News

Titan safety warnings dismissed as “baseless cries” by CEO

Published

3 years ago

June 24, 2023

Despite repeated warnings over the safety of OceanGate’s Titan submersible, the CEO of the company dismissed them, according to e-mail exchanges with a leading deep-sea exploration expert.

Rob McCallum urged OceanGate CEO Stockton Rush to stop using the sub until it had been certified by an independent agency in messages seen by the BBC.

Mr Rush responded that he was “tired of industry players who try to use a safety argument to stop innovation”.

Mr McCallum said OceanGate’s lawyers threatened legal action after the tense exchange.

“I think you are potentially placing yourself and your clients in a dangerous dynamic,” he wrote to the OceanGate boss in March 2018. “In your race to Titanic you are mirroring that famous catch cry: ‘She is unsinkable'”.

Mr Rush, who was among five passengers killed in the Titan’s “catastrophic implosion” on Sunday, expresses frustration with Titan’s safety measures in the messages.

“We have heard the baseless cries of ‘you are going to kill someone’ way too often,” he wrote. “I take this as a serious personal insult.”

Canadian investigation

Canadian government regulators on Friday opened a safety investigation into the undersea implosion of a tourist submersible that killed all five people aboard during a voyage to the century-old wreck of the Titanic.

A debris field from the submersible Titan was found at the bottom of the North Atlantic on Thursday by a robotic diving vehicle deployed from a Canadian search vessel, ending an intense five-day international rescue effort.

Fragments of Titan, which lost contact with its surface support ship about one hour and 45 minutes into a two-hour descent on Sunday, were discovered on the seabed about 1,600 feet (488 meters) from the bow of the Titanic wreck, about 2-1/2 miles (4 km) below the surface, U.S. Coast Guard Rear Admiral John Mauger said.

He told reporters on Thursday the debris was consistent with “a catastrophic implosion of the vehicle,” meaning the 22-foot-long vessel ultimately collapsed and was crushed under the immense hydrostatic pressure at that depth.

International effort

Teams from the U.S., Canada, France and Britain had spent days scanning a vast expanse of open sea for the Titan.

The U.S. Coast Guard’s Mauger said it was too early to say when the Titan met its fate.

The position of debris relatively close to the wreck suggested it happened near the end of Sunday’s descent.

News

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

2 days 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

3 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

News

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

3 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