Trafigura Returns to Bond Market for First Time in Several Years
Trafigura has a five-year $500 million bond maturing in September this year, and a €500 million ($581 million) bond for the same tenor coming due in 2026.
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31 minutes ago
- Yahoo
Microsoft CEO consoles employees by saying recent layoffs are down to 'the enigma of success in an industry that has no franchise value'
When you buy through links on our articles, Future and its syndication partners may earn a commission. This month began with some stark news for Microsoft employees: The business was doing better than ever before, and that somehow means layoffs. Around 9,000 employees were laid-off globally, studios were closed, games were cancelled, and then to rub salt in the wound some Microsoft exec with terminal LinkedIn brain suggested that those affected use AI to console themselves. Judging by the latest bizarre missive from Microsoft chairman and CEO Satya Nadella, that very executive is probably in line for a promotion. There's executive leadership verbiage, and then there's Nadella in full flow, an endless spewer with terrifying levels of executive power and a cheery disregard for the economic realities of the little people. Ahem. In a new blog titled "Recommitting to our why, what and how" Nadella takes off, first of all bravely addressing the question of why Microsoft has just fired so many folks. "I want to speak to what's been weighing heavily on me, and what I know many of you are thinking about: the recent job eliminations," writes Nadella. Then it's on to the "seeming incongruence" of the fact that "by every objective measure, Microsoft is thriving—our market performance, strategic positioning, and growth all point up and to the right [...] And yet, at the same time, we've undergone layoffs." Get ready because, in the annals of executive bullshit, this is a beauty. "This is the enigma of success in an industry that has no franchise value," writes Nadella. "Progress isn't linear. It's dynamic, sometimes dissonant, and always demanding. But it's also a new opportunity for us to shape, lead through, and have greater impact than ever before." I'm not sure exactly what Nadella means by "franchise value" but neither's he, and that's the point. Is the suggestion that big tech can fail overnight with a bad product? Because Microsoft's history and de facto monopoly certainly suggests otherwise! There's more nonsense about "creating new categories with new business models and a new production function" and, naturally, a reference to "this new paradigm." Then we get into the titular "why, what, and how" of Microsoft's "mission" and surprise surprise people: it's AI! "What does empowerment look like in the era of AI?" Nadella wonders. "It's about building tools that empower everyone to create their own tools. That's the shift we are driving—from a software factory to an intelligence engine empowering every person and organization to build whatever they need to achieve." There's some nonsense about AI changing everything because "that's the empowerment our mission enables, creating local surplus in every company, community, and country." Local surplus? What, of laid-off workers? Is that the future Satya? The guy's language really makes my head hurt at points, but I can say one thing—Copilot couldn't come up with this: "We will reimagine every layer of the tech stack for AI—infrastructure, to the app platform, to apps and agents. The key is to get the platform primitives right for these new workloads and for the next order of magnitude of scale. Our differentiation will come from how we bring these layers together to deliver end-to-end experiences and products, with the core ethos of a platform company that fosters ecosystem opportunity broadly. Getting both the product and platform right for the AI wave is our North Star!" The LinkedIn nerds are gonna love this line: "Growth mindset has served us well over the last decade—the everyday practice of being a learn-it-all, not a know-it-all." This is good, apparently, and "it might feel messy at times, but transformation always is." Nadella claims that where AI is now "reminds me of the early '90s, when PCs and productivity software became standard in every home and every desk!" Don't ask why. "What we've learned over the past five decades is that success is not about longevity," says Nadella. "It's about relevance. Our future won't be defined by what we've built before, but by what we empower others to build now." It seems to me that the main thing Microsoft is empowering people to build is the latest version of their CV, but I digress. Nadella's unique mode of expression aside, this is mostly just another tone-deaf missive from a corporation that truly seems to specialise in them. Perhaps the most concrete take-away from all of this though is that "we will reimagine every layer of the tech stack for AI—infrastructure, to the app platform, to apps and agents." AI may not do everything the boosters say, in other words: but it's here to stay anyway and, if you think it's been obtrusive up to now, you really haven't seen anything yet.
Yahoo
an hour ago
- Yahoo
Skyworks (SWKS) Unveils New Timing Devices for Data Centers and High-Speed Networks
Skyworks Solutions, Inc. (NASDAQ:SWKS) ranks among the best magic formula stocks to invest in. On June 25, Skyworks Solutions, Inc. (NASDAQ:SWKS) declared the launch of new timing devices intended for use in data centers and high-speed networking. Photo by Yogesh Phuyal on Unsplash These include the SKY62101 ultra-low jitter clock generator, which can generate both Ethernet and PCI Express spread spectrum clocks with 18fs RMS phase jitter performance, and the SKY63104/5/6 family of jitter suppressing clocks. The devices seek to simplify complex clock tree designs by integrating general-purpose clock production, Ethernet, and PCIe into a single component. According to James Wilson, vice president and general manager of Skyworks' Mixed Signal Solutions division, the company's MultiSynth and DSPLL technologies 'set a new benchmark for performance and integration.' Skyworks Solutions, Inc. (NASDAQ:SWKS) creates and produces semiconductor components for use in consumer electronics, telecommunications, automotive, and aerospace. While we acknowledge the potential of SWKS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None. Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
BofA Raises NVIDIA (NVDA) Price Target on China Sales Outlook
NVIDIA Corporation (NASDAQ:NVDA) ranks among the . BofA Securities kept its Buy rating on NVIDIA Corporation (NASDAQ:NVDA) while increasing its price target from $180 to $220. The adjustment reflects BofA's scenario analysis of potential additional sales and earnings potential, namely concerning Nvidia's shipments of H20 chips and Blackwell counterparts to China. For the second half of 2025, BofA projects a quarterly China shipment run-rate of $4-6 billion, which it anticipates staying flat year over year in 2026 as a result of ongoing limitations on advanced products and heightened local competition. In line with CEO Jensen Huang's forecast of a $50 billion China total addressable market over the next two to three years, the analysis projects that China will hold 14% of the global AI accelerator market in 2025, drop to 12% by 2026, and then perhaps hold 5–10% over time. NVIDIA Corporation (NASDAQ:NVDA), a world leader in networking and graphics processing, provides GPUs for the AI, gaming, HPC, and other industries. The company's products span data centers, gaming, professional visualization, and the automotive markets. While we acknowledge the potential of NVDA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None. Sign in to access your portfolio
