Airbus wins contract to provide infrared protection on German Air Force aircraft
The deal with Germany's procurement agency BAAINBw will equip the military planes with Directed Infrared Counter Measures technology to defend against heat-seeking missiles during operations, Airbus said.
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Atai Life Sciences schizophrenia drug fails to meet main goal in trial
July 25 (Reuters) - Atai Life Sciences ( opens new tab and its partner Recognify Life Sciences said on Friday their experimental drug did not meet the main goal in a mid-stage trial for patients with cognitive impairment linked to schizophrenia. U.S.-listed shares of atai fell about 14% in extended trading. Recognify said patients taking the drug, inidascamine, showed some improvement in cognitive tests compared with a placebo, but the results were not statistically significant. The trial enrolled 242 patients with cognitive impairment associated with schizophrenia, which affects memory, attention and decision-making in people with the mental illness. Despite the drug missing the main goal, Recognify said patients on inidascamine showed consistent signs of improvement in areas such as processing speed and verbal learning, with positive trends on a test assessing real-world cognitive abilities.
Reuters
4 hours ago
- Reuters
TSX adds to weekly gains as technology shares climb
July 25 (Reuters) - Canada's main stock index rose to a record high on Friday, with technology shares leading gains as investors turned attention to key events next week, including a Bank of Canada policy decision. The S&P/TSX Composite Index (.GSPTSE), opens new tab ended up 122.09 points, or 0.5%, at 27,494.35, eclipsing Wednesday's record closing high. For the week, the index was up 0.7%. The move has been supported by trade optimism "as negotiations have progressed on the U.S. side and also corporate profits that are coming in pretty strong," said Angelo Kourkafas, senior global investment strategist at Edward Jones. Policy decisions are due from both the BoC and the Federal Reserve on Wednesday, while an August 1 deadline looms for Canada to reach a trade deal with the United States. "That summer calm may be tested," Kourkafas said. "We are seeing some signs of complacency, which raise the risk of near-term volatility, but fundamentals remain supportive." The Canadian central bank will hold its overnight interest rate steady at 2.75% for the third consecutive meeting, thanks to a recent rise in inflation and a fall in unemployment, according to a Reuters poll of economists that still found many expect at least two more cuts this year. The technology sector (.SPTTTK), opens new tab rose 1.8%, boosted by a 4.7% gain for the shares of Lightspeed Commerce ( opens new tab, which is due to release earnings next Thursday. Shares of e-commerce company Shopify ( opens new tab added 2.5%. Industrials were up 0.7% as railroad shares notched gains and heavily weighted financials ended 0.5% higher. Energy was a drag, dipping 0.5%, as the price of oil settled 1.3% lower at $65.16 a barrel.
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7 hours ago
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Spear AI raises first round of funding to apply AI to submarine data
SAN FRANCISCO, July 25 (Reuters) - A startup founded by U.S. Navy veterans aiming to help the U.S. military use artificial intelligence to decipher data gathered by submarines has raised its first round of outside capital. Washington-based Spear AI specializes in working with what is known as passive acoustic data, which is gathered by listening devices underwater. Its long-term aim is to use AI to help submarine operators understand whether an object heard could be a rain squall, a whale, or a vessel that could be a threat, and to detect where it is and how fast it is moving. The challenge is that most existing AI tools are trained on data such as words or images that have been painstakingly labeled and organized over years or decades by companies such as Scale AI, which recently signed a $14.8-billion deal with Meta Platforms. Data from acoustic sensors is different. Spear AI co-founders Michael Hunter, a former U.S. Navy SEAL analyst, and John McGunnigle, a former nuclear submarine commander for the U.S. Navy, are building a hardware and software platform that aims to prepare that data for AI algorithms. The company sells sensors that can be attached to buoys or vessels and a software tool to help label and sort the data gathered by the sensors to make it ready to be put into AI systems. The U.S. Navy this month awarded Spear AI a $6-million contract for its data-labeling tool. Spear AI, founded in 2021, has been self-funded and has about 40 employees. Hunter, the CEO, said it raised $2.3 million from AI-focused venture firm Cortical Ventures and private equity firm Scare the Bear. The funding will be used to double the company's headcount to support its government contracts and commercial business prospects, such as monitoring underwater pipelines and cables. Hunter said Spear AI also aims to sell consulting services, a model similar to defense tech firm Palantir (PLTR.O), opens new tab. "We wanted to build the product and actually get it out the door before the contract came in to get it," Hunter told Reuters. "The only way you can do that is with private capital."
