Speaking to the Financial Times, Gates says that he is already investing in early-stage companies that are working on battery storage, next-generation nuclear, solar-chemical power, high-wind power, and free air carbon capture, amounting to around 45 companies both directly and indirectly.
He believes that the onus falls on the government to spur greater innovation, saying that investment in green technology “should be like the Manhattan Project and the Apollo Project in the sense that the government should put in a serious amount of R&D.”
At the same time, Gates is unwilling to divest from fossil fuel companies — including BP — remarking that he “doesn’t see a direct path between divesting and solving climate change.”
ATHENS (Reuters) – Greece made last-minute overtures to its international creditors for aid on Tuesday, but it was not enough to save the country from imminent default on loans with the International Monetary Fund, people close to the negotiations said.
Greece has officially missed its payment to the IMF. Though this is not technically considered a “default” — the IMF now considers Greece “in arrears” — Greece has now officially not paid the 1.6 billion euros (or about $1.8 billion) it owed the IMF by Tuesday. IMF managing director Christine Lagarde, however, said in June that she would consider […]
One month ago, I offered up a predicted target for the year’s low on the Dow Jones Composite. We are spot-on so far, having fallen 3% from the original prediction. Here’s what I think we’re going to see over the next few months:
Bizjournals: June 30, 2015 8:23 pm San Francisco Business News - Local San Francisco News | The San Francisco Business Times
One of the world’s largest real estate developers, Shanghai-based Greenland Holding Group, is in talks to invest and build in the Bay Area for the first time, the company’s U.S. head told the San Francisco Business Times.
Greenland’s I-Fei Chang, who is overseeing $6 billion worth of development in the U.S., is looking for opportunities to park billions more. She said she travels to the Bay Area “biweekly” to meet with local companies and city officials about building the company’s third…
“You always want to keep focused on the long-term vision, yet when you go public you’re on a 90-day cadence and there’s a very public voting machine of the stock price that accelerates that short term thinking.”
The votes have definitely not been favorable. Shares of Twitter are down roughly 35 percent from their 52-week high.
Costolo took the social media company public and helped develop its advertising business. He noted in the interview that the service was still suffering from regular technical outages when he started, something that is no longer the case. And he said that the company has stuck to a “cohesive long term strategy” which includes many of the features that are gradually rolling out, including a new focus on live events such as sports.
Twitter co-founder Jack Dorsey starts on Wednesday as Twitter interim CEO — he’ll be doing double duty with his other full-time day job as the CEO of payment company Square. Twitter’s board meanwhile, is on the hunt for the company’s next permanent CEO.
Statement by the IMF on GreecePress Release No.15/310June 30, 2015 Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF), made the following statement today regarding Greece’s financial obligations to the IMF due today:“I confirm that the SDR 1.2 billion repayment (about EUR 1.5 billion) due by Greece to the IMF today has […]
Two Uber France managers have been ordered to stand trial on charges including “deceptive commercial practices” and complicity in illegal activities linked to its low-cost ride-hailing service, the Paris prosecutor’s office said Tuesday.
Thibaud Simphal and Pierre-Dimitri Gore-Coty were taken into custody on Monday after a police sweep at Uber France headquarters.
French authorities say UberPop is illegal and have expressed frustration that Uber doesn’t pay the same taxes and social charges as traditional taxis.
Taxi drivers staged a violence-marred strike last week, blocking many roads across France.
Online retail giant Amazon has opened its Mexico site for business, offering free delivery on orders of over $38.25.
Online shopping in Mexico has been limited, in part because of unreliable postal service and difficulties with home deliveries.
Amazon says customers in Mexico will also have the option of picking up their purchases from hundreds of locations across the country.
Consumer confidence showed a solid gain in June after a modest increase in May, supporting the view that strong job gains are giving a boost to the economy.
The Conference Board says its consumer confidence index rose to 101.4 in June, up from a May reading of 94.6.
Home prices increased at a solid clip in April, led by double-digit jumps in San Francisco and Denver.
[…] the continued gains are at roughly double the pace of wage growth, potentially pricing out many would-be buyers.
Prices in the Denver area climbed 10.3 percent, while home values in San Francisco rose 10 percent.
European officials have approved a series of sweeping changes to how mobile and wired Internet service works in the region, pushing through rules that outlaw mobile roaming charges and forbid providers from giving preferences to some types of online traffic.
The changes also outline how Internet service providers must treat data over their networks, forbidding broadband providers from slowing down any particular service.
Lawmakers say they want the new rules to foster greater economic activity in the European Union, which in many ways is still divided by national boundaries.
The auto parts seller Pep Boys appears to be looking for a buyer.
CEO Mike Odell resigned in September, and last month the company agreed to nominate three board members recommended by its biggest stockholder to avoid a proxy fight.
Pep Boys — Manny, Moe & Jack, with more than 800 locations in 35 states and Puerto Rico, said that its board is reviewing options to boost shareholder value, including a possible sale or merger.
From research funding to free lunches and junkets, drug and medical device companies paid doctors and hospitals nearly $6.5 billion last year, according to government data posted Tuesday.
Of the payments, $3.2 billion went toward research, about $2.6 billion was for miscellaneous items and $700 million represented investments and ownership stakes.
Drug companies often recruit doctors to help with clinical trials and other research.
About 80 percent of the money went to doctors, whose prescribing decisions affect the fortunes of pharmaceutical and medical device manufacturers.
[…] it also gives the sprawling airline a way to cut its sizeable greenhouse gas emissions, should the federal government require it.
“This agreement catapults United into a whole new level of commitment to the future of alternative fuels,” said Brett Hart, the airline’s executive vice president and corporate counsel.
In return, Fulcrum gets another major partner to help the small company leap the infamous “valley of death” between product development and full-scale production.
Cathay Pacific Airways invested an undisclosed sum in the company last year and signed a purchase agreement to buy 375 million gallons of Fulcrum’s fuel over 10 years.
After honing its technology at a pilot plant in North Carolina, Fulcrum is about to break ground on its first commercial facility 20 miles east of Reno.
The $200 million plant, backed by a $105 million loan guarantee from the U.S. Department of Agriculture, will produce 10 million gallons of fuel each year and will be located, in Macias’ words, “just down the road” from the Tesla Motors Gigafactory for electric-car batteries.
[…] in 2013, the airline signed an agreement with AltAir Fuels in Southern California to buy at least 15 million gallons of advanced biofuels for use on commercial flights from Los Angeles — another United hub.
The Obama administration announced in June its intent to develop greenhouse gas regulations for airlines, although any such rules would take years to implement.
Angela Foster-Rice, United’s managing director for environmental affairs, said airlines account for roughly 2 percent of the world’s greenhouse gas emissions.
By Wayne ColeSYDNEY (Reuters) – The euro remained on the defensive in Asia on Wednesday as Greece became the first developed economy to default on a loan with the IMF, setting the scene for another day of uneasy action in markets.Still, it surprised no one when the International Monetary Fund confirmed Greece had missed a […]
“I would like to know a unified theory of gravity and the other forces,” famed physicist Stephen Hawking posted. “Which of the big questions in science would you like to know the answer to and why?”
Via his response, here are the big questions that Zuckerberg ponders:
I’m most interested in questions about people. What will enable us to live forever? How do we cure all diseases? How does the brain work? How does learning work and how we can empower humans to learn a million times more? I’m also curious about whether there is a fundamental mathematical law underlying human social relationships that governs the balance of who and what we all care about. I bet there is.
These questions aren’t all together surprising from Zuckerberg: Before he dropped out of Harvard, he was a psychology major.
During the same Q&A, Zuck also spouted his thoughts on how people will use Facebook technologies in the future:
“One day, I believe we’ll be able to send full rich thoughts to each other directly using technology,” he wrote. “You’ll just be able to think of something and your friends will immediately be able to experience it too if you’d like. This would be the ultimate communication technology.”
He detoured though into a discussion on how Google could end up undercutting Uber’s reported revenue of $425 million by offering a service for free, although plans are under consideration:
“Google may very well beat them at their own game because they can get down to zero. They can take zero cut and offer a free app, which they are considering launching, called Free Ride, so this game could get very interesting,” Jurvetson said.
“So Google is going to launch something called Free Ride?” asked Bloomberg West’s Cory Johnson.
“They are considering it, they’re debating it,” Jurvetson replied. “They’re on the fence as to whether they should offer it, but the go to market would be: Offer the free app, get people used to it while they are still human drivers and then flip them over to the Google autonomous cars.”
Google also has a patent for an ad-powered taxi service, which sounds more like a Google business move than a ride-sharing one. Awarded in 2014, the patent is basically a free ride coupon to a retail location, and “autonomous vehicles” were listed as one of the transportation types.
We’ve reached out to Jurvetson and Google for more information on the program and will update if we hear back.
Hear Jurvetson bring up the “Free Ride” program at 4:30.
Greece continues to face economic problems amidst failed bailout negotiations. Here are 6 facts about the country’s precarious economy. Produced by Eames Yates. Original Reporting by Elena Holodny. Follow BI Video: On FacebookJoin the conversation about this story »
ATHENS (Reuters) – Greece made last-minute overtures to its international creditors for financial aid on Tuesday, but it was not enough to save the country from becoming the first developed economy to default on a loan with the International Monetary Fund.
Phil Knight, a middle-distance runner who teamed up with his track coach at Oregon to start a footwear and apparel company that made the Nike swoosh one of the most recognizable logos in the world, has announced plans to step down as company chairman.
The company was originally named Blue Ribbon Sports, but changed in 1978 to Nike — the winged goddess of victory in Greek mythology — on the advice of a friend.
Two years later, he paid $35 to Carolyn Davidson for the original swoosh logo design now plastered across the uniforms and shoes of athletes from the World Cup to Little League.
Building the brand through shrewd advertising campaigns and top-flight celebrity athlete endorsers like Michael Jordan and Tiger Woods, he turned the company into what Forbes called the “most valuable sports brand in the world.”
Argus Feed: June 30, 2015 7:20 pm ABQJournal Online » Business » Albuquerque Journal News