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☆ Comcast tops earnings estimates as Olympics propels the company
▼ + stars: | 2024-10-31 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Comcast beat third-quarter earning expectations on Thursday, as the Summer Olympics in Paris boosted NBCUniversal's revenue and Peacock's subscriber count. The company's revenue rose 6.5% to $32.07 billion compared to the same period last year. Overall revenue was boosted by the Summer Olympics in Paris, which NBCUniversal exclusively broadcast in the U.S., and domestic broadband revenue — despite continued slowing customer growth. Revenue for the media segment – mainly comprised of NBCUniversal – was up nearly 37% to $8.23 billion, largely due to the Olympics. The company's film studios, also part of the content and experiences segment, saw revenue increase 12.3% to $2.83 billion compared to the prior year.

Persons: –, Peacock, lockdowns, NBCUniversal Organizations: Comcast, LSEG, Summer, Revenue, CNBC, Paris, Olympics, Cable, Verizon, Program, ACP, Domestic, NBC Sports, NBC Olympics, NBC, Games Locations: Paris, U.S, Peacock

6:59 a.m.: Citi raises AT & T price target A wave of improving outlook for telecommunications could benefit shares of AT & T , according to Citi. The firm upgraded the telecommunications company to neutral from sell and left its $350 per share price target unchanged. "Although our 2028 EPS is still c16% ahead of consensus, we now see less scope for earnings outperformance 2024/2025," the analyst added. The firm upgraded the home furnishings stock to buy from hold and increased its price target to $156 per share to $148. His price target of $105, down from $122, implies upside of just 8.7% from Tuesday's close.

Persons: Goldman Sachs, Morgan Stanley, Jefferies, Michael Rollins, Rollins, — Brian Evans, Graham Parry, Parry, Sonoma Jefferies, William, Jonathan Matuszewski, Matuszewski, Brian Evans, Goldman Sachs downgrades Morgan Stanley, Richard Ramsden, Ramsden, Fred Imbert Organizations: CNBC, Williams, Citi, AT, JV, Apple, Communications Citi, Communications, Charter Communications, Bank of America downgrades Novartis Bank of America, Novartis, William, Elm, Brands, WSM, Goldman Sachs downgrades Morgan Stanley Investors Locations: U.S, Sonoma, Swiss, William, Tuesday's

But broadband companies have been focused on transitioning their customers to other affordable options to help them make up the expired discount, according to the companies’ earnings calls. In the wake of the ACP’s expiration, broadband companies have reported losing some customers. While broadband providers were generally supportive of the ACP, many in the industry believed the subsidy benefitted too wide a swath of U.S. households. During the second quarter, Charter reported a loss of 149,000 internet customers, while Comcast reported a decline of 120,000 broadband customers. Charter has tried to retain its low-income consumer base by rolling out new savings deals like offering ACP customers a free unlimited mobile line for one year.

Persons: ’, ”, Craig Moffett, “, Blair Levin, Mike Carey, Nikki Budzinski, GOP Sen, JD Vance, Ohio, Donald Trump’s, Vance quieted, ” Gigi Sohn, Joe Biden, Sohn, Wall, they’re, ” Sohn, ” Carey, ” Budzinski, Chris Winfrey, “ We’ve, ” Moffett, MoffettNathanson, Gigi Sohn’s Organizations: Charter, Verizon, Comcast, Program, Federal Communications Commission, Democratic, Republican, Street Research, CNBC, NBC News, Capitol, Republicans, Emergency, GOP, Republican House, ACP, FCC, ”, Universal Service Fund, USF, Charter Communications Locations: MoffettNathanson, Ohio, U.S, New York

In the wake of the ACP's expiration, broadband companies reported losing some customers. "But that doesn't take away from the families for whom this was important, and could now lose access to broadband." Pete Marovich | ReutersStill, Sohn believes bipartisan support for the ACP should make reauthorizing it a political slam dunk for Democrats. While broadband providers were generally supportive of the ACP, many in the industry believed the subsidy benefitted too wide a swath of U.S. households. Charter Communications CEO Chris Winfrey said in July that the ACP's expiration impacted both losses and low income broadband connections after the company had "put a lot of effort into the ACP program."

Persons: Craig Moffett, Blair Levin, Mike Carey, Nikki Budzinski, GOP Sen, JD Vance, Ohio, Donald Trump's, Vance quieted, Gigi Sohn, Biden, Pete Marovich, Sohn, Wall, they're, Carey, Budzinski, Chris Winfrey Organizations: Istock, Getty, Charter, Verizon, Comcast, Program, Federal Communications Commission, Democratic, Republican, Street Research, CNBC, Capitol, Republicans, Emergency, GOP, Republican House, ACP, Commerce, Science, Washington , D.C, Reuters, Universal Service Fund, USF, Charter Communications Locations: MoffettNathanson, Ohio, Washington ,, U.S, New York

☆ FCC ends affordable internet program due to lack of funds
▼ + stars: | 2024-05-31 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Washington CNN —The Affordable Connectivity Program, which helped low-income Americans get online, is no more. The program’s lapse threatens to throw nearly 60 million Americans into financial distress, CNN has reported. The program officially ends on June 1, said the Federal Communications Commission, which administered the Affordable Connectivity Program (ACP) to approximately 1 in 5 households across the country and on tribal reservations. “The Affordable Connectivity Program filled an important gap that provider low-income programs, state and local affordability programs, and the Lifeline program cannot fully address,” said FCC Chairwoman Jessica Rosenworcel in a statement, referring to the name of another, similar FCC program that subsidizes wireless and home internet service. He also announced a series of voluntary commitments by a handful of internet providers to offer — or continue offering — their own proprietary low-income internet plans.

Persons: ”, Jessica Rosenworcel, Joe Biden, Mike Johnson didn’t, Biden, Kathryn de Wit, Wit, “ Organizations: Washington CNN, Program, Republicans, Democratic, CNN, Federal Communications Commission, Lifeline, FCC, Republican, Comcast, Cox, Verizon, ACP, Congress, Pew

☆ Affordable internet gave Native Americans a way to preserve community and culture. Now it’s another broken promise
▼ + stars: | 2024-05-01 | by ( Brian Fung | ) edition.cnn.com time to read: +12 min

Within weeks, the two-year-old US Affordable Connectivity Program (ACP) is set to run out of funds, and Congress appears unlikely to authorize more. Even as many older and rural Americans may be thrust into financial hardship due to the ACP’s collapse, indigenous communities could fare even worse. Because tribal members can now work remotely, they are no longer forced to move away from their communities to seek opportunity, they told CNN. For example, Mitchell said, after decades of decline in Mohawk fluency, a growing number of tribal members are now involved in online language immersion. (AP Photo/Seth Wenig) Seth Wenig/AP/FileInstead, some say, the collapse of the ACP will become another stain on the US government’s centuries-long track record of breaking promises to tribal communities.

Persons: Kelly, ”, “, “ That’s, ” Kelly, Mike Johnson, Pennsylvania Democratic Sen, John Fetterman, Fetterman’s, Jonathan Nez, “ I’ve, Loren King, Geoffrey Starks, ” Starks, Allyson Mitchell, Mitchell, Nez, ” Nez, Derrick VanSoolen’s, Choctaw, ” VanSoolen, they’re, Bois, Randy Long, Gary Johnson, Paul, Seth Wenig, I’ll Organizations: Washington CNN, Mohawk, CNN, Connectivity Program, FCC, Pennsylvania Democratic, Federal Communications Commission, Treasury, US Federal Communications Commission, Mohawk Networks, Navajo, ACP, Emergency, Program, Choctaw Nation, Bois Forte, Paul Bunyan Communications Locations: St, Lawrence, New York, Canadian, Mohawk, America, Navajo, Oklahoma, Oklahoma , Arizona, New Mexico, Alaska, South Dakota, Arizona, Minnesota, Regis

☆ Interest rates: It’s a mystery when the Fed will begin to cut them
▼ + stars: | 2024-04-30 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington CNN —Nowadays, it’s anyone’s guess when the Federal Reserve will begin to cut interest rates this year — if at all. Fed officials are meeting this week, starting Tuesday, to discuss rates and set policy. That guidance will be key for market observers who clearly have divergent views on interest rates. Forecasts from major Wall Street banks on the first rate cut are all over the place: JPMorgan and Goldman Sachs expect the first cut in July, while Wells Fargo is betting on September. Some Fed policymakers, meanwhile, have even floated the possibility of a rate hike, instead of a cut.

Persons: Goldman Sachs, Wall, Liz Ann Sonders, Charles Schwab, Jerome Powell, “, ” Kathleen Grace, John Towfighi, That’s, nearshoring, Alberto Ramos, Ramos, Morgan Stanley, Read, Cindy Westman, —, Brian Fung, Jason Carroll, I’ll, ”, Westman, ’, Westman — Organizations: CNN Business, Bell, Washington CNN, Federal Reserve, JPMorgan, Bank of America, CNN, Labor Department, Manufacturing, Commerce Department, Program, Social Locations: Washington, Wells, Mexico, —, China, United States, Eureka , Illinois

☆ ‘Should have been done yesterday’: Rural, older Americans could get hurt as affordable internet program runs out of cash
▼ + stars: | 2024-04-29 | by ( Brian Fung | Jason Carroll | ) edition.cnn.com time to read: +14 min

But in just a few weeks, her internet bills, and those of other Americans like her, could skyrocket by hundreds of dollars a year. The program is heavily used by Americans over age 50, military veterans and low-income working families nationwide, according to FCC data. Amira Karaoud/Reuters/FileRural and older usersThe ACP has quickly gained adoption since Congress created the program in the 2021 bipartisan infrastructure law. Large swaths of the ACP’s user base trend older; Americans over 65 account for almost 20% of the program. The FCC’s Lifeline program, which dates to the Reagan administration, similarly gives low-income households a monthly discount on phone or internet service.

Persons: Cindy Westman, —, I’ll, ”, Westman, ’, Westman —, Gigi Sohn, “, Biden, Allison Bailey /, Cynthia George, George, ” George, Marc Veasey, They’re, Geoffrey Starks, “ It’s, ” Starks, Amira Karaoud, Walter Durham, I’m, ” Durham, Michelle McDonough, McDonough, she’ll, doesn’t, “ I’m, ” McDonough, Kamesha Scott, Louis, Megan Janicki, ” Janicki, Reagan, Mike Johnson, Blair Levin, Johnson didn’t, Levin, Jonathan Blaine, ” Blaine, they’re Organizations: CNN, Program, Social, Federal Communications Commission, FCC, Capitol, Getty, MSN, White, ” Texas Democratic, “, Comcast, ACP, Navy, American Library Association, Lifeline, Republicans, Republican, New, Research, ” Bills Locations: Eureka , Illinois, America, Dallas, Las Vegas, Kentucky, San Diego, United States, Maine, St, Vermont

☆ Internet price hikes for low-income Americans could begin in May as federal funds run dry, FCC says
▼ + stars: | 2024-04-10 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Due to lack of funds, April will be the final month the ACP can provide full benefits, the FCC said Tuesday. Next month, ACP subscribers can expect to receive only 46% of their usual benefit, the FCC said. After that, program subscribers may have to pay hundreds of dollars more per year to stay online, or could potentially have to give up internet service entirely. Many ACP subscribers have told CNN that without help, they could have to choose between paying for internet and putting food on the table. CNN is reaching out to major internet providers for comment on the FCC’s call for those voluntary measures.

Persons: Biden, Mike Johnson, Chuck Schumer, Ohio Democratic Sen, Sherrod Brown, Kansas Republican Sen, Roger Marshall, “ Organizations: CNN, Federal Communications Commission, FCC, ACP, Ohio Democratic, Kansas Republican, Senate Locations: Congress

☆ Biden administration points finger at Republicans for internet bill hikes
▼ + stars: | 2024-04-02 | by ( Brian Fung | ) edition.cnn.com time to read: +5 min

“President [Joe] Biden has been calling on Congress to pass legislation that would extend the benefit through 2024. “But unfortunately, Republicans in Congress have failed to act.”Biden has called on Congress to approve $6 billion to continue the ACP. A bill introduced in January by a bipartisan group of lawmakers in the House and Senate would authorize $7 billion. That legislation has 216 co-sponsors in the House, including 21 Republicans, and three in the Senate, including two Republicans. Administration officials declined to say whether Biden or Vice President Kamala Harris have personally discussed the ACP with congressional Republicans.

Persons: Biden, Joe, ”, ” Biden, Mike Johnson, Blair Levin, ” Levin, Republican Sens, J.D, Vance of Ohio, Kevin Cramer of North, Spokespeople, Johnson, Chuck Schumer didn’t, Kamala Harris, Jessica Rosenworcel, ” Rosenworcel, Rosenworcel, Sen, Maria Cantwell Organizations: CNN, Republicans, Program, Federal Communications Commission, GOP, Democratic, Congress, Republican, New, Research, Administration, ACP, Commerce, Science, Transportation Locations: Kevin Cramer of North Dakota

☆ Premarket stocks: Rate cut in June or July? What matters is the Fed wants to get started
▼ + stars: | 2024-03-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

[About 70% of investors now think a rate cut will occur in June, according to the CME FedWatch tool.] Goldman Sachs is currently predicting a 15% chance of recession over the next 12 months, down from 35% last year. Seeing that happen made us more confident that the Fed wouldn’t be forced to cause a recession in order to get inflation down. The reason we say 15% risk is because that is roughly the historical unconditional average. So a 15% recession rate is baseline for you, it will never go below that number?

Persons: Dow, Bell, David Mericle, Goldman Sachs, It’s, it’s, we’ve, I’m, Samantha Delouya, authority’s, ” United, Joe Biden Organizations: New, New York CNN, Federal Reserve, Dow Jones, Goldman Sachs ’, Bell, National Bureau of Economic, FAA, United, Federal Aviation Administration, United Airlines, United Boeing, ”, Federal Communications Commission, Program, Lawmakers, ACP, FCC Locations: New York, We’re, Medford , Oregon

☆ The US government is running out of funding for a program that could cut internet access for millions of Americans
▼ + stars: | 2024-03-24 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Read previewMillions of Americans risk their internet access being disrupted if a critical government program runs out of funding next month. The Affordable Connectivity Program has been helping low-income households access the internet since the Federal Communications Commission launched it in 2021. Once the program ends, some ACP subscribers say they'll need to work more just to stay online. AdvertisementAccording to the outlet, ACP recipients are about 15% of Siyeh Communications' customer base, or about 2,000 subscribers in the Blackfeet reservation. The FCC, Sohn, Siyeh Communications, and the White House did not immediately respond to a request for comment from BI.

Persons: —, Gigi Sohn, Kamesha Scott —, Louis, I'm, Brian DeMarco, Sohn Organizations: Service, Federal Communications Commission, FCC, Business, Biden, Comcast, Benenson, CNN, Independents, Siyeh Communications, Fierce Telecom, White Locations: St, Montana

☆ ACP, a digital lifeline for millions of Americans, is in jeopardy. Here’s why
▼ + stars: | 2024-03-23 | by ( Brian Fung | ) edition.cnn.com time to read: +13 min

Cynthia George is one of millions of Americans in jeopardy of losing their home internet access. Yet Congress is nowhere close to approving the $6 billion that President Joe Biden says would renew the ACP and avert calamity for tens of millions of Americans. Courtesy Michelle McDonoughLike George, McDonough also expects she’ll have to cut back on groceries if the ACP goes away. The FCC’s Lifeline program, which dates to the Reagan administration, similarly gives low-income households a monthly discount on phone or internet service. “You’re taking ACP away from the farmers that can check the local produce prices and be able to reasonably negotiate their prices with retailers.

Persons: Cynthia George, Cynthia George George, Joe Biden, Pedro Ugarte, ”, Gigi Sohn, “, George, ” George, Michelle McDonough, McDonough, she’ll, doesn’t, “ I’m, ” McDonough, Mandel Ngan, Gary Johnson, Paul, —, Kamesha Scott, Louis, Scott, Megan Janicki, ” Janicki, Reagan, Biden, ” Blair Levin, Bill Clark, Levin, Jonathan Blaine, ” Blaine, Blaine Organizations: Washington CNN, MSN, Federal Communications Commission, Program, Lawmakers, ACP, FCC, Getty, CNN, ”, White, Comcast, George, Congress, Paul Bunyan Communications, American Library Association, Lifeline, House Republicans, New, Research, Republican, ” Lawmakers Locations: Washington ,, AFP, United States, Maine, Washington , DC, Minnesota, St, “, Lake Havasu City, Ariz, Vermont

The White House is pressing Congress to extend a subsidy program that helps one in six U.S. families afford internet and represents a key element of President Joe Biden's promise to deliver reliable broadband service to every American household. “It seems to be a bipartisan issue — internet access and the importance of it,” Johnson said. Biden has likened his promise of affordable internet for all American households to the New Deal-era effort to provide electricity to much of rural America. He traveled to North Carolina last month to tout its potential benefits, especially in wide swaths of the country that currently lack access to reliable, affordable internet service. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.

Persons: Joe Biden's, Biden, ”, Tom Perez, “, ” Perez, Gary Johnson, Paul, ” Johnson, ___ Harjai Organizations: Paul Bunyan Communications, Republican, Democratic, New, ACP, Associated Press, America Statehouse News Initiative, America Locations: Minnesota, America, North Carolina, Los Angeles

That's because a subsidy that helps people with limited resources afford internet access is set to expire this spring. If the program expires, participating families, including nearly 900,000 in North Carolina, will either lose internet access or have to pay more to stay connected. Most of that money will be awarded to internet providers to build internet infrastructure in areas that need it most. Several states incorporated the ACP subsidies into those draft plans in ways that would lower the cost for internet access to zero for some customers. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.

Persons: Joe Biden, ” North Carolina Governor Roy Cooper, “, Shirleen Alexander of Charlotte, ”, Alexander, Biden, Franklin Roosevelt, Brian Vo, ” Vo, Nate Denny, he's “, ” Denny, Denny, Gina Raimondo, ” Cooper, ___ Organizations: ANGELES, Program, ” North, ” North Carolina Governor, Democrat, Administration, New, ”, Connect, Biden, Federal Communications Commission, Sense Media, Boston Consulting, Broadband Equity, National Telecommunications and Information Administration, Associated Press, America Statehouse News Initiative, America Locations: North Carolina, U.S, ”, ” North Carolina, America, Raleigh

☆ One country dominated clean energy growth this year, and it isn't the US, UK, or Germany. It's China, by a landslide.
▼ + stars: | 2023-12-27 | by ( Associated Press | ) www.businessinsider.com time to read: +11 min

In the United States, California continues to have the most solar energy, followed by Texas, Florida, North Carolina, and Arizona. China was one of the few growing markets this year for wind, the Global Wind Energy Council said. Faster permitting and other improvements in key markets such as Germany and India also helped add more wind energy. The top three markets this year are still China, the United States, and Germany for wind energy produced on land, and China, the United Kingdom, and Germany for offshore. The analysts are predicting that the global industry will rebound next year and make nearly 12% more wind energy available worldwide.

Persons: Mohammed bin Rashid Al Maktoum, Joshua A, Bickel, it's, Michael Taylor, IRENA, Karim Shahi, Rafiq Maqbool, Daniel Bresette, Bresette, Abigail Ross Hopper, Wood, Wood Mackenzie, Julia Nikhinson Construction, John Hensley, Seth Wenig, Hau Dinh, Evan Hartley, Paul Braun, John Eichberger, Daan Walter Organizations: Service, International Energy Agency, Business, IEA, United Arab Emirates, Climate, AP, International Renewable Energy Agency, Arizona . Workers, Energy Limited's, Energy, Environmental, Energy Study Institute, Solar Energy Industries Association, Global Energy Monitor, Wind Energy, Clean Power, Workers, Atlas Public, Benchmark Mineral Intelligence, Benchmark, University of Illinois, Panasonic, Toyota, Health, General Motors Co, LG Energy, Transportation Energy Institute, Rocky Mountain Institute Locations: Germany, Spain, Mohammed, Dubai, United, Bickel China, Europe, United States , California, Texas , Florida, North Carolina, Arizona, Karim, Khavda, Bhuj, India, Pakistan, Gujarat, China, Wood Mackenzie, Montauk Point , New York, Asia, United States, State, New London, Conn, United Kingdom, Hai Phong, Vietnam, Kansas, Ohio

REUTERS/David Swanson/File photo Acquire Licensing RightsNov 24 (Reuters) - Canceled offshore wind projects, imperiled solar factories, fading demand for electric vehicles. A year after passage of the largest climate change legislation in U.S. history, meant to touch off a boom in American clean energy development, economic realities are fraying President Joe Biden’s agenda. Clean energy experts interviewed by Reuters say the mounting setbacks will make the United States' ambitious targets to decarbonize by mid-century even harder to reach. Solar energy facilities account for two thirds of those delays due in part to U.S. import restrictions. "These are the normal ups and downs of clean energy development and deployment," Reicher said.

Persons: David Swanson, Joe Biden’s, Biden, John Hensley, Wood Mackenzie, “, Ali Zaidi, Prakash Sharma, that's, Vic Abate, it's, Robert Walther, Walther, Dan Reicher, Reicher, Nichola Groom, Richard Valdmanis, Alistair Bell Organizations: REUTERS, Soaring, Ford, Reuters, American Clean Power Association, United Nations, White, Dominion Energy Inc, TEN, GE, Biden, Treasury Department, Trump, Stanford University, Thomson Locations: Palm Springs , California, U.S, Washington, Nations, Egypt, Dubai, United States, Paris, Virginia, Gulf of Mexico

☆ Panama Canal to slash booking slots due to drought over coming months
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. REUTERS/Aris Martinez/File Photo Acquire Licensing RightsPANAMA CITY, Oct 31 (Reuters) - The Panama Canal, one of the world's main maritime trade routes, will further reduce daily ship crossings in the coming months due to a severe drought, the authorities managing the canal said late on Monday, increasing shipping costs. Booking slots will be cut to 25 per day starting Nov. 3 from an already reduced 31 per day, the Panama Canal Authority (ACP) said in a client advisory, and will be gradually reduced further over the next three months to 18 slots from Feb. 1. In recent months, the ACP has imposed various passage restrictions to conserve scarce water, including cutting vessel draft and daily passage authorizations. It also said delays for some gas transporters were at record highs in Panama, pushing up the cost of shipping liquefied gas from the U.S.

Persons: Aris Martinez, Eli Moreno, Brendan O'Boyle, Isabel Woodford, Josie Kao Organizations: Monrovia NSU CHALLENGER, REUTERS, PANAMA CITY, Panama Canal Authority, U.S . Energy, Administration, Thomson Locations: Cocoli, Panama, Panama City, PANAMA, Gatun Lake

☆ Panama Canal trims vessel passage quota again to deal with severe drought
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +2 min

Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. The Panama Canal Authority (ACP) in recent months has imposed various passage restrictions to conserve water, including cutting vessel draft and daily passage authorizations, which are normally 36 per day. The restrictions have generated long queues of waiting vessels, although the canal administration said Friday that levels were normal. The effects have led the canal to estimate a reduction in revenues of up to $200 million by 2024. Reporting by Elida Moreno; Editing by Drazen Jorgic and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Aris Martinez, Elida Moreno, Drazen Jorgic, Leslie Adler Organizations: Monrovia NSU CHALLENGER, REUTERS, PANAMA CITY, Panama Canal Authority, ACP, Thomson Locations: Cocoli, Panama, Panama City, PANAMA

☆ US Grid-Scale Energy Storage Installations Hit New Quarterly Record - Report
▼ + stars: | 2023-09-25 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

(Reuters) - The U.S. grid-scale energy storage installations hit a new record in the second quarter of 2023, a report by Wood Mackenzie and the American Clean Power Association (ACP) said. Grid-scale energy storage is essential in helping balance and regulate energy supply in a grid that is increasingly reliant on intermittent wind and solar power. Across all segments of the industry, the U.S. energy storage market added 5,597 megawatt hours (MWh) in the second quarter this year, a new quarterly record. "We saw a huge bounce back in Q2 after consecutive quarterly declines in the market," said Vanessa Witte, senior analyst with Wood Mackenzie’s energy storage team. Meanwhile, community, commercial, and industrial (CCI) installations were at 107 MWh in the second quarter, according to the report.

Persons: Wood Mackenzie, John Hensley, Vanessa Witte, Wood, Ashitha, Eileen Soreng Organizations: Reuters, American Clean Power Association, Research Locations: U.S, California, Bengaluru

☆ Major shipping routes are struggling with water shortages. El Niño could make it worse
▼ + stars: | 2023-08-21 | by ( Sam Meredith | ) www.cnbc.com time to read: +6 min

A ship navigates the Panama Canal in the area of the Americas' Bridge in Panama City on June 12, 2023. Luis Acosta | Afp | Getty ImagesAn increasing number of climate-driven extreme weather events is taking its toll on the world's major shipping routes — and El Niño could make matters worse. In drought-stricken Panama, low water levels have prompted the Central American country to reduce the number of vessels that pass through the critically important Panama Canal. The Panama Canal Authority, which manages the waterway, said earlier this month that the measures were necessary because of "unprecedented challenges." "Right now, we do not see that filling up of the water levels that a normal year would bring around.

Persons: Luis Acosta, El Niño, El, Peter Sands, Sands, Lars Ostergaard Nielsen, Moller, Balint Porneczi, Nielsen Organizations: Afp, Getty, Central, Atlantic, Panama Canal Authority, CNBC, Analysts, Planet Labs PBC, El, Maersk, Bloomberg, Palatinate . Locations: Panama, Panama City, Central American, Suez, Europe, Asia, Pacific, Germany, Rotterdam, Bacharach, Rhineland, Palatinate, Frankfurt

☆ More than 20 million Americans enrolled in a federal program for subsidized internet access
▼ + stars: | 2023-08-14 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Washington CNN —More than 20 million US households are now receiving discounts on internet service as part of a federal program created to close the digital divide, according to the Federal Communications Commission. Recipients living on tribal lands can receive even more, up to $75 per month to help cover internet access costs. Then, this February, Vice President Kamala Harris announced the figure had grown to more than 16 million households saving a total of $500 million a month on internet service. The program has continued to gain more than half a million new households a month since then. The ACP isn’t the only way the US government has recently moved to expand internet access.

Persons: Washington CNN —, Kamala Harris, ”, Jessica Rosenworcel Organizations: Washington CNN, Federal Communications Commission, Program, SNAP, Pell, FCC, ACP, Commerce Department, Broadband Equity Locations: United States

☆ From GE to Siemens, the wind energy industry hopes billions in losses are about to end
▼ + stars: | 2023-04-17 | by ( Bob Woods | ) www.cnbc.com time to read: +8 min

The wind farm includes 132 2-megawatt Gamesa G80 wind turbines along 12 miles of the Allegheny Front. (Photo by Chip Somodevilla/Getty Images) Chip Somodevilla | Getty Images News | Getty ImagesIt's been a tough couple of years for the U.S. wind energy industry. Although 2023 is expected to remain sluggish, GE Renewable Energy, Siemens Energy and Vestas Wind Systems, the leading makers of wind turbines — outside of China, which has built the world's largest wind energy infrastructure — and their suppliers are banking on growth over the next decade, particularly in the nascent offshore wind niche. "The wind energy market is stuck in this very strange paradox right now," said Aaron Barr, an industry analyst at Wood Mackenzie. Comparatively, the U.S. offshore wind industry is just ramping up after years of delays in permitting, environmental approvals and power purchasing agreements with utilities that buy wind energy.

☆ U.S. FDA approves Acadia's Rett syndrome drug
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +3 min

The approval comes months after the FDA declined to approve expanded use of Acadia's drug Nuplazid to treat psychosis related to Alzheimer's disease. Acadia said it plans to make the drug available to patients by the end of April. He forecast peak U.S. trofinetide sales of $487.2 million by 2035. After the FDA declined to approve the expanded use of Nuplazid, Acadia said it would not pursue that indication for Nuplazid further. Improvement of symptoms was measured according to the assessment scales Rett Syndrome Behaviour Questionnaire and the Clinical Global Impression of Improvement.

☆ U.S. FDA approves Acadia's genetic Rett syndrome drug
▼ + stars: | 2023-03-11 | by ( ) www.reuters.com time to read: +3 min

March 10 (Reuters) - The U.S. Food and Drug Administration approved Acadia Pharmaceuticals Inc's (ACAD.O) drug for the treatment of Rett syndrome, a genetic brain disorder, the company said on Friday, making it the first approved drug for the condition. The approval comes months after the FDA declined to approve expanded use of Acadia's drug Nuplazid to treat psychosis related to Alzheimer's disease. Acadia said it plans to make the drug available to patients by the end of April. He forecast peak U.S. trofinetide sales of $487.2 million by 2035. Improvement of symptoms was measured according to the assessment scales Rett Syndrome Behaviour Questionnaire and the Clinical Global Impression of Improvement.

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