A shortage of boats capable of installing wind turbine foundations on the ocean floor could delay new projects next year.
Power plants will be paid 15% less next year to provide backup electricity on the largest U.S. grid, a blow to aging coal units that have already struggled against cheap renewable energy.
Publication of the annual Statistical Review of World Energy is transitioning from BP to the Energy Institute, a professional association. BP, which has published the key source of global industry information for 71 years, will continue contributing to the report.
Stellantis and unions signed an agreement to cut up to 2,000 workers from the carmaker’s Italian operations this year.
Tesla’s German plant in Brandenburg has quadrupled production since May to about 4,000 vehicles per week.
The U.S. Energy Department will lend Li-Cycle Holdings $375 million as it builds a battery recycling facility in New York set to become one of the country’s largest sources of lithium next year.
Stellantis invested $155 million for a minority stake in a copper mine in Argentina as part of its global push to secure raw materials for electric-vehicle batteries.
Electric-vehicle startup Fisker reported increased orders for its SUV and maintained its production forecast for the year, sending its shares higher.
New orders for key U.S.-manufactured capital goods rose by the most in five months in January, suggesting business spending on equipment picked up to start the first quarter. Orders for durable goods, meanwhile, sank 4.5% month over month.
The chief economist for the European Central Bank proclaimed that it is winning the inflation fight in the euro zone but that further rate hikes are ahead, including a 50-basis-point increase in March.
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