Big Plan had an incredible sneak peek of F1 at a private event with Carlos Sainz ahead of the race. He praised the Austin track as one of his favorites, blending modern design with old-school charm. Proud to see F1 continue putting Austin on the global stage. Huge thanks to Las Vegas Sands Corp for the invitation! Welcome and best of luck to all the amazing F1 racers from around the world!
Apple Inc. worked with Chinese automaker BYD Co. for years as part of its now-canceled car project, developing long-range batteries that helped lay the groundwork for technology used today, according to people familiar with the situation.
Apple and the Shenzhen-based company teamed up around 2017 to build a battery system using lithium iron phosphate cells, said the people, who asked not to be identified because the effort hasn’t been disclosed. The technology was designed to be longer-range and safer than typical electric-vehicle batteries at the time.
Inflation rates are falling and the global economy is on track for a soft landing, but the outlook for growth is tepid and rising trade barriers are a headwind, the head of the International Monetary Fund said Thursday.
In a speech ahead of the fund’s annual meetings in Washington, D.C., next week, IMF Managing Director Kristalina Georgieva said governments should act quickly to halt a sharp rise in their debts, and work together to resolve growing trade tensions.
The chairman of General Atlantic, among the largest U.S. investors in China with stakes in TikTok owner ByteDance and online fashion retailer Shein, said in a speech in New York on Tuesday that he remains upbeat about a rebound in collaboration and business ties between the two powerful countries despite increased tensions in the bilateral relationship.
Peru's massive Chancay port, which authorities hope will become a major shipping hub for South America-Asia trade, will ship two container ships a week beginning late next month, an executive for port operator Cosco Shipping said on Friday.
After the port's inauguration in mid-November, it will initially cover a direct route to Shanghai and then may ship to other points in the Asian market, depending on demand, said Carlos Tejada, general manager of Hong Kong-based Cosco's local subsidiary, Cosco Shipping Chancay Peru.
Oil prices fell 2% on Monday as OPEC again lowered its outlook for 2024 and 2025 global oil demand growth while China's oil imports fell for the fifth straight month.
China's stimulus plans failed to inspire investor confidence while markets kept watching for potential Israeli attacks on Iranian oil infrastructure.
The Biden administration on Friday announced $2 billion in funding for projects to strengthen the resilience of the U.S. grid against extreme weather, an increasing concern following two consecutive major hurricanes in the Atlantic.
The funding, which will go to 38 projects in 42 states, will be provided through the Grid Resilience and Innovation Partnerships (GRIP) program, a $10.5 billion initiative included in the 2021 Bipartisan Infrastructure Law, Energy Department officials told reporters on a call.
The U.S. Energy Department said on Tuesday it closed an $861 million loan guarantee to finance the construction of two solar photovoltaic farms and two battery storage systems in Puerto Rico.
The power grid of Puerto Rico, a U.S. territory, has been battered by hurricanes in recent years, and people in remote mountain towns were left without power for nearly a year after Hurricane Maria in 2017. Between 3,000 and 4,600 people died after Maria knocked out power, studies say.
Amazon on Wednesday said that it was investing in small nuclear reactors, coming just two days after a similar announcement by Google, as both tech giants seek new sources of carbon-free electricity to meet surging demand from data centers and artificial intelligence.
The plans come as the owner of the shuttered Three Mile Island nuclear power plant said last month it plans to restart the reactor so tech giant Microsoft can buy the power to supply its data centers. All three companies have been investing in solar and wind technologies, which make electricity without producing greenhouse gas emissions. Now they say they need to go further in the search for clean electricity to meet both demand and their own commitments to cut emissions.
SpaceX launched its enormous Starship rocket on Sunday on its boldest test flight yet, catching the returning booster back at the pad with mechanical arms.
Towering almost 121 meters, the empty Starship blasted off at sunrise from the southern tip of Texas near the Mexican border. It arced over the Gulf of Mexico like the four Starships before it that ended up being destroyed, either soon after liftoff or while ditching into the sea. The last one in June was the most successful yet, completing its flight without exploding.
Blue Owl Capital has formed a $3.4-billion joint venture with Crusoe Energy Systems and Primary Digital Infrastructure to fund an AI data center in Texas.
The three companies said Tuesday that they will come together to fund the purpose-built data center capacity at the Lancium Clean Campus in Abilene, Texas. The campus is a 998,000 square foot, 206-megawatt data center designed, built, and operated by Crusoe, an AI infrastructure company.
In August, the U.S. Court of Appeals for the District of Columbia issued a ruling in City of Port Isabel vs. FERC (Federal Energy Regulatory Commission) that took the unprecedented step of vacating the federal permits of two South Texas liquefied natural gas facilities — the $18.4 billion Rio Grande LNG terminal and Texas LNG — more than a year after they were issued. But the ramifications of this decision extend far beyond LNG. If it stands, the ruling would set a precedent that could derail future development for all forms of energy, and Texas’ position as a clean energy leader could be squandered.
A supersized Austin-based manufacturer announced it has acquired a California-based manufacturer for $325 million.
Flex LTD. announced on Oct. 17 that it entered into a definitive agreement to acquire Crown Technical Systems in an all-cash transaction. The deal is expected to close by December.
Better Sour Co. is doubling its retail door count in less than one year, inking new deals and solidifying previous partnerships.
The better-for-you sour candy company, co-founded by childhood friends Isabella Hughes and Semira Nikou, is slated to be in 3,000 stores by the end of this year. Just about a year ago, Better Sour was in about 100 stores. But it seems that its candy has captured a wide audience, with its target consumer being Gen Z and Millennial candy foodies, as well as their parents, Hughes said.
Intel Corp. is laying off more than 250 employees in Austin, part of a broad cost-cutting move announced by the chipmaker over the summer in which it is eliminating about 15,000 jobs companywide.
The Santa Clara, California-based company detailed plans for 251 Austin layoffs in a notice to the Texas Workforce Commission required under the federal Worker Adjustment and Retraining Notification Act, which mandates that employers alert local governments to large job cuts.
Long before Fred Smith was the billionaire founder of FedEx, he was a Vietnam veteran with a love of flying and a small fleet of planes for hire. “I would be flying these parts and pieces from Xerox in Rochester to Pittsburgh or wherever the case may be,” he told a gathering of 200 Goldman Sachs executives and entrepreneurs on Thursday. “And I would sort of sit in amazement there and say, ‘They’re hiring me and this whole damn airplane to carry this little part.’”
Artificial intelligence tools like ChatGPT depend on chips and energy. But a $1 trln rush to build data centres faces constraints on planning and power. In this episode of The Big View podcast, Morgan Laughlin of asset manager PGIM explains the virtual frenzy’s physical limits.
As China ramps up renewable-energy production, the U.S. risks becoming dependent on oil and other outdated energy sources
China is positioning itself as the global leader in tomorrow's technologies, outpacing the U.S.
The U.S. faces a surprising economic threat: ultra-cheap energy.
While low energy prices have long been hailed as a boon for economic growth, they undermine America's future competitiveness, particularly in the face of China's rapid rise. If the U.S. doesn't swiftly invest in renewable energy and other promising energy-related technologies, its economic leadership could be challenged by a rival now strategically positioning itself through long-term energy investments.
