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He also lowered his price target by $6 to $120, implying just 3.9% upside from Tuesday's close. Analyst Shaun Kelley has a $40 price target on shares, implying shares could gain 11.4% from Tuesday's close. Rivian shares jumped more than 7% after the company increased its production forecast for the full year by 2,000 units to 54,000. Datadog shares have produced zero return over the past three years, Murphy noted, with shares down 9% since Oct. 15, 2020. UBS has a neutral rating on Apple and a price target of $190 per share, which implies upside of 4.5%.

Persons: Cowen downgrades Estee, TD Cowen, Estee Lauder, Oliver Chen, Chen, — Hakyung Kim, Shaun Kelley, Kelley, Goldman, Goldman Sachs, Neil Mehta, Mehta, There's, Colin Langan, Langan, Piper Sandler, Alexander Potter, Potter, Rivian, Mark Delaney, Morgan Stanley, Jonas, Mark Murphy, Murphy, David Vogt, Vogt, Fred Imbert Organizations: CNBC, Tech, UBS, JPMorgan, Revenue, Asia, Bank of America, Industry, Mehta ., Wall Street, Rivian, pullbacks, Pro, Pro Max, Apple Locations: China, Asia Pacific, Europe, Middle East, Africa, Tuesday's, U.S

☆ 35 elephants suddenly dropped dead in 2020. Their case has finally been solved.
▼ + stars: | 2023-11-07 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +3 min

In 2020, 35 elephants dropped dead in Zimbabwe over a month timespan. Between August and September 2020, 35 elephant carcasses were retrieved from various safaris and protected lands in Zimbabwe — with eleven of these animals dying within a 24-hour period. AdvertisementAdvertisementThey concluded that most, if not all, the elephants died as a result of septicemia, or blood poisoning, caused by the bacteria. The 35 deaths in Zimbabwe also coincided with a mass die-off of elephants in Botswana in 2020. At least 350 elephants died within a three-month timespan, and researchers at the time concluded that blue-green algae contaminated local water sources and poisoned the elephants.

Persons: —, Dr, Chris Foggin, Foggin Organizations: Service, Nature Communications, Victoria Falls Wildlife Trust, CNN Locations: Zimbabwe, Africa, Asia, Victoria Falls, Botswana

Nov 7 (Reuters) - The number of newborns with syphilis in the United States surged more than 10-fold in the last decade, the U.S. Centers for Disease Control and Prevention (CDC) reported on Tuesday. The agency said 3,761 cases were recorded in 2022, the highest in over 30 years, up from 334 cases in 2012. The 2022 cases included 231 stillbirths and 51 infant deaths. Congenital syphilis occurs when a mother with syphilis passes the infection to her baby during pregnancy. The CDC recommends screening for syphilis at the first prenatal care visit to reduce perinatal transmission.

Persons: Laura Bachmann, Bachmann, Sriparna Roy, Nancy Lapid Organizations: U.S . Centers for Disease Control, Prevention, CDC's, CDC, Thomson Locations: United, Bengaluru

☆ Oil prices ease as market awaits China data to gauge demand
▼ + stars: | 2023-11-07 | by ( ) www.cnbc.com time to read: +2 min

Oil prices eased on Tuesday, giving up most of the gains from the previous day, on concerns over weak demand in China, with investors focusing on trade data due later in the day to gauge demand from the world's second-largest oil consumer. Both benchmarks gained about 30 cents on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. "Oil prices were supported by continued output cuts by Saudi and Russia the previous day but investors' attention has shifted to demand, especially in China," said Toshitaka Tazawa, an analyst at Fujitomi Securities, noting all eyes are on data from China this week. "We expect to see a tug-of-war at the levels near the current oil prices going forward, while digesting news on both supply and demand sides," Tazawa said, adding the trend may change dramatically if the Middle East situation becomes more tense. Moscow also announced it would continue its additional voluntary supply cut of 300,000 bpd from its crude oil and petroleum product exports until the end of December.

Persons: Toshitaka Tazawa, Tazawa, Benjamin Netanyahu, Israel Organizations: Brent, West Texas, Saudi, Fujitomi Securities Locations: San Joaquin Valley, McKittrick , California, China, Saudi Arabia, Russia, Gaza, Moscow, Venezuela's

☆ The Ram 1500 Ramcharger will be a hybrid like a diesel locomotive
▼ + stars: | 2023-11-07 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

CNN —Stellantis’ new Ramcharger pickup, expected to go on sale late next year, will be an “electric” truck, the company says. It will be sold alongside the Ram REV, the company’s actual fully-electric truck, expected to go on sale around the same time. Tim Kuniskis, the head of Stellantis’ Ram truck brand, insisted during a press conference that the Ram 1500 Ramcharger is not a plug-in hybrid. Also, the Ram truck can use DC fast chargers to quickly recharge its batteries. Ram previously unveiled an electric-only truck, the Ram REV, which will also go on sale late next year.

Persons: Tim Kuniskis, Stellantis ’, Ramcharger, Ram, Kuniskis, “, ”, Carlos Tavares, Stellantis hasn’t Organizations: CNN, Toyota Prius, Chevrolet, Toyota Camry, Ford, General Motors

☆ Mexican businesses warmed by glow of 'nearshoring' dawn
▼ + stars: | 2023-11-06 | by ( Noe Torres | ) www.reuters.com time to read: +4 min

MEXICO CITY, Nov 6 (Reuters) - Mexican businesses, particularly those linked to real estate and construction, are counting on investment from so-called "nearshoring" to boost profits and economic growth, especially in industrial zones near the U.S. border. "Many companies are already talking about this - about nearshoring and the economic benefits," said Gerardo Copca, an analyst at consultancy MetAnalisis. One notable project - electric vehicle maker Tesla's plans for a reported $5 billion factory in northern Mexico - has been credited with attracting $1 billion in Chinese investments to nearby industries. Mexican real estate investment trust Fibra Uno (FUNO11.MX) plans to launch a trust allowing investors to cash in on expected growth of industrial assets. Total Mexican construction output jumped almost by 46% in August year-on-year, with northern states performing strongly.

Persons: Gerardo Copca, Nearshoring, Fibra Uno, Andre El, Mann, AMPIP, Lorenzo Berho, El, Berho, Enrique Navarro, Andres Manuel Lopez Obrador's, Noe Torres, Dave Graham, David Alire Garcia, Christian Plumb, Josie Kao Organizations: MEXICO CITY, Fibra, Banco Regional, U.S, UBS, Cement, GCC, Thomson Locations: MEXICO, U.S, Mexico, Asia, Mexican, Queretaro, Guanajuato, Jalisco, United States, Canada, China, Swiss, Chihuahua, Texas

☆ Why the Trump trials should be on camera
▼ + stars: | 2023-11-06 | by ( Zachary Wolf | Analysis Zachary B. Wolf | ) edition.cnn.com time to read: +9 min

CNN —If you were to dream up a hypothetical case that demanded cameras in federal courts, it would be United States of America v. Donald J. Trump. The importance the coming four criminal trials will play in the 2024 election cannot be overstated. Supreme Court justices, as we’ve previously written in this newsletter, frequently endorse the idea of cameras in the courtroom right up until they get that lifetime Supreme Court appointment. In the Senate, there is a bipartisan proposal to require the Supreme Court to allow cameras in its courtroom. That’s not exactly what we’re talking about with the criminal trials of Trump in the lower federal court, but it does suggest bipartisan openness to the issue of making courts more transparent.

Persons: Donald J, Trump, Arthur Engoron, it’s, —, Biden, ”, Tanya Chutkan, Chutkan, Laura Coates, “, Jack Smith, Gabe Roth, John Roberts, Mike Johnson, That’s Organizations: CNN, Trump, he’s, New, The New York Times, Siena College, Washington , D.C, Media, Broadcasting, Judicial Conference, Supreme Locations: United States, America, New York, Georgia, Washington ,, —, Arizona , Georgia, Michigan, Nevada , Pennsylvania, Wisconsin, Washington , DC

Interest rates for long-term borrowing for capital improvements also would be less costly for Pine Tree Power. The anger and frustration from electric ratepayers in Maine is a far cry from the days when Iberdrola bought Central Maine Power, the state’s largest electric utility. The privately operated, nonprofit Pine Tree Power utility would contract with a private grid operator through a competitive bidding process. But Pine Tree Power would face some of the same constraints as CMP and Versant. And, like the existing utilities, Pine Tree Power would have no control over the actual cost of electricity, which comprises about half of consumers' monthly bills.

Persons: Mainers, ”, Timothy Cox, Janet Mills, William Harwood, Seth Berry, Harwood, Ann, Ursula Schryver, Schryver, Mike Jacobs, Jacobs, who's, Christie Decker, “, Decker, Freed, Willy Ritch, ” Al, David Sharp, @David_Sharp_AP Organizations: Central Maine Power, Energy Partners, Democratic Gov, Maine Public, CMP, Nationwide, American Public Power Association, Union of Concerned Scientists, Iberdrola, Maine, Tree, Maine Affordable Energy Coalition Locations: PORTLAND, Maine, U.S, Washington, Tree, Francisco, San Diego, Ann Arbor , Michigan, Rochester , New York, Nebraska, Boston, Wilton, Pine, ” Al Cleveland

☆ Opinion | ‘Now and Then, I Miss You’: The Love Story at the Heart of the Last Beatles Song
▼ + stars: | 2023-11-05 | by ( Ian Leslie | ) www.nytimes.com time to read: +1 min

Sixty-one years after releasing their first single, “Love Me Do,” the Beatles have released their last. Inside the story of “Love Me Do” to “Now and Then” is the love story of John Lennon and Paul McCartney — which is our story, too. Beatles songs still speak to us so directly because they are vehicles for the transmission of feelings too powerful for normal speech. They gained their emotional education from music, especially the music of Black artists like Smokey Robinson, Arthur Alexander and the Shirelles. Almost everything they felt — and they felt a lot — was poured into music, including their feelings about each other.

Persons: “, John Lennon, Paul McCartney, Taylor Swift, Billie Eilish, Lennon, McCartney, Smokey Robinson, Arthur Alexander Organizations: Beatles

☆ Can Voters Fire Their Power Companies? Maine Is About to Find Out
▼ + stars: | 2023-11-04 | by ( Jon Kamp | ) www.wsj.com time to read: 1 min

The proposed consumer-owned utility would take over power delivery, including thousands of miles of transmission and distribution lines the two current utilities collectively own. Photo: Robert F. Bukaty/Associated PressMaine’s voters will decide Tuesday whether to take a rare step: a hostile takeover of their biggest electric companies. A measure on the ballot there would create a consumer-owned replacement called “Pine Tree Power” by buying out two investor-owned companies that currently serve nearly all Mainers. Proponents, which include some environmental groups, politicians and a nursing union, say wresting control from the for-profit companies will eventually lead to lower bills, better customer service and a speedier shift to renewable power. Utilities and Maine’s governor say takeover would saddle the state with debt.

Persons: Robert F Organizations: Press, Utilities, Maine’s

☆ Russian forces want to capture big coking plant in key town, mayor says
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +3 min

Nov 3 (Reuters) - Russian forces, focused for weeks on seizing the key eastern Ukrainian town of Avdiivka, are now intent on capturing its vast coking plant, the town's mayor said on Friday. Mayor Vitaliy Barabash, speaking on national television, said audio transmission intercepts had revealed that Moscow was now seeking to secure the town's giant coking plant. Ukrainian military analysts say a sustained assault on Avdiivka had more political that military significance and could be little more than a propaganda prize for Moscow. The General Staff report also reported that Ukrainian forces had repelled seven attacks near Kupiansk, a town in the northeast first seized by Russia but recaptured by Ukrainian forces in a fast-moving offensive late last year. Russian accounts of the fighting said Moscow's forces beat back Ukrainian attempts to advance near Kupiansk and struck Ukrainian forces in a series of towns south and west of Donetsk.

Persons: Vitaliy Barabash, Barabash, Avdiivka, Natalia Homeniuk, Homeniuk, Volodymyr Zelenskiy, Ron Popeski, Michael Perry Organizations: Russian, Ukraine's, Staff, Moscow, The, Reuters, Thomson Locations: Ukrainian, Avdiivka, Donetsk, Luhansk, Russian, Bakhmut, Moscow, Kupiansk, Russia, Kharkiv, Odesa, Kherson, Lviv, Ukraine's, Poland, Ukraine

☆ Russian Forces Want to Capture Big Coking Plant in Key Town, Mayor Says
▼ + stars: | 2023-11-03 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +3 min

(Reuters) - Russian forces, focused for weeks on seizing the key eastern Ukrainian town of Avdiivka, are now intent on capturing its vast coking plant, the town's mayor said on Friday. Mayor Vitaliy Barabash, speaking on national television, said audio transmission intercepts had revealed that Moscow was now seeking to secure the town's giant coking plant. Ukrainian military analysts say a sustained assault on Avdiivka had more political that military significance and could be little more than a propaganda prize for Moscow. The General Staff report also reported that Ukrainian forces had repelled seven attacks near Kupiansk, a town in the northeast first seized by Russia but recaptured by Ukrainian forces in a fast-moving offensive late last year. Russian accounts of the fighting said Moscow's forces beat back Ukrainian attempts to advance near Kupiansk and struck Ukrainian forces in a series of towns south and west of Donetsk.

Persons: Vitaliy Barabash, Barabash, Avdiivka, Natalia Homeniuk, Homeniuk, Volodymyr Zelenskiy, Ron Popeski, Michael Perry Organizations: Reuters, Russian, Ukraine's, Staff, Moscow, The Locations: Ukrainian, Avdiivka, Donetsk, Luhansk, Russian, Bakhmut, Moscow, Kupiansk, Russia, Kharkiv, Odesa, Kherson, Lviv, Ukraine's, Poland, Ukraine

Maine is the latest state to address foreign influence in elections. The Maine referendum on the Nov. 7 ballot would ban foreign governments, or companies with 5% or more foreign government ownership, from donating to future referendum races. The Maine proposal is straightforward by targeting foreign governments and companies owned by them, while leaving untouched foreign-based corporations with no government ownership. The idea of foreign influence in U.S. elections is something that unites people in an era of deep partisan divisions. “Of course we shouldn’t have foreign governments meddling in our elections.”___Follow David Sharp on X, the platform formerly known as Twitter, @David_Sharp_AP

Persons: Aaron McKean, McKean, Daniel Weiner, It’s, ” Weiner, “, Sen, Rick Bennett, —, Janet Mills, Maine’s, ”, Sarah Walker, Bennett, George Washington, David Sharp, @David_Sharp_AP Organizations: —, Hydro, Washington , D.C, Brennan Center for Justice, Hydro Quebec, Central Maine Power, CMP, Canadian, Republican, Democratic Gov, Maine Press Association, Maine Association of Broadcasters, Norges Bank, Qatar Investment Authority Locations: PORTLAND, Maine, — Maine, Hydro Quebec, Canadian, Washington ,, Minnesota, Florida, Idaho, Seattle, Portland , Maine, U.S, ” Maine, Spanish, In Montana, California, Luxembourg, Cyprus, Los Angeles, Canada, Calgary, Alberta, Qatar

☆ Europe’s gas prices are a worry ahead of winter despite brimming stores
▼ + stars: | 2023-11-02 | by ( Anna Cooban | ) edition.cnn.com time to read: +8 min

But while gas shortages are unlikely in Europe this winter, the price of the fuel remains a worry. According to S&P Global, about one-fifth of global LNG supply travels through the channel on Iran’s south coast. In a less jittery market, neither incident may have had the effect it did, helping boost European gas prices by more than 40% over the course of a single week. High gas prices have presented a persistent economic headwind for Europe's biggest economy due to its reliance on energy-intensive industries. Together, these milestones should push European gas prices down to €30 ($32) per megawatt hour by the end of next year, Weatherburn added.

Persons: Asia —, Soeren, ”, Jack Sharples, Heikki Saukkomaa, Simone Tagliapietra, Bill Weatherburn, Stefan Sauer, Weatherburn, “ Organizations: London CNN, European Union, International Energy Agency, EU, Getty, “, Oxford Institute of Energy Studies, CNN, Hamas, P, Chevron, Egyptian, Steam, ”, Capital Economics, Qatar, Energy Locations: Russia, Moscow, Ukraine, Europe, North America, Asia, Norway, Hungary, Austria, Azerbaijan, Algeria, Germany, Israel, Gaza, Hormuz, Jordan, Egypt, Cairo, Estonia, Australia, AFP, “, ” Europe, France, Italy, Lubmin, Pomerania, United States, Qatar

LONG BEACH, Calif. (AP) — Two people in Southern California have come down with dengue fever without traveling outside the United States, where the mosquito-borne illness is rare, health officials said. A Pasadena resident was confirmed to have dengue last month but is recovering, officials said. “This is the first confirmed case of dengue in California not associated with travel and is instead an extremely rare case of local transmission in the continental United States,” the Pasadena Public Health Department announced. On Wednesday, Long Beach officials announced another domestically contracted dengue case and said that person has recovered. The new California cases were not part of that count.

Organizations: Pasadena Public Health Department, Long Beach, U.S . Centers for Disease Control Locations: Calif, Southern California, United States, Pasadena, California, U.S, Puerto Rico, Florida, Texas

☆ China is cracking down on weather stations it says are spying for foreign countries
▼ + stars: | 2023-11-01 | by ( Nectar Gan | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —China is cracking down on weather stations it says are spying for foreign countries, the latest measure in a broad counter-espionage campaign under leader Xi Jinping amid intensifying geopolitical tensions. Some stations were set up around sensitive sites such as military bases and defense companies to locate altitude and GPS data, the spy agency said. The authorities made the discovery after investigating more than 10 overseas meteorological equipment agents and inspecting more than 3,000 foreign-linked meteorological stations nationwide. “Meteorological data… is an integral part of data security and resource security. It’s closely linked to military, food, and ecological security, climate change, and public interests,” the Ministry of State Security said.

Persons: Xi Jinping, William Burns, “ Organizations: Hong Kong CNN, Ministry of State Security, Embassy, Twitter, United, China’s Ministry of State Security, CIA Locations: Hong Kong, China, Beijing, United States, Washington

☆ The drones fighting cat and mouse battles behind Russian front lines in Ukraine
▼ + stars: | 2023-11-01 | by ( Max Hunder | ) www.reuters.com time to read: +4 min

[1/6] Serviceman of the 15th Separate Artillery Reconnaissance Brigade of the Armed Forces of Ukraine, callsign Buryi, 30-years-old, checks a Shark drone before launching, amid Russia's attack on Ukraine, in Kharkiv region, Ukraine, October 30, 2023. On this occasion the drone that had found the target for the artillery unit was temporarily incapacitated when Russian electronic jamming systems interrupted the video transmission. Ukraine uses an array of drones from established local manufacturers and startups as well as Western suppliers, both to locate targets and hit them directly. The crew said Ukrainian-made drones were usually easier to repair if damaged, as they could be quickly sent back to the manufacturer. "Artillery has been the god of war for a long time, and artillery reconnaissance is the eyes of the gods," said Soliara, the rumble of cannon fire audible in the distance.

Persons: Alina Smutko, Oleksandr Popov, Max Hunder, Mike Collett, White, Philippa Fletcher Organizations: Artillery Reconnaissance Brigade, Armed Forces of, REUTERS, Artillery Reconnaissance, Reuters, Shark, Star Wars, Artillery, Thomson Locations: Armed Forces of Ukraine, Ukraine, Kharkiv region, Ukraine Russia, KHARKIV, Ukrainian, Kharkiv, Russia

Bank of Japan Governor Kazuo Ueda attends a press conference after its policy meeting in Tokyo, Japan October 31, 2023, in this photo taken by Kyodo. In addition, interest rate changes were asymmetric — Fed rate hikes following stock market recoveries were usually muted compared with the initial cuts. This was an explicit, open-ended policy to hold the currency at a set level and flood the Swiss economy and markets with oceans of liquidity, but essentially still a central bank put. As Marc Chandler at Bannockburn Global Forex points out, it is financial stability that is ultimately - and rightly - at the heart of the so-called central bank put. "There is a perception or myth that has built up around the central bank put.

Persons: Kazuo Ueda, Alan Greenspan, Louis, William Poole, Greenspan, Steven Englander, Marc Chandler, Chandler, Jonathan Oatis Organizations: Japan, Kyodo, REUTERS Acquire, Rights, Bank of Japan, Federal Reserve, Louis Fed, Swiss National Bank, Standard Chartered, National Bureau of Economic Research, Swiss, Reuters, Bannockburn Global, Thomson Locations: Tokyo, Japan, Rights ORLANDO , Florida, New York, Switzerland, Swiss, Bannockburn

☆ Indonesia, Vietnam energy transition financing under G7-funded plans
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +5 min

South Africa was the first country to reach a deal under the JETP, securing a $8.5 billion financing pledge in 2021. Indonesia secured a pledge of $20 billion and Vietnam $15.5 billion in deals struck in late 2022. Without the plan, Indonesia's greenhouse gas emissions are expected to reach more than 350 million tons in 2030. How would the JETP financing be arranged? G7 donors as well as Norway and Denmark have pledged a total $10 billion public financing for Indonesia while the remaining $10 billion will come from public financing.

Persons: they'll, Quoc Khanh, Fransiska Nangoy, Khanh Vu, Francesco Guarascio, Robert Birsel Organizations: REUTERS, Rights, Climate, Asian Development Bank, Natural Resources, Reuters, European Union, Thomson Locations: Hanoi, Rights JAKARTA, HANOI, Indonesia, Vietnam, Africa, Senegal, INDONESIA Indonesia, Norway, Denmark, VIETNAM, EU

☆ It’s All About the Grid
▼ + stars: | 2023-10-31 | by ( David Gelles | More About David Gelles | ) www.nytimes.com time to read: +1 min

The clean energy will have nowhere to go. Point A to Point BIt’s easy to lose sight of the importance of the grid, and just how much work needs to be done. But clean power sources are often situated far from cities where the most people live. As Brad has reported, the boom in clean energy ventures has also overwhelmed the system for connecting new power sources to homes and businesses. “Sometimes you have existing lines where they are basically at capacity, they’re full and they can’t handle adding more wind power or solar power,” Brad said.

Persons: there’s, Brad, ” Brad Organizations: Department of Energy Locations: U.S, United States

The deal represents a bet on energy transition, as power utilities, grid operators and renewable energy developers turn to simulation software to fine-tune use of production capacity and maximize efficiencies. Vista, Blackstone, Riverside and Energy Exemplar declined to comment. Energy Exemplar has grown at an annual compound rate of 30% since 2018 under Riverside's ownership, the sources said. Blackstone is investing in Energy Exemplar through its energy transition arm, which is in the process of raising a new fund. Its previous investments include Transmission Developers, solar mounting firm Esdec, environmental engineering firm Geosyntec, environmental commodity exchange Xpansiv, and renewable energy firm Invenergy.

Persons: Blackstone, Anirban Sen, Edwina Gibbs Organizations: Blackstone Group, REUTERS, Blackstone, Vista Equity Partners, Australia's, . Energy, Riverside Company, Blackstone Energy, Partners, U.S . Securities, Exchange Commission, The, Developers, Foundation, Thomson Locations: New York City, U.S, Vista, Blackstone, Riverside, North Adelaide, The New York, New York

☆ UAW strike: GM and union reach tentative labor agreement
▼ + stars: | 2023-10-30 | by ( Vanessa Yurkevich | Chris Isidore | ) edition.cnn.com time to read: +6 min

Neither the union nor GM would confirm the tentative deal. Most recently that happened at Mack Trucks, where nearly 4,000 UAW members went on strike on October 8 after voting no on their own tentative agreement. There are a total of more than 18,000 UAW members at GM now on strike, though they could be returning to work within days. The strike had a total of nearly 50,000 UAW members on strike at one point or another, although not all at the same time. During the UAW strike, a coalition of unions at Kaiser Permanente had 75,000 workers walk out in the largest US health care strike in history.

Persons: Stellantis, Mack Trucks, Fain, Ford, Joe Biden, Biden, Betsy Klein Organizations: New, New York CNN —, Motors, United Auto Workers, America’s, Ford, GM, UAW, Mack, EV, Air Force, Kaiser Permanente Locations: New York, Spring Hill , Tennessee, Arlington , Texas, Fargo, Michigan, Delaware

☆ Italy's Prysmian lands Clean Path New York cable deal
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

Companies Prysmian SpA FollowOct 30 (Reuters) - Italian cable maker Prysmian (PRY.MI) said on Monday it had signed a deal worth about 900 million euros ($954 million) with a public-private consortium to supply a submarine and land power cable system in the state of New York. Prysmian said in a statement that it will design, manufacture, construct, install and commission a high-voltage direct current (HVDC) 400 KV (kilovolt) single core cable system with XLPE insulation for Clean Path New York, a renewable energy project that is worth $11 billion in total. The joint venture between Invenergy, energyRe, and the New York Power Authority, comprises 3,800 MW (megawatt) of wind and solar power from more than 20 new resources and a 175-mile (281.64 km), underground and submarine transmission link. Works are conditionally expected to start in spring 2024. ($1 = 0.9433 euros)Reporting by Alessandro Parodi and Alberto Chiumento in Gdansk; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Prysmian, Alessandro Parodi, Alberto Chiumento, Alexander Smith Organizations: New York Power Authority, Thomson Locations: New York, York, Invenergy, Gdansk

☆ Energy Dept. Pours Billions into Power Grids but Warns It’s Not Enough
▼ + stars: | 2023-10-30 | by ( Brad Plumer | More About Brad Plumer | ) www.nytimes.com time to read: +1 min

The Energy Department on Monday announced $1.3 billion to help build three large power lines across six states, part of a new gusher of money from Washington to upgrade America’s electric grids so they can handle more wind and solar power and better tolerate extreme weather. In a major report published the same day, the Energy Department said that the nation’s vast network of transmission lines may need to expand by two-thirds or more by 2035 to meet President Biden’s goals to power the country with clean energy. That would help slash carbon dioxide emitted by gas and coal-fired electric plants — pollution that is heating the planet. “We need to seriously build out transmission,” Energy Secretary Jennifer Granholm said. The nation’s electric system is divided into a patchwork of regions, each overseen by different operators.

Persons: Biden’s, Jennifer Granholm Organizations: Energy Department, ” Locations: Washington

☆ Siemens Energy shares recover further as guarantee talks continue
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +3 min

The logo of energy technology company Siemens Energy is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo Acquire Licensing RightsFRANKFURT/BERLIN, Oct 30 (Reuters) - Shares in Siemens Energy continued their recovery on Monday, topping Germany's blue-chip index as concerns over the group's ability to post guarantees for big industrial projects eased. Siemens (SIEGn.DE), which owns a 25.1% stake in Siemens Energy, was up 1.6%. News of the talks pushed Siemens Energy's shares to a record low last week on concerns the issue around guarantees could have an impact on the group's balance sheet. Around half of that, or about 15 billion euros, needs to be covered by the government, banks and Siemens, the sources said.

Persons: Chris Helgren, Joe Kaeser, Kaeser, Christoph Steitz, Markus Wacket, Rachel More, Mark Potter Organizations: Siemens Energy, REUTERS, Siemens, German Economy Ministry, Reuters, Welt, Thomson Locations: Vancouver , British Columbia, Canada, FRANKFURT, BERLIN, downpayments

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