One of the oldest names in watchmaking, Blancpain has just introduced a new series of Villeret models to refresh its long-standing collection. A total of 16 references were unveiled across three familiar models: the time-only, the moon phase,…
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Cowboys rookie Donovan Ezeiruaku expects ‘a wave’ of sacks
FRISCO, Texas — Donovan Ezeiruaku never went more than two games last year at Boston College without a sack. He is six games into his Dallas Cowboys career, and the second-round defensive end is still looking for his first sack as a…
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Negative Effects of the Trade War Offset by the AI Boom and the Industrial Renaissance
Contrary to widespread fears about the economic outlook, key credit indicators are turning more bullish. Default rates for high yield debt and loans have peaked, along with delinquency rates for auto loans and credit cards, see charts below.
Three factors explain why corporate default and consumer delinquency rates are moving lower:
1) Uncertainty related to the trade war is significantly lower than its peak during Liberation Day.
2) The ongoing AI boom is boosting the buildout of data centers and related energy infrastructure. Simultaneously, higher stock prices are supporting consumer spending.
3) Investors are increasingly recognizing that we are in the early stages of an industrial renaissance across sectors like aerospace, defense, manufacturing, biotech and technology/automation.
In summary, while the trade war remains a mild drag on growth, its impact is being more than offset by the tailwinds from the AI boom and the industrial renaissance. Consequently, there is a growing upside risk that economic growth will reaccelerate over the coming quarters.
Sources: Moody’s Analytics, Apollo Chief Economist 
Sources: Federal Reserve Bank of New York, Macrobond, Apollo Chief Economist 
Sources: Federal Reserve Bank of New York, Macrobond, Apollo Chief Economist Download high-res charts
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ALMA and JWST solve major star formation mystery: Space photo of the week
Quick facts
What it is: HH 211, a baby star erupting with gargantuan energy jets
Where it is: 1,000 light-years from Earth in the constellation Perseus.
When it was shared: Sept. 17, 2025
Most events in the universe are not fully understood,…
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Brain training game boosts chemical linked to memory and attention, study shows
With age comes a natural decline in cognitive function, even among otherwise healthy adults without dementia. A new study finds that a cognitive training program may boost production of a brain chemical that plays a role in memory and attention.
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As Pokémon Legends: Z-A launches, we return to Pokémon Legends: Arceus’ rose-tinted take on the past, and the hard questions it raises about Japanese history
Pokémon has always been a jet-setting series, with its head in the clouds and its feet planted firmly in the real world. The first four generations of Pokémon games took us on a whirlwind tour of Japan. Red and Blue were…
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Government vows to create 400,000 jobs in clean energy sector
Pritti MistryBusiness reporter
PA MediaThe Siemens wind turbine factory in Hull, where thousands are employed, is “booming”, a minister has said The government has announced plans to train and recruit more workers for the UK’s clean energy sector, promising to create 400,000 extra jobs by 2030.
Plumbers, electricians and welders are among 31 priority occupations that are “particularly in demand”, with employment in renewable, wind, solar and nuclear expected to double to 860,000 in five years, ministers have said.
Speaking on the BBC’s Sunday with Laura Kuenssberg programme, Energy Secretary Ed Miliband said thousands of jobs were needed to develop Britain’s clean energy sector to “get bills down for good”.
Welcoming the proposals, Unite the union said: “Well-paid, secure work must be at the heart of any green transition.”
As part of the government’s strategy, five “technical excellence colleges” will be set up to train workers with clean energy skills, with £2.5m in funding going towards pilot schemes in Cheshire, Lincolnshire, and Pembrokeshire, according to the Department for Energy Security and Net Zero (DESNZ).
A new programme is to be launched to match veterans with careers in solar panel installation, wind turbine factories and nuclear power stations, while oil and gas workers could benefit from up to £20m from the UK and Scottish governments for bespoke careers training in clean energy roles.
There would be also be tailored schemes for ex-offenders, school leavers and the unemployed.
He said 10,000 extra jobs would be needed to support the construction of the Sizewell C nuclear power station in Suffolk and described how the Siemen’s wind turbine factory in Hull was “booming”.
Miliband also told the BBC he stood by his pledge to reduce energy bills by £300 by 2030, after bills went up by 2% for millions across the UK under Ofgem’s latest price cap.
In a statement, Miliband said the plan would bring “a new generation of good industrial jobs” to communities across the UK.
“Our plans will help create an economy in which there is no need to leave your hometown just to find a decent job.
“Thanks to this government’s commitment to clean energy, a generation of young people in our industrial heartlands can have well-paid, secure jobs, from plumbers to electricians and welders.”
According to DESNZ, jobs in the clean energy sector command average salaries of more than £50,000, compared to the UK average of £37,000.
Work and Pensions Secretary Pat McFadden said: “We’re giving workers the skills needed to switch to clean energy, which is good for them, good for industry, and will drive growth across the nation.
“Our new jobs plan will unlock real opportunities and ensure everyone has access to the training and support to secure the well-paid jobs that will power our country’s future.”
Christina McAnea, general secretary of Unison, said the government’s strategy could “help create a UK workforce with highly skilled, fairly paid and secure jobs”.
“Additional funding for apprenticeships and opportunities for young people are crucial too if the UK is to have a bright and clean energy future,” she added.
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Hospitals turn to music to help patients manage pain, anxiety
Nurse Rod Salaysay works with all kinds of instruments in the hospital: a thermometer, a stethoscope and sometimes his guitar and ukulele.
In the recovery unit of UC San Diego Health, Salaysay helps patients manage pain…
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Gaza ceasefire under strain after exchange of fire between Israel and Hamas
Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
The week-old ceasefire in Gaza came under strain on Sunday with Israel launching air strikes in the south of the enclave…
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Meet AMIES, China’s new hope in breaking reliance on ASML’s chipmaking machines
AMIES Technology, a new Chinese lithography equipment manufacturer that showcased its latest chipmaking products at an industry event in Shenzhen last week, is offering renewed optimism in the nation’s drive to reduce its dependence on Dutch giant ASML.
The company presented a wide range of products – including compound-semiconductor lithography machines, laser-annealing systems, advanced inspection tools and solutions for packaging and wafer bonding – at the WeSemiBay Semiconductor Ecosystem Expo 2025, which featured more than 600 exhibitors, such as Huawei Technologies partner SiCarrier.
Advanced lithography remains a significant bottleneck in China’s chipmaking ambitions. The country still trails far behind global leaders in the technology and is restricted from acquiring ASML’s top deep ultraviolet (DUV) and extreme ultraviolet (EUV) systems due to US export controls.
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Founded in February, AMIES is a spin-off from China’s leading lithography company, the state-owned Shanghai Micro Electronics Equipment (SMEE). While SMEE focuses on developing essential front-end tools, AMIES aims to commercialise equipment more swiftly, according to Chinese media reports, citing company representatives.
US-sanctioned SMEE excels in back-end semiconductor processes like packaging, which often require less advanced lithography technology. When it comes to front-end wafer fabrication, however, it is still trying to catch up with Western leaders such as ASML.
AMIES was spun off from SMEE in February. Photo: Handout alt=AMIES was spun off from SMEE in February. Photo: Handout>
The Chinese company’s most reliable production-grade lithography tools are believed to support processes around 90-nanometre node and above. In late 2023, its shareholder Zhangjiang Group briefly claimed on social media that SMEE had “successfully developed a 28-nm lithography machine”, but later retracted the reference.
In contrast, ASML’s EUV systems are used by leading chipmakers for processes at 2-nm nodes and below.
For now, AMIES said its flagship product is its advanced packaging lithography machine, which held a global market share of 35 per cent and a 90 per cent share in China.
On its website, AMIES lists four product lines: integrated circuits, advanced packaging, compound semiconductors and flat-panel displays. These encompass various types of annealing, inspection, chip manufacturing and packaging tools.
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