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Category: Economy (Page 3 of 7)

US federal government approves largest-ever offshores wind project, expected to generate around 1,100 megawatts of clean energy

Quartz »

Biden’s wind power goals, by the digits

  • 380,000: Homes the Ocean Wind 1 project can power with its energy, according to the interior department
  • 3,000: “Good-paying” jobs the New Jersey project will generate “through development and a three-year construction cycle,” the federal agency said
  • 98: The number of wind turbine generators the Ocean Wind 1 project has permission to construct, according to the Record of Decision (ROD) documents. Additionally, it can build three offshore substations within its lease area
  • $695 million: How much Ørsted expects to spend on the Ocean Wind 1 project in New Jersey. It has some federal help—the New Jersey legislature narrowly approved a bill last week to let Ørsted keep federal tax credits to insulate it from rising costs due to inflation and the covid-19 pandemic hangover
  • 30 gigawatts (GW): President Biden’s offshore wind power generation goal by 2030, which will power 10 million homes, and create 77,000 jobs

Canada and California absolutely must call Google’s and Facebook’s bluff on news

Brian Merchant, LA Times »

California and Canada must absolutely not give in to the tech giants’ tantrum. This is a bluff, and not a particularly convincing one. For the sake of the beleaguered news industries in both places (yes, including this media outlet), the Canadian and Californian governments must absolutely call it.

For assurance, we should look to Australia, where a like-minded bill went into law in 2021, even after Google and Facebook made the same exact threats. Facebook did initially restrict access to news, but the ploy lasted barely a week before it backfired wildly, and Facebook agreed to comply, albeit after extracting some concessions.

That bill has already restored tens of millions of dollars in revenue to Australia’s troubled newsrooms, and, while far from perfect, has transformed the media environment dramatically.

Toyota claims solid-state battery breakthrough with a possible range of 1,200 km that charges in 10 minutes

The Guardian »

David Bailey, a professor of business economics at the University of Birmingham, said that if Toyota’s claims were founded, it could be a landmark moment for the future of electric cars.

“Often there are breakthroughs at the prototype stage but then scaling it up is difficult,” he said. “If it is a genuine breakthrough it could be a gamechanger, very much the holy grail of battery vehicles.”

FT | The Driven | CleanTechnica

BYD Co. will invest 3 billion reais (US$624 million) in Brazil to build its first electric-car plant outside Asia

Bloomberg »

The Chinese electric-car juggernaut plans to build a production complex in the northeastern state of Bahia to produce both hybrids, EVs, and chassis for electric buses and trucks, as well as to process lithium and iron phosphate.

The BYD factory will have an initial annual capacity of 150,000 units, with the potential to reach 300,000 units. It will be the second facility dedicated exclusively to electric and hybrid cars in Brazil. Two years ago, Great Wall Motors agreed to buy a Daimler AG factory in Sao Paulo, pledging investments of 10 billion reais by 2032.

In Chile, BYD is building a $290 million lithium cathode factory.

Automakers enjoyed stronger sales than previously predicted for the first half of 2023

The Detroit Bureau »

Most analysts predicted sales for the full year 2023 would be between 13 million and 14 million units, with 6.5 million for the first half. However, the actual numbers are going to be closer to 8 million vehicles sold in the U.S. in the first six months, with the second quarter outperforming the first quarter.

“We came into 2023 concerned about affordability, supply constraints, and a fragile economy,” noted Cox Automotive Chief Economist Jonathan Smoke. “But the jobs market has remained healthy, and consumers have found a way to buy new wheels.

“As we close the first half, the market is showing signs of being more balanced, with smaller, more predictable changes in sales and less news about big price changes. A year from now, we might look back at this point as the beginning of a return to normal.”

Top 10 Freest Countries on Earth

Freedom House rates people’s access to political rights and civil liberties in 210 countries and territories through its annual Freedom in the World report. Individual freedoms—ranging from the right to vote to freedom of expression and equality before the law—can be affected by state or nonstate actors.

  • 🇳🇴 Norway » Global Freedom Score 100
  • 🇫🇮 Finland » 100
  • 🇸🇪 Sweden » 100
  • 🇳🇿 New Zealand » 99
  • 🇨🇦 Canada » 98
  • 🇩🇰 Denmark » 97
  • 🇳🇱 Netherlands » 97
  • 🇺🇾 Uruguay » 97
  • 🇮🇪 Ireland » 97
  • 🇱🇺 Luxembourg » 97

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National Geographic lays off it’s remaining staff writers

This should not come as a surprise to anyone who first heard NatGeo had been sold to Rupert Murdoch’s 21st Century Fox back in 2015, and then to WDC. For these massive corporations, it’s all about profits and shareholder value over everyone and everything else.


On Wednesday, the Washington-based magazine that has surveyed science and the natural world for 135 years reached another difficult passage when it laid off all of its last remaining staff writers.

The cutback — the latest in a series under owner Walt Disney Co. — involves some 19 editorial staffers in all, who were notified in April that these terminations were coming.

Nigeria raise concerns as Chinese-owned payment apps PalmPay and OPay gain popularity and Huawei dominates installation of 5G equipment in the country

FT »

Nigeria, with about 220mn people, is the continent’s most populous country and its biggest economy. So, when two Chinese-backed fintech companies hatched ambitions to build African versions of Chinese mobile payment giants Alipay or WeChat Pay, they decided to start in Lagos.

However, the position that Huawei holds in basic telecoms infrastructure, coupled with the popularity of PalmPay and OPay super apps, has raised concerns among some Nigerian officials over potential future Chinese dominance in digital infrastructure and data.



Forest fire centre declares 2023 already worst year ever for Canadian wildfires » It’s only June


Canada surpassed the record for area burned by wildfires in a single year Monday as hundreds of fires continued to blaze in almost every province and territory.

The Canadian Interagency Forest Fire Centre reported Monday afternoon that 76,129 square kilometres of forest and other land has burned since Jan. 1. That exceeds the previous record set in 1989 of 75,596 square kilometres, according to the National Forestry Database.

CNN » Canadian wildfire smoke reaches Europe

The World’s 50 Best Restaurants in 2023

The 2023 edition of ‘The World’s 50 Best Restaurants‘ by publishing group William Reed Business Media was released this week. Here are their rankings »

1. Central, Lima, Peru
2. Disfrutar, Barcelona, Spain
3. Diverxo, Madrid, Spain
4. Asador Etxebarri, Axpe, Spain
5. Alchemist, Copenhagen, Denmark
6. Maido, Lima, Peru
7. Lido 84, Gardone Riviera, Italy
8. Atomix, New York, USA
9. Quintonil, Mexico City, Mexico
10. Table by Bruno Verjus, Paris, France
11. Trèsind Studio , Dubai, UAE
12. A Casa do Porco, São Paulo, Brazil
13. Pujol, Mexico City, Mexico
14. Odette, Singapore
15. Le Du, Bangkok , Thailand
16. Reale, Castel di Sangro, Italy
17. Gaggan Anand, Bangkok , Thailand
18. Steirereck, Vienna, Austria
19. Don Julio, Buenos Aires, Argentina
20. Quique Dacosta, Denia, Spain
21. Den, Tokyo, Japan
22. Elkano, Getaria, Spain
23. Kol, London , UK
24. Septime, Paris, France
25. Belcanto, Lisbon, Portugal
26. Schloss Schauenstein, Fürstenau, Switzerland
27. Florilège, Tokyo, Japan
28. Kjolle, Lima, Peru
29. Boragó, Santiago, Chile
30. Frantzén, Stockholm, Sweden
31. Mugaritz, San Sebastian, Spain
32. Hiša Franko, Kobarid, Slovenia
33. El Chato, Bogotá, Colombia
34. Uliassi, Senigallia, Italy
35. Ikoyi, London, UK
36. Plénitude, Paris, France
37. Sézanne, Tokyo, Japan
38. Clove Club, London, UK
39. The Jane, Antwerp, Belgium
40. Restaurant Tim Raue, Berlin, Germany
41. Le Calandre, Rubano, Italy
42. Piazza Duomo, Alba, Italy
43. Leo, Bogotá, Colombia
44. Le Bernardin, New York, USA
45. Nobelhart & Schmutzig, Berlin, Germany
46. Orfali Bros. Bistro, Dubai, UAE
47. Mayta, Lima, Peru
48. La Grenouillère, La Madelaine-sous-Montreuil, France
49. Rosetta, Mexico City, Mexico
50. The Chairman, Hong Kong

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