According to The Jiji News, Kansai Electric Power Co. said Monday it will enter the business of developing and operating large-scale data centers.
The Japanese power supplier plans to establish a fifty-fifty joint venture with major U.S. data center operator CyrusOne later this month. The joint venture, CyrusOne KEP Inc., will have capital of 586 million yen and will be located at Kansai Electric's headquarters.
According to The Jiji News, monthly wage hikes major Japanese companies have so far agreed in this year's "shunto" spring wage talks with labor unions reached the highest level in at least 30 years, the Japan Business Federation.
The hikes averaged 3.91 pct, or 13,110 yen, for unionized workers at 92 companies in 15 industrial sectors, according to the initial tally released by the business lobby, also known as Keidanren.
According to The Australian Financial Review, shipping green hydrogen as a liquid or as ammonia can lose almost half the hydrogen’s energy content by the time it reaches the customer, according to a study from ASX-listed would-be shipper Provaris Energy.
Provaris, which touts a compression-based shipping method, says the energy content of liquid hydrogen and ammonia is drastically reduced once production, shipping, storage and conversion back to gas are factored in.
The company’s report, issued recently, underscores the major technical challenges Australia faces as it strives to become a hydrogen-exporting superpower.
According to The Australian Financial Review, APA Group has determined that about half of its pipelines could be used to transport hydrogen after completing testing that confirmed it was technically feasible to convert a section of a West Australian line.
The potential conversion of the last 43 kilometre section of the Parmelia Gas Pipeline to carry up to 100 per cent hydrogen – a plan that dates from 2021 – would support tentative plans by APA and Wesfarmers to transport hydrogen to Wesfarmers’ chemicals and fertiliser plants in Kwinana.
According to The Australian Financial Review, NSW home builder Rawson, whose net loss nearly doubled to $28.9 million last year, is counting on the backing of parent company Daiwa to ride out a downturn that it says will take another six months for market confidence to return.
The state’s 10th-largest volume builder in the Housing Industry Association rankings – with 546 home starts in FY22, down from 770 a year earlier – also received a further $30 million injection from Daiwa House Australia last calendar year, on top of $40 million a year earlier.
According to The Jiji News, Nippon Telegraph and Telephone Corp. plans to acquire Green Power Investment Corp., a Tokyo-based company running renewable energy power plants, in cooperation with Jera Co.
Through the acquisition, NTT aims to enhance its procurement of power generated from renewable energy sources and make progress toward its decarbonization goal.
According to The Jiji News, Honda Motor Co., Yamaha Motor Co. and two other Japanese motorcycle makers have announced that they will launch joint research for the development of hydrogen-powered engines for small mobility.
The four companies, also including Kawasaki Motors Ltd. and Suzuki Motor Corp., said they will set up a technological research association in June. Through the move, the four firms aim to develop eco-friendly, next-generation motorcycles that can help enhance their international competitiveness.
According to The Australian Financial Review, the $3.5 billion bulk-billing plan to improve GP access with no out-of-pocket costs for 11.6 million people was a centrepiece announcement of Treasurer’s second budget recently.
Under the scheme, doctors will be paid three times as much to bulk-bill families with young children, pensioners and concession cardholders. A lack of bulk-billed appointments has put primary healthcare out of reach for this priority group, especially in poorer communities, according to research from the Grattan Institute.
Listed companies Sonic Healthcare, Healius, Australian Clinical Labs, Integral Diagnostics and Capitol Health were likely to profit from the plan, Mr Wong-Pan told clients in a report.
According to The Australian Financial Review, Andrew Forrest says there’s a graveyard somewhere full of failed magnetite projects, but his will be different.
Fortescue Metals Group’s Iron Bridge magnetite mine reached a first production milestone last week after surviving its own near-death experience in early 2021. The Fortescue founder and chairman breathed a great sigh of relief on May 1 when Iron Bridge started churning out magnetite with an iron content greater than 68 per cent.
The breakthrough for Fortescue comes at a time when high-grade product from the iron ore industry is seen as the quickest path to greener iron and therefore greener steel. And in a green iron world, magnetite projects make more sense than they did in the past.
According to The Australian Financial Review, major ASX-listed property players involved in residential development, including Lendlease, Mirvac and Stockland, can expect a boost from federal budget measures to support investment into build-to-rent projects and increase rental relief for many residents in land lease-style housing estates.
The expansion of the federal government’s home guarantee scheme for first home buyers – to allow any two people such as siblings or friends to purchase with a 5 per cent deposit – is also positive news for major developers such as Stockland and Mirvac.
The withholding tax applied to managed investment trusts used by foreign investors will be halved from 30 per cent to 15 per cent. The depreciation rate applied to build-to-rent projects will also be increased to 4 per cent a year.
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