Category: 3. Business

  • HD Hyundai Electric Accelerates Expansion into the North American Low- and Medium-Voltage Circuit Breaker Market with UL Certification

    HD Hyundai Electric Accelerates Expansion into the North American Low- and Medium-Voltage Circuit Breaker Market with UL Certification

    • Secures UL and cUL certifications for four types of low- and medium-voltage circuit breakers, reinforcing competitiveness in North America
    • Global low- and medium-voltage circuit breaker market projected to reach USD 29.2 billion by 2034, growing at a CAGR of 8.8%
    • “The company plans to expand its presence beyond high-voltage transformers to include low- and medium-voltage circuit breakers in North America.”

    SEOUL, South Korea, Oct. 15, 2025 /PRNewswire/ — HD Hyundai Electric has secured UL certification, establishing a foothold to expand its market share in North America’s low- and medium-voltage circuit breaker market.

    HD Hyundai Electric announced on Tuesday, October 14, that four types of its low- and medium-voltage circuit breakers — air circuit breakers (ACB), molded case circuit breakers (MCCB), vacuum circuit breakers (VCB), and magnetic contactors (MC) — have obtained UL (Underwriters Laboratories) and cUL (Canadian UL) certifications, the leading safety standards in the North American market.

    The UL certification is a globally recognized mark of safety and quality granted by Underwriters Laboratories, a prominent U.S.-based safety certification organization, following rigorous testing and evaluation of electrical, electronic, and industrial equipment. Although not legally mandatory, UL and cUL certifications are effectively required for electrical products distributed in North America, particularly those with potential safety risks such as fire or electric shock. As such, they play a critical role in ensuring product reliability and enhancing market competitiveness.

    Low- and medium-voltage circuit breakers are essential components in power distribution systems, delivering electricity generated at power plants to end users. They ensure stable power supply and protect facilities by interrupting excessive current flow during overloads. Depending on voltage levels, they are widely used across residential, commercial, and industrial applications — representing a large and resilient market closely tied to everyday life.

    According to Global Market Insights, the global low- and medium-voltage circuit breaker market is projected to grow from USD 12.2 billion in 2024 to nearly USD 29.2 billion by 2034, representing a compound annual growth rate (CAGR) of 8.8% — a 2.4-fold increase over the decade.

    An HD Hyundai Electric official said, “With the acquisition of UL certification, we plan to expand our presence beyond high-voltage transformers — where we have consistently held the top market share in North America — into the broader power distribution equipment sector, including low- and medium-voltage circuit breakers.”

    Meanwhile, HD Hyundai Electric plans to complete the construction of a new power distribution equipment plant in Cheongju, Korea, by the end of this year, further supporting its expansion in the low- and medium-voltage segment. The new Cheongju plant will feature an advanced smart factory system designed to maximize manufacturing efficiency. Once completed, the facility is expected to double the company’s annual production capacity of low- and medium-voltage circuit breakers to approximately 13 million units.

    SOURCE HD Hyundai

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  • Plug-in hybrids pollute almost as much as petrol cars, report finds | Electric, hybrid and low-emission cars

    Plug-in hybrids pollute almost as much as petrol cars, report finds | Electric, hybrid and low-emission cars

    Plug-in hybrid electric vehicles (PHEVs) pump out nearly five times more planet-heating pollution than official figures show, a report has found.

    The cars, which can run on electric batteries as well as combustion engines, have been promoted by European carmakers as a way to cover long distances in a single drive – unlike fully electric cars – while still reducing emissions.

    Data shows PHEVs emit just 19% less CO2 than petrol and diesel cars, an analysis by the non-profit advocacy group Transport and Environment found on Thursday. Under laboratory tests, they were assumed to be 75% less polluting.

    The researchers analysed data from the onboard fuel consumption meters of 800,000 cars registered in Europe between 2021 and 2023. They found real-world carbon dioxide emissions from PHEVs in 2023 were 4.9 times greater than those from standardised laboratory tests, having risen from being 3.5 times greater in 2021.

    “Real-world emissions are going up, while official emissions are going down,” said Sofía Navas Gohlke, a researcher at Transport and Environment and the co-author of the report. “This is the gap that is getting worse and it is a real problem. As a result, PHEVs pollute almost as much as petrol cars.”

    The researchers attributed most of the gap to overestimates of the “utility factor” – the ratio of miles travelled in electric mode to the total miles travelled – finding that 27% of driving was done in electric mode even though official estimates assumed 84%. The European Commission has announced two corrections to the utility factor ratio that will narrow the gap but not close it entirely, according to the analysis.

    Even when the cars were driven in electric mode, the analysis found that levels of pollution were well above official estimates. The researchers said this was because electric motors were not strong enough to operate alone, with their engines burning fossil fuels for almost one-third of the distance travelled in electric mode.

    Patrick Plötz, head of energy economics at the Fraunhofer Institute for Systems and Innovation Research, who was not involved in the study, said it was a “very useful contribution” after years in which parts of the automotive industry argued there was too little data to accurately assess real-world emissions.

    “The results demonstrate, beyond any doubt, that the gap between official and real-world PHEV fuel consumption and CO2 emissions is much, much larger than for gasoline or diesel cars,” said Plötz, who has published research on the topic. “Any policy changes with respect to PHEVs should be made with utmost care and in the light of that data.”

    Hybrid cars have been drawn back into the political debate as carmakers have pressed the EU to weaken CO2 targets. A ban on new combustion engine cars in 2035 has been subject to heavy lobbying from the automotive industry and opposition from member states with large car industries.

    “There must not be a drastic cut in 2035,” the German chancellor, Friedrich Merz, said after a summit last week with the country’s struggling automobile industry, promising to do “everything in [his] power” to achieve that. Other senior German politicians have floated plug-in hybrids as one example of possible “flexibilities” they could introduce to the legislation.

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    The researchers calculated that the underestimate of PHEV emissions had let four major carmaker groups avoid more than €5bn (£4.3bn) in fines between 2021 and 2023, by making it artificially easier to comply with the EU’s fleet-average CO2 targets. They added that drivers of PHEVs would also be paying about €500 more a year in running costs than would be assumed under laboratory tests.

    “The bold claims that manufacturers like to make about their plug-in hybrid vehicles are clearly way off the mark,” said Colin Walker, a transport analyst at the Energy and Climate Intelligence Unit.

    “Consumers are being duped into believing that in buying a PHEV, they are helping the environment and saving money,” he said. “In reality, PHEVs are little better than regular petrol and diesel cars when it comes to the fuel they consume, the CO2 they produce and the money they cost to run.”

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  • ‘Of course it’s a bubble’: AI start-up valuations soar in investor frenzy – Financial Times

    ‘Of course it’s a bubble’: AI start-up valuations soar in investor frenzy – Financial Times

    1. ‘Of course it’s a bubble’: AI start-up valuations soar in investor frenzy  Financial Times
    2. ‘Absolutely’ a market bubble: Wall Street sounds the alarm on AI-driven boom as investors go all in  Yahoo Finance
    3. The coming crash  The Korea Times
    4. Investors on guard for risks that could derail the AI gravy train  Reuters
    5. The AI Bubble and Counterfeit Money  Counterpunch

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  • ‘When I pass piles of fishing nets, I see piles of money’: a one man recycling revolution on the Cornish coast | Fishing

    ‘When I pass piles of fishing nets, I see piles of money’: a one man recycling revolution on the Cornish coast | Fishing

    Ian Falconer kept thinking about the heaps of discarded plastic fishing nets he saw at Newlyn harbour near his home in Cornwall. “I thought ‘it’s such a waste’,” he says. “There has to be a better solution than it all going into landfill.”

    Falconer, 52, who studied environmental and mining geology at university, came up with a plan: shredding and cleaning the worn out nets, melting the plastic down and converting it into filament to be used in 3D printing. He then built a “micro-factory” so that the filament could be made into useful stuff.

    “Every year, up to 1m tonnes of fishing nets are discarded,” he says. “Most of that ends up in landfill or is burned, or worse still finds its way back into the oceans. This showed there was another way for some of that material.”

    The first big challenge he encountered when he started in 2016, was getting hold of the nets. But he badgered the Newlyn harbour master into giving him a few to test his theory in his kitchen.

    From old nets to new glasses – one of the many products made from the waste plastic. Photograph: OrCA

    Since its launch the following year, Falconer’s company OrCA (previously Fishy Filaments) has raised more than £1m from small investors in over 40 countries. The investment funded the development of patented new machinery that can convert more than 20 kilos of nylon fishing nets an hour. He claims the recycling process has less than 3% of the carbon impact of producing new nylon.

    “When they get to us, this particular type of fishing nets have typically been used by Cornish fishers for around six months,” he says. “They are routinely swapped out because their surfaces become cloudy due to wear and the build up of an algal biofilm. With time and repeated use, eventually the fish can sense them in the water and avoid them.

    “Skippers can see their catches fall as their nets age and it makes sense to replace them.”

    Falconer sorts through bags of nets at his Newlyn headquarters. Photograph: OrCA

    The nets that go into the shredder come out as small blue-green beads that Falconer sells to 3D printing companies, which convert them into strings of filament used in 3D printing. They also get sold around the world to replace new plastic in more conventional products that are made using injection moulding.

    Falconer’s shipping container office is full of items made from the raw material: sunglasses, light shades, bottle openers, razor blade handles. It can be used for just about anything. The items he is most proud of are those made from his nylon mixed with waste carbon fibre – mostly from offcuts of car and aeroplane manufacturing. This stronger and more expensive product is used to make parts for racing bikes and super-light sunglasses, and industrial components such as electronic enclosures.

    Small blue-green beads are produced by shredding old nets. These are then converted into strings of filament used in 3D printing. Photograph: OrCA

    The carbon and nylon mix sells for up to £35,000 a tonne – more than the £12,000 a tonne pure nylon beads. “Our process turns a liability of about £500 a tonne to pay to get someone to take the nets away, not to mention the environmental cost of that, into something of real value,” Falconer says. “Now, when I pass the piles of fishing nets on the harbourside, I see piles of money.”

    Abandoned, lost or discarded fishing gear poses one of the most serious threats to marine life, says Rachel Coppock, marine ecologist at the Plymouth Marine Laboratory, adding that innovative ideas to reduce this are welcome.

    “Recycling schemes are increasingly seen as viable and beneficial in demonstrating how old gear can be transformed into new products, reducing landfill waste and supporting a circular economy,” she says. “Though challenges remain in scaling these efforts due to material complexity and infrastructure gaps.”

    Falconer’s roster of clients, which includes Philips lighting, L’Oréal, Ford and Mercedes-Benz, is increasing as more companies see OrCA’s potential to help them reduce their carbon footprint by increasing the proportion of their products made from recycled materials.

    “The European Union wants automakers to use at least 20% recycled plastic by 2035,” he says. “Using ours is one of the easiest ways to do it.”

    Falconer could make a nice living continuing to recycle Newlyn fishers’ nets, but he has wider ambitions. “Waste fishing nets are a problem here in Cornwall, but the same type of nets are a much bigger problem in other countries, especially those without established waste systems,” he says. “Around Africa, South and Central America and Asia you see these nets littering beaches.”

    Many of those countries don’t have the equipment to recycle the nets, he says, so they are burned or just left as waste. “They even end up back in the water where they can damage coral reefs and harm marine life, including the fisheries that the local communities rely on for food.”

    A shaving set that has been 3D printed from recycled fishing nets. Photograph: OrCA

    About 150,000 tonnes of nylon monofilament fishing nets are made every year, and, based on external reports, Falconer estimates production will soon rise to 200,000 tonnes. The world’s total traditional nylon recycling capacity is less than 150,000 tonnes a year, so less than half the capacity that European carmakers need to meet their targets, and almost all of that is taken up with recycling carpets and other textiles.

    To try to combat the problem, Falconer plans on exporting his recycling solution to any harbour that wants it. A container with all the equipment needed to run a mini recycling plant would cost about $500,000 (£370,000) if built in the UK.

    Falconer says he has already received inquiries from 14 countries including Brazil, Colombia, Ghana, South Africa and Vietnam.

    “The beauty of it is that it all fits in a shipping container and pretty much anyone can operate it,” he says. “So you could have one of these at every harbour around the world, converting a costly and hazardous waste into a profitable raw material.”

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  • YouTube says it has restored service after global streaming disruptions | Social Media News

    YouTube says it has restored service after global streaming disruptions | Social Media News

    YouTube users reported problems streaming content and accessing the app for about 60 minutes before the company resolved the issue.

    YouTube says it has resolved problems with its website and app after hundreds of thousands of users worldwide self-reported issues with its streaming services.

    “This issue has been fixed – you should now be able to play videos on YouTube, YouTube Music, and YouTube TV!” YouTube wrote on X on Thursday morning in Asia.

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    YouTube did not disclose why users reported problems streaming videos for about 60 minutes on Thursday morning, or the global extent of the problem.

    Disruptions began just before 7am in East Asia (23:00 GMT, Wednesday) for YouTube, YouTube Music and YouTube TV, according to Downdetector, a website that aggregates website disruptions in real time.

    Users from Asia to Europe and North America soon reported problems streaming, accessing the website, and using the apps of YouTube and its affiliates, though error reports were most heavily concentrated in the US, according to Downdetector’s user-generated error map.

    Major disruptions were also reported in Japan, Brazil and the United Kingdom, although the extent of the problem is unknown because Downdetector data is based on user-submitted reports and social media.

    The number of error reports peaked at 393,038 reports in the US at 7:57am (23:57 GMT) before falling off sharply, according to Downdetector data.

    Downdetector reported a smaller number of disruptions for YouTube Music and YouTube TV, which both peaked at fewer than 5,000 error reports in the US over the same period of time.

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  • DENSO to Exhibit at JAPAN MOBILITY SHOW 2025 | Newsroom | News

    DENSO to Exhibit at JAPAN MOBILITY SHOW 2025 | Newsroom | News

    KARIYA, Japan (October 16, 2025) — DENSO CORPORATION (hereinafter “DENSO”) will exhibit at the “Japan Mobility Show 2025*1” held at Tokyo Big Sight from Thursday, October 30, to Sunday, November 9.

    Under the theme “Changing the Shape of the Future with Technology: Community Meets Mobility,” DENSO will present technologies that create new value for society, starting with the evolution of the automobile and expanding connections with cities and people. The booth will feature a four-seater simulation vehicle, immersive theater, and presentations using videos and actual products.

    To meet the increasingly diverse needs of people in the future mobility society, Software-Defined Vehicles (SDVs) , which continuously evolve through software, will become mainstream, and dramatically transform transportation. The exhibit will allow visitors to experience the value that future mobility brings to vehicle users and society, as well as the initiatives and technologies that DENSO is developing to support it.

    In the four-seater simulation vehicle, visitors can experience the future of mobility that is “attuned to people,” together with families and friends. The SDV platform will be introduced through an interactive presentation synchronized with video content. Moreover, engineers responsible for SDV platform development will engage with visitors to explain the details of SDV related technologies, such as integrated mobility computers that consolidate ECUs (Electronic Control Units) that control various vehicle functions.

    Furthermore, DENSO will display semiconductor wafer manufacturing technologies and initiatives for the development of high-performance semiconductors that support the evolution of vehicles.

    As environmental issues such as global warming become more prevalent, reducing the environmental impact of automobiles has become an urgent challenge. This exhibit introduces technologies aimed at lowering the environmental impact of vehicles, as well as systems that connect cars with social infrastructure to enable smarter energy use across society—initiatives and innovations toward achieving carbon neutrality.

    In the immersive theater, visitors can experience a future scene brought to life by DENSO’s energy management initiatives through a combination of video, special effects, and more. They’ll also see the latest electrification technologies, including the new inverter with a flat dual-sided cooling structure, along with energy management technologies that integrate electrification and thermal systems, such as efficient management and optimization of vehicle waste heat. Additionally, DENSO will present initiatives that manage energy and resources across society starting from mobility, such as “EVECOM” (charging control system for electric vehicles), battery circulation systems, and the SOEC*2 water electrolysis device, in a presentation format.

    Please discover the future society envisioned by DENSO through mobility—at the venue.

    (Reference) DENSO Exclusive Website for Japan Mobility Show 2025:
    https://www.denso.com/global/en/events/jms/2025/

    ■Press Conference Information
    A press conference will be held at the DENSO booth as follows:

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  • MHIEC Receives Contract for Improvement of Core Equipment at Municipal Solid Waste Incineration Facility in Kanazawa– Refurbishment of East Environmental Energy Center to Extend Operational Life, Enhance Energy Efficiency, and Reduce CO₂ Emissions

    MHIEC Receives Contract for Improvement of Core Equipment at Municipal Solid Waste Incineration Facility in Kanazawa– Refurbishment of East Environmental Energy Center to Extend Operational Life, Enhance Energy Efficiency, and Reduce CO₂ Emissions

    Kanazawa city’s East Environmental Energy Center

    Tokyo, October 16, 2025 – Mitsubishi Heavy Industries Environmental & Chemical Engineering Co., Ltd. (MHIEC), a part of Mitsubishi Heavy Industries (MHI) Group, has received a contract from the city of Kanazawa (Ishikawa Prefecture) to refurbish and improve the core facilities of the city’s East Environmental Energy Center, a municipal solid waste (MSW) incineration plant. The renovation of the stoker-type incinerators(Note1) with processing capacity of 250 tons per day (tpd) aims to extend the life of the facility, enhance energy efficiency, and reduce CO2 emissions. The total value of the contract is 4.3 billion yen before tax, with work scheduled to be completed in March 2029.

    The East Environmental Energy Center was engineered and built by MHI, and completed in March 1991. It comprises two stoker-type incinerators, each with processing capacity of 125 tpd. Power generation capacity utilizing residual heat from the plant is 3,000 kilowatts (kW).

    The plant’s core facilities have previously been refurbished twice, first over a four-year period from 2004, followed by a round of construction over a four-year period from 2014. This third refurbishment aims to extend the operational life of the facility through renewal of major equipment that has become impossible to maintain due to deterioration over time and production discontinuation, including the facilities for waste reception and feeding, combustion, combustion gas cooling, exhaust gas treatment, and waste heat utilization. In addition, energy efficiency will be enhanced with the adoption of high-efficiency motors and transformers, while upgrades to MHIEC’s proprietary new combustion control system, previously installed as part of the earlier improvement work, will allow for a lower air ratio(Note2) and provide more stable combustion.

    In recent years, the number of renovation projects for MSW facilities has increased as a measure to extend the operational life of such plants, and reduce their impact on global warming. MHIEC took over the waste treatment plant business in 2008, acquiring MHI’s technological development capabilities in environmental systems and broad-ranging expertise in the construction and operation of waste management facilities both in Japan and overseas. This extensive experience allows MHIEC to provide comprehensive solutions, from plant construction to operations. Going forward, leveraging this latest order and its past results, MHIEC will proactively propose further energy-saving enhancements and system improvements for stable operation at existing waste treatment facilities, as well as ways to reduce lifecycle costs, including maintenance and management costs, leading to further business contracts.

    • 1 A stoker-type incinerator injects air from beneath heat-resistant fire grates, mixing the waste and other material by pushing it up, and allowing for efficient incineration. It is the most common system used for municipal solid waste (MSW).
    • 2 The air ratio is the value of the actual amount of air supplied to the incinerator for combustion, divided by the theoretical minimum amount of air required for complete waste combustion.

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  • Strong bank earnings seem to overshadow escalating trade war

    Strong bank earnings seem to overshadow escalating trade war

    U.S. Treasury Secretary Scott Bessent speaks as he and U.S. Trade Representative Jamieson Greer hold a press conference on the sidelines of the IMF/World Bank annual meetings in Washington, D.C., U.S., Oct. 15, 2025.

    Ken Cedeno | Reuters

    China has been using its dominance in the rare earth industry to slash prices, driving foreign competitors out, U.S. Treasury Secretary Scott Bessent told CNBC on Wednesday stateside in an exclusive interview. He characterized the country as having "a nonmarket economy."

    In response, the Trump administration will "exercise industrial policy" to set price floors in a range of industries. Price floors are a limit of how low suppliers can charge for goods or services. They are typically set above the market rate and are essentially a form of government price control.

    Meanwhile, Bank of America and Morgan Stanley reported blockbuster second-quarter earnings that shot way past analyst expectations. They joined other major U.S. banks, such as JPMorgan Chase and Goldman Sachs, in ihaving a blowout quarter that was turbocharged by robust dealmaking and stock market highs.

    And despite U.S. President Donald Trump's continued saber-rattling at China on the trade front, traders don't seem ready to let go of equities. On Wednesday stateside, the S&P 500 and Nasdaq Composite rose, and the Russell 2000 hit a fresh record. After all, earnings reports are indicating that the economy isn't yet faltering, despite firms already experiencing higher costs because of tariffs, according to the U.S. Federal Reserve's Beige Book.

    Whether traders continue pushing equities to new highs amid fractious trade relations with China will depend, in part, on the earnings of major technology companies such as Tesla and Intel due next week.

    What you need to know today

    And finally...

    UAE National Security Advisor, Sheikh Tahnoon bin Zayed Al Nahyan meets with U.S. President Donald Trump in the White House on March 18, 2025.

    Courtesy: Donald J. Trump | Via Truth Social

    The Abu Dhabi investor that's funding AI while trying to save TikTok — with help from Trump

    Backed by Abu Dhabi's sovereign wealth fund and launched in March 2024, MGX has emerged as a key source of capital as companies race to build out the enormous computing power needed to meet expected AI demand.

    Certain transactions suggest a level of coziness with Trump.

    Earlier this year, MGX reportedly provided $2 billion in funding to the crypto exchange Binance, using a cryptocurrency purchased from the Trump family's World Liberty Financial. Its chairman Tahnoon bin Zayed Al Nahyan also visited Trump in the White House this spring to announce a $1.4 trillion investment in the U.S. over the next decade.

    Steve Kovach

    Clarification: This story has been updated to reflect that the S&P 500 and Nasdaq Composite rose on Wednesday stateside. An earlier version did not specify which indexes rose.


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  • ANZ’s New Game Plan Explained – Bloomberg.com

    1. ANZ’s New Game Plan Explained  Bloomberg.com
    2. ANZ’s Ambition Attracts Another Skeptic — Market Talk  富途牛牛
    3. ANZ Group halts share buyback, redirects funds to strategic revamp  Retail Banker International
    4. Why ANZ’s CEO loves McKinsey but ‘hates consultants’  AFR
    5. BEHIND THE SCENES: ANZ 2030  ANZ

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  • Salesforce Announces New FY30 Revenue Target of $60B+, 10% Organic FY26-FY30 CAGR – Salesforce Investor Relations

    1. Salesforce Announces New FY30 Revenue Target of $60B+, 10% Organic FY26-FY30 CAGR  Salesforce Investor Relations
    2. Salesforce stock jumps after company offers rosy forecast for 2030  CNBC
    3. Salesforce forecasts stronger-than-expected revenue of over $60 billion in 2030  Reuters
    4. Salesforce eyes $60B revenue by 2030 as AI fuels comeback  Cryptopolitan
    5. Salesforce forecasts revenue over $60 billion in 2030 By Reuters  Investing.com

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