Author: omc_admin

When Sriram Krishnan, a senior White House policy advisor on artificial intelligence, appeared onstage at an event in Washington last month, he listed the Trump administration’s priorities for advancing the AI revolution.At the top of the list? More construction.”Let’s make sure we build our infrastructure,” Krishnan said. “‘Build, baby, build’ is what we tell people.”That rallying cry is echoing across Silicon Valley. Executives at Meta say they expect to spend $600 billion on AI infrastructure, including massive data centers, through 2028. OpenAI and Oracle have announced plans to put $500 billion into a data center project dubbed Stargate, while Amazon…

When I booked my vacation this year, I spent about a month tracking flights and weighing various layover scenarios, and eventually used a year’s worth of hoarded credit card points plus about $280 out of pocket to get a flight in an economy seat to Croatia.Could this all have been easier and cheaper if I’d used AI? It’s possible some artificial intelligence played a role in what I booked and paid. AI has seeped into every corner of the travel industry: It’s pricing flights, examining dents on rental cars with eagle-eyed precision, blocking suspicious-looking Airbnb bookings, and parsing the air…

Rising global oil output, meanwhile, is expected to keep prices falling, leaving the majors facing some difficult decisions.The five biggest global oil majors are moving to cut costs, jobs and share buybacks as falling oil prices threaten to make shareholder payouts unsustainable without increasing debt, analysts said.Chevron, ExxonMobil, BP, Shell and TotalEnergies have pledged high returns for the past decade to avert an investor exodus as fossil fuels lost their appeal. But maintaining those generous payouts, which have topped $100 million annually since 2022, has increasingly been funded by debt as energy prices retreated from highs caused by sanctions and…

Subscribe To NotificationsScan QR code to install appImportant DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you,…

The East African country of Kenya has launched a nationwide programme worth 6 billion Kenyan shillings (around 39.5 million euros) to build charging infrastructure for electric vehicles, with the aim of establishing at least 10,000 public charging stations by 2030. According to a strategy paper from the Ministry of Energy and Petroleum, Kenya plans to build the country’s charging network in three phases: The first phase will see 1.18 billion shillings invested in charging stations in 17 priority cities and along key transport corridors such as the Mombasa–Busia route. This will be followed by an investment of 1.81 billion shillings…

Ioncor, Valmet Automotive’s battery business that was spun off in 2024 and has since been partially nationalised, is presenting its new Energy Pack Long cell-to-pack battery system for electric buses. It has a capacity of 79 kWh per pack, and several packs can be combined to form large batteries. Ioncor presents the Energy Pack Long, a battery system that does not require modules thanks to its cell-to-pack approach. The solution operates at 666 volts and, thanks to its modular architecture, can be scaled to total capacities between 79 and 1,000 kWh. According to Roberts Abele, CEO of Ioncor, the new…

Orsted A/S raised 60 billion Danish kroner ($9.4 billion) through a rights offering that’s critical for the company to tackle the downturn facing the wind power industry. The fund raise, the biggest for a European energy company in over a decade, will allow the state-backed Danish firm to shore up its balance sheet after the Trump administration’s moves against offshore wind upended Orsted’s business model.  Investors took up 99.3 percent of the more than 900 million shares offered in the fully underwritten capital increase, according to a statement late Monday. The company said demand for the shares was “extraordinarily high.” Orsted…

Ørsted has completed its widely publicized rights issue at a heavily discounted price, raising the target amount of 59.56 billion crowns, equal to some $9.35 billion.According to the company, 99.3% of the issue was subscribed for by existing and new shareholders, but of that total, the Danish state subscribed for just over 50%. Ørsted also said that orders for additional shares will be filled by the allocation of an additional 22,446 shares, on top of the original issue of around 900,000,000 shares.The issue was priced at 66.60 crowns apiece, or $1.04—a heavy discount on the wind power developer’s share price,…

Strava and Garmin are having a fallout, and athletes on TikTok are not happy about “mum and dad fighting.”Strava, a San Francisco-based fitness tracking app, filed a lawsuit against tech company Garmin in a Colorado court on September 30, accusing the latter of patent infringement and a breach of contract.Social media has not taken the fallout well. Athletes on TikTok have posted videos about how “mum and dad are fighting,” referring to how two of the biggest names in the fitness sphere have clashed, and how it might impact their user experience.Holly Brooks, an LA-based fitness influencer, joked that while…

Europa Oil & Gas (Holdings) PLC has received a 12-month extension to the initial two-year term of the EG-08 exploration block from Equatorial Guinea’s hydrocarbons and mining development minister. The block spans 731 square kilometers (282.24 square miles) in the Douala Basin in the waters of the Central African country, according to Europa. EG-08 lies adjacent to the north of Chevron’s Alen and Anseng fields. “The formalities to finalize the extension are ongoing and are expected to be completed in the coming days”, London-based Europa said in a statement on its website. “As a result of the extension, the first sub-period…