Securities and Exchange Commission Chair Gary Gensler, who was aggressive in his oversight of cryptocurrencies and other financial markets, will step down from his post on Jan. 20. Gensler pushed changes that he said protected investors, but the industry and many Republicans bristled at what they saw as overreach. President-elect Donald Trump had promised during his campaign that he would remove Gensler. But Gensler on Thursday announced that he would be stepping down from his post on the day that Trump is inaugurated. Bitcoin has jumped 40% since Trump’s victory. It hit new highs Thursday and was nearing $100,000. Bitcoin moved notably higher still after Gensler's resignation was announced. Gensler's stance on the rise of cryptocurrencies was captured during a speech he gave during the first year of his chairmanship in 2021 where he described the market as “the Wild West.” “This asset class is rife with fraud, scams, and abuse in certain applications,” he said in a speech at the Aspen Security Forum. “There’s a great deal of hype and spin about how crypto assets work. In many cases, investors aren’t able to get rigorous, balanced, and complete information.” Under Gensler, the SEC brought actions against players in the crypto industry for fraud , wash trading and other violations, including as recently as last month when the commission brought fraud charges against three companies purporting to be market makers, along with nine individuals for trying to manipulate various crypto markets. Yet access to cryptocurrencies became more widespread under Gensler. In January, the SEC approved exchange-traded funds that track the spot price of bitcoin. With such ETFs, investors could get easier access to bitcoin without the huge overlays required to buy it directly. Gensler, however, acknowledged the SEC had denied earlier, similar applications for such ETFs, including Grayscale Bitcoin Trust, among the first to eventually be approved by the SEC. “Circumstances, however, have changed,” Gensler said, pointing to a ruling by the U.S. Court of Appeals for the District of Columbia that said the SEC failed to adequately explain its reasoning in rejecting Grayscale’s proposal. Even there, Gensler made sure not to endorse the merits of bitcoin. He pointed to how ETFs that hold precious metals are tracking prices of things that have “consumer and industrial users, while in contrast bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware, money laundering, sanction evasion, and terrorist financing.” Gensler was tested early in his tenure with the rise of the meme stock phenomenon that shocked the financial system in early 2021. Earlier this year, the SEC under Gensler pushed Wall Street to speed up how long it takes for trades of stocks to settle, one of the areas where the commission’s staff recommended changes following the reckoning created by GameStop , one of the first meme stocks. In the depths of the COVID-19 pandemic, hordes of smaller-pocketed and novice investors suddenly piled into the stock of the struggling video-game retailer. During the height of the frenzy, several brokerages barred customers from buying GameStop after the clearinghouse that settles their trades demanded more cash to cover the increased risk created by its highly volatile price. In May 2024, new rules meant broker-dealers have to fully settle their trades within one business day of the trade date, down from the previous two. Critics of the SEC under Gensler have called many of the agency's proposals overly burdensome. The investment industry, for example, is pushing against a proposal to force some advisers and companies disclose more about their environmental, social and governance practices, otherwise known as ESG. Critics say the proposal is overly complex and increases the risk of investor confusion, while imposing unnecessary burdens and costs on funds. On Thursday, Gensler stood by the SEC's track record under his direction. “The staff and the Commission are deeply mission-driven, focused on protecting investors, facilitating capital formation, and ensuring that the markets work for investors and issuers alike," Gensler said in prepared remarks. “The staff comprises true public servants." Gensler previously served as Chair of the U.S. Commodity Futures Trading Commission, leading the Obama Administration’s reform of the $400 trillion swaps market. He also was senior advisor to U.S. Senator Paul Sarbanes in writing the Sarbanes-Oxley Act (2002) and was undersecretary of the Treasury for Domestic Finance and assistant secretary of the Treasury from 1997-2001.
BAMAKO, Mali (AP) — Mali's ruling junta arrested one of the country's top politicians Wednesday for criticizing the military rulers of neighboring Burkina Faso, according to his son and a judiciary source. Issa Kaou N’Djim, who previously supported Mali's current military leader Col. Assimi Goita before distancing himself, was arrested on charges of insulting a foreign head of state, which is a crime in Mali, an employee of the court system said. The court employee spoke to the The Associated Press on condition of anonymity because he wasn’t authorized to talk to reporters. N'Djim had claimed on the Joliba TV News broadcaster on Sunday that the military rulers of Burkina Faso, a close ally of Mali, made up evidence of a foiled coup in November. The politician was placed in custody and taken to the main prison in Mali's capital Bamako on Wednesday, his son, Ousmane N’djim, said. “He knows he is being arrested because of his political struggle." The director of Joliba TV News has also been called for interrogation by the authorities. Mali and Burkina Faso have been ruled by military regimes since coups in 2020 and 2022 , capitalizing on popular discontent with previous democratically elected governments over security issues. Together with Niger, another junta-led country in the region, they form the Alliance of Sahel States, or AES. N’Djim was one of the vice presidents of the National Transitional Council (CNT), Mali’s legislative body under the junta. He later distanced himself from the military regime and said he favored a return to electoral democracy. In 2021, he was handed a six-month prison sentence after he criticized the military regime on social media. The security situation in the three AES countries has worsened over the past couple of years, analysts say, with a record number of attacks by Islamic extremists. Government forces have been accused of killing civilians they suspect of collaborating with militants while cracking down on political dissent and journalists . In June, Malian authorities arrested eleven opposition politicians and several activists . Amnesty International called for N'Djim's release in a post on the social media platform X. This story was first published on Nov. 13, 2024. It was updated on Nov. 26, 2024 to correct that the month of an alleged foiled coup attempt in Burkina Faso mentioned by a politician was in November, not September.Israel approves proposed ceasefire with Hezbollah
Main Street Point Pleasant (West Virginia) advocates for tax credit improvement act
Genome Editing Market to Exhibit a Remarkable CAGR of 17.20% by 2030, Size, Share, Trends, Key Drivers, Demand, Opportunity Analysis and Competitive Outlook
A Dutton government would keep coal working hard for much longer under its nuclear policy, while renewables would provide only a little over half the electricity generated in 2050. The Opposition has finally put in place the last piece of its controversial nuclear policy, with modelling claiming its alternative would come in substantially cheaper than Labor’s transition path to net zero. The Coalition policy ensures the issues of coal and climate change will be strongly contested at next year’s election. The key breakdown in the Opposition policy is that by 2050, renewables would provide 54 per cent of electricity generation and nuclear 38 per cent, with 8 per cent a combination of storage and gas. This compares with Labor’s transition plan for renewables to provide nearly all the generation by then (and 82 per cent by 2030). The modelling, done at no charge by Frontier Economics, costs the Coalition plan for the transition of the National Electricity Market (which covers the east coast and South Australia but excludes WA) at $263 billion (about 44 per cent) cheaper than its estimate for Labor’s transition. The modelling, including a range of assumptions (the same assumptions as the Australian Energy Market Operator except for inclusion of nuclear), puts the cost of Labor’s transition in the National Electricity Market at $594 billion and that of the Coalition’s at $331 billion. A central feature of the plan is to keep existing coal-fired power stations going for longer. Then the first of them would be replaced by nuclear generation, in the mid-2030s. The Coalition policy is for seven publicly-owned nuclear plants spread around the country although the modelling is on the basis of units in Queensland, NSW and Victoria. The Coalition argues coal-fired power stations do not need to be, and should not be, phased out as soon as is now planned by AEMO. Prolonging their lives as compared to AEMO assumptions would save money, it says. Another important saving, the Coalition says, is that its plan to have its nuclear plants located at or near existing power plant sites does away with the need for a huge new transmission grid. “The Coalition’s approach integrates zero-emissions nuclear energy alongside renewables and gas, delivering a total system cost significantly lower than Labor’s. This means reduced power bills,” Peter Dutton says. The release of the costings unleashes a tsunami of claims and counterclaims about numbers. That debate will be eye-glazing for many voters. Not to worry. We are talking the span of a generation. Numbers that stretch out to 2050 don’t mean a great deal. Hundreds of things — in technology and politics, for starters — can and will change as the years pass. Michelle Grattan Moreover, numbers from modelling have an extra layer of complexity and uncertainty. They depend heavily on their assumptions. Anyone inclined to take modelling at face value should reflect on the Labor experience. Before the 2022 election it released modelling that gave it the basis to promise a $275 reduction in household power bills by next year. We know what happened to that. Regardless of the problems in attempting to be precise, the broad debate about nuclear’s cost will be intense. Energy Minister Chris Bowen said on Friday: “What the Coalition is asking the Australian people to believe is this: that they can introduce the most expensive form of energy and it will end up being cheaper. It won’t pass the pub test.” The Opposition’s plan is up against the recently released GenCost report, prepared by the CSIRO. This gave a thumbs down to the nuclear option in cost terms. The Opposition’s attempt to cast doubt on the CSIRO’s expertise is unlikely to fly. The Coalition policy will go down differently according to which constituency is judging it. Most obviously, given its reliance on extending the life of coal, it will be unpopular with those for whom climate change is a top-line issue. Teal MPs and candidates will hope to get mileage out of that. Under the Coalition plan emissions would remain higher for longer than under Labor’s transition. On the other hand, in some regional communities where there has been a bad reaction to the planned new power grid and to wind farms, the policy is likely to be well received. Michelle Grattan Michelle Grattan The question is how it will play in the outer suburban electorates that Dutton hopes will help him cut deeply into Labor’s majority. For these voters, stressed by the cost of living, climate change is probably less of a priority than it once might have been. And nuclear is less scary than in bygone years. But whether they will see the Coalition policy as more practical than Labor’s, or as a pie-in-the-sky nuclear dream — that’s too early to say. Bowen was dismissive when the Coalition first promoted nuclear. But Labor would be unwise to be complacent. Labor’s strongest arguments will be on climate change — the evils of the extension of the use of coal — and cost (relying on GenCost findings and the like). But it is vulnerable in its rejection of calls to lift the ban on nuclear. Bowen says to do this would be a “distraction”, potentially harming investment in renewables. That’s a simplistic argument. With households highly focused on their immediate power bills, the Government has been tipped to extend more relief as it burnishes its cost-of-living credentials for the election. The Coalition would have to decide whether to match this. It would be hard not to do so. The Coalition’s plan for nuclear power is a big idea, of which we don’t see that many in our current politics. It will test Dutton’s ability to cope with detail under the pressure of a campaign. There will be another test. If the Coalition remains in opposition, will it throw its grand plan into the policy dust bin, so the nuclear debate will be gone for another decade or two?The SEMAF factory, part of the Arab Organization for Industrialization (AOI), has signed a cooperation protocol with the Egyptian National Railways Industries Company (NERIC) to produce advanced railway and metro trains for both domestic needs and export to African and Arab markets. The collaboration will promote the “Made in Egypt” brand, advancing local manufacturing and technological localization. This partnership is aligned with the strategic goals of the Arab Organization for Industrialization, which seeks to deepen local manufacturing capabilities and promote technology transfer as part of Egypt’s Vision 2030 for sustainable development. The organization continues to make progress by fostering cooperation, forming key partnerships, and attracting investment to boost Egypt’s industrial sector. Mokhtar Abdel Latif, Chairperson of the Arab Organization for Industrialization, emphasized the importance of this collaboration in strengthening Egypt’s railway and metro infrastructure. He noted that the initiative would not only benefit the national industry and economy but also help reduce dependency on imports. “The goal is to establish a joint alliance capable of meeting the Ministry of Transport’s needs with high-quality, locally manufactured products bearing the ‘Made in Egypt’ label,” said Abdel Latif. “This includes supplying rolling stock and components, both locally and internationally sourced, while ensuring compliance with global standards. It also supports the government’s industrial localization efforts and overall development strategies.” Abdel Latif also highlighted SEMAF’s leadership in the railway industry, particularly its success in increasing local manufacturing and adopting advanced technologies. SEMAF recently earned a quality management certification for its railway manufacturing processes, opening doors to new international partnerships, marketing opportunities, and export potential. This achievement positions SEMAF to secure global contracts and attract investments in the railway, metro, and smart transportation sectors. Karim Sami Saad, a board member of NERIC, expressed pride in the partnership with the Arab Organization for Industrialization, calling it the backbone of Egypt’s industrial sector. He praised the organization’s track record in delivering projects with high efficiency, top-quality standards, and timely completion, including post-sales maintenance services. “This collaboration will significantly benefit the Egyptian economy by leveraging our national manufacturing capabilities to design and produce cutting-edge railway and metro rolling stock and components,” Saad said. “The partnership will contribute to sustainable development and support key infrastructure projects across Egypt and beyond.”Biden administration to loan $6.6B to EV maker Rivian to build Georgia factory that automaker pausedNone
Samsung Achieves Industry First with 8K Projector Certification
NEW YORK, Dec. 13, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The global barite market size is estimated to grow by USD 353.88 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.25% during the forecast period. Increase in oil and gas drilling activities is driving market growth, with a trend towards rising use of barite in middle Eastern oil and gas industry. However, volatility in oil and gas prices poses a challenge. Key market players include Anglo Pacific Minerals Ltd., BARIT MADEN TURK A.S., Barium and Chemicals Inc., CIMBAR Performance Minerals, CSGLOBAL, Dev International, Guizhou Red Star Development Co. Ltd., IBC Ltd., Mil Spec Industries Corp., Milwhite Inc., Newpark Resources Inc., Sachtleben Minerals GmbH and Co. KG, Schlumberger Ltd., Sojitz Corp., SVA S.r.l., The Cary Co., Emprada Mines And Minerals LLC, J and H Minerals Pvt. Ltd., PVS global trade Pvt. Ltd., and Vishnu Chemicals Ltd, Ashapura Group; Demeter O&G Supplies Sdn Bhd; Excalibur Minerals Corp.; International Earth Products LLC; P & S Barite Mining Co., Ltd.; PVS Chemicals; SLB; The Andhra Pradesh Mineral Development Corporation Ltd AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered Type (Powder and Lumps), End-user (Drilling mud, Chemical manufacturing, Paints and coatings, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America), Application. Region Covered APAC, North America, Europe, Middle East and Africa, and South America Key companies profiled Anglo Pacific Minerals Ltd., BARIT MADEN TURK A.S., Barium and Chemicals Inc., CIMBAR Performance Minerals, CSGLOBAL, Dev International, Guizhou Red Star Development Co. Ltd., IBC Ltd., Mil Spec Industries Corp., Milwhite Inc., Newpark Resources Inc., Sachtleben Minerals GmbH and Co. KG, Schlumberger Ltd., Sojitz Corp., SVA S.r.l., The Cary Co., Emprada Mines And Minerals LLC, J and H Minerals Pvt. Ltd., PVS global trade Pvt. Ltd., and Vishnu Chemicals Ltd, Ashapura Group; Demeter O&G Supplies Sdn Bhd; Excalibur Minerals Corp.; International Earth Products LLC; P & S Barite Mining Co., Ltd.; PVS Chemicals; SLB; The Andhra Pradesh Mineral Development Corporation Ltd The Barite mining market is experiencing significant growth due to its extensive applications in various industries. One of the major sectors driving this demand is the Plastics industry, where Barite is used as a weighting agent in the production of plastic products, especially those based on petroleum. With increasing energy demand and the expansion of the Plastics industry, the market for Barite is expected to grow. Barite is also widely used as a radiation-proof material in structures shielding against gamma rays and X-rays. In the Oil & Gas industry, Barite is used as a drilling mud additive, improving the drilling process's efficiency. As a filler in paints and coatings, Barite enhances product quality and durability. In the Industrial sector, Barite is used in rubber products, cable cars, submarines, and ballast tanks for weight and stability. The Fine chemical market, particularly the Powder segment, is another significant consumer of Barite, used in the production of Barium sulfate, a key ingredient in X-ray machines, shielding panels, CT scans, and diagnostic tests. Barite is also used as a filler agent in the Paints industry, Coatings industry, and Cement industry. With the growing demand for white paint applications, the market for Barite is expected to expand. The Mining sector, including Oil & Gas and Mining, uses Barite for various purposes, such as in oil drilling, sedimentary rock analysis, and as a substitute for Calcite, Silica sand, or Celestite. Barite's versatility and wide range of applications make it an essential mineral in numerous industries, from the Plastics industry to the Oil & Gas sector and beyond. Despite its numerous applications, the Barite mining market faces challenges such as increasing competition from Barite substitutes like Nano-silica grains and the environmental impact of mining, including the carbon footprint. However, with ongoing research and development, the market is expected to continue its growth trajectory. Barite suppliers play a crucial role in meeting the market's demand for this versatile mineral. USP Barite, with its high purity levels, is in high demand in various industries, including the Pharmaceutical industry for the production of Iodine and tablets/capsules. In summary, the Barite mining market is experiencing growth due to its extensive applications in various industries, including the Plastics industry, Oil & Gas sector, and the Industrial sector. Despite challenges, the market is expected to continue its growth trajectory, driven by increasing energy demand and the expanding applications of Barite in various industries. The Middle East, home to significant oil and gas producers like Saudi Arabia, Iran, the UAE, and Iraq, witnessed growth in the barite market in 2021. Saudi Arabia, a major exporter of oil and gas globally, saw an increase in completed projects in its oil and gas sector due to substantial investments. This boosted the country's upstream and downstream capabilities, enabling it to reap benefits from cost-effective contracts and engineering services. In 2021, Saudi Arabia's oil industry, the largest contributor to its GDP, experienced in projects, driving the demand for barite in the region. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! . The Barite mining market faces challenges from the increasing use of plastic and petroleum-based products, which have a larger carbon footprint compared to barite. However, barite's unique properties as a radiation-proof material make it essential in various industries. In the energy sector, barite is used as a weighting agent in drilling mud for oil and gas exploration. In the industrial sector, barite is used as a filler in various applications such as automotive soundproofing material, brake linings, and X-ray machines. Barite suppliers face competition from substitutes like calcite and silica sand. The fine chemical market, particularly the powder segment, is a significant consumer of barium sulfate, the primary component of barite. The paints and coatings industry uses barite as a filler agent, while the rubber industry uses it for hydrostatic pressure applications. The demand for barite in radiation shielding applications, such as shielding panels in X-ray machines and CT scans, is expected to grow due to the increasing use of diagnostic medical tests. The USP barite market is driven by the demand for iodine in the pharmaceutical industry for the production of tablets and capsules. The prices of oil and gas, the primary consumers of barite in the drilling industry, impact the barite market. Barite is also used in various applications in the cement, cosmetics, and diagnostic medical tests industries. The mining of barite involves challenges such as the extraction of barite from sedimentary rock and the transportation of heavy barite ore using cable cars, submarines, and ballast tanks. The oil & gas industry's shift towards tight oil resources and the use of nano-silica grains as barite substitutes pose additional challenges to the barite mining market. . The price of crude oil significantly impacts the financial performance of upstream oil and gas companies. According to the International Energy Agency (IEA), the average price of crude oil rose from USD8/bbl to USD81.80/bbl between 2020 and 2022, reducing its discount to the North Sea Dated to its lowest level since March 2022 at USD12.20/bbl. However, in April 2020, the benchmark price for US crude oil briefly turned negative due to the global economic recession caused by the COVID-19 pandemic and an oil market collapse. The Asian Development Bank (ADB) reports that global oil demand decreased by 25% year-over-year (y-o-y) in April 2020, primarily due to a significant decline in domestic and international transport operations. These fluctuations in oil prices and demand can significantly impact the profitability of companies in the oil and gas industry. Insights into how AI is reshaping industries and driving growth- Download a Sample Report This barite market report extensively covers market segmentation by 1.1 Powder- The global barite market is experiencing notable growth, particularly in the barite powder segment. Barite powder, derived from the mineral barite or barium sulfate (BaSO4), is commonly used as a filler in various industries such as paints, plastics, and engine compartments for sound reduction. In the construction industry, it serves as a substitute for sand, enhancing the mechanical performance of concrete. Barite powder production surpassed 7.5 million metric tons in 2022. The oil and gas industry remains a significant consumer, while improvements in its use in the construction sector contribute to market expansion. Emprada Mines and Minerals Private, based in India, is among the providers of barite powder in various grades, catering to diverse applications. The powder's unique properties, including radiation shielding capabilities and improved mechanical strengths like compressive, flexural, splitting tensile, and modulus of elasticity, make it a valuable addition to various industries. These factors underpin the positive growth trajectory of the global barite powder market. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) The Barite Market is witnessing significant growth due to the increasing demand for barite in various industries, particularly in the Plastics and Petroleum-based products sectors. Barite, a mineral composed of barium sulfate, is widely used as a weighting agent in drilling mud for the oil and gas industry. In the Plastics industry, barite is used as an industrial filler in the production of plastic products, reducing their carbon footprint by improving density and reducing the need for additional raw materials. The Powder segment of the Barite Market is expected to dominate due to its wide application in various industries, including the production of radiation-proof structures for shielding against gamma rays and X-rays. The Barite Mining Market is expected to grow due to the increasing energy demand and the need for drilling mud in the oil and gas industry. Other significant applications of barite include use in the Fine Chemical Market, as a filler in rubber, and as a hydrostatic pressure agent in brake linings. The Barite market is witnessing significant growth due to its extensive applications in various industries, particularly in the production of Plastic and Petroleum-based products. Barite, a mineral composed of barium sulfate, is widely used as a weighting agent in drilling mud for Oil & Gas industry to enhance drilling efficiency. It also finds extensive usage in Radiation-proof structures as a radiation shielding material against Gamma rays and X-rays. In the Plastics industry, it acts as an industrial filler, reducing the carbon footprint by improving the density and durability of the final product. The Powder segment holds a major share in the market due to its wide applications in various industries, including the Fine chemical market, Paints and coatings, Textiles, and Rubber. Barite is also used in Hydrostatic pressure testing as a replacement for water and sand. In the Energy sector, it is used in the production of Nuclear fuel, Cable cars, Submarines, and Ballast tanks. In the Medical industry, it is used in X-ray machines, Shielding panels, CT scans, Diagnostic tests, Tablets, and Capsules. Barite is also used in the production of White paint applications, Adhesive industry, and Rubber industry. The demand for Barite is driven by the increasing Energy demand, Natural gas resources, Sedimentary rock, Lead, Zinc, Silver, and Oil prices. Barite suppliers are exploring new opportunities in Nano silica, Celestite, and Barite substitutes like Nano-silica grains to cater to the evolving market trends. 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: SOURCE Technavio MENAFN13122024003732001241ID1108991700 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. 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iHeartMedia Announces Early Results and Modification of the Terms of the Offers and Consent Solicitations for Existing Notes and Term Loans
WASHINGTON (AP) — A person accused of accosting U.S. Rep. Nancy Mace in a Capitol Office building pleaded not guilty on Wednesday to a misdemeanor assault charge. Witnesses told police that James McIntyre, 33, of Chicago, shook Mace's hand in an “exaggerated, aggressive” manner after approaching the South Carolina Republican in the Rayburn House Office Building on Tuesday evening, according to a police affidavit. Mace, who is identified only by her initials in a court filing, posted a string of social media messages about the incident. She said she was “physically accosted” at the Capitol, and she thanked President-elect Donald Trump for calling her Wednesday morning to check on her condition. “I’m going to be fine just as soon as the pain and soreness subside,” Mace wrote. Mace declined to be treated by a paramedic after her encounter with McIntyre, who was arrested Tuesday by the Capitol Police, the affidavit says. Mace told police that McIntyre said, “Trans youth serve advocacy,” while shaking her hand. Last month, Mace proposed a resolution that would prohibit any lawmakers and House employees from “using single-sex facilities other than those corresponding to their biological sex.” Mace said the bill is aimed specifically at Delaware Democrat Sarah McBride — the first transgender person to be elected to Congress. A magistrate judge ordered McIntyre’s release after an arraignment in Superior Court of the District of Columbia. Efforts to reach an attorney for McIntyre weren't immediately successful.Luigi Mangione’s arrest thrust his family into the spotlight. Who are the Mangiones of Baltimore?
Volkswagen is moving forward with plans to begin manufacturing a whole new class of vehicles under the Scout Motors brand. Scout was originally a sub-brand of International Harvester, with all the technological sophistication that name implies. The company started as a manufacturer of farming equipment and machinery, which means its products were tough and rugged but looked like they were created by people who designed tractors and combines for a living. That is not a knock on those original vehicles, whose market was not country club poseurs but farmers and people who needed vehicles that were as capable off road as on . There was a movement in the early ’60s toward such off-road capable machines. Ford brought the first Bronco to market and it was a tough as nails backwoods basher. Chevy countered with the original Blazer. They all were designed to counter the popularity of the Jeep and the thing they all had in common was four-wheel drive and a transfer case that allowed the driver to select between high-range and low-range operation. In low-range, the fairly modest four-cylinder engines were capable of ripping tree stumps out of the ground on demand. All of them were utilitarian in the extreme, with vinyl seats, rubber floor mats, and painted dashboards. After a hard day on the farm or out in the woods, you could wash the muck and mire out with a hose. They weren’t meant to be waxed, they were meant to work long hours with no complaints. That type of inherent ruggedness is what Volkswagen hopes to recapture with its new Scout-branded vehicles. The original plan was to make two models, a pickup truck and an SUV, both of which would be powered by batteries. But recently the company has announced it will also offer range-extender engines to calm the fears of those who worry about running out of battery charge without an EV charger — or an electrical outlet — nearby. Another part of the plan was to sell the new Scout vehicles directly to customers online the way Tesla does. That second part does not sit well with Volkswagen dealers in the US. In California, the dealers have hired legal counsel who have fired a warning shot across the bow of the parent company by sending a strongly worded cease and desist letter to the Volkswagen legal team. Cease and desist letters are how lawyers threaten each other’s clients without the expense and aggravation of actually filing suit. Autoblog reports that the California New Car Dealers Association claims the direct sales strategy violates a 2023 amendment to California’s State Vehicle Code which prevents automakers and their affiliates from bypassing their franchise dealerships. Here is the relevant part of that letter: Under Vehicle Code section 11713.3(o), automobile manufacturers and their affiliates are forbidden from competing with their own vehicle franchisees. Scout is an affiliate of VW under California law. Vehicle Code section 11713.3(z) defines ‘affiliate’ as “a person who directly oindirectly through one or more intermediaries, controls, is controlled by, or is under commonb control with, another person.” Since as early as 2022, VW has been directly band substantively involved in Scout’s development and revitalization of its vehicles, including VW’s investment of billions of dollars into a Scout production plant in South Carolina. The letter goes on to explain some of the background that preceded the passage of that section of the vehicle code by the California legislature: As background, Vehicle Code section 11713.3(o) was amended in 2023 by Assembly Bill 473 to prohibit automakers like VW from establishing affiliate brands to compete with dealers by directly selling vehicles. Scout was active throughout the legislative process, and the legislature adopted amendments in response to some of Scout’s arguments. On April 24, 2023, the California Assembly Committee on Transportation wrote: “Scout Motors is opposing [AB 473], arguing the anti-competition language in the bill ‘would serve to prohibit Scout Motors [...] from using newly appointed [independent] dealers, using existing independent dealers, or selling direct to California [residents.]’ To address this concern the author amended the bill to permit competition so long as the vehicle is being sold using new or existing franchisees to sell and service those vehicles. “[AB 473] would still prohibit Scout Motors or any new vehicle line from a manufacturer with a dealership network in California from being sold directly to bconsumers. Volkswagen, the parent company of Scout Motors, could sell Scout vehicles in the state if they sell them at any of their other vehicle line company’s bdealerships like Volkswagen, Audi, Porsche, Bentley or Lamborghini. Volkswagen Group could also create a new franchise network for Scout Motors if they want tonkeep a separate brand distinct from their other models. This provision would not affect Tesla, which does not have a dealership network to directly compete against. After the AB 473’s language was finalized, Mr. Sitron (Scout’s General Counsel) acknowledged that the law would prohibit Scout from selling Scout vehicles directly to California consumers: “AB 473, as amended, could effectively prohibit Scout Motors (or any other new to-the market manufacturer seeking to introduce new EV line-makes) from entering the California market. Under this language, a new-to-the-market manufacturer with new and innovative EVs would be statutorily banned from deciding its distribution model in California, potentially killing off any reasonable opportunity to operate in the state.” Scout Motors has argued that it operates independently from Volkswagen , a claim it says is central to its direct sales plan. The CNCDA disputes this, citing Volkswagen’s financial and operational involvement, including funding Scout’s new production facility in South Carolina. These connections, the association contends, make Scout an affiliate of Volkswagen rather than an independent startup like Tesla. A crucial difference may be that Tesla is grandfathered in the 2023 amendment to the California law whereas Scout Motors is not. In addition, Tesla had no existing vehicle manufacturing operation when it began selling electric cars. The piety of the new car dealers is questioned by Carscoops , which reports one Volkswagen dealer in the Golden State has slapped a $35,000 “market adjustment” on a Volkswagen ID. Buzz it has in stock. It’s hard to be sanctimonious when you are acting like a jerk in public. One of the reasons why Volkswagen wants to sell Scout vehicles directly to customers is because many people would prefer a root canal to arm wrestling with a dealer. That antipathy to the traditional dealer experience is why Hyundai has elected to begin selling its cars in selected markets through Amazon. Hyundai dealers are still part of the sales process, but the pricing is done online. That way, the usual haggling is eliminated, which will please many people but not those who think they can walk into a dealership every two or three years and do a better job of negotiating than those who do it for a living every day. Putting the legal shenanigans aside, we here at CleanTechnica intergalactic headquarters have to wonder how distinct the Scout vehicles will be. Are they being built on a new platform or on a version of the existing MEB platform or upcoming SSP platform? Will they use batteries that are materially different from what Volkswagen Group uses in its other electric models? And will they use different software than other cars from the group? If the answer to those questions is “no,” it is hard to see how Volkswagen can support its claim that Scout Motors is a “new to the market” manufacturer. There have already been hints that the new software partnership with Rivian could influence the design of the software package that will be incorporated into Scout vehicles. We don’t normally have good things to say about dealers, but it seems they have a legitimate complaint, at least in California. Dealers in other states are preparing to join the battle as well. Mike Stanton, the CEO of the National Automobile Dealers Association (NADA), has said his association is ready to challenge Scout “in courthouses and statehouses across the country.” He predicts that Scout’s plans to manage every aspect of the ownership experience through its app “will fail.” Daniel Crane, a professor at the University of Michigan Law School thinks dealer associations will pick states where they are the strongest to push back against the direct-to-consumer sales strategy. Scout vehicles will not even be for sale for several years. The factory is under construction and testing of prototypes has barely begun. Challenges to dealer franchise laws have been going on since Tesla first began selling the Model S online in 2012. Even Tesla has yet to win the right to sell directly to consumers in several states, including its home state of Texas. What Volkswagen is doing is a thumb in the eye to its US dealers, who have been clamoring for more models to sell — especially a pickup truck — for years. It has been thin times for Volkswagen dealers in America for several years, and right when the company has some exciting new models in the pipeline, it wants to cut its long-suffering dealers out of the loop. Is pushing for direct sales the right path for Scout Motors and Volkswagen or a poorly thought out strategy that is doomed to fail? We would love to hear what our readers have to say on that question. CleanTechnica's Comment Policy LinkedIn WhatsApp Facebook Bluesky Email Reddit
Robert Lewandowski joins Cristiano Ronaldo and Lionel Messi in 100 goal clubNEW ORLEANS (AP) — The largest artificial intelligence data center ever built by Facebook’s parent company Meta is coming to northeast Louisiana, the company said Wednesday, bringing hopes that the $10 billion facility will transform an economically neglected corner of the state. Republican Gov. Jeff Landry called it “game-changing” for his state's expanding tech sector, yet some environmental groups have raised concerns over the center's reliance on fossil fuels — and whether the plans for new natural gas power to support it could lead to higher energy bills in the future for Louisiana residents. Meanwhile, Elon Musk's AI startup, xAI, is expanding its existing supercomputer project in Memphis, Tennessee, the city's chamber of commerce said Wednesday. The chamber also said that Nvidia, Dell, and Supermicro Computer will be “establishing operations in Memphis,” without offering further details. Louisiana is among a growing number of states offering tax credits and other incentives to lure big tech firms seeking sites for energy-intensive data centers. The U.S. Commerce Department found that there aren’t enough data centers in the U.S. to meet the rising AI-fueled demand, which is projected to grow by 9% each year through 2030, citing industry reports. Meta anticipates its Louisiana data center will create 500 operational jobs and 5,000 temporary construction jobs, said Kevin Janda, director of data center strategy. At 4 million square feet (370,000 square meters), it will be the company's largest AI data center to date, he added. “We want to make sure we are having a positive impact on the local level,” Janda said. Congressional leaders and local representatives from across the political spectrum heralded the Meta facility as a boon for Richland parish, a rural part of Louisiana with a population of 20,000 historically reliant on agriculture. About one in four residents are considered to live in poverty and the parish has an employment rate below 50%, according to the U.S. census data. Meta plans to invest $200 million into road and water infrastructure improvements for the parish to offset its water usage. The facility is expected to be completed in 2030. Entergy, one of the nation's largest utility providers, is fast-tracking plans to build three natural gas power plants in Louisiana capable of generating 2,262 megawatts for Meta's data center over a 15-year period — nearly one-tenth of Entergy's existing energy capacity across four states. The Louisiana Public Service Commission is weighing Entergy's proposal as some environmental groups have opposed locking the state into more fossil fuel-based energy infrastructure. Meta said it plans to help bring 1,500 megawatts of renewable energy onto the grid in the future. Louisiana residents may ultimately end up with rate increases to pay off the cost of operating these natural gas power plants when Meta's contract with Entergy expires, said Jessica Hendricks, state policy director for the Alliance for Affordable Energy, a Louisiana-based nonprofit advocating for energy consumers. “There’s no reason why residential customers in Louisiana need to pay for a power plant for energy that they’re not going to use," Hendricks said. "And we want to make sure that there’s safeguards in place.” Public service commissioner Foster Campbell, representing northeast Louisiana, said he does not believe the data center will increase rates for Louisiana residents and views it as vital for his region. “It’s going in one of the most needed places in Louisiana and maybe one of the most needed places in the United States of America,” Foster said. “I’m for it 100%.” Environmental groups have also warned of the pollution generated by Musk's AI data center in Memphis. The Southern Environmental Law Center, among others, says the supercomputer could strain the power grid, prompting attention from the Environmental Protection Agency. Eighteen gas turbines currently running at xAI’s south Memphis facility are significant sources of ground-level ozone, better known as smog, the group said. Patrick Anderson, an attorney at the law center, said xAI has operated with “a stunning lack of transparency” in developing its South Memphis facility, which is located near predominantly Black neighborhoods that have long dealt with pollution and health risks from factories and other industrial sites. “Memphians deserve to know how xAI will affect them,” he said, “and should have a seat at the table when these decisions are being made.” Sainz reported from Memphis, Tennessee. Associated Press writer Matt O’Brien in Providence, Rhode Island, contributed to this report. Brook is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues. Follow Brook on the social platform X: @jack_brook96