Listen to Odd Lots on Apple Podcasts Listen to Odd Lots on Spotify Watch Odd Lots on YouTube Subscribe to the newsletter The residents of Allentown are still sore about that Billy Joel song. While it's true the Pennsylvania city became synonymous with deindustrialization after the US steel industry began its decline in the 1970s, Allentown should be known for more: In the 1950s, for instance, some...
Listen to Odd Lots on Apple Podcasts Listen to Odd Lots on Spotify Watch Odd Lots on YouTube Subscribe to the newsletter The residents of Allentown are still sore about that Billy Joel song. While it's true the Pennsylvania city became synonymous with deindustrialization after the US steel industry began its decline in the 1970s, Allentown should be known for more: In the 1950s, for instance, some of the first mass-produced transistors were made in the city, which were the precursor of today's semiconductors. The city is also a unique logistics and e-commerce hub — it's a day's drive from nearly 40 percent of the US population. Mayor Matthew Tuerk, who has held office since 2022, has made reindustrialization a focus of his mayorship. In today's episode, recorded in Madrid at the Bloomberg CityLab conference, we speak to Mayor Tuerk about the city's grand strategy for building back and sustaining its manufacturing base, implementing industrial policy on a local level, how rezoning has changed in the last decade, the political puzzle of data centers, recruiting companies to come to Allentown, de-risking the American supply chain, and our favorite new category of industry — weight-gaining industries — which Allentown specializes in.
Four empty oil tanks were reportedly damaged, although it’s unclear whether the drones belong to Ukraine or Russia Latvia is investigating two drones which entered its airspace from Russian territory overnight and crashed in eastern part of the country near an empty oil storage facility. Four empty oil tanks were reported damaged, with minor smouldering reported in one of the tanks. The local publ...
Four empty oil tanks were reportedly damaged, although it’s unclear whether the drones belong to Ukraine or Russia Latvia is investigating two drones which entered its airspace from Russian territory overnight and crashed in eastern part of the country near an empty oil storage facility. Four empty oil tanks were reported damaged, with minor smouldering reported in one of the tanks. The local public broadcaster captured a drone flying in the area on their camera. Continue reading...
Alex Rodriguez and Jason Kelly talk with AJ Andrews on baseball’s momentum, softball’s growth and why storytelling and authenticity are key to building the next generation of fans. (Source: Bloomberg)
Alex Rodriguez and Jason Kelly talk with AJ Andrews on baseball’s momentum, softball’s growth and why storytelling and authenticity are key to building the next generation of fans. (Source: Bloomberg)
LONDON, May 07, 2026--The AI Summit London today unveiled its keynote speaker line-up for the event’s 10th anniversary edition, bringing together senior leaders, technologists and policymakers from across the globe. The 2026 programme will explore the transformative power of artificial intelligence across sectors including government, enterprise, healthcare, finance and AI infrastructure.
LONDON, May 07, 2026--The AI Summit London today unveiled its keynote speaker line-up for the event’s 10th anniversary edition, bringing together senior leaders, technologists and policymakers from across the globe. The 2026 programme will explore the transformative power of artificial intelligence across sectors including government, enterprise, healthcare, finance and AI infrastructure.
The residents of Allentown are still sore about that Billy Joel song. While it’s true the Pennsylvania city became synonymous with deindustrialization after the US steel industry began its decline in the 1970s, Allentown should be known for more: In the 1950s, for instance, some of the first mass-produced transistors were made in the city, which were the precursor of today’s semiconductors. The ci...
The residents of Allentown are still sore about that Billy Joel song. While it’s true the Pennsylvania city became synonymous with deindustrialization after the US steel industry began its decline in the 1970s, Allentown should be known for more: In the 1950s, for instance, some of the first mass-produced transistors were made in the city, which were the precursor of today’s semiconductors. The city is also a unique logistics and e-commerce hub — it’s a day’s drive from nearly 40 percent of the
Kevork Djansezian/Getty Images News SpaceX ( SPACE ) has adopted corporate governance policies that will give CEO Elon Musk sweeping authority and limit shareholder rights when it goes public, Reuters reported after reviewing excerpts of the company's IPO registration statement. The rocket maker is using supervoting shares, mandatory arbitration, stricter rules on shareholder proposals and Texas ...
Kevork Djansezian/Getty Images News SpaceX ( SPACE ) has adopted corporate governance policies that will give CEO Elon Musk sweeping authority and limit shareholder rights when it goes public, Reuters reported after reviewing excerpts of the company's IPO registration statement. The rocket maker is using supervoting shares, mandatory arbitration, stricter rules on shareholder proposals and Texas corporate law to give Musk and other insiders broad control, according to the report. SpaceX ( SPACE ) also limited investors' ability to challenge management, sue in court and force votes on governance issues. And Musk can only be fired as CEO and chairman of the board "by the vote of Class B holders," referring to the supervoting shares. Class B holders will have 10 votes for every Class A share available to everyday investors. Only Musk, his family and certain entities will be eligible to receive Class B stock. These shares will allow Musk to retain more than 50% of voting power after SpaceX ( SPACE ) goes public, meaning his removal from the board would effectively require a self-vote. He currently has 42.5% of SpaceX's equity and 83.8% of the voting control. But these policies may not deter investors, who wouldn't want to miss out on what's expected to be the biggest IPO ever and potential returns similar to those of Tesla ( TSLA ). Meanwhile, an investor group that advises union pension funds urged the Securities and Exchange Commission to scrutinize SpaceX's ( SPACE ) disclosures. "We are specifically concerned that SpaceX's IPO will expose numerous investors – many unwillingly – to a company whose value may decline once its financial disclosures can be independently assessed and verified," SOC Investment Group wrote to the SEC, as reported by Reuters . The group, which holds no shares in SpaceX ( SPACE ), raised concerns over auditor independence, transactions between other companies Musk controls, and how SpaceX recognizes revenue. SOC also asked the SEC what ...
Oil prices fell on Thursday, extending recent losses as investors evaluated the outlook for a potential Middle East peace deal. Brent crude futures ( CO1:COM ) fell 1.4% to $99.81 a barrel at press time. U.S. West Texas Intermediate ( CL1:COM ) eased 1.5% to $93.62. Oil futures were up in early Asian trade on a likely technical recovery. "They want to make a deal. We've had very good talks over th...
Oil prices fell on Thursday, extending recent losses as investors evaluated the outlook for a potential Middle East peace deal. Brent crude futures ( CO1:COM ) fell 1.4% to $99.81 a barrel at press time. U.S. West Texas Intermediate ( CL1:COM ) eased 1.5% to $93.62. Oil futures were up in early Asian trade on a likely technical recovery. "They want to make a deal. We've had very good talks over the last 24 hours, and it's very possible that we'll make a deal," Trump told reporters in the Oval Office on Wednesday, saying later "it'll be over quickly." Seeking Alpha "Markets were driven by optimism about an agreement being reached in the coming days to end the Middle East conflict, although the degree of optimism oscillated through the day in response to various statements from both sides," ANZ analysts said in a note. Trump, however, noted that it was too early to prepare for a face-to-face meeting with Iran, whilst Iran said the proposal was an American initiative with some exaggeration. "The situation remains highly fluid with intraday volatility likely to remain high until greater substance emerges," the analysts said. Elsewhere, prediction market traders are rapidly increasing the odds of a U.S.-Iran nuclear deal following reports that Washington and Tehran are nearing a memorandum of understanding to end the conflict and launch broader negotiations. At the same time, traders also raised expectations that shipping conditions in the Strait of Hormuz would stabilize in the coming months. More on energy, etc. The Petroleum Inventory Crash: $200+ Oil Is Coming Soon US-Iran Peace Agreement: Market Implications And Strategic Scenarios U.S. February Oil Production Rebounds U.S.-Iran truce odds surge as markets anticipate de-escalation Iran reviews one-page proposal to end war with U.S. - report
UBS Group AG was fined €6 million ($7 million) in Monaco over weak anti-money laundering controls, including filing a report 253 days after a suspicious transaction. The penalty is the first against a global bank by Monaco watchdogs since the city-state was added two years ago to an international “gray list” of jurisdictions deemed insufficiently vigilant about dirty money. As it attempts to shake...
UBS Group AG was fined €6 million ($7 million) in Monaco over weak anti-money laundering controls, including filing a report 253 days after a suspicious transaction. The penalty is the first against a global bank by Monaco watchdogs since the city-state was added two years ago to an international “gray list” of jurisdictions deemed insufficiently vigilant about dirty money. As it attempts to shake off the designation, the principality has tightened laws and sought to show that authorities it can take meaningful enforcement action. In the decision issued last week, UBS Monaco was criticized by the enforcement committee of the Autorité Monégasque de Sécurité Financière over a range of other failings from having too few staff to handle alerts to shortcomings in verifying the origin of certain clients’ wealth. In one instance, UBS took on a new client based on documents the AMSF said were old, mostly in Russian and untranslated. Some were “articles from websites whose reliability is clearly questionable,” including one called “Russian mafia,” Monaco regulators said. UBS didn’t comment on the specifics of the fining decision, which it said it’s reviewing. The bank added that its Monaco unit “is committed to operating to the highest regulatory standards.” Monaco anti-money laundering officials have previously penalized six other firms for deficiencies in recent months but none with global brand like UBS. Still, it’s unclear how long it will take to get off the Paris-based Financial Action Task Force’s gray list as tentative hopes for an exit earlier this year were dashed. FATF’s recommendations are taken seriously because no nation wants to be flagged for deficiencies that might cast doubt on the integrity of its banking system. Those added to the list require closer monitoring and the designation can make foreign investors more wary of doing business there. Read more: Flats for €60 Million Show Monaco’s Dirty Money Headache The UBS fine comes after a three-month inspecti...