16 Aug 2018

Uber’s Losses Mount at Self-Driving Car Unit

15%-30% of Uber’s quarterly losses are due to the company’s self-driving car unit over the past year and a half, as the company has spent over $2 billion on the program that has not yet been able to achieve commercial success. Some investors are now pushing the company to cut

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14 Aug 2018

List: 100 largest defense firms around the world

Organized by annual revenue, the list of the largest defense firms in the world is topped by Lockheed Martin, Raytheon, BAE Systems, Northrop Grumman, and Boeing.  Source: The list is here: The largest defense companies on the globe, revealed

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14 Aug 2018

Spending speed bumps hit China’s massive Belt and Road project

“It was always going to be about the numbers. In the first half of 2018, China’s foreign direct investment in the Belt and Road Initiative dropped 15% compared to the same period last year. Spending edged down to US$7.68 billion, which was 12.3% of total FDI from January to June,

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13 Aug 2018

World Bank to issue the first ‘blockchain bond’

The World Bank is arranging the financial industry’s first ‘blockchain bond,’ which will become available later this month and is slated to raise about $70 million. The bank is using it for its potential to streamline processes that are otherwise split between many different actors. The bank announced that the

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13 Aug 2018

Russia says will ditch U.S. securities amid sanctions

Russia announced plans to sell off its holdings in U.S. securities, responding to U.S. sanctions over Moscow’s alleged poisoning of a former agent and his daughter in the UK. The Russian ruble has fallen to a two-year low, and the Russian Prime Minister declared that any U.S. attempt to influence

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07 Aug 2018

China Southern Power Grid buys share of European utility

“State-owned China Southern Power Grid has acquired a 25.48% stake in the Luxembourg utility company Encevo S.A., following its acquisition of a 27.8% stake in Chile’s largest transmission enterprise in March, The Paper reported. Encevo currently operates more than 10,150 km of transmission lines and more than 3,700 km of

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07 Aug 2018

Power Worth Less Than Zero Spreads as Green Energy Floods the Grid

“With wind and solar farms sprouting up in more areas — and their power getting priority to feed into the grid in many places — the amount of electricity being generated is outstripping demand during certain hours of the day. The result: power prices are slipping to zero or even

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06 Aug 2018

China Is Blaming Canada For Its Cannabis Problem But Is Producing 50% Of The World’s Supply

China is blaming Canada for importing large amounts of marijuana illegally into the country. China, however, produces 50% of the world’s supply of cannabis, largely non-psychotropic varieties used for hemp production. China also boasts most of the world’s cannabis-related patents. It also produces a significant, although generally unknown, amount of cannabis

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06 Aug 2018

Here are the Iran sanctions returning today

Trump’s withdrawal from the nuclear deal by executive order included the reimposition of a number of sanctions on August 6th, while the remaining sanctions will return in the coming months. The sanctions to be re-instated today include Iran’s acquisition of gold, precious metals, and U.S. currency, as well as their

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06 Aug 2018

Here’s How America Uses Its Land – Infographic Breakdown

The U.S. economy is the largest in the world and expanded at a rate of 4.1% last quarter. But how is the vast expanse of land from the East Coast to the West Coast used according to U.S. Department of Agriculture categories? The following series of infographics explores the relationships

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