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Fermi America joined Hyundai E&C’s Large-Scale Nuclear Technology Seminar in Dallas to engage contractors and strengthen U.S. nuclear supply chain and workforce readiness.
Ongoing FEED work advances planning for four AP1000 units supporting Project Matador, Fermi America’s 11GW private energy campus outside Amarillo, Texas.
AMARILLO, Texas, Feb. 11, 2026 /PRNewswire/ — Fermi Inc. (d/b/a Fermi America) (Nasdaq & LSE: FRMI), operating as Fermi America™, today highlighted continued progress in its strategic partnership with Hyundai Engineering & Construction Co., Ltd. (Hyundai E&C) to help restart large-scale nuclear construction in the United States, including ongoing Front-End Engineering Design (FEED) work supporting four AP1000 units planned for Fermi America’s Project Matador, an 11-gigawatt private energy campus outside Amarillo, Texas.
Mesut Uzman, Chief Nuclear Construction Officer of Fermi America, Addresses Hyundai E&C Conference in Dallas
Fermi America is building this partnership as part of its long-term strategy to bring proven nuclear success and global delivery capability back to America and accelerate the deployment of the reliable, large-scale baseload power needed to meet rapidly rising demand for power in America.
As part of the partnership, Fermi America participated in Hyundai E&C’s Large-Scale Nuclear Technology Seminar on Feb. 10 at The Westin Dallas Downtown. The event brought together leaders from across the U.S. construction and nuclear sectors for practical, discipline-specific sessions on what it takes to build large-scale nuclear projects in today’s market. It also provided an opportunity to engage Texas and national contractors, strengthen supply chain readiness, and align industry partners around the execution demands of next-generation nuclear development.
The seminar covered key construction disciplines and execution topics including nuclear construction standards, modular construction concepts and procedures, major mechanical installation disciplines, specialized nuclear construction works, heavy lifting, nuclear plant building systems, and workforce development and training for skilled nuclear personnel. The event drew strong participation from Texas-based construction companies and major stakeholders across the U.S. nuclear and construction sectors.
With large-scale nuclear construction in the United States largely stalled for decades, Fermi America believes Project Matador represents a critical opportunity to restart American nuclear build capability at scale.
“It’s a very short line of companies eager to do nuclear here in America,” said Toby Neugebauer, CEO and Co-Founder of Fermi America. “The list is even shorter when you consider the projects with a COL accepted for review, active NRC engagement, and a highly characterized site that are ready to break ground this year.
As in only one.
Fermi is proud to partner with Hyundai, the only global company to have successfully built 24 nuclear reactors, ten of them simultaneously, on time and on budget. Their expertise, talent, and financial commitment, together with Westinghouse AP1000s means that with DOE and DOC support, the American nuclear renaissance can restart July 4th.”
Fermi America and Hyundai E&C are currently advancing FEED activities including site layout planning, cooling system evaluations, and cost and schedule development. These efforts are intended to strengthen project readiness and support progress toward a potential engineering, procurement, and construction (EPC) pathway.
Mesut Uzman, Chief Nuclear Construction Officer of Fermi America and CEO of Fermi Nuclear LLC, delivered remarks emphasizing the urgency of accelerating major energy infrastructure deployment.
“AI-driven load growth is accelerating faster than most people realize,” said Uzman. “The next decade will be defined by those who can build power infrastructure fast enough to support AI and industrial growth. Hyundai brings the industrial scale and execution discipline needed to deliver significant energy projects like Fermi America’s Project Matador. We see this partnership with Hyundai E&C as a critical step toward rebuilding U.S. energy capacity.”
Through its partnership with Hyundai E&C, Fermi America is working to mobilize contractors, strengthen the workforce pipeline, and rebuild the nuclear supply chain required to deliver new large-scale nuclear power plants in Texas and across the United States.
Project Matador is being developed to deliver reliable baseload power at scale to support America’s fastest-growing electricity demand, including AI infrastructure, data centers, advanced manufacturing, and other critical industries.
For media inquiries: Lexi Swearingen [email protected]
Fermi America™ official business information Legal Entity: Fermi Inc. (d/b/a Fermi America) (Nasdaq & LSE: FRMI) Brand Name: Fermi America™ Address: 620 S Taylor St #301 Amarillo, TX 79101-2436 Website: https://fermiamerica.com/
About Fermi America™:
Fermi America™ (Nasdaq & LSE: FRMI) develops next-generation private electric grids that deliver highly redundant power at gigawatt scale to support next-generation intelligence and AI compute. Co-founded by former U.S. Energy Secretary Rick Perry, and Co-Founder and former Co-Managing Partner of Quantum Energy, Toby Neugebauer, Fermi America™ combines cutting-edge technology with a deep bench of proven world-class multi-disciplinary leaders with a combined 25 GW of experience, to create the world’s largest, 11 GW next-gen private grid, helping ensure America’s energy and AI dominance. The behind-the-meter Project Matador campus is expected to integrate the nation’s biggest combined-cycle natural gas project, one of the largest clean, new nuclear power complexes in America, utility grid power, solar power, and battery energy storage, to support hyperscale AI and advanced computing.
About the Texas Tech University System Established in 1996, the Texas Tech University System is one of the top public university systems in the nation, consisting of five universities – Texas Tech University, Texas Tech University Health Sciences Center, Angelo State University, Texas Tech University Health Sciences Center El Paso and Midwestern State University.
Headquartered in Lubbock, Texas, the TTU System is a more than $3 billion enterprise focused on advancing higher education, health care, research and outreach with approximately 21,000 employees and 64,000 students, more than 400,000 alums, a statewide economic impact of $19.2 billion and an endowment valued at $3 billion. In its short history, the TTU System has grown tremendously and is nationally acclaimed, operating at 20 academic locations in 16 cities (15 in Texas, 1 international).
In addition, the TTU System is one of only nine in the nation to offer programs for undergraduate, medical, law, nursing, pharmacy, dental and veterinary education among other academic areas.
Forward-Looking Statements This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategy, future operations, financial position, prospects, plans and objectives of management. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “will be,” “will likely result,” “should,” “expects,” “plans,” “anticipates,” “could,” “would,” “foresees,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “outlook,” or “continue” or the negative of these words or other similar terms or expressions. These forward-looking statements are not guarantees of future performance, but are based on management’s current expectations, assumptions, and beliefs concerning future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct. Our results could be materially different from our expectations because of various risks.
(Bloomberg) — Asian equities advanced for a fifth day, stretching their lead over US peers this year as relatively cheaper valuations and firmer growth prospects lured buyers. Treasuries extended their losses after stronger US jobs data.
The MSCI Asia Pacific Index rose as much as 0.8% to a record. The gauge is up around 13% so far this year, its best start to the year relative to the S&P 500 this century. South Korea’s benchmark extended its lead as the world’s best-performing market this year, while Japanese shares advanced after returning from a holiday.
Treasuries fell with the yield on the 10-year bond rising to 4.18% as traders pared bets on interest-rate cuts by the Federal Reserve this year following the jobs numbers. Money markets priced in the Fed’s next cut in July, from June previously, after the US economy added 130,000 roles in January, twice the median forecast.
In what is shaping up to be another blockbuster year, Asia’s markets are outpacing peers in the US and Europe, drawing global investors who have gradually unwound some of their dollar exposures. Investors are positioning for beneficiaries of the artificial-intelligence boom as companies channel billions of dollars into the technology, reshaping and disrupting multiple industries.
“That is what 2026 will be about: diversification across regions but also across sectors,” Elfreda Jonker, client portfolio manager at Alphinity Investment Management, said in an interview on Bloomberg Television.
That said, much of the focus on Wednesday was on the US jobs data, which indicated strength in the US economy.
The next key hurdle for markets is Friday’s US inflation report, which could reinforce the case for keeping rates higher for longer if price pressures fail to ease.
“The report will ease concerns around the consumer,” wrote Krishna Guha at Evercore, referring to US jobs data. “It pours cold water on the idea the Fed could cut rates again before mid-year and will fuel internal debate as to how restrictive policy is and how much slack there is in the labor market.”
The S&P 500 ended Wednesday flat after a bumpy session with real estate services stocks getting hit. The gauge trades at a forward price-to-earnings ratio of about 22 times, compared with about 15 times for the MSCI Asia Pacific Index.
Asia’s strength stands out when investors’ convictions in everything from tech stocks to precious metals and cryptocurrencies are being tested by shifting expectations for US interest rates and uncertainty over AI-driven disruption.
Asia is winning favor with investors as the global tech race is shifting from AI pioneers to the enablers of large-scale adoption. Regional firms control critical choke points — from advanced chips and memory to foundry services and assembly — supplying much of the hardware underpinning the AI build-out.
Read: Booming Asian Markets Widen Their Lead Over US and Europe
In other corners of the market, gold and silver edged lower, while Bitcoin declined to trade around $67,000. The dollar held its losses, benefiting the yen, which touched a two-week high.
What Bloomberg’s Strategists Say…
Even with USD/JPY well below recent highs, Tokyo clearly isn’t comfortable letting the market run unchecked. The emphasis on coordination with Washington ups the ante, reviving the threat of rate checks or other jawboning tactics to lean against renewed yen weakness.
– Mark Cranfield, Markets Live strategist. For more analysis, read here.
In commodities, oil rose as tensions in the Middle East outweighed concerns that there’s a supply glut growing. Nickel extended gains after Indonesia signaled a sharp cut to output this year, curbing supply from the world’s biggest mine.
Elsewhere, the Canadian dollar was little changed after the Republican-led US House passed legislation aimed at ending President Donald Trump’s tariffs on Canada.
Corporate Highlights:
Apple Inc.’s long-planned upgrade to the Siri virtual assistant has run into snags during testing in recent weeks, potentially pushing back the release of several highly anticipated functions. Cisco Systems Inc. gave a weaker-than-expected forecast for profitability in the current quarter, spurring concerns that mounting memory-chip prices are taking a toll on the company. McDonald’s Corp.’s US sales grew at the fastest pace in more than two years in the fourth quarter as value meals continued to resonate with cost-conscious diners. Grab Holdings Ltd. predicted full-year revenue that trailed estimates, a sign of strain in a Southeast Asian ride-hailing and food-delivery market pressured by weaker consumer sentiment. Some of the main moves in markets:
Stocks
S&P 500 futures were little changed as of 10:07 a.m. Tokyo time Hang Seng futures were little changed Nikkei 225 futures (OSE) rose 0.6% Japan’s Topix rose 0.8% Australia’s S&P/ASX 200 rose 0.6% Euro Stoxx 50 futures rose 0.6% Currencies
The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1875 The Japanese yen rose 0.1% to 153.09 per dollar The offshore yuan rose 0.1% to 6.9024 per dollar The Australian dollar was little changed at $0.7133 Cryptocurrencies
Bitcoin fell 0.3% to $67,532.29 Ether fell 0.2% to $1,965.88 Bonds
The yield on 10-year Treasuries advanced one basis point to 4.18% Japan’s 10-year yield declined 3.5 basis points to 2.200% Australia’s 10-year yield advanced five basis points to 4.81% Commodities
West Texas Intermediate crude rose 0.5% to $64.97 a barrel Spot gold fell 0.6% to $5,053.19 an ounce This story was produced with the assistance of Bloomberg Automation.
TORONTO, Feb. 11, 2026 /CNW/ – Manulife Financial Corporation has filed its 2025 audited annual financial statements for the year ended December 31, 2025 and related MD&A with securities regulators, including with the Canadian Securities Administrators and with the U.S. Securities and Exchange Commission on Form 40-F. This information is available on the Company’s website at manulife.com/en/investors/results-and-reports. Shareholders may also request a hard copy of this information free of charge through the Company’s website.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, helping our customers make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States, providing financial advice and insurance for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2024, we had more than 37,000 employees, over 109,000 agents, and thousands of distribution partners, serving over 36 million customers. We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges, and under ‘945’ in Hong Kong.
Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
Media Contact Fiona McLean Manulife 437-441-7491 [email protected]
The Australian Securities and Investment Commission (ASIC) made the changes in response to concerns about the public availability of directors’ personal information on its business registers, which included the officeholder’s residential address. ASIC has removed these details from current and historical company details available through searches purchased from its website.
Joni Henry, an expert in corporate law at Pinsent Masons, said: “These long sought-after changes were made to protect the privacy and personal safety of directors and other registered officeholders. This information can be readily found and used for potential fraud or doxxing, which then creates a real-world risk of harassment and physical danger.”
“This sensible change brings Australia into line with other jurisdictions. Residential addresses of directors are not publicly available in the UK and New Zealand passed laws late last year to allow directors to have their residential addresses redacted from the publicly searchable Companies Register due to similar safety and privacy concerns,” she said.
“ASIC will still collect personal information from directors, including their address details, and require directors to update their details with ASIC and continue to hold director identification numbers. The Treasury is also proposing draft legislation to strengthen its ability to monitor and enforce compliance with these identification and registration requirements.”
Treasurer Jim Chalmers reportedly intervened to urge the removal of residential addresses from public databases, following advice from the Australian Security Intelligence Agency.
Law enforcement, regulators and government agencies, such as the Australian Taxation Office, can still access residential addresses included on ASIC’s registers.
Hannah Griffiths, an expert in insolvency at Pinsent Masons, said: “These changes will create potential challenges for insolvency practitioners. In the meantime, ASIC has agreed to provide the required information in response to direct requests made by insolvency practitioners on court appointed liquidation.”
“Other appointment types should obtain the relevant information from the directors following discussions. Names of officeholders and other details are still available on the publicly searchable company register,” she said.
“This change will likely pose a very real and practical impediment to the timely administration of a corporate insolvency by insolvency practitioners and also have the undesirable consequence of delaying the pursuit of recovery actions, enforcement of guarantees and identification of assets in corporate insolvency which will likely pose significant, and unintended, commercial risks for businesses, creditors and financiers that have historically relied on ASIC published data in respect of the whereabouts of officeholders.”
“Businesses, creditors and financiers should consider ensuring performance obligations in their contractual arrangements with counterparties to enhance identity verification of officeholders, maintain and update address for service details, and ensure adequate security is obtained at the time of entering credit facilities or trading accounts with corporate entities to insulate against this regulatory change.”
A British space company hoping to launch the first homegrown rocket from Scotland is on the brink of collapse, threatening 150 jobs and throwing doubt over the UK’s extraterrestrial ambitions.
Orbex, which is based in the Scottish Highlands, is lining up administrators as hopes fade that it will strike a rescue deal or raise funds, despite having been handed £26m in government loans last year.
The startup had planned to launch a rocket from a base on the Shetland Islands and was “on the cusp” of holding its first test flights in 2026, according to its chief executive, Phil Chambers.
The company had also been in talks to raise fresh cash from the Treasury-backed National Wealth Fund, but that deal fell through at an “early stage” of discussions late last year, a source with knowledge of the situation said.
Launch plans were also hit by repeated delays and Orbex eventually turned to a potential German buyer, The Exploration Company, which is developing a reusable spacecraft. On Wednesday, Orbex said it had examined several merger and acquisition options in an effort to stay afloat but none of had come to fruition.
“Disappointing doesn’t come close to describing how we feel about this moment,” Chambers said. “We have been successfully developing a sustainable, world-class sovereign space launch capability for the UK and were on the cusp of our first test flights later this year.”
He added: “It is no secret that designing and building space rockets to enable a launch service is a capital-intensive, highly advanced process with a long development cycle that creates a ‘scale-up’ funding gap. Institutional support is a crucial to bridge this gap and we have worked tirelessly to try to find both funding or rescue solutions.”
Peter Kyle, the business secretary, approved £20m of taxpayer-funded loans to Orbex in January 2025, hailing its plan to launch small satellites into orbit as one that would “transform the UK space industry”.
At the time, Dr Paul Bate, who steps down as chief executive of the UK Space Agency next month, said Orbex would “inspire a new generation to reach for the stars”.
Last summer, Liz Kendall, the technology secretary, handed a further £6m loan to the startup, designed to help it pursue a £150m contract with the European Space Agency to aid the development of alternatives to Elon Musk’s SpaceX in the US.
Orbex was planning to launch small satellites into orbit using its 19-metre long, low-carbon rockets. It had initially been developing its own home spaceport on the A’Mhòine peninsula in the Highlands, but was eventually forced to shelve the project and relocate its planned launches to SaxaVord, a base on the Shetland Islands.
The launch would have been the first from UK soil since the British billionaire Richard Branson’s failed Virgin Orbit mission in 2023.
A government spokesperson said: “We remain committed to supporting our dynamic space sector. We recognise this will be a very worrying time for staff at Orbex. Space launch is a highly competitive sector, and it has always been the case that some companies will succeed, while others will fail.
“We will be setting out more details about our plans for developing key national space capabilities, including launch, in due course. Any decisions will be focused on ensuring maximum impact for taxpayers’ money.”
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The Dow Jones Industrial Average slipped on Wednesday after the better-than-expected delayed January jobs report failed to spark a sustainable advance.
The blue-chip index traded down 109 points, or 0.2%, as did the Nasdaq Composite. The S&P 500 hovered around the flatline.
The Bureau of Labor Statistics’ January nonfarm payrolls report — which had been delayed due to a partial government shutdown that ended on Feb. 3 — showed job growth of 130,000 last month. Economists polled by Dow Jones had called for a gain of 55,000. The latest figure also marked a sizable increase from December, which was downwardly revised to 48,000.
The unemployment rate also landed at 4.3%, a bit below the Dow Jones forecast for 4.4%.
While the report showed the strongest job gains in more than a year, areas of growth remained concentrated in just a few sectors, predominantly health care-related, which added 124,000 total positions. That was double the normal growth from 2025. Moreover, there is the continuing specter of downward revisions over the labor market, particularly after every month in 2025 saw adjustments lower. With benchmark annual revisions combined with monthly moves through the year, average monthly job growth last year was just 15,000.
“This is generally a good sign, as you’d expect, but we are certainly not out of the woods yet with respect to the labor market. ‘Moving in the right direction’ would be a better description. The unemployment rate is gradually improving, but there are still plenty of signs that the labor market remains exceedingly weak,” Rick Wedell, CIO at RFG Advisory, said, citing a low quit rate as one example.
“In this environment, it is clear that we still have a long way to go before the labor market can be considered ‘solid,’” he added.
Treasury yields had initially jumped on the heels of the report as it at first fueled investor optimism that the economy was on firm footing. At session highs, the Dow was up more than 300 points, or 0.6%, while the S&P 500 gained 0.7% and the Nasdaq jumped 0.9%. However, Federal Reserve interest rate cut odds were reduced, which could have thrown a wrench into that enthusiasm.
The jobs report follows weaker-than-expected consumer data released on Tuesday.That report showed that consumer spending in December was flat, missing the 0.4% monthly gain expected from economists polled by Dow Jones.
“After a long period of prognosticators offering a tepid outlook for the economy based on a weakening labor market, this print provides a solid datapoint on the side of robust economic growth, an improving labor market and wage growth that can support consumer spending,” said Brad Smith, portfolio manager at Janus Henderson Investors. “The Fed will take this point in to its calculus when it makes its decision next month on whether to hold rates steady. With its wait-and-see data dependent stance, this will surely put the balance towards a hold.”
Software stocks, which were a key driver of last week’s rout amid fears of disruption from artificial intelligence, came under pressure yet again Tuesday. Salesforce was down 4%, while ServiceNow fell 5%. The iShares Expanded Tech-Software Sector ETF (IGV) dropped 3%, putting it 30% below its 52-week high. The fund entered bear market territory last month.
Conversely, shares of stocks that would benefit from an accelerating economy gained, as well as those involved in the buildout of AI data centers. Shares of digital infrastructure provider Vertiv surged 18% after the company posted a fourth-quarter earnings beat and issued a strong 2026 outlook. Others such as Caterpillar, GE Vernova and Eaton were all higher in the session as well.
The day’s moves come after the broad-based S&P 500 suffered losses Tuesday as worries over AI’s impact on the financial sector weighed on the index. After tech platform Altruist launched a new AI-powered tax planning tool, several financial services firms’ stocks fell. The tech-heavy Nasdaq also posted a losing session, while the 30-stock Dow notched another all-time high and closing record.
Beyond the jobs report, other economic data that could steer markets will be released this week. The consumer price index, a key economic indicator that acts as a gauge for inflation, is expected to come out on Friday.
