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BERLIN (AP) — German lawmakers on Friday approved cuts to fuel subsidies for farmers that prompted angry protests, along with a 2024 budget the government had to revamp after a court ruling blew a hole in its financial plans. Parliament's lower house voted in favor of the overhauled 476.8 billion ($516 billion) budget for Europe's biggest economy and legislation including measures to fill the gap, among them the subsidy cuts. The immediate result of the ruling was a 17 billion-euro hole in the 2024 budget. Coalition leaders said the government would abolish a car tax exemption for farming vehicles and tax breaks on diesel used in agriculture. Photos You Should See View All 45 ImagesThe legislation also provides for the tax on plane tickets to be increased.

Persons: Chancellor Olaf Scholz's Organizations: BERLIN, Ukraine, Coalition

☆ Farmers in Europe Step up Protests Against Rising Costs, Green Rules
▼ + stars: | 2024-01-31 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +4 min

Farmers say they are not being paid enough, are choked by taxes and green rules and face unfair competition from abroad. French farmers have already won several concessions, including the government dropping plans to gradually reduce subsidies on agricultural diesel. On Wednesday, European Commissioners proposed limiting agricultural imports from Ukraine and greater flexibility on rules on fallow land in a bid to quell protests. In Italy, farmers have blocked traffic with hundreds of tractors near motorway access points near Milan, in Tuscany and elsewhere in recent days. While a deal looks possible on fallow land, the question of talks on a major trade deal with the Mercosur group is more contentious.

Persons: Marco Trujillo, Philip Blenkinsop PARIS, Adelin Desmecht, Gerald Darmanin, Bruno, Coldiretti, Le Maire, Abdul Saboor, Jean, Stephane Brosse, Gus Trompiz, Dominique Vidalon, Benoit van Overstraeten, Geert de Clercq, Charlotte van, Phil Blenikinsop, Alvise Arminelli, Ingrid Melander, Ros Russell Organizations: EU, South, Farmers, Mercosur, French Finance, European Commission, South American, Charlotte van Campenhout Locations: BRUSSELS, Europe, Brussels, Belgian, France, Paris, Belgium, Zeebrugge, Ukraine, Mercosur, Italy, Milan, Tuscany, Bordeaux, Amsterdam

☆ Ecuador to Begin Cutting Fuel Subsidies in Q2
▼ + stars: | 2024-01-30 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

Noboa wants the measures to help finance his military offensive against criminal gangs, which he has designated as terrorist groups. "We agree with targeting subsidies," Noboa said in an interview with Ecuavisa, a local television channel. Subsidies will be removed gradually from gasoline, he said, adding that domestic gas and diesel will not be affected by the change. Last year Ecuador expected to allocate more than $2.6 billion of its budget to fuel subsidies. The government is looking for foreign investment to build a diesel refining system in Ecuador and improve the electrical grid to make eliminating the subsidies sustainable, Noboa said.

Persons: Alexandra Valencia, Daniel Noboa, Noboa, Ecuavisa, Oliver Griffin, Barbara Lewis Organizations: Alexandra Valencia QUITO, National Assembly, ITT Locations: Ecuador

TOKYO (AP) — Japanese transport officials raided a Toyota-affiliated plant Tuesday after the company admitted to cheating on engine testing, as Toyota Motor Corp. reported it sold over 11 million vehicles in 2023 to retain its status as the world’s top car manufacturer. In April, a whistleblower exposed that Daihatsu Motor Corp., which makes small cars and is 100% owned by Toyota, had been cheating on its testing for decades. In 2022, Hino Motors, a truck maker that’s also part of the Toyota group, said it had systematically falsified emissions data dating back as far as 2003. But production has been halted on some of the models, including the 10 models affected by the latest cheating. Sato has acknowledged Toyota group companies need better communication and education about the importance of complying with rules.

Persons: Akio Toyoda, ” Toyoda, Toyoda, Sakichi Toyoda, Kiichiro Toyoda, Akio’s, Koji Sato, that’s, Sato, Daisuke Uchida, ” Uchida, “, ” ___ Yuri Kageyama Organizations: TOKYO, Toyota, Toyota Motor Corp, Toyota Industries Corp, Lexus, Volkswagen AG, Reporters, Daihatsu Motor Corp, Hino Motors, Nikkei, Toyota Industries, Cruiser, General Motors Co, Pontiac, Keio University Locations: Hekinan, Aichi Prefecture, Japan, Nagoya, Tokyo, Europe, East, Africa, Asia, North America, United States, California

☆ Toyota is still No.1 but recalls and certification scandals add to list of problems
▼ + stars: | 2024-01-30 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

The Japanese manufacturer said Tuesday it had sold a record 11.2 million vehicles worldwide in 2023, including its Daihatsu and Hino lineups. By comparison, Volkswagen Group announced earlier this month that it had delivered 9.2 million vehicles last year, up 12% compared to 2022. Volkswagen later gained on the Japanese company, unseating Toyota in 2017. That compared with 104,000 battery-powered vehicles sold by Toyota, which has long lagged behind in the global EV race. The company, which is a leader of hybrid cars, sold 3.7 million electric vehicles total in 2023 when including hybrids.

Persons: Hong Kong CNN —, ” Toyota, Toyota, BYD, Warren Buffett, Tesla Organizations: Hong Kong CNN, Hong Kong CNN — Toyota, Volkswagen, Toyota, Daihatsu, Hino, Volkswagen Group, General Motors, Toyota Industries, Cruiser Locations: Hong Kong, Japan, United States, Europe, North America, China

TOKYO (AP) — Toyota chief Koji Sato apologized Monday to customers, suppliers and dealers for flawed testing at a group company, following a series of similar problems in recent years. The apology came a day before Chairman Akio Toyoda is to announce a “global vision” for the Toyota Motor Corp. group. The latest woes at Japan’s top automaker involve testing required for Japanese government approval at Toyota Industries Corp., which makes diesel engines. In 2022, Hino Motors, a truck maker that’s also part of the Toyota group, said it had systematically falsified emissions data dating back as far as 2003. They include the Land Cruiser and Hilux sport utility vehicles, according to Toyota.

Persons: —, Koji Sato, Akio Toyoda, ” Sato, ”, that’s, Sato, “, Yuri Kageyama Organizations: TOKYO, — Toyota, Toyota Motor Corp, Toyota Industries Corp, Toyota, “, Daihatsu Motor Corp, Hino Motors, Cruiser Locations: Tokyo, Japan, Europe, East, Africa, Asia, North America

☆ This city has the worst traffic in the U.S.—and it's not Los Angeles
▼ + stars: | 2024-01-29 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

Most agree that sitting in traffic is a massive waste of time, and often cite a frustrating commute to and from work as reason to resist returning to the office. In January, geolocation technology specialist TomTom released its annual Traffic Index for 2023. California is the only state that had two cities rank in the top 10: San Francisco and Los Angeles. The latter is notorious for its bad traffic but still came in way down at the No. 9 spot, while the Bay Area city landed in the top three.

Locations: California, Francisco, Los Angeles, Bay Area

☆ Toyota halts shipment of 10 models over diesel engine testing issues
▼ + stars: | 2024-01-29 | by ( ) edition.cnn.com time to read: +2 min

A special investigative committee found irregularities during horsepower output testing for the certification of three diesel engine models. Ten models use the affected engines globally, Toyota (TM) said, including the Hiace van, Fortuner SUV, Innova multi-purpose vehicle and Lexus-branded LX500D SUV. The company said it would take measures such as running new engine certification tests in the presence of regulators as needed. The company holds a near 25% stake in Toyota Industries, which is a key Toyota group company. Shares in Toyota Industries sank into negative territory shortly after the news and ended down 4%.

Persons: Koichi Ito Organizations: Toyota, Cruiser, Toyota Industries, Lexus, world’s, Daihatsu, Toyota Motor, Mar Locations: Tokyo, Aichi prefecture

A Toyota unit used software to measure horse power output that made “values appear smoother with less variation,” Toyota, the parent company, said in a statement. The vehicles “meet engine output standards,” and there is no need to stop using the engines or vehicles, the company said. The company named the affected models and engines, but did not say how many vehicles it would stop shipping. Still, Toyota decided to stop shipping the 10 models that use three diesel engines at issue. Then, it reported that Japan’s government was investigating Daihatsu, the subsidiary, for safety problems that dated back decades.

Organizations: Toyota, Daihatsu Locations: United States

BERLIN (AP) — A group of climate activists who infuriated many in Germany by gluing themselves to streets to block traffic said Monday that it will abandon the tactic and move on to holding what it calls “disobedient assemblies.”The Last Generation group frequently blocked roads in Berlin and other cities over the past two years, its best-known but far from its only tactic in a campaign of protests that also included spraying the capital's Brandenburg Gate with orange paint, among other things. And where we cannot be ignored,” the group said in a statement. Political Cartoons View All 253 ImagesAs well as that, the group said it will increasingly “directly confront” those it considers responsible for climate destruction, for instance by confronting politicians and other decision-makers in public and on camera. It will also “increasingly visit places of fossil destruction for our protest,” it added, pointing to past protests at airports, oil pipelines and an energy company. Last Generation's actions have been overshadowed recently by protests against Germany's far right and other demonstrations, including by farmers against cuts to their diesel subsidies.

Persons: “, Olaf Scholz, Germany's Organizations: BERLIN Locations: Germany, Berlin

☆ Elon Musk wants to sell more Teslas in Japan. Here's why that could be tricky.
▼ + stars: | 2024-01-28 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Read previewBack in 2010, Elon Musk predicted that Japan would become Tesla's largest market outside of the US. "There are some geographies where our market share is remarkably low, like Japan," Musk said in a fourth-quarter earnings call earlier this week. Akio Toyoda has been skeptical of the benefits of EV cars. Tomohiro Ohsumi/Getty ImagesThat hesitancy has also held back the development of charging infrastructure — there are only about 30,000 EV charging connectors in the whole country — and kept price tags higher. But Japanese carmakers do have some plans to boost their EV efforts.

Persons: —, Elon Musk, Musk, Tesla, Suzuki, Nissan Sakura, Tatsuo Yoshida, Akio Toyoda, Ohsumi Organizations: Service, Business, BMW, Toyota, Honda, Nissan, Bloomberg, Bloomberg Intelligence, New York Times Locations: Japan, Europe

MACEDONIA, Ohio (AP) — Environmental officials in Ohio were back on the scene Sunday of a fiery tanker truck crash, working to contain thousands of gallons (liters) of diesel fuel that spilled during the accident. The truck that crashed Saturday morning, killing the driver, was carrying about 7,500 gallons (28,390 liters) of diesel, according to the Ohio Environmental Protection Agency. A nearby creek briefly caught fire, and the agency worked to stop the spread of the fuel. Political Cartoons View All 253 ImagesThe truck landed on the northbound lanes of State Route 8 and exploded in flames. Fire departments responding to the scene found the driver of the tanker had died from injuries related to the crash.

Organizations: —, Ohio Environmental Protection Agency, Officials, Sheriff’s, Macedonia Police Department Locations: MACEDONIA, Ohio, Northfield Center Township

French farmers are putting pressure on the government to respond to their demands for better remuneration for their produce, less red tape and protection against cheap imports. French Interior Minister Gerald Darmanin held a security meeting Sunday before potential road blockades around Paris, his office said in a statement. Earlier Sunday, two climate activists hurled soup Sunday at the glass protecting the “Mona Lisa” and shouted slogans advocating for a sustainable food system. The Louvre employees could then be seen putting black panels in front of the Mona Lisa and asking visitors to evacuate the room. Angry French farmers have been using their tractors for days to set up road blockades and slow traffic across France.

Persons: Mona Lisa ”, Gerald Darmanin, Darmanin, Leonardo da, “, ”, Mona Lisa, Gabriel Attal, ” Attal Organizations: PARIS, Sunday, Louvre Museum, French, Farmers, Rural Coordination Locations: Paris, Garonne, ”, France, Indre

☆ Chinese stocks are starting to turn around. How to play it
▼ + stars: | 2024-01-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Chinese stocks ended the week with four straight days of gains — a rare upswing after a dismal start to the year. "Investing in China, you have to have an active strategy," he said, emphasizing the need to focus on industries that receive policy support. All three are listed on mainland Chinese stock exchanges. In the past six months, foreign investors have pulled around $30 billion from mainland Chinese A shares, the report said. Citi analysts also include adidas and Kone in their basket of European stocks with China exposure.

Persons: David Chao, Chao, Pan Gongsheng, Edward Chan, Schelling Xie, Xie, CRRC, —, Peter Alexander, Alexander, — CNBC's Michael Bloom Organizations: Asia Pacific, People's Bank of China, PBOC, . Federal Reserve, Financial Regulatory Administration, CNBC, HSBC, Hong, Citi, adidas, Kone Locations: Asia, Japan, Invesco, China, Beijing, Hong Kong, Shanghai, U.S

☆ Why does gas cost more in California?
▼ + stars: | 2024-01-27 | by ( Samantha Delouya | ) edition.cnn.com time to read: +5 min

It adds about 10 cents of additional cost per gallon of gas, said Borenstein. Yet, in the fall of 2022, California gas prices shot up to a record high of nearly $6.50 per gallon after multiple refineries suffered outages. The shrinking number of oil refineries in California is another reason there’s a growing gap between California and the rest of the country’s gas prices. Those 11 refineries produce 90% of California’s gas and diesel fuel, according to California’s energy department. But Borenstein has another theory for why the price of gas is so much higher in California.

Persons: That’s, Severin Borenstein, Borenstein, Ronald Reagan, ” Reagan, David Paul Morris, ”, “, Patrick De Haan, ” Borenstein Organizations: Los Angeles CNN —, AAA, University of California Berkeley’s Haas School of Business, California Air Resources Board, Gov, Carrell, Act, Bloomberg, Getty, American Lung Association, US Energy Information Administration, Drivers, Shell, Mobil Locations: United States, California, Golden, Angeles, Los Angeles, San Francisco , California, Hawaii, Texas, Oklahoma, Louisiana, “ California, Chevron

☆ GM, Honda begin U.S. fuel cell production in step toward replacing diesel
▼ + stars: | 2024-01-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

An employee assembles a fuel cell system in the module final assembly at Fuel Cell System Manufacturing LLC, GM and Honda's fuel cell joint venture in Brownstown, Michigan. BROWNSTOWN, Mich. – General Motors and Honda Motor have begun commercial production of hydrogen fuel cell systems in a step toward offering alternative zero-emissions solutions beyond battery-electric vehicles. The fuel cell systems are produced through a 50-50 joint venture between the automakers at an $85 million facility in suburban Detroit. The companies, which are marketing and selling products separately, are calling the "large-scale" production at the joint venture the first of its kind in the U.S. And now we can start to move it into these segments where before it wasn't really feasible," Charlie Freese, executive director of GM's "Hydrotec" fuel cell products, told CNBC during an event at the plant.

Persons: We're, Charlie Freese Organizations: Cell System Manufacturing, GM, –, Motors, Honda, Fuel Cell System, CNBC Locations: Brownstown , Michigan, BROWNSTOWN, Mich, Detroit, U.S

☆ From ‘Barbie’ to ‘Bob the Builder’: Mattel’s next big movie, and how Jennifer Lopez is involved
▼ + stars: | 2024-01-25 | by ( Elizabeth Wagmeister | ) edition.cnn.com time to read: +2 min

Now, CNN has learned that Mattel hopes to maintain that momentum with a cinematic adaptation of another kids’ character: Bob the Builder. An animated movie based on the long-running animated children’s series is in development, with Jennifer Lopez attached to executive produce and “In the Heights” star Anthony Ramos set to voice the beloved titular cartoon contractor. This new take on “Bob the Builder” will “celebrate the vibrant and colorful textures of the Caribbean Latin nations and their people.”Aside from voicing Bob the Builder, Ramos will also serve as a producer. In a statement, Ramos said that the movie will focus on friends working together and how love can help conquer any obstacle. The “Bob the Builder” television series ran in worldwide syndication for over a decade in the early aughts, and is known for its popular catchphrase, “Can we fix it?

Persons: “ Barbie, Mattel, Bob, Jennifer Lopez, Anthony Ramos, Roberto “ Bob ”, Ramos, Lopez, Elaine Goldsmith, Thomas, Benny Medina, . Abrams, Vin Diesel, “ Barney ”, Daniel Kaluuya, Polly, ”, Lena Dunham, Lily Collins, “, Matt Mason ”, Tom Hanks Organizations: CNN, Mattel, Getty, Nuyorican Productions, “, UNO Locations: Puerto Rico, Caribbean, American

☆ Icon of the Seas: Why Americans Are Obsessed With Big Cruise Ships
▼ + stars: | 2024-01-25 | by ( Henry Wismayer | ) www.businessinsider.com time to read: +17 min

Love them or loathe them, giant cruise ships are among the most remarkable success stories of the mass tourism age. Rechristened the Mardi Gras, the first Carnival cruise ship sailed out of Miami that March. Cruise ships like the Icon of the Seas will spend the majority of their trip at sea. Eight years later, cruise ships such as the Diamond Princess became early incubators for COVID-19. Cruise Market Watch forecasts there will be 360 cruise ships in service at the end of this year, comprising less than 1% of the global commercial fleet.

Persons: Ted Arison, Arison, Pieter De Boer, Costa, Diamond, Aaron Saunders, We've, Sue Bryant, Z, sass, Emma Le Teace, YouTuber, David Foster Wallace, Harper's, Sarah Knorr, Bryan Comer, Karla Hart, Hart, Saunders, it's, Henry Wismayer Organizations: Port, Passengers, Mardi Gras, Mardi, Gras, Cruise, Royal Caribbean, Costa Concordia, Cruise Lines International Association, Broadway, CivicScience, Royal, Virgin, Business, Transport & Environment, Getty, International Council, Global Cruise, Global Cruise Activist Network, Cruise Market, Royal Caribbean International, New York Times, National Geographic, Financial Times Locations: Port of Miami, Caribbean, Miami, The Port, Tuscany, Italy, Royal Caribbean, TikTok, Panama, Bahamas, Brussels, Netherlands, Douarnenez, Venice, Dubrovnik, Croatia, Amsterdam, Juneau , Alaska, Skagway , Alaska, CocoCay, London

Kess raised his price target to $47 from $36, suggesting 11% upside from Tuesday's close. His price target, cut to $276 from $311, implies roughly 10% downside from Tuesday's close. "We upgrade SUN to Buy and lift our [target price] to $65 following several cash flow accretive transactions," Dounis wrote. "The January 11th transactions drive ~25% of the target price increase; the NS Acquisition drives the remaining ~75% increase." NKLA mountain 2020-07-01 NKLA since 2020 Still, the analyst's $2 price target implies the stock could surge more than 200% from here.

Persons: Morgan Stanley, Daiwa, Jonathan Kees, Kess, — Michelle Fox, Jon Tower, Chipotle, Sarah Min, Gordon Haskett downgrades Uber, Gordon Haskett, Robert Mollins, Uber, Mollins, — Jesse Pound, Colin Bristow, Bristow, Michael Tyndall, Stellantis, Tyndall, — Sarah Min, Pierre Ferragu, Lisa Su, Ferragu, Sunoco, Spiro Dounis, Dounis, Baird, Nikola, Ben Kallo, NKLA, Kallo, it's, Jessica Reif Ehrlich, Morgan Stanley's Benjamin Swinburne, Swinburne, Goldman Sachs, Eric Sheridan, Erik Woodring, Woodring, Fred Imbert Organizations: CNBC, Big Tech, Wall Street, NewStreet Research, Verizon, Daiwa, Verizon Communications, VZ, Citi, Mexican, UBS downgrades, UBS, HSBC, AMD, Research, NuStar Energy, Zenith Energy, Energy, Netflix, Bank of America, Apple Apple, Edge, Apple Locations: Seattle, Biogen, Skyclarys, Stellantis, Europe, China

☆ As more tankers divert from Suez Canal, there's a 'sea change' in way Europe is buying crude
▼ + stars: | 2024-01-23 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Al HUDAYDAH, YEMEN - JULY 17: Yemen's replacement oil tanker Nautica floats over its arrival to Al Hudaydah port in the Red Sea on July 17, 2023 in Hudaydah, Yemen. (Photo by Mohammed Hamoud/Getty Images)Energy prices for Europe are expected to increase as more petroleum products and crude tankers are diverting away from the Rea Sea and Suez Canal. They would rather go around the Cape of Good Hope versus taking a chance through the Red Sea." LNG vessels travel faster than oil tankers because they are lighter and they can sail up to 21 knots versus the 12-13 knots for crude tankers. Before the Red Sea disruptions, a tanker from Jamnagar, India to Rotterdam, Netherlands would have taken 24 days.

Persons: Al, Mohammed Hamoud, Rea, Viktor Katona, Good Hope, It's, Katona Organizations: United Nations, Europe, U.S, Good Locations: Al HUDAYDAH, YEMEN, Al Hudaydah, Hudaydah, Yemen, Sana'a, Europe, Suez, Brazil, Africa's, Good, Israel, Jamnagar, India, Rotterdam, Netherlands, Basrah, Iraq, Milazzo, Sicily

☆ Manila’s traffic is so bad Coldplay sang about it
▼ + stars: | 2024-01-22 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +3 min

Online critics questioned why Marcos was spending public funds to attend a concert and criticized his lack of action in fixing mass transport. Liza Marcos/FacebookThe next night, Martin dedicated an impromptu song about it, singing, “There is only really one thing that remains. The traffic here in Manila is completely insane.”Manila topped the 2023 TomTom Traffic Index list of metro areas with the slowest travel time of almost 400 cities in 55 countries worldwide. The transport-focused tech company estimates that Manila’s average speed during rush hour is 19 kilometers per hour (11 miles per hour), and about 52% of its roads are congested. A 2-mile drive will take a week or two,” Martin added to the tune, as fans cheered in agreement.

Persons: CNN —, Chris Martin, Ferdinand Marcos Jr, Marcos, –, Marcos ’, Coldplay, concertgoers, “ We’ve, Liza Araneta, Liza Marcos, Martin, ” Martin, Jaime Bautista Organizations: CNN, Philippine, Department of Transport, Philippine News Agency Locations: Philippines, Philippine, Bulacan, Manila

☆ Prepping for America's Collapse: Inside an Off-the-Grid Utah Homestead
▼ + stars: | 2024-01-18 | by ( Evan Malmgren | ) www.businessinsider.com time to read: +17 min

The folks at Riverbed Ranch have answered these questions decisively, embracing a radical turn toward self-reliance and small-scale sustainability. He founded Riverbed Ranch after losing power during a winter storm. Gleason's wife, Colleen, said of Riverbed residents in a 2021 TV interview : "Most of them tend to be prepper types." AdvertisementGleason envisions Riverbed Ranch as a safe environment for families: "This is about the kids." "The American idea that we're going to go on forever is naive at best," Fisher told me.

Persons: Jesse Fisher's, Fisher, Philip Gleason, they'd, Gleason, Jesse Fisher, of Jesus Christ, Elon, Blonquist Gleason, " Gleason, Colleen, bristled, Priscilla Hart, Hart, you've, Sarah Vezzani, —, Vezzani, Lance Pope, Brittany Organizations: Apple Watch, of Jesus, dodgers, Fox News, Pew Research, Rockies Locations: Utah, Ukraine, Gaza, Idaho, Ogden , Utah, Ogden, Nebraska, America, Arizona, Santaquin , Utah

☆ Tensions With Iran Add to Pakistan's Economic Challenges
▼ + stars: | 2024-01-18 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +3 min

Pakistan conducted strikes inside Iran, targeting separatist Baloch militants two days after Tehran said it had attacked the bases of another group within Pakistani territory. It is undergoing a tough $3 billion International Monetary Fund (IMF) bailout programme that pulled it from the brink of default last summer. Pakistan's international bonds fell after its foreign ministry said it conducted strikes inside Iran on Thursday, two days after Tehran attacked the bases of another group within Pakistani territory. Earlier in the day, Pakistan's benchmark share index fell 1.6% after Pakistan said it conducted strikes inside Iran, before recovering some ground. Pakistan's economic ties with Iran, while not huge, are important for Islamabad as it struggles to supply its western- most regions in Balochistan with critical commodities, including fuel and electricity.

Persons: Aneel Salman, Salman, Pakistan's, Hasnain Malik, Ariba Shahid, Karin Strohecker, Amanda Cooper, Bernadette Baum Organizations: Baloch, Monetary Fund, Liquified Petroleum Gas, Islamabad Policy Research Institute, Pipeline Locations: KARACHI, LONDON, Pakistan, Iran, Tehran, Tradeweb, Islamabad, Balochistan, Afghanistan, Russia, India, Karachi, London

☆ Temo just raised $6.5 million to make small sailing boats electric. Check out the 19-slide pitch deck it used to secure the funds.
▼ + stars: | 2024-01-18 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

Arriving, you quickly and easily attach the motor to a dinghy or rowing boat to make a short but peaceful journey to the main sailing boat. That's the picture Temo cofounder Justine Perussel paints when describing her company's electric motor technology. Founded in 2018 in Vannes, France, Temo just raised 6 million euros, around $6.5 million, to make electric alternatives to combustion engines for small boats such as dinghies, sailboats, and rowing boats. "The electric motor market is moving very fast – it's booming," Perussel said. Small crafts are typically used to get to and from larger sailing boats or are rented for recreational use on lakes, Perussel said.

Persons: Justine Perussel, Temo, Perussel, – Organizations: Business, International Council of Marine Industry, One Ventures, Bpifrance, Partners Locations: Vannes, France, Europe, Italy, Spain, North America

☆ Red Sea crisis: Why escalating violence in the Middle East isn’t pushing up gas prices
▼ + stars: | 2024-01-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

The prices of a barrel of Brent crude, the global oil benchmark, and West Texas Intermediate, the US oil benchmark, have barely moved. Now, however, analysts say economic factors — weaker demand in countries such as China and Germany, ample oil and gas supply — are superseding concerns about violence in the Middle East. Al Drago/Bloomberg/Getty ImagesGlobal oil demand growth is expected to almost halve this year, the International Energy Agency said in a report Thursday. At the same time, global oil supply is forecast to hit an all-time high, driven by record output from countries including the United States and Canada, the IEA said. Nan said relatively modest demand was also helping to prevent spikes in gas prices.

Persons: Brent, “, Homayoun, “ It’s, ”, Hope, Al Drago, That’s, Falakshahi, Xi Nan, Kpler, Wood Mackenzie, Nan Organizations: London CNN, Hamas, West Texas Intermediate, AAA, CNN, National Bureau of Statistics, Bloomberg, Getty, International Energy Agency, Organization of, Petroleum, Rystad Energy, Gas Infrastructure, LNG “ Locations: Red, Iran, Pakistan, Gaza, Ukraine, China, Germany, South Africa, Washington , DC, United States, Canada, Russia, OPEC, Europe, wean, Gas Infrastructure Europe, Africa, Qatar, United Kingdom

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