TORONTO — Xanadu Quantum Technologies Ltd. shares have skyrocketed nearly 195 percent year-to-date as of mid-April 2026, turning the newly public photonic quantum computing pioneer into one of the hottest — and most volatile — names in a sector still years from widespread commercial payoff.
Xanadu Quantum Stock Surges 194% YTD: Buy the Photonic Computing Hype or Sell Before Reality Bites in 2026?
The stock, trading under the ticker XNDU on both Nasdaq and the Toronto Stock Exchange, closed recently around $25 after a roller-coaster debut in late March. It opened its first trading day near $10, popped as high as $28 in early sessions, and has since delivered eye-popping gains fueled by quantum sector excitement, fresh capital from its SPAC merger and technical milestones in error-corrected qubits. Yet with a market capitalization hovering near $650 million to $8.5 billion depending on share class calculations, thin revenues and massive cash burn, analysts and investors are sharply divided on whether to buy more shares or lock in profits before the long road to fault-tolerant quantum computers tests market patience.
Xanadu went public on March 27, 2026, following shareholder approval of its business combination with blank-check company Crane Harbor Acquisition Corp. The deal brought in approximately $302 million in gross proceeds, including a $275 million PIPE financing that drew participation from semiconductor giant AMD and Canadian institutional investors. The transaction valued the combined entity at about $3.1 billion pro forma enterprise value, with roughly $455 million in net cash at closing assuming minimal redemptions.
The listing made Xanadu the first pure-play photonic quantum computing company on major exchanges, a distinction the company has leaned into heavily in investor presentations. Unlike superconducting or trapped-ion approaches pursued by competitors such as IBM or IonQ, Xanadu’s platform relies on photons — particles of light — processed through silicon chips and integrated photonics. Proponents argue this approach offers advantages in scalability, room-temperature operation and networking potential for distributed quantum systems.
Chief Executive Christian Weedbrook, who holds a reported 51.8 percent stake, has positioned the company around a multi-year roadmap targeting fault-tolerant quantum systems by 2029-2030. In its fourth-quarter and full-year 2025 results released April 9, Xanadu highlighted progress on its Aurora modular photonic quantum computer, a 60 percent reduction in optical loss, and demonstration of 12 logical Gottesman-Kitaev-Preskill (GKP) qubits with real-time error correction. The company also announced 10 new strategic partnerships across hardware, manufacturing, supply chain, research and commercial applications.
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Additional tailwinds include government support. Xanadu is participating in Canada’s Quantum Champions Program and a potential C$390 million funding package for Project OPTIMISM, as well as DARPA initiatives. Earlier partnerships with Mitsubishi Chemical produced breakthrough quantum algorithms for extreme ultraviolet lithography used in next-generation semiconductor manufacturing, while collaboration with AMD aims to accelerate hybrid quantum-classical computing for aerospace and engineering.
Yet the financial picture remains that of a pre-revenue growth story. Full-year 2025 revenue stood at roughly C$3.45 million, while net losses reached C$58.49 million. The company entered 2026 with a strengthened balance sheet thanks to the SPAC proceeds, which management says will fund manufacturing scale-up, expansion of its open-source PennyLane software platform and continued R&D. PennyLane has become a standard tool for quantum machine learning, used by nearly half of global quantum developers.
The quantum computing sector as a whole has struggled in 2026 despite high-profile listings. Many stocks in the space have underperformed broader markets amid skepticism over near-term monetization. Xanadu’s own post-debut trading reflected that volatility: shares experienced wild swings on day one, briefly sinking before rebounding, and have continued to show sharp daily moves typical of speculative technology names.
Analysts remain cautious about assigning formal price targets, with limited Wall Street coverage so far. Some observers note that while Xanadu’s photonic approach and software ecosystem provide differentiation, the path to useful, fault-tolerant quantum advantage — where quantum machines solve problems intractable for classical supercomputers — could still take years. Commercial revenue may initially come from cloud access to its systems, hybrid quantum-classical applications in chemistry and materials science, and partnerships rather than outright hardware sales.
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For investors considering a position, the bull case rests on several factors. The fresh capital runway reduces immediate dilution risk. Technical milestones in error correction and modular architectures suggest steady progress toward scalability. Growing interest from governments and large industrials in quantum for cybersecurity, drug discovery and optimization could accelerate adoption. AMD’s involvement and Nvidia ecosystem ties add credibility in the broader AI-hardware narrative, as quantum may one day complement classical computing for specific workloads.
The bear case is equally compelling. Quantum computing remains capital-intensive with long development timelines and high technical risk. Xanadu faces competition from better-funded players and established tech giants. Current revenues are negligible compared with the lofty valuation, implying investors are paying a steep premium for future potential. Any delays in milestones, regulatory hurdles around quantum encryption standards or broader market rotation away from speculative tech could trigger sharp pullbacks. Repair costs for specialized photonic hardware and talent retention in a competitive field add operational challenges.
Short interest stood at around 345,000 shares as of late March, relatively modest but indicative of some skepticism. Beta near 0.45 suggests the stock has not yet moved in perfect lockstep with broader markets, though that could change as trading volume increases and more institutions build positions.
Broader context matters. Quantum stocks often trade on narrative and milestone news rather than traditional fundamentals. Xanadu’s April 2026 analyst day at the Nasdaq MarketSite generated strong engagement, according to the company, helping sustain momentum. Yet with the sector still in the “hype versus reality” phase, disciplined position sizing is essential.
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Retail investors drawn to the story should weigh personal risk tolerance carefully. Those bullish on quantum’s long-term disruption potential may view dips as buying opportunities, especially given the post-listing cash position. More conservative investors might wait for clearer revenue traction, additional government contracts or proof points on error-corrected qubit scaling before adding exposure.
For existing holders, the decision to sell some shares could depend on portfolio construction. Locking in partial gains after the massive YTD run reduces downside while keeping skin in the game for potential upside catalysts such as new partnerships, further technical breakthroughs or inclusion in quantum-focused exchange-traded funds.
As April 2026 progresses, Xanadu’s management will likely provide more color on capital allocation, manufacturing facility plans and commercial pipeline during upcoming earnings calls or investor events. The company has emphasized building quantum computers that are “useful and available to people everywhere,” a mission that resonates with both scientific and commercial audiences.
Ultimately, buying or selling Xanadu stock in 2026 comes down to time horizon and conviction in photonic quantum’s edge. Short-term traders may continue to ride volatility around news flow. Long-term believers in quantum computing’s transformative power could see the current valuation as reasonable entry given the de-risking provided by public listing and partnerships. Skeptics will point to historical precedents of early-stage tech valuations that soared before crashing when commercialization lagged expectations.
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With roughly $455 million in net cash and a clear technology roadmap, Xanadu enters its public life with more resources than many quantum peers. Whether that capital translates into sustained shareholder value will depend on execution over the coming quarters and years — a high-stakes bet in one of the most exciting yet uncertain frontiers of computing.
Investors should monitor upcoming filings, technical updates and sector sentiment closely. In a year already marked by quantum listings and volatility, Xanadu stands out as both a pioneer and a reminder that revolutionary technology often requires revolutionary patience — and carries revolutionary risk.
IT services major Wipro on Thursday announced a Rs 15,000 crore share buyback at Rs 250 per share, offering a 19% premium over the stock’s last closing price. The share buyback marks the first such action announced by the IT major in nearly three years.
Wipro’s board approved the plan to buy back up to 60 crore shares, representing 5.7% of the total paid-up share capital, for an aggregate amount not exceeding Rs 15,000 crore.
The buyback will be done via the tender route, and all shareholders on the record date, including those who received the equity shares after cancelling their American Depository Receipts (ADR), will be eligible to take part in the corporate action.
Wipro said that promoters and promoter groups have indicated their intention to participate in the proposed buyback. The record date and other timelines will be announced soon
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Wipro Q4 earnings
Wipro announced the share buyback along with its earnings for the January-March quarter of the financial year 2026. The IT major’s consolidated net profit declined 2% YoY to Rs 3,502 crore during the period under review, while revenue from operations increased 8% YoY to Rs 24,236 crore. However, Wipro’s core IT services segment showed limited traction. Revenue stood at $2.65 billion, growing just 0.6% quarter-on-quarter and 2.1% year-on-year. On a constant currency basis, IT services revenue rose 0.2% sequentially but declined 0.2% on an annual basis, highlighting weak underlying demand.
Wipro share price
Wipro shares rose marginally to close at Rs 210.26 apiece on NSE on Friday. The stock has gained around 4% in one week and 8% in one month, but declined by over 21% in 2026 so far following the sharp AI worries and Iran-US war-led selloff. Buyback of shares refers to a corporate action where a company repurchases its own shares from the existing shareholders. Usually, the company purchases the shares at a higher price than the current levels, encouraging investors to participate. Typically, a company decides to buy back its shares in order to increase share value, utilise surplus cash, prevent hostile takeovers or increase promoter holdings.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
The biggest American automakers all but abandoned sedans and coupes in recent years as they rushed to compete in the pickup truck and SUV markets.
Many domestic buyers also shifted toward those bigger vehicles. Still, there’s a market for cars, as Japanese, Korean and German brands sell hundreds of thousands of smaller passenger vehicles in the U.S. annually.
The resilience of the sedan market and concerns that high prices are driving away customers have led some American automakers to reconsider their lineups.
With the average price for a vehicle hovering around $50,000, a compact sedan that starts at about $22,000 is an attractive entry point for buyers, industry experts said.
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“It’s all about affordability,” said Orth Hedrick, vice president of product planning for Kia USA. Kia’s K4 compact sedan and its predecessor, the Kia Forte, together were the brand’s second-bestselling vehicle last year, accounting for 140,514 units sold. “It’s just been doing phenomenally well for us. Way over plan, and a lot of it is affordability.”
Similarly, the RAV4 crossover SUV is Toyota’s bestseller, reaching 479,288 units sold in 2025. The automaker also moved 316,000 Camrys and nearly 250,000 Corollas last year, or 65% and 51% of the SUV’s sales, respectively.
“There is opportunity for sedans to offer an alternative to the sea of SUVs, and they are typically less expensive than an SUV in the same size class,” said Stephanie Brinley, associate director, AutoIntelligence, for S&P Global Mobility. “Sedans do offer more opportunity for compelling design and they are typically more fuel efficient than utility vehicles.”
Industry watchers, dealers and automaker executives have publicly expressed concerns that high vehicle prices and rising fuel costs could cause buyers to pull back or increasingly turn to used cars.
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Indeed, Volkswagen said it has kept its Jetta sedan in its lineup for 45 years in the U.S. as an affordable entry point. The brand showed off a newly refreshed version of its full-size Atlas SUV at the New York International Auto Show in early April. But it also had its compact car, Jetta — and two higher-trim versions of the Golf hatchback — on the show floor as well.
“Jetta is one of our most important nameplates,” said Petar Danilovic, senior vice president of North American product marketing for Volkswagen. “Every car has a different role in the portfolio. And the Jetta, for example, is of course important to also attract entry customers. So hopefully to be able to grow them in the brand from a Jetta maybe to a Tiguan to an Atlas. So this is also the logic behind it.”
“Affordable options are essential for bringing newer and younger buyers into a brand,” said Rebecca Lindland, a managing director at Allison Worldwide. “Many Gen Z and younger Millennials simply can’t, or don’t want to, stretch to the typical SUV or crossover payment.”
SUVs have been growing in popularity for decades and shot up in popularity in the 2010s, while sales of smaller cars shrank. Sedans were almost 40% of the market in 2015, according to Edmunds. As of 2026, they were only 15%, according to the auto site.
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The SUV offered a lot of those buyers a change from the cars they were familiar with. Now, their rarity might be giving sedans the same effect.
“A lot of it is this new generation that grew up in the back seat of an SUV,” Hedrick said. “They don’t want to drive an SUV. They like something different. So to them, a sedan is new. For the rest of us who grew up with sedans all the time, it’s old hat. But for new buyers, they like the look. They like the idea of doing something different.”
American automakers
Despite their pullback, American automakers still make a few sedans and coupes.
General Motors’ luxury brand Cadillac is discontinuing the CT4 sedan in 2026. The larger CT5 will leave the market temporarily, but will return, the company confirmed in an email.
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GM also makes the high-end Corvette sports coupe.
A report from Automotive News, citing an anonymous source, said GM is planning to build a Buick sedan in a Michigan plant. GM spokesperson Kevin Kelly told CNBC in an email the company does not comment on product plans.
“We don’t see sedans recovering a decade-old heyday,” Brinley said, “but getting back into the segment may be a good move for GM and others considering the opportunity.”
Ford’s only traditional silhouette is the Ford Mustang, which many insiders — including CEO Jim Farley — have called the “soul of the company,” despite the fact that the F-150 pickup truck is its biggest seller by far and the Mustang is outsold by most of Ford’s SUVs. Still, it’s the best-selling coupe in the U.S. as of April 2026, according to Edmunds.
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Farley said at the Detroit Auto Show that the company would “never say never” to bringing back more traditional passenger cars.
Stellantis‘ Dodge currently makes the Charger sedan in two- and four-door configurations.
The best-selling sedan by an American automaker is the Tesla Model 3, according to Edmunds. It’s the only sedan Tesla makes now that it has discontinued the full-sized Model S.
Electric vehicle maker Lucid Motors also makes the high-end Lucid Air sedan, but is planning a midsize SUV for its next product.
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Others say they aren’t giving up on the segment.
“Obviously, the industry has moved towards SUVs and light trucks away from passenger cars,” Dave Christ, group vice president and general manager at Toyota Motor North America, said. “But we still believe in passenger cars, so we’re going to continue to invest in passenger cars. Even if the industry is 20% passenger cars, that’s over 3 million cars a year.”
Pluxee N.V. (PLXNF) Q2 2026 Earnings Call April 16, 2026 2:30 AM EDT
Company Participants
Pauline Bireaud – Head of Investor Relations & Financial Communication Aurélien Sonet – Chief Executive Officer Stephane Lhopiteau – Group Chief Financial Officer
Conference Call Participants
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Pravin Gondhale – Barclays Bank PLC, Research Division Hannes Leitner – Jefferies LLC, Research Division Justin Forsythe – UBS Investment Bank, Research Division Andre Juillard – Deutsche Bank AG, Research Division Mahir Bidani – UBS Investment Bank, Research Division
Presentation
Operator
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Good morning. Thank you for standing by, and welcome to the Pluxee First Half Fiscal 2026 Results Presentation. [Operator Instructions] I advise you that this conference is being recorded today on Thursday, April 16, 2026.
At this time, I would like to hand the conference over to Ms. Pauline Bireaud, Head of Investor Relations. Please go ahead, madam.
Pauline Bireaud Head of Investor Relations & Financial Communication
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Good morning, everyone, and thank you for joining us today for our fiscal 2026 H1 results. So I’m Pauline, I’m Head of Investor Relations for Pluxee and I’m joined by Aurelien Sonet, our CEO; and Stephane Lhopiteau, our CFO.
Let me guide you through today’s presentation agenda in the next slide. So Aurelien will start with the key highlights and figures for H1, followed by a focus on our commercial performance, and then Stephane will take you through our financial results. Finally, Aurelien will then conclude with our outlook, including an update on the regulatory situation in Brazil before we open the floor for the Q&A.
And with that, I will hand over to Aurelien.
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Aurélien Sonet Chief Executive Officer
Thank you, Pauline, and good morning, everyone. I’m pleased to be back with you today to present our first half fiscal 2026 results, starting with our key highlights. We are pleased to share that we delivered overall solid H1, which puts us
Britain’s steel producers are sounding the alarm over a widening electricity price chasm with European rivals, warning that the escalating Middle East war has pushed UK power costs to levels that threaten the industry’s survival and could derail the Government’s flagship Steel Strategy.
In its response to the Government’s publication today of findings from the consultation on the British Industrial Competitiveness Scheme (BICS), trade body UK Steel has offered cautious praise tempered with a stark warning: while the new scheme will deliver meaningful relief to parts of the steel supply chain, it does nothing to tackle the crippling wholesale electricity costs squeezing steelmakers themselves.
The numbers make sobering reading for anyone invested in the fortunes of British heavy industry. UK steelmakers are now paying up to 77% more for electricity than their counterparts in France and Germany, a yawning gap that has ballooned from roughly 25% in a matter of months. Indicative industrial prices for 2026 place UK costs at around £84 per megawatt hour, against approximately £48 in France and £65 in Germany.
The fallout is measured in tens of millions. Without intervention, UK Steel calculates the industry will shoulder an additional £82 million in annual electricity costs compared with operating in France, a burden that risks stalling decarbonisation projects, bleeding order books to continental rivals and undermining the credibility of the Government’s Steel Strategy.
The BICS itself has been broadly welcomed for what it does offer. The scheme will materially reduce electricity bills for parts of the steel supply chain and energy-intensive assets that have until now fallen outside existing support frameworks. For companies previously ineligible for any relief, it represents a significant and overdue lifeline.
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The sticking point is that steelmakers themselves already benefit from similar support via the British Industry Supercharger, leaving the core competitiveness challenge untouched. That challenge has been brought into painful relief by the Middle East war, which has sent wholesale gas and electricity prices surging and exposed once again the UK’s structural dependence on gas-driven power pricing.
Frank Aaskov, Director of Energy and Climate Change Policy at UK Steel, said the scheme was a helpful step but fell short of addressing the fundamental problem.
“The BICS will bring welcome relief for parts of the steel supply chain and manufacturers not currently covered by existing schemes and materially lower their energy bills,” he said. “But it will not lower electricity prices for steel producers themselves, who remain exposed to exceptionally high wholesale power costs.”
Aaskov added that the deterioration had been rapid and severe. “That problem has intensified sharply in recent months. As a result of the Middle East war, UK steelmakers are now paying nearly 80% more for electricity than competitors in France and Germany, up from around 25% previously. This is happening despite the support already in place and reflects the UK’s continued exposure to gas-driven electricity prices.”
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The industry body is pressing ministers to go further, advocating for a wholesale price rebalancing mechanism along the lines proposed by consultancy Baringa. Such a measure, UK Steel argues, would realign Britain’s industrial power costs with those of continental competitors and restore the investment confidence the sector urgently needs.
“To make the Steel Strategy a success and deliver the Government’s industrial and decarbonisation ambitions, additional measures are now essential,” Aaskov said. “That means targeted action to bring wholesale electricity prices into line with our European competitors that gives industry the confidence to invest.”
For SME suppliers woven through the steel value chain, from specialist fabricators to downstream manufacturers, the stakes are considerable. A weakened domestic steel industry would reverberate through thousands of smaller firms whose order books depend on healthy demand from the big producers. The question now facing Westminster is whether a partial fix is enough, or whether bolder intervention on wholesale pricing is the only credible route to keeping British steel in the game.
Amy Ingham
Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.
LOS ANGELES (April 16, 2026) — Los Angeles Lakers superstar Luka Doncic remained sidelined Thursday with a Grade 2 left hamstring strain, but the Slovenian phenom is inching closer to a potential postseason return after undergoing specialized regenerative treatment in Spain.
Doncic, who suffered the injury April 2 during a blowout loss to the Oklahoma City Thunder, has been ruled out for the remainder of the regular season. The Lakers open the NBA playoffs Saturday against the Houston Rockets, with Doncic’s availability for the first-round series still uncertain as he prepares to rejoin the team in Los Angeles.
Luka Doncic
The five-time All-NBA selection traveled to Madrid shortly after the injury for advanced medical care, including regenerative injections aimed at accelerating healing. Multiple reports indicate Doncic is scheduled to return to the United States on Friday, April 17, where he will undergo further evaluation by Lakers medical staff. No firm timetable has been set for his on-court activity, but optimism persists that he could factor into the series if the Lakers advance.
A Grade 2 hamstring strain involves a partial tear of muscle fibers and typically requires four to six weeks of recovery. Standard timelines would place Doncic’s return around late April to early May, potentially missing the entire first round against the Rockets, whose best-of-seven series could conclude as late as April 30 if it goes the distance.
Lakers coach J.J. Redick and team officials have emphasized a cautious approach, describing Doncic’s status as day-to-day while stressing the need to avoid re-injury. Hamstring strains, particularly in high-usage players like the 27-year-old Doncic, carry risks of recurrence if rushed. Recent history shows NBA stars missing significant time with similar injuries, though some have returned successfully with proper management.
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Doncic’s agent, Bill Duffy, confirmed the decision to seek treatment abroad to promote faster healing. Reports suggest the protocol may have included platelet-rich plasma (PRP) injections or stem cell therapy, procedures that a 2022 study indicated could shorten recovery by about nine days on average compared to conventional rest and rehabilitation. Even with accelerated treatment, experts project a realistic return no earlier than late April.
The injury occurred in the third quarter of the April 2 contest against Oklahoma City, when Doncic pulled up awkwardly while driving to the basket. He did not return, and an MRI the following day confirmed the moderate strain. The Lakers, who had already clinched a playoff spot, finished the regular season without their leading scorer.
Without Doncic, the Lakers leaned heavily on supporting cast members, including LeBron James and a resurgent bench. Austin Reaves is also sidelined with his own injury, expected to miss time until at least May, further thinning Los Angeles’ backcourt depth heading into the postseason.
Doncic averaged career-high numbers this season before the setback, posting around 33.5 points, 9 assists and 8 rebounds per game while leading the Lakers to a strong Western Conference standing. His absence has been felt, though the team has shown resilience in recent weeks.
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As Doncic completes the initial phase of his recovery program overseas, focus shifts to his re-evaluation upon arrival. Team sources indicate he will not be available for Game 1 on Saturday but could be re-assessed for subsequent contests. If the Lakers can navigate the early games without him, a potential debut in Games 3, 4 or 5 remains a possibility, depending on medical clearance and how the series unfolds.
Medical professionals note that hamstring injuries demand gradual ramp-up: initial rest, followed by light mobility work, strengthening exercises, and eventually sport-specific drills including cutting, jumping and full-speed running. Full basketball activities, including five-on-five scrimmages, typically come in the later stages of rehab.
Lakers fans and analysts have expressed mixed emotions. Some worry that rushing Doncic back could jeopardize not only this series but future playoff runs, given the physical demands of deep postseason basketball. Others point to his competitive fire and history of playing through discomfort, hoping the European treatment provides a breakthrough.
Doncic has dealt with lower-body issues in the past, including recurring calf strains during his Mavericks tenure. Those experiences may inform a more patient approach this time, as he reportedly told confidants he wants to ensure 100% readiness rather than risk a setback.
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The broader NBA landscape adds pressure. With the Western Conference as competitive as ever, the Lakers view this matchup against a young, athletic Rockets squad as winnable but challenging without their superstar. Houston boasts rising talents and defensive versatility that could exploit Los Angeles’ temporary backcourt limitations.
If Doncic returns midway through the first round, he would likely start with minutes restrictions and a focus on efficiency rather than his usual heavy workload. Monitoring his movement, explosiveness and pain levels will be critical. Any signs of compensation or tightness could push his timeline further.
League insiders, including ESPN’s Shams Charania and Dave McMenamin, have provided consistent updates, noting the treatment’s goal was to compress the typical recovery window. While no guarantees exist, the hope is for a contribution in a potential second-round series if the Lakers advance.
The organization has remained relatively tight-lipped on specifics to protect the process, but Redick has spoken generally about the importance of load management and long-term health for star players. “We’re going to do what’s right for Luka and for the team,” Redick said in a recent availability.
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Doncic’s presence off the court could still provide value. His basketball IQ and vocal leadership have been assets in film sessions and huddles, even while sidelined. Teammates have praised his engagement during recovery, calling him a vocal presence in meetings.
As the playoffs approach, speculation swirls about Doncic’s exact return date. Conservative estimates suggest he might miss the opening two games, targeting a possible Game 3 on April 24 or later. More optimistic projections, factoring in the regenerative therapy, point to a late-April window if progress continues smoothly.
Rehabilitation experts emphasize that true recovery extends beyond pain-free movement to restored strength symmetry and neuromuscular control. Advanced metrics, such as force plate testing and motion capture analysis, likely factor into the Lakers’ clearance decisions.
The case draws parallels to past high-profile hamstring recoveries across the league. Some players have returned ahead of schedule with modern interventions, while others have seen seasons derailed by premature comebacks. The Lakers appear determined to learn from those examples.
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Community reaction on social media and sports talk shows reflects the stakes. Lakers Nation buzzes with anticipation for Friday’s arrival and subsequent updates, while rival fans question whether the injury timing could tilt the Western Conference bracket.
Doncic himself has stayed largely quiet on public platforms, focusing instead on his regimen. Those close to the situation describe him as motivated and frustrated by the timing but committed to a smart recovery.
With the regular season concluded, all eyes turn to the postseason. The Lakers’ path forward hinges partly on how quickly their franchise cornerstone can reclaim the floor. A healthy Doncic transforms Los Angeles into a dangerous contender capable of making noise beyond the first round.
Medical re-evaluation Friday or early next week will provide the next key data point. Until then, the team prepares without its MVP-caliber leader, relying on collective effort and home-court advantage in the series opener.
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Anyone following the Lakers’ playoff journey will watch closely for signs of Doncic’s progress. His return, whenever it comes, could shift momentum in what promises to be an intense opening-round battle.
As of Thursday evening, Luka Doncic’s status remains out indefinitely, with no confirmed date for resuming training or basketball activities. The coming days of evaluation will clarify whether the Spain trip yielded the hoped-for acceleration in his healing process.
The Lakers continue to list both Doncic and Reaves as out, underscoring the challenges ahead. Yet the organization and its star express confidence that, with patience, he will be back stronger and ready to lead in the playoffs.
President Donald Trump joins FOX Business’ Maria Bartiromo to discuss the AI race with China, Iran tensions, NATO clashes, and his push to overhaul the Fed while touting a strong U.S. economy and global strength.
President Donald Trump unloaded on Federal Reserve Chairman Jerome Powell on Wednesday, threatening to fire him over his alleged “incompetence” if he fails to leave his position.
President Donald Trump and Federal Reserve Chair Jerome Powell. (Getty Images/Photo illustration / Getty Images)
The investigation drew ire among some, including outgoing Republican North Carolina Sen. Thom Tillis, who pledged to “oppose the confirmation of any Federal Reserve nominee, including for the position of chairman, until the DOJ’s inquiry into Chairman Powell is fully and transparently resolved.”
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Trump touched on that topic when asked whether he planned to advise U.S. Attorney for the District of Columbia Jeanine Pirro to end the probe.
“[This is a] building that I would have done for $25 million that’s going to cost maybe $4 billion,” Trump said.
“Don’t you think we have to find out what happened there?”
The Marriner S. Eccles Federal Reserve building in Washington, D.C., on Tuesday, June 25, 2024. (Ting Shen/Bloomberg via Getty Images / Getty Images)
He also touched on Tillis when asked if he believed Warsh would be confirmed.
“We’re going to have to find out [if he will be confirmed]. He might not, but that’s why Thom Tillis is no longer a senator,” he said, referring to Tillis’ decision not to seek reelection in 2026.
He proceeded to call Tillis a “good man” who he didn’t believe would intentionally “hurt” Warsh’s chances.
Sen. Tim Scott, R-S.C., joins ‘Mornings with Maria’ to discuss delays in Kevin Warsh’s Federal Reserve confirmation hearing, Jerome Powell’s future, and the fight to pass the CLARITY Act.
“He’s on his way out… and I think he doesn’t want the legacy of stopping a great person who could be great…. I know he said what he said, and maybe it’s true, in which case I’ll have to live with it…”
Trump also criticized Powell over a range of other issues, including his handling of interest rates, reiterating his insistence that rates should be lowered by now.
Fox Business’ Amanda Macias contributed to this report.
Current boss John Brown is stepping down after nearly two years in the role
Toby Parkins is the interim CEO of Cornwall Chamber(Image: Cornwall Chamber of Commerce)
Cornwall Chamber of Commerce has appointed its current president as interim chief executive. Toby Parkins will take the helm of the organisation as it looks to hire a replacement for former boss John Brown.
It is understood Mr Parkins will focus on “maintaining the strategic position” of the chamber as well as supporting the team who deliver business services such as events, membership and trade support.
Laura Whyte, chair of Cornwall Chamber of Commerce, said: “We are extremely grateful to Toby for stepping into this role at an important time for the chamber. His leadership, insight, and deep understanding of our organisation will provide the continuity we need as we look to the future. This gives us the time and space to find the right long-term successor while ensuring our work continues without disruption.”
Mr Brown, meanwhile, will remain on the board and continue to provide support during the transition period, particularly focusing on policy development, according to the chamber.
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“I’m privileged to support the chamber during this transition period,” said Mr Parkins. “Cornwall’s business community is resilient and innovative, and I look forward to working closely with the board, team, and members to continue delivering value and impact. One of the main objectives to ensure our next permanent chief executive has a strong chamber to go forward with.”
Mr Brown is stepping down as chamber chief after nearly two years in the role. He is taking up a full-time executive job within a private sector organisation.
“We are proud of the contribution John has made to the chamber and to the wider business community, and we remain firmly on track with our priorities and ambitions to provide Cornwall with a strong, credible and commercially grounded voice,” Ms Whyte said previously.
“We are excited that John will bring his enthusiasm at a strategic board level and with his new role driving crucial new investment into Cornwall, that connection is something we welcome. We believe in celebrating progression, so when talented people step into roles that help drive Cornwall forward, that is something to celebrate.”
SYDNEY — In what authorities describe as an Australian first, a father and son commercial fishermen have each been fined $15,000 for deliberately sinking their 16-metre trawler off the New South Wales South Coast, marking the inaugural successful prosecution under federal sea-dumping laws for the illegal scuttling of a vessel.
Marcus Clem McDermott, 29, and his father Mark Anthony McDermott, 55, from the Morton area near Ulladulla, were convicted and sentenced in Nowra Local Court on April 14, 2026. The pair admitted to towing the aging fishing vessel, named Maria Louise K or MLK, out to sea and sinking it without a permit on January 24, 2023.
The Department of Climate Change, Energy, the Environment and Water, known as DCCEEW, led Operation Bannerman, the investigation that uncovered the deliberate act. An anonymous tip-off provided video evidence showing the men in the process of scuttling the boat, which was later located on the seabed northeast of Ulladulla. Additional CCTV footage and vessel monitoring systems helped build the case against them.
Her Honour Judge Julie Zaki determined beyond reasonable doubt that the McDermotts agreed to dump the vessel because of its low commercial viability. Purchased in 2020, the boat — originally built in 1970 and previously operated as a commercial trawler in Western and South Australia — had become a financial burden. The men stripped parts from it and sold them before towing the hull out to sea to avoid the $12,700 cost of obtaining a proper scuttling permit or dealing with legitimate disposal options.
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The maximum penalty for dumping a vessel into Australian waters without a permit under the Environment Protection (Sea Dumping) Act 1981 is $16,500 or up to two years in jail. In sentencing, the judge noted the offence carried a potential six-month jail term in this specific context but opted for fines, describing the act as financially motivated and emphasizing the need for strong deterrence against marine pollution.
DCCEEW officials hailed the outcome as a landmark moment. A department spokesperson said the fines send a clear message: “The illegal dumping of fishing vessels and other unwanted items or waste at sea won’t be tolerated, and offenders will face serious consequences for their actions.” The sentencing concludes a multi-year probe that underscores the federal government’s commitment to protecting Australian marine environments.
Environmental groups and marine experts have welcomed the ruling, warning that scuttled vessels can pose long-term risks. Sunken ships may leak residual fuel, oils and other contaminants, harming marine life and disrupting ecosystems. Abandoned hulls can also create navigation hazards or damage sensitive habitats such as reefs and seagrass beds. In this case, the Maria Louise K rested in waters off Ulladulla, a popular fishing and tourism area on the NSW South Coast.
The case highlights broader challenges in Australia’s commercial fishing industry. Many older vessels become uneconomical to maintain or repair as operators face rising costs, stricter regulations and fluctuating catches. Proper disposal or recycling of decommissioned boats can be expensive and logistically complex, sometimes tempting owners to take shortcuts. Authorities stress that legal pathways exist, including permitted scuttling in designated areas under strict environmental assessments, but illegal acts undermine those systems.
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The McDermotts’ vessel had a documented history. After its purchase in 2020, it operated in local waters before being deemed unseaworthy or unprofitable. Instead of pursuing authorized options, the father and son chose to tow it offshore and sink it deliberately, an act captured on video that proved pivotal in court.
Operation Bannerman involved close collaboration between federal environment officers, the Australian Maritime Safety Authority and local law enforcement. The anonymous tip that included video evidence was crucial, illustrating how public vigilance can aid enforcement of maritime laws. Once the wreck was located on the seabed, further inspections confirmed it matched the Maria Louise K.
Legal experts note this prosecution sets an important precedent. While sea-dumping charges have been used for smaller waste items, this marks the first time the law has been successfully applied to the deliberate sinking of an entire commercial fishing vessel. The outcome could encourage more rigorous monitoring of vessel decommissioning and deter others considering similar actions.
The fines total $30,000, a significant penalty for the individuals involved but well below the maximum. The court considered factors such as the defendants’ guilty pleas, their lack of prior environmental offences and the financial motivation behind the crime. No jail time was imposed, though the judge warned that future cases could result in harsher penalties as awareness of the law increases.
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For the Ulladulla community, the case has sparked mixed reactions. The South Coast fishing town relies heavily on its commercial fleet, and many locals understand the pressures facing operators. At the same time, residents and tourism operators value the pristine waters that draw visitors for diving, fishing and boating. Environmental advocates in the region have called for better support programs to help fishermen retire old vessels responsibly.
Broader implications extend to Australia’s marine protection efforts. The federal government has ramped up enforcement of sea-dumping laws in recent years, particularly as concerns grow over plastic pollution, abandoned vessels and industrial waste. Similar cases involving smaller boats or debris have resulted in convictions, but the scale of a 16-metre trawler makes this ruling stand out.
DCCEEW continues to urge vessel owners to seek proper permits and guidance for decommissioning. Legal scuttling is possible in approved offshore sites after thorough environmental impact assessments, ensuring minimal harm to marine ecosystems. Alternatives include recycling programs that salvage steel, engines and other materials, though these can involve transport and processing costs.
The department’s investigation also serves as a reminder of the role technology plays in enforcement. Video evidence, vessel tracking systems and public reporting have become powerful tools in combating illegal activities at sea. Authorities encourage anyone with information about suspected dumping to contact relevant agencies, promising confidentiality where appropriate.
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As climate change and environmental pressures intensify, protecting Australia’s oceans has become a national priority. Incidents like the scuttling of the Maria Louise K contribute to cumulative damage that can affect fish stocks, biodiversity and coastal economies. The $15,000 fines per person, while historic, reflect a growing judicial willingness to impose meaningful penalties to safeguard these resources.
The McDermotts have not publicly commented on the sentencing. Court records indicate they cooperated during the later stages of the investigation after initially facing charges in late 2025. The case, which progressed through Nowra Local Court, concluded with the April 14 ruling that has drawn national attention.
Marine conservation organizations say the decision reinforces accountability. “This sends a strong signal that shortcuts harming our oceans will not go unpunished,” one advocate noted. They called for expanded government assistance for vessel disposal to prevent future illegal acts driven by economic hardship.
Looking ahead, the ruling may prompt reviews of decommissioning policies within the fishing industry. Industry bodies have acknowledged the need for more accessible and affordable options for retiring aging fleets, especially as newer, more efficient vessels enter service.
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For now, the case stands as a cautionary tale. Two commercial fishermen, bound by family and occupation, chose an illegal path to dispose of an unwanted vessel and paid the price. Their $30,000 total penalty, combined with the public nature of the prosecution, serves as a deterrent for others tempted by similar actions.
Australian waters, home to diverse marine life and vital to the nation’s economy, demand vigilant protection. This landmark prosecution under the sea-dumping laws demonstrates that authorities are prepared to act decisively, ensuring that deliberate pollution carries real consequences.
As the details of Operation Bannerman circulate through fishing communities and beyond, the message is clear: the deliberate scuttling of vessels will no longer fly under the radar. With video evidence, inter-agency cooperation and judicial resolve, the era of unchecked sea dumping faces stronger headwinds than ever before.
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