Economic industries – Hotel Oliebol http://hoteloliebol.com/ Sun, 28 Nov 2021 03:13:45 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://hoteloliebol.com/wp-content/uploads/2021/10/icon-1-120x120.png Economic industries – Hotel Oliebol http://hoteloliebol.com/ 32 32 Oil industry and President Joe Biden’s administration on proposals https://hoteloliebol.com/oil-industry-and-president-joe-bidens-administration-on-proposals/ Sun, 28 Nov 2021 02:05:28 +0000 https://hoteloliebol.com/oil-industry-and-president-joe-bidens-administration-on-proposals/ New proposals from the Biden administration and Congress could have a major impact on the mainstay of Louisiana and Houma-Thibodaux’s economies: oil and gas. Biden and the oil industry have long been at odds as he follows through on a campaign pledge to reduce pollution, rising seas and other harmful effects that greenhouse gases from […]]]>


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Samsung Announces $ 17 Billion Texas Chip Factory | Technology https://hoteloliebol.com/samsung-announces-17-billion-texas-chip-factory-technology/ Wed, 24 Nov 2021 01:59:47 +0000 https://hoteloliebol.com/samsung-announces-17-billion-texas-chip-factory-technology/ South Korean tech giant Samsung Electronics says it will build a $ 17 billion chip factory outside Austin, Texas to make advanced chips used in phones, cars, and more electronic appliances. The plant would create 2,000 high-tech jobs, with construction scheduled to start in the first half of next year and production to start in […]]]>

South Korean tech giant Samsung Electronics says it will build a $ 17 billion chip factory outside Austin, Texas to make advanced chips used in phones, cars, and more electronic appliances.

The plant would create 2,000 high-tech jobs, with construction scheduled to start in the first half of next year and production to start in the second half of 2024, Samsung said in a statement Wednesday. It would also create at least 6,500 construction jobs, Texas Gov. Greg Abbott said in a press release.

The world’s largest memory chipmaker and second-largest contract chipmaker had also considered sites in Arizona and New York for the plant, which will be much larger than its only other US chip factory in Austin. .

Samsung chose Texas again because of its infrastructure, government support and proximity to its existing factory, he said.

A chip shortage has become both a trade barrier and a serious national security concern for the United States. The semiconductor shortage triggered by COVID-era shutdowns has hampered the production of new vehicles and electronics for more than a year.

New economic and national security issues are also at stake as many American companies depend on chips produced abroad, notably in Taiwan, which China has long claimed as its home territory.

“It’s a concentration risk, a geopolitical risk” to be so dependent on Taiwan for much of the world’s chip production, said Nina Turner, analyst at IDC. She said current shortages are likely to ease, but there will be long-term demand for crisps as more and more everyday products depend on it.

US President Joe Biden’s administration pledged billions of dollars in funding to boost chip manufacturing and research [File: Susan Walsh/AP]

Many chipmakers are expanding their manufacturing operations, now concentrated in Asia, in response to shortages, which have wreaked havoc in industries ranging from automakers to the video game industry.

Abbott, accompanied at a press conference by Samsung Vice President of Electronics Kinam Kim and U.S. Senator John Cornyn of Texas, said the company’s decision to pick Texas was a testament to the state economic environment based on low taxes, reasonable regulations and robust infrastructure. .

Texas suffered a widespread multi-day power outage last February, causing some 300-400 billion won ($ 254-339 million) in damage to Samsung’s existing chip plant in Austin.

“I am extremely confident that the power grid is stable, resilient and reliable,” Abbott said when asked about the power supply for the plant.

The new Williamson County, Texas site, which includes the town of Taylor, offered the best incentive package among sites Samsung is considering, sources told Reuters news agency.

Abbott’s office said on Tuesday that Samsung would also receive a $ 27 million grant from the Texas Enterprise Fund for its job creation. His office did not immediately respond to requests for additional details on the incentives received by Samsung.

The administration of US President Joe Biden has pledged billions of dollars in federal funding to boost chip manufacturing and research to ensure it has the edge over China in advanced technology and to remedy shortages in critical sectors such as the automotive industry.

Senator Cornyn on Tuesday called on the Biden administration to invest more money to attract chipmakers to the United States, calling it a “national security imperative.”

Innovation

“If China continues to swing, the majority of the world could be at its mercy when it comes to critical semiconductor supplies,” said Cornyn.

Samsung’s Kim, in a statement, thanked the Biden administration for “creating an environment that supports companies like Samsung as we work to develop advanced semiconductor manufacturing in the United States.”

“We also thank the administration and Congress for their bipartisan support to quickly enact federal incentives for national chip production and innovation.”

Samsung has not specified what the new plant will do beyond advanced logic chips, which can be used to power mobile devices and autonomous vehicles.

Analysts said it would likely make cutting-edge chips of 5 nanometers or less, using machines made by ASML of the Netherlands, for big customers like Qualcomm.

Such chips can handle more data per zone than the 14- and 28-nanometer chips made primarily by Samsung’s current US plant in Austin.


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Australian senator says DeFi ‘won’t go away anytime soon’ https://hoteloliebol.com/australian-senator-says-defi-wont-go-away-anytime-soon/ Mon, 22 Nov 2021 02:52:25 +0000 https://hoteloliebol.com/australian-senator-says-defi-wont-go-away-anytime-soon/ Senator Jane Hume said decentralized finance (DeFi) “presents enormous opportunities” for Australia to strengthen its place as “a forerunner in innovation and economic progress”. Senator Hume was talking at the Australian Financial Review Super & Wealth Summit in Sydney on Monday 22 November. She is Australia’s Minister for Women’s Economic Security, representing the Liberal Party […]]]>

Senator Jane Hume said decentralized finance (DeFi) “presents enormous opportunities” for Australia to strengthen its place as “a forerunner in innovation and economic progress”.

Senator Hume was talking at the Australian Financial Review Super & Wealth Summit in Sydney on Monday 22 November. She is Australia’s Minister for Women’s Economic Security, representing the Liberal Party and the State of Victoria. The main focus of the conference was on super and government retirement funds – notoriously slow and steady investments. The comments on DeFi are more notable in this regard.

Senator Hume called on industry and government to recognize that DeFi is “not a fad” and to “move forward with caution, but not with fear” because the technology “is not going away anytime soon.”

“If the last 20 or 30 years have taught us anything, it’s that all innovation starts as a disruption and ends as a household name,” she said. She also referred to the fast-paced nature of the industry:

“Decentralized finance backed by blockchain technology will present incredible opportunities – Australia should not be left behind by fear of the unknown. “

Speaking on the policy, she noted that Australia’s economic future will be shaped by “innovation” and “adoption of technology” as the country continues to recover from the financial toll of the pandemic of COVID-19.

She also praised industry players for “embracing innovation and developments in this space”, particularly around blockchain technology, with specific reference to the Commonwealth Bank.

On November 3, the bank announced that it would allow 6.5 million users of its banking app to trade 10 crypto assets, including Bitcoin, Ether, Bitcoin Cash, and Litecoin.

“This will make CBA the first Australian bank – and one of the few banks in the world – to offer customers this kind of access,” she said.

Related: Average Australian Crypto Portfolio Grows 258% in FY20-21, Survey Finds

According to Finder’s Crypto Survey of 27,400 respondents, 17% of Australians invest in cryptocurrency. However, the country’s adoption of crypto has come under increasing pressure from lawmakers and regulators.

Last month, the Senate committee of pro-crypto NSW Senator Andrew Bragg released its “Cryptocurrency Report,” which made 12 recommendations designed to address key issues in the cryptocurrency industry.

Bragg said the recommendations will allow Australia to compete with major jurisdictions for the blockchain and crypto industries, including Singapore, the United States and the United Kingdom.


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dependency industries: RIL withdraws NCLT’s request for O2C transfer, to start new negotiations with Saudi Aramco for the sale of shares https://hoteloliebol.com/dependency-industries-ril-withdraws-nclts-request-for-o2c-transfer-to-start-new-negotiations-with-saudi-aramco-for-the-sale-of-shares/ Sat, 20 Nov 2021 00:32:00 +0000 https://hoteloliebol.com/dependency-industries-ril-withdraws-nclts-request-for-o2c-transfer-to-start-new-negotiations-with-saudi-aramco-for-the-sale-of-shares/ Reliance Industries has scrapped plans to sell its petroleum-to-chemicals (O2C) business, planned as part of a possible sale of a stake to Saudi Aramco, paving the way for further negotiations between the two companies. said the company will continue to be Saudi Aramco’s preferred partner for private sector investments in India and that it will […]]]>
Reliance Industries has scrapped plans to sell its petroleum-to-chemicals (O2C) business, planned as part of a possible sale of a stake to Saudi Aramco, paving the way for further negotiations between the two companies. said the company will continue to be Saudi Aramco’s preferred partner for private sector investments in India and that it will work with Saudi Aramco and SABIC for investments in Saudi Arabia.

On Friday evening, India’s largest private sector company by market capitalization said it had withdrawn its application to the National Company Law Tribunal (NCLT) for segregation of O2C business. RIL first announced that it was in talks with Saudi Aramco to sell a 20% stake in its O2C business in August 2019. Subsequently, the company announced a detailed plan to create a separate entity for the company. in September 2020.

“Due to (the) evolving nature of Reliance’s business portfolio, Reliance and Saudi Aramco have mutually determined that it would be beneficial for both parties to reassess the proposed investment in O2C business in light of the changed environment.” RIL said in a statement. declaration.

RIL had filed a proposal to split the O2C business with NCLT in Mumbai and Ahmedabad and previously said it expected approvals by Q2 2021-2022. RIL said both entities “have made significant efforts in the due diligence process” despite Covid’s restrictions.

“The deep engagement over the past two years has allowed Reliance and Saudi Aramco to better understand each other, providing a platform for broader areas of cooperation. Saudi Aramco and Reliance are deeply committed to creating a win-win partnership and will make future disclosures where appropriate, ”said RIL.

The negotiation between RIL and Saudi Aramco can now include the new own initiatives announced by the company headed by Mukesh Ambani.

RIL stock closed at Rs 2,473 on Thursday on BSE, up 0.35% from the previous close. Indian markets were closed on Friday.

In June, Ambani announced ambitious plans to invest Rs 75,000 crore over the next three years to start a new clean energy company to fuel the conglomerate’s commitment to be carbon neutral by now. 2035. The plan has three parts – a base investment of Rs 60,000 in four of the giga factories that will manufacture and fully integrate all critical components for the business; an investment of Rs 15,000 crore in building the value chain, partnerships and future technologies, including upstream and downstream industries; and the reorientation of the company’s engineering, project management and construction capabilities towards clean energy.

“Jamnagar, which represents a significant portion of O2C assets, is expected to be the center of Reliance’s new renewable energy and new materials business, supporting the net zero commitment,” said RIL.


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Dutch battery start-up LionVolt completes € 4 million start-up cycle led by Innovation Industries https://hoteloliebol.com/dutch-battery-start-up-lionvolt-completes-e-4-million-start-up-cycle-led-by-innovation-industries/ Thu, 18 Nov 2021 07:10:00 +0000 https://hoteloliebol.com/dutch-battery-start-up-lionvolt-completes-e-4-million-start-up-cycle-led-by-innovation-industries/ EINDHOVEN, Netherlands – (COMMERCIAL THREAD) – European battery start LionVolt announced today that it has successfully closed a round of funding of 4 million euros, bringing its total funding this year to more than 5 million euros. The round was led by a venture capital firm Deep Tech Innovative industries and joined by a start-up […]]]>

EINDHOVEN, Netherlands – (COMMERCIAL THREAD) – European battery start LionVolt announced today that it has successfully closed a round of funding of 4 million euros, bringing its total funding this year to more than 5 million euros.

The round was led by a venture capital firm Deep Tech Innovative industries and joined by a start-up fund focused on Brabant Brabantse Ontwikkelingsmaatschappij (Brabant Development Agency, BOM) and renowned investor Sake Bosch. LionVolt split last year from TNO To Holst Center, drawing on six years of research and development of its innovative battery design.

The funding will support the company’s development of a lithium-ion solid-state battery that is more efficient and durable than any lithium-ion battery available on the market today. LionVolt’s state-of-the-art design delivers higher energy density, faster charging, and longer life – leading to fewer batteries used (and discarded) over time. The LionVolt battery will power technology in several industries including wearable devices, electric vehicles (EVs) and aviation.

“The battery industry needs a bold new approach to meet evolving needs in terms of cost, performance, safety and sustainability. We are pioneering this solution while creating a strong ecosystem to support this innovation, ”said Karl McGoldrick, CEO of LionVolt. “The support of TNO and our investors will not only take our R&D to the next level, but further establish the Netherlands as a climate technology hub. ”

“This is an exciting step for LionVolt,” said LionVolt CTO and co-founder Dr. Sandeep Unnikrishnan. “We are creating batteries that will transform the energy sector in terms of safety, energy density and performance. LionVolt is proud to continue its revolutionary innovation in the Brabant region. ”

“LionVolt’s new technology will provide consumers with better, longer-lasting batteries while also helping the adoption of exciting technologies such as portable devices and electric cars,” added Nard Sintenie, partner at Innovation Industries. “We are proud to work with LionVolt and support their mission to revolutionize the battery industry. ”

“LionVolt is a vivid example of the innovation happening in the Brabant region of the Netherlands,” added Jurgen van Eck from the Brabant Development Agency (BOM). “The nomenclature invests in LionVolt because the company has enormous potential. Almost 80% of the supply chain that the company needs to build a production line can be supplied locally. LionVolt could be one of the next major OEMs in the Brainport area.

Earlier this year, LionVolt already raised € 1.25 million from TNO, venture capital firm Deep Tech Innovation Industries, impact fund Goeie Grutten and the Brabant-focused startup investment. , the Brabant Startup Fonds (BSF) and the Brabantse Ontwikkelingsmaatschappij (BOM).

About LionVolt

With more than seven years of R&D at the TNO Holst Center, LionVolt is developing a 3D solid-state lithium metal battery. Its mission is to present new generation batteries with high energy density, fast charging, safe and efficient while being more environmentally friendly than traditional lithium-ion batteries. LionVolt’s design is 100% safe, weighs 50% less, and offers 200% improved performance over the most advanced lithium-ion batteries available today. To learn more, visit www.lionvolt.com.

About Innovation Industries

Innovation Industries is a leading investment firm and strategic innovation partner for lasting impact, leveraging deep industry expertise and rich business flow in areas such as semi -con, photonics, robotics, medical technologies, food technologies and mechatronics. We facilitate and drive the creation and large-scale adoption of sustainable deep technology solutions and translate these opportunities into value for our investors and other stakeholders. We invest at all stages of development and our typical investment size ranges from 5 to 30 million euros (cumulative). For more information on Innovation Industries, see: www.innovationindustries.com

About Brabantse Ontwikkelingsmaatschappij (BOM)

The Brabant Development Agency (BOM) works with entrepreneurs to create a sustainable Brabant economy. BOM shares knowledge, develops networks and provides capital to innovative Brabant companies and sustainable energy projects. It also encourages forward-looking international companies to set up in Brabant and supports companies already established in Brabant to expand their presence abroad. BOM strives to foster economic growth, increase employment opportunities, present solutions to social problems and ensure Brabant has a leading role on the world stage. Over the past four years, BOM has worked with over 600 companies to catalyze change and achieve impact. For more information, please visit www.bom.nl


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China’s stagflation risk rises as growth slows: a green week ahead https://hoteloliebol.com/chinas-stagflation-risk-rises-as-growth-slows-a-green-week-ahead/ https://hoteloliebol.com/chinas-stagflation-risk-rises-as-growth-slows-a-green-week-ahead/#respond Sat, 06 Nov 2021 21:00:00 +0000 https://hoteloliebol.com/chinas-stagflation-risk-rises-as-growth-slows-a-green-week-ahead/ (Bloomberg) – Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Bloomberg’s Most Read Inflation risks in China are rising as new outbreaks of Covid-19 cloud the outlook for economic growth, shining the spotlight on policymakers as top Communist Party leaders gather for a crucial political meeting this […]]]>

(Bloomberg) – Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

Bloomberg’s Most Read

Inflation risks in China are rising as new outbreaks of Covid-19 cloud the outlook for economic growth, shining the spotlight on policymakers as top Communist Party leaders gather for a crucial political meeting this week.

Sunday’s trade data will provide clues to the strength of global demand and whether it can continue to support the recovery as domestic engines weaken. Exports likely grew at a double-digit pace in October, albeit at a slightly slower pace than in September, due to a higher base of comparison than last year. Import growth is likely to have accelerated due to higher prices and seasonal demand.

Next is inflation data on Wednesday, which is expected to show a further increase in ex-factory prices to a new 26-year high and rising costs for consumers. More companies are starting to pass higher raw material costs on to their customers, while vegetable prices have recently skyrocketed due to bad weather.

The data comes against the backdrop of a high-level meeting of the Communist Party’s Central Decision-Making Committee from Monday to Thursday, during which President Xi Jinping could lay the groundwork for an extension of his term as head. While no economic plans are expected from the plenary sessions, analysts will be watching closely for any signals on future policy.

The Chinese economy has slowed sharply in recent months as efforts to curb the housing market spill over into sectors from construction to commodities. On top of that, an energy shortage has forced factories to slow production, while strict measures to curb virus outbreaks have held back spending. Premier Li Keqiang said last week that the economy is facing “further downward pressure” and policies need to be fine-tuned to provide targeted support to areas in need.

Credit data due for release this week should show a slight recovery in overall funding in October compared to the same period last year, a sign that the credit slowdown is bottoming out. The central bank recently asked banks to ease some of the excessive restrictions on lending to the real estate sector.

What Bloomberg Economics Says …

“Credit expansion has likely cooled – typical for the start of the fourth quarter. Political efforts to accelerate mortgages and dampen the real estate sector may have prevented a more pronounced slowdown.”

–For a full analysis, click here

Elsewhere, central bankers in Mexico and Romania are expected to raise interest rates again, while their counterparts in Thailand, Serbia and Peru are expected to keep borrowing costs unchanged. Federal Reserve Chairman Jerome Powell and European Central Bank President Christine Lagarde are among dozens of policymakers expected to speak out.

Click here to see what happened last week. Below is our recap of what’s going on in the global economy.

we

Investors will wait for the latest price data for consumers and producers. The numbers will be analyzed in the ongoing inflation debate, and whether recent cost increases in industries will last or recede as pandemic ripples subside.

Several Fed policymakers will also speak in public, after the US central bank said on Wednesday that it would begin this month to reduce its bond purchases, instituted to support the economy during the Covid epidemics. 19. Fed Chairman Powell is expected to speak at a joint Fed, ECB and Bank of Canada conference on diversity. Fed officials Mary Daly, Neel Kashkari and John Williams are also expected to attend events, among others.

Asia

The Bank of Japan is releasing a summary of views from its recent meeting on Monday that could further inform its perspective on the path of the economy as Japanese Prime Minister Fumio Kishida reflects on the details of a stimulus package this month . Wage data released on Tuesday is likely to show the continued weakness in wages that the new prime minister has highlighted as weak economic policies in recent years.

South Korea’s employment figures are released on Wednesday, a key data point as the central bank considers another interest rate hike.

Australia’s jobs figures could still encourage investors to consider earlier rate hikes down after market pressure prompted the central bank to abandon its target of yield control.

The Philippines releases third-quarter GDP data on Tuesday, Thailand sets interest rates on Wednesday, and Malaysia releases GDP figures on Friday.

Europe, Middle East, Africa

After two successful weeks which saw the government budget and the Bank of England move, the UK focus will be on Thursday’s growth data. This will give the first official glimpse into the extent of the economic slowdown in the third quarter. Economists predict that output growth will slow to 1.5% from the previous quarter.

Gross domestic product readings are also expected for Russia, Poland and Saudi Arabia, with economists monitoring these to see if the non-oil recovery accelerated in the three months leading up to September.

ECB President Lagarde is among several eurozone central bankers expected to speak this week, with officials increasingly divided over how quickly monetary policy should respond to stubbornly high inflation. The new economic forecast from the European Commission due Thursday could shed additional light on when price pressures may ease.

Romania’s central bank is expected to raise its key rate for a second consecutive meeting in order to contain high inflation for a decade. Serbia, meanwhile, will likely hold up.

South African Finance Minister Enoch Godongwana will present his first medium-term budget on Thursday. A windfall in revenue from rising commodity prices and changes in the way GDP is calculated will likely lead to improvements in key fiscal parameters. Godongwana will also indicate whether a highly speculated basic income subsidy will be introduced.

On the same day, Rwanda’s central bank will likely keep its key interest rate at a record 4.5% to support economic growth as it battles deflation.

Latin America

Three of the region’s major economies are releasing October inflation data this week. In Chile, most analysts expect an acceleration from September’s impression of 5.3%, which beat expectations for a third month. Traders see 5.8% inflation at the end of the year, well above the 3% target.

Mexico reports consumer price figures for the month and two weeks on Tuesday, two days before the Banxico rate-setting meeting. The overall figure is over 6% and market expectations see it close to 6.5% by the end of the year.

In Brazil, most analysts predict that inflation – expected Wednesday – climbed in October from September’s result of 10.25%. The country’s key rate stands at 7.75% and the central bank has announced that a hike to 9.25% is scheduled for its December meeting.

Mexico’s central bank is widely seen as raising its policy rate Thursday by a quarter point for the fourth time in a row to 5%, with inflation well above its 3% target.

Peru’s central bank can be expected to continue tightening on Thursday, raising the policy rate by at least half a point to 2% after the consumer price hike in October.

Bloomberg Businessweek Most Read

© 2021 Bloomberg LP


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Wall St extends record rally on strong jobs report, Pfizer COVID-19 pill cheer https://hoteloliebol.com/wall-st-extends-record-rally-on-strong-jobs-report-pfizer-covid-19-pill-cheer/ https://hoteloliebol.com/wall-st-extends-record-rally-on-strong-jobs-report-pfizer-covid-19-pill-cheer/#respond Fri, 05 Nov 2021 20:19:00 +0000 https://hoteloliebol.com/wall-st-extends-record-rally-on-strong-jobs-report-pfizer-covid-19-pill-cheer/ Traders work on the floor of the New York Stock Exchange (NYSE) in New York, United States, October 20, 2021. REUTERS / Brendan McDermid Pfizer climbs after positive data on antiviral pill COVID-19 October payroll rises as virus impact wears off Travel stocks lead wider market gains Pinterest rises as the holiday season promises to […]]]>

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, United States, October 20, 2021. REUTERS / Brendan McDermid

  • Pfizer climbs after positive data on antiviral pill COVID-19
  • October payroll rises as virus impact wears off
  • Travel stocks lead wider market gains
  • Pinterest rises as the holiday season promises to be bright
  • Rising indices: Dow 0.63%, S&P 0.57%, Nasdaq 0.58%

Nov. 5 (Reuters) – Major Wall Street indices hit record highs in a widespread rally on Friday, as data showing strong job growth in October, coupled with the COVID pill update Pfizer’s -19 boosted sentiment about economic growth.

Ten of the top 11 S&P sectors grew, with three of them gaining more than 1% each. The Russell 2000 Small Cap Index (.RUT) rose 1.6%, also hitting a record high.

The Department of Labor report showed employment in the United States grew more than expected last month as COVID-19 infections over the summer eased, although worker shortages continued boost wage growth, with annual hourly earnings reaching 4.9% in October. Read more

“While (the data) bodes well for the recovery in the United States, the 4.9% year-on-year profit increase highlights concerns about wage inflation,” said Susannah Streeter, analyst principal of investments and markets at Hargreaves Lansdown.

“But the numbers are unlikely to be hot enough to sway the Federal Reserve off its race to phase down its stimulus package.”

Pfizer Inc (PFE.N) jumped 7.9% after the drugmaker’s experimental antiviral pill for COVID-19 reduced the risk of developing serious illness by 89%. [nL1N2RW0N5]

Shares of Merck (MRK.N) fell 9.6%, dragging the S&P healthcare sector (.SPXHC) lower.

Travel inventories rose after Pfizer’s announcement, the S&P 1500 Airlines Index (.SPCOMAIR) climbing 6.5% and cruise lines Carnival Corp (CCL.N), Royal Caribbean Cruises (RCL.N) and Norwegian Cruise (NCLH.N) increasing by approximately 9% each.

“It’s still early days to be definitive, but this (pill) seems to be a game-changer for many industries like leisure and transportation, you see it reflected in the prices,” said Andre Bakhos, Managing Director of New Vines Capital. LLC in Bernardsville, New Jersey.

“Profits for the most part are pretty solid, promising. It’s not a perfect world, but overall the numbers are good.”

Among profit-driven moves, Expedia (EXPE.O) jumped 14.5% after the online travel agency posted bullish third-quarter revenue, while Pinterest Inc (PINS.N) climbed 7.1% on a strong fourth quarter revenue forecast. Read more

A strong third quarter reporting season, coupled with good earnings growth prospects as well as a central bank in no rush to raise interest rates, recently boosted investor appetite for equities.

Meanwhile, President Joe Biden urged US lawmakers worried about rising inflation on Friday to pass the infrastructure and domestic spending bills currently before the House of Representatives. Read more

At 12:03 p.m. ET, the Dow Jones Industrial Average (.DJI) was up 226.01 points, or 0.63%, to 36,350.24, the S&P 500 (.SPX) was up 26.88 points, or 0.57%, to 4,706.94, and the Nasdaq Composite (.IXIC) rose 92.12 points, or 0.58%, to 16,032.43, crossing the bar for the first time of the 16,000.

Shares of so-called “home” names like Zoom Video Communications (ZM.O) and Netflix Inc (NFLX.O) fell 6.6% and 1.9%, respectively.

Peloton Interactive Inc (PTON.O) fell 34.0% after slashing its full-year sales outlook to $ 1 billion. Read more

Rising issues outnumbered declines by a 2.48-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq.

The S&P Index recorded 82 new 52-week highs and two new lows, while the Nasdaq recorded 282 new highs and 58 new lows.

Reporting by Devik Jain and Bansari Mayur Kamdar in Bengaluru; Editing by Maju Samuel

Our standards: Thomson Reuters Trust Principles.


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The cost of coal in South Africa: dirty skies, sick children https://hoteloliebol.com/the-cost-of-coal-in-south-africa-dirty-skies-sick-children/ https://hoteloliebol.com/the-cost-of-coal-in-south-africa-dirty-skies-sick-children/#respond Thu, 04 Nov 2021 10:45:00 +0000 https://hoteloliebol.com/the-cost-of-coal-in-south-africa-dirty-skies-sick-children/ EMALAHLENI, South Africa, November 4 (Reuters) – In 2019, scientists working for the South African government completed a study on the health impacts of pollution caused by the country’s sprawling coal industry. Researchers from the Public Council for Scientific and Industrial Research had been assured by government authorities that their multi-year study would be published, […]]]>

EMALAHLENI, South Africa, November 4 (Reuters) – In 2019, scientists working for the South African government completed a study on the health impacts of pollution caused by the country’s sprawling coal industry.

Researchers from the Public Council for Scientific and Industrial Research had been assured by government authorities that their multi-year study would be published, according to three people familiar with the matter.

So far, it has not seen the light of day.

The study, a copy of which was reviewed by Reuters, showed that more than 5,000 South Africans die each year in the country’s coal belt because the government has not fully enforced its own quality standards for the air. He also revealed that nearly a quarter of households in the region, home to 3.6 million people, have children with persistent asthma. This is double the national rate.

The South African government has granted emissions limit waivers to its indebted state-owned electricity and fuel companies, Eskom and Sasol, since 2015, saving them money.

This kind of continued government support highlights a problem in many coal-dependent countries, from Australia to Indonesia, that is hampering the transition to cleaner energy. In producing countries, governments, businesses and local residents often view coal as an economic lifeline.

South Africa’s coal industry, the fifth largest in the world, employs 90,000 miners, generates 80% of the country’s electricity and supplies the raw material for about a quarter of the country’s liquid fuel for vehicles, all at a time of growing unemployment and frequent blackouts.

The costs of a gigantic coal industry are also high, and not just for the climate. The South African coal belt is covered with smog and coal ash; the stench of sulfur invades. The region east of Johannesburg is among the most polluted in the world, according to experts, rivaling Beijing and New Delhi.

In 2017, British air pollution expert Mike Holland calculated that the health impacts of Eskom’s emissions alone cost South Africa $ 2.37 billion each year.

Environment Minister Barbara Creecy, whose ministry commissioned the 2019 Coal Health Study, declined to say why it remains unpublished. She said the government still intends to release it at some point.

“We understand that there are serious health issues facing communities,” she said, adding that the government considers improving air quality “absolutely imperative”.

But the Creecy agency – the Department of Fisheries, Forests and the Environment – has publicly defended its lax enforcement of pollution regulations as an economic necessity in legal battles with activists. In a recent filing, he said his main challenge was to tackle pollution without hurting “the poor, who are desperate for employment opportunities.”

COAL IN THE DIRECTION

As the United Nations climate conference, COP26, in Glasgow kicks off this month, coal is in the sights of a global push to replace it with cleaner fuels. Read more

South Africa is the 12th largest emitter of greenhouse gases in the world, according to the non-profit organization Global Carbon Atlas. This water-stressed country is also one of the big losers from climate change. Temperatures in southern Africa are rising twice as fast as the global average, according to the International Panel on Climate Change, pushing the deserts of the region’s northwest to the south.

In an effort to secure foreign investment, Eskom is proposing a $ 10 billion plan to shut down most of its coal-fired power plants by 2050 and embrace renewables like wind and solar, with funding from rich countries . The United States, Britain, France, Germany and the European Union gave the effort a boost on Tuesday, offering $ 8.5 billion to help South Africa move out of coal .

Eskom’s green push, however, has brought the company into conflict with Energy Minister Gwede Mantashe, who has called the abandonment of coal “economic suicide”. Read more

Mantashe represents a powerful constituency within the ruling ANC which includes labor unions whose support depends on the party to win the election. These unions, like Mantashe, are concerned about job losses.

“We shouldn’t collapse our economy because they are hungry for green finance,” Matashe said at a mining conference in South Africa in October. He previously said that shutting down the country’s coal plants would allow South Africans to “breathe fresh air in the dark”.

Mantashe declined to comment for this story.

Darkness is already a familiar experience in the Coal Belt. Power cuts are a daily reality for the slums strung between mine shafts and cooling towers in towns like Emalahleni – “The Coal Square” in the Zulu language.

If people stay, it is for the good fortune of having a job.

‘HER CHEST IS REFINED’

Mbali Matabule and his partner were high school students when they exchanged phone numbers on a dirt road in Vosman, a township outside Emalahleni. After graduation, her partner found work at Sasol’s Secunda plant, which turns coal into liquid fuel for cars. The following year, Matabule gave birth to their first child, Princess.

Her salary enabled them to feed and clothe their daughter and to buy the accessories of bourgeois life: a television, a microwave, a refrigerator and an electric stove to install in their cabin in the compound of her parents.

Then, in May 2018, as she neared her fourth birthday, Princess started having trouble breathing. They rushed her to the hospital, where a doctor put a mask on Princess’s face attached to a nebulizer.

“They said she had asthma,” said Matabule. “I thought: why? She was not born with asthma. “

Towards the end of this year, they had a second child, Asemahle, who quickly developed breathing problems.

“Her chest was rough,” said Matabule.

Hospital visits became routine and medical costs began to rise. Without health insurance, the couple spent 2,500 rand ($ 184.03) per month on medical bills for their children, almost half of Mbali’s partner’s salary.

AMONG THE WORLD’S WORST

The smog released from burning coal contains chemicals like oxides of sulfur and nitrogen, mercury and lead, and radioactive elements like uranium and thorium.

“We know that coal air pollution causes lung problems, heart disease. It harms the cognitive development of children,” said Mohammed Tayob, a doctor in Middleberg, one of the worst affected towns in the country. coal belt.

The 2019 CSIR study obtained by Reuters concluded that 5,125 lives could be saved each year in the coal belt by applying national air quality standards on soot, also known as particulate matter.

Emalahleni’s air, he said, contains about 20% more particles than the national limit of 40 micrograms per cubic meter, and more than three times more than recommended by the World Health Organization.

The region’s sulfur dioxide levels, meanwhile, are out of the ordinary. The nonprofit Energy and Clean Air Research Center this month found that Eskom alone emits more SO2 than the entire power sector in the United States and China combined.

Cleaning up the air would require a crackdown on polluting industries.

Eskom’s environmental official Deidre Herbst told Reuters that government waivers allowing his company to exceed pollution limits were an economic necessity: it would cost R300 billion ($ 20 billion) and take 10 to 15 years to fully meet national SO2 standards, resulting in extended outages in the meantime.

“It is impossible for us to become immediately compliant,” she said, and South Africa cannot just shut down all of its coal-fired power plants.

Sasol spokesman Matebelo Motloung said the company’s shows were licensed under its operating licenses and the company hoped to adopt cleaner technologies in the future.

“PEOPLE WERE SICK AND DYING”

Matabule hadn’t imagined that the haze in her neighborhood was causing her children’s illness until she attended a local meeting on air pollution and heard stories from neighbors.

“I got so angry because no one was doing anything and people were sick and dying,” Matabule said.

But, like her husband who relies on coal for a salary, many in her community are wary of a transition to cleaner energy.

Vosman resident Valentia Msiza, 33, said her family has been doing well since her husband got his job in the coal mines. They fear that a transition will leave them behind.

They too have a child with breathing problems – and they cannot afford his care without the husband’s salary and health insurance. The family is looking for a specialist doctor to treat their toddler’s lung disease.

“It’s our last hope now,” said Valentina.

Editing by Richard Valdmanis and Brian Thevenot

Our standards: Thomson Reuters Trust Principles.


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474.96K units growth in the heavy-duty truck market | With key players including AB Volvo, BYD Co. Ltd. and CNH Industrial NV https://hoteloliebol.com/474-96k-units-growth-in-the-heavy-duty-truck-market-with-key-players-including-ab-volvo-byd-co-ltd-and-cnh-industrial-nv/ https://hoteloliebol.com/474-96k-units-growth-in-the-heavy-duty-truck-market-with-key-players-including-ab-volvo-byd-co-ltd-and-cnh-industrial-nv/#respond Wed, 03 Nov 2021 01:09:54 +0000 https://hoteloliebol.com/474-96k-units-growth-in-the-heavy-duty-truck-market-with-key-players-including-ab-volvo-byd-co-ltd-and-cnh-industrial-nv/ NEW YORK, November 2, 2021 / PRNewswire / – The heavy-duty truck market size is expected to grow by 474.96,000 units between 2020 and 2025. However, the growth momentum is expected to slow to a CAGR of nearly 6% during the forecast period. The report offers up-to-date analysis regarding the current market scenario, the latest […]]]>

NEW YORK, November 2, 2021 / PRNewswire / – The heavy-duty truck market size is expected to grow by 474.96,000 units between 2020 and 2025. However, the growth momentum is expected to slow to a CAGR of nearly 6% during the forecast period. The report offers up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

Attractive Opportunities in Heavy Duty Truck Market by GVWR and Geography – Forecast and Analysis 2021-2025

Get more insight into market size, growth variance, and YOY growth rates by purchasing our full report.
Read our free sample before you buy

Factors such as the growing demand for heavy trucks in emerging countries and the increasing demand for heavy trucks from truck rental service providers will provide immense opportunities for growth. To take advantage of current opportunities, market sellers need to strengthen their presence in fast growing segments, while maintaining their positions in slow growing segments. The heavy duty truck market is concentrated and the degree of concentration will slow down during the forecast period.

The report covers the following areas:

Heavy Truck Market 2021-2025: Segmentation

The class 8 segment generated maximum revenue in the market in 2020. The market growth in the segment is expected to be significant during the forecast period. The growth of the segment is mainly driven by the mining and construction industries worldwide. By region, the market will experience maximum growth in APAC during the forecast period. Factors such as high demand for heavy duty trucks from construction industry, expanding population and increasing economic activities in emerging countries are driving the growth of heavy duty truck market in APAC during the forecast period .

Get the highlights on the top performing segments and regions by Download our free sample

Heavy Duty Truck Market 2021-2025: Analysis and Scope of Suppliers

To help companies improve their market position, the heavy goods vehicle market provides a detailed analysis of about 25 vendors operating in the market. Some of these suppliers include AB Volvo, BYD Co. Ltd., CNH Industrial NV, Daimler AG, Hino Motors Ltd., Navistar International Corp., PACCAR Inc., Scania AB, Tesla Inc. and Volkswagen AG.

The heavy truck market is concentrated and the degree of concentration will slow down. The growing demand for heavy goods vehicles in emerging countries will offer immense growth opportunities. However, the high manufacturing costs of heavy duty trucks will hamper the growth of the market.

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Heavy Truck Market 2021-2025: Highlights

  • Market CAGR during the forecast period 2021-2025

  • Detailed information on the factors that will help the heavy duty truck market growth over the next five years

  • Estimated Heavy Truck Market Size and Its Contribution to Parent Market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the heavy goods vehicle market

  • Market competitive landscape analysis and detailed supplier information

  • Complete details of the factors that will challenge the growth of heavy duty truck vendors market

Associated reports:
Global Dump Truck Market – The global dump truck market is segmented by application (construction, mining and agriculture) and geography (APAC, North America, Europe, South America, and MEA).
Download an exclusive free sample report

Global Forklift Market – The global forklift truck market is segmented by type (Class V, Class III, Class I, Class II and Class IV) and geography (APAC, Europe, North America, MEA and South America).
Download an exclusive free sample report

Scope of the heavy-duty truck market

Cover of the report

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth dynamics and CAGR

Decelerate to a CAGR of almost 6%

Market growth 2021-2025

474.96 thousand units

Market structure

Concentrated

Annual growth (%)

7.82

Regional analysis

APAC, Europe, North America, South America and MEA

Efficient contribution to the market

APAC at 58%

Main consumer countries

China, United States, India, Germany and Brazil

Competitive landscape

Leading companies, competitive strategies, reach of consumer engagement

Profiled companies

AB Volvo, BYD Co. Ltd., CNH Industrial NV, Daimler AG, Hino Motors Ltd., Navistar International Corp., PACCAR Inc., Scania AB, Tesla Inc. and Volkswagen AG.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Obstacles, Analysis of Fast Growing and Slow Growing Segments, Impact of COVID-19 and Future Consumer Dynamics, Analysis of Market Conditions for the Forecast Period.

Customization

If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.

About Us

Technavio is one of the world’s leading technology research and consulting companies. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s report library includes over 17,000+ reports, spanning 800 technologies, spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research and actionable market intelligence to identify opportunities in existing markets. and potentials and assess their competitive positions in changing market scenarios.

Contact

Technavio research
Jesse maida
Communication and Marketing Officer
United States: +1 844 364 1100
United Kingdom: +44 203 893 3200
E-mail: media@technavio.com
Website: www.technavio.com/

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Georgetown Public Policy Review / “Buying America”: Protectionist or Politically Practical Peril? https://hoteloliebol.com/georgetown-public-policy-review-buying-america-protectionist-or-politically-practical-peril/ https://hoteloliebol.com/georgetown-public-policy-review-buying-america-protectionist-or-politically-practical-peril/#respond Sun, 31 Oct 2021 23:58:14 +0000 https://hoteloliebol.com/georgetown-public-policy-review-buying-america-protectionist-or-politically-practical-peril/ ‘Buy America ‘: protectionist or politically practical peril? The issue of public procurement: In January 2021, President Biden signed Executive Order 14005, “Ensuring the Future is Made in All of America by All of America’s Workers. Commonly referred to as “Buy America,” EO 14005 is a prime example of the Biden administration’s commitment to reducing […]]]>

Buy America ‘: protectionist or politically practical peril?

The issue of public procurement:

In January 2021, President Biden signed Executive Order 14005, “Ensuring the Future is Made in All of America by All of America’s Workers. Commonly referred to as “Buy America,” EO 14005 is a prime example of the Biden administration’s commitment to reducing reliance on critical foreign supply chains. This initiative aims to redirect government procurement spending, which represents nearly $ 600 billion annually, from foreign manufacturers to domestic manufacturers. Through waivers and lenient concessions in previous “Buy in America” initiatives, government procurement in the United States has the potential to become an international business. Foreign countries often reap the benefits of these allowances, as it was estimated in 2017 that nearly 80% of US government procurement were open to foreign suppliers. Although government procurement flows are standard, especially among the WTO GPA (World Trade Organization Agreement on Government Procurement), some countries, such as China, currently operate outside this framework. This makes government procurement in China, a nation that has ignored international human rights standards and adopted a recalcitrant attitude towards international regulation, more difficult to justify.

President Biden’s plan has the ambitious goal of alleviating some of the political and moral ambiguity associated with current procurement practices. While similar ‘Buy America’ initiatives have been championed by nearly every US president in recent times, President Biden’s plan stands out with unprecedented investments in domestic manufacturing and high thresholds for what may warrant a label. Made in America ”. Although currently “Made in America” can apply to any product where 55% of its components or value comes from national sources, the plan renewed “Proposes an immediate increase of the threshold to 60% and a gradual increase to 75%”. Although the protectionist initiatives described in “Buy America” ​​are not typical pillars of Democratic Party ideology, the Biden administration, given the effects of the pandemic and its support from Central America, have chosen to think differently.

A case for protectionism:

This shift to an “America First” mentality is not without reason, nor is it a true continuation of President Trump’s domestic or foreign policy agendas. During the COVID-19 pandemic, the United States dependence on foreign supply the chains and the workmanship became very clear. As a result, the Biden administration adopted the position that some goods “are simply too important to our national and economic security to depend on foreign sources.” Use of foreign supply chains to Personal protective equipment (PPE) provided a glaring example of the vulnerabilities that exist in the highly globalized consumer economy of the United States. In addition to infrastructure related to the pandemic, “Buy America” seeks to strengthen supply chains associated with the US semiconductor and clean energy industries. Like PPE production, semiconductor and solar infrastructure production is dominated by countries like China and Taiwan; both have made significant and ongoing government investments in these critical areas. While there is nothing inherently problematic about relying on the benefits of foreign production, the heightened tension between the United States and China has complicated trading partnerships. Some tension between the United States and China exists following the BRI (Belt and Road Initiative), which serves as a foil to President Biden’s “Build Back Better” plan. The Belt and Road Initiative has “Financed and built everything from power plants, railways, highways and ports to telecommunications infrastructure, fiber optic cables and smart cities around the world.” By engaging with foreign nations in this capacity, the PRC (People’s Republic of China) hopes to position itself as an alternative, if not a preferred option for the United States in the international development space.

A globalized reality:

While a strengthened Buy America plan would theoretically reduce dependence on countries like the PRC, it is by no means foolproof. Some experts believe that the current efforts of the Biden administration to restore domestic manufacturing will be detrimental to the average taxpayer. The Peterson Institute of Economics felt that “The annual cost to taxpayers of each American job ‘saved’ by Made in America is probably over $ 250,000.” This assumption is rooted in the historical precedent that ‘Buy America’ and related initiatives does not promote job creation, but rather “reject jobs from other sectors of the economy towards the purchasing sector”. This reallocation works like a “leaky bucket,” decreasing efficiency and raising prices through its efforts to cultivate domestic manufacturing. In addition, the success of this initiative will depend on the participation of key players in the private sector. The prospect of rising costs and inefficiencies may already raise some red flags, but some private sector leaders Remarkthat federal government purchases by themselves are not large enough to persuade manufacturers to relocate supply chains ”. These large companies may need more lucrative incentives before reorienting their business strategies, thus dampening the effectiveness of President Biden’s plan.

Although the Biden administration has had a tendency towards protectionism when confronted with shortcomings in the supply chain, the need for collaboration when faced with an ambitious PRC remains. Questions whether a “coalition of Western democracies could hold the clout to confront a rising China over its authoritarian and state-capitalist ways” continues to cast doubts on an inward-looking, positive-messaging economic policy . Thanks to organizations such as the Quad (United States, India, Australia and Japan) and its renewal strategic interest in the Indo-Pacific region, the United States seems ready to face China with the support of its regional neighbors. However, it is likely that if the United States is to guide China to global standards, the support of the European Union will be a prerequisite for success. President Biden’s commitment to “Buy America”, although expressed differently from that of his predecessor, is seen by some EU countries as a continuation of President Trump’s hard-line America’s platform. ‘on board. For this reason, European policy makers have developed a “Buy European” procurement plan in parallel. The publicity of these deliberations serves like “A clear wake-up call for the United States”, leveraging new standards of reciprocity in international public procurement compared to the President’s current agenda.

Looking forward:

The effectiveness of President Biden’s “Buy America” ​​initiative remains to be seen as he faces immense pressure to revive the US economy, ease its reliance on competing economies, and maintain strong relationships. with its historic allies. Throughout the Covid-19 pandemic, the inherent global connectivity has been exemplified time and again by the spread of the virus itself, but also by collaborative actions such as vaccine diplomacy. While as a developed and globalized nation it can be tempting to look inward in times of crisis, looking at “Buy America” ​​will not alleviate our international competition problem, but will rather exacerbate it. .


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