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Hedge Funds Slash Oil Futures Positions Amid Slowing Demand and Rising Supply Concerns
06 Sep 2024

Hedge Funds Slash Oil Futures Positions Amid Slowing Demand and Rising Supply Concerns

Hedge funds and portfolio managers have significantly reduced their long positions in oil futures over the past two months, driven by concerns about slowing global demand and rising supply.
AI likely to weigh on oil prices over the next decade, Goldman says

AI likely to weigh on oil prices over the next decade, Goldman says

04 Sep 2024
Artificial intelligence could hurt oil prices over the next decade by boosting supply by potentially reducing costs via improved logistics and increasing the amount of profitably recoverable resources, Goldman Sachs said on Tuesday.
Meta Platforms strikes geothermal energy deal to power US data centers

Meta Platforms strikes geothermal energy deal to power US data centers

27 Aug 2024
Facebook owner Meta Platforms struck a deal to buy geothermal power from Sage Geosystems to supply its U.S. data centers, it said on Monday, as it races to build out the infrastructure to support its massive investments in energy-hungry artificial intelligence. 
Chevron to invest about $989 million in India, state minister says

Chevron to invest about $989 million in India, state minister says

22 Aug 2024
Chevron plans to invest 83 billion rupees ($989.20 million) in India’s Bengaluru, in what will be the oil and gas firm’s largest tech center outside the United States, a minister with the state government of Karnataka said late Wednesday.
Chipmaker Texas Instruments to receive up to $1.6 billion in funding from US

Chipmaker Texas Instruments to receive up to $1.6 billion in funding from US

19 Aug 2024
Texas Instruments said on Friday it would receive up to $1.6 billion in funding from the U.S. Commerce Department towards the construction of three new facilities, the latest government outlay aimed at bolstering domestic chip production.
India's Ola Electric soars to $7 billion valuation on e-motorcycle launch, battery plan
16 Aug 2024

India's Ola Electric soars to $7 billion valuation on e-motorcycle launch, battery plan

India’s top e-scooter maker Ola Electric Mobility surged 20% on Friday to reach a valuation of 586.64 billion rupees ($6.99 billion), after it launched a new line of motorcycles and on bets it will lower costs by using its own batteries.
Japan's Nissan, Honda to jointly research software, start talks with Mitsubishi

Japan's Nissan, Honda to jointly research software, start talks with Mitsubishi

02 Aug 2024
Japanese automakers Nissan Motor and Honda Motor have agreed to conduct joint research into technologies for a next-generation software platform, they said in a joint statement on Thursday.
Shanghai launches $13.8 billion in funds to boost integrated circuit, biomedicine, AI sectors

Shanghai launches $13.8 billion in funds to boost integrated circuit, biomedicine, AI sectors

29 Jul 2024
China’s commercial hub Shanghai on Friday announced 100 billion yuan ($13.79 billion) in funds to boost its integrated circuit, biomedicine and artificial intelligence (AI) industries.
TotalEnergies, SSE to launch EV charging company in UK and Ireland

TotalEnergies, SSE to launch EV charging company in UK and Ireland

16 Jul 2024
French oil major TotalEnergies and UK power firm SSE are seeking to grab a 20% share of the electric vehicle (EV) fast-charging market in Britain and Ireland by launching a joint venture named Source, the companies said on Tuesday.
Germany in deal to cut Huawei's role in 5G wireless network, sources say

Germany in deal to cut Huawei's role in 5G wireless network, sources say

11 Jul 2024
The German government and mobile phone carriers have agreed in principle on steps to phase components by Chinese technology companies out of the nation’s 5G wireless network over the next five years, two people familiar with the matter told Reuters on Wednesday.
Factbox-How China's EV battery makers stack up in energy storage
08 Jul 2024

Factbox-How China's EV battery makers stack up in energy storage

China’s EV battery giants CATL and BYD are eyeing the growing market for stationary energy storage.  
SoftBank has discussed energy project funding with banks, The Information reports

SoftBank has discussed energy project funding with banks, The Information reports

05 Jul 2024
Japanese technology investor SoftBank Group has recently talked with banks about borrowing money to invest up to $10 billion in energy-related projects, The Information reported on Thursday.
AI frenzy expected to have boosted Samsung Q2 profit 13-fold

AI frenzy expected to have boosted Samsung Q2 profit 13-fold

04 Jul 2024
Samsung Electronics is expected to post a 13-fold  increase in second-quarter profit from a year earlier as demand for artificial intelligence technology fuels a rebound in memory chip prices.
Google buys stake in Taiwan solar power firm owned by BlackRock

Google buys stake in Taiwan solar power firm owned by BlackRock

01 Jul 2024
Google said it has taken a stake in Taiwan’s New Green Power and could buy up to 300 megawatts of renewable energy from the BlackRock fund-owned firm to help cut its carbon emissions and those of suppliers.
AI can help shipping industry cut down emissions, report says

AI can help shipping industry cut down emissions, report says

18 Jun 2024
The global commercial shipping industry could cut down its carbon emissions by 47 million tonnes per year by deploying artificial intelligence for sea navigation, a study by autonomous shipping startup Orca AI showed on Tuesday.

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