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Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

Tuesday, June 19, 2018

How trying to stay cool could make the world even hotter

June 19, 2018 1 Comments

How trying to stay cool could make the world even hotter



Air conditioning systems that keep homes, offices and shops cool on hot days are rapidly gaining in popularity in a warming world. But is all the extra electricity they use going to exacerbate climate change or can design efficiencies prevent this?
The world is getting hotter, indeed 16 of the 17 warmest years on record have occurred since 2001, say climatologists.
It's no wonder demand for air conditioning systems is going through the roof. The energy they consume is likely to triple between now and 2050, the International Energy Agency (IEA) says.
This would mean that by 2050, the world's air conditioners would be using the current electricity capacity of the US, the European Union and Japan combined.
So scientists and tech companies are trying to make cooling systems more efficient.
Researchers at Stanford University, for example, have developed a system that uses cutting edge materials and "nano-photonics".
They've invented a wafer-thin, highly reflective material that radiates heat even in direct sunlight. The infrared, thermal energy is radiated at a wavelength that slips through the Earth's atmosphere into space, rather than being absorbed by it.

In tests, the researchers found that it could be used to cool water flowing through pipes beneath panels of the material. That water, cooled on average to a few degrees lower than the outside air temperature, could then be used to cool a building.
And this is achieved without any electricity at all.
The researchers have set up SkyCool Systems to try to commercialise the technology.
"It would be reasonable to expect that future air conditioners could be twice as good as what we're seeing now," says Danny Parker at the University of Central Florida's solar energy centre.
Mr Parker and his colleagues have spent years trying to find ways of making air conditioners and heating systems more efficient.
In 2016, for example, they found that devices cooled through the evaporation of water could be attached to conventional air conditioning units to provide a cooler feed of airThis meant the conventional units themselves didn't have to work so hard to pull down the temperature of incoming air. They calculated that such systems could improve cooling efficiency in many European climates by between 30% and 50%.
Tech giant Samsung has developed "wind free" technology that gently pushes cool air into a room - once the desired temperature has been reached - without the need for energy-hungry fans constantly blowing it at high velocities.
The firm says this is 32% more efficient than conventional air conditioners.
There are already many reasonably efficient air conditioners on the market - including models that make use of simple devices called inverters.
These adjust the intensity of the cooling based on sensor readings of the nearby air temperature. They can run constantly, but at low levels..
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General Electric drops out of Dow index

June 19, 2018 1 Comments

General Electric drops out of Dow index



General Electric is losing its place on the Dow Jones Industrial Average after more than 100 years in a move that reflects a fall in the firm's fortunes and changes to the US economy.
Walgreens Boots Alliance is to take its spot on the financial index, which tracks shares of 30 companies deemed representative of the US economy.
The change takes effect on 26 June.
The firm that runs the index said the change is meant to reflect the growth of the healthcare sector.
"Today's change to the [Dow Jones Industrial Average] will make the index a better measure of the economy and the stock market," said David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices.
The move follows a difficult period for General Electric.
The firm's share price has fallen by more than 50% over the last 12 months and it has replaced its chief executive and announced a series of cuts in an effort to reposition itself.

'Stronger, simpler GE'

General Electric said it is focused on executing the plan it has laid out to improve GE's performance.
"Today's announcement does nothing to change those commitments or our focus in creating... a stronger, simpler GE."
General Electric, one of the original companies included on the Dow, traces its roots to Thomas Edison's light bulb business in the 1890s.
It grew to become one of America's biggest companies, an industrial conglomerate that also owned the NBC Universal media company and operated a major finance division.
Over the last decade, the firm has sold off a number of business units, including NBC, GE Capital and its appliances division, responding to losses triggered by the financial crisis and poor performance against competitors.
The firm, which employed more than 300,000 people globally at the end of last year, is seeking to sell its light bulb business. Last month the company announced a deal to offload its railroad division.

The committee that oversees the Dow, which is run by a division of S&P Global, reviews the composition of the index regularly.
It replaced AT&T with Apple in 2015.
Walgreens, founded as a neighbourhood pharmacy in 1901, has been rapidly expanding in recent years.
It leapt onto the global stage in 2012 when it acquired a stake in Alliance Boots, taking full ownership in 2014. The firm, based in Illinois, also acquired more than 1,900 stores from Rite-Aid last year.
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Canada legalises recreational cannabis use

June 19, 2018 1 Comments

Canada legalises recreational cannabis use



Canada's parliament has passed a law legalising the recreational use of marijuana nationwide.
The Cannabis Act passed its final hurdle on Tuesday in a 52-29 vote in the Senate. The bill controls and regulates how the drug can be grown, distributed, and sold.
Canadians will be able to buy and consume cannabis legally as early as this September.
The country is the first in the G7 to legalise the drug's recreational use.
Cannabis possession first became a crime in Canada in 1923 but medical use has been legal since 2001.
The bill will likely receive Royal Assent this week, and the government will then choose an official date when the law will come into force.
Prime Minister Justin Trudeau tweeted that until now, "it's been too easy for our kids to get marijuana - and for criminals to reap the profits".
But some groups objected to the new law, with opposition Conservative politicians and indigenous groups among those voicing concerns.
The government is expected to give the provinces and territories, as well as municipalities, eight to 12 weeks to set up the new marijuana marketplace.
This timeframe will also allows industry and police forces to prepare for the new legal framework.
In 2015, Canadians were estimated to have spent about C$6bn ($4.5bn, £3.4bn) on cannabis - almost as much as they did on wine.
  • Pot advocates concerned about legalisation
  • Marijuana brands aim for high-end retail in Canada

How will legal marijuana in Canada work?

It is likely that by mid-September, Canadians will be able to buy cannabis and cannabis oil grown by licensed producers at various retail locations.
Canadians across the country will also be able to order the drug online from federally licensed producers.

Adults will be able to possess up to 30 grams (one ounce) of dried cannabis in public.
Edibles, or cannabis-infused foods, will not be immediately available for purchase but will be within a year of the bill coming into force. The delay is meant to give the government time to set out regulations specific to those products.
The minimum legal age to buy and consume marijuana has been set federally at 18, but some provinces have chosen to set it at 19.
  • Canada, provinces reach pot tax deal
  • Cannabis and Canada: Why has drug policy changed?
Provinces are in charge of how it is sold and have the power to set various other limits on its use within their jurisdiction - like where it can be smoked.
But the federal government has set guidelines for plain packaging with little branding and strict health warnings. It will also impose restrictions on promotions targeting young people, promotion through sponsorships, or depictions of celebrities, characters, or animals in advertisements.

What will remain illegal?

It will be illegal to possess over 30 grams of cannabis, grow more than four plants per household, and to buy from an unlicensed dealer.
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Monday, June 18, 2018

Stock markets fall amid trade fears

June 18, 2018 1 Comments

Stock markets fall amid trade fears



Stock markets have fallen amid fears of a further deterioration in US-Chinese trade relations.
Tensions in Germany's coalition government over migration policy added to investors' uncertainty.
Wall Street's Dow Jones and S&P 500 were 0.4% and 0.2% down, although shares pulled back from steeper losses.
Earlier, Frankfurt's Dax fell 1.4%, while Paris' Cac fell 0.9%, and Madrid shares slipped 0.8%. The FTSE 100 recovered from early falls to end flat.
It followed a fall on Asian stock markets after US President Donald Trump's decision on Friday to impose 25% tariffs on $50bn worth of Chinese goods.
China retaliated, saying it would impose an additional 25% tariff on more than 600 US products worth $50bn.
There were no signs of the trade row easing on Monday, with US Secretary of State Mike Pompeo calling China's trade practices "predatory economics 101".
In remarks to the Detroit Economic Club, he said statements by Beijing in recent weeks that it was moving to open its economy were "a joke".
  • Chinese mock Trump over tariffs
  • Is this Angela Merkel's moment of reckoning?
Earlier, Japan's Nikkei had closed 0.8% lower on Monday, while South Korean shares fell 1.1% and other Asian markets also declined.
However, stock markets in China and Hong Kong were closed for a public holiday.
"Tensions between the US and China are escalating, and we are not any closer to an agreement being reached. With neither side willing to back down, investors are caught in the middle," said David Madden, market analyst at CMC Markets.
Art Hogan, chief market strategist at B. Riley FBR in New York, said: "The trade war is definitely on the front burner right now, and will continue to be in the absence of news catalysts and unless something substantially changes."
European investors are also wary of political factors in Germany, where Chancellor Angela Merkel has clashed with leaders of her coalition ally in Bavaria, the CSU, over her refugee policy.
"With the US-China trade war already creating an uncomfortable trading atmosphere, the brewing political tension between long-time allies the CDU and CSU in Germany has caused some bloody losses in the eurozone," said Connor Campbell, financial analyst at SpreadEx.
Sterling continued to struggle, trading against the dollar at $1.3241 - close to the seven-month low of $1.3205 hit late last month.
The pound has fallen 8% since mid-April as traders become less confident that the Bank of England will follow the US Federal Reserve by raising interest rates in August.

Oil prices gained ground after earlier falls, with Brent crude up more than $1 to $74.50 a barrel despite suggestions that Opec would increase production later this year.
Countries in the oil-producing cartel led by Saudi Arabia - along with other big producers including Russia - will meet in Vienna later this week. Both countries want to boost output.
Commerzbank commodities analyst Carsten Fritsch said: "That production will be increased in the second half of the year is considered certain - the only question is by how much."
Goldman Sachs expected Opec and Russian output to rise by 1 million barrels a day by the end of 2018.
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Trump threatens additional $200bn in tariffs on China

June 18, 2018 1 Comments

Trump threatens additional $200bn in tariffs on China



US President Donald Trump has threatened to impose tariffs on an additional $200bn (£151bn) of Chinese goods in a growing trade row.
Mr Trump said the 10% tariffs would come into effect if China "refuses to change its practices".
The move would be a major escalation of the dispute, which threatens to take the US and China into a trade war.
Mr Trump insists that China has been unfairly benefitting from a trade imbalance with the US for years.
Last week, he announced the US would impose 25% tariffs on $50bn worth of Chinese goods.
Beijing responded by saying it would hit 659 US products worth $50bn - including agricultural products, cars and marine products - with a similar tax.
Mr Trump said that by retaliating, China was "threatening United State companies, workers, and farmers who have done nothing wrong".
Stock markets had already fallen on Monday amid fears of further deterioration of US-China trade relations.
  • What is a trade war and why should I worry?
  • China vows fast response to US tariffs
The US president released a statement on Monday night saying he had asked his trade advisers to identify additional Chinese products on which to impose new tariffs."These tariffs will go into effect if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced," he said.
"If China increases its tariffs yet again, we will meet that action by pursuing additional tariffs on another $200 billion of goods. The trade relationship between the United States and China must be much more equitable."
  • G7 summit ends in disarray over tariffs
  • US tariffs a dangerous game, says EU
The US tariffs already announced affect more than 800 Chinese products worth $34bn in annual trade. They are due to come into effect on 6 July.
The product lines range from aircraft tyres to turbines and commercial dishwashers.
The White House said it would consult on tariffs on the further $16bn of products, and would apply these later.

The US wants China to stop practices that allegedly encourage transfer of intellectual property - design and product ideas - to Chinese companies, such as requirements that foreign firms share ownership with local partners to access the Chinese market.
However, many economists and businesses in the US say the tariffs are likely to hurt some of the sectors the administration is trying to protect, which depend on China for parts or assembly.
The US announced plans for tariffs this spring, after an investigation into China's intellectual property practices.
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Thursday, June 14, 2018

McDonald's to ditch plastic straws

June 14, 2018 2 Comments

McDonald's to ditch plastic straws



McDonald's will replace plastic straws with paper ones in all its UK and Ireland restaurants, starting from September.
The fast food giant is the latest company to opt out of the single-use plastic, which can take hundreds of years to decompose if not recycled.
The restaurant chain uses 1.8 million straws a day in the UK.
"Reflecting the broader public debate, our customers told us they wanted to see a move on straws," the firm said.
This decision follows a successful trial in selected restaurants earlier this year. The move to paper straws will begin in September and be completed next year.
  • The last (plastic) straw: Who's banning them?
  • Reality Check: Do we use 8.5 billion straws a year in the UK?
  • Plastic straw and cotton bud ban proposed
Environment Secretary Michael Gove called it a "significant contribution" to helping the environment, adding that it was "a fine example to other large businesses".


In April, the government proposed a ban on plastic straws and cotton buds in England. But many businesses, including Waitrose, Costa Coffee, and Wagamama, have already started to take action.

All JD Wetherspoon pubs stopped using plastic straws at the beginning of the year. Pizza Express said it would replace all plastic straws with biodegradable ones by summer 2018.
And more than 60 independent British festivals - including Boardmasters and Bestival - have banned plastic straws as part of a pledge to rid their sites of single-use plastic by 2021.
  • platic pollution: 'Scourge' of debris on beaches tackled
  • Disabled people 'need plastic straws'
  • Plastic and cotton found in UK's wild mussels
Most straws are made from plastics such as polypropylene and polystyrene, which unless recycled take hundreds of years to decompose.
Many end up in landfill and the oceans, and the BBC's Blue Planet II highlighted the damage plastic can cause to marine wildlife.
But not everyone thinks total bans are the answer.
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    Job cuts 'beneficial for Rolls Royce'

    June 14, 2018 1 Comments
    Job cuts 'beneficial for Rolls Royce'



    Yesterday Rolls Royce said it would lay off 4,600 workers, many in its home town of Derby.
    Andrew Mair of the Midlands Aerospace Alliance says many of the jobs to go are in middle management and removing some "layers of bureaucracy" will be beneficial.
    "These cuts are about making Rolls Royce a more agile company... and therefore a more efficient company in the global economy."
    He doesn't fear a wider knock-on effect on the wider Midlands region, whose economy is growing.
    He adds that business at Rolls Royce is growing, making factory floor job losses unlikely.
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    Wednesday, June 13, 2018

    Rising fuel prices spur inflation in May

    June 13, 2018 1 Comments

    Rising fuel prices spur inflation in May


    Inflation remained at 2.4% in May, according to the Office for National Statistics (ONS), after its fall was halted by a sharp rise in fuel costs.
    The ONS said that fuel prices increased by the biggest monthly amount since January 2011, rising by 3.8%.
    Mike Hardie, head of inflation at the ONS said: "Recent large rises in the cost of crude oil have fed through to prices paid by consumers at the pump."
    Inflation has been falling since November last year.
    The rise in oil prices also drove up raw material costs for companies, which jumped by 9.2%.
    The effect was also seen in rising prices for air and ferry travel.
    "While inflation appears to be under control there are signs in the data, and outside it," said Laith Khalaf, senior analyst at Hargreaves Lansdown.
    "Petrol prices are up 8% over the course of the year, and all the Big Six energy firms are putting up prices this summer, which is yet to feed into the numbers," he said.
    On Tuesday, the ONS said wage growth slowed to 2.8% in the three months to April from 2.9%. Data also revealed that manufacturing output fell 1.4% in April, the biggest decline for nearly six years.


    The rise in fuel prices was offset by a fall in "recreational and cultural goods and services", in particular computer games.

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    The ONS said: "Prices for these games are heavily dependent on the composition of bestseller charts, often resulting in large overall price changes from month to month."
    It also said food prices dragged on inflation, specifically products such as sugar, jam, syrups, chocolate and confectionery.
    The committee which sets interest rates at the Bank of England will consider the latest inflation figures when it meets next month.
    Economists are divided over when the Bank will raise interest rates, some are betting on August of this year, but others think it will hold off until 2019.
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