Shoppers around the world are quickly adding more used shoes, accessories and clothes to their closets. Last year, they spent $227 billion on secondhand apparel, accounting for nearly 10% of all global spending on clothes, according to a new report from online resale marketplace ThredUp Inc. The trend is set to accelerate, particularly in the US...
Shares of US solar companies fell sharply after Senate Republicans released a bill that would end clean energy tax credits earlier than expected, dashing hopes that major cuts passed by the House wouldn’t stick. Sunrun Inc., the largest US rooftop panel installer, plunged as much as 38%. SolarEdge Technologies Inc. fell 31%. Enphase Energy Incslid 21%. The new...
NuScale Power Corp., the only company with US approval for a small nuclear reactor, has now won regulatory support for a second design that may go into service by the end of the decade. The US Nuclear Regulatory Commission formally authorized the company’s 77-megawatt reactor design, according to a statementThursday. NuScale won similar approval in 2020 for a...
The European Union is set to offer greater flexibility in July over achieving its emissions-reduction target for the next decade, as the bloc seeks to bolster flagging support for its ambitious climate plans. The European Commission, the EU’s executive arm, told member states it’s considering publishing a measure to set an interim climate goal for...
Taiwan started to shut its final nuclear reactor on Saturday as a 40-year operating license expired, in a move that could threaten the island’s energy security and climate goals. The load-shedding of the final reactor began from 1 p.m. local time and the system will be disconnected at about 10 p.m. before it’s safely shut...
Spain and Portugal were returning to some semblance of normality early Tuesday, with many questions remaining about what caused one of Europe’s worst blackouts in years across the Iberian peninsula the previous day. Spanish power supplies were back to nearly 100% capacity at around 7 a.m. in Madrid, and urban trains were slowly returning to...
China’s State Council approved 10 new reactors on Sunday in a vote of confidence for nuclear power to remain central to the nation’s clean energy transition. It’s the fourth year in a row that China has approved at least 10 new reactors. The nation has 30 under construction, nearly half the global total, and is...
California will see almost one-fifth of its crude-processing capacity vanish in the next 12 months as two key refineries quit the business of turning oil into fuels. Valero Energy Corp. and Phillips 66 plan to idle a combined 284,000 barrels of daily refining capacity by this time next year, moves that will squeeze the perennially tight motor-fuels...
Chinese plastics plants that buy liquefied petroleum gas are turning to the Middle East to replace tariff-hit imports from the US, disrupting global flows and reviving moribund freight rates. The LPG buyers, seeking to swap US cargoes bought earlier with alternatives, have found that Persian Gulf producers including Saudi Aramco are able to help with those requests,...
Pakistan will offer to buy more cotton and soybean from the US, according to people with knowledge of the matter, as it looks to halve its bilateral trade surplus and escape tariffs imposed by President Donald Trump. The South Asian country wants to reduce this surplus to below $2 billion from about $4 billion in...
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