Latest news with #Owners
CBC
2 hours ago
- Business
- CBC
Construction to shutter some ByWard Market patios, frustrating owners
Restaurants along Clarendon Lane in the ByWard Market are being forced to close their patios at the busiest time of year due to construction by the National Capital Commission. Owners say it's unfair and it will hurt their bottom line.
Mint
4 days ago
- Automotive
- Mint
Elon Musk and Tesla's $30 trillion AI supersonic tsunami
Tesla shareholders are used to volatility. Shares dipped 8% on Thursday after Tesla reported second-quarter earnings. Shares bounced about 4% on Friday. Coming into the week of trading, Tesla stock was down 22% year to date and up about 44% over the past 12 months. Tesla CEO Elon Musk offered some pretty eye-popping aspirations for the company during remarks on Saturday. Musk made a virtual appearance at the Tesla Owners of Silicon Valley 2025 'Takeover" party in San Mateo, Calif. The group is, essentially, a fan club and community for Tesla and Musk enthusiasts. Its Takeover event draws attendees from all over the world, according to organizers. The headline from the event might just have been an admittedly aspirational comment about $30 trillion a year in humanoid robot revenue. Tesla is using its artificial intelligence and manufacturing capabilities to build its Optimus humanoid robots. Version three of 'Optimus is the right design to go to volume production," said Musk. Tesla plans to make a few hundred of those by the end of 2025. Originally, Tesla planned to have a few thousand, but the new design slowed things down a little. Tesla still plans to ramp production higher in 2026. Tesla is betting big on AI, using it for robots and to train its self-driving cars. Robots are 'probably the world's biggest product…There's a market for 20 billion robots," said Musk. 'Hypothetically, if Tesla was making one billion of these a year…maybe on the order of $30,000, I'm just guessing here, that's $30 trillion in revenue." It's an incredible prediction. 'Long way to go between here and making one billion robots a year," added Musk. There isn't a significant market for humanoid robots yet. Nvidia CEO Jensen Huang has said that robots can become the world's largest market. (Housing, consumer electronics, and cars are three of the largest today.) The world spends 'what $50 trillion on human labor a year now?" says Futurum chief market strategist Shay Boloor. Useful robots are 'pretty disruptive if you can conquer it." Musk, for his part, doesn't fear the labor disruption, believing it will end up creating an age of abundance with hard labor essentially eliminated. 'I've never seen any technology advance as fast as AI," said Musk, describing it as a supersonic tsunami. It's all pie in the sky for now, but quite a vision of the future. Investors should pay attention to events like the 'Takeover." It's almost like a Wall Street event for the EV maker. Tesla is more of a retail stock than the megacap companies. Smaller retail investors hold more than 40% of the shares available for trading, according to Bloomberg. The average for the rest of the Magnificent Seven is closer to 25%. Whether the interview will move Tesla's stock on Monday is anyone's guess. Shares dipped 8% on Thursday after Tesla reported second-quarter earnings on Wednesday evening. Shares bounced about 4% on Friday. Coming into the week of trading, Tesla stock was down 22% year to date and up about 44% over the past 12 months. Shares are trading for about 180 times estimated 2025 earnings. That's the second-highest PE ratio in the S&P 500, according to Bloomberg, trailing only Palantir Technologies. That valuation indicates that, to some extent, investors are as optimistic about the future. Write to Al Root at
Daily Mail
12-06-2025
- Entertainment
- Daily Mail
Trent Alexander-Arnold reveals chat with Liverpool owners after leaving for Real Madrid
Trent Alexander-Arnold has revealed that Liverpool 's owners have told him they would welcome him back to the club as a player. Despite the boos which he received during his penultimate game at Anfield just four weeks ago, the 26-year-old, who was introduced as a Real Madrid player yesterday, said he feels accepted by his boyhood club's fans who were 'outstanding' towards him. In comments which suggest he has not ruled out playing for Liverpool again, Alexander-Arnold thanked Liverpool's owners for the departure they gave him – despite taking only a £10million transfer fee from Real because he was virtually out of contract. He said: 'I had an amazing conversation with the owners in the last couple of days. They thanked me for everything I gave, wished me well on my future journey and said they would have me back at the club at any point. To have those words was amazing.' Alexander-Arnold surprised Real president and other grandees by speaking perfect Spanish for sixty seconds, later revealing that he had been learning Spanish 'for a few months.' He said he would only have left Liverpool for Real Madrid. 'To be honest, it was never a question of where. It was whether to go, or not to go, but I always knew, I've probably known it for a long time, if I was ever to leave Liverpool, it would only be to go Real Madrid. That would be the only club for me,' he said. Alexander-Arnold sat next to girlfriend Estelle Behnke as a video montage was played of his best moments at Liverpool, inevitably featuring his two assists in the 4-0 Champions League semi-final comeback against Real's arch-rivals Barcelona. His mother Dianne, sitting alongside his father Michael and brothers Tyler – his agent – and Marcell, could be seen wiping away tears as the video concluded. Perhaps with Liverpool sensitivities in mind, Alexander-Arnold insisted that playing for Real had not been a dream of his. 'If I'm honest, it's not something you dream of as it's out of reach and out of reality for a lot of players. There are only a handful of players who have been able to represent this club,' he said. 'When I was younger, I wasn't exactly thinking I would be here I was just thinking about learning about how I could be the best footballer I could be. It's a dream to be here but there is still a lot of hard work to do. I'm excited to get started right away.' That begins with the Club World Cup. He and his teammates fly to the US at the weekend. They will be based at the Four Seasons Miami, in Palm Beach, Florida, ahead of their opening game against Saudi side Al Hilal next Wednesday.
Daily Mail
07-06-2025
- Sport
- Daily Mail
BREAKING NEWS Sovereignty takes thrilling 157th Belmont Stakes one month after Kentucky Derby win
In a remarkable comeback, Sovereignty stormed from behind to win the 157th running of the Belmont Stakes on Sunday outside New York one month after the colt won the Kentucky Derby. Sovereignty was racing for the first time since the first Saturday in May. Owners and trainer Bill Mott decided not to enter Sovereignty in the Preakness because of the short, two-week turnaround, thereby denying themselves the chance at a Triple Crown.
Yahoo
06-06-2025
- Business
- Yahoo
Rio Tinto and Baowu open Western Range iron ore mine in the Pilbara with Yinhawangka Traditional Owners
PERTH, Australia, June 06, 2025--(BUSINESS WIRE)--Rio Tinto has officially opened its newest iron ore mine, Western Range, with Western Australian Premier Roger Cook and Federal Resources Minister Madeleine King joining Yinhawangka Traditional Owners and senior representatives from Rio Tinto and joint venture partner China Baowu Group (Baowu) to mark the milestone. Western Range has the capacity to produce up to 25 million tonnes of iron ore per year and could sustain the existing Paraburdoo mining hub for up to 20 years. The $2 billion1 project, a joint venture between Rio Tinto (54 per cent) and Baowu (46 per cent), was completed on time and on budget. It involved building a primary crusher and 18-kilometre conveyor system linked to the existing Paraburdoo processing plant. The new mine provides stability for Paraburdoo's more than 880 residential and FIFO employees. It also supports the ongoing viability of Paraburdoo town and strengthens the Western Australian and national economies through royalties and taxes. Yinhawangka Aboriginal Corporation Board Chairwoman Robyn Hayden (née Tommy) and Yinhawangka Traditional Owners joined Premier Cook, Minister King, Baowu Group Chairman Hu Wangming, Baowu Resources Chairman Shi Bing, Rio Tinto Chief Executive Jakob Stausholm, Rio Tinto Iron Ore Chief Executive Simon Trott and other government and joint venture representatives on site for the opening. Western Australian Premier Roger Cook said: "The opening of Western Range is a significant achievement, and its importance to Western Australia's economy cannot be overstated. "My government will continue to back in our resources industry, which is creating quality jobs for Western Australians while helping us maintain the standard of life we all enjoy." Federal Resources Minister Madeleine King said: "The opening of Western Range is fantastic news for the Pilbara, for Western Australians, for Traditional Owners and for the nation. "The Pilbara is the engine room of the nation's economy. Projects like Western Range will keep that engine running for future generations of Australians." Western Range is Rio Tinto's first project to feature a co-designed Social, Cultural and Heritage Management Plan (SCHMP) with the Yinhawangka Traditional Owners. In keeping with the SCHMP, announced in 2022 with the Yinhawangka Aboriginal Corporation, Western Range has been designed to protect significant cultural and heritage values in the area. Yinhawangka Aboriginal Corporation Board Chairwoman Robyn Hayden (née Tommy) said: "For Yinhawangka people, Country is everything - it holds our spirit, our Law, and our deep responsibility to protect what was passed down to us. "The opening of the Western Range mine represents a shift in how our heritage is being recognised and respected. We acknowledge the work Rio Tinto has done to change how they engage with us, and the steps they've taken to build a stronger, more honest partnership. This is a meaningful beginning - and we stand ready to walk forward together." Rio Tinto and Baowu's partnership in the Pilbara began with the 2002 Bao-HI Joint Venture to develop the Eastern Range deposits in the Hamersley Ranges. Chairman of China Baowu Group, Hu Wangming said: "The success of the Western Range project is not only a milestone in China-Australia resource co-operation, but also a vivid reflection of joint efforts and resilience from all parties involved. "The Western Range project is not only a strategic cornerstone in the global resource layout of China Baowu and Rio Tinto, but also a model of China-Australia economic and trade cooperation. Our joint efforts in green, low-carbon development and collaborative innovation have set new industry benchmarks and contributed valuable insights and strength to the sustainable development of global resources. "We are committed to working hand in hand with the Western Australian Government, Indigenous communities, and partners from all sectors to build an inclusive and sustainable cooperation ecosystem. We will also continue to fulfill our corporate responsibilities and drive industrial upgrading through technological innovation, injecting new momentum into regional prosperity and the stability of global supply chains." Rio Tinto Chief Executive Jakob Stausholm said: "Opening Western Range is an important step in Rio Tinto's extension plans in the Pilbara and ensures the longevity of one of our oldest mining hubs, Paraburdoo, which began operating in 1972. "I'm particularly proud of the work we've done with the Yinhawangka People to develop Western Range and we'll continue to work closely together. "Partnering with Baowu ensures our biggest customer directly benefits with a consistent, dedicated supply of Rio Tinto's world leading Pilbara Blend iron ore." First ore was processed through the Western Range system in late March this year. Additional Information Western Range is one of a tranche of replacement projects, with total annual capacity of ~130Mtpa2, that underpin Rio Tinto's ongoing commitment to the Pilbara. In addition to the 6 March 2025 announcement of a $1.8 billion investment to develop Brockman Syncline 1, both the Hope Downs 1 and West Angelas sustaining projects are progressing through approvals processes. During the next three years (2025-2027) Rio Tinto expects to invest more than $13 billion on new mines, plant and equipment. This builds on about $8.5 billion of investment in the Pilbara during the past three years (2022-2024). Rio Tinto continues to work on the pre-feasibility study for Rhodes Ridge, one of the world's largest and highest quality undeveloped iron ore deposits, which is targeting an initial capacity of up to 40Mtpa and first ore by 2030. Footnotes 1 All currency figures are in US dollars, unless otherwise specified, and on a 100 per cent basis. 2 Subject to timing of full capacity. The replacement projects include Western Range, West Angelas, Hope Downs 1, Greater Nammuldi and Brockman 4. View source version on Contacts Please direct all enquiries to Media Relations, United KingdomMatthew KlarM +44 7796 630 637David OuthwaiteM +44 7787 597 493 Media Relations, AustraliaMatt ChambersM +61 433 525 739Michelle LeeM +61 458 609 322Rachel PupazzoniM +61 438 875 469 Media Relations, CanadaSimon LetendreM +1 514 796 4973Malika CherryM +1 418 592 7293Vanessa DamhaM +1 514 715 2152 Media Relations, USJesse RiseboroughM +1 202 394 9480 Investor Relations, United KingdomRachel ArellanoM: +44 7584 609 644David OvingtonM +44 7920 010 978Laura BrooksM +44 7826 942 797Weiwei HuM +44 7825 907 230 Investor Relations, AustraliaTom GallopM +61 439 353 948Phoebe LeeM +61 413 557 780 Rio Tinto plc6 St James's SquareLondon SW1Y 4ADUnited KingdomT +44 20 7781 2000 Registered in EnglandNo. 719885 Rio Tinto LimitedLevel 43, 120 Collins StreetMelbourne 3000AustraliaT +61 3 9283 3333Registered in AustraliaABN 96 004 458 404 Category: PILBARA Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
