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‘A significant moment for the North’: Leaders welcome King’s Speech boost for Northern Powerhouse rail plans

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Scheme would improve links through Manchester Airport and across the North

Concept design for an underground HS2 station at Manchester Piccadilly

Concept design for an underground HS2 station at Manchester Piccadilly(Image: MCC)

Northern leaders have welcomed the latest step towards high speed rail in the North as the Northern Powerhouse Rail (NPR) Bill was announced in the King’s Speech.

The bill will provide powers to boost east-west rail connections across the north in a £45bn programme. Its first phase will involve improving connections on existing lines between Leeds and Sheffield, York and Bradford.

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The second phase will see a new route created between Liverpool and Manchester via Manchester airport and Warrington, using a combination of new and existing lines. And the third and final phase would improve connections eastwards from Manchester to Leeds, Bradford, Sheffield and York.

The scheme would have benefits beyond the North West and Yorkshire, with regular services going to Newcastle via Darlington and Durham, and to Chester for North Wales connections.

The King said: “The United Kingdom’s economic security depends upon world class infrastructure. Legislation will be introduced to unlock the benefits of airport expansion; enable roads to be built at pace including the Lower Thames Crossing; and deliver a fair deal for the North of England through Northern Powerhouse Rail.”

Henri Murison, chief executive of the Northern Powerhouse Partnership, said: “The inclusion of the High Speed Rail hybrid bill to link Manchester Airport to Piccadilly station in today’s King’s Speech is a significant moment for the North.

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“For too long, we have lacked the infrastructure needed to properly connect our major economic centres and support growth across our region. Re-starting legislation paused unnecessarily by the previous government is an important step forward towards changing that.

“A reliable, more frequent and high-capacity rail network across the North will increase areas people can travel to work from, improve access to opportunity and help businesses operate across the region more effectively.

“It also will link not only Liverpool but cities like Leeds, Bradford and Hull better to Manchester Airport, opening up global direct links.

“The key thing now is maintaining this momentum and getting the consenting right so we can move without any more delays into delivery.”

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Chris Woodroofe, managing director of Manchester Airport, said: “Here at Manchester Airport we’re proud to connect the North to the world.

“We’re concluding our 10-year, £1.3bn investment which has given the region a world-class, award-winning airport.

“Not only does it connect the North to more than 200 destinations worldwide, it has immediately available capacity to grow from handling 32m passengers today to 40m by 2030 and beyond to 50m in the longer term.

“We already deliver more than £8bn of economic impact a year, providing thousands of jobs and enabling trade, investment and tourism. But placing Manchester Airport at the heart of a better-connected North will make a major contribution, helping it to operate as a highly productive and globally competitive single economic region.

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“That’s why I’m pleased to see this key step towards realising Northern Powerhouse Rail prioritised in the King’s Speech. Keeping up the momentum on this project is vital if we are to unlock its potential – to be genuinely transformative for people living right across the region.

“We know the industries, the cities, and towns of the North have real strengths and that many rely on access to the world more than most to reach their full potential.

READ MORE: Why a small Northern piece of HS2 could unlock more transport improvementsREAD MORE: Why business must back Piccadilly underground plans: Manchester leaders push ‘transformational’ scheme as they prepare for MIPIM

“Whether that’s life sciences and pharmaceuticals in Liverpool, electrification and battery technology in Sunderland and the North East, fintech and healthcare in Leeds or advanced manufacturing in Sheffield and Rotherham, all these will benefit from being directly connected to the UK’s global gateway in the North.

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“We are looking forward to working with Government and our partners across the region to see this become a reality as soon as possible.”

The King also announced legislation to create Great British Railways, a new public sector body to oversee the rail network.

Mayor of Greater Manchester Andy Burnham said in a written statement: “This is a once-in-a-generation opportunity to overhaul how the railways are run – creating a service that puts passengers first, with more reliable trains and simpler fares and tickets.”

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How Shohei Ohtani helped make New Balance a baseball powerhouse in MLB

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How Shohei Ohtani helped make New Balance a baseball powerhouse in MLB

No matter what he’s doing, the second Shohei Ohtani steps on dirt from the dugout, all eyes are watching the face of Major League Baseball. 

And the foot that touched the dirt has a distinct “NB” written across the cleat. 

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It’s New Balance, the footwear and apparel brand that has grown into one of the most influential names in baseball.

CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COM

Shohei Ohtani and Francisco Lindor for New Balance

Shohei Ohtani and Francisco Lindor are the faces of New Balance Baseball, a sector of the brand that at one point didn’t seem possible. (New Balance / Fox News)

New Balance’s growth in the category is one that reached astronomical heights when Ohtani joined the brand in 2023, becoming a signature face of their baseball team. But New Balance has built a baseball portfolio that includes more perennial All-Star talent, including New York Mets shortstop Francisco Lindor, Seattle Mariners catcher Cal Raleigh, and many more.

So, how does a company known primarily in the running community, and producing footwear commonly referred to as the “dad shoe,” evolve into a baseball staple working alongside the game’s biggest and brightest stars? 

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New Balance’s journey into baseball is a sports business masterclass that centers around a great product, a window of opportunity, and most importantly, staying true to core values in a family-run company.

“RUNNING SHOES ON SPIKES” MENTALITY

In 2011, New Balance recognized their window when looking to break into team sports. Down the road in Boston, the Red Sox, one of the most iconic franchises in MLB, were years removed from their World Series drought and back to their winning ways. 

New Balance understood its strength was high-quality running shoes and performance footwear for the best athletes, as well as the everyday civilian. But Chris Davis, New Balance’s brand president and chief marketing officer and son of owner and chairman, Jim Davis, said the company was confident in itself to start producing what every baseball player needs. 

Comfortable, high-performance cleats. 

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MLB OWNERS AND PLAYERS BEGIN CBA NEGOTIATIONS IN NEW YORK AS SALARY CAP FIGHT LOOMS OVER 2026 SEASON

“Our heritage in running, performance innovation, and craftsmanship gave us a credible foundation to enter the sport with a ‘running shoe on spikes’ mentality,” Davis told FOX Business in an exclusive statement. “We have always seen New Balance as the ultimate challenger brand, a brand that lives at the intersection of sport and culture. Our entry into baseball was not about chasing visibility. It was about bringing the most authentic parts of our brand into a new arena and earning credibility through product, performance, and genuine relationships with athletes.”

Those are the same values that drove New Balance to the top as a global leader in running and lifestyle, and they weren’t going to deviate from the gameplan. And as a privately owned company, New Balance had what competitors don’t: the luxury of patience. 

While running shoes on spikes is the mentality, another New Balance core value with its product is athlete feedback. It’s crucial for the brand, and it knew listening to baseball players would ensure they were making products worthy of a switch away from traditional brands in the space. And the easiest place to look was down that road with the Red Sox, where a certain fan-favorite second baseman ultimately became a foundational piece of the baseball puzzle.

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Dustin Pedroia looks at cleat

Mark Cavanaugh, GM of Team Sports for New Balance, talks to the media as Boston Red Sox second baseman, Dustin Pedroia checks out his custom-made cleat at Fenway Park on Tuesday, September 3, 2013. (MediaNews Group/Boston Herald / Getty Images)

Dustin Pedroia, the 2008 MVP and four-time All-Star, was one of the first New Balance baseball athletes to join on as a partner, and he was the right one to do so. Evan Zeder, New Balance’s senior global director of sports marketing, credited Pedroia with helping set the foundation for what New Balance baseball is today. 

“I think for us as a brand, Dustin was also just obsessed with his product and pushed us in really, really unique ways to make sure that he was always performing at the best,” Zeder, who joined New Balance after the baseball sector began, told FOX Business in a recent interview. “I hear from the product teams and the amount of times they would go back and forth with Dustin to perfect it and tweak where it needed here and there, he was just one of those guys who made us better.”

The back and forth ultimately resulted in Pedroia rocking New Balance cleats at Fenway Park, and as locker room banter went, the word started to spread about the newest cleat on the market amongst the highest of circles. 

“One of the reasons we started baseball was because we knew we were going to make a great, quality product. But we also felt there was an opportunity to win the locker room,” Zeder explained. “I think that’s just as important. … Footwear is equipment and players could care less about perception of a brand if it’s going to make them better.”

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The formal push into baseball came with the early 3000 and 4040 cleat lines aimed at college and minor leaguers, but having players like Pedroia in the mix proved to New Balance that the best in the game want to wear what they’re creating. 

LEBRON JAMES’ AGENT RICH PAUL LAUNCHES NEW BALANCE BRAND

Now, how does it start to land the stars of the future? 

FAMILY AT THE CORE

Before he was wowing fans in Cleveland with his switch-hitting skills, or becoming the new face of the Mets in Queens, Lindor was just a kid from Caguas, Puerto Rico, whose parents went to Al’s Sports Shop to put their son’s baseball equipment on layaway. They made sure their son had what he needed to pursue his passion for the game.

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Family means so much to Lindor. He loves his wife, his three children, his teammates and everyone else in his life. After all, you don’t get the nickname “Mr. Smile” without having that welcoming nature.

When Lindor’s deal was up with Under Armour following Cleveland’s loss in the 2016 World Series, he told some New Balance reps to speak with his agent about a potential next endorsement.

Francisco Lindor smiles on field

Francisco Lindor of the New York Mets reacts after hitting a one-run single in the first inning during the game between the Minnesota Twins and the New York Mets at Citi Field on Wednesday, April 22, 2026, in New York, New York. (Phebe Grosser/MLB Photos / Getty Images)

New Balance had been on his radar thanks to teammate Corey Kluber, who would wear them on the mound during his starts. Lindor also got to see tons of different cleats at the All-Star Game that season. New Balance got the call, and they had a vision for Lindor that didn’t just include adding him to their roster – they wanted him to be the new face of their baseball brand.

“They showed me the vision, they showed me where they were headed, and what their brand was. It was amazing,” Lindor told FOX Business. “On top of that, I think probably to me the thing that got me more interested in the company was how family-oriented they were. I went to Mr. Davis’ car garage, hung out there for a little bit. Then, I got to meet Chris [Davis] and his sister – everybody. To me, that was very unique. 

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“Usually, a lot of companies are very corporate, and you meet the person trying to sign you and that’s it. It felt very family-oriented and that’s kinda how I am. That’s kinda how I live my whole life.”

“I was so proud to hear Francisco describe New Balance as a family, but I was not surprised,” Chris Davis added. “Our conversations are rarely just about baseball. They are about family, friends, style, life, and the fact that we are both proud ‘girl dads.’ That personal connection reflects how we approach our athlete relationships and vice versa.”

Lindor officially signed with the brand in 2017, and that relationship ultimately led to what every professional athlete dreams of having: a signature shoe. It’s where the next evolution for New Balance came, and Lindor played a vital role. 

DESIGNING OUTSIDE THE BOX

Lindor knew when he signed on with New Balance that their bread and butter were “very camo-ish, black and white and grey” colorways for their cleats. That wasn’t his style, and he made sure to express that to the design teams. Like any family, though, compromise and understanding each other’s side is always best, and Lindor appreciated New Balance wasn’t trying to fit him into their previous baseball mold. 

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The Lindor 1 was being built, and Lindor couldn’t believe how much he was involved in the design process. At the same time, New Balance was enthralled by how much Lindor wanted to help design his shoe. 

“I’ve never seen someone more invested and in tune with his product than Francisco, because he not only wants to make sure it’s performing the best, he wants it to shine on the shelf. He gets that part,” Zeder said. 

Lindor added: “I don’t want to be one of those guys that’s, ‘Yeah, I have a signature shoe and don’t know anything about it.’ I love designing, I love creating things, I love fashion, I love colors. I love anything to do with apparel. That was part of the talks. I wanted to be involved in the whole process – I want to be one of your guys.”

Francisco Lindor cleat

Detailed view of the New Balance cleat worn by Francisco Lindor of the New York Mets during the game against the Pittsburgh Pirates at PNC Park on June 9, 2023, in Pittsburgh, Pennsylvania. (Justin Berl/Getty Images / Getty Images)

When the Lindor 1 dropped in February 2021, it was just as colorful as the seafoam green curls he sported on his head at the time. Since then, New Balance has dropped the Lindor 2 and 3, the latter of which blends the brand’s FuelCell running-shoe tech that works in a baseball cleat as well. The colorways continue to be vibrant and unique, while New Balance’s identity shines through in its innovation and attention to detail for the athletes. 

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While Lindor’s signature lines became hot commodities, from Al’s Sports Shop, where his shoes still sit on shelves today, to all over the globe, New Balance didn’t stop there. 

Being on the baseball map, they saw the opportunity to land one of the game’s best players to ever step foot between the lines. The question was whether they could land him.

SHO-TIME

Babe Ruth is one of the most mesmerizing figures in sports history, but even he probably wouldn’t believe his eyes if he saw Ohtani play the game today. In nine years, he’s won four MVP Awards. He became the first player to ever hit 50 home runs while stealing 50 bases in a single season – a feat many believed impossible. Ohtani does all of this while owning a dominant, elite-level arsenal of pitches when he goes out on the mound.

Simply put, there’s no one like Ohtani in baseball, and New Balance fully recognized that when given the chance to speak to him about becoming the new face of their baseball brand.

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“For him, for someone who’s as maniacal about his performance and so obsessive with every little detail, we wouldn’t be in the conversation if we didn’t have the reputation of the product with him,” Zeder said about the opportunity with Ohtani and his representation. 

“Shohei wants to make sure that every detail is dialed in for when he’s out there playing.”

Shohei Ohtani for New Balance

Shohei Ohtani. (New Balance / Fox News)

As Chris Davis put it, “you cannot fake winning in sport,” and New Balance was doing that with its growing group of athletes across the nation. So, Zeder said the conversations with Ohtani ironed out what the brand had in store for someone of his global recognition and superstardom, but also how their product would keep him performing at his expected elite level. 

Ohtani eventually saw New Balance as the right avenue for him, and the multi-year deal was struck in January 2023. It has since expanded to include a personal logo, signature apparel line, and of course, specialized footwear. The Ohtani Signature Collection is the embodiment of what New Balance knew it could achieve in baseball. 

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“He is a once-in-a-lifetime athlete with extraordinary global influence,” Chris Davis said. “However, his fit with New Balance goes far beyond talent. He embodies humility, discipline, excellence, and a team-first mentality, all while carrying himself with a sense of joy and ease that makes him incredibly compelling.”

New Balance’s baseball story is what they pride themselves on, because at the end of the day, what family doesn’t love sharing the best moments of the ones they love?

STORYBOOK BEGINNINGS

For New Balance, marketing strategies don’t just revolve around selling a product. The company wants to tell the story of each athlete they work with, and baseball has provided unique avenues to do so in impactful ways. 

For Lindor, they released “For Queens” in March 2025, highlighting the shortstop’s connection to Mets fans to spotlight his Lindor 2 drop. He took the 7 train, the common mass transit vehicle to get to Citi Field, where he stopped into businesses and interacted with the Flushing community. Even though it was “cold as hell,” as Lindor put it, the end result and the experience was worth it.

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Then, how about Raleigh walking through a rainy Seattle, a common occurrence in the Pacific Northwest, and producing a snapback that read, “When it rains, it dumps” across the front to honor his unique nickname, “Big Dumper,” following his historic 2025 campaign.

No matter the athlete, no matter their status in sport, New Balance wants to tell their story, and do so in a way they know will resonate with specific fan bases. 

Curtis Granderson swings

Curtis Granderson of the New York Mets hits a home run during the game against the New York Yankees at Yankee Stadium on Monday, August 14, 2017, in the Bronx borough of New York City. (Alex Trautwig/MLB)

“We have always viewed our athletes as part of the New Balance family, not simply as endorsers,” Chris Davis said. “They are partners, collaborators, and extensions of the brand – individuals who reflect both our values and our ambition.”

Those stories are also ones that Curtis Granderson, the 16-year MLB veteran, still talks about today. While it may not have been in a snazzy commercial or social media hit, that family nature New Balance has was felt in full force for an MLB All-Star always looking to give back where he could, and was a main reason he signed on with the brand after realizing what they could do outside of providing him comfortable equipment. 

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In 2012, Hurricane Sandy devastated the tri-state area, where Granderson was playing for the New York Yankees. He wanted to help out where he could, and after speaking with schools in the area, he was told the students needed new backpacks that were wrecked or lost in the aftermath of the natural disaster. 

“New Balance was like, ‘Hey, how many backpacks do you need?’ We got the backpacks, and we were able to be in New York that winter to hand out so many backpacks to so many schools. That was one of the first big things we did, and from there, it just continued to scale,” Granderson told FOX Business. 

As Davis said, “When an athlete feels genuinely heard and supported, the relationship becomes rooted in trust and mutual commitment.” Granderson, and many more New Balance athletes, still feel that impact today. 

SWINGING FOR THE FENCES

Did New Balance know that its quiet entrance into America’s Pastime would transform into having athlete representation across every MLB team, and global superstars on its roster of partners, including the face of baseball? Maybe not. 

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But it does know there is still so much more that can be done, as another crop of talented players comes with each passing season. They announced the addition of Red Sox ace Garrett Crochet, and most recently, Chicago Cubs phenom Pete Crow-Armstrong as well. 

There’s also Kansas City Royals’ Jac Caglianone, the franchise’s top prospect who was called up in June 2025 and has been in the big leagues ever since. He’s also been a New Balance cleat-wearer since he was 12, as the multi-width option the brand offered came in clutch. 

Shohei Ohtani cleat with New Balance

The FuelCell Ohtani 1 cleat in his Los Angeles Dodgers colorway. (New Balance / Fox News)

“My problem growing up was I had a really wide foot, and the Nikes, the Adidas, they ran way too narrow for me and they were just uncomfortable,” Caglianone told FOX Business. He and his dad eventually found the cleat for him, and today, he’s a brand partner who understands the significance of being part of a family that houses the game’s best. 

CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COM

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“It’s super special to be able to wear the same shoe that the face of baseball is wearing with Ohtani,” he admitted. “It’s really special. Just the family they’ve created, it’s been a lot of fun.”

And once again, family is brought up. The baseball family at New Balance will continue to grow, and while the brand will never stray away from its staples, including the ol’ “dad shoe,” it knows where staying true to your values and beliefs can get you. 

Like the Babe, New Balance called its shot, and it’s fair to say the ball still hasn’t landed yet. 

Follow Fox News Digital’s sports coverage on X and subscribe to the Fox News Sports Huddle newsletter.

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Fidelity OTC Portfolio Q1 2026 Commentary

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Fidelity OTC Portfolio Q1 2026 Commentary

Fidelity’s mission is to strengthen the financial well-being of our customers and deliver better outcomes for the clients and businesses it serves. With assets under administration of $12.6 trillion, including discretionary assets of $4.9 trillion as of December 31, 2023, Fidelity focuses on meeting the unique needs of a broad and growing customer base. Privately held for 77 years, Fidelity employs more than 74,000 associates with its headquarters in Boston and a global presence spanning nine countries across North America, Europe, Asia and Australia. Note: This account is not managed or monitored by Fidelity, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Fidelity’s official channels.

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Hometown Food Co. expands Chef Boyardee brand

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Hometown Food Co. expands Chef Boyardee brand

The brand now offers boxed skillet meals. 

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Eos Energy Enterprises, Inc. 2026 Q1 – Results – Earnings Call Presentation (NASDAQ:EOSE) 2026-05-13

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

This article was written by

Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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Form 8K Auburn National Bancorporation Inc For: 13 May

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Form 8K Auburn National Bancorporation Inc For: 13 May

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ASA Bans British Beef and Milk Adverts Over Carbon Footprint Claims

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ASA Bans British Beef and Milk Adverts Over Carbon Footprint Claims

British food marketers have been handed a stark warning after the advertising watchdog banned two high-profile campaigns promoting domestic beef and milk, ruling that the carbon footprint claims at their heart could not be substantiated.

The Advertising Standards Authority (ASA) has upheld a complaint brought by Chris Packham, the broadcaster and environmental campaigner, against the Agriculture and Horticulture Development Board (AHDB) over its taxpayer-funded Let’s Eat Balanced campaign. The decision is likely to send a chill through the marketing departments of food producers, processors and trade bodies that have increasingly leaned on green credentials to drive sales.

At issue were two adverts trumpeting British beef as having a “carbon footprint that’s half the global average” and British milk as producing emissions “a third lower than the global average”. Both campaigns referenced the “full lifecycle” of the produce, a phrase that has now proved their undoing.

The AHDB, which is funded by a statutory levy on farmers and growers, argued that consumers would reasonably have understood the figures to relate only to the journey from farm to retail. The board pointed to independent consumer research, commissioned after the investigation began, suggesting the majority of respondents interpreted the adverts in precisely that way.

The ASA disagreed. The regulator concluded that the adverts implied a cradle-to-grave assessment encompassing farming, retail, consumption and disposal, and that the evidence supplied fell short of supporting claims on that basis. The watchdog acknowledged the practical difficulty of producing post-retail emissions data but said that, where environmental claims are made, the burden of proof rests squarely on the advertiser unless caveats are made plain.

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“We acknowledged the potential difficulties in producing post-retail emissions data,” the ASA said in its ruling. “The claims in the ads suggested those emissions were included, and we therefore expected the evidence provided to also include them. We therefore concluded that the evidence presented was insufficient to support the full life cycle claims in the ads, which was how the average consumer was likely to interpret them.”

Mr Packham, the long-standing presenter of BBC’s Springwatch, had also alleged that the adverts misrepresented British beef as typically outdoor-grazed and made claims that could not be substantiated. The watchdog rejected five of his six points, ruling that images of cows in green pastures amounted to a “generic reflection” of British farming rather than a blanket assertion that all cattle live outdoors.

Will Jackson, the AHDB’s director of communications, struck a defiant note in response to the ruling. “Let’s Eat Balanced is doing what it was designed to do, providing clear, factual, evidence-led information about British food, nutrition and farming standards,” he said. He added that the board’s own consumer research “supports our belief that consumers were not misled by the information we shared in these two specific adverts”.

For the wider SME landscape, however, the ruling carries lessons that extend well beyond the farm gate. Small and mid-sized food businesses, from artisan cheesemakers to regional butchers, have increasingly built marketing around lower-carbon, locally produced credentials. The ASA’s intervention signals that broad-brush green claims, particularly comparative ones, will face robust scrutiny regardless of whether the advertiser is a multinational, a government-backed body or a family-run producer.

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The decision also lands at a sensitive moment for British agriculture, which is grappling with the phasing out of EU-era subsidies, mounting input costs and growing consumer pressure on the environmental footprint of meat and dairy. Sector bodies will now need to weigh up whether the marketing benefits of headline carbon comparisons justify the regulatory risk, or whether more conservative, narrowly framed claims offer a safer path.

For marketers across the SME economy, the practical takeaway is straightforward enough. Lifecycle language must be backed by lifecycle evidence; comparative claims must be supported by robust, like-for-like data; and where caveats are required, they must be clear enough that the ordinary consumer cannot reasonably misread them. As the ASA has made plain, the test is not what the advertiser intended to say, but what the average reader took away.


Jamie Young

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

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Wolfspeed Stock Surges 23% on AI Infrastructure Hype and Short Squeeze Momentum

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Wolfspeed Stock Surges 23% on AI Infrastructure Hype and Short

NEW YORK — Wolfspeed Inc. shares rocketed more than 23% in early trading Wednesday, climbing to $66.35 as a bullish research note spotlighting the silicon carbide specialist as a prime AI infrastructure play triggered heavy buying and accelerated a short squeeze in the heavily shorted name.

Wolfspeed Stock Surges 23% on AI Infrastructure Hype and Short
Wolfspeed Stock Surges 23% on AI Infrastructure Hype and Short Squeeze Momentum

The North Carolina-based company, a leader in silicon carbide semiconductors critical for electric vehicles, renewable energy and high-power AI data center applications, has been on a tear since emerging from Chapter 11 bankruptcy last fall with a dramatically cleaned-up balance sheet. Wednesday’s surge extended a seven-session winning streak and pushed the stock to fresh post-restructuring highs.

Analysts at Citrini Research published a note late Tuesday positioning Wolfspeed as one of the clearest “laggard catch-up” opportunities in the semiconductor sector. The report highlighted the company’s fully U.S.-based supply chain, restructured factories optimized for high-efficiency power semiconductors, and accelerating revenue from AI-related demand as key differentiators.

Silicon carbide chips excel at handling high voltages and temperatures with greater efficiency than traditional silicon, making them essential for power-hungry AI servers, data center infrastructure and next-generation EVs. Wolfspeed’s technology addresses exactly the bottlenecks facing hyperscalers racing to deploy massive GPU clusters.

Short interest has remained elevated, with recent data showing more than 57% of the float sold short in some measurements, creating fertile ground for a squeeze. As the stock climbed on the Citrini catalyst, forced covering amplified the move, with volume spiking dramatically in pre-market and early sessions.

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The rally builds on positive momentum from Wolfspeed’s fiscal third-quarter results released May 5. Although the company reported a revenue miss and continued negative gross margins due to factory underutilization, investors focused on forward-looking signals: AI sales up 30%, debt reduction progress, cash reserves near $1.2 billion and strategic refinancing that slashed interest expenses.

Post-bankruptcy leadership changes have also boosted confidence. CEO Robert Feurle and a refreshed executive team have emphasized operational execution, capacity expansion and monetizing tax credits. The company recently received nearly $700 million in IRS refunds under advanced manufacturing investment credits, further strengthening liquidity.

Wolfspeed’s long-term thesis centers on the structural shift toward wide-bandgap semiconductors. Global demand for silicon carbide is projected to grow rapidly as AI energy consumption soars and electrification accelerates. The company’s Mohawk Valley and other U.S. fabs position it to capture domestic content advantages amid supply chain security concerns.

Challenges remain significant. Wolfspeed continues operating with negative margins amid ramp-up costs and underutilized capacity. Competition in the silicon carbide space is intensifying from larger players, and execution on production scaling will determine whether the current enthusiasm translates into sustainable profitability.

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Analysts maintain a range of views. Some see substantial upside if AI tailwinds materialize and margins improve, while others caution about volatility and the stock’s history of dramatic swings. Price targets vary widely, reflecting the high-risk, high-reward nature of the restructured entity.

The broader semiconductor sector has shown selective strength amid AI optimism, but Wolfspeed’s move stands out for its magnitude. Year-to-date, the stock has rebounded dramatically from post-bankruptcy lows, though it remains well below pre-restructuring levels when factoring in massive dilution for legacy shareholders.

Technical traders noted the breakout above recent resistance with expanding volume. Support levels sit near $50-$53 from prior closes, while momentum indicators suggest potential for further upside if buying persists. However, profit-taking or short covering exhaustion could lead to sharp pullbacks given the stock’s volatility.

For investors, Wolfspeed represents a speculative bet on the intersection of AI power demands and domestic semiconductor manufacturing. The company’s ability to convert hype into consistent revenue growth and positive margins will be tested in coming quarters. Upcoming capacity milestones and potential new customer wins could sustain momentum.

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Market watchers will closely monitor whether today’s surge holds through the session or fades as a classic short-squeeze event. With high short interest and fresh AI narrative fuel, Wolfspeed remains one of the more volatile names in the semiconductor space heading into the second half of 2026.

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WhatsApp launches 'incognito' AI chat with private disappearing messages

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WhatsApp launches 'incognito' AI chat with private disappearing messages

A cyber security expert says deleting chat history could lead to a lack of accountability if things go wrong.

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Waitrose Smart Cabinets to Lock Up Champagne and Spirits Amid UK Shoplifting Surge

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Waitrose Smart Cabinets to Lock Up Champagne and Spirits Amid UK Shoplifting Surge

Waitrose is to put bottles of champagne behind locked glass before the end of the year, as the upmarket grocer escalates its fight against an unrelenting wave of shoplifting that has swept through Britain’s high streets.

The John Lewis Partnership-owned chain has told its 50,000-strong workforce of partners that it will pilot so-called “smart cabinets” to protect premium spirits and champagne, marking one of the most striking acknowledgements yet that organised retail crime has begun to reach into the aisles of Britain’s most genteel supermarkets.

The cabinets, already trialled at rivals including Sainsbury’s, typically require shoppers to navigate a multi-step process on a touchpad before the doors will release. Some retailers have gone further, demanding customers scan a loyalty card or enter a mobile telephone number to gain access, creating a digital paper trail that can later be cross-referenced if stock goes missing. The technology can also log how long a cabinet door has been open, flagging suspicious behaviour such as bulk emptying to staff in real time.

Waitrose has declined to disclose the precise mechanics of its own system, but the move comes alongside a broader package of measures: protective “meat nets” wrapped around premium joints, reinforced screens at tobacco counters to deter the increasingly common practice of vaulting kiosks to grab cigarettes, and an expanded rollout of body-worn cameras for staff on the shop floor.

In an internal communication to partners, Lucy Brown, the John Lewis Partnership’s director of central operations, framed the investment as proof that the business was not “standing still” in the face of what she conceded had been characterised as “a tide of retail crime and epidemic of shoplifting”. She acknowledged the frustration felt by staff who watch thieves walk out unchallenged, but warned that intervention was rarely the safer option.

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“It may feel like standing back is us not acting, but this isn’t the case,” Ms Brown wrote, urging partners to resist their “first instinct” to detain suspects or wrestle back stock. Detaining “potentially volatile” individuals in front of other customers, she said, risked escalating an already fraught situation.

The guidance follows a bruising month for Waitrose’s public image. The retailer faced sharp criticism in April after dismissing Walker Smith, a 17-year veteran of the chain, who said he had been sacked for confronting a shoplifter attempting to make off with Easter eggs. The Partnership declined to comment on the specifics, citing employment confidentiality, but said it had followed “the correct process” and pointed to the “serious danger to life in tackling shoplifters”.

Jason Tarry, the John Lewis chairman who joined from Tesco last year, has since written in The Telegraph that the answer to the crime wave was emphatically not to “encourage” workers to take on thieves themselves. Trained security personnel would “intervene to challenge shoplifters”, he said, “but only if they’ve been trained and it’s safe to do so”.

The retreat into hardened technology reflects the scale of the problem confronting British retailers. Industry body the British Retail Consortium has repeatedly warned that shop theft has reached levels not seen in a generation, with the cost to retailers running into the billions and assaults on shop workers rising sharply. For a chain such as Waitrose, whose brand has long traded on a relaxed, customer-trusted shopping experience, the optics of placing Bollinger behind a touchscreen-controlled glass door represent a notable cultural shift.

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A spokesman for John Lewis confirmed the direction of travel: “We are currently investing in a range of advanced technology, including smart technology to deter theft. As part of this we are planning to pilot lockable smart cabinets for areas such as spirits and champagne soon. We already use smart shelf technology in our health, beauty and spirits aisles, which are able to sense unusual customer behaviour, so this would provide an additional layer of security.”

For Britain’s SME retailers, who lack the capital to deploy comparable systems, the message from Waitrose is sobering. If a chain of its size and security spend has concluded that its most prized stock now needs locking up, the implication for the independent off-licence or village convenience store is uncomfortable indeed.


Jamie Young

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

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‘Interest Is Starting to Fizzle Out’ at 100-Day Mark

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TUCSON, Ariz. — A longtime friend of Nancy Guthrie spoke publicly for the first time in weeks Tuesday, voicing deep concern that public and community interest in the 84-year-old’s abduction case is beginning to fade more than 100 days after her disappearance from her Catalina Foothills home.

Lauren Serpa, who has known Nancy for years, told Page Six she fears people are “starting to move on” as the high-profile investigation loses momentum despite ongoing efforts by authorities and the Guthrie family. Her comments mark a notable break from reports that Nancy’s inner circle had been asked to remain silent while law enforcement pursues leads.

“People are starting to move on basically. That’s what happens when it doesn’t affect their lives,” Serpa said in the interview published May 12. “So that’s why I’m trying to keep it in the forefront as much as possible.” She added that even in Tucson, where the case has gripped the community, local attention is “starting to fizzle out.”

Nancy Guthrie was reported missing Feb. 1 after failing to show up for a planned church service viewing with friends. Security footage captured a masked individual tampering with her doorbell camera the night before. Blood was found on the porch, and authorities believe she was abducted. A Bitcoin ransom demand followed but led nowhere.

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The family offered a $1 million reward, later joined by the FBI’s $100,000. Savannah Guthrie, co-anchor of NBC’s “Today” show and Nancy’s daughter, has maintained a low public profile on the investigation while continuing her work. On Mother’s Day, she shared an emotional tribute pleading for information: “We will never stop looking for you.”

Reports earlier in May suggested the Guthrie family had asked Nancy’s close friends, including church acquaintances who first raised the alarm, to refrain from public statements to avoid interfering with the probe. NewsNation’s Brian Entin reported multiple sources confirming the request, noting it differed from other missing persons cases where friends often speak out early.

Serpa’s decision to speak out comes as the case enters its fourth month with no arrests and limited public updates. Pima County Sheriff Chris Nanos provided a 100-day briefing recently, describing the investigation as active with DNA analysis continuing across labs and tips still being pursued. He expressed cautious optimism, saying authorities are “getting closer,” though no suspects have been named publicly.

Tensions between local authorities and the FBI surfaced earlier, with reports that Sheriff Nanos initially preferred a private lab for key evidence including a glove and DNA samples. The sheriff denied blocking federal involvement, emphasizing ongoing collaboration. A strand of hair not belonging to family or known associates was sent for advanced testing, but results have not been publicly detailed.

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Serpa highlighted the emotional toll on Nancy’s loved ones and the Tucson community. She described Nancy as vibrant and independent, expressing frustration that the case risks slipping from public consciousness. “Even in Tucson where it happened, it’s starting to fizzle out, and I don’t want that to happen,” she said. “It’s been 100 days, and people are starting not to forget, but not to think about it as much.”

Volunteer groups, including the United Cajun Navy, have offered assistance but reported limited involvement. Neighborhood patrols increased early on, but sustained momentum has waned. Digital evidence, enhanced video from nearby homes showing masked figures, and property record checks have been part of the multi-agency effort.

Kidnapping survivor Elizabeth Smart weighed in recently, stating she believes Nancy could still be alive and urging continued focus. “She could absolutely still be alive,” Smart said, drawing from her own nine-month ordeal. Such comments provide a glimmer of hope amid the grim milestone.

The case has drawn national attention largely due to Savannah Guthrie’s prominence. Savannah has occasionally stepped away from “Today” duties, including a recent mid-show departure, fueling speculation about her involvement behind the scenes. She continues hosting and recently agreed to host a Wordle game show pilot.

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Public tips continue flowing to the FBI and sheriff’s office, though officials have asked residents to avoid clogging lines with well-wishes. A new message regarding the case prompted a joint statement from authorities in recent days, though details remain limited.

Serpa’s interview underscores a common challenge in long-term missing persons cases: maintaining visibility as media cycles shift. She emphasized Nancy’s supportive Tucson network but worried broader awareness is declining. Her willingness to speak breaks the reported silence and could reinvigorate attention.

Investigators continue analyzing forensic evidence, including potential genealogy leads from the unidentified hair. No new surveillance footage or suspect descriptions have been released recently. The Bitcoin ransom aspect adds complexity, as cryptocurrency transactions are traceable but often lead to dead ends without additional context.

For the Guthrie family, each day without resolution deepens the anguish. Savannah’s Mother’s Day post reflected both love and determination: prayers and the $1 million reward remain active incentives for information. The family has not publicly commented on Serpa’s remarks or the reported request for silence.

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Legal and true crime experts note that family requests for privacy can protect sensitive details but risk reducing tips. Serpa’s decision to speak may reflect growing frustration with the pace while respecting the investigation’s needs.

As summer approaches, the case risks further fading from headlines unless new developments emerge. DNA processing timelines can stretch months, and without a clear suspect, the probe relies heavily on public eyes and ears. Serpa’s plea serves as a reminder that Nancy remains a beloved community member deserving of sustained focus.

The abduction has heightened awareness of elder safety in suburban areas. Catalina Foothills residents report increased vigilance, though fear of an unidentified perpetrator lingers. Authorities urge anyone with information to contact the FBI anonymously.

Nancy Guthrie’s story continues to captivate and frustrate. Serpa’s rare public comments inject fresh urgency at a critical juncture, hoping to prevent the case from slipping into the background as days turn into months. For her friends and family, the fight to bring Nancy home remains unrelenting.

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