Copper neared a record high, with a renewed rally in US tech stocks helping to boost investor sentiment at a time of tightening supply in many metal markets.
Prices for the bellwether industrial metal rallied as much as 1.3% to $11,928 a ton, within $25 of an all-time high and nearing the $12,000 mark. Prices have climbed by more than a third this year, bolstered by mine outages, a surge in US imports and a bullish outlook for usage linked to artificial intelligence.
Tin — another crucial metal for the tech industry — has rallied nearly 50% this year, and hit a fresh three-year high on Friday amid renewed gains in AI-focused stocks. Aluminum also reached the highest price since 2022, with the looming shutdown of a smelter in Mozambique adding to worries about supply as plants in China face a cap on output.
Nickel advanced for a third day, extending its rebound from an eight-month low on the prospect of reduced supply from top producer Indonesia.
The metal rose as much as 1.6% on Friday, two days after Indonesia proposed cutting nickel ore production in 2026. The government’s work plan budget for next year envisages output of about 250 million tons, down from this year’s goal of 379 million tons.
The planned reduction is a response to a slump in nickel prices. The metal, used in stainless steel and electric-vehicle batteries, has declined roughly by half over three years on the London Metal Exchange as production in Indonesia, as well as China, outpaces global demand.
Indonesia’s Ministry of Energy and Mineral Resources also plans to revise its benchmark pricing formula for nickel ore in early 2026, a move that would classify byproducts such as cobalt as separate commodities subject to royalties, Bloomberg Technoz reported, citing Indonesian Nickel Miners Association Secretary General Meidy Katrin Lengkey.
“Going into 2026, if the cut does take place, then our view is that nickel is likely to outperform the rest of the base metal complex,” Bernard Dahdah, an analyst at Natixis, said in an emailed note. “Most metals in the complex have already reached record highs, and as such the price increase momentum is likely to slow down, if not reverse in some cases.”
Nickel on the LME closed 1.1% higher at $14,803 a ton as of 5:51 p.m. local time. Copper settled 0.9% higher at $11,881.50 a ton and aluminum closed up 1% at $2,945 a ton.
Bloomberg Technoz is a partnership between Mayapada Group’s PT Berita Mediatama Indonesia and Bloomberg Media Group, a division of Bloomberg LP.
She tells the BBC: “We definitely don’t think students should be using ChatGPT to outsource work”.
In her view, it’s best used as a tutor rather than just a provider of answers.
The example she gives is of a student having a back and forth with ChatGPT using the study mode setting.
You enter the question you’re having difficulty answering and the chatbot can break down its components and help you understand it.
The example she gives is of a student doing an assignment late at night about a topic they don’t quite understand.
“[If] you have an upcoming presentation to give and… it’s midnight, you’re not going to email your [university] tutor and ask for help,” she says.
“I think the potential is truly there for ChatGPT to accelerate learning when it’s used in a targeted way.”
But Prof Holmes insists that any student who uses AI tools should be aware of how its reasoning works and how the companies providing them handle data. He stresses that results should always be checked.
“It is not just the latest iteration of the calculator,” he says, describing AI’s far-reaching capabilities and implications.
“I never say to my students, you shouldn’t use AI… But what I do try to say is look, we need to understand all these different things about it so that you can make informed decisions.”
MIT researchers used electroencephalography to record brain activity while people used generative AI
What was the last thing you asked an AI chatbot to do for you?
Maybe you asked it for an essay structure to help answer a tricky question, provide an insightful analysis of a chunky data set, or to check if your cover letter matches the job description.
Some experts worry that outsourcing these kinds of tasks means your brain is working less – and could even be harming your critical thinking and problem-solving skills.
Earlier this year, the Massachusetts Institute of Technology (MIT) published a study showing that people who used ChatGPT to write essays showed less activity in brain networks associated with cognitive processing while undertaking the exercise.
These people also couldn’t quote from their essays as easily as those in the study who didn’t use an AI chatbot.
The researchers said their study demonstrated “the pressing matter of exploring a possible decrease in learning skills”.
All 54 participants were recruited from MIT and nearby universities. Their brain activity was recorded using electroencephalography (EEG), which involves electrodes being placed on the scalp.
Some of the prompts used by the participants included asking AI to summarise essay questions, track down sources as well as refine grammar and style.
It was also used to generate and articulate ideas – but some users felt AI wasn’t very good at this.
‘AI makes it too easy to find answers’
Separately, Carnegie Mellon University and Microsoft, which operates Copilot, found people’s problem-solving skills could diminish if they became too reliant on AI.
They surveyed 319 white-collar workers who used AI tools for their jobs at least once per week about how they apply critical thinking when using them.
They looked at 900 examples of tasks given to AI, ranging from analysing data for new insights to checking whether a piece of work satisfies particular rules.
The study found that higher confidence in the tool’s ability to perform a task was related to “less critical thinking effort”.
“While GenAI can improve worker efficiency, it can inhibit critical engagement with work and can potentially lead to long-term overreliance on the tool and diminished skill for independent problem-solving.”
Schoolchildren in the UK were similarly surveyed for a study published in October by Oxford University Press (OUP).
It found six in 10 felt AI had negatively impacted their skills in relation to schoolwork.
So, with the massive explosion of AI use, are our cognitive skills at risk of decline?
Klaus Vedfelt/Getty
A survey by OUP found six in 10 schoolchildren felt AI had negatively impacted their skills
Not necessarily, says Dr Alexandra Tomescu, a generative AI specialist at OUP who worked on the school survey.
“Our research tells us that nine in 10 students say AI has helped them develop at least one skill related to schoolwork – be it problem-solving, creativity or revision.
“But at the same time, about a quarter state that AI use made it too easy to do work for them… So [it’s] quite a nuanced picture.”
She adds that many pupils want more guidance on how to use AI.
ChatGPT, which has more than 800 million weekly active users according to boss Sam Altman, has published a set of 100 prompts for students designed to help them get the most out of the technology.
But Prof Wayne Holmes, who researches critical studies of artificial intelligence and education at University College London (UCL), says this isn’t enough.
He wants much more academic research to be done about the effects of AI tools on learning before pupils and students are encouraged to use them.
He tells us: “Today there is no independent evidence at scale for the effectiveness of these tools in education, or for their safety, or even for the idea they have a positive impact.”
Better results but worse learning?
Prof Holmes points to research about cognitive atrophy, where someone’s abilities and skills become worse after using AI.
He says this has been a problem for radiologists who use AI tools to help them interpret X-rays before they diagnose patients.
A study by Harvard Medical School published last year found AI assistance did improve the performance of some clinicians but damaged others for reasons researchers don’t fully understand.
The authors called for more work to be done on how humans interact with AI so we can figure out ways of using AI tools that “boost human performance rather than hurt it”.
Prof Holmes fears that students, whether in school or university, could become too reliant on AI to do their work for them and not develop the fundamental skills an education provides.
A student’s essay might receive better marks thanks to help from AI but the issue is whether they end up understanding less.
As Prof Holmes puts it: “Their outputs are better but actually their learning is worse.”
Jayna Devani, who leads international education at OpenAI – the company that owns ChatGPT – and helped secure a deal with the University of Oxford, says the firm are “very aware of this debate right now”.
The University of Oxford began providing students and staff with ChatGPT for free in September
She tells the BBC: “We definitely don’t think students should be using ChatGPT to outsource work”.
In her view, it’s best used as a tutor rather than just a provider of answers.
The example she gives is of a student having a back and forth with ChatGPT using the study mode setting.
You enter the question you’re having difficulty answering and the chatbot can break down its components and help you understand it.
The example she gives is of a student doing an assignment late at night about a topic they don’t quite understand.
“[If] you have an upcoming presentation to give and… it’s midnight, you’re not going to email your [university] tutor and ask for help,” she says.
“I think the potential is truly there for ChatGPT to accelerate learning when it’s used in a targeted way.”
But Prof Holmes insists that any student who uses AI tools should be aware of how its reasoning works and how the companies providing them handle data. He stresses that results should always be checked.
“It is not just the latest iteration of the calculator,” he says, describing AI’s far-reaching capabilities and implications.
“I never say to my students, you shouldn’t use AI… But what I do try to say is look, we need to understand all these different things about it so that you can make informed decisions.”
Investor Relations: Sam Ramraj, (626) 302-2540 Media Relations: (626) 302-2255 news@sce.com
ROSEMEAD, Calif., Dec. 19, 2025 — Edison International (NYSE: EIX) today announced the expiration and results for its previously announced cash tender offers to purchase any and all of its outstanding 5.00% Fixed-Rate Reset Cumulative Perpetual Preferred Stock, Series B (the “Series B Preferred Stock” and such offer, the “Series B Offer”) and 5.375% Fixed-Rate Reset Cumulative Perpetual Preferred Stock, Series A (the “Series A Preferred Stock” and, together with the Series B Preferred Stock, the “Securities” and such offer, the “Series A Offer” and, together with the Series B Offer, the “Offers” and each, an “Offer”), plus Accrued Dividends (as defined below).
The Offers expired on December 19, 2025 at 5 p.m., New York City time (the “Expiration Date”). Based on the count by the depositary for the Offers, as of the Expiration Date, $415,517,000 aggregate liquidation preference of Series B Preferred Stock and $744,975,000 aggregate liquidation preference of Series A Preferred Stock have been validly tendered and not validly withdrawn. The Company has accepted for purchase all such Securities validly tendered and not validly withdrawn as of the Expiration Date.
The consideration for the Securities tendered and accepted for purchase will equal $995 per $1,000 liquidation preference per share of Series B Preferred Stock pursuant to the Series B Offer and $1,000 per $1,000 liquidation preference per share of Series A Preferred Stock pursuant to the Series A Offer, plus Accrued Dividends. As used in connection with the Offers, “Accrued Dividends” means, for each $1,000 liquidation preference per share of Securities, accrued and unpaid dividends from the last dividend payment date with respect to such Security up to, but not including, the Settlement Date (as defined below) of the Offers, assuming for purposes of the Offers that a dividend for such Security had in fact been declared during such period. The date on which the Company will pay the aggregate purchase price for all validly tendered and not validly withdrawn Series B Preferred Stock and Series A Preferred Stock that are accepted for purchase is referred to as the “Settlement Date.
Pursuant to Rule 13e-4(c)(2) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Company has filed with the Securities and Exchange Commission (the “SEC”) an Issuer Tender Offer Statement on Schedule TO, which contains additional information with respect to the Offers. The Schedule TO, including the exhibits and any amendments and supplements thereto, may be examined, and copies may be obtained, at the SEC’s website at sec.gov.
Barclays Capital Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC and Santander US Capital Markets LLC are acting as dealer managers for the Offers. For additional information regarding the terms of the Offers, please contact: Barclays Capital Inc. at 800-438-3242 (toll-free) or 212-528-7581 (collect); J.P. Morgan Securities LLC at 866-834-4666 (toll-free) or 212-834-4818 (collect); Mizuho Securities USA LLC at 866-271-7403 (toll-free) or 212-205-7741 (collect); or Santander US Capital Markets LLC at 855-404-3636 (toll-free) or 212-350-0660 (collect). To confirm delivery of Securities, please contact Global Bondholder Services Corporation, which is acting as the tender agent and information agent for the Offers, at 855-654-2015 (toll-free) or 212-430-3774 (collect).
About Edison International Edison International (NYSE: EIX) is one of the nation’s largest electric utility holding companies, focused on providing clean and reliable energy and energy services through its independent companies. Headquartered in Rosemead, Calif., Edison International is the parent company of Southern California Edison Company, a utility delivering electricity to approximately 15 million people across Southern, Central and Coastal California. Edison International is also the parent company of Trio (formerly Edison Energy), a portfolio of nonregulated competitive businesses providing integrated sustainability and energy advisory services to large commercial, industrial and institutional organizations in North America and Europe.
Safe Harbor Statement for Investors Statements contained in this press release about expectations regarding the Offers, financings and other statements that do not directly relate to a historical or current fact are forward-looking statements. In this press release, the words “expects,” “will” and variations of such words and similar expressions, or discussions of strategy, plans or actions, are intended to identify forward-looking statements. Such statements reflect our current expectations; however, such statements necessarily involve risks and uncertainties. Actual results could differ materially from current expectations. Other important factors are discussed in Edison International’s Form 10-K and other reports filed with the SEC, which are available on our website: edisoninvestor.com. Edison International has no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise.
The Crisafulli Government is getting the Cross River Rail project back on track after years of Labor’s mismanagement, with visible progress at the new Albert Street underground station. It’s the first new CBD train station in more than 120 years.
The installation of the 153-tonne station canopy, which will provide shade over the public plaza outside the main entrance, is now clearly visible from the street. While sections of the Albert Street green spine – a shady subtropical boulevard between Mary and Elizabeth streets with outdoor dining – is now open to the public.
There’s also been a hive of activity below ground, with the recent installation of Queensland’s longest escalator measuring more than 37 metres at the station’s northern entrance for those approaching from Queen Street.
29 escalators have been installed at Albert Street, the most of any underground Cross River Rail station.
First Cross River Rail passenger services are expected to commence in 2029, after the former Labor Government originally promised Queenslanders the project would be completed for $5.4 billion by 2024. The Crisafulli Government revealed the final price tag of Labor’s Cross River Rail cover-up and failures at $19.041 billion.
The Crisafulli Government is delivering a plan for Queensland’s future after a decade of decline under Labor, with the latest progress forming part of the wider rail transformation underway across Southeast Queensland.
Minister for Transport and Main Roads Brent Mickelberg said the milestone reflected the Crisafulli Government’s commitment to delivering the once-in-a-generation rail transformation and essential transport infrastructure.
“We’re getting on with the job of delivering Cross River Rail’s Albert Street station following a challenging period for the project under the former Labor Government, including more than 140 days lost to protected action,” Minister Mickelberg said.
“We’ve worked hard to restore momentum on Cross River Rail and the progress is clear – the canopy is in place, the plaza is taking shape, and the station is moving closer to completion.
“With projects like Cross River Rail, Logan and Gold Coast Faster Rail, and The Wave on the Sunshine Coast, we’re building the public transport network Queenslanders need for 2032 and beyond.”
Cross River Rail Delivery Authority CEO Graeme Newton said Albert Street station would become a prominent inner-city landmark.
“It’s exciting to see the station coming to life in the heart of the CBD,” Mr Newton said.
“The underground tunnels and stations are just one part of the Delivery Authority’s wider scope – our teams are also carrying out essential works across the rail network during the quieter holiday period, including installing new signalling infrastructure, improving drainage and forming new tracks.
“We recognise these works may cause some inconvenience, which is why they are scheduled during the school holidays when fewer customers use our network – if you need to travel, please plan ahead and allow additional time.”
To plan your journey, use the Translink app, visit translink.com.au or call 13 12 20.
Royal Victoria Regional Health Centre (RVH), with support from the community and RVH Foundation, is expanding access to medical imaging with the introduction of Innisfil’s first Magnetic Resonance Imaging (MRI) scanner, to be located at the Rizzardo Health and Wellness Centre. The new scanner will bring care closer to home for patients across the region.
Once operational, the new MRI will allow RVH to deliver nearly 4,000 additional scans each year, helping to reduce wait times and improve access to care. Currently, RVH performs approximately 24,000 MRIs annually, with demand continuing to rise as the region’s population grows and ages.
“RVH is home to the largest and most advanced medical imaging department in the region, delivering more than 200,000 imaging exams each year,” says Gail Hunt, President and CEO of RVH. “MRI plays a critical role across cancer, cardiology, surgery and chronic disease management. Adding a third MRI in Innisfil expands our capacity and helps ensure our region can keep pace with growing demand.”
RVH marked the announcement of a new MRI scanner with a groundbreaking at the future site of its third MRI at the Rizzardo Health and Wellness Centre in Innisfil. Pictured, from left, are Mary-Anne Frith, chair of the RVH Foundation board; Jason Teal, chair of the RVH board; Lise McCourt, president of the RVH Auxiliary board; Dr. Jeffrey Tyberg, RVH chief of staff and vice-president, academic and medical affairs; Andrea Khanjin, MPP Barrie–Innisfil; Lynn Dollin, mayor of the Town of Innisfil and Gail Hunt, RVH president and CEO.
The new MRI — a MAGNETOM Flow Elite — will be RVH’s third and one of the first of its kind in Ontario. MRI technology uses magnets and radio waves to produce detailed images of the body without surgery or radiation, supporting diagnosis and treatment planning across a wide range of conditions. Designed with patients and health care teams in mind, the MAGNETOM Flow Elite offers a wider opening and faster scan times to improve patient comfort, built-in artificial intelligence to support efficient, high-quality imaging, and technology that requires virtually no liquid helium, making the system more sustainable, environmentally friendly and reliable over time.
“This investment in smart technology allows us to provide safer, more precise and timely care,” says Dr. Jeffrey Tyberg, RVH Chief of Staff and Vice President of Academic & Medical Affairs. “Expanded MRI capacity means quicker access to diagnostic imaging and improved coordination of care across multiple clinical programs.”
A rendering of RVH’s new MAGNETOM Flow Elite MRI scanner, one of the first of its kind in Ontario, coming to the Rizzardo Health and Wellness Centre in Innisfil. Designed with patients and care teams in mind, the next-generation system offers a wider opening, faster scan times and built-in AI to support high-quality imaging, while using virtually no liquid helium.
Working with partners at the Town of Innisfil, RVH has signed an agreement with SDI Canada to purchase a prefabricated modular unit, known as a Cassette Movable Building, which will attach to the existing Rizzardo Health and Wellness Centre, where RVH has been providing outpatient and diagnostic services since 2019.
Site preparation is expected to begin in March 2026, with the modular unit arriving in August 2026. RVH’s target is to begin performing MRI procedures in Innisfil by November 2026.
This expansion is supported by $800,000 in annual funding from the Ontario government, which will cover the operation of the MRI, including staffing.
“Our government is continuously investing in bringing healthcare closer to home, where people work and live,” said Andrea Khanjin, MPP for Barrie–Innisfil. “This results in better outcomes and means people can be closer to their loved ones throughout their healthcare journey. By supporting the addition of a new MRI through operational funding, we are helping to reduce wait times and expand access to diagnostic imaging.”
While the Ontario government provides funding to support the operation of MRI services, hospitals are responsible for funding all major medical equipment. The purchase of both the MRI scanner and the modular unit that will house it was made entirely possible through community generosity and reflects how donor support is being put to work at RVH.
“Our donors made this happen,” said Mary-Anne Frith, Chair of the RVH Foundation Board of Directors and Keep Life Wild campaign. “Their generosity is directly improving how and when patients receive care by bringing advanced imaging to Innisfil and helping people stay close to home when they need answers.”
Locating RVH’s third MRI in Innisfil reflects both where the organization is today and where it is going, with a proposed health hub planned just across the road from the Rizzardo site.
“Our long-term vision is about providing the right care, in the right place, at the right time,” said Hunt. “This project is an important step toward meeting the needs of our growing region.”
