Higher prices when demand is high was meant to incentivize companies to build more generators and plants. Last week proved that didn't happen.
Pomerantz LLP is investigating claims on behalf of investors of Atos SE ("Atos" or the "Company") (OTCMKTS: AEXAY). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
A truck driver was sentenced to 22 years in prison on Wednesday for hitting and killing four police officers on an Australian freeway. Mohinder Singh was drug-effected and sleep-deprived when his truck veered into an emergency stopping lane of Melbourne’s Eastern Freeway where three policemen and a policewoman were standing after stopping a speeding car on April 22 last year. Singh, 48, pleaded guilty in the Victoria state Supreme Court last year to four counts of culpable driving causing death, three charges of drug trafficking and one of possessing illicit drugs.
Japan's core machinery orders unexpectedly fell the most in about a year in February, government data showed, dashing hopes for a pick-up in capital expenditure needed for a private sector-led recovery from the coronavirus-induced slump. The Cabinet Office data on Wednesday showed core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, fell 8.5% in February from the previous month. "The sharp fall in machinery orders in February poses downside risks to our view that business investment continued to rise last quarter," said Tom Learmouth, Japan economist at Capital Economics.
Green Bay Packers quarterback Aaron Rodgers earned more laughs as he continued his guest-hosting gig on "Jeopardy!"
Data collected from Tesla Inc's electric cars in China is stored in China, the U.S. automaker's vice president said, after reports that China's military has banned Teslas from its facilities. "Tesla as a company with operations in China must abide China's laws and regulations," Tao Lin told reporters in Beijing on Tuesday.
An Atlanta, Georgia, high school bearing the name of the first Ku Klux Klan grand wizard will be renamed in honor of the late baseball great Hank Aaron, the Atlanta Journal-Constitution first reported Tuesday.Details: The city's school board voted unanimously Monday to rename Forrest Hill Academy the Hank Aaron New Beginnings Academy after the Major League Baseball Hall of Famer, who broke racial barriers and in 1974 smashed Babe Ruth's longstanding career home run record.Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for freeThe school was originally named after Klan leader and Confederate Gen. Nathan Bedford Forrest.The vote waived a school district policy of waiting five years after a person has died to name a person dies to name a school building after them in order to make possible the change of name to honor the Atlanta Braves star, who died in January aged 86.What they're saying: Board chair Jason Esteves noted during an online meeting ahead of the vote that "names do matter."Board member Michelle Olympiadis added, "It's very important that we understand our history, it's very important that we understand where we are coming from .. it gives a lot of credence to our character and our morals."For the record: Aaron faced racism throughout his Major League Baseball career, which began with the Milwaukee Braves in 1954. Among barriers he faced at the start of his career was the barring of Black players from Florida hotels where white teammates stayed for spring training. "He pressed management for change, with no immediate success," the New York Times notes.Aaron's record 755 home runs stood for 33 yearsThe big picture: The renaming of the school is part of a wider push against slavery and Confederate symbols across the U.S., with dozens removed, relocated or renamed last year after anti-racism protests erupted over George Floyd's death.More from Axios: Sign up to get the latest market trends with Axios Markets. Subscribe for free
Aaron Rodgers' quick wit was on full display for Tuesday's "Jeopardy!" episode, starting with that clue about the Green Bay Packers.
When Japan won the bid to host the Olympic Games eight years ago, it billed Tokyo as a reliable and secure location, contrasting it with rivals struggling with finances and political instability. The biggest headache is the resurgent coronavirus, with countries like India and Brazil battling new variants and a fresh rise in cases. In Japan, vaccinations have been the slowest among developed economies, as Tokyo has lurched in and out of soft lockdowns.
(Bloomberg) -- China is clamping down on independent oil refiners in an effort to curb overcapacity and stamp out illegal practices as the central government tries to control one of the country’s fastest-growing industries.The National Development and Reform Commission, the top economic planner, begins inspections this week of more than 50 privately-owned oil refineries, most of them in the eastern province of Shandong, said people with knowledge of the checks.A key reason for the probe is to determine whether processors have closed outdated, polluting equipment demanded by Beijing over the past decade, they said, asking not to be named as the matter is private. Inspectors will also visit plants that are allowed to buy foreign crude to investigate allegations of irregular activities such as tax evasion and illegal resale of the imports, the people said.China is trying to curb overcapacity, a move that could potentially effect the growth of China’s crude imports. Private refiners have caused a seismic shift in the global oil market since Beijing gave them permission to import crude in 2015. While state-run PetroChina Co. and China Petroleum & Chemical Corp. -- better known as Sinopec -- still account for the majority of the nation’s refining, independent producers processed 3.16 million barrels a day in 2020, rivaling that of Japan or South Korea.“The intensity and depth of this inspection may be greater than any checks before,” Chinese consultancy JLC said in a note. There are large uncertainties on the enforcement and possible problems, it said.A March report by China Energy News, an industry journal run by the state-owned People’s Daily, estimated that excess refining capacity in China could grow to 150 million tons a year by 2025 unless authorities strengthen supervision and implement controls. The report was read by top Chinese leaders and partially triggered the inspections, the people said.The paper said some refineries had been meeting targets to cut capacity by double counting or reporting reductions that had been idled earlier. The NDRC didn’t respond to a fax requesting details of the new probe.Since they began to pop up in the early 1990s, the independent plants have shown a knack for survival. Known as ‘teapots’ because of the shape of early designs, they grew from small clay kilns that began processing oil from fields in Shandong that produced more than state refiners could take.Beijing initially tried to shut them down in a bid to keep the industry in the hands of the state refiners, but local government support and the exploitation of tax loopholes allowed teapots to thrive. Processors in Shandong have been operating near record levels after a sharp rebound from the pandemic in April last year.Shandong’s refineries have been promising to merge and upgrade since at least 2018 in the face of growing competition from state-backed rivals, new private mega-complexes in neighboring provinces, stricter tax rules and reduced access to funding. Key to the industry’s transformation is President Xi Jinping’s campaign to reduce refining as part of efforts to cut emissions.Officials will check whether 17 small refineries in Shandong that were supposed to shut down last year actually halted output, the people familiar with the plans said. The inspections, reported by JLC on April 12, will take from three to five days in each refinery and will be carried out by NDRC officials and industry experts, who will submit their conclusions to top economic officials of the central government, the people said.(Adds analyst comment in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
New Zealand Rugby has granted conditional approval for two Pacific Islands teams to join an Australia-New Zealand Super Rugby tournament beginning next year. Moana Pasifika, a team of players of Samoan and Tongan heritage, likely will be based in South Auckland while the Fiji Drua will be based in the Fiji capital Suva. New Zealand Rugby in November confirmed the teams as its preferred Pacific partners subject to their meeting certain financial criteria.
Pomerantz LLP is investigating claims on behalf of investors of AdaptHealth Corporation ("AdaptHealth" or the "Company") (NASDAQ: AHCO). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
Adam Duvall drove in seven runs against his former Atlanta teammates with four hits, including two home runs, and the Miami Marlins beat Max Fried and the Braves 14-8 on Tuesday night. Duvall's two-run double during a four-run fourth inning gave Miami the lead. Duvall tied a Marlins record by becoming the sixth player to drive in seven.
While “Jeopardy!” producers have been singing guest-host Aaron Rodgers praises since he started last week, the Green Bay Packers quarterback couldn’t help but take it personally when all three contestants dropped the ball on an easy clue Tuesday. Under the category of Title Waves, Rodgers read the $400 clue, “In the 1960’s these midwesterners earned 5 NFL Championship trophies.” Rodgers was shocked that none of the contestants even attempted the correct answer, which was of course the Green Bay Packers. Viewers couldn’t believe the contestants missed the clue either, and several loved the tight-spiralled shade Rodgers threw at them. In fact, his response even reminded some fans of former host Alex Trebek. One person tweeted, “Aaron Rodgers was as disappointed with the contestants missing a Green Bay Packers clue as Trebek was when they missed a Canada one.”
Apr. 13—A Coos Bay man is behind bars after being arrested Saturday night for allegedly murdering his own grandmother. District Attorney R. Paul Frasier issued a press release and reported Kevin Lee Yates, 32, is facing charges of second degree murder after his 89-year-old grandmother was found dead at a home in Coos Bay. Frasier said the Coos County Sheriff's Office received a 911 call ...
(Bloomberg) -- A surge in demand for electric vehicles is sending the price of raw materials soaring, threatening to slow the push toward making cheaper batteries that are key to more widespread adoption.Lithium, the mainstay for rechargeable power packs used in EVs, is roaring back after a three-year slump in prices, while cobalt surged about 57% last quarter. Nickel jumped to a more-than six-year high earlier this year on optimism about the clean energy transition, though fell in March on plans by a top Chinese producer to beef up its battery business.China is the biggest player in EV batteries, with the majority of the world’s capacity, and has a stranglehold over the processing of crucial battery materials. With demand building, producers are striving to make cheaper batteries -- the most expensive components of EVs, accounting for about 30% of the total cost.“If lithium and other high-cost inputs, such as cobalt and nickel, enter periods of sustained higher pricing, this would eventually take its toll on the ability of battery producers to keep lowering costs,” according to Cameron Perks, a senior analyst at Benchmark Mineral Intelligence.The average price of a lithium-ion battery pack dropped to $137/kWh in 2020, according to a BloombergNEF survey last year. A decade ago, they were sold for over $1,000. EVs are expected to start reaching price parity with internal combustion cars when the price touches $100/kWh.“If raw material prices were to rise to 2018 levels, we expect it would only delay the point at which battery pack prices reach below $100/kWh by around two years, meaning it will be delayed from 2024 to 2026,” according to James Frith, an analyst at BloombergNEF.The urgency is being felt out in the market. Gotion High-Tech Co. Ltd., China’s fifth-biggest battery producer, said it has been seeking to secure upstream lithium supply to stabilize raw material costs and was also improving production processes and technology to counter the impact of higher input costs. “While a surge in lithium will not derail electrification, it may create resistance to lowering battery prices in the near term,” it said.Input CostsA wholesale shift away from lithium and other high-cost materials would not be realistic in the short term, “but efforts to thrift or develop alternative chemistries may accelerate,” Benchmark Mineral’s Perks said.The battery sector has already tried to raise the energy density of cathodes and change the composition so that it uses fewer expensive materials. Some cars in China have returned to lithium-iron-phosphate (LFP) batteries, which are simpler to manufacture and use lower-cost ingredients. Others might eye investing up along the EV supply chain or ultimately, passing on the costs to consumers.For Ezgo Technologies Ltd., a Chinese electric-bike firm, production costs have been pushed higher on the back of elevated raw material prices since last year, according to Ye Jianhui, chief executive officer of the U.S.-listed company. Prices of its electric bikes have climbed on average about 5% to 10%, Ye said in an interview last month.Lithium ShortfallDemand for lithium-ion batteries is expected to surge tenfold by 2030, according to BloombergNEF. Meanwhile, Benchmark Mineral expects a structural deficit for lithium could emerge as soon as late 2021 and increase to 120,000 tons in 2022, according to Perks.Read more: Wall Street Is Betting Billions on an EV-Fueled Lithium ComebackMacquarie Group Ltd. said its bullish view for global electric vehicle demand had transformed the outlook for the lithium market. The supply response to surging demand for lithium “is likely to disappoint”, limited by rising product-quality requirements, the bank said in a note Monday, and lifted its lithium price forecasts through 2025.Underinvestment in new mines and refineries amid the previous price downturn has contributed to an expected shortfall in lithium. Still, any project developments might not immediately translate to availability in supply, meaning the tightness in the market may see more upswing.“The critical factor in respect to lithium is also the ability to refine this new, or flexible capacity, to battery-grade specifications,” said Perks. “This isn’t something the industry has a strong track record of delivering on.”(Adds comments on lithium market outlook in third last paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
"You don't have the authority to take lives like that," said Elaine Walls, Daunte's great-grandmother, who spoke exclusively with ABC13 on Tuesday.
After introducing brand new Forces of Natures in the last three episodes, 'The Flash' took a bit of a break from that storyline in tonight's episode 'Growing Pains.'
The National Women’s Soccer League opened an investigation Tuesday under its anti-discrimination policy after a Black player for the Chicago Red Stars said a security guard in Houston treated her and her boyfriend inappropriately because of their race. In a social media post on Saturday morning, Sarah Gorden said her boyfriend, who is also Black, was followed and threatened with arrest when he approached her after a scoreless draw between the Red Stars and the Houston Dash at BBVA Stadium on Friday night. Red Stars assistant coach Scott Parkinson backed Gorden’s account, saying the security guard was belligerent.
Sharon Johal says she faced taunts and mockery of her Indian background from other castmates.
Willson Contreras struck back after getting plunked again by the Brewers, hitting a two-run homer in the eighth inning and enjoying his trip around the bases as the Chicago Cubs rallied past Milwaukee 3-2 on Tuesday night. Contreras, who has already been hit by a pitch from the Brewers three times this season, got his revenge when he hit a towering drive to left-center off Brent Suter (0-1). The long drive delighted the large contingent of Cubs fans at Milwaukee’s American Family Field.
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