GM is struggling so much in China, it had to announce massive charges to fix its business | CNN Business

December 5, 2024December 4, 2024 ~ knjohn ~ Leave a comment

China, once GM’s largest and most important market, has become its biggest problem.

General Motors told shareholders on Wednesday that it would record two non-cash charges totaling more than $5 billion on its joint venture in China, one related to the restructuring of the operation and another reflecting its reduced value.

GM expects the charge for restructuring costs to be $2.6 to $2.9 billion and the charge for reduced joint-venture value to be $2.7 billion.

The automaker’s shares were down 2.7% before the bell.

GM partners with SAIC Motors in China to build Buick, Chevrolet and Cadillac vehicles.

12 strange reasons humans haven’t found alien life yet | Live Science

December 4, 2024December 3, 2024 ~ knjohn ~ Leave a comment

One night about 60 years ago, physicist Enrico Fermi looked up into the sky and asked, “Where is everybody?”

He was talking about aliens.

Today, scientists know that there are millions, perhaps billions of planets in the universe that could sustain life. So, in the long history of everything, why hasn’t any of this life made it far enough into space to shake hands (or claws … or tentacles) with humans?

It could be that the universe is just too big to traverse. It could be that the aliens are deliberately ignoring us. It could even be that every growing civilization is irrevocably doomed to destroy itself (something to look forward to, fellow Earthlings).

Coffee prices raise to 47-year high with Brazil’s supply concerns | Fast Company

December 2, 2024December 1, 2024 ~ knjohn ~ Leave a comment

Coffee prices rose on Friday to their highest in nearly half a century, buoyed by tightening supplies as next year’s crop in top grower Brazil struggles to recover fully from this year’s drought.

Dealers also said some Brazilian farmers have delayed deliveries of this year’s crop in the hope of securing even higher prices, leading to short-term supply tightness and large financial losses for traders who had been expecting to receive the coffee.

Deloitte Announces its 50 Fastest Growing Technology Companies | The Startup Magazine

November 18, 2024November 17, 2024 ~ knjohn ~ Leave a comment

Deloitte announced this month its 50 Fastest Growing Technology Companies, placing a spotlight on a number of innovators.

Now in its 27th year, the organization’s Technology Fast 50™ program recognizes the world-class achievements of leading technology companies—highlighting their commitment to innovation, strong leadership, and rapid revenue growth.

Said a representative from Deloitte, “These remarkable companies have positioned themselves as growth leaders in their respective sectors, paving the way as catalysts and setting new benchmarks for success. We are proud to celebrate their achievements and recognize them as the driving force behind the country’s technological advancement and economic prosperity.”

Europe’s flying taxi dreams falter as cash runs short | BBC News

November 15, 2024November 14, 2024 ~ knjohn ~ Leave a comment

One of the innovations at this year’s Paris Olympics was supposed to be an electric flying taxi service.

Germany’s Volocopter promised its electric-powered, two-seater aircraft, the VoloCity, would be ferrying passengers around the city.

It never happened. Instead the company ran demonstration flights.

While missing that deadline was embarrassing, behind the scenes a more serious issue was playing out – Volocopter was urgently trying to raise fresh investment to keep the firm going.

Why Canada could become the next nuclear energy ‘superpower’ | BBC News

November 15, 2024November 14, 2024 ~ knjohn ~ Leave a comment

Uranium is making a comeback thanks to a renewed focus on nuclear energy as a climate crisis solution. Canada, rich with high-grade deposits, could become a nuclear “superpower”. But can its potential be realised?

Leigh Curyer had been working in uranium mining for nearly two decades when he noticed a striking shift.

In 2011, the Fukushima nuclear plant disaster in Japan badly damaged the world’s view of nuclear power, and the price for the heavy metal – a critical component for nuclear fuel – cratered.

Amazon’s telehealth platform adds low-cost plans for hair loss, skin care, and more | TechCrunch

November 14, 2024 ~ knjohn ~ Leave a comment

Amazon One Medical is expanding its telehealth services with the launch of upfront and low-cost treatment plans and medication delivery for several beauty and lifestyle concerns. Customers can get treatment plans and medication for men’s hair loss for as low as $16 per month, anti-aging skincare for $10 per month, and erectile dysfunction care for $19 per month.

Other treatment plans include medication for motion sickness and eyelash growth.

The move puts Amazon in direct competition with Hims & Hers, a direct-to-consumer telehealth company that offers treatment plans for a variety of health and wellness concerns like hair loss, erectile dysfunction, weight loss, and more for a monthly fee.

New Apple security feature reboots iPhones after 3 days, researchers confirm | TechCrunch

November 14, 2024 ~ knjohn ~ Leave a comment

Apple’s new iPhone software comes with a novel security feature that reboots the phone if it’s not unlocked for 72 hours, according to security researchers.

Last week, 404 Media reported that law enforcement officers and forensic experts were concerned that some iPhones were rebooting themselves under mysterious circumstances, which made it harder for them to get access to the devices and extract data. Citing security researchers, 404 Media later reported that iOS 18 had a new “inactivity reboot” feature that forced the devices to restart.

Now we know exactly how long it takes for this feature to kick in.

A shadow ‘financial crisis’ has cost the world $2 trillion | CNN Business

November 11, 2024November 10, 2024 ~ knjohn ~ Leave a comment

Last month, two major storms, Hurricane Helene and Hurricane Milton, caused a total of between $51.5 billion and $81.5 billion of property damage, mostly to Southeastern US states, according to estimates from CoreLogic.

That’s a lot of damage – but it’s only a small fraction of what climate change has cost people around the world.

A new report is flashing a warning signal about climate change and natural disasters, finding that their total economic damage has skyrocketed into the trillions.

The report from the International Chamber of Commerce, which comes as the United Nations Climate Change Conference begins in Azerbaijan this week, estimated that the total cost of damage from climate-related extreme weather events globally was approximately $2 trillion between 2014 and 2023 – roughly in line with the economic toll of the 2008 global financial crisis.

Bitcoin hits $80,000. Why Trump is boosting crypto | CNN Business

November 11, 2024November 10, 2024 ~ knjohn ~ Leave a comment

Bitcoin on Sunday hit a new record above $80,000. The world’s largest cryptocurrency surged in the run-up to Tuesday’s US presidential election, rose sharply immediately on election night after it became clear Donald Trump would win and has continued rising in the days since his victory.

Bitcoin is up 80% this year, dwarfing the S&P 500’s still-electric 25.7% gain this year. After briefly touching the $80,000 milestone, bitcoin was trading just below it Sunday mid-morning.

The crypto industry believes Trump’s victory is a bullish sign for Bitcoin and other digital currencies. Although Trump was once a bitcoin skeptic, once saying it “was based on thin air,” he has fully embraced crypto in recent months — unlike the Biden administration, which has sought to rein in crypto.