Tesla sales in Europe plummet 40% while Chinese rival BYD sees sales triple

Tesla's declines took place even as overall sales of battery electric cars rose in Europe, ACEA data showed.

Chinese car brands, which often have relatively cheaper models, have been expanding aggressively in Europe.

Reference Sources

(Source: Shutterstock)

Intel received $5.7 billion from the US government on Wednesday evening as part of the White House's decision to take a 10% stake in the beleaguered computer chip company.

CFO David Zinser also signaled the possibility that Intel seeks outside investment for its foundry business.

The company reported better-than-expected second-quarter results on July 25, but its shares sank 8% due to concerns over the business of its foundry unit, which manufactures computer chips for other firms.

The Trump administration's investment in Intel was structured to deter the chipmaker from selling its manufacturing unit, its CFO said on Thursday, locking it into a loss-making business it has faced pressure to offload.

The US government last week agreed to take a 10% stake in Intel by converting $8.9 billion of Federal grants under the 2022 Chips Act into equity, the latest unorthodox intervention by President Donald Trump in corporate America.

The agreement also contains a five-year warrant that allows the government to take an additional 5% of Intel at $20 a share if it ceases to own 51% of its foundry business, which aims to make chips for third-party clients. Handing over 10% of the company for no extra money hardly looks like a good deal for shareholders, and could still result in legal challenges.

Reference Sources

1. cnbc - Intel gets $5.7 billion from Trump deal as White House says details are 'being ironed out'
2. washingtonpost - How Trump’s stake in Intel mirrors state ownership in Europe, Taiwan
3. ft - Trump-Intel deal designed to block sale of chipmaking unit, CFO says
4. ft - Why Intel investors have embraced an interventionist White House
5. thestarmy - Intel CFO says chipmaker has received $5.7 billion in outstanding CHIPS Act grants under Trump deal

 Japan uses AI-generated eruption of Mount Fuji to prepare Tokyo for worst-case scenario

(Source: AP)

For Volcanic Disaster Preparedness Day, Japanese officials have released Computer- and AI-generated videos showing a simulation of a potential violent eruption of Mount Fuji.

The videos, released this week, are meant to prepare the 37 million residents in the greater Tokyo metropolitan area for potential disasters.

The Tokyo Metropolitan Government’s video warns that an eruption could strike “at any moment, without warning,” depicting volcanic ash shrouding central Tokyo, about 100 kilometers away, within hours, paralyzing transportation, disrupting food and power, and causing long-term respiratory problems.

The video ends with the message: “We need to arm ourselves with facts and prepare for disaster in our daily Lives. ” Representatives of both the Tokyo Metropolitan Government and Japan’s Cabinet Office Disaster Prevention Division said they had not received complaints from Tokyo residents about the videos.

University of Tokyo professor and risk communication expert Naoya Sekiya said the government has for years modeled scenarios for volcanic eruptions and earthquakes, but added that does not mean Fuji is about to erupt.

Japan is highly vulnerable to natural disasters because of its climate and topography, and is known for its meticulous disaster planning, which spans earthquakes, typhoons, floods, mudslides, and volcanic eruptions.

Reference Sources

1. yahooen - Japan uses AI-generated eruption of Mount Fuji to prepare Tokyo for worst-case scenario

The CommonWealth English daily news digest is a service curated by CommonWealth English team with the help of AI tools.

Have you read?

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