White House Announces $3 Billion Plan for Electric Vehicle Battery Production
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
White House Announces $3 Billion Plan for Electric Vehicle Battery Production
White House Announces $3 Billion Plan , for Electric Vehicle Battery Production.
White House Announces $3 Billion Plan , for Electric Vehicle Battery Production.
CNBC reports that on May 2, the Biden administration said it will give $3.1 billion to aid in the production of electric vehicle batteries in America.
The funds are part of the $555 billion Bipartisan Infrastructure Law.
NBC News reports that administration officials
have cited surging gas prices amid
Russia's invasion of Ukraine as a viable reason
to begin shifting toward electric vehicles.
.
Weâve seen, even just in recent days, Putin trying to use Russiaâs energy supply as a weapon against other nations.
And that underscores why itâs so important that we in the United States reinvest and re-underwrite our own energy security, Brian Deese, director of the National Economic Council, via statement.
Gina McCarthy,
National Climate Advisor, said, "We need a lot of batteries, and we want American workers making those batteries right here in America.".
Gina McCarthy,
National Climate Advisor, said, "We need a lot of batteries, and we want American workers making those batteries right here in America.".
Meanwhile, the Department of Energy also said it will put forth another $60 million to help reuse and recycle EV batteries.
Energy Secretary Jennifer Granholm said the measures , âwill give our domestic supply chain the jolt it needs to become more secure and less reliant on other nations.â.
Energy Secretary Jennifer Granholm said the measures , âwill give our domestic supply chain the jolt it needs to become more secure and less reliant on other nations.â.
NBC News reports President Biden's goal
is to have electric vehicles comprise
half of American vehicle sales by 2030
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Biden Is Giving $6 Billion , to Micron Technology , for Semiconductor Production.
On April 25, President Biden will travel to Syracuse, NY, to announce over $6 billion in federal grants that his administration is awarding to Micron Technology, NPR reports. .
Senate Majority Leader Chuck Schumer, who was heavily involved in enacting the CHIPS and Science Act, issued a statement about the investment. .
This is the federal government taking back the reins, putting money where its mouth is when we say we want the future of tech to be stamped: 'Made in America.', Senate Majority Leader Chuck Schumer, via statement.
Micron will invest $100 billion of the funds to construct a manufacturing facility in Syracuse.
Schumer referred to the plan as "quite a
great return" on the government's investment.
A factory will also be built in
Boise, Idaho, NPR reports. .
That facility is expected to be ready for production by 2026, while two New York factories will likely be ready by 2028 and 2029.
The White House estimates that
the projects could create 20,000 jobs
in construction and manufacturing.
in addition to "tens of thousands of
indirect jobs in the regions," NPR reports. .
The CHIPS and Science Act has also provided funding for Intel, TSMC and Samsung
Credit: Wibbitz Top Stories Duration: 01:30Published
President Biden signs historic legislation securing billions in US aid for Ukraine and Israel, reaffirming America's commitment to global security. Despite criticisms over human rights abuses in Gaza, Biden emphasizes the 'ironclad' nature of US support for Israel's defense. Stay informed with the latest developments on international affairs.
#JoeBiden #Israel #Gaza #IsraelHamasWar #IsraelPalestine #IsraelPalestineWar #USPresident #USNews #USAidBill #RussiaUkraineWar #Oneindia
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16 Republican AGs Sue Biden Administration , for Pausing Liquid Natural Gas Exports.
The lawsuit was filed on March 21.
The states claim that the Biden administration
does not have the authority to deny
"federal permits for new liquid natural
gas (LNG) exports," 'The Hill' reports. .
The 16 attorneys general also allege
that the pause goes against Congress.
This ban disregards statutory mandates,
flouts the normal regulatory process, upends
the industry, disrupts Plaintiffsâ economies,
and subverts our constitutional structure, Via lawsuit.
These unlawful actions leave Plaintiffs
with no choice but to once more turn
to the courts to enforce the law, Via lawsuit.
The suit goes on to allege that the ban is
motivated by politics and comes "in the midst of an election year, and after a sustained pressure campaign from billionaire conglomerates, celebrities, âinfluencers,â and banks.".
The timing of the decision, in an election
year, raises the likelihood that political
motivations drove the action, House Oversight Committee Republicans,
in a letter to Energy Secretary Jennifer Granholm.
LNG, which is often considered to be
"a bridge between coal and renewables," was first pushed by the Obama administration.
LNG, which is often considered to be
"a bridge between coal and renewables," was first pushed by the Obama administration.
President Biden's pause on permits signifies
a stark contrast from his predecessor.
In February, the House passed a bill that would
strip the White House of its LNG permit authority
Credit: Wibbitz Top Stories Duration: 01:31Published
Netflix Exceeds Earnings Estimates , As Subscribers Increase.
Netflix Exceeds Earnings Estimates , As Subscribers Increase.
Netflix released a Q1 earnings report on April 18, indicating that its number of subscribers jumped 16% year-over-year to reach 269.6 million.
Analysts only expected the streamer to have about 264.2 million subscribers, CNBC reports. .
The company also brought in $9.37 billion in revenue versus analysts' expectations of $9.28 billion. .
However, Netflix said that its membership numbers are no longer the main factor contributing to the company's growth.
As a result, the company will stop providing "quarterly membership numbers or average revenue per user" beginning in 2025, CNBC reports. .
Instead, it will divulge "major subscriber milestones as we cross them.".
Price hikes, terminating password sharing
and offering an ad-supported tier are all tactics that have boosted revenue.
Netflix is also seeking to gain traction within the video game space and recently partnered with TKO Group Holdings to offer WWE on the platform.
Weâre in the very early days of
developing our live programming and
I would look at this as an expansion of
the types of content we offer, the way
we expanded to film and unscripted and
animation and most recently games, Ted Sarandos, co-CEO of Netflix, via earnings call.
We believe that these kind of event cultural
moments like the Jake Paul and Mike Tyson
fight are just that kind of television, and we
want to be part of winning over those
moments with our members as well, so that
for me is the excitement part of this, Ted Sarandos, co-CEO of Netflix, via earnings call.
As of the morning of April 18,
Netflix's stock was up 27%
Credit: Wibbitz Top Stories Duration: 01:30Published
Google Fires Employees , for Protesting Israel Contract.
28 Google workers have been fired for protesting
a $1.2 billion contract that the company has with
the Israeli government and military to provide
cloud and AI services, NBC News reports. .
The firings follow an April 16 sit-in at
Google's offices in California, New York and Seattle in which nine workers were arrested.
The group that coordinated the demonstration
is known as No Tech for Apartheid. .
Google issued a statement about the recent firings.
A small number of employee
protesters entered and disrupted
a few of our locations. , Google spokesperson, via statement.
Physically impeding other employeesâ
work and preventing them from
accessing our facilities is a clear
violation of our policies, and
completely unacceptable behavior. , Google spokesperson, via statement.
We have so far concluded
individual investigations that
resulted in the termination of
employment for 28 employees,
and will continue to investigate
and take action as needed, Google spokesperson, via statement.
No Tech for Apartheid claims that the
workers were fired "indiscriminately.".
This excuse to avoid confronting
us and our concerns directly,
and attempt to justify its illegal,
retaliatory firings, is a lie, No Tech for Apartheid, via statement.
Meanwhile, many of Google's workers have
reportedly quit after experiencing "mental health consequences of working at a company that is using their labor to enable a genocide," No Tech for Apartheid said.
On a personal level, I am opposed
to Google taking any military
contracts â no matter which
government theyâre with or what
exactly the contract is about. , Cheyne Anderson, a Google Cloud software engineer based
in Washington who was arrested during a sit-in, to CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
Amazon Cuts Hundreds , of Cloud Computing Jobs.
An Amazon Web Services (AWS)
spokesperson issued a statement about
the job cuts on April 3, CNBC reports. .
Weâve identified a few targeted areas of
the organization we need to streamline
in order to continue focusing our efforts
on the key strategic areas that we
believe will deliver maximum impact, AWS spokesperson, via statement.
We didnât make these decisions
lightly, and weâre committed
to supporting the employees
throughout their transition to new
roles in and outside of Amazon, AWS spokesperson, via statement.
Cuts are being made to the store technology division âas a result of a broader strategic shift in the use of some applications in Amazonâs owned as well as in third-party stores,â the spokesperson said.
The layoffs come after Amazon announced that it was ending its Just Walk Out technology in Fresh stores.
The cashierless technology is overseen
by teams within the AWS unit. .
Beginning in 2022, Amazon started
its largest layoffs in history by letting
go of 27,000 roles company-wide. .
So far in 2024, the retail behemoth has cut jobs at Audible, Buy with Prime, Prime Video, MGM Studios and Twitch, CNBC reports. .
This latest round of cuts will
allow U.S. employees to collect pay
and benefits for a minimum of 60 days.
They will also be offered a severance package.
Credit: Wibbitz Top Stories Duration: 01:30Published
UPS to Become US Postal Serviceâs , Main Air Cargo Provider.
On April 1, United Parcel Service announced
that it will replace FedEx as the primary air
cargo provider for the USPS, CNBC reports. .
On April 1, United Parcel Service announced
that it will replace FedEx as the primary air
cargo provider for the USPS, CNBC reports. .
FedEx is walking away from a
22-year partnership after failing to
secure a better contract with the agency. .
FedEx is walking away from a
22-year partnership after failing to
secure a better contract with the agency. .
In fiscal year 2023, USPS paid FedEx $1.73 billion
for its services, down from the $2.4 billion
FedEx received in fiscal year 2020.
The decrease in payments was partially due
to the postal service using more economical
trucks in place of planes, CNBC reports. .
The parties were unable to reach
agreement on mutually beneficial
terms to extend the contract, FedEx, via securities filing.
Since FedEx will lose nearly $2 billion in annual
business from letting go of the contract, .
hundreds of pilots will likely
lose their jobs, CNBC reports .
Following the announcement, UPS shares
increased 1.4% while FedEx stock dropped 1.6%.
FedEx's current contract is
set to expire on Sept. 29
Credit: Wibbitz Top Stories Duration: 01:30Published
Krispy Kreme to Be Sold , at McDonaldâs Nationwide.
Krispy Kreme to Be Sold , at McDonaldâs Nationwide.
Both food chains made the announcement
on March 26, CNBC reports. .
The rollout will start later this year but will take until the end of 2026 to reach McDonald's nationwide. .
That's because Krispy Kreme will have
to "more than double its distribution"
to meet demand, CNBC reports. .
We think we can service about
6,000 restaurants with our existing
infrastructure, mostly doughnut
shops, which have excess capacity, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Shares of Krispy Kreme jumped 22%
following the announcement.
Krispy Kreme is also expanding distribution
to grocery and convenience stores.
That means that the overall efficiency
and productivity of our distribution network will significantly improve over time, not just
because of all those local deliveries. , Krispy Kreme CEO Josh Charlesworth, to CNBC.
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonaldâs
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonaldâs
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
As soldiers wait for more ammunition and air defence support from international allies, a drone team arrives at a dugout near the eastern town of Bakhmut.
Credit: euronews (in English) Duration: 02:00Published
Defence Minister James Cartlidge says that supplying munitions to Ukraine has depleted the UKâs stockpiles as he outlines the reasons for an increase in defence spending. His comments come after Rishi Sunakâs new pledge that the UK will spend 2.5% of its gross domestic product (GDP) on defence by the end of the decade, amounting to 75 billion pounds. Report by Czubalam. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Russia Vetoes UN Resolution , to Prevent Nukes in Space.
The resolution was sponsored
by Japan and the United States.
It called on all nations to refrain from developing or deploying nuclear weapons "or other weapons of mass destruction in space," 'The Guardian' reports. .
A 1967 international treaty
already bans such weapons in space.
Russiaâs U.N. Ambassador, Vassily Nebenzia,
vetoed the resolution, calling it "absolutely absurd and politicized," as well as a "dirty spectacle.".
China abstained from voting, while the rest of the 15-member council voted in favor of the resolution. .
Todayâs veto begs the question:
Why? Why, if you are following the
rules, would you not support a
resolution that reaffirms them?
What could you possibly be hiding, Linda Thomas-Greenfield, U.S. ambassador to the U.N., via 'The Guardian'.
Russia and China would rather establish an
amendment calling on all nations "to prevent for
all time the placement of weapons in outer space, and the threat of use of force in outer spaces.".
We want a ban on the placement of
weapons of any kind in outer space, not
just WMDs [weapons of mass destruction].
But you donât want that. And let me ask
you that very same question. Why?, Vassily Nebenzia, Russiaâs U.N. ambassador, via 'The Guardian'.
Nebenzia went on to say, "if we recall that the U.S. and their allies announced some time ago plans to place weapons ⊠in outer space.".
The U.S.-Japan resolution was announced in March after it was determined that Russia was in possession of "a 'troubling' anti-satellite weapon capability," 'The Guardian' reports.
However, earlier this year, Putin said, , "Our position is clear and transparent: We have always been categorically against and are now against the deployment of nuclear weapons in space."
Credit: Wibbitz Top Stories Duration: 01:31Published
Senate Passes $95 Billion , Foreign Aid Package.
On April 23, the U.S. Senate voted
79-18 to approve foreign aid for Ukraine,
Israel and Taiwan, 'The Guardian' reports. .
Today the Senate sends a unified
message to the entire world:
America will always defend
democracy in its hour of need, Senate Majority Leader Chuck Schumer, via statement.
Make no mistake, America will deliver
on its promise to act like a leader on the
world stage, to hold the line against
autocratic thugs like Vladimir Putin. , Senate Majority Leader Chuck Schumer, via statement.
The package includes $60.8 billion for Ukraine,
$26.3 billion for Israel and $8.1 billion for Taiwan.
The package includes $60.8 billion for Ukraine,
$26.3 billion for Israel and $8.1 billion for Taiwan.
The package includes $60.8 billion for Ukraine,
$26.3 billion for Israel and $8.1 billion for Taiwan.
A provision to ban TikTok
after the election if ByteDance refuses
to sell the platform is also included.
The legislation will now head to President Biden, who told Ukrainian President Volodymyr Zelensky on
April 23 that he will "move quickly" to provide aid.
Senate Majority Leader Chuck Schumer praised House Speaker Mike Johnson, .
Senate Majority Leader Chuck Schumer praised House Speaker Mike Johnson, .
with whom he worked "hand in hand and shoulder to shoulder to get this bill done.".
A lot of people inside and
outside the Congress wanted this
package to fail. But today those in
Congress who stand on the side of
democracy are winning the day, Senate Majority Leader Chuck Schumer, via statement.
Senate Republican Leader Mitch McConnell also issued a statement.
Todayâs action is overdue, but our work
does not end here. Trust in American
resolve is not rebuilt overnight. Expanding
and restocking the arsenal of democracy
doesnât just happen by magic, Senate Majority Republican Leader Mitch McConnell, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
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