Archive for the 'Economy' Category
Two Oil Tankers Attacked in Gulf of Oman
June 13th, 2019Via: Reuters: Attacks on two oil tankers on Thursday in the Gulf of Oman left one ablaze and both adrift, shipping firms said, driving oil prices up 4% over worries about Middle East supplies. The Front Altair was on fire in waters between Gulf Arab states and Iran after an explosion that a source blamed […]
16,000 People in L.A. Now Live in Cars, Vans and RVs
June 10th, 2019The largest regional daily newspaper in Southern California discusses the “success” of “safe parking” and entire families living in vehicles. Via: Los Angeles Times: Lot operators also would be required offer on-site case management and other services. And all of it must be done for less than $30 per car, per night — and ideally, […]
United Technologies, Raytheon to Combine Into Defense Giant
June 10th, 2019Via: Bloomberg: United Technologies Corp. agreed to buy Raytheon Co. in an all-stock deal, forming an aerospace and defense giant with $74 billion in sales in one of the industry’s biggest transactions ever. The new entity will be called Raytheon Technologies Corp. when the deal closes in the first half of 2020, after United Technologies […]
With Venezuela in Collapse, Towns Slip Into Primitive Isolation
June 10th, 2019With socialism like this, who needs EMP weapons? Via: Reuters: At the once-busy beach resort of Patanemo, tourism has evaporated over the last two years as Venezuela’s economic crisis has deepened and deteriorating cellphone service left visitors too afraid of robbery to brave the isolated roads. Gone are the vendors who once walked the sands […]
Citizen Cattle
June 7th, 2019Via: Ben Garrison:
Toyota and Subaru Partner to Make All-Electric SUVs Together
June 6th, 2019Via: Electrek: Toyota and Subaru, which is partly owned by the latter, have announced that they are partnering to develop a new electric platform in order to launch a couple of all-electric SUVs under each brand. The two Japanese automakers have been increasingly collaborating over the past decade, including on some hybrid vehicle projects. Both […]
GE Bet on Fossil Fuels, Lost Nearly $200B in Misjudging Renewable Energy Transition
June 6th, 2019Via: Electrek: General Electric’s profitability collapse over the past few years can be largely attributed to the company’s inability to judge the accelerating pace of the global energy transition away from fossil fuels and toward renewables, a new study claims. The analysis comes from the Institute for Energy Economics and Financial Analysis (IEEFA), which says […]
Project Kuiper Initiative: Amazon Will Spend Billions to Build Satellite Internet Service
June 6th, 2019Via: Bloomberg: Amazon.com Inc. plans to spend billions of dollars building a network of thousands of satellites to provide broadband internet service, Chief Executive Officer Jeff Bezos said. The Project Kuiper initiative, disclosed earlier this year, is the type of big bet the company needs to keep making as its massive scale renders smaller endeavors […]
Amazon Claims Prime Air Drones Will Start Delivering Packages ‘Within Months’
June 6th, 2019Via: USA Today: Within a matter of months, your future Amazon orders could be delivered by a self-driving drone. Officials with the online shopping giant unveiled the latest Prime Air drone design Wednesday at Amazon’s re:MARS Conference (Machine Learning, Automation, Robotics and Space) in Las Vegas. “We’ve been hard at work building fully electric drones […]
Pentagon Eyes Rare Earth Supplies in Africa in Push Away from China
June 6th, 2019In other news: Maybe Africa Really Will Be the New China. Via: Reuters: The U.S. Department of Defense has held talks with Malawi’s Mkango Resources Ltd and other rare earth miners across the globe about their supplies of strategic minerals, part of a plan to find diversified reserves outside of China, a department official said […]
