plans | Common News Update

Jul112017 by adminNo Comments

Electric car maker scraps plans for $1 billion Nevada plant

Technology

An electric car maker deserted its plan to construct a $ 1 billion manufacturing plant in southern Nevada in a move experts say could spell trouble for the company and the broader niche electric automobile businesses. Faraday Future Chief Financial Officer Stefan Krause said Monday's decision to scrap the plant was due to a shift in business strategy. The Gardena, California-based company said in a statement that it will now look for an existing facility to produce its electric vehicles in California or Nevada. Faraday Future halted work on the project outside Las Vegas last November, at the time calling the stoppage a "temporary adjustment" that wouldn't affect plans to begin production in 2018. It sunk more than $ 120 million into the project. "It can be somewhat hard to believe that a ...

Jul92017 by adminNo Comments

'Cheaper' Heathrow airport third runway plans proposed

Business

A wealthy businessman has submitted plans for a third runway at Heathrow which he says would be £5bn cheaper than the airport's current scheme.Hotel tycoon Surinder Arora has put his proposal to the government's public consultation on Heathrow.Ministers have expressed a preference for the airport's plans for a new runway and terminal costing £17.5bn.Heathrow said it was already considering some of the ideas, and wanted to lower the cost too.Arora Group's proposals include changing the design of terminal buildings and taxiways, and reducing the amount of land it is built on.Mr Arora said: "We want passengers to be at the heart of our plans and the current monopoly at Heathrow, which over-charges airlines and in turn raises fares for passengers, is not the right model for the future."Heathro...

Jun302017 by adminNo Comments

Japan plans to put man on the Moon by 2030

Technology

Japan has announced plans to send an astronaut to the Moon by 2030, as part of a new strategy for space travel in the country.If successful, the mission would be the first time the Japanese Aerospace Exploration Agency (JAXA) has sent a human being further than the International Space Station (ISS).While the station orbits approximately 200 miles (320 km) from Earth, the Moon is around 238,855 miles (384,000 km) away from our planet.In anticipation of the goal, Japan hopes to join a 2025 NASA-led mission to build a new space station in the Moon's orbit.A contribution of cutting-edge technology will give Japan an edge over other countries, hopefully guaranteeing a sought-after spot at the space station, the agency says.In October 2016 a crew of astronauts from Japan, the USA and Kazakhstan ...

Jun302017 by adminNo Comments

Mark Cuban, who just called bitcoin a bubble, says he plans to invest in another digital coin

Finance

Bitcoin skeptic Mark Cuban is looking to take part in one of the hottest trends in the digital currency world right now: the initial coin offering. One of the companies Cuban is invested in, Unikrn, is planning its own offering, and digital currency news site CoinDesk said Thursday that the billionaire entrepreneur intends to participate.Cuban confirmed the report in an email to CNBC. "I want to learn more about them," he said.I "haven't signed the paperwork yet. But it's likely it will happen," he added. An initial coin offering is a fundraising process for blockchain-based projects that allows investors to own part of a project through a digital network token. Start-ups in the blockchain world often find this method of fundraising more attractive than venture capital funding for the spee...