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"If the Chinese engineers don't arrive on time, then our cell line production will get impacted," Log9's co-founder and director, Pankaj Sharma, told Reuters. A delay of about four months in the issue of visas would hamper the speed at which its factory reaches peak production levels, Sharma said. Log9's Bengaluru factory, its only manufacturing unit currently, has an annual installed capacity of 250 MWh of battery production. Log9 has sold over 1,000 battery units so far in 2023 after clocking sales of 4,000 units last year, according to Sharma, who declined to disclose the production figures. The company will begin the next funding round by the end of this year or early next year, Sharma said.
Persons: Pankaj Sharma, Sharma, Amara Raja, Rama Venkat, Dhanya Skariachan, Eileen Soreng Organizations: Reuters, Maersk, Blue Dart Express, Quantum Energy, Hala, Malaysia's Petronas, Thomson Locations: BENGALURU, Bengaluru, New Delhi, China, India
The Dharavi slum, about three-quarters the size of New York's Central Park, featured in Danny Boyle's Oscar-winning 2008 movie "Slumdog Millionaire". Only those who already lived in Dharavi before 2000, mostly ground-floor residents, will get free homes within the redevelopment. In interviews with Reuters, some Dharavi residents cited the billionaire's financial troubles as contributing to their concerns. Last month, a Mumbai court allowed SecLink to add Adani to its lawsuit, forcing the conglomerate to defend its position before judges. In early August, about 300 opposition supporters and residents gathered in Dharavi to object to Adani's involvement.
Persons: Adani, Gautam Adani's, Narendra Modi's, Danny Boyle's Oscar, SecLink, Eknath Shinde, Modi, Maharashtra's, Sandeep Shastri, Rajendra Korde, Radha Pawar, Srinivas, Mohammad Hasmat Ullah, Ullah, Dhwani Pandya, Aditya Kalra, Arpan Chaturvedi, Francis Mascarenhas, David Crawshaw Organizations: Adani, Consultancy, Reuters, SecLink Technologies Corporation, The, Modi's Bharatiya Janata Party, BJP, Modi's BJP, India's, Trust, Reuters ., Dharavi, Committee, Authority, Dhwani, Thomson Locations: Dubai, MUMBAI, rehouse, Dharavi, Maharashtra, The Dubai, Mumbai, Gujarat, snowballing
London CNN —If you drive an older, polluting car anywhere in London, starting Tuesday you’ll have to pay a princely charge of £12.50 ($15.70) per day. That followed the implementation of road pricing in 2003 aimed at reducing congestion in central London. The charge applies 24/7 to gasoline cars generally first registered before 2006 and diesel cars registered before October 2015. New York City is now finally catching up. The New York toll is designed to lower the number of vehicles entering the congestion zone by at least 10% every day.
Persons: Sadiq Khan, Kathy Hochul, , Boris Johnson, Khan Organizations: London CNN, , Gov, US Department of Transportation, New, Uxbridge, Khan’s Labour Party, Conservative Locations: London, Stockholm, Singapore, New York City, Manhattan, York, New Jersey, New York
On a sunny afternoon in a cluttered music room at East High in Denver, two sophomores practiced violin while their music teacher, Keith Oxman, labored over a desk in an adjoining office. East High is Denver’s largest high school and among the oldest, and there is no modern ventilation system. As the pandemic broke out, Mr. Oxman, 65 and a cancer survivor, feared getting sick or carrying the virus to his 101-year-old father. So he left the school when it first closed, in March 2020, and did not return for more than a year, staying home during later virus surges. “But the windows don’t open.”Poorly ventilated spaces offer ideal transmission conditions for the coronavirus, and at the height of the pandemic, schools like East High were a searing point of controversy.
Persons: Keith Oxman, Oxman, Organizations: East High Locations: Denver
"A couple times of year, go over the surface with a brush attachment," he said. "If you're crazy about it, you could use a steam cleaner. But I don't think that's necessary."
Indian interlopers can disrupt global mining M&A
  + stars: | 2023-08-25 | by ( Pranav Kiran | ) www.reuters.com   time to read: +3 min
BENGALURU, Aug 25 (Reuters Breakingviews) - An Indian tycoon has a powerful motive to throw himself into some global mining M&A. Sajjan Jindal is looking to pull together a consortium to take a 75% stake in the coal unit of Canadian miner Teck Resources (TECKb.TO), according to Bloomberg. Such a move would pit his $23 billion Mumbai-listed JSW Steel (JSTL.NS) against a rival $8 billion bid by Swiss commodities giant Glencore (GLEN.L). In North America, JSW already has steel plants in Ohio and Texas, and coal mining facilities in West Virginia. Anchoring a consortium bid makes sense but if push comes to shove, Indian tycoons can afford to be aggressive interlopers.
Persons: Sajjan Jindal, Jindal, JSW, Una Galani, Thomas Shum Organizations: Reuters, Teck Resources, Bloomberg, Tata Steel, Steel Authority of India, South, JSW, Elk Valley Resources, Deloitte, Chamber of Commerce, Thomson Locations: BENGALURU, Teck, Mumbai, India, JSW, Australia, Ukraine, North America, Ohio, Texas, West Virginia, Teck Resources, Elk Valley, Elk
Roughly 7% of all carbon emissions today come from cement production, making it one of the highest-emitting industrial sectors, according to the consulting firm McKinsey. PREVIEW“Concrete is an essential building material,” said Claude Loréa, director of cement, innovation and ESG at the Global Cement and Concrete Association. About two thirds of the clinker emissions are released by the limestone when heated while the rest come from the combustion of fuels to create the heat. Increased efficiencyOne way the industry is looking to improve sustainability in cement production is by targeting efficiency gains. Cemex, one of the world’s largest cement producers, has been working with Switzerland-based Synhelion to produce clinker using solar energy rather than coal.
Persons: , Claude Loréa, Aidan O’Sullivan, ” O’Sullivan, Gianluca Ambrosetti, Christoph Beumelburg, Rick Fox, Fox, Partanna, Hurricane Dorian, Yusuf Khan Organizations: McKinsey, Sustainable Business, Global, Concrete Association, Carbon Re, International Energy Agency, IEA, Shell, National Basketball Association Locations: portland, Spain, Switzerland, Heidelberg, Brevik, Norway, Bergen, , Delaware, Bahamas, Vegas, yusuf.khan
Steel Is Getting Cleaner
  + stars: | 2023-08-24 | by ( David Gelles | More About David Gelles | ) www.nytimes.com   time to read: 1 min
Steel is the backbone of the modern economy, essential for building skyscrapers, wind turbines, planes, trains and automobiles. It’s also incredibly dirty, responsible for about 7 percent of global carbon emissions. Experts have long regarded the steel industry as a hard-to-abate sector — a corner of the economy where phasing out planet-warming emissions is particularly tough. Most steel plants emit carbon twice: They heat up coal to create coke, and then burn the coke in massive blast furnaces to melt iron ore.Over the past 12 months, however, the outlook for the industry has changed significantly. Electric arc furnaces, which use scrap metal and electric current instead of iron ore and coke, are on the rise around the world.
Persons: It’s
JAKARTA, Aug 24 (Reuters) - Indonesia's talks with international partners on setting up a $20 billion fund for the country's transition from coal to cleaner energy have taken longer than anticipated and are complicated by rising borrowing costs, its finance minister said on Thursday. It was based on a similar $8.5 billion initiative in 2021 to help South Africa more quickly decarbonise its power sector. Another challenge is it will take time to hold public consultations with communities that could be affected by a project, such as the construction of a renewable power plant, the minister said. Indonesia has been pushing for coal power plant retirement financing to be seen as "acceptable" among global lenders and brought this up at a meeting of G20 finance ministers in July. The Association of Southeast Asian Nations (ASEAN) has included coal power plant retirement in its green taxonomy - a framework defining what investment is considered environmentally friendly.
Persons: Sri Mulyani Indrawati, Sri Mulyani, Gayatri Suroyo, Stefanno Sulaiman, Susan Fenton Organizations: Reuters, International Partners, World Bank, Asian Development Bank, The Association of Southeast Asian Nations, Thomson Locations: JAKARTA, United States, Japan, Indonesia, South Africa, Jakarta
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Persons: Dow Jones, c89ce344
A person carries a bag from the Abercrombie & Fitch store on Fifth Avenue in Manhattan, New York City, U.S., February 27, 2017. The company's eponymous Abercrombie label has also ranked among the top five clothing brands that back-to-school shoppers chose, a survey by William Blair showed. Net sales at the Abercrombie brand jumped 26% in the three months ended July 29, while the Hollister division posted an 8% rise. The company said it now expects net sales to rise around 10% for fiscal 2023, compared with its prior forecast range of 2% to 4% growth. Analysts, on average, had estimated a 3.9% rise to $3.84 billion in revenue, according to Refinitiv IBES data.
Persons: Andrew Kelly, Abercrombie, William Blair, Deborah Sophia, Shweta Agarwal Organizations: Abercrombie, Fitch, REUTERS, U.S, Thomson Locations: Manhattan , New York City, U.S, Ohio, Hollister, Bengaluru
Total power generation across the lower 48 states through Aug. 20, 2023 declined by 2.1% from the same period in 2022, data compiled by Refinitiv shows. All major U.S. power markets increased electricity generation from natural gas in Jan-Aug 2023 from the same period in 2022, and cut generation from coal. Output from clean power sources, including renewables and hydro, increased by 12%, despite drops in output from biomass and wind power sources, and a decline in imports from neighbouring states. Clean power sources accounted for a 57.4% share of the CAISO generation mix, up from 50.7% in January through Aug. 20 in 2022. THE NORTHWEST & THE RESTThe Pacific Northwest of the United States had the steepest decline in clean power generation of all the major power markets in the country.
Persons: Carlos Barria, Gavin Maguire, Sonali Paul Organizations: REUTERS, Electric, of Texas, Reuters, Thomson Locations: Mountain View , California, U.S, LITTLETON , Colorado, Jan, National, TEXAS, Texas, CALIFORNIA, California, United States
"Hybrid is a great alternative to a pure electric vehicle (and) it's an easier sell to a lot of customers." Interest in hybrids is rebounding as consumer demand for pure electrics has not accelerated as quickly as expected. Sales of pure electrics will claim about 37%, leaving combustion vehicles — including so-called “mild” hybrids — with a nearly 40% share. In addition to new pure electric models coming soon, "we are very bullish on hybrids going forward," a spokesperson said. Hyundai and sister brand Kia offer seven hybrid models, with Ford and Lincoln six.
Persons: Mike Blake, Tim Ghriskey, Ingalls, Snyder, , Sam Fiorani, Ford, Jim Farley, ” Farley, , Stellantis, GlobalData, ” Stellantis, Andrew DiFeo, Augustine, Biden, “ I've, I've, Paul Lienert, Ben Klayman, Nick Zieminski Organizations: Toyota, Los Angeles Auto, REUTERS, Rights, Ford, Reuters, AutoForecast Solutions, P Global, General Motors, Chrysler Pacifica, U.S, Lexus, Hyundai, Kia, Lincoln, Chevrolet Corvette, Thomson Locations: Los Angeles , California, U.S, America, New York, St, Jacksonville , FL, Detroit
Nuclear power has been touted as a proven, safe way of producing clean energy, but why isn't it more widely adopted? Schroders noted that nuclear power is not only scalable, but much cleaner — emitting just 10-15 grams of CO2 equivalent per kilowatt hour. That's the reason why nations are having a second look at nuclear power, Shellenberger said. A report by global campaigning network Greenpeace in March 2022 was of the position that besides the commonly held concern of nuclear safety, nuclear energy is too expensive and too slow to deploy compared to other renewables. Greenpeace acknowledged that "all in all, nuclear power stations score comparable with wind and solar energy."
Persons: Sean Gallup, Michael Shellenberger, Schroders, Shellenberger, we're, CNBC's, Adam Fleck, hasn't, Fleck Organizations: Getty, Greenpeace, CNBC, Governments, International Energy Agency, Soviet Union Locations: U.S, Ukraine, Fukushima, Japan
CNN —A large red cargo ship named Pyxis Ocean set out on its maiden voyage this month. The ship, chartered by US shipping firm Cargill, has been retrofitted with two WindWings – large steel sails 37.5 meters (123 foot) tall, designed by UK company BAR Technologies and produced by industrialization partner Yara Marine Technologies. Huge kites and rotor technologies have been tried on cargo ships in attempts to reduce their dependence on diesel. John Cooper, CEO of BAR Technologies, tells CNN that having the company on board has been essential in building momentum for WindWings. “We look forward to supporting the global shipping industry as it transitions to greener, cleaner propulsion and design,” he says.
Persons: Cargill, it’s, Cargill –, John Cooper, , , Cooper Organizations: CNN, BAR Technologies, Yara Marine Technologies, International Windship Association, European Union, BAR, Vale Locations: China, Brazil, Shanghai, Singapore
[1/5] Pyxis Ocean retrofitted with WindWings sets sail during its maiden voyage, in this undated handout picture, Mid-Sea, August 2023. Cargill, one of the world’s biggest ship charterers, has been exploring wind assisted propulsion as one cleaner energy option. Pyxis Ocean will sail from Singapore and head to Brazil and is likely to transport a cargo of grain to Denmark, Dieleman said. The vessel is then likely to remain in the north Atlantic area to maximise wind usage, he added. BAR Technologies, which has designed boats for the America's Cup, developed the sails, which were built by Norway's Yara Marine Technologies.
Persons: Jan Dieleman, Dieleman, Cargill, Norway's, Jonathan Saul, Kirsten Donovan Organizations: Cargill, Handout, REUTERS Acquire, Reuters, BAR Technologies, Norway's Yara Marine Technologies, Thomson Locations: U.S, Singapore, Brazil, Denmark
Goldman Sachs reiterates Palo Alto Networks as buy Goldman said it's standing by its buy rating on the stock following its earnings report on Friday evening. Citi reiterates Snowflake as buy Citi said it's sticking with its buy rating heading into earning later this week. Bank of America reiterates Amazon as buy Bank of America said Amazon continues to gain share. Bank of America reiterates Walmart as buy Bank of America said Walmart is better positioned in the current environment over Target. Bank of America reiterates Salesforce as buy Bank of America said Salesforce is the "next quality GARP stock."
Persons: Goldman Sachs, Goldman, Snowflake, Morgan Stanley, Jefferies, Read, Tim Hortons, Burger King, Patrick Doyle, Salesforce, Baird, it's, Raymond James, Marvell, Scott Mlyn Organizations: Credit Suisse, Disney, Networks, Citi, Taiwan Semiconductor, Bank of America, of America, China, Volkswagen, VW, JPMorgan, Brands, Restaurant Brands, " Bank of America, Walmart, Nvidia, Live Nation Entertainment, CNBC Locations: New York
The Y Combinator-backed Seabound believes its on board carbon-capture tech can play a key role. Fredriksson is the cofounder and CEO of Seabound, a climate-tech startup that aims to lower the greenhouse-gas emissions produced by the shipping industry. Seabound, backed by the famed accelerator Y Combinator, has built a carbon-capture machine that can be retrofitted onto ships. Having tested it on land, Seabound is now using a commercial container ship as its lab in a pilot project with the London-based shipping company Lomar Shipping. Fredriksson added that Seabound's reaction was exothermic, meaning it needed an injection of heat to get started but then was self-sustaining.
Persons: Seabound, Alisha Fredriksson didn't, Fredriksson, It's, Stephen Turnock, Ed Phillips, Alisha Fredriksson, Wen, Turnock, Alisha Fredriksson Decarbonization, we're, We're, Capital's Phillips, Leapfrogging Organizations: Shipping, Maritime Organization, Service, University College London, University Maritime Advisory Services, Southampton University, International Maritime, Planet Capital, Lomar Shipping, Ships Locations: Wall, Silicon, London, Yalova, Turkey
Whether mandatory return-to-office policies will make the climate crisis worse is an important question, especially as scientists predict that 2023 will be the hottest year on record. But determining whether working from an office is worse for the planet isn't that simple. Failing to find a balance between boosting productivity at the office and protecting the planet risks making the crisis worse. Even though the study only covered the early part of the pandemic, it illustrated how a shift away from office work can have some positive effects for the planet. "There was no clear answer to whether work from home was better or worse for the environment in general terms."
Persons: Rachel, it's, JPMorgan Chase, James Elfer, Elfer, It's, Ty Colman, Colman, Ralf Martin, Martin, teleworking, Megan Litke, We've, Litke, Efler, Operta's Colman, JPMorgan Chase —, Apple, Tony Johnson, Schneider, Johnson, That's, she's, Catherine Boudreau Organizations: Amazon, Google, JPMorgan, Fortune, Employees, Greenhouse, International Energy Agency, IEA, Imperial College Business School, American University, Energy, Target, Dell, Apple, Schneider Locations: , Maryland, Greater London, London, Washington , DC, Williams, Sonoma, North America
In 2023, Roblero found more clients and started making money from car detailing videos posted on his YouTube channel. But he kept thinking about starting a car detailing business, inspired by the effort he put into maintaining his own vehicle. But by then, he was earning enough to leave his 9-to-5 and focus on the car detailing business full-time. In January 2023, he started a YouTube channel, where he shares weekly behind-the-scenes videos of his car detailing process. But in September 2020, just three months after he started the company, Roblero's father collapsed from cardiac arrest.
Persons: Randy Roblero's, isn't, It's, Roblero, Randy Roblero, Mickey Todiwala, Randy, Donald Trump's, Roblero's, I'm Organizations: CNBC, YouTube, Nissan Altima, Palm Beach State College, Facebook, Google, Transportation, Sam's, Walt Disney World, Ford Locations: Palm Beach, West Palm Beach , Florida, Florida, hustles, Bailey , North Carolina, Guatemala, United States, , Lago, America
It has been one year after President Biden's Inflation Reduction Act went into law. Passing the Inflation Reduction Act last August was anything but easy. One year to the day after President Biden's Inflation Reduction Act was passed seems like the perfect time to look back on its effects — and to look forward at which stocks could reap the benefits. Bank of America: The Inflation Reduction Act is WorkingIn mid-July, Bank of America ESG strategists Dimple Gosai and Megan Mantaro took a deep dive into the Inflation Reduction Act and the stocks that will feel the greatest impact from increased manufacturing spending. Within these themes, the strategists found 37 stocks that they believe will see the biggest benefits of the Inflation Reduction Act.
Persons: Biden's, Sen, Joe Manchin, Dimple Gosai, Megan Mantaro, Mantaro Organizations: Bank of America, GOP, Infrastructure Investment, Jobs, EVs, EV Locations: Georgia, South Carolina , Tennessee, Kentucky
August 16 - The Houston Astros will try to slow down Jorge Soler on Wednesday night when they face the host Miami Marlins in the rubber match of a three-game series. "I think he's becoming a better hitter, too. I think he's becoming a complete hitter the way he's hitting to (the) opposite field, he's hitting pull, dead center. So I think he's more of a complete hitter than just a power hitter, and it's been great to watch." The Marlins are 15-9 this year when Luzardo starts, though he has lost his past two outings.
Persons: Jorge Soler, Soler slugged, Giancarlo Stanton, Marcell Ozuna, Skip Schumaker, he's, Luis, Arraez, It's, it's, Soler, Jesus Luzardo, Justin Verlander, Luzardo, Verlander, Jose Altuve, Altuve, We've, Dusty Baker, you've, Jazz Chisholm, Bryan De La Cruz, Chisholm Organizations: Houston Astros, Miami Marlins, Astros, Marlins, Miami, Wednesday, Veteran, Houston, New York Mets, Thomson Locations: Miami's, Luzardo, Houston, Miami
Carbon capture, utilization and storage processes have been around for half a decade, but are currently gaining momentum. Some focus on modifying already-standing power as well as industrial plants that work on carbon capture. Put more succinctly, Deutsche Bank analyst James Hubbard called carbon capture "simple in theory" but "capital intensive and divisive" in reality. He also noted the company has one of the industry's largest carbon capture positions. Staphos cited the potential of its carbon capture operations as a long-term reason to be optimistic, even as its more traditional end-market, homebuilding, faces near-term pressure.
Persons: CCUS, Worley, Wood MacKenzie, Goldman Sachs, Jan Hatzius, Hatzius, James Hubbard, Goldman's Brian Singer, Baker Hughes, Goldman, Ati Modak, hasn't, Stephens, Mike Scialla, Scialla, George Staphos, Staphos, — CNBC's Michael Bloom Organizations: Big, International Energy Agency, U.S . Department of Energy, Battelle, Carbon Technologies, Occidental Petroleum, Carbon Engineering, Energy, Deutsche Bank, Wall Street, Occidental Petroleum . Energy, Baker, Occidental, of Energy, Bank of America, Weyerhaeuser, Bloom Energy, CF Industrial, Honeywell, KBR, Linde, Nutrien, Teledyne, Refinitiv Locations: Vermont, stoke, Maui, Big Tech, Texas, Louisiana, Carbon Technologies . Texas, Kleberg County, Rio Grande, Denmark, Switzerland, Union, Occidental, Boise, Pacific
Window-washing robots are working on Manhattan skyscrapers
  + stars: | 2023-08-14 | by ( Molly Kaiser | ) www.cnbc.com   time to read: +1 min
Skyline Robotics is disrupting the century-old practice of window washing with new technology that the startup hopes will redefine a risky industry. A robotic arm with a brush attached to the end cleans the window following instructions from a LiDAR camera, which uses laser technology to map 3D environments. "That person, other than regulation, doesn't actually have to be there for our sake," Blum said. "We don't need a separate squeegee and a separate brush to get a perfectly clean window," he said. The current cost of the Ozmo is approximately $500,000, which has a three-to-five-year payback for building owners, according to Skyline Robotics board member and Platinum CEO James Halpin.
Persons: Blum, Ross Blum, James Halpin Organizations: Robotics, Yards, Trade Center, Organization, Skyline Robotics Locations: Tel Aviv and New York, Manhattan, Madison
Safety officials at one New York beach are ramping up the use of drones to try to prevent potentially dangerous interactions between humans and sharks. Lifeguards and New York State Park Police officers at Jones Beach — a state park that stretches 6.5 miles along the Southern coast of Long Island and sees six million visitors a year — are using the technology to monitor the waters off the shore. When they spot sharks or unusual sea life activity, they can warn swimmers to stay on the beach. The next day, lifeguards at Jones Beach closed the water three times after possible shark sightings, two of which were made with drones. New York State Park PoliceThe technology has uses beyond searching for sharks, too.
Persons: Rishi Basdeo, , You’re, Basdeo, , , ” Basdeo, We’re Organizations: New, New York CNN, New York, Park Police, Jones, CNN, Federal Aviation Administration, . New Locations: New York, Long, , New York, Southern, Beach, Queens, York, ., . New York
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