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Navarro Slams India’s Buying of Russian Oil

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White House trade adviser Peter Navarro wrote a strongly worded column in the Financial Times calling the dramatic increase in India’s purchases of Russian oil since the invasion of Ukraine “opportunistic and deeply corrosive” of a global effort to isolate the Kremlin and curb Vladimir Putin’s war machine. Lillianna Byington of Bloomberg Government has more.



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Funding & Business

Honeywell-led AI and AM project receives funding

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A consortium led by Honeywell has received UK Government funding for a project that aims to revolutionise how critical aerospace technologies are manufactured in the UK through the use of artificial intelligence (AI) and additive manufacturing (AM).

The £14.1m research and development project, funded through the ATI Programme, will explore how AI and other technologies can drive simulations and modelling to lead to accelerated innovation cycles. It will also explore opportunities to increase efficiency, reduce Scope 3 emissions and help address supply chain challenges through the production of additively manufactured, qualified aerospace parts.

Project Strata will focus on the development of five components within environmental control systems (ECS) and cabin pressure control systems (CPCS) aboard aircraft.

Strata also aims to advance thermal management technology for next-generation aircraft, to reduce the amount of energy required for the heating and cooling of aircraft, as well as fuel consumption.

“Additive manufacturing has the ability to deliver both high-performance optimised components and the consolidation of complex assemblies into a single part, which can lower manufacturing costs, reduce waste and deliver new efficiencies in manufacturing,” said Jacqueline Castle, CTO at the Aerospace Technology Institute (ATI). “Strata will bring this capability to critical aircraft systems, utilising advanced simulation technologies to transform the design process. This project aligns well with the ATI’s strategy and roadmap for additive manufacturing for advanced systems, which sees additive manufacturing contributing significantly to the sector’s future sustainability.”

The consortium partners include 3T Additive Manufacturing; BeyondMath; Qdot Technology; and Oxford Thermofluids Institute, part of the University of Oxford.

The ATI Programme funds research into advanced civil aerospace technologies, and is delivered in partnership between the ATI, the Department for Business & Trade, and Innovate UK.



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Munis Rise as Bond Rally on Job Data Locking in Rate-Cut Bets

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Municipal bonds rallied after weaker-than-expected job growth raised expectations that the Federal Reserve will lower interest rates this year to help stoke the economy.



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Lululemon Faces Weak Demand, De Minimis End

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Lululemon’s rough year continued as the once fast-growing apparel chain slashed its outlook on weakening demand and the Trump administration’s tougher trade policies. The retailer’s shares tumbled 20% at the open of Friday trading, deepening a decline this year that had already erased $22 billion in market value. The Vancouver-based company warned Thursday that it will take a $240 million hit from President Donald Trump’s decision to end the de minimis exemption. The policy had helped Lululemon ship many of its US e-commerce orders under $800 duty-free from Canada.

The retailer now projects sales in the range of $2.47 billion to $2.5 billion for the third quarter, lower than Wall Street had anticipated. For the full year, Lululemon lowered both its revenue and earnings per share outlook.

Poonam Goyal, Senior Analyst for US Retailing, covers the stock for Bloomberg Intelligence. She speaks with Bloomberg’s Paul Sweeney and Scarlet Fu. (Source: Bloomberg)



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