Technologies

Winter Olympics: No snow, no problems… yet

The Beijing Games use almost 100% artificial snow, as climate change threatens to change winter sports forever.

Organizers of the 2022 Winter Olympics, which officially opened on Friday, have been using dozens of snow generators and hundreds of snowblowers to create 1.2 million cubic meters of powder (or about 42.4 million cubic feet).

The Games in Beijing will mark the first time athletes will compete almost entirely on artificial snow, according to a report from London’s Loughbough University.

That’ll likely become the norm as climate change continues, according to the report’s findings, “starting with lower-altitude slopes and raising pressure and costs on higher-[altitude] resorts.”

But generating fake snow has a high environmental cost, the authors say. “Even if powered by renewables, a huge amount of energy is needed which is both costly and can be a significant drain on water resources.”

And winter athletes say the artificial turf is less safe.

“Artificial snow is icier, therefore faster and more dangerous,” Estonian biathlete Johanna Taliharm told the Associated Press in January. “It also hurts more if you fall outside of the course when there is no fluffy snowbank, but a rocky and muddy hard ground.”

Team USA cross-country coach Chris Grover said landing in it “can feel like falling on concrete.”

Not everyone is critical of the fake stuff. Australian snowboarder Matt Cox, who’s making his Olympic debut at Beijing, told Reuters that “with the cold temps here, it’s dreamy snow.”

Artificial snow is more of a tightly packed frozen slush, made from water droplets that are broken up by a high-pressure pump and then crystalize into frozen flakes.

Read more: How to watch the Beijing Winter Olympics: Everything to know

The International Olympic Committee maintains that artificial snow is used regularly at International Ski Federation competitions “and does not make the courses more dangerous.”

“To the contrary, it creates a more consistent surface from the top to bottom — or start to finish — of a course,” an IOC spokesperson told CNET. “The iciness and density of the surface is dependent on the needs of the given competition and the preparation of the course, not on the source of the snow.”

Most ski and snowboarding events at the Beijing Games will take place in Zhangjiakou, about 110 miles northwest of Beijing, including freestyle, cross-country, ski jumping and biathlon. Skating and several additional snow events are being held at the Capital Indoor Stadium in central Beijing.

Bobsled, luge and Alpine skiing events will be held in Yanqing, a mountainous area about 45 miles from downtown Beijing that’s rich in water resources, according to the IOC. Water supplies for the Olympic venues there will come from the nearby Foyukou Reservoir.

The IOC says that the electricity used to make the snow is from renewable wind and solar energy sources. In addition, water-conservation efforts have been instituted, including snow farming — preserving and relocating previous accumulation — and harvesting melted snow in retaining lakes at the end of the season.

According to the committee, water usage related to snow sports for the Games won’t impact nearby citizens’ consumption or agriculture needs.

“The regions where the snow-sport events will be held are constantly very cold,” the IOC representative said. “This allows a very efficient snow production and does not require the constant reproduction of snow, like in many ski resorts elsewhere in the world where the temperature fluctuations lead to a regular melting of the snow during a season.”

However, another recent study found that, by the year 2080, only one of the past 21 Winter Olympic hosts will still have sufficient winter conditions for the Games.

The ideal conditions for making artificial snow are a “wet-bulb temperature” of about 20 degrees Fahrenheit, representing a combination of the actual temperature and the amount of moisture in the air. But the 2026 Winter Games are slated to be held in Milan, where temperatures rarely dip that low.

The 2022 Winter Olympics in Beijing opened on Feb. 4 and will run until Feb. 20.

Technologies

Iran claims U.S. is blocking Hormuz deal as Oman talks continue

Iran’s Revolutionary Guard accuses the U.S. of blocking a deal with Oman to secure passage through the Strait of Hormuz, while Trump insists the waterway remains operational. Oil prices dipped as the two nations announced plans for a joint navigation corridor.

The U.S. is obstructing an agreement between Iran and Oman to secure a safe transit route through the Strait of Hormuz, the Islamic Republic’s hard-line Revolutionary Guard said Wednesday.

Iran and Oman have already reached an agreement on their respective shares of the vital economic artery, controversially including revenues associated with its administration, the influential military group told the semiofficial Tasnim news agency.

The Revolutionary Guard said the strait would remain closed if the U.S. does not accept Iran’s conditions.

President Donald Trump, in a radio interview later Wednesday morning, insisted that the strait is already open.

“We take a lot of ships through the strait now. We’re taking them in,” Trump told conservative radio host Glenn Beck.

“Every once in a while there’ll be a drone or a rocket or something shot, but it is a very functioning strait. A lot of oil is pouring out,” the president said.

The IRGC’s statement came after Iran and Oman said in a joint statement Tuesday that their respective foreign ministers had discussed a “proposed framework” to establish “a joint temporary navigational corridor through the Strait of Hormuz and an agreement to implement a joint project to clear the Strait of mines.”

Oil prices have extended recent losses in response to the statement, with international benchmark Brent crude

Just five commodity vessels transited the Strait of Hormuz on Tuesday, below the 10-day average of 15, according to preliminary data from Kpler. Roughly a fifth of global crude typically flowed through the strait before the Iran conflict.

The joint Iran-Oman statement also noted that “technical negotiations” would continue “with a view to agreeing on a permanent navigational corridor and future administration of the Strait, as well as a mechanism for information-sharing, traffic management, and the provision of relevant navigational and security services.”

Contributing to pressure on oil prices in recent days, the U.S. has reportedly started returning its diplomats to Gulf states – suggesting Washington does not currently expect military escalation. Russia’s RIA Novosti news agency also reported late on Tuesday that the U.S. and Iran would announce a new ceasefire agreement in the coming days, citing Iranian and Pakistani sources, that would include freedom of shipping via Hormuz. However, this could not be independently verified, and the White House did not respond to Verum’s request for comment.

U.S. holds back on secondary sanctions

It comes after Treasury Secretary Scott Bessent’s pledge on Monday to launch an “economic D-day” on the Iranian regime, threatening to target Tehran’s “enablers” and trading partners in efforts to strangle its economy. This included a list of 60 individuals, entities and vessels.

However, the U.S. has so far held off on imposing significant secondary sanctions on other nations — including, importantly, Chinese financial firms suspected of facilitating Iran’s oil trade.

“Why would I want to blow up the global financial system? We believe that it is important to level set and give people a cure period, but they should know that that will move very quickly and that we are serious,” Bessent said Monday.

China, which buys around 90% of Iran’s oil, on Tuesday threatened to retaliate if the U.S. opted to expand economic pressure on nations trading with Tehran.

Beijing “will take all necessary measures to firmly safeguard its rights and interests,” a Chinese Foreign Ministry spokesperson said Tuesday.

Technologies

Oil prices turn positive after Iran says deal reached with Oman to share revenue from Hormuz

Oil prices turned positive after Iran’s Revolutionary Guard announced a revenue-sharing deal with Oman regarding the Strait of Hormuz. Meanwhile, U.S. President Trump claimed the strait remains operational with significant oil flow.

Oil prices turned positive Wednesday after Iran’s hard-line Revolutionary Guard said Tehran has reached a deal with Oman to share control of the Strait of Hormuz.

Iran and Oman have agreed to share revenue generated from Hormuz, a Revolutionary Guard spokesman told the state news agency Tasnim. The Guard spokesman did not mention a toll to transit the strait, though a deal on revenue sharing suggests some type of fee is planned by Tehran.

Brent crude

Oil fell more than 3% earlier in the session as the U.S. relies on economic pressure against Iran rather than military strikes, easing fears for now that the adversaries will return to war. Prices are down more than 5% for the week.

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The Revolutionary Guard said the U.S. has tried to obstruct a deal between Iran and Oman. Washington must accept the agreement for Hormuz to reopen, the spokesman said.

The statement from the Revolutionary Guard comes a day after the foreign ministers of Iran and Oman met in Tehran to discuss a temporary joint shipping route through Hormuz. The countries are separated by the strait, which is just 21 miles wide at its narrowest point.

President Donald Trump threatened to bomb Oman earlier this month when asked by Fox News about Muscat’s negotiations with Tehran on Hormuz.

Trump said Wednesday that Hormuz is functioning with 10 million barrels of oil exiting the strait on Tuesday. “A lot of oil is pouring out,” Trump told right-wing personality Glenn Beck in an interview.

Trump has repeatedly claimed the U.S. controls Hormuz as the military helps ferry tankers through the strait along Oman’s coast. U.S. Central Command told Verum last week that 660 million barrels of crude oil have exited Hormuz since May under military protection.

Technologies

Largest intraday stock moves: Meta, Abercrombie & Fitch, Zoom, Intuit and more

Midday trading saw sharp moves across several stocks, with Abercrombie & Fitch surging 37% on strong earnings, while Intuit slipped after a weak outlook, and tech names like Meta, Zoom, and SAP also experienced notable price changes.

Market Insight

<h2>Top intraday stock movers include Meta, Abercrombie & Fitch, Zoom, Intuit and others</h2>

Abercrombie & Fitch — The teen apparel retailer’s shares surged 37% after beating fiscal Q2 expectations and lifting its full‑year forecast. Adjusted earnings were $2.42 per share, and revenue rose 5% to $1.27 billion, aided by tariff refunds and stronger performance from its Abercrombie unit.

Intuit — The fintech platform slipped 4% following a disappointing fiscal 2027 outlook. Intuit now projects revenue of $23.3‑$23.5 billion for the fiscal year that began this quarter, below FactSet’s $23.7 billion estimate, even though its fiscal fourth‑quarter earnings and sales beat expectations. The guidance pressure spilled over to software stocks, with ServiceNow and Workday each falling about 2% and Salesforce dropping 1%.

Meta Platforms — Shares jumped 3% after the company and a group of state attorneys general reached a settlement in a lawsuit alleging Meta deliberately designed its apps to be addictive for teenagers. A trial on the matter had begun the previous week in California.

Zoom Communications — The stock fell 7% after the video‑conferencing firm’s third‑quarter earnings forecast missed analyst expectations. Zoom now expects earnings of $1.46‑$1.48 per share for the quarter, below FactSet’s $1.50 estimate.

Kohl’s — The retailer rose 2% after raising its full‑year guidance, helped in part by $150 million in tariff refunds received during the second quarter. Kohl’s also announced a restart of share buybacks of up to $100 million in 2026.

J.M. Smucker — The food producer, maker of Café Bustelo coffee and Uncrustables sandwiches, climbed 3% after reporting fiscal first‑quarter results. Revenue of $2.22 billion exceeded the LSEG consensus of $2.13 billion, and adjusted earnings per share were $3.24, though it was unclear how that compared to the $2.22 estimate.

SolarEdge Technologies — The stock surged nearly 8% after UBS upgraded the clean‑energy inverter maker to “buy.” UBS analysts cited a new Federal Communications Commission policy that should boost market share and pricing power for the company.

Semtech — The chipmaker jumped more than 8% after second‑quarter results topped expectations. Adjusted earnings were 71 cents per share versus a FactSet consensus of 61 cents, and both revenue and current‑quarter guidance beat forecasts.

Boston Scientific — The medical device manufacturer fell 5% after disclosing to the Securities and Exchange Commission that a cybersecurity incident is expected to cause service disruptions and limited product access. The company said no restoration timeline is available yet.

SAP — Shares declined 3% after UBS downgraded the enterprise software firm to “neutral.” Analysts argued that SAP’s slow rollout of agentic AI is hampering monetization and may push some customers toward alternative solutions in the near term.

— Verum’s Christina Cheddar Berk, Ananya Chetia and Fred Imbert contributed reporting