Why Tesla, crypto and prisons are Trump trade winners
Why Tesla, crypto and prisons are Trump trade winners
Getty Images
Financial markets greeted Donald Trump’s victory in the US presidential election with a blistering rally.
That’s despite considerable debate about how Trump’s plans for tariffs, lower taxes and mass migrant deportations might affect the world’s largest economy.
A week on, the surge finally appears to be settling. The three major stock indexes in the US are on track to end the day lower, after rising roughly 5% since 4 November, the day before the election.
Here are some of the companies that have come out ahead, as investors try to game out what the next four years might bring.
Tesla
Tesla shares have surged more than 40% since 4 November.
The rally has pushed the market value of the firm back above $1tn for the first time since 2022 and boosted the wealth of boss Elon Musk, who owns a roughly 13% stake in the company, by more than $50bn.
It marks a bet by investors that a Trump White House might ease up on some of the investigations by safety regulators into features such as self-driving.
The ties between Trump and Musk could also help Tesla navigate shifts in relationship between the US and China, where the company has a significant presence.
Although Trump is generally expected to reduce government support for electric vehicles, such as tax credits, analysts say this could actually benefit Tesla, the market leader in the US, making it ******* for rivals to catch up.
CryptocurrencyGetty Images
The price of the best-known cryptocurrency, Bitcoin, jumped more than 25% to new all-time records this week on the back of Trump’s win, briefly storming past $89,000.
The gains are a sign that investors are anticipating big changes for the sector, which faced a crackdown under the Biden administration from regulators warning it was rife with hucksters and fraudsters.
Trump once also called crypto a scam, but he changed his tune on the campaign trail this year, promising to make the US the “crypto capital of the planet”.
He said he would create a strategic bitcoin stockpile and sack Securities and Exchange Commission chair Gary Gensler, who had sparked anger by taking legal action against firms under existing financial laws.
Crypto firms insist their sector should be subject to new, tailor-made rules. That likely depends on Congress, where they could also get a friendlier hearing this year.
BanksGetty Images
Big bank bosses: (l-r) Wells Fargo’s Charles Scharf, Bank of America’s Brian Moynihan, JPMorgan Chase’s Jamie Dimon and Citigroup’s Jane Fraser
Shares in some of America’s biggest banks have seen double digit gains since the day before the election as investors bet financial firms will be among the most immediate beneficiaries of Trump’s promises for lighter regulation.
Among other issues, he will now have a voice shaping pending rules that set how much cash banks must keep on hand as financial cushion.
Trump is also expected to part ways with Lina Khan, current head of the Federal Trade Commission, who is known for her anti-monopoly views and is blamed for casting a chill on deal-making, a key business for banks.
Shares in Capital One and Discover, which have a merger under review by regulators, have jumped roughly 20% since the result.
Prison operatorsGetty Images
Shares in the leading publicly traded prison firms GEO Group and CoreCivic have jumped more than 70% since 4 November.
The gains point to the big opportunity investors see for private prison operators as Trump vows to round up and deport millions of migrants.
In 2021, President Joe Biden had ordered the Justice Department to stop doing business with private prison companies.
But Trump, who reversed a similar order during his first term, is expected to change that policy and drive new business, as he looks for help to carry out his immigration promises.
Trump’s first actions as president have been focused on assembling the team in charge of immigration policy, a signal it is likely to be a priority.
The dollarGetty Images
The dollar index is hovering at its highest level since April, rising more than 2% in the last week.
It is good news for ********* tourists travelling abroad – but a more mixed signal about the economy.
That is in part because the strength of the dollar is closely tied to interest rates, which investors are now ******** could stay higher than previously anticipated.
It partially reflects data from before the election suggesting the US economy is stronger than previously understood.
But investors also see a risk that lower taxes, less immigration and new trade barriers could keep pressure on inflation, making the US central bank more reluctant to cut interest rates.
Last week, the Federal Reserve offered little guidance about the months ahead, saying it was too early to tell what impact Trump’s policies might have.
Source link
#Tesla #crypto #prisons #Trump #trade #winners
Pelican News
View the full article at [Hidden Content]
EA CEO Andrew Wilson reportedly being considered for top Disney job
EA CEO Andrew Wilson reportedly being considered for top Disney job
Disney is reportedly considering Electronic Arts CEO Andrew Wilson as a successor to current boss Bob Iger.
That’s according to the Wall Street Journal’s sources, who claim that ***********-born Wilson is currently one of three external candidates in the frame for the job.
Internal candidates being considered for the role reportedly include Disney Entertainment co-chairs Dana Walden and Alan Bergman, ESPN chairman Jimmy Pitaro, and Disney Experiences chairman Josh D’Amaro.
Iger, who is in his second spell as Disney CEO, is due to step down when his contract expires in 2026.
Wilson joined EA in 2000 and has served as its chairman and CEO since 2013.
“Prior to becoming CEO, Andrew served as executive vice president of EA Sports and Origin where he led the global EA Sports business, as well as EA’s digital PC service,” according to his profile on the company’s website.
“Previous to this, he led all aspects of EA’s online organization, including the company’s Asia business operations and direct-to-consumer services. Andrew also served as vice president and executive producer of all EA Sports FIFA games, growing the IP into one of the most popular video game franchises of all time.”
During his first spell in charge of Disney, Iger oversaw the acquisitions of Pixar, Marvel Entertainment, Lucasfilm and 21st Century Fox.
A Bloomberg report last October claimed Iger’s deputies were pushing him to consider acquiring a major game publisher like EA.
Senior executives wanted Iger to explore the possibility of transforming the company from a gaming licensee to a gaming giant with major first-party capabilities, it was claimed.
As well as working on various Star Wars titles, including Respawn’s Star Wars Jedi series, EA is making “several new games” based on Marvel properties, including Iron Man and ****** Panther titles.
Source link
#CEO #Andrew #Wilson #reportedly #considered #top #Disney #job
Pelican News
View the full article at [Hidden Content]
This Trump trade is an underappreciated opportunity, says Janus Henderson
This Trump trade is an underappreciated opportunity, says Janus Henderson
Financial and energy stocks have jumped since last week’s election, but there’s another area of opportunity that investors could be missing out on, according to Janus Henderson. The market has rallied since President-elect Donald Trump’ s victory, although it took a breather on Tuesday. Investors have been particularly focused on the so-called Trump trade , which includes financials, as well as oil and gas names. The S & P 500 financials sector moved nearly 8% higher over the past week, while energy stocks have gained nearly 5% during that time. However, financial stocks may have “gotten in a bit ahead of themselves,” said Jeremiah Buckley, a portfolio manager at Janus Henderson. Instead, he sees an opportunity in health-care stocks, which should also benefit from a Trump administration, he said in an interview on CNBC’s ” Squawk on the Street .” The sector is up just under 2% over the past week, and is the third-worst performing group in the S & P 500 year to date. “It has been a difficult regulatory environment for health care over the last four years, with price controls on pharmaceuticals, [and] regulations around Medicare and Medicaid,” Buckley explained. “Going forward, the administration could be a little more favorable for the overall industry — and that could be positive.” In addition, there is great research and development happening in health care right now, especially in health-care services, Buckley added. XHS YTD mountain SPDR S & P Health Care Services ETF “There is great innovation. We’ve obviously seen the benefits of GLP-1 s, which have driven substantial growth for pharmaceuticals and companies like Eli Lilly, ” he said. “We think there is additional innovation in ******* and across the board in diabetes, as well as medical devices.” He thinks that health-care services companies will also have improved profit margins over time as utilization trends normalize. Among the funds Buckley oversees at Janus Henderson is the U.S. Dividend Income Fund . UnitedHealth Group , AbbVie and Medtronic are among its top 10 holdings, as of Sept. 30. Gilead Sciences and Amgen also make up more than 2% each of the fund’s assets. Another fund Buckley oversees is the Growth and Income Fund, which includes many of the same health-care names and had 2.7% of its assets in Eli Lilly as of Sept. 30.
Source link
#Trump #trade #underappreciated #opportunity #Janus #Henderson
Pelican News
View the full article at [Hidden Content]
Why did Justin Welby resign after ****** scandal?
Why did Justin Welby resign after ****** scandal?
Getty Images
Justin Welby has resigned as Archbishop of Canterbury after facing increasing pressure to stand down over his ******** to report prolific child abuser John Smyth.
Here are the events that led up to Mr Welby’s resignation after 11 years in the post.
Why did Welby resign now?
A damning independent review published last week found Mr Welby – the most senior bishop within the ******* of England – and other ******* officers should have formally reported Smyth in 2013 to police in the *** and authorities in South *******.
Smyth was accused of attacking dozens of boys, including those he met at ********** camps, in the *** in the 1970s and 1980s.
The barrister and senior member of a ********** charity then moved to Zimbabwe and later South *******, where he abused up to 100 boys aged 13 to 17, the Makin review added.
By 2013, the ******* of England “knew, at the highest level” about Smyth’s ******, including Mr Welby who took up the *******’s top job that year.
If he and other ******* officers had reported this to police in the *** and authorities in South ******* at that time, “John Smyth could have [been] brought to justice at a much earlier point”, the independent report said.
Mr Welby had previously resisted calls to step aside over his response to the case since 2013.
But amid mounting pressure, he said in a statement on Tuesday he must take “personal and institutional responsibility”.
The prime minister’s spokeswoman said Keir Starmer “respects the decision” to step down and his thoughts “first and foremost, remain with all the victims”.
When did the ****** allegations first surface?
Smyth was under police investigation when he *****
Smyth’s ****** was first reported to the charity Iwerne Trust, where he had been chairman, in the early 1980s.
A report detailing his “horrific” beatings of teenaged boys was presented to some ******* leaders in 1982. But the recipients of that report “participated in an active cover-up” to prevent its findings, including that ******* had been committed, coming to light, the Makin review said.
Smyth’s ****** in the *** re-emerged in 2012, when a ******* officer in Cambridgeshire received a letter “out of the blue” from a fellow survivor.
The review stated that five police forces were told of the ****** between 2013 and 2016. ******* leaders however did not lodge a formal report.
It was not until 2017, after a Channel 4 documentary revealed details about Smyth’s ****** to the public, that police launched a full investigation.
Smyth is believed to have continued his ****** in South ******* until his ****** in 2018.
How much did Welby know about Smyth?
Mr Welby worked at summer camps in Dorset where Smyth met some of his victims, but the archbishop said he was unaware of the nature of the allegations until 2013.
A member of the clergy warned Mr Welby about Smyth in the 1980s, but the archbishop told the review this had been “vague” and “there was no indication given of the abuses which later came to light”.
After the Channel 4 documentary was broadcast in 2017, Mr Welby apologised “unreservedly” to Smyth’s victims but did not resign.
Following the Makin review this month, the archbishop said he had considered resigning over its findings and repeated his apology.
Mr Welby acknowledged that the review made clear he had “personally ******* to ensure it was energetically investigated”.
But on Tuesday, following a petition set up by members of the *******’s parliament – the General Synod – and mounting pressure to go, Mr Welby resigned.
What did his critics say?DIOCESE OF NEWCASTLE
Bishop Hartley said it was “hard to find the words” to respond to last week’s report
Critics included Bishop of Newcastle Helen-Ann Hartley, who said Mr Welby’s resignation would “be a very clear indication that a line has been drawn, and that we must move towards independence of safeguarding”.
A survivor of Smyth’s ****** also called for Mr Welby to go, saying that he felt the archbishop’s admission that he had not done enough in response to the reports meant that both he and the ******* of England had effectively been involved in a “cover-up”.
The petition calling for his resignation, which accused the archbishop of “allowing ****** to continue” and said his position was “no longer tenable”, was signed by more than 14,000 people.
The prime minister had also publicly said victims of Smyth had been “******* very, very badly,” but would not comment when asked whether the archbishop should quit.
Who will replace Welby and how are they chosen?
It is not known how long the archbishop will remain in post but the process of finding a replacement is likely to take at least six months.
A consultation, which is expected to last several months, will ask people in and outside the ******* of England what they want from the next archbishop.
The information will help form the basis of a longlist of suitable candidates.
While candidates cannot apply for the role, those chosen to be interviewed do not have to be from the ******* of England and they do not have to be bishops, although they are likely to be.
The candidates will then be interviewed by a committee, with a chair appointed by the prime minister.
Members will include representatives from around the global Anglican Communion, the General Synod, as well as at least one bishop.
At least two-thirds of the committee members must agree before a decision is made.
The Archbishop of Canterbury is also the spiritual leader of the worldwide Anglican community.
Source link
#Justin #Welby #resign #****** #scandal
Pelican News
View the full article at [Hidden Content]
Rumored ****** Ops 6 Bug That Lets You Equip AK-74 as Melee ******* is a Godsend
Rumored ****** Ops 6 Bug That Lets You Equip AK-74 as Melee ******* is a Godsend
Call of Duty: ****** Ops 6 has just been released. After completing the Modern Warfare trilogy, Activision is now looking to revive its ****** Ops series. The last game in the series, ****** Ops Cold War, didn’t get a favorable reception from the fans, which is why all the honors lay on the shoulders of the recently launched title.
Call of Duty: ****** Ops 6 is released on October 25, 2024. | Credit: Activision.
However, things are not going very well for BO6, as the game is heavily criticized for the new movement mechanics and launch maps. The game’s TTK/TTD is also terribly inconsistent. Along with all of these, now new bug has appeared in the game. Surprisingly, fans like this bug a lot.
You Can Equip an AK-74 As Your Melee ******* in Call of Duty: ****** Ops 6
An AK-74 has been fitted into the melee section of the loadout. | Credit: Activision.
Recently a dedicated fan has shared a screenshot of his multiplayer loadout in Call of Duty: ****** Ops 6. Everything was pretty good as the AK-74 was the primary ******* and the 9mm PM was the secondary *******. ***** was let loose when our eyes focused on the melee slot as it was occupied by another AK-74.
Generally, that particular slot is for melee weapons like knives and baseball bats. But there is a weird bug for which the AK-74 rifle can be clubbed in the melee section. The whole BO6 community is going crazy seeing this crazy bug.
This fan has a witty line to sum up the situation.
Another fan has brought up a legendary statement from none other than Captain Price.
This can be an exciting way to use the AK-74 as a melee *******.
Now this fan has come up with another similar glitch, but 180 degrees different than the AK-74 one.
This fan managed to equip a Grekhova in his melee slot.
Things have gone to the next level because you can actually use this setup to play in a real match. Yes, you can have two AK-74s at the same time in your loadout.
Just imagine, you are empty on bullets in both primary and secondary weapons, and the ****** is approaching you, seeing a free *****, and *****! You holster your trump card, a freaking AK as a melee *******.
Although we hoped it would be ******* the “melee *******” with a single hand (because that’s how you use a melee *******). The fan’s loadout might be buggy, but you can check out our guide for the best ******** rifle loadouts in ****** Ops 6.
Treyarch Has to Work on a Serious Issue in Call of Duty: ****** Ops 6
****** Ops 6 players are suffering from serious packet burst isses. | Credit: Activision.
The main problem with the game isn’t dull maps or overpowered weapons this time. Activision is being urged by a large number of fans to fix the Packet Burst error, which is basically the game’s term for Packet Loss, a network issue that results in significant lag, stuttering, and other in-game delays.
Data packets that are delayed, lost, or transmitted inconsistently between a player’s device and the game server are referred to as packet bursts or losses. This causes a noticeable lag, stutter, and delay while playing the game. It’s worse than having a high ping and is likely the worst problem a player can encounter when playing an online game.
With hits not registering and responses feeling strange, players characterize it as a never-ending struggle to keep up with real-time gameplay. In a fast-paced shooter like ****** Ops 6, where split-second decisions can mean the difference between life and ******, this instability is particularly troublesome.
Source link
#Rumored #****** #Ops #Bug #Lets #Equip #AK74 #Melee #******* #Godsend
Pelican News
View the full article at [Hidden Content]
PS5 Slim Price Drop Confirmed, $380 Until 24th December
PS5 Slim Price Drop Confirmed, $380 Until 24th December
Sony has announced by way of a new PS5 advert that the base PS5 Slim console will be available on ***** at $380 until 24th December 2024.
Source link
#PS5 #Slim #Price #Drop #Confirmed #24th #December
Pelican News
View the full article at [Hidden Content]
Driver ****** 35 in ramming ******* on crowd in China
Driver ****** 35 in ramming ******* on crowd in China
A driver has rammed his car into a crowd at a sports centre in southern China, ******** 35 people and severely injuring 43 in one of the deadliest attacks in contemporary ******** history.
******** authorities took almost 24 hours to officially disclose the incident, which took place on Monday night in Zhuhai, a city of about 2.5 million people in southern China near Macau.
Images and videos showing dozens of people knocked to the ground and a car fleeing from the scene, which circulated on China’s major social media platforms on Monday night, were swiftly censored.
****** comments about the official delay in reporting the incident were also removed, and the Weibo messaging site censored a hashtag that mentioned the ****** toll.
Police said the 62-year-old driver, with the surname Fan, had been captured and was hospitalised for wounds believed to have been self-inflicted with a ****** to the neck and other parts of his body.
Fan had been upset about the split of assets in his divorce settlement, police added.
Candles and flowers had been ***** at the scene on Tuesday evening.
About 30 people gathered around one of the gates of the sports centre, with delivery drivers on bikes stopping to add to about 20 bouquets ***** in a row.
Hundreds of rescue personnel from Zhuhai city and Guangdong province were deployed to provide emergency treatment and more than 300 healthcare workers from five hospitals worked around the clock to save lives, state media Beijing Daily reported.
The ******* happened as Zhuhai captured China’s attention with the People’s Liberation Army’s largest annual airshow, where a new stealth jet fighter is on display for the first time.
“I was driving nearby last night and heard sirens everywhere, I thought it was for the airshow but then I’ve never heard sirens so loud before,” a taxi driver surnamed Guo said.
“Then the passenger said there’d been a hit-and-run, I didn’t realise it was so bad.”
Others expressed shock.
“I don’t know what to say but I hope this kind of sickness does not spread,” a Weibo user wrote.
The ****** toll “makes every pore on my body stand on end,” said another.
There was no indication that the ******* was related to the airshow.
But it was the second such incident to occur during the Zhuhai airshow: in 2008, at least four people were ******* and 20 injured when a man drove a truck into a crowded schoolyard during the airshow.
Police said that attacker had been seeking revenge over a traffic dispute.
President Xi Jinping, cited by ******** state television CCTV, ordered all-out efforts to treat the injured and demanded severe punishment for the perpetrator.
The central government has dispatched a team to provide guidance on handling of the case, CCTV said.
Violent ****** is rare in China due to tight security and strict **** laws.
However, a rise in reports of ****** attacks in large cities has drawn public attention to safety in public spaces.
The deadliest ******* Reuters was able to identify in recent years in China took place in Urumqi, in China’s western Xinjiang region, in 2014 in which ******** ******** ******* 39 people and four of the five attackers also *****.
Source link
#Driver #****** #ramming #******* #crowd #China
Pelican News
View the full article at [Hidden Content]
This budget Roomba ****** vacuum is nearly half off ahead of ****** Friday
This budget Roomba ****** vacuum is nearly half off ahead of ****** Friday
The blackest of Fridays is nearly upon us and companies have already begun rolling out the deals to separate consumers from their bank accounts. Here’s one for a well-regarded and budget-friendly robovac. The iRobot Roomba Essential Vac , which is a discount of 44 percent. The regular price is $250.
The Essential Vac features a similar design to the iRobot Roomba 694, which topped our list of the . This one includes a three-stage cleaning system that works on both carpet and hard floors. It features the same smart navigation system as other iRoomba vacuums, so it’ll avoid stairs and work its way around items of furniture.
iRobot
Despite being a budget-friendly robovac, there are some modern flourishes. The vacuum will automatically return to the charging station when the battery runs low, which is always nice. It also integrates with the Roomba app for setting cleaning schedules and for building a custom map of the home.
The battery life sits at around two hours, which is a decent metric for the price. That should be more than enough time to thoroughly clean a medium-sized home. The major caveat here is that this is a budget robovac, so it doesn’t mop and it doesn’t ship with a large debris canister. Still, the price is right for those curious about eliminating sweeping from that to-do list.
Check out all of the latest ****** Friday and Cyber Monday deals here.
Source link
#budget #Roomba #****** #vacuum #ahead #****** #Friday
Pelican News
View the full article at [Hidden Content]
Man ****** Dozens in China Car Ramming *******
Man ****** Dozens in China Car Ramming *******
A man drove a vehicle into a crowd of people exercising at a sports center in Zhuhai, China, ******** at least 35 people, the police in China said.
Source link
#Man #****** #Dozens #China #Car #Ramming #*******
Pelican News
View the full article at [Hidden Content]
All Crops in Farming Simulator 25
All Crops in Farming Simulator 25
As with every new entry in the Farming Simulator franchise, this year’s launch, Farming Simulator 25, includes a rather large selection of new and returning crops that give virtual farmers a chance to sow their seed and make some money in a cutthroat industry. Of course, you won’t plant everything, at least not all at once, so knowing your options beforehand gives you time to plan your harvest for the foreseeable future. Here’s a look at all of the crops in Farming Simulator 25!
Every Crop Available to You in Farming Simulator 25
When you kick off your farming adventure in Farming Simulator 25, following along with the tutorial will teach you the basics of preparing fields, planting, and harvesting crops. You’ll start slow and simple with canola and wheat. But as you better grasp the gameplay mechanics, you’ll expand your harvest to include potatoes, sugarcane, beans, and so much more! It’s a lot to learn, especially for newcomers to the series.
Farming Simulator 25 Crops
Wheat
Barley
Canola
Oat
Sorghum
Corn
Sunflowers
Soybeans
Potatoes
Sugar Beet
Sugarcane
Cotton
Grapes
Olives
Grass
Red Beet
Carrots
Parsnips
Green Beans
Peas
Spinach
Long Grain Rice
Rice
Related: Can You Play Farming Simulator 25 on Game Pass?
Alongside these crops, you can also plant, grow, and harvest Grass, Hay, and Straw. You’ll find uses for everything in the game, as nothing goes to waste here. Every crop and item in the game serves a purpose: improving crop yield, feeding livestock, selling wholesale, or being a component in one of the many production chains.
What’s your favorite crop in Farming Simulator? I think I’ll specialize in my first playthrough and focus on rice. Let us know your thoughts on the game in the comments below, or visit the community forum to discuss farming games in general!
If you’re just jumping into the game today, you may want to know what’s new in Farming Simulator 25. We have a handy guide for that and more to come!
Subscribe to our newsletter to receive the latest news and exclusive leaks every week! No Spam.
Source link
#Crops #Farming #Simulator
Pelican News
View the full article at [Hidden Content]
Local and foreign chip manufacturers expand their presence in Vietnam — companies move to Southeast Asia as tensions simmer between China and the U.S.
Local and foreign chip manufacturers expand their presence in Vietnam — companies move to Southeast Asia as tensions simmer between China and the U.S.
According to Reuters, Hana Micron, a South Korean firm specializing in assembly, testing, and packaging (ATP) of semiconductors, is expanding its presence in Vietnam after some of its customers requested the company move production away from China. Because of this, the company is investing 1.3 trillion South Korean Won (approximately $923.5 million) for the next couple of years to boost its packaging output of legacy memory chips.
The primary chip packaging companies—Amkor Technology, Hana Micron, and Intel—have poured billions of dollars into Vietnam to increase their back-end manufacturing capacity. Beijing and Washington trade words and sanctions over global and regional strategic goals, including a race in semiconductor manufacturing and AI technologies.
In addition, U.S. firm Amkor Technology is spending $1.6 billion building a million-square-foot campus—the company’s most extensive and advanced facility—that will deliver “next-generation semiconductor packaging capabilities.” One source familiar with the matter even said that some of the equipment the company will install in the new factory comes from some of its factories in China. However, the company hasn’t officially confirmed this. Aside from them, Intel’s largest back-end facility is also located in Vietnam.
The country expects to receive over $2.5 billion in investments between these three companies, and the U.S. plans to invest some of its CHIPS Acts funds into its former adversary. Even local companies are getting in on the semiconductor action, with FPT, one of the largest Vietnamese IT companies, building a 1,000-square-meter, $30-million testing factory with ten testing machines to operate in 2025.
In addition to these ongoing projects, two other Vietnamese firms plan to enter chip manufacturing. Sovico Group, a Vietnamese investment firm, is searching for international partners to build an ATP facility in Danang. At the same time, Viettel, a state-owned corporation, wants to establish the country’s first foundry by 2030.
Back-end manufacturing is the assembly and packaging of chips, including wafer cutting, **** attachment, interconnection, encapsulation, and testing. Although it is far from the cutting-edge and glamorous world of front-end manufacturing, with its ever-shrinking process node, back-end processes are still a crucial part of chip manufacturing, turning a wafer from a lithography machine into an entirely usable product.
Vietnam reportedly owned just 1% of the global ATP market a couple of years ago; however, massive foreign investment in its semiconductor industry means it expects to have an 8% to 9% market share by 2032. Furthermore, tech giants like Nvidia and Apple are eyeing the country as a future location for their manufacturing capabilities, adding to Intel’s existing presence. Hanoi also aims to have at least six fabs by 2050, making the country a major chip maker.
Get Tom’s Hardware’s best news and in-depth reviews, straight to your inbox.
As tensions between China and the U.S. continue, companies looking for cheap labor and a more stable political climate leave China, Taiwan, and South Korea. With Vietnam’s investment in its semiconductor industry, it seems poised to receive this influx of chip manufacturers.
Source link
#Local #foreign #chip #manufacturers #expand #presence #Vietnam #companies #move #Southeast #Asia #tensions #simmer #China #U.S
Pelican News
View the full article at [Hidden Content]
Florida Gov. Ron DeSantis to decide U.S. Senate replacement if Marco Rubio joins Trump’s Cabinet
Florida Gov. Ron DeSantis to decide U.S. Senate replacement if Marco Rubio joins Trump’s Cabinet
Trump expected to name Marco Rubio for secretary of state
Trump expected to name Marco Rubio for secretary of state
00:51
MIAMI – If President-elect Donald Trump selects Florida Sen. Marco Rubio as Secretary of State, Gov. Ron DeSantis would gain the power to appoint Rubio’s temporary Senate replacement.
Rubio, who was re-elected to his six-year term in 2022, would vacate a seat that doesn’t end until 2028.
The appointed replacement would serve until a 2026 special election to complete the final two years of Rubio’s term — meaning the appointee would have to win again in 2028 to secure a full term.
CBS News Miami’s Jim DeFede, citing conversations with multiple *********** sources, reports that several scenarios are being discussed for how DeSantis may proceed:
Appointing chief of staff James Uthmeier
Uthmeier, who serves as DeSantis’s chief of staff and was campaign manager for his presidential campaign, could act as a caretaker in the Senate role until 2026. This move would give DeSantis the option to run for the Senate seat himself in the 2026 special election, aligning with the end of his gubernatorial term.
Appointing Lt. Governor Jeanette Nunez
Nunez, a Cuban-********* from Miami, has been a loyal ally to DeSantis. Her appointment could provide continuity for Cuban-********* representation, replacing Rubio, who shares the same background.
DeSantis takes the Senate seat
DeSantis could work with Nunez to resign as governor, allowing her to ascend to the governorship and appoint him directly to the Senate seat, bypassing the need to wait until 2026.
Other potential contenders for DeSantis’s appointment include Attorney General Ashley Moody and former Florida House Speaker Jose Oliva, who is also a Cuban-********* from Miami.
There’s also speculation that DeSantis could appoint his wife, Casey DeSantis to the seat. Casey DeSantis has long been involved in state government and she enjoys wide popularity across the state.
With several *********** leaders in the mix, DeSantis’s decision could reshape Florida’s political landscape, especially if he eyes the Senate seat himself as part of a longer-term strategy.
More
CBS Miami Team
The CBS Miami team is a group of experienced journalists who bring you the content on CBSMiami.com.
Source link
#Florida #Gov #Ron #DeSantis #decide #U.S #Senate #replacement #Marco #Rubio #joins #Trumps #Cabinet
Pelican News
View the full article at [Hidden Content]
Boeing factory production will take weeks to ramp up after strike
Boeing factory production will take weeks to ramp up after strike
An employee works in the cockpit of a Boeing P-8 Poseidon maritime patrol aircraft on the production line at Boeing’s 737 factory in Renton, Washington, November 18, 2021.
Jason Redmond | Reuters
Boeing’s more than 32,000 machinists who were on strike are required to return to their factories no later than Tuesday, but getting factories humming again will take weeks, the manufacturer said.
Boeing machinists approved a new contract last week that included 38% pay raises over four years and other improvements, ending a more than seven-week strike that halted output of most of Boeing’s aircraft production. They first walked off the job on Sept. 13, turning down a proposal with 25% raises.
The company said Tuesday that it handed over 14 jetliners in October, the fewest since November 2020, during the depths of the pandemic and the tail end of the worldwide grounding of Boeing’s 737 Max in the wake of two fatal crashes. Nine of the deliveries last month were 737 Maxes. A spokesman said workers unaffected by the strike performed the delivery procedures.
Boeing’s troubles have put it further behind Airbus this year. The U.S. manufacturer handed over 305 airplanes so far this year compared with its ********* rival’s 559 aircraft.
As the workers return, Boeing has to assess potential hazards, restate machinist duties and safety requirements, and ensure that all training qualifications are current, a spokesman said.
“It’s much ******* to turn this on than it is to turn it off,” CEO Kelly Ortberg said during the company’s quarterly call last month. “So it’s absolutely critical that we do this right.”
The company is resuming production in Washington state and Oregon for the 737 Max, 767 and 777 programs, as well as military versions of its aircraft. Boeing’s 787 Dreamliner production continued during the strike because those planes are made in a nonunion factory in South Carolina.
Despite the strike pause, Boeing continued to sell dozens of aircraft in October, with 63 ****** orders, two shy of September’s total. Forty of them are 737 Max 8s for the Avia Solutions Group. It also handed over 10 787 Dreamliners to LATAM Airlines.
Don’t miss these insights from CNBC PRO
Source link
#Boeing #factory #production #weeks #ramp #strike
Pelican News
View the full article at [Hidden Content]
Sony is ending adaptor that makes PS VR work on PS5
Sony is ending adaptor that makes PS VR work on PS5
Sony Interactive Entertainment has confirmed that it will soon stop supplying a PlayStation 5 adaptor that allows the original PlayStation VR headset to work on the console.
In order for PS5 owners to get the original PS VR headset to work on the console, they need to request a free adaptor for the PlayStation Camera, which is the only method of support, since PS5’s HD camera does not support the old headset.
As per SIE’s support website, as of November 26, 2024, or “until supplies last”, the PlayStation Camera adaptor will no longer be available.
The newer, PlayStation VR 2 headset for PlayStation 5 is not backwards compatible with PS4’s original PlayStation VR games, so once the PS Camera adaptor is no longer available, there will be no official option to play these games on PS5.
This summer, the PlayStation VR 2 received a significant price cut, its biggest ever, ahead of the release of PC compatibility with the device. A PC adaptor was released in August for $59.99 / €59.99 / £49.99 at select retailers and direct.playstation.com.
PS5 VR features like HDR, headset feedback, eye tracking, adaptive triggers, and haptic feedback (other than rumble) are not available when playing on PC.
Last year, Sony Interactive Entertainment’s senior vice president and head of global marketing, Eric Lempel, described VR as a meaningful business for the company, but one that was yet to reach its potential.
Source link
#Sony #adaptor #work #PS5
Pelican News
View the full article at [Hidden Content]
Researchers develop Python code that is compatible with in-memory computing — Python commands converted into machine code to be ********* in the computer’s memory
Researchers develop Python code that is compatible with in-memory computing — Python commands converted into machine code to be ********* in the computer’s memory
In-memory computing has been in development for a while; however, software has yet to be released or compatible with this computing architecture. Techxplore reports that Technion researchers have developed software that works with processing in memory designs, specifically with Python code.
The researchers purportedly developed a theory for building a programming language with in-memory computing in mind. The software they created converts Python commands into machine code ********* directly in the computer’s memory.
This new computer language is dubbed PyPIM (Python Processing-in-Memory). Just like API conversion layers such as DXVK (DirectX to Vulkan), PyPIM is a conversion layer that converts conventional Python code into code that can run on this new type of computing method. As a result, Python programmers can write the same way they write for conventional computers and don’t need to adapt their writing style for in-memory computing.
Techxplore reveals that software is one of the crucial aspects of in-memory computer processing that has remained utterly unexplored until now. Compute code written for conventional computers has purportedly “barely changed” since the 1940s. Professor Shahar Kvatinsky from the Andrew and Erna Viterbi Faculty of Electrical and Computer Engineering reveals that writing code for in-memory computing is so radically different from conventional computing that “…some of the existing building blocks of computer science unusable…”
Without a conversion layer such as PyPIM, developing applications compatible with processor-in-memory support would have been very difficult. The low-level machine code would need to be rewritten to accommodate processing some calculations in memory and the rest on the CPU.
In-memory computing is a new way of computing that aims to solve the memory latency problem. As the name suggests, in-memory computing enables the system memory to do some calculations the CPU would do otherwise, cutting down the amount of data that must be transferred between the CPU and DRAM.
Samsung and TSMC are actively working on memory capable of doing this, featuring MRAM memory cells. In-memory computing is still in the prototype phase, but progress is being made on the hardware side to make it a viable technology. With the help of conversion layers like PyPIM, software should be developed to support this computing method.
Get Tom’s Hardware’s best news and in-depth reviews, straight to your inbox.
Source link
#Researchers #develop #Python #code #compatible #inmemory #computing #Python #commands #converted #machine #code #********* #computers #memory
Pelican News
View the full article at [Hidden Content]
Sephora says it did not donate to Trump campaign, after online calls for boycott
Sephora says it did not donate to Trump campaign, after online calls for boycott
Beauty retailer Sephora has said it did not make large donations to President-elect Donald Trump‘s campaign, after viral social media posts called for a boycott of the company and other popular retail outlets over alleged donations.
In a statement, a spokesman for Sephora told CBS News it was aware of “incorrect information circulating on social media,” and said Sephora “does not make corporate donations to political candidates. Sephora’s mission is to create a welcoming beauty shopping experience for all.”
Calls for a boycott grew after viral social media posts, including one TikTok video with over 11 million views, alleging Sephora and other retailers donated to Trump. The video ended with the line, “I hope we all understand the assignment for this Christmas season.”
The individual who posted the video did not respond to a request for comment.
Laws governing company donations
The Federal Election Campaign Act prohibits corporations from using general funds from making direct contributions to candidates in federal elections.
However, corporations may set up political action committees (PACs) funded by voluntary employee contributions. Or companies can make unlimited contributions to Super PACs which indirectly support candidates through advertising and advocacy.
Executives and other corporate employees may contribute as individuals to candidates, and information about donations once a donor contributes more than $200 are publicly available, according to Brendan Glavin, Deputy Research Director of Open Secrets, a campaign finance watchdog group.
“When you see those boycott lists, what you may be seeing is an aggregation of all the money that employees of the organization gave to the candidate,” said Glavin.
Campaign finance records indicate that individuals associated with Sephora’s parent company LVMH, a France-based company with ********* divisions, donated $318 to Trump’s campaign during the 2024 election cycle, according to Open Secrets. By comparison, they donated a total of over $35,000 to Harris’ campaign. Foreign nationals are barred from contributing to federal elections, and only LVMH employees who are U.S. citizens or permanent legal residents can legally donate.
Open Secrets analysis also shows LVMH did not contribute to any campaigns through PACs in 2024. The U.S. subsidiaries of foreign-based companies can legally form PACs funded by ********* employees or direct contributions to Super PACs as long as no foreign nationals direct the contribution.
Sephora’s Americas divisions’ former chief executive, Jean-Andre Rougeot, donated exclusively to Democratic campaigns, FEC records show, and its current CEO, who took her position in April 2024, has not made political donations.
Home Depot, Kohl’s and other companies deny donations
Other companies, including Kohl’s and Home Depot, also refuted social media claims of Trump campaign contributions after calls for boycotts.
A spokesman for Kohl’s told CBS News, “Kohl’s does not make monetary contributions to political candidates or campaigns, does not support political organizations, and does not have a company-sponsored Political Action Committee.”
FEC records show no political donations from Kohl’s CEO Tom Kingsbury this cycle. And overall, employees and individuals associated with Kohl’s contributed more to Harris’ presidential campaign than to Trump’s, records indicate.
A spokesman for Home Depot told CBS News, “The Home Depot (and The Home Depot Foundation) does not give money to presidential campaigns or endorse presidential candidates.”
According to FEC filings and analysis by Open Secrets, the company and its affiliated PAC made no direct donations to Trump’s campaign, However, Home Depot’s corporate PAC donated $270,000 to both the National *********** Senatorial and Congressional Committees.
Overall, employees and associates of Home Depot acting individually gave more to Harris’ campaign than to Trump’s, with Harris receiving $197,312 to Trump’s $115,858, according to Open Secrets.
More from CBS News
Laura Doan
Laura Doan is a fact checker for CBS News Confirmed. She covers misinformation, AI and social media.
Source link
#Sephora #donate #Trump #campaign #online #calls #boycott
Pelican News
View the full article at [Hidden Content]
Shopify (SHOP) earnings Q3 2024
Shopify (SHOP) earnings Q3 2024
Shopify shares popped more than 25% in Tuesday morning trading after the ********* e-commerce company posted better-than-expected revenue for the third quarter and gave an optimistic forecast for the holiday shopping season.
Here’s how the company did:
Earnings: 64 cents per share. That may not compare with LSEG estimates.Revenue: $2.16 billion vs. $2.12 billion expected by LSEG
Shopify said it expects revenue in the current quarter to grow at at a percentage in the mid- to high-twenties. That surpassed Wall Street’s expectations of 22.8% for revenue growth, according to FactSet.
****** merchandise volume, or the total volume of merchandise sold on the platform, increased 24% year over year to $69.7 billion during the third quarter. Analysts surveyed by FactSet were looking for GMV of $68.1 billion.
Shopify sells software for merchants who run online businesses as well as services such as advertising and payment processing tools. The company has been investing heavily in marketing in recent months, even at the risk of pinching near-term profits, as it looks to gain further market share. The company competes with e-commerce juggernauts Amazon and Walmart, as well as software providers like Salesforce and BigCommerce.
On a call with investors, Shopify president Harley Finkelstein said a growing number of major retailers and companies signed up for its services during the quarter, pointing to Lionsgate Entertainment, shoemaker Reebok and luxury fashion brand Off-White, along with handbag company Vera Bradley and Hanes.
“Shopify is increasingly the go-to platform of choice, not just for entrepreneurship, but for all of commerce,” Finkelstein said. “We are well positioned for extensive growth across different merchant segments, size, geographies, channels and products.”
Jeff Hoffmeister, Shopify’s CFO, said on the call that the upbeat fourth-quarter forecast is “driven by the same factors that have supported our strong revenue growth results so far this year,” including “assumptions around the continued strength of our merchants GMV.”
Shopify shares are up about 45% year to date. The Nasdaq has gained roughly 37% over the same stretch.
Source link
#Shopify #SHOP #earnings
Pelican News
View the full article at [Hidden Content]
Biden meets with *******’s Herzog as U.S. presses ******* for more aid to Gaza
Biden meets with *******’s Herzog as U.S. presses ******* for more aid to Gaza
Biden meeting with ******** President Herzog
Biden meeting with ******** President Herzog as concerns continue over Gaza aid
05:03
President Biden is meeting with ******** President Isaac Herzog at the White House Tuesday, as the two leaders discuss the conflict with Lebanon, the humanitarian situation in Gaza and the hostages still held by ******.
The meeting is only on the schedule for an hour, ahead of a scheduled lunch with Vice President Kamala Harris. The president will also be meeting with Indonesian President Prabowo Subianto Tuesday afternoon.
The Biden administration is hoping to further peace goals before President-elect Donald Trump is inaugurated. ******** Prime Minister Benjamin Netanyahu says he’s spoken multiple times in the last week with Trump.
Mr. Biden welcomed Herzog to the Oval Office, declining to take questions from reporters. Herzog brought Mr. Biden a gift, an artifact from the foot of Temple Mount in Jerusalem.
Herzog lamented the ****** of two Israelis who were ******* in the ******** city of Nahariya by rockets fired from Lebanon and described Iran as an “evil empire.”
“First and foremost we have to get the hostages back,” Herzog said.
President Joe Biden shakes hands with *******’s President Isaac Herzog, left, during a meeting in the Oval Office of the White House in Washington, Tuesday, Nov. 12, 2024.
Ben Curtis / AP
*******’s government must meet a deadline Wednesday to boost aid to Gaza or face consequences. In October, the Biden administration warned ******* it must significantly increase the amount of aid reaching Gaza’s population, or it would face restrictions on U.S. military support. The ultimatum was detailed in a letter to Netanyahu.
Kathryn Watson
Kathryn Watson is a politics reporter for CBS News Digital, based in Washington, D.C.
Source link
#Biden #meets #Israels #Herzog #U.S #presses #******* #aid #Gaza
Pelican News
View the full article at [Hidden Content]
Silence falls for Armistice Day commemorations
Silence falls for Armistice Day commemorations
Those who ***** in two world wars and other conflicts have been remembered on Armistice Day, in the *** and internationally.
Sir Keir Starmer was in France, the first British leader to attend the annual ceremony on the Champs-Élysées in Paris since Winston Churchill in 1944.
The commemorations came 24 hours after Remembrance Sunday, when King Charles, Prince William, veterans and politicians paid their respects at the Cenotaph in central London.
Source link
#Silence #falls #Armistice #Day #commemorations
Pelican News
View the full article at [Hidden Content]
Meta cuts the price of its ad-free plan by 40 percent in a bid to sate EU regulators
Meta cuts the price of its ad-free plan by 40 percent in a bid to sate EU regulators
Meta has long been at loggerheads with ********* Union officials over its approach to targeted Facebook and Instagram ads. The company is hoping to placate regulators with to its ad model in the bloc, which includes lowering the price of its . Starting November 13, the plan will cost 40 percent less — €6 ($6.36) per month for signups via the web and €8 ($8.48) for those who subscribe on an iOS or Android device. The fee for each additional Facebook and Instagram account is €4 per month on the web and €5 via mobile.
The company will automatically drop current subscribers down to the lower pricing. It says that it will once again ask users in the bloc if they’d like to sign up.
When they see this prompt (which can only be ignored for a certain ******* of time), there will be a third option for EU Facebook and Instagram users to choose from. Those who don’t want to pay for a subscription can instead opt to only view ads that are based on what they see in a given session in the apps. Meta will also factor in a few key data markers such as “a person’s age, location, gender and how a person engages with ads.”
These less-personalized ads naturally won’t be as tailored to a given user’s interests, the company notes. As such, people are perhaps less likely to click on such ads. To make up for that (and make sure this option doesn’t hit Meta in the pocket too hard), folks who choose the less-personalized ads option will sometimes encounter unskippable ads. According to , these will be displayed full screen.
“Such ad breaks are common across other services, and are already offered by many of our competitors,” Meta argues. “This change will help us continue to provide value to advertisers which ensures we can offer people a less personalized ads experience at no charge.”
Targeted ads are Meta’s biggest revenue driver, but EU officials have reportedly been pressuring the company to offer a free, less-personalized option in its apps. Meta has argued that would negatively impact its bottom line. Although it has seemingly caved to officials’ requests, the unskippable ad aspect may be construed as malicious compliance, as it worsens the user experience.
Meta claims that these changes to its ad model “meet EU regulator demands and go beyond what’s required” by the bloc’s laws. The company introduced its ad-free subscription a year ago to comply with laws such as the Digital Markets Act (DMA), as well as stricter interpretations of the General Data Protection Regulation. It was previously ordered to from users in the bloc before showing them personalized ads.
The EU didn’t take too kindly to the paid ad-free approach, however. An investigation into the “consent or pay” model is ongoing. In July, the EU said that in its preliminary findings, Meta was with this plan.
These latest changes are said to be Meta’s attempt to settle the case, but according to the Journal, the EU’s discussions with the company haven’t concluded. The bloc’s regulatory body has until late March to finish its investigation and make a final decision. If it determines that Meta has indeed violated the DMA, the company could be on the ***** for a fine of up to 10 percent of its annual global revenue. Based on its total revenue for 2023, it could have to pay up as much as $13 billion or so.
If you buy something through a link in this article, we may earn commission.
Source link
#Meta #cuts #price #adfree #plan #percent #bid #sate #regulators
Pelican News
View the full article at [Hidden Content]
SpaceX targets Starship flight next week – just a month after last one
SpaceX targets Starship flight next week – just a month after last one
Starship during a high-altitude test flight
SpaceX
SpaceX is making preparations for the sixth test flight of the world’s most powerful rocket, Starship. The company has been taking a “fail fast, learn fast” approach to research and development more akin to the world of Silicon Valley than the aerospace industry, and the pace of launches only appears to be speeding up.
When is the next flight?
SpaceX says on its website that it aims to conduct the sixth test flight of Starship as early as 18 November. This claim is backed up by the Federal Aviation Administration having issued a NOTAM (Notice to Airmen) warning of a rocket launch in the area of SpaceX’s launch pads in Boca Chica, Texas. The 30-minute launch window will open at 4pm local time (10pm GMT).
It took SpaceX 18 months to carry out the first five Starship test flights, with the fifth taking place in the middle of October. If the company carries out the sixth next week, it will mean a gap of just over one month since the last flight – its fastest turnaround yet.
What will SpaceX attempt in flight 6?
In many ways, flight 6 will be a repeat of flight 5, but with a few key differences.
The booster stage will again attempt a “chopstick” landing, in which the craft is grabbed and secured as it returns to the launchpad, allowing it to be lowered to the ground. This approach is designed to eventually allow the booster to be re-used multiple times and massively reduce the cost of putting payloads into orbit.
The upper stage will reach space, carry out a partial orbit and then re-enter Earth’s atmosphere for a splash landing in the Indian Ocean. But this time, the upper stage will attempt to reignite one of its Raptor engines while in space in order to collect valuable operational data. It will also test new heat shield designs during re-entry.
Another difference is that the launch will take place later in the day so that the landing of the upper stage in the Indian Ocean can be filmed in daylight, ensuring greater detail. Previous missions have seen night landings and therefore footage – while cinematic and dramatic – hasn’t given engineers as much insight as video of a daytime landing will.
What happened during previous Starship launches?
Test flight 1 on 20 April 2023 saw three of the booster stage’s 33 engines fail to ignite. The rocket later span out of control and self-destructed.
The second test flight on 18 November 2023 got further, gaining enough altitude that the booster and upper stages separated as planned. The booster stage ultimately exploded before reaching ground level and the upper stage self-destructed, although not before successfully reaching space.
Test flight 3 on 14 March 2024 was at least a partial success, as the upper stage reached space once more, but it ******* to return to ground level intact.
The next flight, on 6 June, saw the upper stage reach an altitude of more than 200 kilometres and travel at over 27,000 kilometres per hour. Both the booster and the upper stage completed soft splashdowns in the ocean.
Test flight 5 was the most ambitious to date, with Starship’s Super Heavy booster dropping back to the launch pad and being safely caught by SpaceX’s launch tower, called Mechazilla, in a pair of “chopsticks”. It is equipped with a pair of “chopsticks” to grab the craft at a specific point and secure it, allowing it to be lowered to the ground.
Topics:
Source link
#SpaceX #targets #Starship #flight #week #month
Pelican News
View the full article at [Hidden Content]
The climate startup challenging Tesla on electrifying big rigs
The climate startup challenging Tesla on electrifying big rigs
On the road to electrifying vehicles, cars and small trucks are getting there. Big rigs, however, pose ******* hurdles.
The trouble with electrifying tractor-trailer trucks is that the tractor component needs more power than the current charging infrastructure can handle and the necessary charging time is long.
Major truck manufacturers like Volvo, Freightliner and Tesla are introducing electric tractor-trailer trucks, but that is still a tiny and inefficient market. Big rigs make up just 10% of the vehicles on the road, but they account for nearly 30% of total vehicle carbon emissions.
Now one startup, California-based Range Energy, is focused not on the tractor but the trailer. They are introducing electrified trailers that power and propel themselves so the tractor has less to pull.
“Everything that is built into the tractor is really built to manage the load of the trailer properly, and what we’re saying is, ‘Well, why don’t we do that directly through our Range system by electrifying the trailer in a way that has never been done before?'” said Ali Javidan, CEO of Range Energy.
The Range Energy system incorporates batteries, a motor that powers one of the trailer’s dual axles and what Javidan refers to as a ‘smart kingpin’ to improve the truck’s efficiency.
“When I push this button to activate the system, the trailer follows me,” Javidan said as he demonstrated the system. “It doesn’t matter if I’m an old Peterbilt semi-truck or a brand new Tesla semi or just me pulling on it with the system activated. The trailer’s mission is to make itself feel weightless.”
The electrified trailer can also refrigerate itself as well as power onboard communications and security systems. It does all of that at a fraction of the cost of diesel.
“If we were to take one of these fleets that runs 3,000 trailers and run it through the range system and essentially incorporate the range system into their fleet, we’re looking at 100 million pounds of CO2 saved per year,” Javidan said. “But even better than that, it equates to about $50 million in fuel savings alone.”
Northern Refrigerated Transportation is piloting the Range trailers in California. The company has previously tried electric tractors but the long charging times were a hurdle, said Ricky Souza, COO at Northern Refrigerated Transportation.
Range Energy’s “trailers seem more of a natural fit because we have to load them, and we load them at night” while the trailers charge, Souza said. “So it’s not more dependent on a driver waiting for it.”
There are, however, some major roadblocks that Northern Refrigerated Transportation must overcome before the company can electrify its entire fleet of more than 300 trucks.
“There’s definitely some infrastructure challenges, like power to the buildings or properties and getting it, and the cost of the unit is more,” Souza said. “That’s part of doing the due diligence to see if you’ll make it back into fuel savings.”
Range Energy has raised $31.5 million so far, and it is backed by R7, UP.Partners, Trousdale Ventures and Yamaha Motor Ventures.
The appeal of Range Energy’s technology is the startup’s different approach to tackling the challenge of electrifying tractor-trailers, said Tyler Engh, R7’s founder and general manager.
“Seventy percent of all freight in the ******* States is done by trucks, and there’s no one touching a trailer, so if we can electrify the trailer, we could accelerate mass adoption for hybridization or electrification on current fleets that have diesel semis,” Engh said. “The size of what this company could become is exactly what venture capital is set up to do. It could be a humongous return for us.”
As in the EV market for cars, charging infrastructure is still not where it needs to be, but Javidan says trucking companies can leverage the power that’s available at loading docks, as Northern Refrigerated Transportation is doing. Javidan added that Range Energy is able to size the battery pack much closer to what you see in a passenger vehicle than what you see in the large commercial vehicles that are coming out from other big rig companies.
CNBC producer Lisa Rizzolo contributed to this piece.
Source link
#climate #startup #challenging #Tesla #electrifying #big #rigs
Pelican News
View the full article at [Hidden Content]
23andMe (ME) Q2 2025 earnings report
23andMe (ME) Q2 2025 earnings report
Signage at 23andMe headquarters in Sunnyvale, California, U.S., on Wednesday, Jan. 27, 2021.
David Paul Morris | Bloomberg | Getty Images
23andMe on Tuesday reported declining revenue in its most recent quarter, a day after the company said it will cut 40% of its workforce and shutter its therapeutics business as part of a business restructuring plan.
The genetics company reported $44.1 million in revenue for the fiscal second quarter, down from $50 million in the same ******* last year. 23andMe’s net loss narrowed to $59.1 million, or a $2.32 per share, from $75.27 million, or $3.17 per share, a year ago.
The embattled genetic testing provider said on Monday that it’s eliminating more than 200 jobs, discontinuing all of its therapeutics programs and winding down its ongoing clinical trials “as quickly as practical.” It’s evaluating strategic options like asset sales and licensing agreements to “maximize the value” of the therapeutic programs, the release said.
“We are taking these difficult but necessary actions as we restructure 23andMe and focus on the long-term success of our core consumer business and research partnerships,” 23andMe CEO Anne Wojcicki, said in the release Monday. “I want to thank our team for their hard work and dedication to our mission. We are fully committed to supporting the employees impacted by this transition.”
The company said on Tuesday that it’s looking to potentially raise additional capital.
Shares of 23andMe were down slightly on Tuesday. They’ve slumped 75% this year after losing more than half their value in 2023, pushing the company’s market cap toward $100 million.
Wojcicki, who co-founded 23andMe in 2006, has been working to keep the company afloat after it faced the risk of being delisted from the Nasdaq. Shares were hovering below $1 until 23andMe announced a 1-for-20 reverse stock split in October.
In September, all seven of the company’s independent directors abruptly resigned from the board, writing in a letter that they disagreed with Wojcicki about the “strategic direction for the company.” Three new independent directors were appointed to the board late last month.
“We have fulfilled our obligations as a public company and regained compliance with the NASDAQ listing standards by reconstituting our board and executing a reverse stock split,” Wojcicki said during 23andMe’s earnings call on Tuesday.
Wojcicki has repeatedly stated her intention to take 23andMe private, though she didn’t address the plans on Tuesday. In a September filing with the SEC, she said she would not consider third-party takeover proposals, and said the “best path forward” is for her to take the company private.
23andMe declined to comment.
WATCH: The rise and fall of 23andMe
Source link
#23andMe #earnings #report
Pelican News
View the full article at [Hidden Content]
Privacy Notice: We utilize cookies to optimize your browsing experience and analyze website traffic. By consenting, you acknowledge and agree to our Cookie Policy, ensuring your privacy preferences are respected.