A flare stack burns beyond oil storage tanks at the Taneco Oil Refining and Petrochemical complex, operated by Tatneft PJSC, in Nizhnekamsk, Tatarstan, Russia, on March 5, 2019. Bloomberg | Bloomberg | Getty Images Oil prices on Tuesday rose to their highest level since October as investors closely monitored fresh supply threats amid an escalating … Read more
A liquefied natural gas tanker sails past a container terminal as it arrives in Yokohama, Japan, May 21, 2018. Tomohiro Ohsumi | Bloomberg | Getty Images Natural gas prices have plunged as the world grapples with an oversupply after a warmer-than-expected winter. The recent heyday in liquefied natural gas boosted prices and profits, spurring a … Read more
KYIV, Ukraine — Moscow launched a large-scale attack on Ukraine’s energy infrastructure Friday, with a mass barrage of 99 drones and missiles hitting regions across the country, Ukraine’s armed forces said. Air raid warnings rang out across the country, with 10 Ukrainian regions coming under fire, the country’s Interior Minister, Ihor Klymenko, said. Russia has … Read more
“There’s a massive difference in the amount of heat that our system is putting out when a user asks for heat to be comfortable versus a radiator which dumps tons of extra heat into the room,” says Vince Romanin, CEO of Gradient. “If they’re able to set that temperature on a per-room basis, not a … Read more
CHENGDU, China — A decade ago, Tongwei Group was a maker of fish food and livestock feed. Today, the company, based in this famously overcast corner of southwest China, is the world’s largest producer of solar cells, the components of panels that turn sunlight into electricity. At its $2.8 billion facility on the outskirts of … Read more
Indicted FTX founder Sam Bankman-Fried leaves the U.S. Courthouse in New York City, July 26, 2023. Amr Alfiky | Reuters FTX founder Sam Bankman-Fried was sentenced to 25 years in prison on Thursday for the massive fraud and conspiracy that doomed his cryptocurrency exchange and a related hedge fund. “They built something really beautiful and … Read more
Government exhibit in the case against former FTX CEO Sam Bankman-Fried. Source: SDNY While prosecutors are requesting that FTX founder Sam Bankman-Fried spend 40 to 50 years in prison for his crimes, the defense team is urging the judge to consider a sentence that’s roughly 90% shorter. Bankman-Fried’s fate will be announced in Manhattan on … Read more
Samuel Bankman-Fried’s poster in downtown San Francisco. MacKenzie Sigalos | CNBC Two years ago, Sam Bankman-Fried was a 30-year-old multibillionaire living in a $35 million Bahamas penthouse, partying with his pals while running one of the world’s most valuable crypto companies. Today, he’s a 32-year-old inmate at the Metropolitan Detention Center in Brooklyn, waiting for … Read more
A smartphone with displayed Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. Dado Ruvic | Reuters The Securities and Exchange Commission scored a major win in its lawsuit against Coinbase on Wednesday, as a judge ruled that its claim that the cryptocurrency exchange engaged in … Read more
In this photo illustration, Anthropic logo is seen on a smartphone screen. Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images Bankrupt crypto exchange FTX has struck a deal with a consortium of buyers to sell the majority of its stake in artificial intelligence startup Anthropic for $884 million, according to a filing submitted … Read more