Investors are looking back at 2022 for clues on how the risk from the Iran war unfolds across equity markets. The key concern: an inflation shock that lifts correlations within stock indexes and spurs an extended period of higher volatility. The spike in oil and natural gas is rippling through supply chains, threatening to raise prices not just for gasoline but for a wide range of goods and servic...
Investors are looking back at 2022 for clues on how the risk from the Iran war unfolds across equity markets. The key concern: an inflation shock that lifts correlations within stock indexes and spurs an extended period of higher volatility. The spike in oil and natural gas is rippling through supply chains, threatening to raise prices not just for gasoline but for a wide range of goods and services. That’s shifted traders’ attention away from single stocks, as macroeconomic worries begin to outweigh more granular themes such as artificial intelligence. This, in turn, has narrowed the volatility premium for individual shares versus the wider S&P 500 Index and shrunk trading volumes. While the VIX has been more sensitive to drops in the S&P 500, the overall realized moves at the index level have remained muted compared with past crises. The volatility gauge hasn’t closed above 30 points this year, after spending two weeks above that level during the tariff turmoil of last April. In 2022, the VIX surpassed 30 points periodically following Russia’s invasion of Ukraine and averaged 25.64, more than 6 points above this year’s mean. The S&P 500 fell 19% that year as the Federal Reserve hiked rates multiple times. “Investors are looking to the 2022 playbook for clues on how the current situation in Iran plays out for markets,” said UBS Group AG derivatives strategist Kieran Diamond . “The risk is an inflation shock, which could drive higher correlations within equity markets, and potentially switch the index volatility regime from fast VIX rises and reversals to one where the VIX floor rises and volatility is sustainably higher.” At the same time, the Cboe Skew Index of market stress has calmed in recent days, possibly because of the unwinding of hedges as investors became disillusioned with vanilla index puts, according to UBS strategists. The low level of realized volatility to the downside since the Middle East escalation may have also caused a general re-pricing of the...
It’s exceedingly expensive to own a pet, prompting owners to delay veterinary visits or reconsider adopting one in the first place. Yet, animal health companies’ earnings keep growing. That’s down to the unwavering love between owners and their pets. While some owners might extend the time between their pets’ annual wellness visits to save money, they’ll shell out when their darling is truly sick ...
It’s exceedingly expensive to own a pet, prompting owners to delay veterinary visits or reconsider adopting one in the first place. Yet, animal health companies’ earnings keep growing. That’s down to the unwavering love between owners and their pets. While some owners might extend the time between their pets’ annual wellness visits to save money, they’ll shell out when their darling is truly sick or hurt, and that care is often the most expensive — and lucrative. Last year, Matthew Joseph, a 41-year-old New Yorker, spent $11,000 on lifesaving spleen surgery for his now 14-year-old pooch Frankie. “The amount that we spend on Frankie, you could probably buy a Hyundai, or finance one at least.” Animal diagnostic testing and pharmaceutical companies like IDEXX Laboratories, Inc. , Zoetis Inc. and Elanco Animal Health Inc. , along with pet store companies like Petco Health & Wellness Co. and Chewy, Inc. are reaping the benefits. Pet-care costs have been rising faster than overall inflation. The consumer price index for all urban consumers increased 2.4% in February from a year earlier, while pet services — including veterinary care — jumped 5.1%, according to data from the Bureau of Labor Statistics. Total vet visits declined 3% in the fourth quarter of last year, marking the 16th straight quarter of declines, Bloomberg Intelligence analyst Ann-Hunter van Kirk wrote in a note , adding there’s only low correlation with the performance of pharmaceutical pet companies. Last month, vet visits fell 1.7% year-over-year, according to data provided by Vetsource. “People in a down economy, they may not be taking their pet to the vet quite as often as they need to, but they also still know the main things that they need to do — those maintenance therapies — and they’re still doing that,” van Kirk said in an interview. Pet owners are still spending, Zoetis Chief Financial Officer Wetteny Joseph said at the Leerink Global Healthcare Conference on March 9, specifically for visits tha...
Mistakes are a natural part of retirement planning. Maybe you save in the wrong type of account and miss key tax advantages, or you forget to claim your 401(k) match, forcing you to save more on your own. Those mistakes are frustrating, but they're often not disastrous. You can usually make up for them with a few careful choices. There's one thing in particular that I did years ago that more than ...
Mistakes are a natural part of retirement planning. Maybe you save in the wrong type of account and miss key tax advantages, or you forget to claim your 401(k) match, forcing you to save more on your own. Those mistakes are frustrating, but they're often not disastrous. You can usually make up for them with a few careful choices. There's one thing in particular that I did years ago that more than makes up for some of the smaller retirement planning mistakes I've made along the way. Starting early makes reaching your savings goals much easier I began saving for retirement at 20, and while I wasn't contributing a ton of money at that time, those earliest contributions will likely prove to be some of my most valuable. They'll remain invested the longest, which means they'll probably appreciate the most over time. It might not seem like a few years will make that much difference, but it matters more than you'd think. Consider $1,000 invested for 40 years with an 8% average annual return. It would be worth about $21,725. After being invested for 41 years, that $1,000 investment would be worth about $23,462 -- over $1,700 more. Obviously, if you set aside more money, your retirement savings will grow even faster. You'll usually have to invest far less of your own money to retire comfortably when you start early than you would if you'd waited until later in life. Say you wanted to retire with $1 million in savings. If you earned an 8% average annual return and you planned to retire at 65, you could reach your goal by saving just $322 per month if you start at age 25. Wait until age 30 to start, and you now have to save $484 per month to reach the same $1 million target. Contribute what you can, even if it's small The main reason most people don't begin saving for retirement early is that they cannot afford to do so. They have too many bills right now and are trying to save for more immediate goals, like buying a home or a car. This is understandable, but if you can spare e...
Available for over a year Today, Laura, Paddy and Henry discuss whether Iranian missiles could feasibly strike the UK, as Israel has claimed. The Israeli Defence Force said Iranian missiles ‘can reach London, Paris or Berlin.’ The claim was prompted by an attempted but unsuccessful missile strike on the UK-US Diego Garcia base. Sir Richard Shirreff, a former senior Nato commander has told Paddy we...
Available for over a year Today, Laura, Paddy and Henry discuss whether Iranian missiles could feasibly strike the UK, as Israel has claimed. The Israeli Defence Force said Iranian missiles ‘can reach London, Paris or Berlin.’ The claim was prompted by an attempted but unsuccessful missile strike on the UK-US Diego Garcia base. Sir Richard Shirreff, a former senior Nato commander has told Paddy we should take the the claim seriously, but cabinet minister Steve Reed told Laura there is "no assessment to substantiate" it. We also look at whether the government might consider profit caps on energy companies, as has been suggested by a government advisor. Apply for tickets to Castfest here https://www.bbc.co.uk/showsandtours/shows/castfest-2026 You can join our Newscast online community here: https://bbc.in/newscastdiscord Get in touch with Newscast by emailing newscast@bbc.co.uk or send us a WhatsApp on +44 0330 123 9480. New episodes released every day. If you're in the UK, for more News and Current Affairs podcasts from the BBC, listen on BBC Sounds: https://bbc.in/4guXgXd Newscast brings you daily analysis of the latest political news stories from the BBC. The presenter was Laura Kuenssberg, Paddy O’Connell. It was made by Chris Flynn with Chloe Scannapieco. The social producer was Grace Braddock. The technical producer was Mike Regaard. The assistant editor is Chris Gray. The senior news editor is Sam Bonham. Programme Website
Key Points Windsor Advisory Group added 78,197 shares of Worthington Enterprises in the fourth quarter; the estimated transaction value was $4.32 million based on quarterly average prices. Meanwhile, the quarter-end position value rose by $2.88 million, reflecting both share additions and price movement. The position at quarter's end stood at 372,282 shares valued at $19.20 million. 10 stocks we l...
Key Points Windsor Advisory Group added 78,197 shares of Worthington Enterprises in the fourth quarter; the estimated transaction value was $4.32 million based on quarterly average prices. Meanwhile, the quarter-end position value rose by $2.88 million, reflecting both share additions and price movement. The position at quarter's end stood at 372,282 shares valued at $19.20 million. 10 stocks we like better than Worthington Enterprises › Windsor Advisory Group disclosed a buy of 78,197 shares of Worthington Enterprises (NYSE:WOR) in its February 17, 2026, SEC filing, with an estimated transaction value of $4.32 million based on quarterly average pricing. What happened According to a February 17, 2026, SEC filing, Windsor Advisory Group, LLC increased its holding in Worthington Enterprises by 78,197 shares during the fourth quarter. The estimated value of this share purchase is approximately $4.32 million, based on the mean unadjusted closing price for the period. The quarter-end value of the position rose by $2.88 million, reflecting both the increased share count and price appreciation. What else to know This was a buy; Worthington Enterprises represented 17.13% of Windsor Advisory Group's 13F reportable AUM after the trade. Top holdings after the filing: NASDAQ:PAYX: $23.76 million (21.2% of AUM) NYSE:WOR: $19.20 million (17.1% of AUM) NYSE:WS: $7.19 million (6.4% of AUM) NYSEMKT:IVV: $6.68 million (6.0% of AUM) NASDAQ:NVDA: $6.33 million (5.7% of AUM) As of Friday, shares of Worthington Enterprises were priced at $47.64, up 15% over the past year, which roughly matches the S&P 500’s gain in the same period. Company overview Metric Value Revenue (TTM) $1.25 billion Net Income (TTM) $106 million Dividend Yield 1.6% Price (as of Friday) $47.64 Company snapshot Worthington Enterprises offers value-added steel processing, manufactured consumer products, building products, and sustainable energy solutions, with key brands including Coleman, Bernzomatic, and Level5. The...
xtrekx/iStock via Getty Images A 20% decline in the S&P 500 is no longer a tail risk. It is becoming an increasingly likely outcome as oil, interest rates, and credit spreads reprice. It has been a rough few weeks for markets, and absent a sharp reversal in oil prices or a de-escalation in geopolitical risk, conditions are unlikely to improve. Multiple Compression Stock prices are driven by earnin...
xtrekx/iStock via Getty Images A 20% decline in the S&P 500 is no longer a tail risk. It is becoming an increasingly likely outcome as oil, interest rates, and credit spreads reprice. It has been a rough few weeks for markets, and absent a sharp reversal in oil prices or a de-escalation in geopolitical risk, conditions are unlikely to improve. Multiple Compression Stock prices are driven by earnings and the multiple investors are willing to pay. When growth is strong and risks are low, multiples expand. When risks rise, multiples contract. Today, rising oil prices are widening credit spreads, signaling higher risk and exerting downward pressure on valuations. As these risks rise and credit spreads widen, earnings yields increase, which is the inverse of the P/E ratio, meaning valuations fall. For years, credit spreads and S&P 500 earnings yields have moved closely together. LSEG In 2022, the last time an oil spike occurred, the CDX High Yield index rose to over 600, while the S&P 500 earnings yield reached 6.5%. Today, the CDX index is at 373, and the S&P 500's earnings yield is just 4.9%. That is the equivalent of the S&P 500's PE ratio falling from 20.4 on a forward-twelve-month basis to 15.3, a drop of about 25% from current levels. In its simplest form, it suggests there is likely to be much more downside if conditions are not resolved soon. LSEG Higher Rates Rising interest rates are another pressure point, and the S&P 500 isn't cheap when compared to rates either. The current earnings yield of the S&P 500 is about 60 basis points above the 10-year rate. Historically, over the past 15 years, the median spread between the two interest rates was closer to 3.5%. It implies that the S&P 500 earnings yield rises by 290 basis points from 4.9% to 7.8%, a yield that is even higher than where it stood in 2022, and that is, frankly, because interest rates today are much higher than they were in most of 2022. Even if the spread doesn't widen, a rising 10-year rate due to ...
Iran Threatens Region-Wide Infrastructure 'Obliteration' As Trump's 48-Hour Ultimatum Ticks Down, Mass Casualties In Southern Israel Summary Iran vows regional and US infrastructure will be "irreversibly destroyed" in response to Trump's 48-hour timeline to open Hormuz or else Iranian power plants will be obliterated. Iran announces imposition a $2 million transit fee on 'non-enemy' ships wishing ...
Iran Threatens Region-Wide Infrastructure 'Obliteration' As Trump's 48-Hour Ultimatum Ticks Down, Mass Casualties In Southern Israel Summary Iran vows regional and US infrastructure will be "irreversibly destroyed" in response to Trump's 48-hour timeline to open Hormuz or else Iranian power plants will be obliterated. Iran announces imposition a $2 million transit fee on 'non-enemy' ships wishing to transit strait. Unprecedented damage and many dozens of casualties in Israel's south after tit-for-tat strikes on areas with nuclear plants. Reports of US prepping diplomatic offramp plan but Iran says expanding war has effectively shut the door ; Bessent says "50 days" of higher prices for 50 years of no Iran nukes , and "escalate to de-escalate." * * * Bessent on Meet the Press: 'Escalate to De-Escalate' Scott Bessent said US-Israeli strikes are focused on weakening Iran's fortified positions along the Strait of Hormuz as Donald Trump presses a deadline for Tehran to "fully open, without threat" the critical global shipping waterway. He stated the US will "take whatever steps it takes" to eliminate Iran's military capabilities, including its ability to project power abroad; however, it remains to be seen just how degraded Iran's missile program is. "There has been a campaign… to soften up the Iranian fortifications … that's going to continue until they are completely demolished… Sometimes you have to escalate to de-escalate ," he asserted. As the conflict enters its fourth week, and amid rising oil and gasoline prices which have intensified economic pressure at home, Bessent framed the surge as a temporary cost tied to a longer-term greater objective, stating: "Let’s just pick 50 days of temporary elevated prices… Prices will come off on the other side for 50 years of not having an Iranian regime with a nuclear weapon." But then the usual more open-ended caveats: " I don’t know whether it’s going to be 50 days. I don’t know whether it’s going to be a hundred days . " A...
David Gyung/iStock via Getty Images Citi has updated its return-on-equity trend baskets. "We created the ROE Trend Baskets which focus on forward ROE improvement driven by improving margins and higher total asset turnover, not financial engineering," the equity strategy team said. "Essentially, the second derivative of Quality, not the factor itself, creates a more differentiated exposure that has...
David Gyung/iStock via Getty Images Citi has updated its return-on-equity trend baskets. "We created the ROE Trend Baskets which focus on forward ROE improvement driven by improving margins and higher total asset turnover, not financial engineering," the equity strategy team said. "Essentially, the second derivative of Quality, not the factor itself, creates a more differentiated exposure that has become our flagship thematic." The large-cap stocks with positive ROE trend are: Company (Ticker) 2027E ROE Vistra Corp. ( VST ) 47.0% Boeing Company ( BA ) 55.7% Southwest Airlines Co. ( LUV ) 25.4% Omnicom Group Inc ( OMC ) 26.8% Take-Two Interactive Software, Inc. ( TTWO ) 34.6% Teradyne, Inc. ( TER ) 34.4% Albemarle Corporation ( ALB ) 10.2% Estee Lauder Companies Inc. Class A ( EL ) 28.2% Jabil Inc. ( JBL ) 87.1% C.H. Robinson Worldwide, Inc. ( CHRW ) 42.7% Ciena Corporation ( CIEN ) 29.5% Hershey Company ( HSY ) 37.3% Generac Holdings Inc. ( GNRC ) 15.1% TKO Group Holdings, Inc. Class A ( TKO ) 12.0% Micron Technology, Inc. ( MU ) 40.6% CVS Health Corporation ( CVS ) 10.5% GE Aerospace ( GE ) 44.0% Freeport-McMoRan, Inc. ( FCX ) 19.4% ON Semiconductor Corporation ( ON ) 20.4% Rockwell Automation, Inc. ( ROK ) 34.8% Blackstone Inc. ( BX ) 33.8% Broadcom Inc. ( AVGO ) 51.0% Equifax Inc. ( EFX ) 21.4% Phillips 66 ( PSX ) 15.9% Analog Devices, Inc. ( ADI ) 18.6% Steel Dynamics, Inc. ( STLD ) 19.1% Caterpillar Inc. ( CAT ) 50.3% Waste Management, Inc. ( WM ) 35.1% NXP Semiconductors NV ( NXPI ) 33.9% Diamondback Energy, Inc. ( FANG ) 8.7% Corning Inc ( GLW ) 22.7% Nucor Corporation ( NUE ) 12.7% DoorDash, Inc. Class A ( DASH ) 13.6% BlackRock, Inc. ( BLK ) 22.1% PACCAR Inc ( PCAR ) 16.7% Westinghouse Air Brake Technologies Corporation ( WAB ) 17.7% Block, Inc. Class A ( XYZ ) 10.3% Amcor PLC ( AMCR ) 16.6% Johnson Controls International plc ( JCI ) 22.8% Cummins Inc. ( CMI ) 26.3% Bunge Global SA ( BG ) 10.4% EQT Corporation ( EQT ) 10.7% Newmont Corporation ( NEM ) 23.8%...
Michael M. Santiago/Getty Images News GameStop ( GME ) is due to release its fourth-quarter earnings report on March 24. There are not enough analysts covering the stock to provide consensus estimates. In FQ3, the company saw a 4.5% decline in revenue but swung to an operating income profit. The holiday quarter update will have extra significance after CEO Ryan Cohen telegraphed ambitions to use t...
Michael M. Santiago/Getty Images News GameStop ( GME ) is due to release its fourth-quarter earnings report on March 24. There are not enough analysts covering the stock to provide consensus estimates. In FQ3, the company saw a 4.5% decline in revenue but swung to an operating income profit. The holiday quarter update will have extra significance after CEO Ryan Cohen telegraphed ambitions to use the retailer as a Berkshire ( BRK.A ) ( BRK.B )‑style platform and was interested in pursuing a “very, very, very big” acquisition of a larger public consumer company. In recent interviews, Cohen described plans to buy a publicly traded consumer company that is not only “significantly larger” than GameStop but also undervalued, high quality, and run by a sleepy management team. Presumably, Cohen would then run his efficiency playbook he used at Chewy ( CHWY ) and GameStop ( GME ) to unlock earnings and cash flow. Of course, any color on deal size, timing, financing mix, and potential targets would be a key swing factor for sentiment. However, GameStop ( GME ) has not held an earnings conference call in over two years. GameStop's ( GME ) balance sheet cash position and Bitcoin ( BTC-USD ) holdings position are also of high interest after Cohen signaled that capital allocation will tilt decisively toward an M&A strategy. Notably, Cohen has an incentive package that reinforces the bet-the-company nature of the acquisition strategy, paying out only if GameStop ( GME ) reaches at least $20B in market cap and $2B in cumulative EBITDA, with full vesting tied to a $100B market cap and $10B in cumulative EBITDA. Shares of GameStop ( GME ) are up 12.4% on a year-to-date basis. The market cap at the close on Friday was $10.1B. Short interest stands on GME at 14.7% of the total float. Options trading implies an 8% share price swing after the earnings report is released on Tuesday. More on GameStop GameStop Holiday Quarter Earnings Preview Signals Muted Numbers GameStop Is Still In Limbo...
As the war in Iran drags into its third week, Rep. Greg Steub joins David Gura and Christina Ruffini on Bloomberg This Weekend to discuss the potential of an American ground invasion in Iran, whether Congress is considering the Pentagon's request $200 billion in additional funding for the war and more. Watch the show LIVE every Saturday and Sunday morning. (Source: Bloomberg)
As the war in Iran drags into its third week, Rep. Greg Steub joins David Gura and Christina Ruffini on Bloomberg This Weekend to discuss the potential of an American ground invasion in Iran, whether Congress is considering the Pentagon's request $200 billion in additional funding for the war and more. Watch the show LIVE every Saturday and Sunday morning. (Source: Bloomberg)
Jenni Murray, who has died aged 75, was the longest-serving presenter of Woman’s Hour, bringing calm authority to the BBC Radio 4 weekday show for 33 years. The programme that was launched in 1946 with cooking, cleaning tips and romantic serials had, by the time of Murray’s tenure (1987-2020), become a platform for subjects such as the menopause, domestic violence, genital mutilation and sexual po...
Jenni Murray, who has died aged 75, was the longest-serving presenter of Woman’s Hour, bringing calm authority to the BBC Radio 4 weekday show for 33 years. The programme that was launched in 1946 with cooking, cleaning tips and romantic serials had, by the time of Murray’s tenure (1987-2020), become a platform for subjects such as the menopause, domestic violence, genital mutilation and sexual politics. After a decade of Murray in the presenter’s chair, the programme was described by the Sunday Times in 1996 as “Radio 4’s sisterhood of the airwaves”. Murray was fearless and thoughtful in her intelligent questioning of guests, who ranged from politicians, film stars, authors and poets to chefs, gardeners, lawyers and anxious parents. In 1990, in Margaret Thatcher’s final broadcast interview as prime minister, Woman’s Hour exposed the ideological differences between the feminist approach advanced by Murray, who advocated government ensuring accessible, affordable childcare to hasten gender equality, and the Conservative leader’s view that the issue was one for individuals, not the state. Pointing out that the group from which Thatcher was losing most support was women, Murray asked if this could be down to a lack of understanding of their difficulties. The presenter later said: “It was the first time in her entire political career I ever heard her say: ‘I don’t know.’ She was not expecting this and she floundered.” View image in fullscreen Murray, right, with Margaret Thatcher in 1990. Photograph: BBC Radio 4 Later, following the former Conservative MP Edwina Currie’s revelation in the first volume of her diaries in 2002 that she had had a four-year affair with her colleague, John Major, later prime minister, Murray began her interview with: “Edwina Currie has been called a cheat, a grade-A trollop, a total cow and the cheapest kiss-and-tell hawker.” She then probed Currie on the ethics of the relationship, considering both of them were married, and the hurt caused t...
A private prayer and a shouting contest: photos of the weekend The Guardian’s picture editors select photographs from around the world A veiled Iranian worshipper prays as she sits at a holy shrine on the day of Eid al-Fitr in Tehran, Iran. Photograph: Morteza Nikoubazl/NurPhoto/Shutterstock
A private prayer and a shouting contest: photos of the weekend The Guardian’s picture editors select photographs from around the world A veiled Iranian worshipper prays as she sits at a holy shrine on the day of Eid al-Fitr in Tehran, Iran. Photograph: Morteza Nikoubazl/NurPhoto/Shutterstock
Hong Kong’s West Kowloon arts hub has signed agreements with 12 international institutions from Australia, the UK, Saudi Arabia and elsewhere, paving the way for future collaborations as the city seeks to strengthen its role as an East-meets-West cultural hub. The memorandums of understanding (MOUs) signed on Sunday by the West Kowloon Cultural District Authority will help bring more international...
Hong Kong’s West Kowloon arts hub has signed agreements with 12 international institutions from Australia, the UK, Saudi Arabia and elsewhere, paving the way for future collaborations as the city seeks to strengthen its role as an East-meets-West cultural hub. The memorandums of understanding (MOUs) signed on Sunday by the West Kowloon Cultural District Authority will help bring more international performances to the city, showcase Hong Kong productions to global audiences, support the exchange of talent and more. “These collaborations translate shared vision into action by supporting high quality programmes, talent exchange and professional development,” said Bernard Charnwut Chan, chairman of the authority, during the signing ceremony at the two-day International Cultural Summit. Advertisement Key partnerships include five strategic alliances “to strengthen programme development, talent exchange and professional training”, in preparation for the opening of the WestK Performing Arts Centre next year. The authority will also work with the China Association of Auctioneers to strengthen talent development art market exchanges between Hong Kong and the mainland, plus museum collaborations. Advertisement New agreements have also been signed with overseas cultural organisations and universities to support the launch of professional training courses and a pilot artist-in-residence programme.
Russia launched an uncrewed cargo spacecraft toward the International Space Station on Sunday after recent repairs to the Baikonur Cosmodrome launch site, NASA said. The Progress MS-33 transport ship separated successfully from the third stage of its Soyuz-2.1a launch vehicle after blasting off from Baikonur in Kazakhstan, Russia’s Roscosmos Space Agency said on Telegram. The spacecraft, with over...
Russia launched an uncrewed cargo spacecraft toward the International Space Station on Sunday after recent repairs to the Baikonur Cosmodrome launch site, NASA said. The Progress MS-33 transport ship separated successfully from the third stage of its Soyuz-2.1a launch vehicle after blasting off from Baikonur in Kazakhstan, Russia’s Roscosmos Space Agency said on Telegram. The spacecraft, with over 2.5 tons of cargo, is scheduled to dock with the Poisk module on the Russian segment of the ISS on March 24. NASA said on X that one of the vessel’s antennas used for automatic docking failed to deploy after liftoff. Other systems were operating as designed, and troubleshooting on the antenna issue was continuing, the US agency said. If the antenna cannot be deployed, Russian cosmonaut Sergey Kud-Sverchkov would remotely pilot the craft using a backup system for rendezvous and docking. The Baikonur cosmodrome, which Russia leases from Kazakhstan, remains central to Moscow’s space program, including missions to the ISS. The launch site was damaged in late November in an unspecified mishap during a previous mission, Roscosmos said at the time. Read more: Russia Brings Crewed-Rocket Launch Pad Back Online at Baikonur
Many investors believe robotaxis could eventually replace Uber Technologies (UBER 1.95%). If autonomous vehicles (AVs) eliminate the need for human drivers, companies that own robotaxi fleets could bypass ride-hailing platforms altogether. But Uber sees the future differently. Instead of choosing between human drivers and autonomous vehicles, the company believes the winning model may combine both...
Many investors believe robotaxis could eventually replace Uber Technologies (UBER 1.95%). If autonomous vehicles (AVs) eliminate the need for human drivers, companies that own robotaxi fleets could bypass ride-hailing platforms altogether. But Uber sees the future differently. Instead of choosing between human drivers and autonomous vehicles, the company believes the winning model may combine both. In fact, Uber argues that a hybrid network of robotaxis and human drivers could work better than fleets made up entirely of AVs. That idea may sound counterintuitive at first. But once you look at how ride-hailing demand actually behaves, Uber's reasoning starts to make a lot of sense. Ride-hailing demand is highly unpredictable The biggest challenge in ride-hailing isn't simply putting vehicles on the road. It's matching supply to demand, which fluctuates dramatically depending on the time of day, the day of the week, weather conditions, or events happening in a city. Uber's own data illustrates just how uneven demand can be. In Austin, for example, demand on a typical Monday reaches only about 45% of the level seen on Saturday, while daily troughs can fall to just 5% of peak demand. These swings create a major challenge for robotaxi-only fleets. To reliably handle peak demand periods, a robotaxi operator would need to deploy a large number of vehicles. But during slower hours, many of those vehicles could sit idle. In other words, robotaxi-only networks risk becoming either inefficient during off-peak periods or unreliable when demand surges. That's where Uber believes its marketplace structure offers a key advantage. Expand NYSE : UBER Uber Technologies Today's Change ( -1.95 %) $ -1.47 Current Price $ 73.88 Key Data Points Market Cap $152B Day's Range $ 73.04 - $ 75.35 52wk Range $ 60.63 - $ 101.99 Volume 525K Avg Vol 20M Gross Margin 32.89 % Hybrid networks provide flexibility Uber's solution is straightforward: Let autonomous vehicles handle baseline demand while hu...
Key Points Ride-hailing demand is highly volatile. Uber's hybrid model could improve efficiency. Its marketplace may remain key in an autonomous future. 10 stocks we like better than Uber Technologies › Many investors believe robotaxis could eventually replace Uber Technologies (NYSE: UBER). If autonomous vehicles (AVs) eliminate the need for human drivers, companies that own robotaxi fleets could...
Key Points Ride-hailing demand is highly volatile. Uber's hybrid model could improve efficiency. Its marketplace may remain key in an autonomous future. 10 stocks we like better than Uber Technologies › Many investors believe robotaxis could eventually replace Uber Technologies (NYSE: UBER). If autonomous vehicles (AVs) eliminate the need for human drivers, companies that own robotaxi fleets could bypass ride-hailing platforms altogether. But Uber sees the future differently. Instead of choosing between human drivers and autonomous vehicles, the company believes the winning model may combine both. In fact, Uber argues that a hybrid network of robotaxis and human drivers could work better than fleets made up entirely of AVs. 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 » That idea may sound counterintuitive at first. But once you look at how ride-hailing demand actually behaves, Uber's reasoning starts to make a lot of sense. Ride-hailing demand is highly unpredictable The biggest challenge in ride-hailing isn't simply putting vehicles on the road. It's matching supply to demand, which fluctuates dramatically depending on the time of day, the day of the week, weather conditions, or events happening in a city. Uber's own data illustrates just how uneven demand can be. In Austin, for example, demand on a typical Monday reaches only about 45% of the level seen on Saturday, while daily troughs can fall to just 5% of peak demand. These swings create a major challenge for robotaxi-only fleets. To reliably handle peak demand periods, a robotaxi operator would need to deploy a large number of vehicles. But during slower hours, many of those vehicles could sit idle. In other words, robotaxi-only networks risk becoming either inefficient during off-peak periods or unreliable when demand surges. That's where...
We know the Ryzen 9 9950X3D2 exists, but is this a real sample? Ryzen 9950X3D2 should bring much higher L3 cache, but the CPU-Z's listing appears to be incorrect. AMD Dual-Cache Ryzen 9 9950X3D2 Appears on CPU-Z, Featuring a 96 + 32 MB L3 Cache Instead of Expected 96 + 96 MB Recently, ASRock accidentally confirmed AMD's first-ever dual cache Ryzen 9000X3D chip, which AMD hasn't officially unveiled...
We know the Ryzen 9 9950X3D2 exists, but is this a real sample? Ryzen 9950X3D2 should bring much higher L3 cache, but the CPU-Z's listing appears to be incorrect. AMD Dual-Cache Ryzen 9 9950X3D2 Appears on CPU-Z, Featuring a 96 + 32 MB L3 Cache Instead of Expected 96 + 96 MB Recently, ASRock accidentally confirmed AMD's first-ever dual cache Ryzen 9000X3D chip, which AMD hasn't officially unveiled. ASRock quickly took down the page, but it strongly indicated the existence of the Ryzen 9 9950X3D2. Now, another leak has surfaced online, revealing the "unofficial" specifications of the new X3D chip. Image Credit: @momomo_us As spotted by @momomo_us, someone validated his Ryzen 9 9950X3D2 sample in CPU-Z. CPU-Z is a popular hardware utility, and according to the validity result page, the sample explicitly mentions the CPU model name as "AMD Ryzen 9 9950X3D2" under the Processor (CPU) section. However, in the actual CPU-Z screenshot, both Ryzen 9 9950X3D and Ryzen 9 9950X3D2 are mentioned in different sections. This entry may belong to the existing 9950X3D, but the TDP section reveals a higher power rating. Unlike Ryzen 9 9950X3D, the 9950X3D2 is expected to carry a max TDP rating of 200W. On the other hand, the Ryzen 9950X3D is rated at 170W, which could mean that the CPU-Z entry belongs to the newer CPU. However, the discrepancy in the cache specification points to the Ryzen 9950X3D chip, as Ryzen 9 9950X3D2 won't carry "96 + 32 MB" (128 MB) L3 cache, as both of its CCDs will have L3 cache chiplets. These will carry an additional 64 MB of L3 cache on top of the 32 MB L3 cache available in the CCDs, which means a total L3 cache of 192 MB. So, the entry could be fake, or it's also possible that CPU-Z cannot read the new processor correctly, given it hasn't received the latest update to support Ryzen 9 9950X3D2. Nonetheless, we are positive that AMD will launch the new processor very soon, as we already have plenty of hints for believing the same. AMD Ryzen 9000 "Granite ...
One of the world's most sought-after private companies is rumored to be making its public markets debut this calendar year. After remaining private for over two decades, Elon Musk's SpaceX is expected to go public at a market valuation of $1.5 trillion or higher. This would make it one of the 10 most valuable companies in the world by market cap . The company dominates the spaceflight market and r...
One of the world's most sought-after private companies is rumored to be making its public markets debut this calendar year. After remaining private for over two decades, Elon Musk's SpaceX is expected to go public at a market valuation of $1.5 trillion or higher. This would make it one of the 10 most valuable companies in the world by market cap . The company dominates the spaceflight market and recently merged with xAI, an artificial intelligence ( AI ) start-up that also owns the company formerly known as Twitter. Unless we enter a major bear market, there will likely be strong demand for SpaceX when it goes public later this year through an initial public offering ( IPO ). Did you know you can get exposure to SpaceX stock as an individual investor today? That's right, there are three ways investors can get an indirect piece of the SpaceX pie. Here are the three methods, the one with the most direct exposure, and whether indirectly investing in SpaceX before the IPO is a smart move for your portfolio. Continue reading
is editor-at-large and Vergecast co-host with over a decade of experience covering consumer tech. Previously, at Protocol, The Wall Street Journal, and Wired. Posts from this author will be added to your daily email digest and your homepage feed. The vocoder was never supposed to be a revolution in music. It wasn’t supposed to be anything in music, really. Its development began a century ago, when...
is editor-at-large and Vergecast co-host with over a decade of experience covering consumer tech. Previously, at Protocol, The Wall Street Journal, and Wired. Posts from this author will be added to your daily email digest and your homepage feed. The vocoder was never supposed to be a revolution in music. It wasn’t supposed to be anything in music, really. Its development began a century ago, when an engineer at Bell Labs was looking for a simpler way to send phone calls across copper telephone lines. The engineer, Homer Dudley, built some pretty neat technology that could both capture and synthesize the human voice. As so much great tech does, the vocoder immediately took on a life of its own. It played a key role in World War II, enabling secret communications across the ocean. And then, only a few years later, it started to become a musical phenomenon. At first a few artists were intrigued by the ability to play their voice like an instrument. Then everybody was. And we never looked back. On this episode of Version History, we tell the many stories of the vocoder. David Pierce is joined by Switched on Pop co-host and music journalist Charlie Harding, along with Dave 1 and P-Thugg, who perform as legendary electro-funk duo Chromeo. Together, the group explores how the vocoder became so popular, and why musicians gravitate to it — and to similar tech like Auto-Tune and the Talkbox. Dave and Pee also brought a vocoder and a talkbox to the studio with them, and have some serious demonstrating to do. This is the third episode of the third season of Version History. Here’s how to get every episode, and all our other fun stuff, as soon as it drops: If you’re a Verge subscriber, you can also get access to Version History (and all our other podcasts) with no ads. All you have to do is visit your account settings. If you want to hear some of Charlie’s and Chromeo’s favorite vocoder tracks, you’re going to want to check out this playlist: And if you want to know more about ...
It's getting difficult to sort through all of the artificial intelligence (AI) noise out there. Some people are warning of a looming AI bubble popping, while others are sounding the alarm about software companies being disrupted. And some are still saying AI's long-term impact is overstated. As with many things in life, there may be a shred of truth to all of them. The AI market is still taking sh...
It's getting difficult to sort through all of the artificial intelligence (AI) noise out there. Some people are warning of a looming AI bubble popping, while others are sounding the alarm about software companies being disrupted. And some are still saying AI's long-term impact is overstated. As with many things in life, there may be a shred of truth to all of them. The AI market is still taking shape, making it difficult to predict where it's headed. But that doesn't mean there aren't some clear winners. Here's why semiconductor company Broadcom (AVGO 2.99%) is in a unique position to benefit and why buying some of its shares could be a smart move. Booming AI infrastructure spending is accelerating Broadcom's business Broadcom designs application-specific integrated circuits (ASICs) used extensively in artificial intelligence data centers, and the surge in spending on AI compute power has accelerated Broadcom's sales and earnings. The company's AI revenue more than doubled in the first quarter (which ended Feb. 1) to $8.4 billion, and Broadcom's non-GAAP (generally accepted accounting principles) earnings per share jumped 28% to $2.05. Management believes AI revenue will continue to grow, reaching an estimated $10.7 billion in the second quarter and at least $100 billion in chip revenue in 2027. And research from Morningstar says Broadcom's estimate of AI sales doubling in 2027 could be "conservative." Broadcom is in a unique position to continue benefiting from the AI boom because the company holds a dominant position in AI ASIC processors, with a growing market share expected to reach 60% by next year, according to CounterPoint Research. That lead will help Broadcom capture much of the AI spending surge that's currently underway. Meta Platforms, Microsoft, Amazon, and Alphabet have all announced capital expenditures, mostly for AI, that collectively amount to $650 billion in spending this year. As these companies battle it out for AI dominance, Broadcom can sell t...