Workers manufacture four-wheel all-terrain vehicles for export at a workshop in Wuyi county, Zhejiang province, on May 13, 2026. Photo: VCG Morgan Stanley raised its forecast for China’s economic growth this year, citing stronger-than-expected momentum from exports tied to global artificial intelligence (AI) and the green energy transition, while warning that the country’s domestic economy remains...
Workers manufacture four-wheel all-terrain vehicles for export at a workshop in Wuyi county, Zhejiang province, on May 13, 2026. Photo: VCG Morgan Stanley raised its forecast for China’s economic growth this year, citing stronger-than-expected momentum from exports tied to global artificial intelligence (AI) and the green energy transition, while warning that the country’s domestic economy remains weak and increasingly divided. The Wall Street bank lifted its projection on May 13 for China’s 2026 real gross domestic product growth to 4.8%, up 0.1 percentage point from its previous forecast.
DP World Ltd. remains “bullish” on its expansion plans in Africa, even as the continent faces inflation from the Iran war caused by surging fuel prices, according to its regional head. The global logistics giant is continuing its expansion plans for ports and infrastructure from Mozambique to Congo. It has invested as much as $4 billion in the last five years across the continent, and plans to com...
DP World Ltd. remains “bullish” on its expansion plans in Africa, even as the continent faces inflation from the Iran war caused by surging fuel prices, according to its regional head. The global logistics giant is continuing its expansion plans for ports and infrastructure from Mozambique to Congo. It has invested as much as $4 billion in the last five years across the continent, and plans to commit another $4 billion to new port development corridors and logistics, said Mohammed Akoojee , DP World’s chief executive officer and managing director for Africa. Still, the surge in petrol and diesel costs used in operations threatens to dampen economic activity across the continent. “We’ve got to increase our pricing and that’s not great because that results in inflation,” he told Bloomberg Television in an interview on the sidelines of a conference in Kigali, Rwanda. “I think the impact on the consumer and the economies in Africa with what’s going on in Iran, will start flowing through.” “Certainly, if this war continues and the Strait of Hormuz remains closed, then there’ll be a deeper impact on Africa,” he added. The maritime entrance to the Persian Gulf has been effectively shut since the start of US-Israel attacks on Iran in late February. That’s choked off a fifth of the world’s oil and gas shipments with crude regularly trading above $100 a barrel. DP World operates more than 7,000 trucks across Africa and has faced a roughly 75% increase in fuel prices in South Africa, home to its largest fleet. Those cost pressures ultimately get passed on to customers. The closure of the strait has disrupted some shipping corridors into Africa by isolating DP World’s major Jebel Ali hub in Dubai, according to Akoojee. This has in turn affected cargo flows to Berbera in Somalia and onward into Ethiopia. “That has been something we’re having to deal with.” he said. Investment is increasingly going into infrastructure that also connects ports to regional supply routes, including ...
akinbostanci/iStock via Getty Images Introduction The underlying theme in the AI Infrastructure cycle seems to be evolving. Clusters are moving from tens to potentially hundreds of thousands of GPUs, and suddenly, the challenge is not just chip-based scalability but also connectivity stability and resilience. Credo Technology Group ( CRDO ) seems poised to benefit more than ever from this trend. T...
akinbostanci/iStock via Getty Images Introduction The underlying theme in the AI Infrastructure cycle seems to be evolving. Clusters are moving from tens to potentially hundreds of thousands of GPUs, and suddenly, the challenge is not just chip-based scalability but also connectivity stability and resilience. Credo Technology Group ( CRDO ) seems poised to benefit more than ever from this trend. The company's position in the Active Electrical Cable (AECs) space is no longer the main story, at least in my opinion. Credo seems to be evolving into a comprehensive reliability platform across the copper, optics, telemetry, and eventually near-package optical spaces. Q4 Earnings Could Redefine Credo’s AI Story Credo releases Q4 FY2026 results on June 2, where the consensus expects a $433 million top line with $1.03 EPS , up 155% and 195% year-over-year, respectively. The outlook has been moving aggressively higher, with 12 upward EPS estimates and 11 upward revenue estimates made by analysts over the last three months with no downgrades. Investors need to watch out for the progress of ZeroFlap optics, 200G per lane, customer diversification, and official management increase in confidence regarding fiscal 2027 performance. Guidance for gross margin will be crucial since the market is viewing Credo beyond its role as an AEC provider to an AI connectivity platform. Data by YCharts Credo's Evolution Into Something More Than AEC My views about Credo have changed significantly over the course of the year. When I first started looking at the company, I was focused on its positioning as a beneficiary of AEC adoption by hyperscalers. The thesis played out much better than I expected. Revenues surged exponentially, demand for AECs increased, and Credo turned out to be among the most profitable names in the broader AI Infrastructure space. In case you are not familiar with AECs, they are essentially high-speed “smart cables” used inside AI data centers to connect GPUs, servers, and ...
Ever fancied creating your own enormous effigy? One Cornish art collective has reinvigorated the practice – and now they want to draw on the public’s skills, too This New Year’s Eve, environmentalist and author Lisa Schneidau did something she had never done before. She welcomed in 2026 with giants. “At a certain time of the evening, they started appearing from all over the town. Then everyone flo...
Ever fancied creating your own enormous effigy? One Cornish art collective has reinvigorated the practice – and now they want to draw on the public’s skills, too This New Year’s Eve, environmentalist and author Lisa Schneidau did something she had never done before. She welcomed in 2026 with giants. “At a certain time of the evening, they started appearing from all over the town. Then everyone flooded out of their houses and congregated into a massive procession of giants and lights and drums and music. It was absolutely extraordinary.” Schneidau’s fairytale experience happened in Lostwithiel, the Cornish home town of the art collective The Lost Giants (TLG), a group of craftspeople and artists reviving the British tradition of making giants and beasties and goliaths. The giants she celebrated with were made of wooden frames and cloth, papier-mache and card, but were full of life. To apply for a giant, go to The Lost Giants website Continue reading...
The contextual suggestions feature has started appearing on some Pixel 10 series devices. | Photo: Allison Johnson / The Verge Google is rolling out a new AI-powered 'contextual suggestions' feature to Android users that recommends actions based on your daily habits, Android Authority reports. The feature is designed to predict your next action based on your location and habits - such as allowing ...
The contextual suggestions feature has started appearing on some Pixel 10 series devices. | Photo: Allison Johnson / The Verge Google is rolling out a new AI-powered 'contextual suggestions' feature to Android users that recommends actions based on your daily habits, Android Authority reports. The feature is designed to predict your next action based on your location and habits - such as allowing music streaming apps to suggest your usual playlist when you arrive at the gym for your regular workout. Contextual suggestions were previously available in the Play Services beta, but now Google seems to have expanded it to the stable channel. While Google hasn't announced that the feature has officially launched, some reporters at Android Authority and 9to5Google are see … Read the full story at The Verge.
Forgent Power Solutions, Inc. press release ( FPS ): Q3 Revenue of $378.71M (+103.4% Y/Y) beats by $36.8M . Bookings of $867 million, an increase of 308% year-over-year; Book-to-bill ratio of 2.3x Backlog of $1.98 billion, an increase of 157% year-over-year and 33% quarter-over-quarter, respectively Adjusted EBITDA of $85 million, an increase of 96% year-over-year Adjusted EBITDA margin of 22.4%, ...
Forgent Power Solutions, Inc. press release ( FPS ): Q3 Revenue of $378.71M (+103.4% Y/Y) beats by $36.8M . Bookings of $867 million, an increase of 308% year-over-year; Book-to-bill ratio of 2.3x Backlog of $1.98 billion, an increase of 157% year-over-year and 33% quarter-over-quarter, respectively Adjusted EBITDA of $85 million, an increase of 96% year-over-year Adjusted EBITDA margin of 22.4%, an increase of ~200 bps quarter-over-quarter Cash flow from operations of $29 million, an increase of $37 million year-over-year Updated Full Year Fiscal 2026 Guidance Revenues in the range of $1,350 to $1,390 million, representing 82% YoY growth at the midpoint Adjusted EBITDA in the range of $310 to $320 million (prior $1,275 to $1,325 million) (vs. consensus of $1.30B) , representing 86% YoY growth at the midpoint Adjusted Net Income in the range of $197 to $207 million, representing 128% YoY growth at the midpoint More on Forgent Power Solutions, Inc. Forgent Power Solutions: Powering On Post Its Public Offering Forgent Power Solutions, Inc. 2026 Q2 - Results - Earnings Call Presentation Forgent Power Solutions, Inc. (FPS) Q2 2026 Earnings Call Transcript Goldman Sachs cuts IPO forecast; biggest IPOs since 2025 ranked by market cap Largest IPOs of the last 90 days register mixed debut
adventtr/iStock via Getty Images Listen below or on the go via Apple Podcasts and Spotify AI chipmaker Cerebras Systems ( CBRS ) secures $5.55B in the year’s largest IPO. (00:13) Cisco ( CSCO ) announces layoffs with Q3 results. (01:04) Netflix ( NFLX ) brings back fan favorites , more NFL games, and Quasimodo at the 2026 Upfront event. (02:22) This is an abridged transcript. AI chipmaker Cerebras...
adventtr/iStock via Getty Images Listen below or on the go via Apple Podcasts and Spotify AI chipmaker Cerebras Systems ( CBRS ) secures $5.55B in the year’s largest IPO. (00:13) Cisco ( CSCO ) announces layoffs with Q3 results. (01:04) Netflix ( NFLX ) brings back fan favorites , more NFL games, and Quasimodo at the 2026 Upfront event. (02:22) This is an abridged transcript. AI chipmaker Cerebras Systems ( CBRS ) raised $5.55B in its U.S. initial public offering, capitalizing on booming investor demand for artificial intelligence semiconductors. The company priced its shares at $185 each, which is above the marketed range. Cerebras had offered 30M shares in the IPO for $150 to $160 each, after revising the range and number of shares higher on Monday. The shares are expected to begin trading on Nasdaq today under the ticker symbol “CBRS.” The offering is expected to close on May 15, 2026. On Wednesday, Bloomberg reported that Arm Holdings ( ARM ) and its majority owner Softbank Group ( SFTBY ), made an offer to purchase Cerebras Systems ( CBRS ) weeks before its planned IPO. In conjunction with its third-quarter results and guidance , Cisco ( CSCO ) announced on Wednesday that it will be letting go fewer than 4,000 employees as it continues to focus on artificial intelligence. “The companies that will win in the AI era will be those with focus, urgency, and the discipline to continuously shift investment toward the areas where demand and long-term value creation are strongest,” Cisco CEO Chuck Robbins wrote in a blog post . “I’m confident Cisco will be one of those winners.” Robbins said the notifications of the layoffs, which will impact roughly 5% of the company's workforce, will start on May 14 and continue globally with applicable local laws and regulations. As part of the severance package, affected employees will receive a pro-rated payment of the fiscal 2026 bonus, along with placement services. Cisco said in a filing with the Securities and Exchange Commissi...
Many Americans are given the same retirement advice. Max out your 401(k) plan every year. Contribute to an IRA and make catch-up contributions once you're eligible. And repeat. For many workers, that guidance is absolutely necessary and spot-on. But there's another side to retirement planning that doesn't get talked about often enough -- having too much money in an IRA or 401(k). Image source: Get...
Many Americans are given the same retirement advice. Max out your 401(k) plan every year. Contribute to an IRA and make catch-up contributions once you're eligible. And repeat. For many workers, that guidance is absolutely necessary and spot-on. But there's another side to retirement planning that doesn't get talked about often enough -- having too much money in an IRA or 401(k). Image source: Getty Images. Continue reading
“Large Boeing orders” appear to be coming, US Secretary of the Treasury Scott Bessent told CNBC on Thursday, adding that China and the US will discuss establishing a new joint board of trade to manage commercial ties. “I think we’re going to see the large Boeing orders,” Bessent said. The agreement, if material, would mark the first such order after a nearly decade-long drought fuelled by geopolit...
“Large Boeing orders” appear to be coming, US Secretary of the Treasury Scott Bessent told CNBC on Thursday, adding that China and the US will discuss establishing a new joint board of trade to manage commercial ties. “I think we’re going to see the large Boeing orders,” Bessent said. The agreement, if material, would mark the first such order after a nearly decade-long drought fuelled by geopolitical and regulatory stand-offs, serving as a high-profile “deliverable” from US President Donald...
Merged insistutions, whose name has not yet been formally decided, will be second largest mainstream university in UK King’s College London has signed an agreement to merge with Cranfield University, creating a new UK “super-university” that would rival many of its international competitors in size and research output. The merger would result in KCL taking on another 5,000 mainly postgraduate stud...
Merged insistutions, whose name has not yet been formally decided, will be second largest mainstream university in UK King’s College London has signed an agreement to merge with Cranfield University, creating a new UK “super-university” that would rival many of its international competitors in size and research output. The merger would result in KCL taking on another 5,000 mainly postgraduate students and become the second largest mainstream university in the UK, with about 47,000 students, overtaking the University of Manchester and behind only University College London. Continue reading...
Getty Images The inflationary shock unfolding The transition to an inflationary regime is underway, it's in an early phase . The macro transition is as follows: The Strait of Hormuz has been closed since February 28th - and, most importantly, there is no end in sight when Hormuz will reopen and normalize. The primary effect is the supply-driven energy price shock, tracked in real time with the pri...
Getty Images The inflationary shock unfolding The transition to an inflationary regime is underway, it's in an early phase . The macro transition is as follows: The Strait of Hormuz has been closed since February 28th - and, most importantly, there is no end in sight when Hormuz will reopen and normalize. The primary effect is the supply-driven energy price shock, tracked in real time with the price of crude oil futures ( CL1:COM ). WTI Oil is trading just above $100/barrel, but within next 6-8 weeks there will be a serious global shortage of energy products, which could push crude oil up to $200/barrel. Thus, we are facing an inflationary shock - and this is a supply-driven inflationary shock, not a demand-driven, and this is key for the financial markets, as I will explain below. The bond market is breaking The transition to an inflationary regime is already reflected in the bond market. Short-term rates - the Fed expectations Short-term interest rates are reflecting the expectations for the Fed policy over the near term. The 2Y Yield ( US2Y ) is near 4%. The Federal Funds futures can give us an insight on when the Fed is expected to act - the Fed is now expected to start hiking at the March 2027 meeting - with around 55% probability. The Fed is supposed to hike when inflation rises, that's what the Federal Funds futures are starting to price. CME FedWatch The 10Y yields at the edge of the runaway inflation expectations The 10Y yields ( US10Y ) are an extremely important indicator, because we can track the long-term inflation expectations. Specifically, the nominal 10Y yield is the sum on real yield (as proxied by the 10Y TIPS yield) and the Breakeven inflation. Well, 10Y Breakeven inflation is expected to be below 2.5% - this reflects an anchored inflation expectation, and the Fed is very sensitive to this market measure of inflation. Currently, the nominal 10Y yield is 4.47%, the 10Y TIPS yield is 1.96%, which means that 10Y BE inflation is 2.51% - so that's abo...
Burnham’s backers understood to be lobbying Labour’s NEC who warn against Wes Streeting ‘coronation’ UK politics live – latest updates The rules governing Labour party leadership contests should “not be tweaked” to allow Andy Burnham to run, a member of the party’s National Executive Committee has said. With the health secretary preparing to launch a leadership challenge against Keir Starmer on Th...
Burnham’s backers understood to be lobbying Labour’s NEC who warn against Wes Streeting ‘coronation’ UK politics live – latest updates The rules governing Labour party leadership contests should “not be tweaked” to allow Andy Burnham to run, a member of the party’s National Executive Committee has said. With the health secretary preparing to launch a leadership challenge against Keir Starmer on Thursday , if he can secure the support of enough MPs to trigger a contest, allies of Burnham have warned against a “coronation” for Wes Streeting as the next prime minister. Continue reading...