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On February 24, Baidu APP launched a new AI portal, integrated the Wenxin big model and DeepSeek model capabilities, and released a new upgraded version. This upgrade integrates intelligent experiences such as "AI search", "full network information extraction", "pinch AI summary", and "digital human intelligent body", achieving a more personalized search experience, richer content services, and broader product boundaries.On February 24, CLP Holdings (00002.HK) announced its annual results. For the year ended December 31, 2024, the companys revenue was HK$90.964 billion, a year-on-year increase of 4.35%; annual profit was HK$12.718 billion, a year-on-year increase of 65.81%; profit attributable to shareholders was HK$11.742 billion, a year-on-year increase of 76.44%, and basic earnings per share was HK$4.65. It is planned to distribute a fourth interim dividend of HK$1.26 per share in 2024.According to Russian media reports, Russian air defense forces destroyed 22 Ukrainian drones at night.February 24th news, todays intraday, the RMB exchange rate against the US dollar rebounded by more than 200 basis points. According to the research report of CICC, the performance of the domestic equity market continues to be positive. If the good stock market sentiment can continue, the slow inflow of cross-border funds will help push up the RMB exchange rate.According to RIA Novosti: Russian Deputy Foreign Minister Bo Ai said that Russia "clearly and in great detail" explained to the United States that Ukraines only ceasefire plan is unacceptable.

The United States is contemplating adding more ethanol to gasoline in order to cut pump costs

Charlie Brooks

Mar 31, 2022 10:36

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The assessment comes as President Joe Biden attempts to rein in surging gas prices, which reached a new high last month after Russia's invasion of Ukraine in late February. To punish Russia for the invasion, the United States and other consumer nations have blocked imports of oil from Russia, a key global supplier.


Increasing the amount of ethanol in gasoline mixes has the potential to lower petrol prices at U.S. gas stations since ethanol, which is derived from maize, is now less expensive than plain gasoline.


The EPA said it couldn't comment on whether the move was being considered, but that it was "examining a number of measures throughout the administration to assist offset repercussions from Russia's activities on American consumers."


The ethanol sector would appreciate the measure, as it has sought to raise sales of the E15 fuel mix and abolish summertime limits on it. E15 contains up to 15% ethanol, compared to 10% in regular gasoline in the United States.


The summertime ban on E15 was established due to fears that it adds to pollution in hot weather, despite studies indicating that the 15% mix of fuel may not increase smog in comparison to the more prevalent 10% blends available year-round.


A bipartisan coalition of Farm Belt politicians in the United States has lobbied the White House to repeal the summertime restriction.


Earlier this month, senators from Iowa and Illinois, the two largest corn-producing states, requested Biden in a letter to authorize the sale of E15 during the 2022 driving season, saying that the increased ethanol would cut consumer prices.


However, since ethanol is manufactured from maize, the change has the potential to raise food prices. Previously, the Biden administration investigated whether suspending rules for biofuels to be integrated into the nation's fuel mix may help offset a rise in food component prices such as maize and soy oil.


Inflation is considered as a key danger to Democrats in the midterm elections in November.

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