Shares of Space Exploration Technologies Corp., the parent company known as SpaceX, fell 3.11%, or $4.46, to $138.88 as of 9:56 a.m. EDT Wednesday, as investors braced for a major insider share unlock scheduled for Thursday while a broader selloff across high-growth technology names continued to weigh on the stock.

Wednesday’s decline extends a choppy stretch for the newly public aerospace and satellite communications company, which has whipsawed sharply in both directions since debuting on the Nasdaq earlier this summer. According to Yahoo Finance, an additional tranche of roughly 319 million shares becomes eligible for sale beginning Aug. 20, a development that has created immediate downside risk from potential insider profit-taking and an expansion of the stock’s available trading float as it rebounds from earlier lows.

The company’s initial post-IPO trajectory has been notably volatile. SpaceX shares priced at $150 at their market debut before falling roughly 30% from that level in the weeks that followed, hitting a closing low of $108.37 in late July, according to Yahoo Finance. From that low point, the stock climbed sharply, moving from the $108-to-$116 range in late July to the mid-$140s by mid-August, before pulling back again in recent sessions amid the broader market pressure now weighing on high-growth technology stocks. The 52-week trading range for the stock spans from $104.83 to an all-time high of $225.64, according to Investing.com, illustrating both the scale of the stock’s initial surge and its subsequent significant pullback.

According to TradingKey, Wednesday’s pressure on SpaceX and similar high-growth names reflects broader macroeconomic headwinds affecting long-duration growth assets, including escalating geopolitical tensions, persistent inflation concerns and rising energy costs, all of which have prompted a market-wide shift toward more defensive positioning. As investors reallocate capital away from high-beta growth stocks, companies like SpaceX, which carry premium valuations tied to long-term growth expectations rather than current earnings, have tended to experience outsized declines relative to the broader market.

Newly added tariff pressure has also factored into the stock’s recent weakness. According to reporting from Timothy Sykes’ market analysis, new U.S. tariffs ranging from 10% to 12.5% on imports from 60 countries have added macroeconomic risk for globally exposed companies such as SpaceX, even as the company continues to sign new commercial contracts. Earlier this week, SpaceX agreed to launch satellites for Vietnam-based VinSpace on a 2027 Transporter rideshare mission, though the announcement did little to offset the stock’s broader downward drift, with shares still falling roughly 3.2% on the day that contract was announced, according to the same analysis, suggesting traders have been discounting smaller individual contract wins amid the larger macro-driven selloff.

SpaceX’s financial profile continues to reflect a company balancing rapid growth against substantial ongoing investment. According to TradingKey, the company’s second-quarter capital expenditures tied to artificial intelligence initiatives reached $15.83 billion, a figure that exceeded AI-related revenue for the period by more than sixfold, contributing to negative free cash flow of approximately $25 billion for the first half of 2026. That spending reflects SpaceX’s continued expansion beyond its traditional rocket launch and Starlink satellite internet businesses into artificial intelligence infrastructure, following the company’s early 2026 acquisition of xAI, Elon Musk’s artificial intelligence venture, which operates the large language model Grok, a gigawatt-scale data center called Colossus, and the social media platform X.

That expansion into AI has drawn significant institutional investor interest even amid the stock’s recent volatility. Nvidia disclosed a $21 billion stake in SpaceX as of the end of the company’s second quarter, according to CNBC, underscoring the scale of strategic capital flowing into the company from major technology industry players. Separately, wealthy family offices have reportedly built substantial positions in the stock ahead of Thursday’s share unlock, with such investors holding a combined $3.8 billion in SpaceX shares, according to Yahoo Finance, even as Musk himself has cautioned investors to expect continued short-term volatility given the company’s heavy spending on ambitious, capital-intensive projects.

Wall Street analysts have remained broadly positive on the stock despite its recent swings. According to Investing.com, 28 analysts currently recommend buying SpaceX shares, while just two recommend selling, resulting in an overall consensus rating of buy. The average 12-month price target for the stock sits at $222.73, with estimates ranging as high as $450 and as low as $117, reflecting significant disagreement among analysts regarding the company’s appropriate near-term valuation even as most maintain a broadly bullish long-term outlook. That average price target implies potential upside of more than 55% from current trading levels, according to the same data.

SpaceX’s most recent quarterly results showed annual revenue of $18.67 billion, ranking the company among the largest players in the telecommunications services industry by that measure, though the company posted a net loss of $4.94 billion for the same period, according to TradingKey, underscoring the continued gap between SpaceX’s substantial top-line growth and its current profitability as it invests heavily across both its traditional space launch business and its newer AI infrastructure ambitions.

Morningstar has offered a similarly nuanced assessment of the company’s valuation, noting that while SpaceX has transformed the economics of space launch and maintains a commanding, decade-long lead over most competitors in orbital payload delivery experience and volume, the company’s “aggressively lofty valuation implies investors will have to wait decades for earnings to grow into SpaceX’s multiples,” according to the firm’s analysis.

With Thursday’s 319 million-share unlock looming and broader macroeconomic pressures continuing to weigh on high-growth technology stocks more broadly, investors are likely to watch closely how SpaceX’s stock performs in the immediate aftermath of the unlock, given the potential for significant additional share supply to enter the market at a moment when the stock is already trading well below its all-time high and continuing to exhibit the kind of sharp, rapid swings that have characterized its trading since its debut earlier this summer.

The fallout from the war in Iran cranked up the heat on households last month as energy bills rose – how uncomfortable could inflation get from here?

The first thing to remember is that a small amount of price rises is normal. It is the sign of a healthy, functioning economy.

But with food alone costing a third more than it did four years ago, thanks to a spike in inflation early in the war in Ukraine, it can feel a battle to make ends meet.

The good news is inflation since the war in Iran erupted has actually been more muted than economists initially feared.

In part, that’s been because energy prices have not been as aggressive. Also higher energy costs haven’t materialised in items such as food – inflation there, at 1.3%, is at actually at its lowest for close to five years.

Meanwhile wages and benefits have typically been outpacing inflation this year, lessening the squeeze for many – so far.

But existing energy cost pressures may push up the likes of food, and other prices, at a faster pace in coming months as they take many months to pass through supply chains.

In fact, economists expect inflation to take a further step up, to hit around 3.5% later in the year.

That is likely to add to the pressure on new Prime Minister Andy Burnham and his Chancellor John Healey to provide more help in the run-up to the Budget, in addition to what’s already been given.

However, any help will have consequences, either in the form of more taxes or less resources for parts of the public sector.

Some have queried if it would be merited.

While energy bills are likely to take a step up in October, the current forecast suggests they will be the best part of £1,000 less than the peak reached after the Ukraine war began.

Talking of bills, what of mortgages and where does this leave the Bank of England?

Remember, interest rate changes take a while to impact prices. The Bank of England sets rates to influence future inflation.

There is little in these figures to change the Bank’s belief that inflation will come down to its 2% target in the medium-term.

Actually, the fact that the likes of food inflation has remained muted may give the Bank of England hope that price pressures remain fairly contained.

Meanwhile, flat jobs data and moderate wage growth may lead it to think that firms have little opportunity to get away with hiking up prices.

So some analysts think interest rates may not rise this year – but there are still risks they do, especially if inflation accelerates by an unexpected amount.

Price pressures are lingering in other areas such as services, so there is always a danger inflation does rise by more than analysts expect later in the year.

The biggest risk of all is that the conflict in the Middle East drags on, which could threaten further upheaval in energy markets and push inflation higher than anticipated.

It is likely to remain a fraction of the pace seen at the start of the war in Ukraine but would leave Burnham, the Bank of England and most of all households with a fresh set of headaches.

Meanwhile Airbus, the aerospace manufacturer, said it has started work on a major extension to its wing factory in Belfast.

The 6,221 sq m extension will allow the company to increase production of wings for the A220 passenger jet.

The facility will house a new autoclave, effectively an industrial pressure-cooker which is used in the manufacturing of the composite wings.

The company is also adding high-voltage electrical substations, a new office block, and is expanding its car park.

“Enhancing our wing facilities is a direct investment in the future of A220 wing production here in Belfast, building the capacity required to meet the growing demand for this aircraft,” said Anthony Rouse, Head of Airbus Belfast Plant and Site.

“This commitment is also reflected in our ongoing skills development, including bringing onboard 40 new apprentices who will start in September this year.”

It has acquired a building on Blue Street

Swansea Building Society is relocating its Carmarthen office to a newly acquired building on Blue Street in an investment underlying its commitment to having a high street presence.

Work transforming the building is expected to be completed by the end of February next year.

The mutual, which at the end of 2026 had total assets of £715m, currently employs 15 people at its Carmarthen office and expects this number to increase once the new premises are open.

Swansea Building Society first established an office in the town in October 2015 and has operated from its current rented premises at 13–14 Lammas Street since then. T

The purchase of the Blue Street building represents a significant long-term investment in the town with the mutual saying it underlines confidence in the continued growth of its Carmarthen operation.

The new premises, which will open next March, will provide approximately 4,284 square feet of space.

Chief executive of Swansea Building Society, Alun Williams, said: “Since opening our Carmarthen office in 2015, we have been delighted by the strong support we have received from customers across Carmarthenshire and the wider West Wales region.

“The success of the office has enabled us to grow our team and expand our presence in the town, and we are now reaching the point where we need additional space to support the next stage of that growth.

“Over that time, we have also seen a number of high street banks, including Co-op/Britannia, Halifax and TSB, close their branches in Carmarthen. We believe that maintaining a strong physical presence in the town is increasingly important, and our investment in new premises reflects our commitment to providing customers with access to a local, face-to-face service.

“Purchasing our own premises on Blue Street is an important investment in the future of our Carmarthen operation and demonstrates our long-term commitment to the town and its communities. The new office will provide us with the capacity to expand our team, further develop the services we offer and continue delivering the personal, face-to-face service for which Swansea Building Society is known.

“We are very much looking forward to seeing the building transformed over the coming months and welcoming customers to our new Carmarthen office in March 2027.”

Sioned Jones, area manager West Wales at Swansea Building Society, added:“Having been based in Carmarthen and seen the branch grow over the past eleven years, it is wonderful to be taking this exciting next step. We have built strong relationships with customers and the wider business community, and the continuing success of the branch reflects the value which people place on face-to-face service and local presence which Swansea Building Society provides.

“Our new Blue Street premises is both large and prominently located on one of the busiest approaches to the town centre. It will give us the space and facilities we require to support future growth, expand our team and continue to welcome the increasing numbers of customers visiting from all parts of West Wales – Ceredigion, Pembrokeshire and Carmarthenshire. It is an exciting investment for our future in Carmarthen, and we are all looking forward to seeing the new premises take shape.”

Thailand’s Tourism Authority concluded international creator journeys in Phuket and Phang-nga, showcasing Thailand’s surf and wellness experiences. This promotes “Healing Is the New Luxury” through Thailand Surf Therapy initiatives.

Thailand’s New Tourism Initiative

On 14 August 2026, Bangkok witnessed the conclusion of an innovative tourism initiative by the Tourism Authority of Thailand (TAT). The Amazing Thailand Surf & Wellness Journey and Amazing Thailand x Insta360 creator itinerary encompassed a unique blend of experiences in Phuket and Phang-nga. These journeys showcased Thailand’s surf, wellness, and cultural offerings, adhering to TAT’s “Healing Is the New Luxury” theme. Media representatives and global creators from diverse markets were immersed in activities promoting physical and mental well-being, spotlighting Thailand’s unique approach to meaningful travel.

Engaging with Wellness and Surf Therapy

In line with Thailand Health Excellence 2026, TAT’s new initiative incorporates Thailand Surf Therapy, utilizing international concepts from Waves for Change. This approach is structured as a wellness experience emphasizing surfing, mindfulness, and positive social connections rather than medical treatment. From 8–13 August, participants, including several international influencers, engaged in a series of activities, combining wellness at places like Devasom Khao Lak with adventure experiences like forest bathing, kayaking, and cultural tourism in Takua Pa.

Building Experiences for Global Markets

Participants actively contributed content across platforms, enhancing the international visibility of these wellness experiences and the Amazing Thailand brand. Simultaneously, the Insta360 partnership involved creators from different Asian countries in activities under the same wellness narrative. On 9 August, a networking dinner facilitated connections between participants and local tourism stakeholders. TAT aims to develop these experiences into market-ready products, highlighting Thailand’s increase in capacity for hosting wellness-focused tourism. This initiative underscores a shift towards tourism that enriches travelers through authentic, engaging experiences.

Source : TAT showcases Thailand Surf Therapy to global audiences under Healing Is the New Luxury

‘Select has been a trusted partner to Ramside for many years and already provides much of the Wi-Fi, networking and communications infrastructure’

The owner of some of the North East’s best known hotels and bars has snapped up a tech firm.

Hospitality group Ramside Estates – which operates Ramside Hall Hotel and Golf Club, Hardwick Hall, Bowburn Hall, The Fed and bars in Newcastle and Sedgefield – has consolidated its future growth plans with the acquisition of Select Telecom Limited.

Based in Brunswick Village, Newcastle, the firm been a long-standing supplier to Ramside, providing ongoing support across the group by providing Wi-Fi, connectivity and communications among other services.

The group says that reliable connectivity – including guest WiFi, operational systems, payment technology, hotel systems, events, conferences, offices and other digital services – is now fundamental to virtually every area of Ramside’s operations.

It says the acquisition of a company with which it already has a strong and established relationship, will not only protect Ramside’s critical infrastructure but also give the business greater control over its development, resilience and ongoing support.

Bosses said the deal also brings specialist expertise into the wider group, helping Ramside design technology and connectivity into developments from the start.

Select will continue to operate as a telecommunications business, serving its existing and future customers.

Martin Smith, head of finance at Ramside Estates Ltd, said: “Select has been a trusted partner to Ramside for many years and already provides much of the Wi-Fi, networking and communications infrastructure across our business.

“As our reliance on technology and connectivity continues to grow, particularly alongside the significant investment we are making across the Group, bringing that expertise closer to the business makes a great deal of strategic sense.

“What particularly attracted us to Select was that we already knew the business, the quality of its people and the service it provides.

“This acquisition isn’t simply about supporting Ramside, however. Select has a strong and established customer base of its own and we see a real opportunity to invest in the business, support the existing team and help Select continue to grow as part of the wider Ramside Group.”

Last month Ramside Estates published its accounts for the year ended November 2025, highlighting new leisure additions. Revenues rose to £37.4m – up by £300,000 on the previous year – while gross profit stood at £30.64m, up from £30.27m. Operating profit dropped from £2.44m to £1.88m, and pre-tax profit fell to £2.05m from £2.6m, a figure the firm said was primarily driven by higher golf course costs associated with new drainage and maintenance works.

The directors also highlighted new additions including the new leisure facility at Ramside Golf Club called The Pin, which it said “represents a strategic diversification of the group’s leisure offering”.

X Money, the financial arm of Elon Musk’s social media platform X, is pitching users a 6% annual yield on cash deposits, a rate significantly higher than what most traditional banks and even top-tier high-yield savings accounts currently offer, though the fine print behind the headline number has drawn scrutiny from at least one U.S. senator.

Launched in beta to select Premium+ subscribers in late June, X Money offers a 6% annual percentage yield on cash deposits with no stated minimum balance requirement, along with FDIC insurance protection. According to the app’s structure, standard deposits are held at Cross River Bank, a New Jersey-based, FDIC-member institution, providing the baseline $250,000 in federal deposit insurance coverage available to any standard bank account. For eligible Premium+ subscribers, X Money also offers an enhanced protection option through what the company calls its X Cash Sweep Program, which automatically distributes larger account balances across a network of partner banks, keeping each individual slice under the $250,000 insurance threshold to reach total aggregate coverage of up to $10 million, roughly 40 times the protection offered by a typical single bank account.

By comparison, the national average savings account rate currently sits at just 0.38%, according to the Federal Deposit Insurance Corporation, meaning $10,000 left in a typical savings account for a year would generate only about $38 in interest, roughly the cost of a single cup of coffee per month. Against that backdrop, X Money’s 6% headline rate represents a dramatic departure from what most consumers are accustomed to earning on idle cash.

Beyond the yield itself, X Money includes several other features positioning it as a broader alternative to traditional banking products. The service offers unlimited 3% cash back on eligible purchases made with a personalized, laser-engraved metal Visa debit card that can display a user’s X handle, along with no foreign transaction fees, free ATM withdrawals, peer-to-peer transfers to other X accounts, bill payment functionality, wire transfers and even check mailing directly from within the app. The service also supports early direct deposit, allowing paychecks to arrive up to two days ahead of a traditional payment schedule, and automatically routes all creator payouts earned on the X platform directly into users’ X Money accounts by default.

Benji Taylor, head of design at X and Musk’s artificial intelligence company xAI, confirmed in a video presentation that deposits would be held at Cross River Bank “and at other FDIC-insured institutions” as part of the sweep program structure. That kind of multi-bank sweep arrangement is not itself a new concept in banking; wealthy individuals and businesses have used similar structures for years to extend deposit insurance coverage beyond the standard $250,000 limit at any single institution. What distinguishes X Money’s approach is the scale at which the company is offering the enhanced protection to a broader base of subscribers, alongside a yield well above prevailing market rates.

The unusually high yield has attracted attention from federal lawmakers. Sen. Elizabeth Warren has raised questions about how Musk’s platform can sustainably offer a rate that no traditional bank in the country currently matches, according to reporting on the product’s rollout. Her inquiry reflects broader questions circulating among financial analysts and consumer advocates regarding the underlying economics of the offering, given that banks typically generate the revenue needed to pay depositor interest through lending activities, and it remains unclear precisely how X Money’s rate is being funded or how long the company intends to sustain it at current levels.

Regulatory attention extends beyond Warren’s individual inquiry. According to coverage of the product’s launch, the Consumer Financial Protection Bureau, the FDIC and various state regulators are already focused more broadly on so-called banking-as-a-service arrangements, sometimes referred to as “rent-a-charter” models, in which technology companies partner with FDIC-insured banks to offer bank-like products without becoming banks themselves. Regulators have also expressed concern in recent years about companies potentially misrepresenting the scope or nature of deposit insurance protections to consumers. Given those existing regulatory priorities, analysts have suggested X Money is likely to face close supervisory scrutiny even if no formal enforcement action has yet been initiated against the company.

It is important to note what the FDIC insurance attached to X Money deposits does and does not cover. The insurance protects depositors’ funds in the event that one of the partner banks holding their money fails, consistent with standard federal deposit insurance protections available at any FDIC-member institution. It does not, however, extend to X or X Money itself as a company, meaning the insurance framework applies specifically to the underlying banking partners rather than to Musk’s broader platform or business operations.

X Money’s launch represents the culmination of a payments initiative Musk has publicly discussed since rebranding Twitter as X, positioning the product as a potential challenger to both traditional megabanks such as JPMorgan Chase and Bank of America, as well as fintech competitors including SoFi Technologies and Robinhood Markets. The rollout has so far been limited to a controlled group of Premium+ subscribers, consistent with Musk’s history of gradually expanding new product access rather than launching features to the platform’s full user base immediately. Musk has previously indicated X Money could become more broadly available to the general public, though the exact timeline for a wider rollout has not been confirmed, and Musk has a well-documented history of announcing product timelines that ultimately extend well beyond his initial projections, a pattern some observers have referred to as operating on “Elon Time.”

For consumers considering the product, financial commentators have generally advised treating the offering with the same scrutiny applied to any high-yield financial product promising returns well above prevailing market rates, particularly given the outstanding questions regulators and lawmakers have raised regarding the sustainability of the 6% rate and the broader regulatory framework governing how technology companies operate bank-like financial products in partnership with traditional chartered institutions. As X Money continues its phased rollout, further regulatory scrutiny and potential responses from Warren’s office or federal banking regulators are likely to shape how the product evolves and whether its current rate structure proves durable over the longer term.