Energy
GE reveals new company names as it approaches historic split
People visit the General Electric stand during the China International Import Expo (CIIE) at the National Exhibition and Convention Center on November 7, 2018 in Shanghai, China. VCG | Getty Images General Electric on Monday revealed the names of the three distinct companies that will result from the conglomerate’s historic split: GE HealthCare, GE Aerospace […]
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Trudeau, Zelenskyy talk turbines as Ukrainian supporters ready to protest
Ukraine’s President Volodymyr Zelenskyy attends the NATO summit via video link, as Russia’s attack on Ukraine continues, in Kyiv, Ukraine June 29, 2022. Ukrainian Presidential Press Service | via Reuters Ukraine President Volodymyr Zelenskyy told Prime Minister Justin Trudeau Sunday that his stance on sanctions against Russia “must be principled” at a time when relations […]
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From $25 billion to $167 million: How a major crypto lender collapsed and dragged many investors down with it
Celsius filing for bankruptcy this week surprised virtually no one. Once a platform freezes customer assets, it’s typically all over. But just because the fall of this embattled crypto lender didn’t come as a shock, doesn’t mean it wasn’t a really big deal for the industry. In October 2021, CEO Alex Mashinsky said the crypto […]
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Germany’s increased coal, oil use will be temporary, Scholz says
Chancellor Olaf Scholz said Germany is looking to create closer ties with countries that share its values, naming Japan and India, among others. Lisi Niesner | Reuters Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war in Ukraine is only temporary and his […]
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Biden says the U.S. ‘will not walk away’ from Middle East
President Joe Biden, speaking at a summit of Arab leaders, said Saturday that the United States “will not walk away” from the Middle East as he tries to ensure stability in a volatile corner of the globe and boost the worldwide flow of oil to reverse rising gas prices. His remarks, delivered at the Gulf […]
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Solar stocks sink as Senator Manchin says he won’t support climate bill
Sunrun installer putting up solar electric panels on a residential rooftop in California. Source: Sunrun Solar stocks tumbled Friday after Sen. Joe Manchin said he will not support increased spending to address climate change, according to NBC News, citing a Democrat briefed on the conversations. The Invesco Solar ETF, which tracks the industry, was down […]
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UK issues ‘Red Extreme’ heat warning as parts of country brace for temperature surge
An office worker carries a large fan in central London on July 12, 2022. On Friday, the Met Office issued a Red Extreme heat warning for parts of the country. Yui Mok | PA Images | Getty Images The U.K. on Friday issued a “Red Extreme” heat warning, with authorities saying temperatures could potentially hit […]
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How two college friends launched a company that has helped save 32 terawatt hours of energy and more than $3 billion in energy bills
The founders of Opower, Daniel Yates and Alex Laskey. Brooks Kraft | Corbis News | Getty Images In this weekly series, CNBC takes a look at companies that made the inaugural Disruptor 50 list, 10 years later. Before Alex Laskey launched an energy efficiency company in 2007, he was primarily working on political campaigns, “almost […]
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Inflation is still soaring — but here’s why it’s less likely to hurt some retirees
Inflation has continued to rise, but some retirees won’t feel the brunt of many soaring costs, experts say. Annual inflation jumped by 9.1% in June, growing at the fastest pace since late 1981, the U.S. Department of Labor reported Wednesday. Higher prices have many worried, even those earning six figures. Some 65% of Americans making […]
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New York judge freezes assets of Three Arrows Capital as crypto firm’s founders remain underground
A federal judge in a New York bankruptcy court has frozen the remaining assets of crypto hedge fund Three Arrows Capital following the firm’s rapid fall from prominence. The fund, founded nearly a decade ago, managed $10 billion in assets just a few months ago. Now, its two co-founders are in hiding from angry creditors, […]
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