Latest news with #tunneling
Times of Oman
3 days ago
- Business
- Times of Oman
China assures India to address needs of fertilisers, rare earths, tunnel boring machines: Sources
New Delhi: As per sources, China has promised to address India's three concerns, namely rare earths, fertilisers and tunnel boring machines. According to sources, Chinese Foreign Minister Wang Yi assured External Affairs Minister Dr S Jaishankar that China is addressing the three key concerns of India's needs of fertilisers, rare earths and tunnel boring machines. The Chinese Foreign Minister arrived in India on Monday for a two-day visit. Earlier on Monday, External Affairs Minister Dr S Jaishankar said in his opening remarks that the talks would cover "economic and trade issues, pilgrimages, people-to-people contacts, river data sharing, border trade, connectivity and bilateral exchanges". EAM followed up on concerns he had brought up during his visit to China in July earlier this year. During his opening remarks with Chinese Foreign Minister Wang Yi, EAM had underscored that as neighbouring nations and major economies in the world, there are various facets and dimensions of the India-China ties. "It is also essential in this context that restrictive trade measures and roadblocks are avoided", he said. Jaishankar had further noted, "Stable and constructive ties between India and China are not only to our benefit, but that of the world as well. This is best done by handling relations on the basis of mutual respect, mutual interest and mutual sensitivity". During his remarks with the Chinese Foreign Minister in New Delhi on Monday, the EAM had noted that differences must not become disputes, nor competition conflict. He added that the visit of the Chinese leader to India provides the two countries with an opportunity to review the bilateral ties, and it is also an appropriate time to exchange views on the global situation and some issues of mutual interest. The ties between India and China had plunged after the actions of the Chinese military along the Line of Actual Control in eastern Ladakh that led to a standoff. The standoff began in April-May 2020, and there was some easing of tensions due to agreements on the disengagement of troops from some friction points. Ahead of the 2024 BRICS Summit, India and China reached an agreement on patrolling arrangements along the Line of Actual Control (LAC) in eastern Ladakh, marking progress in easing tensions. The two countries have in recent months taken steps to improve their ties. India has stressed the need of taking steps towards de-escalation along LAC in eastern Ladakh. With a flux in geo-political situation amid efforts to find a solution to the Ukraine war and tariffs imposed by US President Donald Trump, Jaishankar said there is an imperative to enhance stability in the global economy as well. Wang Yi's visit comes ahead of Prime Minister Narendra Modi expected visit to China to attend the Shanghai Cooperation Organisation (SCO) summit in Tianjin from August 31 to September.
Yahoo
10-08-2025
- Automotive
- Yahoo
Elon Musk Has New Distractions on His Plate as Boring Company Drama Rages. What Does That Mean for Tesla Stock?
Elon Musk faces controversy as his tunneling venture, The Boring Company, pushes forward with plans for a 10-mile underground loop in Nashville, despite his repeated promises to focus on Tesla (TSLA) and eliminate political distractions. The timing couldn't be worse for TSLA stock investors who are concerned about Musk's divided attention. The Nashville project has sparked heated political battles, as Democratic lawmakers have demanded transparency while Republican leaders embrace the partnership. Democratic state representative Justin Jones was reportedly barred from company recruiting events and told he's 'not allowed to be here' despite representing the impacted district. A state commission held an emergency meeting to discuss a controversial 'no cost/mutual benefit' lease arrangement giving Musk access to public property. More News from Barchart Robinhood Stock Seemingly Can't Be Stopped in 2025. Is It Too Late to Buy HOOD Here? Cathie Wood Is Buying Shares of This Little-Known Ethereum Treasury Company. Should You? Dear Ford Stock Fans, Mark Your Calendar for August 11 Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. The Music City Loop proposal faces technical challenges that highlight Musk's pattern of ambitious promises that often struggle to become reality. According to a CNBC report, Nashville receives 50 inches of annual rainfall compared to Las Vegas' 4 inches, and The Boring Company allegedly has no experience building in flood-prone areas. The city has previously purchased flood-vulnerable homes to convert to green spaces, raising questions about underground construction safety. The Boring Company's previous projects offer little reassurance. The Las Vegas tunnel system cost Nevada taxpayers $50 million and has been criticized for safety violations and design limitations. It also abandoned tunnel plans in Chicago and faces allegations of ongoing worker safety violations in Nevada. For Tesla stock shareholders, this controversy represents another distraction from Musk's core automotive business. Despite promises to refocus on Tesla, Musk continues to be involved in multiple ventures. Tesla Did Not Impress Wall Street in Q2 In Q2, Tesla launched its robotaxi service in Austin, marking a pivotal moment in autonomous driving technology. The EV maker achieved its first fully autonomous rides with paying customers and no safety driver, demonstrating tangible progress toward its ambitious autonomy goals. However, near-term challenges are clouding the investment outlook for TSLA stock. The recently passed One Big Beautiful Bill Act presents multiple headwinds for Tesla's business. The legislation removes the $7,500 electric vehicle tax credit by the end of Q3, forcing Tesla to accelerate U.S. deliveries before the incentive expires. CFO Vaibhav Taneja warned that customers placing orders after late August may not receive deliveries in time to capture the credit. Additionally, changes to emission standards will eliminate penalties, reducing regulatory credit revenue from other OEMs, a historically profitable income stream for Tesla. Tesla experienced a $300 million sequential cost increase from tariffs in Q2, with two-thirds impacting automotive operations and the remainder affecting energy storage. It expects the full tariff impact to materialize in coming quarters, as manufacturing and sales cycles create timing delays. Despite these pressures, energy storage customers are showing a willingness to absorb some tariff costs, reflecting strong underlying demand. Total revenue in Q2 declined 12%, and core automotive revenue fell 16%. Is TSLA Stock a Good Buy Right Now? Analysts tracking TSLA stock expect adjusted earnings to narrow from $2.42 per share in 2024 to $1.69 per share in 2025. However, they also forecast earnings to expand to $9.46 per share in 2029. Today, TSLA stock trades at a forward price-earnings multiple of 190x, higher than its five-year average of 113x. If the EV stock is priced at 90x forward earnings, it will trade around $850 in early 2029, indicating upside potential of over 150% from current levels. Of the 41 analysts covering TSLA stock, 12 recommend 'Strong Buy,' two recommend 'Moderate Buy,' 17 recommend 'Hold,' and 10 recommend 'Strong Sell.' The average TSLA stock price target is $299, which is 10% below the current stock price. On the date of publication, Aditya Raghunath did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBC
05-08-2025
- Business
- CBC
Ford government started studying Hwy. 401 tunnel in 2021: docs
According to documents obtained by CBC News, the Ford government already studied tunneling under Highway 401, but the idea was shelved in 2021, several years before the premier announced his controversial plan.
Yahoo
05-08-2025
- Business
- Yahoo
Ford government studied, shelved Hwy. 401 tunnel research in 2021
The Ford government studied tunneling under Highway 401 to relieve congestion but quietly shelved the unreleased work in 2021, years before Premier Doug Ford announced his controversial plan for the mega-project in 2024. Those findings are in documents obtained by CBC News through a freedom of information request. The briefing notes for senior government officials, dated Feb. 19, 2025, lay out the history of work on the controversial proposal that Ford first floated publicly last year. "The project was paused in late 2021 based on government direction," civil servants wrote in the briefing note. "The planning study was not advertised, and no additional work has occurred on the project." Ford's plan would see the tunnel built from Mississauga in the west to Scarborough in the east. In April, the government began the process of finding a firm to complete a new feasibility study into tunneling or building an elevated expressway above the current highway. That study isn't expected to be completed until 2027. But the documents obtained by CBC News show that the government appears to have already conducted its own analysis and quietly shelved that detailed work five years ago. The planning study has not been released and it's not clear why the work was stopped. The civil servants say in the documents that the study examined options to compare "assumptions, findings, costing, and technical design considerations."Pair of ministries, consultant prepared the 'high-level analysis' The Ministry of Transportation and Infrastructure Ontario worked on the study with the help of an outside engineering consultant. They "conducted a high-level analysis on three tunnel concepts and two elevated roadway concepts," the note says. That work appears to have been prompted by a number of unsolicited proposals to government between 2019 and 2021 from companies pitching plans to build a 401 tunnel. The submission of such proposals is not unusual, and Ontario created a policy framework and submissions portal to streamline the process in 2019, the documents say. "(The proposals) received by the government in 2019 led to an initial assessment of the feasibility and benefits of a tunnel or similar large-scale capital infrastructure project on the central Highway 401 corridor, which would add capacity in support of decreasing congestion," the note says. The documents say firms Aecon, Cintra and Acciona all submitted unsolicited proposals. The note does not provide specifics about each individual plan but says one proposed two tunnels under the existing 401 from Highway 427 in the west to Bayview Avenue or Leslie Street in the east. One of the tunnel concepts consisted of two "large-diameter, five lane, double-deck" tunnels, the documents note. Crombie calls for 'full transparency' Neither Premier Doug Ford nor Transportation Minister Prabmeet Sarkaria's offices responded to a request for comment. Ontario Liberal Leader Bonnie Crombie is calling on the government to release all of the reports on the tunnel. Ontarians need to be able to evaluate the merits of what could be the single most expensive infrastructure project in the province's history should it move ahead, she said. "I'd like to know what the economic benefits are," she said. "I'd like to know what the environmental impacts would be. Will it meet the goal of reducing traffic and gridlock?" Crombie said she's skeptical the tunnel would cut congestion on the highway. It's possible the government shelved the work in 2021 because the civil servants found the mega-project wasn't feasible, she said. "That's why we ask for full transparency and an opportunity to see the feasibility study," she calls for release of Hwy. 401 tunnel reports NDP transportation and infrastructure critic Jennifer French said the Ford government needs to be transparent about what it already knows about the cost and feasibility of the tunnel. "This just speaks to the fact that everything the government does, whether it's infrastructure projects, transportation projects, we are always the last ones to know," she said. "If the premier is drawing from the report, or if he's ignoring the report, I would like to know." Vetting unsolicited proposals is very challenging for governments, said Matti Siemiatycki, director of University of Toronto's Infrastructure Institute. He's not surprised that after receiving the three plans from the private sector, that the government wanted to work on its own 401 tunnel analysis. "Some of them are complete hair brain schemes, and some of them have a kernel of truth to them," he said generally of unsolicited proposals. "It's very complicated and challenging for governments to sift through them and try to figure out the signal from the noise." Siemiatycki said the 401 tunnel could take decades to build and cost tens of billions of dollars. For that reason, the government should release as much of its feasibility work as possible, including information in the unsolicited proposals that isn't proprietary to the firms, he said. That also includes release of the current feasibility study planned by the province when it's completed, he added. "It should be studied independently and impartially by the technical experts, and that's what's happening," he said. "What is important now is that that study gets done and then it's released, and so that we can all see what it says."
Bloomberg
01-08-2025
- Business
- Bloomberg
Musk's Boring Co. Burns $900M, Delivers Tunnels, Not Hyperloops
Nearly a decade after Elon Musk launched Boring Co. with promises of ultra-fast hyperloop-powered transportation, the tunneling venture has little to show. Despite pitches to cities like San Jose, Nashville and even Dubai,just one of Boring Co.'s public proposals have progressed beyond the planning stage. To date, the company has only begun construction in Las Vegas, and while the city has approved 68 miles of tunnels, Boring has dug about eight miles, with fewer than four miles currently operational.
