Monthly Archives: October 2022

Natural gas prices in Texas shale country just turned negative amid booming production

Getty Images In the Permian Basin, natural gas for next-day delivery sank to negative $2 per million British thermal units, traders told Bloomberg. That’s the first time that has happened since 2020, when the early onset of the COVID pandemic sent commodity prices tumbling.  Prices are negative in Texas now as production surges while pipeline capacity…

Chip firm Navitas, worth $1 billion, is competing with industry leaders to replace silicon chips with more environmentally-friendly gallium-nitride ones.

  Getty Images Chip startup Navitas has a plan to make data centers more sustainable. Its cofounder and CEO, Gene Sheridan, says gallium-nitride chips can cut electricity use. But insiders said defects, knowledge gaps, and supply-chain issues hinder the shift to the new chips. This article is part of “Enterprise Tech Blueprint,” a series exploring…

Wealthy people are splurging on bucket-list trips, flying to the Arctic Circle for private-chef-catered meals, renting out African safari lodges, and spending $300,000 for a half-hour opera serenade

A guest at Singita Malilangwe House in Zimbabwe. Malilangwe House, one of safari operator Singita’s properties across Africa, can sleep up to 10 guests and costs up to $18,880 a night. Singita Luxury-travel planners say their clients are seeking more extreme experiences than pre-pandemic. Hard-to-access places like the Arctic Circle and Galapagos Islands are bucket-list…

I sailed on Norwegian Cruise Line’s new $1.1 billion Prima cruise ship with two Starbucks, a 10-story slide, and a go-kart track — see what it was like

Brittany Chang/Insider Norwegian Cruise Line’s newest $1 billion Norwegian Prima ship is ready for revenue sailings in the US. The cruise ship is the first of six “Prima class” vessels that’ll be delivered from 2022 to 2027. Let’s take a look around the 18-deck cruise ship with amenities for travelers of all ages. Norwegian Cruise…

Saudi Arabia’s energy chief slams nations for using emergency oil reserves to manipulate prices and warns of future pain from supply shortages

US President Joe Biden and Saudi Arabian Crown Prince Mohammed bin Salman at Alsalam Royal Palace in Jeddah, Saudi Arabia on July 15, 2022. Royal Court of Saudi Arabia / Handout/Anadolu Agency via Getty Images Nations shouldn’t use emergency oil reserves to manipulate prices, Saudi Arabia’s energy chief warned. “Losing emergency stocks may be painful…

Elon Musk promised on a video call with bankers that he will close the Twitter deal by Friday, according to a report

Patrick Pleul/picture alliance via Getty Images Elon Musk promised bankers he plans to close the Twitter deal by Friday, Bloomberg reported. The publication said the banks are in the process of signing the debt-financing documents. A judge gave Musk until 5 p.m. ET on October 28 to close the deal or face a trial. Elon…

Inflation could fall back to the Fed’s 2% target quicker than the market expects as housing prices are primed for a 20% decline, chief economist says

Spencer Platt/Getty Images Home prices could crash 20% as housing supply begins to rise, according to ING Economics.But a silver lining of such a steep decline in home prices is that inflation would fall quicker than expected.A swift fall in shelter CPI “could help to get inflation down to 2% far quicker than many in…

Netflix is emailing users details about how to make it easier to kick free-loaders off your account, as it cracks down on password sharing

Netflix. SOPA Images/Getty Images. Netflix emailed users on Tuesday with details about its new “profile transfer” feature. The feature allows people using a shared password to move their profile to a paid membership. The company is cracking down on password sharing, and will start charging for extra accounts next year. Netflix recently made it easier…