Tag Archives: Ownership

Top 250 Oil and Gas Companies Hold Just 1.5% of Global Renewable Electricity Ownership

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Oil corporations are making minimal investments in wind energy.

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Significant oil and gas firms hold under 1.5 percent of the global renewable electricity capacity, raising concerns about their dedication to green energy transition, despite their public assertions.

Marcel Llabero Pasquina and Antonio Bontempi, researchers from the Autonomous University of Barcelona, analyzed ownership data of over 53,000 renewable energy projects—including wind, solar, hydroelectric, and geothermal—tracked by the NGO Global Energy Monitor. They compiled this information to determine the proportion of these projects owned by the 250 largest oil and gas companies, which together dominate 88% of global hydrocarbon production.

As the world shifts away from fossil fuels, many chief energy companies have committed to investing in renewables, yet findings indicated that these top firms own merely 1.42% of operational renewable energy capacity worldwide. Notably, more than half (around 54%) of this capacity was acquired rather than developed by these companies. Their analysis of total energy output showed that just 0.13% of energy produced by these companies comes from renewable electricity.

“The findings were astonishing even to me,” remarks Llabero-Pasquina. “We understood they played a limited role in the energy transition. We thought it was merely for appearances. Yet, the numbers are even lower than we anticipated.”

Llavero Pasquina and Bontempi are associated with Environmental Justice, a collective dedicated to researching and advancing the global environmental justice movement. Llabero-Pasquina believes that the campaign’s stance bolsters his research. “It is crucial for us to maintain high rigor in our work so that we can effectively persuade others and demonstrate the truth.”

It is not surprising that major energy corporations, renowned for their oil and gas ventures, do not hold substantial stakes in renewable energy, says Thierry Bros from the Institute of Sciences in Paris. “Ultimately, [the energy transition] must be disruptive and not play into the hands of these companies.”

However, Bros argues that big energy firms are misleadingly portraying their efforts towards energy transition. “They represent themselves as incorporating methods like carbon capture for emissions from fossil fuels. Yet, I believe their actual engagement leans more towards carbon capture and sequestration, which may extend beyond their genuine expertise,” he states.

Offshore Energies UK, representing the UK’s offshore energy sector, including oil, gas, wind, carbon capture, and hydrogen, refrained from commenting directly on these findings. Nevertheless, it highlighted a previous statement from CEO David Whitehouse: “Rather than being in conflict, oil and gas, wind, and emerging low-carbon technologies form a unified system. The expertise of our workforce, the same individuals who developed the North Sea, is instrumental for achieving this transition,” he remarked.

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Source: www.newscientist.com

Trump Signs Executive Order to Transfer TikTok Ownership to U.S. Investors

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On Thursday, Donald Trump signed an executive order outlining the terms for the transaction that will transfer ownership of TikTok to US-based owners.

Trump announced that he and Chinese President Xi Jinping had reached a consensus to dissociate the popular social media platform from Chinese ownership, allowing TikTok to continue its operations in the US. He stated that the deal aligns with existing laws that mandate the closure of apps targeting American users unless they are sold to US entities.

“I spoke with President Xi, and he said, ‘Please proceed with that,'” Trump mentioned at a press briefing. “This will always be manipulated in America.”

Under this new arrangement, American investors are expected to acquire the majority of TikTok’s business and will manage the licensed versions of the app’s robust recommendation algorithms. It is anticipated that US entities will hold around 80% of the new spinoff company, with ByteDance and Chinese investors retaining less than 20%. The White House stated that the revamped TikTok will be governed by a seven-member board, composed mainly of American cybersecurity and national security specialists.

JD Vance reported that the new US entity is projected to be valued at $14 billion. He also indicated at the press conference that its estimated valuation is approximately $330 billion, in contrast to Meta, the parent company of Facebook and Instagram, which is estimated at $1.8 trillion.

Leading the group of American TikTok investors is Oracle, a US software giant, which will manage TikTok’s US functions, provide cloud computing for user data storage, and oversee app algorithm licenses. According to White House officials, ByteDance and Chinese authorities will not have access to US user data.

In addition to Oracle and its co-founder Larry Ellison, Trump mentioned that notable investors include media tycoon Rupert Murdoch and the CEO of Dell Technologies. “Great investors. The biggest. They’re not going to get bigger,” Trump stated. Vance noted that details regarding the transaction participants will be disclosed in the upcoming days.

When asked if TikTok would prioritize MAGA-oriented content, Trump responded, “I’ve always liked MAGA-related content, and I could be 100% MAGA-related if feasible,” but emphasized that the app would still promote a diverse range of content, affirming, “All groups will be treated fairly.”

This agreement has been under legal scrutiny for several months and represents a significant shift in the US social media landscape, giving domestic companies increased influence in the industry. TikTok currently has about 180 million users in the United States, and Trump believes it will aid his bid for the 2024 presidential election. This move is part of Trump’s administration’s broader strategy to gain leverage in the tech sector, having recently acquired a 10% stake in chip manufacturer Intel, prompting major companies like Apple and Nvidia to invest significantly domestically.

Trump had previously mentioned that the US government would receive favorable fees from US investors in negotiating deals with China. Last week, he stated: “The US is getting a very paid plus – I call it a paid – just to make a deal.”

However, when pressed on this matter, the president simply stated that the US would collect standard taxes from the new company, adding, “We’re going to make money; we’re going to earn a lot from taxes.”

TikTok has faced bipartisan opposition from lawmakers concerning data privacy and allegations of using the app to spread propaganda or undermine American democracy. Although TikTok has consistently denied these accusations, Congress overwhelmingly voted last year to compel the company to find a US buyer or face a domestic ban.

In January, the Supreme Court unanimously upheld the ban. On his first day in office, Trump issued an executive order delaying the prohibition and subsequently postponed its enforcement. The “TikTok savings” Presidential order Trump signed on Thursday asserted that the agreement conformed to laws established by Congress and represented a “qualified sale” that addressed national security concerns. The agreement is not expected to be finalized for another 120 days.

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At the press conference, Trump mentioned that “young people” were rooting for him to “save TikTok.” He believes he was inspired by Charlie Kirk, a conservative activist who recently encouraged him to engage with social media platforms.

“Charlie was very helpful to me. He said, ‘We should go to TikTok,'” Trump recounted.

Last week, US Treasury Secretary Scott Bescent announced that the US and China had established a trading framework following extensive discussions in Madrid, pivoting on TikTok’s future. China’s chief trade negotiator, Li Chengang, later confirmed the agreement and cautioned against US attempts to “control” Chinese firms.

Trump also alluded to the deal last week but refrained from divulging specific details.

“We’ve also reached agreements concerning “specific” companies that the youth in our nation are eager to see preserved. They will be quite pleased!” he posted on Truth Social.

Source: www.theguardian.com

Ready to Roll: German Remote Driving Company Aiming to Make Private Car Ownership Obsolete

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hWith just a few taps on the app, the electric car slowed down and came to a halt outside Berlin’s old cargo hall. There’s no one behind the wheel, but as passengers enter, a voice chimes in:

The vehicle emits a cheerful jingle before proceeding to the former runway, where traffic cones indicate various operational zones.

This isn’t an ordinary driverless car. “Bartek” refers to Bartek Sztendel, not just an automated voice from Robotaxi. A real person, stationed hundreds of meters away at a remote driving hub, controls it.

Bartek Sztendel, remote driver at work. Photo: Nicolo Lanfranchi/Guardian

Seated in a plush leather chair, he uses pedals for acceleration and braking while steering with a wheel, closely monitoring the journey through three large screens in front of him, supplemented by four discreet rooftop cameras. Headphones provide audio feedback from both inside and outside the vehicle, while sensors let him sense the bumps on the road.

Sztendel is part of Vay—a name that reflects how many Germans say “Way.” This remote driving tech firm, founded in Berlin in 2018, aims to transform urban mobility across Europe.

Vay’s communications manager, Silvia Avanzini, reviews the apps used to start and conclude remote drives. Photo: Nicolo Lanfranchi/Guardian

While the world is gradually adopting conventional self-driving taxis in cities like San Francisco and Shanghai, Vay envisions a future where remote-driven cars can pick up rental vehicles in Berlin, transport them to a desired location with a remote operator, and terminate the rental—leaving the hassle of parking to the driver. Users are charged per minute for electric rides at a rate claimed to be approximately half of current shared services.

Vay’s CEO and co-founder, Thomas von Der Ohe, plans to utilize Las Vegas as a trial area for its services, with Germany set to follow soon. A Stanford University alumnus in computer science and entrepreneurship, he mentions that American cities “have a crucial legal framework.”

Vay CEO Thomas Von Der Ohe poses with one of the electric vehicles in their fleet. Photo: Nicolo Lanfranchi/Guardian

“It made it onto page three. Germany had its share of challenges, but we collaborated closely with authorities to address everything from technical specifications to safety concerns.

Just before the summer break, the German parliament approved legislation to allow commercially operated remote-controlled vehicles in designated areas, starting December 1. Though not as daring as laws enabling firms like Waymo and Cruise to run autonomous vehicles in cities like Los Angeles and San Francisco, it still signals a new momentum for major European automakers.

An application is available to initiate and complete your journey. Photo: Nicolo Lanfranchi/Guardian

Von Der Ohe envisions a future where car ownership is no longer necessary, contributing to sustainable urban living.

Beyond engineers, the company heavily relies on drivers, which represents a significant cost. Despite the skills gap, attracting candidates for this emerging field hasn’t been problematic.

According to Von Der Ohe, many of the controllers have backgrounds from Uber and traditional taxi services, especially those who have faced safety issues. He noted that even truck drivers, worn out from lengthy hauls and time away from family, are looking for a change, including some coping with health issues due to extended vibrations.

“People see this as a promising career. They enjoy scheduled breaks and work in teams rather than isolation,” Von Der Ohe emphasized. Moreover, they earn hourly wages instead of on a per-ride basis.

Sztendel, who hails from Poland, logged extensive driving hours over several weeks before becoming certified as a remote operator. He remarked that individuals with gaming experience tend to adapt quickly, but emphasized that “serenity, strong safety, and responsibility skills” are critical. He enjoys games like Need for Speed, but described the experience of remotely controlling real vehicles as “truly incredible.”

Glancing away from his monitor, he pointed out that the large red button on the left can be pressed in an emergency, prompting the car to stop instantly.

Source: www.theguardian.com

Fewer Ownership, More Rental: French App Facilitates Access to Essential Household Goods

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Are you in need of a kitchen mixer, drill, tent, or raclette maker? Maybe there’s a bread machine, an ice cream maker, or a toast maker gathering dust in your cupboard?

If you answered yes to either of these questions, Lucy Bash has a solution for you. The French entrepreneur and creator of the successful anti-food waste app is now tackling another issue: the simultaneous overuse and underuse of everyday household items.

Bash co-founded a new app called Poppins, inspired by the endlessly deep carpet bag of the world’s most beloved nanny, filled with oversized items, including a hat stand. The app aims to connect individuals who have items they no longer need under the motto “You have fewer and more yourself.”

Bash mentioned a survey revealing that the average French citizen owns about 2.5 tons of belongings, with roughly a third of those not being used.

Poppins app.

“It doesn’t make ecological or economic sense,” she stated. “Our goal is to simplify the process for everyone to locate what they need nearby. Collective prosperity is the only path forward.”

She further explained: “The Raclette machine is a perfect example; you buy one and use it only a couple of times a year, yet it occupies half your kitchen space. Renting it out is a smart alternative.”

Since its launch in April, the app has garnered 40,000 users in France within just a few weeks. Users can browse available items in their area, some of which can be rented, while others can be borrowed. Poppins plans to establish community guidelines. Their broader mission is to promote sharing over shopping, including local rental shops and library-like lending outlets.

In the initial weeks post-launch, the raclette machine emerged as the most sought-after household item. With summer approaching, there is an increasing interest in tents and camping gear—like petancasses, beds, cribs, party supplies, barbecues, and outdoor equipment. Nearly 65% of offerings on Poppins are available for free borrowing. The moderated platform prohibits the promotion of weapons or adult toys.

Bash remarked: “The beauty of sharing combines ecological, economic, and social benefits. When sharing becomes the norm, it leads to lower production rates, which is eco-friendly. Rentals and purchases become more affordable and social through discussion.”

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“We are shifting from linear growth to cyclical growth. Linear models are no longer sustainable; they harm our planet. The necessity is clear to everyone in the sector, including major companies that are now starting to reach out to us.”

Bash indicated that even large-scale commodity companies are moving towards rental options. “This is the future. The challenge for industry leaders lies in transforming their business models.”

“We aim to make sharing straightforward, dependable, and enjoyable. The enjoyment is crucial; it gives you that life-hacker feeling. We guarantee you can find what you need within your chosen radius.”

At 33, Bash, who was born in Paris, studied at Lille’s prestigious Centre-Rail Engineering University. She became aware of the critical issue of food waste during her tenure at Nestle. Her first idea for an app arose when she witnessed a bakery discarding unsold products; upon inquiry, she learned they couldn’t donate but offered her three times the food in exchange for payment.

Currently, the app boasts over 100 million users across 19 countries in Europe and North America. It originated when Bash recognized that 40% of the world’s food produced is thrown away, generating over 8% of the planet’s greenhouse gases, while millions remain hungry. Users of Too Good To Go purchase surprise bags collected at specific times from shops and restaurants, with a total value exceeding three times the price of the app.

The Poppins app is set to launch in Belgium next year, with plans for a release in the UK in late 2026 or 2027.

Source: www.theguardian.com

Meta is facing antitrust claims in trials due to its ownership of Instagram and WhatsApp.

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Facebook’s pro-meta platform is currently on trial in Washington, accused by US antitrust enforcement officials of unlawfully creating a social media monopoly by overspending when trying to secure the deal.

Over a decade ago, the acquisition was made with the intention of eliminating potential competitors that could challenge Facebook’s dominant position as a social media platform for connecting with friends and family, according to the Federal Trade Commission. The lawsuit was filed in 2020 during the first term of Donald Trump.

The FTC is seeking to compel Meta to restructure or divest parts of its business, including Instagram and WhatsApp. This trial marks the first significant test for the FTC under the second Trump administration, following an investigation initiated during Trump’s initial term.

Meta’s Chief Legal Officer, Jennifer Newsted, described the incident as a hindrance to technology investment in a blog post on Sunday.

Newsted writes, “It is absurd that the FTC is attempting to dismantle a prominent American company while the administration works to protect China-owned TikTok.”

This situation poses a serious threat to Meta’s existence. It provides a real indication of how aggressively the new Trump administration will pursue its promises to challenge major technology companies, especially considering that Instagram generates approximately half of US advertising revenue.

Losing Instagram would be a significant blow to Meta, according to Jasmine Enberg, a top analyst at market research firm Emarketer.

Enberg stated, “Losing Instagram would also greatly impact future user and revenue growth prospects. Instagram is currently Meta’s primary revenue generator, accounting for 50.5% of the company’s ad revenue in 2025. Instagram has filled the void left by Facebook in terms of user engagement, particularly among younger users.”

Meta has been actively engaging with Trump since his election. Meta CEO Mark Zuckerberg has made multiple visits to the White House recently. Zuckerberg also purchased a new $23 million home in DC to allow him to focus more on policy issues related to American technology leadership while Meta continues its work.

A company spokesperson said, “This allows Mark to spend more time as Meta continues to work on policy issues related to American technology leadership.” The company has contributed $1 million to Trump’s initial committee and has sought to persuade the president to settle the lawsuit against Meta.

FTC spokesman Joe Simonson commented, “The FTC under Trump Vance was not prepared for this trial.”

Zuckerberg will face questions about an email that suggested acquiring Instagram as a strategy to neutralize potential competitors and expressed concerns that WhatsApp, an encrypted messaging service, could evolve into a social network.

Meta argues that the purchases of Instagram and WhatsApp in 2014 benefited users, and Zuckerberg’s previous statements are no longer relevant in the face of fierce competition from TikTok, YouTube, and Apple’s messaging apps.

The central focus of this case is how users engage with social media platforms and whether they consider the services to be interchangeable. Meta points to increased traffic on Instagram and Facebook during TikTok’s brief hiatus in the US in January, as indicated in court records.

The FTC contends that Meta holds a monopoly on the platform used for social sharing. Snapchat and Mewe from Snap are major competitors in the US market.

Mike Prucks, Vice President of Research at Forrester, believes that the trial could have far-reaching implications for the social media industry.

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Proulx stated, “The outcome of this trial, combined with the uncertainty surrounding TikTok’s future, could reshape the core of the social media market. Meta is no longer the dominant force. We haven’t seen this level of disruption since 2006-2011 during the early days of social media. We may witness a resurgence of new social media startups attempting to establish a new order in the social media landscape.”

US District Judge James Boasberg ruled in November that the FTC had sufficient evidence to proceed, but the agency faces tough questions about the viability of its claims as the trial progresses.

Former FTC Chairman Lina Khan stated that Meta relied on “buy-and-bury techniques” when acquiring companies like Instagram and WhatsApp. If Meta could not outperform its competitors, it either acquired them or restricted access to Facebook’s network and features. The case revolves around the principles of “free and fair competition,” Khan explained in an interview with NBC.

Khan emphasized, “There is no expiration date on the illegality of these transactions. I believe the entire social networking ecosystem would look different today if Facebook had not been allowed to acquire these companies.”

The trial is set to continue in July. If the FTC prevails, it will need to demonstrate in a second attempt how measures such as divesting Instagram and WhatsApp can restore competition.

Losing Instagram, in particular, could have dire consequences for Meta’s revenue.

Although Meta has not disclosed app-specific revenue figures, Emarketer’s forecast in December suggests that Instagram is expected to generate $37.13 billion this year.

While WhatsApp currently contributes only a small portion to Meta’s overall revenue, it is the company’s primary app in terms of enhancing efforts to monetize tools such as daily users and chatbots. Zuckerberg believes that a “business messaging” service like this will drive the company’s future growth.

Source: www.theguardian.com

Elon Musk’s Potential Ownership of OpenAI Could Have Negative Consequences, Despite Possibility of it Occurring

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eLon Musk and Sam Altman are not exactly best friends. Altman’s pursuit of a for-profit approach for Openai, a company founded in 2015, seems to have irked Musk. Altman’s focus on making money rather than advancing humanity’s interests clashed with Musk’s vision for Openai.

As a result, Musk, who previously attempted to acquire Twitter, has now acquired ownership of an entity called X, which is linked to Openai’s growth.

Musk, characterized by the US government as lean, efficient, and globally influential, made a substantial bid of nearly $100 million for Openai’s nonprofit sector. Musk emphasized the need for Openai to return to its original open-source and safety-focused model. However, this bid was rejected by Altman, who jokingly mentioned that he would buy Twitter for $97.4 billion if necessary.

Musk’s bid was not about enriching investors or inflating corporate valuations, but about steering AI development towards societal benefits. Although the bid to reclaim control of Openai’s nonprofit was significant, the outcome remains uncertain.

The ongoing feud between Musk and Altman may escalate further, especially considering the history of their disagreements. Musk’s bid to take over Openai’s nonprofit could be seen as an attempt to thwart Altman’s for-profit ambitions for the company.

Elon Musk and Donald Trump, Washington, January 19, 2025. Photo: Brian Snyder/Reuters

Musk’s bid for Openai’s nonprofit could have multiple interpretations, ranging from a strategic move to a mere publicity stunt. Given Musk’s penchant for unconventional actions, the true motives behind his bid remain uncertain.

There are various theories regarding the significance of the bid, including references to literature and playful numbers. However, the bid’s seriousness cannot be discounted, especially in light of potential political implications.

The bid may also reflect Musk’s attempt to disrupt the status quo and reshape the future trajectory of AI development. The possibility of Musk and Openai merging in the future cannot be ruled out entirely, given the unpredictable nature of the current situation.

Source: www.theguardian.com