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International Topics
SpaceX is developing a low latency, broadband internet system to meet the needs of consumers across the globe. Enabled by a constellation of low Earth orbit satellites, Starlink will provide fast, reliable internet to populations with little or no connectivity, including those in rural communities and places where existing services are too expensive or unreliable.
low-Earth-orbit (LEO) satellites, a new generation of spacecraft that can circle the globe in just 90 minutes and connect users to the internet.
Big telecommunications providers -Verizon, AT&T, and T-Mobile introduced the first 5G mobile services in the U.S. big tech companies including Amazon, Microsoft, and Google may have beaten the wireless carriers The higher speeds and greater capacity of 5G are needed to meet growing demand for services such as high-definition video streaming. But with the technology, the key improvement is in the almost immediate network response time, a feature known as low latency. As faster 5G midband frequencies are built out, customers are finding a wireless alternative to landline providers. Instead the technology has become a standard feature in an arena where mobile phone companies and cable operators are battling it out with similar packages. As that reality started to take hold, the carriers pointed to bigger, more immediate opportunities such as selling 5G to large companies and governments. he major carriers formed partnerships with the so-called webscalers, the big cloud service providers including Amazon’s AWS, Microsoft’s Azure, Google, and Meta Platforms that handle data storage, online ordering, and video streaming for big companies. Each cloud giant sees 5G as a valuable entry into new classes of services, such as secure private networks to replace Wi-Fi, factory automation, and edge computing, which brings network hardware closer to end users to increase speeds. no 5G hyperconnected, cloud-powered commercial ecosystem has been built before, tech giants and telecommunications companies are collaborating to tackle the challenge.
T-Mobile US Inc., which has taken the lead in U.S. 5G deployment, plans to focus on its core network strength as the tech giants sort things out, says Neville Ray, T-Mobile’s president of technology. “Facebook, Apple, Microsoft, Google—all of these massive companies are lining up huge investments in this space, and they need mobile networks in a way that they never did before,” he says. “They will need network capabilities that they simply don’t have any desire to build.”
While new partnerships are still being announced and big 5G projects are moving through the planning stages, executives at the wireless companies say they’re confident they can play a role in the information technology infrastructure of the future. “I’m proud to be the only carrier in the world that has partnership agreements with all three of the big webscalers,” says Verizon Communications Inc.’s business services chief Tami Erwin. “We’re creating the platform for the metaverse to really accelerate.” On March 9, Musk boasted that SpaceX had sent 48 more satellites into orbit, adding to its over 2,000 already circling the Earth. But Musk has rivals with their own LEO satellite ambitions. They include fellow space billionaire Jeff Bezos. Amazon.com Inc.’s Kuiper Systems wants to launch more than 7,000 satellites. On March 5 a Chinese rocket launched six LEO satellites for Beijing-based GalaxySpace, which plans a constellation with as many as 1,000. The European Union in February announced a plan for a constellation that would cost about €6 billion ($6.6 billion). And Indian billionaire Sunil Mittal’s Bharti Global, along with the British government, is an investor in OneWeb Ltd., which plans to begin operating its LEO constellation of 648 satellites this year. The SpaceX billionaire and his rocket nemesis Jeff Bezos are among the players deploying thousands of low-orbiting satellites for broadband.
Honda, Rosneft
Walt Disney, Airbnb, Plantronics, Burberry, Casper Sleep, Brookfield Asset Management, Door Dash, Petrobras, Aurora Cannabis, Alibaba
Toyota, Wendy’s, Fossil, Bumble, Allianz, Jack in the Box, Vroom, SoftBank, Sonos, Bayer, 1Life Healthcare
Electronic Arts, Chesapeake Energy, Hanesbrands, Aramark, International Game Technology, Palantir Technologies, Perrigo, Unity Software, Opendoor Technologies, Kinross Gold, Lemonade, Vizio
Marriott, BioNTech, Jacobs Engineering, Simon Property Group, International Flavors and Fragrances, Wynn Resorts, SmileDirectClub, Duke Energy, Air Products, Tyson Foods, Party City, Energizer, Coty
Copper futures hit a record high, as did lumber futures, rising 13% in the past week. Corn futures rose 8.6% in the past week, finishing at the highest level since 2013.
West Texas Intermediate crude futures gained 2% to $64.90 per barrel.
After April's disappointing jobs report, market focus will shift squarely to inflation in the week ahead.
For the millions of people who tuned into the Berkshire Hathaway annual meeting on Saturday, careful viewers were rewarded with an unexpected bit of news.
Simon Property Group saw its stock retreat about 3% in the premarket despite better-than-expected numbers. The real estate property manager reported first-quarter earnings of $1.36 per share on revenues of $1.15 billion.
Electronic Arts, Chesapeake Energy, Hanesbrands, and Palantir Technologies will all deliver earnings results on Tuesday.
The Labor Department will on Tuesday publish the latest results of its Job Openings and Labor Turnover Survey. Several high-ranking Federal Reserve officials, including Governor Lael Brainard and New York Fed President John Williams, are also scheduled to deliver remarks.
The question of who would take over after Buffett has been a source of speculation for over 15 years. For years, it was assumed that Buffett’s successor would be David Sokol, who ran MidAmerican Energy, now called Berkshire Hathaway Energy, and NetJets for Berkshire. But Sokol left Berkshire in 2011 after it was disclosed he had taken on a $10 million stake in chemical company Lubrizol shortly before recommending Berkshire buy the company.
From Buffett’s perspective, Munger was simply acknowledging what has been a common practice for the board of directors. “We’ve always at Berkshire had basically a unanimous agreement as to who should take over the next day,” said Buffett. “The world’s paying more attention now.”
Futures contracts tied to the major U.S. stock indexes slipped Monday evening after a sell-off in Big Tech during the regular session.
The Tesla and SpaceX chief isn't the first executive to transcend corporate America and cross over into pop culture.
Nike
Coinbase
U.S. firms hired far fewer workers than expected in April, as employers struggled to find people to fill job openings.
Billionaire Warren Buffet confirmed that he has picked Greg Abel to lead Berkshire Hathaway once he steps down.