The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing, Reuters reported.Technologyread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
The two countries want to smash the civil aerospace duopoly enjoyed by Airbus and Boeing.Aerospace & Defenseread more
Federal Reserve Chairman Jerome Powell is set to deliver his annual speech on Friday at the Jackson Hole, Wyoming symposium, where he's expected to provide more clarity on the...Asia Marketsread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
U.S. and Asian investors poured $3.7 billion into U.K. tech start-ups in the first seven months of 2019, research shows.Technologyread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately told business executives and free traders that the trade war could end by the 2020 election and that hurdles to an immediate agreement...2020 Electionsread more
Google parent company Alphabet is in discussions to spin out a molten-salt energy storage project in a transaction with Breakthrough Energy Ventures, a $1 billion fund devoted to energy research, MIT Technology Review reported.
It is unclear if a deal has been finalized or how much money may be involved.
Nobel Prize winner Robert Laughlin is leading the energy storage effort, code-named Project Malta. The plan is to store thermal energy, converted from solar and wind electricity, in giant tanks of molten salt. The technique could prove cheaper and more efficient for longer-term storage of renewable energy.
Now a physics professor at Stanford, Laughlin revealed in a talk that a deal was in the works. In the abstract of the talk, McLaughlin mentions "secret project at X code named 'Project Malta,'" and says that "spinoff activity associated with Bill Gates's Breakthrough Energy Ventures is presently underway," MIT Technology Review reported. The abstract also references a patent, issued to Google and X Development in April, for molten-salt technology.
X is a division of Alphabet devoted to long-term research projects and was formerly known as Google X.
Energy storage can overcome the biggest limitation of modern renewable power, which is why it is one of the primary areas of focus for Breakthrough Energy Ventures. The $1 billion investment fund boasts an all-star roster of investors along with Gates, including Jeff Bezos, Jack Ma and Richard Branson.