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"Not Seen Since World War II": New Texas Shipyard To Hire 10,000 Workers And Mass-Produce Drone Boats
"Not Seen Since World War II": New Texas Shipyard To Hire 10,000 Workers And Mass-Produce Drone Boats
Building on our coverage of autonomous maritime warfare this week, Saronic Technologies is preparing to build a massive shipyard on the Texas coast capable of producing autonomous surface vessels at scale, a project expected to create more than 10,000 jobs.
Bloomberg reports that the Austin-based technology company, which specializes in maritime drones, is building a $3.2 billion shipyard at the Port of Brownsville on the Texas coast. The facility will manufacture medium- and large-class...
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Mar 6, 2026 / Tyler Durden
Private Credit Firesale Begins: World's Largest Asset Manager Gates Investors In $26 Billion Fund
Private Credit Firesale Begins: World's Largest Asset Manager Gates Investors In $26 Billion Fund
Three weeks ago, when the largest US Private Credit-focused asset manager Blue Owl, was faced with a flood of redemptions due to its outsized exposure to software loans (which are very rapidly being repriced to zero thanks to the disruption from AI), the firm opted against reinstating quarterly redemptions on a retail fund and decided to return investor capital through assets sales instead (effectively also freezing the money in it and gating investors ) announcing a massive...
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Mar 3, 2026 / Tyler Durden
Oil Spikes To Session High As Iraq Starts Shutting Output At Massive Oil Field
Oil Spikes To Session High As Iraq Starts Shutting Output At Massive Oil Field
Here are the most critical developments unfolding in the US-Iran conflict:
Iraq's crude oil output is being significantly curtailed. An update from Iraq specifies a shutdown of 460,000 bpd at West Qurna 2 and a cut of 700,000 bpd at Rumaila, while warning that more than 3 million bpd could be forced offline in the coming days if tanker access remains limited.
Export crude bottlenecks are developing across Iraq. Storage at southern export terminals is nearing critical capacity...
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Aug 9, 2026 / Dave DeCamp
Trump Says US Is Only ‘Semi-Negotiating’ With Iran
President Trump said on Sunday that the US was “low-keying it” with Iran and only “semi-negotiating” with the country, comments that come after a senior Iranian official laid out multiple conditions for the opening of the Strait of Hormuz. “We are only semi-negotiating with them. We are just watching Iran with its huge inflation and […]
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