Web 2.0 Summit: Mary Meeker on how long the recession will last
Mary Meeker, the famous Internet analyst at Morgan Stanley, spoke at the Web 2.0 Summit in San Francisco today. She recited the litany of bad economic news that we currently face. She noted, for instance, that GDP quarter-to-quarter decline in the third quarter was the worst since 1980. Our home ownership is up, but so is debt, and personal savings for Americans has dipped below zero per year. The days of easy credit are over,… Continue Reading
Market rallies as U.S. automaker, bank and tech stocks all surge
The U.S. markets underwent a big rally during the first part of trading on Monday, perhaps a testament to newfound optimism in the plan by several countries to stabilize the banking sector. The Dow is up around 7 percent, over the 9,000 mark for the first time since falling below that mark last Thursday.
Update: The Dow and Nasdaq rallied much higher before the close of the market. Both ended the day with gains of over 11… Continue Reading
Atlantis Resources nearing deployment of first commercial tidal energy installation
While largely overshadowed last week by the leaking of Google’s patent application for a floating, wave-powered data center, a deal by Singapore-based tidal energy developer Atlantis Resources to acquire Current Resources means we could be moving closer to seeing the first commercial-scale turbine farm built under the ocean.
The deal will allow Atlantis to scale up its operations and to deliver its first large projects by combining its technological know-how with Current Resources’ expertise in project… Continue Reading