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Al-Ahram Weekly
3 days ago
- Politics
- Al-Ahram Weekly
UK using US contractor to conduct Gaza spy flights: The Times report - War on Gaza
The UK military has used US contractors to conduct spy flights over Gaza for Israel due to a shortage of British aircraft, The Times reported on Thursday. The UK government acknowledged this year that it conducts such flights over the war-ravaged Palestinian territory but insisted they were "solely in support of hostage rescue". The spy flights appear increasingly at odds with the UK government's growing public frustration with Israel over the war in Gaza, and increasing international demands for a ceasefire. Last week, Britain announced it would formally recognise a Palestinian state if steps, including a ceasefire, were not taken by mid-September. It has been said that the flights are part of its response to October 7, 2023. The Royal Air Force (RAF) had been using its Shadow R1 reconnaissance aircraft to film over Gaza, aiding the search for the captives, but turned to a US firm after the planes were reassigned or needed maintenance, according to The Times. The Nevada-based company being used is a subsidiary of Sierra Nevada Corporation, one of the world's largest military contractors, the newspaper said. It is likely to be seen as further evidence that Britain's military has been pared back too drastically over recent decades, primarily due to budget pressures. Relying on private sector contractors, which use an RAF base in Cyprus in the eastern Mediterranean, can have pitfalls. The flight path of a US-operated sortie last month over the largely destroyed Gaza city of Khan Yunis became public following what The Times called a "schoolboy" error. It said the plane's transponder had not been fully turned off, which meant it could be identified on flight-tracking websites and platforms as flying over southern Gaza. The UK defence ministry declined to comment, citing the need to protect operational security around intelligence matters. It reiterated that Britain conducts surveillance flights over Gaza to help Israel locate captives and only passes on intelligence related to that. In March, armed forces secretary Luke Pollard told MPs, "These flights are solely in support of hostage rescue". Follow us on: Facebook Instagram Whatsapp Short link:
New Straits Times
3 days ago
- Politics
- New Straits Times
UK outsourcing Gaza spy missions to US firm amid RAF shortfall
LONDON: The UK military has used US contractors to conduct spy flights over Gaza for Israel due to a shortage of British aircraft, The Times reported on Thursday. The UK government acknowledged this year that it conducts such flights over the war-ravaged Palestinian territory but insisted they were "solely in support of hostage rescue." The spy flights appear increasingly at odds with the UK government's growing public frustration with Israel over the war in Gaza, and increasing international demands for a ceasefire. Last week, Britain announced it would formally recognise a Palestinian state if steps including a ceasefire were not taken by mid-September. It has said the flights are part of its response to the Oct 7, 2023, attacks by Hamas on Israel that set off the war. Out of 251 hostages captured during the attacks, 49 are still held in Gaza, including 27 the Israeli military says are dead. The Royal Air Force (RAF) had been using its Shadow R1 reconnaissance aircraft to film over Gaza aiding the search for the hostages, but turned to a US firm after the planes were reassigned or needed maintenance, according to The Times. The Nevada-based company being used is a subsidiary of Sierra Nevada Corporation, one of the world's largest military contractors, the newspaper said. It is likely to be seen as further evidence that Britain's military has been pared back too drastically over recent decades, primarily due to budget pressures. Relying on private sector contractors, which use an RAF base in Cyprus in the eastern Mediterranean, can have pitfalls. The flight path of a US-operated sortie last month over the largely destroyed Gazan city of Khan Yunis became public following what The Times called a "schoolboy" error. It said the plane's transponder had not been fully turned off, which meant it could be identified on flight-tracking websites and platforms as flying over southern Gaza. The UK defence ministry declined to comment, citing the need to protect operational security around intelligence matters. It reiterated Britain conducts surveillance flights over Gaza to help Israel locate hostages and only passes on intelligence related to that. In March, armed forces secretary Luke Pollard told MPs "these flights are solely in support of hostage rescue."
Yahoo
3 days ago
- Business
- Yahoo
Do Wall Street Analysts Like Caesars Entertainment Stock?
Reno, Nevada-based Caesars Entertainment, Inc. (CZR) owns and operates as a gaming and hospitality company, offering casino, poker, roulette, and other gaming facilities and provides food and beverage services. Valued at $5.2 billion by market cap, the company owns, leases, or manages domestic properties in 18 states and utilizes its hotels, restaurants, bars, entertainment, racing, sportsbook offerings, retail shops, and other services. Shares of this casino entertainment company have underperformed the broader market over the past year. CZR has declined 28% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 21.1%. In 2025, CZR stock is down 25.6%, compared to the SPX's 7.9% rise on a YTD basis. More News from Barchart Supermicro's Earnings Selloff Explained: Should You Buy SMCI Stock Now? Amazon's $36M Bet on Quantum Computing: What Investors Need to Know AMD Stock Slips After Q2 Earnings, But Here's Why It's a Buying Opportunity Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Narrowing the focus, CZR's underperformance is also apparent compared to the Consumer Discretionary Select Sector SPDR Fund (XLY). The exchange-traded fund has gained about 29.1% over the past year. Moreover, the ETF's marginal dip on a YTD basis outshines the stock's double-digit losses over the same time frame. On Jul. 29, CZR shares closed down more than 3% after reporting its Q2 results. Its loss of $0.39 per share did not meet Wall Street's expectations of EPS of $0.07. The company's revenue was $2.91 billion, beating Wall Street forecasts of $2.88 billion. For the current fiscal year, ended in December, analysts expect CZR's loss per share to grow 9.1% to $0.50 on a diluted basis. The company's earnings surprise history is disappointing. It missed the consensus estimates in three of the last four quarters while beating the forecast on another occasion. Among the 16 analysts covering CZR stock, the consensus is a 'Strong Buy.' That's based on 12 'Strong Buy' ratings, and four 'Holds.' This configuration is more bullish than a month ago, with 11 analysts suggesting a 'Strong Buy.' On Aug. 1, Susquehanna kept a 'Neutral' rating on CZR and lowered the price target to $27, implying a potential upside of 8.5% from current levels. The mean price target of $40.94 represents a 64.5% premium to CZR's current price levels. The Street-high price target of $50 suggests an ambitious upside potential of 101%. On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Chicago Tribune
4 days ago
- Business
- Chicago Tribune
The Logistics Campus in Glenview signs deal to build warehouse for Pepsi
The Logistic Campus in Glenview, the redeveloped former home of Allstate along the Tri-State Tollway, has landed its second major tenant. A bottling division of Pepsi Beverages signed a lease for a 351,520-square-foot warehouse to be built at the far southern end of The Logistic Campus. While the five-building first phase of the sprawling development remains mostly empty, the Pepsi warehouse is breaking ground on the planned second phase, with the lease beginning in February. Dermody Properties, the developer behind the slow-to-lease north suburban logistics site, announced the deal for the build-to-suit Pepsi warehouse Wednesday. Terms of the lease were not disclosed. 'We welcome PepsiCo to The Logistics Campus,' Neal Driscoll, Midwest region partner at Dermody, said in a news release. 'Positioned in one of Chicago's most active submarkets, The Logistics Campus is well equipped to support PepsiCo's growth and evolving logistics needs.' The Nevada-based developer bought the former Allstate campus for $232 million in 2022, with plans to build one of the largest urban logistics developments in the U.S. on the 232-acre site, which was annexed into Glenview. But the logistics site is off to a slow start, with far more geese than trucks roaming the grounds amid a soft post-pandemic industrial leasing market. The transformative $500 million project calls for a 10-building, 3.2 million-square-foot logistics park. The first phase of five massive warehouses was delivered on Oct. 1, but only one tenant has signed a lease with intent to move in. HuFriedyGroup, a century-old, Chicago-based dental equipment manufacturer, signed a lease in March for a 326,278-square-foot-building near Willow and Sanders roads in the first phase of the development. A HuFriedyGroup spokesperson did not immediately respond to a request for comment Wednesday on the target date for moving into its new Glenview digs. California-based Upside Foods was announced in September 2023 as the site's first tenant after signing a long-term lease for 187,000 square feet to build out the first large-scale cultivated meat plant in the U.S. But those plans were put on hold last year, with no target date for launch. Pepsi is building the first warehouse in the planned second phase, with site work underway and a target delivery by the first quarter of next year, Dermody said. In addition to its namesake cola, Pepsi Beverages manufactures and distributes a broad portfolio of soft drinks, bottled water, energy drinks and fruit juices. In an email Wednesday, Pepsi confirmed the lease, but offered no guidance on timing, plans for the facility or potential jobs created in Glenview. 'We have signed an agreement to build a new PepsiCo facility in Glenview, Illinois,' the company said. 'The location will help us better serve our customers and consumers.' Meanwhile, Dermody still has four warehouses and nearly 700,000 square feet available for lease in the first phase of the development at The Logistics Campus. 'We continue to talk with a lot of companies wanting to do more than just store products which typically means they have several months of set up before they open for business,' Driscoll said in a email Wednesday. 'Leasing activity in Chicago could be characterized as cool at the moment, as is the case every year in the middle of summer, but we still have a healthy list of prospects.' Demand for industrial space declined significantly in the post-pandemic landscape, with high vacancy rates and a dearth of development. While there have been signs of recovery this year, vacancy rates in the Chicago market are up slightly year-over-year to 6.3% while new construction is down 24%, according to a second quarter report by Avison Young. Industrial vacancy in northern Cook County was flat year-over-year at 6.5%, with only one project in the development pipeline — the build-to-suit Pepsi warehouse at The Logistics Campus in Glenview, according to the report. At the same time, the report noted that seven new speculative projects totaling 1.4 million square feet broke ground in the second quarter across the Chicago market, signaling 'renewed market confidence,' according to the report.
New Indian Express
31-07-2025
- Business
- New Indian Express
Rare earth magnets: Supply link from mine to magnet
Rare earth magnets are the invisible force behind the world's transition to electric vehicles, renewable energy, and cutting-edge defence systems. At the heart of these technologies lies a small but indispensable component: the neodymium-iron-boron permanent magnet. Without it, electric motors stall, wind turbines falter, and advanced missile systems lose precision. India, despite its sizeable rare earth reserves, has no domestic capacity to produce these critical magnets. We have to address this strategic blindspot that could cripple the country's ambitions in EVs, renewables, and defence unless addressed immediately. Why the markets won't solve this The rare earth supply chain is notoriously capital-intensive and high-risk. Developing a mine-to-magnet project can take 5-10 years, with massive upfront costs and no guaranteed cash flows. Traditional project finance models do not work here as banks see too much risk and not enough precedent. Experience shows the market has been flooded to drive down prices and kill off competitors multiple times. No investor will risk capital in a sector where prices can fall below the cost of production overnight due to geopolitical manipulation. Under these conditions, mere funding support engineered through grants and tax concessions may be sub-optimal. Governments must support an enterprise with an assured offtake and price over its lifetime. In effect, the private sector takes on the technology and production risk, and the government takes on the complete market and revenue risks. In 2022-23, Apple signed a multi-year, $500-million procurement deal with a Nevada-based rare earth miner and processor. Crucially, the tech giant agreed to prepay $200 million to help the company establish a full-fledged domestic supply chain—from mine to magnet. This wasn't charity; it was strategic foresight. Apple, whose devices and production lines depend heavily on rare earth magnets, saw the writing on the wall: continued reliance on foreign supplies was a vulnerability. Soon after, the US Defense Advanced Research Projects Agency (DARPA) stepped in with an even more dramatic move. It committed to guarantee a price of $110/kg for neodymium-praseodymium (NdPr) oxide, a key ingredient in rare earth magnets, at nearly double the prevailing global market price. Why? Because without such assurance, no company would risk building costly infrastructure in a price-volatile, externally-dominated market. India imports nearly all the 900 tonnes of magnets used annually despite holding the fifth-largest rare earth reserves in the world. Not a single commercial magnet factory exists in the country as of 2025. India's only meaningful processing activity is via IREL (India), which produces about 1,500 tonnes of NdPr oxide, most of which is used in R&D or exported.
