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India unveils $109 billion power grid overhaul to support 600 GW of renewables by 2032
India’s power ministry has unveiled an ambitious plan to overhaul its power grid to support a massive expansion of renewable energy capacity through 2032. The initiative, with an estimated cost of 9.15 trillion rupees ($109 billion), aims to integrate 500 gigawatts of renewable power by 2030, more than doubling the current levels…
October 15, 2024 -
China’s export growth slows in September amid weak global demand and trade tensions
China’s export growth decelerated significantly in September, reflecting challenges in both external demand and trade tensions. Exports grew by only 2.4% year-on-year, down sharply from August’s 8.7% increase and far below the 6.0% growth expected by analysts. Imports also weakened, rising just 0.3%, falling…
October 15, 2024 -
LG Energy Solution seals 109 GWh battery deal with Ford for commercial EVs
LG Energy Solution (LGES) has secured a major deal with Ford to supply 109 gigawatt-hours of batteries for the automaker’s commercial electric vehicles (EVs), strengthening their existing partnership. Under this agreement, LGES will deliver 34 gigawatt-hours of batteries from 2026 to 2030, and 75 gigawatt-hours…
October 15, 2024 -
Google signs historic deal for nuclear power from small modular reactors to fuel AI growth
Alphabet’s Google has made a groundbreaking move by signing the world’s first corporate agreement to purchase power generated from small modular reactors (SMRs) to meet its growing electricity demands, particularly fueled by artificial intelligence. This deal, made with Kairos Power, aims to bring Kairos’ first reactor…
October 15, 2024 -
Euro Zone-US bond yield gap widens as ECB faces pressure to cut rates faster
The growing gap between euro zone and U.S. government bond markets is likely to continue widening as Europe’s weakening economy increases pressure on the European Central Bank (ECB) to reduce interest rates more quickly. The yield difference between U.S. and German 10-year bonds has surged…
October 15, 2024 -
Germany considers stricter investor reporting rules after UniCredit’s stake in Commerzbank
Germany is contemplating stricter reporting requirements for investors accumulating stakes in its companies, according to a statement from the finance ministry on Monday. This consideration arises after Italy’s UniCredit unexpectedly acquired a significant share in Germany’s Commerzbank, catching the government by surprise…
October 14, 2024 -
US expands sanctions on Iran’s oil sector following missile attack on Israel
On Friday, the United States broadened its sanctions against Iran’s petroleum and petrochemical sectors following an Iranian missile attack on Israel, as stated by President Joe Biden’s administration. This new measure includes petroleum and petrochemicals in an executive order aimed at crippling key sectors of…
October 14, 2024 -
TSMC eyes further expansion in Europe to capture AI chip market amid global growth
Taiwan Semiconductor Manufacturing Co. (TSMC) is considering further expansion in Europe, particularly targeting the growing market for artificial intelligence (AI) chips. The chipmaker, already establishing a broader global presence, is planning additional plants following the launch of its first European facility…
October 14, 2024
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