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☆ BlackRock keeps pumping the brakes on a new fund amid state-level ESG criticism
▼ + stars: | 2023-08-24 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +5 min

Last fall, BlackRock filed to launch an ESG municipal bond exchange-traded fund. It is in essence an ESG version of its major $32 billion municipal bond fund. The delay for the world's largest ETF provider has puzzled some in the industry. This year Goldman Sachs launched its first municipal bond ETF, which takes into account social and environmental factors. BlackRock's ESG municipal bond ETF has another wrinkle.

Persons: Larry Fink, Wesley Gray, Matthew Tuttle, they've, Goldman Sachs, Fink, Salim Ramji, Tony Kelly Organizations: BlackRock, Securities and Exchange Commission, SEC, HIP Muni Bond ETF, Alpha, Republican, Tuttle Capital Management, Goldman, HIP Investor, HIP Locations: York, Arizona , Texas, South Carolina, BlackRock, Connecticut

☆ Exclusive: China's Xiaomi wins state planner nod to make EVs amid glut in autos
▼ + stars: | 2023-08-23 | by ( Julie Zhu | ) www.reuters.com time to read: +4 min

A man walks past a logo of Xiaomi, a Chinese manufacturer of consumer electronics, outside a shop in Mumbai, India, May 11, 2022. Xiaomi, which owns the world's third largest smartphone brand by shipments, did not immediately respond to a request for comment. Xiaomi plans to produce about 100,000 EVs next year, said one of the sources. But Xiaomi, which reported an 18.9% drop in its latest quarterly revenue in May, has its own compulsions for foraying into EVs. Xiaomi plans to use the thousands of stores it has as showrooms for its electric cars, Reuters previously reported.

Persons: Francis Mascarenhas, HONG KONG, Xiaomi, Tesla, NDRC, MIIT, Lei Jun, Julie Zhu, Muralikumar Organizations: REUTERS, Xiaomi Corp, HK, National Development, Reform Commission, EV, Ministry of Industry, Reuters, Lucid, Beijing Daily, China Passenger Car Association, Thomson Locations: Mumbai, India, HONG, Beijing, Shanghai, Reuters U.S, China, China ., EVs

☆ Muni bonds are cheap, but they may hide a tax surprise. How to prepare
▼ + stars: | 2023-08-23 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

High-income investors, especially those in the 32% marginal federal income tax bracket, appreciate that munis offer income that's exempt from federal levies. Paying for a discount Bond yields and prices move opposite to each other. That means municipal bonds are trading at discounts, which can come with tax ramifications if they're too cheap versus the bond's par value, or the amount the issuer will repay the investor at maturity. Consider an investor who is purchasing a 10-year municipal bond with a par value of $10,000, trading at $9,750. Investors also shouldn't overlook the fact that the muni bond is still providing them with tax-free income in their portfolios.

Persons: Bond, Cooper Howard, Charles Schwab, Tim Steffen, Baird, Steffen Organizations: Federal Reserve, Bond, SEC, Investors

☆ China fines Mintz $1.5 mln for 'unapproved' work, after raiding its Beijing office
▼ + stars: | 2023-08-22 | by ( Yew Lun Tian | ) www.reuters.com time to read: +2 min

The U.S. corporate due diligence firm Mintz Group's office is seen in Hong Kong, China, May 18, 2023. REUTERS/James Pomfret/File Photo Acquire Licensing RightsBEIJING, Aug 22 (Reuters) - China fined U.S. firm Mintz Group about $1.5 million for doing "unapproved statistical work", said a Beijing Municipal Bureau of Statistics notice, after a raid of its Beijing office sparked worries about China's openness to foreign investment. In a further notice on its website dated July 14, the bureau said Mintz conducted 37 such investigations from March 2019 to July 2022. The firm has previously said it is licensed to conduct legitimate business in China and that it has always operated lawfully. Chinese authorities raided Mintz's Beijing office in March and detained all five local staff, in what turned out to be the beginning of a sweeping crackdown on consultancy and due diligence firms, including Bain & Company's office in Shanghai and Capvision Partners.

Persons: Mintz, James Pomfret, Xi Jinping, Yew Lun Tian, Michael Perry Organizations: REUTERS, Rights, China, U.S, Mintz Group, Beijing Municipal Bureau, Beijing's, Statistics, Wall Street Journal, Bain, Capvision Partners, Thomson Locations: Hong Kong, China, Rights BEIJING, Beijing, Shanghai

☆ China fines Mintz Group $1.5 million for 'unapproved' investigations
▼ + stars: | 2023-08-22 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China has fined Mintz Group, an American corporate due diligence firm, about $1.5 million for allegedly conducting unapproved statistical work in the country, as it continues with a nationwide crackdown on consulting firms in the name of national security. The fine came to light months after authorities closed the firm’s Beijing office in March and detained five of its local employees. Mintz’s Beijing office had carried out “foreign-related statistical investigations” without seeking and obtaining approvals, which violated two Chinese regulations, the Beijing Municipal Bureau of Statistics said in a statement on its website dated July 14. The authorities imposed a fine totaling 10.69 million yuan ($1.49 million) on the company and ordered it to stop conducting such investigations in the country. Days after the raid occurred, a spokesperson for the Chinese foreign ministry said Mintz was suspected of “illegal business operations.”Since then, Chinese regulators launched a broader crackdown on consulting firms.

Persons: Mintz, Mintz didn’t, Capvision Organizations: Hong Kong CNN, China, Mintz Group, Beijing Municipal Bureau, Statistics, CNN, Wall Street, Bain & Company Locations: Hong Kong, American, Beijing, Shanghai, New York, United States, Washington, chipmaking, China

☆ DeSantis’ appointees attack Disney over local employee perks and discounts
▼ + stars: | 2023-08-22 | by ( Samantha Delouya | ) edition.cnn.com time to read: +4 min

CNN —Allies of Ron DeSantis have fired another shot at the Walt Disney Company as the Florida governor’s long-standing rivalry with the media company heats up again. As part of DeSantis’ bill, RCID was renamed the Central Florida Tourism Oversight District, and the district’s pre-existing oversight board was replaced by five people hand-picked by DeSantis. Earlier this year, Disney sued DeSantis and the district oversight board in federal court, accusing DeSantis of weaponizing his political power to punish the company for exercising its right to free speech. In May, the oversight board voted to sue Disney in order to maintain its oversight of the district. Earlier this month, DeSantis urged Disney to drop its lawsuit in an interview with CNBC, saying “we’ve basically moved on.”

Persons: Ron DeSantis, DeSantis ’, DeSantis, RCID, Jeremy Redfern, ” Disney, Aubrey Jewett, It’s, ” Jewett, Jewett, “, ”, Disney, Disney’s, Bob Chapek, “ we’ve Organizations: CNN —, Walt Disney Company, Central, Walt Disney World, Disney, DeSantis, Twitter, University of Central, CNBC Locations: Florida, Central Florida, DeSantis, RCID, University of Central Florida, Reedy Creek

Leading the round alongside BlackRock, the world's biggest asset manager, were Canada Pension Plan, Ontario Municipal Employees Retirement System and, as previously reported, pension investor Investment Management Corporation of Ontario. The fresh funds will help the firm expand its factory footprint, Hartman said. Separately, Northvolt has assembled its first energy storage system products in Poland and expects to start customer deliveries from later this year. "We have a business plan... we always want to make sure we have access to the markets," Hartman said. Reuters has previously reported, citing sources, that Northvolt was preparing for an initial public offering that could value the company at more than $20 billion.

Persons: Helena Soderpalm, IMCO, Northvolt, Alexander Hartman, Goldman Sachs, Baillie Gifford, Swedbank, Singapore's, Chow, Hartman, Supantha Mukherjee, Simon Jessop, Mark Potter Organizations: REUTERS, BlackRock, Reuters, Management Corporation of Ontario, Volkswagen, Chow Tai Fook Enterprises, BMW, Volvo, Thomson Locations: Vasteras, Sweden, BlackRock, Canada, STOCKHOLM, LONDON, Swedish, Europe, North America, Ontario, Hong Kong, Germany, United States, Scania, Poland, Stockholm, London

☆ Now is the time to buy longer-dated bonds as 10-year Treasury yields push near 2007 highs, Schwab says
▼ + stars: | 2023-08-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

With 10-year Treasury yields at their highest since shortly before the financial crisis, it's a good time to add duration to your fixed income portfolio, according to Charles Schwab fixed income strategist Cooper Howard. "If I were a betting man, I think the odds favor moving lower rather than higher," Howard said. Even if there is more upside in yields ahead, Howard still thinks the risk/reward looks attractive on longer-term bonds right now. US10Y YTD mountain US 10-year Treasury Where to add duration depends on your risk tolerance, according to Howard. "This is why we still maintain a favorable view toward extending duration and view the 10-year Treasury yields above 4% as an opportunity to add duration exposure," Alvarado wrote.

Persons: Charles Schwab, Cooper Howard, Howard, Jerome Powell, Wells Fargo, Luis Alvarado, He's, Alvarado, Michael Bloom Organizations: Federal, Investors, Treasury, Bloomberg Municipal Bond Index, Bloomberg U.S, Corporate, Treasury Bond Locations: Jackson Hole , Wyoming

☆ Arab towns in Israel strike in protest at funding freeze
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

JERUSALEM, Aug 21 (Reuters) - Arab local councils in Israel held a strike on Monday in protest at the finance minister's freeze earlier this month on hundreds of millions of shekels to their municipalities, a decision that has prompted accusations of racism. That the finance minister was casting Arabs as thieves and criminals was "ridiculous" and "false", the mayor of the Arab city of Umm al-Fahm, Samir Mahameed, told Israeli Army Radio. The ultra-nationalist Smotrich's move drew accusations of racism from Arab and Jewish lawmakers, including opposition leader Yair Lapid, as well as Arab mayors. Israeli Interior Minister Moshe Arbel urged Smotrich to release the funds and voiced support for the municipal strike. Videos circulating on social media showed police pushing some of the demonstrators, including Arab lawmaker Ayman Odeh.

Persons: Bezalel Smotrich, Benjamin Netanyahu's, Samir Mahameed, Netanyahu, Smotrich, Yair Lapid, Moshe Arbel, Ayman Odeh, Henriette Chacar, Maayan, Mark Heinrich Our Organizations: Finance, Israeli Army Radio, Police, Thomson Locations: Israel, Umm

☆ S.African municipalities' unpaid dues to Eskom rise to $3.3 bln-minister
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +2 min

JOHANNESBURG, Aug 20 (Reuters) - The amount of unpaid dues that South African municipalities owe debt-laden power company Eskom has risen to more than 63.2 billion rand ($3.33 billion) and is increasing exponentially, risking even longer power cuts around the country, the electricity minister said on Sunday. Kgosientsho Ramokgopa said the figure had risen by 4.7 billion rand since the start of this year. Eskom supplies power to 238 municipalities with the top 20 of them accounting for 77% or 48.9 billion rand of the total overdue debt, Ramokgopa said. The government is exploring ways to resolve the municipal debt crisis and is looking at funding from various means to upgrade the distribution infrastructure, Ramokgopa said, without giving any timeline. ($1 = 18.9890 rand)Reporting by Promit Mukherjee; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: Kgosientsho Ramokgopa, Ramokgopa, Eskom, Promit Mukherjee, Susan Fenton Organizations: Thomson Locations: JOHANNESBURG, South Africa

☆ Opinion | Live by RICO, Die by RICO
▼ + stars: | 2023-08-19 | by ( Maureen Dowd | ) www.nytimes.com time to read: +1 min

WASHINGTON — I first met Rudy Giuliani in 1986 when I was a Times reporter writing about corruption cases in New York. Gotham was awash in so much municipal sleeze, a detective joked that city employees were streaming into the F.B.I. Giuliani, the U.S. attorney for the Southern District of New York, got in a kerfuffle with Robert Morgenthau, the storied Manhattan district attorney who was a model for the D.A. in “Law & Order,” because Rudy considered the local prosecutor to be superfluous, so he wasn’t sharing information. Giuliani, 41, was already renowned as a scourge of organized crime.

Persons: WASHINGTON —, Rudy Giuliani, Giuliani, Robert Morgenthau, Rudy, Morgenthau Organizations: Southern, of Locations: New York, Gotham, U.S, of New York, Manhattan

☆ How Mexican narcos use remittances to wire U.S. drug profits home
▼ + stars: | 2023-08-18 | by ( Reuters Graphic | ) www.reuters.com time to read: +28 min

Now the news agency is the first to detail how Mexican drug gangs have harnessed legitimate remittance networks to repatriate their U.S. drug profits, and the factors that make this activity so difficult for authorities to detect and thwart. But authorities say Mexican drug cartels are piggybacking on this legal network to repatriate earnings from U.S. narcotics sales. A Reuters search of Mexican court records dating back to 2012 turned up no cases involving money laundering through remittances. Still, prosecutors in those cases mentioned several of those firms in court documents because they said the defendants had used their platforms to wire drug money. His office did not respond to requests for comment about law enforcement allegations that Mexican cartels are using remittances to launder drug money.

Persons: Money, ”, “, Andrés Manuel López Obrador, ” Jorge Godínez, ” Godínez, John Cornyn of, Chuck Grassley, ” Grassley, pocketing, John Horn, remitters ”, Horn, – Oscar Gustavo Perez, Bernal, Itzayana Guadalupe Perez, Susan Fiorella Ayala, Chavez –, Los, –, Jose Luis Rosales, Ocampo, Josue Gama, Perez, Thania Rosales, Dulce Rosales, – Ana Lilia Leal, Martinez, Ana Paola Banda, Maria de Lourdes Carbajal, Henri Watson, Carbajal, Sigue, Sangita Bricker, Transfast –, ” Sigue, Transfast, fanny, Juan de Dios Gámez, Rubén Rocha, BanCoppel, Banorte, hadn’t, El, López Obrador, ” López Obrador, Signos, Signos Vitales, Oquitoa, Enrique Cardenas, Tim Walz, Keith Ellison Organizations: Sinaloa Cartel, Reuters, Jalisco New, Mexican, WorldRemit, ., National Intelligence, narcos, U.S, Republican U.S, Treasury, U.S . Department of, U.S ., Financial Intelligence Unit, “, Federal Bureau of Prisons, Los Rosales, Kansas City, ”, Leal, IDT Corporation, IDT, Mastercard, Express Cellular, Prosecutors, IRS, Western Union, U.S . Department of Justice, Federal Trade Commission, ‘, Banco Azteca, Elektra, World Bank, Minnesota, Caborca Locations: CULIACÁN, Mexico, Mexican, Culiacán, Sinaloa, United States, Jalisco, U.S, Colorado, Union, Americas, London, John Cornyn of Texas, Iowa, Ohio, Colorado , Georgia , Ohio , Oklahoma , Texas, Virginia, Washington, Georgia, Atlanta, Columbus, Rosales, Nayarit, Michoacan, Missouri, Texas, Florida, New Jersey, Miami, , New Jersey, Ria, Kansas, California, New York, Western, Sinaloan, Costa Rica, BanCoppel, India, China, Mexico City, Minnesota, Arizona , Colorado , Florida , Illinois, New Mexico, Nevada, Oquitoa, Sonora

☆ America’s richest 10% are responsible for 40% of its planet-heating pollution, new report finds
▼ + stars: | 2023-08-17 | by ( Laura Paddison | ) edition.cnn.com time to read: +5 min

Robert Alexander/Getty ImagesTo do this, the researchers analyzed huge datasets spanning 30 years to connect financial transactions to carbon pollution. They found the wealthiest 10% in the US, households making more than about $178,000, were responsible for 40% of the nation’s human-caused, planet-heating pollution. But a household making money from the hospital industry would need to bring in $11 million to produce the same amount of planet-heating pollution. Identifying the main actors behind the climate crisis is vital for governments to develop policies that cut planet-heating pollution in a fair way, he added. “At the moment, the way the economy works is that it takes money and turns it into climate pollution that is destabilizing life on Earth,” Nicholas said.

Persons: CNN —, you’ve, it’s, ”, Jared Starr, Robert Alexander, ” Starr, Starr, Kimberly Nicholas, Mark Paul, ” Nicholas Organizations: CNN, University of Massachusetts Amherst, Santa, Santa Fe Municipal Airport, Lund University, Rutgers University, Oxfam, “ Locations: Santa Fe, Santa Fe , New Mexico, Sweden

Yields on one-year real estate bonds rated AA- have widened 220 bps in the past month, data from Chinabond shows. That divergence reflects investors' expectations that Beijing will support LGFVs in order to minimise financial contagion, despite rising delinquencies among developers. Yields on LGFV bonds issued in August averaged around 3.9%, the lowest seen this year, according to data provider Dealing Matrix(DM). The chorus of economists calling for China to support LGFVs as part of measures to shore up the economy has grown. Chi Lo, Hong Kong-based senior economist at BNP Paribas Asset Management, said Beijing needs to refinance LGFV debt over the next three to five years to prevent the system from imploding.

Persons: Aly, Zhu Yangmo, LGFVs, Zhu, Chi Lo, Li Gu, Samuel Shen, Tom Westbrook, Vidya Ranganathan, Kim Coghill Organizations: REUTERS, Rights, China Central Depository, Asset Management, Garden Holdings, HK, China International Capital Corp, Tianjin Infrastructure Investment Group, AAA, China, Thomson Locations: Shanghai, China, Rights SHANGHAI, SINGAPORE, Hainan, Beijing, Tianjin, Hong Kong, imploding, Singapore

☆ Yellowknife, Northwest Territories: The entire capital city has been ordered to evacuate as hundreds of wildfires scorch the region, officials say
▼ + stars: | 2023-08-16 | by ( Mitchell Mccluskey Aya Elamroussi | Mitchell Mccluskey | Aya Elamroussi | ) edition.cnn.com time to read: +7 min

CNN —Hundreds of wildfires burning in Canada’s Northwest Territories have prompted emergency declarations and the evacuation of the capital city of Yellowknife by road and air. Other residents have until noon on Friday, August 18, 2023 to evacuate,” Northwest Territories officials said in a news release Wednesday. Those unable to leave by vehicle can register for an air evacuation, officials said. It is anticipated the fire will reach Hay River this evening,” Northwest Territories Fire said in a Facebook update Wednesday evening. US under air quality alertThe fires burning in Canada have once again led to harmful air quality in the US, with the Minnesota Pollution Control issuing an air quality alert for Thursday and Friday.

Persons: ” Premier Caroline Cochrane, Kam, Grace Lake, ” Cochrane, ” Nadia Byrne, she’s, Byrne, ”, “, Shane Thompson, Thompson, “ Crews, Edison, Mason Bruneau, Jason Franson, Pat Kane, National Defense Bill Blair, ” Blair, Justin Trudeau, Cochrane, We’ve, Premier Caroline Cochrane, ” Trudeau Organizations: CNN, ” Premier, Engle Business, ” Northwest, ” Municipal, Territories Fire, Territories, Canadian Press, Northwest, Minnesota Pollution Control, Minnesota, National Weather Service, Minnesota -, Reuters, National Defense, Canadian Armed Forces, Canadian, Premier Locations: Canada’s Northwest Territories, Yellowknife, Alberta, Yukon, Northwest Territories, Dettah, Engle, ”, ” Northwest Territories, N’dilo, Hay, Canadian, St, Albert , Alberta, South, Grande Prairie, Canada, Minnesota, Minnesota - Canadian, Twin Cities, –

☆ Brazil's Lula discussed with Biden climate change, job creation initiative
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

Brazil's President Luiz Inacio Lula da Silva speaks during the launch ceremony of Growth Acceleration Program (PAC) at Rio de Janeiro's Municipal Theater, Brazil, August 11, 2023. REUTERS/Ricardo Moraes/File Photo Acquire Licensing RightsBRASILIA, Aug 16 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Wednesday he discussed with U.S. President Joe Biden efforts to fight climate change, as well as the outcome of a summit of rainforest nations held in Brazil last week. In a post on social media platform X, formerly known as Twitter, Lula said he and Biden spoke by phone and also discussed a joint initiative between the countries to create jobs that should be launched soon. The presidents discussed "ongoing efforts to help mobilize up to $1 billion to support the restoration of degraded lands in Brazil and the Amazon region." Reporting by Lisandra Paraguassu; Writing by Peter Frontini; Editing by Chris Reese and Brendan O'BoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Luiz Inacio Lula da Silva, Ricardo Moraes, Joe Biden, Lula, Biden, Lisandra Paraguassu, Peter Frontini, Chris Reese, Brendan O'Boyle Organizations: Rio de, REUTERS, Rights, U.S, Twitter, White House, U.S ., Amazon Fund, Thomson Locations: Rio, Brazil, Rights BRASILIA, Venezuela, Haiti

☆ How much worse can China's economic slowdown get?
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +4 min

HONG KONG, Aug 15 (Reuters) - China's economic activity data for July, including retail sales, industrial output and investment failed to match expectations, fuelling concern over a deeper, longer-lasting slowdown in growth. THE DEMISE OF CHINA'S GROWTH HAS BEEN MISTAKENLY FORECAST BEFORE. Alarm bells over growth rang during the global financial crisis in 2008-09 and during a capital outflow scare in 2015. If it persists, deflation could exacerbate the economic slowdown and deepen debt problems. There is also uncertainty about China's appetite for large fiscal stimulus, given the high levels of municipal debt.

Persons: Marius Zaharia, Robert Birsel Organizations: Communist Party, Thomson Locations: HONG KONG, China, West, United States, Japan, outflows

☆ The West’s ‘see no evil’ approach to Serbia’s Vucic is destabilizing the Balkans
▼ + stars: | 2023-08-14 | by ( Christian Edwards | ) edition.cnn.com time to read: +20 min

The result is that, despite Serbia’s professed hopes to join the EU, Vucic has continued to walk a tightrope between Moscow and western powers. A Pristina government official told CNN that they did not want to “surrender” official government buildings to protesters. A decade on, these municipalities have not been created, leaving disputes to fester over the degree of autonomy for Kosovo Serbs. After such episodes, Joseph told CNN that the “see no evil” approach to Vucic’s regime may be starting to crack. “The situation is clear who the bully of the Balkans still is,” Meliza Haradinaj, Kosovo’s former foreign minister, told CNN.

Persons: Moscow’s, Aleksandar Vucic, Vladimir Putin, Daniel Mihailescu, ” Jasmin Mujanovic, Vucic, “, Mujanovic, Alicia Kearns, ”, –, Serbia's Aleksandar Vucic, Albin Kurti, Serbia’s, you’ll, Kearns, wouldn’t, Putin, Viktor, Orban, ” Majda, you’re, Quint, ” Kurti, Kurti, Edward Joseph, Laura Hasani, He’s, Shqiprim Arifi, Arifi, Ben Kilb, ” Dusan, Milorad Dodik, Oliver Bunic, Boris Grdanoski, ” Joseph, Viktor Oban, Joseph, Biden, Aleksandar Vulin, ” “ He’s, ‘ we’re, ’ He’s, I’ve, ” Vucic, Meliza Organizations: CNN, European Union, Putin, Belgrade, Getty, Serbian Progressive Party, SNS, NATO, National Security, United Nations, Kosovo's, EU, Anadolu Agency, Gazprom, Serbian, European Council, Foreign Relations, ”, US, Kosovo Serbs, Kosovo’s, Johns Hopkins University, …, Kosovo Serb, Reuters, British, Kosovo, Kosovar Business Alliance, Kosovar, Serbs, “ Association of, Bloomberg, ASM, Russian, AP, Serbia ”, KFOR, NATO’s Kosovo Force, Red Star, Red Star Belgrade soccer Locations: Russia, Ukraine, United States, Serbia, Europe, Belgrade, West, Kosovo, Kosovo’s, Kosovar, AFP, Russian, Balkan, Western Balkans, British, United, EU, Brussels, Belgium, Moscow, ” Kosovo, Serbs, France, Germany, Italy, Balkans, Pristina, … Serbia, Zvecan, Serbian, Presevo, Albanian, Leposavic, Republika Srpska, ” Republika Srpska, Bosnia, Herzegovina, Dayton, Banja Luka, Kurti, Ohrid, North Macedonia, Republic of Serbia, appeasing Serbia

☆ Cruise vehicles cause weekend traffic jam one day after California approves 24-7 robotaxi service
▼ + stars: | 2023-08-14 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

In an aerial view, Chevrolet Cruise autonomous vehicles sit parked in a staging area on June 08, 2023 in San Francisco, California. On Thursday, California regulators voted to approve round-the-clock robotaxi service in San Francisco from two rival companies: Waymo and Cruise. By Friday night, a group of Cruise vehicles had stopped short in the city's North Beach neighborhood, flashing hazard lights and causing a traffic backup, according to reports. "There's over 10,000 human ride-hail drivers in San Francisco, potentially much more than that, depending on how you count it," Vogt said on the call. So it does not make a very high number to generate significant revenue in a city like San Francisco.

Persons: Cruise, Waymo, Tekedra Mawakana, Chris Ludwick, We've, Ludwick, Kyle Vogt, Vogt Organizations: Chevrolet Cruise, California's Public Utilities Commission, Google, Cruise, General Motors, CNBC Locations: San Francisco , California, Autonomous, San Francisco, California, Cruise, Beach, U.S, Vallejo, North Beach

☆ Russia cleans up after Typhoon Khanun floods thousands of homes
▼ + stars: | 2023-08-13 | by ( ) www.reuters.com time to read: +1 min

Aug 13 (Reuters) - Russia sent a task force to oversee cleanup of parts of the country's Far East on Sunday after Typhoon Khanun passed through the Primorye region, the emergencies ministry in Moscow said. Russia's TASS news agency quoted the ministry as saying the number of flooded homes stood at 4,368 while 5,654 adjoining plots and 7 apartment buildings also were flooded. It said most of the affected homes were in the cities of Ussuriysk and Spassk-Dalny, and in the Oktyabrsky municipal district, in the region of Primorye, where the port of Vladivostok is the administrative center. The ministry said in its Telegram channel that the task force would "coordinate the work to eliminate the consequences of the flood." It added there were no reports of casualties and that it had avoided more serious damage by sending units in early.

Persons: Khanun, Sandra Maler Organizations: Russia's TASS, TASS, Reuters, Thomson Locations: Russia, Moscow, Ussuriysk, Oktyabrsky, Primorye, Vladivostok

That is by far the most ever spent on clean energy in a year. Solar and Wind Power Have Taken Off Electricity generation per year, in terawatt hours China 600 TWh 500 Solar Wind U.S. China 400 E.U. It would shred regulations designed to curb greenhouse gases, dismantle nearly every federal clean energy program and boost the production of fossil fuels. 1 2 3 4 5 Even Tulsa, with its strong links to oil and gas, is embracing clean energy. “But we also understand that energy is energy, whether it is generated by wind, steam or whatever it might be.”Around the country, clean energy is taking root in unlikely locales.

Persons: ”, Fatih Birol, Al Gore, Crews, Francis Energy, Dewey, Bartlett Jr, “, J.W, Peters, Mr, Lazard, Gregory Nemet, —, Biden, Tesla, Giovanni Bertolino, Jon Creyts, Steve Uerling’s, Uerling, Cathy Zoi, It’s, Mary Barra, ’, Barra Organizations: Buses, Port, International Energy Agency, India India, Energy, The New York Times, Heritage Foundation, Republican, Ford, University of Tulsa’s School of Petroleum Engineering, “ Oil, Drillers, Navistar, Public Service Company of Oklahoma, Francis, Solar Power, U.S . Steel, Gas, University of Wisconsin -, Panasonic, United, European Union, United States ’, General Motors, RMI, Ford Fusion, Tesla, Postal Service, Amazon, Peterbilt, Companies, Francis Energy, BMW Group, Honda, Hyundai, Kia, Benz Group Locations: Pittsburgh, Milwaukee, Port of Los Angeles, Houston, Europe, United States, America, China, Britain, terawatt, India, U.S, States, Beijing, London, Tokyo, Washington, Oslo, Dubai, Tulsa, Okla, Italian, Oklahoma, Oklahoma City, Texas, Galveston, In Arkansas, Republican, University of Wisconsin - Madison, Georgia, Korean, Nevada, tailpipes, California, New York, San Francisco, Canada, South Korea, Russia, Ukraine, Steve Uerling’s Tulsa, E.U, G.M

☆ San Francisco moves to center of robotaxi universe after California agency vote
▼ + stars: | 2023-08-11 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +6 min

Cruise and Waymo have been running experimental services limited by times and geographic areas within San Francisco. The approval “marks the true beginning of our commercial operations in San Francisco,” said Tekedra Mawakana, Waymo co-CEO, in a prepared statement. San Francisco is important as both a symbolic hub of tech and, with hundreds of AVs already in operation, the largest test lab for the experimental cars. The vehicles, with empty driver seats and self-turning steering wheels, have become a common sight around San Francisco. Commissioner Genevieve Shiroma advocated for a delayed vote noting the volume of public comment and her lingering concerns following evidence that the vehicles have obstructed emergency vehicles in San Francisco.

Persons: Heather Somerville, Waymo, Motors ’, John Reynolds, AVs, Cruise, ”, Tekedra Mawakana, Prashanthi Raman, Uber, Genevieve Shiroma, Greg Bensinger, Jamie Freed, Diane Craft Organizations: General Motors Corp, REUTERS, FRANCISCO, Motors, California Public Utilities Commission, Transportation, Cruise, Locals, San Francisco Municipal Transportation Agency, Technologists, Thomson Locations: San Francisco, California, U.S, San Francisco's, Francisco

☆ Flying taxi maker Archer settles Boeing Wisk lawsuits, shares jump
▼ + stars: | 2023-08-11 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Carlos Barria/File PhotoAug 10 (Reuters) - Air taxi maker Archer Aviation (ACHR.N) has reached an agreement with Boeing (BA.N) and its Wisk air taxi unit to settle litigation and collaborate on autonomous technology, the companies said on Thursday. In a joint statement with Boeing and Wisk, Archer said it "has agreed to make Wisk its exclusive provider of autonomy technology for future variants of Archer’s aircraft." Boeing said it is making an investment in Archer "that will support the integration of Wisk’s autonomous technology in future variants of Archer’s aircraft." Archer counter sued Wisk in 2021 "for its false and malicious extra-judicial smear campaign" and Boeing in 2022. Archer will issue warrants to Wisk for up to 13.2 million shares as part of the settlement and autonomy agreement.

Persons: Carlos Barria, Archer's, Archer, Wisk, Larry Page's Kitty, carmaker Stellantis, David Shepardson, Matthew Lewis, Lisa Shumaker Organizations: Archer Aviation, Salinas Municipal Airport, REUTERS, Air, Boeing, United Airlines, ARK Investment Management, Federal Aviation Administration, Google, Larry Page's Kitty Hawk Corp, Chrysler, U.S ., Airlines, Thomson Locations: Salinas, Salinas , California, U.S, Washington

☆ Regulators give green light to driverless taxis in San Francisco
▼ + stars: | 2023-08-11 | by ( Nadia Bidarian | ) edition.cnn.com time to read: +6 min

San Francisco first responders, city transportation leaders and local activists are among those who shared concerns about the technology. “Today’s permit marks the true beginning of our commercial operations in San Francisco,” said Tekedra Mawakana, co-CEO of Waymo, in a press release. Until Thursday’s vote, Cruise and Waymo could offer only limited service to San Francisco residents. The San Francisco Police Officers Association, San Francisco Deputy Sheriffs’ Association and the San Francisco Fire Fighters Local 798 all wrote letters to the CPUC in the week leading up to the originally scheduled vote on June 29. 2022 was the worst year on record for traffic fatalities in San Francisco since 2014, according to city data.

Persons: Cruise, “, ”, Tekedra Mawakana, Drew Pusateri, General Motors, Matthew Sutter, Justin Sullivan, Critics, Tracy McCray, Jeanine Nicholson, ” Nicholson, Waymo, Genevieve Shiroma, ” Shiroma Organizations: CNN, Cruise, San Francisco, California Public Utilities Commission, Waymo, General, Francisco, San, San Francisco Police, Association, Sheriffs ’ Association, San Francisco Fire Fighters, San Francisco Fire Department, San Francisco Municipal Transportation Agency Locations: California, San Francisco, San, Waymo, San Francisco , California, “

☆ California agency to vote on San Francisco robotaxi expansion amid heavy opposition
▼ + stars: | 2023-08-10 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +3 min

A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company's headquarters in San Francisco where it does most of its testing, in California, U.S., September 26, 2018. REUTERS/Heather Somerville/File PhotoSAN FRANCISCO, Aug 10 (Reuters) - Amid strenuous pushback from San Francisco officials and many residents, a California state agency is set to vote on Thursday on a proposal to allow the city to be blanketed in self-driving taxis at all hours. But the vote at the meeting that begins at 11 a.m. PDT (1800 GMT) comes amid vigorous opposition from transportation and safety agencies in San Francisco. The CPUC has twice delayed the vote, in part because of the mounting opposition. Outfitted with spinning sensors, Waymo and Cruise vehicles are an arresting sight around San Francisco, particularly to visitors unaccustomed to cars with no human driver behind the wheel.

Persons: Heather Somerville, Cruise, Waymo, Greg Bensinger, Jamie Freed Organizations: General Motors Corp, REUTERS, FRANCISCO, San Francisco, Motors, California Public Utilities Commission, San Francisco Municipal Transportation Agency, Thomson Locations: San Francisco, California, U.S, San

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