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June 6th - In Jinan, AI models are now being mass-produced on assembly lines, much like automobiles. The first step in producing AI models begins in the data workshop, essentially the raw material warehouse for the entire large model factory. Massive amounts of raw data are cleaned, filtered, and labeled here, transforming them into qualified raw materials for model production. The second step is model forging. In the model workshop, the employees on the production line are the "large models" themselves, and various large models become "digital craftsmen," training the models according to order requirements. The trained AI models then enter the third step: rigorous final testing. What leaves the model workshop is only a semi-finished product. In the factorys evaluation center, new models are constantly given "tests." If they fail the test, they are sent back for rework. Only by passing the rigorous "final test" can the model enter the market. Passing the test leads to the fourth step—integration training. In the integration workshop, the models are "integrated" into robotic arms and robots. Through repeated motion collection and training, the AI or intelligent agent can master physical skills before it can empower various industries. The seemingly simple four-step process actually includes 75 meticulous procedures, reducing the AI model development cycle from 90 person-days to 20 person-days.On June 6, Mohsen Rezaei, military advisor to Irans Supreme Leader, warned in an interview with CNN on June 5 that if the fighting continues and the US does not lift its naval blockade of Iran, the conflict could spread to a wider area, including the Indian Ocean, and Iran would also strike more US military bases, at which point the US would suffer "very heavy" losses.Jamaican Energy Minister Daryl Wass said on social media on the 5th that Jamaica experienced a nationwide blackout that day, with several administrative districts losing power. The cause of the failure is still under investigation, and the national power company has begun emergency repairs.On June 6, Russian Presidential Aide Ushakov stated on June 5 that the United States has relegated the Ukraine issue to a secondary position, to some extent withdrawing from this issue that is "crucial to Russia but irrelevant to the United States." Speaking at the 29th St. Petersburg International Economic Forum, Ushakov said that the United States is currently prioritizing the Iran issue, and the Ukraine issue has been "placed in a secondary position." However, compared to the Biden administration, the Trump administrations policies have undergone "minor adjustments."June 6 – The Democratic Republic of Congo (DRC) Ministry of Health released a report on June 5 stating that as of June 4, the total number of confirmed Ebola cases in the DRC had risen to 452, with 82 deaths. The report noted that 71 new cases were reported on June 4 in Ituri and North Kivu provinces, indicating rapid and sustained community transmission in this outbreak. The report showed that 258 patients are currently in isolation or hospitalized, with 8 recoveries. The report stated that the current response to the outbreak faces multiple challenges, including some members of the public not cooperating with the sampling of remains of their relatives, insufficient standardized treatment capacity at Ebola treatment centers, low contact tracing rates, and shortages of basic medicines and protective equipment. Furthermore, there remains a funding gap for the response efforts.

Phillips 66 Trademarks Mark Lashier will Succeed Greg Garland as CEO

Haiden Holmes

Apr 13, 2022 09:44

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Lashier, a chemical engineer who joined the firm three decades ago in the chemicals division, was named president and chief operating officer a year ago after leading Chevron Phillips Chemical Co, the company's joint venture with Chevron Corp (NYSE:CVX), since 2017.


Garland has considered refining as a mature company and has concentrated its efforts on expanding its energy infrastructure, chemicals, and establishing a presence in electric vehicle battery components. It spent around $150 million last year for a 16.5% share in Novonix Ltd, an Australian provider of lithium-ion battery materials.


Garland "built a market-leading diversified energy manufacturing and logistics organization while investing for the future and producing solid financial returns," according to Glen Tilton, lead independent director of Philips 66.


Although the Houston company's non-refining initiatives have generated great shareholder returns, its shares have lately underperformed bigger competitors that benefitted from increasing gasoline margins during pandemic lockdowns.


Lashier is expected to pursue Garland's diversification approach, which includes biofuels, hydrogen, and battery components. However, he must demonstrate that he can match competitors Marathon Petroleum Corp (NYSE:MPC) and Valero Energy (NYSE:VLO), which increased shareholder returns by selling off retail operations and diversifying into renewable diesel, analysts said.


Phillips 66 (NYSE:PSX) traded at $81.97 on Tuesday, up 13% year to date, compared to 34% year-to-year gains at Marathon and Valero and around 96% year-to-date gains at PBF Energy (NYSE:PBF).


"Lashier's task is to increase the company's value," Matthew Blair, an analyst at Tudor Pickering Holt & Co., said. "He will face inquiries regarding the company's non-refining businesses' value and what he can do to boost stock price performance and capitalize on the potential valuation."