With the proliferation of solar panels and wind turbines an unusual phenomenon is becoming more and more frequent: wholesale electricity prices turn negative. Prices turn negative on the spot wholesale electricity market when production is strong while demand is weak.

Renewables overproduction turns electricity prices negative

Swiss commodities giant Glencore announced Wednesday that it had decided against spinning off its coal business for now after consulting shareholders who view the polluting fossil fuel as a cash-generating activity. Glencore completed its takeover of the steelmaking coal unit of Teck Resources in July following a protracted battle over...

Swiss mining giant Glencore drops plan to exit coal

USD dollar index futures are very slightly higher (+0.01%) this morning with 10-yr. (-1.38%) and 30-yr. (-1.38%) bond yields lower. Gold (+0.09%) and oil (+0.60%) and copper (+2.05%) are rallying while silver (-0.11%) is down. Stock futures are mixed (-0.15% - +0.05%), with risk barometer Bitcoin (+5.81%) up sharply. Copper...

Copper Up, Gold Up, Stocks Flat

Reuters

RIO DE JANEIRO (Reuters) - Brazilian state-run oil company Petrobras will pay extraordinary dividends if there is an "opportunity" for it, Chief Financial Officer Fernando Melgarejo told investors during an earnings call on Friday.

Brazil oil producer Petrobras open to extra dividends this year

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NewsNinja

A lady is cautioning others about purchasing budget earrings from Amazon, Shein, and H&M, after she experienced keloid formations on her earlobes due to wearing them. On a TikTok post that has garnered more than 334,000 likes, Sailor Rozema (@sailor.rozema), a content creator, shares a warning with her community of "dangly earring girls": the inexpensive jewelry found in fast fashion can have negative impacts on your well-being.

‘I’ll never be wearing earrings for the rest of my life’: Customer warns against buying from Shein

New Orleans, LA

Axios

A boil water advisory that's been in place for most of New Orleans since Tuesday night was lifted for Algiers Point but remains for the East Bank as testing continues, the Sewerage and Water Board said Thursday afternoon. Why it matters: Two of the 90 water samples SWBNO tested in...

New Orleans' boil water advisory lifts for Algiers but continues for East Bank

The EV maker's shares, which closed down 3.9%, were up about 3% in extended trading. The deal comes just ahead of Lucid's planned production of its much-awaited Gravity SUV later this year and keeps the EV maker sufficiently funded till the fourth quarter of 2025. Ayar Third Investment, an affiliate...

Lucid gets $1.5 billion cash infusion from Saudi shareholder, beats revenue estimates

Seattle, WA

An extra active solar cycle this year and heightened sunspot activity this week means Seattle-area aurora seekers should be on alert for upcoming shows, one expert recommends. Why it matters: One of the strongest solar flares in decades produced jaw-dropping views throughout the continental U.S. in May. Driving the news:...

Super active sunspots could bring auroras to Seattle

Florida State

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Uncovering Florida

Most people are guilty of doing it at least once in their lives, many people do it by accident, some do it because they find it fun, and others do it for reasons like honoring loved ones. Regardless of the situation, just about everyone has released a balloon. The difference is that intentionally releasing balloons is now illegal by House Bill 321’s standards.

Law Signed By DeSantis Makes It Illegal To Release Balloons In Florida

Markets Insider

Trump's re-election could be 'perilous' to stocks, given his economic policies, three researchers said.

The 'Trump dump': The presidential hopeful causes deep stock losses in companies and industries he targets, researchers say

San Diego, CA

Mayor Todd Gloria and his staff increased spending limits on city contracts without required city council approval, and sought late approval for millions of dollars in additional spending, a July audit revealed. Why it matters: Violating city contracting rules shows a lack of public oversight and transparency in how millions...

Audit reveals San Diego spent millions on contracts without required approval

Denver, CO

David Heitz

More dangerous substances are entering the Denver drug supply, Harm Reduction Action Center warned in a newsletter this week. “The Iron Law of Prohibition posits that as law enforcement becomes more intense, the potency of prohibited substances increases,” HRAC Executive Director Lisa Raville wrote in the newsletter. That is exactly what is happening, she said.

Dangerous substances entering Denver drug supply

Colorado State

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

Goldman Sachs issued a warning that an S&P 500 correction is imminent and advised investors against buying the dip. In a note to clients, an analyst at the investment bank highlights several indicators pointing towards a downturn in the market. He points out that July 17 typically marks the end...

Goldman Sachs says S&P 500 correction is coming, urges investors not to buy dip

With hurricane season posing a consistent threat six months out of the year, who would not like a little help getting their home ready for the harsh weather to come? Senate Bill 7028: My Safe Florida Home Program, approved by Governor DeSantis on April 24, 2024, and effective as of July 1, appropriates a one-time total of $200 million from 2024 to 2025 for the purpose of funding hurricane mitigation grants and inspections, as well as outreach and administration costs, to support homeowners in Florida.

DeSantis Signs New Bill Giving $200 Million To Homeowners

Utah State

The Utah Arts Festival is facing a $200,000 deficit after June's event fell short of attendance and revenue expectations. Why it matters: Organizers say the losses are placing the nearly 50-year-old festival's future "in jeopardy" and are asking the public for donations. "We do not currently have the financial capacity...

Utah Arts Festival facing $200K shortfall after low 2024 attendance

Chicago, IL

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Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

The results of the Tornado Cash sanctions, two years out, are mixed. Why it matters: The strongest argument for blockchain technology has always been truly neutral money. In other words: a way to transact value that no one can step in and prevent. ("Censorship resistance" in industry-speak.) Driving the news:...

Sanctions have slowed Tornado Cash, but usage is rising

The Denver City Council accepted Monday two grants totaling $24.5 million from the state of Colorado to pay for the homeless navigation campus it opened last year. One council member wants answers as to why wraparound services at the campus aren't up and running.

Denver homeless hotel wins $24.5 million grant, experiences wraparound services delay

ABC News

Recent market turmoil won't matter but a downturn could, experts said.

What could the economic slowdown mean for the election?

NewsBreak

Glencore reverses course on coal unit spinout

Glencore, the Swiss commodities giant, announced that it no longer plans to spin off its coal business. Why it matters: This reflects how some institutional investors...

Glencore reverses course on coal unit spinout

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