Techlife News #553

Automaker Stellantis has reached a deal to have Controlled Thermal Resources Ltd. supply battery-grade lithium hydroxide for its electric vehicles in North America. CTR will supply Stellantis, the company that combined PSA Peugeot and Fiat Chrysler, with up to 25,000 metric tons per year of lithium hydroxide over the 10-year term of the agreement. CTR will produce battery grade lithium hydroxide and lithium carbonate along with geothermal energy in California with a resource production capacity in excess of 300,000 metric tons per year. “Ensuring we have a robust, competitive, and low-carbon lithium supply from various partners around the world will enable us to meet our aggressive electric vehicle production plans in a responsible manner,” Stellantis CEO Carlos Tavares said in a statement on Thursday. Last month the Biden administration announced $3.1 billion in funding…

The OPEC oil cartel and allied producing countries including Russia will raise production by 648,000 barrels per day in July and August, offering modest relief for a global economy suffering from soaring energy prices and the resulting inflation. The decision Thursday steps up the pace by the alliance, known as OPEC+, in restoring cuts made during the worst of the pandemic recession. The group had been adding a steady 432,000 barrels per day each month to gradually restore production cuts from 2020. The move to increase production faster than planned comes as rising crude prices have pushed gasoline to a record high in the U.S. , a potential problem for U.S. President Joe Biden in mid-term Congressional elections this fall. There are fears that elevated energy prices could slow the global economy…

A former product manager at an online marketplace was arrested Wednesday in what federal authorities called the first ever digital asset insider trading scheme involving NFTs. Nathaniel Chastain, a former employee of a company that does business as OpenSea, was arrested in Manhattan. He was later released on $100,000 bail after entering a not guilty plea to wire fraud and money laundering charges. Chastain, 31, and his lawyers declined comment immediately after the Manhattan federal court hearing. U.S. Attorney Damian Williams said the charges were a first because they pertained to NFTs, or non-fungible tokens, that provide digital ownership of art and other content. Michael J. Driscoll, head of New York’s FBI office, said Chastain used his knowledge of confidential information to buy dozens of NFTs in advance of them being featured on OpenSea’s…

The white-hot demand for U.S. workers cooled a bit in April, though the number of unfilled jobs remains high and companies are still desperate to hire more people. Employers advertised 11.4 million jobs at the end of April, the Labor Department said, down from nearly 11.9 million in March, the highest level on records that date back more than 20 years. At that level, there are nearly two job openings for every unemployed person. That’s a sharp reversal from the historic pattern: Before the pandemic, there were always more unemployed people than available jobs. The number of people quitting their jobs remained near record highs at 4.4 million in April, mostly unchanged from the previous month. Nearly all of those who quit do so to take another job, typically for higher pay. The…

China’s government on Thursday accused Washington of jeopardizing peace after U.S. envoys began trade talks with Taiwan aimed at deepening relations with the self-ruled island democracy claimed by Beijing. Talks that started Wednesday cover trade, regulation and other areas based on “shared values” as market-oriented economies, according to the Office of the U.S. Trade Representative. It did not mention China but the talks add to gestures that show U.S. support for Taiwan amid menacing behavior by Beijing, which threatens to invade. Trade dialogues “disrupt peace and stability in the Taiwan Strait,” said a foreign ministry spokesman, Zhao Lijian. He called on Washington to “stop negotiating agreements with Taiwan that have sovereign connotations and official nature.” Taiwan and China split in 1949 after a civil war that ended with the ruling Communist Party’s victory…

A groundbreaking ceremony was held Wednesday for a museum that will permanently exhibit the retired NASA space shuttle Endeavour in Los Angeles. Endeavour will be displayed vertically as if ready for launch, complete with a massive external tank and solid rocket boosters on each side. U.S. Sen. Alex Padilla, Los Angeles Mayor Eric Garcetti and other local leaders attended the ceremony at the California Science Center in Exposition Park. The event coincided with the 11th anniversary of Endeavour’s final return from space. The shuttle will be housed in the Samuel Oschin Air and Space Center, a 200,000-square-foot (18,580-square-meter) addition that will rise 20 stories high and contain 150 educational exhibits in multi-level galleries. About halfway through construction, Endeavour will be positioned in the new museum and the building will be completed around the full shuttle…