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☆ China's economy looks like a mess — but some sectors are quietly doing well in its '2-speed economy'
▼ + stars: | 2024-02-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

Meanwhile, its financial markets are bleeding, the property market has gone up in smoke, local government debt appears alarming, and foreign investors are exiting in droves. Real estate — which was a huge part of China's economy — has been hit badly, he said. AdvertisementTravel has picked up after years of pandemic lockdownServices is another pillar of China's economy that Beijing has been trying to build up. AdvertisementThis is in part because new growth industries are not able to take the place of real estate — yet. Because the property market accounts for one-quarter of China's GDP and more than two-thirds of household wealth, its overall drag on China's economy is much greater than whatever is doing well right now.

Persons: —, Rory Green, GlobalData.TS Lombard, AllianceBernstein, John Lin, Lin, Donald Trump's, Louise Loo, Wood Mackenzie, AllianceBerstein's Lin, Nomura, Loo Organizations: Service, Business, Bloomberg TV, Oxford Economics, Nomura, Oxford Locations: China, GlobalData.TS, Real, COVID, Beijing, Europe, Taiwan, South Korea

☆ NASA explains how it would alert the public of an apocalyptic asteroid strike
▼ + stars: | 2024-02-17 | by ( Ellyn Lapointe | ) www.businessinsider.com time to read: +6 min

In the event of an impending hazardous asteroid strike, NASA already has its plan in place to alert the public. NASA’s Planetary Defense Coordination Office is tasked with finding, tracking, and assessing the risk associated with potentially hazardous asteroids in our solar system. To do that, NASA works with a global coalition of astronomers called the International Asteroid Warning Network (IAWN). There are about 2,300 known potentially hazardous asteroids out there, and roughly 153 of them are larger than 0.6 miles across. If Bennu does head toward Earth, NASA has a few tricks up its sleeve to defend our planet.

Persons: —, ROGER HARRIS, ”, Lindley Johnson, ” Johnson, IAWN, Johnson, MARK GARLICK, NASA wouldn’t, they’re Organizations: NASA, Service, Defense, Office, Planetary Defense, Warning, White, United Nations Office, Outer Space Affairs, Minor Planet

☆ Wife of Tesla employee who died in what may have been the first 'full self-driving' crash said she and her husband were 'guinea pigs'
▼ + stars: | 2024-02-14 | by ( Katherine Tangalakis-Lippert | Hannah Getahun | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. If what Rossiter said is true, the incident — which Tesla has so far refused to acknowledge publicly — would be the first known fatality linked to the car company's full self-driving technology. Bass and representatives for Tesla did not immediately respond to a request for comment from Business Insider. Tesla's disclaimer for its current self-driving technology reads: "Autopilot, Enhanced Autopilot, and Full Self-Driving Capability are intended for use with a fully attentive driver, who has their hands on the wheel and is prepared to take over at any moment. However, the Full Self-Driving technology — meant to maneuver Tesla vehicles through nearly any scenario — has not been definitively tied to any deaths.

Persons: —, Hans von Ohain, Tesla, Erik Rossiter, Ohain's, Ohain, Rossiter, Robert Madden, Madden, Nora Bass, Hans, Musk, Bass Organizations: Service, The Washington Post, Business, Patrol, San Locations: Colorado, The, San Francisco, Oakland

☆ Japan's 'Big Whale' submarines add another weapon to bottle up China's navy
▼ + stars: | 2024-02-10 | by ( Ben Brimelow | ) www.businessinsider.com time to read: +9 min

Named, JS Raigei (“Thunder Whale” in Japanese), the diesel-electric attack sub is the fourth boat of the Taigei-class , which translates to “big whale.”Its launch comes almost exactly one year after the launch of the third Taigei-class sub, JS Jingei (or “Swift Whale”). With a building time of about two years each, Japan has launched a new Taigei-class sub every year since 2020. China’s current sub fleet, numbering some 59 boats, includes approximately 10 improved Kilo-class , 12 Type 039-class , and 21 Type 039A-class diesel-electric attack subs. Japan is building a larger submarine fleet but it is still only about a third the size of China's. AdvertisementJapan has so far launched four Taigei-class submarines since 2018; JS Taigei, JS Hakugei, JS Jingei, and JS Raigei.

Persons: —, JS, Japan’s, ”, Li Organizations: Service, Kawasaki Heavy Industries, JS Raigei, Jingei, Self, Defense Force, AIP, JS Ōryū, JS Tōryū, JS Taigei, US Navy, Center for Strategic, International Studies, JS Hakugei, JS Jingei Locations: Japan, Kobe, Soviet Union, Russia, China, Beijing, Taiwan, East, South China, Miyako Strait, Philippines, Australia, South

☆ Can Germany’s sputtering economy be revived in 2024?
▼ + stars: | 2024-02-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +11 min

Europe’s biggest economy shrank last year for the first time since the onset of the Covid-19 pandemic. And the outlook isn’t much brighter: the International Monetary Fund predicts that Germany will be the slowest-growing major economy in 2024, eking out an increase of just 0.5%. “Germany needs a fundamental economic transformation,” Marcel Fratzcher, president of the German Institute for Economic Research in Berlin, told CNN. Carsten Koall/Getty ImagesHomegrown troublesAlongside an external environment that has become more hostile to Germany’s outward-facing economy, the country’s internal political climate has worsened. Businesses such as these, which can find new markets and applications for their know-how, may hold the key to reviving Germany’s moribund economy.

Persons: What’s, ” Marcel Fratzcher, ”, Carsten Brzeski, Jens Schlueter, Constanze Stelzenmuller, Christian Lindner, Olaf Scholz, Robert Habeck, Carsten Koall, Michael Probst, Karl Haeusgen, ” Sebastian Shukla, Chris Stern Organizations: London CNN — Trains, Lufthansa, International Monetary Fund, European Union, European Commission, German Institute for Economic Research, CNN, ING, Brookings Institution, Volkswagen, Biden, Free Democratic Party, Social Democratic Party and, Green Party, Deutsche, LinkedIn, Investors, SAP, chipmaker Infineon, Intel, MAN Energy Solutions, Germany’s Machinery, Equipment Manufacturers Association Locations: Europe’s, Germany, Ukraine, Berlin, Europe, China, Zwickau, United States, Russia, “, Japan, masse, Frankfurt, ”, Hamburg, Jungheinrich, Augsburg, Munich, Esbjerg, Denmark

☆ Fluence CEO says energy storage leader has record backlog that will push it to profitability this year
▼ + stars: | 2024-02-09 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Energy storage leader Fluence is seeing strong demand from the power hungry utility sector and will become profitable this year, CEO Julian Nebreda told CNBC in an interview Friday. Nebreda said Fluence is preparing for "hypergrowth" as wind and solar play a growing role in the U.S. power grid. Fluence is the energy storage leader in the U.S., he said. The $25.6 million loss the company reported was 31% lower than its loss in the year-ago period. Founded in 2018 by Siemens and AES, Fluence went public in October 2021 at $28 a share, quickly touching $35 on its first day of trading.

Persons: Fluence, Julian Nebreda, Nebreda Organizations: Fluence, Siemens, AES Company, AES Alamitos Battery Energy Storage, Energy, CNBC, AES, Government Locations: Long Beach , California, U.S, Friday's, Qatar

☆ Electricity demand from data centers, AI and crypto could double in 2 years. How to play it
▼ + stars: | 2024-02-06 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

The firm pointed to recent data from the International Energy Agency, which forecasted that electricity consumption from data centers, artificial intelligence and the cryptocurrency sector could double by 2026. "The latest IEA electricity forecasts paint an even more alarming outlook for data center consumption," analyst Hiral Patel wrote in a Monday note. Barclays said it is looking at three investment areas that are a key part of the trend: data center operators, data center suppliers and data center grid infrastructure builders. After successfully using lithium-ion batteries at a Dublin data center , Microsoft wants to expand grid-interactive battery storage in other areas. That includes nine data centers in Ireland, which is a data center hotspot in Europe that's also under increased risk given its soaring electricity consumption, Barclays said.

Persons: Hiral Patel, Morgan Stanley's, Europe that's, Stifel Nicolaus, Eaton Organizations: Barclays, International Energy Agency, CNBC, Microsoft, Electricity, Constellation, Digital Realty Trust, Digital, European Union, Blackstone, Digital Realty, Devices, AMD, Tech Locations: Japan, U.S, Dublin, Ireland, Europe, European, Frankfurt, Paris, Virginia

☆ What the collapse of a company owing $300 billion means for the world
▼ + stars: | 2024-02-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +8 min

AdvertisementImportantly, since the court order was made in Hong Kong, it's also unclear if mainland authorities will recognize and comply with the order. However, the company owes about $300 billion — a big shortfall, and there's a clear order of priority when it comes to repayments. How will the Evergrande collapse impact sentiment in China's economy and markets? Notably, the stock market sell-off came before Evergrande's liquidation order. Hong Kong's Hang Seng index ended up slightly higher the day the court order was made.

Persons: —, Kyle Rodda, Rodda, Alvarez, Marsal, Evergrande, it's, Baker McKenzie, Daniel Margulies, Margulies, Andrew Collier Organizations: Service, Business, Hong Kong Stock Exchange, Reuters, Deloitte, CSI, Orient Capital Research Locations: Hong Kong, China, Beijing, Asia

☆ Ingenuity, the NASA Helicopter Flying Over Mars, Ends Its Mission
▼ + stars: | 2024-01-25 | by ( Kenneth Chang | ) www.nytimes.com time to read: +1 min

Ingenuity, the little Mars helicopter that could, can’t anymore. At least one rotor broke during the robotic flying machine’s most recent flight last week, NASA officials announced on Thursday. Ingenuity remains in contact with its companion, the Perseverance rover, which has been exploring a dried-up riverbed for signs of extinct Martian life. Ingenuity arrived on Mars in the undercarriage of the Perseverance rover in February 2021. “They can rely on what we’ve accomplished,” Theodore Tzanetos, the Ingenuity project manager, said in a news conference on Thursday evening.

Persons: ‘, ” Bill Nelson, ” Theodore Tzanetos, ” Organizations: NASA Locations: Mars

In frigid temperatures, it can take a half hour to warm the battery so it's ready to charge, Westlake said. Bansal, who has had her Tesla for only a week, didn't know about preconditioning the car before charging, but she does now. So she told the car she was going to the charging station and it was ready by the time she arrived and plugged in. The car, she said, will tell you where charging stations are and how much range you have left. Burney said she loses roughly 15% to 20% of her battery range in cold weather, but it gets dramatically worse in cold snaps like the one this week.

Persons: EVs, ”, Neil Dasgupta, “, Ann Arbor, Bansal's Tesla, Bansal, Bruce Westlake, Westlake, Tesla, Kim Burney's Tesla, Burney, Dasgupta Organizations: University of Michigan, University, Michigan, Bruce, Eastern Michigan Electric Vehicle Association Locations: PITTSFIELD, Mich, Chicago, Texas, Brook , Illinois, Ann Arbor , Michigan, Pittsfield Township , Michigan, Ann, Ann Arbor, Westlake

☆ China's property market is failing. These are the 3 new growth areas Beijing is focusing on to pull itself out of a tailspin.
▼ + stars: | 2024-01-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China's real-estate sector has been mired in a debt crisis for over two years with no signs of a strong recovery. Electric vehiclesThanks to government subsidies, China is already the world's largest market and producer of electric vehicles. Related storiesThe Chinese EV market is expected to continue growing 25% this year, although the growth is slower than the 36% the industry posted in 2023 as Beijing winds down its subsidies. In the last quarter of 2023, Chinese EV maker BYD overtook Tesla to become the world's largest seller of electric vehicles . Other Chinese EV brands with international expansion plans include Nio, Geely, and Zeekr.

Persons: Xi, Tesla, Ilaria, Bernstein, Wood Mackenzie Organizations: Service, Business, Eurasia Group, Center for Strategic, International Studies, South, Financial Times Locations: China, Beijing, Europe, Washington ,

☆ Will guilt-free long-haul flights ever be possible? Here’s what we know
▼ + stars: | 2023-12-04 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +13 min

Sustainable aviation fuel, or SAF, is a type of alternative jet fuel that can curb carbon emissions by up to 80%. The main reason for the slow adoption is that it’s still more expensive – between 1.5 to 6 times pricier than regular jet fuel. Boeing is not out of the race either, but doesn’t see a hydrogen long-haul plane as around the corner. On medium- and long-haul flights, we don’t see it as a direct source of propulsion until 2040. We would need to see magnitude-order changes [in batteries] for us to consider those for long-haul flights.

Persons: ”, Gary Crichlow, Gökçin Çınar, Ryan Faucett, Alexandre Doumenjou, Andreas Schäfer, Britten, “, Artemis, that’s, Boeing’s Faucett, “ You’re, Schäfer Organizations: CNN — Aviation, Boeing, “, Aviation Environment Federation, SAF, Airbus, University of Michigan, CNN, Virgin Atlantic, University College London, Cranfield Aerospace, Norman, Engineers, NASA, Critchlow Locations: London, Bangkok, New York, California, ZeroAvia

MP Materials (MP.N), Lynas Rare Earths (LYC.AX) and other Western rare earths companies have struggled at times to deploy it due to technical complexities and pollution concerns. "The existing rare earths refining process is a nightmare," said Isabel Barton, a mining and geological engineering professor at the University of Arizona. Fannon and several U.S. politicians have called for Western governments to create central rare earths processing hubs, a plan already being pursued by Canada. In Saskatchewan, government scientists are working to launch their own rare earths processing technology after attempts to buy Chinese technology sputtered in 2020. "These new sources for rare earths are going to be paramount if we're going to reach global net zero targets," said Steve Schoffstall of the Sprott Energy Transition Materials ETF (SETM.O), which holds shares in several rare earths companies.

Persons: Isabel Barton, Michael Schrider, Ucore, Luisa Moreno, REETec, Robert Fox, Frank Fannon, Mike Crabtree, Crabtree, Steve Schoffstall, Ernest Scheyder, Veronica Brown, Claudia Parsons Organizations: International Energy Agency, University of Arizona, U.S . Air Force, Pentagon, Defense Metals, U.S . Department of Energy's, U.S . Department of Energy's Idaho National Laboratory, Saskatchewan Research Council, SRC, Ucore, Reuters, Thomson Locations: ALEXANDRIA, Louisiana, China, United States, U.S, American, Alaska, of New Orleans, British Columbia, South Africa, Florida, Norway, Massachusetts, U.S . Department of Energy's Idaho, Wyoming, Canada, Saskatchewan

The world also said goodbye to former U.S. Secretary of State Henry Kissinger, who died Nov. 29. Political Cartoons View All 1277 ImagesAnother political figure who died this year was former U.S. first lady Rosalynn Carter, who died Nov. 19. Among the entertainers who left the world this year was singer Tina Turner, who died May 24. Here is a roll call of some influential figures who died in 2023 (cause of death cited for younger people, if available):___JANUARY___Fred White, 67. A Hall of Fame forward who helped the Chicago Blackhawks win the 1961 Stanley Cup Final.

Persons: Wagner, Yevgeny Prigozhin, Prigozhin, Vladimir Putin’s, Henry Kissinger, Rosalynn Carter, Jimmy Carter, Silvio Berlusconi, Dianne Feinstein, James Buckley, James Abourezk, Nigel Lawson, Pervez Musharraf, Sandra Day O’Connor, Li Keqiang, Martti Ahtisaari, United Nations Bill Richardson, Gov, Sheila Oliver, Theodoros Pangalos, Tina Turner, Ike Turner, Suzanne Somers, Matthew Perry, Raquel Welch, Richard Belzer, Chaim Topol, Jacklyn Zeman, Lance Reddick, Alan Arkin, Paul Reubens, David McCallum, Richard Roundtree, Tom Sizemore, Jimmy Buffett, Sinéad O’Connor, Rita Lee Jones, Burt Bacharach, David Crosby, Fito Olivares, Ryuichi Sakamoto, Astrud Gilberto, Coco Lee, Tony Bennett, Harry Belafonte, Cormac McCarthy, William Friedkin, Bob Barker, Jerry Springer, Louise Glück, Jeff Beck, Mary Quant, Kaija Saariaho, Lloyd Morrisett, Fred White, Maurice, Verdine White, Ken Block, Walter Cunningham, Fay Weldon, ” Jan, Russell Pearce, Charles Simic, Lynette “ Diamond ” Hardaway, Donald Trump, Diamond, Constantine, Jan, Tatjana Patitz, George Michael’s, Lisa Marie Presley, Elvis Presley, Robbie Knievel, Evel Knievel, Ray Cordeiro, Elmo, Cookie, Gina Lollobrigida, Chris Ford, Crosby, Stills, Nash, Young, Cindy Williams, Shirley, “ Laverne, Billy Packer, Sylvia Syms, Alex ”, Barrett Strong, Norman Whitfield, “ Papa, Rollin ’ Stone, Tom Verlaine, Patti Smith, Bobby Hull, Paco Rabanne, Harry Whittington, Dick Cheney, Hsing Yun, ”, San Jose ”, Carlos Saura, Spain’s, Hugh Hudson, Oscar, “ Greystroke, Hans Modrow, David Jude Jolicoeur, Huey “, ” Smith, Little Richard, Lloyd Price, “, Leiji Matsumoto, Yamato ”, Tim McCarver, Stella Stevens, Jerry Lewis’s, John Munch, Ahmed Qureia, Betty Boothroyd, Ricou Browning, Gill, Gérard Latortue, Fontaine, Barbara Everitt Bryant, Ryan ”, Kenzaburo Oe, Judy Heumann, Gary Rossington, Lynyrd Skynyrd, Georgina Beyer, Traute Lafrenz, Rose, Peterson Zah, Tevye, Robert Blake, Jiang Yanyong, Bud Grant, Dick Fosbury, Pat Schroeder, Gloria Bosman, Jacqueline Gold, Britain’s Ann Summers, John Wick ”, John Jenrette, Juana La, Willis Reed, Darcelle, Paul O’Grady, Lily Savage, Emperor ”, Hedda Kleinfeld Schachter, Margaret Thatcher, Ben Ferencz, Nuremberg, Elisabeth Kopp, Michael Lerner, Jack Lipnick, “ Barton Fink, Bugsy Calhoun, Anne Perry, Thomas Pitt, William Monk, Al Jaffee, magazine’s, Charles Stanley, Richard Riordan, Todd Haimes, Tony Awards, Barry Humphries, Tony, Dame Edna Everage, Len Goodman, Carolyn Bryant Donham, Emmett Till, LeRoy “ Lee ” Carhart, Larry “, ___ Gordon Lightfoot, Tori Bowie, Vida, Grace Bumbry, Rock ”, Ovelha, Denny Crum, Heather Armstrong, Bobbie Spencer, Rolf Harris, Kenneth Anger, Doyle Brunson, Jim Brown, Timothy Keller, Andy Rourke, Ray Stevenson, Thor ”, Ed Ames, George Maharis, Carroll Cooley, Miranda, John Beasley, Kaija, George Winston, Ipanema ”, Robert Hanssen, Richard Snyder, Simon & Schuster, Françoise Gilot, Pablo Picasso —, Pat Robertson, Theodore “ Ted ” Kaczynski, Roger Payne, Treat Williams, Glenda Jackson, Daniel Ellsberg, Richard Nixon, Big, George Frazier, Lee Sarokin, Rubin “, ” Carter, Winnie Ewing, Sheldon Harnick, Jerry Bock, “ Fiorello, John Goodenough, Peg Yorkin, Sue Johanson, Yan Mingfu, John Berylson, James Lewis, poisonings, Mikala Jones, André Watts, Jane Birkin, Kevin Mitnick, San Francisco ”, Frank Sinatra, Lady Gaga, Hugh “ Sonny ” Carter Jr, Jimmy, Randy Meisner, Herman, Angus Cloud, Fezco, ” O’Neill, ___, Mark Margolis, Hector Salamanca, Saul, Sixto Rodriguez, flamed, Robbie Robertson, Tom Jones, Magoo, Timbaland, Aaliyah, Missy Elliott, Clarence Avant, Quincy Jones, Bill Withers, Ada Deer, Jerry Moss, Herb Alpert, Alpert, Michael Parkinson, Muhammad Ali, Miss Piggy, Jiri Cerny, Betty Tyson, Richard Nixon’s, John Warnock, Ron Cephas Jones, Howard Hubbard, Samuel “ Joe ” Wurzelbacher, Joe, Barack Obama, Gil Brandt, Tom Landry, Tex Schramm, Bill Richardson, Steve Harwell, Shabtai Shavit, Jordan, Ian Wilmut, Dolly, Prince Mangosuthu Buthelezi, Roy Kidd, Eno Ichikawa, Michael McGrath, Fernando Botero, Giorgio Napolitano, Matteo Messina Denaro, Michael Gambon, Albus Dumbledore, Harry Potter ”, Mankombu Sambasivan, Saad Eddin Ibrahim, Hosni Mubarak, Tim Wakefield, Dick Butkus, Michael Chiarello, Michael Chiarello ”, Masters, Burt Young, Paulie, Sylvester Stallone, Hughes Van Ellis, Kevin Phillips, Louise Meriwether, Mark Goddard, Major Don West, Rudolph Isley, Isley, unblinking, Piper Laurie, Chrissy Snow, Bobby Charlton, Bishan Bedi, Richard Moll, Xi Jinping, Wu Zunyou, Chandler Bing, Ken Mattingly, Bob Knight, Frank Borman, Steve Norton, Don Walsh, Mariana Trench, Terry R, Taylor, Daisaku Ikeda, Herbie Hancock, Bobby Ussery, George “ Funky ” Brown, Joanna ”, Marty Krofft, Pufnstuf, Donny, Marie ”, Terry Venables, Tim Dorsey, Serge A, Frances Sternhagen, ” “, Charlie Munger, Warren Buffett, Berkshire Hathaway, Gerald Ford, Shane MacGowan, Bernard McGhee Organizations: Wagner Group, Russian, White House, U.S, Supreme, United Nations, Greek Foreign, Republican, Hong, Boston Celtics, NBA, NBC, CBS, Television, Fame, Chicago Blackhawks, ”, New, of Fame, Louis Cardinals, “, Palestinian, Israel, South Dakota Democrat, Arab, Arab American U.S, Britain’s, Commons, . Census Bureau, Alabama ”, Zealand, Navajo, Minnesota Vikings, People, Playboy, Capitol, Juana La Cubana, New York Knicks, Guinness, World Records, Hollywood, Treasury, Southern Baptist Convention, Los Angeles, Roundabout Theatre Company, Air Force, Harlem Globetrotters, Janeiro Games, baseball’s, Germany’s Bayreuth, NCAA, Hall of Famer, Redeemer Presbyterian Church, Legion, Ames, Phoenix, FBI, Simon &, Christian Broadcasting Network, Republican Party, Christian Coalition, Harvard, Feminist Majority Foundation, “ Little, Communist Party, Millwall, New York Philharmonic, San, Brigade, Wing, Eagles, HBO, of Indian Affairs, M, Police, Carpenters, Adobe Systems, Pro Football Hall of Fame, Dallas Cowboys, escapist, Democratic, Zulu, Eastern, AA, Broadway, Communist, U.S . Senate, Red Sox, Yankees, Boston, Chicago Bears, Major, Isley Brothers, New York Times, Manchester United, India, Indiana, Nevada — Resorts, Atlantic City —, Navy, Associated Press, Soka Gakkai, Kentucky Derby, Kool, The, European, Barcelona, Tottenham, City Locations: Russia, Ukraine, Bakhmut, Russian, U.S, Finnish, New Mexico, New Jersey, British, Greece, American, Hong Kong, Italian, America, New York, Spanish, catwalks, Texas, Taiwan, Pakistan, Afghanistan, San, New Orleans, Rosebud, Arab American, Haiti, “, African, Brooklyn, London, Los, Mississippi, United States, Rivers, Georgia, Savannah, Louisville, New York City, Irish, HBO’s “ Rome, Brazilian, Ipanema, Moscow, Virginia, Montana, Vietnam, Canada, Asia, Chicago, Hawaii, France, South Africa, Wisconsin, Los Angeles, Czech, Eastern Kentucky, Colombian, ”, California, Tulsa, Finland, China, Nevada, Atlantic City, Florida, Berkshire

☆ Japan's TDK Corp to manufacture iPhone battery cells in India - minister
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

A man takes a video inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Dec 4 (Reuters) - Japanese electronic parts maker TDK Corp (6762.T) will manufacture lithium ion (li-ion) battery cells for Apple (AAPL.O) iPhones in India, a minister said on Monday. loadingApple has been touting India as its next big growth driver as it looks to move some production away from China. Cells manufactured at the facility will be supplied to Apple's li-ion battery assembler Sunwoda Electronics, the report added. Apple and TDK Corp did not immediately reply to Reuters' request for comment.

Persons: Francis Mascarenhas, TDK, Information Technology Rajeev Chandrasekhar, Manvi, Varun Organizations: Apple, REUTERS, Rights, TDK Corp, Information Technology, Twitter, Business, Reuters, Thomson Locations: Mumbai, India, iPhones, China, Wistron, Haryana, Manvi Pant, Bengaluru

☆ US DFC considers $500 mln loan to Vietnamese EV maker VinFast
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

A Vinfast electric vehicle store is shown at one of the company's retail locations in San Diego, California, U.S.,October 20, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsHANOI, Dec 4 (Reuters) - The United States International Development Finance Corporation (DFC) has signed a letter of interest with electric vehicles maker VinFast to consider the Vietnamese company's application for a $500 million loan for expansion, VinFast said on Monday. The loan, which will be used to support VinFast's establishment of lithium-ion battery manufacturing facilities in Vietnam, is subject to a comprehensive review and approval process by DFC, the carmaker said in a statement. DFC said on X, formerly Twitter, that it had signed the letter of interest to support VinFast's lithium-ion battery facilities in Vietnam, but did not provide details. The project will be the first in a series of initiatives actively discussed by the two parties, VinFast said.

Persons: Mike Blake, VinFast, Phuong Nguyen, Kanupriya Kapoor Organizations: REUTERS, Rights, United States International Development Finance Corporation, Vietnam's, Nasdaq, Thomson Locations: San Diego , California, U.S, Rights HANOI, Vietnam, California, Southeast Asia

☆ Inside the WNBA's strategy to partner with companies like Deloitte and Google to propel the league — and how it'll leverage that growth in its next rights negotiations
▼ + stars: | 2023-12-04 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +7 min

She listened to her players and what they wanted from the league, including a higher salary cap, but knew she couldn't meet all of their needs. One partner, Deloitte, overhauled the WNBA's app, for example. The current rights deal for the WNBA, which is coming off its largest regular-season viewership in more than two decades, runs through 2025. The mid-season Commissioner's Cup is sponsored by league partner Coinbase. The streaming app WNBA League Pass also brought in viewership, as did deals with Meta and YouTube.

Persons: Cathy Engelbert's, Engelbert, It's, Coinbase, Ethan Miller, Engelbert's, Disney, Nielsen, Ion Organizations: WNBA, Business, Deloitte, Nike, Google, US Bank, Companies, NBA, YouTube, Disney, Team, Seattle Storm's, ESPN, ABC, Scripps Ion, CBS, Meta, Scripps Locations: Las Vegas

☆ 'Ruthless' landlords who crammed 22 men into a 2-bedroom apartment raking in more than $10,000 a month plead guilty after fire death
▼ + stars: | 2023-12-02 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

The landlords of a London flat that suffered a fire have pleaded guilty to criminal charges. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe landlords of an overcrowded London apartment that suffered a fire have pleaded guilty to criminal charges. In the overcrowded apartment, students, asylum seekers, and other vulnerable people were sleeping in bunk beds and on the floor, without heating or use of the washing machine, and sharing a single toilet. AdvertisementAnthony Iles, chair of the Tarling West Tenants and Residents Association, told the Guardian, that the couple were "ruthless landlords."

Persons: Mizanur Rahman, —, Sofina Begum, Aminur Rahman, Begum, Rahman, Anthony Iles, Brent Council, Jaydipkumar Rameshchandra Valand Organizations: Service, Guardian, Residents Association Locations: London, Bangladesh, Wembley

It’s still not clear which vehicles would be eligible for the full $7,500 tax credit under the new rules because the government has yet to publish any lists. But they are still years away from being able to produce an electric vehicle without materials and components from China. Sam Abuelsamid, a mobility analyst for Guidehouse Insights, expects many EVs now eligible for the full $7,500 U.S. tax credit will see that cut in half next year when the new regulations take effect. Getting the tax credit upfront — rather than waiting until filing tax returns next year — “will actually reduce your monthly payment, which is a major stumbling block for consumers,” he said. Adeyemo and other officials declined to say whether batteries from the Ford plant would qualify for tax credits.

Persons: —, Biden, Joe Biden's, It’s, Wally Adeyemo, David Turk, Adeyemo, Turk, John Bozzella, Sam Abuelsamid, EVs, Abuelsamid, — “, ”, Joe Manchin, Manchin, Janet Yellen, Ford, Tom Krisher Organizations: WASHINGTON, Treasury, Energy, EV, Administration, “, Motors, Hyundai, Ford, GM, Alliance for Automotive Innovation, Guidehouse, Democratic, Natural Resources Committee, Ford Motor Co, Amperex Technology, Associated Press Locations: U.S, China, United States, North Korea, Russia, Iran, North America, Michigan, Detroit

REUTERS/Rebecca Cook/File Photo/File Photo Acquire Licensing RightsWASHINGTON, Dec 1 (Reuters) - The Biden administration on Friday issued-long awaited guidance that will limit Chinese content in batteries eligible for electric vehicle tax credits starting next year. The FEOC rules come into effect in 2024 for completed batteries and 2025 for critical minerals used to produce them. Treasury said the few materials being exempted each account for less than 2% of the value of battery critical minerals. The rules are expected to further reduce the number of electric vehicles eligible for EV tax credits. Earlier this year, new battery and mineral sourcing requirements took effect with price and buyer income eligibility caps from Jan. 1.

Persons: Rebecca Cook, Biden, Joe Manchin, Manchin, David Shepardson, David Lawder, Chizu Organizations: Motors, Bolt, Orion Assembly, REUTERS, Rights, U.S, Treasury, Alliance, Automotive Innovation, Ford Motor, The Energy Department, Companies, Energy, Thomson Locations: Lake Orion , Michigan, U.S, China, Michigan, North Korea, Russia, Iran, North America, Washington

☆ ‘Teslas of the seas’ will take students to school in Sweden
▼ + stars: | 2023-11-30 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +6 min

The X Shore Pro, which is meant for commercial operations or coast guards, is based on the former and shares most of its specifications. The X Shore 1 costs upwards of €109,000 (about $119,000), but the more expensive models in the lineup start at €195,000 (about $213,000). According to Keisu, the experience of riding an X Shore boat is radically different to a traditional one. “The only difference is that we [X Shore] use our batteries also for propulsion, so we have much larger battery packs,” she says. However, technological constraints may be slowing down the electrification of boats, including small leisure boats such as those manufactured by X Shore.

Persons: that’s, Tesla, ”, Maria Niläng, we’re, X Shore, Jenny Keisu, X, Keisu, Timothy McCoy, McCoy, ” Brandon Taravella, “, ” Keisu Organizations: CNN, X Shore, Värmdö Archipelago, University of Michigan, University of New, UNESCO Locations: Stockholm, Sweden, Swedish, Värmdö, X, University of New Orleans, Norway

☆ Google DeepMind AI reveals potential for thousands of new materials
▼ + stars: | 2023-11-29 | by ( Martin Coulter | ) www.reuters.com time to read: +2 min

Google logo and AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Nov 29 (Reuters) - Google DeepMind has used artificial intelligence (AI) to predict the structure of more than 2 million new materials, a breakthrough it said could soon be used to improve real-world technologies. The discovery and synthesis of new materials can be a costly and time-consuming process. DeepMind’s AI was trained on data from the Materials Project, an international research group founded at the Lawrence Berkeley National Laboratory in 2011, made up of existing research of around 50,000 already-known materials. Having used AI to predict the stability of these new materials, DeepMind said it would now turn its focus to predicting how easily they can be synthesised in the lab.

Persons: Dado Ruvic, “ We're, ”, Ekin Dogus, Kristin Persson, DeepMind, Martin Coulter, Jan Harvey Organizations: REUTERS, Google, Materials, Lawrence Berkeley National Laboratory, Thomson

☆ Steve: The aurora-like light show you can help research
▼ + stars: | 2023-11-28 | by ( Jackie Wattles | ) edition.cnn.com time to read: +9 min

The purple-pink streak of light indicative of Steve is shown in this image captured by Canadian photographer Neil Zeller. “It can eventually migrate south … toward the equator side of aurora and form a Steve,” Lach said. A Steve will always appear alongside an aurora, Lach and Zeller said, but not all auroras include a Steve. The Steve phenomenon is most likely to be captured around the equinoxes in the spring and fall, according to Zeller and Lach. The photos contributed by members of the public constantly help scientists improve their understanding of these light shows, she said.

Persons: CNN —, It’s, Steve, Elizabeth MacDonald, MacDonald, “, ” MacDonald, Neil Zeller, ” Zeller, … we’d, I’d, Dr, Eric Donovan, Zeller, Donovan, Chris Ratzlaff, ” Ratzlaff, Steve —, —, Donna Lach, Lach, ” Lach, Steve Earth, “ It’s, Steve I’ve, ” Organizations: CNN, Northern Hemisphere, NASA’s Goddard Space Flight, Kilkenny, Facebook, NASA, University of Calgary, DreamWorks, SAR, “ Locations: United Kingdom, Calgary , Alberta, Alberta, Canadian, Canada’s Manitoba, Manitoba, Kp0, Wyoming, Utah, Turkey, Greece, Slovakia, China, Canada

☆ 3 reasons why electric cars will soon get a lot cheaper
▼ + stars: | 2023-11-23 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

Some automakers are slowing down EV production, saying electric vehicles are too expensive. Auto execs have pointed to high prices as a big reason why demand for electric cars has slumped this year. AdvertisementHere's three reasons why electric cars are getting more affordable. Cheaper battery packsBy far the most expensive part of any EV is the battery, and spiking battery prices have hit automakers hard. "You have to get to a certain scale to really start to make money on electric cars and for the costs to go down," Valdez Streaty said.

Persons: —, Kelley, Tesla, Goldman Sachs, EVs, David Browne, Patrick T, Fallon, Browne, Matthias Preindl, Stephanie Valdez Streaty, it's, Valdez Streaty, Elon, you've Organizations: Service, Ford, General Motors, EV, Atlas Public, EVs, Bloomberg, Department of Energy, Smart, Toyota, Manufacturers, ICE, Columbia University, Smith, Cox, Chicago Tribune, Getty Locations: China, Germany, Los Angeles

☆ Solid state batteries promise to radically change EVs. But they may not be the only answer
▼ + stars: | 2023-11-23 | by ( Manav Tanneeru | Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

Car companies including Stellantis, Hyundai and Volkswagen have also teamed up with firms working on solid state batteries. But solid state technology has its own challenges, and it’s not the only way automakers could achieve lighter, cheaper and faster charging electric vehicles. In a solid state battery, the electrolyte is, well, a solid. That solid electrolyte is one reason that solid state batteries might be safer than lithium-ion batteries. Ultimately, there probably will never be one battery technology used in all EVs, GM spokesperson Phil Lienert said.

Persons: it’s, William Kephart, Kephart, ”, Siyu Huang, Quantumscape, That’s what’s, Phil Lienert Organizations: CNN, Toyota, Stellantis, Hyundai, Volkswagen, P3, OneD, Sciences, GM

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