baileystock Britain's energy regulator Ofgem is said to have approved an electricity supply licence for Tesla Energy Ventures Limited, a subsidiary of Tesla ( TSLA ), allowing the company to provide power to households and businesses across Britain. The authorisation took effect on Wednesday after a months-long assessment process, according to reports. Ofgem said the licence covers elect...
baileystock Britain's energy regulator Ofgem is said to have approved an electricity supply licence for Tesla Energy Ventures Limited, a subsidiary of Tesla ( TSLA ), allowing the company to provide power to households and businesses across Britain. The authorisation took effect on Wednesday after a months-long assessment process, according to reports. Ofgem said the licence covers electricity supply activities only and is separate from an existing generation licence held by Tesla Motors Limited. More on Tesla Tesla: Finally Some Good News Tesla: 2026-2028 Window Should Determine Its Fate (Downgrade) My Playbook On Trading Tesla As The Market Stops Rewarding Story Stocks (Rating Downgrade) Musk says xAI's Macrohard remains in development as joint project with Tesla: update SA analyst upgrades/downgrades: TSLA, APP, SNOW, GTBIF
baileystock Britain's energy regulator Ofgem has approved an electricity supply licence for Tesla Energy Ventures Limited, a subsidiary of Tesla ( TSLA ), which allows the company to provide power to households and businesses across Britain. The authorisation took effect on Wednesday after a months-long assessment process. "Protecting consumers and maintaining a secure, fair energy market...
baileystock Britain's energy regulator Ofgem has approved an electricity supply licence for Tesla Energy Ventures Limited, a subsidiary of Tesla ( TSLA ), which allows the company to provide power to households and businesses across Britain. The authorisation took effect on Wednesday after a months-long assessment process. "Protecting consumers and maintaining a secure, fair energy market underpins every licensing decision we make. Following a detailed assessment, Ofgem has concluded that Tesla Energy Ventures Limited meets all statutory requirements and will be subject to the same obligations, monitoring and enforcement as all other suppliers from day one," a spokesperson for Ofgem told Seeking Alpha. Ofgem will monitor compliance and may use its enforcement powers under the Electricity Act 1989 and the Standard Licence Conditions, including issuing directions, imposing financial penalties or modifying licence conditions where necessary. Tesla Motors Limited, a separate company incorporated in England and Wales, was granted an electricity generation licence in June 2020. This licence was not relevant to Tesla Energy Ventures Limited’s application or Ofgem’s assessment or approval. More on Tesla Tesla: Finally Some Good News Tesla: 2026-2028 Window Should Determine Its Fate (Downgrade) My Playbook On Trading Tesla As The Market Stops Rewarding Story Stocks (Rating Downgrade) Musk says xAI's Macrohard remains in development as joint project with Tesla: update SA analyst upgrades/downgrades: TSLA, APP, SNOW, GTBIF
Anton Litvintsev/iStock via Getty Images By Meg O'Connor and Travis Flint, CFA Energy markets have become the front line of the Iran conflict’s market impact. Geopolitical risk was widely anticipated, and crude prices had already moved higher in the weeks ahead of the attacks. However, the abrupt slowdown in physical flows through the Strait of Hormuz has introduced a new and more acute supply ris...
Anton Litvintsev/iStock via Getty Images By Meg O'Connor and Travis Flint, CFA Energy markets have become the front line of the Iran conflict’s market impact. Geopolitical risk was widely anticipated, and crude prices had already moved higher in the weeks ahead of the attacks. However, the abrupt slowdown in physical flows through the Strait of Hormuz has introduced a new and more acute supply risk. Iran produces 3–3.5 million barrels per day (MMbbl/d) of oil, exporting largely to China at discounted prices. With limited remaining OPEC+ spare capacity, any prolonged disruption would be difficult to offset. OPEC’s latest production increase is marginal relative to the scale of potential disruption. If barrels cannot transit the Strait, headline supply hikes offer little real relief. The key question for markets is no longer whether oil reacts — but how long physical disruptions persist. The Strait of Hormuz: A bottleneck under pressure Shipping through the Strait of Hormuz is effectively at a standstill as of early March. Aside from Iranian vessels, there have been very few confirmed tanker crossings, as shipowners cancel transits and insurers withdraw coverage following attacks on multiple vessels. This dynamic alone is sufficient to embed a significant geopolitical risk premium into oil prices. The White House has said it will backstop insurance and potentially provide U.S. naval escorts. As U.S. naval assets in the region are likely stretched by ongoing operations, it’s unclear how quickly naval escorts can be implemented, and timing matters. If shipping disruptions persist, regional storage constraints become binding, forcing producers to shut in supply regardless of demand. Shut‑ins are no longer theoretical The consequences of constrained transit are already visible: Iraq has cut production by roughly 1.5 million barrels per day (MMbbl/d) of oil as of March 3. Kuwait and the UAE are reducing production to manage storage requirements. If the strait remains effec...
cagkansayin/iStock via Getty Images Market Review High yield corporate bonds delivered strong results in 2025, supported by steady economic growth, accommodative Federal Reserve (Fed) policy, solid corporate fundamentals, and constructive technicals. After early year volatility driven by geopolitical tensions and tariff announcements, markets stabilized as policy direction became clearer. Fourth q...
cagkansayin/iStock via Getty Images Market Review High yield corporate bonds delivered strong results in 2025, supported by steady economic growth, accommodative Federal Reserve (Fed) policy, solid corporate fundamentals, and constructive technicals. After early year volatility driven by geopolitical tensions and tariff announcements, markets stabilized as policy direction became clearer. Fourth quarter performance benefited from improving growth and healthy balance sheets across the high yield universe. The ICE BofA U.S. High Yield Index (H0A0) returned 8.5% for the year, marking the third consecutive year of strong performance. Returns were supported by elevated yields, resilient earnings, robust demand for credit, and the decline in short term Treasury rates resulting from Fed easing. Primary issuance rose 12% year-over-year amid tightening spreads and low default rates. BBs, supported by stronger fundamentals, led the market with an 8.9% return. Single Bs rose 8.4%, in line with the broader market, while CCCs returned 6.5%, lagging meaningfully due to credit deterioration in lower-quality issuers. CCC underperformance stands in stark contrast to the meaningful outperformance of the previous two years. High yield option-adjusted spreads (OAS) began the year at 292 basis points (bps), widened sharply to 461 bps following the “Liberation Day” tariff announcement in April, and finished at 281 bps. Performance The Seix High Yield Bond SMA that we manage increased by 1.53% (gross) in 4Q25 (0.89% net). This was 17 bps better than the benchmark, the ICE BofA U.S. High Yield Cash Pay Index (J0A0), which increased by 1.36%. The top contributing sectors to relative performance included technology, paper & packaging, and chemicals. The bottom contributing sectors to relative performance included financials, gaming & leisure, and media non-cable. The portfolio increased by 7.55% (gross) for the 2025 period (4.90% net). This was 100 bps less than the benchmark, ICE BofA U.S. ...
Solidrun has introduced its latest Edge AI systems equipped with AMD's Ryzen AI Embedded P100 chips & LPCAMM2 memory. LPCAMM2 Memory & AMD Ryzen AI Embedded P100 SoCs Power Edge AI Systems From Solidrun Press Release: SolidRun , a leading developer and manufacturer of high-performance system-on-module (SOM) solutions, single-board computers (SBC), and network edge solutions, announced its new P100...
Solidrun has introduced its latest Edge AI systems equipped with AMD's Ryzen AI Embedded P100 chips & LPCAMM2 memory. LPCAMM2 Memory & AMD Ryzen AI Embedded P100 SoCs Power Edge AI Systems From Solidrun Press Release: SolidRun , a leading developer and manufacturer of high-performance system-on-module (SOM) solutions, single-board computers (SBC), and network edge solutions, announced its new P100 COM Express Type 6 module family, powered by AMD Ryzen AI Embedded P100 processors. Designed for real-world edge deployments where systems don’t sit still, the P100 COMx6 series targets mobile platforms as well as harsh, mission-critical environments across industrial automation, transportation, medical systems, and robotics. Rugged, Serviceable Memory That’s Built for Motion A key innovation of the P100 COMx6 series is SolidRun’s LP-CAMM2 memory integration in an industrial COM Express Type 6 module, delivering the best of all worlds: the serviceability of modular memory with the mechanical robustness typically associated with soldered memory and the low power consumption of LPDDR5. In plain terms, this platform is designed so engineers and OEMs can repair, swap, or service memory more easily, while also improving resistance to the real-world failure modes that show up in moving systems. What makes LP-CAMM2 significant to the P100 COMx6: Field serviceability and upgradeability, like traditional modular memory Improved vibration tolerance through more robust mechanical retention; screw-lock retention to help reduce connector movement over time in mobile platforms High-bandwidth LPDDR5X-class performance (up to 8533-9600 MT/s) for fast AI and sensor data processing These benefits make the platform ideal for rail systems, mobile robotics, automated machinery, heavy vehicles, aerospace and defense, marine platforms, and mobile medical devices. AI Performance for Real-Time Vision, Robotics, and Control at the Edge Powered by AMD’s latest CPU, GPU, and NPU architectures, the P1...
Italy Challenges EU Carbon Market: Hidden Tax Driving Industry Abroad Submitted by Thomas Kolbe Italian weeks in Brussels: Just days after Prime Minister Giorgia Meloni announced a hardline migration policy, openly defying Brussels’ globalist open-border agenda, she delivered a second shock. At the start of the week, Italy’s Industry Minister Adolfo Urso called for the suspension of EU-wide CO₂ tr...
Italy Challenges EU Carbon Market: Hidden Tax Driving Industry Abroad Submitted by Thomas Kolbe Italian weeks in Brussels: Just days after Prime Minister Giorgia Meloni announced a hardline migration policy, openly defying Brussels’ globalist open-border agenda, she delivered a second shock. At the start of the week, Italy’s Industry Minister Adolfo Urso called for the suspension of EU-wide CO₂ trading —or at least a profound reform . Rome calls it a hidden tax and laments the growing displacement of Italian industrial companies to non-European locations. A conclusion that will sound all too familiar in Germany. EU climate policy is artificially driving costs ever higher across the board. Companies able to operate flexibly are losing patience with this fanatical clientelist politics. Investments are redirected elsewhere, jobs relocated—while the taxes politicians desire are collected abroad. Yet even this argument seems to fall on deaf ears in European politics, as the European taxpayer remains a convenient source of revenue. Unlike mobile capital, citizens can’t easily move their wealth and property out of reach. It is high time European leaders confront the European Commission and its grotesque degrowth fantasies. The so-called green transformation is under evident legitimacy pressure, now that it is clear that the “green Hesperia”—a realm where economic rules and logic are suspended—will never exist. Brussels’ attempt to build a power base with its own “green” industrial sector as an economic foundation increasingly looks like a project of power-obsessed dreamers, hung around the private sector’s neck like a millstone. While Italy is drawing a clear line and trying to distance itself from Brussels’ industrial pillage, few in German politics seem seriously concerned that the CO₂ credit system channels real capital from productive sectors into an unproductive green patronage economy, while feeding the moral self-assurance of climate-policy snake-oil merchants. What...
JessRodriguez/iStock via Getty Images Micron’s ( MU ) outlook is still solid as AI memory demand drives continued supply constraints across DRAM, HBM, and now NAND memory markets. The current memory cycle looks like it is more structurally sound than previous cycles, as the mix of products is shifting towards more valuable data center and HBM products. Although this current level of 11 times forwa...
JessRodriguez/iStock via Getty Images Micron’s ( MU ) outlook is still solid as AI memory demand drives continued supply constraints across DRAM, HBM, and now NAND memory markets. The current memory cycle looks like it is more structurally sound than previous cycles, as the mix of products is shifting towards more valuable data center and HBM products. Although this current level of 11 times forward earnings may seem relatively low compared to the median in the semiconductor space, it is not necessarily low for a memory company that has historically had a very cyclical earnings profile. So, it is a matter of cycle length, and it is a matter of whether or not this cycle is a higher sustaining cycle compared to a normal memory cycle. Micron Q2 Preview: Momentum Matches Expectations Micron’s fiscal first quarter results were outstanding in supporting the thesis that this memory cycle is different from previous memory cycles. The revenue for the quarter came in at $13.6 billion , non-GAAP gross margins came in at 56.8%, and non-GAAP earnings came in at $4.78 per share. The company’s free cash flow came in at a record $3.9 billion for the quarter. The company guided Q2 revenue of $18.7 billion, a 68% gross margin, and $8.42 EPS, a significant step up even for Micron’s standards. As Micron is about to announce its Q2 results on March 18, investors are probably less concerned about beating estimates and more focused on whether there are further supply headwinds in the second half of fiscal 2026. FQ1 2026 Micron is signing multi-year supply contracts more committed than they have been in the past and has already locked in price and volume for all of its 2026 HBM production. Still, the memory industry is far from meeting the demand. The company’s management expects supply and demand for both DRAM and NAND products in 2026 to be supply-constrained. These are not words that are commonly used by memory industry updates, and they suggest that Micron is not just a commodity compa...
JessRodriguez/iStock via Getty Images Micron’s ( MU ) outlook is still solid as AI memory demand drives continued supply constraints across DRAM, HBM, and now NAND memory markets. The current memory cycle looks like it is more structurally sound than previous cycles, as the mix of products is shifting towards more valuable data center and HBM products. Although this current level of 11 times forwa...
JessRodriguez/iStock via Getty Images Micron’s ( MU ) outlook is still solid as AI memory demand drives continued supply constraints across DRAM, HBM, and now NAND memory markets. The current memory cycle looks like it is more structurally sound than previous cycles, as the mix of products is shifting towards more valuable data center and HBM products. Although this current level of 11 times forward earnings may seem relatively low compared to the median in the semiconductor space, it is not necessarily low for a memory company that has historically had a very cyclical earnings profile. So, it is a matter of cycle length, and it is a matter of whether or not this cycle is a higher sustaining cycle compared to a normal memory cycle. Micron Q2 Preview: Momentum Matches Expectations Micron’s fiscal first quarter results were outstanding in supporting the thesis that this memory cycle is different from previous memory cycles. The revenue for the quarter came in at $13.6 billion , non-GAAP gross margins came in at 56.8%, and non-GAAP earnings came in at $4.78 per share. The company’s free cash flow came in at a record $3.9 billion for the quarter. The company guided Q2 revenue of $18.7 billion, a 68% gross margin, and $8.42 EPS, a significant step up even for Micron’s standards. As Micron is about to announce its Q2 results on March 18, investors are probably less concerned about beating estimates and more focused on whether there are further supply headwinds in the second half of fiscal 2026. FQ1 2026 Micron is signing multi-year supply contracts more committed than they have been in the past and has already locked in price and volume for all of its 2026 HBM production. Still, the memory industry is far from meeting the demand. The company’s management expects supply and demand for both DRAM and NAND products in 2026 to be supply-constrained. These are not words that are commonly used by memory industry updates, and they suggest that Micron is not just a commodity compa...
07.21 GMT Introduction: Oil crisis risks 'broader stagflationary shock' as Brent hits $100 again Good morning and welcome to our rolling coverage of business, the financial markets and the world economy. Hopes that the market turmoil in the energy market might have abated are fading rapidly today, as Iran escalates its attacks on infrastructure and transport networks across the Gulf. The oil price...
07.21 GMT Introduction: Oil crisis risks 'broader stagflationary shock' as Brent hits $100 again Good morning and welcome to our rolling coverage of business, the financial markets and the world economy. Hopes that the market turmoil in the energy market might have abated are fading rapidly today, as Iran escalates its attacks on infrastructure and transport networks across the Gulf. The oil price has jumped after two tankers were set ablaze two tankers in Iraqi waters early this morning, after senior Iranian officials warned of a long “war of attrition” that would threaten chaos in the global economy. There are also reports that Oman’s key oil export terminal has been evacuated. These widespread Iranian attacks on Middle Eastern energy facilities drove Brent crude over the $100 a barrel mark again in early today, hitting $101.59 a barrel; it’s now slipped back to $97.50 a barrel, up 6% today. The jump in oil prices is fanning fears that the global economy could be tipped into stagflation – the unpleasant combination of rising prices and stagnant growth. Brent crude pops back toward $100 because, well, hard to say why it wasn’t there already pic.twitter.com/SGjbVYODt2 — Rory Johnston (@Rory_Johnston) March 12, 2026 Yesterday’s announcement of the largest release of government reserves in history has not calmed fears of major supply shortages if travel through the strait of Hormuz is not restored. Jim Reid, market strategist at Deutsche Bank, says investors are facing the risk of a “broader stagflationary shock”: double quotation mark From a market perspective, the problem is that investors are increasingly pricing in a more protracted conflict that causes extensive economic damage. After all, with no concrete signs of de-escalation yet, that’s keeping oil prices elevated, and raising the risk of a broader stagflationary shock. Indeed, we know that investors are pricing in the longer scenarios, because the 6-month Brent future is also up +3.06% this morning to $82.97...
European natural gas followed oil higher as shipping turmoil expands in the Middle East and markets prepare for disruptions to continue for months. Benchmark futures rose for a second day, adding as much as 7.7% and clawing back some of the losses earlier this week. In further signs of strain to global energy markets, Oman’s key oil export terminal was evacuated and two crude tankers were hit in I...
European natural gas followed oil higher as shipping turmoil expands in the Middle East and markets prepare for disruptions to continue for months. Benchmark futures rose for a second day, adding as much as 7.7% and clawing back some of the losses earlier this week. In further signs of strain to global energy markets, Oman’s key oil export terminal was evacuated and two crude tankers were hit in Iraqi waters. In liquefied natural gas, Asian buyers are preparing to purchase more supply for the next two months as the market tightens. Morgan Stanley raised its forecast for European gas prices for the rest of the year, as the region needs to attract large amounts of LNG over the summer to refill its depleted fuel inventories. The bank assumes at least a month-long outage to LNG production in Qatar, which will fully remove the global fuel surplus that had been expected for 2026. Since last week, the Middle East conflict has shut down Ras Laffan, the world’s largest LNG export facility in Qatar, and halted traffic through the crucial Strait of Hormuz. That cut about 20% of global LNG supply, sending Asian and European gas prices surging and sparking fears over inflationary pressures and economic ramifications. US President Donald Trump said Wednesday the massive release of emergency oil reserves approved by the International Energy Agency would ease energy price pressures while the US seeks to “finish the job” in its campaign against Iran. Yet the confirmation did little to calm markets. “Volatility remains the key theme as conflict in the Middle East continues,” shipbroker Fearnleys A/S said in a weekly note. “Where the LNG and the LNG shipping markets go in the coming days is still uncertain.” Dutch front-month futures, Europe’s gas benchmark, traded 3.4% higher at € 51.67 a megawatt-hour by 8:26 a.m. in Amsterdam. Asia LNG Buyers Prepare for Middle East War to Last Months China Tightens Fuel Export Curbs as Iran War Hits Oil Supply RWE to Invest $19.6 Billion in US Wit...