Quantum computing could give the U.S. and its allies a new tool in their effort to reduce reliance on China for critical rare earth elements, with one technology company betting the emerging technology can make extracting and processing limited Western supplies more efficient.

Pasqal is partnering with USA Rare Earth and Riven Systems to explore how quantum computing, artificial intelligence and rapid chemical testing can improve the separation and processing of rare earth elements.

Pasqal CEO Wasiq Bokhari told FOX Business that the goal is essentially to get more usable rare earth material out of the resources already available outside China.

China, Bokhari explained, has significant control over global rare-earth supply and processing, while the U.S. and its allies are seeking to develop alternative supply chains for materials used in magnets, electronics, defense systems and advanced manufacturing.

TOP AI COMPANIES CALL FOR SAFETY MEASURES WHILE CRITICS WARN REGULATION COULD STIFLE INNOVATION

“When we have smaller reserves, then it becomes even more important to be more efficient at finding that element,” he said.

Because rare earth elements generally aren’t sitting underground by themselves, and are mixed with other minerals, chemically separating them can be a complicated process.

Bokhari said quantum computing can model the molecules and compounds containing rare earths at a deeper level, potentially helping researchers identify properties that can be exploited to separate the valuable material more efficiently.

“What we can do is we can create models of the molecules or the compounds that these rare earth elements occur in… be able to identify their specific properties that we can exploit to then separate them more effectively from other things that are not so rare,” he said.

AI EXPERT WARNS ‘MACHINE-SPEED’ CYBERTHREATS MAY REQUIRE FASTER DEFENSES THAN HUMAN-LED RESPONSES

Pasqal is partnering with USA Rare Earth, which brings rare-earth resources and processing expertise to the project, and Riven Systems, which specializes in rapid chemical experimentation and testing.

Bokhari said the effort highlights how the U.S. and its allies can combine advanced technologies to reduce their dependence on foreign-controlled critical supply chains.

The implications could extend well beyond mines and processing facilities, Bokhari said, because rare earths are used in critical technologies ranging from defense systems to advanced electronics.

“There are these elements, these specific materials, and currently we have to buy them from China. Now suppose if we get into a sensitive situation in which we still need those materials, but now somebody else has control over them,” he said.

“They can constrict supply, which means we will not have access to those materials for our defense-related or non-defense-related applications,” he continued.

“During the COVID era, we saw what collapse of a supply chain could do globally. This is even more important because these are highly leveraged supply chains and going into very high-value components.”

FORMER SECRET SERVICE CYBERCRIME EXPERT WEIGHS IN ON PRIVACY AFTER HACKERS BREACH STOLEN FLOCK CAMERA

Even relatively small improvements at individual stages of the separation process could compound into significantly greater yields, Bokhari said.

“For every ton of rock that I put in, I want to get certain amounts of rare earth elements. And if I can improve that by a factor of two, factor of three, factor of 10, that matters a lot.”

Ticker	Security	Last	Change	Change %
PSQL	PASQAL HOLDING SA	6.99	-0.35	-4.77%

While traditional computers are superb at many tasks, Bokhari said quantum systems can have advantages when modeling materials, chemicals and molecules or searching through enormous numbers of possible solutions.

Bokhari compared quantum computing today to artificial intelligence (AI) before ChatGPT and other generative AI tools pushed the technology into mainstream consciousness.

BANKS WARN AI SHOPPING AGENTS COULD INCREASE RISK OF SCAMS, FRAUD AND DATA PRIVACY BREACHES

“It was working under the radar for the longest time,” he explained. “And then suddenly, there’s this aha moment, ‘Oh, this has something that I can relate to.’”

“I would say as a comparison, quantum computing is only a few years behind,” he added. “I think we will see in terms of the kind of impact we can generate from quantum computing, it is the same size of impact that you will see from Gen AI. We’re just a few years behind.”

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Bokhari pushed back on the perception that practical quantum computing remains the stuff of science fiction.

“Please don’t think of quantum computing as something that might be in the future. For Pasqal, it is here today,” Bokhari said. “In the end, it’s solving real business problems today.”

Invesco is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life.Be the first to know! Sign up for Invesco US Blog and get expert investment views as they post.Disclosure for all Invesco US articles: Before investing, carefully read the prospectus and/or summary prospectus and carefully consider the investment objectives, risks, charges and expenses. The information provided is for educational purposes only and does not constitute a recommendation of the suitability of any investment strategy for a particular investor. Invesco does not provide tax advice. The tax information contained herein is general and is not exhaustive by nature. Federal and state tax laws are complex and constantly changing. Investors should always consult their own legal or tax professional for information concerning their individual situation. The opinions expressed are those of the authors, are based on current market conditions and are subject to change without notice. These opinions may differ from those of other Invesco investment professionals. NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE All data provided by Invesco unless otherwise noted. Invesco Distributors, Inc. is the US distributor for Invesco Ltd.’s retail products and collective trust funds. Invesco Advisers, Inc. and other affiliated investment advisers mentioned provide investment advisory services and do not sell securities. Invesco Unit Investment Trusts are distributed by the sponsor, Invesco Capital Markets, Inc., and broker-dealers including Invesco Distributors, Inc. PowerShares® is a registered trademark of Invesco PowerShares Capital Management LLC (Invesco PowerShares). Each entity is an indirect, wholly owned subsidiary of Invesco Ltd. ©2015 Invesco Ltd. All rights reserved.

BUENOS AIRES — Argentina coach Lionel Scaloni revealed he personally pushed to bring Lionel Messi back for one final appearance with the national team, arranging a farewell match against Benin at Monumental Stadium on October 6, despite Messi having already announced his international retirement following this summer’s World Cup.

Messi announced his retirement from international football after Argentina’s 1-0 defeat to Spain in the World Cup final, closing out a career with the national team that stands as one of the most decorated in the sport’s history. He retires as Argentina’s all-time leading appearance-maker with 207 caps and its all-time leading scorer with 125 goals, while having captained the team to the 2022 World Cup title and two Copa America championships.

Messi’s World Cup record stands alone across several statistical categories. The 39-year-old has played more World Cup games, 34, and registered more World Cup goal involvements, 33, including 12 assists, than any other player in the tournament’s history. Only Kylian Mbappe, with 22 goals, has scored more World Cup goals than Messi’s own tally of 21. The eight-time Ballon d’Or winner also leads the all-time World Cup charts in shots, with 140, shots on target, with 64, chances created, with 99, and dribbles completed, with 250.

Despite his retirement announcement, Messi was called up to Scaloni’s most recent Argentina squad and will make one final appearance for his country against Benin. Scaloni explained the reasoning behind bringing Messi back for the occasion. “I believe that a player like him deserves this. Personally, I did my part because I wanted to be at his farewell,” Scaloni told reporters.

Scaloni acknowledged uncertainty about his own future with the national team factored into the urgency of arranging the match now rather than waiting. “Since I don’t know if I would be here later, we pushed hard so that he could be in this match,” Scaloni said. He described Messi’s willingness to participate despite the demands already placed on him this year. “We knew everything he was going through and even so, he put in the desire and effort to want to come and be able to say goodbye to the people who love him so much.”

Scaloni framed the timing of the tribute as essential, given the uncertainty of arranging a similar occasion in the future. “If we have to pay tribute, we have to do it at this moment,” he said. “With him, it will never stop, but later, the magic might not be the same.”

Messi’s on-field legacy with Argentina includes delivering the country’s first World Cup title since 1986, scoring twice in the penalty shootout that decided the 2022 final against France following a 3-3 draw after extra time. He followed that triumph with what Scaloni and others have described as a similarly sensational performance at this summer’s tournament, scoring eight goals, including his first-ever World Cup hat-trick, which came against Algeria.

Reflecting on the experience of coaching Messi throughout his tenure, Scaloni offered an emotional assessment of what the partnership had meant to him personally. “For me, getting to coach him was the ultimate experience. It was a dream. I told him so, and I’ll say it for the rest of my life. There will never be anyone like him,” Scaloni said. He went on to describe what he sees as the rarity of a talent like Messi’s. “It’s very rare for a player like that to come along, not just because of what he does on the pitch, but because of everything he conveys off it. Let’s enjoy this.”

Scaloni also weighed in on Messi’s case for individual recognition following this summer’s tournament, suggesting the statistical record speaks for itself. “After the World Cup he just played, there isn’t much more to add. If the award is for the best player, there’s no doubt. It’s already spoken for, the statistics prove it,” Scaloni said. “As long as he’s on a football pitch, it’s hard to argue that he doesn’t deserve it.”

While Messi’s international future is now settled with the announced farewell match, the same cannot be said for Scaloni himself, whose contract as Argentina’s head coach is set to expire this December. Asked whether he had received any update on his own future with the federation, Scaloni said he planned to meet with Argentine Football Association president Claudio Tapia in the coming days to discuss the matter. “It is a dream come true, but that doesn’t mean I have to cling to the job forever,” Scaloni said. “There are certain conditions we need to discuss with the president, and we’ll see if we can reach an agreement.”

With Messi’s farewell match now set for October 6 at Monumental Stadium in Buenos Aires, Argentine football fans will have one final opportunity to see the sport’s most decorated World Cup performer represent the national team, closing out a international career that Scaloni and others have suggested may never be matched by another player in the sport’s history.

Likely regulatory intervention helped the Indian rupee gain 15 paise to close at 95.81 against the US dollar on Friday, bouncing back from the intra-day low of 95.94 and the previous close of 95.96, while the benchmark bond yield rose to 7.14%, the highest level seen in the past four months.

Market participants said large public sector banks were seen selling dollars at the behest of the Reserve Bank of India (RBI) in a market with thin volume, helping the local currency recover from the near the 96 level despite global crude price hovering near $105 a barrel and raising the risk of imported inflation.

The RBI was active in the market even before the opening of the day’s trade, boosting the rupee to a stronger opening of 95.90 per dollar, traders said.

During the day, the RBI used dollar-rupee sell-buy swaps to absorb rupee liquidity from the inter-bank system, two people said.

Exporters also sold dollars while the one-year forward premium increased to 3.5%, a level not seen since the last week of May.

“RBI deputy governor Poonam Gupta’s remark that the rupee was overcorrected, making a case for appreciation, should stabilise the rupee,” the treasury head of a private bank said on condition of anonymity. “At least the pace of depreciation should moderate.”
The rupee had been weakening for the past couple of days due to these concerns and high dollar demand from importers, who were mopping up the US currency ahead of a likely bank strike to secure month-end payments.”The rupee remains under pressure from external financing requirements, changing capital flows and a higher global cost of capital,” said Siddharth Chaudhary, head- fixed income at Bajaj Asset Management.

“In this environment, a significant decline in domestic interest rates could work against currency stability. This may reduce the room for monetary accommodation and require real yields to remain higher than domestic inflation conditions alone would otherwise suggest,” he said.

The benchmark 10-year bond yield hit 7.14% earlier in the day before the auction, its highest intraday level since May 20, before easing a tad. The yield closed at 7.11% on Thursday.

This is in line with the global yield tightening. The US 10-year treasury yield rose above 5.20%, its highest since 2007. Japan’s 10-year yield rose to 3.115%, a level last seen in August 1996, while

Germany’s 10-year yield, a benchmark for the euro zone, hit a 17-year high of 3.5798%, Reuters reported.

This article was written by

Analyst’s Disclosure: I/we have a beneficial long position in the shares of INMD, NVO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Costco on Thursday said it received $184 million in tariff refunds in the company’s fourth quarter, the majority of which was reinvested into lower pricing for members shopping at the retail giant’s warehouses.

The big box retailer said the lower pricing from tariff refunds was applied to a range of everyday items, including food and beverages, as well as other product categories.

Costco CEO Ron Vachris said on the company’s earnings call that the company “received some initial tariff refunds in the fourth quarter, and we reinvested some of these dollars to give value back to our members.

“This was predominantly through price reductions on a number of items in the second half of the quarter, including everyday items in produce, meat and beverages and some nonfood items such as home furnishings and hardware.”

WALMART SAYS IT WILL USE BILLIONS IN TARIFF REFUNDS TO KEEP PRICES LOW

Costco CFO Gary Millerchip added that the company views the pricing reinvestments as “very much a giving value back to our members for the tariff refunds that we received.

“Our goal was to make sure that we spread those as we could to items that would have the most impact for members. … Quite a few everyday items were impacted.

“We did also invest some dollars into a number of nonfood areas where tariffs would have had an impact on those items, in particular, when the IEEPA tariffs were originally introduced,” he added.

HOW SHOULD BUSINESSES APPROACH TARIFF REFUNDS?

Millerchip said Costco received $184 million in tariff refunds in the company’s fourth quarter, which consisted of $174 million in refunds and $10 million in interest.

He added that amount represents a little over one-third of the total tariff refunds that Costco expects to receive, adding the company had already received a similar amount of refunds in the first quarter.

“We intend to continue reinvesting the majority of the dollars we receive in increased member values. As tariff refunds and tariff refund reinvestments are nonrecurring items that will continue to impact our financial results in fiscal year 2027, we plan to provide a similar level of information about the net impact on future quarterly earnings calls,” Millerchip said.

TRUMP ADMIN TO BEGIN REFUNDING $166B TO BUSINESSES IN WAKE OF SUPREME COURT DECISION

Ticker	Security	Last	Change	Change %
COST	COSTCO WHOLESALE CORP.	922.76	+26.29	+2.93%

Vachris was asked about the impact of tariffs on Costco’s offerings last year since the company had to remove a number of items from stores and replace them with other SKUs.

He said it “really was most impactful in the first, second quarter, died off a little bit in the third quarter that we got back to a little bit more normalcy.”

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Three young professionals in running for 2026 ProCon Leicestershire property and construction awards

Three young professionals have made the final of the Rising Star of the Year category in the 2026 ProCon Leicestershire property and construction awards.

All three are under 30 years old and work for member companies of ProCon Leicestershire. The Rising Star category is sponsored by Galliford Try and is one of seven in this year’s 23rd ProCon Leicestershire Awards.

The Rising Star of the Year finalists are:

Cory Staton, HSSP Architects

Cory’s positive attitude, the consistently high standard of his work and the contribution he makes to the team are exceptional. He has fully embraced HSSP’s multi sector dynamic to the benefit of himself and the practice.

His leadership and project management skills have flourished. He has developed his technical knowledge and sought increasing responsibility from senior colleagues which has been entrusted to him.

With an ability to manage multiple live projects simultaneously, he prioritises workloads, communicates effectively with clients and consultants, and actively solves problems.

George Pain, Gateley RJA

Throughout his apprenticeship, George has consistently achieved strong academic results while simultaneously delivering value to clients and colleagues.

Despite being early in his career, George has already established himself as a trusted and highly capable Quantity Surveyor, taking a leading role on several significant client accounts and projects.

His ability to understand client objectives and provide practical, commercially focused advice has enabled him to build strong relationships and gain the trust of clients and colleagues.

Nathan Bill, MEC Consulting Group

For an individual still in the early stages of his career, Nathan has demonstrated exceptional progression. His promotion to Associate Director reflects both his technical capabilities and the trust placed in him to lead and grow regional teams.

What sets Nathan apart is his ability to think beyond his job title. He is always willing to help others and has built a nurturing, collaborative culture for his team. For clients, he exercises good judgement, is insightful, engaging and committed to achieving the best results.

His technical insight has proven invaluable on many projects, with multiple clients confirming they view Nathan as an extension of their team, rather than a consultant.

Jon Marston, Managing Director at award sponsor Galliford Try Building East Midlands & Anglia, said: “Galliford Try are incredibly proud to sponsor this year’s Rising Star Award.

“The final shortlist showcases some exceptional candidates and is testament to the depth and strength of the young professionals contributing to our industry in Leicester and Leicestershire. With people at the heart of our business, it is an honour to support this Award and celebrate the talent in the region.”

The 2026 ProCon Awards are backed by two corporate sponsors: Salus and Unique Window Systems. The Leicester Mercury’s Business Live is the media partner.

The other six awards are:

• Small Residential Scheme of the Year, sponsored by Fusion 360 Group
• Medium Residential Scheme of the Year, sponsored by Fusion 360 Group
• Small Non-residential Scheme of the Year, sponsored by Merali Beedle
• Medium Non-residential Scheme of the Year, sponsored by Knights
• Large Non-residential Scheme of the Year, sponsored by Procure Partnerships Framework
• Regeneration Project of the Year, sponsored by NJC Surveys and AR Demolition

All the contenders will be in the spotlight at a Finalist Showcase at the 2025 winner Jewry Wall in Leicester from 6pm on Wednesday October 7.

Finalists and winners will be celebrated at a ceremony on November 12 at Leicester City’s King Power Stadium. Details of all the awards finalists are at: procon-leicestershire.co.uk/procon-awards/2026

Companies keen to attend the Finalist Showcase, the ceremony or to enquire about sponsorship opportunities can contact Allyson Jeffrey on 0116 278 1443 or via email: info@procon-leicestershire.co.uk

Consolidation concerns

A packed calendar

There are also simple logistical questions around 30 films released from one company in a year.

With 52 weeks on the calendar, that’s less than 2 weeks between new releases — not accounting for marquee weekends when the industry typically stacks big premieres.

Advertisement

A merged Paramount-Warner Bros. could easily cannibalize its own ticket sales if major releases are placed too close to one another.

Combine that with growing competition for coveted premium large format screens like Imax and Dolby and the schedule looks even trickier.

At present, the combined slate of Paramount and Warner Bros. for 2027 contains six dates where both studios have a theatrical release planned. There are also pockets on the calendar that have three to five releases stacked up on a weekly basis.

“From a pure strategy standpoint, it’s reasonable to expect release date shifts among the two studios’ planned slates,” Dergarabedian said. “In some cases, it’ll be to avoid overlapping audiences while, in others, it may be to diversify their cadence of box office.”

Advertisement

For example, the combined company currently has nine horror films slated for 2027 and could look to shift dates to allow these features to have longer playability without competing.

“Hopefully, they put together some great movies and counterprogramming,” Lehman said. “Show us the kids’ movies, show us the horror movies, show us the high-end action movies.”

The fine print

Paramount’s settlement with the state AGs mandates that at least 20 of the films released by the combined company in each of the first two years after closing have a wide release in more than 2,000 theaters. For the following three years, that increases to at least 21 films.

“The agreement very specifically stipulates that it only has to be 20 wide releases, which is nothing,” said industry analyst David Poland.

Advertisement

Currently, Paramount is on track to have 14 wide releases in 2026 and Warner Bros. is set for 13, for a total of 27 wide releases between them, according to Rentrak data.

“The importance of wide releases cannot be overstated,” Dergarabedian said. “These are the films that generate the biggest theatrical impact, fill auditoriums, drive concession sales and create the kind of cultural conversation that benefits the entire moviegoing ecosystem.”

Then there is the definition of “tentpole.”

Still from Paramount’s “Sonic the Hedgehog 2.”

Advertisement

Paramount

NASHVILLE, Tenn. — Fans across Nashville and around the world came together Friday to celebrate the life and legacy of Dolly Parton, marking the city’s inaugural “Dolly Day” with more than 145 events, fundraisers and celebrations honoring the country music icon who died in the city on August 25 at age 80.

The date itself carries a deliberate double meaning tied to Parton’s own career. September 25, written numerically as 9/25, pays homage to “9 to 5,” one of Parton’s signature songs, giving the newly established celebration a date directly connected to her music catalog.

Even as court disputes over Parton’s estate have continued to surface in recent weeks, organizers and participants said Friday’s celebration was intended to center on the enduring, unshakable elements of her legacy: her music, her generosity and the sense of joy she brought to audiences throughout her decades-long career. Rather than a day defined primarily by grief, the celebration has increasingly taken the shape of expanded literacy programming and an international day of giving, reflecting causes Parton championed extensively during her lifetime.

Nashville, which served as Parton’s home base throughout much of her career, has emerged as the epicenter of the celebration, with more than 145 special events, parties and fundraisers taking place across the city, and organizers said more continued to be added in the lead-up to Friday. Local coffee shops and bars introduced special Dolly-themed menu items for the occasion, many featuring her signature shades of pink. More than 30 local music venues planned performances of “9 to 5” timed to 5 p.m., while a downtown fireworks display scheduled for 9:25 p.m. was set to cap the day’s festivities.

A number of Nashville-area businesses tied their own contributions directly to causes closely associated with Parton’s philanthropic work. The Grand Ole Opry announced it would donate $5 from each ticket sold for Friday’s shows and tours to Parton’s Imagination Library, the childhood literacy nonprofit she founded that has distributed free books to children around the world. Hattie B’s, the popular Nashville hot chicken chain, said it would donate one book for every qualifying entrée purchased at its Tennessee locations outside the airport. Country music stars Garth Brooks and Trisha Yearwood said they would direct all of Friday’s proceeds from their honky-tonk venue, Friends in Low Places, to the Nashville Public Library and the Imagination Library.

Beyond individual business contributions, a broader philanthropic effort known as the Give Like Dolly campaign, organized by the Community Foundation of Middle Tennessee, drew applications from 555 nonprofit organizations seeking support. Twenty of those organizations were ultimately selected to share donations across four causes connected to Parton’s philanthropic focus: helping children succeed, helping people heal, assisting neighbors in need, and opening doors through music and the arts. Participating organizations include Nashville CARES, Dismas House, Girls Write Nashville, Nashville Children’s Theatre and the Country Music Hall of Fame’s Words & Music education program.

While Nashville has served as the center of Friday’s celebrations, Parton’s influence has continued extending into an international movement in the weeks following her death. In Florida, Virginia and Ohio, local affiliates of the Imagination Library have reported a notable surge in both donations and new registrations since Parton died on August 25. In West Virginia, the literacy nonprofit Read Aloud West Virginia announced it would match donations made to local Imagination Library affiliates throughout the month for any contribution designated “in memory of Dolly.” In London, where a tribute to Parton was projected across the city’s Piccadilly Lights advertising displays in the days following her death, the Imagination Library announced plans to double the number of boroughs the program covers.

Parton founded the Imagination Library in 1995 in Sevier County, Tennessee, as a tribute to her own father, who was unable to read, and the program has since grown into one of the most widely recognized childhood literacy initiatives in the world, mailing free books to registered children from birth until they begin kindergarten across numerous countries.

Friday’s celebration arrives roughly a month after Parton’s death, a period during which tributes to the singer, songwriter and philanthropist have continued to emerge from across the entertainment industry, the philanthropic world and her devoted fan base. The scale of Friday’s Nashville events, spanning music venue performances, charitable fundraising, specialty food and drink offerings and a citywide fireworks finale, reflects the deep and continuing connection between Parton and the city that served as the backdrop for much of her decades-long career.

With Dolly Day now established as an annual date tied directly to Parton’s own music and philanthropic legacy, organizers and participating businesses have signaled the celebration is likely to continue in future years, extending both the charitable fundraising model established through the Give Like Dolly campaign and the broader spirit of joy and generosity that defined Parton’s public persona throughout her lifetime.