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☆ Column: Europe needs France to get its nuclear act together in 2023: Maguire
▼ + stars: | 2023-02-01 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

LITTLETON, Colo., Feb 1 (Reuters) - A steep drop in France's nuclear power output in 2022 exacerbated Europe's power crisis by forcing French utilities to flip from net power exporters to importers just as Russia's invasion of Ukraine snarled energy markets across the continent. POWERING UPSo far in 2023, France's nuclear power output remains 17.5% below the average from 2020 and 2021, Refinitiv data shows, due in part to strikes against planned pension reforms for unionised workers. Even if average output remains below that previous target, any sustained increase in nuclear production from 2022 totals stands to have an impact on local power prices, as well as France's overall power import needs. For example, in December, some previously curtailed reactors resumed operations and that boosted national nuclear output by 40% from the average of the previous eight months, Refinitiv data shows. France seasonal nuclear power outputReporting By Gavin Maguire; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Column: Germany needs more baseload power for vital industrial reboot
▼ + stars: | 2023-01-31 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

Germany output of key industrial productsOther major employers, including steel firms and fertilizer makers, have also been forced to aggressively throttle back production. Germany's power producers have also aggressively ramped up power from intermittent renewable sources, with solar and wind generation totals both rising by more than 50% since 2015. TRIPLE WHAMMYIn 2022, Germany's power sector was roiled on multiple fronts as gas supplies dried up due to the Russia-Ukraine conflict just as dry conditions reduced hydro power and planned reactor shutdowns curbed nuclear power supplies. But Germany's renowned manufacturing economy will not be able to return to its previous dominant position without abundant baseload power. Related columns: Germany energy transition needs faster CO2 cuts from autos, industryThe opinions expressed here are those of the author, a columnist for Reuters.

LITTLETON, Colo. Jan 25 (Reuters) - The world's top thermal coal exporter shocked global markets a year ago by temporarily banning coal exports to protect domestic power producers, sending coal prices soaring and kicking off an historically volatile year for coal and other power fuels. For 2022 as a whole, total Indonesian thermal coal exports hit 448.5 million tonnes, a record sum that was 56 million tonnes (14.4%) larger than 2021's total, ship tracking data from Kpler shows. However, there are several factors in play in 2023 that may lift demand for Indonesian coal over the coming months. The planned implementation of energy product sanctions on Russia by the European Union this year is another factor likely to support global coal demand. India's tight domestic coal stockpiles are another bullish factor supporting Indonesia's coal export potential.

☆ Mass Shootings in the U.S.: A Symptom of Despair - The New York Times
▼ + stars: | 2023-01-26 | by ( Jillian Peterson | James Densley | ) www.nytimes.com time to read: +23 min

Seven killed and 46 injured in Highland Park, Ill., on July 4, 2022He suffered from severe back pain. Eight killed and seven injured in Indianapolis on April 15, 2021He was known for being paranoid with a short temper. Five killed and seven injured in Aurora, Ill., on Feb. 15, 2019He had expressed violent thoughts. Nine killed and seven injured in Red Lake, Minn., on March 21, 2005He had been noticeably depressed and angry at church. Seven killed and seven injured in Fort Worth on Sept. 15, 1999He killed his daughter’s cat because he was upset.

☆ Column: North Asia cranks coal imports to fuel industrial reboot
▼ + stars: | 2023-01-25 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

LITTLETON, Colo. Jan 24 (Reuters) - Thermal coal imports into China, Japan and South Korea - three of the world's largest coal users - hit their highest combined total in 16 months in December as the North Asian manufacturing powerhouses primed their economies for growth in 2023. Economic momentum in these countries - which collectively accounted for nearly half of all thermal coal imports in 2021 - was subdued in 2022 as China's strict zero-COVID measures stifled industrial activity across the world's largest manufacturing base. Combined thermal coal imports by the three countries totalled 43 million tonnes in December 2022, the highest monthly tally since August 2021, ship-tracking data from Kpler shows. China output of key industrial inputsOne such key end user is Asia's car production industry, which started to show signs of growth as of the latest data from late 2022 across China, Japan and South Korea. Japan passenger car exports by key marketIn sum, the combination of more freedom of movement in China and greater industrial activity across North Asia should spur an improvement in global economic growth in 2023.

☆ Elon Musk is back on the stand in trial over controversial ‘funding secured’ tweet
▼ + stars: | 2023-01-24 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Tesla CEO Elon Musk returned to the witness stand for a third day in a California court room Tuesday, as he testified in a class-action lawsuit over his controversial “funding secured” tweet from 2018. Musk’s “funding secured” tweet previously prompted a civil suit by the Securities and Exchange Commission, the federal agency that protects investors. The lead plaintiff, Glen Littleton, testified last week that he lost more than 75% of his investments following Musk’s “funding secured” tweet. Musk has argued during the trial that his tweets do not cause Tesla’s stock price to move higher or lower. He pointed to a time in May of 2020 when he tweeted that “Tesla stock price is too high.” The stock price dropped the day of his tweet but recovered and closed the year higher than it had opened.

☆ Elon Musk returns to the stand in class-action lawsuit over controversial tweet
▼ + stars: | 2023-01-23 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Tesla CEO Elon Musk took the stand again on Monday morning in a California courtroom to testify for a second day in the lawsuit over his controversial “funding secured” tweet from 2018. Musk had spoken to executives of the Saudi sovereign wealth fund about the funding he would need to take Tesla private. However, it was anything but “secured.” Musk shared his recollection of the incident in his testimony Monday. He pointed to an incident in May of 2020 when he tweeted that “Tesla stock price is too high.” The stock price dropped the day of his tweet but recovered and closed the year higher than it had opened. Musk testified Friday that no one at Tesla reviewed his tweets in 2018 before he published them.

The court trial to decide whether a tweet Elon Musk sent in 2018 cost Tesla investors millions of dollars will resume Friday, with Musk himself potentially taking the stand. Tesla shareholders are suing the company to recoup losses they say they suffered amid Musk's claims that he had "secured" money to take the company private at $420 per share. Had the plan ultimately materialized, people who owned shares of Tesla at the time could have earned profits on their holdings. After the trial adjourned Wednesday, Porritt told The Associated Press he hopes to call Musk to the stand Friday after two other witnesses testify. Littleton told the nine-person San Francisco jury that Musk’s claim about the financing alarmed him.

Companies Tesla Inc FollowJan 20 (Reuters) - Elon Musk, Tesla Inc's (TSLA.O) chief executive, is likely to be called to testify on Friday in a jury trial over his 2018 tweet that he had "funding secured" to take the electric carmaker private, which shareholders allege cost them millions in trading losses. The billionaire entrepreneur is listed as the third possible witness on Friday, after a securities expert and a Tesla investor, in the class action trial in San Francisco federal court. Fearing leaks to the media, Musk tried to protect the "everyday shareholder" by sending the tweet, which contained "technical inaccuracies," Spiro said. The defendants include current and former Tesla directors, whom Spiro said had "pure" motives in their response to Musk's plan. The trial resumes after a day off on Thursday.

☆ 39 more Regal theaters are closing in the US amid bankruptcy. See the full list.
▼ + stars: | 2023-01-19 | by ( Travis Clark | Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

Over three dozen Regal Cinemas locations in the US are expected to close. Cineworld detailed the plan to reject the leases starting February 15 in a new bankruptcy filing on Tuesday. Regal is the second-largest cinema chain in the US, behind AMC, with over 500 theaters. The company's plan to close locations during its bankruptcy is fairly routine. Cineworld filed for bankruptcy at a time when the larger theatrical industry is struggling to fully rebound from the pandemic.

☆ Column: Model no more? Turkey's energy transition reversed in 2022: Maguire
▼ + stars: | 2023-01-19 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +6 min

As Turkey's overall coal imports grew by only 8.8% in 2022, the surge in Russian purchases came at the expense of other suppliers such as Colombia and Australia. In contrast, Turkey's electricity generation from solar and wind averaged 16% in 2022, meaning that an overwhelming majority of power was generated from other sources. Share of electricity from solar + wind in Turkey, Germany & SpainAn additional 22% of Turkey's electricity came from hydro facilities in 2022, which provided valuable dispatchable clean power for utilities. Yet solar and wind supplies come with the headache of intermittency, when power generation totals slump at night and during cloudy or windless days. Until 2022, Turkey had been on a path to use cleaner-burning natural gas as that main source of baseload supply, with plans to phase out high-polluting coal use over time.

Tesla investor Glen Littleton is seeking damages on behalf of shareholders who traded the company's stock in the days after Musk posted his plan to take the company private on Twitter in August 2018. Musk's lawyer disputed this characterization, saying that the billionaire was "serious" about taking the company private in 2018, but ultimately encountered shareholder opposition. Musk believed that financing was not an issue and was "taking steps" to make a deal happen, Spiro told the jury. The self-employed investor said he viewed Musk's "funding secured" statement as "absolute." Spiro said on Wednesday that Tesla's stock price jumped in response to Musk saying he was considering taking the company private, which he said was true.

SAN FRANCISCO, Jan 18 (Reuters) - A lawyer for Tesla Inc (TSLA.O) investors said on Wednesday that CEO Elon Musk "lied" when he tweeted in 2018 that funding was "secured" to take the company private. Musk's alleged lies caused "regular people" to lose millions, Nicholas Porritt, lead attorney for the investors, told a jury in San Francisco during opening statements. Musk's lawyer disputed this characterization, saying that the billionaire was "serious" about taking the company private in 2018, but ultimately encountered shareholder opposition. Tesla investor Glen Littleton is seeking damages on behalf of shareholders who traded the company's stock in the days after Musk posted his plan to take the company private on Twitter in August 2018. Reporting by Jody Godoy in San Francisco Editing by Peter Henderson, Noeleen Walder and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Opening arguments kick off Wednesday in a trial that will see Tesla face off against shareholders who are accusing the company of misleading them over a tweet by Elon Musk that stated funding had been "secured" to take the electric car company private. Lead shareholder plaintiff Glen Littleton is seeking billions of dollars in damages over the August 2018 tweet, which prompted a brief rise in Tesla's stock price. Shares of company stock began a steady decline that continued into the following year. Musk and Tesla were separately fined $20 million and Musk was forced to step down as Tesla's chairman. He also agreed to a requirement to have lawyers review his statements about Tesla before publishing them on social media.

SAN FRANCISCO, Jan 18 (Reuters) - Attorneys for Tesla Inc (TSLA.O) and for investors will make opening arguments in a San Francisco court on Wednesday in a case to decide whether CEO Elon Musk's 2018 tweet that funding was "secured" to take the company private damaged shareholders. The case is a rare securities class action trial, and Musk and his company are bucking the norm of settling claims that clear high legal hurdles, making for a potentially dramatic trial at which Musk himself may testify. Tesla investor Glen Littleton is seeking "billions" in damages on behalf of shareholders who traded the company's stock in the days after Musk posted his plan to take the company private on Twitter in August 2018. While shareholders sue hundreds of companies and their executives for alleged securities fraud every year, very few of those cases make it to trial. Reporting by Jody Godoy in San Francisco Editing by Peter Henderson and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Column: Europe's gas price plunge churns up global coal markets
▼ + stars: | 2023-01-18 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

However, thanks to a recent plunge in European natural gas prices - down 60% since December 1 on mild winter temperatures, filled storage tanks and diminished industrial use - European coal prices and demand have slumped so far in 2023. WIDE SPREADThe divergent tones of Europe's and Asia's coal markets are captured by the record-wide price spread between them. This week, that spread surpassed $200 a tonne as Asia-focused Newcastle coal prices held firm around $370 a tonne while European coal prices slumped to $165. Over the near term, such actions will likely narrow the arbitrage window by applying pressure to Asia's coal prices. Those high stocks have in turn been a major driver behind the gas price falls seen since December.

☆ Biden declares emergency for Alabama due to tornadoes
▼ + stars: | 2023-01-15 | by ( ) www.reuters.com time to read: +1 min

[1/2] General view of Daryle and Shawna Littleton's property destroyed by a tornado in Prattville, Alabama, U.S., January 14, 2023. REUTERS/Evan GarciaJan 15 (Reuters) - U.S. President Joe Biden approved an emergency declaration for Alabama on early Sunday after at least nine people died in tornadoes that destroyed homes and knocked out power to tens of thousands in the U.S. Southeast this week. Biden ordered federal aid to supplement regional recovery efforts in the areas affected by severe storms, straight-line winds and tornadoes on Jan. 12, a White House statement said. At least five tornadoes touched down in central Alabama on Thursday, according to National Weather Service meteorologist Jessica Laws. Biden’s action makes federal funding available to affected individuals in the counties of Autauga and Dallas.

☆ Peltz steps up push for seat on Disney board
▼ + stars: | 2023-01-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPeltz steps up push for seat on Disney boardCynthia Littleton, Variety co-editor-in-chief, Sean McNulty, Ankler contributor, and CNBC's Alex Sherman discuss what's ailing Disney and why activist investor Nelson Peltz is pushing for a board seat.

☆ Column: Europe's mild weather reprieve this winter may come to bite by summer
▼ + stars: | 2023-01-11 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +6 min

In Switzerland - one of Europe's top winter sports destinations - many ski resorts have been forced to close due to a lack of snow. KINDLINGBeyond lost tourism revenues, the unusually low snow totals and warm temperatures pose a potential threat to several European sectors later this year. For power producers, the low snow totals come on the back of a drier-than-normal 2022, and leave hydro power production potential sharply below normal in several key countries. Last July, a prolonged heat wave pushed river temperatures above the level that can help cool reactors, and forced power producers in France to curb nuclear output. If snow totals remain well below usual, river temperatures may stay warmer than normal in 2023 and pose a fresh risk to nuclear operators.

☆ Column: China's power sector emissions set to jump as economy reboots
▼ + stars: | 2023-01-10 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

LITTLETON, Colo., Jan 9 (Reuters) - Pollution levels from China's mammoth power sector are set to climb to new highs in 2023 as Beijing's efforts to spur growth across the economy result in increased burning of fossil fuels. The energy sector accounts for roughly 90% of emissions in the country, the world's top polluter, according to the International Energy Agency (IEA). SOFT PATCHThe 1.6% rise in China's power sector emissions through November was the smallest increase during that period on record aside from 2020, when China first tackled COVID outbreaks, Ember data shows. China power sector emissionsA more than 10% rise in electricity generated from clean sources such as solar and wind - compared with a 1.5% rise in fossil fuel electricity generation - helped curb overall power sector emissions, according to the Ember data. Diminished energy demand from shuttered factories and several key industries also capped overall power sector pollution, with China's industrial output through most of 2022 holding at suppressed levels.

☆ Column: Key coal import hubs in China perk up as economy reboots: Maguire
▼ + stars: | 2022-12-21 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +4 min

China coal use seasonallyBut recent measures aimed at lifting movement restrictions and reviving economic activity in China are already resulting in increased coal import activity at key usage hubs, which stand to impact global coal flows, prices and emissions in 2023. Between January and October, the province cut thermal coal use by 51 million tonnes from the same period in 2021. As a result, many Southern China coal plants are almost overwhelmingly reliant on imported coal. And all major coal ports in that region are now starting to show signs of a recovery in coal import volumes compared with mid-2022, when lockdowns were common throughout the country. And much of that increased coal demand will be fulfilled by imports, which will serve to tighten global coal markets, boost China's coal sector emissions, and potentially raise prices for other coal consumers.

☆ Column: U.S. LNG exports both a lifeline and a drain for Europe in 2023
▼ + stars: | 2022-12-20 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

LITTLETON, Colo., Dec 20 (Reuters) - Record liquefied natural gas (LNG) exports from the United States helped soften the blow to Europe from sharply lower Russian pipelined natural gas supplies in 2022, and will remain a vital energy source for the continent in 2023. But the surging cost of U.S. LNG supplies - which have roughly doubled since late 2021 - look set to come under closer scrutiny in 2023 as governments, utilities and households across Europe move to mend tattered budgets. The United States looks set to remain Europe's top LNG seller in 2023 as U.S. LNG exporters have greater volumes of LNG available for spot market purchases than other major exporters like Qatar, and as additional U.S. export capacity comes on line. LNG export flows by continent by top three global LNG exportersU.S. exporters also enjoy a significant freight cost advantage over Australia and Qatar - the world's largest overall LNG exporters. This means that the United States will remain the primary supplier of LNG to Europe for at least 2023.

☆ Disney places big bet on 'Avatar: The Way of Water'
▼ + stars: | 2022-12-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDisney places big bet on 'Avatar: The Way of Water'Cynthia Littleton, Variety co-editor-in-chief, and Tom Rogers, Engine Media executive chairman, join ‘Squawk Box’ to discuss the box office expectations for James Cameron’s new movie, "Avatar: The Way of Water."

☆ Column: Why G7 aims to crack Vietnam's coal fix with $15.5 billion deal
▼ + stars: | 2022-12-15 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

Between 2017 and 2021, Vietnam's power sector emissions from burning fossil fuels jumped by 65.3% to more than 121 million tonnes of CO2 or equivalent gases, data from Ember shows. That's the fastest growth in all of Southeast Asia, and places Vietnam as the second largest power sector polluter in the region behind Indonesia (another target of JTEP efforts). Export earnings topped a record $330 billion in 2021, up from $70 billion in 2010, International Monetary Fund data shows. According to data from Ember, 64.3% of Vietnam's electricity was generated from fossil fuels in 2021 (52% coal, 12% gas), while 35.7% came from clean energy sources (30% hydropower, 5% solar). In addition, due to its proximity to other fast-growing economies with similar ambitions to develop manufacturing hubs - including the Philippines, Thailand and Cambodia - any successful retooling of Vietnam's energy system can be used as a template elsewhere.

☆ Tumblr Shoots for a Comeback With Users and Advertisers
▼ + stars: | 2022-12-09 | by ( Katie Deighton | ) www.wsj.com time to read: +7 min

Wireless company Verizon Communications Inc., which bought Yahoo in 2017, saw Tumblr users nosedive when it banned adult content, including nudity, in 2018. Tumblr users in the past month have depicted anthropomorphized versions of the Tumblr and Twitter logos, for example, having a quasiromantic relationship. And in April, it introduced Tumblr Blaze, which offers users, including brand accounts, wider exposure for their posts. Advertisers that create custom campaigns using the parlance popular among Tumblr users to appeal to particular communities usually see the best engagement, according to Tumblr’s chief marketing officer, Matthew Ryan. Some of the most active advertisers on Tumblr are movie and television studios that create Tumblr campaigns for die-hard fans of genres or series, Mr. Ryan said.

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