Olympics facing a fishy $1.28 million problem

Published

5 years ago

July 19, 2021

Officials in Tokyo are nervously eyeing the waters at a major Olympic venue

A plague of oysters has cost the Tokyo Olympics $1.28m in emergency repairs.

The Sea Forest Waterway in Tokyo Bay which will host the canoeing and rowing events had been ready ahead of schedule – but nobody could anticipate what would happen with a growing oyster plague.

Massive amounts of Oysters had attached themselves to floats intended to stop waves bouncing back across the water and onto the athletes.

The oysters were discovered when puzzled officials began investigating why the floats had started sinking.

Solving the issue has been a time consuming and expensive

The oysters have caused damage costing $1.28m to repair.

Damaged equipment that spans 5.6km, either had to be dragged ashore and repaired or cleaned in place by teams of divers.

In total, officials have removed 14 tonnes of oysters

And these weren’t just any shellfish. Officials found they were magaki oysters, which are a hugely popular delicacy during the winter in Japan.

However, they haven’t been able to take advantage of their bumper harvest.

“We did not consider consuming them,” a member of the team told the Asahi Shimbun newspaper. “That would entail safety checks.”

Although prices vary around the world for shellfish, these oysters could easily be worth tens of thousands of dollars.

Big Tech earnings spark investor unease over AI spending

Investors monitor Big Tech’s AI investments, with Meta thriving while Microsoft and Tesla face uncertainty over growth and returns.

Published

21 hours ago

January 30, 2026

Harvey Vargas

Investors monitor Big Tech’s AI investments, with Meta thriving while Microsoft and Tesla face uncertainty over growth and returns.

Investors are reacting sharply to Big Tech earnings this week, sending a clear signal that massive spending must translate into real growth. Markets are becoming less forgiving as companies pour billions into artificial intelligence, data centres and future tech while returns remain uncertain.

Meta has delivered a standout performance, posting a 24 percent jump in revenue for the December quarter, fuelled by AI-powered advertising. The company is doubling down on its strategy, with aggressive investment in AI and infrastructure expected to drive a further 33 percent growth this quarter.

Microsoft and Tesla tell a more cautious story. Microsoft reported only modest growth in its Azure cloud business, raising questions about its exposure to OpenAI, while Tesla plans to double spending on AI and autonomous driving. Analysts warn of a widening gap between bold AI ambitions and what investors expect in returns.

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News

Federal Reserve holds interest rates amid economic uncertainty

Federal Reserve holds interest rates steady, balancing inflation and jobs, as some governors advocate for a cut. #FederalReserve #InterestRates #Economy

Published

2 days ago

January 29, 2026

Harvey Vargas

Federal Reserve holds interest rates steady, balancing inflation and jobs, as some governors advocate for a cut.

The Federal Reserve has opted to keep interest rates unchanged, marking the first pause since July. Officials are showing little urgency to resume cuts, even after previous rate reductions.

Two Fed governors opposed the decision, calling for a quarter-point cut, highlighting ongoing debates within the rate-setting committee, which includes both appointed governors and regional bank presidents.

Concerns over the job market and persistent inflation continue to weigh heavily on the Fed’s policy decisions, leaving economists and investors closely watching the next moves.

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#FederalReserve #InterestRates #Economy

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Trump warns Iran as U.S. naval forces approach amid rising tensions

Trump urges Iran to resume nuclear talks or face stronger U.S. military response amid economic struggles and tensions rise.

Published

2 days ago

January 29, 2026

Harvey Vargas

Trump urges Iran to resume nuclear talks or face stronger U.S. military response amid economic struggles and rising tensions.

U.S. President Donald Trump has urged Iran to return to nuclear negotiations, warning that failure to do so could result in a far more severe military response. Posting on Truth Social, Trump signalled a hardening stance as tensions between Washington and Tehran continue to rise.

Trump confirmed that a U.S. naval strike group led by the USS Abraham Lincoln is moving towards Iran, as protests grow inside the country over alleged government repression.

The show of force comes amid heightened regional instability and mounting pressure on the Iranian leadership.

#Trump #Iran #USForeignPolicy