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Mission bankruptcy underscores coal’s long-term decline

first_img FacebookTwitterLinkedInEmailPrint分享CBS News:A Tennessee coal mining company that filed for bankruptcy this week is the second coal company to go bankrupt during Donald Trump’s pro-coal presidency. It’s also the fifth U.S. coal industry bankruptcy in the last three years as competitors in the energy market continue to drive coal into the dust pile.Mission Coal, an operator of three mines in West Virginia and one in Alabama, filed for Chapter 11 bankruptcy protection on Sunday listing about $175 million in debt and just $55,000 cash on hand, according to court filings. This small company joins Colorado-based Westmoreland Coal, one of the country’s oldest coal companies, which filed for bankruptcy earlier this month, and Peabody Energy, Arch Coal and Alpha Natural Resources, which all have ended up in bankruptcy courts since 2015.Competition from other energy sources—super-cheap natural gas in particular—has been the main culprit. Obama-era “clean coal” regulations scuttled earlier this year by the Trump administration has played just a small role in the industry’s collapse, experts say.“Coal plants have been losing market share just on competitiveness alone, to natural gas, for quite some time–even before the EPA regulations came down that accelerated the shutdown of even more plants,” Greg Reed, director of the Center for Energy and the GRID Institute at the University of Pittsburgh, told CBS MoneyWatch recently.The total stock market value of the country’s four largest coal producers has plunged to $6.3 billion today from $33 billion in 2011. About 62,000 coal miners have lost their jobs during that time. Further job losses will come: More than a quarter of the U.S.’ current fleet of coal plants is projected to shut down over the next 12 years, according to one analysis.More: Mission Coal files for bankruptcy—5th coal company in 3 years Mission bankruptcy underscores coal’s long-term declinelast_img read more

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Fitch sees renewables becoming Western Europe’s top power source by 2023

first_imgFitch sees renewables becoming Western Europe’s top power source by 2023 FacebookTwitterLinkedInEmailPrint分享Recharge:Western Europe will spearhead the transition to non-hydropower renewables, which will become the region’s predominant power source by 2023, Fitch Solutions said in an update to its 10-year global renewable energy outlook.“We expect the region’s total non-hydropower renewables capacity will grow by more than 330GW between 2020 and 2029 to reach nearly 1TW of capacity, almost equivalent to the total thermal capacity expected in 2029,” the analysts said.Non-hydro renewables according to Fitch Solution’s estimate are slated to make up 31% of total generation in Western Europe.The analysts said the detrimental impact of the Covid-19 pandemic in the short term will disrupt non-hydro renewables growth. But an expected recovery after this year actually presents greater opportunities for investment in solar and wind power as their lower costs and more rapid deployment characteristics will prove attractive to both private investors and governments seeking to maintain power sector growth over the medium term.On a global scale, the renewables sector will expand from over 1.3TW by the end of 2019 to more than 2.6TW ten years later, when 18% of the world’s generation are expected to come from renewable sources. That growth will be mainly driven by China, which is seen making up 42% of global non-hydro renewables additions in the ten-year period.[Bernd Radowitz]More: Renewables to become Western Europe’s main power source by 2023: Fitch Solutionslast_img read more

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US Sanctions Six Tankers For Shipping Oil From Venezuela To Cuba

first_imgBy AFP December 06, 2019 On December 3, the United States imposed economic sanctions on six ships for transporting oil from Venezuela to Cuba, as part of Washington’s campaign to force out Venezuelan ruler Nicolás Maduro, whose government the United States considers to be a dictatorship.The U.S. Department of the Treasury said that six ships belonging to state-owned company Petróleos de Venezuela S. A. (PDVSA) that had been included in the Office of Foreign Assets Control’s (OFAC) blacklist, banning them from engaging in any transaction with U.S. individuals or entities.It also identified another vessel, the Esperanza, as property of Caroil Transport Marine Ltd., based in Havana, which was sanctioned in September. OFAC had designated the Esperanza in April, when it was under the name of Nedas, the Department of the Treasury said in a press release.“While the Venezuelan people continue to take to the streets to demand basic services and a return to freedom and prosperity, Maduro chooses to ship a vital natural resource to Cuba in exchange for Cuban security and intelligence services that preserve his influence in Venezuela,” said U.S. Secretary of State Mike Pompeo.“Cuba continues to prop up Nicolás Maduro, subverting the Venezuelan people’s right to self-determination and undermining Venezuelan institutions,” Pompeo added, promising that the United States would continue to hold Cuba responsible for its actions concerning Venezuela.Washington, which does not recognize the Maduro government because it considers his re-election a sham, accuses Havana of being one of Maduro’s main allies. Maduro also clings to power with the support of Russia and China, despite the open challenge from Juan Guaidó, president of the National Assembly, whom the United States and more than 50 other nations recognize as interim president since January.“I denounce new illicit and non-conventional actions from the U.S. government aimed at depriving Cuba of oil supplies,” Cuban Minister of Foreign Affairs Bruno Rodríguez said on Twitter.“Those are gangster-like practices of threats and punishments against legitimate commercial relations between sovereign States. Cuba continues to fight on,” he added. These measures have strained the supply of fuel on the island.The sanctions, in addition to several punitive measures that the Donald Trump administration has imposed since 2017 against Venezuelan and Cuban officials, former officials, and entities, intend to show how Maduro supplies oil to the “Cuban dictatorship” while Venezuelans “are starving,” said the Treasury.The six designated vessels are Ícaro, Luisa Cáceres de Arismendi, Manuela Sáenz, Paramaconi, Terepaima, and Yare.Since September, PDVSA has billed Cubametales — the Cuban state-run oil import and export company that OFAC blacklisted in July — for about 1.3 million fuel oil barrels that were delivered three months earlier, the Treasury said. The money received for these shipments was to be transferred to a Russian bank account, it said.Elliott Abrahams, U.S. special representative for Venezuela, said on November 27 that the Maduro administration had sent an oil shipment to Cuba valued at $900 million.last_img read more

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Samsung Exynos 1080 5nm Mobile Processor With 5G, Up to 200-Megapixel Camera Sensor Support Launched

first_imgSamsung Exynos 1080 mobile processor has been unveiled as a 5nm EUV process-based chip with 5G support. It is an octa-core processor with a 4+3+1 core configuration and comes with support for high refresh rate displays. The Exynos 1080 SoC can support up to a 200-megapixel camera sensor and as of now, it is unclear which smartphone will debut with this new SoC. Being a 5nm-based processor, it joins the likes of Apple’s A14 and Huawei’s Kirin 9000, but is a mid-range SoC.Samsung Exynos 1080 specificationsThe octa-core Exynos 1080 by Samsung follows the 4+3+1 core configuration that includes four Cortex-A55 cores clocked at 2.0GHz, three Cortex-A78 cores clocked at 2.6GHz, and one Cortex-A78 core clocked at 2.8GHz. The processor also includes the Mali-G78 MP10 GPU to handle graphics.- Advertisement – The SoC includes an onboard neural processing unit (NPU) and digital signal processor (DSP) that allow the Exynos 1080 to run 5.7 trillion operations per second. It also comes with support for faster and more secure on-device AI.For connectivity, Exynos 1080 supports 5G NR Sub-6GHz, 5G NR mmWave, LTE, Wi-Fi (802.11ax), Bluetooth 5.2, and FM Radio. You also get the standard GPS, GLONASS, BeiDou, and Galileo support. In terms of memory and storage, Exynos 1080 supports LPDDR5 and LPDDR4x RAM, as well as UFS 3.1 storage.For display support, the new SoC is compatible with HDR10+ and can handle WQHD displays with up to 90Hz refresh rate. It can also support full-HD displays with up to 144Hz refresh rate. Exynos 1080 can also handle a single-camera setup with up to a 200-megapixel sensor and dual-camera setup where both sensors are 32-megapixel. It is capable of processing 4K video at HEVC (H.265)/ H.264/ VP8/ VP9 (10 bit only with HEVC and VP9) at 60fps.- Advertisement – – Advertisement –center_img Samsung has not shared which phone will debut with Exynos 1080, but it was reported earlier this month that the Galaxy S21 series will not feature the new mobile processor. Another recent report suggests that the upcoming Vivo X60 and Vivo X60 Pro smartphones will be powered by the Exynos 1080.Which is the best TV under Rs. 25,000? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.Affiliate links may be automatically generated – see our ethics statement for details.last_img read more

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Boeing reports big loss, signals more job cuts

first_imgTopics : MAX deliveries pushed backThe company reported a $2.4 billion loss in the quarter ending June 30 as revenues plunged 25 percent to $11.8 billion.The hit from coronavirus has prolonged and worsened Boeing’s slump due to the crisis surrounding the 737 MAX, which was grounded globally in March 2019 following two deadly crashes.Boeing said it was making “steady progress” towards getting the MAX recertified to fly, after the Federal Aviation Administration completed test flights earlier this month. That process, too, was delayed by the pandemic.Calhoun said the company was targeting the resumption of commercial deliveries following regulatory approval in the fourth quarter, shifting back the timeframe from the third quarter.The company resumed some activity on the MAX in May after completely halting work for a few months, but on Wednesday slowed the production ramp-up plans.Boeing said it planned to gradually increase output of the aircraft to 31 a month at the beginning of 2022, a delay from the earlier plan to hit that level in 2021, and a far cry from the 57 per-month target for 2020 before the coronavirus disruption.The Boeing chief also lowered the output plans for the 777 and the 787 jets.Executives told financial analysts on a conference call they were rethinking all operations with an eye towards lower costs. To that end, Boeing is considering consolidating all its 787 production to one factory; at present, the 787 is built in both Washington state and South Carolina.During a subsequent phone call with reporters, Calhoun said the company was at an early stage of the review. Calhoun, in an interview with CNBC, said the latest surge in US coronavirus cases made the near-term travel outlook “more difficult” because airlines that had added flights amid a brief uptick in interest are now cutting back. But there also was “more optimism about a vaccine” for COVID-19 sometime in 2021, which would support an industry recovery, he said.Calhoun said he still thinks it will be about three years before the industry recovers to pre-coronavirus levels. “Regretfully, the prolonged impact of COVID-19 causing further reductions in our production rates and lower demand for commercial services means we’ll have to further assess the size of our workforce,” Chief Executive Dave Calhoun said in a message to employees.”This is difficult news, and I know it adds uncertainty during an already challenging time. We will try to limit the impact on our people as much as possible going forward.”The results underscored anew the battered state of commercial aviation following lockdowns and travel restrictions imposed to limit the spread of the coronavirus. It comes on the heels of deep losses by leading US carriers that have announced belt-tightening plans of their own that will remove tens of thousands of jobs.Airlines have canceled orders, suspended deliveries and deferred maintenance. Boeing delivered just 20 planes during the quarter, down from 90 in the year-ago period. center_img Boeing suffered a bigger-than-expected loss in the latest quarter, the company announced Wednesday, and signaled additional job cuts are likely as it contends with a protracted air travel downturn amid the coronavirus pandemic.The aerospace giant, which previously suspended the dividend for shareholders and announced a 10 percent staff downsizing, also said it would phase out production of the iconic 747 jumbo jet and ratchet back production plans on other commercial aircraft due to the weak outlook.Those moves are expected to lead to further job cuts. ‘Emotional’ 747 decision In the CNBC interview, Calhoun said ending production of the 747 in 2022 was an “emotional decision for everyone” at Boeing, but commercial needs necessitated the move.”This is just us facing reality,” he told CNBC. “Our customers want the new technology.”But he said the company would continue to service the 747s already on the market for decades into the future.While Boeing’s commercial plane business has been battered by COVID-19, the company reported flat revenues from its defense and space business compared with the year-ago period.Calhoun said these programs ensured “some critical stability for us in the near-term as we take tough but necessary steps to adapt for new market realities,” according to a Boeing earnings release.He told CNBC he does not expect to need additional financing following a $25 billion bond offering earlier this spring that is expected to provide enough cash to get through the downturn.The company’s share price initially gained ground, but then retreated and finished 2.8 percent lower at $166.last_img read more

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Australia’s COVID-19 epicenter extends hard lockdown till late September

first_imgTopics : If the infection rate subsides as hoped by the end of September, Andrews said restrictions would be relaxed gradually over the subsequent two months, though some businesses would have to remain shut through late November.Andrews said modelling showed cases would continue to average around 60 a day by next weekend, and if the state opened up too quickly it would be on track for a third wave by mid-November.”You’ve got to defeat the second wave and do it properly. Otherwise you just begin a third wave. A third wave will mean we can’t do the economic repair that people desperately want us to do,” Andrews said.The federal government has blamed the lockdown in Victoria for dragging Australia deeper into its first recession in nearly 30 years, while other states have largely reopened their economies.”Today’s announcement from the Victorian government to extend lockdown arrangements will be hard and crushing news for the people of Victoria and a further reminder of the impact and costs that result from not being able to contain outbreaks of COVID-19,” Prime Minister Scott Morrison said in a statement.The pandemic has resulted in the loss of around 500,000 jobs in Victoria, including 250,000 under the stage 4 restrictions.Business groups were disappointed with the slow reopening outlined by Andrews.”We can’t continue to let business and jobs be decimated on the way to controlling the spread of the virus,” Victoria Chamber of Commerce and Industry chief Paul Guerra told reporters.After Sept. 28, if daily infection rates have dropped to between 30 and 50 for 14 days, child care, construction sites, manufacturing plants, and warehouses, will go back to normal, allowing 101,000 workers to return to their jobs.Schools will also partially reopen and outdoor gatherings of up to five people would be allowed.After Oct. 26, if daily cases have dropped below five, cafes and restaurants could reopen, mostly for outdoor service, and shops and hairdressers would reopen.At the same time, the curfew would be lifted, with no limits on leaving home, outdoor gatherings could increase to 10 and homes would be able to have five visitors.After Nov. 23, cafes, bars and restaurants could have more people indoors, schools could reopen more fully, museums and other entertainment venues could reopen, and larger gatherings would be allowed.Restrictions in regional Victoria will ease from Sept. 14. Australia’s second most populous state has been the epicenter of a second wave of the novel coronavirus, now accounting for about 75% of the country’s 26,282 cases and 90% of its 753 deaths.Victoria on Sunday reported 63 new COVID-19 infections and five deaths, down from a peak of 725 new cases on Aug. 5. By contrast, Australia’s most populous state, New South Wales, has had no more than 13 cases a day since early August.Melbourne’s stage 4 restrictions, which had been due to end on Sept. 13, shut most of the economy, limited people’s movements to a tight zone around their homes for one hour a day and imposed a night time curfew.From Sept. 14, the rules won’t be quite as tough, as the curfew will begin an hour later at 9 p.m, and people can go outdoors for two hours instead of one, while those living alone will be allowed to have a visitor.center_img Australia’s coronavirus hot spot state of Victoria on Sunday extended a hard lockdown in its capital Melbourne until Sept. 28, as the infection rate has declined more slowly than hoped.”We cannot open up at this time. If we were to we would lose control very quickly,” State Premier Daniel Andrews told a televised media conference on Sunday.The hard lockdown was ordered on Aug. 2 in response to a second wave of infections, that erupted in Melbourne.last_img read more

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Dayot Upamecano responds to Arsenal transfer speculation ahead of Tottenham clash

first_img Metro Sport ReporterWednesday 19 Feb 2020 8:18 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link2kShares Comment Advertisement Mourinho looks ahead to RB Leipzig match without a recognised strikerTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 12:13FullscreenMourinho looks ahead to RB Leipzig match without a recognised striker is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.‘I will speak with my agents and my parents at the end of the season and we will make the right decision.’Bayern Munich and Barcelona, meanwhile, are likely to rival Arsenal for Upamecano with their respective stalwarts, Jerome Boateng and Gerard Pique, nearing the end of their careers.Upamecano’s task this evening has been rendered slightly easier given the absence of Harry Kane and Heung-Min Son, with the South Korea international unlikely to play again this season following confirmation of an elbow injury.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal‘If he plays two or three games then it’s because he [Tottenham’s press officer] is very optimistic, and I hope he is right. But, in my mind, I’m not thinking about that,’ said Jose Mourinho at his pre-match press conference.‘We are going to miss him. The club wrote a nice statement. If I was the one to write the statement, I would write different.’MORE: Arsenal legend Paul Merson blasts Chelsea forward Michy Batshuayi after Man Utd defeatMORE: Ray Parlour sends message to Arsenal over Bukayo Saka amid Manchester United and Liverpool links Dayot Upamecano has been linked with a summer transfer to Arsenal (Picture: Getty)Dayot Upamecano has admitted he is aware of interest from ‘several clubs’ amid speculation he has been marked out a primary transfer target for Arsenal.Mikel Arteta side have recorded rare back-back-back clean sheets and strengthened their defence in the January window with the loan signings of Cedric Soares and Pablo Mari.Despite the recent improvement, Arsenal remain focused on strengthening their rearguard in the summer and France Under-21 international Upamecano has been regularly linked with a move to the Gunners.Upamecano has just 18 months remaining on his current contract, which contains a £50million release clause, and has a chance to impress his potential suitors when RB Leipzig take on Spurs in their Champions League last 16 first leg tie this evening.AdvertisementAdvertisementADVERTISEMENTSpeaking ahead of arguably the biggest fixture in the Bundeliga club’s recent history, he said: ‘There are several clubs that want me. Dayot Upamecano responds to Arsenal transfer speculation ahead of Tottenham clash Advertisementlast_img read more

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Pep Guardiola contacts former Arsenal flop as Man City prepare €50m bid

first_imgIsmael Bennacer made just one senior appearance during his time at Arsenal (Picture: Getty)According to RMC, Guardiola has already spoken to the 22-year-old and outlined his vision for the player, who could team up with his compatriot Riyad Mahrez at the Etihad Stadium.Despite failing to make an impact at Arsenal, Bennacer harbours no ill feeling towards his former club and earlier this week credited the likes of Mesut Ozil and Santi Cazorla with having a major impact on his career.‘I arrived in England in July 2015, then stayed in a hotel for the first two months because I didn’t want to live with a family I didn’t know,’ he told La Gazzetta dello Sport magazine Sportweek.‘I was 17 years old and couldn’t live on my own, so my sister came to live with me, then the girl I’d been dating since school who in England would go on to become my wife.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal‘Finally, in September, I got some time on the pitch, but I was thrown on after two other injuries against Sheffield, played wide left in a trident attack, which I had never done before. I felt incredible pressure and wasn’t sure what was going on.‘I never played again after that, but I have no regrets, as I still got to train with important players like Mesut Ozil and Santi Cazorla. I had four years left on the Arsenal contract, but I had to be at a club where they really wanted me.‘I didn’t know Empoli, but I accepted a move down from the Premier League to Serie B because they were the club who wanted me the most. I did the same when deciding on Milan – I chose them for their history too, but also because it was the best project for me.’MORE: Chelsea’s chances of signing Pierre-Emerick Aubameyang from Arsenal rated by Craig BurleyMORE: Ian Wright was late for training ‘every single day’ at Arsenal, claims Tony AdamsAdvertisementAdvertisementFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. Pep Guardiola contacts former Arsenal flop as Man City prepare €50m bid Advertisement Man City boss Pep Guardiola is already making plans ahead of this summer’s transfer window (Picture: Getty)Pep Guardiola has contacted Milan midfielder Ismael Bennacer with Manchester City primed to launch a €50million bid. The Algeria international has resurrected his career in Serie after he failed to make the grade during the course of a two-year spell in north London with Arsenal.Indeed, Bennacer made just a solitary senior appearance during a League Cup defeat at Sheffield Wednesday before he was loaned out to Tours by Arsene Wenger. The gifted playmaker subsequently moved to and excelled at Empoli last season and earned himself a move to San Siro where he has enjoyed another reputation enhancing campaign, despite Milan’s struggles.AdvertisementAdvertisementADVERTISEMENTCity are on the brink of surrendering their Premier League title to Liverpool and although their spending power might be limited this summer, Guardiola is already making plans to rebuild a squad capable of challenging Jurgen Klopp’s relentless winning machine. Comment Metro Sport ReporterWednesday 3 Jun 2020 11:30 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link2.8kShares Advertisementlast_img read more

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Reliable child abuse measure vital for NZ

first_imgSunday Star Times 1 July 2012New Zealand’s child abuse record is brutally laid bare in one of the most comprehensive releases of Government data on the nation’s bruised and broken children. There are 22,000 substantiated child abuse cases each year, resulting in around 1000 prosecutions and 128 recorded hospital admissions. One expert says child abuse rates are not falling and it’s time we developed reliable measures to quantify the horrific harm suffered by children. The child abuse rates, prosecutions and hospital admission figures – released under the Official Information Act – highlight stark differences in reporting. A number of hospitals are failing to record suspected rates of child abuse, while other hospitals have been accused of pointing the finger at innocent parents…CYF figures show a sharp increase in child abuse, from 19,596 to 22,087 in the past three years. There were 1126 cases of substantiated sexual abuse in 2009, jumping to 3225 in 2011. About half of all abuse is classified as emotional.CYF FIGURESSubstantiated abuse         2009     2010     2011Emotional                         10,938    12,532   12,595Physical                              2,855      2,884     3,225Sexual                                 1,126      1,201     1,501Neglect                               4,677      4,403     4,762Total                              19,596   21.020   22,087POLICE FIGURESChild abuse convictions   2009       2010       2011                                              838        963       1055 read more

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Saudi Arabia bars entry for pilgrims over coronavirus

first_imgDUBAI – Saudi Arabia on Thursdaysuspended visas for visits to Islam’s holiest sites for the “umrah”pilgrimage, an unprecedented move triggered by coronavirus fears that raisesquestions over the annual hajj. The kingdom, which hosts millions ofpilgrims every year in the cities of Mecca and Medina, also suspended visas fortourists from countries with reported infections as fears of a pandemic deepen. Muslims pilgrims gather outside the door of the Kaaba, Islam’s holiest shrine, in Mecca, Saudi Arabia. AFPcenter_img Saudi Arabia, which so far has reportedno cases of the virus but has expressed alarm over its spread in neighbouringcountries, said the suspensions were temporary. It provided no timeframe forwhen they will be lifted. (AFP)last_img

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