Top Headlines May 2011 - part 10

India to Boost Renewable Energy Capacity by 2017

India to Boost Renewable Energy Capacity by 2017

ECONOMY

  • India capable of producing 20 GW of renewable energy
  • India to increase renewable energy capacity by 17 GW from 2012-2017 at the cost of $34 billion
  • 40% of India’s power consumption comes from coal, 24% from oil

India has stepped up its green focus with plans to increase renewable energy capacity levels by 17 gig watts by 2017, a government spokesperson reported. Renewable energy secretary P. Uma Shankar reported that the ambitious 5-Year Plan would cost almost $34 billion.

Between 1994 and 2007, India’s carbon footprint increased by over 50%, with around 40% of energy consumption coming from coal and 24% from oil, according to the International Energy Agency. It is among the top-five greenhouse gas polluters in the world.

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Sector Snapshot: Global Automotive Industry

Sector Snapshot: Global Automotive Industry

BUSINESS

  • China largest single-nation producer of vehicles in the world
  • Japan second largest vehicle manufacturer and home to biggest global carmaker Toyota
  • US biggest world producer of commercial vehicles in 2010

The global automotive industry is one of the biggest generators of revenue across all economic sectors. China is the single largest vehicle producer in the world. In 2010 it produced a total of 18.2 billion vehicles, including 13.9 million cars and 4.4 million commercial vehicles, according to the International Organization of Motor Vehicle Manufacturers (OICA).

With a combined total of 9.6 million units, Japan is the second-largest vehicle manufacturer and home to the biggest carmaker in the world in Toyota. Together with Nissan and Honda, they provide car parts to just about every manufacturer in the world. The aftermath of the earthquake and tsunami that hit Japan in March is continuing to disrupt production across the country, which is sending global car prices higher.

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Facebook in Control of the US Display Ad Market

Facebook in Control of the US Display Ad Market

BUSINESS

  • Facebook accounted for over 31% of all online display ads viewed in the US in Q1
  • Yahoo ranked second, with less than one third of Facebook’s ad views
  • Facebook is attracting more and more brand advertising

Facebook is on track to become the world’s most-profitable online display advertising company, following a strong showing in the first quarter of 2011.

The social network site accounted for over 31% of the 1.1 trillion display ads viewed in Q1 by Internet users in the United States, according to Internet intelligence group comScore.

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US Corporation for Public Broadcasting Aims to Up US Graduation Rate

US Corporation for Public Broadcasting Aims to Up US Graduation Rate

ECONOMY

  • US Corporation for Public Broadcasting launches $4.4 million project to raise national graduation rate
  • TV star America Ferrera enlisted to promote initiative
  • Around 70% of students graduated in 2010, according to research group Gallup

The United States Corporation for Public Broadcasting (CPB) has launched a new initiative to lift high school graduation rates throughout the country.

In 2010, only around 70% of US high school students graduated, and among African American and Hispanic students, the figure dropped to under 60%, according to a survey conducted by news and research group Gallup.

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Mobile Apps Offer NFC Benefits without the Price Tag

Mobile Apps Offer NFC Benefits without the Price Tag

BUSINESS

  • Dwolla Corp releases free app that provides mobile payment services similar to NFC
  • Major brands like Google, Apple, Samsung and Nokia all experimenting with NFC
  • Dwolla Spots is available on Google's Android OS, Apple's iOS and Windows 7

A new smartphone application is offering consumers many of the benefits of near-field communication (NFC) without having to foot the bill for the expensive hardware.

US company Dwolla Corp has released the first free app that combines proximity-based smartphone technology with mobile payment services, therefore mimicking the virtual check-out process proposed by NFC technology.

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FluPhone App Monitors Spread of Infectious Diseases

FluPhone App Monitors Spread of Infectious Diseases

WORLD

  • FluPhone app could help track the spread of diseases and limit possible epidemics
  • Researchers aim to use data collected as a simulation of social interaction during a real epidemic or pandemic
  • Influenza vaccine can prevent up to 90% of flu-specific diseases, according to the World Health Organization

A new mobile phone application may help monitor the spread of infectious diseases like the flu.

Developed by researchers at the University of Cambridge, the Java-based FluPhone app uses Bluetooth to allow phones to “talk” to each other, recording how many people a supposedly infected person comes into contact with.

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Turbine Leader Vestas Signs 100 MW Wind Power Deal in China

Turbine Leader Vestas Signs 100 MW Wind Power Deal in China

BUSINESS

  • Vestas to install 50 wind turbines in Shandong, China
  • China world’s largest producer of wind turbines
  • China aims for green energy to make up 8% of all power produced in 2020

Wind energy specialist Vestas has secured an order for 50 turbines, with a total capacity of 100 megawatts from the ever-expanding Chinese market. The Danish turbine manufacturer will install 50 V90-2.0 MW units in China’s Shandong Province, with delivery scheduled for the second half of this year.

At the customer’s request, further details of the deal were not revealed.

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US Senate Ready to Push Energy Legislation Bills

US Senate Ready to Push Energy Legislation Bills

ECONOMY

  • Democrats want a Clean Energy Deployment Administration body
  • Proposals being finalized to reduce nuclear and increase offshore drilling safety
  • Bill to be put forward to revoke tax breaks for oil companies

The United States Senate may vote on several energy bills later this month, following an acknowledgement from Majority Leader Harry Reid that the Senate is “way behind” on energy-related issues.

Reid said he wanted to put to vote a series of energy legislation bills from the Senate Energy and Natural Resources Committee, led by Democrat Senator Jeff Bingman, before the end of the month.

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AOL Profits Plummet as Display Ad Figures Rise

AOL Profits Plummet as Display Ad Figures Rise

FINANCE

  • AOL profits fall 86% for Q1 2011; revenue down 17% to $552 million
  • Display ad revenues rise 4% to $130.5 million
  • Acquisition of The Huffington Post, GoViral and TechCrunch could help improve finances

Internet company AOL saw profits dive 86% in the first quarter of 2011, but reported strong revenue figures from advertising.

Total income dropped to $4.7 million for the quarter, with revenue falling 17% to almost $552 million. Last year in the same period, it posted profits of $78 million.

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UK e-Book Sales Soar as Print Hangs On

UK e-Book Sales Soar as Print Hangs On

BUSINESS

  • Digital book product sales in the UK rise 20% to £180 million (over $297 million) in 2010
  • Average digital book price in the UK is £4.56 ($7.54)
  • Global e-Book market grew 200% in 2010

The popularity of e-Books is on the rise in the UK, with digital book product sales increasing 20% to £180 million (over $297 million) in 2010.

General consumer digital sales rose fourfold to £16 million ($26.5 million), with fiction titles accounting for £6 million ($9.9 million) and £1 million ($1.65 million) apiece for non-fiction and children’s books.

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