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☆ Eastern US storm outbreak knocks out power to over 1 million
▼ + stars: | 2023-08-07 | by ( Mary Gilbert | ) edition.cnn.com time to read: +3 min

CNN —A severe weather outbreak unleashed damaging winds that knocked out power to hundreds of thousands of people and caused widespread travel disruptions across the Eastern US. Live updates: Damaging storms hit Eastern USForecasts warned of damaging hurricane-force wind gusts of up to 80 mph in the strongest storms. A first in a decade forecastAccounting for every level of severe storm risk, around 120 million people in the Eastern US were threatened by damaging weather Monday as a potent storm system, especially for August, crossed the region. Tornadoes may spin up quickly in the same lines of storms bringing damaging winds, giving little time to get to safety. Areas at risk on Tuesday will generally be south of where Monday’s damaging storms rage.

Organizations: CNN, D.C, Washington D.C, Atlanta’s Hartsfield, Jackson International, Newark Liberty, Philadelphia International Locations: Atlanta , Washington, Baltimore, Philadelphia, Charlotte, North Carolina, Alabama, Pennsylvania, North Carolina , Georgia, Maryland, Atlanta, Washington, FlightAware, New Jersey, LaGuardia, New York, Mississippi, Carolinas, Tennessee, Kentucky, North Carolina , Virginia, Maryland , Pennsylvania, Mississippi , Alabama, Georgia, Florida

☆ The EV price wars could hurt automakers when it comes to one of their most important groups of customers
▼ + stars: | 2023-07-27 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +4 min

Electric trucks, long touted as a key to broader EV adoption, are a wildcard in the electric vehicle price war. Automakers are investing billions of dollars to electrify their product lineups not just for the average car buyer, but also for these fleet customers. "You're watching your numbers, you're watching your budget, you're watching the profit you're making." Still, automakers can't afford to jerk these buyers around with EV price changes. Smaller fleet customers are also very important for dealers, and electric trucks are a big gamble to sell to these customers, dealers who spoke with Insider said.

Persons: they're, Robby DeGraff, Tyson Jominy, Ford, Jominy Organizations: Morning, Car, EV, Amazon, FedEx, Walmart, Silverado Locations: .

☆ Goldman: The market is missing these 'highly compelling' global stocks — and 2 are on its conviction list
▼ + stars: | 2023-07-26 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Goldman Sachs has named a number of European renewable energy stocks it says the market is missing — and says it expects the sector to bounce back after a period of declining returns. The growth in renewable energy is "highly compelling," the bank said, owing to the European energy crisis, a decline in costs for wind and solar energy, and the European Union's focus on mitigating climate change. "RWE is among the best-placed [renewable energy storage] developers to capture the expanding addressable market in the US, Germany and the rest of Europe," the analysts stated. As the pipeline builds we expect the company to unlock further value," the analysts stated. Conviction list stocks Two of Goldman's stock picks are on its conviction list of most favored stocks.

Persons: Goldman Sachs, Alberto Gandolfi, Goldman, Enel, — Organizations: EDP Renewables, ENEL, Scottish, Renewables, LevelTen Energy Locations: Orsted, US, Germany, Europe

☆ I've been a therapist for 10 years. Here are 9 things people want most in life—and how to get them
▼ + stars: | 2023-07-24 | by ( Charlotte Fox Weber | ) www.cnbc.com time to read: +4 min

I spent years in therapy waiting for a therapist to ask me what I want. Based on my 10 years of practicing, I've found that there are nine things people want most in life:1. To be understoodWhen people's opinions of us clash with how we want to be seen, we feel alienated and isolated. "I've been so angry at life, I forgot to notice this beautiful creature I created." It's about being secure in all that you are, even the awkward, clumsy, oddball moments — especially those moments!

Persons: I've, they're, It's, I'm

☆ The U.S. Power Grid Withstands the Heat, So Far
▼ + stars: | 2023-07-23 | by ( Katherine Blunt | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

CNN —Russian missiles badly damaged dozens of Ukrainian architectural landmarks, including a historic Orthodox cathedral in the southern port city of Odesa, sparking outrage and prompting President Volodymyr Zelensky to vow retaliation. “Russians deliberately aimed their missiles at the historic city center of Odesa, which is under the UNESCO protection. Some of the other cultural sites damaged include the House of Scientists and Zhvanetskyi Boulevard, Odesa’s Mayor Hennadii Trukhanov said Sunday. Jae C. Hong/APThe cathedral lies in Odesa’s city center, which UNESCO named a World Heritage Site amid the threat of Russia’s invasion. “Missiles against peaceful cities, against residential buildings, a cathedral … There can be no excuse for Russian evil,” Zelensky said.

Persons: Volodymyr Zelensky, Odesa –, Oleh Kiper, Hennadii Trukhanov, Jae C, Catherine the Great, Oleksandr Tkachenko, Maia Sandu, Russia’s, Oleksandr Gimanov, ”, Julia Gorodetska, I’ve, Odesa, Zelensky, ” Zelensky, Serhii Smolientsev, Reuters “, Josep Borrell, Oleh Syniehubov, ” Syniehubov Organizations: CNN, UNESCO, Scientists, Zhvanetskyi, Ukrainian, Heritage, Getty, Command, Russian Ministry of Defense, “, Odesa, Reuters, Telegram . Civilian Locations: Russian, Odesa, Odesa’s, Soviet, Ukraine, Russia, Moscow, AFP, Ukrainian, Kharkhiv, Dvorichna, Kharkiv, Chuhuiv, Kupyansk

☆ Opinion | What I Learned in Ukraine
▼ + stars: | 2023-07-23 | by ( Bret Stephens | ) www.nytimes.com time to read: +3 min

I learned that every member of the American Embassy staff in Kyiv, led by our courageous and cleareyed ambassador, Bridget Brink, volunteered for the duty. I learned what it was like to sit in conference rooms and walk along corridors that would soon be shattered by Russian ordnance. I learned that Ukrainians have no interest in turning their victimization into an identity. I learned that, for all the aid we’ve given Ukraine, we are the true beneficiaries in the relationship, and they the true benefactors. NATO countries are paying for their long-term security in money, which is cheap, and munitions, which are replaceable.

Persons: Bridget Brink, general’s, Samantha Power, Power, Anatoliy Fedoruk, ”, aren’t, Ben Wallace, Britain’s Organizations: American Embassy, Marshall, United States Agency for International Development, Port Authority, Serbian, NATO Locations: Kyiv, Odesa, Belgrade, Kosovo, Bucha, Moscow, Budapest, Russia, Minsk, Ukraine

☆ How to invest in the massive and urgent demand for infrastructure, according to the manager of a $40 billion firm that does just that
▼ + stars: | 2023-07-20 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +8 min

It's not investing in infrastructure directly," Wahba told CNBC. "All the technology around infrastructure services, I think is an area which is going to grow exponentially," Wahba told CNBC. More infrastructure systems are going to become digitized, which means those systems increasingly become vulnerable to cybersecurity attacks. The danger of hackers with bad intentions getting into infrastructure systems is especially scary. Otherwise, privatizing infrastructure "is a recipe for disaster," Wahba told CNBC.

Persons: Sadek Wahba, Wahba, It's, Burger, Charles, Gaulle Organizations: Squared Capital Advisors, P Global, Bloomberg, Getty, Squared, Biden's, Infrastructure Advisory Council, CNBC, Companies Locations: Houston , Texas, New York City, Manhattan, cybersecurity, United States, United Kingdom, Paris, JFK, U.S

☆ Power demand breaks record in Texas again during heat wave
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +2 min

July 18 (Reuters) - Power demand in Texas hit a record high for a second straight day on Tuesday as homes and businesses cranked up air conditioners to escape a brutal heat wave. The Electric Reliability Council of Texas (ERCOT), which operates the grid for more than 26 million customers representing about 90% of the state's power load, has said it has enough resources available to meet soaring demand. That is the fifth record high in ERCOT this summer. One megawatt can power around 1,000 U.S. homes on a typical day, but only about 200 homes on a hot summer day in Texas. Rising economic and population growth has boosted electricity use in Sun Belt states like Texas and Arizona even though overall U.S. power demand is projected to ease in 2023 after hitting a record high in 2022.

Persons: ERCOT, Scott DiSavino, Leslie Adler, Sonali Paul, Chris Reese Organizations: Reliability, of Texas, Sun, Thomson Locations: Texas, ERCOT, Houston, Dallas, Arizona

☆ Stocks making the biggest moves midday: Ford, AT&T, Yelp, Figs and more
▼ + stars: | 2023-07-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Paramount Global — The entertainment company's stock shed 4.4% after the new "Mission: Impossible" movie underperformed expectations at the box office. The Wall Street firm said Progressive's valuation is now compelling after its poor results in June, and said the company has long-term earnings power and growth potential. Yeti — The cooler company's stock fell 5.8% following a downgrade to underweight from sector weight by KeyBanc. The Wall Street firm cited concerns over Yeti's growth and its heavy wholesale channel inventory. State Street — The asset manager slipped more than 3.1% after the firm was downgraded by multiple Wall Street firms, including JPMorgan.

Persons: Rivian, Tesla —, Knight, Yelp, Goldman Sachs, Raymond James, Cantor, —, Samantha Subin, Alex Harring, Tanaya Macheel, Brian Evans Organizations: Ford —, Ford, Tesla — Elon, Constellation Software, Intercontinental Exchange, Citi, BridgeBio Pharma —, Activision, Microsoft, Sony, PlayStation, Activision Blizzard, Paramount Global, Variety, Apellis Pharmaceuticals, American, JPMorgan, Wall, State Street's, Iris Energy

☆ Opinion | America Must Rebuild Itself. The Question Is How.
▼ + stars: | 2023-07-16 | by ( Ezra Klein | ) www.nytimes.com time to read: +4 min

In practice, though, the term “organized labor” belies the reality of fractured, disorganized labor organizations at the state and local levels. I’ve talked in previous columns about the cost and speed gains to be made by using modular housing produced in off-site factories that use union labor. That said, I think labor is a more natural ally in this project than some other liberal interest groups. You can see that in Pennsylvania, where a section of I-95 collapsed and was rebuilt in a matter of weeks, not months or years, with union labor. Plenty of countries with stronger unions than America complete transit projects more rapidly and more affordably than we do.

Persons: I’ve, Josh Shapiro, “, ” Shapiro, Biden, Shapiro Organizations: Commonwealth, Democratic Locations: California, Pennsylvania, America, Plenty, United States

The 64GB iPad Mini, the most petite of Apple's tablet lineup, is available for just $379.99. Apple iPad Mini Prime Day dealDeal icon An icon in the shape of a lightning bolt. Lowest Price Apple iPad Mini 6th-generation 64GB (2021) The 6th-generation iPad Mini has an 8.3-inch Liquid Retina display, Apple's A15 Bionic processor from the iPhone 13 series, and a design that looks like the iPad Air. Lowest Price Apple iPad Mini 6th-generation 256GB (2021) The iPad Mini is a powerful tablet in a small package that's perfect for portability. $529.99 from Amazon Originally $649.00 Save 18%The iPad Mini is better than you might thinkThe newest iPad Mini may be small in size but certainly not in capabilities.

Persons: it's, —, you've Organizations: Amazon, Apple, M1, iPad

☆ Investments in updating the electrical grid is entering a new phase of growth, which could benefit one stock in particular
▼ + stars: | 2023-07-10 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

The effort to upgrade the U.S. power grid is heating up rapidly, according to UBS, which says the trend could be a driver for Quanta Services stock. Analyst Steven Fisher wrote in a Monday note that "electric grid investment is entering a new phase of growth, with renewables activity accelerating and large transmission projects gaining momentum." Fisher attributed the growth of these large scale projects to the IRA, which contained about $350 billion in funds for investments into renewable energy and updating the power grid. "For Quanta, we believe the implications of this new phase include potentially faster top-line growth, higher margins and increasing scope on projects," Fisher said. In addition to large transmission projects already planned, Fisher updated the list to include Oregon Public Utility Commission's Boardman to Hemmingway as well as Colorado's Power Pathway and Ready Wyoming .

Persons: Steven Fisher, Fisher, Boardman, Michael Bloom Organizations: UBS, Biden Locations: Oregon, Hemmingway, Wyoming

☆ These U.S. states have the best and the worst tap water: Kentucky ranked No. 1 while Alabama came in dead last
▼ + stars: | 2023-07-08 | by ( Celia Fernandez | ) www.cnbc.com time to read: 1 min

Water scarcity is one of the most significant and impactful components of the climate crisis. A 2022 Gallup poll revealed that 57 percent of Americans worry more about safe drinking water than global warming, air pollution or the extinction of animal species. Power ranked the states with the best and worst tap water based on six factors:quality and reliabilitypriceconservationbilling and paymentcommunicationscustomer serviceThe study tracked water utility customers in all 50 states and the District of Columbia. To be eligible, states had serve a minimum of 400,000 residential customers and a minimum of 100 survey respondents. The states were scored on a scale of 100 to 1,000 points.

Organizations: Gallup, Power, District of Columbia

☆ Opinion | Wonking Out: De-Dollarization Debunked
▼ + stars: | 2023-07-07 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

Most of us rarely engage in barter; we sell stuff for dollars, then use those dollars to buy other stuff. Similarly, a large share of international transactions, especially in financial markets, involves payments in dollars rather than in local currencies. How much does this special role matter? I’ve tried elsewhere to debunk some of the myths about the centrality of dollar dominance to U.S. power. In general, one’s belief in the crucial importance of the dollar’s international role tends to be inversely proportional to how much you actually know about the subject.

Persons: moneys, I’ve, Elon Musk, “ weaponizing, Vladimir Putin Organizations: U.S, America, Federal Reserve Locations: America, Saudi

☆ US new vehicle sales rise on strong demand, better supply
▼ + stars: | 2023-07-05 | by ( Pratyush Thakur | ) www.reuters.com time to read: +2 min

Vehicle production took a hit after the pandemic disrupted supply of semiconductor chips and other raw materials, hurting automakers' ability to meet the upsurge in demand for cars, trucks and SUVs. Toyota Motor's (7203.T) North America unit reported a 7.13% rise in U.S. sales to 568,962 units for the quarter ended June. Auto giant General Motors (GM.N), however, surpassed Toyota in the quarter, with a near 19% rise to 691,978 units in the United States. Earlier in the week, FCA US, a unit of Stellantis (STLAM.MI), reported a 6% increase in total U.S. sales. Power and GlobalData estimate total U.S. auto sales to reach 4,116,600 units in the quarter ended June, up 18.2% from a year earlier.

Persons: Cox, Jonathan Smoke, Toyota Motor's, J.D, Pratyush Thakur, Shivansh, Pooja Desai, Shilpi Majumdar Organizations: Toyota, Auto, General Motors, FCA, Tesla Inc, Thomson Locations: United States, America, Bengaluru

☆ Wall Street Recession: Stock Market Crash Predictions Are Wrong
▼ + stars: | 2023-07-05 | by ( Neil Dutta | ) www.businessinsider.com time to read: +11 min

Wall Street analysts and economists have always had a tendency to fall in love with their forecasts. This stubbornness helps explain why Wall Street is having an exceptionally hard time letting go of the idea that a recession is just around the corner. Despite the year-plus in which analysts have been arguing that a recession is imminent, none of the arguments behind the predictions stand up to scrutiny. Bear growlsOver the past year, Wall Street pessimists' reasons for an approaching recession have shifted. The drag from the US housing market is fading.

Persons: doomsayers, it's, Neil Dutta Organizations: Street, Federal Reserve, Fed, Macro

☆ SBI Holdings to help Taiwan's Powerchip build a plant in Japan
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

TOKYO, July 5 (Reuters) - Financial firm SBI Holdings (8473.T) said on Wednesday it would help Taiwan's Powerchip Semiconductor Manufacturing Corp (6770.TW) establish a factory in Japan as the country looks to revive its chip industry. "This is the best possible time to enter chip manufacturing," Kitao said at a joint press conference with the Taiwanese company's chairman, Frank Huang. Powerchip is currently looking at three or four potential sites and manufacturing could begin two years after construction starts, Kitao added. Japan is also funding a homegrown venture, Rapidus, which says it plans to produce advanced logic chips from the middle of the decade with help from IBM Corp (IBM.N). Powerchip provides contract manufacturing services for logic and memory chips for power management to customers including MediaTek Inc (2454.TW), Taiwan's largest designer of mobile phone chips.

Persons: Yoshitaka Kitao, Kitao, Frank Huang, Powerchip, Miho Uranaka, Tim Kelly, Christopher Cushing, Jamie Freed, Louise Heavens Organizations: Financial, SBI Holdings, Semiconductor Manufacturing Corp, SBI, Taiwan Semiconductor Manufacturing, Sony Group, Denso Corp, Kioxia Corp, Western Digital Corp, chipmaker Micron Technology, IBM Corp, MediaTek Inc, Thomson Locations: TOKYO, Japan, Kumamoto prefecture, Hiroshima

☆ Utility Companies Sell Wind, Solar Farms to Shore Up U.S. Power Grid
▼ + stars: | 2023-07-03 | by ( Katherine Blunt | Jennifer Hiller | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/utility-companies-sell-wind-solar-farms-to-shore-up-u-s-power-grid-755bf06c

Persons: Dow Jones

☆ Why the electric vehicle boom could put a major strain on the U.S. power grid
▼ + stars: | 2023-07-01 | by ( Katie Brigham | ) www.cnbc.com time to read: +9 min

Over half of all new cars sold in the U.S. by 2030 are expected to be electric vehicles. That could put a major strain on our nation's electric grid, an aging system built for a world that runs on fossil fuels. Major grid infrastructure needsCharging electric vehicles is quite electricity intensive. Larger electric vehicles such as the Ford F-150 Lightning would generally use more electricity than a central AC unit in a large home. The utility is tied to a four-year funding cycle for grid infrastructure upgrades, and its last funding request was in 2021.

Persons: That's, we've, Rob Gramlich, Gramlich, Lydia Krefta, Krefta, David Paul Morris, Aram Shumavon, Shumavon, we're, Sen, Joe Manchin, Joe Biden, Tesla Organizations: Rapid Energy, Princeton University, Grid, California Public Utilities Commission, EV, Tesla, Ford, Workers, Power Services, Pacific Gas & Electric, Bloomberg, Getty, Nissan Leaf, Ford Motor Company Locations: U.S, California, Northern, Central California, Healdsburg , California

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to prepare the U.S. power grid for the EV boomThe EV revolution could put a major strain on the nation's electric grid, an aging system built for a world that runs on fossil fuels. To upgrade the grid to meet growing electricity demand, the U.S. needs to build a massive amount of new transmission and distribution lines to connect renewable energy resources to population centers. But there are major regulatory hurdles, and the government is not investing near the amount that analysts say we need in order to meet electrification targets.

Locations: U.S

☆ Texas power use breaks record in heat wave -ERCOT
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

June 27 (Reuters) - Power use in Texas hit a preliminary all-time high on Tuesday as homes and businesses cranked up air conditioners to escape a three-week-old heat wave, according to data from the state's power grid operator. The high temperature in Houston, the biggest city in Texas, hit a high of 100 degrees Fahrenheit (38 Celsius) on Tuesday, Weather.com reported. The Electric Reliability Council of Texas (ERCOT) said power use reached a preliminary 80,828 megawatts (MW) at 6 p.m. CST, topping the grid's previous record of 80,148 MW set on July 20, 2022. ERCOT, which operates the grid for more than 26 million customers representing about 90% of the state's power load, said it has enough resources to meet current demand. Although U.S. power demand is projected to ease in 2023 after hitting a record high in 2022, rising economic and population growth is expected to keep boosting electric use in Sun Belt states like Texas.

Persons: Weather.com, ERCOT, Ashitha Shivaprasad, Harshit Verma, Scott DiSavino, Leslie Adler, David Gregorio, Cynthia Osterman Organizations: Reliability, of Texas, Texans, Sun, Reuters Graphics Reuters, Thomson Locations: Texas, Houston, Bengaluru

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☆ Activist investor Elliott seeks ouster of NRG CEO - WSJ
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

June 21 (Reuters) - Activist investor Elliott Investment Management is increasing pressure on NRG Energy (NRG.N) and seeking to oust its CEO Mauricio Gutierrez, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Elliott is in talks with potential candidates to replace the U.S. power company's CEO as well as other top executives, the report said. In a statement to Reuters, an NRG spokesperson said that the company's board "fully supports NRG's CEO Mauricio Gutierrez and management team," adding that the company will be discussing its strategic plan with shareholders at its investor day. The report comes after Elliott sent a letter to NRG's board last month, pushing for a boardroom overhaul. The activist investor had urged the company to conduct a review of its home services strategy and add new independent directors.

Persons: Mauricio Gutierrez, Elliott, Rahat Sandhu, Rishabh Jaiswal, Krishna Chandra Eluri, Maju Samuel, Subhranshu Organizations: Investment Management, NRG Energy, Wall Street, Reuters, NRG, Elliott Investment, Thomson Locations: U.S, Bengaluru

☆ Quality of new vehicles in US declining on more tech use, study shows
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

Build quality of certain parts such as audio systems and cup-holders have resulted in quality issues, the report said, which collected data from 93,380 purchasers and lessees of 2023 model-year vehicles. Problems per 100 vehicles (PP100) rose 30 PP100 during the past two years, the report said. A lower score reflects higher vehicle quality. The wide range of quality problems in the automotive industry is "a phenomenon not seen in the 37-year history of the Initial Quality Study", said J.D Power's senior director of auto benchmarking Frank Hanley. Dodge ranked the highest overall in terms of initial quality, while Chrysler and Volvo were jointly ranked lowest, according to J.D.

Persons: Bing Guan, J.D Power's, Frank Hanley, Hanley, Nathan Gomes, Shilpi Majumdar Organizations: Tesla Inc, Dodge, Chrysler, Volvo, Thomson Locations: United States, Carson , California, U.S, Bengaluru

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