Key Developments Across Energy, Retail, Tech and Policy

Gold prices have swung sharply in early 2026, with spot gold trading around $5,065 per troy ounce on February 12 after a dramatic rise through most of January and a steep pullback in late January and early February. The metal dropped more than 3% in one session, briefly breaking below the key $5,000 level, before rebounding about 1% to $4,966.83 on bargain-hunting.

Analysts on TheStreet’s Stocks & Markets Podcast traced the move back to both long-running geopolitical factors and immediate macro data. David Miller of Catalyst Funds linked the multi‑year bull phase partly to a loss of trust in dollar assets after the U.S. and allies used the SWIFT banking system in 2022 to freeze about $300 billion of Russia’s U.S.-dollar‑denominated reserves.

Miller argued that step prompted major reserve holders, including China, to consider shifting portions of their holdings from Treasuries into hard assets held domestically, such as physical gold. That structural demand narrative sits alongside near‑term swings driven by U.S. economic data and interest-rate expectations.

The latest U.S. nonfarm payrolls data showed 130,000 jobs added in January and unemployment edging down to 4.3%, dampening expectations for rapid Federal Reserve rate cuts. A firm dollar and the prospect of rates staying elevated longer weighed on gold and silver before the latest rebound, with silver having dropped 11% in a single session before recovering 2.1%.

Jabil’s January 2026 manufacturing partnership and minority investment in Eagle Harbour Technologies underscores its drive deeper into semiconductor capital equipment. The deal aims to scale SEMI‑compliant power solutions and align Jabil’s manufacturing services with secular demand in AI, cloud, automotive, healthcare and digital commerce end markets.

The move comes alongside a US$1.0 billion senior notes issuance in January 2026, highlighting growing reliance on debt-funded growth and capital deployment. Simply Wall Street notes that investors must weigh this against Jabil’s already high debt load, thin margins and one‑off charges, even as the company targets US$1.2 billion in free cash flow over time.

Jabil’s longer-term narrative projects US$34.3 billion in revenue and US$1.3 billion in earnings by 2028, implying 6.4% annual revenue growth and a roughly US$723 million earnings increase from about US$577 million today. Community fair value estimates span from roughly US$264 to US$369 per share, reflecting wide dispersion in views on how AI-driven demand offsets weakness in renewable energy, EV and consumer-facing segments.

Cuba’s acute fuel shortage is now directly hitting its tourism infrastructure, a critical source of foreign currency. Authorities have begun closing hotels in areas such as Varadero and northern cays and consolidating guests into fewer properties to cut energy use. Vice Prime Minister Óscar Pérez‑Oliva Fraga said the plan is designed to optimise operations during the 2026 peak season.

The shortage has also disrupted air links. Air Canada has cancelled all flights to Cuba until at least May 2026 due to a lack of aviation fuel, forcing repatriation efforts for stranded travellers. Russian carriers are evacuating around 4,000 tourists before suspending regular services, while other airlines add refuelling stops outside Cuba. Several governments, including Canada, the UK and Australia, now advise against non‑essential travel due to power outages, fuel constraints and unreliable transport.

In the UK, the hospitality sector is pushing back against a proposed visitor levy that would allow English mayoral authorities to charge overnight guests. More than 200 leaders from major hotel and accommodation groups signed a UKHospitality-coordinated letter warning the surcharge could add £100 or more to a two‑week family holiday and risk diverting tourism spend abroad.

Industry signatories, including executives from Hilton, Travelodge, IHG and Butlin’s, argue that hotels are already facing high business rates, energy and labour costs, and that reduced visitor numbers would harm employment across hotels, cafes, pubs, transport and attractions. The proposal follows similar moves in devolved administrations in Scotland and Wales, where local tourist taxes are being introduced.

Tesco is accelerating its UK convenience strategy, planning more than 70 new Tesco Express stores by the end of its 2026/27 financial year after opening around 60 in 2025. The expansion includes converting five former Amazon Fresh sites in London into Express formats, with re‑openings slated before summer 2026, and new sites across England, Scotland, Wales and Northern Ireland.

The retailer, which already operates over 2,000 Express outlets in the UK and Ireland, is responding to data showing customers favour frequent, local top‑up shopping trips. The push comes amid tight grocery margins shaped by inflation, operating cost pressures and intense price competition, even as large chains continue to prioritise physical store networks alongside e‑commerce.

From July 1, 2026, EU customs rules will remove the long‑standing duty‑free threshold on low‑value imports. Parcels under €150 will no longer be exempt and instead incur a flat €3 customs duty per item category in a shipment, as part of a wider EU customs reform targeting booming cross‑border e‑commerce.

EU authorities have cited concerns over undervaluation, product safety and competitive imbalances facing EU-based retailers as billions of small parcels arrive directly from non‑EU sellers each year. The interim flat charge will apply until a new digital customs system and centralised data hub are fully implemented, after which standard tariffs will apply without a low‑value threshold. Retailers and logistics providers serving EU consumers are expected to reassess pricing, margins and fulfilment strategies ahead of the change.

Retailers are increasingly treating cyber risk as a core performance metric, as new analyses link cyberattacks directly to sales volatility and supply‑chain disruption. Mastercard’s Economics Institute found that incidents such as the September 2025 attack on Japan’s Asahi Group triggered stockpiling and distorted buying patterns that persisted for months, extending beyond immediate financial losses.

This has prompted retailers to monitor indicators such as downtime, fraud loss rates and supply chain recovery speeds alongside traditional KPIs like revenue growth and customer retention. Industry reports also highlight closer integration between cybersecurity and fraud prevention, as fraud attempts increasingly stem from earlier digital intrusions and shoppers rapidly shift away from retailers hit by security failures.

At the same time, packaging is under sharper regulatory and operational scrutiny. Germany has approved amendments to its Packaging Act to align with the EU Packaging and Packaging Waste Regulation, tightening recyclability standards, recycled-content requirements and extended producer responsibility enforcement. Companies must meet design‑for‑recycling criteria and improved reporting obligations, with authorities aiming to close compliance gaps, particularly in cross‑border e‑commerce.

Retailers and manufacturers are also confronting the persistent cost of transport damage. Despite advances in materials and automation, many packaging formats remain designed for idealised conditions and fail under real‑world vibration, compression, drops and frequent handling. Industry commentary notes that lightweighting and older test protocols can leave loads vulnerable in modern, fragmented supply chains, turning minor design compromises into higher damage rates, returns and customer dissatisfaction.