A new estimate from the Congressional Budget Office suggests that the cost of building and maintaining the proposed “Golden Dome” missile defense system could reach roughly $1.2 trillion over two decades, far exceeding the $185 billion figure previously cited by Pentagon leadership. The ambitious program aims to significantly expand existing U.S. missile defense infrastructure. Plans include bolst...
A new estimate from the Congressional Budget Office suggests that the cost of building and maintaining the proposed “Golden Dome” missile defense system could reach roughly $1.2 trillion over two decades, far exceeding the $185 billion figure previously cited by Pentagon leadership. The ambitious program aims to significantly expand existing U.S. missile defense infrastructure. Plans include bolstering ground-based interceptors, upgrading sensor networks and enhancing command systems, while also introducing a major space-based component designed to identify, monitor and potentially intercept threats from orbit. This orbital layer would rely on a large network of satellites, including systems capable of engaging incoming missiles. According to the CBO, procurement alone would likely surpass $1 trillion. A substantial share of that spending would go toward the space-based interceptor system, which could involve deploying around 7,800 satellites and represent roughly 70 percent of acquisition costs. The envisioned shield would provide nationwide coverage, extending across the continental U.S. as well as Alaska and Hawaii, and is designed to counter threats from regional adversaries such as North Korea. However, the report cautions that the system may struggle to handle a large-scale attack from more advanced military powers like Russia or China. Critics on Capitol Hill have already taken aim at the proposal. Senator Jeff Merkley, the top Democrat on the Senate Budget Committee, argued the initiative primarily benefits defense contractors at significant expense to taxpayers. Officials at the Pentagon’s Golden Dome office did not immediately comment on the updated cost projections. Meanwhile, the U.S. Space Force has begun laying groundwork for the program’s orbital defenses, awarding contracts worth up to $3.2 billion to a dozen companies tasked with developing space-based interceptor technologies. Unlike traditional systems that engage threats from the ground, these or...
herstockart Despite increased sales, Birkenstock ( BIRK ) faced profit pressures in its fiscal second quarter as unfavorable currency translation, U.S. tariffs, and channel mix caused the German footwear brand to miss Wall Street’s profit expectations, driving shares as much as 8% lower into Wednesday’s open. “Our business proved very resilient in the fiscal second quarter. Despite the ongoing ins...
herstockart Despite increased sales, Birkenstock ( BIRK ) faced profit pressures in its fiscal second quarter as unfavorable currency translation, U.S. tariffs, and channel mix caused the German footwear brand to miss Wall Street’s profit expectations, driving shares as much as 8% lower into Wednesday’s open. “Our business proved very resilient in the fiscal second quarter. Despite the ongoing instability in the Middle East, persistent inflationary pressures, US tariff policy evolving unfavorably for us, and continued F/X headwinds, we delivered constant currency revenue growth of over 14%. This performance was well within our near-term and long-term target of 13-15%,” said Birkenstock CEO Oliver Reichert. With the help of strong demand in the company’s Asian market—growing at twice the pace of its other markets—Birkenstock confirmed its FY26 outlook for 13% to 15% revenue growth and adjusted gross profit margin between 57% and 57.5%. However, inclusive of ongoing tariffs and the impact from foreign exchange conversions, Birkenstock ( BIRK ) set EPS guidance at €1.90 and €2.05, with a midpoint of €1.97 that is below the consensus estimate of €2.05. For the fiscal second quarter, Birkenstock ( BIRK ) generated revenue of €618M ($724.10M), an increase of 8% from a year ago but slightly less than anticipated. Additionally, the company earned a profit of €0.50 ($0.59) per share, down 9% year-over-year and less than €0.60 estimates. This resulted in a compressed adjusted profit margin of 54.6%, down 310 basis points from the prior year, primarily a result of a 230 basis points impact from currency translation, -90 basis points from U.S. tariffs, and -30 basis points from channel mix. More on Birkenstock Holding Birkenstock: Tough To Get Excited Birkenstock: Still A Long-Term Hold, But Not A Perfect Story (Downgrade) Birkenstock Holding plc 2026 Q1 - Results - Earnings Call Presentation Birkenstock Q2 profit takes hit from currency translation and U.S. tariffs Seeking Alp...
A Swiss population cap of 10 million risks curbing economic output by as much as 12% through the end of the century, according to a government-commissioned study . The report by Switzerland’s Demografik think tank showed that in a scenario without such a limit, envisaging natural demographic expansion to a total of more than 11 million on that timeline, gross domestic product would be noticeably h...
A Swiss population cap of 10 million risks curbing economic output by as much as 12% through the end of the century, according to a government-commissioned study . The report by Switzerland’s Demografik think tank showed that in a scenario without such a limit, envisaging natural demographic expansion to a total of more than 11 million on that timeline, gross domestic product would be noticeably higher. “A cap would reduce the number of people in the workforce in the baseline scenario by about 11% by 2075 and significantly exacerbate the existing shortage of skilled workers, particularly in the healthcare, hospitality, IT and construction sectors,” the authors wrote in the study published on Wednesday. The report showed that by mid-century, single-digit percentage differences are expected between the baseline scenario and two alternative scenarios that incorporate different forms of a population limit. “The differences between the two implementation scenarios converge over the longer term,” the authors said, adding that “by the end of the century, regardless of the chosen implementation scenario, GDP will be approximately 12% lower than in the scenario without immigration restrictions.” The study will feed into a feverish national debate proceeding one of the most polarizing proposals put to the Swiss electorate in years. Polls show an even split among voters , with supporters linking crowded trains and high rents to immigration. About 9.1 million people live in Switzerland, according to figures from the end of 2025. Business leader and the government have spoken out strongly against the proposal, which will be put to the ballot box on June 14. The authors did note that the plan would ease some pressure on housing, infrastructure and welfare. Still the analysis found that its fiscal and demographic expenses, especially in terms of skilled labor shortages and healthcare costs, would outweigh those advantages. “Many of the identified challenges (an aging population, a...
Bitcoin will reach $1 million in the next five years in a run that will mirror the rise of the gaming industry, according to VanEck Head of Digital Assets Research Matthew Sigel. "When you look at the demographic trends and...
Bitcoin will reach $1 million in the next five years in a run that will mirror the rise of the gaming industry, according to VanEck Head of Digital Assets Research Matthew Sigel. "When you look at the demographic trends and...
Two Harbors Investment's ( TWO ) board unanimously rejected UWM Holdings' ( UWMC ) revised proposal on Wednesday, saying the revised proposal has not addressed "core deficiencies and material risks" in UWMC's previous proposals. Two Harbors ( TWO ) stock fell 2.1% in premarket trading, while UWM Holdings ( UWMC ) stock was little changed. The TWO board called the UWMC's proposal "fundamentally ill...
Two Harbors Investment's ( TWO ) board unanimously rejected UWM Holdings' ( UWMC ) revised proposal on Wednesday, saying the revised proposal has not addressed "core deficiencies and material risks" in UWMC's previous proposals. Two Harbors ( TWO ) stock fell 2.1% in premarket trading, while UWM Holdings ( UWMC ) stock was little changed. The TWO board called the UWMC's proposal "fundamentally illusory and predatory," citing that the default consideration is for UWMC stock, worth ~$7.58 per TWO share. UWMC has emphasized that it's also giving TWO stockholders the option to accept $12.50 in cash for each share of mortgage REIT and that the cash election has no cap. The board also questioned why the revised proposal wasn't accompanied by an increased financing commitment letter and whether UWMC could close a transaction within 60 days, as it has said it can. Two Harbors ( TWO ) also said it “strongly believes” that proxy firm Institutional Shareholder Services reached a wrong conclusion in failing to recommend that TWO stockholders vote for the CrossCountry Mortgage transaction for $12.00 per share in cash. It points out, though, that ISS did not explicitly recommend that stockholders support the UWMC proposal or the pending CCM transaction. The CCM agreement remains "the most compelling, certain, and actionable path forward," Two Harbors said. More on Two Harbors Investment, UWM Holdings Two Harbors: I Believe The Bidding War Will Soon Come To An End UWM Holdings Corporation (UWMC) Q1 2026 Earnings Call Transcript Two Harbors Investment Corp. (TWO) Q1 2026 Earnings Call Transcript UWMC sweetens proposal for Two Harbors with higher cash election option
Adaption's new AutoScientist tool is designed to let models adapt to specific capabilities quickly through an automated approach to conventional fine-tuning.
Adaption's new AutoScientist tool is designed to let models adapt to specific capabilities quickly through an automated approach to conventional fine-tuning.
In this article WMT Follow your favorite stocks CREATE FREE ACCOUNT A Walmart worker organizes products for the Christmas season at a Walmart store in Teterboro, New Jersey. Eduardo Munoz | Reuters Walmart has eliminated 1,000 roles as the world's largest retailer simplifies its operating structure, a source familiar with the matter told Reuters. Under new CEO John Furner and a reshaped leadershi...
In this article WMT Follow your favorite stocks CREATE FREE ACCOUNT A Walmart worker organizes products for the Christmas season at a Walmart store in Teterboro, New Jersey. Eduardo Munoz | Reuters Walmart has eliminated 1,000 roles as the world's largest retailer simplifies its operating structure, a source familiar with the matter told Reuters. Under new CEO John Furner and a reshaped leadership team, the retailer is doubling down on a tech-focused strategy as it woos higher-income shoppers and builds its marketplace and delivery businesses. "We've made changes to simplify how the work is organized, make ownership clearer, and better align roles to the work and skills we need going forward," said Walmart's head of global technology Suresh Kumar and head of global AI acceleration Daniel Danker in a memo to employees on Tuesday. The company had moved from organizing separately for Walmart U.S., Sam's Club, and its international markets to building in a unified way on a single, shared platform over the past year, according to the memo. Walmart, which became the first retailer ever to hit $1 trillion in market value in February, has been ramping up a digital transformation to better compete with Amazon.com , Costco and Aldi. Many of the affected staff have been asked to relocate to Walmart's Bentonville or Northern California offices, the Wall Street Journal, which first reported about the development, said on Tuesday. Walmart employs about 2.1 million people worldwide, as of January 31, according to its annual filing. It is the largest U.S. private employer with about 1.6 million employees, of whom 92% are hourly workers. The company reports quarterly results on May 21. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
US equity futures pushed higher early Wednesday as traders snapped up technology shares after a pullback in the group, with enthusiasm around strong earnings outweighing a resurgence in inflation. Contracts on the S&P 500 Index rose 0.2% as of 8:06 a.m. in New York, while those on the Nasdaq 100 Index gained 0.7%. Chipmakers, opticals and storage firms were advancing as supply for global memory ch...
US equity futures pushed higher early Wednesday as traders snapped up technology shares after a pullback in the group, with enthusiasm around strong earnings outweighing a resurgence in inflation. Contracts on the S&P 500 Index rose 0.2% as of 8:06 a.m. in New York, while those on the Nasdaq 100 Index gained 0.7%. Chipmakers, opticals and storage firms were advancing as supply for global memory chips, critical to artificial intelligence infrastructure build-outs, tightened further. Nvidia Corp. climbed 2.3% as Chief Executive Officer Jensen Huang is joining President Donald Trump on his visit to China. Trump repeated his military threats against Iran ahead of his China trip. Tehran’s effective closure of the Strait of Hormuz will be at the top of the agenda in talks between the US president and China’s President Xi Jinping . Investors are brushing aside the hottest yearly inflation print since 2023 as robust corporate earnings and the profit potential of AI continue to underpin confidence in the economy and stock market. First-quarter profits at S&P 500 companies have surged 27% so far, more than double the roughly 12% analysts had expected — the fastest year-on-year earnings growth outside of recoveries from major shocks since 2004. Optimism surrounding the potential for industrial companies to profit from the AI boom has also fueled record-setting momentum in the sector. A gauge of 45-day correlation between the S&P 500 Industrials Sector, home to stocks like Deere & Co. and Fastenal Co. , and the Philadelphia Stock Exchange Semiconductor Index is sitting at 0.75, near the highest level since June. A reading of 1 means the securities move in lockstep. Worries are mounting that the group’s link to AI may be getting too tight. To Max Kettner , chief multi-asset strategist at HSBC Holdings Plc, stocks can rally further as a powerful recovery in earnings and still-low positioning outweigh the threat from rising bond yields. The reporting season has been “crazy, just a...
(RTTNews) - Kornit Digital (KRNT) reported a first quarter GAAP net loss of $8.2 million, or $0.19 per share, compared with a net loss of $5.1 million, or $0.11 per share, in the prior year period. Non-GAAP net loss was $0.4 million, or $0.01 per share, compared with non-GAAP net
(RTTNews) - Kornit Digital (KRNT) reported a first quarter GAAP net loss of $8.2 million, or $0.19 per share, compared with a net loss of $5.1 million, or $0.11 per share, in the prior year period. Non-GAAP net loss was $0.4 million, or $0.01 per share, compared with non-GAAP net
Here’s how the GD01 (seen left) stacks up against Unitree’s CEO and existing humanoid robots. | Image: Unitree Unitree is already one of the most recognizable names in the humanoid robot industry, but now it's pursuing even nicher sci-fi tech: giant mech suits. The Chinese robotics company has debuted the GD01 , which it describes as "the world's first production-ready manned mecha," and it can be...
Here’s how the GD01 (seen left) stacks up against Unitree’s CEO and existing humanoid robots. | Image: Unitree Unitree is already one of the most recognizable names in the humanoid robot industry, but now it's pursuing even nicher sci-fi tech: giant mech suits. The Chinese robotics company has debuted the GD01 , which it describes as "the world's first production-ready manned mecha," and it can be yours for a paltry $650,000. What is it for? Well, Unitree doesn't really explain its intended functionality, but the GD01's introductory video on YouTube provides some ideas. Unitree shows it knocking over a wall of cinderblocks and switching between bipedal position (which, to me, resembles the Power Loader that Ellen Ripley pilots in Aliens ) to a mode th … Read the full story at The Verge.
Pongsak Sapakdee/iStock via Getty Images Quarterly commentary Financial assets experienced mixed returns in the first quarter. The fund posted a flat total return and outperformed the benchmark. Asset allocation and underlying manager performance each contributed positively. Market review and outlook The world financial markets, after performing well in the first two months of the year on continue...
Pongsak Sapakdee/iStock via Getty Images Quarterly commentary Financial assets experienced mixed returns in the first quarter. The fund posted a flat total return and outperformed the benchmark. Asset allocation and underlying manager performance each contributed positively. Market review and outlook The world financial markets, after performing well in the first two months of the year on continued optimism about trends in economic growth and interest rates, turned lower following the start of the conflict in the Middle East in Iran in early March. The ensuing spike in oil prices, together with concerns about possible shortages of other commodities caused by disrupted supply chains, dampened the growth outlook and led to a sharp rise in inflation expectations. The deteriorating inflation picture, in turn, dashed optimism that central banks could continue cutting rates. In combination, these developments led to a surge in global government bond yields that erased the positive total returns achieved in the first two months of the year. The conflict also fueled a sizable downturn in major global equity indexes in March, sending stocks into the red. With this said, the majority of the negative return for equities stemmed from weakness in the growth style in general, and mega-cap U.S. technology stocks in particular. Conversely, the value style, dividend payers, and more defensive companies generally produced positive returns, benefiting diversified investors. We're encouraged by the broadening of leadership away from the "Magnificent Seven" group of U.S. tech companies, as it provided a tailwind for our diversified positioning. Contributors and detractors Asset allocation made a strong contribution to relative performance in the quarter. We benefited from having an underweight position in U.S. large-cap equities and a corresponding allocation to a real assets portfolio, which was boosted by the strong showing for its holdings in energy stocks and, to a lesser extent, me...
Getty Images By Gerben Hieminga , Senior Sector Economist, Energy | Rico Luman , Senior Sector Economist, Transport and Logistics Alternative fuels more attractive now as oil shoots higher The Middle East conflict and blockade of the Strait of Hormuz have disrupted oil supply and pushed shipping fuel prices, like marine gas oil (MGO), sharply higher. In this environment, fuel strategy is no longer...
Getty Images By Gerben Hieminga , Senior Sector Economist, Energy | Rico Luman , Senior Sector Economist, Transport and Logistics Alternative fuels more attractive now as oil shoots higher The Middle East conflict and blockade of the Strait of Hormuz have disrupted oil supply and pushed shipping fuel prices, like marine gas oil (MGO), sharply higher. In this environment, fuel strategy is no longer just about cost but also about securing supply and managing price risks. At the same time, higher prices and greater uncertainty are shifting the relative economics of alternative fuels, even as regulatory progress has slowed with the delayed introduction of a global carbon price under the IMO’s Net Zero Framework. Prices for Marine Gas Oil spiked due to the closure of the Strait of Hormuz MGO bunker prices in Rotterdam in $ per tonne; we’ll analyse two scenarios Source: ING Research based on Refinitiv Our modelling shows how the costs and economics of renewable fuels of non-biological origin (RFNBOs) – also called synthetic or e-fuels – change in a high oil price scenario from a Northwest European perspective. The Middle East war has squeezed the supply of oil and oil products. LNG is similarly affected, but less so, as more capacity is coming online, and natural gas continues to be supplied through regional production and pipelines. Our analysis translates the current geopolitical risk into a simple message for shipowners and cargo owners: when oil products spike and gas rises less, the relative economics of LNG and (to a lesser degree) methanol and even ammonia improve quickly, even if the absolute cost of all energy carriers rises. Decarbonisation requires shift to lower-carbon fuels While geopolitical tensions do not alter the fundamental science behind decarbonization and, hence, emissions, they do influence the economics of the business case for different fuels. Traditional marine fuels such as marine gas oil and very low sulphur fuel oil (VLSFO) currently generate ...
AUSTIN, Texas, May 13, 2026 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) reported its financial results for the third quarter of fiscal year 2026, which ended March 31, 2026.
AUSTIN, Texas, May 13, 2026 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) reported its financial results for the third quarter of fiscal year 2026, which ended March 31, 2026.
Bessent's "Suffocating" Iranian Regime Strategy Materializes In Kharg Island Satellite Imagery Treasury Secretary Scott Bessent's description of " suffocating " the Iranian regime through economic and financial pressure, whether via sanctions or the US military blockade of the world's most critical maritime chokepoint, now appears to be showing up in the data. New geospatial intelligence indicates...
Bessent's "Suffocating" Iranian Regime Strategy Materializes In Kharg Island Satellite Imagery Treasury Secretary Scott Bessent's description of " suffocating " the Iranian regime through economic and financial pressure, whether via sanctions or the US military blockade of the world's most critical maritime chokepoint, now appears to be showing up in the data. New geospatial intelligence indicates that Iran's main crude export terminal has gone quiet, while a separate report suggests seaborne oil exports have effectively been halted for the past month. The first report comes from Bloomberg , which cited European satellite imagery showing a massive bottleneck developing at Iran's energy complex: no ocean-going tankers at Kharg Island, the country's main export terminal, on May 8, 9, and 11. This marks the longest stretch in no crude tanker loadings since the US-Iran conflict began nearly three months ago. Kharg Island’s loading terminals were observed completely empty yesterday for the first time since mid-April, despite 19 tankers waiting nearby with ~25M bbl of capacity. A recent 80,000 bbl oil slick suggests sustained infrastructure damage has halted all crude departures since… pic.twitter.com/6EKKigQghP — Windward (@WindwardAI) May 12, 2026 Iran continued loading crude throughout the early weeks of the war, using tankers as floating storage after the US Navy effectively blocked ships from exiting the Hormuz chokepoint in mid-April, creating a massive energy bottleneck for Tehran. At the end of last week, we reported that a massive oil leak spanning dozens of square miles of water was spotted off Kharg Island. This was based on open-source satellite imagery. Image source: Soar " The slick appears visually consistent with oil, " said Leon Moreland, a researcher at the Conflict and Environment Observatory, to Reuters . He believes it covers an area of approximately 45 square km (nearly 18 sq miles). While it's unclear what may have caused it, or the extent of possib...
Hispanolistic/E+ via Getty Images Velo3D, Inc. ( VELO ) just reported its Q1 ’26 numbers , which investors received particularly well. I wanted to go through them and see whether the gap up in pre-market is warranted. By the Numbers Revenue for the first quarter of 2026 came in at $13.8m, which is up a whopping 48.4% y/y and beat estimates by close to $4m, which is a massive beat as well. Looking ...
Hispanolistic/E+ via Getty Images Velo3D, Inc. ( VELO ) just reported its Q1 ’26 numbers , which investors received particularly well. I wanted to go through them and see whether the gap up in pre-market is warranted. By the Numbers Revenue for the first quarter of 2026 came in at $13.8m, which is up a whopping 48.4% y/y and beat estimates by close to $4m, which is a massive beat as well. Looking at the revenue breakdown in more detail, we can see that 3D printer and parts revenue increased 60% y/y, driven by an increase in ASP, the amount of systems sold, and an increase in RPS revenues. Support services, unfortunately, didn’t do as well, as revenue declined 29% y/y to $1.27m. The decline was offset by revenues in the Other category, which increased from just $7,000 last year to over half a million dollars this year. VELO 8-K Going over to the company’s efficiency and profitability, gross margins came in at 17.2% for the quarter, which was highlighted as a “key inflection point” for the company that “validates our operating model as we scale production and continue to drive cost efficiency.” For context, gross margins improved by 970bps, with GAAP net loss reducing to just $7m compared to $25m in the same quarter last year. GAAP net loss per share was ($0.28), and non-GAAP loss per share was ($0.20), which beat estimates by 23 cents , which is a lot better than analysts were expecting. Looking at the company’s financial situation, VELO finished the quarter with around $16.5m in cash and equivalents, and just around $6m in long-term debt. It also had some current debt of $3m, but that is probably going to be refinanced or paid off quite easily. It’s not a bad balance sheet position. Not much debt on books, which means it won’t go bankrupt anytime soon and will most likely survive until it reaches scale in the future. Additionally, the company said in this quarter’s announcement that it raised another $50m in gross proceeds from a direct offering in April. So, it has...
FRNT Financial ( FRFLF ) on Wednesday said its board has launched a formal strategic review process to evaluate alternatives aimed at maximizing shareholder value, including a potential uplisting, mergers and acquisitions, strategic investments, or a going-private transaction. The company said it had received multiple takeover and transaction approaches over the past nine months, prompting the boa...
FRNT Financial ( FRFLF ) on Wednesday said its board has launched a formal strategic review process to evaluate alternatives aimed at maximizing shareholder value, including a potential uplisting, mergers and acquisitions, strategic investments, or a going-private transaction. The company said it had received multiple takeover and transaction approaches over the past nine months, prompting the board to conclude that FRNT may hold unrealized strategic value. FRNT appointed Joseph Gunnar & Co. as financial adviser for the review process, though it said there is no assurance the review will result in a transaction. CEO Stéphane Ouellette said improving sentiment toward the crypto industry, institutional tokenization opportunities, and regulatory progress make it an opportune time to explore partnerships and growth opportunities. More on FRNT Financial Inc. Financial information for FRNT Financial Inc.
Former England boss Eddie Jones is fined and suspended as head coach of Japan for abusing match officials during an under-23 tour of Australia last month.
Former England boss Eddie Jones is fined and suspended as head coach of Japan for abusing match officials during an under-23 tour of Australia last month.
Ofcom attempts to block UK access to site cited in multiple coroners’ reports as it levies fine under Online Safety Act A nihilistic internet suicide forum implicated in over 160 UK deaths has been fined £950,000 by the online regulator in its latest attempt to shut it down. Ofcom said the US-based website remained accessible in the UK despite over a year of warnings. Online safety campaigners hav...
Ofcom attempts to block UK access to site cited in multiple coroners’ reports as it levies fine under Online Safety Act A nihilistic internet suicide forum implicated in over 160 UK deaths has been fined £950,000 by the online regulator in its latest attempt to shut it down. Ofcom said the US-based website remained accessible in the UK despite over a year of warnings. Online safety campaigners have accused the regulator of taking an “interminable” amount of time to act. Continue reading...