Tesla Dumped by Danish Pension Over Labor Rights, Musk's Actions
'Patience has a way of running out at some point,' AkademikerPension Chief Executive Officer Jens Munch Holst said on Friday. 'We've now reached that point when it comes to Tesla.'
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Business Insider
20 minutes ago
- Business Insider
Parts of Europe are suspending postal shipments to the US — and your order may not arrive
If you have been eyeing something from overseas, you may want to click "buy now" today. Postal services operated by Norway, Sweden, Denmark, and Belgium — Posten Bring, PostNord, and bpost — said they will suspend parcel shipments to the US ahead of the end of a customs exemption that allows low-value packages to enter the country duty-free. The conundrum facing postal operators comes as the Trump administration prepares to suspend the " de minimis" exemption starting on August 29. The exemption used to allow international shipments under $800 to cross the border with minimal paperwork and no duties. Now, these shipments will face tariffs, and not every operator can handle the customs declaration paperwork, have a payment mechanism in place, or be responsible for returns should a receiver refuse to pay tariffs. It's unclear when the temporary freeze on shipments will resume. "Due to the short timeframe to adapt to the new specific requirements, PostNord will temporarily halt shipments to the United States and Puerto Rico until a compliant solution has been developed and implemented," wrote the operator owned by the Swedish and Danish governments in a statement on Wednesday. Separately, Posten Bring, Norway's primary postal provider operated by the government, said in a statement that postal services have not been given clear instructions and solutions on how the duties will be paid or who would be responsible for returns. Therefore, Posten Bring sees suspension as the "only option." All three European postal services will suspend shipments starting August 23, which applies to all packages other than letters. This means that if you have a pending purchase that is not shipped by the deadline, your seller may need to cancel your order or arrange alternatives. But even if you're not purchasing from these specific European countries, your shopping options might still dwindle and become more costly. Etsy, the US e-commerce giant and a hub for independent crafters, posted a notice Wednesday that shipping label purchases for Australia Post, Canada Post, Evri, and Royal Mail for US-bound packages will be temporarily suspended starting August 25. Etsy wrote in a statement that these operators are unable to support prepaid duties at the moment, which may result in a large number of rejected packages due to unpaid duties and surprise costs for buyers not listed at checkout. Across social media platforms, many independent sellers based in the UK are also announcing that they can no longer support orders to the US, citing the introduction of an $80 flat fee plus handling charges for using Royal Mail to ship parcels to the US. "We hope to resume shipping as soon as we can, but we really don't want our customers to be hit with an $80+ fee," wrote the Citrine Circle, a UK-based crystal shop, on Instagram. "It feels like the world is getting smaller and smaller."
Engadget
an hour ago
- Engadget
Oracle will reportedly power a giant data center with gas generators
Bloomberg has published a deep dive into operations at Oracle, chronicling the software giant's rise in cloud computing and current push into powering artificial intelligence projects. The publication reported that Oracle has promised to develop tens of billions of dollars in data centers, which have become a hot business. Notably, Oracle landed a deal to back operations at OpenAI, in a partnership that will give the AI company 4.5 gigawatts of computing power . According to Bloomberg , that's enough energy to power "millions of American homes." So far, Oracle has seemed willing to throw money at its AI data center projects, no matter how expensive or irresponsible the needs might be. For instance, a source said the company plans to spend more than $1 billion a year powering a single data center in Texas with gas generators rather than waiting for a utility connection to be built. When completed, this data center is expected to be one of the largest known sites, with computing power of 1.4 gigawatts. In addition to the huge monetary cost, such a project can also have negative human and environmental impact. The Elon Musk-owned xAI is under fire after a supercomputer for its artificial intelligence operations became a primary source of air pollution in Memphis thanks to methane-powered turbines. Other majors, including Google , Microsoft and Meta , have chosen to try nuclear power for their data center projects, which comes with its own potential complications and risks. Purely on the financial side, Oracle's decision to invest so much so quickly meant the company reported its first negative annual cash flow since 1990. Should the current rates of AI investment turn out to be a bubble, it could be very bad news to have many billions of dollars on the line.
Business Journals
2 hours ago
- Business Journals
Danish water solutions giant expands U.S. presence with Newterra acquisition
Grundfos, the Danish water solutions provider, has made a strategic move to strengthen its position in North America's water treatment market.
