FT News Briefing Biden’s stimulus push, Texas blackouts, warehouse automation
Feb 16, 2021
President Biden is ramping up his push for a major COVID relief plan while Texas grapples with power outages due to extreme cold. The surge in online shopping has fueled warehouse automation, creating a complex landscape for human workers. Meanwhile, Russian discount retailer Fix Price aims for a $1 billion IPO in London, riding the wave of economic challenges in its home market. The discussion brings together politics, technology, and international business in an engaging and thought-provoking way.
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Texas Power Grid Crisis
- Texas's power grid, which lacks reserve capacity incentives, faces a severe test.
- Wholesale electricity prices surged to $9,000 per megawatt-hour amidst freezing temperatures, compared to the average $25.
Warehouse Work Evolution
- Warehouse workers previously walked 8-15 miles daily, often suffering blisters.
- Robots now bring shelves to workers or guide them, increasing speed but also physical strain.
Future of Warehouse Automation
- Automating the picking of diverse objects remains challenging due to the dexterity of human hands.
- However, complete warehouse automation is anticipated within the next decade, according to industry experts.