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  • Meet the meteorite hunters chasing space rocks that can fetch US$400 a gram

    Meet the meteorite hunters chasing space rocks that can fetch US$400 a gram

    It only took Ed Albin a few steps on June 29 to spot it as he wandered onto an empty construction site about 45 minutes southeast of Atlanta, in the US state of Georgia.

    “Oh my God,” he said, crouching down to take a look at his find. “Oh my God.”

    Perched on the dirt, like it just fell from the sky, was not just any old rock. It was a chunk of the Georgia fireball that had blazed across the sky on June 26 and disintegrated 43km (27 miles) above West Forest, in Covington, on its way southeast.

    In a floppy sun hat and pink shirt, Albin tested the meteorite with a rare earth magnet attached to a metal pole. It gave a faint hint of magnetic attraction, its nickel iron flecks pulling it toward the magnet – proof of its descent from outer space.

    Another hunter, Sonny Clary, ran over to take a look.

    “Millions of years flying in outer space,” he said in awe. “How cool is that?”

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  • Wabtec Finalizes Acquisition of Evident’s Inspection Technologies Division

    Wabtec Finalizes Acquisition of Evident’s Inspection Technologies Division

    PITTSBURGH, July 1, 2025 – Wabtec Corporation (NYSE: WAB) announced today that it completed the acquisition of Evident’s Inspection Technologies division (Inspection Technologies), formerly part of the Scientific Solutions Division of Olympus Corporation, a global leader in Non-Destructive Testing, Remote Visual Inspection and Analytical Instruments solutions for mission critical assets. This acquisition strengthens Wabtec’s Digital Intelligence business with industry-leading inspection technologies that enhance customer productivity, reliability, and safety, while also positioning the company for accelerated, profitable growth.

    “Today, we are a stronger company with the addition of Inspection Technologies,” said Rafael Santana, President and CEO of Wabtec. “The acquisition expands and strengthens our Digital Intelligence business, with advanced products and services for the Company’s rail, mining, and industrial sectors, while broadening our reach into other high-growth, high-margin end-markets. It enhances Wabtec’s existing portfolio, is accretive to key financial metrics, and aligns with the company’s long-term vision to lead the industry in innovation for our customers.”

    The strategic acquisition helps accelerate Wabtec’s growth trajectory and meets the increasing demand for advanced diagnostic technologies. It also aligns with Wabtec’s stated growth drivers, including accelerating the innovation of scalable technologies, increasing the installed base, expanding high-margin recurring revenues, and driving continuous operational improvements. Additionally, acquiring Inspection Technologies expands Wabtec’s Digital Intelligence business growth opportunities and recurring revenue, effectively doubling the size of its total addressable market (TAM) from approximately $8 billion to $16 billion, while enhancing its ability to deliver innovative solutions to a broader range of customers.

    “Inspection Technologies’ product portfolio strongly complements our existing digital technologies, while adding advanced automated inspection capabilities in a space where data acquisition, analytics, and automation are critical,” said Nalin Jain, President of Wabtec’s Digital Intelligence Group. “It will accelerate the development of scalable technologies by integrating advanced analytics, sensors, and AI technology to deliver enhanced predictive maintenance capabilities to our customers. Evident Inspection Technology employees have done a fantastic job in delivering these innovative technologies and I am looking forward to welcoming them to the Wabtec family.” 

    TRANSACTION DETAILS

    Wabtec acquired Evident’s Inspection Technologies division for $1.78 billion (~$1.68 billion after tax benefits). The transaction was financed through a combination of cash on hand, newly issued term notes, plus term loans and short-term borrowing under the Company’s credit agreement. The transaction is anticipated to provide immediate shareholder value with a high single-digit revenue growth outlook, accretive Adjusted EBIT margins and accretive return on invested capital (ROIC) over time.  Additionally, the acquisition is projected to be slightly accretive to Adjusted EPS in the second half of 2025.  The purchase price reflects an estimated multiple of 12.0x projected 2025 EBITDA adjusted for transaction and separation costs, anticipated tax benefits, and projected run-rate cost synergies of $25 million.  The Company intends to incorporate the revenue and EPS impact of this acquisition into its Full Year Financial Guidance during its Q2 Earnings call.

    About Wabtec Corporation
    Wabtec Corporation is revolutionizing the way the world moves for future generations. The Company is a leading global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets. Wabtec has been a leader in the rail industry for 155 years and has a vision to achieve a sustainable rail system in the U.S. and worldwide. Visit Wabtec’s website at http://www.wabteccorp.com.

    About Evident Inspection Technologies Division
    Evident’s Inspection Technologies and Microscopy divisions were established in 2022 when Olympus Corporation spun off its Scientific Solutions Division to form a new company. Evident’s Inspection Technologies division delivers solutions that solve complex challenges, inspecting mission-critical assets and infrastructure with nondestructive testing, remote visual inspection, and analytical instruments for maintenance, manufacturing, and environmental applications. Visit Evident’s website at ims.evidentscientific.com.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. securities laws, including statements regarding the expected benefits of the Inspection Technologies acquisition, the anticipated synergies of the transaction, the expected impact on Wabtec’s operational and financial performance, (including business growth opportunities and TAM), and certain projected financial results of Inspection Technologies. These statements and all statements other than historical facts constitute forward-looking statements concerning future circumstances and results and are sometimes identified by the words “anticipate,” “estimate,” “expect,” “outlook,” “position,” “project,” “recur,” “strategy,” and “will” or other similar words or expressions. Forward-looking statements are based upon current plans, assumptions, estimates and expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. For more information on these risks, please refer to Wabtec’s filings with the SEC.  Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) unexpected costs, charges or expenses resulting from the transaction; (2) uncertainty of the expected financial performance of Inspection Technologies and the combined company following completion of the transaction; (3) risks associated with the integration of Inspection Technologies and the potential for failure to realize the anticipated benefits and synergies of the transaction; (4) the ability of the combined company to implement its business strategy; (5) inability to retain key personnel; (6) changes in general economic and/or industry specific conditions; and (7) other risk factors as detailed from time to time in Wabtec’s reports filed with the Securities and Exchange Commission. The foregoing list of important factors is not exclusive.

    This press release also contains certain non-GAAP measures. Non-GAAP measures should not be considered as a substitute for items calculated in accordance with GAAP, as they are subject to inherent material limitations.

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  • NASA Missions Aid Prediction of Solar Storm Severity

    NASA Missions Aid Prediction of Solar Storm Severity

    An unexpectedly strong solar storm rocked our planet on April 23, 2023, sparking auroras as far south as southern Texas in the U.S. and taking the world by surprise.

    Two days earlier, the Sun blasted a coronal mass ejection (CME) – a cloud of energetic particles, magnetic fields, and solar material – toward Earth. Space scientists took notice, expecting it could cause disruptions to Earth’s magnetic field, known as a geomagnetic storm. But the CME wasn’t especially fast or massive, and it was preceded by a relatively weak solar flare, suggesting the storm would be minor. But it became severe.

    Using NASA heliophysics missions, new studies of this storm and others are helping scientists learn why some CMEs have more intense effects – and better predict the impacts of future solar eruptions on our lives.

    During the night of April 23 to 24, 2023, a geomagnetic storm produced auroras that were witnessed as far south as Arizona, Arkansas, and Texas in the U.S. This photo shows green aurora shimmering over Larimore, North Dakota, in the early morning of April 24.

    Copyright Elan Azriel, used with permission

    Why Was This Storm So Intense?

    A paper published in the Astrophysical Journal on March 31 suggests the CME’s orientation relative to Earth likely caused the April 2023 storm to become surprisingly strong.

    The researchers gathered observations from five heliophysics spacecraft across the inner solar system to study the CME in detail as it emerged from the Sun and traveled to Earth.

    They noticed a large coronal hole near the CME’s birthplace. Coronal holes are areas where the solar wind – a stream of particles flowing from the Sun – floods outward at higher than normal speeds.

    “The fast solar wind coming from this coronal hole acted like an air current, nudging the CME away from its original straight-line path and pushing it closer to Earth’s orbital plane,” said the paper’s lead author, Evangelos Paouris of the Johns Hopkins Applied Physics Laboratory in Laurel, Maryland. “In addition to this deflection, the CME also rotated slightly.”

    Paouris says this turned the CME’s magnetic fields opposite to Earth’s magnetic field and held them there – allowing more of the Sun’s energy to pour into Earth’s environment and intensifying the storm.

    The strength of the April 2023 geomagnetic storm was a surprise in part because the coronal mass ejection (CME) that produced it followed a relatively weak solar flare, seen as the bright area to the lower right of center in this extreme ultraviolet image of the Sun from NASA’s Solar Dynamics Observatory. The CMEs that produce severe geomagnetic storms are typically preceded by stronger flares. However, a team of scientists think fast solar wind from a coronal hole (the dark area below the flare in this image) helped rotate the CME and made it more potent when it struck Earth.

    NASA/SDO

    Cool Thermosphere

    Meanwhile, NASA’s GOLD (Global-scale Observations of Limb and Disk) mission revealed another unexpected consequence of the April 2023 storm at Earth.

    Before, during, and after the storm, GOLD studied the temperature in the middle thermosphere, a part of Earth’s upper atmosphere about 85 to 120 miles overhead. During the storm, temperatures increased throughout GOLD’s wide field of view over the Americas. But surprisingly, after the storm, temperatures dropped about 90 to 198 degrees Fahrenheit lower than they were before the storm (from about 980 to 1,070 degrees Fahrenheit before the storm to 870 to 980 degrees Fahrenheit afterward).

    “Our measurement is the first to show widespread cooling in the middle thermosphere after a strong storm,” said Xuguang Cai of the University of Colorado, Boulder, lead author of a paper about GOLD’s observations published in the journal JGR Space Physics on April 15, 2025.

    The thermosphere’s temperature is important, because it affects how much drag Earth-orbiting satellites and space debris experience.

    “When the thermosphere cools, it contracts and becomes less dense at satellite altitudes, reducing drag,” Cai said. “This can cause satellites and space debris to stay in orbit longer than expected, increasing the risk of collisions. Understanding how geomagnetic storms and solar activity affect Earth’s upper atmosphere helps protect technologies we all rely on – like GPS, satellites, and radio communications.”

    Predicting When Storms Strike

    To predict when a CME will trigger a geomagnetic storm, or be “geoeffective,” some scientists are combining observations with machine learning. A paper published last November in the journal Solar Physics describes one such approach called GeoCME.

    Machine learning is a type of artificial intelligence in which a computer algorithm learns from data to identify patterns, then uses those patterns to make decisions or predictions.

    Scientists trained GeoCME by giving it images from the NASA/ESA (European Space Agency) SOHO (Solar and Heliospheric Observatory) spacecraft of different CMEs that reached Earth along with SOHO images of the Sun before, during, and after each CME. They then told the model whether each CME produced a geomagnetic storm.

    Then, when it was given images from three different science instruments on SOHO, the model’s predictions were highly accurate. Out of 21 geoeffective CMEs, the model correctly predicted all 21 of them; of 7 non-geoeffective ones, it correctly predicted 5 of them.

    “The algorithm shows promise,” said heliophysicist Jack Ireland of NASA’s Goddard Space Flight Center in Greenbelt, Maryland, who was not involved in the study. “Understanding if a CME will be geoeffective or not can help us protect infrastructure in space and technological systems on Earth. This paper shows machine learning approaches to predicting geoeffective CMEs are feasible.”

    The white cloud expanding outward in this image sequence is a coronal mass ejection (CME) that erupted from the Sun on April 21, 2023. Two days later, the CME struck Earth and produced a surprisingly strong geomagnetic storm. The images in this sequence are from a coronagraph on the NASA/ESA (European Space Agency) SOHO (Solar and Heliospheric Observatory) spacecraft. The coronagraph uses a disk to cover the Sun and reveal fainter details around it. The Sun’s location and size are indicated by a small white circle. The planet Jupiter appears as a bright dot on the far right.

    NASA/ESA/SOHO

    Earlier Warnings

    During a severe geomagnetic storm in May 2024 – the strongest to rattle Earth in over 20 years – NASA’s STEREO (Solar Terrestrial Relations Observatory) measured the magnetic field structure of CMEs as they passed by.

    When a CME headed for Earth hits a spacecraft first, that spacecraft can often measure the CME and its magnetic field directly, helping scientists determine how strong the geomagnetic storm will be at Earth. Typically, the first spacecraft to get hit are one million miles from Earth toward the Sun at a place called Lagrange Point 1 (L1), giving us only 10 to 60 minutes advanced warning.

    By chance, during the May 2024 storm, when several CMEs erupted from the Sun and merged on their way to Earth, NASA’s STEREO-A spacecraft happened to be between us and the Sun, about 4 million miles closer to the Sun than L1.

    A paper published March 17, 2025, in the journal Space Weather reports that if STEREO-A had served as a CME sentinel, it could have provided an accurate prediction of the resulting storm’s strength 2 hours and 34 minutes earlier than a spacecraft could at L1.

    According to the paper’s lead author, Eva Weiler of the Austrian Space Weather Office in Graz, “No other Earth-directed superstorm has ever been observed by a spacecraft positioned closer to the Sun than L1.”

    Earth’s Lagrange points are places in space where the gravitational pull between the Sun and Earth balance, making them relatively stable locations to put spacecraft.

    NASA

    /Public Release. This material from the originating organization/author(s) might be of the point-in-time nature, and edited for clarity, style and length. Mirage.News does not take institutional positions or sides, and all views, positions, and conclusions expressed herein are solely those of the author(s).View in full here.

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  • What the key witnesses at Sean 'Diddy' Combs' sex trafficking trial told the jury – San Francisco Chronicle

    1. What the key witnesses at Sean ‘Diddy’ Combs’ sex trafficking trial told the jury  San Francisco Chronicle
    2. Diddy jury to keep deliberating after deadlocking on most serious charge  BBC
    3. June 30, 2025 – Jury begins deliberations in the Sean ‘Diddy’ Combs trial  CNN
    4. Sean ‘Diddy’ Combs trial updates: Judge tells jury to keep deliberating after partial verdict  ABC News – Breaking News, Latest News and Videos
    5. Jury reaches partial verdict in Sean ‘Diddy’ Combs sex-trafficking trial  The Express Tribune

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  • Squid Game season three breaks Netflix viewership record | Squid Game

    Squid Game season three breaks Netflix viewership record | Squid Game

    The third and final season of hit Korean series Squid Game has broken records to achieve the biggest ever TV launch for Netflix.

    Over its first three days, there have been over 60.1m views, a new high for the streamer with over 368.4m hours viewed. The second season launched with 68m views but over a four-day period last December.

    It has already become the ninth biggest non-English language season ever with the first and second seasons occupying the top two slots.

    Reviews have been mixed to positive with the Guardian’s Rebecca Nicholson calling it “nowhere near as pointed as it was” in previous seasons.

    While this has been called the final season, David Fincher has been rumoured to be developing an English language remake for the streamer. The director has worked with Netflix before on political drama series House of Cards, film industry biopic Mank and Michael Fassbender action thriller The Killer. Earlier this year, it was announced that he would work with them once again to direct a sequel to Once Upon a Time in Hollywood based on a script by Quentin Tarantino.

    The streamer has already found success with competition spin-off Squid Game: The Challenge with a second season on the way.

    When asked about future Squid Game projects, series creator Hwang Dong-hyuk told Variety that he hadn’t heard anything official yet about a remake.

    “If they wanted to do a following season, then I think it’s obvious I would have to participate and lead,” he said. “But if it’s the US version that they’re making, I think sharing of ideas would be enough. I have no intention of being completely hands-on in a project like that. Having said that, if Netflix asks and if I feel like my contribution is needed, then as long as it’s not something that would interfere with whatever I’m working on at that time, I would be happy to provide what they need from me.”

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  • Cardiac MRI Study Affirms Link Between Air Pollution Exposure and Increased Diffuse Myocardial Fibrosis

    Cardiac MRI Study Affirms Link Between Air Pollution Exposure and Increased Diffuse Myocardial Fibrosis

    Air pollution exposure can be a key contributing factor to increasingly diffuse myocardial fibrosis, according to cardiac magnetic resonance imaging (MRI) findings from a new study.

    For the retrospective study, recently published in Radiology, researchers reviewed cardiac MRI data for 694 patients (mean age of 47), including 493 people with dilated cardiomyopathy (DCM) and 201 people with normal cardiac MRI.

    In a multivariable analysis, the study authors found that for patients with DCM, each 1 µg/m3 increase in one-year mean exposure to ambient fine particulate matter with 2.5-µm or smaller aerodynamic diameter (PM2.5) corresponded to a 30 percent higher native T1 z score.

    In a new cardiac MRI study, researchers noted that patients with higher long-term exposure to fine particulate air pollution demonstrated a higher extent of myocardial fibrosis as evidenced by the cardiac T1 MRI mapping images above. (Images courtesy of Radiology.)

    The researchers also noted that each 1 µg/m3 increase in one-year mean exposure to PM2.5 was associated with a 27 percent higher native T1 z score in people with normal cardiac MRI findings.

    “In line with other studies, our results indicate that adverse effects of fine particulate air pollution on the heart are observed at exposures below current air quality guidelines, reinforcing that there are no safe exposure limits. Our results bolster evidence that air pollution is a modifiable risk factor for cardiovascular disease,” noted study co-author Kate Hanneman, M.D., MPH, FRCPC, an associate professor and vice chair of research with the Department of Medical Imaging at the University of Toronto, and colleagues.

    Late gadolinium enhancement (LGE) was 25 percent more likely for each 1 µg/m3 increase in one-year mean exposure to PM2. in patients with DCM, according to the study authors.

    The researchers also found that the association between ambient PM2.5 exposure and native T1 z scores was particularly prevalent among women (β coefficient of 49 percent), people with hypertension (β coefficient of 48 percent) and smokers (β coefficient of 43 percent).

    “Myocardial fibrosis is irreversible; therefore, it is imperative to implement measures to reduce exposure to long-term air pollution, especially in the most vulnerable patients,” emphasized Hanneman and colleagues.

    Three Key Takeaways

    1. Air pollution correlates with myocardial fibrosis. Each 1 µg/m³ increase in PM2.5 exposure over one year was linked to a 30 percent higher native T1 z score in patients with dilated cardiomyopathy (DCM) and a 27 percent increase in individuals with normal cardiac MRI findings, indicating diffuse myocardial fibrosis.
    2. Risk is heightened in vulnerable subgroups. Stronger associations between PM2.5 exposure and elevated native T1 z scores were observed in women (49 percent), individuals with hypertension (48 percent), and smokers (43 percent).
    3. Pollution exposure linked to structural heart changes. Among patients with DCM, each 1 µg/m³ increase in PM2.5 exposure was associated with a 25 percent higher likelihood of late gadolinium enhancement (LGE), further indicating structural myocardial injury.

    In an accompanying editorial, Davis M. Vigneault, M.D., D.Phil, said the study builds upon previous biochemical and epidemiological studies demonstrating elevated cardiovascular risks with air pollution exposure.

    “… This study provides new and compelling evidence for a potential pathologic mechanism by which fine particulate matter pollution increases cardiovascular risk, tying together biochemical evidence implicating PM2.5 in the induction of myocardial fibrosis with epidemiologic evidence associating PM2.5 with morphologic changes and increased cardiovascular morbidity and mortality,” wrote Dr. Vigneault, who is affiliated with the Department of Radiology at the Stanford University School of Medicine in Stanford, Ca.

    (Editor’s note: For related content, see “Could Cardiac MRI Improve Risk Stratification in Patients with Dilated Cardiomyopathy?,” “Stress Cardiovascular MRI: What a New Meta-Analysis Reveals” and “Multimodal AI with CCTA and MRI Data Shows Promise in Predicting MACE in Patients with Obstructive CAD.”)

    Beyond the inherent limitations of a single-center retrospective study, the study authors conceded possible differences with respect to the timing of exposure to PM2.5, and potentially unknown confounding factors that may have affected the results. The researchers acknowledged that indoor PM2.5, ozone and nitrogen dioxide exposures were not assessed. They also noted that the COVID-19 pandemic occurred within the study period.

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  • Wall Street Revives Big-to-Small Stock Rotation: Markets Wrap

    Wall Street Revives Big-to-Small Stock Rotation: Markets Wrap

    (Bloomberg) — Wall Street traders drove a rotation out of the tech megacaps that had powered stocks from the brink of a bear market. Bond yields rose as an increase in job openings dimmed the outlook for Federal Reserve rate cuts. The dollar remained at its lowest since 2022.

    While the S&P 500 barely budged after notching all-time highs, a violent rotation took place at the start of July, with money chasing losers at the expense of recent winners. Momentum was unwinding at a pace not seen in over two years, and the small-cap Russell 2000 index beat the tech-heavy Nasdaq 100 by the most since April.

    Subscribe to the Stock Movers Podcast on Apple, Spotify and other Podcast Platforms.   

    “If you’re long recent winners and are feeling the pain today, we would not be making any dramatic portfolio shifts just yet,” said Bespoke Investment Group strategists. “It could be the start of a longer-term shift that develops, but a one-day move is simply too soon to tell.”

    Short-dated Treasuries, which are more sensitive to imminent Fed moves, underperformed longer maturities.

    US job openings hit the highest since November, largely fueled by leisure and hospitality, and layoffs declined. Fed policymakers have consistently characterized labor-market conditions as strong in recent weeks.

    “As long as the labor market remains solid, the US economy can continue to chug ahead, while helping reduce the risk of stagflation” said Bret Kenwell at eToro. “It would also buy the Fed more breathing room when it comes to interest rates.”

    Speaking Tuesday during a panel in Portugal, Fed Chair Jerome Powell repeated that the central bank probably would have cut rates further this year absent Trump’s expanded use of tariffs. Still, when asked if July was too soon for a rate cut, Powell didn’t rule out the possibility.

    The government’s June employment report, due Thursday, is expected to show a slowdown in nonfarm payroll growth and an uptick in the unemployment rate.

    “Federal Reserve interest-rate policy is likely on hold for now,” said Josh Hirt at Vanguard. “If the labor market remains on the trajectory we expect, the Fed can afford to be patient. We anticipate the Fed will be able to make two more rate cuts later this year in this environment.”

    Separate data Tuesday showed US factory activity contracted in June for a fourth consecutive month as orders and employment shrank at a faster pace, extending the malaise in manufacturing.

    “While the hit to manufacturing activity from tariffs so far appears to have been limited, the further small rise in the prices paid index last month adds to evidence that firms are facing higher costs as a result,” said Thomas Ryan at Capital Economics.

    Meantime, Trump said he is not considering delaying his July 9 deadline for higher tariffs to resume and renewed his threat to cut off talks and impose duty rates on several nations, including Japan. And his $3.3 trillion tax and spending cut bill passed the Senate.

    Corporate Highlights:

    • Sweeping tax legislation passed by the Senate would make it cheaper for semiconductor manufacturers to build plants in the US, delivering a win to chipmakers and boosting US efforts to expand the industry domestically.
    • Tesla Inc. sank as Trump threatened to withdraw subsidies from Elon Musk’s companies and examine the billionaire’s immigration status.
    • Boeing Co. said Stephen Parker will oversee the defense, space and security unit on a permanent basis, as Chief Executive Officer Kelly Ortberg molds his top leadership team, including the appointment of a new chief financial officer.
    • Ford Motor Co.’s electric vehicle sales plunged 31.4% in the second quarter after the automaker ordered dealers not to sell its battery-powered Mustang Mach-e model due to a safety flaw that could lock occupants in the car.
    • UnitedHealth Group Inc. and Memorial Sloan Kettering Cancer Center resolved a contract dispute that threatened to interrupt treatment for thousands of cancer patients in the New York City area.
    • AMC Entertainment Holdings Inc. said it reached an agreement with a majority of bondholders to end litigation that resulted from the movie theater chain’s debt restructuring last year.
    • Wolfspeed Inc., a chipmaker caught in President Donald Trump’s push to reshape Biden-era tech subsidies, filed bankruptcy to enact a creditor-backed plan to slash $4.6 billion in debt.
    • Macau’s monthly gaming revenue rose 19% in June, exceeding analyst expectations as visitors poured in to the world’s biggest gambling hub for Cantonese pop concerts and other entertainment offerings.

    Some of the main moves in markets:

    Stocks

    • The S&P 500 fell 0.1% as of 4 p.m. New York time
    • The Nasdaq 100 fell 0.9%
    • The Dow Jones Industrial Average rose 0.9%
    • The MSCI World Index fell 0.1%
    • Bloomberg Magnificent 7 Total Return Index fell 1.5%
    • The Russell 2000 Index rose 0.9%

    Currencies

    • The Bloomberg Dollar Spot Index was little changed
    • The euro was little changed at $1.1793
    • The British pound was little changed at $1.3741
    • The Japanese yen rose 0.2% to 143.75 per dollar

    Cryptocurrencies

    • Bitcoin fell 2.1% to $105,393.95
    • Ether fell 4% to $2,404.6

    Bonds

    • The yield on 10-year Treasuries advanced two basis points to 4.25%
    • Germany’s 10-year yield declined three basis points to 2.57%
    • Britain’s 10-year yield declined three basis points to 4.45%

    Commodities

    • West Texas Intermediate crude rose 0.9% to $65.70 a barrel
    • Spot gold rose 1% to $3,337.42 an ounce

    ©2025 Bloomberg L.P.

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  • New study finds U.S. preschoolers widely exposed to potentially harmful chemicals-Xinhua

    LOS ANGELES, July 1 (Xinhua) — Children aged two to four in the United States are widely exposed to a broad range of potentially harmful chemicals, many of which are not currently tracked by national health surveys, according to a new study published Tuesday.

    The study, published in the journal Environmental Science & Technology, was conducted by multiple institutions across the United States and supported by the U.S. National Institutes of Health.

    Researchers analyzed urine samples from 201 children aged two to four in California, Georgia, New York and Washington. They tested for 111 chemicals and detected 96 in at least five children, 48 in more than half, and 34 in over 90 percent of the children tested.

    Many of the chemicals identified are not routinely monitored and may pose health risks, the study warned.

    The detected substances include phthalates and their alternatives, parabens, bisphenols, benzophenones, pesticides, organophosphate esters, polycyclic aromatic hydrocarbons (PAHs) and bactericides. These chemicals are commonly found in household products, personal care items, food packaging, furniture and air pollution.

    Children are exposed to these chemicals through everyday activities such as eating, drinking, playing, and breathing indoor and outdoor air.

    “Our study shows that childhood exposure to potentially harmful chemicals is widespread. This is alarming because we know early childhood is a critical window for brain and body development,” said Deborah H. Bennett, lead author and professor in the Department of Public Health Sciences at the University of California, Davis (UC Davis).

    “Many of these chemicals are known or suspected to interfere with hormones, brain development and immune function,” she noted.

    The researchers stressed the need for further studies to better understand the long-term health impacts of these exposures.

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  • Carnival Corporation & plc Announces Pricing of €1.0 Billion 4.125% Senior Unsecured Notes Offering

    Proceeds from the offering of senior unsecured notes to be used to repay borrowings under the senior secured term loan facilities

    MIAMI, July 1, 2025 /PRNewswire/ — Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today announced that Carnival plc (the “Company”) priced its private offering (the “Notes Offering”) of €1.0 billion aggregate principal amount of 4.125% senior unsecured notes due 2031 (the “Notes”). The Company expects to use the proceeds from the Notes Offering to fully repay the borrowings under Carnival Corporation’s first-priority senior secured term loan facility maturing in 2027 (the “2027 Term Loan Facility”) and to repay a portion of the borrowings under Carnival Corporation’s first-priority senior secured term loan facility maturing in 2028. In conjunction with the Company’s prepayment of $450.0 million on June 27, 2025 towards the 2027 Term Loan Facility, this transaction builds on its continuing efforts to deleverage, reduce interest expense, simplify its capital structure and manage its maturity profile.

    The Notes Offering is expected to close on July 7, 2025, subject to customary closing conditions. The indenture that will govern the Notes will have investment grade-style covenants.

    The Notes will pay interest annually on July 15 of each year, beginning on July 15, 2026, at a rate of 4.125% per year. The Notes will be unsecured and will mature on July 15, 2031. The Notes will be fully and unconditionally guaranteed on an unsecured basis, jointly and severally, by Carnival Corporation and initially certain of the Company’s and Carnival Corporation’s subsidiaries that also guarantee our first-priority secured indebtedness, certain of our other unsecured notes and our convertible notes.

    The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States, only to non-U.S. investors pursuant to Regulation S under the Securities Act.

    The Notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

    This press release shall not constitute an offer to sell or the solicitation of an offer to purchase the Notes or any other securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offering, solicitation or sale would be unlawful.

    About Carnival Corporation & plc

    Carnival Corporation & plc is the largest global cruise company, and among the largest leisure travel companies, with a portfolio of world-class cruise lines – AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises, Princess Cruises and Seabourn.

    Cautionary Note Concerning Forward-Looking Statements

    Certain statements in this press release constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, the financing transactions described herein, future results, operations, outlooks, plans, goals, reputation, cash flows and liquidity and other events which have not yet occurred. Forward-looking statements reflect management’s current expectations and are subject to risks, uncertainties and other factors that could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Factors that could affect our results include, among others, those discussed under the caption “Risk Factors” in our most recent annual report on Form 10-K, as well as our other filings with the Securities and Exchange Commission (the “SEC”), copies of which may be obtained by visiting the  Investor Relations page of our website at www.carnivalcorp.com/investors/ or the SEC’s website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to us on the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    SOURCE Carnival Corporation & plc

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  • VAMO proposes an alternative to architectural permanence | MIT News

    VAMO proposes an alternative to architectural permanence | MIT News

    The International Architecture Exhibition of La Biennale di Venezia holds up a mirror to the industry — not only reflecting current priorities and preoccupations, but also projecting an agenda for what might be possible. 

    Curated by Carlo Ratti, MIT professor of practice of urban technologies and planning, this year’s exhibition (“Intelligens. Natural. Artificial. Collective”) proposes a “Circular Economy Manifesto” with the goal to support the “development and production of projects that utilize natural, artificial, and collective intelligence to combat the climate crisis.” 

    Designers and architects will quickly recognize the paradox of this year’s theme. Global architecture festivals have historically had a high carbon footprint, using vast amounts of energy, resources, and materials to build and transport temporary structures that are later discarded. This year’s unprecedented emphasis on waste elimination and carbon neutrality challenges participants to reframe apparent limitations into creative constraints. In this way, the Biennale acts as a microcosm of current planetary conditions — a staging ground to envision and practice adaptive strategies.

    VAMO (Vegetal, Animal, Mineral, Other)

    When Ratti approached John Ochsendorf, MIT professor and founding director of MIT Morningside Academy of Design (MAD), with the invitation to interpret the theme of circularity, the project became the premise for a convergence of ideas, tools, and know-how from multiple teams at MIT and the wider MIT community. 

    The Digital Structures research group, directed by Professor Caitlin Mueller, applied expertise in designing efficient structures of tension and compression. The Circular Engineering for Architecture research group, led by MIT alumna Catherine De Wolf at ETH Zurich, explored how digital technologies and traditional woodworking techniques could make optimal use of reclaimed timber. Early-stage startups — including companies launched by the venture accelerator MITdesignX — contributed innovative materials harnessing natural byproducts from vegetal, animal, mineral, and other sources. 

    The result is VAMO (Vegetal, Animal, Mineral, Other), an ultra-lightweight, biodegradable, and transportable canopy designed to circle around a brick column in the Corderie of the Venice Arsenale — a historic space originally used to manufacture ropes for the city’s naval fleet. 

    “This year’s Biennale marks a new radicalism in approaches to architecture,” says Ochsendorf. “It’s no longer sufficient to propose an exciting idea or present a stylish installation. The conversation on material reuse must have relevance beyond the exhibition space, and we’re seeing a hunger among students and emerging practices to have a tangible impact. VAMO isn’t just a temporary shelter for new thinking. It’s a material and structural prototype that will evolve into multiple different forms after the Biennale.”

    Tension and compression

    The choice to build the support structure from reclaimed timber and hemp rope called for a highly efficient design to maximize the inherent potential of comparatively humble materials. Working purely in tension (the spliced cable net) or compression (the oblique timber rings), the structure appears to float — yet is capable of supporting substantial loads across large distances. The canopy weighs less than 200 kilograms and covers over 6 meters in diameter, highlighting the incredible lightness that equilibrium forms can achieve. VAMO simultaneously showcases a series of sustainable claddings and finishes made from surprising upcycled materials — from coconut husks, spent coffee grounds, and pineapple peel to wool, glass, and scraps of leather. 

    The Digital Structures research group led the design of structural geometries conditioned by materiality and gravity. “We knew we wanted to make a very large canopy,” says Mueller. “We wanted it to have anticlastic curvature suggestive of naturalistic forms. We wanted it to tilt up to one side to welcome people walking from the central corridor into the space. However, these effects are almost impossible to achieve with today’s computational tools that are mostly focused on drawing rigid materials.”

    In response, the team applied two custom digital tools, Ariadne and Theseus, developed in-house to enable a process of inverse form-finding: a way of discovering forms that achieve the experiential qualities of an architectural project based on the mechanical properties of the materials. These tools allowed the team to model three-dimensional design concepts and automatically adjust geometries to ensure that all elements were held in pure tension or compression.

    “Using digital tools enhances our creativity by allowing us to choose between multiple different options and short-circuit a process that would have otherwise taken months,” says Mueller. “However, our process is also generative of conceptual thinking that extends beyond the tool — we’re constantly thinking about the natural and historic precedents that demonstrate the potential of these equilibrium structures.”

    Digital efficiency and human creativity 

    Lightweight enough to be carried as standard luggage, the hemp rope structure was spliced by hand and transported from Massachusetts to Venice. Meanwhile, the heavier timber structure was constructed in Zurich, where it could be transported by train — thereby significantly reducing the project’s overall carbon footprint. 

    The wooden rings were fabricated using salvaged beams and boards from two temporary buildings in Switzerland — the Huber and Music Pavilions — following a pedagogical approach that De Wolf has developed for the Digital Creativity for Circular Construction course at ETH Zurich. Each year, her students are tasked with disassembling a building due for demolition and using the materials to design a new structure. In the case of VAMO, the goal was to upcycle the wood while avoiding the use of chemicals, high-energy methods, or non-biodegradable components (such as metal screws or plastics). 

    “Our process embraces all three types of intelligence celebrated by the exhibition,” says De Wolf. “The natural intelligence of the materials selected for the structure and cladding; the artificial intelligence of digital tools empowering us to upcycle, design, and fabricate with these natural materials; and the crucial collective intelligence that unlocks possibilities of newly developed reused materials, made possible by the contributions of many hands and minds.”

    For De Wolf, true creativity in digital design and construction requires a context-sensitive approach to identifying when and how such tools are best applied in relation to hands-on craftsmanship. 

    Through a process of collective evaluation, it was decided that the 20-foot lower ring would be assembled with eight scarf joints using wedges and wooden pegs, thereby removing the need for metal screws. The scarf joints were crafted through five-axis CNC milling; the smaller, dual-jointed upper ring was shaped and assembled by hand by Nicolas Petit-Barreau, founder of the Swiss woodwork company Anku, who applied his expertise in designing and building yurts, domes, and furniture to the VAMO project. 

    “While digital tools suited the repetitive joints of the lower ring, the upper ring’s two unique joints were more efficiently crafted by hand,” says Petit-Barreau. “When it comes to designing for circularity, we can learn a lot from time-honored building traditions. These methods were refined long before we had access to energy-intensive technologies — they also allow for the level of subtlety and responsiveness necessary when adapting to the irregularities of reused wood.”

    A material palette for circularity

    The structural system of a building is often the most energy-intensive; an impact dramatically mitigated by the collaborative design and fabrication process developed by MIT Digital Structures and ETH Circular Engineering for Architecture. The structure also serves to showcase panels made of biodegradable and low-energy materials — many of which were advanced through ventures supported by MITdesignX, a program dedicated to design innovation and entrepreneurship at MAD. 

    “In recent years, several MITdesignX teams have proposed ideas for new sustainable materials that might at first seem far-fetched,” says Gilad Rosenzweig, executive director of MITdesignX. “For instance, using spent coffee grounds to create a leather-like material (Cortado), or creating compostable acoustic panels from coconut husks and reclaimed wool (Kokus). This reflects a major cultural shift in the architecture profession toward rethinking the way we build, but it’s not enough just to have an inventive idea. To achieve impact — to convert invention into innovation — teams have to prove that their concept is cost-effective, viable as a business, and scalable.”

    Aligned with the ethos of MAD, MITdesignX assesses profit and productivity in terms of environmental and social sustainability. In addition to presenting the work of R&D teams involved in MITdesignX, VAMO also exhibits materials produced by collaborating teams at University of Pennsylvania’s Stuart Weitzman School of Design, Politecnico di Milano, and other partners, such as Manteco. 

    The result is a composite structure that encapsulates multiple life spans within a diverse material palette of waste materials from vegetal, animal, and mineral forms. Panels of Ananasse, a material made from pineapple peels developed by Vérabuccia, preserve the fruit’s natural texture as a surface pattern, while rehub repurposes fragments of multicolored Murano glass into a flexible terrazzo-like material; COBI creates breathable shingles from coarse wool and beeswax, and DumoLab produces fuel-free 3D-printable wood panels. 

    A purpose beyond permanence 

    Adriana Giorgis, a designer and teaching fellow in architecture at MIT, played a crucial role in bringing the parts of the project together. Her research explores the diverse network of factors that influence whether a building stands the test of time, and her insights helped to shape the collective understanding of long-term design thinking.

    “As a point of connection between all the teams, helping to guide the design as well as serving as a project manager, I had the chance to see how my research applied at each level of the project,” Giorgis reflects. “Braiding these different strands of thinking and ultimately helping to install the canopy on site brought forth a stronger idea about what it really means for a structure to have longevity. VAMO isn’t limited to its current form — it’s a way of carrying forward a powerful idea into contemporary and future practice.”

    What’s next for VAMO? Neither the attempt at architectural permanence associated with built projects, nor the relegation to waste common to temporary installations. After the Biennale, VAMO will be disassembled, possibly reused for further exhibitions, and finally relocated to a natural reserve in Switzerland, where the parts will be researched as they biodegrade. In this way, the lifespan of the project is extended beyond its initial purpose for human habitation and architectural experimentation, revealing the gradual material transformations constantly taking place in our built environment.

    To quote Carlo Ratti’s Circular Economy Manifesto, the “lasting legacy” of VAMO is to “harness nature’s intelligence, where nothing is wasted.” Through a regenerative symbiosis of natural, artificial, and collective intelligence, could architectural thinking and practice expand to planetary proportions?

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