On the Blogs: Where Apple Energy Is Going Others Will Follow

first_imgOn the Blogs: Where Apple Energy Is Going Others Will Follow FacebookTwitterLinkedInEmailPrint分享Tim Healy for Forbes.com:Apple has quietly dropped a bombshell in the energy industry, launching an entirely new subsidiary called Apple Energy that will manage the complexities of its renewable energy efforts.The only information available on Apple Energy is in the company’s filings with the Federal Energy Regulatory Commission, but what can be gleaned from that illustrates a foundational shift underway in the energy world.Essentially, Apple is seeking the ability to sell the renewable energy it generates to other businesses and consumers at retail prices. Without FERC’s approval, Apple will only be able to sell its energy to energy providers and utilities at wholesale prices. Apple Energy would more or less act as an energy provider itself, enabling the company to leverage its investments in renewable energy like wind and solar to generate new revenue from an entirely new market.Apple’s decision to go this route might be unique, but a close look at the path it took to get here reveals a broader shift in the way businesses think about energy. And whether you’re a bleeding-edge company with substantial financial resources like Apple, or a smaller-scale enterprise that’s just starting to dip your toes in the water, there are a few lessons to learn from Apple’s energy evolution.Apple was one of the early names to sign onto RE100, a group of the world’s biggest companies committed to 100% renewable power. In its 2016 Environmental Responsibility Report, Apple said it’s already well on its way, claiming 93% of its worldwide energy usage comes from renewables. Like most big companies that have made aggressive public commitments to renewables in the past decade, Apple has pursued these goals through a combination of strategies, including the purchase of renewable energy certificates (RECs).If a company is drawing any power from the grid, the original source of power is indistinguishable, a mix of coal, natural gas, nuclear, or renewable. By purchasing RECs, businesses essentially pay a premium to ensure that for every megawatt of energy they consume from the grid, the energy supplier is procuring at least the equivalent amount from renewable resources.While RECs have become an increasingly popular way for companies to hit their renewable targets, some have claimed businesses that use them are misleading consumers. Critics argue that a company cannot claim to be 100% renewable while relying entirely on grid power.But Apple critics—and critics of RECs at large—are missing a few key points: 1) RECs are more than an expensive way of buying positive PR—they play an important role in the economics of renewable energy development, which accelerates the integration of these resources into our nation’s resource mix; and 2) Apple’s claims are based on more than just purchasing RECs as financial instruments on the open market. Like other firms in the RE100, Apple has influenced the transformation of the electricity grid by agreeing to purchase renewable energy on a large scale.Full post: Why Apple Energy Is A Wake-Up Call For Businesseslast_img read more

Gervinho Remains Committed to Ivory Coast Despite AFCON 2019 Omission

first_imgHe hoped his impressive 11 goals and three assists for Parma in Italy’s Serie A last season would earn him a recall, but has tried to play down his disappointment and vowed to bounce back.“Dear Ivorians, I don’t know how to thank you for all the messages of support and affection I’ve received from my first call up,” he posted on social media.Gervinho on Instagram: “#merci #team225 #allezleselephants”9,762 Likes, 280 Comments – Gervinho (@gervinhofficial) on Instagram: “#merci #team225 #allezleselephants”“Receiving your videos, photos and comments lately warm my heart.“All this has helped reduce my disappointment not to be part of the team that will defend our colours at the next Afcon in Egypt.”The former Arsenal and AS Roma player returned to Italian football last summer after he was released by Chinese club Hebei China Fortune.Gervinho: Parma sign Ivory Coast forward for Serie A returnItalian side Parma have signed Gervinho on a three-year contract after Hebei China Fortune agreed to release the…Ivory Coast coach Ibrahim Kamara had refused to close the door on Gervinho insisting his decision has nothing to do with the player’s age or form, but because he has plenty of familiar options at his disposal.Despite having played in five Nations Cup tournaments in 2008, 2010, 2012, 2013 and 2015, Gervinho, whose last appearance was against Morocco in November 2017, insists he has no plans to quit the national team.“As you know so well, wearing our national shirt will always be a pride to me,” he added.“I will always be ready and available when called upon to represent and defend our great nation Ivory Coast.”Gervinho has 22 goals in 84 appearances for Ivory Coast and played for his country at the 2010 and 2014 World Cups.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Gervinho has said that he was disappointed by his omission from Ivory Coast’s Africa Cup of Nations squad, but reiterated his commitment to the Elephants.The 32-year-old winger, who won the tournament with his country in 2015, missed out on the 2017 edition in Gabon with a knee injury.Gervinho set to miss Nations CupThere are fears that Ivory Coast forward Gervinho will miss the Nations Cup after injuring his anterior cruciate…last_img read more

Unemployment Rate Falls To 13.3%, U.S. Adds 2.5 Million Jobs

first_imgASHINGTON (AP) — America’s workers likely suffered another devastating blow in May, with millions more jobs lost to the viral pandemic and an unemployment rate near or even above 20% for the first time since the Great Depression.Economists have forecast that the government will report Friday that employers shed 8.5 million more jobs last month on top of 21.4 million lost in March and April. A figure that large would raise the total losses since the coronavirus intensified nearly three months ago to almost 30 million — more than triple the number of jobs lost during the 2008-2009 Great Recession.The economy has sunk into what looks like a deep recession, and most economists foresee unemployment remaining above 10% — its peak during the Great Recession — through the November elections and into next year.A report Thursday on applications for unemployment benefits reinforced the picture of a bleak job market: The number of people seeking jobless aid last week was double the previous record high that prevailed before the viral outbreak occurred.Still, that report did offer a few glimmers of hope. As restaurants, movie theaters, gyms, hair salons and other retail establishments gradually reopen, job cuts are slowing and employers are recalling some of their laid-off workers. The total number of people receiving unemployment aid rose slightly, the government said, but stayed below a peak of 25 million reached two weeks earlier. And the number of laid-off workers applying for aid, while historically high, has declined for nine straight weeks.The economic shock, like the pandemic itself, has widened economic disparities that have disproportionately hurt minorities and lower-educated workers. More than 55% of African-Americans say they or someone in their household has lost income since mid-March, compared with 43% of whites, according to a weekly survey by the Census Bureau. For Hispanics, the figure is 60%. The pandemic has especially eliminated jobs, at least temporarily, at restaurants, hotels, retail chains and other lower-wage industries.The street protests over George Floyd’s killing that led to some vandalism and looting in dozens of cities won’t affect Friday’s jobs figures, which were compiled in the middle of May. But business closures related to the unrest could cause job losses that would be reflected in the June jobs report to be issued next month.A few businesses are reporting signs of progress even in hard-hit industries. American Airlines, for example, said this week that it would fly 55% of its U.S. routes in July, up from just 20% in May.And the Cheesecake Factory said one-quarter of its nearly 300 restaurants have reopened, though with limited capacity. Sales at those restaurants are at nearly 75% of the levels reached a year ago, the company said. Both companies’ share prices rose.Those limited gains may lead to more rehiring as companies slowly restart shuttered businesses. But economists say the pace of hiring will then likely lag as a severe recession and high unemployment hold back consumer spending, the main driver of the economy.Erica Groshen, a labor economist at Cornell University and a former commissioner of the Labor Department’s Bureau of Labor Statistics, said hiring could ramp up relatively quickly in coming months and reduce unemployment to low double-digits by year’s end.“Then my inclination is that it will be a long, slow slog,” she said.Overhanging the jobs picture is widespread uncertainty about how long the unemployed will remain out of work. Most of the layoffs in recent months were a direct result of the sudden shutdowns of businesses in response to the coronavirus pandemic.Though many of the unemployed have said they expect their layoffs to be temporary, many large businesses won’t rehire everyone they laid off. And some small employers might not reopen at all if the recession drags on. Until most Americans are confident they can shop, travel, eat out and fully return to their other spending habits without fear of contracting the virus, the economy will likely remain sluggish.Even if just one-third of the U.S. job losses turn out to be permanent, that would leave roughly 10 million people out of work. That is still more than all the jobs lost in the Great Recession. A hole that size would take years to fill. Oxford Economics estimates that the economy will regain 17 million jobs by year’s end, a huge increase by historical standards. But that would make up for barely more than half the losses.Gwyneth Duesbery, 22, returned this week to her job as a hostess at a steakhouse where she lives in Grand Rapids, Michigan, as the restaurant prepares to reopen. Duesbery said she is grateful for the opportunity, given that she hasn’t received unemployment benefits since the restaurant closed in March and has run through her savings.She will spend this week helping to clean the restaurant and setting tables 6 feet apart. The restaurant will be able to seat only about one-quarter of its usual capacity.The restaurant, Bowdie’s Chop House, has reservations for about 20 people for its opening night Monday and said it has drawn plenty of interest from longtime customers. Still, Duesbery worries about her health.“I am concerned that it will expose me to potential diseases, and expose others, no matter the precautions that we take,” she said. “It’s kind of uncharted waters.”last_img read more