Iron ore headed for its biggest weekly gain in over a year, after China’s state-backed buyer moved to expand restrictions on BHP Group products. Singapore futures of the steelmaking ingredient have risen over 6% this week, which would be the largest increase since January 2025. Prices rose Friday to nearly $109 a ton as Chinese mills rushed to transfer BHP ore from port stockpiles to plants to get...
Iron ore headed for its biggest weekly gain in over a year, after China’s state-backed buyer moved to expand restrictions on BHP Group products. Singapore futures of the steelmaking ingredient have risen over 6% this week, which would be the largest increase since January 2025. Prices rose Friday to nearly $109 a ton as Chinese mills rushed to transfer BHP ore from port stockpiles to plants to get ahead of any curbs. China Mineral Resources Group Co. has indicated to mills that products, including Newman fines and lumps and Mining Area C fines, would be put in the same restricted category as BHP’s Jimblebar blend. It would be second time this month that CMRG has escalated its response to fraught negotiations with BHP on long-term contracts. Read More: China Steel Mills Rush to Move BHP Ore on Fear of More Curbs Singapore futures were 0.4% higher on the day at $108.25 a ton at 10.12 a.m. local time. Futures in Dalian added 2.6% to 816.50 yuan a ton, while Shanghai steel contracts also climbed.
At roughly $73 per share as of this writing, Uber Technologies (UBER 2.83%) is trading well below its 52-week high of nearly $102. This pullback is, in part, a reflection of uncertainty regarding how the self-driving cars will impact Uber's business. Investors are likely becoming increasingly concerned that companies developing their own self-driving technologies will eventually be able to leapfro...
At roughly $73 per share as of this writing, Uber Technologies (UBER 2.83%) is trading well below its 52-week high of nearly $102. This pullback is, in part, a reflection of uncertainty regarding how the self-driving cars will impact Uber's business. Investors are likely becoming increasingly concerned that companies developing their own self-driving technologies will eventually be able to leapfrog Uber's ride-sharing network and ultimately erode the company's dominant market position. However, a strategic partnership announced on Wednesday with Amazon's autonomous vehicle unit, Zoox, points to a much more favorable scenario for the ride-hailing giant. Rather than being disrupted by the self-driving transition, Uber is actively positioning its platform as the indispensable demand-generation engine for the autonomous era. With the stock trading at a discount to recent highs and the company continually expanding its network of self-driving partners, investors have to ask whether this is a compelling opportunity to buy into a highly profitable tech platform before the AV market fully matures. Outsourcing the hardware risk Under the newly announced multiyear agreement, Zoox's purpose-built robotaxis -- which lack traditional steering wheels and pedals -- will be available to Uber users in Las Vegas beginning this summer. The companies plan to expand the service to Los Angeles by mid-2027. The deal is a crucial validation of Uber's capital-light approach to the future of transportation. Developing autonomous hardware and software arguably requires tens of billions of dollars in capital expenditures and entails significant regulatory and execution risks. Instead of trying to build its own fleet of robotaxis from scratch, Uber is leveraging its massive existing ride-sharing user base to partner with the developers who are taking on that hardware risk. Uber ended 2025 with 202 million monthly active platform consumers. For hardware companies like Zoox trying to achieve util...
Key Points Uber Technologies and Amazon's Zoox announced a strategic multiyear agreement to deploy purpose-built robotaxis on the Uber app. The ride-hailing company's fourth-quarter revenue rose sharply, driven by strength in both mobility and delivery. The stock trades at a lower valuation, reflecting market uncertainty about the impact autonomous vehicle technology will have on its business. 10 ...
Key Points Uber Technologies and Amazon's Zoox announced a strategic multiyear agreement to deploy purpose-built robotaxis on the Uber app. The ride-hailing company's fourth-quarter revenue rose sharply, driven by strength in both mobility and delivery. The stock trades at a lower valuation, reflecting market uncertainty about the impact autonomous vehicle technology will have on its business. 10 stocks we like better than Uber Technologies › At roughly $73 per share as of this writing, Uber Technologies (NYSE: UBER) is trading well below its 52-week high of nearly $102. This pullback is, in part, a reflection of uncertainty regarding how the self-driving cars will impact Uber's business. Investors are likely becoming increasingly concerned that companies developing their own self-driving technologies will eventually be able to leapfrog Uber's ride-sharing network and ultimately erode the company's dominant market position. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » However, a strategic partnership announced on Wednesday with Amazon's autonomous vehicle unit, Zoox, points to a much more favorable scenario for the ride-hailing giant. Rather than being disrupted by the self-driving transition, Uber is actively positioning its platform as the indispensable demand-generation engine for the autonomous era. With the stock trading at a discount to recent highs and the company continually expanding its network of self-driving partners, investors have to ask whether this is a compelling opportunity to buy into a highly profitable tech platform before the AV market fully matures. Outsourcing the hardware risk Under the newly announced multiyear agreement, Zoox's purpose-built robotaxis -- which lack traditional steering wheels and pedals -- will be available to Uber users in Las Vegas beginning this su...