The Global Economic News

This giant solar heating system will help keep the Magna Carta at the perfect temperature. Home to the Magna Carta and a collection of handwritten Beatles lyrics, the British Library is a treasure trove of historic artefacts - but that doesn’t mean it’s stuck in the past. The UK institution recently installed the country’s largest solar heat installation in a bid to keep bookworms cosy while slashing carbon emissions. Spanning more than 712 square metres, the installation is made up of 950 solar collectors tucked away on the library’s roof. It is expected to reduce the London building’s CO2 emissions by 55 tonnes a year. Simultaneously, it will generate 216 MWh of energy annually - enough to power and heat a community centre or swimming pool for a year.

  Vertical solar panels are proving to be a new solution for northern regions, yielding 20 per cent more energy than traditional panels. Norway’s national football stadium carries a lesser-known star attraction: 1,242 solar panels stretching across the roof. These are not traditional flat roof panels. The mini, square-shaped solar panels have two key features that distinguish them from those typically seen on buildings: they are bifacial, meaning they have two active sides, and they are installed vertically. In June 2024, Ullevaal Stadium in Oslo became home to the world’s largest vertical solar panel installation on a roof, placing the stadium at the forefront of renewable energy innovation. At first glance, the panels look fragile, and one might worry about stepping on them. But during a visit to the stadium, we quickly learn that they are incredibly efficient in generating solar power.  Ullevaal Stadium has an ambitious goal of generating at least 250,000 kilowatt-hour...

Chinese online marketplace Temu will have until 21 October to answer European Commission questions on illegal products under the Digital Services Act (DSA). Chinese online marketplace Temu was asked on Friday to provide more information on the measures it has taken against traders selling illegal products on its platform under the EU’s online platform rules, the European Commission announced today. The company will also need to give additional data and information on the measures it has adopted to mitigate the risk of the spread of illegal products, as well as risks related to consumer protection, public health and users’ wellbeing, the statement said. Temu, which was founded by PDD Holdings in 2022, will also have to provide information on recommender systems and the risk to the protection of users’ personal data.  In May, the Commission designated Temu as a Very Large Online Platform under the Digital Services Act (DSA), as it exceeds the threshold of 45 million monthly average u...

  Vegan diets can contain more UPFs on average – but this might not be a problem.   For most people living in industrialised societies, it's difficult to avoid ultra-processed foods altogether. My cereal is ultra-processed. So is the whiskey in my cabinet, the hot sauce in my fridge and the crisps in my backpack.   The term "ultra-processed" is poorly understood and inconsistently used, even sometimes by scientists. While in some circles it has become a catch-all term for foods with little nutritional benefit, a wide variety of foods fall under this umbrella.   Ultra-processed foods are popular with consumers for their convenience (frozen pizza), taste (wrapped cookies), and durability (sandwich bread). These elements, plus the relatively low cost of ingredients, make them profitable for manufacturers.   But recently another motivation for ultra-processed foods has emerged: to replace meat or dairy among those attempting to eat a more plant-based diet. With this...

  A day after the   death   of India's most globally-recognised tycoon Ratan Tata, his half-brother Noel Tata has been named as the new chairperson of Tata Trusts, the group has announced. Tata Trusts is the company’s philanthropic arm which holds a majority stake of 66% in Tata Sons - one of India's largest business groups, with annual revenues in excess of $100bn (£76.5bn). Noel Tata, 67, is the son of Naval Tata, who was also Ratan’s father, and Simone Tata. He is on the boards of many Tata companies, including Tata Trusts, and will now step up to lead its charities. He is the chairman of Tata International Limited, Voltas and Tata Investment Corporation and the vice-chairman at Tata Steel and Titan Company Limited. He also heads Tata’s massive apparel retail company, Trent Limited, which has seen tremendous growth since he took its leadership in 2014. The company operates hugely successful fashion and lifestyle retail formats such as Westside, Zudio and Utsa. From 201...

Elon Musk wants his new rocket to revolutionise spaceflight. And that rocket, Starship, is now the largest and most powerful spacecraft ever built. It’s also designed to be fully and rapidly reusable. His private company SpaceX, which is behind the creation, is hoping to develop a spaceship that can be used more like a plane than a traditional rocket system, being able to land, refuel and take off again a few hours after landing. When will Starship's next launch be? While there's no exact date set yet for the rocket’s next flight, it could be as soon as this weekend - and SpaceX is expecting big things. This will be Starship's fifth outing, and all eyes will be on the landing phases – specifically, the return of the vehicle’s bottom part, the Super Heavy booster. So far we’ve only seen what might be called a simulated landing at sea, or 'splashdown'. This will be the first time we hope to see the booster return to the launch pad. For a spacecraft to be reusable, it ...

Tesla boss Elon Musk has unveiled the firm's long-awaited robotaxi, the Cybercab, at the Warner Bros Studios in Burbank, California. The futuristic-looking vehicle featuring two wing-like doors and no pedals or steering wheel deposited Mr Musk in front of an audience eager to hear details about a project he considers key to Tesla's next chapter. At the event, billed "We, Robot," the multi-billionaire reiterated his view that fully self-driving vehicles will be safer than those operated by humans and could even earn owners money by being rented out for rides. But Mr Musk's prediction that production would begin some time "before 2027" raised questions about whether he will once again fail to meet his own deadlines. "I tend to be optimistic with time frames," he quipped during the event. He said the Cybercab - which would compete with rivals including Alphabet-owned Waymo - would cost less than $30,000 (£23,000). However analysts have cast doubt ...

Big taxes will be imposed on imports of electric vehicles from China to the EU after the majority of member states backed the plans. The move to introduce tariffs aims to protect the European car industry from being undermined by what EU politicians believe are unfair Chinese-state subsidies on its own cars. Tariffs on electric cars made in China are set to rise from 10% to up to 45% for the next five years, but there have been concerns such a move could raise electric vehicle (EV) prices for buyers. The decision, which split EU member states such as France and Germany, risks sparking a trade war between Brussels and Beijing, which has condemned the tariffs as protectionist. China has been counting on high-tech products to help revive its flagging economy and the EU is the largest overseas market for the country's electric car industry. Its domestic car industry has grown rapidly over the past two decades and its brands, such as BYD, have begun moving into international markets, pr...