India's top court rejects Google plea to block Android antitrust ruling in major blow
Manish Singh
Thu, January 19, 2023
Google has been dealt a significant blow in one of its key overseas markets. India's Supreme Court on Thursday declined to block an antitrust order that requires the Android-maker to make a series of changes that could topple its financial viability.
India's apex court rejected to block the ruling against Google by the nation's antitrust watchdog Competition Commission of India. The court extended the deadline for enforcement of CCI's order by one week, however.
The matter will now go back to the country’s appellate tribunal, the National Company Law Appellate Tribunal (NCLAT), where Google previously failed to secure any relief. The Supreme Court has directed NCLAT to make its decision by March 31. The challenge for Google is that unless NCLAT reaches a decision in Google's favor by this month, the tech giant will have to make a series of changes to Android.
India is Google's largest market by users. The firm has amassed over half a billion monthly active users in the country. The vast majority of the smartphones shipped in India run Android.
The Competition Commission of India late last year slapped two fines against Google, alleging the Android-maker abused the Play Store’s dominant position in the country and required Android device makers to pre-install its entire Google Mobile Suite.
The CCI has ordered Google to not require licensing of its Play Store to be linked with mandating installation of several Google apps such as Chrome and YouTube. The watchdog has also ordered Google to allow removal of all its apps from phones and give smartphone users the ability to change their search engine provider. The CCI also fined Google $162 million in its first order.
Google warned earlier this month that if the Indian antitrust watchdog’s ruling is allowed to progress it would result in devices getting expensive in the South Asian market and lead to proliferation of unchecked apps that will pose threats for individual and national security, escalating its concerns over the future of Android in the key overseas region.
“Predatory apps that expose users to financial fraud, data theft and a number of other dangers abound on the internet, both from India and other countries. While Google holds itself accountable for the apps on Play Store and scans for malware as well as compliance with local laws, the same checks may not be in place for apps sideloaded from other sources,” the company said.
Google is facing mounting scrutiny from governments across the globe as policymakers begin to worry about the reach of technology giants and assess whether that is in detriment to local companies. Google lost its appeal against a record $4.3 billion fine in EU for using the dominance of Android to thwart competition. It’s also subject to Germany’s new regulation that targets large companies.
Indian startups rejoice as Android ruling against Google upheld
: Tour of Google's new Bay View Campus in Mountain View, California, U.S.
Thu, January 19, 2023
By Munsif Vengattil and Aditya Kalra
NEW DELHI (Reuters) -Startups in India cheered a decision by the Supreme Court on Thursday to uphold an antitrust order that forces Google to change how it runs its popular Android platform, saying the ruling would open the market for rivals and boost competition.
The Competition Commission of India (CCI) ordered Google in October to make a series of changes, such as refraining from agreements that ensure exclusivity of its search services and mandatory pre-installation of its apps. It also told Google to allow third-party app stores to be housed within its Play Store.
In a major setback for the Alphabet Inc unit, the Supreme Court of India on Thursday declined Google's request to block the antitrust directives, which the company says would hurt consumers and stall growth of the Android ecosystem in India. Google now needs to comply within seven days.
Rohan Verma, CEO of maps service MapmyIndia which launched an app in 2004, told Reuters his app had not gained market share over the years because the Google Maps app was pre-installed on many Android phones.
The CCI order states Google can't impose such requirements now.
"We are elated," said Verma. "There was negative impact over the years, we hope now consumers and device makers use our app more."
About 97% of 600 million smartphone devices in India run on Android, according to Counterpoint Research estimates. Apple has just a 3% share.
Google licenses the Android system to smartphone makers, saying it provides more choice for everyone and agreements it strikes - which critics say are anti-competitive - help keep the operating system free and open-source.
Calling the ruling a "watershed moment", Rakesh Deshmukh, CEO of Indus OS, which runs a rival app store to Google's, said allowing other app stores within the U.S. firm's Play Store in India would give consumers more choice and promote use of apps.
Naval Chopra, a lawyer at India's Shardul Amarchand Mangaldas, which has challenged Google in courts in the past, said Thursday's court decision was a landmark one.
"This is a landmark decision in the history of competition law in India and globally," he said, adding the CCI directives "may well lead to a new Indian competitor in video hosting, mapping, web browsers or, dare we say it, search."
(Reporting by Aditya Kalra and Munsif VengattilAdditional reporting by Arpan ChaturvediEditing by Mark Potter)
India releases guidelines for social media influencers accepting paid promotions
Jagmeet Singh
Fri, January 20, 2023
As the market of social media influencers is getting bigger in India, the South Asian nation has introduced endorsement guidelines to limit unfair trade practices and misleading promotions on the web.
On Friday, the Department of Consumer Affairs held a press conference to announce new guidelines to make it mandatory for social media influencers to disclose promotional content in accordance with the Consumer Protection Act, 2019.
Failing to follow the guidelines will make social media influencers liable for a fine of up to $12,300 (1 million Indian rupees). In the case of repeated offenders, the penalty can go up to $61,600 (5 million Indian rupees), the Indian government department said.
The department specified that the guidelines apply to social media influencers as well as virtual avatars promoting products and services online. The disclosures should be easy to notice in post descriptions where you can usually find hashtags or links. It should also be prominent enough to be noticeable in the content, the department said.
When it comes to promoted content in videos, the department said that disclosures for paid promotions should be placed in the video — not just in the description — and be made in both audio and video format. Influencers must also disclose if they promote a brand, service or product during livestreams, per the guidelines.
The department said the disclosures and endorsements should be in the language of the content.
"Today's guidelines are aimed at social influencers who have a material connection with the brand they want to promote on various social media platforms. So this is an obligation for them to behave responsibly," consumer affairs department secretary Rohit Kumar Singh told reporters.
The official said the department was in talks with tech companies to deploy some crawling algorithms to identify offenders. Meanwhile, consumers can file complaints if they find an influencer violating the guidelines, the secretary said.
"You can never cover it 100%. This is a cat-and-mouse thing... So, the idea is to protect the interests of the consumers and let him not be taken for a ride by showing him something as unbiased whereas actually, it is a paid thing," he added.
According to the secretary, the size of the social media influencer market in India in 2022 was $157 million. It could reach as much as $345 million by 2025.
Indian advertising industry's self-regulatory body Advertising Standards Council of India (ASCI) has welcomed the government's move.
"Influencer violations comprise almost 30% of ads taken up by ASCI, hence this legal backing for disclosure requirements is a welcome step. The [consumer affairs] ministry had been in touch with ASCI to review the various global guidelines on influencers," said Manisha Kapoor, CEO and secretary general of ASCI.
Crypto lender Genesis files for bankruptcy protection
David Hollerith
·Senior Reporter
Fri, January 20, 2023
Crypto lender Genesis Global Capital filed for Chapter 11 bankruptcy protection in New York early Friday morning, marking the latest business in the industry to file for bankruptcy as the fallout from last year's collapse in crypto prices continues to ripple through markets.
The filing estimates the firm has between $1 billion and $10 billion assets and between $1 billion and $10 billion in liabilities, with more than 100,000 estimated creditors.
A court document file later Friday showed Genesis held $5.1 billion in liabilities in the weeks following its withdrawal freeze on November 16.
The Chapter 11 filing is a long time coming for Genesis, a wholly-owned subsidiary of the Digital Currency Group (DCG), which took major losses beginning in June of last year and ultimately could no longer operate following the collapse of crypto exchange FTX.
Genesis logo displayed on a phone screen is seen through the broken glass in this illustration photo taken in Krakow, Poland on December 1, 2022. (Photo by Jakub Porzycki/NurPhoto via Getty Images)
Started in 2013, Genesis aimed to be the first all-in-one Wall Street prime broker for digital assets.
The company launched its over the counter lending business in March of 2018. By the fourth quarter of that year, the lending desk had originated $500 million in loans for the period and $1.1 billion in total.
Exactly three years later, at the height of crypto mania, the lending desk's loan originations exploded to $50 billion for the quarter and $131 billion for all of 2021.
By June of last year, that mania had begun unwinding, with crypto's total market value dropping by more than half in a matter of weeks after major crypto hedge fund — and Genesis borrower — Three Arrows Capital defaulted on $1.2 billion borrowed from Genesis.
In mid-August, Genesis' then-CEO Michael Moros stepped down as the company laid off 20% of its staff as part of a reorganization meant in part to overhaul its risk management practices.
Three months later, Genesis suspended loan redemptions and originations, with new interim CEO Derar Islim saying "abnormal withdrawal requests" following the collapse of FTX had "exceeded our current liquidity." A declaration document from Friday reveal this event amounted to a $827 million "run on the bank."
The shutdown forced crypto exchange Gemini to suspend its own lending program, Earn, which Genesis served as partner for. Some 340,000 Gemini Earn customers are now Genesis creditors.
Despite its efforts to attract additional outside capital, Genesis had no luck. Genesis laid off 30% of its staff on Jan. 5 of this year. Soon after, DCG shuttered its newer wealth management division, HQ, and more recently, suspended its shareholder dividend.
Over the first two weeks of January, Gemini co-founder and president Cameron Winklevoss refocused the company's issues with Genesis on its parent company, DCG.
In two open letters, Winklevoss claimed DCG CEO Barry Silbert had engaged in "bad faith stall tactics," and later said the executive and others misled Gemini in disclosing details of Genesis' financial health. Winklevoss also called for Silbert to step down as DCG CEO.
In response, Silbert issued a letter to DCG shareholders, which said in part: "It has been challenging to have my integrity and good intentions questioned after spending a decade pouring everything into this company."
Genesis has retained New York legal and financial firms Cleary Gottlieb Steen & Hamilton, Alvarez & Marsal, and Moelis. Kroll will serve as the restructuring administrator and publicly hosting its docket.
Along with Genesis Global Capital LLC, the filing includes affiliates Genesis Asia Pacific Pte. Ltd and Genesis Global Holdco.
The first two corporations are "100% owned by Genesis Global Holdco, LLC" and have estimated assets and liabilities between $100 million and $500 million, the filing states. Genesis Global Holdco is wholly owned by Digital Currency Group.
Genesis owes more than $3.4 billion to its top 500 creditors, which includes loans payable to VanEck's New Finance Income Fund ($53 million), DCG ($37.9 million), Caramila Capital Management ($21.5 million), LA-based Big Time Studios ($20 million), crypto trading outfit Cumberland ($18.7 million), as well as the Stellar Network's Development Foundation ($13 million).
George Glover
Thu, January 19, 2023
Barry Silbert, CEO of the Digital Currency Group crypto conglomerate.REUTERS/Lucas Jackson
CoinDesk has hired bankers to explore a potential sale, according to the Wall Street Journal.
The crypto publication broke the story that triggered FTX's solvency crisis in November.
But its owners Digital Currency Group have been caught up in the liquidity crunch plaguing the crypto sector.
CoinDesk is exploring a potential sale after its owner Digital Currency Group was rocked by the turmoil in crypto markets in the wake of crypto exchange FTX's implosion, according to media reports.
The crypto-focused news site has hired $274 billion asset manager Lazard to advise it on a sale that would carve it out from CEO Barry Silbert's under-fire DCG, the Wall Street Journal first reported Wednesday.
Crypto conglomerate DCG is scrambling to resolve financial troubles caused by a liquidity crisis. It got caught up in the fallout from the collapse of Sam Bankman-Fried's FTX and of defunct cryptocurrency hedge fund Three Arrows Capital.
Its lending arm Genesis has cut 30% of its staff and is now reportedly preparing to file for bankruptcy this week as it struggles to pay back a $3 billion debt.
On November 2, CoinDesk was the first publication to report that FTX's sister trading firm Alameda Research held significant amounts of FTX's own native FTT token.
Rival exchange Binance responded by selling all its FTT holdings, triggering a solvency crisis that led to FTX filing for bankruptcy just nine days later.
US prosecutors alleged in December that FTX's now-disgraced founder Bankman-Fried knowingly funneled trading customers' money onto Alameda's balance sheet. That led to his arrest in the Bahamas and extradition to the US to face eight counts of fraud.
As well as CoinDesk and Genesis, DCG owns the crypto mining firm Foundry Digital, the asset manager Grayscale Investments, and the investing app Luno.
CoinDesk and DCG didn't immediately respond to Insider requests for comment.
Read more: Crypto lender Genesis is reportedly preparing to file for bankruptcy as soon as this week
Crypto News Outlet CoinDesk Reported So Hard It May Need to Sell Its Site
Kyle Barr
Thu, January 19, 2023
The CoinDesk logo behind a phone also showing the coindesk logo.
CoinDesk is reportedly mulling over a potential sale as its parent company Digital Commodities Group suffers the results of the FTX fallout, which was ironically first revealed by CoinDesk.
The folks at CoinDesk were simply too good at their jobs. The crypto news site was the first to poke holes in Sam Bankman-Fried’s crypto sandcastle that was FTX, but now the company who owns the crypto news site is reportedly exploring a sale partially due to fallout from Bankman-Fried’s failed and allegedly fraudulent enterprise.
The Wall Street Journal first reported late Wednesday that CoinDesk and its parent company Digital Currency Group are considering putting the company up for sale. Specifically, the report notes that CoinDesk has retained the investment banking firm Lazard to help it explore a partial or full sale of its company.
Gizmodo reached out to CoinDesk for comment but attorneys representing the company did not immediately respond. CoinDesk CEO Kevin Worth confirmed to the Journal that his site has received multiple “indications” of interest. DCG also did not immediately respond to a request for comment.
WSJ wrote based on unnamed sources familiar with internal discussions that DCG has received unsolicited offers for the entire company for more than $200 million just in the last few months. This is even though DCG bought CoinDesk for $500,000 back in 2016, according to those same unnamed sources. CoinDesk made about $50 million in revenue last year.
But reporting from the folks at CoinDesk has been integral to revealing the full scale of alleged fraud occurring at one of the world biggest crypto enterprises. Back in November, CoinDesk’s own Ian Allison first reported based on internal documents that Alameda Research, which was Bankman-Fried’s hedge fund, relied heavily on the FTX exchange’s native FTT token. This was the first domino to fall in what would become an entirely new crypto calamity showing the FTX founder had been taking user’s funds out of his exchange and was funneling them into Alameda. Bankman-Fried is now awaiting a federal trial over eight charges of fraud and conspiracy.
These events have created another crisis for the crypto industry at large, including at DCG. It has also impacted sites that cover tech and crypto. CoinDesk leadership told The New York Times that their reporters are covering DCG like any other crypto entity. Other sites like the fledgling news outlet Semafor have talked up selling investments Bankman-Fried and FTX made with the company.
DCG was once a $10 billion crypto-minded enterprise headlined by major crypto investor Barry Silbert. The company owns several notable crypto-related companies other than CoinDesk, including Grayscale Investments, an investment management company and manager of the Grayscale Bitcoin Trust, as well as the bitcoin mining company Foundry Digital. The trust’s value has plummeted 51% in the past year, and its assets have gone from over $40 billion in 2021 to around 13.1 billion, according to Grayscale’s own metrics.
The group also owns the crypto lender Genesis, which had to shut down redemptions and loans citing FTX’s collapse. The lender admitted back in November that it had $175 million in locked funds on FTX.
Genesis was recently cited by the Securities and Exchange Commission for allegedly selling unregistered securities through its Genesis Earn Lending Program. Since the start of 2023, the lender cut 30% of its staff in the second round of layoffs in less than a year. The company is also reportedly considering bankruptcy.
So yeah, things have not gone swimmingly for DCG’s properties, but CoinDesk is a big reason for why that is. It’s a shame that the people responsible for showing just how rocky the entire crypto industry was—and continues to be—now also have their jobs at risk.
Gizmodo
DCG's crypto-lending subsidiary Genesis files for Chapter 11 bankruptcy
Jacquelyn Melinek
Thu, January 19, 2023
Genesis Global Trading, a subsidiary of the crypto conglomerate Digital Currency Group (DCG), filed for Chapter 11 bankruptcy in the Southern District of New York (SDNY) court late Thursday night.
Genesis Global Holdco and two of its lending business subsidiaries, Genesis Global Capital and Genesis Asia Pacific, filed voluntary petitions under the bankruptcy code for SDNY, its press release stated. “Genesis’s other subsidiaries involved in the derivatives and spot trading and custody businesses and Genesis Global Trading are not included in the filing and continue client trading operations,” it added.
Genesis stated it has over $150 million in cash, which it plans to use as liquidity to support its ongoing operations and facilitate its restructuring process.
As part of its filing, Genesis plans to consider a “dual track process” for sale, capital raise or equitization transaction that would potentially allow the business to “emerge under new ownership,” the release said.
The filing followed a series of attempts from Genesis to stay afloat.
The firm struggled to raise capital for its lending unit, cut 30% of its staff in early January and took a financial hit from major catastrophic crypto events last year like the collapse of crypto hedge fund Three Arrows Capital and the decline of crypto exchange FTX.
Genesis had a trading and lending relationship with both Three Arrows Capital and Alameda, FTX’s sister company, DCG’s CEO Barry Silbert shared in a letter from January 10.
“While we have made significant progress refining our business plans to remedy liquidity issues caused by the recent extraordinary challenges in our industry, including the default of Three Arrows Capital and the bankruptcy of FTX, an in-court restructuring presents the most effective avenue through which to preserve assets and create the best possible outcome for all Genesis stakeholders,” Derar Islim, interim CEO of Genesis, said in a statement on Thursday.
In mid-November 2022, Genesis halted withdrawals and new loan originations and later that month the firm warned of a possible bankruptcy filing as creditors looked for alternative options to prevent it. Around that time, a Genesis spokesperson told TechCrunch, “We have no plans to file bankruptcy imminently.” The spokespersson added, “Our goal is to resolve the current situation consensually without the need for any bankruptcy filing. Genesis continues to have constructive conversations with creditors.”
Aside from Genesis, DCG is the parent company of digital currency asset manager Grayscale, media company CoinDesk, mining and staking company Foundry, digital asset exchange and wallet Luno and API-centric platform TradeBlock. Silbert said in the mid-January letter that Genesis is a “separate and distinct operating subsidiary” from DCG.
On January 12, the U.S. Securities and Exchange Commission charged Genesis and cryptocurrency exchange, wallet and custodian Gemini for the unregistered offer and sale of securities to retail investors through Gemini Earn crypto asset lending program. The prosecutors said Genesis and Gemini raised billions of dollars’ worth of crypto assets from hundreds of thousands of investors.
“In November 2022, Genesis announced that it would not allow its Gemini Earn investors to withdraw their crypto assets because Genesis lacked sufficient liquid assets to meet withdrawal requests following volatility in the crypto asset market,” the SEC release stated. “At the time, Genesis held approximately $900 million in investor assets from 340,000 Gemini Earn investors. Gemini terminated the Gemini Earn program earlier this month. As of today, the Gemini Earn retail investors have still not been able to withdraw their crypto assets.”
CRIMINAL CAPITALI$M
Puerto Rico pushes for private power generation amid secrecy
Puerto Rico Electric Power Authority workers repair distribution lines damaged by Hurricane Maria in the Cantera community of San Juan, Puerto Rico, Oct. 19, 2017. Puerto Rico announced Sunday, Jan. 15, 2023, that it plans to privatize its electric generation, a first for a U.S. territory facing chronic power outages as it struggles to rebuild a crumbling electric grid. (AP Photo/Carlos Giusti, File)
DÁNICA COTO
Thu, January 19, 2023
SAN JUAN, Puerto Rico (AP) — Nearly two hours after meeting behind closed doors, the governing board of Puerto Rico’s power company emerged Thursday to briefly announce it was approving a plan to privatize electric generation in the U.S. territory.
No other details including the name of the company selected or how much it will be paid were provided as Puerto Ricans grow angry and exasperated with the secrecy surrounding the push to privatize the operation and maintenance of generation units.
The sole dissenting vote came from the board member that represents the public’s interest, Tomás Torres, who told The Associated Press that he saw no need for another multimillion contract with a private power company that would lead to yet another increase in people’s electric bills amid chronic outages.
He noted that the current generation units of the island’s Electric Power Authority have been recently maintained and will go offline this decade anyway because many are more than 50 years old.
“This contract is not necessary,” he said of the push to privatize the operation and maintenance of units that will eventually be replaced by renewable energy sources.
Critics like Torres also oppose the contract given the problems that arose after Puerto Rico’s power company privatized the transmission and distribution of electricity on the island nearly two years ago. He noted that the duration of power outages has since worsened, among other issues.
“Now we’re risking the same in generation,” he said.
By law, the power company’s board is not required to provide details about its meeting, nor a copy of the contract or the name of the company chosen. Board president Fernando Gil said only that the contract is for 10 years and can be revised in the fifth year.
The contract was previously approved by Puerto Rico’s Public-Private Partnerships Authority on Sunday in a unanimous vote, including by members who represent the public’s interest. It now goes to Gov. Pedro Pierluisi, who is expected to approve it.
Puerto Rico’s power grid has long been unstable given a lack of maintenance and investment, but it was crushed after Hurricane Maria hit the island as a Category 4 storm in 2017. Reconstruction efforts have just begun, with only emergency repairs made since the hurricane struck. The grid was further weakened when Hurricane Fiona, a Category 1 storm, barreled through the island’s southwest region in September, causing an island-wide blackout.
The race to make diesel engines run on hydrogen
Phil Mercer - BBC News, Sydney
Fri, January 20, 2023
Converting mining industry vehicles to hydrogen could mean big savings in CO2 emissions
It's a new hydrogen-diesel hybrid engine affectionately known as "baby number two" that could help to decarbonise some of Australia's heaviest industries.
The test rig is large - it has its own room adjoining a lab and looks at first glance like many other large motors, but beneath its metallic skin could lie game-changing technology.
Engineers at the University of New South Wales (UNSW) say they have successfully modified a conventional diesel engine to use a mix of hydrogen and a small amount of diesel, claiming their patented technology has cut carbon dioxide (CO2) emissions by more than 85%.
It's the work of Prof Shawn Kook and his team at the university's School of Mechanical and Manufacturing Engineering.
"The interest in converting an existing diesel engine into a clean-burning hydrogen engine is extremely high," Prof Kook tells the BBC at his laboratory in Sydney. Enquiries have come from Germany, South Africa, Brazil, Japan and China.
"We mount the hydrogen direct injection system into existing diesel engines, which can be applied to any conventional engine," he adds.
What makes their system unique, according to Prof Kook, is the way it mixes the hydrogen and diesel and then introduces it to the engine cylinder for combustion.
Prof Kook says there is an "extremely high" level of interest in making diesel engines run on hydrogen
Unlike fossil fuels, hydrogen does not produce CO2 when burnt, so it has long been seen as a greener fuel source.
About 90% of fuel in the UNSW hybrid diesel engine is hydrogen but it must be applied in a carefully calibrated way.
If the hydrogen is not introduced into the fuel mix at the right moment "it will create something that is explosive that will burn out the whole system," Prof Kook explains.
He says that studies have shown that controlling the mixture of hydrogen and air inside the cylinder of the engine can help negate harmful nitrogen oxide emissions, which have been an obstacle to the commercialisation of hydrogen motors.
The Sydney research team believes that any diesel trucks and power equipment in the mining, transportation and agriculture sectors could be retrofitted with the new hybrid system in just a couple of months.
Prof Kook doubts the hybrid would be of much interest in the car industry though, where electric and hybrid vehicles are already advanced and replacing diesel cars.
However, he says Australia's multibillion-dollar mining industry needs a solution for all its diesel-powered equipment as soon as possible.
It's an ordinary diesel engine but runs on 90% hydrogen
"We have so many established diesel-powered generators, mega-trucks and underground machines. How do we decarbonise all those existing diesel engines? One way is to shut down everything and get new technology in, which will take decades," he says.
The plan is for the hybrid to run off a hydrogen-diesel mix or, in the absence of hydrogen, it can revert to diesel only.
Prof Kook hopes his new generation engine will become a commercial product within two years.
Tim Buckley, the director at Climate Energy Finance, a public interest think-tank in Sydney, believes the technology has the potential to "transform the Australian mining industry dramatically".
"There's always an element of scepticism in the work I do to evaluate what is hype and hope as opposed to reality. Having said that, this University of New South Wales breakthrough does appear to be pretty material. If they can pull it off it is a huge opportunity," he says.
The Australian team is in a global race to develop hybrid diesel-hydrogen engines. Engineers in other countries are working on their concepts and designs but the Sydney team believes it has an edge.
"I think we have a breakthrough compared to most other research groups in the world where we can actually achieve a higher percentage using hydrogen over diesel," explains Xinyu Liu, a UNSW PhD student from China.
"Emission-wise, CO2-wise we can achieve a higher reduction than the other methods. The concept has been proven using the previous small-scale engine. We are trying to implement this idea into a larger scale, which is more [applicable] to industry."
PhD student Xinyu Liu (left) says the UNSW team's research is ahead of other diesel-hydrogen projects
The bigger version, or the UNSW's "baby number two", has twice the volume of the original prototype and has the potential for a "massive reduction in CO2" emissions, according to Prof Kook.
The vision is laid out in a paper published in the International Journal of Hydrogen Energy.
Much of the invention's impact on the environment will depend on where the hydrogen comes from.
While small amounts of hydrogen are being extracted directly from the ground, most hydrogen is manufactured, in a process that emits CO2.
Green hydrogen, produced by using electricity from renewable power to split water into hydrogen and oxygen molecules using an electrolyser, is seen as the answer. But the technology and the electricity needed is costly, so at the moment only a small amount of hydrogen is produced this way.
But the costs are likely to come down and with abundant sunshine and wind, Australia has a lot of potential to produce renewable electricity, which could one day be used to make more green hydrogen.
The Climate Council, an independent organisation, believes that sustainable hydrogen gives Australia the chance to end its reliance on fossil fuels.
"Australia is one of the world's largest coal exporters and the largest liquefied gas exporter," the Council wrote in a 2021 briefing. "Both are polluting fossil fuels, and Australia is paying a high cost for that with more severe and frequent extreme weather events like bushfires, heatwaves, and drought."
Australia has great potential for renewable electricity, which could be used to make green hydrogen
For now, the UNSW project remains in the nursery in the laboratory. Academic endeavour needs the financial heft of outside investment and the hands-on input and knowledge of a mining company or engine manufacturer.
"Our vision is to impact Australian mining, agriculture and construction industries first and then move out to the rest of the world to make a bigger impact," says Prof Kook.
Australia has some of the world's biggest resources companies and they have all committed to aggressive decarbonisation targets. Technology is the key.
"The idea of blending hydrogen and diesel together in an existing engine is something of a Holy Grail for decarbonising heavy industry and mining," adds Tim Buckley.
He has this existential question for the engineers at UNSW: "Can they actually deploy it in a commercial setting and replicate it outside the university?"
Mexico president says he resolved Canada firms' concerns in energy dispute
Canada PM Trudeau holds bilateral meeting with President Lopez Obrador
Thu, January 19, 2023
MEXICO CITY (Reuters) - President Andres Manuel Lopez Obrador said on Thursday he had met with representatives of four Canadian firms and resolved their problems with Mexico's electricity sector, after agreeing to see them at talks with Canadian Prime Minister Justin Trudeau last week.
The four in question were pension fund La Caisse de depot et placement du Quebec (CDPQ), ATCO Ltd, Northland Power Inc, and Canadian Solar Inc, according to an official familiar with the matter.
A spokeswoman for CDPQ confirmed its presence at the meeting on Wednesday night, without giving further details. The other companies did not immediately reply to requests for comment.
"We saw four Canadian companies, and we solved the four problems without any obstacle," Lopez Obrador told a news conference, saying the concerns related to Mexico's electricity sector. He did not name the firms.
The official said the talks, which included senior Mexican officials, had gone well. The official described them as initial discussions following on from commitments to address the firms' concerns made at the Lopez Obrador-Trudeau meeting last week.
Separately, a Mexican official familiar with the matter said a framework for solving the problems in all of the cases had been agreed on. Those agreements would be implemented in due course, the Mexican official added.
Canadian investors in Mexico that have made use of so-called self-supply permits for electricity, which the Lopez Obrador administration is trying to end, would likely have to make adjustments, the official said, referring to the discussions.
Washington and Ottawa last July started dispute settlement proceedings under a regional trade deal against Mexico's drive to give priority to its state-run energy companies, arguing the policy discriminates against their private firms.
Without naming the companies, Lopez Obrador last week said he had told Trudeau he would meet with Canadian firms with problems that needed resolving.
The Mexican president has sought to deal with U.S. and Canadian companies' problems on a case-by-case basis, but officials and industry sources are very doubtful this will be enough to put an end to the formal dispute proceedings.
As of Dec. 31, 2021, CDPQ had ownership interests in several Mexican companies, including Tenedora de Energia Renovable Sol y Viento Sapi de CV, Organizacion de Proyectos de Infraestructura and Sanfer Farma SAPI de CV.
(Reporting by Dave Graham; Additional reporting by Maiya Keidan in Toronto; Writing by Sarah Morland, Editing by Marguerita Choy and Alistair Bell)
Simply Orange Juice’s drink isn’t ‘all-natural’ and has ‘toxic’ ingredients, suit says
Screengrab from complaint against Coca-Cola and Simply Orange Juice
Julia Marnin
Thu, January 19, 2023
Simply Orange Juice is accused of deceiving health-conscious customers into believing one of its juices is “all natural” as labeled — but it’s not, a class-action lawsuit says.
What customers don’t know, according to the lawsuit filed in federal court, is that the Simply Tropical juice drink contains “toxic, manmade” ingredients known as PFAS that are commonly called “forever chemicals.”
PFAS, or polyfluoroalkyl substances, are a group of chemicals that take awhile to naturally break down and can harm a person’s health, according to the Environmental Protection Agency. The agency says these chemicals have been used in products dating back to the 1940s.
A New York man who previously bought Simply Tropical juice is suing Coca-Cola and the Simply Orange Juice Co., which is owned by Coca-Cola, alleging false and deceptive advertising when it comes to its tropical drink product, a complaint filed Dec. 28 says.
“Simply beverages are aggressively marketed to health-focused consumers with the products’ pervasive ‘all natural’ representations prominently displayed across the products’ packaging,” the complaint says.
The Simply Tropical drink “does not disclose the presence of PFAS — or any other synthetic chemical — in their ingredients.”
In a statement provided to McClatchy News on Jan. 19, Coca-Cola said it’s “aware of the lawsuit, which focuses on our Simply Tropical product, and will vigorously defend the allegations in the complaint.”
“We stand by the quality of our products,” the statement said.
The New York man argues he had an unspecified, independent third party test Simply Tropical juice drink revealing the product had high levels of certain PFAs that have been “indisputably linked to negative health effects.”
What is known about PFAS
PFAS are sometimes used as a coating for products — including clothes, furniture, cooking surfaces and more — to make them resistant to heat, grease, oil, stains and water, according to the Centers for Disease and Control and Prevention.
Studies conducted in animals have shown that exposure to high levels of PFAS could affect reproduction, the thyroid gland, the immune system and could be particularly harmful to one’s liver, the CDC says.
But more research is needed to gauge how PFAS affect a person’s health, according to the agency.
One particular PFA known as PFOA — which the man’s lawsuit claims is found in the Simply Tropical drink — is classified as a “possible human carcinogen” because of its potential link to kidney cancer, according to the National Cancer Institute.
The EPA estimates thousands of PFAS are already in the U.S. environment and can be found in drinking water, soil, food, household items such as carpets and cookware, and more.
A 2020 study conducted by Consumer Reports found that several popular brands of water, including Coca-Cola’s sparkling mineral water brand Topo Chico, contained “toxic” PFAS. Specifically, Topo Chico was found to have the highest levels of PFAS, according to Consumer Reports.
In response, Coca-Cola said its products “tested below all drinking water standards for PFAS and other criteria set by current U.S. federal and state regulatory agencies” and that the company will “prepare for more stringent standards in the future.”
What is the goal of the class-action lawsuit?
The New York man suing over the Simply Tropical drink argues he would have never bought the product if he knew the truth about its ingredients.
He believed the drink “was an ‘all natural’ juice beverage and thus was free of artificial, synthetic, and harmful chemicals like PFAS” but was deceived into buying it, the complaint says.
The man claims that Coca-Cola and Simply Orange have not only harmed him with their deception but the “public-at-large,” according to the complaint.
His lawsuit aims to recover an unspecified amount of damages to be decided upon in court for himself and other Simply Tropical consumers.
He is demanding a trial by jury.
WAIT, WHAT?!
Iran refuses to recognize Ukraine’s Crimea, Donbas as Russian territories
Thu, January 19, 2023
Hossein Amir Abdollahian
Read also: Iran may be facilitating Russian war crimes in Ukraine, Washington says
“We recognize the sovereignty and territorial integrity within the framework of international law, and for this reason, despite excellent relations between Tehran and Moscow, we have not recognized the separation of Crimea from Ukraine,” he said.
“We have not recognized the separation of Luhansk and Donetsk from Ukraine because we insist on our consistent principle in foreign policy.”
At the same time, he stressed that Russia’s war against Ukraine is a “difficult situation” caused by “provocations from NATO and Western countries.”
Earlier Serbian President Aleksandar Vucic, who is thought to be one of the staunchest allies of Russian dictator Vladimir Putin, said that Crimea and Donbas are Ukrainian territories and denounced Russia’s invasion of Ukraine.
Read also: Increased Russian suicide drone activity may point to arrival of new batch of flying bombs from Iran – ISW
The president added that he hadn’t spoken with Putin for “many months.”
Russia received hundreds of suicide drones from Iran. An Iranian state-run media source claimed on Dec. 28 that Iran will soon receive 24 Sukhoi Su-35 fighter jets from Russia likely in exchange for Iranian-made drones and ballistic missiles.
Read also: Iranian drones, though small, do great damage to Ukraine’s energy infrastructure — DTEK
Secretary of Ukraine’s National Security and Defense Council (NSDC) Oleksiy Danilov said on Jan. 13 that Moscow is currently in talks with Tehran about exchanging nuclear technology for Iranian weapons.
“Allowing these processes to go on poses a major threat to the world,” he said.
Read the original article on The New Voice of Ukraine
Hundreds more Canada-made armoured vehicles to arrive in Ukraine by summer
Roshel to supply 200 Senator armored personnel carriers to Ukraine
Thu, January 19, 2023
By Kyaw Soe Oo
MISSISSAUGA, Ontario (Reuters) - A Canadian company supplying battle-ready armoured vehicles to Ukraine plans to deliver the 200 vehicles Ottawa promised to Kyiv before summer, the firm's Chief Executive Officer Roman Shimonov said on Thursday.
Canadian Defence Minister Anita Anand visited Kyiv to meet Ukrainian officials on Wednesday and announced the supply of 200 Senator armoured personnel carriers to Ukraine, as part of its latest military assistance package.
Ontario-based Roshel Inc builds armoured vehicles for government and commercial organizations, including the U.S State Department and the National Aeronautics and Space Administration (NASA).
Its Roshel Senator armoured personnel carriers, built on Ford Motor Co's F-550 large pickup truck chassis with ballistic steel and fitted with mine-protection seats and other safety features, has been used by Ukrainian soldiers in their defence against the Russian invasion that began last February.
"Ukraine right now is in full-scale war ... and they have to have a way to transport their personnel safely, and our vehicle provides them with this solution," Shimonov said.
The Senators can be used be used as a medical evacuation vehicle or as a tactical combat vehicle, he said.
The company has established a "sophisticated" secure supply chain and has been shipping a few armoured vehicles every day, Shimonov said in an interview at Roshel's assembly plant in Mississauga.
Canada has provided Ukraine with billions of dollars in aid, including over C$1 billion in military supplies. Shimonov declined to share details, but said Ottawa's order of 200 armoured vehicles for Ukraine is expected to be delivered by summer.
(Reporting by Kyaw Soe Oo; Writing by Ismail Shakil; editing by Jonathan Oatis)
Stocking Ukraine could generate foreign military sales boom
Evgeniy Maloletka
Ryan Brobst, Bradley Bowman
Fri, January 20, 2023
Replacing the military equipment transferred to Ukraine by the United States’ NATO allies could lead to roughly $21.7 billion in foreign military sales or direct commercial sales for American industry, according to research by the Foundation for Defense of Democracies’ Center on Military and Political Power.
At the same time, backfilling the weapons these allies have sent to Ukraine with U.S. equipment could improve their capabilities and build a more effective military deterrent while lowering the Pentagon’s cost to procure these weapons. It would also enhance the quality of the weapons U.S. warfighters wield and strengthen U.S. defense industrial base capacity.
In addition to the $26.7 billion worth of security assistance the United States has committed (as of Jan. 20) to Ukraine since Russia’s Feb. 24 invasion, other NATO members have contributed billions of dollars’ worth of equipment. It is difficult to calculate precisely the cumulative value because many countries, unlike the United States, do not publish detailed lists.
CMPP relied on open-source information from the military analysis site Oryx to establish a baseline regarding the types and quantities of arms non-U.S. NATO countries have committed to Ukraine. It then identified an analogous U.S. system and used data from Defense Security Cooperation Agency announcements of FMS sales to estimate the unit price of the respective American system. The center then added the cost of all replacement systems the U.S. could and would likely provide, which totals roughly $21.7 billion as of Dec. 5.
Admittedly, such analysis is somewhat imprecise, given the uncertainty in forecasting future decisions by allied governments. The research project, therefore, required several assumptions, which certainly can be debated.
Some countries may not replace equipment sent to Ukraine at a 1:1 ratio or may seek to acquire different American equipment than predicted. Moreover, some governments will buy equipment from non-U.S. manufacturers instead.
At the same time, the actual amount of equipment provided to Ukraine (and likely needing replacement) is almost certainly understated in this research due to some equipment being provided in unknown quantities or in secret. Additionally, many NATO allies are increasing their defense budgets significantly.
NATO countries (not including the United States) have cumulatively increased their real defense spending each year since 2015, and those levels of defense spending are likely to increase further following Russia’s latest invasion. Poland, for example, is raising its defense spending from 2.2% of its gross domestic product to 3%, which will help Warsaw purchase more military equipment.
Replacing the (often legacy) equipment NATO members have donated to Ukraine with modern American systems will improve the capabilities of individual NATO members and the alliance’s combined ability to deter aggression. For example, replacing Soviet legacy multiple launch rocket systems such as the BM-21 with High Mobility Artillery Rocket Systems, which have proven very effective against the Russian military, would allow NATO members to strike adversaries with greater precision and from greater range. Replacing Soviet-era T-72 tanks sent to Ukraine with M-1 Abrams tanks would yield similar benefits.
In addition, an alliance in which individual member countries employ more common equipment is one that can train and operate together more effectively and use more efficient logistics and sustainment systems.
Increasing production to backfill NATO members will also bring benefits for the Pentagon, U.S. service members and American taxpayers. Foreign military purchases of American equipment increase the quantities produced, which “may help lower unit costs by consolidating purchases for FMS customers with those of DoD,” according to the DSCA. That can help stretch the U.S. defense budget.
Increased and predictable multiyear demand for arms can incentivize the U.S. defense industry to invest additional money into research and development at the company’s own expense. Higher rates of investment in R&D can lead to more advanced weapons, helping ensure U.S. warfighters are wielding the best capabilities possible wherever they deploy, including in the Indo-Pacific region and the Middle East.
Increased demand for American equipment and munitions will also incentivize the U.S. defense industrial base to create much-needed additional production capacity. Current U.S. industrial base production capacity cannot adequately support the Pentagon’s most significant military modernization effort in four decades and arm Ukraine to defeat Putin’s invasion while ensuring Taiwan has the means to deter an invasion from Beijing.
To be sure, investments in additional production capacity often don’t yield fruit for some time. Moreover, any additional production capacity created in the short term should be used first to equip American forces and beleaguered democracies such as Israel, Taiwan and Ukraine confronting grave current or prospective threats. With the exception of allies on NATO’s eastern flank, shipments of American arms to Europe should only come after those urgent requirements are addressed.
Regardless, decisions now to eventually backfill NATO allies with American arms to replace those sent to Ukraine will help strengthen U.S. and transatlantic security and enable the United States to once again become the arsenal of democracy. That will have benefits far beyond Europe.
Ryan Brobst is a research analyst at the Foundation for Defense of Democracies, where Bradley Bowman is the senior director of the Center on Military and Political Power.
Macron to hike military funds amid Ukraine war, new threats
French President Emmanuel Macron, left, arrives to review the troops before his New Year address to the French Army, Friday, Jan. 20, 2023 at the Mont-de-Marsan air base, southwestern France. President Emmanuel Macron is expected to unveil his vision for modernizing the military in his nuclear-armed country, taking into account the impact of the war in Ukraine and evolving threats around the world. (AP Photo/Bob Edme, Pool)
SYLVIE CORBET and ANGELA CHARLTON
Fri, January 20, 2023
PARIS (AP) — French President Emmanuel Macron on Friday proposed to boost defense spending by more than a third through 2030 and to “transform" France's nuclear-armed military, to better face evolving threats and take into account the impact of Russia's war in Ukraine.
Macron announced a proposal for 413 billion euros (nearly $450 billion) in military spending for the period of 2024-2030, to ensure “our freedom, our security, our prosperity, our place in the world.”
That compares with spending of about 295 billion euros in a similar military plan for 2019-2025.
The money would notably go to modernizing France's nuclear arsenal, boosting intelligence spending by 60%, doubling the number of military reservists, reinforcing cyberdefense and developing more remote-controlled weapons.
“Nuclear deterrence is an element that makes France different from other countries in Europe. We see anew, in analyzing the war in Ukraine, its vital importance," he said in a speech to military personnel at an air base in Mont-de-Marsan in southwest France. France is the only member of the 27-nation European Union with nuclear weapons, and the bloc is still largely dependent on the U.S. and NATO for defense.
Macron also wants to expand French submarine surveillance capacity to depths of 6,000 meters (nearly 20,000 feet), both for military reasons and to protect critical infrastructure such as undersea cables carrying energy and information across oceans that have come under threat.
Friday's speech comes as defense officials from the U.S. and allies are meeting in Ramstein, Germany, to discuss further help for Ukraine.
Macron didn’t address Ukraine’s pleas to supply French Leclerc tanks — even after a tongue-in-cheek video released Thursday by Ukraine’s defense ministry vaunting the tanks as “compact, sporty, easy to park’’ and quoting French philosopher Jean-Paul Sartre.
France already has provided Ukraine with 18 Caesar cannons, six TRF1 cannons, two Crotale air defense systems, rocket launcher units, anti-tank and anti-air weapons, armored vehicles, munitions, protective gear, medical equipment and military rations, according to Macron’s office. Earlier this month, France agreed to send AMX-10 RC armored surveillance and combat vehicles that in French are called “light tanks.”
France also is aiming to train at least 2,000 Ukrainian soldiers as part of EU-wide training efforts.
“What we are experiencing on European soil for the past year in Ukraine teaches us lessons,” Macron said.
“The threats are multiple, and mix together,” he said. “There is no longer a peace dividend, because of Russia’s aggression against Ukraine ... The international order has ceded to a state of play between nations like we have not seen in decades.”
Macron noted threats from hybrid warfare, cyberattacks and continued threats from terrorism, and called for boosting the production capacity of the arms industry to be able to help Ukraine and supply the French military.
Among lessons of the Ukraine war, Macron’s office said the French military needs to be more reactive and ready for quick deployments, and have equipment that performs well, logistical support and ammunition.
Macron wants France’s military strategy to strengthen the country’s role as an independent global power. He called for reinforcing military partnerships with European neighbors as well as countries like Egypt, India, United Arab Emirates, Indonesia, and in Africa.
The new budget plan would need parliamentary approval. Macron's centrist alliance doesn't have a majority in either house of parliament, but military officers have long lamented shrinking spending on the armed forces, and conservative and far-right parties tend to support investment in defense.
France’s military budget reached 1.9% of gross domestic product in 2021, with a goal to reach 2% by 2025, as per NATO expectations.
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Bob Edme contributed to this report from Mont-de-Marsan.
Russian Foreign Minister will not go unpunished: Ukraine condemns another anti-Semitic statement
Sergey Lavrov
Ukrainska Pravda
Thu, January 19, 2023 at 6:06 AM MST·1 min read
Ukraine called upon the authorities of Israel and Jewish organisations around the world to react to the statement made by Sergey Lavrov, Minister of Foreign Affairs of Russia, who compared Russians to Jews who were being killed by Nazi Germany during WW2.
Source: Statement by Oleh Nikolenko, spokesperson for the Ministry of Foreign Affairs of Ukraine
Quote: "The Minister of Foreign Affairs of Russia compared Russians, who are waging the war of aggression, to millions of Jews killed by the Nazis during the Holocaust. Turns out, it is not Russian missiles that are destroying residential buildings in Ukraine, but the West, which formed a coalition to deal with the ‘Russian question’.
We strongly condemn the shameful statement by Sergey Lavrov, which disgraces the memory of millions of Holocaust victims."
Details: Nikolenko stated that modern Russia is filled with hatred towards other nations. The Ministry of Foreign Affairs of Ukraine also called upon Israel and Jewish organisations around the world to react to yet another anti-Semitic statement made by Lavrov.
Quote: "At the Nuremberg tribunal Ribbentrop, Minister of Foreign Affairs of Nazi Germany, denied his involvement in Nazi crimes but it did not help him to avoid punishment. Likewise, Lavrov will not avoid it by trying to pass Russia off as the victim."
Background:
On Wednesday 18 January, Lavrov compared Russians to Jews and the West to Hitler and Napoleon.
In spring, Sergey Lavrov, Minister of Foreign Affairs of Russia, compared Zelenskyy to Hitler due to his "Jewish blood". The Ministry of Foreign Affairs of Israel strongly reacted to this statement and recalled the Russian ambassador to express protest.
