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On August 5th, the Dow Jones Industrial Average and S&P 500 both extended their gains to 2%, while the Nasdaq Composite rose 2.7%. The Philadelphia Semiconductor Index rose by 7%, with Arm (ARM.O) up 17.4%, Intel (INTC.O) up 10.9%, AMD (AMD.O) up 9.3%, Broadcom (AVGO.O) and Qualcomm (QCOM.O) both up over 7%, and Nvidia (NVDA.O) up 2.5%.Fitch Ratings: New U.S. student visa rules will put pressure on some universities.American Petroleum Institute (API) CEO: Approximately 7 million barrels of oil are transported through the Strait of Hormuz every day.The Federal Reserve accepted a total of $2.551 billion from three counterparties in its fixed-rate reverse repurchase operations.August 5th - According to foreign media reports, a source familiar with the companys performance revealed that Chanel achieved double-digit sales growth in the first half of the year, surpassing luxury competitors including LVMH. Chanels comparable revenue grew by approximately 16% in the first half, with its fashion division, the companys largest business, also achieving a similar level of growth. Chanel releases its annual results; data from May showed that sales are projected to grow by 1.8% to reach $19.3 billion by 2025. The source stated that Chanel achieved revenue growth in all regions in the first half of the year, with the US market leading the way with sales growth exceeding 25%. This trend continued into July; however, due to a higher base of comparison, full-year performance may be lower than the first half.

Desalination Plant in California Suffers Setback With Recommendation For Denial

Haiden Holmes

Apr 26, 2022 10:07

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The commission, which has the authority to reverse staff decisions but does so infrequently, is due to vote on the project on May 12.


Desalination, environmentalists argue, annihilates ocean life, consumes excessive amounts of money and energy, and will soon be rendered obsolete by water recycling.


Poseidon Water, the infrastructure subsidiary of Canada's Brookfield Asset Management, is proposing the desalination facility near Huntington Beach, just south of Los Angeles.


Poseidon has been attempting to secure approval for the project for more than two decades, spending an estimated $100 million in the process.


With the Western states of the United States suffering from a prolonged drought, officials appeared to be on the verge of approving the Huntington Beach facility. Last year, the business expressed sufficient confidence to discuss breaking ground on the $1.4 billion factory by the end of 2022.


Poseidon has operated a comparable facility in Carlsbad since 2015, although it was permitted locally prior to the state enacting regulations governing desalination plants.