(Bloomberg) — What they see was an unprecedented number of executives share the stage with Elon Musk, who irked some shareholders by acquiring Twitter for $44 billion last year and funding the deal at least in part by selling billions of dollars worth of Tesla stock. Twitter didn’t come up at all during the roughly … Read more
“We believe that it’s going to destroy our tourism industry,” said Suzanne Hornick, a resident living in Ocean City, New Jersey, and a member of Protect Our Coast NJ. “When people come to Ocean City, they don’t want to look at an industrial park.” Meanwhile, companies developing the turbines argue that even on a clear day … Read more
Upwards of 2 inches of rain could drop suddenly in the valleys of Southern California Saturday into Sunday with up to 6 inches in coastal foothills and mountains, touching off floods and landslides, the US National Weather Service said. Then snow could fall by the foot in the Sierra Nevada range, as well as in … Read more
Meanwhile, Europe isn’t scrambling for crude. Russia’s invasion of Ukraine, which has stoked inflation, including for food and energy, has undermined European economies to the point where, as I suggested back in early November, the world can easily handle the loss of Russian barrels, at least for now.
(Bloomberg Businessweek) — Designing a new commercial aircraft requires huge financial outlays and years of engineering wizardry, and success isn’t assured, as the short-lived Airbus A380 jumbo can attest. Such missteps—the double-decker jet never recouped its $20 billion in development costs before being dropped in 2019—explain why the aerospace industry’s preferred route these days is … Read more
Damages from Ian are expected to range from $60 billion to $70 billion given the latest forecasts, according to Chuck Watson, a disaster modeler with Enki Research. That would make Ian the sixth-costliest US hurricane, below Ida’s $78.7 billion in 2021, according to data from the National Oceanic and Atmospheric Administration.