Business
Ripe for disruption: A new type of avocado has emerged

Ripe for disruption: A new type of avocado has emerged

Ripe for disruption

It’s big news for brunch enthusiasts: agricultural scientists at the University of California have unveiled their latest development, the product of more than 50 years of selective breeding — a new variety of avocado.

Trademarked as the ‘Luna UCR’, but known officially as the BL516, the Luna is the great-granddaughter of the Hass avocado, the world’s most popular variety, and has been bred to offer consumers high storage quality, excellent ripening, and, of course, great taste and texture.

However, when pitted against the Hass, the Luna is reported to have a few notable advantages for growers. Its smaller tree size allows for denser planting, yielding more fruit per meter, as well as minimal pruning and efficient harvesting. The global effects of climate change have also meant that the Hass’ intolerance to extreme heat (did you know that avocados can get sunburn?) and sensitivity to pests could make the hardier Luna a promising option for farmers.

Since the early 2000s, the US market has seen demand for avocados boom, with availability tripling from over 2 pounds per person in 2001 to more than 8 pounds per capita in 2021 — that’s 20 years of seeing millennials making more avocado toast and buying fewer houses.

To satiate our appetite for the fruit, the US relies heavily on imports, since domestic avocado production and acreage have slowly declined since 2011. Indeed, imported avocados now account for 90% of supply in the US — with the overwhelming majority of those coming from Mexico, a trade that’s worth some $3.1bn a year.

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$98B ⛽

The IATA released its latest financial outlook for the airline industry over the weekend, forecasting a $98 billion jump in the sector’s collective fuel bill. The world’s largest trade group representing airlines expects the oil spike to halve profits by 49% from last year to $23 billion.

The group also expects profit margins to halve year over year, falling from 2025’s 4.2% to 2%. Still, revenue is expected to climb to $1.17 trillion from $1.07 trillion.

A surge in the cost of jet fuel has rocked US and global airlines this year, leading Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, and others to raise fares and ancillary charges like bag fees. Low-cost carriers, which operate on smaller margins, have been squeezed the hardest, resulting in Spirit’s shutdown.

“It’s a tough year for all airlines, especially those whose balance sheets had not yet recovered from COVID. And, of course, for those operating in the Gulf,” said IATA Director General Willie Walsh, who added that demand is holding up and about half of passengers expect to spend more on travel this year. “That bodes well for a strong northern summer peak season. The big unknown is how long travelers and shippers can tolerate the higher costs of connectivity.”

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GM has reportedly rehired more than 100 former Cruise employees, 18 months after shuttering the robotaxi unit

GM has rehired more than 100 employees it let go early last year when it shuttered Cruise, its former robotaxi business, according to reporting by The Information.

The hiring spree, which also includes employees from Nvidia and Uber, is geared toward ramping up GM’s plans for personal-use self-driving vehicles and not robotaxis. The former had been the focus of Cruise, prior to GM shuttering it in 2024.

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

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