profit

SEOUL, May 7 (UPI) — South Korean game publisher Netmarble said Thursday that sales and profitability improved during the first three months of this year, driven by the solid performance of new titles.

The Seoul-based company noted that its first-quarter sales amounted to $450 million, up 4.5% from a year earlier, for an operating profit of $37 million, up 6.8%. Its net profit soared 163% to $146 million thanks to gains related to asset disposals.

Netmarble said that such new games as “Stone Age: Idle Adventure” and “The Seven Deadly Sins: Origin” boosted its results for the January-March period.

It said that international markets generated 79% of total revenue. North America accounted for the biggest share at 41%, followed by South Korea with 21%, Europe with 13%, and Southeast Asia with 12%.

The company expected stronger revenue momentum from the second quarter as newly published titles are set to contribute to earnings throughout the entire quarter.

“The release of our major games was concentrated toward the end of the first quarter, limiting their contribution to sales. But our business fundamentals remained stable as shown by the growth of both revenue and operating profit,” Netmarble CEO Kim Byung-gyu said in a statement.

“Based on our diversified portfolio, we expect to see both top-line growth and improved profitability starting in the second quarter as revenue from new titles begins to be reflected in earnest,” he added.

The share price of Netmarble declined 2.79% on the Seoul bourse Thursday.

SEOUL, May 6 (UPI) — World-leading non-ferrous metal maker Korea Zinc said Wednesday it posted record results during the first three months of this year despite a challenging business environment.

The Seoul-based company said its first-quarter sales were $4.2 billion, up 58.4% from a year before, while operating profit nearly tripled to $515 million year-on-year. Both were all-time quarterly highs.

Korea Zinc’s operating margin almost doubled to 12.3% during the January-March period. The company said said its diversified product portfolios and stable production capabilities led to the strong profit.

Robust demand for precious metals and critical minerals, including gold, silver and antimony, supported the company’s stellar performance, Korea Zinc said.

Separately, the company’s board approve Wednesday a first-quarter dividend of $3.46 per share, totaling $71 million, with payouts scheduled for early next month.

“Despite the sudden outbreak of war, rising raw material prices, and supply chain disruptions, we achieved record quarterly results thanks to our diverse product portfolio, stable production capacity, and growth in new business sectors,” Korea Zinc said in a statement.

“Down the road, we will keep putting forth efforts to maintain stable growth and solid profitability despite an uncertain global environment,” it added.

The company also said that it would focus corporate capabilities on the successful execution of Project Crucible, a $7.4 billion initiative to build an integrated smelter in Tennessee in partnership with the U.S. government.

The program aims to roll out 13 types of nonferrous metals, including 11 critical minerals, as well as semiconductor-grade sulfuric acid, beginning in 2029. Last month, Washington designated it under the FAST-41 permitting program for fast-track procedures.

The share price of Korea Zinc jumped 7.24% on the Seoul bourse Wednesday.

Published on
06/05/2026 – 15:39 GMT+2

The surge in jet fuel prices has become a primary concern for the European travel industry, with Lufthansa finding itself at the centre of this crisis.

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According to Lufthansa’s latest earnings report, the airline expects an additional €1.7 billion ($2bn) fuel cost burden in 2026 as soaring jet fuel prices continue to weigh on the industry.

The need to avoid certain airspaces has led to longer flight times, which naturally increases consumption. These adjusted routes also require more staff hours and higher maintenance cycles, adding layers of complexity to an already strained global supply chain.

As reported by Euronews, global airlines have already cancelled approximately 13,000 flights this May, while Lufthansa alone has axed 20,000 short-haul flights through to October in a bid to cut fuel consumption.

This reduction in capacity is a direct response to the unsustainable cost of operating older, less fuel-efficient aircraft during price peaks.

While Lufthansa has managed to stay profitable, the jet fuel price spikes have forced the firm to advise passengers to book their holidays as early as possible to avoid further surcharges.

The company is currently investing heavily in its “fleet modernisation” programme to mitigate these risks in the long term, though the immediate impact of fuel volatility continues to weigh on the balance sheet.

Lufthansa remains committed to its financial targets, but the volatility of the global oil market remains the largest variable in its 2026 outlook.

“We are satisfied with the first quarter […] at the same time, the current situation compels us to rigorously examine every lever available to reduce costs, improve efficiency and mitigate risks in order to maintain our ability to act decisively. Our annual profit will likely be lower than originally anticipated,” CFO Till Streichert stated.

The Lufthansa Group has announced a landmark financial performance, revealing that it generated the highest revenue in its history in 2025. Revenue rose by 5% compared with the previous year to €39.6 billion.

According to the latest figures, the airline group also saw its operating profit grow by 20% compared with 2024, highlighting a robust recovery in passenger demand.

In the first quarter of 2026, year-on-year revenue climbed 8% despite challenges linked to the conflict involving Iran, including €1.7 billion in additional costs caused by volatile jet fuel prices and the suspension of dozens of routes.

The firm kept its capacity broadly stable with slight growth in long-haul traffic compensating for capacity reductions in short and medium-haul segments.

Lufthansa Technik and Lufthansa Cargo also significantly contributed to earnings with demand for maintenance, repair and overhaul services increasing, as well as through the marketing of ITA Airways’ cargo space.

Global demand for air travel remains high and continues to prove resilient even in times of crisis, as Lufthansa Group again expects a strong summer travel season.

“In the first quarter, we significantly improved on the previous year’s financial results […] but the ongoing crisis in the Middle East, combined with rising fuel costs and operational constraints, poses enormous challenges for the world as a whole, for global air travel and for our company as well,” CEO Carsten Spohr stated.

“However, we are resilient in our ability to absorb these impacts. This applies both to our above-average hedging against fuel price fluctuations and to our multi-hub, multi-airline strategy, which provides us with greater flexibility in our route network and fleet development,” Spohr added.

Each of us has a shortlist of movies we find ourselves rewatching, movies we will finish even if they’re half-over when we tune in. Even if it’s being streamed with commercials. Even if it’s playing on a 19-inch black-and-white television with no sound in a crowded dive bar.

For the past 20 years, “The Devil Wears Prada” has been one of those films for me and other Americans who entered the workforce just in time to say goodbye to pensions and hello to increases in student loan debt. Generation X had the highest homeownership rate relative to their age, so when the housing bubble popped in 2008, it hit Gen X the hardest. And yet this same group of workers is also shouldering the care of aging parents and adult children. According to Pew Research, more than half of 40-year-olds (“elder millennials”) and more than a third of 50-year-olds fall into this category, doing so with shrinking financial margins because wages have lagged behind the cost of living our entire adult lives.

While the current No. 1 movie at the box office — the biopic chronicling Michael Jackson’s rise from Gary, Ind., in 1966 to headlining stadiums in 1988 — may evoke a sense of nostalgia for Gen X, the sequel to “Devil” (which opens in theaters Friday) feels more like a peer review.

Twenty years ago, when we last saw our protagonist, Andrea Sachs, she had decided to leave her big corporate job because success in that environment required her to be someone she didn’t like or respect. As young professionals, seeing a fictional character like Sachs leave a toxic work environment felt like a satisfying conclusion in 2006. However, over the decades, you learn work/life balance is an oxymoron and characteristics such as integrity and loyalty are often valued but rarely useful on a spreadsheet.

Don’t get me wrong — I love the campy humor, the fashion and soundtrack of the first “Devil.” However, the thing that elevated the Oscar-nominated film to its cultlike status is the same thing that lifted similarly edgy coming-of-age stories such as “The Graduate” in 1967, “American Graffiti” in 1973 and “Fast Times at Ridgemont High” in 1982: truth. Despite the fantasy elements of beautiful and talented people dressed in clothing designed by the upper echelon of the fashion industry, “Devil” has a sequel because what Sachs was experiencing felt real. Many of us have been there — behind on rent, desperately trying to build a career, navigating friends and romance.

The line the character Nigel told an overwhelmed Sachs in the original — “let me know when your whole life goes up in smoke … means it’s time for a promotion” — was more than a humorous quip. It was also foreshadowing for the young professionals in the audience who had not yet learned that being good at your job, or even great, wasn’t enough to keep it.

We know that all too well now. Just this week, the Wall Street Journal reported corporate layoffs in the first quarter of 2026 surpassed 200,000. Of course, it wasn’t always like this.

According to the Economic Policy Institute, in the immediate three decades after World War II, workers saw their hourly compensation in line with the country’s productivity growth. That’s because during the height of the Cold War — when employers offered employees pensions and union participation was at its peak — corporate America was incentivized to offer labor a larger share of the profits as a way to counteract communism. However, when the Soviet Union fell in the early 1990s, so did the motivation from domestic CEOs to share profits with workers. The split between capital and labor began measurably in 1970, and the gap has only increased since.

Twenty years ago — before the 2008 recession, the pandemic and the nearly $1-trillion price tag stemming from the Afghanistan war — it was believable a young professional like Sachs would walk away from a good corporate job for the sake of her integrity. However, given how fraught the current work environment feels, with the shadow of artificial intelligence looming over entry-level positions across multiple disciplines, would we find Sachs’ actions believable today? Or laudable? Or would we demand that she compromise her principles because it’s pragmatic to let go of the idealism of youth? Time has forced many of us to begrudgingly accept that possibility. Our younger selves might not approve, but our older selves know that’s how most people survive long enough in their careers to have a sequel.

YouTube: @LZGrandersonShow

RALEIGH, N.C. — A U.S. special forces soldier who took part in the capture of Venezuelan President Nicolás Maduro will be released on bond on charges accusing him of using classified information about the operation to win more than $400,000 in an online prediction market, a federal magistrate said Friday.

The magistrate in North Carolina said he would allow Gannon Ken Van Dyke to be released and told him to report to a New York federal courthouse by Tuesday to continue his case there.

Bearded with arm tattoos, Van Dyke said little during the nearly hourlong hearing, during which he was appointed a federal public defender who declined to comment afterward. The $250,000 unsecured bond did not require Van Dyke to put up any money.

Federal prosecutors say Van Dyke used his access to classified information about the operation to capture Maduro in January to win money on the prediction market site Polymarket.

The sites allow people to trade on almost anything — from the Super Bowl to U.S. elections and even the winners of the TV reality shows.

Van Dyke, who is stationed at Fort Bragg near Fayetteville, N.C., was charged Thursday with the unlawful use of confidential government information for personal gain, theft of nonpublic government information, commodities fraud, wire fraud and making an unlawful monetary transaction.

He could face up to 10 years on four of the criminal counts, and up to 20 years on a fifth, the government said Friday. A publicly listed phone number listed for Van Dyke isn’t in service.

Van Dyke, 38, was involved for about a month in the planning and execution of capturing Maduro, according to the New York federal prosecutor’s office. He signed nondisclosure agreements promising to not divulge “any classified or sensitive information” related to the operations, but prosecutors say he used what he knew to make a series of bets related to Maduro being out of power by Jan. 31.

“This involved a U.S. soldier who allegedly took advantage of his position to profit off of a righteous military operation,” FBI Director Kash Patel said in a social media post.

Polymarket, one of the largest prediction markets, said it found someone trading on classified government information, alerted the Justice Department and “cooperated with their investigation.”

Massive profits from well-timed bets aroused public attention days after the raid in Venezuela and brought bipartisan calls for stricter regulation of the markets.

The sudden rise of these markets has led to growing scrutiny by Congress and state governments. Some lawmakers alarmed by highly specific, well-timed trades on the U.S. and Israel’s war against Iran and wagers on President Trump’s next moves have pushed for guardrails against insider trading.

The Trump administration has been supportive of the industry’s expansion. The president’s eldest son is an advisor for both Polymarket and its main competitor, Kalshi,, and is a Polymarket investor. Trump’s social media platform, Truth Social, is launching its own prediction market called Truth Predict.

The Commodity Futures Trading Commission, the federal agency that regulates prediction markets, announced Thursday that it had filed a parallel complaint against Van Dyke.

That complaint alleges that Van Dyke moved $35,000 from his personal bank account into a cryptocurrency exchange account on Dec. 26 — a little over a week before U.S. forces flew into Caracas and seized Maduro.

Van Dyke made a series of bets on when Maduro might be removed from power, according to the complaint. He placed those bets between Dec. 30 and Jan. 2, with the vast majority occurring the night of Jan. 2 — just hours before the first missiles struck Caracas.

The bets resulted in “more than $404,000 of profits,” the complaint says.

“The defendant was entrusted with confidential information about U.S. operations and yet took action that endangered U.S. national security and put the lives of American service members in harm’s way,” said Michael Selig, the commission’s chairman.

Robertson writes for the Associated Press. AP reporters Allen G. Breed in Raleigh and John Seewer in Toledo, Ohio, contributed to this report.

The Clippers’ season has come to an end but better than anyone expected. No consolation but a great job by head coach Tyronn Lue for guiding the Clippers from a disastrous 6-21 start and finishing with more than 40 wins.

Coach Lue led the team, overcoming major obstacles throughout the season with a player investigation, injuries, internal strife and major roster changes at the trade deadline. As usual for Clipper fans, wait till next year.

Wayne Muramatsu
Cerritos

The Clippers are the NBA’s version of Stealers Wheel’s “Stuck in the Middle With You.” Yes, they have had 15 straight seasons of playing .500 or better, and owner Steve Ballmer has brought them respectability, but for their entire 56-year existence — which has contained many clowns and jokers — they still have never [attained] their goal of winning (or even reaching) the NBA Finals.

Ken Feldman
Tarzana