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  • Hyundai Motor Breaks Ground on Hydrogen Fuel Cell Production Facility in Korea

    Advancing Core Technologies

    The facility aims to position Hyundai Motor at the forefront of global hydrogen technology through two key products:

    • Next-generation hydrogen fuel cell: Hyundai Motor targets enhancing both power output and durability compared to current models while achieving price competitiveness to lead the global market. Fuel cells generate electricity through electrochemical reactions between hydrogen and oxygen, functioning as onboard power generators.
    • PEM electrolyzers: The plant will produce high-efficiency polymer electrolyte membrane (PEM) electrolyzers as first production in Korea. These electrolyzers generate high-purity hydrogen from water without carbon emissions — a critical technology for achieving global net-zero targets. Drawing on nearly three decades of fuel cell development expertise, the company has achieved approximately 90 percent localization of electrolyzer components.

     

    The company has already developed an electrolyzer stack and in February completed a 1 MW containerized electrolyzer system that is currently in demonstration operation, producing more than 300 kg of high-purity hydrogen daily. A 5 MW-class large-scale project is currently under development in Jeju, Korea, with the goal of establishing a complete green hydrogen ecosystem.

    Advanced Manufacturing Platform

    Hyundai Motor plans to operate the new Ulsan hydrogen fuel cell production facility as an advanced manufacturing platform incorporating core technologies from its accumulated human-centered manufacturing expertise.

    The plant will extensively deploy robotics technologies to reduce worker strain while enhancing operational efficiency. Advanced monitoring systems will detect even minute safety hazards to protect workers.

    Expanding the Hydrogen Ecosystem

    The fuel cells produced will be optimized for different applications, from passenger vehicles to commercial trucks, buses, construction equipment and marine vessels.

    Beyond fuel cells, Hyundai Motor Group is developing comprehensive solutions across the hydrogen value chain — from resource-circular production to storage, transport and utilization — while building partnerships with governments, global companies and research institutions.

    The groundbreaking ceremony is expected to serve as a platform for collaboration among government, local authorities and industry stakeholders, reinforcing a unified approach toward accelerating the hydrogen economy. Hyundai Motor aims to strengthen its global leadership in hydrogen and expand strategic partnerships to support carbon neutrality and ecosystem development.

    Attendees at the ceremony viewed multiple generations of fuel cells and electrolyzers, along with hydrogen-powered vehicles including the all-new NEXO SUV, trucks, excavators, vessels, tractors and forklifts — showcasing the extensive applications of hydrogen mobility.

    The facility is expected to scale production in line with market growth, contributing to the expansion of the global hydrogen ecosystem and supporting infrastructure development.

    At the ceremony, Hyundai Motor and Korean bus manufacturer KGM Commercial signed a Memorandum of Understanding (MoU) for fuel cell supply, highlighting the plant’s pivotal role in advancing Korea’s hydrogen ecosystem.


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  • Asian Stocks Mixed as Powell Cautious on Rate Cut: Markets Wrap

    Asian Stocks Mixed as Powell Cautious on Rate Cut: Markets Wrap


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    (Bloomberg) — Asian stocks struggled for direction after Federal Reserve Chair Jerome Powell cautioned about further interest-rate reductions, saying a cut in December isn’t a foregone conclusion.

    A gauge tracking the region’s stocks was little changed Thursday while South Korean shares gained after striking a trade deal with the US. Contracts for US indexes swung in between gains and losses. Government bonds in Australia and New Zealand tracked Wednesday’s losses in Treasuries, with the yield on the US 10-year trading at 4.07% in early Thursday trading. Gold edged up after four days of losses.

    Earnings from tech megacaps were also mixed. Meta Platforms Inc. shares fell 7.7% in extended trading while Alphabet Inc. jumped 6%. Microsoft Corp. also retreated after earnings. Samsung Electronics Co. shares edged up after profit beat estimates.

    Following the Fed’s expected rate cut, Powell’s caution about future moves and his focus on labor market risks led investors to scale back easing bets. Against this backdrop, markets now await policy signals from the Bank of Japan and the European Central Bank later Thursday, while also watching the upcoming meeting between President Donald Trump and Xi Jinping for clues on the world’s largest trade dispute.

    “Asian markets will certainly start on the back foot today” after anticipation of a Fed cut in December and more an 2026 had spurred global stocks to record highs in recent weeks, said Nick Twidale, chief market analyst at AT Global Markets.

    Fed officials delivered their second straight rate reduction to support a softening labor market, and said they would stop shrinking the portfolio of assets on Dec. 1. Governor Stephen Miran dissented again in favor of a larger reduction. Kansas City Fed President Jeff Schmid said he preferred not to cut rates at all.

    “At a time when it’s flying with only one eye open, the Fed decided that the softening in the labor market is a bigger concern than the stickiness of inflation,” said Jack McIntyre at Brandywine Global. “What makes less sense is the odd range of dissents. This divergence means less complacency in financial markets, more volatility, and more two-way flows.”

    On trade, Trump and Xi are set to finalize a détente as they meet in South Korea, putting the world’s biggest trade fight on hold — at least for now. China’s purchase of two US soybean cargoes — its first this season — hints at renewed trade flows under a broader pact that may roll back some recent tariffs and export curbs.

    Meanwhile, the Bank of Japan is broadly expected to hold its benchmark interest rate steady at 0.5% on Thursday at its first policy meeting since Sanae Takaichi, a monetary easing advocate, became prime minister last week.

    With almost all economists in a Bloomberg survey forecasting a rate hike in December or January, BOJ watchers will be parsing the statements and Governor Kazuo Ueda’s remarks for indications on when the move might come.

    “Any hawkish signals could prompt markets to bring forward expectations for rate hikes,” Carol Kong and Samara Hammoud, strategists at Commonwealth Bank of Australia wrote in a note. “A hawkish BOJ is to also weigh on USD/JPY, with the market only pricing a modest chance of a 25 basis point hike before year-end.”

    Meanwhile in other corporate news, artificial intelligence startup OpenAI is preparing to file for an initial public offering as soon as next year that may give the company a market capitalization of $1 trillion, Reuters reported Wednesday, citing unidentified sources.

    Some of the main moves in markets:

    Stocks

    S&P 500 futures rose 0.1% as of 9:16 a.m. Tokyo time Hang Seng futures were unchanged Japan’s Topix rose 0.1% Australia’s S&P/ASX 200 fell 0.3% Euro Stoxx 50 futures rose 0.2% Currencies

    The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1606 The Japanese yen was unchanged at 152.73 per dollar The offshore yuan was little changed at 7.0956 per dollar The Australian dollar was little changed at $0.6579 Cryptocurrencies

    Bitcoin fell 1.1% to $110,201.36 Ether fell 1% to $3,911.03 Bonds

    The yield on 10-year Treasuries was little changed at 4.07% Japan’s 10-year yield advanced one basis point to 1.650% Australia’s 10-year yield advanced 10 basis points to 4.32% Commodities

    West Texas Intermediate crude fell 0.3% to $60.30 a barrel Spot gold rose 0.7% to $3,957.05 an ounce This story was produced with the assistance of Bloomberg Automation.

    –With assistance from Matthew Burgess.

    ©2025 Bloomberg L.P.

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  • Diabetes remission possible with GLP-1 drugs, Italian study confirms

    Diabetes remission possible with GLP-1 drugs, Italian study confirms

    Real-world data from over 14,000 Italian adults reveal that GLP-1 receptor agonists can induce remission in type 2 diabetes, with one clinically balanced definition linking drug use to reduced cardiovascular and microvascular…

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  • Oil Edges Lower as Traders Set Sights on US-China Summit, OPEC+ – Bloomberg.com

    Oil Edges Lower as Traders Set Sights on US-China Summit, OPEC+ – Bloomberg.com

    1. Oil Edges Lower as Traders Set Sights on US-China Summit, OPEC+  Bloomberg.com
    2. Oil dips on worries about Russian sanctions, OPEC+ output increase  Business Recorder
    3. Crude Oil Outlook: WTI Crude Remains Weak Ahead of the OPEC+ Meeting  FOREX.com
    4. Oil prices fall to $64.31 amid Russian sanctions, OPEC+ output hike plans  Economy Middle East
    5. Crude oil futures settle at $60.48  TradingView

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  • YouTube Implements New Restrictions on Gaming and Gambling Content

    YouTube Implements New Restrictions on Gaming and Gambling Content

    YouTube’s looking to crack down on depictions of violence in gaming content, while it’s also implementing new restrictions on gambling promotions, in line with evolving community…

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  • Arsenal 2 – 0 Brighton & Hove Albion – Match Report

    Arsenal 2 – 0 Brighton & Hove Albion – Match Report

    Goals from Ethan Nwaneri and Bukayo Saka helped us progress to the quarter-finals of the Carabao Cup with a 2-0 victory over Brighton & Hove Albion.

    Mikel Merino’s fine flick helped start a flowing team move, rounded off by Nwaneri early in the…

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  • Sustainable fuel alone unlikely to decarbonise the aviation industry – Carbon Tracker Initiative

    Sustainable fuel alone unlikely to decarbonise the aviation industry – Carbon Tracker Initiative

    1. Sustainable fuel alone unlikely to decarbonise the aviation industry  Carbon Tracker Initiative
    2. Malaysia potential site for Cathay-Airbus US$70 million SAF co-investment project  NST Online
    3. More Progress in Asian SAF Development with Airbus/Cathay Investment  ResourceWise
    4. Airbus, Cathay Invest $70 Million to Accelerate Sustainable Aviation Fuel Production  ESG Today
    5. Airbus and Cathay form co-investment partnership for scaling sustainable aviation fuel adoption  Airbus

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  • Tiger deaths in Vietnam due to infection with H5N1 highly pathogenic avian influenza virus bearing mutations associated with mammalian host adaptation | The Transmission

    Tiger deaths in Vietnam due to infection with H5N1 highly pathogenic avian influenza virus bearing mutations associated with mammalian host adaptation | The Transmission

    NIH Abstract

    Recently, infections with the H5N1 subtype of highly pathogenic avian influenza virus (H5N1-HPAIV) in mammals have been reported worldwide, including in cows in the United States and…

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  • This ‘minor’ bird flu strain has potential to spark human pandemic | The Transmission

    This ‘minor’ bird flu strain has potential to spark human pandemic | The Transmission

    Nature Experiments suggests H9N2 has adapted to human cells but cases of person-to-person transmission haven’t been reported yet. A bird flu virus that has often been ignored because it mostly causes minor disease in birds has the potential to…

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  • Thousands on benefits could have energy debt cancelled by Ofgem

    Thousands on benefits could have energy debt cancelled by Ofgem

    Kevin PeacheyCost of living correspondent

    Getty Images Older woman wearing glasses looks at a bill with curtains and net curtains behind her.Getty Images

    Nearly 200,000 people on benefits could have their debts to their energy supplier cancelled, if they make some effort to pay what is owed.

    Unpaid bills and fees have soared in recent years with energy prices so high, leaving a record £4.4bn owed to suppliers.

    Up to £500m could be knocked off the total under plans that regulator Ofgem wants to take effect early next year.

    But that will also require the cost to be covered through an extra £5 added to everyone’s gas and electricity bill. Households on a price cap tariff already typically pay £52 a year to deal with historic debt as part of the £1,755 annual bill.

    Under the plans:

    • Anyone on means-tested benefits, who built up energy debt of more than £100 between April 2022 and March 2024, will be eligible for help to write it off. Suppliers would identify these customers
    • They would need to make some contribution to paying off the debt or covering the cost of their ongoing energy use
    • If they are unable to pay, they would need to accept help from a debt charity to help manage their finances

    Energy debt and arrears in England, Wales and Scotland rose by £750m in a year to £4.4bn, the latest Ofgem data shows.

    The figures, which cover the period from April to June, show that a record high of more than one million households have no arrangement to repay their debt.

    The regulator has been working on various projects to bring down the debt, starting early next year following consultation.

    However, by recovering or cancelling up to £500m, the first phase may only reduce the rate of increase in customer debt, rather than reverse it.

    On Wednesday, a committee of MPs said this debt should be cleared using energy network companies “excess” profits.

    In a report, the Energy Security and Net Zero (ESNZ) Committee called it “completely inexcusable” that households were forced to choose between eating and heating while companies behind Britain’s gas pipes and power lines amassed huge profits. It said these profits should fund a debt relief scheme.

    Those windfall profits were partly the result of high inflation, but Ofgem said that renegotiating price controls would bring extra costs to consumers that would outweigh the benefits.

    Charlotte Friel, from Ofgem, said the growing amount of energy debt was a “significant challenge” for those in debt as well as for households that face higher bills to cover debt that can’t be recovered. She said it also meant the industry was less able to invest because of the costs of debt.

    Ned Hammond, from Energy UK, which represents suppliers, said the scheme was an “important first step” but would need to be expanded to meaningfully address the debt problem and reach a wider group of customers.

    Charities said the move was long overdue, as families were still facing high energy bills, although some campaigners believe the industry should pay.

    Move in, sign up

    Among the other schemes to tackle debt being considered by Ofgem is a requirement on new tenants and homeowners to ensure they are paying for their gas and electricity supply.

    It said that when someone moves into a new home, energy accounts were switched to the “occupier”. Bills built up under these anonymous accounts until the individual contacted a supplier to register.

    Suppliers estimate this accounted for £1.1bn to £1.7bn of the historic debt in the system, which was in danger of never being paid.

    Ofgem wants a system similar to that used in other countries, where customers must sign up.

    In practical terms, to avoid customers being cut off entirely, smart meters in these properties would be switched to prepayment mode and have some available credit. This would leave residents eventually having to top-up or sign up to the supplier.

    The regulator’s plans would only cover properties where a smart meter had been fitted.

    Ofgem said such schemes could eventually help bring down debt, protect vulnerable people and ease the cost burden on other billpayers.

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