AUSTIN, TEXAS — Adam Sullivan left investment banking to mine bitcoin at an awkward time. It was May 2023, bitcoin was trading at around $21,000, U.S. regulators were in the thick of cracking down on the sector writ large, and Core Scientific, the company he had agreed to take over, was battling angry lenders in … Read more
HELL’S GATE, Kenya — Two-and-a-half hours northwest of Nairobi by car, a small group of bitcoin miners set up shop at the site of an extinct volcano near Hell’s Gate National Park. The mine, tucked away on the edge of Lake Naivasha, is operated by a startup called Gridless and consists of a single 500-kilowatt … Read more
A general view of the BP logo and petrol station forecourt sign on January 22, 2024 in Southend, United Kingdom. John Keeble | Getty Images News | Getty Images British oil major BP on Thursday trimmed its executive team down to 10 members and announced William Lin as the new head of the firm’s oil and low … Read more
New York billionaire John Catsimatidis said his firm Red Apple Group is looking to make “green” energy affordable by developing a new breed of small nuclear reactors — and the company has hired a seasoned energy executive to lead the effort. The $7 billion conglomerate — which owns the Gristedes and D’Agostino’s grocery chains, as … Read more
Excerpts were released over the weekend and include a scathing view of Britain’s financial establishment. She describes the Treasury, the Bank of England and the Office for Budget Responsibility (OBR) as a “three-headed hydra” that “wanted to stick as closely to EU law as possible.” But the now-backbench MP went further in the interview, saying … Read more
Instead, the Beverly and Holderness MP said he wanted to focus on “campaigning on local issues,” and that he looks forward to “fighting and winning the seat later this year.” Stuart has a near 20,000 majority, although recent polling analysis has shown that Labour could narrowly win the seat at the next general election, expected … Read more
The International Energy Agency on Friday downgraded its forecast for 2024 oil demand growth, citing “exceptionally weak” OECD deliveries, a largely complete post-Covid-19 rebound and an expanding electric vehicle fleet. In its latest monthly oil market report, the IEA said it had revised down the forecast by around 100,000 barrels per day (bpd) to 1.2 … Read more
For the first time in more than 40 years, a congressional district in Colorado is without a voice in the U.S. House of Representatives. In 1983, a seat sat vacant because Jack Swigert, a former astronaut on the Apollo 13 who was elected the previous November, died of cancer one week before taking office. This … Read more
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 Tuesday, 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 … 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
