We’re excited to announce a landmark technical solution enabling financial institutions worldwide to manage digital asset workflows directly from their existing systems using Swift (@swiftcommunity) messaging and Chainlink in collaboration with @UBS.https://t.co/lv1i6bm2ZvWith Swift messages and the Chainlink Runtime Environment (CRE), banks and institutions can seamlessly access blockchains through the same Swift infrastructure they have relied upon for decades.The first use case involved UBS Tokenize, the ...

Chainlink said it developed a technical process allowing banks to interact with tokenized investment funds through Swift, the interbank messaging system that underpins much of traditional finance. In a pilot with UBS, Chainlink’s Runtime Environment (CRE) processed subscriptions and redemptions for a tokenized fund using ISO 20022 messages, the international standard for financial messaging used by Swift. The blockchain workflows were triggered directly from UBS’s existing systems after CRE received the ...

Core Viewpoint - Proterial has developed a new type of magnet for electric vehicle (EV) motors that does not use heavy rare earth materials, addressing supply chain concerns due to China's export restrictions on rare earth elements [1][2]. Group 1 - Proterial has created two types of new magnets, one of which has begun providing trial samples from mass production facilities, while the other is a next-generation magnet with improved heat resistance, expected to start shipping samples around April 2026 [1][2]. - The new magnets are designed to replace traditional neodymium magnets used in precision instruments and electric vehicles, offering stronger magnetic power [1][2]. - The development of these magnets is crucial as the automotive industry faces supply disruptions, exemplified by Suzuki's suspension of production for its Swift model due to rare earth shortages [2].

Industry Development - Swift 宣布成立安卓工作组，旨在推进开发者使用 Swift 开发安卓应用 [1] - The goal is to establish and maintain Android as an officially supported platform for Swift [1]

Core Insights - Apple's internal development team has transitioned from Java to Swift due to performance and efficiency demands, resulting in a 50% reduction in hardware utilization, 90% decrease in memory usage, and a 40% increase in throughput [1][3] Group 1: Performance and Efficiency - The service operates on a Linux system with a layered encryption mechanism, increasing the computational resources required for each request [2] - Java's garbage collection (GC) issues prompted the search for an alternative language, as GC pauses and performance overhead were significant concerns [2] - Swift's automatic reference counting (ARC) offers a different memory management approach, leading to a 90% reduction in memory usage and halving hardware utilization [3] Group 2: Code Quality and Development - The migration to Swift resulted in an approximately 85% reduction in code lines, attributed to Swift's features that promote clearer and more concise code [3] - Swift emphasizes protocols over inheritance and utilizes async/await for concurrency, enhancing code clarity and safety [3] - The choice of Swift over other languages like Go or Rust was influenced by internal factors, although similar performance improvements could be expected from those languages as well [3]

Technology Innovation - Xcode integrates large language models like ChatGPT to assist with coding [1] - The integration allows for general Swift questions and project-specific code modifications [1] Coding Assistance - Xcode's integration enables answering specific questions about a project [1] - The model can make changes to code on behalf of the user [1]

Investment Rating - The industry investment rating is "In-Line" [9]. Core Insights - China's rare earth export restrictions pose significant risks to the global auto industry, potentially impacting FY25 guidance and catalyzing faster tariff negotiations between the US and China, as well as the EU and China [1][12][21]. - The auto sector heavily relies on rare earth elements (REEs) and magnets, with approximately 38% of NdFeB magnets used in automotive applications, particularly in electric vehicles (EVs) [5][12]. - The current shortage of REEs is beginning to disrupt the automotive supply chain, with several OEMs already experiencing production halts due to insufficient magnet supplies [6][14]. Summary by Sections Rare Earth Export Controls - China has implemented export controls on seven heavier rare earth elements, which are crucial for the production of magnets [3][4]. - Chinese companies dominate the global supply chain, controlling 65% of mined and 88% of refined mid to heavy rare earths, and over 90% of NdFeB permanent magnet supply [4]. Impact on Automotive Sector - The automotive industry is facing a shortage of magnets, which are essential for various components in vehicles, especially EVs [5][6]. - The average usage of REEs in EVs is about 3 kg per vehicle, compared to only 100 grams in internal combustion engine (ICE) vehicles [5]. Supply Chain Disruptions - The restrictions have already led to production shutdowns at several OEM plants, including Ford and Suzuki, with further disruptions expected as inventories deplete [6][14]. - The approval process for REE exports from China has slowed, complicating the supply situation for global manufacturers [4][15]. Future Outlook - The report anticipates a potential hit to FY25 guidance in the upcoming 2Q25 results, with OEMs likely to provide a range of guidance based on different tariff and REE scenarios [18]. - The situation mirrors the semiconductor shortage experienced in 2021, with the potential for significant downward revisions in global light vehicle production forecasts if REE shortages persist [17].

Accessibility & Productivity - Voice Control's Swift Mode enables hands-free Swift code navigation and editing on Mac [1] - The technology allows developers to add fields to the landmark inspector by voice commands [1] - The demonstration shows adding a "continent" field to the landmark inspector without using a keyboard [1]

Investment Rating - The report does not explicitly state an investment rating for the industry or specific companies covered. Core Insights - The impact of China's rare-earth export ban is significant, affecting key Asian automakers like Suzuki and Ford, with production halts reported [1][5] - The sentiment around BYD has improved, with investors noting a bottoming out in sentiment, while concerns remain for Geely and Great Wall Motor [1][12] - The Indian defense sector is poised for growth, with expectations to increase defense spending to 2.5% of GDP by FY30, indicating a potential doubling of defense spending [1][11] - The EU building materials sector is showing signs of improvement, driven by positive factors such as increased defense spending and a potential recovery in residential construction [1][13] Detailed Highlights - **Japan Auto**: Suzuki halted production of its Swift model due to the rare-earth export ban but resumed operations shortly after, indicating that the situation may not be as severe as initially thought [1][5] - **China Auto Feedback**: Pricing competition has moderated, and BYD's sales volume has responded positively without significant price cuts, improving investor sentiment [1][10][12] - **Indian Defense**: The Ministry of Defense's commentary suggests that conditions are aligning for a significant increase in defense spending, attracting investor interest in various defense companies [1][11] - **EU Building Materials**: The sector is experiencing a strong move, with cement shares leading the way, supported by positive results from companies and a firming sentiment for construction recovery [1][13] Sector Key Newsflow - US auto suppliers are urging immediate action to address China's rare earth restrictions [1][13] - Suzuki's production of the Swift is set to return to normal from June 16 [1][13] - Chinese officials have summoned EV executives to discuss self-regulation in the ongoing price war [1][13] - BYD plans to nearly triple its dealer network in South Africa, reflecting its growth strategy [1][13] - China's NEV retail sales increased by 30% year-on-year in May, indicating strong market demand [1][13]

Core Viewpoint - Suzuki has paused the production of its small car "Swift" in Japan due to a shortage of components caused by China's rare earth export restrictions, marking the first production halt among Japanese automakers in this context [1][2]. Group 1: Production Halt Details - The production suspension will last from May 26 to June 6 and affects all models of Swift except for the sport version [1]. - The reason for the production halt is linked to the procurement issues of rare earth components, which are essential for electric vehicle (EV) and hybrid vehicle (HV) motors [1][2]. Group 2: Impact on the Industry - The global supply chain is experiencing significant disruptions, with both the U.S. and Europe also facing production halts due to shortages of rare earth-related components [1][2]. - Ford has also paused production of its SUV "Explorer" in Chicago due to similar issues, highlighting the widespread impact across the automotive industry [2]. - The European automotive parts industry has reported that only about 25% of the hundreds of export license applications submitted to China since April have been approved, further exacerbating the supply chain challenges [2].