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A bipartisan group of four congressional lawmakers have objected to the Biden administration plan to boost access to metals needed for electric vehicle batteries by easing sanctions on an Israeli mining executive accused of corrupt practices in the Democratic Republic of Congo. The objection came as the Biden administration moves to allow Dan Gertler, an Israeli billionaire, to sell his financial stake in three mines in Congo as part of an effort to remove him from the mining trade there. Senior Biden officials have argued this will help Congo, the largest producer of cobalt in the world, by enticing more Western-leaning investors. Mr. Gertler has said that all his investments in Congo were aboveboard. But the four lawmakers — two senators and two House members — disputed that, saying the Biden administration was wrong to propose allowing Mr. Gertler to profit as he sells off his holdings in Congo.
Persons: Biden, Dan Gertler, Gertler, Organizations: Democratic, Biden Locations: Democratic Republic of Congo, Congo
Professionals at the RSA Conference shared insights on securing 5G devices and networks. Business Insider spoke with several cybersecurity professionals at the annual RSA Conference, which took place from May 6 to 9 in San Francisco. Private 5G networks will change the way in which everything connects." Here are cybersecurity professionals' best practices for securing 5G devices and networks. That's because as more devices get connected to 5G networks, the bigger the attack surface becomes.
Persons: , Nathan Howe, it's, Andrea Carcano, Boaz Gelbord, Donna Johnson, you've, Christine Gadsby, It's, Darren Guccione, Guccione, Jimmy Mesta, Carcano Organizations: RSA, Service, Business, RSA Conference, Nozomi Networks, BlackBerry, RAD Security Locations: San Francisco, cybersecurity
In a filing on Monday, AEP Ohio asked the state's public utilities commission to approve its proposals to create a new customer class and a set of tariffs specifically for data centers. On the other hand, data centers have created roughly "less than one" full time job per megawatt of energy consumed, the filing said. AEP Ohio's new service queue has been paused since March while the company assesses its response to the 30,000 megawatts of requests from data centers. "We believe some of that queue is speculative, but we want the real customers and counterparties to commit to Ohio," Reitter said. AdvertisementSome states, including Ohio, have a statute that allows power companies and data centers to seek approval for agreements that give the data centers heavily discounted electricity.
Persons: , Marc Reitter, Reitter, counterparties Organizations: Service, AEP Ohio, Business, American Electric, AEP, , AEP Ohio's, ratepayers Locations: Ohio, Columbus , Ohio, New York
Copper "is the most compelling trade I have ever seen," Carlyle's Jeff Currie said on the Odd Lots podcast. He thinks the metal's massive mismatch in supply and demand could push its price up to $15,000 a ton. AdvertisementCopper supply issues are making the metal considerably more expensive, says commodities veteran Jeff Currie, who is very bullish on the opportunity. He later added: "I just quote many of our clients and other market participants say it's the highest conviction trade they've ever seen." Though not necessarily part of his acronym, artificial intelligence is also amplifying industry demand, Currie mentioned.
Persons: Carlyle's Jeff Currie, Currie, , Jeff Currie, Carlyle, Currie —, Goldman Sachs, policy's, copper's, deglobalization Organizations: Industry, Service, Bloomberg, US, BHP Locations: China, Panama
Russian troops punched across Ukraine’s northern border with such speed and force last week that Ukraine’s meager fortifications offered almost no obstacle. As she fled the village where she had spent her whole life, she said, not a single Ukrainian soldier was in sight. The stunning incursion into the Kharkiv Region lays bare the challenges facing Ukraine’s weary and thinly stretched forces as Russia ramps up its summer offensive. The Russian troops pouring over the border enjoyed a huge advantage in artillery shells and employed air power, including fighter jets and heavy glide bombs, to disastrous effect, unhindered by depleted Ukrainian air defenses. Once over the border, the Russian soldiers easily pushed past fortifications — like trenches, land mines and tank barriers — some of which, Ukrainian troops said, were insufficient or sloppily constructed.
Persons: , Tetiana Novikova Locations: Vovchansk, Ukrainian, Kharkiv Region, Russia
The White House decided to delay by two years tariffs on graphite, a key metal in EV lithium-ion batteries that helps them store energy. But a senior Biden administration official said during a call with reporters that some tariffs would kick in in 2026 to allow battery supply chains to transition. However, those batteries can still source graphite from China until at least 2027 under the Biden administration's policy. Beyond graphite, other tariffs that Biden slapped on China's green tech are mostly symbolic. But steeper taxes on batteries this year could affect US automakers such as Ford and Tesla, which import from China.
Persons: Joe Biden, Gene Berdichevsky, Berdichevsky, Sila, EVs, Biden Organizations: Service, White, Business, US Department of Energy, Mercedes, Benz, Manufacturing, Biden, Environmental Defense Fund Locations: China, Washington ,, Moses Lake , Washington, Southeast Asia
Copper futures hit a record high on Wednesday as demand for the base metal stays strong amid a rush to build data centers and the continued electrification of the global economy. It is integral to manufacturing electric vehicles, power grids and wind turbines, especially as the global economy electrifies. The International Energy Agency is expecting power demand from data centers to more than double to over 1000 terawatt-hours (TWh) in 2026 from 460 TWh in 2022. Copper production growth forecast for 2024 has been cut to 0.5% compared with a 3.7% growth estimated by ICSG last October 2023. Anglo American, a major producer, said it would cut copper output in 2024 and 2025 as it seeks to cut costs.
Persons: ICSG Organizations: Aurubis, Bank of America, International Energy Agency, Study, Quantum Minerals, Citi, London Metals Exchange Locations: Hamburg, Germany
Read previewRussia often uses its annual Red Square military parade in Moscow as an opportunity to show off its weaponry. This T-34, the legendary Soviet tank from World War II, was the only Russian tank on display at the Victory Day parade in Red Square today. A military parade on Victory Day in Red Square, Moscow, Russia, in May 2022, to mark the 77th anniversary of the victory over Nazi Germany in World War II. A RS-24 Yars intercontinental ballistic missile system drives on Red Square during the Victory Day military parade in central Moscow on May 9, 2024. AdvertisementWhile the Russian tank display was notably lacking, other modern Russian weapons did make an appearance, such as Russia's intercontinental ballistic missiles.
Persons: , @maxseddon, Vladimir Putin, Novozhenina, Ukraine's, NATALIA KOLESNIKOVA Organizations: Service, Red, Soviet Union, Business, Soviet, Nazi, REUTERS, International Institute for Strategic Studies, Victory Day Locations: Russia, Moscow, Soviet, Nazi Germany, Square, Ukraine, Red Square, Donetsk
British biodiversity startup Dendra Systems announced Wednesday it has raised a $15.76 million Series B, as investors continue to pour capital into climate tech. The $15.76 million Series B round was led by Zouk Capital, a London-based private equity firm that has previously backed climate-tech companies such as Green Hedge and Orb Energy. Dendra Systems previously raised $10 million Series A in 2020 from At One Ventures, Airbus Ventures, Future Positive Capital, Chris Sacca's Lowercarbon Capital, and others. Climate tech proved to be more resilient than other sectors in a cool market in 2023, with European climate tech startups bucking the trend in declining investment and raising a collective $20 billion. Dendra Systems is among the first batch of European climate startups to get VC backing.
Persons: Susan Graham, Graham, Chris Sacca's Organizations: Systems, Zouk, Orb Energy, Aramco Ventures, Airbus Ventures, Understorey, Business, Tech News, Dendra, One Ventures, Positive, Natural Capital Research Locations: London, Rio Tinto, North America
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: The cycle could be turning against CVR Energy, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: AeroVironment, Agnico Eagle Mines, Nutanix, Altimmune, CVR Energy and Quanta Services.
Persons: Jim Cramer Organizations: CVR Energy, Mines
Cramer's Lightning Round: Quanta Services is 'terrific'
  + stars: | 2024-05-06 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon AeroVironment's year-to-date stock performance. Stock Chart Icon Stock chart icon Nutanix's year-to-date stock performance. Stock Chart Icon Stock chart icon Altimmune's year-to-date stock performance. Stock Chart Icon Stock chart icon CVR Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon Quanta Services' year-to-date stock performance.
Persons: it's Organizations: Mines, Eagle Mines, CVR Energy
The deal illustrates data centers' new-found interest in nuclear power. Joe Dominguez, the CEO of Constellation, the nation's largest operator of nuclear plants, said in a March earnings call that powering data centers with nuclear energy was "kind of a perfect marriage." AdvertisementVistra, another nuclear owner, also indicated it was arranging data center deals for a nuclear plant it owns in Ohio and one in Texas. Greg Poulos, the executive director of a PJM watchdog group, said that "one of my highest priority, highest radar items" is how data centers could push costs onto consumers and also whether nuclear data centers deals could reduce grid reliability. Beyond the nuclear optionNot all data centers, of course, are seeking out nuclear power to seize their energy independence.
Persons: , Wes Swenson, Swenson, Joe Dominguez, Jim Burke, Ralph La Rossa, La Rossa, Steve Helber, Burke, Dominguez, PJM, Michael Jacobs, Brian Janous, Greg Poulos, Poulos, Biden Organizations: Service, Susquehanna, Amazon, Business, US Energy Information Administration, Nuclear, Constellation, Public Service Enterprise Group, Microsoft, International Energy Agency, Dominion Energy, Talen Energy, Energy, Union of Concerned Locations: Pennsylvania, Salt Lake City, Ohio, Texas, New Jersey, Our, Jersey, Virginia, Chester , Va, Susquehanna, Chicago, New York City
Great Barrier Reef, Australia CNN —As the early-morning sun rises over the Great Barrier Reef, its light pierces the turquoise waters of a shallow lagoon, bringing more than a dozen turtles to life. CNN witnessed bleaching on the Great Barrier Reef in mid-February, on five different reefs spanning the northern and southern parts of the 2,300-kilometer (1,400-mile) ecosystem. “It’s a die-off,” said Professor Ove Hoegh-Guldberg, a climate scientist at the University of Queensland in Australia and chief scientist at The Great Barrier Reef Foundation. Our destination is Lady Elliot Island, a remote coral cay perched on top of the southern end of the Great Barrier Reef. — Lady Elliot Island Eco Resort Guano miners once stripped Lady Elliot Island of its topsoil.
Persons: Elliot Island, , Kate Quigley, “ We’re, Ove Hoegh, I’m, Guldberg, , Elliot, Peter Gash, , ” Gash, Lady Elliot, ” Peter Gash, CNN Gash, Derek Manzello, Peter Harrison, “ We’ve, ” Harrison, ” David Ritter, ” Ritter, David Wachenfeld Organizations: Australia CNN —, Atmospheric Administration, NOAA, CNN, Minderoo, University of Queensland, Eco, Reef Watch, Southern Cross University, Australian Institute of Marine Science, Greenpeace, Australia CNN Scientists, AIMS Locations: Australia, El, Brisbane, Queensland, Red Sea, Indonesia, Seychelles, Caribbean, Florida, , New South Wales, Greenpeace Australia, Briggs, Elliot Island
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUranium Energy Corp CEO: U.S. needs to drill down on increasing uranium productionAmir Adani, CEO of Uranium Energy Corp., joins CNBC's 'The Exchange' to share how his company is reopening mines, outlooks on U.S. uranium production, and more.
Persons: Amir Adani Organizations: Uranium Energy Corp
Read previewAn American veteran who fought in Ukraine said the US military spent so long focused on fighting insurgents that it forgot "what it means to actually fight a war." Libkos/Getty Images"We've gotten so used to the idea of just fighting guerilla wars and fucking fighting terrorists and everything else that we kind of forgot what it means to actually fight a war," he said. Some Ukrainian soldiers trained abroad said the training they received was not suited to the kind of fighting needed for this war. Ukraine is fighting in conditions very different from what the US and its NATO allies have fought through in recent decades. He said that fighting to clear Russian trenches made him feel like he was "fighting World War I."
Persons: , Libkos, it's, I've, haven't Organizations: Service, Business, NATO, Russia, Army, REUTERS, State Emergency Service, US, US Army Locations: Ukraine, Iraq, Afghanistan, Kharkiv, Bakhmut, Europe, Russia, China, Ukrainian, Ukraine's Kharkiv, readying, Avdiivka, Ukraine's Donetsk
Read previewThe US Army has released photos of the newest and most advanced version of its Bradley infantry fighting vehicle, combat-proven armor that Ukraine has been using against Russia. AdvertisementThe new M2A4E1 Bradley infantry fighting vehicle. "The Army received funding to procure the M2A4E1 for every Bradley donated to Ukraine," the PEOGCS said this week. AdvertisementA M2 Bradley Infantry Fighting Vehicle drives during a live fire exercise at Fort Cavazos, Texas. The Bradley, initially built as a response to Soviet infantry fighting vehicles, entered service in the 1980s and was deployed to the Gulf War the following decade before being sent to Iraq in the 2000s.
Persons: , Bradley, Bradley IFV, Elbit, Glenn Dean, It's, Washington, David Dumas, The Bradley Organizations: Service, US Army, Bradley, Russia, Army's, Business, Environmental Control Unit, Army, Israel's Elbit Systems, Breaking Defense, Abrams, Bradley Infantry Fighting, Spc, Army Ukrainian, US Locations: Ukraine, Maine, Maj, Kyiv, Fort Cavazos , Texas, The, Iraq
Its new "turtle tanks" may look silly, but there are indications they may be effective. Some OSINT pages highlighted the turtle tank's role in the assault on Krasnohorivka. Abandoned Russian ‘turtle’ tank on the Krasrohorivka front. AdvertisementVideos of Russian “turtle” tanks during assaults on Chasiv Yar and Krasnohorivka. The Russian turtle tanks are a clear step beyond the widely documented "cope cages" both sides have relied on to try and shield their heavy armor throughout the war.
Persons: , Rob Lee, — Rob Lee, Lee, /htt, per a, lea, ely Organizations: Service, Foreign Policy Research Institute, Russia's, Rifle Brigade, Russia's 5th Motorized Rifle Brigade Locations: Russia, Ukraine, Moscow, Ukrainian, Krasnohorivka, Donetsk
New coal mines continue to open each year, and oil and gas companies are still exploring new parts of the world. But increasingly, people — especially Indigenous communities — are saying no to new fossil fuel developments on their land and using courts and legislatures to deliver the message. In India, protests by Adivasi communities persuaded officials to cancel the auction of land for coal mines in the biodiverse forests of Chhattisgarh State. On Monday, leaders of these and other grass-roots environmental movements, spanning six countries, won the Goldman Environmental Prize. “One of the things we’ve seen in recent years is that environmental law, protection of natural resources, has become intertwined with human rights law and the law of Indigenous people,” said Michael Sutton, an environmental lawyer and the executive director of the Goldman Environmental Foundation.
Persons: , Michael Sutton Organizations: Shell Global, Goldman, Goldman Environmental Foundation Locations: India, Chhattisgarh State, South Africa, Australia, Queensland
The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.
Persons: Ford, we'll, Dow Jones, We've, Buckle, Eaton, Eli Lilly, Lilly, We're, Estee Lauder, Fabrizio Freda, we've, Linde, Bausch, Royal Philips, Woodward, SIRI, Archer, Johnson, Stanley Black, Decker, BAX, Cardinal Health, Parker, Belden, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Microsoft, Meta, Google Search, Big Tech, Nvidia, Broadcom, Ford Motor, Honeywell, Danaher, Labor Department, Labor, PMI, Services PMI, GE Healthcare, Amazon Web Services, Starbucks, Deutsche Bank, DuPont, Bausch Health, U.S ., Appeals, Apple, iPhones, Vision, ON Semiconductor, Resource Partners, Franklin Resources, Paramount, Transocean Ltd, Semiconductors, Arch Capital, Logitech International, Lattice Semiconductor, F5 Networks, Sanmina Corporation, GE HealthCare, PayPal, 3M Company, McDonalds, Enterprise Products Partners, Cola Company, Melco Resorts, Entertainment, SiriusXM Holdings, Oatly, American Electric Power Company, Leidos Holdings, Marathon Petroleum, Daniels, Midland Co, Equitrans Midstream Corporation, HSBC Holdings, HSBC, Devices, Caesars Entertainment, Lumen Technologies, Mondelez, Pfizer, CVS Health, Barrick, Mastercard Inc, Cruise Line Holdings Ltd, Kraft Heinz Company, Marriott International, Ares, Generac Holdings, Johnson Controls, Cenovus Energy Inc, Qualcomm, Devon Energy, Paycom, Axcelis Technologies, Coeur D'Alene Mines, Sunnova Energy International, MGM Resorts International, MGM, Solar Inc, Oil, Allstate, Co, Tenable Holdings, Enovix Corporation, Gladstone Capital, Avis Budget Group, eBay, EBAY, LIN, Novo Nordisk, Natural Resources, PENN Entertainment, Apache, ConocoPhillips, InMode Ltd, Baxter International, Cardinal, Regeneron Pharmaceuticals, Apollo Global Management, LLC, Cinemark Inc, Dominion Energy, Coterra Energy, Coinbase, Bill.com Holdings, Booking Holdings, United States Steel, AXT Inc, Materials, Energy, Hershey Company, XPO Logistics, Cboe, American Pipeline, Amneal Pharmaceuticals, Brookfield Business Partners, Brookfield Renewable Corporation, Magna International, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Bloomberg, Getty Locations: U.S, megaprojects, China, Eaton, Corning, Coeur D'Alene, Albemarle, ALB, Novo, New York
Ukraine has removed Abrams tanks from the front lines, Pentagon officials told the Associated Press. AdvertisementUkraine has withdrawn its US-supplied Abrams tanks from the front lines in the face of Russian drone warfare tactics, two US defense officials told the Associated Press. A Russian reconnaissance drone knocked out an M1 Abrams tank near Avdiivka in eastern Ukraine in February, according to Russian state media. AdvertisementUkraine has lost five Abrams tanks in recent months, The New York Times reported this month, citing an unnamed senior US official. AdvertisementUkraine has used them to devastating effect to take out Russian tanks, with drones responsible for two-thirds of Russian tanks taken out, a NATO official told Foreign Policy earlier this month.
Persons: Abrams, , Christopher Grady, Grady, Markus Reisner, Ukraine's Organizations: Pentagon, Associated Press, Service, Joint Chiefs of Staff, Abrams, New York Times, US, NATO, Soviet, Challenger Locations: Ukraine, Russian, Avdiivka, Austrian
Jack Dorsey says that his payments company, Block (formerly Square), is expanding its bitcoin mining ambitions from designing chips to developing a full bitcoin mining system. "Building on these insights and pursuant to our goal of supporting mining decentralization, we plan to offer both a standalone mining chip as well as a full mining system of our own design." "Mining isn't accessible to everyone," Dorsey wrote when Block first entered the business of building mining hardware in 2021. "Bitcoin mining should be as easy as plugging a rig into a power source. The company was light on the details in this latest announcement, but Dorsey posted in 2021 that the company was considering a "bitcoin mining system based on custom silicon."
Persons: Jack Dorsey, We've, Dorsey, Block, Thomas Templeton Organizations: Mining Locations: China, Kenya, Malawi, Zambia
I moved to Alaska from Oregon to find work opportunities in the mining industry about 20 years ago. In Alaska, rotational work cycles can last up to six weeks with no break. During that time, I made just over $1,800 a week working nearly 82 hours a week. AdvertisementMy work opportunities are now limitedI plan to go back to rotational work after a year or two to enjoy life a little more. Then, I want to return to rotational work to have more time to enjoy life.
Persons: Justin Peterson, , I've, I'm, Justin Peterson I've Organizations: Service, Mining Locations: Alaska, Oregon, There's, Australia, Anchorage, Fairbanks, North, Wasilla , Alaska, Colorado
Its towering smokestacks once puffed out clouds of steam. In gigantic machine rooms, turbines whirled around the clock. In the Soviet era, the Kurakhove Heating and Power Plant gave rise to the town around it in Ukraine’s east, driving the local economy and sustaining the community with wages and heating for homes. “Our plant is the heart of our city,” said Halyna Liubchenko, a retiree whose husband worked his entire career in nearby coal mines that fed the facility. That heart is barely beating now, partly destroyed by artillery.
Persons: , Halyna Liubchenko Organizations: Power Locations: Soviet, Ukraine’s, Ukraine’s Donbas
watch nowHELL'S GATE, Kenya — Two-and-a-half hours northwest of Nairobi by car, a small group of bitcoin miners set up shop at the site of an extinct volcano near Hell's Gate National Park. "That doesn't happen without the bitcoin miners and us being globally distributed." MacKenzie SigalosWherever the operation, bitcoin mining is a volatile business, because so much of the economics depends on the price of the cryptocurrency. Before getting into bitcoin mining, he and his two co-founders, Philip Walton and Janet Maingi, spent years building internet connectivity infrastructure in rural and urban Africa. Demand from bitcoin miners on these semi-stranded assets is making renewables in Africa economically viable.
Persons: Jack Dorsey's, MacKenzie Sigalos, Erik Hersman, Bitcoin, Gridless, Lake Naivasha, bitcoin, Adam Sullivan, Philip Walton, Janet Maingi, Michael Gottschalk, Nic Carter, Carter, Hersman, It's, it's Organizations: CNBC, Kenyan, Core, Deutsche Bank, Marathon, United Arab, Getty, Island Ventures, Miners, International Energy Agency Locations: Kenya, Nairobi, Lake Naivasha, Malawi, Zambia, Venezuela, Lebanon, Gate, Lake, U.S, Texas, Russia, China, America, Africa, Toronto, Argentina, Florida, United Arab Emirates, Paraguay, Hersman, Sudan, Iceland, El Salvador, Bhutan
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