51 mins. ago
(Bloomberg) -- A federal judge suggested a court-appointed "neutral" overseer could allay concerns that the Justice Department might use a long-standing US fund to revive plans to compensate supporters of President Donald Trump as victims of government "weaponization."
Most Read from Bloomberg
Saudis Give European Oil Buyers No Supplies for Next Month
Zuckerberg Has an AI Empire to Build. Meet the Adviser Who Handles the Details
McDonald's Is Planning to Revamp Its Value Strategy to Revive US Sales
#revive #justice #department #Trump
Most Read from Bloomberg
Saudis Give European Oil Buyers No Supplies for Next Month
Zuckerberg Has an AI Empire to Build. Meet the Adviser Who Handles the Details
McDonald's Is Planning to Revamp Its Value Strategy to Revive US Sales
#revive #justice #department #Trump
2 hours ago
Investors are largely in agreement that most of Berkshire Hathaway's (NYSE: BRKA) (NYSE: BRKB) stock holdings are solid picks. Every now and then, though, one of its selections raises a few eyebrows.
That's what happened when Berkshire bought 3 million shares of department store chain Macy's (NYSE: M) in the first quarter of this year. Most people appreciate that the struggling company owns a real estate portfolio that may well be worth more than the organization's current market cap of just under $6 billion. To unlock that value, however, the company would need to take on the expensive -- and business-destructive -- headache of winding down at least some of its existing retailing operations, perhaps undermining the value of that real estate in the process.
Missed AI's "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our ***** ysts, we're only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
But maybe Berkshire Hathaway isn't looking at what's since grown to a 7.4 million share/$162 million stake in Macy's as a real estate bet after all. It could be a legitimate turnaround play.
This premise could be difficult to digest given the so-called retail apocalypse that's been underway since the advent of e-commerce. And, anyone who's been keeping close tabs on the brick-and-mortar retailing industry's struggle probably knows that department store chains' revenue peaked in the early 2000s, and has been dwindling ever since.
#real
That's what happened when Berkshire bought 3 million shares of department store chain Macy's (NYSE: M) in the first quarter of this year. Most people appreciate that the struggling company owns a real estate portfolio that may well be worth more than the organization's current market cap of just under $6 billion. To unlock that value, however, the company would need to take on the expensive -- and business-destructive -- headache of winding down at least some of its existing retailing operations, perhaps undermining the value of that real estate in the process.
Missed AI's "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our ***** ysts, we're only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
But maybe Berkshire Hathaway isn't looking at what's since grown to a 7.4 million share/$162 million stake in Macy's as a real estate bet after all. It could be a legitimate turnaround play.
This premise could be difficult to digest given the so-called retail apocalypse that's been underway since the advent of e-commerce. And, anyone who's been keeping close tabs on the brick-and-mortar retailing industry's struggle probably knows that department store chains' revenue peaked in the early 2000s, and has been dwindling ever since.
#real
13 hours ago
Interested in Motorola Solutions, Inc.? Here are five stocks we like better.
Motorola Solutions expects broad-based growth, projecting 2026 gains of 10%–11% in mission-critical networks, about 11% in video security and about 15% in command-center software, supported by modernization of public-safety and federal infrastructure.
Silvus Technologies is becoming a major defense growth driver, with approximately $850 million in expected 2026 sales at current capacity. Motorola is expanding production, sales and R&D as demand grows for secure communications in contested environments and unmanned-systems operations.
D-Fend Solutions expands Motorola's counter-drone opportunity in public safety, airports, critical infrastructure and venues. The business was selected for a $1.5 billion U.S. Department of Homeland Security grant program and uses cyber-based technology to take control of and safely land threatening drones.
Motorola's $1.5B Bet to Own the Skies
#Growth #safety #infrastructure
Motorola Solutions expects broad-based growth, projecting 2026 gains of 10%–11% in mission-critical networks, about 11% in video security and about 15% in command-center software, supported by modernization of public-safety and federal infrastructure.
Silvus Technologies is becoming a major defense growth driver, with approximately $850 million in expected 2026 sales at current capacity. Motorola is expanding production, sales and R&D as demand grows for secure communications in contested environments and unmanned-systems operations.
D-Fend Solutions expands Motorola's counter-drone opportunity in public safety, airports, critical infrastructure and venues. The business was selected for a $1.5 billion U.S. Department of Homeland Security grant program and uses cyber-based technology to take control of and safely land threatening drones.
Motorola's $1.5B Bet to Own the Skies
#Growth #safety #infrastructure
13 hours ago
UEC holds $488M cash with zero debt and actual uranium production; NXE's 257M lb Arrow deposit draws 16 unanimous ***** yst buy ratings averaging $19.
Utilities are structurally short contracted uranium pounds, and the last US mine permitting took 14 years, which helps explain why in-ground resources command extreme revenue multiples.
Denison's Phoenix is Canada's first uranium mine approved for construction in 20 years, with 8M+ lbs already contracted and first production targeted for mid-2028.
Just released. Our ***** ysts combed the entire stock market and named the ten best stocks to buy right now, and NexGen Energy didn't make the cut. Enter your email to see the names that beat NXE. The report is free. Enter your email and see if any of your stocks made the cut.
Uranium mining is the narrow end of the funnel feeding the AI-driven reactor buildout. On April 23, the U.S. Department of Energy launched the Nuclear Dominance 3x33 campaign to secure the domestic nuclear fuel supply chain and support future reactor deployment, and utilities are staring at a widening long-term supply gap while a Russian enriched-uranium ban takes hold.
#enter #contracted
Utilities are structurally short contracted uranium pounds, and the last US mine permitting took 14 years, which helps explain why in-ground resources command extreme revenue multiples.
Denison's Phoenix is Canada's first uranium mine approved for construction in 20 years, with 8M+ lbs already contracted and first production targeted for mid-2028.
Just released. Our ***** ysts combed the entire stock market and named the ten best stocks to buy right now, and NexGen Energy didn't make the cut. Enter your email to see the names that beat NXE. The report is free. Enter your email and see if any of your stocks made the cut.
Uranium mining is the narrow end of the funnel feeding the AI-driven reactor buildout. On April 23, the U.S. Department of Energy launched the Nuclear Dominance 3x33 campaign to secure the domestic nuclear fuel supply chain and support future reactor deployment, and utilities are staring at a widening long-term supply gap while a Russian enriched-uranium ban takes hold.
#enter #contracted
13 hours ago
The State Department's approval of two potential arms sales to Saudi Arabia totaling $5.75 billion, including JDAM-ER munitions and AGT-1500 tank engines, offers a modest but meaningful data point for two very different defense players. For The Boeing Company (NYSE:BA), the potential sale represents an additional international defense opportunity as the company continues working through margin pressure elsewhere. For Honeywell Aerospace Inc. (NASDAQ:HONA), the package reinforces a stable business line while the firm tackles its first quarter as a standalone public company.
The State Department approved a potential $5 billion sale of JDAM-ER guidance kits and bombs to Saudi Arabia, along with a separate potential $750 million deal for AGT-1500 tank engines. The JDAM package consists of 5,004 KMU-572 and 5,000 KMU-556 JDAM guidance kits and 5,004 BLU-111 and 5,000 BLU-117 bombs. Boeing has been identified as the principal contractor for the JDAM-ERs, with Honeywell handling the engines. The State Department said the sales would strengthen Saudi Arabia's airborne defense capabilities and improve interoperability with U.S. and Gulf partner forces.
Boeing stands to gain only modestly from the deal, given its roughly $85 billion Defense, ******* e and Security backlog. International orders already account for 27% of that total. The segment reported a second-quarter operating loss, largely due to charges tied to the VC-25B (Air Force One) program. That makes mature, lower-risk munitions programs such as JDAM-ER a more dependable part of the portfolio, though the deal is unlikely to have a meaningful impact on margins. For Honeywell Aerospace, the contract is smaller, but the AGT-1500 fits within its established defense propulsion business. It also adds to the company's international defence business, which makes up about 30% of its total Defense and ******* e revenue.
Honeywell Aerospace is owned by 74 hedge funds as of Q2 2026, which is consistent with Honeywell (NASDAQ:HON) hedge fund ownership prior to the spinoff. Unlike Honeywell, the number of hedge funds holding Boeing stock dropped from 99 at the end of the first quarter of fiscal 2026 to 90 at the end of Q2 2026.
Neither potential sale is large enough to have a meaningful impact on either company's short-term results by itself. Still, each supports a different investment story. For Boeing, the potential sales add to international defense exposure if finalized, as its defense unit continues dealing with fixed-price losses. For Honeywell, they support the steady flow of high-margin legacy revenue across its broader defense franchise.
#international #saudi
The State Department approved a potential $5 billion sale of JDAM-ER guidance kits and bombs to Saudi Arabia, along with a separate potential $750 million deal for AGT-1500 tank engines. The JDAM package consists of 5,004 KMU-572 and 5,000 KMU-556 JDAM guidance kits and 5,004 BLU-111 and 5,000 BLU-117 bombs. Boeing has been identified as the principal contractor for the JDAM-ERs, with Honeywell handling the engines. The State Department said the sales would strengthen Saudi Arabia's airborne defense capabilities and improve interoperability with U.S. and Gulf partner forces.
Boeing stands to gain only modestly from the deal, given its roughly $85 billion Defense, ******* e and Security backlog. International orders already account for 27% of that total. The segment reported a second-quarter operating loss, largely due to charges tied to the VC-25B (Air Force One) program. That makes mature, lower-risk munitions programs such as JDAM-ER a more dependable part of the portfolio, though the deal is unlikely to have a meaningful impact on margins. For Honeywell Aerospace, the contract is smaller, but the AGT-1500 fits within its established defense propulsion business. It also adds to the company's international defence business, which makes up about 30% of its total Defense and ******* e revenue.
Honeywell Aerospace is owned by 74 hedge funds as of Q2 2026, which is consistent with Honeywell (NASDAQ:HON) hedge fund ownership prior to the spinoff. Unlike Honeywell, the number of hedge funds holding Boeing stock dropped from 99 at the end of the first quarter of fiscal 2026 to 90 at the end of Q2 2026.
Neither potential sale is large enough to have a meaningful impact on either company's short-term results by itself. Still, each supports a different investment story. For Boeing, the potential sales add to international defense exposure if finalized, as its defense unit continues dealing with fixed-price losses. For Honeywell, they support the steady flow of high-margin legacy revenue across its broader defense franchise.
#international #saudi
19 hours ago
On September 4, the U.S. Department of War (DoW) announced a $336,112,000 Navy contract for Huntington Ingalls Industries, Inc. (NYSE:HII) to advance procurement of long-lead materials for the construction of the future USS William J. Clinton (CVN 82).
Work on the program will be executed in Newport News, Virginia, with completion anticipated by March 2039. Shipbuilding and conversion funding from FY 2026 will be obligated at the time of award.
The contract is not just a headline number, but reaffirms the company's status as the sole nuclear carrier builder for the U.S. Navy.
The long lead materials contract has secured Huntington Ingalls Industries, Inc. (NYSE:HII)'s role on the CVN 82 well before construction begins, which has extended revenue visibility to 2039.
According to defense websites, the Navy plans on spending $22.34 billion on its aircraft carrier replacement program over the next five years. This contract can be seen as among the first in a larger sequence, with more awards to come as procurement accelerates.
#navy #contract #ingalls #industries
Work on the program will be executed in Newport News, Virginia, with completion anticipated by March 2039. Shipbuilding and conversion funding from FY 2026 will be obligated at the time of award.
The contract is not just a headline number, but reaffirms the company's status as the sole nuclear carrier builder for the U.S. Navy.
The long lead materials contract has secured Huntington Ingalls Industries, Inc. (NYSE:HII)'s role on the CVN 82 well before construction begins, which has extended revenue visibility to 2039.
According to defense websites, the Navy plans on spending $22.34 billion on its aircraft carrier replacement program over the next five years. This contract can be seen as among the first in a larger sequence, with more awards to come as procurement accelerates.
#navy #contract #ingalls #industries
1 day ago
The top Democrat on the Senate Foreign Relations Committee has exercised a hold on a $2.8 billion weapons sale to Israel, The Hill has learned, allying with her counterpart in the House and underscoring deep mistrust with the Trump administration and Israeli government.
Sen. Jeanne Shaheen (D-N.H.) has expressed frustration that Israeli Prime Minister Benjamin Netanyahu has done nothing to address concerns from, specifically, Democratic lawmakers over the high civilian death tolls in Gaza, Israel’s bombing in Syria and escalating violence against Palestinians by extremist Israeli settlers in the West Bank.
The weapons package includes 40,000 one-ton bombs, munitions that the former Biden administration held back from sending to Israel for its indiscriminate destruction, contributing to the high death toll in the Gaza Strip.
An estimated 70,000 Palestinians were killed over the course of the three-year war between Israel and Hamas, according to Palestinian health officials, but that does not distinguish between militants and civilians.
Shaheen, as the top Democrat on the Senate Foreign Relations panel, has authority to hold back the Trump administration from moving ahead on weapons sales over a certain dollar amount. It’s generally an informal consultative process, where the State Department works to address a lawmaker’s concerns and get the green light before moving ahead on the arms sale.
#Israel #israeli #weapons #democrat
Sen. Jeanne Shaheen (D-N.H.) has expressed frustration that Israeli Prime Minister Benjamin Netanyahu has done nothing to address concerns from, specifically, Democratic lawmakers over the high civilian death tolls in Gaza, Israel’s bombing in Syria and escalating violence against Palestinians by extremist Israeli settlers in the West Bank.
The weapons package includes 40,000 one-ton bombs, munitions that the former Biden administration held back from sending to Israel for its indiscriminate destruction, contributing to the high death toll in the Gaza Strip.
An estimated 70,000 Palestinians were killed over the course of the three-year war between Israel and Hamas, according to Palestinian health officials, but that does not distinguish between militants and civilians.
Shaheen, as the top Democrat on the Senate Foreign Relations panel, has authority to hold back the Trump administration from moving ahead on weapons sales over a certain dollar amount. It’s generally an informal consultative process, where the State Department works to address a lawmaker’s concerns and get the green light before moving ahead on the arms sale.
#Israel #israeli #weapons #democrat
1 day ago
Immigrants applying to live permanently in the United States can be rejected if they receive public benefits, beginning this week.
Use of Medicaid, food stamps, tuition ******* istance and free school lunch programs, among other government ******* istance, could all be grounds for denying a green-card application.
Subscribe to The Post Most newsletter for the most important and interesting stories from The Washington Post.
The policy from President Donald Trump's administration, which took effect Friday, marks a dramatic change to a long-standing federal policy consistent with the president's efforts to restrict legal immigration pathways.
The rule could reduce federal and state payments by $13 billion a year, by persuading some 950,000 people to disenroll from or avoid federal safety net programs, according to estimates from the Department of Homeland Security. The agency said that the rule aligns with Congress's intent that noncitizens "in the United States be self-sufficient and not dependent on taxpayer-funded government benefits."
#states
Use of Medicaid, food stamps, tuition ******* istance and free school lunch programs, among other government ******* istance, could all be grounds for denying a green-card application.
Subscribe to The Post Most newsletter for the most important and interesting stories from The Washington Post.
The policy from President Donald Trump's administration, which took effect Friday, marks a dramatic change to a long-standing federal policy consistent with the president's efforts to restrict legal immigration pathways.
The rule could reduce federal and state payments by $13 billion a year, by persuading some 950,000 people to disenroll from or avoid federal safety net programs, according to estimates from the Department of Homeland Security. The agency said that the rule aligns with Congress's intent that noncitizens "in the United States be self-sufficient and not dependent on taxpayer-funded government benefits."
#states
1 day ago
For around 15 hours, immigration detention officers kept Raúl Suárez Herrero confined in a cage slightly larger than a phone booth, where he feared snakes and endured mosquitoes in the middle of Florida swampland, the former detainee alleged.
Suárez, 59, told José Díaz-Balart in an interview for Noticias Telemundo’s “Ahora 360” that he was forced into the cage, measuring 7 feet, 9 inches high and 4 feet, 3 inches square, for praying out loud for an ill young man at “Alligator Alcatraz,” an ICE detention site.
“I feel like I was in ****** ,” Suárez later told NBC News in a phone interview from Mexico, where he was deported.
Suárez spoke days after a Department of Homeland Security watchdog confirmed the use of the phone booth-sized cages at the now-shuttered Florida detention camp in a Sept. 11 report.
“The use of such restrictive ****** es is highly unconventional and does not align with standards for humane treatment,” the report said.
#detention #phone #Florida #report
Suárez, 59, told José Díaz-Balart in an interview for Noticias Telemundo’s “Ahora 360” that he was forced into the cage, measuring 7 feet, 9 inches high and 4 feet, 3 inches square, for praying out loud for an ill young man at “Alligator Alcatraz,” an ICE detention site.
“I feel like I was in ****** ,” Suárez later told NBC News in a phone interview from Mexico, where he was deported.
Suárez spoke days after a Department of Homeland Security watchdog confirmed the use of the phone booth-sized cages at the now-shuttered Florida detention camp in a Sept. 11 report.
“The use of such restrictive ****** es is highly unconventional and does not align with standards for humane treatment,” the report said.
#detention #phone #Florida #report
2 days ago
WASHINGTON (AP) — Tensions are mounting between the Pentagon and Congress over the flow of information to lawmakers about the U.S. military's priorities, with both Democrats and Republicans accusing a Defense Department leader of being frustratingly opaque.
Some senators from both parties say they were left deeply unsettled Thursday after the Pentagon's top policy adviser, Defense Undersecretary Elbridge Colby, failed to provide an expected update on the Trump administration's National Defense Strategy at a classified briefing.
The lawmakers also say they were unsatisfied with Colby's answers to questions ranging from inquiries about the Iran war to growing concerns that President Donald Trump could deploy troops to polling places during November's midterm congressional elections. Colby acknowledged that discussions about deploying the National Guard were taking place.
Sen. Jacky Rosen, a Nevada Democrat on the Senate Armed Services Committee, said Colby "was not forthcoming" and "did not really address our concerns or issues."
Sen. Kevin Cramer, a North Dakota Republican also on the committee, described the classified briefing as "just sort of dodge and punt."
#national #committee #lawmakers #concerns
Some senators from both parties say they were left deeply unsettled Thursday after the Pentagon's top policy adviser, Defense Undersecretary Elbridge Colby, failed to provide an expected update on the Trump administration's National Defense Strategy at a classified briefing.
The lawmakers also say they were unsatisfied with Colby's answers to questions ranging from inquiries about the Iran war to growing concerns that President Donald Trump could deploy troops to polling places during November's midterm congressional elections. Colby acknowledged that discussions about deploying the National Guard were taking place.
Sen. Jacky Rosen, a Nevada Democrat on the Senate Armed Services Committee, said Colby "was not forthcoming" and "did not really address our concerns or issues."
Sen. Kevin Cramer, a North Dakota Republican also on the committee, described the classified briefing as "just sort of dodge and punt."
#national #committee #lawmakers #concerns
2 days ago
International Business Machines (IBM) has secured a landmark $1 billion federal award from the U.S. Department of Commerce under the CHIPS and Science Act. The deal finalized non-dilutive funding to accelerate quantum wafer manufacturing at Anderon, a dedicated quantum foundry company spun out by IBM.
At the time of writing, IBM shares are down about 17% versus the start of this year.
Why It's Time to Load Up on Nvidia Stock
The Case for Selling CrowdStrike Stock
Dear Tesla Stock Fans, Mark Your Calendars for October 1
#international #commerce
At the time of writing, IBM shares are down about 17% versus the start of this year.
Why It's Time to Load Up on Nvidia Stock
The Case for Selling CrowdStrike Stock
Dear Tesla Stock Fans, Mark Your Calendars for October 1
#international #commerce
2 days ago
Fox Corporation (NASDAQ:FOXA) disclosed on September 9 that the U.S. Department of Justice issued a second request for information concerning the proposed acquisition of Roku, Inc. (NASDAQ:ROKU). Cooperation with the review continues, and the expected closing remains in the first half of 2027, according to The Wall Street Journal.
A second request extends the premerger waiting period while regulators seek additional documents and data. For investors, the question is whether Fox Corporation (NASDAQ:FOXA) can preserve the acquisition's streaming benefits through a potentially longer review and any conditions attached to clearance.
The strategic fit centers on combining content with distribution. Roku, Inc. (NASDAQ:ROKU) reaches more than 100 million households globally and would provide Fox Corporation (NASDAQ:FOXA) with an established connected-television platform, advertising technology and direct consumer relationships.
That reach could create additional opportunities to promote live news, sports and streaming services. For advertisers, a broader combination of content, audience data and campaign tools could make the combined offering more useful, provided integration improves targeting and measurement.
The commercial opportunity also extends beyond audience growth. Better advertising monetization and more efficient promotion of streaming services could improve the value generated from existing viewers. Household reach provides the starting point; advertising revenue, engagement and customer acquisition costs would determine the financial payoff.
#advertising #second #request #review
A second request extends the premerger waiting period while regulators seek additional documents and data. For investors, the question is whether Fox Corporation (NASDAQ:FOXA) can preserve the acquisition's streaming benefits through a potentially longer review and any conditions attached to clearance.
The strategic fit centers on combining content with distribution. Roku, Inc. (NASDAQ:ROKU) reaches more than 100 million households globally and would provide Fox Corporation (NASDAQ:FOXA) with an established connected-television platform, advertising technology and direct consumer relationships.
That reach could create additional opportunities to promote live news, sports and streaming services. For advertisers, a broader combination of content, audience data and campaign tools could make the combined offering more useful, provided integration improves targeting and measurement.
The commercial opportunity also extends beyond audience growth. Better advertising monetization and more efficient promotion of streaming services could improve the value generated from existing viewers. Household reach provides the starting point; advertising revenue, engagement and customer acquisition costs would determine the financial payoff.
#advertising #second #request #review
2 days ago
By Lucia Mutikani
WASHINGTON, Sept 16 (Reuters) - U.S. retail sales rebounded sharply in August as households boosted purchases of a range of goods while also spending more at restaurants and bars, reinforcing the economy's resilience even as consumers grow more anxious about high inflation.
The stronger-than-expected report from the Commerce Department on Wednesday prompted economists to upgrade their gross domestic product growth estimates for the third quarter. Inflation jitters were underscored by news of a surge in import prices last month amid strong increases in the costs of capital and consumer goods.
The reports followed data this month showing producer and consumer prices accelerated in August, while the labor market regained its poise after wobbling through much of summer.
The Federal Reserve on Wednesday raised its benchmark overnight interest rate by a quarter of a percentage point to the 3.75%-4.00% range and flagged further increases in borrowing costs in the months ahead.
#inflation #quarter
WASHINGTON, Sept 16 (Reuters) - U.S. retail sales rebounded sharply in August as households boosted purchases of a range of goods while also spending more at restaurants and bars, reinforcing the economy's resilience even as consumers grow more anxious about high inflation.
The stronger-than-expected report from the Commerce Department on Wednesday prompted economists to upgrade their gross domestic product growth estimates for the third quarter. Inflation jitters were underscored by news of a surge in import prices last month amid strong increases in the costs of capital and consumer goods.
The reports followed data this month showing producer and consumer prices accelerated in August, while the labor market regained its poise after wobbling through much of summer.
The Federal Reserve on Wednesday raised its benchmark overnight interest rate by a quarter of a percentage point to the 3.75%-4.00% range and flagged further increases in borrowing costs in the months ahead.
#inflation #quarter
2 days ago
The White House on Thursday withdrew the nomination of Oklahoma state trooper Lance Schroyer to lead Immigration and Customs Enforcement after a Republican blocked his confirmation hearing.
Schroyer's nomination stalled after Senate Homeland Security Chair Rand Paul (R-Ky.), a foe of Homeland Security Secretary Markwayne Mullin, requested that the Department of Homeland Security provide his committee with more information about its investigation into two ICE and Border Patrol agents accused of killing two U.S. citizens in Minneapolis in January.
Paul, who as chair controls the committee's hearing and markup agenda, did not oppose Schroyer's nomination, per Drew Carmichael, a spokesperson for the senator.
Schroyer was a surprise pick to lead ICE. He had no experience leading a major law enforcement agency, let alone an organization the size of ICE. But Schroyer has close ties with the DHS secretary. Schroyer at one point led Mullin's security detail and Mullin made Schroyer a senior adviser at DHS.
The White House and DHS did not immediately respond to requests for comment.
#homeland #mullin #enforcement
Schroyer's nomination stalled after Senate Homeland Security Chair Rand Paul (R-Ky.), a foe of Homeland Security Secretary Markwayne Mullin, requested that the Department of Homeland Security provide his committee with more information about its investigation into two ICE and Border Patrol agents accused of killing two U.S. citizens in Minneapolis in January.
Paul, who as chair controls the committee's hearing and markup agenda, did not oppose Schroyer's nomination, per Drew Carmichael, a spokesperson for the senator.
Schroyer was a surprise pick to lead ICE. He had no experience leading a major law enforcement agency, let alone an organization the size of ICE. But Schroyer has close ties with the DHS secretary. Schroyer at one point led Mullin's security detail and Mullin made Schroyer a senior adviser at DHS.
The White House and DHS did not immediately respond to requests for comment.
#homeland #mullin #enforcement
2 days ago
What percentage of Republicans support DEI as a business priority?
How much did Accenture pay to resolve the Justice Department's allegations?
Why has bipartisan support for DEI increased despite political polarization?
Full Summary
Political pressure during the Trump era forced corporate America to put its diversity, equity and inclusion initiatives on ice.
#full
How much did Accenture pay to resolve the Justice Department's allegations?
Why has bipartisan support for DEI increased despite political polarization?
Full Summary
Political pressure during the Trump era forced corporate America to put its diversity, equity and inclusion initiatives on ice.
#full
3 days ago
The Southwest faces a barrage of intense rain this week as rounds of storms are tapping into unusually moisture-rich air being pulled north from Baja California, after flash flooding in New Mexico killed three people early Wednesday.
Officers responded at around 12:30 a.m. local time to a report of three people washed away by flooding near Newcomb, New Mexico, on the Navajo Nation. Police discovered two adults and one juvenile on scene, the Navajo Police Department said in a statement. All three were ****** ounced dead. The department declined to provide further details about the deaths when contacted by CNN, citing concern for the family’s privacy.
🌧️ Get your local forecast from the CNN Weather app
Rainfall over Newcomb began Tuesday afternoon around 4:30 p.m. and lingered intermittently until just after midnight. The area saw around 0.5 inches to 1 inch of rain in total, with most of it falling within an hour Tuesday evening.
Wednesday’s storms prompted a rare Level 3 of 4 risk of flooding rainfall for parts of Arizona and New Mexico, including Phoenix and Tucson. Phoenix had not faced a flood risk that high since 2022.
#flooding #around #wednesday #navajo
Officers responded at around 12:30 a.m. local time to a report of three people washed away by flooding near Newcomb, New Mexico, on the Navajo Nation. Police discovered two adults and one juvenile on scene, the Navajo Police Department said in a statement. All three were ****** ounced dead. The department declined to provide further details about the deaths when contacted by CNN, citing concern for the family’s privacy.
🌧️ Get your local forecast from the CNN Weather app
Rainfall over Newcomb began Tuesday afternoon around 4:30 p.m. and lingered intermittently until just after midnight. The area saw around 0.5 inches to 1 inch of rain in total, with most of it falling within an hour Tuesday evening.
Wednesday’s storms prompted a rare Level 3 of 4 risk of flooding rainfall for parts of Arizona and New Mexico, including Phoenix and Tucson. Phoenix had not faced a flood risk that high since 2022.
#flooding #around #wednesday #navajo
3 days ago
Two former Robinhood engineers allegedly used confidential information about upcoming cryptocurrency listings to make profitable trades on decentralized exchange Hyperliquid, federal prosecutors said Tuesday.
Hefu Chai, 36, and Huaisong "Jerry" Xiang, 30, each face one count of commodities fraud and one count of wire fraud.
"Today's charges make clear that corporate insiders cannot evade the securities and commodities laws by trading based on misappropriated information in derivatives like perpetual futures, tokenized securities, or other similar financial instruments," U.S. Attorney Jamie McDonald said in a statement.
Perpetual futures, or "perps," let traders speculate on an **** et's price—often with leverage—without owning it. Unlike conventional futures, the derivatives do not expire. Hyperliquid is one of the largest decentralized platforms for trading perps and has faced increased regulatory scrutiny.
According to the DOJ, the engineers allegedly used nonpublic information about upcoming Robinhood Crypto token listings to buy related perpetual futures before the announcements, earning profits "for their own benefit" between 2025 and 2026. Each defendant earned more than $50,000 from the alleged scheme, the Justice Department said.
#futures #engineers
Hefu Chai, 36, and Huaisong "Jerry" Xiang, 30, each face one count of commodities fraud and one count of wire fraud.
"Today's charges make clear that corporate insiders cannot evade the securities and commodities laws by trading based on misappropriated information in derivatives like perpetual futures, tokenized securities, or other similar financial instruments," U.S. Attorney Jamie McDonald said in a statement.
Perpetual futures, or "perps," let traders speculate on an **** et's price—often with leverage—without owning it. Unlike conventional futures, the derivatives do not expire. Hyperliquid is one of the largest decentralized platforms for trading perps and has faced increased regulatory scrutiny.
According to the DOJ, the engineers allegedly used nonpublic information about upcoming Robinhood Crypto token listings to buy related perpetual futures before the announcements, earning profits "for their own benefit" between 2025 and 2026. Each defendant earned more than $50,000 from the alleged scheme, the Justice Department said.
#futures #engineers
3 days ago
Auxier ******* et Management, an investment advisory firm, released its second-quarter 2026 investor letter. The letter can be downloaded here. Following a strong rebound from the first-quarter decline, the S&P 500 gained 15.2% as accelerating capital spending toward artificial intelligence infrastructure drove significant gains across technology hardware companies. Semiconductor and data-center-related businesses benefited from supply constraints and strong demand, while enterprise software remained under pressure as investors reassessed AI disruption risks and compressed valuations. In the quarter, Auxier Focus Fund's Investor Class gained 8.82% and 10.70% for the six months ended June 30, 2026. Despite strong earnings growth across the broader market, Auxier highlighted concerns around rising margin debt, increased leverage, and elevated capital flows into high-growth technology areas that could amplify future volatility. The firm continues to focus on identifying enduring businesses with strong competitive advantages, resilient cash flows, and sustainable long-term growth potential. Also, check the fund's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Auxier ******* et Management highlighted The Kroger Co. (NYSE:KR). The Kroger Co. (NYSE:KR) is a leading supermarket chain that operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. On September 14, 2026, The Kroger Co. (NYSE:KR) closed at $60.91 per share. Over the past month, The Kroger Co. (NYSE:KR) returned 10.12%, but its shares are down 7.06% over the past year. The Kroger Co. (NYSE:KR) has a market capitalization of $37.32 billion, and its stock has traded within a 52-week range of $54.15 to $76.58.
Auxier ******* et Management stated the following regarding The Kroger Co. (NYSE:KR) in its Q2 2026 investor letter:
"Consumer staples underperformed during the quarter. Elevated inflation, high interest rates and rising gas prices contributed to lower consumer spending, impacting companies like The Kroger Co. (NYSE:KR) and PepsiCo. Although Kroger's stock has been weak, its new CEO Greg Foran brings exceptional leadership that promises positive change. While he was President of Walmart US from 2014-2019, the company achieved 20 consecutive quarters of same-store sales growth and scaled its online grocery pickup. Since joining Kroger he has aggressively reduced prices and boosted the growth in private label and organic offerings. The stock trades at a mere 12 times earnings which is a significant discount to both Costco and Walmart."
#Growth #asset
In its second-quarter 2026 investor letter, Auxier ******* et Management highlighted The Kroger Co. (NYSE:KR). The Kroger Co. (NYSE:KR) is a leading supermarket chain that operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. On September 14, 2026, The Kroger Co. (NYSE:KR) closed at $60.91 per share. Over the past month, The Kroger Co. (NYSE:KR) returned 10.12%, but its shares are down 7.06% over the past year. The Kroger Co. (NYSE:KR) has a market capitalization of $37.32 billion, and its stock has traded within a 52-week range of $54.15 to $76.58.
Auxier ******* et Management stated the following regarding The Kroger Co. (NYSE:KR) in its Q2 2026 investor letter:
"Consumer staples underperformed during the quarter. Elevated inflation, high interest rates and rising gas prices contributed to lower consumer spending, impacting companies like The Kroger Co. (NYSE:KR) and PepsiCo. Although Kroger's stock has been weak, its new CEO Greg Foran brings exceptional leadership that promises positive change. While he was President of Walmart US from 2014-2019, the company achieved 20 consecutive quarters of same-store sales growth and scaled its online grocery pickup. Since joining Kroger he has aggressively reduced prices and boosted the growth in private label and organic offerings. The stock trades at a mere 12 times earnings which is a significant discount to both Costco and Walmart."
#Growth #asset
3 days ago
Auxier ***** et Management, an investment advisory firm, released its second-quarter 2026 investor letter. The letter can be downloaded here. Following a strong rebound from the first-quarter decline, the S&P 500 gained 15.2% as accelerating capital spending toward artificial intelligence infrastructure drove significant gains across technology hardware companies. Semiconductor and data-center-related businesses benefited from supply constraints and strong demand, while enterprise software remained under pressure as investors reassessed AI disruption risks and compressed valuations. In the quarter, Auxier Focus Fund's Investor Class gained 8.82% and 10.70% for the six months ended June 30, 2026. Despite strong earnings growth across the broader market, Auxier highlighted concerns around rising margin debt, increased leverage, and elevated capital flows into high-growth technology areas that could amplify future volatility. The firm continues to focus on identifying enduring businesses with strong competitive advantages, resilient cash flows, and sustainable long-term growth potential. Also, check the fund's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Auxier ***** et Management highlighted The Kroger Co. (NYSE:KR). The Kroger Co. (NYSE:KR) is a leading supermarket chain that operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. On September 14, 2026, The Kroger Co. (NYSE:KR) closed at $60.91 per share. Over the past month, The Kroger Co. (NYSE:KR) returned 10.12%, but its shares are down 7.06% over the past year. The Kroger Co. (NYSE:KR) has a market capitalization of $37.32 billion, and its stock has traded within a 52-week range of $54.15 to $76.58.
Auxier ***** et Management stated the following regarding The Kroger Co. (NYSE:KR) in its Q2 2026 investor letter:
"Consumer staples underperformed during the quarter. Elevated inflation, high interest rates and rising gas prices contributed to lower consumer spending, impacting companies like The Kroger Co. (NYSE:KR) and PepsiCo. Although Kroger's stock has been weak, its new CEO Greg Foran brings exceptional leadership that promises positive change. While he was President of Walmart US from 2014-2019, the company achieved 20 consecutive quarters of same-store sales growth and scaled its online grocery pickup. Since joining Kroger he has aggressively reduced prices and boosted the growth in private label and organic offerings. The stock trades at a mere 12 times earnings which is a significant discount to both Costco and Walmart."
#NYSE #quarter #Growth #strong
In its second-quarter 2026 investor letter, Auxier ***** et Management highlighted The Kroger Co. (NYSE:KR). The Kroger Co. (NYSE:KR) is a leading supermarket chain that operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. On September 14, 2026, The Kroger Co. (NYSE:KR) closed at $60.91 per share. Over the past month, The Kroger Co. (NYSE:KR) returned 10.12%, but its shares are down 7.06% over the past year. The Kroger Co. (NYSE:KR) has a market capitalization of $37.32 billion, and its stock has traded within a 52-week range of $54.15 to $76.58.
Auxier ***** et Management stated the following regarding The Kroger Co. (NYSE:KR) in its Q2 2026 investor letter:
"Consumer staples underperformed during the quarter. Elevated inflation, high interest rates and rising gas prices contributed to lower consumer spending, impacting companies like The Kroger Co. (NYSE:KR) and PepsiCo. Although Kroger's stock has been weak, its new CEO Greg Foran brings exceptional leadership that promises positive change. While he was President of Walmart US from 2014-2019, the company achieved 20 consecutive quarters of same-store sales growth and scaled its online grocery pickup. Since joining Kroger he has aggressively reduced prices and boosted the growth in private label and organic offerings. The stock trades at a mere 12 times earnings which is a significant discount to both Costco and Walmart."
#NYSE #quarter #Growth #strong
3 days ago
The aerospace industry is evolving as Boeing (NYSE:BA) attempts a massive operational turnaround while Rocket Lab (NASDAQ:RKLB) rapidly expands its footprint across the global ******* e economy.
Boeing remains a dominant force in commercial aviation and defense, whereas Rocket Lab specializes in small-satellite launches and ******* ecraft components. Investors often compare them to decide between an established giant recovering from crisis and a high-growth challenger in the private ******* e sector.
Boeing operates as a massive player among defense stocks and commercial aviation leaders, manufacturing everything from the 737 Max to advanced military rotorcraft. The company generates revenue through commercial aircraft sales, defense contracts with the U.S. Department of Defense and NASA, and global services. Customer concentration like this adds a layer of risk to the business. In 2025, the company acquired Spirit AeroSystems to address long-standing quality issues, providing transition services to other buyers like Airbus (OTC:EADSF).
In FY 2025, revenue reached nearly $89.5 billion, representing a growth of roughly 34.5% over the previous year. The company reported a net income of approximately $2.2 billion, a significant recovery from the net loss of nearly $11.8 billion in FY 2024. This improvement in the net margin to 2.5% suggests the company is beginning to stabilize its bottom line after years of heavy losses.
As of its December 2025 balance sheet, Boeing carries a debt-to-equity ratio of nearly 10.0x, a measure comparing total debt to shareholder equity that indicates a heavy reliance on borrowing. The company reported a current ratio of nearly 1.2x, which measures a company's ability to cover its short-term debts with liquid ******* ets. Note that stock-based compensation represented roughly 40% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement. The company also generated a negative free cash flow of approximately $1.9 billion, representing operating cash minus spending on physical ******* ets.
#boeing #nearly #rocket
Boeing remains a dominant force in commercial aviation and defense, whereas Rocket Lab specializes in small-satellite launches and ******* ecraft components. Investors often compare them to decide between an established giant recovering from crisis and a high-growth challenger in the private ******* e sector.
Boeing operates as a massive player among defense stocks and commercial aviation leaders, manufacturing everything from the 737 Max to advanced military rotorcraft. The company generates revenue through commercial aircraft sales, defense contracts with the U.S. Department of Defense and NASA, and global services. Customer concentration like this adds a layer of risk to the business. In 2025, the company acquired Spirit AeroSystems to address long-standing quality issues, providing transition services to other buyers like Airbus (OTC:EADSF).
In FY 2025, revenue reached nearly $89.5 billion, representing a growth of roughly 34.5% over the previous year. The company reported a net income of approximately $2.2 billion, a significant recovery from the net loss of nearly $11.8 billion in FY 2024. This improvement in the net margin to 2.5% suggests the company is beginning to stabilize its bottom line after years of heavy losses.
As of its December 2025 balance sheet, Boeing carries a debt-to-equity ratio of nearly 10.0x, a measure comparing total debt to shareholder equity that indicates a heavy reliance on borrowing. The company reported a current ratio of nearly 1.2x, which measures a company's ability to cover its short-term debts with liquid ******* ets. Note that stock-based compensation represented roughly 40% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement. The company also generated a negative free cash flow of approximately $1.9 billion, representing operating cash minus spending on physical ******* ets.
#boeing #nearly #rocket
3 days ago
Ocean Power Technologies Inc (NYSE-A:OPTT) reported first-quarter fiscal 2027 revenue of $1.7 million, up 44% from a year earlier, as the company expanded its work with US defense and security customers and moved forward with a strategic review process.
Ocean Power Technologies ran three PowerBuoy systems off Southern California for a U.S. Department of Homeland Security maritime domain awareness program, integrated with Anduril's Lattice platform and including a deployment beyond 1,000 meters depth, calling it the company's largest deployment and recurring revenue contract to date.
Ocean Power Technologies also deployed a PowerBuoy system off New Jersey for Rutgers University and delivered a WAM-V unmanned surface vehicle to Stevens Institute of Technology within five weeks of receiving the order.
The company demonstrated autonomous docking, charging and redeployment of a WAM-V, a capability it is working to integrate with the PowerBuoy platform to support longer autonomous missions. It also acquired subsea developmental technology ****** ets from Columbia Power Technologies, extending its capabilities from the ocean surface to the seabed.
Ocean Power Technologies achieved Cybersecurity Maturity Model Certification Level 2 compliance, positioning it to pursue defense programs requiring protection of controlled unclassified information. After the quarter ended, the company was selected as one of six potential awardees under a $40 million multiple-award contract supporting the Naval Oceanographic Office, creating an opportunity to compete for ocean-floor mapping task orders using unmanned surface vehicles.
#ocean #power #technologies #powerbuoy
Ocean Power Technologies ran three PowerBuoy systems off Southern California for a U.S. Department of Homeland Security maritime domain awareness program, integrated with Anduril's Lattice platform and including a deployment beyond 1,000 meters depth, calling it the company's largest deployment and recurring revenue contract to date.
Ocean Power Technologies also deployed a PowerBuoy system off New Jersey for Rutgers University and delivered a WAM-V unmanned surface vehicle to Stevens Institute of Technology within five weeks of receiving the order.
The company demonstrated autonomous docking, charging and redeployment of a WAM-V, a capability it is working to integrate with the PowerBuoy platform to support longer autonomous missions. It also acquired subsea developmental technology ****** ets from Columbia Power Technologies, extending its capabilities from the ocean surface to the seabed.
Ocean Power Technologies achieved Cybersecurity Maturity Model Certification Level 2 compliance, positioning it to pursue defense programs requiring protection of controlled unclassified information. After the quarter ended, the company was selected as one of six potential awardees under a $40 million multiple-award contract supporting the Naval Oceanographic Office, creating an opportunity to compete for ocean-floor mapping task orders using unmanned surface vehicles.
#ocean #power #technologies #powerbuoy
3 days ago
WASHINGTON (AP) — The Trump administration is stripping tens of millions of dollars in U.S. military ******* istance from countries in Europe and the Middle East to support conservative-leaning governments in Central and South America.
The State Department on Tuesday notified Congress that it will reprogram $52 million in foreign military financing from Slovakia, North Macedonia, Tunisia and Iraq to Panama, Peru, Ecuador and Colombia.
Secretary of State Marco Rubio visited Colombia, Ecuador and Peru last week and pledged to them additional support as the Trump administration has prioritized the Western Hemisphere in its foreign policy with an emphasis on combating drug trafficking and illegal immigration.
It is just the latest in a series of moves that have reduced either money or troop deployments to Europe in response to President Donald Trump's complaints about NATO allies not spending enough on their defense budgets and other matters. Both North Macedonia and Slovakia are NATO members.
But it also comes as the administration has put particular attention on the Western Hemisphere, aligning deeply with right-wing governments as Trump celebrates a renewal of the 19th century Monroe Doctrine establishing Washington's dominance in the Americas.
#Trump #Europe #slovakia
The State Department on Tuesday notified Congress that it will reprogram $52 million in foreign military financing from Slovakia, North Macedonia, Tunisia and Iraq to Panama, Peru, Ecuador and Colombia.
Secretary of State Marco Rubio visited Colombia, Ecuador and Peru last week and pledged to them additional support as the Trump administration has prioritized the Western Hemisphere in its foreign policy with an emphasis on combating drug trafficking and illegal immigration.
It is just the latest in a series of moves that have reduced either money or troop deployments to Europe in response to President Donald Trump's complaints about NATO allies not spending enough on their defense budgets and other matters. Both North Macedonia and Slovakia are NATO members.
But it also comes as the administration has put particular attention on the Western Hemisphere, aligning deeply with right-wing governments as Trump celebrates a renewal of the 19th century Monroe Doctrine establishing Washington's dominance in the Americas.
#Trump #Europe #slovakia
3 days ago
By Lucia Mutikani
WASHINGTON, Sept 16 (Reuters) - U.S. retail sales rebounded sharply in August as households boosted purchases of a range of goods while also spending more at restaurants and bars, reinforcing the economy's resilience even as consumers grow more anxious about high inflation.
The stronger-than-expected report from the Commerce Department on Wednesday prompted economists to upgrade their gross domestic product growth estimates for the third quarter. Together with other data on Wednesday showing a surge in import prices last month, strong demand sealed the argument for a widely anticipated interest rate increase from the Federal Reserve later in the day, economists said.
The reports followed data this month showing producer and consumer prices accelerated in August, while the labor market regained its poise after wobbling through much of summer.
"This reaffirms that the economy is more than capable of handling higher interest rates, providing the Fed plenty of scope to hike to get inflation under control," said Bradley Saunders, North America economist at Capital Economics.
#economists #data #month
WASHINGTON, Sept 16 (Reuters) - U.S. retail sales rebounded sharply in August as households boosted purchases of a range of goods while also spending more at restaurants and bars, reinforcing the economy's resilience even as consumers grow more anxious about high inflation.
The stronger-than-expected report from the Commerce Department on Wednesday prompted economists to upgrade their gross domestic product growth estimates for the third quarter. Together with other data on Wednesday showing a surge in import prices last month, strong demand sealed the argument for a widely anticipated interest rate increase from the Federal Reserve later in the day, economists said.
The reports followed data this month showing producer and consumer prices accelerated in August, while the labor market regained its poise after wobbling through much of summer.
"This reaffirms that the economy is more than capable of handling higher interest rates, providing the Fed plenty of scope to hike to get inflation under control," said Bradley Saunders, North America economist at Capital Economics.
#economists #data #month
3 days ago
The Justice Department has charged dozens of people for suspected fraud related to the COVID-19 pandemic that resulted in hundreds of millions of dollars in losses, U.S. Attorney General Todd Blanche said Tuesday.
Speaking with reporters in the White House Rose Garden, Blanche said that between mid-June and September, federal prosecutors from across the country helped facilitate the arrests of 160 criminal defendants, including around 80 who were newly charged over suspected COVID fraud in Missouri and neighboring states.
The suspected crimes involved more than $245 million in losses, Blanche said.
White House Launches Interactive Map Tracking Billions In Suspected Fraud
Attorney General Todd Blanche has announced charges against dozens of people connected to suspected COVID-19 relief fraud.
#white #House
Speaking with reporters in the White House Rose Garden, Blanche said that between mid-June and September, federal prosecutors from across the country helped facilitate the arrests of 160 criminal defendants, including around 80 who were newly charged over suspected COVID fraud in Missouri and neighboring states.
The suspected crimes involved more than $245 million in losses, Blanche said.
White House Launches Interactive Map Tracking Billions In Suspected Fraud
Attorney General Todd Blanche has announced charges against dozens of people connected to suspected COVID-19 relief fraud.
#white #House
3 days ago
On September 14, American Battery Technology Company (NASDAQ:ABAT) held its fiscal year 2026 earnings call, and for once the numbers matched the ambition. Revenue at its flagship recycling facility jumped more than 400% to $21.7 million, and the company posted its first-ever adjusted gross profit. But on the same call, CEO Ryan Melsert disclosed a federal directive that could choke off exports of one of the plant's key products, black mass, a reminder that ABAT's fortunes are still tied tightly to Washington.
Revenue jumped over 400% year over year to $21.7 million, fueled by higher throughput at the company's first recycling facility and increased sales of byproducts. Cost of goods sold rose only 67% over the same stretch, evidence that fixed costs are spreading across a much bigger volume of material. Even more telling, operating cash spend actually fell 16% even as throughput at the plant more than quadrupled. That combination pushed American Battery Technology to an adjusted gross profit of $1.7 million, a sharp turnaround from the $6.2 million loss it posted a year earlier.
The balance sheet tells a similar story. Cash climbed to $49.5 million as of June 30, 2026, and total ***** ets reached $133 million, up sharply from the prior year. The company also erased all of its long-term debt during the year, leaving it with a clean balance sheet heading into a period of heavy capital spending.
Growth plans are already in motion. A second recycling facility planned for the Southeast U.S., designed to process 100,000 tons of batteries a year, is backed by a $150 million grant from the Department of Energy, and a separate $10 million DOE grant is funding three next-generation recycling technologies. On the mining side, the Bureau of Land Management certified the company's plan of operations for its Tonopah lithium project in Nevada, home to an identified 21.3 million tons of lithium hydroxide, including 2.7 million tons of proven and probable reserves. The project also won a FAST-41 priority designation, intended to speed up federal permitting.
The clearest risk surfaced on the call itself. The US Department of Commerce issued a directive that effectively bans the export of black mass, the concentrated metal byproduct of battery recycling, unless a company obtains a specific exception. American Battery Technology has submitted a request for that exception, but as of the call, Commerce had not issued a formal response, and the company is storing black mass at its facility in the meantime.
#company #recycling #black
Revenue jumped over 400% year over year to $21.7 million, fueled by higher throughput at the company's first recycling facility and increased sales of byproducts. Cost of goods sold rose only 67% over the same stretch, evidence that fixed costs are spreading across a much bigger volume of material. Even more telling, operating cash spend actually fell 16% even as throughput at the plant more than quadrupled. That combination pushed American Battery Technology to an adjusted gross profit of $1.7 million, a sharp turnaround from the $6.2 million loss it posted a year earlier.
The balance sheet tells a similar story. Cash climbed to $49.5 million as of June 30, 2026, and total ***** ets reached $133 million, up sharply from the prior year. The company also erased all of its long-term debt during the year, leaving it with a clean balance sheet heading into a period of heavy capital spending.
Growth plans are already in motion. A second recycling facility planned for the Southeast U.S., designed to process 100,000 tons of batteries a year, is backed by a $150 million grant from the Department of Energy, and a separate $10 million DOE grant is funding three next-generation recycling technologies. On the mining side, the Bureau of Land Management certified the company's plan of operations for its Tonopah lithium project in Nevada, home to an identified 21.3 million tons of lithium hydroxide, including 2.7 million tons of proven and probable reserves. The project also won a FAST-41 priority designation, intended to speed up federal permitting.
The clearest risk surfaced on the call itself. The US Department of Commerce issued a directive that effectively bans the export of black mass, the concentrated metal byproduct of battery recycling, unless a company obtains a specific exception. American Battery Technology has submitted a request for that exception, but as of the call, Commerce had not issued a formal response, and the company is storing black mass at its facility in the meantime.
#company #recycling #black
4 days ago
WASHINGTON, Sept 16 (Reuters) - U.S. retail sales rebounded more than expected in August as households stepped up purchases of motor vehicles and stocked up for the new school year, reinforcing the economy's resilience even as consumers grow more anxious about high inflation.
Retail sales jumped 1.2% last month after a revised 0.5% drop in July, which was the first decline in nine months, the Commerce Department's Census Bureau said on Wednesday. Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, rebounding 0.8% after a previously reported 0.6% drop in July. Estimates ranged from as low as a 0.2% gain to as high as a 1.1% increase.
Last month's increase also partially reflected higher gasoline prices, which lifted receipts at service stations.
Households have continued to spend despite stubbornly high inflation because of the oil price shock and supply chain strains from the U.S.-led war with Iran. Consumers have, however, become more selective and are seeking lower-priced goods. Consumer sentiment deteriorated this month.
Spending is being supported by steady wage growth and recent stock market gains. Households are also saving less and tapping into their nest eggs. The strength in retail sales, together with elevated price pressures and a labor market that is regaining its poise after wobbling through much of summer, further strengthens financial market expectations that the Federal Reserve will raise interest rates later on Wednesday.
#sales #wednesday
Retail sales jumped 1.2% last month after a revised 0.5% drop in July, which was the first decline in nine months, the Commerce Department's Census Bureau said on Wednesday. Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, rebounding 0.8% after a previously reported 0.6% drop in July. Estimates ranged from as low as a 0.2% gain to as high as a 1.1% increase.
Last month's increase also partially reflected higher gasoline prices, which lifted receipts at service stations.
Households have continued to spend despite stubbornly high inflation because of the oil price shock and supply chain strains from the U.S.-led war with Iran. Consumers have, however, become more selective and are seeking lower-priced goods. Consumer sentiment deteriorated this month.
Spending is being supported by steady wage growth and recent stock market gains. Households are also saving less and tapping into their nest eggs. The strength in retail sales, together with elevated price pressures and a labor market that is regaining its poise after wobbling through much of summer, further strengthens financial market expectations that the Federal Reserve will raise interest rates later on Wednesday.
#sales #wednesday
4 days ago
EXCLUSIVE: A Haitian gang member and illegal alien who defiantly told Fox News cameras "I'm not going back to Haiti" and shouted "Biden forever" during his viral U.S. Immigration and Customs Enforcement (ICE) arrest has been deported to Haiti by the Trump administration after spending 19 months in federal custody.
Wisteguens Jean Quely Charles was deported on an ICE flight originating in Louisiana, the Department of Homeland Security (Dhs) confirmed to Fox News.
Sources told Fox News that Charles was extremely combative aboard the aircraft and made crude, profane and threatening remarks about President Donald Trump and his family during the deportation flight.
Dhs Chief Mullin Clashes With Tapper Over Haiti Deportations After Supreme Court Tps Ruling
Haitian illegal immigrant Wisteguens Jean Quely Charles is escorted by federal agents to a plane. Charles was deported by ICE.
#deported #wisteguens #illegal #told
Wisteguens Jean Quely Charles was deported on an ICE flight originating in Louisiana, the Department of Homeland Security (Dhs) confirmed to Fox News.
Sources told Fox News that Charles was extremely combative aboard the aircraft and made crude, profane and threatening remarks about President Donald Trump and his family during the deportation flight.
Dhs Chief Mullin Clashes With Tapper Over Haiti Deportations After Supreme Court Tps Ruling
Haitian illegal immigrant Wisteguens Jean Quely Charles is escorted by federal agents to a plane. Charles was deported by ICE.
#deported #wisteguens #illegal #told
5 days ago
The New York City Health Department has ordered 10 cooling towers in the South Bronx, including one at Yankee Stadium, to be cleaned and disinfected after preliminary testing found the presence of Legionella bacteria as officials investigate a cluster. NBC News medical contributor Natalie Azar discusses how the test was conducted the possible threat level to attendees.
#stadium
#stadium
5 days ago
A police response to reports of a man chasing a woman spiraled into a deadly confrontation when an unrelated knife-wielding man charged an officer through a crowded seaside park in California, chilling new bodycam video shows.
The tense encounter unfolded Aug. 22 as Santa Monica Police Department officers investigated a report of a man chasing a woman near the Broadway stairs, according to a newly released critical incident briefing.
The man killed in the confrontation was identified by the Los Angeles County Department of Medical Examiner as 44-year-old Michael Rodriguez.
Bodycam Shows Los Angeles County Deputy Stabbed Seconds After Arriving At Knife Attack
Bodycam video shows Michael Rodriguez approaching a Santa Monica police officer with a knife raised in Palisades Park Aug. 22, 2026.
#police #knife
The tense encounter unfolded Aug. 22 as Santa Monica Police Department officers investigated a report of a man chasing a woman near the Broadway stairs, according to a newly released critical incident briefing.
The man killed in the confrontation was identified by the Los Angeles County Department of Medical Examiner as 44-year-old Michael Rodriguez.
Bodycam Shows Los Angeles County Deputy Stabbed Seconds After Arriving At Knife Attack
Bodycam video shows Michael Rodriguez approaching a Santa Monica police officer with a knife raised in Palisades Park Aug. 22, 2026.
#police #knife
