FT News Briefing Anglo-French merger would challenge Elon Musk’s SpaceX
Jul 26, 2022
This week, major U.S. tech firms brace for earnings reports amid a slowing economy. Meanwhile, Germany faces recession fears as business confidence hits a two-year low, exacerbated by dwindling Russian gas supplies. In the satellite sector, discussions of a merger between Eutelsat and OneWeb raise eyebrows, despite tumbling shares. Cities grapple with extreme heat, affecting productivity and pushing for solutions like more green spaces. Concerns mount over potential $100 billion losses in worker efficiency due to rising temperatures.
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Tech Sector Slowdown
- The U.S. tech sector faces a slowdown due to various economic factors.
- These include the strong dollar, supply chain issues, and a shift in consumer preferences.
Satellite Merger Challenges SpaceX
- Eutelsat and OneWeb's merger aims to challenge SpaceX by combining resources and technologies.
- Investors reacted negatively, but the UK government sees it as a positive outcome.
Urban Heat Island Effect
- Cities experience higher temperatures than rural areas due to the urban heat island effect.
- This effect is caused by heat retention from materials like concrete and tarmac.