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JPMorgan Chase CEO Jamie Dimon says banks will be there for customers in good times and bad.

Bed Bath & Beyond reported a loss in the third quarter on Tuesday but made no mention of shutting down the business, following a week of rumors swirling around a possible bankruptcy.

Net sales of $1.259 billion slipped 33%, primarily driven by a comparable sales decline of 32% and a 70% drop in customer traffic.Ticker Security Last Change Change % BBBY BED BATH & BEYOND INC. 1.93 +0.31 +19.14%

US AND JAPAN FORM TASK FORCE TO PROMOTE HUMAN RIGHTS IN SUPPLY CHAINS

As part of the new plan, the retailer will close 150 of its locations by the end of fiscal 2022 and has also initiated incremental cost reductions of approximately $80 million to $100 million, including overhead expense and headcount. The company is now on track to deliver roughly $500 million in yearly savings. 

Bed Bath & Beyond .

The stock has lost 90% of its value over the past 12 months and is trading in the $1 range. 

Amid plummeting sales and decreased customer traffic, Bed Bath and Beyond will close 150 stores by the end of fiscal 2022.

Sue Gove, president and CEO of Bed Bath & Beyond, said in the release the retailer implemented a turnaround plan at the beginning of the third quarter, "following a period when our merchandise and strategy had veered away."

SMALL BUSINESS OPTIMISM DIPPED IN DECEMBER: NFIB

"Although we moved quickly and effectively to change the assortment and other merchandising and marketing strategies, inventory was constrained and we did not achieve our goals," she continued. "We will continue to rebalance our assortment toward national brands and refine our owned brands mix to reflect the deep understanding of our customer."

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"We are implementing our plan expeditiously while managing our financial position in a changing landscape," she added.

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Politics

UK will play its ‘full part’ in peacekeeping efforts in Ukraine, says Sir Keir Starmer

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UK will play its 'full part' in peacekeeping efforts in Ukraine, says Sir Keir Starmer

The UK will play its “full part” in peacekeeping in Ukraine, Sir Keir Starmer has said.

The prime minister told Sky News’ political editor Beth Rigby that the conflict with Russia was not just about “sovereignty in Ukraine” but about the impact it also had on the UK, including the cost of living crisis.

Sir Keir was speaking to Sky News while on a surprise visit to Ukraine on Thursday – his first since his party’s landslide election win six months ago.

The purpose of the trip was to discuss the next steps for Ukraine, with the situation now more uncertain following Donald Trump’s election victory in November.

Politics latest: Tories made mistake by leaving EU without growth plan, admits Badenoch

Mr Trump, whose inauguration takes place on 20 January, has said he wants a peace deal between Russia and Ukraine within 100 days.

But some European leaders fear pushing Kyiv into a deal could lead to Ukraine ceding some of its territory to Vladimir Putin.

More on Ukraine

Sir Keir said he did not want “to get ahead of ourselves” but that the UK would play its “full part” in any peace negotiations – including by deploying British troops for peacekeeping.

Asked if he would be prepared to do that, the prime minister replied: “Well, I don’t want to get ahead of ourselves, but I do have indicated that we will play our full part – because this isn’t just about sovereignty in Ukraine.

“It’s about what the impact is back in the United Kingdom and our values, our freedom, our democracy. Because if Russia succeeds in this aggression, it will impact all of us for a very, very long time.”

On arriving in Ukraine to meet President Volodymyr Zelenskyy, a Russian drone was shot over the sky over the presidential palace.

Sir Keir said the drone threat was “a reminder of what Ukraine is facing every day” and that the war was brought about by “Russian aggression”.

Elsewhere in the interview, Sir Keir was asked about his views on Ukraine’s longstanding desire to join NATO – something President Putin strongly opposes.

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At a NATO summit in Washington last summer, the alliance’s members announced that Ukraine was on an “irreversible” path to NATO membership.

“We fully support Ukraine’s right to choose its own security arrangements and decide its own future, free from outside interference. Ukraine’s future is in NATO,” the declaration said.

However, Mr Zelenskyy has somewhat tempered his language around NATO membership, telling Sky News in an exclusive interview in November that a ceasefire deal could be struck if Ukrainian territory he controlled falls “under the NATO umbrella” – allowing him to negotiate the return of the rest later “in a diplomatic way”.

However, Mr Trump has acknowledged Moscow’s opposition to Ukraine joining NATO, saying: “Russia has somebody right on their doorstep, and I can understand their feeling about that.”

Watch the full interview with Beth Rigby and Sir Keir Starmer on the Politics Hub with Sophy Ridge at 7pm.

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UK will play its ‘full part’ in peacekeeping efforts in Ukraine, says Sir Keir Starmer

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UK will play its 'full part' in peacekeeping efforts in Ukraine, says Sir Keir Starmer

The UK will play its “full part” in peacekeeping in Ukraine, Sir Keir Starmer has said.

The prime minister told Sky News’ political editor Beth Rigby that the conflict with Russia was not just about “sovereignty in Ukraine” but about the impact it also had on the UK, including the cost of living crisis.

Sir Keir was speaking to Sky News while on a surprise visit to Ukraine on Thursday – his first since his party’s landslide election win six months ago.

The purpose of the trip was to discuss the next steps for Ukraine, with the situation now more uncertain following Donald Trump’s election victory in November.

Politics latest: Tories made mistake by leaving EU without growth plan, admits Badenoch

Mr Trump, whose inauguration takes place on 20 January, has said he wants a peace deal between Russia and Ukraine within 100 days.

But some European leaders fear pushing Kyiv into a deal could lead to Ukraine ceding some of its territory to Vladimir Putin.

More on Ukraine

Sir Keir said he did not want “to get ahead of ourselves” but that the UK would play its “full part” in any peace negotiations – including by deploying British troops for peacekeeping.

Asked if he would be prepared to do that, the prime minister replied: “Well, I don’t want to get ahead of ourselves, but I do have indicated that we will play our full part – because this isn’t just about sovereignty in Ukraine.

“It’s about what the impact is back in the United Kingdom and our values, our freedom, our democracy. Because if Russia succeeds in this aggression, it will impact all of us for a very, very long time.”

On arriving in Ukraine to meet President Volodymyr Zelenskyy, a Russian drone was shot over the sky over the presidential palace.

Sir Keir said the drone threat was “a reminder of what Ukraine is facing every day” and that the war was brought about by “Russian aggression”.

Elsewhere in the interview, Sir Keir was asked about his views on Ukraine’s longstanding desire to join NATO – something President Putin strongly opposes.

Read more:
With Donald Trump’s inauguration imminent, the Chagos deal appears to be on ice

MP Mike Amesbury admits punching man

At a NATO summit in Washington last summer, the alliance’s members announced that Ukraine was on an “irreversible” path to NATO membership.

“We fully support Ukraine’s right to choose its own security arrangements and decide its own future, free from outside interference. Ukraine’s future is in NATO,” the declaration said.

However, Mr Zelenskyy has somewhat tempered his language around NATO membership, telling Sky News in an exclusive interview in November that a ceasefire deal could be struck if Ukrainian territory he controlled falls “under the NATO umbrella” – allowing him to negotiate the return of the rest later “in a diplomatic way”.

However, Mr Trump has acknowledged Moscow’s opposition to Ukraine joining NATO, saying: “Russia has somebody right on their doorstep, and I can understand their feeling about that.”

Watch the full interview with Beth Rigby and Sir Keir Starmer on the Politics Hub with Sophy Ridge at 7pm.

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Environment

Hyundai Ioniq 5 charges faster on a Tesla Supercharger than a Model 3 does

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Hyundai Ioniq 5 charges faster on a Tesla Supercharger than a Model 3 does

With the release of Hyundai’s 2025 Ioniq 5 with native NACS port, owners are heading to Tesla Superchargers to see how the experience is. And it turns out, the away team is beating the home team at charging speed… at least in some metrics.

This has been a busy time for the transition to NACS, the new EV charging standard for North America that was originally advanced by Tesla and now standardized by SAE.

We’ve seen several brands added to Tesla’s “coming soon” list for Supercharger access, and even beyond that, VW and Honda have both made their own announcements that access is coming soon. But we’ve also had a setback, as Kia announced access would be delayed (though some owners are finding ways to charge anyway).

Hyundai is one of the brands that was added to the “coming soon” list, but it also already released a vehicle with a native NACS port, and several of them are out in the wild. Given that the car includes the right port to charge on a Supercharger, it ought to be able to charge no problem, right?

Well, owners are finding that it can, if they go through the normal process for third party vehicles on Tesla Superchargers (download the app, set up payment information, start charge sessions through app, etc) and have the proper adapters or a 2025 car with native NACS. Hyundai hasn’t made it official yet, but it seems plenty possible.

And today we saw one test that shows Hyundai beating Tesla in one metric, even on Tesla’s home turf.

Out of Spec reviews took a Tesla Model 3 and a 2025 Hyundai Ioniq 5 with native NACS port to a local Tesla Supercharger to do a 1v1 charging test, and find out which vehicle charges better and faster on Tesla’s network.

The Ioniq 5 is based on Kia/Hyundai’s joint E-GMP platform, which has been hailed for its exceptional charging performance.

Despite it having a lower peak charge rate than some other vehicles (it tops out at around 230kW), it has an exceptionally broad charging curve, which means that it can maintain that peak charge rate for longer than other vehicles. Other vehicles start charging fast, but slow down rapidly as the battery fills up.

The upshot of this is that charging sessions will be faster with a broad charge curve, as long as you’re charging up to a high state of charge. Hyundai says the Ioniq 5 can charge from 10-80% in just 18 minutes, making it the current charging speed champion (and the Ioniq 6 charges even faster in terms of “miles per minute,” if you account for vehicle efficiency – more on that later).

That broad charge curve shined in Out of Spec’s side-by-side test, which you can see on its YouTube channel. The two cars have similar battery sizes, so it’s actually a pretty close test.

In the test, the Model 3, charging on home turf, charged for 31 minutes and 53 seconds, and 55.7kWh was delivered from the charger to the vehicle.

But the upstart Ioniq 5 managed to gain 59.6kWh in 30 minutes and 37 seconds, a slightly shorter time and slightly more energy delivered.

Those numbers are close enough to call it a wash, but still an impressive showing on away turf.

The victory is all the greater when considering that the Hyundai isn’t even charging at full power. The E-GMP platform uses an 800 volt architecture, and Tesla’s Superchargers mostly use 400 volts (the new V4 Supercharger will provide 400-1000 volts, but most in the wild are V3).

This means that the Ioniq 5 could only achieve a peak charge rate of 123kW in the test, which is nevertheless improved from the ~100kW that earlier model year E-GMP cars have seen when charging at Superchargers. But that’s far lower than the 250kW peak the Model 3 can reach.

But that aforementioned charge curve is still what ended up winning out. Slow and steady won this race.

There were a few difficulties in this specific test. For some reason, the Ioniq 5 randomly stopped charging, and Out of Spec couldn’t figure out why, and had to spend time restarting the charge session – which thankfully didn’t take that long, due to the much faster handshake speed to start charging sessions on Superchargers as compared to CCS stations.

The interruption also meant that the Hyundai had to ramp up its charging speed again. It may also be difficult to precondition a Hyundai – warming the battery to achieve better charging speeds – because so far, Tesla stations aren’t included in Ioniq 5’s navigation system, so preconditioning won’t happen automatically. An update should come soon to enable that.

However, this wasn’t a total victory for the Ioniq 5. Despite achieving a faster charge rate and getting more total energy, the Model 3 still won out in the most important practical metric – miles per minute.

Energy really doesn’t matter that much, what matters is how far it can get you. And the Model 3 is much more efficient than the Ioniq 5. While the cars have similarly-sized batteries, Tesla says the Model 3 can go 363 miles, whereas Hyundai says the Ioniq 5 can go 303 miles. Account for that ~20% higher efficiency, and the Model 3 won today’s test handily.

Now, if we were to try the same test with an Ioniq 6


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