Editorial: Trump bailout plan is ‘absurd’

first_img FacebookTwitterLinkedInEmailPrint分享The Columbus Dispatch:President Donald Trump’s desire to prop up money-losing coal and nuclear plants is absurd enough on its face that one doesn’t need a lot of help arguing against it.Coal is losing its place to cleaner and cheaper natural gas. It is dirty and dangerous not only in the burning, but in the extraction. Nuclear energy has the potential to be extremely clean, but trying to make it safe renders it prohibitively expensive.The loss of coal-related jobs unquestionably has been painful for coal regions, and their anxiety is justified. Trump has exploited that anxiety and anger, winning support by making promises that are bad for the country and most likely can’t be delivered anyway.Those realities aren’t going to change; the only thing a coal bailout can accomplish, besides lining the pockets of wealthy coal owners, is saving a small number of jobs for a short time. It would do nothing to help develop jobs in alternative energy, tourism or other fields in which coal regions could build better futures.And it would come at the cost of leveling more mountaintops, fouling more streams and making more Americans sick.More: Editorial: Propping up coal, nuclear would be needless, destructive Editorial: Trump bailout plan is ‘absurd’last_img read more

TikTok Parent ByteDance in Talks to Raise $2 Billion Before Possible Hong Kong Listing: Report

first_imgIt could result in Beijing-based ByteDance eventually listing some of its biggest assets, such as Douyin, the Chinese version of TikTok, in Hong Kong.ByteDance is currently fighting to avoid US attempts to ban TikTok over national security concerns.Listing ByteDance assets could provide a major boost for Hong Kong’s market, which has been weighed down by the US-China trade war, the coronavirus pandemic and last year’s roiling pro-democracy protests.- Advertisement – Beijing is pushing its tech giants to list on Chinese exchanges.Hong Kong and Shanghai were set this week for the dual listing of Ant, the Alibaba-linked digital payments and finance provider, which would have been a world-record IPO.But it was pulled at the last minute amid an escalating dispute between Ant, whose controlling shareholder is billionaire Alibaba co-founder Jack Ma, and Chinese regulators. – Advertisement – Citing fears of systemic financial risks, Beijing has imposed new restrictions on fast-growing online lending and credit products, like those offered by Ant, in the run-up to the share issue.This was seen as potentially changing the business landscape for Ant, forcing the IPO to be shelved for now.The Trump administration has insisted on the need to ban TikTok, saying it has links to the Chinese government through ByteDance and that user data could be obtained by Beijing. The popular short-video platform has 100 million users in the US.TikTok has repeatedly denied the claim. ByteDance has avoided a ban in the country by setting up TikTok Global, which will run the short-video app’s US operations and be part-owned by Walmart and Oracle.Are iPhone 12 mini, HomePod mini the Perfect Apple Devices for India? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below. ByteDance, the Chinese parent of viral video platform TikTok, is in talks to raise $2 billion (roughly Rs. 14,800 crores) from investors before a possible listing of some of its businesses in Hong Kong, according to a report.The plan could eventually value ByteDance at a massive $180 billion (roughly Rs. 13,31,300 crores), Bloomberg News reported late Thursday, citing people familiar with the talks.- Advertisement – – Advertisement –last_img read more