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July 8th - According to media reports, Xiaomi Auto recently launched the brand name "SkyNomad" and the Chinese name "澎程" (Pengcheng), emphasizing a new brand image focused on space and lifestyle, which has attracted considerable attention. According to Tianyancha intellectual property information, Xiaomi Technology Co., Ltd. has applied for registration of multiple "SKYNOMAD" and "澎程" trademarks, covering international classifications such as transportation vehicles, machinery and equipment, and communication services; some of these trademarks have already been successfully registered.July 8 – The Reserve Bank of New Zealands Monetary Policy Committee unanimously agreed today to raise the Official Cash Rate (OCR) by 25 basis points to 2.50%. Global oil prices fell significantly with the partial reopening of the Strait of Hormuz. Prices of other petrochemical products also declined. Therefore, short-term inflationary pressures have eased somewhat. However, despite the decline in energy prices, the effects of the energy shock will persist for some time, and the outlook for medium-term inflationary pressures remains uncertain. The current monetary policy stance aims to bring inflation back to the target level while avoiding unnecessary economic instability. The New Zealand economy was on a recovery track before the Middle East conflict, but economic momentum weakened in the June quarter due to the oil price shock. The outlook for medium-term inflationary pressures depends on the extent to which recent cost increases have been passed on to price increases. With inflation still above the target level and economic activity expected to strengthen, further reductions in monetary policy stimulus may be necessary to bring inflation back to the 2% target midpoint. Future interest rate decisions will depend on newly released economic data, price formation behavior, and the impact of the strength of economic activity on medium-term inflationary pressures.Reserve Bank of New Zealand: There is uncertainty regarding the level of the neutral interest rate.Reserve Bank of New Zealand: The Monetary Policy Committee has differing views on the inflation outlook.The Reserve Bank of New Zealand expects domestic economic growth to recover in the September 2026 quarter. Lower fuel prices will support a recovery in consumption.

A fire at an Australian power station won't make the energy crisis worse, says a market operator

Charlie Brooks

Jun 20, 2022 11:04

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The fire that blasted through a New South Wales power plant over the weekend would not impact electricity supply, the Australian Energy Market Operator (AEMO) said on Sunday, ruling out a worsening of the energy crisis gripping the east of the nation.


A quarter of 23,000 megawatts (MW) of coal-fired capacity has been brought down for maintenance or unscheduled outages in the densely populated east since mid-May. Coal supply interruptions and rising worldwide coal and gas costs have aggravated the problem.


The AEMO, which runs the nation's power and gas networks and markets, said on Friday that there was sufficient electrical supply to meet the weekend's anticipated demand, relieving immediate concerns about probable east coast blackouts.


The agency announced on Twitter (NYSE:TWTR) late Saturday night that it was aware of a "substation fire" at the Tallawarra power station in Yallah, a suburb of Wollongong, a city located approximately 80 kilometers (50 miles) south of Sydney, but that the blaze was not expected to further strain power supply.


AEMO said, "We want to reassure consumers in (New South Wales) that this will not affect the electrical supply."


The fire was caused by a mechanical breakdown in a redundant transformer, according to fire officials, and more than sixty firemen are attempting to contain it.


More than 10,000 litres (2,600 gallons) of oil caught fire, and putting it out is expected to take many days, according to the news website Nine.


Matt Kean, the treasurer of New South Wales, said that the outlook for the energy market was positive after another power producer resumed operations on Saturday night.


"The recommendation of the AEMO is that there is more than adequate supply to fulfill demand for the foreseeable future," Kean told reporters in Sydney on Sunday.


The Australian Energy Market Operator (AEMO) stopped the national energy market on Wednesday, seizing control of supply and price in an unprecedented move supported by Australian Prime Minister Anthony Albanese, who claimed it was necessary to prevent "gaming" of the system.


Since then, coal-fired generators have restored 1,900 MW of power, lessening the likelihood of blackouts, according to the Australian Energy Council.

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