We hear how a childhood in Guatemala, a fascination with computers and a belief that education should be accessible to everyone helped inspire the world’s most popular learning apps. Luis von Ahn tells us how he went from creating CAPTCHA and selling reCAPTCHA to Google, to building Duolingo into a multi-billion-dollar education technology company used by millions around the world.
He reflects on his mother’s sacrifices to fund his education, the lessons he learned as an entrepreneur, and why he struggles with conflict in his life as a tech CEO.

Presenter: Leanna Byrne
Producer: Amber Mehmood

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Despite the fall EY directors say there remain reasons for optimism in the North East

The North East has seen its biggest drop in foreign direct investment (FDI) projects in a decade, new research has shown. New research from accountancy firm EY shows the region chalked up 22 inward investment projects last year – a 48% year-on-year fall and the region’s lowest total across the last decade.

The figures come in the latest EY UK Attractiveness Survey, with ranked 259 regions across Europe according to the number of FDI projects each attracted in 2025. The region’s year-on-year fall in foreign direct investment meant that its overall share of UK projects fell from 4.9% in 2024 to a decade-low of 3% in 2025.

Business and professional services was the sector that drove the North East region’s highest volume of FDI projects in 2025, with a total of five. The finance, software and IT services, and transportation manufacturers and suppliers sectors were joint-second with a total of three projects each.

Meanwhile, Newcastle was ranked the UK’s sixth best-performing city outside London for securing FDI projects with a total of 11, in line with last year’s ranking despite projects falling marginally from 13 in 2024. The majority of UK regions saw FDI projects fall year-on-year in 2025, with just Greater London (5%), Wales (56%) and Northern Ireland (65%) seeing increases. The South West saw projects stagnate year-on-year, while all other regions saw a decline.

Investment in the region was led by business services and manufacturing activities, but the number of jobs created by FDI projects fell to 998, down by a significant 47% from the 1,864 recorded in 2024. The region was ranked 11th in the UK for FDI-related employment last year, with the North East securing 3.5% of total UK FDI-related employment, down from 4.9% in 2024.

A breakdown of activity revealed that there were six business services projects, followed by five within manufacturing and three in logistics. A key indicator of a region’s ability to draw in fresh investment is in the number of ‘new’ projects chalked up, as opposed to re-investments or extensions.

In 2025, the North East recorded 10 new projects, down 55% from 2024, when 22 projects were recorded. As a result, the UK market share for new projects secured by the North East decreased to 2.1% in 2025, down from 4.1% the previous year. Despite the fall, EY directors remained cautiously optimistic – but warned over the widening gap between London and the regions.

Michael Scoular, EY Newcastle office managing partner, said: “There remain reasons for optimism in the North East, including the fact that Newcastle has retained its position among the top 10 UK cities for attracting inward investment, and that the region was still able to secure several high-value projects creating more than 100 jobs each in 2025. “However, the decline in FDI projects in the North East last year was more pronounced than in any other UK region, which emphasises the need for improvement.

“There is undoubtedly a need for resilience and innovation in boosting the North East’s attractiveness as a destination for foreign investment. EY’s investor sentiment survey highlighted access to skilled workforces, robust local transport and infrastructure and access to regional grants and incentives as top priorities for global investors when considering locations outside of London – which should all be key considerations for the region going forward.

“The regional gap between London and the rest of the UK has widened, so it’s crucial that the North East builds on its industrial strengths and heritage as well as capitalising on emerging opportunities around technology, Artificial Intelligence (AI) and future talent to increase its competitiveness both nationally and globally.”

Shares of Xero Limited rose 8.29% to $70.39 on Wednesday, recovering from a steep, multi-day decline that had pushed the New Zealand-based accounting software company well below its 52-week high amid broader weakness across ASX-listed technology stocks.

A Difficult Recent Stretch

The rebound came after a notably rough run for the stock heading into Wednesday’s session. The Xero Limited stock price fell by 4.54% on Monday, June 22, from $71.88 to $68.62. The price had fallen in eight of the last ten trading days and was down 13.44% over that period. A sell signal was issued from a pivot top point on Tuesday, June 2, 2026, and the stock had fallen more than 21% from that level by the time it bottomed out.

The scale of the recent pullback becomes clearer when measured against where the stock stood just a year earlier. Xero reached its all-time high on June 24, 2025, with a price of 196.52 Australian dollars. The stock’s current trading level represents a fraction of that peak, reflecting a sharp and sustained reversal in investor sentiment toward the company over the past 12 months.

Part of a Broader ASX Technology Selloff

Xero’s struggles have not occurred in isolation, with several other prominent ASX-listed technology names suffering similarly steep declines during the same recent stretch. WiseTech Global Limited fell 4.39% in the same session that saw Xero decline sharply, while Technology One Limited dropped 7.10%, Life360 fell 3.67%, and SiteMinder declined 5.96% — illustrating a broad-based retreat across Australia’s technology sector rather than a problem isolated to Xero specifically.

Beyond the broader sector weakness, Xero’s own recent financial results have also weighed on sentiment. XRO earnings for the last half-year came in at 0.10 Australian dollars per share, whereas the estimation was 0.49 Australian dollars, resulting in a 79.48% negative surprise. Net income for the last half-year was 28.12 million Australian dollars, compared to 123.41 million Australian dollars in the previous reporting period — a substantial decline that likely contributed meaningfully to the stock’s recent downward pressure heading into this week.

What the Company Actually Does

Xero Limited, together with its subsidiaries, provides online business solutions for small businesses and their advisors in Australia, New Zealand, the United Kingdom, the United States, and internationally. It offers accounting, payroll, payments, and other solutions through its Xero platform. The company also provides Planday, an online employee scheduling software; Hubdoc for bills and receipts; Syft, which creates reports, forecasts, dashboards, and consolidations with AI insights; Melio, a platform for paying bills, sending invoices, and automating accounts payable and receivable workflows; TaxCycle, tax preparation software for accountants and bookkeepers; and Tickstar, an e-invoicing product.

Xero Limited was founded by Rodney Kenneth Drury and Hamish Edwards on July 6, 2006, and is headquartered in Wellington, New Zealand. The company’s products are based on the software-as-a-service model and sold by subscription, based on the type and number of entities managed by the subscriber, with its products used in over 180 countries worldwide.

A Sizable but Shrinking Market Capitalization

The company’s overall market value has contracted noticeably alongside the recent share price weakness. Xero’s market capitalization stands at approximately 11.70 billion Australian dollars, having decreased by 2.39% over the prior week alone, reflecting the cumulative effect of the stock’s recent multi-day losing streak.

Unlike some of its more established technology peers, Xero has historically reinvested its earnings into growth rather than returning cash to shareholders through dividends. As of yet, the company has not paid out any dividends since its debut on the ASX on November 8, 2012.

Technical Indicators Had Turned Negative Before the Bounce

Ahead of Wednesday’s rally, technical analysis services had grown increasingly cautious on the stock’s near-term prospects. The Xero Limited stock held sell signals from both short and long-term moving averages, giving a more negative forecast for the stock heading into the week, with one analysis downgrading its rating on the stock from a Hold to a Sell candidate due to the weakening technical picture.

Some technical analysts have pointed to a specific historical price level as a key area to watch for the stock’s longer-term trajectory. The monthly chart shows that XRO has returned to a massive structural support zone dating back to 2019-2020, a “full circle” correction that has reset the technicals and could allow for a long-term swing trade toward higher levels if that support holds.

A Historic Multi-Year Rally Preceded the Recent Decline

Despite the stock’s recent struggles, Xero’s longer-term track record includes one of the more dramatic rallies among ASX-listed technology companies in recent history. Xero experienced a significant rally from June 2018 to February 2021, climbing 243% from around $46 to $158 over a span of 126 weeks — a run that helped establish the company as one of the standout growth stories on the Australian exchange before the more recent reversal.

Despite the earnings miss, the company’s underlying operating metrics show a business that remains profitable on an EBITDA basis, even amid the broader share price volatility. Xero’s EBITDA stands at 664.70 million Australian dollars, with a current EBITDA margin of 27.36% — figures that suggest the core business continues generating meaningful operating income even as net income has come under pressure in the most recent reporting period.

With Xero’s next earnings report scheduled for November 12, 2026, investors will have an extended window to assess whether the recent earnings miss and broader technology sector weakness prove to be a temporary setback or the start of a more sustained decline in the company’s growth trajectory. Given the stock’s significant distance from its all-time high reached almost exactly a year ago, and with technical indicators only recently turning more cautious before Wednesday’s rebound, Xero’s near-term trajectory will likely remain closely tied to broader sentiment across the ASX technology sector as well as any further updates on the company’s underlying subscriber growth and profitability metrics in the months ahead.

President Donald Trump claimed energy companies are engaging in fuel price gouging and said that he has ordered the U.S. Justice Department to investigate.

“The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil. Those prices are dropping like a rock! In other words, customers are being ‘gouged,’” Trtump asserted in a Truth Social post.

“I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what I’m seeing!” he declared.

OIL TANKER TRAFFIC THROUGH STRAIT OF HORMUZ HITS HIGHEST LEVEL SINCE CONFLICT BEGAN BUT MINES REMAIN

U.S. President Donald Trump gestures as he boards Air Force One to depart Reading Regional Airport on June 23, 2026 in Reading, Pa. (Andrew Harnik/Getty Images / Getty Images)

Americans have been facing higher fuel prices during the Iran war.

The AAA national average for regular gas is $3.928 as of June 24, down from the month-ago average of $4.515, though still significantly higher than the year-ago average of $3.224.

INFLATION ROSE AGAIN IN MAY AS ELEVATED ENERGY PRICES SQUEEZE CONSUMERS

Fuel prices on a pump at a Chevron gas station in Bay Harbor Island, Fla., on Monday, June 22, 2026.  (Zak Bennett/Bloomberg via Getty Images / Getty Images)

WTI crude oil futures are around $71 as of Wednesday morning, but were even lower before the start of the war. 

U.S. crude closed at $73.21 Tuesday, only $6.19 more than the day before America attacked Iran earlier this year, NBC News reported.

TRUMP VISITS MACK TRUCKS PLANT IN BATTLEGROUND PENNSYLVANIA DISTRICT TO TOUT ECONOMIC AGENDA AS MIDTERMS LOOM

U.S. President Donald Trump takes questions from members of the media during a meeting with oil and gas executives in the East Room of the White House on Jan. 9, 2026 in Washington, D.C.  (Alex Wong/Getty Images / Getty Images)

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Trump signed a Memorandum of Understanding related to Iran last week.

NEW YORK — Shares of Elevra Lithium Ltd. climbed sharply Tuesday as the lithium producer reported robust quarterly revenue growth and continued progress on its North American expansion plans amid recovering demand for battery materials.

The stock traded at $11.47, up 8.11 percent or 86 cents, in morning activity. The gains reflected investor optimism about the company’s operational performance and strategic positioning in the critical minerals sector.

Elevra Lithium, listed on the ASX as ELV and with NASDAQ trading under ELVR, delivered record revenue of $81 million for the March 2026 quarter, representing a 22 percent increase from the previous period. Year-to-date revenue reached $167 million, demonstrating strong momentum in its core operations.

The company has focused on its North American Lithium project, where production has ramped up significantly. Recent updates highlighted improved plant utilization and cost reduction initiatives that are helping drive profitability. Management has reaffirmed production guidance for 2026.

Elevra’s strategy centers on supplying the growing electric vehicle and energy storage markets. Lithium remains essential for battery technology, with demand expected to rise as global electrification accelerates despite short-term price volatility in commodities.

Operational Highlights

The March quarter report showed continued operational improvements at key assets. Elevra has emphasized efficiency gains and output increases at its flagship North American Lithium facility. Production growth has been a priority as the company scales commercial operations.

In recent months, Elevra announced the purchase of offtake rights for the Moblan project, securing additional supply chain leverage. The company also reached an agreement to sell its interest in the Ewoyaa Lithium Project in Ghana, streamlining its portfolio toward higher-priority North American assets.

An updated scoping study for the North American Lithium expansion outlined faster growth timelines and lower costs. The plan positions Elevra to capitalize on North American supply chain localization trends driven by policy incentives and battery manufacturing investments.

Analysts have noted the company’s transition toward profitability. With confirmed 2026 production targets and cost discipline, Elevra appears well-placed for margin expansion as lithium markets stabilize.

Market Context and Industry Trends

The lithium sector has faced challenges from oversupply and softening prices in recent years. However, long-term fundamentals remain strong due to electric vehicle adoption and renewable energy storage needs. North American producers like Elevra benefit from proximity to major battery plants and supportive government policies.

Elevra’s dual listing provides access to both Australian and U.S. investors. The NASDAQ presence enhances visibility among institutional investors focused on critical minerals and clean energy themes.

Recent quarterly activities reflect disciplined capital allocation. The company reported capital expenditures of $4 million in the period, focused on maintenance and targeted growth initiatives. Strong cash flow generation supports ongoing operations and potential debt reduction.

Financial Performance

Elevra has shown significant revenue growth. The March quarter results marked a substantial improvement over prior periods, with year-to-date figures underscoring the impact of higher production volumes and stable pricing environments.

Forward earnings estimates suggest potential profitability inflection in 2026. Analysts project steady revenue increases as expansion projects come online. Valuation metrics reflect growth expectations, with the stock trading at levels that incorporate anticipated production ramps.

The company maintains a solid balance sheet position. Operational cash flows have improved with higher output, providing flexibility for investments and shareholder returns over time. Management continues focusing on cost control and efficiency.

Strategic Initiatives

Elevra has pursued several key transactions to optimize its asset portfolio. The sale of the Ewoyaa interest provides capital for core North American development while reducing exposure to African jurisdictional risks. The Moblan offtake acquisition secures additional concentrate supply.

Expansion at North American Lithium remains central to growth plans. The updated scoping study indicates potential for accelerated timelines and reduced capital intensity, improving project economics. These developments support Elevra’s goal of becoming a leading North American lithium supplier.

The company continues engaging with offtake partners and battery manufacturers. Long-term contracts provide revenue visibility and align production with downstream demand. Elevra’s North American focus positions it favorably for U.S. and Canadian EV supply chains.

Analyst Perspectives

Wall Street views on Elevra have been generally constructive. Macquarie and other firms have provided ratings and price targets reflecting confidence in operational execution and market recovery. Recent updates have included target adjustments based on production milestones.

Investors have responded positively to quarterly results and strategic moves. The stock has shown volatility typical of the lithium sector but has demonstrated resilience on positive news flow. Market capitalization stands in the range supporting further institutional interest.

Risks include commodity price fluctuations, execution challenges on expansions, and broader economic factors affecting EV adoption. Elevra’s management has emphasized disciplined operations to navigate these uncertainties.

Elevra Lithium enters the second half of 2026 with momentum. Strong quarterly revenue, production growth, and strategic portfolio adjustments provide a foundation for continued progress. The company remains focused on delivering on 2026 guidance and positioning for long-term growth in the lithium sector.

As global demand for battery materials evolves, producers with North American assets and strong operational track records stand to benefit. Elevra’s recent performance suggests it is well-prepared to capitalize on these opportunities.