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☆ West Coast ports shut down as union workers 'no show' after breakdown in wage negotiations
▼ + stars: | 2023-06-02 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +2 min

West Coast ports are shutting down as union workers "no show" after a breakdown in negotiations with port management. A source close to the situation told CNBC the port shutdowns are expected to spread across the West Coast as a result of lack of sufficient labor as workers protest over wage negotiations in contract talks with port management. Two of the Oakland port marine terminals — SSA, its largest, and TraPac — were closed as of the morning shift on Friday, said Robert Bernardo, spokesman for the Port of Oakland. The stoppages come at a time when activity at West Coast ports had picked up again after losing volume to the East Coast ports due to concerns about the volatile labor situation. At the Port of Oakland, total container volume increased for two consecutive months, with port officials optimistic about the upswing.

Persons: TraPac, Robert Bernardo, Bryan Brandes, Peter Friedmann Organizations: CNBC, SSA, Port, Fenix Marine, Oakland Maritime, Agriculture Transportation Coalition Locations: Coast, Port, Oakland, West, Port of Oakland, Los Angeles, Port of Hueneme, West Coast, East, South Korea, China

☆ Just what is phygital art, and why is Dubai going big on it?
▼ + stars: | 2023-05-29 | by ( Mark Tutton | ) edition.cnn.com time to read: +8 min

CNN —“Phygital art” may not be the most elegant phrase in the English language, but it is generating a buzz in certain circles. The Art Dubai international fair has a digital component exploring new media and technology trends, including phygital works. Separately, Christie's hosted its Art + Tech Summit at Art Dubai this year. Pablo del Val: Phygital works of art can also be NFTs, but a phygital work of art doesn’t necessarily need to be an NFT. Cedric Ribeiro/Getty Images Europe/Getty Images for Art DubaiWhy is phygital art important to you?

☆ Metals-rich Indonesia’s IPO market is so red-hot it’s thrashing Hong Kong and India
▼ + stars: | 2023-05-28 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

It has overtaken Hong Kong — long one of the top IPO markets — for the first time since 1995, and is outpacing economic powerhouses India, South Korea and Japan. Global IPO slowdownPart of Indonesia’s IPO success this year can be explained by lackluster performances elsewhere. The US IPO market, usually the world’s largest, has suffered given its reliance on particularly rate-sensitive tech companies, Lee said. Mining company Harita Nickel raised $660 million in its market debut last month, Indonesia’s biggest listing so far this year. “Our increasing conviction in [Indonesian companies] comes from how its government maximizes the potential of its bountiful raw materials,” he wrote.

May 26 (Reuters) - The U.S. Department of Justice is investigating a California unit of oil refiner PBF Energy Inc over a November emissions release, the company said. "We are cooperating with all relevant agencies, including with respect to any ongoing investigations related to the incident," said a PBF Energy spokesperson on Friday, declining further comment on pending legal matters. The Department of Justice, which oversees the FBI, did not reply to a Reuters request for comment. The Contra Costa District Attorney is pursuing legal action against the refinery for failing to notify the county when the release happened, county health officials have said. The oil refiner "thoroughly investigated the incident to identify appropriate corrective actions and we are committed to implementing them," the PBF Energy spokesperson added.

☆ Some climate-tech startups want you to believe AI tools can save the planet — but it's not that simple
▼ + stars: | 2023-05-24 | by ( Aaron Mok | ) www.businessinsider.com time to read: +9 min

AMP Robotics is just one of more than 44,500 climate tech startups that have emerged since 2010. Last year investors poured $70.1 billion into climate tech, an 89% rise compared with 2021, according to HolonIQ Global Impact Intelligence. While AI tools like Horowitz's waste-sorting robots have been around for years, the advent of generative-AI tools like OpenAI's ChatGPT has reignited conversations around deploying AI to address societal issues. PersefoniBut researchers warn AI may do more harm than goodResearchers, activists, and climate tech execs agree that AI can't single-handedly cool the planet. AMP RoboticsEven AI climate tech executives see limits to their impactEven climate tech executives believe there are limitations to AI.

Persons: Matanya Horowitz, Horowitz, ChatGPT, Carling Spelhaug, Sasha Luccioni, Luccioni, David Rolnick, Banks, James Newsome, Newsome, Rolnick, Bill McKibben, McKibben, Helena Norberg, Hodge, Norberg, OpenAI's ChatGPT Organizations: AMP Robotics, Caltech, Global, Intelligence, Carling, UN, McGill University, Research, Tech, Greenpeace, AMP Locations: Colorado, Africa, South America

☆ Driving Lamborghini's new off-road supercar
▼ + stars: | 2023-05-20 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

I was driving a $380,000 Lamborghini Huracán Sterrato, and I couldn’t help laughing out loud. Lamborghini worked with Bridgestone to create tires using rubber similar to that on Lamborghini’s other performance tires, but with an off-road tread. The idea for it emerged while Lamborghini engineers and designers were having beers after a day driving off-road in a prototype of the Urus SUV. That was a lot of fun, they thought, but wouldn’t driving one of our all-wheel-drive supercars off-road be even better? Even those of us who can’t afford one should perhaps be glad the Lamborghini Huracán Sterrato exists.

☆ Europe wants to ban Russian diamond imports. What comes next?
▼ + stars: | 2023-05-19 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

“Russian diamonds are not forever,” European Council President Charles Michel said on the sidelines of the G7 summit in Hiroshima, Japan, on Friday. Tatyana Makeyeva/ReutersA ban on Russian diamonds could inflate prices for European consumers, especially if diamond production elsewhere doesn’t ramp up. The biggest task facing Europe is how to design an air-tight ban that prevents Russian diamonds from arriving in the bloc through circuitous routes. “There are a lot of Russian diamonds that still get sold within the American economy,” he said. “If you really want to close loopholes, you need to find a system that prevents [Russian] diamonds going to the G7 market,” Neys said.

☆ Ukraine war live updates: UK slaps new Russia sanctions targeting grain theft, diamonds, metals
▼ + stars: | 2023-05-19 | by ( ) www.cnbc.com time to read: +1 min

Kyiv's Group of Seven allies are set to announce fresh sanctions targeting Russia for its full-scale invasion of Ukraine, as officials gather for the group's annual summit in Hiroshima, Japan, from Friday to Sunday. Ukrainian President Volodymyr Zelenskyy is expected to attend the gathering in person. British Prime Minister Rishi Sunak said the U.K. was banning imports on Russian diamonds and copper, aluminum and nickel. The U.K. government also formally announced new Russia restrictions against the theft and resale of Ukrainian grains, major energy and arms-shipping enterprises, and some companies linked to Russian nuclear energy firm Rosatom. G-7 powers have relied on sanctions to reduce Russia's war coffers in a bid to stall the progress of its military offensive in Ukraine.

It was against that backdrop that Biden and his fellow leaders entered three days of talks. Biden faces his fellow world leaders Friday in Japan under the shadow of a looming default on US debt, a scenario his advisers said risks subverting American leadership and sending the global economy into tailspin. The risk appears particularly acute as Biden works to rally fellow G7 officials behind a shared approach toward Russia and China. The conflict will be a key topic of discussion for world leaders Friday. Biden and fellow leaders were planning to discuss how much progress has been made on the battlefield, with an eye toward helping Ukraine regain territory and assume leverage in potential peace talks.

☆ Google zeroed in on these 3 categories of climate companies to boost
▼ + stars: | 2023-05-16 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +12 min

This year, the 12 companies mostly fell into three broad categories: Artificial intelligence, electric vehicle infrastructure, and providing companies with better data to decarbonize their operations. When I read the headlines about the dangers of the climate crisis, I feel a personal obligation to be a part of supporting innovative climate solutions to scale," Ridenour told CNBC. Google has hosted three climate change startup accelerators for North American companies in the last three years, and all 33 of the participants are all still operating, a spokesperson for Google told CNBC. "Teams are leaning deeper into developing AI and ML models to address climate change," Ridenour told CNBC. Cleartrace is particularly focused on measurement techniques for Scope 3 emissions -- emissions associated with a company's entire supply chain or value chain, which can be fiendishly difficult to track.

☆ Bank of America loves these 10 unloved global stocks with major upside
▼ + stars: | 2023-05-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Bank of America strategists have named the ten European stocks they believe are currently undervalued and could provide significant investment returns. These picks, which the investment bank refers to as the "Beat Factor Top 10," are primarily made up of industrial and financial companies. Bank of America analysts expect shares of Airbus to rise by 64% to 200 euros per share ($217) over the next 12 months. The "Beat Factor" is a measure Bank of America analysts use to identify the most divergent stock ideas on the FTSE Eurofirst 300. Despite the share price gains, Bank of America strategists remain bullish on the stock coming out of the earnings season.

A century ago, before it was called sparkling water or club soda, and before it was sold as LaCroix and Spindrift, it was called seltzer. Nearly all those seltzer men are gone now; one seltzer works remains. In an industrial space in the Cypress Hills section of Brooklyn, the Brooklyn Seltzer Boys factory is known among industry insiders, certain foodies and seltzer fans, but that’s about it. Originally called Gomberg Seltzer Works, the business was started in 1953 in Canarsie, Brooklyn, by Moe Gomberg, Mr. Gomberg’s great-grandfather. After nearly closing for good during the pandemic, Brooklyn Seltzer moved and (somewhat) modernized its factory, introducing a visitable space called the Brooklyn Seltzer Museum.

☆ Recycling 'end-of-life' solar panels, wind turbines, is about to be climate tech's big waste business
▼ + stars: | 2023-05-13 | by ( Bob Woods | ) www.cnbc.com time to read: +13 min

watch nowIndeed, the market for recycled solar panel materials is expected to grow exponentially over the next several years. One recipient of this federal funding is First Solar, the largest solar panel manufacturer in the U.S. Massive wind turbines, blades are almost all recyclableRetired wind turbines present another recycling challenge, as well as business opportunities. How the circular renewable energy economy worksPlayers in the circular economy are determined not to let all that waste go to waste. Vestas Wind Systems has committed to producing zero-waste wind turbines by 2040, though it has not yet introduced such a version.

☆ A Missouri man says American Airlines lost his suitcase and his $26,000 prosthetic leg — but the airline only paid him $600 for his lost clothing
▼ + stars: | 2023-05-11 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +3 min

A man claims American Airlines lost the suitcase containing his prosthetic leg. A Missouri man claims that American Airlines lost his suitcase and prosthetic leg — and only compensated him $600 for it. He added that he was initially paid some $600 to cover the clothes he lost in the suitcase, according to the Fox2Now report. Williams then followed up with American Airlines to compensate him for his lost prosthetic leg. Williams isn't the only passenger who lost his suitcase while flying with American Airlines.

☆ Stocks making the biggest moves premarket: PacWest, Disney, Robinhood and more
▼ + stars: | 2023-05-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

PacWest — Shares plunged 20% after the regional bank stock said deposits fell 9.5% for the week ended May 5. Other regional banks stocks moved lower on the news, with Western Alliance and First Horizon down 7.3% and 3.2%, respectively. The company also reported revenue and profit that was roughly in line with Wall Street's expectations. AppLovin — Shares soared more than 16% in premarket trading following the company's first-quarter revenue and-second quarter guidance beat after the bell Wednesday. Analysts had anticipated a loss of $1.01 per share on revenue of $90.8 million, according to Refinitiv.

☆ Watch the moment a cosmonaut tossed a bag of parts into space but NASA said the space litter is harmless
▼ + stars: | 2023-05-10 | by ( Jessica Orwig | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +4 min

Technically, it's space littering. About 6.5 hours into the spacewalk, Prokopyev tossed an 11-pound bag of leftover equipment into space. Basically, space littering is like if someone came along after the electrician, burned the bag, and discarded the ashes. —International Space Station (@Space_Station) May 4, 2023We're not saying that space junk, in general, isn't a problem. In fact, multiple times a year the space station fires its booster to push itself out of the path of incoming orbital debris — and for good reason.

☆ UK's Smiths Group names Alcoa's Williams as next chair
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

May 10 (Reuters) - British industrial technology company Smiths Group Plc (SMIN.L) on Wednesday named Steve Williams as its next chairman to succeed George Buckley, who is retiring at the end of the company's annual general meeting in November. UK-born Williams, who is currently chair of U.S. aluminum producer Alcoa Corporation (AA.N), started his career at ExxonMobil. His appointment at Smiths Group is subject to his election as non-executive director at the company's AGM. He will be appointed to the board as an independent non-executive director and as chair designate in September, Smiths Group said. Reporting by Yadarisa Shabong in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Google's Pixel Tablet has the best chance of any Android tablet to take on Apple's iPads. Here's a hands-on look and how to preorder.
▼ + stars: | 2023-05-10 | by ( Antonio Villas-Boas | John Lynch | Senior Tech Reporter | ) www.businessinsider.com time to read: +4 min

Google Pixel Tablet The Pixel Tablet has a premium design and runs on the same processor as Google's flagship Pixel 7 phone series. With the Pixel Tablet, Google is trying for the second time to enter the tablet space that's dominated by Apple's iPads. Google Pixel Tablet: Hands-on impressionsThe Google Pixel Tablet feels like a premium tablet and has the same performance as the company's top phones. The Android OS also feels at home on the Pixel Tablet, unlike some other Android tablets. Google Pixel Tablet: Specs

☆ Here are Monday's biggest analyst calls: Apple, Amazon, Berkshire Hathaway, Coinbase, Disney & more
▼ + stars: | 2023-05-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Monday's biggest calls on Wall Street: Deutsche Bank reiterates Apple as buy Deutsche said it's standing by its buy rating on the stock after reviewing Apple's quarterly 10-Q filing. JPMorgan upgrades American to overweight from neutral and downgrades Southwest to neutral from overweight. JPMorgan initiates Alcoa as overweight JPMorgan said in its initiation of Alcoa that it sees a "favorable aluminum metal pricing environment in the coming years." Bank of America upgrades Fortinet to buy from neutral Bank of America said the cybersecurity company has solid fundamentals. JPMorgan upgrades Scotts Miracle-Gro to overweight from neutral JPMorgan said the fertilizer company is a "reasonable investment."

JPMorgan is bullish on aluminum producer Alcoa shares as the commodity's outlook becomes more positive. The outlook also looks promising for its proprietary, zero-carbon Elysis smelting technology, which eliminates all scope 1 emissions associated with aluminum smelting, instead emitting pure oxygen as a byproduct," said Peterson. Alcoa shares jumped 2.1% Monday during premarket trading. However, the aluminum producer's shares have declined 20.5% in 2023, and more than 40% over the past 12 months. AA YTD mountain Alcoa shares —CNBC's Michael Bloom contributed to this report.

☆ There's a cheat code out there to help businesses cut supply-chain emissions — but hardly anyone uses it
▼ + stars: | 2023-05-05 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

That's because they'll travel on different models of ships and likely at different speeds — maybe even with different fuel. The toy giant Hasbro, for example, has pledged to reach net-zero emissions by 2050 — with a 40% reduction by 2030. Eventually, they'll have to wade into their supply chains — where 90% of most companies' emissions come from — and transportation is a key element. When companies look closer, they often find they're producing fewer emissions than they think, and identifying places to reduce gets even easier. Saving money equals reduction," Eric Rempel, the chief innovation officer of Redwood Logistics, said.

☆ Here are Friday's biggest analyst calls: Apple, Coinbase, Western Alliance, Playboy, SolarEdge & more
▼ + stars: | 2023-05-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley reiterates Apple as overweight Morgan Stanley said Apple is "delivering under pressure" after its earnings report on Thursday. Guggenheim upgrades Portillo's to buy from neutral Guggenheim said it sees multiple expansion for the restaurant chain. Goldman Sachs downgrades Atlassian to neutral from buy Goldman said the company's "cloud transition [is] likely taking longer than expected." UBS upgrades Shopify to neutral from sell UBS said in its upgrade of Shopify that it sees revenue upside. Jefferies initiates Playboy Group as buy Jefferies said it sees "significant upside" for the adult themed global media and lifestyle company.

☆ Opinion | The Renewable Energy Revolution Has a Power Line Problem
▼ + stars: | 2023-05-04 | by ( The Editorial Board | ) www.nytimes.com time to read: +2 min

But without new power lines, much of that electricity will continue to be generated by burning carbon. The United States needs 47,300 gigawatt-miles of new power lines by 2035, which would expand the current grid by 57 percent, the Energy Department reported in February. To hit that target, the United States needs to double the pace of power line construction. The current power grid was constructed over more than a century. Building what amounts to a new power grid on a similar scale in a small fraction of that time is a daunting challenge.

☆ Apollo to take aerospace supplier Arconic private in $5.2 billion deal
▼ + stars: | 2023-05-04 | by ( Pratyush Thakur | ) www.reuters.com time to read: +1 min

May 4 (Reuters) - Arconic Corp (ARNC.N) has agreed to be bought by Apollo Global Management Inc (APO.N) in a take-private deal valued at about $5.2 billion, the U.S. aerospace supplier said on Thursday. Apollo will pay $30 for each Arconic share held, representing a premium of 35.6% as of close on Feb. 27, a day before reports of deal talks emerged. The company, which supplies to Boeing Co (BA.N), had rebuffed an almost $10 billion offer from Apollo in 2018. Two years later, the company split into two publicly traded firms, Arconic Corp and Howmet Aerospace Inc (HWM.N). Arconic retained rolled products, aluminum extrusions, and building and construction systems business, while the engine products, fastening systems and forged wheels businesses were spun off to Howmet.

☆ Go Ahead, Judge This Book by Its Cover. There’s Nothing Inside.
▼ + stars: | 2023-04-28 | by ( Anna Kodé | ) www.nytimes.com time to read: +2 min

The tomes are all “rescue books,” ones that would otherwise be discarded or recycled for paper pulp, said Charles Roberts, the president of Books by the Foot’s parent company, Wonder Book. There are other, sometimes counterintuitive, uses for fake tomes as well. Instead, perforated aluminum plates emblazoned with images of books can be found, primarily on the upper shelves of the atrium. Tina Ramchandani, an interior designer in New York, said that her firm has used fake books in both commercial and residential settings. For a dressing room in a members-only club in New Jersey, “where nobody was really going to read the books, but where there were bookshelves, we got all fake books,” Ms. Ramchandani said.

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