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☆ Bangalore water crisis: India’s ‘Silicon Valley’ is running dry as residents urged to take fewer showers, use disposable cutlery
▼ + stars: | 2024-03-14 | by ( Rhea Mogul | ) edition.cnn.com time to read: +9 min

As layers of tarmac swept through the city, Bengaluru lost its ability to absorb water, Ramachandra said. One woman begins to hit the vessel to check its water levels. No one sparedWhile the city’s poorest are bearing the brunt of Bengaluru’s water crisis, it hasn’t spared the upper middle class either. Activists and BJP members hold empty water pots during a protest against the state government over the severe water crisis, in Bengaluru on March 12, 2024. Idress Mohammed/AFP/Getty ImagesYet, for the city’s residents, the tit-for-tat arguments mean little as they experience the worst of the shortages.

Persons: ”, Ram Prasat Manohar, Ramachandra, “, Karnataka Raj Bhavan, Arijit Sen, D.K, Shivakumar –, Vishwanathan, Idrees Mohammed, Kumkum, Idress Mohammed, Geeta Menon, hasn’t, India’s, Maher Taj Organizations: India CNN, Infosys, Wipro, Ecological Sciences, Bengaluru –, “, Hindustan Times, Getty, Private, Authorities, Susheela, CNN, Management, won’t, Reuters, Bharatiya Janata Party, BJP, Congress Locations: Bengaluru, India, India’s, Bandepalya, Bengaluru –, Bangalore, ”, Karnataka Raj, Karnataka, Whitefield, AFP

☆ Big Tech’s next key market is India. Here’s how four Club portfolio names are playing it
▼ + stars: | 2024-02-16 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

Just days after delivering a stellar quarter, Microsoft CEO Satya Nadella was on a whirlwind speaking tour throughout India. The Indian market also represents a largely untapped market that will diversify revenue streams. Over the summer, India became Amazon's first market in Asia to launch its dedicated virtual cargo airline , dubbed Amazon Air. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Satya Nadella, Morgan Stanley, Chetan Ahya, Ahya, Bernstein, Nadella, Zev Fima, Fima, Tim Cook, Amazon, Sundar Pichai, Jim Cramer's, Jim Cramer, Jim Organizations: Microsoft, Apple, country's Ministry, Skill Development, Entrepreneurship, Club, Foxconn Technology, Media, Amazon, Walmart, Web Services, Google, CNBC Locations: India, Mumbai, Bengaluru, New Delhi, China, Asia, United States, Chennai, Puna, Hyderabad, Tamil Nadu, India's, Gujarat

☆ Has the LA scene fizzled? SoCal has fallen further behind the Bay Area, NYC and Boston for startup funding: 'People deep in AI are just not in LA'
▼ + stars: | 2024-01-23 | by ( Ben Bergman | ) www.businessinsider.com time to read: +8 min

But last year, the LA tech scene stalled, according to Carta data. Startup funding plummeted everywhere, but nowhere experienced a steeper decline than LA, where funding declined 65% from 2022. CartaLA's startup funding dropped 65% last year, a steeper decline than the Bay Area, New York or Boston. "They're very deep AI companies, but they're being applied to a vertical, which is one of the strengths of LA," Ingersoll said. Bird goes bust and Snap snaps backThere was more bad news for LA's startup scene in 2023 than just the dismal funding numbers.

Persons: Ethan Aldrich, Aldrich, there's, Andreessen Horowitz, a16z, Katia Ameri, Ameri, VCs, Nikita Bier, Bier, Mark Suster, Suster, LA's, we're, Palmer Luckey, Minnie Ingersoll, Ingersoll, Bird, Zillow, Spencer Rascoff, Evan Spiegel ERIC PIERMONT, Ishan Singh, Singh Organizations: Stanford, Business, Lightspeed Venture Partners, Coatue Management, LA Tech, LA, Carta, Honest Company, New, Boston, Microsoft, Clark, SpaceX Locations: Santa Monica, Southern California, LA, Santa, Hayes, San Francisco, Los Angeles, San Francisco and New York, New York, Boston, Carta, San Diego, Seattle, Hawthorne , CA, Costa, Bay

[1/2] A Boeing logo is seen at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 18, 2023. The move comes more than three years after it pulled out of a billion-dollar deal to buy the commercial division of local planemaker Embraer (EMBR3.SA). Boeing sees both firms aligned in the goal of developing Brazil's aerospace ecosystem. Boeing's expansion in the South American nation led two domestic defense and aerospace industry groups to sue the U.S. company for hiring local talent, a move they see harming Brazil's industry. Both groups have Embraer as a member,Boeing defended its move, saying its presence will boost Brazil's aerospace ecosystem.

Persons: Benoit Tessier, DOS CAMPOS, Brendan Nelson, Nelson, Sao Jose dos Campos, We're, Landon Loomis, Gabriel Araujo, David Gregorio Our Organizations: Boeing, Paris, REUTERS, SAO, DOS, Embraer, EMBR3, Reuters, SAF, GOLL4, U.S ., America & Caribbean, Thomson Locations: Le Bourget, Paris, France, Brazil, U.S . Brazil, Sao Jose, Sao Paulo, American, U.S, America

He said in the short-term resources could be diverted if the conflict expands, such as staff at tech companies being called up as military reservists. "They will probably increase the investment in AI," Krosby said. "It could bolster support for more financial resources for tech for the military, which then ultimately transitions to the private sector tech companies," Krosby added. The tech sector has shown resilience in the past, overcoming a number of conflicts with Hamas in Gaza. Apjit Walia the Managing Director at DVN Capital said the Israeli tech sector "has historically bounced back from geopolitical tragedies."

Persons: Amir Cohen, Israel, Jack Ablin, Quincy Krosby, Jensen Huang, Benjamin Netanyahu, LPL's Krosby, Krosby, DVN Capital, Max A, Cherney, Mica Rosenberg, Steven Scheer, Kenneth Li, Megan Davies, Jamie Freed Organizations: Intel, REUTERS, FRANCISCO, Tech, Hamas, Cresset Wealth, Financial, Intel Corp, Sunday, Nvidia, Tel, Semiconductor, Meta, Apple, Microsoft, IBM, Google, Facebook, DVN, Thomson Locations: Petah Tikva, Tel Aviv, Israel, JERUSALEM, Gaza, Charlotte , North Carolina, United States, Silicon Valley, Kiryat Gat, Apjit, Francisco, New York, Jerusalem

☆ GM's Ultium agrees to increase EV battery worker pay by 25% on average
▼ + stars: | 2023-08-24 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

General Motors revealed its all-new modular platform and battery system, Ultium, on March 4, 2020 at its Tech Center campus in Warren, Michigan. DETROIT — General Motors' Ultium Cells has agreed to increase worker pay at its battery plant in Ohio by an average of 25%, the company and United Auto Workers union said Thursday. The deal is a major win for the union, as it's the first major organized battery plant in the country. The union previously argued the battery workers should make the same wages as their traditional counterparts assembling engines and cars. Ultium workers currently make between roughly $20 and $25 an hour for production workers and $25 to $34.60 an hour for maintenance employees.

Persons: Josh Ayers Organizations: Motors, Tech Center, DETROIT —, United Auto Workers, LG Energy, UAW, Detroit automakers, GM, Ford Motor Locations: Warren , Michigan, DETROIT, Ohio

☆ The 23 most important VCs in the Rocky Mountain region, according to other VCs
▼ + stars: | 2023-08-14 | by ( Melia Russell | ) www.businessinsider.com time to read: +2 min

The Rocky Mountains are luring venture capitalists from tech hubs like Silicon Valley and New York. In 2022, according to data gathered by Carta, Denver was the 11th-busiest metropolitan area for venture investment in the country, with more than $2 billion in capital raised on Carta. Startups in Salt Lake City collected another $900 million in funding last year. In 2022, Denver and Boulder, Colorado, and Salt Lake City, Utah, ranked among the top 20 metropolitan statistical areas by venture investment. CartaOur list includes both seasoned venture capitalists who have been elevating Rocky Mountain tech for years and ambitious newcomers looking to strike gold in an overlooked territory.

Persons: Chris Sacca Organizations: Carta, Rockies, Rocky, Foundry Group Locations: Silicon, New York, Denver, Boulder , Colorado, Salt Lake City , Utah, Wyoming, Montana, Carta, Salt Lake City, Boulder

☆ Electric Cadillac Escalade to test GM's EV strategy, cash machine
▼ + stars: | 2023-08-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

The Escalade IQ is the first – and most important – traditional Cadillac model to be released as an EV. The automaker plans to initially sell the new electric Escalade IQ alongside the current traditional models. A close-up of the illuminated front end of the electric Cadillac Escalade IQ, including a black crystal shield badge. CadillacA teaser video released by GM of the Escalade IQ appears to have more design elements similar to the automaker's Cadillac Lyriq and Cadillac Celestiq than the traditional Escalade. The first-generation Cadillac Escalade was produced from 1998 through 2000 by General Motors.

Persons: Escalade, Mary Barra, It's, Tyson Jominy, John Roth, Roth, Edmunds, Michael Simcoe, Steve Fecht, Rory Harvey, Wayne Cherry Organizations: Motors, GM, General Motors, Cadillac, CNBC, U.S, Auto, Benz, Ferrari, Lamborghini, Cadillac's, GM Tech Center, General Motors GM, GM North America, GMC Hummer, Chevrolet Silverado, Cruise, Arlington Assembly, Chevrolet, GMC, ICE Locations: New York City, Cadillac's U.S, U.S, Warren , Michigan, Detroit, Texas, Simcoe

☆ EV battery plants emerge as wild card issue in UAW contract talks
▼ + stars: | 2023-07-21 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Multibillion-dollar EV battery plants — and their thousands of expected workers — are crucial to the automotive industry's future and uniquely positioned to have wide-ranging implications for the UAW, automakers and President Joe Biden's push toward domestic manufacturing. But UAW leadership has made it a priority to ensure a "just transition" to EVs for auto workers, including the battery plants. Michael Wayland / CNBCEither side could use the battery plants as indirect leverage in the negotiations, according to current and past negotiators from both sides of the table. At GM's Ultium battery plant in Ohio, workers make between $16 and $22 an hour with full benefits, incentives and tuition assistance. Setting a standardThe UAW last week released a white paper detailing some reported safety issues and concerns at the Ultium plant.

Persons: Motors, Steve Fecht, Joe Biden's, they're, Shawn Fain, Jerome Buckley, Michael Wayland, Mary Barra, Nic Antaya, Fain, Biden, Joe Biden, Kinethia Black, Bolt Organizations: Tech Center, General Motors DETROIT, United Auto Workers, UAW, General Motors, Ford Motor, CNBC, EV, GM, Detroit, General Motors Factory, Getty, Ford, General Motors Orion Assembly, Chevrolet Locations: Warren , Michigan, Detroit, Ohio, Detroit , Michigan, Michigan, Orion Township , Michigan

☆ Auto industry braces for contentious contract talks as UAW formally kicks off bargaining
▼ + stars: | 2023-07-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

Rebecca Cook | ReutersDETROIT — United Auto Workers President Shawn Fain promised union members he'd do things differently during contract talks with the Detroit automakers this year. Playing hard ball"We're in the process of changing the culture of this union from a reactionary, defensive union, to an aggressive and offensive-minded union," Fain said last month during a Facebook livestream. The deals cover roughly 150,000 UAW members who work for the automakers. United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant in Detroit, Sept. 25, 2019. "The federal government is pouring billions into the electric vehicle transition, with no strings attached and no commitment to workers," Fain said earlier this year.

Persons: Shawn Fain, Rebecca Cook, he'd, Fain, Gary Jones, Bill Ford, Ford Fain, —, Jim Farley, Chuck Browning, We've, … We're, Joe Biden, John Murphy, Stellantis, Reuters Stellantis, What's, Michael Wayland, BofA's Murphy, Steve Fecht Organizations: Reuters DETROIT — United Auto Workers, Detroit, UAW, Motors, Ford Motor, Ford, Headquarters, Facebook, " Bank of America Securities, General Motors, BofA Securities, GM, Fiat Chrysler, Fiat Chrysler Automobiles, FCA Sterling Heights Assembly, Reuters, United Auto, United Auto Workers, Hamtramck Assembly, CNBC, Center for Automotive Research, Deere, Co, Caterpillar, Ultium Cells, LG Energy, Tech Center Locations: Detroit, Illinois, Stellantis, Sterling Heights , Michigan, Hamtramck, Lordstown , Ohio, Warren , Michigan

☆ 5 things everyone is getting wrong about electric cars
▼ + stars: | 2023-06-16 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +5 min

As electric vehicles enter the market, misconceptions abound regarding the cars and how automakers can remain profitable while ditching the internal combustion engine, says Mark Reuss, General Motors' president. Companies need hybrids to bridge the gap to full EVsSome automakers have been making the transition to electric lineups with a pit stop: hybrids. Toyota, for example, has invested in hybrids in addition to electric products and has faced skepticism from the industry as a result. "We're not going to dilute our investment with hybrids," Reuss said, adding that the automaker expects its EV business to be profitable by 2025. The charging experience and the driving experience are one and the sameReuss said it can be frustrating to see drivers rate vehicles based on the charging experience alone.

Persons: Motors, Mark Reuss, General Motors, Reuss, Tesla, We're, It's, " Reuss, that's Organizations: General, GM, Toyota, Chevrolet, GM's Tech, Ford, GM Energy, GMC Hummer, EV

☆ GM hires ex-Apple exec to lead new software unit
▼ + stars: | 2023-05-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

A sign with the General Motors quality mission statement stands in the lobby at the GM Warren Tech Center in Warren, Michigan. DETROIT – General Motors has hired former Apple executive Mike Abbott to lead a newly created software unit for the Detroit automaker. Abbott, former vice president of engineering for Apple's Cloud Services division, will join GM as executive vice president of software, effective May 22. Software, specifically monetizing it, is a major focus for automakers such as GM, as they eye reoccurring revenue opportunities such as subscriptions to boost profits. GM has a target to grow profit margins and double its revenue to about $280 billion by the end of this decade.

☆ General Motors cuts several hundred full-time contract workers
▼ + stars: | 2023-05-01 | by ( ) www.cnbc.com time to read: +1 min

A sign with the General Motors quality mission statement stands in the lobby at the GM Warren Tech Center in Warren, Michigan. General Motors Co on Monday said it had cut several hundred full-time contract workers over the weekend including at its engineering hub in suburban Detroit, the latest effort by the U.S. automaker to streamline operations. The Wall Street Journal reported the job cuts earlier. GM said in April that about 5,000 salaried workers had opted for buyouts to leave the company. The offers cover 31,000 hourly workers and about 2,500 salaried workers.

☆ Older Adults Are Obsessed With These Five Tech Topics
▼ + stars: | 2023-04-01 | by ( Julie Jargon | ) www.wsj.com time to read: 1 min

The residents of a retirement community in the heart of Amish country are proving what experts on aging have been saying for years: Older adults are as keen on new technologies as anyone else. Willow Valley Communities, a 2,600-resident campus in Lancaster, Pa., has a tech center staffed by volunteers. People can drop in for tech help or get their computers fixed. It also has an active computer club and an Apple products group that offer resident-taught classes.

☆ General Motors doesn’t expect significant U.S. production of EVs until second half of year
▼ + stars: | 2023-01-31 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

Barring any supply chain problems, Betts said electric vehicles should be easier and faster to build than traditional vehicles with internal combustion engines for an experienced automaker. Photo by Steve Fecht for General MotorsBut others such as Hyundai Motor and Ford Motor have been ratcheting up production of EVs. Industry leader Tesla also targets to produce 2 million electric vehicles globally this year. Ford, which ranked second in EV sales in the U.S. last year, expects to increase production of its electric Ford F-150 Lightning. GM expects to ramp-up production of the Bolt models, which use older battery technology, to 70,000 vehicles this year, GM has said.

☆ GM, LG investing $275 million to expand Tennessee EV battery plant
▼ + stars: | 2022-12-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

General Motors revealed its all-new modular platform and battery system, Ultium, on March 4, 2020 at its Tech Center campus in Warren, Michigan. General Motors and LG Energy Solution will spend an additional $275 million in their joint venture battery plant in Tennessee to increase production by more than 40%. The Ultium Cells Spring Hill site is expected to join other joint venture battery cell manufacturing sites in Ohio and Michigan. "Ultium Cells will play a critical role in making GM's commitment to an all-electric future a reality," said Tim Herrick, GM's vice president of EV Launch Excellence. "By expanding battery cell output at Ultium Cells Spring Hill, this investment will help GM offer customers the broadest EV portfolio of any automaker and further solidifies our path toward U.S. EV leadership."

☆ 5 things automakers and car shoppers are getting wrong about electric vehicles, according to GM's president
▼ + stars: | 2022-12-02 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +5 min

GM is looking to position itself as a leader in electric vehicles, putting billions of dollars toward electrifying its fleet and promising a future without fossil-fuel emissions. Companies need hybrids to bridge the gap to full EVsSome automakers have been making the transition to electric lineups with a pit stop: hybrids. Toyota, for example, has invested in hybrids in addition to electric products and has faced skepticism from the industry as a result. "We're not going to dilute our investment with hybrids," Reuss said, adding that the automaker expects its EV business to be profitable by 2025. The charging experience and the driving experience are one and the sameReuss said it can be frustrating to see drivers rate vehicles based on the charging experience alone.

☆ Tumbling bitcoin overshadows El Salvador's crypto conference
▼ + stars: | 2022-11-17 | by ( Nelson Renteria | ) www.reuters.com time to read: +2 min

[1/2] A worker talks on a stand during the launch of Adopting Bitcoin – A Lightning Summit in El Salvador, in San Salvador, El Salvador November 15, 2022. Crypto exchange "Bitfinex will redouble its efforts to build a free, unstoppable, resilient and open bitcoin and technology infrastructure for El Salvador," said Paolo Ardoino, the firm's chief technology officer. Ifinex, Bitfinex's parent, has agreed to collaborate with El Salvador's government to create a digital asset and securities regulatory framework. "El Salvador will become the financial and tech center of Central America. The noise won't distract the builders," Ardoino added after meeting with El Salvador President Nayib Bukele.

☆ GM tests limits of Cadillac’s brand power with $300,000 Celestiq electric car
▼ + stars: | 2022-10-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

2024 Cadillac Celestiq CadillacDETROIT – Cadillac is testing the limits of its brand allure and pricing power with the 2024 Celestiq – a large, bespoke electric car that will start at more than $300,000. The vehicle – unveiled Monday night – launches the General Motors brand into the ultra-luxury segment against the likes of Bentley and Rolls-Royce. Executives say the vehicle is more about creating a "halo car" that helps burnish Cadillac's image, rather than fueling overall sales or profits. 2024 Cadillac Celestiq CadillacHarvey declined to discuss the vehicle's profit margins or whether the company plans to add additional hand-built models. Cadillac has not sold a hand-built vehicle for decades, but its crosstown rivals have offered such cars as custom performance models.

☆ How GM plans to convince consumers to make the switch to electric vehicles
▼ + stars: | 2022-10-08 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +6 min

Scott Mlyn | CNBCWhen people think of electric vehicles, their minds typically jump to Tesla. GM plans to sell up to 175,000 electric vehicles to Hertz Global by 2027 – rentals are a key method to introduce more people to EVs without having to commit to a purchase. Over the years, GM has created other virtual showrooms like Chevy MyWay and Cadillac Live, but GM EV Live is the first EV-only showroom being offered by GM. Focus on all the in-car technology, not just EV technology GM is focused on advancing technology to create better and safer driving experiences along with sleeker models for EVs. Maintain core principles through EVs Wahl said one thing that has not changed is the underlying principles of marketing.

Spanish firm Genaq extracts water through the air with atmospheric generators. Since 2008, the company has been investing in researching, development, and industrialization of atmospheric water generators produced in Lucena. "In the air we breathe there is a certain degree of humidity which is actually water. From there, teams can dispense the water they just produced on-site for all sorts of situations — from emergencies and dwindling water supplies to a total water shortage. "In many cases, the water we're producing is no longer an extra or alternative water supply; it's the main source of water," says Inmaculada Armenteros.

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