Category: 3. Business

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The emails from Air Canada came without warning: flights cancelled at the last minute, no way to get home and no one at Air Canada answering the phones despite repeated calls. Days went by without a solution.

The disruption stems from a strike that began on Aug. 16 when some 10,000 Air Canada flight attendants walked off the job after months of unsuccessful talks over compensation and working conditions. In the wake of it, more than 100,000 passengers were left stranded.

A tentative agreement to end the contract dispute between Air Canada and its flight attendants has since been reached, and flights are gradually resuming. But many travellers are still stuck abroad or facing lengthy layovers and long lines in crowded airports as they rebook alternative routes.

For those caught up in it, the experience has been draining and overwhelming. Air Canada has said it could take up to a week for full operations to resume, leaving Canadians stranded abroad, still waiting for a path home.

I am one of those stranded passengers. I also teach management and study how people respond in high-stress, uncertain situations and how they can handle them more effectively.

Research has long shown that uncertainty and scarcity push ordinary people toward frustration and conflict, often in ways that make matters worse. In this piece, I will share a few research-backed strategies to help make an unbearable situation a little easier to navigate.

Why this moment feels so stressful

The Air Canada strike combines three powerful stressors: uncertainty, lack of control and crowding. Travellers do not know when or how they will get home, they cannot influence the pace of solutions and they are surrounded by others competing for the same resources.

Each of these factors is already stressful on its own, and combined, they can overwhelm even the most patient individuals. In these volatile conditions, frustration builds and there is a strong urge to lash out.

Anger might seem like a way to regain control, or at least to feel noticed in the chaos. While it’s an understandable reaction, it rarely improves such situations.

Reacting out of anger often leads us to make emotional rather than rational decisions, such as yelling to feel heard. This behaviour can close off communication with the very people whose help is needed. It also drains our resilience at the moment when it matters most.

Importantly, anger is often directed at front-line staff who represent the organization, but have little control over the root causes of disruption. In ordinary times, these employees already face a considerable amount of abuse from customers. In moments of widespread disruption, that mistreatment can quickly become unbearable.

What you can do instead

Although the situation is frustrating and unfair, research has identified practical ways to make it a little more bearable and of improving how travellers navigate it. Here are three strategies supported by scientific studies, including research I conducted with colleagues:

1. Remember this is a collective problem.

My research has found that people stuck in crowded environments feel less frustrated when they think of the situation in collective terms. Airline staff are not opponents; they are trying to help thousands of stranded passengers at once. Approach them as partners in a shared challenge as much as you can. Seeing the situation as a collective issue, rather than a personal one, can make it easier to cope and connect with those who can assist you.

2. Bring your attention inward.

Crowded airports and long layovers can make every minute feel longer and harder to go through. In several studies on how to handle stressful crowds, my co-researchers and I found that focusing on personal media — a book, a tablet or music through headphones — can reduce stress by narrowing your sense of the crowd. Instead of feeding off the chaos and getting more agitated, try to give your mind a smaller, calmer space to settle in. The wait may still be long, but it will feel more manageable.

3. Be polite and respectful with staff.

Showing respect isn’t just courteous; it’s an effective way to manage conflict. In their book Getting to Yes, negotiations experts Roger Fisher and William Ury famously argued to “separate the people from the problem.”

This lesson applies here as well: always treat staff with dignity, even when the situation is frustrating, and focus on solving the real issue. Airline employees may have limited resources, but they are more likely to help travellers who remain calm, clear and respectful.

None of this diminishes how exhausting and unfair the situation feels. However, while travellers cannot control cancelled flights or the pace of labour negotiations, we can control how we respond to these stressors.

Seeing the situation as a shared problem, finding ways to manage our own stress and treating staff with respect can make the experience more bearable. More importantly, these strategies improve our chances of getting help when opportunities arise.

The FDA has issued a complete response letter (CRL) to the supplemental biologics license application (sBLA) seeking the approval of daratumumab and hyaluronidase-fihj (subcutaneous daratumumab; Darzalex Faspro) in combination with bortezomib (Velcade), lenalidomide (Revlimid), and dexamethasone (D-VRd) for the treatment of adult patients with newly diagnosed multiple myeloma who are ineligible for or have deferred autologous stem cell transplant (ASCT).¹

In an announcement on August 1, Johnson & Johnson explained that the CRL cited observations from facility inspections; the letter was not related to safety and efficacy data for D-VRd, and no additional clinical studies were requested. In a news release, Johnson & Johnson announced that there has been no impact on the product supply or commercial availability of subcutaneous daratumumab, and it remains available for use in other approved indications in the United States.

“We are working closely with the FDA and are confident in our ability to promptly resolve the matter,” Yusri Elsayed, MD, MHSc, PhD, global therapeutic area head of Oncology, Innovative Medicine, at Johnson & Johnson, stated in a news release. “Health care professionals and patients can be assured of no impact to the current use or supply of [daratumumab (Darzalex)] and [subcutaneous daratumumab], which are foundational therapies for treating multiple myeloma.”

The sBLA was supported by findings from the phase 3 CEPHEUS trial (NCT03652064), which demonstrated that patients receiving D-VRd achieved a significantly higher rate of minimal residual disease (MRD) negativity compared with those who received the standard triplet regimen of VRd.² In CEPHEUS, treatment with D-VRd (n = 197) led to an MRD-negativity rate of 60.9% at 10⁻⁵ sensitivity compared with a rate of 39.4% in the VRd-alone arm (n = 198; OR, 2.37; 95% CI, 1.58-3.55; P < .0001). Patients treated with the quadruplet regimen also experienced deeper clinical responses, with a complete response (CR) or better rate of 81.2% vs 61.6% with VRd alone (OR, 2.73; 95% CI, 1.71-4.34; P < .0001).

An Overview of the CEPHEUS Clinical Trial

CEPHEUS was a global, randomized trial that enrolled patients with newly diagnosed multiple myeloma who were ineligible for or had deferred ASCT. All patients had an ECOG performance status of 0 to 2 and a frailty score of 0 or 1.

Patients were randomly assigned to receive either D-VRd or standard VRd. In the D-VRd arm, subcutaneous daratumumab was administered at 1800 mg weekly for the first 2 cycles, then every 3 weeks during cycles 3 to 8. Bortezomib, lenalidomide, and dexamethasone were dosed in 21-day cycles. From cycle 9 onward, daratumumab was given every 4 weeks in combination with lenalidomide and dexamethasone; patients in the control arm continued lenalidomide and dexamethasone alone.

The primary end point was rate of MRD negativity with a CR or better. Secondary end points included progression-free survival (PFS), rate of sustained MRD negativity with a CR or better for at least 12 months, rate of CR or better, and overall survival (OS).

Additional findings showed that MRD negativity at a sensitivity of 10⁻⁶ was achieved in 46.2% of patients receiving D-VRd vs 27.3% of those treated with VRd (OR, 2.24; P = .0001). Sustained MRD-negativity lasting at least 12 months at a sensitivity of 10⁻⁵ was reported in 48.7% of patients in the D-VRd group compared with 26.3% of those in the VRd group (OR, 2.63; P < .0001).

The median PFS was not reached in the D-VRd group compared with 52.6 months for VRd alone (HR, 0.57; P = .0005). The 54-month PFS rates were 68.1% vs 49.5%, respectively. OS data were not yet mature, but a trend favoring D-VRd was observed (HR, 0.85), which strengthened when censoring for COVID-19–related deaths (HR, 0.69).

D-VRd’s Safety Profile

Grade 3/4 treatment-emergent adverse effects (TEAEs) were observed in 92.4% of patients receiving D-VRd and 85.6% of those receiving VRd alone. Discontinuation of all study drugs due to TEAEs occurred in 7.6% of D-VRd–treated patients and 15.9% of patients in the VRd group. Grade 5 non–COVID-19 TEAEs occurred in 10.7% of patients in the D-VRd arm vs 7.7% of those in the VRd arm.

Common all-grade TEAEs in the D-VRd vs VRd arms included blood/lymphatic disorders (82.7% vs 64.6%), neutropenia (55.8% vs 39.0%), thrombocytopenia (46.7% vs 33.8%), anemia (37.1% vs 31.8%), gastrointestinal disorders (79.7% vs 81.5%), and peripheral sensory neuropathy (55.8% vs 61.0%). Most peripheral neuropathy cases were low grade, with grade 3/4 neuropathy rates of 8.1% vs 8.2%, respectively.

References

1. Update on U.S. regulatory review of supplemental biologics license application. News release. Johnson & Johnson. August 1, 2025. Accessed August 19, 2025. https://www.jnj.com/media-center/press-releases/update-on-u-s-regulatory-review-of-supplemental-biologics-license-application
2. Usmani SZ, Facon T, Hungaria V, et al. Daratumumab SC + bortezomib/lenalidomide/dexamethasone in patients with transplant-ineligible or transplant-deferred newly diagnosed multiple myeloma: results of the phase 3 CEPHEUS study. Presented at: 21st International Myeloma Society Annual Meeting; September 25-28, 2024; Rio de Janeiro, Brazil. Abstract OA-63.

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More Than 50 Experts Gathered at NREL To Consider How Incorporating Artificial Intelligence Into Materials Synthesis, Characterization, and Modeling Could Unlock New Insights and Speed New Technologies to Market

Artificial intelligence (AI) could accelerate scientific discovery by helping researchers to more quickly gather data, search that data for patterns, and—eventually—generate insights that researchers might have missed.

Yet, leading experts in AI, materials science, chemistry, and robotics emphasize that fully realizing the potential of autonomous experimentation requires not only speeding scientific discovery but also reshaping the entire research-to-industry pipeline.

“After convening with experts across all the relevant fields, we came to understand that the true revolution in autonomous science isn’t just about accelerating discovery but about completely reshaping the path from idea to impact,” said NREL materials data scientist Steven R. Spurgeon, who recently organized a workshop at NREL on the topic. “We are now engineering our research workflows to look beyond the laboratory, ensuring the advanced materials we create are born ready for the industrial scale and the urgent challenges they’re meant to solve.”

Autonomous Science Could Enable Researchers To Do More Science, More Quickly

Autonomous science is an emerging approach that uses AI, robotics, and advanced computing to design and execute experiments at larger scales and more quickly than human researchers could achieve. While the underlying direction is still largely human-driven, autonomous experiments speed the research.

To accelerate progress in this emerging field, NREL convened the Autonomous Research for Real-World Science (ARROWS) workshop in May 2025. The event brought together more than 50 leaders in materials science, chemistry, AI, and robotics to consider how autonomous systems could help overcome long-standing bottlenecks in scientific discovery and translation to industry.

Through presentations, lab tours, and collaborative discussions, participants identified new opportunities for collaboration—and surfaced critical challenges that must be addressed to make autonomous science widely useful.

Finding New Ways To Cross the ‘Valley of Death’

Chief among these challenges is bridging the long-standing “valley of death”—the gap where promising laboratory discoveries fail to become viable products due to scale-up challenges and real-world deployment complexities.

Participants noted that current lab processes, designed primarily for human operation, create bottlenecks incompatible with the speed and precision of autonomous systems. By contrast, autonomous workflows could produce “born-qualified” materials, integrating considerations like cost, scalability, and performance from the earliest research stages.

A key voice at the event was Sergei V. Kalinin, a professor at the University of Tennessee, Knoxville, and a globally recognized pioneer in autonomous materials science.

“The energy at the ARROWS workshop was palpable,” Kalinin said. “It marked a pivotal moment where the community’s conversation shifted from ‘What can automation do?’ to ‘How quickly can it deliver real-world impact?’ I feel the event solidified our collective mission—to build a future where the discovery, optimization, and scale-up of new materials happens not sequentially over decades but as a single, unified process that provides solutions at the speed of need.”

What Is Needed for Autonomous Science To Succeed

Today, autonomous science is still in its infancy. At the workshop, discussions converged on four key pillars that are needed to make AI an impactful partner in the lab.

Metrics for Real-World Impact: Developing new AI reward functions and metrics that emphasize cost, manufacturability, and resource efficiency.

Intelligent Tools for Causal Understanding: Shifting from correlation-focused machine learning toward causal models that provide deep, physics-based insights.

Modular, Interoperable Infrastructure: Overcoming barriers posed by legacy equipment and proprietary data formats through modular workflows and standardized platforms for data sharing.

Closing the Loop from Theory to Manufacturing: Using agent-based AI models to connect theory, synthesis, characterization, and scale-up in a continuous learning cycle.

Collaboration Between Industry, Universities, and National Laboratories Is Crucial

Industry stakeholders at the workshop expressed their excitement for collaboration on autonomous research methods.

“In industry, the pace of innovation is relentless, and the traditional materials R&D cycle is a significant bottleneck,” said Nathan Park, senior research staff member in Strategic Partnerships and Technology Incubation at IBM Research. “This is precisely why partnerships with national labs and universities are essential. They are the engines of fundamental discovery and talent. By combining their deep domain expertise with our AI platforms and our knowledge of market challenges, we can build a powerful innovation pipeline. Collaborative events like ARROWS are crucial for aligning all our efforts to solve tangible problems much faster than any of us could alone.”

Workshop attendees are drafting an upcoming scientific article to detail the largest opportunities for autonomous science and to provide a comprehensive roadmap for researchers, industry partners, and policymakers aiming to harness autonomous experimentation.

“What was so energizing about the ARROWS workshop was seeing this vibrant community rally around a single, critical idea—closing the gap between discovery and deployment,” said Spurgeon, the NREL workshop organizer. “We are at a turning point where we can build intelligent systems that codesign the robust materials our country needs. By accelerating research this way, we can accelerate the growth of resilient, affordable, and abundant American energy.”

Microsoft-backed (MSFT) AI firm OpenAI recently launched GPT-5, but CEO Sam Altman has already announced that GPT-6 is in development, and that it’s coming sooner than expected. While he didn’t give a release date, Altman made it clear that GPT-6 will be more advanced and personal. Indeed, it won’t just respond to your questions but it will learn your preferences, habits, and personality to tailor its responses to you. According to Altman, the key to this personalization is memory. The system needs to remember who you are and what you like in order to offer a more meaningful experience.

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Altman also said that future versions of ChatGPT will follow a new executive order from the Trump administration that requires federal AI tools to remain politically neutral but customizable. This means users will be able to adjust the AI’s tone to match their views. At the same time, Altman admitted that GPT-5’s initial rollout received backlash after users said that it felt cold and less helpful than earlier models. In response, OpenAI quietly updated the model to make its tone warmer, which is an improvement that Altman believes has made a big difference.

Despite progress, there are still privacy concerns. In fact, Altman noted that temporary memory in ChatGPT isn’t yet encrypted, which raises risks when handling sensitive information. Nevertheless, he said that encryption is likely coming, though no date has been set. In addition, when looking further ahead, Altman is exploring brain-computer interfaces, where AI could respond to your thoughts directly. However, while his team continues to improve ChatGPT for everyday use, Altman admitted that chatbot performance may have peaked for now.

Is MSFT Stock a Buy?

Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 34 Buys and one Hold assigned in the last three months. In addition, the average MSFT price target of $623.60 per share implies 22.4% upside potential.

See more MSFT analyst ratings

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(Bloomberg) — Wall Street’s summer calm cracked as a selloff in big tech sent major stock gauges lower, underscoring the market’s narrow reliance on a handful of growth giants.

The Nasdaq 100 slid 1.5% — its second-worst drop since April’s tariff shock — led by a rout in Nvidia Corp. That pressure overwhelmed gains in over 300 S&P 500 names, exposing the fragility of an index propped up by megacap muscle. Home Depot Inc.’s results lifted big-box retailers, while Intel Corp. jumped as the US is ironing out the details of a deal for the US to take a 10% stake.

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Treasuries rose ahead of Jerome Powell’s Jackson Hole speech Friday, with traders firming up bets on a September cut. Ten-year yields slid three basis points to 4.30%. S&P Global Ratings said revenues from tariffs will help soften the blow to the US’s fiscal health from tax cuts, enabling it to maintain its current credit grade. The crypto world was engulfed in the rout in riskier assets.

Positioning across US equity markets remains at elevated levels following a strong second-quarter reporting season, according to Citigroup Inc. strategists including Chris Montagu. Individual investors are likely to slow their torrid pace of stock buying in September before resuming later this year, said Scott Rubner at Citadel Securities.

“It is always easier when the markets are going up,” said Nicholas Bohnsack at Strategas. “It is difficult to poke holes in the bull case; the path of least resistance is likely higher, but we find ourselves increasingly worried that traditional risk assets (stocks and bonds) appear priced to perfection.”

Options traders worrying about tech weakness after a torrid surge have been trying to protect themselves with “disaster” puts on the Invesco QQQ Trust Series 1 ETF, according Jeff Jacobson at 22V Research. A measure showing the difference between the cost of hedging against a sharp downturn and a smaller one is at an almost three-year high.

Earlier this month, Bank of America Corp. strategists led by Michael Hartnett said the rally that’s propelled the so-called Magnificent Seven stocks about 40% higher since April looks stretched. Hartnett has repeatedly warned of a bubble risk in US stocks this year.

The technology sector reclaimed its spot as the S&P 500’s top performer last quarter, helping indexes rise to all-time highs, noted Bret Kenwell at eToro. While valuations appear stretched, elevated growth expectations help justify prices, and AI enthusiasm as well as momentum can help keep tech in the driver seat, he said.

“Whether money continues to flow into the ‘Magnificent Seven’ leaders or rotate within the group, investors will likely look for tech’s continued leadership in the second half of 2025,” he noted.

Traders are also gearing up for Powell’s speech on Friday in Jackson Hole, Wyoming, with the Treasury market seeing a quarter-point rate cut next month as virtually a lock and at least one more by year-end.

“As the market readies for Powell’s speech at Jackson Hole, we’ll argue that the biggest risk for Treasuries is if the Fed chief chooses to throw cold water on the widely anticipated September rate cut,” said Ian Lyngen at BMO Capital Markets.

While this is not Lyngen’s base-case scenario, he says the front-end of the curve is vulnerable to a correction if Powell doesn’t deliver on the degree of dovishness currently anticipated.

Investors are waiting to see if Powell affirms the market pricing — or pushes back with a reminder that new data arriving before the next policy gathering could change the picture. They’re also looking for clues about the longer-run trajectory of Fed cuts into next year.

“The market is all but pricing in a certainty for rate cuts in September and we agree with the market’s expectations,” said Stephen Schwartz at Pioneer Financial. “Rate cuts are warranted as financial conditions are too tight right now given the softening of the inflation data and the cracks we are starting to see in the labor market.”

A couple of weeks ago, when the latest jobs report revealed a slump in hiring, the case for lower rates appeared all but closed. Then came the sharpest spike in US wholesale prices in three years – fuel for the concern about tariff-led inflation that’s kept Fed officials on hold so far this year.

While the recent inflation data has been volatile with some conflicting signals, Schwartz says there’s a market perception that the inflation surge from 2022 is behind us.

“While we expect some near-term volatility, we believe markets will continue to move past the inflation situation, and that the economy and the US consumer are strong enough to continue growing,” he said.

At Bank of America Corp., strategists including Mark Cabana and Meghan Swiber say they don’t think Powell will sound as dovish as the market expects.

“Powell’s reaction function to recent stagflationary data will be key,” they noted. “Will he be spooked by jobs revisions or lean into the labor supply slowdown?”

In an interview with Bloomberg Television, Fed Governor Michelle Bowman deflected when asked if she would be interested in leading the central bank as chair.

On the geopolitical front, President Donald Trump urged Russia’s Vladimir Putin and Ukraine’s Volodymyr Zelenskiy to show some “flexibility” as the US president accelerates his efforts to end the war in Ukraine and encourages the two leaders to hold a bilateral summit.

“While there’s a sense that the path to peace is at least slightly clearer, traders remain wary,” said Fawad Razaqzada at City Index and Forex.com. “And rightly so – the toughest conversations, namely over territory, still lie ahead.”

Corporate Highlights:

SoftBank Group Corp. agreed to buy $2 billion of Intel Corp. stock, a surprise deal to shore up a struggling US name while boosting its own chip ambitions. Meta Platforms Inc. is splitting its newly formed artificial intelligence group into four distinct teams and reassigning many of the company’s existing AI employees, an attempt to better capitalize on billions of dollars’ worth of recently acquired talent. Palo Alto Networks Inc. gave a stronger-than-expected annual forecast, as the company seeks to provide customers with a bundle of AI-enabled cybersecurity products to fend off attacks. Apple Inc. is expanding iPhone production in India at five factories, including a pair of recently opened plants, as it seeks to lessen its reliance on China for US-bound models. Tesla Inc. priced its new six-seat Model Y sport utility vehicle in the same range as local rival Li Auto Inc.’s extended-range L8 model to win over middle-class families in China’s hyper-competitive market. Commerce Secretary Howard Lutnick said he’d support consolidation as a means to make the US freight rail industry more efficient, a potential boost for Union Pacific Corp.’s $72 billion takeover of Norfolk Southern Corp. Ford Motor Co. and South Korea’s SK On are seeking buyers for excess battery supply produced at their new joint-venture Kentucky factory, underscoring the waning demand for electric vehicles in the US. Viking Therapeutics Inc.’s experimental obesity pill disappointed in a mid-stage study, marking another weaker-than-expected result for an oral alternative to popular weight-loss injections. Starbucks Corp. will give all salaried employees in North America a 2% raise this year as the coffee chain looks to pull off a high-stakes turnaround and manage expenses. Anglo American Plc suffered a major setback to its restructuring plans after Peabody Energy Corp. decided to walk away from a $3.8 billion deal to buy its steelmaking coal business following a fire at an Australian mine. US power and natural gas utilities Black Hills Corp. and NorthWestern Energy Group agreed to merge in a $3.6 billion deal that underscores the boom for electricity demand that’s being unleashed by data centers. Nexstar Media Group Inc. has agreed to buy TV station operator Tegna Inc. for $3.5 billion in a cash deal that stands to dramatically expand Nexstar’s reach to 80% of US households and test the Trump administration’s appetite for consolidation. Medtronic Plc will expand its board after Elliott Investment Management became one of its biggest investors. The medical devices maker also reported profit that beat estimates and lifted full-year earnings guidance. Amer Sports Inc. shares fell after one of its key divisions posted the slowest sales growth on record. Air Canada will restart flights Tuesday evening after reaching a deal with flight attendants to end a three-day walkout that led to mass cancellations during the busy summer season and upended the carrier’s financial outlook. BHP Group’s full-year underlying profit fell by more than a quarter to its lowest level since the pandemic, broadly in line with market expectations, as prices of its key earners — iron ore and coking coal — came under pressure from softer Chinese demand. Shein Group Ltd. has considered moving its base back to China in the hopes that it would help sway Beijing authorities to sign off on the fast-fashion retailer’s plans to go public in Hong Kong, according to people familiar with the matter. What Bloomberg Strategists say…

“The Fed’s current stance of remaining open to rate cuts because of benign inflation data is the Goldilocks scenario that’s both keeping the Treasury curve from steepening, and allowing the Magnificent Seven earnings and wider S&P 500 margin story to reign supreme.”

— Edward Harrison, Macro Strategist, Markets Live.

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Some of the main moves in markets:

Stocks

The S&P 500 fell 0.7% as of 3:03 p.m. New York time The Nasdaq 100 fell 1.5% The Dow Jones Industrial Average fell 0.1% The MSCI World Index fell 0.5% Bloomberg Magnificent 7 Total Return Index fell 1.8% The Russell 2000 Index fell 0.9% S&P 500 Equal Weighted Index rose 0.3% Intel rose 7% Currencies

The Bloomberg Dollar Spot Index rose 0.2% The euro fell 0.1% to $1.1645 The British pound fell 0.2% to $1.3483 The Japanese yen rose 0.2% to 147.53 per dollar Cryptocurrencies

Bitcoin fell 3.1% to $112,852.42 Ether fell 4.6% to $4,132.87 Bonds

The yield on 10-year Treasuries declined three basis points to 4.30% Germany’s 10-year yield declined one basis point to 2.75% Britain’s 10-year yield was little changed at 4.74% The yield on 2-year Treasuries declined one basis point to 3.75% The yield on 30-year Treasuries declined three basis points to 4.90% Commodities

West Texas Intermediate crude fell 1.5% to $62.49 a barrel Spot gold fell 0.4% to $3,318.61 an ounce ©2025 Bloomberg L.P.