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Showing posts from March, 2023

U.S. renewable electricity surpassed coal in 2022

The U.S. Energy Information Administration announced that electricity generated from renewables surpassed coal electricity production in the United States for the first time in 2022 Electricity generated from renewable s surpassed coal in the United States for the first time in 2022, the U.S. Energy Information Administration announced Monday. Renewables also surpassed nuclear generation in 2022 after first doing so last year. Growth in wind and solar significantly drove the increase in renewable energy and contributed 14% of the electric ity produced domestically in 2022. “I’m happy to see we’ve crossed that threshold, but that is only a step in what has to be a very rapid and much cheaper journey,” said Stephen Porder, a professor of ecology and assistant provost for sustainability at Brown University. California produced 26% of the national utility-scale solar electricity followed by Texas with 16% and North Carolina with 8%. The most wind generation occurred in Texas, which accou...

More Americans file for jobless claims; layoffs remain low

U.S. applications for jobless benefits rose last week but remain at historically low levels despite the Federal Reserve’s efforts to cool the economy and job market in its fight against inflation U.S. applications for jobless benefits rose last week but remain at historically low levels despite efforts by the Federal Reserve to cool the economy and the job market in its fight against inflation. Jobless claims in the U.S. for the week ending March 25 rose by 7,000 to 198,000 from the previous week, the Labor Department said Thursday. The four-week moving average of claims, which evens out some of the week-to-week fluctuations, rose by 2,000 to 198,250, remaining below the 200,000 threshold for the tenth straight week. Applications for unemployment benefits are broadly seen reflective of the number of layoffs in the U.S. Last week, the Federal Reserve extended its year-long fight against high inflation by raising its key interest rate by a quarter-point, despite concerns that higher bo...

Honda recalls more than 330,000 vehicles due to mirror issue

Honda is recalling more than 330,000 vehicles because heating pads behind both side-view mirrors may not be bonded properly, which could lead to the mirror glass falling out and increase the risk of a crash Honda is recall ing more than 330,000 vehicles because heating pads behind both side-view mirror s may not be bonded properly, which could lead to the mirror glass falling out and increase the risk of a crash. Vehicles included in the recall are 2020-2022 Odyssey, 2020-2022 Passport, 2020-2021 Pilot and 2020-2021 Ridgeline. The National Highway Traffic Safety Administration said that the vehicles don't comply with the necessary rear visibility requirements. Honda dealers will replace the side-view mirrors on impacted vehicles free of charge. Owner notification letters are expected to be sent out on May 8. Vehicle owners may contact Honda customer service at 1-888-234-2138 or the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236. Sourc...

US officials criticize Ethiopian report on Boeing Max crash

U.S. crash investigators say Ethiopian authorities aren't considering all the possible causes of a deadly 2019 crash involving a Boeing 737 Max WASHINGTON -- U.S. crash investigators say Ethiopian authorities failed to consider all factors that contributed to a deadly 2019 crash after a key flight-control system malfunctioned on a Boeing 737 Max airplane. The National Transportation Safety Board agreed with the Ethiopians' conclusion that the automated flight system was partly responsible for the crash by pitching the nose of the plane downward. However, the board also faulted the pilots' “inadequate use" of other means of manually controlling the plane. The U.S. board said Ethiopian Airlines failed to train pilots how to respond when the nose of the plane pitches down unexpectedly. The U.S. investigators said that a sensor that sent erroneous readings to the flight-control system, causing it to malfunction, might have been damaged by the plane hitting a bird soon ...

Stocks rally on Wall Street; job market remains strong

Stocks rallied on Wall Street as investors reviewed government data showing that the labor market remains strong BANGKOK -- Stocks rallied on Wall Street in afternoon trading Thursday as investors reviewed the latest government update showing that the labor market remain s strong . The S &P 500 rose 1.8% as of 3:02 p.m. Eastern. More than 95% of stocks within the benchmark index gained ground. It's the latest oscillation in what has been a volatile, holiday-shortened week for stocks. The Dow Jones Industrial Average rose 371 points, or 1.1%, to 33,247 and the Nasdaq rose 2.6%. Technology stocks, which are down 29% this year, powered much of the rally . Apple rose 3% and Microsoft added 2.7%. Tesla jumped 6.2% as it continued to recover from steep losses Tuesday following reports it temporarily suspended production at a factory in Shanghai. The stock is still down 66% for the year. Investors have been hoping for a “Santa Claus” rally. That’s Wall Street’s term for when stocks ...

Drone advances in Ukraine could bring dawn of killer robots

Drone advances in Ukraine have accelerated a technology trend that could soon bring the world’s first fully autonomous robots to the battlefield and inaugurate a new age of warfare KYIV, Ukraine -- Drone advances in Ukraine have accelerated a long-anticipated technology trend that could soon bring the world's first fully autonomous fighting robots to the battlefield, inaugurating a new age of warfare. The longer the war lasts, the more likely it becomes that drones will be used to identify, select and attack targets without help from humans, according to military analysts, combatants and artificial intelligence researchers. That would mark a revolution in Military Technology as profound as the introduction of the machine gun. Ukraine already has semi-autonomous attack drones and counter-drone weapons endowed with AI. Russia also claims to possess AI weaponry, though the claims are unproven. But there are no confirmed instances of a nation putting into combat robot s that have kil...

Southwest apologizes, gives customers frequent-flyer points

Southwest Airlines is trying to fix its relationship with travelers who got stuck by canceled flights over the holidays DALLAS -- Southwest Airlines is trying to make Travel ers who were caught in its surge of canceled flights over the holidays feel a bit better about the airline by giving them 25,000 frequent-flyer points . The airline says the points are worth more than $300 in flights. Southwest included the offer in a letter — another apology for the meltdown — from CEO Bob Jordan. “I know that no amount of apologies can undo your experience,” Jordan wrote. He added the airline is acting “with great urgency” to process refunds, return lost bags and handle requests for reimbursement of costs incurred by stranded travelers. Dallas-based Southwest canceled more than 15,000 flights between Dec. 22 and Dec. 30, according to tracking service FlightAware. The flight disruptions began with a winter storm that swept across the country. While other airlines recovered after a couple...

White House gun violence program with philanthropies ends

A little known Biden administration initiative to reduce gun violence that was funded by philanthropic foundations wrapped up in December with a celebration hosted in Washington NEW YORK -- It was small, as Washington celebrations go — two senior Biden administration advisers gathered with program participants near the White House on a Thursday afternoon in December to mark the end of a little-known initiative with a budget of less than $8 million. The impact of The Community Violence Intervention Collaborative (CVIC), though, may yet be larger, both in the fight to slow the growth of gun violence and in the way philanthropy and government work together. The Biden administration used CVIC to get public funding to fight gun violence to 50 grassroots organizations that would normally be too small to get federal funding directly, as well as training and other support for 18 months to prepare them to receive even more funding. It's an effort some participants applauded, while o...

Tesla stock plummeted 12% in a single day. Here's why

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The losses at Tesla wiped nearly $50 billion from the company's value and elicited scrutiny of CEO Elon Musk. Shares of Tesla plummeted 12% on Tuesday, wiping nearly $50 billion from the company's value and eliciting scrutiny of CEO Elon Musk as he appears tofocus on Twitter. The losses exacerbated a skid that goes back months. Since Musk acquired Twitter in late October, Tesla stock has fallen by half. Since last January, when Musk began investing in Twitter, the company has lost nearly three-quarters of its value. In early trading on Wednesday, Tesla stock jumped about 3%, recovering some of the losses. The precipitous drop this week followed a disappointing sales report for the last three months of 2022, which fell short of Wall Street expectations. Tesla delivered 405,000 vehicles from October through December; analysts anticipated 420,000 deliveries. In all, Tesla sold a total of 1.3 million cars last year, which marked a 40% increase from the year prior. The figure fell...

India approves $2.3 billion to develop green hydrogen

Marking its biggest effort yet to make India a global hub for production, use and export of hydrogen, the Indian federal government approved $2.3 billion funding with an aim to grow various segments of the green hydrogen sector in India BENGALURU, India -- The government has approved $2.3 billion to support production, use and exports of green hydrogen, aiming to make India a global hub for the nascent industry. The funding, announced late Wednesday, i s a first step toward establishing the capacity to make at least 5 million metric tons of green hydrogen by the end of this decade. Green hydrogen is hydrogen that is produced through the electrolysis of water, powered by electricity generated from renewable sources of energy. Most of the world’s hydrogen is produced using fossil fuels, especially natural gas. The aim of the funding initiative is “to make green hydrogen affordable and bring down its cost over the next five years. It will also help India reduce its emissions and become a ...

US jobless claim applications fall to lowest in 14 weeks

The number of Americans applying for jobless benefits fell to the lowest level in more than three months last week, reflecting a still-robust job market despite the Federal Reserve’s efforts to cool the economy and bring down decades-high inflation WASHINGTON -- The number of Americans applying for jobless benefits fell to the lowest level in more than three months last week, reflecting a still-robust job market despite the Federal Reserve's efforts to cool the economy and bring down decades-high inflation. Applications for unemployment aid for the week ending Dec. 31 fell by 19,000 to 204,000, the Labor Department reported Thursday. The labor market is closely monitored by Fed policymakers, who raised interest rates seven times last year in a bid to slow job growth and bring down stubbornly high inflation. So far, there have been little indication that it has weakened the job market enough to for the Fed to alter its course in 2023. Also Thursday morning, the payroll processing ...

Former CEO of crypto firm Celsius sued in New York over alleged fraud

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The lawsuit alleges that the former crypto executive defrauded hundreds of thousands of investors while leading Celsius. The former chief executive of the Cryptocurrency lending platform Celsius Network defrauded hundreds of thousands of investors out of hundreds of millions of dollars' worth of Cryptocurrency , New York Attorney General Letitia James alleged in a new lawsuit filed Thursday. Alex Mashinsky lied to investors, concealed Celsius' dire financial condition and failed to register as required by state law, the lawsuit said. As Celsius lost some $440 million in risky investments, Mashinsky concealed the platform's rapidly deteriorating financial condition, according to the lawsuit, which seeks to ban him from doing Business in New York and requires him to pay damages, restitution and disgorgement. MORE: Was 2022 the year cryptocurrency died? Experts weigh in "As the former CEO of Celsius, Alex Mashinsky promised to lead investors to financial freedom but ...

FTC proposes rule that would ban employee noncompete clauses

The Federal Trade Commission is proposing a rule that would prevent employers from imposing noncompete clauses for workers The Federal Trade Commission proposed a rule Thursday that would ban U.S. employers from imposing noncom Pet e clauses on workers, a sweeping measure that could make it easier for people to switch jobs and deepen com Pet ition for labor across a wide range of industries. The proposed rule would prevent employers from imposing contract clauses that prohibit their employees from joining a competitor, typically for a period of time, after they leave the company. Advocates of the new rule argue that noncompete agreements contribute to wage stagnation because one of the most effective ways to secure higher pay is switching companies. They argue that the clauses have become so commonplace that they have swept up even low-wage workers. Opponents argue that by facilitating retention, noncom Pet e clauses have encouraged companies to promote workers and invest in training...