rarrarorro Iran is reviewing a U.S.-backed “one-page” peace proposal aimed at ending conflict and restarting broader negotiations. However, Tehran considers it would formally end the conflict while leaving unresolved key U.S. demands that Iran suspend its nuclear programme and reopen the Strait of Hormuz, according to a Reuters report that cites sources. An Iranian foreign ministry spokesperson t...
rarrarorro Iran is reviewing a U.S.-backed “one-page” peace proposal aimed at ending conflict and restarting broader negotiations. However, Tehran considers it would formally end the conflict while leaving unresolved key U.S. demands that Iran suspend its nuclear programme and reopen the Strait of Hormuz, according to a Reuters report that cites sources. An Iranian foreign ministry spokesperson told ISNA that Tehran would respond to the proposal, while Iranian lawmaker Ebrahim Rezaei described it as “more of an American wish-list than a reality.” W hile multiple reports on Wednesday suggested Washington and Tehran are closing in on a one-page memorandum to end the war and begin talks on key issues. “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,” U.S. President Donald Trump told reporters in the Oval Office on Wednesday, adding that “it’ll be over quickly.” A Pakistani source and another person familiar with the matter said negotiators were close to agreeing on a one-page memorandum that would formally end the conflict. The deal would include talks on reopening the Strait of Hormuz, lifting U.S. sanctions on Iran, and placing limits on Iran’s nuclear programme, the report added . The memo would halt hostilities and launch 30 days of talks on key issues. Key sticking points remain Iran’s uranium enrichment program, sanctions relief, and regional security issues. WTI crude futures stabilized above $95 per barrel on Thursday after tumbling over 13% in the previous session, as investors weighed the prospects for a Middle East peace deal. Dear readers : We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion. More on oil This Market Looks Like 1999: Investors Should Prepare For A Bubble Burst And Recession U.S. Economy: The Housing Market Worsens Dow Jones, Nasdaq And S&P 500 Intraday Outlook: Stocks...
Sports betting has seen significant growth in recent years. Now, the newest iteration of online betting is emerging, with prediction markets like Kalshi opening up new avenues for individuals to trade on sporting events, and even political and economic decisions. It is another iteration of financial markets, though it currently operates in a legal gray area. It is hard to predict exactly which pla...
Sports betting has seen significant growth in recent years. Now, the newest iteration of online betting is emerging, with prediction markets like Kalshi opening up new avenues for individuals to trade on sporting events, and even political and economic decisions. It is another iteration of financial markets, though it currently operates in a legal gray area. It is hard to predict exactly which platforms will win the most customers in prediction markets, sports betting, and other trading platforms that pop up in the years ahead. But there is one data provider that should win regardless of who comes out ahead: Genius Sports (NYSE: GENI) . Image source: Getty Images. Continue reading
Aker BP press release ( AKRBF ): Q1 GAAP EPS of $1.20. Total income of $3.03B (-5.3% Y/Y) beats by $70M . Capital expenditure: USD 1.6 billion, reflecting high activity across the development portfolio. Dividend: USD 0.6615 per share was paid in the quarter. Net production averaged 398 mboepd, with production efficiency of 97 percent across the portfolio. More on Aker BP ASA Aker BP: Favorable Pro...
Aker BP press release ( AKRBF ): Q1 GAAP EPS of $1.20. Total income of $3.03B (-5.3% Y/Y) beats by $70M . Capital expenditure: USD 1.6 billion, reflecting high activity across the development portfolio. Dividend: USD 0.6615 per share was paid in the quarter. Net production averaged 398 mboepd, with production efficiency of 97 percent across the portfolio. More on Aker BP ASA Aker BP: Favorable Prospects Continue (Maintaining Buy) Aker BP: A High-Yield Dividend Compounder With Structural Cost Advantage Aker BP ASA (AKRBY) Q4 2025 Earnings Call Transcript Aker BP reports Q4 results; initiates FY26 outlook Historical earnings data for Aker BP ASA
Dangote Industries Ltd is seeking more opportunities to raise money from global investors after the African company made its first foray into international markets last month. The industrial conglomerate is looking to the bond market to potentially fund some of its businesses, including energy and fertilizer assets, Dangote’s chief financial officer, Murat Erden , told Bloomberg News. Dangote Fert...
Dangote Industries Ltd is seeking more opportunities to raise money from global investors after the African company made its first foray into international markets last month. The industrial conglomerate is looking to the bond market to potentially fund some of its businesses, including energy and fertilizer assets, Dangote’s chief financial officer, Murat Erden , told Bloomberg News. Dangote Fertiliser Ltd , which operates Africa’s largest urea plant, raised $750 million from a private bond placement in April. Owned by Africa’s richest man, billionaire Aliko Dangote , the company also spans cement and infrastructure businesses and is critical to the economy of Nigeria, where it is headquartered. Dangote Cement Plc alone generated almost $3.2 billion of revenue last year, while Dangote Sugar Refinery Plc produced around $610 million. The group’s oil refinery, the biggest in Africa, plans to increase capacity from 650,000 barrels of crude per day to 1.4 million by 2028. Lagos-based Dangote, who is worth $35.4 billion on the Bloomberg Billionaires Index, has set a target of investing at least $40 billion to fund growth over the next five years. He wants to build the biggest deep seaport in Nigeria, boost output of urea to 12 million tons by 2030, diversify into liquefied gas, and construct a 20,000 megawatt power plant. Erden said that the company is “opportunistically” looking at issuing bonds to align the financing of some subsidiaries with their dollar revenues and to fund long-term capital investment programs. Plans to raise funds also include selling about 10% of the oil refinery in an IPO on multiple African stock exchanges this year. Seeking Core Investors While several Dangote entities have listed shares in Nigeria, none had raised financing from international capital markets before April’s transaction. “For decades bankers have covered Dangote and have been hoping for a capital markets event across the group, so this was a very long time coming,” said Stefan ...
From Nov. 19 to Nov. 20, Inner Mongolia Rural Commercial Bank put 57 homes up for auction on Alibaba’s asset auction platform —bare-shell apartments in Hulunbuir listed at slightly below market rate. As of Nov. 28, not one had sold, and not a single user had registered to bid. The bank is far from alone. A Caixin review found that lenders across China — including the “Big Six” state-owned banks — ...
From Nov. 19 to Nov. 20, Inner Mongolia Rural Commercial Bank put 57 homes up for auction on Alibaba’s asset auction platform —bare-shell apartments in Hulunbuir listed at slightly below market rate. As of Nov. 28, not one had sold, and not a single user had registered to bid. The bank is far from alone. A Caixin review found that lenders across China — including the “Big Six” state-owned banks — are listing all manner of real estate on auction platforms, from apartments and shops to office buildings and parking garages. Many of these properties arrived via debt-for-asset swaps: after failing to sell at court-ordered auctions, ownership was transferred from the debtor to the bank. These properties are distinct from judicial auction properties because the banks hold title.
Earnings Call Insights: eHealth (EHTH) Q1 2026 Management view "We're pleased with our first quarter results, which came in ahead of expectations. driven by stronger-than-anticipated Medicare enrollment volume at favorable unit economics." (CEO & Director Derrick Duke) "From a financial standpoint, our priorities this year are achieving breakeven or better operating cash flow and positioning the c...
Earnings Call Insights: eHealth (EHTH) Q1 2026 Management view "We're pleased with our first quarter results, which came in ahead of expectations. driven by stronger-than-anticipated Medicare enrollment volume at favorable unit economics." (CEO & Director Derrick Duke) "From a financial standpoint, our priorities this year are achieving breakeven or better operating cash flow and positioning the company for sustainable, profitable growth once the Medicare Advantage reset cycle is complete." (CEO & Director Duke) "During the quarter, we implemented headcount reductions and vendor consolidation initiatives. These actions are expected to reduce our fixed operating cost base by approximately $30 million in 2026 compared to 2025, representing roughly a 20% reduction." (CEO & Director Duke) "First quarter revenue was $88 million, ahead of our expectations. GAAP net loss was $4.7 million and adjusted EBITDA was $9 million, exceeding our internal plan." (CEO & Director Duke) "Last month, we launched final expense insurance offerings." (CEO & Director Duke) "We delivered a strong start to the year, meeting our revenue, earnings and operating cash flow expectations and achieving a greater Medicare enrollment profitability compared to a year ago." (Senior VP & CFO John Dolan) Outlook "Based on our execution year-to-date and with the annual enrollment period still ahead of us, we are maintaining our 2026 guidance ranges for revenue, GAAP net income, adjusted EBITDA and operating cash flow." (Senior VP & CFO Dolan) "We are updating our outlook for 2026 net adjustment revenue, which is now expected to be in the range of $8 million to $20 million." (Senior VP & CFO Dolan) "Our revised 3-year outlook, which we published today in our earnings slides, reflects a return to revenue growth in 2027 alongside adjusted EBITDA margin expansion, positive operating cash flow and breakeven or better free cash flow." (CEO & Director Duke) "Our 3-year forecast reflects mid-single-digit revenue g...
Earnings Call Insights: Xperi (XPER) Q1 2026 Management view "Overall, the first quarter results are evidence of the success we're achieving in delivering on our financial objectives and the notable progress we've made in delivering on our monetization strategy that we outlined for the year." (President, CEO & Director Jon Kirchner) "During the quarter, our TiVo One footprint grew to exceed 5.5 mi...
Earnings Call Insights: Xperi (XPER) Q1 2026 Management view "Overall, the first quarter results are evidence of the success we're achieving in delivering on our financial objectives and the notable progress we've made in delivering on our monetization strategy that we outlined for the year." (President, CEO & Director Jon Kirchner) "During the quarter, our TiVo One footprint grew to exceed 5.5 million monthly active users, and our AutoStage footprint grew to over 16 million vehicles globally." (President, CEO & Director Kirchner) "Taken together, this progress combined to help us accelerate advertising monetization, resulting in Media Platform revenue growth of 45% year-over-year." (President, CEO & Director Kirchner) "Just after the end of the quarter, we signed a multiyear partnership with Samba TV" and "we're adding intelligence and measurement capabilities to TiVo One Connected TV inventory." (President, CEO & Director Kirchner) "Average revenue per user for TiVo One was $7.10, a slight decrease from the fourth quarter" and "we expect ARPU to advance toward double-digit dollars in the second half of 2026." (President, CEO & Director Kirchner) "We posted $25 million of adjusted EBITDA or 22% of revenue" and "GAAP loss per share was $0.17 and non-GAAP earnings per share was $0.23." (Chief Financial Officer Robert Andersen) Outlook "Given these results, we reaffirm the guidance we gave for the full year." (President, CEO & Director Kirchner) "We are reaffirming our annual guidance that was provided in February" and "our revenue range of $440 million to $470 million take into account our view of broader market risks across our business." (Chief Financial Officer Andersen) "We now expect revenue for the first half and second half of the year to be relatively even as opposed to being slightly more back half weighted as previously projected." (Chief Financial Officer Andersen) Analysts’ estimates were provided, but the JSON uses numeric quarters rather than the requir...
This astounding true story, written by Neil Forsyth, asks the question: what if the A-Team was comprised entirely of disgruntled customs officers? Imagine The A-Team but instead of a band of wrongfully convicted US army commandos who become soldiers of fortune, it’s a group of dissatisfied baggage searchers and VAT investigators who have taken their ties off. Are you sold? Good! Because Legends is...
This astounding true story, written by Neil Forsyth, asks the question: what if the A-Team was comprised entirely of disgruntled customs officers? Imagine The A-Team but instead of a band of wrongfully convicted US army commandos who become soldiers of fortune, it’s a group of dissatisfied baggage searchers and VAT investigators who have taken their ties off. Are you sold? Good! Because Legends is a six-part thriller by Neil Forsyth based on the true story of a group of ordinary men and women recruited from the rank and file of Her Majesty’s Customs in the early 90s, given three weeks’ training and sent undercover to infiltrate and bring down two massive drug cartels that were filling Britain’s streets with heroin and really pissing Mrs Thatcher – head of the party of law and order, don’t you know – off. Steve Coogan – possibly in need of a spot of emotional relief after a career spent playing losers or Jimmy Savile-shaped villains – stars as former undercover police officer Don Clarke. He puts the team together for the home secretary (Alex Jennings – this is statutory) and HMC’s director of investigations Angus Blake (Douglas Hodge) despite neither of them seemingly offering any money or support for the project. Continue reading...
Malaysia held its benchmark interest rate steady for a fifth straight meeting, despite heightened risks to growth from the prolonged conflict in the Middle East. Bank Negara Malaysia held the overnight policy rate at 2.75% on Thursday as expected by all 25 economists in a Bloomberg survey. It described the rate as “appropriate and consistent with the outlook of continued price stability and sustai...
Malaysia held its benchmark interest rate steady for a fifth straight meeting, despite heightened risks to growth from the prolonged conflict in the Middle East. Bank Negara Malaysia held the overnight policy rate at 2.75% on Thursday as expected by all 25 economists in a Bloomberg survey. It described the rate as “appropriate and consistent with the outlook of continued price stability and sustainable economic growth.” BNM has adjusted borrowing costs just once in the past two years, with a quarter-point cut in July 2025. “Uncertainties surrounding the duration and severity of the Middle East conflict will affect the outlook of domestic growth and inflation,” the central bank said in a statement. “Nevertheless, Malaysia’s strong fundamentals will continue to underpin the economy’s resilience.” Economic growth eased to 5.3% in the first quarter as fallout from the war on Iran began to weigh on major industries. Elevated oil prices have also raised the government’s fuel subsidy spending to roughly ten times that of pre-war levels. Still, Malaysia is seen as among the best-placed in the region to weather uncertainties spurred by the energy shock. Price pressures remain muted relative to Southeast Asian neighbors that are net energy importers, with the Philippines earlier Thursday reporting a surprise slowdown in growth. Read More: Marcos Faces Crisis as Fragile Philippines Punished by Oil Shock The ringgit was up 0.3% versus the dollar at 3.91, holding gains after the decision. A strong currency has also helped temper imported inflation. The ringgit has weakened less than 1% against the dollar since the war in Iran broke out and is up more than 3% year-to-date, making it Asia’s best-performing currency in 2026.
She hit the big time with 4 Non Blondes, then penned hits for everyone from Christina Aguilera to Courtney Love. But as an intimate new film about her life shows, she’s had to confront illness, family trauma and an identity crisis When Linda Perry agreed to let the director Don Hardy film her at work in her studio, she had no idea what she was getting into. Perry – the singer, producer and wildly ...
She hit the big time with 4 Non Blondes, then penned hits for everyone from Christina Aguilera to Courtney Love. But as an intimate new film about her life shows, she’s had to confront illness, family trauma and an identity crisis When Linda Perry agreed to let the director Don Hardy film her at work in her studio, she had no idea what she was getting into. Perry – the singer, producer and wildly successful songwriter-for-hire – had been friends with Hardy since she scored his 2020 film, Citizen Penn, about the actor Sean Penn’s charity work in Haiti. If nothing else, Perry hoped she might use some of Hardy’s footage as content on her Instagram account: “So he just started showing up and I soon forgot he was there.” After a few weeks, Hardy told Perry he had edited 30 minutes of footage and shown it to colleagues. “He said: ‘We think there’s an incredible documentary to be made here,’” she recalls. “And so I said: ‘OK, go ahead but don’t talk to me about it. I don’t want to know anything. Just do what you’re going to do and if I said it or did it, I’ll stand by it.’ And then things just started to go cuckoo for me.” Continue reading...
After 10 years without a Women’s Super League title, City are champions once more – here’s how they did it The sight of Rebecca Knaak fighting back tears on hearing the full-time whistle last Sunday summed up what this means. The Manchester City defender had sustained a painful shoulder injury during a victory over Liverpool snatched by her late header so probably had her own reasons for finding t...
After 10 years without a Women’s Super League title, City are champions once more – here’s how they did it The sight of Rebecca Knaak fighting back tears on hearing the full-time whistle last Sunday summed up what this means. The Manchester City defender had sustained a painful shoulder injury during a victory over Liverpool snatched by her late header so probably had her own reasons for finding the combination of relief, soreness and joy a little overwhelming. But her emotions could have been felt by any of the longer-serving season-ticket holders in the stands after a decade-long wait for a Women’s Super League title. When City lifted this trophy in 2016 , the landscape of the English women’s game was wholly different. The club, then managed by Nick Cushing, completed the 16-game campaign unbeaten and clinched the title on a day when they deployed a starting XI featuring nine English and two Scottish players from a squad that included only six non-English players. It was a time before the wider, full-time professionalism of the league and the influx of overseas talent. Continue reading...
Something of an obsessive with tidiness, the interim coach has beaten all the club’s closest rivals in his short time in charge We’ll get on to the more pressing business of whether Michael Carrick deserves the full-time Manchester United job in a moment. There’s plenty to discuss: tactics and philosophy, character and comportment, the squad he inherited from Ruben Amorim and how United might stre...
Something of an obsessive with tidiness, the interim coach has beaten all the club’s closest rivals in his short time in charge We’ll get on to the more pressing business of whether Michael Carrick deserves the full-time Manchester United job in a moment. There’s plenty to discuss: tactics and philosophy, character and comportment, the squad he inherited from Ruben Amorim and how United might strengthen it in the summer window. But first: I want you to imagine eating an entire dover sole with the bones left in, while under the gaze of the former England international Trevor Francis. You’re in a fancy restaurant in Birmingham. You’re 18 years old, and have ordered the fish with potatoes on the assumption that it will essentially be a posh chippy supper. The sole arrives, the waiter asks whether you want it filleted, and because you don’t know what that means, you say no. Immediately you feel the painful prickles on your tongue, the unsatisfying gnash of skeletal marine matter between your teeth. Naturally, you don’t want to look rude or foolish in front of your new manager. So you put on a brave face, and keep chewing. Meanwhile, Trevor Francis keeps watching. Continue reading...
Briton, who defends his WBO title against Daniel Dubois, talks Fury-Joshua, doping and his punditry sideline “The only expectation I have is that it will end in a knockout,” Fabio Wardley says cheerfully as he looks ahead to his dangerous first defence of the WBO world heavyweight title against Daniel Dubois in Manchester on Saturday night. “Don’t Blink” is the promotional tagline for a battle bet...
Briton, who defends his WBO title against Daniel Dubois, talks Fury-Joshua, doping and his punditry sideline “The only expectation I have is that it will end in a knockout,” Fabio Wardley says cheerfully as he looks ahead to his dangerous first defence of the WBO world heavyweight title against Daniel Dubois in Manchester on Saturday night. “Don’t Blink” is the promotional tagline for a battle between two powerful yet vulnerable heavyweights and, for once, this is less boxing bluster than reasonable advice for anyone watching a fight which could be the most dramatic heavyweight contest this year. Wardley and Dubois are devastating punchers who also often look at risk of losing. Dubois has been beaten three times in 25 fights while dispatching his other opponents with brutal efficiency. Two years ago, the unbeaten Wardley came close to defeat against Frazer Clarke in their first fight, which ended up being a draw after a damaging bloodbath for both men. He knocked out Clarke after two savage minutes in the rematch but then lost every round against Justis Huni before producing a chilling late stoppage of the skilful Australian last June. Continue reading...
Ronnie is using Billy’s name to register for free streaming services and gyms, which Billy objects to. You get to preside over this trial • Find out how to get a disagreement settled or become a juror Unlike the kettle or the wifi, my contact details aren’t for communal use. Plus it’s annoying Continue reading...
Ronnie is using Billy’s name to register for free streaming services and gyms, which Billy objects to. You get to preside over this trial • Find out how to get a disagreement settled or become a juror Unlike the kettle or the wifi, my contact details aren’t for communal use. Plus it’s annoying Continue reading...
Glee Club, Glasgow The masc lesbian comic from New York delivers a superb set with big laughs and twisty logic Old-school standup celebrating the traditional masculine virtues? It’s fallen a little out of fashion. But it’s a different story when a masc lesbian comic delivers that material – a story of gleeful iconoclasm, big laughs and twisty gender logic. Ashley Gavin was a jobbing standup who bl...
Glee Club, Glasgow The masc lesbian comic from New York delivers a superb set with big laughs and twisty logic Old-school standup celebrating the traditional masculine virtues? It’s fallen a little out of fashion. But it’s a different story when a masc lesbian comic delivers that material – a story of gleeful iconoclasm, big laughs and twisty gender logic. Ashley Gavin was a jobbing standup who blew up online during the pandemic, and whose output – including viral “crowd work” clips and the podcast We’re Having Gay Sex – has secured an ardent, largely queer fanbase. She’s like their best pal or big sis tonight, recounting how a woman who dresses like a teenaged wannabe car mechanic (and who – tongue firmly in cheek – considers more feminine women to be “a bunch of pussy-ass bitches”) came to be freezing her eggs. The pleasure is in how Gavin lays siege to gender convention, with one routine after another scrambling the signifiers of what we expect men, women, or indeed masculine lesbians, to do and be. The opener finds “lesbian with a Brazilian” Gavin submitting herself to a waxing treatment. Elsewhere, the New Yorker ventures the argument – while savouring the discomfort it generates – that the clitoris is essentially a “tiny dick”. Later, she muses on penetration (might it not equally be seen as “envelopment”?) and contends that two “boy lesbians” hooking up with one another is “against God”. Continue reading...
In my constituency, volunteers chat with people in deprived areas – most of whom find they are to the left of their voting intentions. The results are exhilarating Most people have made up their minds, and nothing you can say will change them: that’s the credo of parties such as Labour and the Democrats. Don’t challenge voters on the doorstep. Use focus groups to find out what they want, and give ...
In my constituency, volunteers chat with people in deprived areas – most of whom find they are to the left of their voting intentions. The results are exhilarating Most people have made up their minds, and nothing you can say will change them: that’s the credo of parties such as Labour and the Democrats. Don’t challenge voters on the doorstep. Use focus groups to find out what they want, and give it to them. Follow, don’t lead. But all that’s on them, not us. It’s true that conventional attempts at persuasion fail. A meta-analysis and original experiments by the political scientists Joshua Kalla and David Broockman found that “the best estimate of the effects of campaign contact and advertising” in US general elections “is zero”. But this says nothing about voters and everything about the useless approach of the parties trying to reach them. George Monbiot is a Guardian columnist Continue reading...
Aldi Irvan Darmansyah/iStock via Getty Images Market Summary During the first quarter of 2026, market leadership shifted as small-cap stocks outperformed large caps amid a rotation away from crowded trades by investors. The Russell 2000® small-cap benchmark surpassed the broader market, as measured by the S&P 500®, and growth stocks (particularly large caps) pulled back as value stocks surged, sig...
Aldi Irvan Darmansyah/iStock via Getty Images Market Summary During the first quarter of 2026, market leadership shifted as small-cap stocks outperformed large caps amid a rotation away from crowded trades by investors. The Russell 2000® small-cap benchmark surpassed the broader market, as measured by the S&P 500®, and growth stocks (particularly large caps) pulled back as value stocks surged, signaling a notable change in investor preferences. Non-U.S. equities outperformed U.S. equities for much of the quarter, though that trend reversed sharply in March as the blockade of the Strait of Hormuz weighed more heavily on energy-dependent economies outside the U.S. While the quarter ended with a sharp rally on hopes that hostilities might ease and the Strait of Hormuz could reopen, markets remained highly sensitive to geopolitical developments. Energy was the top-performing sector across market capitalizations, benefiting from higher oil prices and driving strong returns for value-oriented benchmarks. Fund Performance The Virtus KAR Small-Cap Core Fund returned 1.54% ((Class I)) in the quarter, outperforming the Russell 2000 Index, which returned 0.89%. Stock selection and an overweight to the industrials sector, combined with stock selection in the consumer discretionary sector, contributed positively to performance. Stock selection and an overweight to the financials sector detracted from performance, as did an underweight to the energy sector. Toro Company and RBC Bearings were the largest contributors to performance during the quarter. > Toro, a leading provider of outdoor maintenance equipment, saw its professional business continue to grow, which was due in part to healthy underground equipment sales. Also, the company's profitability continues to improve. > RBC, which manufactures highly engineered precision bearings for many industries, continues to benefit from robust demand across the aerospace and defense end markets. CorVel Corporation and Pool Corporation ...
Kembara, a technology growth fund backed by the European Union, made its first investment, supporting a British startup that builds quantum computers running on silicon chips. Quantum Motion closed a $160 million Series C financing round led by Kembara and venture firm DCVC , with funds from the British Business Bank and Firgun Ventures, the startup said in a statement Thursday. Quantum Motion was...
Kembara, a technology growth fund backed by the European Union, made its first investment, supporting a British startup that builds quantum computers running on silicon chips. Quantum Motion closed a $160 million Series C financing round led by Kembara and venture firm DCVC , with funds from the British Business Bank and Firgun Ventures, the startup said in a statement Thursday. Quantum Motion was formed in 2017 by professors from Oxford University and University College London, part of a wave of quantum computing companies founded by scientists after research advances in the field. Many of these firms are now competing with the likes of Microsoft Corp. and Alphabet Inc. ’s Google to build computers based on quantum mechanics that can outperform today’s machines. While a breakthrough could lead to advances in fields ranging from cybersecurity to drug development, the industry remains in a research phase with commercial uses years away. Several companies in the field are developing their own circuitry and custom semiconductors . Intel Capital backed a Dutch startup making quantum processors earlier this week. Quantum Motion wants to build quantum computers with complementary metal-oxide-semiconductor (CMOS) sensors, tapping a technology already used to make chips for phone cameras and industrial imaging. Read More: Quantum Computing Is Finally Here. But What Is It? Relying on an existing manufacturing industry will give a leg up over competitors that choose to build their own hardware as quantum machines get larger, according to Quantum Motion Chief Executive Officer James Palles-Dimmock. “We’re not talking about massive retrofits for the future,” he said in an interview. He said Quantum Motion has partnered with chip firm GlobalFoundries Inc. , but declined to share production details. The startup has shipped a computer to the UK’s National Quantum Computing Centre, a research institution, and plans to announce more customers later this year. With the new funding, P...