On this day:
Rameses II (The Great) (19th dynasty) becomes pharaoh of Ancient Egypt.
526
A devastating earthquake strikes Antioch, Turkey, killing 250,000.
1678
The Godiva procession through Coventry begins.
1889
Johnstown Flood: Over 2,200 people die after a dam break sends a 60-foot (18-meter) wall of water over the town of Johnstown, Pennsylvania.
1935
A 7.7 Mw earthquake destroys Quetta in modern-day Pakistan: 40,000 dead.
1970
The Ancash earthquake causes a landslide that buries the town of Yungay, Peru; more than 47,000 people are killed.
The decisions limit economic opportunities for Alaskans, but East Coast denizens should care, too. Denying the construction of the Ambler Road blocks access to a wealth of minerals needed for the Biden administration’s clean-energy agenda. The government’s right hand would be wise to consult what its left is doing.--Montalbano
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Engineers have discovered 'kill switches' embedded in Chinese-manufactured parts on American solar farms, raising fears Beijing could manipulate supplies or 'physically destroy' grids across the US, UK, and Europe.
In 2023, McDonald's bought 2 billion eggs from agribusiness giant Cargill.
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Data center developers in Northern Virginia are asking utility Dominion Energy Inc. for as much power as several nuclear reactors can generate, in the latest sign of how artificial intelligence is helping drive up electricity demand.
Dominion regularly fields requests from developers whose planned data center campuses need as much as “several gigawatts” of electricity, Chief Executive Officer Bob Blue said Thursday during the company’s first-quarter earnings call. A gigawatt is roughly the output of a nuclear reactor and can power 750,000 homes.
Electric utilities are facing the biggest demand jump in a generation. Along with data centers to run AI computing, America’s grid is being strained by new factories and the electrification of everything from cars to home heating.
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Addiction kills more Americans than cancer or heart disease, but only 4% of people with substance use disorders currently receive medication.
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The rising value is not just of players but of teams. Last year, the Phoenix Suns sold for $4 billion (with the WNBA’s Phoenix Mercury). To put that number in perspective, the Brooklyn Nets sold for $3.3 billion in 2019, the Houston Rockets sold for $2.2 billion in 2017, and the Atlanta Hawks sold for a mere $850 million in 2015.
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In the UK online is now on par with TV in terms of how people consume news.
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The largest school district in Texas announced its libraries will be eliminated and replaced with discipline centers in the new school year.
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it’s not just how much an economy invests in capital equipment, but also how long that equipment can reasonably be expected to last. The data shows that the typical US capital investment, with its greater emphasis on rapidly evolving information technology, is depreciating faster than it used to.--Taylor
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29% of all workers in agriculture and 25% in construction are immigrants.
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Rural regions rule the doctor rankings: Alaska, Wyoming and Nebraska join the Dakotas in the top five states for physician pay, confounding the intuition hammered into our souls by more than a decade of covering economics. None of those are high-earning states overall, with the evergreen exception of Alaska. They’re also not high-cost: North and South Dakota rank 41st and 45th, respectively, in cost of living among the states and D.C.; only Alaska costs more than average, according to the Bureau of Economic Analysis.
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The S&P 500 index is meant to represent 500 companies. It has become so concentrated due to the rise of Mag 7 stocks that its effective diversification is less than 60 stocks.
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“A 2024 IQVIA report shows that the share of clinical trials launched by Chinese-headquartered biopharmaceutical companies rose from 3 percent in 2013 to 28 percent in 2023, suggesting a growing involvement of Chinese companies in early-phase drug development.“
Only 7% of people made it through Nobel Prize economist Daniel Khaneman’s “Thinking Fast and Slow”.
SpaceX, which accounted for 38% of all mutual fund assets invested in private companies, is responsible for mutual funds’ net gain on their private-company investments. Absent SpaceX, mutual funds have collectively lost about 1.3% on their private positions.