Business
Clear Blue Technologies International Inc. (CBLU:CA) Q4 2025 Earnings Call Transcript
Miriam Tuerk
Co-Founder, CEO & Director
Good morning. This presentation is being recorded for further viewing after the webinar is completed. My name is Miriam Tuerk. I’m Co-Founder and CEO of Clear Blue Technologies. I’m joined today by Farrukh Anwar, who’s our CFO; and Jonathan van der Veen, who’s Head of our Marketing function within the company.
Today, we’re going to be going over our fiscal 2025 and Q1 2026 earnings results and try to give you as much information as we can from a forward outlook perspective. With respect to forward outlook perspective, please be aware always the guidance that’s around forward-looking statements we’re giving the best information we have at the time that we have it, but there is nothing that can promise what’s going to happen in the future. So please take that under advisement.
So just a little bit about Clear Blue. Clear Blue is a world leader in delivering clean, managed wireless power to meet the global need for reliable, low-cost energy for mission-critical infrastructure. Why do I say the word world leader? We don’t deliver large solar infrastructure that feeds into the grid. We deliver off-grid power that is disconnected from the grid for small point-of-use applications, satellite systems, WiFi networks, smart city infrastructure, security cameras, street lights, cell phone towers.
And when it comes to that, we build the technology, but we also manage and deliver it on an ongoing basis. We’ve been doing that since day 1 when we had our first prototype in 2011, and we’ve been remotely managing and monitoring that — those systems online with an ongoing service since day 1. As
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during the America Business Forum in Miami, Florida, US, on Thursday, Nov. 6, 2025.
Eva Marie Uzcategui | Bloomberg | Getty Images
JPMorgan Chase on Wednesday unveiled a new $50 billion share repurchase program and raised its quarterly dividend after the Federal Reserve found the nation’s biggest banks remained well capitalized under its annual stress test.
The biggest U.S. bank by assets said it will increase its quarterly dividend 10% to $1.65 per share, subject to board approval, and authorized the buyback program effective July 1.
“The Board’s intended dividend increase is supported by our consistent investment in our business and strong financial performance,” JPMorgan CEO Jamie Dimon said in a statement. “As always, we are prepared for a wide range of scenarios, including the hypothetical 2026 supervisory severely adverse scenario.”
Goldman Sachs likewise increased its quarterly payouts, saying that its dividend will rise 11% to $5 per share, citing the firm’s strong earnings and capital position.
Wells Fargo said it expects to raise its dividend by 11% to $0.50 per share, while Morgan Stanley boosted its payout 15% to $1.15 per share, while also authorizing a $20 billion buyback program.
The announcements followed the release of the Federal Reserve’s annual stress test, which found that all 32 large banks remained above their minimum capital requirements even after a hypothetical recession generating more than $708 billion in projected losses across the industry.
Unlike in previous years, however, the results will not affect banks’ capital requirements. The Fed said earlier this year it would keep stress capital buffers unchanged through 2027 while it overhauls the testing methodology, meaning banks entered Wednesday with a clear understanding of their capital requirements.
While analysts had expected the exercise to have little immediate impact, in a sign of confidence, banks opted to proceed with payout increases, despite the regulatory limbo.
In a note ahead of the results, KBW described this year’s stress test as “going through the motions,” arguing that investors are more focused on the pending Basel III Endgame proposal expected later this year than on the Fed’s annual exercise.
This story is developing. Please check back for updates.
Business
Bank of Thailand keeps interest rate steady at 1% and raises GDP growth forecast for 2026 to 2.3%
The Bank of Thailand kept its benchmark interest rate steady at 1.00%, as anticipated, stating it will keep an eye on inflation trends and expectations. The seven-member Monetary Policy Committee (MPC) voted unanimously on the decision.
The Monetary Policy Committee (MPC) unanimously voted 7:0 to maintain the policy interest rate at 1.0%. The committee viewed the policy interest rate as appropriately accommodative given Thailand’s low and uneven economic growth, continued contraction in retail lending, and a declining trend in SME lending.
The MPC projected a decline in inflation by 2027 as supply-side pressures, such as energy and fresh food prices, gradually ease. Looking ahead, the MPC will monitor the price pass-through of businesses facing higher costs, medium-term inflation forecasts, and the debt repayment capacity of SMEs and vulnerable households.
The Thai economy is projected to expand at a faster rate than previously estimated, but the growth rate is low and uneven, the MPC said in a statement.
The Thai economy is projected to grow better than previously estimated.
- The Monetary Policy Committee (MPC) has revised its GDP forecast for this year upwards to 2.3% year-on-year (YOY) from the previous 1.5% YOY (excluding government measures) and 2.0% YOY (including government measures). This revision is based on…
- Export and investment momentum driven by the Tech & AI Cycle exceeded expectations , with growth concentrated in technology-related exports and investments in digital businesses.
- The impact of the war was less than expected, as large businesses were able to adapt by diversifying their import sources and transportation routes for raw materials, while the government provided subsidies to mitigate energy costs.
- Government measures to mitigate the impact of the energy crisis, under the Emergency Decree on Borrowing 400 billion baht.
- The Monetary Policy Committee (MPC) still views Thailand’s economic growth in both 2026 and 2027 as below its potential and uneven, particularly affecting households where purchasing power is pressured by high living costs while incomes are slowing, and SMEs which face difficulties adjusting to costs and have limited access to credit.
- The Monetary Policy Committee (MPC) projects Thailand’s current account balance for the full year 2026 to worsen to a balanced level ($0 billion USD, down from the previous estimate of $7 billion USD). This is attributed to temporary factors, including significantly higher crude oil prices and seasonal profit repatriation by multinational corporations, which are expected to contribute to the deficit in the second quarter. However, the MPC anticipates a gradual improvement back to a surplus in the second half of 2026 and throughout 2027.
The Thai baht has slipped as the US dollar strengthens, matching market expectations that the Federal Reserve will raise interest rates later this year, according to the MPC.
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A Toyota Tundra at the New York International Auto Show in New York City on April 2, 2026.
Danielle DeVries | CNBC
DETROIT – Toyota Motor is notably gaining on America’s largest automaker, General Motors, in U.S. sales as hybrids get more popular and all-electric vehicles sputter.
The Japanese automaker is expected to report a nearly 1% increase in U.S. sales through the first half of this year to 1.25 million vehicles, while GM is projected to be down 7.2% to 1.33 million, according to a new forecast released Wednesday by Cox Automotive.
“At these rates, and what we’re seeing right now in the selling rates, GM may be looking over their shoulder here when we get to the year’s end, that Toyota could potentially overtake them as the top selling manufacturer here in the U.S. market,” Charlie Chesbrough, senior economist and senior director of industry insights at Cox Automotive, said during a media event.
Chesbrough said he isn’t yet forecasting that Toyota would top GM, but he said the trends are “concerning for General Motors.”
The expected 83,255 difference in vehicle sales through the first half of the year would be the narrowest between the two automakers since Toyota topped GM in U.S. sales for the first time ever in 2021. That was in part the result of supply chain issues during the coronavirus pandemic.
At that time, Toyota chair and company scion Akio Toyoda said he did a “happy dance” when learning of the win, but executives said the company didn’t expect it to be sustainable. Other than that year, GM has been the top-selling automaker in the U.S. since 1931, according to industry data.
Toyota’s gains come as the automaker has continued to roll out new models, including all-electric vehicles, while continuing to double down on its hybrid vehicles, where it’s been a leader for decades.
GM, meanwhile, heavily invested in all-electric vehicles instead of hybrids, many times referring to them as a transitional technology. The Detroit automaker’s sole hybrid is a Corvette, while it offers a full lineup of EVs for luxury brand Cadillac as well as many models for other brands.
“The story is hybrids are having their moment,” said Stephanie Valdez Streaty, Cox director of industry insights, during the Wednesday event.
Cox expects overall U.S. new vehicle sales to be down 3% through the first half of the year compared to last year, including a 0.5% decline during the second quarter.
The firm forecasts EV sales down 23.3% during first half this year. Hybrid sales, meanwhile, are projected to be up about 10%.
Honda, Volkswagen and Stellantis are expected to post sales gains for the second quarter, while Cox is forecasting the largest sales declines for Tesla, Ford Motor and GM.
The “Thailand Surf Therapy Real Experience and Trust Building Journey” in Phang-nga, organized by TAT, showcases surf-based wellness for emotional healing, enhancing Thailand’s coastal tourism and wellness offerings.
Launch of Thailand Surf Therapy
In June 2026, the Tourism Authority of Thailand (TAT) organized the “Thailand Surf Therapy Real Experience and Trust Building Journey” in Phang-nga. This initiative precedes the concept’s official unveiling at Thailand Health Excellence 2026 on 30 June. Collaborating with Prince of Songkla University, La Vita Sana, and international partner Waves for Change, the event gathered 36 tourism and wellness stakeholders to explore surf therapy’s potential in boosting coastal tourism and wellness.
Integrating Wellness and Coastal Tourism
The event’s programme included a “Discover Talk” session on surf therapy, led by Waves for Change’s Lian Papier, and practical surf therapy experiences at Memories Beach. Participants learned about surf therapy’s role in emotional and mental well-being, advancing Thailand’s wellness tourism. The event continued with activities like “Wellness-Breath with the Ocean” using Tibetan bowls, enhancing coastal experiences, and preparing for diverse surf-based wellness programs aimed at stress management.
Future of Thailand Surf Therapy
The Thailand Surf Therapy model aims to integrate international surf therapy techniques with local Thai identities to enrich the wellness tourism landscape. Supported by Span Global through the Rise On Wave network, the initiative includes varied programs such as the Wave Reset and Ocean Balance initiatives. At Thailand Health Excellence 2026, TAT will position Thailand as a premier destination for science-based wellness and therapeutic tourism in Asia.
Source : TAT shapes Thailand Surf Therapy as science-based coastal wellness model
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Operator
Hello, and welcome to the Energy Fuels Inc. 2026 Annual Meeting of Shareholders. Please note that this meeting is being recorded. [Operator Instructions].
Bruce Hansen
Good morning, everyone, and welcome again to the 2026 Annual Meeting of Shareholders of Energy Fuels Inc. My name is Bruce Hansen. I’m speaking to you from our corporate headquarters in Lakewood, Colorado.
I serve as the Chair of the Energy Fuels Board of Directors, and I will act as Chair of this meeting. Corporate Counsel and Corporate Secretary of the company, Julia Hoffmeier, will act as Secretary of the meeting.
Also with us today are Ross Bhappu, our President and Chief Executive Officer; Curtis Moore, Senior Vice President of Marketing and Corporate Development; Nathan Bennett, Chief Financial Officer; Nathan Longenecker, Chief Legal Officer and Executive Vice President of Global Government Relations; Kim Casey, Director of Investor Relations; and [ Brian Sheed ], KPMG Audit Partner. I would also like to acknowledge our Board of Directors, many of whom are in attendance with us today.
Finally, I’d like to pay special recognition to 2 directors that have chosen not to stand for reelection this year. That includes Birks Bovaird, who joined the Board in 2006 and served as its Chair from March 2007 to June of 2025, a period of more than 18 years in his notable 20-year tenure with Energy Fuels. Birks strong leadership, sound judgment and balanced perspective have helped support the company through numerous challenges, opportunities and successes.
Our longest-standing director and a member of various Board committees. Birks has
MIAMI — Lionel Messi turned 39 on Wednesday, yet the Argentine superstar continues to perform at an elite level that draws comparisons to players half his age, showcasing remarkable longevity in a physically demanding sport.
Messi’s latest displays of brilliance, including a goal against Austria where he evaded multiple defenders with precise control and finishing, have fueled discussions about the secrets behind his enduring excellence. Observers note his vision, anticipation and technical mastery remain as sharp as ever.
The Inter Miami and Argentina captain has long emphasized personal responsibility for his fitness. His approach combines disciplined nutrition, targeted training and an enduring passion for the game that keeps him motivated.
Messi began working with an Italian nutritionist around 2014, focusing on reducing inflammation through dietary changes. He significantly cut back on sugar and refined flour while emphasizing whole grains, fresh vegetables and balanced meals to fuel his body efficiently.
This regimen supports sustained energy levels and faster recovery, allowing him to maintain high performance despite the rigors of professional soccer. Messi’s commitment extends beyond the kitchen to recovery protocols and smart workload management.
Rather than heavy weightlifting, he prioritizes flexibility, speed and functional movements tailored to soccer’s demands. The strategy helps preserve his agility and reduce injury risk as he advances in his career.
In comments reflecting on his approach, Messi highlighted a mindset focused on the present. He avoids dwelling on age, instead concentrating on his physical condition and giving full effort in every training session and match.
The forward’s dedication has produced a trophy-laden career, including World Cup glory with Argentina and consistent club success. At an age when many players retire or see diminished roles, Messi remains a central figure capable of deciding matches.
Career Longevity in Focus
Messi’s ability to sustain world-class output stems from holistic self-management. Professional athletes often face accelerated physical decline, but targeted habits can extend prime years significantly.
His dietary discipline aligns with broader trends in sports science emphasizing anti-inflammatory foods and nutrient density. Avoiding processed items while prioritizing recovery nutrition has become a model for aspiring players.
Training philosophy also plays a key role. By focusing on sport-specific preparation over general strength building, Messi optimizes performance without unnecessary wear on his body. Regular monitoring and adjustments ensure he trains smart rather than simply training hard.
Mental resilience complements physical preparation. Messi has spoken about his deep love for football as a driving force, helping him maintain motivation through challenges and the natural aging process.
When asked about potential participation in the 2030 World Cup, he deflected speculation. “It’s still a long way off,” Messi said, preferring to concentrate on daily responsibilities and current commitments.
This grounded perspective allows him to avoid unnecessary pressure while maximizing present opportunities with Inter Miami in Major League Soccer and the Argentina national team.
Impact and Legacy
Messi’s influence extends far beyond statistics. His work ethic and professionalism set standards for younger teammates and global fans. Young players study his movement, decision-making and preparation routines in hopes of replicating aspects of his success.
At Inter Miami, he continues elevating the league’s profile while mentoring emerging talents. His presence draws sellout crowds and heightened competition whenever he steps on the pitch.
Argentina national team coach and teammates value his leadership and on-field intelligence. Despite turning 39, Messi’s contributions remain vital in competitive matches, where experience often proves decisive.
The soccer world watches with admiration as he challenges conventional notions of athletic prime. While genetics play a role, Messi’s consistent habits demonstrate the power of discipline and smart choices over decades.
Broader Context in Professional Soccer
Longevity has become an increasingly studied topic as athletes seek extended careers. Advances in sports medicine, nutrition and recovery technology enable top performers to compete longer than previous generations.
Messi joins a select group of players who have excelled into their late 30s, including contemporaries like Cristiano Ronaldo. Their sustained success highlights evolving approaches to training and lifestyle management.
Clubs and national teams invest heavily in player care to maximize return on talent. Individual responsibility, however, remains crucial as seen in Messi’s proactive management of his body and career.
As the 2026 season progresses, expectations around Messi will persist. His ability to contribute at the highest level continues inspiring debates about age and performance in elite sports.
For now, Messi focuses on daily improvement and team success. His journey offers valuable lessons on commitment, adaptability and finding joy in pursuit of excellence regardless of calendar years.
The soccer icon’s story resonates globally, reminding fans and athletes alike that sustained greatness requires more than natural talent — it demands unwavering dedication to craft and well-being.
Federal Reserve Board Governor Michelle Bowman, U.S. President Donald Trump’s nominee to be Federal Reserve vice chair for supervision, testifies before a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., April 10, 2025.
Kevin Mohatt | Reuters
The biggest U.S. banks would be able to absorb more than $708 billion in losses in a severe global recession while continuing to lend to households and businesses, according to the Federal Reserve’s annual stress test released Wednesday.
All 32 banks examined by the Fed remained above their minimum capital requirements under the regulator’s hypothetical scenario, which included unemployment surging to 10%, a 39% drop in commercial real estate prices and a 30% decline in home prices.
The industry’s common equity tier 1 capital ratio, a key capital measure that would absorb losses in a downturn, fell by 1.6 percentage points during the exercise, remaining comfortably above required minimums. Projected losses for the group included roughly $200 billion tied to credit cards, $160 billion from commercial and industrial loans and $75 billion from commercial real estate.
“Today’s results underscore the strength of the banking system,” Federal Reserve Vice Chair for Supervision Michelle Bowman said in a release.
The annual exercise comes at a pivotal moment for bank regulation because, unlike in previous years, the results will not affect the amount of capital large banks are required to hold.
That’s because the Fed said in February that it would leave the stress test buffers untouched until 2027 as regulators rework the methodology, heeding industry complaints, a move that could eventually reshape how much capital firms must hold against future downturns.
In a June 21 research note that described this year’s exercise as “going through the motions,” KBW analysts led by Christopher McGratty said banks are likely to remain focused on the pending Basel III Endgame proposal expected later this year rather than the stress test results themselves.
KBW estimated that if this year’s results had counted toward capital requirements, Morgan Stanley, Citigroup, Citizens Financial and KeyCorp would have seen some of the largest reductions in capital buffers.
This story is developing. Please check back for updates.
Jamie Levy
President, CEO & Director
Thank you all for attending. Good morning. Welcome to the 2026 Annual and Special Meeting of Generation Mining Limited. My name is Jamie Levy, and I am President and Chief Executive Officer and Director of the company. It’s my pleasure to welcome shareholders and others present in person and those watching the 3 of you in-person, thank you and those listening via Zoom to this meeting. Thank you for your interest in Generation Mining. Sorry, I’m just admitting more people here.
We will first proceed with the formal business of the meeting. As highlighted in our notice of meeting and management circular, shareholders joining us via Zoom shall not be able to vote or participate in the formal business of the meeting. Following the formal business of the meeting, I will present an update of the company and those joining us in person or participating via Zoom will have an opportunity to ask questions. Instructions on how to ask questions via Zoom will be provided after the formal business of the meeting has been completed.
The meeting now come to order. I, Jamie Levy, will act as Chair of the meeting. And with the consent of the meeting, I appoint Brian Jennings, the company’s Chief Financial Officer, act as Secretary of the meeting.
With the consent of the meeting, I appoint TSX Trust Company, the registrar and transfer agent for the company, acting through its representative, Ms. Julie Kim, to act as scrutineer of the meeting. In order for a quorum to be present in accordance with the bylaws of the company, the scrutineer reports must show that there are not less than 2
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