Author: omc_admin

Lexus has broken ground on its first wholly-owned EV factory in China. The Shanghai plant will produce up to 100,000 electric vehicles annually from 2027, marking Toyota’s push to accelerate electrification in the world’s largest EV market. The factory is located in the Jinshan district of southwest Shanghai and is expected to be completed in August 2026 before ramping up operations in 2027. According to local government announcements, the plant will have an annual production capacity of up to 100,000 vehicles and create an estimated 1,000 jobs during initial production. “Toyota aims to leverage the project to accelerate its transition…

Jeff Bezos’ superyacht, Koru, has attracted the interest of yachting industry insiders and celebrity watchers alike since it first set sail in 2023.The boat has hosted several events for the Amazon founder and his wife, Lauren Sánchez, including a foam party for Sánchez’s son Evan Whitesell’s birthday ahead of their June 2025 wedding in Venice, Italy.Named after the Māori word for “loop” or “coil,” the 417-foot-long vessel is one of the world’s largest sailing yachts and cost Bezos an estimated $500 million. (Still, at that price tag, it likely would not have made a sizable dent in Bezos’ net worth.)Bezos…

In December, Rep. Thomas Massie used an analogy for foreign aid that was an instant hit among his libertarian and America-First Republican fans.”US foreign aid spending is like watering the neighbor’s yard while your house is on fire,” the Kentucky Republican posted on X, adding a fire emoji. Fox News wrote an article about it, and two months later, the libertarian student group “Young Americans for Liberty” turned it into an Instagram post.As it turns out, Massie didn’t come up with the line himself. Grok did.Massie told BI this month that he ripped the phrase from a speech he asked…

Serbia’s largest energy producer was spared sanctions by the United States for another month on Friday, extending an early reprieve for the majority Russian-owned firm.NIS, which operates the country’s only oil refinery, said in a statement to AFP that the US government had agreed to delay sanctions – first announced in January as part of Washington’s crackdown on the Russian energy sector.”The US Department of the Treasury has issued a new special license postponing the full implementation of sanctions,” NIS said.Majority owned by energy giant Gazprom, the company has now managed to negotiate four extensions to avoid a broad package…

California should pause Gov. Gavin Newsom’s plan to penalize oil companies if their profits climb too high, a top energy regulator said Friday while unveiling proposals aimed at addressing high gas prices.The Democratic governor signed a law in 2023 giving the California Energy Commission the authority to penalize oil companies for excess profits, declaring the state had “finally beat big oil.” More than two years later, the commission hasn’t imposed a single penalty or determined what counts as an excessive profit. Now, Siva Gunda, the energy commission’s vice-chair, says the state should pause the effort in favor of pursuing other…

States should be able to continue politically even if their land disappears underwater, legal experts have said.The conclusions come from a long-awaited report by the International Law Commission that examined what existing law means for continued statehood and access to key resources if sea levels continue to rise due to climate breakdown.Average sea levels could rise by as much as 90cm (3ft) by 2100 if climate scientists’ worst-case scenarios come true, and recent research suggests they could even exceed projections. This is particularly important for small island developing states because many face an existential threat. But as well as the…

(Bloomberg) — France’s TotalEnergies SE is in talks with at least two suitors who have submitted bids for its shale oil assets in Argentina, according to people familiar with the matter. Progress with the divestment comes after CEO Patrick Pouyanne said earlier this year that he’d be willing to offload stakes in the fields at the right price. Total declined to comment. Crude production in the Vaca Muerta shale formation is growing, topping 442,000 barrels a day in April, 22% more than a year earlier. But much of that is being pumped by homegrown companies.  Global players like Exxon…

The most important matter, gray matter that is, sits right at the surface.At least that’s the line from Dr. Ben Rapoport, the cofounder and chief science officer of Precision Neuroscience, a brain-computer interface, or BCI, company.”Many people have the impression that the data that we care about is sort of everywhere inside this dimensional structure,” Rapoport, a neurosurgeon and engineer, told Business Insider.That’s a big misconception, he said. People often incorrectly assume that “you need electrodes that penetrate deep inside the brain to get that information out,” he added.But brain implants don’t need to be as invasive as they might…

(World Oil)– The Bureau of Ocean Energy Management (BOEM) has published a Proposed Notice of Sale (PNOS) for Lease Sale 262, the first of three offshore auctions in the Gulf of America under the 2024–29 Outer Continental Shelf Leasing Program. The sale would offer about 15,000 unleased blocks—roughly 80 million acres—located 3 to 231 miles offshore in water depths from 9 ft to more than 11,100 ft. “Offshore oil and gas play a vital role in our nation’s energy portfolio, with the Gulf of America supplying 14 percent of domestically produced oil,” said Matt Giacona, BOEM’s principal deputy director. “This…

Brian Tycangco, editor at Stansberry Research, commented: “Some news circulating BYD has started cutting production by reducing night time shifts at some of its plants as per Reuters. I’d take that with a grain of salt given the past week’s strong insurance registration numbers for the brand.” Iran-Israel Ceasefire Triggers Market Rebound US airstrikes on key Iranian nuclear sites pushed Iran and Israel to agree to end airstrikes on June 24, driving demand for risk assets. Hong Kong and Mainland markets reacted to the news, as the ceasefire removed the threat of oil supply disruption. The truce also raised hopes…