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Oil Higher on Hormuz Escalation, Weighing on Sentiment

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Oil Higher on Hormuz Escalation, Weighing on Sentiment

Rising oil prices weighed on market sentiment in afternoon European trade after Iranian forces fired ballistic missiles on two U.S. Navy warships, representing a fresh escalation in the six-month conflict.

Brent crude oil rose 1.3% to $97.50 a barrel as both the U.S. and Iran ramped up efforts to assert control over the crucial Strait of Hormuz. The U.S. military said it struck three Iranian oil tankers in response to the Islamic Revolutionary Guard Corps attack on American ships.

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Robots Are The Future: The Case For The IBOT ETF

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Robots Are The Future: The Case For The IBOT ETF

Robots Are The Future: The Case For The IBOT ETF

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Government urged to make Cotswold Airport major drone hub and unlock 450 jobs

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A new report says allowing airspace reforms could create jobs and bring investment to the West

'Flying taxi' takes to UK skies for first time

Vertical Aerospace has a base at Cotswold Airport(Image: Vertical Aerospace)

Hundreds of jobs could be unlocked in the West Country if the government uses existing powers to fast-track airspace reforms at Cotswold Airport, a think tank has said.

The Good Growth Foundation (GGF) is urging transport secretary Heidi Alexander to accelerate changes that would allow for more flight testing of drones and other emerging technologies.

The report – A Golden Ticket for Government – argues Cotswold Airport could become a centre for drones, aerospace engineering, testing, advanced logistics and autonomous aviation, creating up to 450 skilled jobs.

Cotswold Airport, near the village of Kemble, is already home ‘flying taxi’ firm Vertical Aerospace. The New York-listed company has a flight test centre at the airport and last month announced plans to build a factory at the site as it moves towards commercial production.

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The GGF report identifies Cotswold Airport as a “strong potential candidate” for airspace reforms because of its aircraft storage and maintenance activity; available operational space; and relatively low-congestion airspace environment.

Praful Nargund, director of The Good Growth Foundation, said: “This is an opportunity to turn Cotswold Airport’s existing strengths into a source of innovation and long-term security for the local community.”

The GGF believes Cotswold Airport should replicate a model being proposed for Lydd Airport in Kent, which has been identified for a ‘special use airspace’ pilot.

It says by having a specific managed airspace area, drones, autonomous aircraft and conventional aviation would be able to operate “safely together, helping to attract investment in the third generation of flight”.

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“The government should back the model at Lydd and replicate it in Kemble to unlock high-skilled jobs and investment,” added Mr Nargund. “This is what good growth in every postcode looks like.”

If the Lydd model is proven, the report argues it could provide a blueprint for other regional sites, including Cotswold Airport.

Tony Vaughn MP for Folkestone and Hythe, said: “This proposal offers a chance to put Lydd on a secure footing for the future, bringing new investment and good jobs for local people while helping to ensure that young people do not have to leave the area to find skilled work.

“I want to see our coastal communities at the front of the queue for the jobs and industries of the future. With the right backing from Government, Lydd can be a powerful example of what that looks like in practice.”

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The think tank is calling on Ms Alexander to issue so-called ‘Air Navigation Directions’ to prioritise and accelerate airspace changes.

“This mechanism could help airports develop new commercial roles in sectors such as drone inspection, logistics, maintenance, aerospace manufacturing, testing, software and airspace-management systems,” the think tank added.

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Jensen Huang declares AGI era has arrived after OpenAI GPT-6 Astra

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NVIDIA CEO Jensen Huang says AI boom just beginning with decade of growth ahead

Nvidia co-founder and CEO Jensen Huang declared that the era of artificial general intelligence (AGI) has arrived after OpenAI released its latest model.

OpenAI on Thursday unveiled the GPT-6 Astra model, which the company said features major improvements in computer use, coding, scientific research and professional work.

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Astra began rolling out to OpenAI’s enterprise customers with Daybreak access with the initial announcement. The company is also rolling it out to ChatGPT Plus, Pro, Business and Enterprise, as well as through the OpenAI API and Amazon Web Services.

Huang wrote a post on X congratulating OpenAI on the breakthrough, saying that it marks the outset of the AGI era.

OPENAI UNVEILS GPT-6 ASTRA WITH MAJOR ADVANCES IN AI CAPABILITIES: ‘NOW IN THE AGI ERA’

Nvidia CEO Jensen Huang speaks during a press conference in Tokyo

Nvidia CEO Jensen Huang said that “AGI has arrived” after OpenAI released its new Astra model. (Tomohiro Ohsumi/Getty Images)

“GPT-6 Astra, trained on ~100K+ NVIDIA Grace Blackwell NVLink72. From ChatGPT to o1 to Astra in 4 years. AGI has arrived. Congratulations @OpenAI team. 400K GPUs coming online next,” Huang said in his post on X.

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AGI lacks a common definition across the tech sector, though it generally refers to an AI system that has human-level cognitive abilities for learning and reasoning, and is able to learn new skills and capabilities without being retrained.

OpenAI defines AGI as “highly autonomous systems that outperform humans at most economically valuable work.”

NVIDIA CEO JENSEN HUANG RIPS ‘THE BAND-AID OFF’ AS AI CHIP GIANT RESETS EXPECTATIONS

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NVDA NVIDIA CORP. 225.73 -4.63 -2.01%

Huang and Nvidia have defined AGI as an AI system that’s able to pass professional certifications and standardized tests across a range of professional fields with scores in the top tier.

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OpenAI President Greg Brockman told reporters before Astra’s launch that the new model is a turning point in the pursuit of AGI, saying that “I think it’s not unreasonable to feel that we are now in the AGI era.”

The company said that Astra can carry out “tedious” computer-based tasks, such as filling out online forms, updating customer records, organizing calendars and conducting research.

OPENAI SHAKES UP CORPORATE STRUCTURE WITH GOAL OF SCALING UP AGI INVESTMENT

OpenAI added that Astra can create documents, spreadsheets and presentations, while it also called it the “best model for software engineering to date” and touted its cybersecurity capabilities.

OpenAI CEO Sam Altman said that one of the model’s capabilities that impressed him the most was Astra’s ability to identify problems that users hadn’t considered.

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“Not only could it excel at doing a bunch of research about, you know, a complex supply chain for chips that we’re trying to produce,” Altman said. “But parts of that task that I didn’t ask it for, it can come back and say, ‘You didn’t think to ask me about this other part of the supply chain.’”

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FOX Business’ Sophia Compton and Reuters contributed to this report.

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Campbell’s plans to boost Snacks business in 2027

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Campbell’s plans to boost Snacks business in 2027

CAMDEN, NJ. — The Campbell’s Co. plans to launch new products and media campaigns for its Snacks business in fiscal-year 2027, but it will take time to turn around the business from its disappointing results in the 2026 fiscal year ended Aug. 2.

In Campbell’s Snacks business, fiscal-year net sales of $3.82 billion were down 6% from $4.07 billion in the previous fiscal year. Operating earnings declined 28% to $386 million from $538 million. The year ended with net sales in Snacks down 12% in the fourth quarter, falling to $950 million from $1.09 billion. Fourth-quarter operating earnings in Snacks plunged 34% to $101 million from $153 million.

National advertising campaigns for 2027 are planned for Goldfish and Pepperidge Farm.

Goldfish consumption declined 1% in the fourth quarter.

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“As we begin fiscal 2027, our investment plans and in-market activity reflect the brand’s central proposition as a wholesome, fun snack for families with kids,” said Mick Beekhuizen, president and chief executive officer of Campbell’s, in pre-recorded comments issued Sept. 3. “Back-to-school activity will include expanded omnichannel investments supporting key family-oriented offerings such as multipacks, alongside a new marketing campaign with playful advertising that reinforces the brand’s family-friendly legacy and ‘the snack that smiles back’ positioning,”

In the fall protein-rich Goldfish will enter the market as will whole grain Goldfish and gluten-free Goldfish.

Cookies campaign

Pepperidge Farm consumption declined 4.4% in the fourth quarter.

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“As we enter fiscal 2027, strong in-store execution and on-shelf availability remain important near-term opportunities, with innovation set to launch in the back half,” Beekhuizen said of Pepperidge Farm, adding that a national media campaign will highlight the rich flavor and indulgence of Pepperidge Farm cookies.

“There is a lot of hard work ahead to turn around our Snacks performance, but our priorities are clear,” Beekhuizen said. “First, we are strengthening our focus and returning to core fundamentals, meeting consumers where they are. Second, we are reducing our costs, tightening our assortment and using our revenue growth management capabilities to improve price-pack architecture and trade efficiencies. Third, we are focusing on core items and every day great execution to improve service, on-shelf availability and productivity.

“This turnaround will take time, and performance may not improve in a straight line, but we are committed to this important simplification work as the first step on our path back to growth.”

AdobeStock_1364456819_Editorial_Use_Only (2).jpg

Innovation in the Snyder’s of Hanover brand will come later in the fiscal year.

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| Photo: ©JAMMER GENE – STOCK.ADOBE.COM

‘Very challenging’ quarter

The first quarter of the current fiscal year will be “very challenging” for the Snacks business, said Todd Cunfer, chief financial officer of Campbell’s, in a Sept. 3 earnings call. The Snacks business is facing two headwinds.

“From a shipment perspective, one point is we shipped ahead of consumption last quarter for some holiday programming that we have to lap, and then we have some trade investment that we have this year that we didn’t have last year,” he said. “So it’s high single-digit down for Snacks in the first quarter.”

He said he expects innovation in Goldfish and Snyder’s of Hanover to improve the business later in the year.

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“Look, the two most profitable brands that we have in the portfolio, the Snacks portfolio, are Goldfish and Snyder’s,” Cunfer said. “If we get those two starting to stabilize and eventually grow, there’s a massive impact on the profitability of this business.”

Camden-based Campbell’s companywide had net income of $403 million, or $1.34 per share on the common stock, in the 2026 fiscal year, which was down 33% from $602 million, or $2.02 per share, in the 2025 fiscal year. Net sales declined 5% to $9.74 billion from $10.25 billion. An additional week in the 2025 fiscal year impacted net sales by an estimated 2 percentage points.

Campbell’s stock price on the Nasdaq closed at $21.38 per share on Sept. 4, which was down 3.4% from a close of $22.12 on Sept. 3 and down 10% from a close of $23.40 on Sept. 2. 

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MF Favourite Smallcaps: 14 stocks that soared up to 220% in CY26

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The Economic Times

Several Nifty Smallcap stocks have delivered stellar returns in CY26, with 28 stocks gaining over 50% so far and five turning multibaggers. A screen of stocks held by more than five mutual fund schemes identified 14 smallcaps that combine strong price momentum with institutional interest.

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Dunelm boss says heatwaves have hit sales as she unveils turnaround strategy

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Furniture retailer’s new chief executive Clo Moriarty is targeting 10 new store openings a year and £100m of cost cuts

Dunelm, in Ocean Plaza Retail Park, Southport

The heatwave kept customers away from Dunelm(Image: Andrew Teebay/Liverpool Echo)

The newly-appointed chief executive of Dunelm has warned that record-breaking summer temperatures have affected her efforts to revitalise the home furnishings retailer.

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Clo Moriarty, who joined the group from Sainsbury’s in October last year, said progress on her new strategy has been hampered by successive heatwaves that have kept shoppers away from the high street in recent months.

She told investors on Tuesday: “As a result of the extended period of unusually hot weather, we saw significantly softer trading in the first six weeks of [this financial year].”

Moriarty said she has “taken a deep and honest look” at the performance of the FTSE-250 group, and on Tuesday delivered its new ‘winning hearts and homes’ strategy to shareholders.

The Leicestershire-based retailer has a “compelling case” for an urgent overhaul, she argued, pointing to a slowdown in sales growth and market share gains in recent years, as reported by City AM.

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“Competition has intensified and the external environment has become more challenging. Inflation and interest rates remain elevated, global uncertainty persists and consumers are understandably more cautious in their spending,” Moriarty said.

Dunelm posted a pre-tax profit of £211m in the year to June, flat on the year before, while revenue edged up by 3.1 per cent to £1.8bn. The former Sainsbury’s technology chief will spearhead a significant expansion of Dunelm’s store portfolio, with plans to open approximately 10 new sites annually over the next three years, backed by £125m in fresh capital investment.

The retailer will look to boost both the loyalty and spending habits of its current customer base by strengthening its reputation for value and streamlining its product offering.

Dunelm holds the top position in the UK’s £25bn homeware and furniture market, yet acknowledges that just 15 per cent of the population shop regularly at its stores.

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Even among its most devoted customers, research has revealed that 80 per cent of their homeware expenditure continues to be directed elsewhere.

“We want to reach new customers and deepen our connection with existing ones, earning more loyalty and becoming the specialist they turn to for every mission in the home, whether they are refreshing a room, solving a practical problem, or creating a space they love,” Moriarty said.

Moriarty also outlined plans to harness artificial intelligence more effectively to streamline the firm’s supply chain, working with a more concentrated pool of suppliers.

The group has set its sights on delivering £100m in cost savings over the next three years. Wage inflation has proved a considerable “headwind” for the business, with staff costs climbing by £85m over the past four years.

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Moriarty acknowledged her turnaround strategy will also encounter resistance from the “challenging” retail climate confronting Britain’s high street retailers.

“Geopolitical uncertainty, elevated interest rates and inflation, and a changing UK political landscape continued to weigh on consumer confidence,” she said.

Britons are shopping “more selectively,” particularly in discretionary categories such as homeware, and are increasingly seeking out promotional offers.

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Reddit, Inc. (RDDT) Presents at Goldman Sachs Communacopia + Technology Conference 2026 Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript