Global monitor says famine is weeks away in north Gaza
STOCKHOLM, Nov 22 (Reuters) - Sweden's Northvolt said on Thursday it will seek U.S. Chapter 11 bankruptcy protection as the cash-strapped battery start-up seeks to sort out its finances. The company went in a matter of months this year from being Europe's best shot at a home-grown electric-vehicle battery champion to racing to stay afloat , hobbled by production problems and as funding ran out. Northvolt, whose motto is "make oil history", has received more than $10 billion in equity, debt and public financing, and counts Volkswagen, with a 21% stake, and Goldman Sachs, with a 19% holding, as its biggest owners. Here is a timeline of major events. Company founded in 2016 as SGF Energy by two former Tesla executives and venture firm Vargas Holding. It becomes Northvolt in 2017, receiving equity funding of $12 million that year and an additional $120 million in 2018. The group in 2017 announces plans to build $4 billion lithium-ion battery gigafactory Northvolt Ett and research facility Northvolt Labs. It partners with BMW and truck maker Scania. It says in October 2018 it is developing a battery systems factory in Poland. Volkswagen, BMW and Goldman Sachs are among investors in a $1 billion equity capital raise. Volkswagen takes a stake of about 20%, becoming the biggest owner, with battery production for the automaker planned for late 2023 or early 2024. Northvolt raises $600 million in equity and $1.6 billion in debt. BMW signs a 2 billion euro ($2.16 billion) contract for battery cells to be produced from 2024. Volkswagen places a 10-year, $14 billion battery cell order with the company, Northvolt says in March. In the same month it announces the acquisition of California-based lithium-metal battery start-up Cuberg . Later that year the group raises $2.75 billion in equity to finance an expansion of Northvolt Ett, aiming for the plant to have annual capacity of 60 gigawatt hours, enough for some one million cars. It also establishes the Novo joint venture with Volvo Cars , with plans for a 50 GWh factory, and in December announces that it has formed the Aurora lithium joint venture with Portugal's Galp. The company says in December it has assembled the first lithium-ion battery cell at Northvolt Ett. Sweden is turning into a battery-making superpower, the then-industry minister tells news agency TT. Northvolt announces in February plans for gigafactory Northvolt Fem in Sweden. This is first meant to be a battery cell factory, then an active cathode material plant. It is cancelled in 2024. The group also in 2022 delivers the first battery cells to customers. It says in July it has raised $1.7 billion in convertible debt for factory rollouts. Sources tell Reuters in February that Northvolt plans to hire banks for an initial public offering that could take place within 12 months and value the company at more than $20 billion. The IPO is later postponed. The group says in August it has raised $1.9 billion in convertible debt to finance expansion in Europe, North America. Northvolt announces plans in September for the $5 billion Northvolt Six battery plant in the Montreal region of Quebec, Canada. It touts a $50 billion order book and almost 6,000 employees. January - Northvolt inks a $5 billion loan package to pay for the second stage of Northvolt Ett, a tripling of capacity. Sweden issues credit guarantees for $1.5 billion of the package, but the money is not paid out as construction is halted. March - In the presence of German Chancellor Olaf Scholz, Northvolt starts construction of Northvolt Drei in Germany, with planned annual production capacity of 60 GWh. The plant wins 900 million euro in subsidies. June - BMW cancels , opens new tab a 2 billion euro battery order signed in 2020. Sources tell Reuters the reason is that Northvolt cannot deliver on time. July - Northvolt launches a strategic review of its business, with the CEO saying the company expended too aggressively. August - The group shuts Cuberg in California, concentrating R&D in Sweden. Sept. 9 - Northvolt says it will focus on battery cell production. It halts cathode active material production, effectively shelving plans to become end-to-end self-sufficient in the battery-making value chain. The group says planned battery plants in Canada and Germany may be delayed. Sept. 16 - Sweden's prime minister says the government will not take a stake in Northvolt. Sept. 23 - The company announces layoffs of 1,600 employees in Sweden and cancels the Northvolt Ett expansion, adding it will concentrate on raising production at the current plant. Sept. 24 - Northvolt says Northvolt Ett produced a record 60,000 battery cells in one week, a tiny fraction of the plant's capacity, according to analysts, as production problems persist. Oct. 8 - The Northvolt subsidiary in charge of expanding the plant in Sweden files for bankruptcy with billions of crowns in unpaid debt. Oct. 9 - The head of Northvolt Ett steps down after 15 months in the job. Oct. 10 - The company seeks to sell its stockpile of surplus battery-making materials, sources tell Reuters. Oct. 11 - The group is in talks with investors and lenders to secure about 200 million euros in funding, sources tell Reuters, far less than the $1.4 billion that Swedish media reported earlier in the year that Northvolt hoped to raise. Oct. 21 - Northvolt says it is making significant progress on financing. A source tells Reuters the company aims to raise more than $300 million, which could give it funds until next year. Oct. 31 - Volvo Cars says it is seeking to take full control over Swedish battery-making joint venture NOVO, as Northvolt is no longer contributing funds. Nov. 11 - Northvolt says the head of investments at Volkswagen is leaving the group's board . Nov. 15 - Northvolt has considered seeking U.S. Chapter 11 bankruptcy protection as one of several potential survival options, two sources familiar with the matter told Reuters. Nov. 18 - Northvolt has missed some in-house production targets and has curtailed production at its plant in northern Sweden, according to internal company documents reviewed by Reuters and company sources. Sign up here. Reporting by Anna Ringstrom and Marie Mannes; Editing by Terje Solsvik and Jan Harvey Our Standards: The Thomson Reuters Trust Principles. , opens new tab
Video Loading Video Unavailable Click to play Tap to play The video will auto-play soon 8 Cancel Play now Get the latest Belfast Live breaking news on WhatsApp Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info Join us on WhatsApp I'm A Celebrity fans are up in arms, calling for one campmate to be the first voted off, labelling him "selfish" and "annoying". During Sunday's episode of the hit ITV reality show set in Australia, hosted by Ant and Dec, there was a significant change in camp dynamics. Tulisa Constostavlos and Coronation Street's Alan Halsall stepped down as leaders, passing the baton to McFly's Danny Jones and boxing icon Barry McGuigan. This transition meant relinquishing their comfortable beds in the Leaders' Lodge to sleep alongside fellow contestants in the jungle. I'm a Celebrity fans want Dean to leave first Read More Related Articles ITV I'm A Celebrity feud erupts as Dean McCullough angers co-star after stern warning Read More Related Articles ITV I'm A Celebrity fans spot key sign Dean McCullough is furious with Ant and Dec Tulisa picked a spot near the campfire but issued a stern warning to Radio 1 Breakfast Show host Dean McCullogh about not singing any musical theatre tunes early in the morning, as it wouldn't sit well with her. Come Monday's show, despite choosing to have a lie-in, Tulisa's morning was disrupted by an unexpected serenade of musical theatre from someone in the camp, reports the Express . Dean quipped: "Now that she's out of the Leaders' Lodge, Tulisa has warned me that there must be no musical theatre early in the morning, so I made it my mission to make sure the camp woke up this morning with the sound of lovely singing! ". While Tulisa appeared to handle the situation with good humour, viewers were less forgiving, flocking to social media to express their annoyance and calling for Dean to be the first to leave. Tulisa had issued Dean a warning (Image: (Image: REX/Shutterstock)) A viewer commented: "Such an iconic lineup being spoiled by Dean and Dean only" accompanied by a gif stating 'I need him out'. One viewer exclaimed: "I would get up and punch him In the face! " while another was keen to see Dean voted out, saying: "Can't wait for Dean to be out first! ! ! " A third disgruntled fan called him "selfish," and yet another accused him of doing "everything he can to annoy other campmates." Someone else highlighted Dean's "two-faced" behaviour after he had a go at Coronation Street star Alan Halsall for quietly waking him up to do some chores. In other news from Monday's episode, newcomer Maura Higgins celebrated her 34th birthday in the camp, and Dean took on his sixth Bushtucker Trial, Jack and the Scream Stalk - setting a personal best. Dean managed a successful Bushtucker trial (Image: (Image: REX/Shutterstock)) Dean faced the challenge of collecting 12 numbered stars in sequence within a 12-minute limit. His task began with scaling the beanstalk, grabbing stars along the way. Reaching the trial's peak, he had to gather and piece together the golden egg before heading to the castle for the remaining stars. Despite the numerous daunting obstacles, Dean impressively secured 10 out of the 12 stars, marking his highest score to date. I'm A Celebrity... Get Me Out of Here! is on ITV1 and ITVX Story Saved You can find this story in My Bookmarks. Or by navigating to the user icon in the top right. Follow BelfastLive Facebook Twitter More On Ant & Dec Tulisa Contostavlos I'm A Celebrity... Get Me Out Of Here ITV
Scott Frost is expected to return as UCF's coach, 247Sports reports . Frost, who spent 2024 as a senior football analyst with the Los Angeles Rams, led the Knights from 2016-17. He amassed a 19-7 record in his two years with the program. Frost is set to replace Gus Malzahn, who left to become Florida State's offensive coordinator earlier in December. In its final season under Malzahn, UCF posted a 4-8 record, with a 2-7 showing in Big 12 play. Frost began his first stint at UCF in 2016 after three seasons as the offensive coordinator at Oregon . Following a 6-7 record in his inaugural year with the Knights, Frost led UCF to its first perfect season in program history, capped by a win against Auburn in the Peach Bowl. The Knights also finished the year as a consensus top-10 team. Frost left UCF for Nebraska , where he played quarterback from 1995-97. He didn't produce a winning season in five years with the Huskers and was fired three games into the 2022 campaign. Frost did not coach anywhere in 2023 following his ouster from Nebraska.
Pair arrested after drones flown 'dangerously close' to Logan AirportGameSir Tarantula Pro, NYXI Master P1 and BEITONG Asura 2Pro+ NearLink head-to-headstar has shared the struggles he faced during his recent illness, which led to a significant weight loss and left him too weak to play. In an interview with The Athletic, described his ordeal: "I've never been that sick before in my entire life. I didn't eat for two days, didn't get up, nothing. I was down. It was bad." revealed that he initially aimed to return earlier against the but couldn't due to persistent breathing issues and severe coughing. "I got through the workout, but I couldn't breathe good," he admitted. His absence, combined with the recovery period, left the veteran nervous about returning to the court. This marks first game since December 14, where he played against the . So far this season, the 34-year-old has averaged 25.7 points, 7.5 assists, and 4.5 rebounds across 22 games, forming a formidable duo with teammate . However, own illness has him listed as questionable for tonight's matchup. Bucks' redemption arc Despite a rough start to the season, remains optimistic. Reflecting on the team's early struggles, he stated: "The team we started the season as is not the team that we are now. And it was never who we truly were." Since their 2-8 start, the have improved to a 16-13 record, showing signs of the championship-caliber play expected from them. was pivotal in the victory, contributing 23 points, four rebounds, and four assists in the final against the . His partnership with has become a beacon of hope for , signaling their potential to climb even higher in the standings. Crucial games ahead The face the tonight, followed by matchups against teams like the . With return and a chance to build momentum, aims to solidify their playoff position and silence any lingering doubts about their capabilities. resilience and return couldn't come at a more critical time for the as they look to continue their upward trajectory in the .
India News | .BANIHAL/BHADERWAH DEL41 JK-SNOW-CRICKET Snow Strands Hundreds of Commuters in J&K's Banihal; for Some It's Cricket All RightBhubaneswar: Carrying candles and singing carols was the most exciting part of festivities, said seven-year-old Riah, while her friend Reon enjoyed playing a shepherd in the Nativity play (portraying the birth of Jesus). Like Riah and Reon, children of Sunday School at Union Church here portrayed events from the Bible through colourful cultural programmes and showcased their talents as a part of Christmas celebrations . More than 100 students of various ages are enrolled in the Sunday School, which aims to inculcate values among kids through storytelling and engaging them in various activities. "We enjoyed every bit of the pre-Christmas celebration. We practised for so many weeks to present our play, choral song and musical perforamnces during the event. We came to know about the life of Jesus Christ, his principles and stories of the Bible. They are interesting and full of morals, which are applicable in every step of our lives," said Samir Digal, a Class VIII student, who is attending Sunday School for the last few months. Wearing colourful dresses and Santa Claus attire, children played music, sang in the choir, performed carols and recited memory verses, while each child performed and displayed their talents. Children acted in the Christmas skit, engaged in making decorations, and fashioned the crib, while the older children handled church decoration. "At a time of degrading values, our Sunday School imparts the teachings and philosophies of the Bible through stories, songs and activities so that they imbibe faith in God. Apart from honing their talents, children are taught principles of social justice, kindness and compassion," said J M Manna Whitson, secretary of the Union Church. Parents said they are happy that children are not only learning the teachings of Bible but are also being taught how to behave socially, stay away from drugs, respect parents and elders, and show kindness and compassion to the poor, needy and elderly. "With both parents working in nuclear families, children spend time alone or with gadgets. Sunday School has been a great source of hope for us that our children are being shown the right path. The show they presented for Christmas is really amazing," said Priyanka Abraham, a parent. Stay updated with the latest news on Times of India . Don't miss daily games like Crossword , Sudoku , Location Guesser and Mini Crossword . Spread love this holiday season with these Christmas wishes , messages , and quotes .
NNPCL’s Plan To Establish Five LNG Plants In Ajaokuta Excites Akpoti-Uduaghan