General Motors (GM) has announced plans to sell its stake in the $2.6 billion electric vehicle (EV) battery cell manufacturing plant in Lansing, Michigan, to its joint venture partner, LG Energy Solution (LGES). The Detroit-based automaker expects to recover approximately $1 billion from the sale, which is expected to close in the first quarter of […]
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It’s Power Up Your Donation Week! Right now, your contribution to the Electronic Frontier Foundation will go twice as far to protect digital privacy, security, and free speech rights for everyone. Will you donate today to get a free 2X match? Power Up! Give to EFF and get a free donation match Thanks to a […]
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The U.S. Department of Energy has committed to providing up to $7.54 billion in loans to a Stellantis-Samsung SDI joint venture, StarPlus Energy LLC, to build two advanced electric vehicle (EV) battery manufacturing facilities in Kokomo, Indiana. The plants will produce cutting-edge battery cells and modules intended for electric vehicles sold across North America. Upon […]
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Intel Corporation announced on Monday that Pat Gelsinger has retired as CEO, effective December 1, capping nearly four years at the helm of the semiconductor giant. His departure follows a period of significant challenges for the company, including losses in market share, a declining stock price, and ongoing struggles to establish a foothold in the […]
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BT Group has signed a significant new contract worth £1.29 billion with the UK’s Home Office, ensuring the continued development and management of the Emergency Services Network (ESN) for the next seven years. The deal, which takes effect on December 2, 2024, will see BT provide critical mobile services for the nationwide communications network used […]
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Black Friday 2024 has set a new record for online shopping, with U.S. e-commerce sales reaching an impressive $10.8 billion, according to Adobe Analytics. This marks a significant milestone in the evolution of Black Friday, which has increasingly shifted from in-store shopping to digital platforms in recent years. Record-Breaking Sales Reflect Shifting Consumer Trends The […]
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Virtual Power Plants (VPPs) are reshaping China’s energy market, offering an innovative solution to balancing supply and demand by aggregating decentralized resources, such as energy storage, electric vehicle (EV) charging stations, and renewable energy sources like solar and wind power. This emerging technology not only promotes sustainable energy practices but also provides financial benefits to […]
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Vietnam has officially approved a monumental $67 billion high-speed rail project that will revolutionize domestic travel and bolster the country’s infrastructure. The planned rail line, set to stretch 1,500 kilometers (930 miles) from Hanoi in the north to Ho Chi Minh City in the south, promises to significantly reduce travel time from 30 hours to […]
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Swiss multinational Holcim has announced its decision to exit the Nigerian market by selling its nearly 84% stake in Lafarge Africa to China’s Huaxin Cement. The deal, valued at approximately $1 billion, is a strategic move by Holcim to streamline its operations and focus on its core markets, marking a significant shift in its business […]
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In a surprising move, Barclays has bucked the prevailing trend of rising mortgage rates, offering cuts to some of its key products despite widespread increases from major UK lenders. This marks a notable shift in the mortgage market, where the majority of lenders have raised rates in recent weeks following growing concerns about inflation and […]
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