HM Revenue and Customs has confirmed it will appeal against a First-Tier Tribunal ruling that would cut VAT on public electric vehicle charging from 20% to 5%, in a decision that has drawn stinging criticism from charge point operators, campaigners and SME-led infrastructure businesses across the country.
The ruling, handed down last month, followed a case brought by Charge My Street, a not-for-profit charging operator, which argued successfully that electricity supplied through public chargers should fall within the reduced 5% rate applied to domestic electricity use. Judge Harriet Morgan found that applying the standard 20% rate was a “strained construction” of the VAT Act, which treats electricity as being for domestic use provided a single user does not consume more than 1,000 kilowatt hours at one premises in a given month, enough, in practical terms, to recharge a Tesla Model Y sixteen times over.
That finding, uncovered after accountancy firm Deloitte spotted the discrepancy and worked pro bono alongside Charge My Street, offered the clearest hope in years that the long-standing gulf between home and public charging costs might finally close. Three days of tribunal argument turned on the interpretation of a handful of words, notably “a month” and “premises”, before the judge came down firmly against HMRC’s position.
The Treasury, however, has no intention of conceding. In a statement on Tuesday, an HMRC spokesperson said: “We’re appealing this case, as our position is that standard rate VAT applies to electricity supplied through public EV charging infrastructure.”
For drivers, the stakes are considerable. Those fortunate enough to have a driveway pay 5% VAT when charging at home; the estimated 40% of UK households without off-street parking are stung with 20% at public chargers, four times the rate for what is, electrically speaking, identical electricity. In some cases, industry figures note, running an EV on public charging alone can cost up to ten times more per mile than charging at home, eroding the very economic case government policy relies upon to accelerate the switch from petrol and diesel.
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According to calculations by charger-mapping company Zapmap, the VAT differential currently nets the Treasury roughly £85m a year. That figure is projected to climb to £315m by 2030 and into the billions thereafter as the national EV fleet scales. Against a fiscal backdrop strained by the Iran conflict, mounting pressure to scrap a planned fuel duty increase, and the government’s own commitment to introduce pay-per-mile taxation on electric cars, ministers are evidently reluctant to surrender a growing revenue stream to replace the £24.5bn currently generated annually by fuel duty.
The appeal has triggered an unusually unified response from an industry more often given to commercial rivalry than common cause.
Will Maden, director at Charge My Street, was blunt: “About 40% of the UK population, they don’t have drives. Transitioning to EVs is a huge problem. Adding 20% makes a huge difference. My personal view is we should be making the transition to EVs as cheap as we can. This is an environmental issue.”
John Lewis, chief executive of charge point operator char.gy, described the appeal as “a deeply disappointing decision, and one that sends entirely the wrong signal to the millions of people who rely on public charging.” Lewis confirmed his firm would pass any eventual VAT cut straight through to customers, adding that “the government talks about accelerating EV adoption, yet is actively choosing to maintain a tax structure that makes public charging more expensive than it needs to be and undermines the transition.”
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Tanya Sinclair, chief executive of Electric Vehicles UK, accused ministers of defending inequality by proxy: “Drivers without off-street parking already pay more to charge simply because of where they live. HMRC appealing this ruling is the government choosing to defend that inequality. If you’re serious about EV adoption, you don’t fight the ruling that would fix your most regressive charging cost.”
Ginny Buckley, chief executive of Electrifying.com, questioned the political optics. “For a government that talks about standing up for ‘working people’, the decision to appeal flies in the face of that,” she said. “This hits those without driveways the hardest, making it more expensive for them to switch, and in some cases, that makes EVs more expensive to run than petrol.”
Warren Philips, campaign lead at FairCharge, which has spearheaded the lobbying effort, called the appeal indefensible: “People unable to charge at home pay four times the VAT rate of their neighbours for identical electricity. By appealing, the government is telling 1.4 million current EV drivers, and more than 30 million who will have to switch, that it is willing to go to court to keep public charging costs high.”
The tribunal ruling, for now, binds only Charge My Street. Should HMRC’s appeal fail at the Upper Tribunal, however, the floodgates will open: operators across the sector are understood to be preparing claims for overpaid VAT stretching back years, a liability that could run into hundreds of millions of pounds.
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For the UK’s SME charge point operators, many of them small, founder-led businesses already grappling with grid connection delays, planning bottlenecks and capital costs, the appeal represents more than a fiscal irritation. It is, in their view, a test of whether Whitehall is serious about the commercial foundations of the net zero transition, or merely content to talk about them.
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.
D.R. Horton Stock Surges 8% on Q2 Earnings Beat and Strong Sales Orders
ARLINGTON, Texas — D.R. Horton Inc. shares jumped sharply in morning trading Tuesday after the nation’s largest homebuilder reported fiscal second-quarter 2026 results that exceeded earnings expectations and showed resilient demand through higher net sales orders, despite ongoing affordability challenges in the housing market.
At 11:24 a.m. EDT, D.R. Horton (NYSE: DHI) stock had climbed $11.81, or 7.70%, to $165.15 on elevated volume. The gain extended a recent recovery for the homebuilder, whose shares had traded in a broad range amid fluctuating mortgage rates and economic uncertainty.
D.R. Horton reported net income attributable to the company of $647.9 million, or $2.24 per diluted share, for the quarter ended March 31, 2026. While earnings per share declined 13% from the year-ago period, the figure topped Wall Street consensus estimates. Consolidated revenues reached $7.6 billion, with home sales revenues contributing the bulk of the total.
The standout metric was an 11% year-over-year increase in net sales orders to 24,992 homes valued at $9.2 billion. This growth signaled improving buyer interest even as the company offered elevated incentives to stimulate demand in a high-interest-rate environment. The results highlighted D.R. Horton’s scale advantage and operational discipline as America’s largest homebuilder.
Consolidated pre-tax income totaled $867.4 million, delivering a pre-tax profit margin of 11.5%. Both the pre-tax margin and home sales gross margin benefited from a favorable litigation outcome and lower warranty costs in the quarter. The company also maintained a strong balance sheet, with continued cash generation supporting shareholder returns.
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Following the release, D.R. Horton declared a quarterly cash dividend of $0.45 per share, payable on May 14 to stockholders of record on May 7. This marks the company’s ongoing commitment to returning capital while investing in land acquisition and community development.
CEO David Auld and the leadership team emphasized the company’s ability to navigate a challenging housing market through pricing discipline, efficient operations and a focus on entry-level and move-up buyers. “We are pleased with our second-quarter performance and the continued strength in our sales order trends,” Auld said in prepared remarks. The company reaffirmed its full-year fiscal 2026 revenue guidance in the range of $33.5 billion to $34.5 billion, with some analysts noting the midpoint slightly above prior consensus.
The earnings beat and positive order momentum provided relief to investors concerned about persistent headwinds, including elevated mortgage rates near 7% and affordability constraints for first-time buyers. D.R. Horton has responded by offering incentives, adjusting lot sizes and focusing on lower-priced homes that remain more accessible in the current environment.
The stock reaction reflected broader market appreciation for homebuilders demonstrating resilience. Peers such as Lennar and PulteGroup also traded higher in sympathy, though D.R. Horton’s outsized move highlighted its leadership position and scale.
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D.R. Horton operates in 126 markets across 33 states, giving it geographic diversification that helps mitigate regional slowdowns. The company closed homes at an average price that remains significantly below both the national new-home median and existing-home median, positioning it well for buyers sensitive to price.
For the first six months of fiscal 2026, net income declined 18% to $1.2 billion, or $4.27 per diluted share, reflecting the cumulative impact of higher interest rates and softer closing volumes in some periods. However, the second-quarter acceleration in orders offers encouragement that demand may be stabilizing or improving modestly.
Analysts had entered the report with cautious optimism. Consensus had called for earnings around $2.15 to $2.18 per share on revenues near $7.7 billion. The actual results, while showing year-over-year declines in some metrics, demonstrated the company’s ability to maintain profitability and grow orders through targeted incentives and inventory management.
The housing market backdrop remains mixed. Mortgage rates have stabilized but remain elevated compared with pre-pandemic levels, limiting buyer pools. Inventory of new homes has tightened in many markets, supporting pricing power in select segments. D.R. Horton’s finished inventory levels decreased during the quarter, indicating efficient turnover and reduced risk of overbuilding.
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Longer-term tailwinds include demographic demand from millennials and Gen Z entering prime homebuying years, potential future rate cuts by the Federal Reserve and ongoing shortages of affordable housing stock. D.R. Horton has invested in land positions and community development to capitalize on these trends when affordability improves.
The company returned significant capital to shareholders in the quarter through dividends and share repurchases. Over the first half of fiscal 2026, it paid out $261.2 million in dividends. Its low debt-to-total-capital ratio of around 18-20% provides financial flexibility for opportunistic land acquisitions or further returns.
Market reaction Tuesday underscored investor relief that order momentum improved despite broader economic uncertainty. The stock’s 7.70% surge at mid-morning reflected a classic post-earnings move where positive surprises on key operational metrics outweigh modest year-over-year declines in headline earnings.
Looking ahead, the housing sector will watch for any shifts in mortgage rates or federal policy that could further influence affordability. D.R. Horton’s scale, national footprint and focus on value-oriented homes position it to benefit disproportionately if conditions ease.
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As trading continued Tuesday, volume remained heavy, with the stock testing recent resistance levels. Analysts will likely update price targets and ratings in the coming days, with many already maintaining Hold or Buy recommendations based on long-term housing fundamentals.
D.R. Horton’s fiscal second-quarter performance reinforces its status as a bellwether for the U.S. housing market. While challenges persist, the company’s ability to grow orders and maintain solid margins in a tough environment demonstrates operational strength and strategic adaptability.
For investors, the earnings beat and dividend announcement provide fresh reasons for confidence in America’s largest homebuilder as it navigates the path toward potentially stronger demand in the second half of 2026 and beyond.
Michael Dell, chairman and CEO of Dell Technologies, speaks during CNBC’s Invest In America Forum in Washington, April 15, 2026.
Aaron Clamage | CNBC
Michael and Susan Dell announced Tuesday that they have committed $750 million to the University of Texas at Austin that will fund the development of a new medical center and research campus.
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The billionaire CEO told CNBC that the new medical center, which will include a hospital and research facility, will use artificial intelligence and advanced computing to deliver earlier and more precise treatment for patients.
“There are a lot of medical centers out there,” Dell said in an interview. “But what you get with the opportunity to build something new is that you can design it from the start with data and computing and AI built in. It allows you to make better decisions earlier and coordinate care more effectively and ultimately create better outcomes.”
The university expects to break ground on Dell Medical Center later this year and open the facility in 2030. The new medical campus will also include a cancer center, which is already under development. The Dells’ donation will also go toward student scholarships and UT’s supercomputing center.
A conceptual rendering of the UT Dell Campus for Advanced Research, which is expected to open in 2030.
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Courtesy: The University of Texas at Austin
The couple’s donation is one of the largest ever to an American public university. Dell founded his namesake technology firm from his dorm room at UT Austin in 1984 when he was a premed student. He dropped out of UT Austin before his sophomore year.
“I think about this as the next step in a timeline that actually goes back to my parents sending me off to UT to become a doctor,” he said. “Obviously, that part didn’t work out, but I never stopped thinking about that.”
With the latest commitment, the couple has contributed more than $1 billion in total to UT Austin, including a $50 million initial gift to establish Dell Medical School in 2013. Their foundation also gifted $25 million to establish Austin’s first pediatric hospital in 2007.
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Nvidia investor and billionaire Tench Coxe and his wife, Simone, both Austin residents, donated $100 million in January to the new academic medical center.
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Dell said he and his wife have stepped up their giving as Austin’s population has surged. The city’s metro area population has roughly doubled since 2000 and was last estimated at nearly 2.6 million people in 2024, according to data from the city.
Investing in Austin’s health-care system means residents are able to seek care closer to home, Dell said.
“My perspective on this is as a parent and as an employer. You know, years ago, if there was a health challenge, you didn’t actually stay in Austin. You went to Houston or Dallas,” he said. “And that’s becoming less and less true, and now Austin is becoming a destination for special surgeries and difficult procedures, and it’s attracting that kind of talent.”
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The Dells have ramped up their charitable giving in recent months, committing $6.25 billion in December to fund “Trump accounts” for 25 million U.S. children. The couple’s philanthropic commitments to date total more than $10 billion, according to their foundation.
“The scale has increased as we’ve had more ability to have a greater impact,” Dell said of their philanthropy. “We want to do this while we’re still here — and we’re very much still here — and so there’s a lot to be done.”
A conceptual rendering of a classroom at the new medical campus at the University of Texas at Austin.
Courtesy: The University of Texas at Austin
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Patient advocacy groups and medical professionals have raised concerns about AI’s use in health care, such as data privacy risks and the potential for bias.
Dell said he prioritizes AI’s ability to aid health-care professionals rather than replace or hobble them.
“You’ve got to have the right sort of controls and standards around privacy and security,” he said. “At the end of the day, these are just tools. And they’re very powerful, they’re amazing, and they’re going to keep getting better, but still, I think having that human judgment is incredibly important.”
FREMONT, Calif. — Amprius Technologies Inc. shares soared more than 12% in morning trading Tuesday, climbing to $22.07 as investors piled into the high-energy-density silicon anode battery maker amid growing excitement over its role in powering next-generation electric vehicles, drones and defense applications.
Amprius Technologies Stock Surges 13% as AI Battery Demand and 2026 Outlook Fuel Momentum
At 11:43 a.m. EDT, Amprius (NYSE: AMPX) stock had gained $2.46, or 12.54%, on heavy volume. The sharp move extended a strong 2026 run for the company, whose shares have more than quadrupled year-to-date on optimism surrounding its silicon anode technology and aggressive revenue growth targets.
The rally comes as Amprius prepares to report first-quarter 2026 results on May 7, with a conference call scheduled for that day. The company has already set high expectations after delivering strong 2025 performance and issuing upbeat guidance for the current year.
In early March, Amprius reported fourth-quarter 2025 revenue of $25.2 million, representing 18% sequential growth and a dramatic year-over-year increase. Full-year 2025 revenue reached $73 million, up more than 200% from the prior year. The company also narrowed its net loss and highlighted improving gross margins as it scales production of its second-generation SiCore silicon anode platform.
Management guided for at least $125 million in 2026 revenue — implying more than 70% growth — along with the first full year of positive adjusted EBITDA. Executives expressed confidence in broader adoption of SiCore cells, particularly among unmanned aerial vehicle customers and in electric mobility applications.
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A key catalyst driving recent sentiment was Amprius’ March 25 announcement of a $21 million purchase order from a new customer in China for SiCore cylindrical cells targeted at electric two- and three-wheelers, including scooters and motorcycles. The order underscored expanding commercial traction in the electric mobility sector and provided tangible evidence of demand beyond niche high-performance applications.
Amprius’ silicon anode technology delivers industry-leading energy density, with cells reaching up to 500 Wh/kg and 1,300 Wh/L in its SiMaxx platform, far surpassing conventional graphite anodes. The newer SiCore platform offers a balance of high energy density (up to 400 Wh/kg) and longer cycle life (up to 1,200 cycles), making it suitable for broader commercial use while maintaining competitive cost structures.
The company has secured strategic manufacturing partnerships to scale production. In February, it announced a collaboration with U.S.-based Nanotech Energy as its first domestic manufacturing partner, strengthening supply chain security for defense and aerospace customers. This aligns with National Defense Authorization Act compliance efforts and supports a $14.8 million contract with the Defense Innovation Unit for NDAA-compliant cells.
Amprius also earned recognition at CES 2026, winning a Best of Innovation award in the Sustainability & Energy Transition category for its 520 Wh/kg silicon anode battery. The award highlighted the technology’s potential to extend flight times and payload capacity for unmanned aerial systems and other high-performance applications.
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Despite the momentum, risks remain. Amprius is still unprofitable and operates at a relatively small scale compared with established battery giants. The company relies heavily on growth in high-margin but currently limited-volume segments such as drones and defense. Execution on scaling manufacturing capacity and converting design wins into sustained revenue will be critical in 2026.
Analyst sentiment has turned more constructive in recent months, though price targets vary widely. Some forecasts see significant upside if Amprius hits or exceeds its $125 million revenue guidance and achieves positive adjusted EBITDA. Others caution that the current valuation already prices in substantial optimism, leaving room for volatility if production ramps or margin improvements fall short of expectations.
The stock’s recent surge reflects broader enthusiasm for advanced battery technologies amid the electric vehicle transition and increasing demand for high-performance power solutions in drones, aerospace and consumer electronics. Amprius’ focus on silicon anodes positions it as a pure-play beneficiary of the shift away from traditional lithium-ion chemistries limited by graphite anodes.
Trading volume remained elevated Tuesday, consistent with heightened retail and institutional interest in battery technology stocks. Options activity showed bullish positioning, with traders betting on continued momentum ahead of the May 7 earnings release.
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For long-term investors, Amprius represents a high-risk, high-reward opportunity in the clean energy and electrification megatrend. The company’s proprietary silicon nanowire and SiCore platforms offer clear technological differentiation, but commercial success depends on scaling production cost-effectively and securing larger-volume contracts.
Amprius operates pilot and commercial manufacturing lines, including partnerships in Asia and now the United States. Its Fremont, California headquarters supports research and development, while production partnerships help accelerate time-to-market for customers.
The company has delivered strong year-over-year growth metrics while improving operational efficiency. Gross margins reached 11% for full-year 2025, an 87-percentage-point improvement from the prior year, demonstrating progress toward sustainable profitability.
As the May 7 earnings approach, investors will watch for updates on the $21 million order fulfillment, progress with the Nanotech Energy partnership, and any additional design wins or capacity expansion news. Positive commentary on 2026 revenue trajectory and margin expansion could sustain the rally, while cautious guidance might trigger profit-taking.
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Broader market context supported risk appetite Tuesday, with technology and growth stocks showing selective strength. Amprius’ outsized move stood out even in a session with other battery and clean-tech names posting gains.
The stock has experienced significant volatility throughout 2026, with sharp rallies on positive news followed by periods of consolidation. Its year-to-date performance far outpaces the broader market, reflecting investor excitement over silicon anode potential but also highlighting execution risks inherent in early-stage scaling companies.
Amprius Technologies was founded with technology originating from Stanford University research. It has built a portfolio of more than 50 patents focused on silicon anode innovation, positioning it as a leader in next-generation lithium-ion battery chemistry.
For retail traders, Amprius has become a popular momentum name in the battery space. Online discussions often center on its energy density advantages, defense contracts and potential role in the electric two- and three-wheeler market in Asia.
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As trading continued past midday, the stock maintained strong gains. Whether the momentum carries through the close and into the earnings period will depend on sustained buying interest and absence of negative news.
The Amprius story illustrates the high-stakes nature of advanced materials companies in the clean energy transition. With its silicon anode platforms offering breakthrough performance, the company sits at the intersection of multiple growth markets — electric mobility, drones, aerospace and defense.
Tuesday’s surge underscores investor willingness to reward visible commercial progress and ambitious 2026 guidance. As Amprius prepares its first-quarter update, the market will seek confirmation that the company is on track to deliver the scale and profitability improvements needed to justify its elevated valuation.
SEOUL, South Korea — POSCO Holdings Inc. shares surged more than 8% Tuesday on the Korea Exchange, closing at 421,500 won after gaining 32,000 won, as investors cheered approval for a major low-carbon iron plant in Western Australia and positive technical signals ahead of the company’s upcoming first-quarter 2026 earnings and business plan presentation.
POSCO Holdings Stock Jumps 8% on Low-Carbon Project Approval and Technical Breakout
The 8.22% advance marked one of the strongest daily gains for the steel giant in recent weeks, pushing the stock above its 200-day moving average and reigniting optimism around POSCO’s decarbonization strategy and long-term growth initiatives. Trading volume was elevated as both institutional and retail investors piled in, reflecting renewed confidence in South Korea’s largest steelmaker amid global shifts toward green steel production.
The catalyst centered on regulatory approval for POSCO’s planned low-carbon iron plant in Western Australia, a project that aligns with the company’s aggressive push to reduce carbon emissions and secure sustainable raw material supplies. The facility is expected to utilize advanced hydrogen-based reduction technologies, positioning POSCO as a leader in the transition to low-emission steelmaking. Analysts noted that such developments could enhance POSCO’s competitiveness as major economies impose stricter carbon regulations and buyers demand greener materials.
The rally also coincided with broader strength in South Korea’s KOSPI index, which hit a record high Tuesday driven by semiconductor and battery sector gains. POSCO Holdings benefited from positive sector rotation and spillover enthusiasm, with battery materials-related names also advancing on EV supply chain optimism.
POSCO is scheduled to release provisional first-quarter 2026 earnings and present its full-year business plan on April 30, with a conference call set for 3:00 p.m. Korea Standard Time. The upcoming disclosure has drawn fresh attention, especially after a recent analyst price target increase that lifted some targets by more than 18%. While some firms maintain cautious “Reduce” or “Sell” ratings, the upgraded targets have encouraged traders betting on POSCO’s longer-term value in green steel, rare earths and EV battery materials.
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The company has been actively expanding its footprint beyond traditional steel. Through subsidiary POSCO International, it is building a comprehensive rare earth supply chain, including investments in refining technologies for dysprosium and terbium — critical elements for high-performance electric vehicle motors. A KRW 25 billion corporate venture capital fund supports these efforts, aiming to mitigate geopolitical risks in critical mineral supplies.
POSCO also strengthened ties in India through a joint venture with JSW Steel for a 6 million tons per annum integrated steel plant in Odisha’s Dhenkanal district. The 50:50 partnership is expected to boost India’s steel capacity while deepening technological collaboration between South Korea and India. Additional moves include anode material deals and partnerships for graphite and LFP cathode production, signaling POSCO’s pivot toward battery materials and the broader energy transition.
Stainless steel price hikes implemented in April 2026, driven by rising nickel, ferrochrome and coking coal costs, have helped support margins in select segments. However, the core steel business continues to face cyclical pressures, including global oversupply concerns and fluctuating raw material prices.
Technically, the stock’s breakout above key moving averages has attracted momentum traders. The 200-day moving average served as a significant resistance level in recent months, and its conquest Tuesday signaled potential for further upside in the near term. Volume patterns showed strong buying conviction, with the price closing near session highs.
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Despite the gains, some analysts remain wary. POSCO carries a relatively high price-to-earnings multiple compared with global steel peers, and near-term profitability could face headwinds from energy costs and slower demand in certain export markets. The upcoming April 30 business plan presentation will be closely watched for details on capital allocation, decarbonization timelines and battery materials revenue contribution targets.
POSCO Holdings, formerly known simply as POSCO, has evolved from a pure steel producer into a diversified materials and energy group. Its steel segment remains dominant, but green materials, energy and trading divisions are gaining strategic importance. The company operates world-class facilities in South Korea and maintains international joint ventures across Asia, Australia and beyond.
For investors, Tuesday’s surge highlighted the market’s growing appreciation for companies actively investing in low-carbon technologies. As governments worldwide push for net-zero goals, steelmakers capable of producing green steel at competitive costs could command premium valuations.
The stock’s performance also reflected broader optimism in South Korean industrials. With the KOSPI reaching record territory on semiconductor strength, cyclical names like POSCO benefited from improved risk appetite and expectations of eventual interest rate relief.
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Looking ahead, Q1 2026 provisional earnings on April 23 and the full business update on April 30 will provide critical data points. Analysts expect the company to address progress on its hydrogen reduction projects, rare earth initiatives and any updates on U.S. or Indian expansion plans.
Community and investor sentiment has turned more positive in recent sessions. Online forums and trading apps saw increased discussion around POSCO’s green steel ambitions and potential for margin recovery if raw material costs stabilize.
The company maintains a solid financial foundation, with manageable debt levels and ongoing cash generation from core operations. Dividend yields remain attractive for income-focused investors in the Korean market.
As the trading day closed in Seoul, POSCO Holdings shares held most of their gains, closing at 421,500 won. The move capped a strong session for the stock and reinforced its position as a key beneficiary of both traditional steel demand and the emerging green transition narrative.
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Whether the momentum sustains will depend on execution in the coming quarters and the details shared during the April 30 presentation. For now, investors appear willing to reward POSCO’s strategic vision and visible progress on decarbonization and diversification.
The surge serves as a reminder of the steel sector’s sensitivity to both cyclical factors and long-term structural shifts toward sustainability. POSCO Holdings, with its scale, technology investments and global reach, is well-placed to navigate this dual challenge — a dynamic that helped drive Tuesday’s impressive 8.22% advance.
NEW DELHI: Twitter‘s Public Policy Director for India and South Asia has resigned to pursue other interests, the micro-blogging site confirmed in a statement. The company has also advertised a position for public policy director – India last week.
This comes as the San-Francisco based firm is at the receiving end of the Indian government over an issue of blocking and unblocking certain handles tweeting about farmer protests.
Sources said that the executive — who continues to lead the conversations with the government — Mahima Kaul’s stepping down is not related to the recent controversy.
Monique Meche, VP, Public Policy, Twitter said in a statement “At the start of this year, Mahima Kaul decided to step down from her role as Twitter Public Policy Director for India and South Asia to take a well-deserved break. It’s a loss for all of us at Twitter, but after more than five years in the role we respect her desire to focus on the most important people and relationships in her personal life.” Kaul will continue in her role till the end of March and will support the transition, Meche added.
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“The Public Policy team acts as Twitter’s ambassadors to government policymakers, regulators, and civil society groups on public policy issues. We focus on addressing issues such as advocating for an Open Internet, freedom of expression, privacy, online safety, net neutrality, and data protection to advance the interests of Twitter and our customers. In addition, we serve as the #TwitterForGood team and provide guidance, resources, and support for Twitter’s Corporate Social Responsibility mission,” the company said in its job description on LinkedIn.
“As Twitter’s public policy lead based in India, this you’ll drive and assist development and advocacy of public policy solutions to pressing high technology issues. Specifically, you will manage and build a team of public policy and philanthropy specialists to protect and advance Twitter’s interests in India, it added among other key performing areas.
A United Airlines Airbus A321 plane approaches the runway at Denver International Airport (DEN) on March 23, 2026 in Denver, Colorado.
Al Drago | Getty Images
United Airlines slashed its 2026 earnings outlook Tuesday as it grapples with a surge in jet fuel prices due to the war in the Middle East.
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United said it could earn between $7 and $11 a share on an adjusted basis this year, down from its previous forecast of between $12 and $14 a share that it released in January, more than a month before the U.S. and Israel attacked Iran.
The carrier, like others, is trimming some of its planned flying this year to reduce costs. Wall Street had already been adjusting its expectations for the year as a result. Analysts polled by LSEG had forecast that United’s adjusted, full-year earnings would be $9.58 a share.
For the second quarter, United forecast adjusted earnings of between $1 and $2 a share. Analysts had expected $2.08 a share for the quarter. United estimated its fuel price would average $4.30 a gallon in the second quarter.
The carrier said it expects its revenue to cover between 40% to 50% of the fuel price increase in the second quarter, as much as 80% in the third and between 85% and 100% by the end of the year.
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United reiterated that it is tweaking its schedules to adjust to higher fuel, with capacity in the second half of the year expected to be flat to up about 2% on the year. It grew 3.4% in the first quarter.
Here is what United Airlines reported for the quarter that ended March 31 compared with what Wall Street was expecting, based on estimates compiled by LSEG:
Earnings per share: $1.19 adjusted vs. $1.07 expected
Revenue: $14.61 billion vs. $14.37 billion expected
Revenue, profit climb
Revenue overall rose more than 10%, to $14.61 billion, up from the $13.21 billion from a year before.
For the first quarter, United’s net income rose 80% to $699 million, or $2.14 cents a share, compared with net income of $387 million, or $1.16 cents a share, a year earlier. Adjusted for one-time items, United posted earnings per share of $1.19 a share.
Unit revenue was up in every reported segment, including for domestic U.S. flights, where it rose 7.9% to $7.9 billion from a year earlier, signaling strong pricing power in the quarter.
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“These are results our employees can be proud of, and they show the resilience of our long-term strategy, even in the face of escalating fuel expense,” CEO Scott Kirby said in an earnings release.
Jet fuel in the U.S. was going for $3.51 a gallon on Monday, down from the high on April 2 of $4.78, but far above the $2.39 on Feb. 27, the day before the first attacks on Iran, according to prices assessed by Platts.
Airline executives have said demand has remained robust even while they have increased fares and checked bag fees as they pass along higher fuel prices to customers. The industry has become more reliant on travelers who are willing to shell out more for flights and bigger seats, and who are less affected by price increases.
Alaska Airlines pulled its 2026 forecast on Monday because of higher fuel prices. It has raised fares about $25, CEO Ben Minicucci told analysts Tuesday.
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Merger ambitions?
United CEO Scott Kirby is likely to face questions on the company’s 10:30 a.m. ET earnings call on Wednesday about his ambitions for a merger with another airline.
Kirby floated a potential merger with American Airlines to a Trump administration official earlier this year, according to a person familiar with the matter, but President Donald Trump said he was against the idea.
“I don’t like having them merge,” he told CNBC’s “Squawk Box” on Tuesday morning. He said he would like someone to buy struggling discount carrier Spirit but he also suggested that the federal government could “help that one out.”
American also rejected the idea of a merger with United last week.
US Secretary of State Antony Blinken‘s first videoconference with European Union foreign ministers last month was so good humoured that some diplomats in Europe described it as a “love fest”.
But two senior envoys who attended said there was no direct response from the ministers gathered in Brussels when Blinken said: “We must push back on China together and show strength in unity.”
Their reticence is partly due to an unwillingness to commit to anything until Washington spells out more fully its China policy under President Joe Biden.
But the ministers were also cautious because the EU is looking for a strategic balance in relations with Beijing and Washington that ensures the bloc is not so closely allied with one of the world’s two big powers that it alienates the other.
The EU also hopes to have enough independence from Washington and Beijing to be able on its own to deepen ties with countries in the Indo-Pacific region such as India, Japan and Australia, EU officials said.
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In a new departure for the EU, they said, the bloc hopes to agree a plan next month that involves a larger and more assertive security presence in the Indo-Pacific, and more development aid, trade and diplomacy. “We are charting a third way between Washington and Beijing,” an EU envoy in Asia said.Another EU official in Asia expressed concern that the United States had “a hawkish agenda against China, which is not our agenda”.
‘EUROPE ROADSHOW’ Last month’s videoconference was part of an attempt under Biden to rebuild alliances neglected by former U.S. President Donald Trump, who had an antagonistic relationship with both the EU and China.
The White House has embarked on a “Europe roadshow”, a senior U.S. official said, and is in daily contact with European governments about China’s rising power, in “a sustained effort for … a high degree of coordination and cooperation in a number of areas.”
In a sign that the U.S. push on China is having an impact, Germany plans to send a frigate in August to Asia and across the South China Sea, where Beijing has military outposts on artificial islands, senior government officials told Reuters.
The EU is also set to sanction four Chinese officials and one entity – with travel bans and asset freezes – on March 22 over human rights abuses in China’s Uighur Muslim minority, diplomats said.
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In a further sign, when Chinese President Xi Jinping chaired a video summit with central and eastern European countries last month, six EU member states – Bulgaria, Estonia, Latvia, Lithuania, Romania and Slovenia – sent ministers rather than heads of state.
But there is still distrust in Brussels of Washington’s approach to China, even if attitudes in Europe have hardened against China over Beijing’s crackdown in Hong Kong, treatment of Uighur Muslims and the COVID-19 pandemic, first identified in China.
The United States says China is an authoritarian country that has embarked on a military modernisation that threatens the West, and has sought to weaken telecommunications equipment maker Huawei, which it sees as a national security threat.
The U.S.-led NATO military alliance is also beginning to focus on China, but Biden’s administration is still reviewing policy.
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“We ask what their China strategy is and they say they still don’t have one,” the EU official in Asia said.
French President Emmanuel Macron highlighted concerns in some EU states last month by saying that uniting against China would create “the highest possible” potential for conflict.
‘NO ALTERNATIVE’ But the EU is hungry for new trade and sees the Indo-Pacific as offering huge potential.
The EU has a trade deal with Japan and is negotiating one with Australia. Diplomats say countries in the Indo-Pacific want the EU to be more active in the region to keep trade free and open, and to ensure they are not left facing a straight choice between Beijing and Washington.
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France committed to closer ties with allies such as Australia and India with an Indo-Pacific strategy in 2018, followed by the Netherlands, which also has its own strategy, and Germany’s looser set of “guidelines”.
The EU strategy, if agreed, could involve putting more EU military experts in EU diplomatic missions in Asia, training coast guards and sending more EU military personnel to serve on Australian ships patrolling in the Indian Ocean, diplomats said.
It is unclear how much Germany, which has close business ties to China, will commit to any new strategy. German government officials say the EU cannot afford to alienate Beijing despite labelling China a “systemic rival” in 2019.
But French Foreign Minister Jean-Yves Le Drian will travel to India in April to develop the EU’s Indo-Pacific strategy, and the EU aims to hold a summit with India this year.
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France, which has 1.8 million citizens in Pacific overseas territories, has about 4,000 troops in the region, plus navy ships and patrol boats.
“The Indo-Pacific is the cornerstone of Europe’s geopolitical path,” said a French diplomat. “There’s no alternative.”
Developer says plan will ‘enhance the vitality of the local area’
Ed Barnes and Local Democracy Reporter
16:00, 21 Apr 2026
The Birkenhead site was described as “derelict and overgrown”(Image: Google Street View)
A “derelict and overgrown site” next to a Merseyrail station in Birkenhead could be brought “back to life” as new plans have been put forward. Wirral Council has been told the new plan “supports economic activity” and “enhances the vitality of the local area”.
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Plans have gone into Wirral Council for two commercial units to be built on the ground floor of a new building and one residential flat on the first floor. The development would be built on the corner of Station Road and Stanley Road in the north end of Birkenhead.
The site sits very close to Birkenhead North station, which offers a large park and ride car park as well as Ilchester Park. Diverse Design Collective who have pitched the plans to the local authority said it would be “bringing back to life a derelict and overgrown site in a prominent location”.
The two shops would cover an area of 64 square metres while the first floor flat would be accessed separately. A design and access statement document attached to the application said: “The proposed development site, owned by the applicant, is a large vacant plot that has been derelict and overgrown for some time.”
The document points to a number of buildings in the area including a nearby ASDA and Iceland. According to the planning application, this “provides precedent for more commercial appearing buildings in the context, meaning further commercial units would not appear out of place”.
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The Diverse Design Collective said the plans “seek to open up and utilise a wasted site on a very prominent position within Birkenhead” with a “modest and proportionate” development. They said this “represents an efficient and appropriate use of a vacant urban site”.
Pointing to its computer generated images of how the site would look, the design statement said: “We feel these images adequately show that the proposals not only seamlessly connect with the context in materiality and scale, but subtly provide an engaging street scene that is simultaneously not overly prominent, yet activates the street.”
The document added: “We feel the proposed building would be suitable for the application site and would not feel out of place in scale or appearance to the surrounding dwellings of this area and will not impact the streetscape in any way.
“The proposed high-quality palette of materials would be in keeping with and compliment the character of the area and we feel the overall proposals will be a huge improvement on the appearance of the existing vacant and derelict site in such a prominent position. The predominant use of red brick will respect the surrounding dwellings and character of the adjacent train station, all of which are red brick.”
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