Connect with us

News desk

Berlin tech show facing up to era of energy scarcity

Published

on

Exhibitors at this year's IFA tech show are touting smart solutions to save energy -- but many come with a large carbon footprint
Share this:

From portable solar panels to smart thermostats and “intelligent” radiators, exhibitors at the IFA tech show in Berlin are touting smart solutions for an energy-starved world.

But the clever gadgets sometimes belie their hefty carbon footprint.

The motto for the 2022 edition of the German fair for cutting-edge technology — the first since the outbreak of the coronavirus pandemic — is “energy efficiency”, a timely mission with prices for electricity soaring. 

One such exhibitor which believes it has the answer is Busch-Jaeger, whose stand is carpeted in switches and small blank screens.

The German company, owned by the Swiss group ABB, has become a specialist in “smart home” technologies. 

Their idea: to regulate energy consumption at home on the basis of a stream of data, including the current ambient temperature, the light in the room and the quality of the air.

Such devices are “more and more sought after” as the cost of energy skyrockets in Europe, says Ulf Ehling, who is tasked with presenting the company’s technology at IFA. 

– ‘Crazy’ –

A few hundred metres away, the Norwegian company Mill is offering black and white “intelligent” radiators.

Thanks to a smartphone app, users can control the temperature in their homes over the course of the day.

According to Bashir Naimy, Mill’s technical director, the device can help save “37 percent of a household’s energy”.

IFA also boasts regular displays of eccentric gadgets, among them a fridge that cools a drink in “two minutes” or an odour generator for buying perfume online.

The French company Y-Brush has descended on IFA to tout a “sonic” toothbrush that looks like dentures, which is “capable of brushing all teeth at once in 5, 10, or 15 seconds”. 

Visitors to the fair, which closes on Tuesday, are, however, preoccupied by the question of energy usage.

“When you see how much all these devices consume it is crazy,” says Justin, 23, a tech enthusiast, who came to Berlin specifically for the show.

“We’re always thinking about that,” says Christoph Boettger, 39, who has come with his partner.

European energy prices have soared over recent months in the wake of the Russian invasion of Ukraine and the subsequent throttling of gas supplies to Germany from Moscow.

The German government has launched an energy-saving campaign and tried to lead by example by reducing the temperature in public buildings, among other moves.

The energy conundrum worsened last week, as Russian energy giant Gazprom said it would not restart gas deliveries via the Nord Stream 1 pipeline after a planned three-day maintenance, pinning the blame on Western sanctions.

– ‘Internet of things’ –

“Smart home technologies can help save energy,” Sara Warneke, the director of IFA’s organisers, said Friday.

But what is the real toll of these new energy technologies?

According to a 2020 report by the French Senate the “growth in greenhouse gas emissions” from digital technologies is driven by “the internet of things” — household electronics connected to the web — and the “storage of data”.

The two together could lead to a 60 percent leap “in the carbon impact of digital technologies by 2040”.

Despite the individual energy saving potential, the total impact of these technologies may be bigger than they first appear.

The Chinese company Ecoflow, which has offices across Europe, hopes to resolve the contradiction with mini solar panels.

The long, foldable rectangles that are carried around in a special case can be used to charge a lithium battery.

Their portability means users “do not need administrative authorisation to install them”, says Franko Fischer, Ecoflow’s spokesman.

The panels can generate 2,700 Wh, enough to charge a computer, a mobile phone or a hairdryer.

“We expect consumers in Europe to have high demand for solutions like ours, because people want to be independent, especially in a crisis,” says Fischer.

In Germany, the cost of electricity has risen on average by 31 percent in the year to August, according to price comparison site Check24.

Share this:

News desk

Big Tech earnings expected as Meta share price skyrockets

Published

on

By

Meta CEO and founder Mark Zuckerberg said he was upbeat about the future of his company, despite a one percent fall in sales in 2022
Share this:

Tech giants Google, Apple and Amazon will report their latest results on Thursday as shares in Meta skyrocketed after the Facebook owner posted a smaller-than-expected slump in sales for 2022.

The results of the world’s biggest tech companies follow several weeks of unprecedented layoff rounds in the usually unassailable sector amid pessimism about the economic outlook.

The souring mood followed a long spell of outsized growth during the peak Covid-19 period when consumers went online for work, shopping and entertainment.

Meta as expected on Wednesday said sales fell last year, the first time that occurred on an annual basis since the company went public in 2012.

The social media giant said sales dropped one percent to $116.6 billion, while it also announced that the number of daily users on Facebook hit two billion for the first time.

But CEO and founder Mark Zuckerberg said he was upbeat about the future, pointing to the success of short videos and better delivery of ads after Apple made targeting users harder on the iPhone.

He also assured investors that Meta would take bolder decisions and run a much nimbler operation, hinting at more layoffs. 

Shares in Meta jumped as much as 25 percent on Thursday, setting the bar high for the earnings announcements by the other tech giants after markets closed later in the day.

Following in Meta’s wake, Google’s parent company is expected to also announce a slump in ad sales, which would be only the second quarterly fall in since the search engine giant went public in 2004.

Google, which has long seen itself as an innovation leader, was caught off guard by the sudden rise of user-friendly AI apps such as ChatGPT, which is seen as a potential rival to Google’s all-powerful search engine.

CEO Sundar Pichai last month announced a plan to lay off 12,000 people in order to reverse pandemic over-hiring and focus on new areas, especially artificial intelligence.

Apple is the only tech giant that has yet to announce major layoffs in recent weeks and investors will be taking a hard look at how its sales have been affected by China’s zero-Covid policy that was only recently lifted.

China remains the key manufacturing hub for iPhones and the drastic restrictions adversely affected Apple’s ability to export the iPhone 14 during the key holiday season.

Apple, the world’s biggest company in terms of market value, will also be burdened by a drop in smartphone sales worldwide, its key driver for profits.

According to the International Data Corporation, worldwide smartphone shipments declined 18.3 percent year-on-year to 300.3 million units in the fourth quarter of 2022.

Amazon is also expected to report a hit to sales after the company announced a round of layoffs to correct for a hiring binge during the pandemic when business growth ramped up.

Last month, the company said it would let go more than 18,000 employees after the workforce swelled by 800,000 employees during the peak years of the pandemic period. 

Share this:
Continue Reading

News desk

Asian markets drift as weak tech earnings dent recovery optimism

Published

on

By

Investors will be keeping a close watch on the release of US jobs figures
Share this:

Asian equities were mixed Friday as the optimism over a possible pause in Federal Reserve interest rate hikes again gave way to worries about the global economy as more than a year of monetary tightening kicks in.

Disappointing earnings from Wall Street titans Apple, Amazon and Alphabet — who together are worth almost $5 trillion — indicated higher borrowing costs and elevated inflation were weighing on consumer demand.

The readings came in towards the end of a week when the stocks rally that defined most of January hit the barriers as traders worried that the buying had been overdone and that there were plenty more bumps in the road for the economy.

Those concerns also overshadowed optimism about China’s reopening and recovery from nearly three years of zero-Covid policies that hammered business activity.

They also offset the positive mood created by an acknowledgement from the Fed that it was making progress in bringing inflation down from multi-decade highs, fuelling hopes it was nearing the end of its rate hike cycle.

Eyes are now turning to the release of US jobs data later on Friday, which will provide a clearer idea about the state of the world’s biggest economy.

“A softer payrolls data, so long as it does not fall off a cliff triggering a recessionary (backlash), could re-engage all the favourite trades of the year,” said SPI Asset Management’s Stephen Innes.

“Not least, it would provide the most critical evidence to date to suggest that the market’s rates pricing is more in line with reality than the Fed’s own more subtly hawkish higher for longer signalling.”

Wall Street’s three main indexes ended broadly higher, with the Nasdaq piling on more than three percent thanks to forecast-beating results from Facebook owner Meta.

However, the after-hours reports from Apple, Amazon and Google’s parent firm Alphabet brought investors back down to earth.

Apple said sales dropped more than expected in October-December, Amazon’s revenue was hit by weak consumer demand and Alphabet results fell short of estimates.

“The war in Ukraine, inflationary pressures, economic uncertainty and macroeconomic headwinds kept the consumer sentiment weak in 2022 while smartphone users reduced the frequency of their purchases,” Harmeet Singh Walia, of Counterpoint Research, said in a report on Apple.

Hong Kong led losses in Asian trade, losing close to two percent, and Shanghai was off more than one percent. Taipei was also down, while Singapore, Seoul and Wellington were flat.

Still, Tokyo, Sydney, Manila and Jakarta rose.

Futures in the Nasdaq and S&P 500 were both deep in the red.

On currency markets, the euro and pound lost further ground after weakening Thursday despite the European Central Bank and the Bank of England hiking interest rates more than the Fed.

Crude prices ticked slightly higher a day after suffering more selling pressure on concerns about the economic outlook and demand, with US stockpiles rising last week more than expected.

“Oil’s in a bit of a limbo as the market awaits tangible signs of China’s oil demand recovery,” Vandana Hari, of Vanda Insights, said.

– Key figures around 0230 GMT –

Tokyo – Nikkei 225: UP 0.4 percent at 27,518.75 (break)

Hong Kong – Hang Seng Index: DOWN 1.9 percent at 21,547.50

Shanghai – Composite: DOWN 1.2 percent at 3,245.90

Dollar/yen: UP at 128.67 yen from 128.62 yen on Thursday

Euro/dollar: DOWN at $1.0898 from $1.0918

Pound/dollar: DOWN at $1.2218 from $1.2225

Euro/pound: DOWN at 89.18 pence from 89.21 pence

West Texas Intermediate: UP 0.1 percent at $75.97 per barrel

Brent North Sea crude: UP 0.2 percent at $82.29 per barrel

New York – Dow: DOWN 0.1 percent at 34,053.94 (close)

London – FTSE 100: UP 0.8 percent at 7,820.16 (close)

Share this:
Continue Reading

News desk

Mexico invites foreign investment in clean energy transition

Published

on

By

Aerial view of the largest solar energy project in all of Latin America, in Puerto Penasco, Sonora state, Mexico
Share this:

Mexico welcomes investment by all countries in its clean energy projects, its foreign minister said on Thursday, launching a diplomatic charm offensive amid international concerns over controversial power reforms.

Several dozen ambassadors were taken on a visit to a giant solar park being built in Puerto Penasco in the desert in northern Mexico using photovoltaic panels made in China.

“We want to invite all the countries of the world, all the companies of the world” to “participate, invest, be part of the future of Mexico,” Foreign Minister Marcelo Ebrard said.

The first phase of the solar plant is due to be inaugurated in April by President Andres Manuel Lopez Obrador, according to officials.

Once completed, the park will be able to supply 1.6 million electricity users, thanks to an estimated investment totaling $1.6 billion, according to state power provider CFE.

Mexico pledged at the COP27 climate talks in Egypt in November to strengthen its emissions-cutting efforts as part of a $48 billion renewable energy investment scheme with the United States.

The Latin American nation previously committed to cutting greenhouse gas emissions by 22 percent from the business-as-usual levels by 2030, but will increase that to 35 percent, Ebrard said at the time.

The Mexican-US collaboration in renewable power comes despite tensions between the neighbors over Lopez Obrador’s efforts to boost the state’s role in the energy sector.

Mexico faces a formal trade complaint from Washington and Ottawa, which say the reforms hurt foreign investors and favor polluting fossil fuels over clean energy.

Share this:
Continue Reading

Featured