It was devastating to hear investigators say that a cigarette was likely to have sparked last November’s deadly Hong Kong housing estate fire that raged for more than 43 hours, killed 168 people and left thousands without homes. There is growing hope that similar tragedies at renovation or construction sites could be prevented by banning smoking during such work. The public inquiry into the Wang F...
It was devastating to hear investigators say that a cigarette was likely to have sparked last November’s deadly Hong Kong housing estate fire that raged for more than 43 hours, killed 168 people and left thousands without homes. There is growing hope that similar tragedies at renovation or construction sites could be prevented by banning smoking during such work. The public inquiry into the Wang Fuk Court blaze also learned that despite 17 checks at the site, Labour Department inspectors...
Rising Jet Fuel And Ticket Prices Could Disrupt Summer Air Travel Submitted by Tsvetana Paraskova of OilPrice.com Summer travel could be disrupted for millions of airline passengers as airlines pass on higher jet fuel prices onto air fares and cancel unprofitable routes, according to the global association Airports Council International. The surge in jet fuel prices as a result of the Middle East ...
Rising Jet Fuel And Ticket Prices Could Disrupt Summer Air Travel Submitted by Tsvetana Paraskova of OilPrice.com Summer travel could be disrupted for millions of airline passengers as airlines pass on higher jet fuel prices onto air fares and cancel unprofitable routes, according to the global association Airports Council International. The surge in jet fuel prices as a result of the Middle East crisis leads to higher air fares. Passengers should be prepared for higher ticket prices for longer, Stefano Baronci, the Airports Council International’s director general of Asia Pacific and Middle East, told Bloomberg in an interview published on Wednesday. Supplies of the fuel from the Middle East cannot move past the Strait of Hormuz, while Asian refiners slashed exports amid reduced run rates and preference and/or orders to keep more supply for their respective domestic markets. So, the recent crash in global exports of jet fuel – which is the most stressed barrel during the ongoing supply shock – was not unexpected. Jet fuel supplies from Northeast Asia and India West Coast crashed and tightened the global jet fuel market so much that officials and airline executives started talking about fuel shortages in a few weeks’ time. Fatih Birol, executive director of the International Energy Agency (IEA), warned in mid-April that Europe has “maybe six weeks or so” of remaining jet fuel supply. But the Airports Council International’s Baronci dismissed concerns about shortages, noting that the high prices remain the key problem for the industry going forward. With higher air fares, demand destruction is inevitable and airlines could opt to slash more routes this summer, he added. Earlier this month, Lufthansa Group, Europe’s biggest airline, said it expects the surge in jet fuel prices to cost it an additional $2 billion this year as the closure of the Strait of Hormuz “is leading to a shortage in kerosene supply and thus to a significant increase in kerosene prices.” The war ...
Most people care about artificial intelligence (AI) only as much as they interact with it. Whether it's using ChatGPT to put together a workout plan, having Claude walk you through coding your newest app idea, or asking Alphabet 's Google Gemini to turn your Google Sheets into charts, that's where it starts and ends for them. However, behind the scenes, a complex ecosystem of hardware and cloud in...
Most people care about artificial intelligence (AI) only as much as they interact with it. Whether it's using ChatGPT to put together a workout plan, having Claude walk you through coding your newest app idea, or asking Alphabet 's Google Gemini to turn your Google Sheets into charts, that's where it starts and ends for them. However, behind the scenes, a complex ecosystem of hardware and cloud infrastructure ensures the AI tools you interact with run as planned. And as companies continue to invest in AI development, those working on AI infrastructure are seeing increased demand and making sound investments. Nvidia (NASDAQ: NVDA) , Taiwan Semiconductor Manufacturing (NYSE: TSM) (TSMC), and Amazon (NASDAQ: AMZN) are great examples. These three cover the full AI stack, including chip design, chip manufacturing, and cloud infrastructure. If you're looking to invest in AI infrastructure stocks, they are great go-to options. Continue reading
Generating cash is essential for any business, but not all cash-rich companies are great investments. Some produce plenty of cash but fail to allocate it effectively, leading to missed opportunities.
Generating cash is essential for any business, but not all cash-rich companies are great investments. Some produce plenty of cash but fail to allocate it effectively, leading to missed opportunities.
Blackstone Digital Infrastructure Trust Inc. raised $1.75 billion in a US initial public offering, as investors’ appetite for artificial intelligence infrastructure shows no sign of easing. The asset manager’s data-center acquisition vehicle aims to buy already-built and leased properties benefiting from the AI boom. It sold 87.5 million shares at a fixed price of $20 per share, according to a sta...
Blackstone Digital Infrastructure Trust Inc. raised $1.75 billion in a US initial public offering, as investors’ appetite for artificial intelligence infrastructure shows no sign of easing. The asset manager’s data-center acquisition vehicle aims to buy already-built and leased properties benefiting from the AI boom. It sold 87.5 million shares at a fixed price of $20 per share, according to a statement Wednesday. The real estate investment trust will target newly built data centers valued at between $250 million and $1.5 billion and leased to investment-grade hyperscalers, its filings show. The move encapsulates two of the $1.3 trillion alternative-asset manager’s biggest initiatives: its bid to become the world’s largest investor in AI infrastructure and its push beyond pensions and endowments to reach individual investors. The offering also builds on Blackstone’s broader push into data centers. “With an estimated $1 trillion total addressable stabilized data center market expected over the next five years, we believe the industry represents a substantial investment opportunity,” the company said in its earlier disclosure. Investors in the offering will receive an additional 1% of their purchase in bonus shares, rounded down to the nearest whole share, according to the filings. An affiliate of Blackstone Inc. had indicated an interest in buying as much as $200 million of shares in the vehicle, less the aggregate purchase price of the bonus shares, the filings show. For the latest news on equity capital markets activity in the US, Canada and Latin America, follow the channel or visit NI BFWECMUS . To subscribe to ECM Watch , Bloomberg’s daily roundup of news from around the region, click here . Blackstone Digital Infrastructure Trust will be externally managed by a Blackstone-affiliated entity in return for base and incentive fees and will have priority over other Blackstone funds for data-center acquisitions sourced by the firm. The offering is being led by Goldma...