United States

Nvidia may be synonymous with AI, but a group of lesser-known power and cooling equipment providers is also cashing in on the global data center construction boom as developers rush to avoid infrastructure bottlenecks. The energy-hungry data centers have created a surge of demand for equipment from transformers to advanced cooling systems. This has created winners throughout Asia's supply chains, though earlier stock price gains have moderated. McKinsey predicts that data centres will be worth $7 trillion by 2030. Nvidia said last week it expected AI spending to continue for many years. It is getting harder to build data centres...

Treasury Secretary Scott Bessent stated on Tuesday that the United States will likely announce sanctions against a bank in this week as part of its economic campaign against Iran. "We will probably announce a sanction against a bank this week and another the following week." Bessent stated that he was speaking with our allies in the area, who had all expressed their support. The treasury secretary said that the United States was targeting airline leasing companies and other entities who did business with the Islamic?Revolutionary Guard Corps (IRGC) at an event held on the sidelines of a meeting of 20...

The music publishing divisions of Sony Music 'and 'Warner Music sued Anthropic at the federal court in California for allegedly using their copyrighted compositions as a basis to train Claude AI models. Sony and Warner stated in their complaint filed on Friday that Anthropic had pirated hundreds song lyrics and sheet songs from The Beatles to Taylor Swift to Michael Jackson to train Claude to respond to human prompts. This lawsuit is part of a series of similar cases filed by copyright holders, including publishers, authors, music labels, and news outlets, against tech companies for using their work in AI...

Japan's crude oil imports increased by 17% from the previous year in July, as a result of a surge in U.S. Official data released on Monday showed that?shipments, a resurgence in Saudi Arabian purchases and lower supplies from Middle Eastern producers were offset by a rise in?supplies. The Ministry of Trade, Economy and Industry reported that imports increased to 2,38 million barrels a day (11.72 millions kilolitres) for the second consecutive month despite disruptions caused by the U.S./Israeli war against Iran. Imports to?the Middle East dropped 21.4% from July. The United Arab Emirates, Japan's two largest suppliers, and Saudi Arabia...

Donald Trump has accused U.S. refiners of ripping off Americans. He also called for an investigation by the Justice Department and encouraged companies to use their profits to'reduce gasoline prices, which spiked during the conflict with Iran. He is expected to welcome many of these companies to the White House on Tuesday to celebrate their efforts to maintain a well-supplied market in an effort to manage gasoline prices, which currently average over $4 per gallon. Executives have had to make an unusual calculation because of the timing. According to those familiar with the plans and the timing, companies received the...

SK On, a South Korean battery manufacturer, announced on 'Monday that it had signed a contract to supply U.S. -based NeoVolta Power 9 Gigawatt Hours (GWh), of lithium iron phosphate?battery cells. These will be used in energy storage systems over a five-year period starting 2027. In a press release, SK On said that the pouch-type cells would be manufactured at its factory in Georgia. SK On has not disclosed the value of the deal but industry estimates place it at approximately 1.5 trillion won ($1.09billion). SK On has entered into an agreement to expand its energy storage systems business in...

The Wall Street Journal reported on Saturday that the U.S. Government plans to acquire a 35% passive stake in North American Blue Energy Partners of Venezuelan businessman Alejandro Betancourt, citing "people" involved in the negotiations. The WSJ reported that the U.S. plans to also secure preferential rights for the purchase of 20% of the production costs at the company. The Pentagon's Office of Strategic Capital intends to?structure the investment through penny-warrants that would give the U.S. a?equity ownership in the business? without significant capital investments, according to the WSJ. The report was released just a day after U.S. president Donald...

Sources with knowledge of the negotiations said that Trump administration officials were working on a deal to secure long-term?access to a part?of Venezuela’s crude reserves. This could lower the price of crude imports. Sources said that the agreement, which may be signed soon and made public, will allow the U.S. to lock in a grouping of Venezuelan oilfields that are to be developed by American firms. They added that the U.S. would receive a guaranteed supply. One source said, "This is a real issue and it's being discussed at the highest level of the U.S. government and Venezuelan government." Separately,...

People familiar with the situation said that President Donald 'Trump' is expected to meet next week with U.S. fuel retailers and refiners to discuss efforts to reduce?gasoline costs. His administration is attempting to relieve the pressure on consumers from the Iran War ahead of the midterm elections in November. Trump and his Republican colleagues are facing a high political stakes as they try to protect their narrow majority in Congress. Trump's promise to lower the cost of living in 2024 is under threat as a result of higher gasoline prices and an unpopular war with Iran. Trump's approval ratings have...

The Kremlin reported on Wednesday that U.S. CIA Director John Ratcliffe met with Russian intelligence officials but did not meet Vladimir Putin during a trip to Moscow, which U.S. president Donald Trump referred to as "semi routine." Dmitry Peskov, Kremlin spokesperson, told reporters that Putin was briefed about the outcome of the visit on Tuesday. The visit came at a time when the war in Ukraine is dragging on and efforts to achieve a lasting peace with the United States and Iran are stalled. Peskov refused to reveal what was discussed or provide further details. "All I can say is...

Ryosei Akazawa, Minister of Economy, Trade, and Industry, said that Japan will not release any more crude oil in September or October. He said that the amount of crude oil purchased in September will be about 80% less than the average monthly volume last year. This is because tankers which would normally travel through the Bab el-Mandeb Strait, are now being rerouted to the 'longer Suez route. Akazawa, a Japanese?press officer, said that Japan expects the August purchase to be the same as last year, but the September?volumes are expected to decline. This is because shipments via Suez take 55...

In a filing with the Securities and Exchange Commission, Braskem said that its 'board of directors has approved filing for an out-of-court restructuring in order to negotiate $10.9 billion of unsecured debt. Braskem is Latin America's biggest petrochemical company. It has been struggling with a prolonged slump in the industry and a disaster at its salt mines?in northeastern Brazil. Both of these have severely weakened Braskem's cash position. Three sources, who spoke on condition of anonymity, said that the out-of court?restructuring proposal may include a subsequent share offering. This could pave the way for an external capital increase. Sources said...

The National Park Service reported that at least two people were killed, and up to 20 or more others are still unaccounted for, after flash floods struck the 'Grand Canyon' in Arizona on the weekend. This forced the helicopter evacuation of dozens hikers. The heavy rains of Saturday swept trails, footbridges, and other infrastructure away as a cascade mud, rocks, and debris washed through Bright Angel Creek. Bright Angel Creek is a major canyon that runs between the North Rim and the Colorado River. The National Park Service announced on Monday that two bodies had been recovered. One of the...

The National Park Service reported that one body was recovered after flash flooding occurred in Grand Canyon National Park on the weekend, and that recovery operations for a second were under way Monday. According to the National Park Service, heavy?rainfall on Saturday caused the canyon to flood, damaging trails and footbridges. It also damaged infrastructure that transports water throughout the park. 62 hikers were forced to be evacuated via helicopter by Sunday morning. Park officials reported that a body of 46-year old?man was?found? on Sunday. The NPS posted on X that "more than twenty individuals" may be missing or unaccounted...

Authorities said that the death toll from the catastrophic floods in Nepal and Tibet last week reached 750 people on Sunday, with another 3,044 still missing. Rescuers were forced to move to higher ground when rains swollen river levels. Rescue operations have been suspended a few times since Friday because of the bad weather. There are also concerns that a mudslide caused by Wednesday's collapsed glacier could cause fresh flooding in Nepal after a lake formed across a border between Nepal and China. According to Red Cross, more than 90 000 people may have been affected by this disaster. China...

China said on Sunday that 261 foreigners from 23 different countries were missing on the Tibetan border with Nepal after a mudslide which ripped through the Himalayan area. The death toll for Tibet is now 16 people. At a press briefing, officials from China's Tibet Autonomous Region stated that the largest number of foreigners missing was from Nepal, with 104. Also unaccounted for were 49 Indians, 33 Latvians, 18 Americans and 15 British nationals. Beijing authorities have informed foreign missions, they said. This was the first nationality breakdown from the Chinese since Wednesday's collapse of a ice sheet?released a torrent...

Matt Errico, sitting on his toilet in Colorado, heard noises. After a brief stare-off, they bolted out of the front door. After a?staring match, the two bears bolted from the front door. Errico had seen bears in his garbage before, but this was the first time. Errico, a small mountain town located about 57 miles (92 kilometers) northwest of Denver, said, "I've never heard of cubs being inside someone's home." Black bears have been spotted also in a Granby vapor shop. They are among the thousands of black bears that are heading to towns and cities in the U.S. West...

Nepal is in need of foreign assistance in areas such as search and rescue and specialised technical fields, which are not its expertise, following the devastating flood that struck its Himalayan border area with China last week. The collapse of a glacier on Wednesday released a torrent of rocks, ice, debris and mud into the Himalayan river systems. Nearly 600 people were killed in Nepal, China, Tibet, while more than 2,000 are still missing. Shisir khanal stated that Kathmandu needed foreign assistance in areas like rescuing people trapped in tunnels, opening communication and transport services where bridges were destroyed, identifying?dead...

An official with Nepal's Disaster?Management Authority confirmed that Nepal monitors two lakes a few miles upstream from the flood zone, where hundreds of people died on Wednesday. The official said that flood risks would continue until both lakes are completely drained. One of the lakes started overflowing Friday. Satellite images showed two lakes near the site of a glacier slide that pushed debris, rock, ice and mud into rivers on Wednesday. This caused flood waves which destroyed houses and destroyed bridges. A Chinese rescue team captured aerial footage of the formation of 'one of the two Lakes on Thursday. On...

The 'Red Cross' said that more than 90,000 people are directly affected by the Himalayan land slide and urgently need humanitarian assistance. Officials from the aid sector expressed their fears about further flooding. David Fisher, the head of the delegation of International Federation of Red Cross and Red Crescent Societies for Nepal, said at a Geneva press briefing: "We think that 93,000 people are affected, and they're in a lot of need." He added, "We are of course concerned about the second flood." Fisher stated that the organisation's trucks containing relief supplies had been?blocked by a lake? formed by the...

Narendra Pariyar said that the district's most senior bureaucrat, Narendra pariyar, received a notification on Friday saying that a lake had?broken it banks two days after flash flooding hit?the area. Both Nepal and China warned of new flood risks in the Himalayas after a lake formed across their borders due to debris from the flash flooding. He said that he could see the?water level in the river rising, but that it was unclear at this time how high the water level actually is. The authorities in Nepal have said that they will not be continuing rescue operations during the next...

As a result of the devastating flash flood that left hundreds dead and more than 1,000 people missing, countries and organizations around the world have started sending cash and relief supplies to 'Nepal. This is the list of all aid and assistance that has been announced and provided so far. China: China coordinated emergency supplies to Nepal and provided cash assistance, China's ambassador to Nepal stated in a social media post. India has dispatched nearly 50 metric tonnes of disaster relief supplies in two tranches. These include temporary shelters and blankets as well as hygiene kits, medicines and lamps. SOUTH...

Experts citing Planet Labs satellite images said that a deadly flash flood on Wednesday near Nepal's Tibet border may have been triggered by the lower part of a glacier breaking off and crashing on to the valley floor hundreds of meters below. The cause of the collapse was unclear, but Nepali officials pointed out that an earthquake had occurred in the area minutes earlier. Both sides are concerned that the number of deaths will far exceed the 100 bodies recovered so far. Nepal's government said that more than 300 travelers were missing. Satellite imagery from Planet Labs was reviewed by...

Friedrich Merz, Chancellor of Germany, vowed on Wednesday to revive the German Economy - and deliver growth of at 1% or more next year. This will be achieved through business-friendly reforms as well as a planned increase in government spending. Merz, who is also Finance Minister Lars Klingbeil's centre-left SPD junior partner, are trying to project unity. They have also denied suggestions that the government was divided and hindering efforts to turn around a downward trend in opinion polls. Merz, the leader of the conservative CDU, said that he was encouraged by his assessment that the government has the opportunity...