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<ul><li>With economic actvities resuming gradually across the country, the power consumption data may come as a breather for stocks in the power sector. </li><li>The power consumption in July 2020 was just 2.6% short of the demand exactly a year earlier.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/" data-type="tilCustomLink" target="_blank">Business Insider</a>.</li></ul>The slump in power consumption has narrowed to just 2.64% in July at 113.48 billion units (BU) indicating spurt in economic activity and raised hopes that it would touch normal level this month. Power consumption in July last year was at 116.48 BU, as per power ministry data. The latest data of the power ministry shows that power consumption has improved after government started giving relaxations for economic activities and onset of summer. "The slump in power consumption has narrowed down considerably to 2.6 per cent. It is expected to be at normal level (what it was last year in same month) during August. There could be growth in power demand in coming days with expansion in economic activities," an industry expert told PTI. This data may come as a breather for stocks in the power sector that have been reeling under the pessimism about their prospects in the near term. <table style="width: 226pt;"> </colgroup> <tbody><tr> <td class="xl63" style="height:15.0pt;width:141pt">Stock</td> <td class="xl63" style="border-left-width: initial; border-left-style: none; width: 85pt;">Last one month</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">NTPC</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-9.19%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Reliance Power</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-22.53%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Adani Power</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-1.67%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tata Power</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">8.58%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">JSW Energy </td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-2.65%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">CESC</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-11.65%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Torrent Power </td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.10%</td> </tr></tbody></table> The months of April, May and June this year witnessed low power consumption on account of lower commercial and industrial activities due to COVID-19-related restrictions. However, as the economy slowly reopened, peak power demand met, the highest energy supply during the day across the country, was at 170.54 GW in July, down 2.61% compared to a year ago. <table style="width: 247pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:48pt">Month</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 128pt;">Peak power demand met</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 71pt;">Growth (YoY)</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">April</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">132.77 GW</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-25%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">May </td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">166.42 GW</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-8.82%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">June </td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">164.94 GW</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-9.50%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">July</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">170.54 GW </td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-2.61%</td> </tr></tbody></table> The return of industrial demand will bode well for power distribution companies like Tata Power, Adani Power and Reliance Power, as well as the ones owned by state governments, because they make wider margin on supply to industries than to households. This will ease the stress on the financials and the need for additional loans from companies like Power Finance Corporation and Rural Electrification Corporation of India. <table style="width: 226pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:141pt">Stock</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 85pt;">Last one month</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">Power Finance Corp</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-3.75%</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">Rural Electrification Corp</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-7.35%</td> </tr></tbody></table> An earlier estimate by ratings agency <a href="https://www.livemint.com/news/india/power-demand-to-shrink-3-4-this-fiscal-as-states-return-to-lockdown-icra-11595261269964.html" data-type="tilCustomLink" target="_blank">ICRA had projected a 5% to 6% decline</a> in nationwide demand for power for the full year ending March 2021. With inputs from PTI SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/e-invoice-under-gst-these-businesses-need-not-prepare-electronic-invoices-up-to-a-revenue-of-500-crore-any-more/articleshow/77299435.cms">E-invoice under GST: These businesses need not prepare electronic invoices up to a revenue of ₹500 crore any more</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/e-invoice-under-gst-these-businesses-need-not-prepare-electronic-invoices-up-to-a-revenue-of-500-crore-any-more/articleshow/77299435.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/marutis-july-sales-data-sparks-hope-for-other-carmakers/articleshow/77298443.cms">Maruti's July sales data sparks hope for other carmakers</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/marutis-july-sales-data-sparks-hope-for-other-carmakers/articleshow/77298443.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/here-are-all-the-startups-that-raised-funding-in-july/articleshow/77297781.cms">Here are all the startups that raised funding in July</a>

Watch out for stocks like Adani Power, Tata Power, PFC and REC as electricity consumption nears pre-COVID levels

Hello, and welcome to Power Line, a weekly clean-energy newsletter from Business Insider. Here's what you need to know:<ul><li><a href="http://newsletter.businessinsider.com/join/4np/power-line">Sign up here</a> to get Power Line in your inbox every Friday.</li><li>Most of our coverage is available exclusively to BI Prime subscribers. If you're looking for a discount on a subscription to BI Prime, <a href="https://www.businessinsider.com/subscription/prime-discount?r=birefer-bjoneshttps://www.businessinsider.com/subscription/prime-discount?r=birefer-bjones">click here</a>. </li><li>Nominations for the Rising Stars of Clean Energy close today. <a href="https://forms.gle/7n9hyg1HV6cr47wJ8">You can submit them here</a>. </li><li>Have a tip to or feedback to share? Send us an email at <a href="mailto:energy@businessinsider.com">energy@businessinsider.com</a>. </li></ul>My mom is visiting me in NYC this weekend. Because why wouldn't you want to travel to the nation's most populous city amidst a virus outbreak when you live in rural Iowa. (I'll be delighted to see her.)Our healthcare team has been busy covering the novel coronavirus. <a href="http://newsletter.businessinsider.com/join/health-insider">Sign up for the newsletter Dispensed </a>to follow their coverage. <h2><a href="https://www.businessinsider.com/blackouts-and-superstorms-are-new-fuel-for-rooftop-solar-companies-2020-3">The apocalypse is a better time than ever to go solar</a></h2>Notch that back a bit, and that's basically how rooftop solar companies are now pitching themselves - <a href="https://www.businessinsider.com/blackouts-and-superstorms-are-new-fuel-for-rooftop-solar-companies-2020-3">as a way to keep the power on if the grid goes down</a>. <ul><li>Top companies like Sunrun and Sunnova upsell customers big batteries as add-ons to solar arrays with language like "protect your family from power outages."</li><li>Following California's PG&amp;E shutoffs last fall, Sunrun published a report that <a href="https://www.businessinsider.com/sunrun-strategy-rooftop-solar-batteries-to-aid-grid-avoid-blackouts-2020-2">showed how its customers who lost grid power were able to keep the lights on for up to five or six days straight</a>. </li></ul>That new marketing approach seems to be working. <ul><li>In recent earnings calls, <a href="https://www.businessinsider.com/blackouts-and-superstorms-are-new-fuel-for-rooftop-solar-companies-2020-3">rooftop solar companies say battery add-ons are becoming big business</a>. </li><li>Solar installations that included batteries doubled between 2017 and 2019, according to <a href="https://www.businessinsider.com/blackouts-and-superstorms-are-new-fuel-for-rooftop-solar-companies-2020-3">a new report by the solar marketplace EnergySage</a>.</li></ul>The takeaway: Buying solar for your home was once about sourcing green energy or cutting costs, but <a href="https://www.businessinsider.com/blackouts-and-superstorms-are-new-fuel-for-rooftop-solar-companies-2020-3">now it's largely about energy security</a>. (Meanwhile, here I am sizzling in a century-old NYC building, with no control over the oil-based radiator that seems hellbent on steaming me out with deafening bangs. Solar sounds pretty good.)<h2><a href="https://www.businessinsider.com/inside-the-6-billion-market-for-renewable-energy-certificates-2020-3">A look inside an opaque $6 billion industry that challenges the very idea of renewable energy </a></h2>It's tough to write a scintillating headline when the topic of the story is something called "renewable energy certificates," or RECs. But I assure you: <a href="https://www.businessinsider.com/inside-the-6-billion-market-for-renewable-energy-certificates-2020-3">it's one worth getting to know</a>. So as my editor likes to joke, let's get REC'd.Q&amp;A: What the heck is a REC? It's a receipt that proves 1 megawatt-hour of renewable energy was created somewhere. (1 MWh is a little more than what the avg. American household uses every month.)Why do they exist? Once electrons enter the grid, they are indistinguishable from one another - no matter what kind of power plant produced them. RECs are the only way to track the generation of clean energy.What's the business angle? Here's where things get wild. Wild, I tell you! <ul><li>RECs are <a href="https://www.businessinsider.com/inside-the-6-billion-market-for-renewable-energy-certificates-2020-3">an entirely separate commodity from the energy associated with them</a>, and they are often sold separately. </li><li>The price of a REC varies from pennies to more than $400. </li><li>If you source clean energy but don't have the RECs associated with it then that energy isn't technically considered renewable.</li></ul>Who's buying and selling them? You can find that and much more bizarre REC industry insights <a href="https://www.businessinsider.com/inside-the-6-billion-market-for-renewable-energy-certificates-2020-3">in my story</a>. <h2><a href="https://www.businessinsider.com/shell-is-betting-big-on-these-3-types-of-early-stage-startups-2020-3">We talked to the woman at Shell in charge of hunting down breakthrough energy startups </a></h2>How does an oil giant stay relevant as the world tries to cut ties with fossil fuels? It partners with startups. Loads of them. <a href="https://www.businessinsider.com/shell-is-betting-big-on-these-3-types-of-early-stage-startups-2020-3">We caught up with Shell's Lene Hviid</a>, who runs the energy giant's in-house incubator program called GameChanger. <ul><li>The program has worked with 1,500 inventors since 2017, and many of them are developing clean-energy technologies, she said. </li><li>"If you look at the energy transition and you are a supertanker that has to change, you need help from a lot of companies around you to make it happen," she told me. </li></ul>Where is Shell placing its bets? <ul><li><a href="https://www.businessinsider.com/shell-is-betting-big-on-these-3-types-of-early-stage-startups-2020-3">On technologies that are obviously relevant for a company rooted in oil and gas</a>, such as carbon capture and utilization and hydrogen gas. <ul><li>FYI 1: While carbon capture technologies are gaining a ton of attention, <a href="https://www.businessinsider.com/carbon-capture-explainer-technology-limitations">experts and analysts I've talked to say they're way overhyped</a>. </li><li>FYI 2: Shell has announced plans to build the world's largest "green hydrogen" plant. <a href="https://www.businessinsider.com/what-is-hydrogen-fuel-industry-explainer-2020-1">Here's a primer on the green hydrogen industry</a>. </li></ul></li><li>On a wide range of other technologies that Hviid says will undoubtedly be a part of the future energy economy, such as long-duration energy storage and something called distributed energy resource (DER) management.<ul><li>FY1 3: DER management is one of the fastest-growing clean-energy industries. <a href="https://www.businessinsider.com/3-little-known-industries-shaping-the-future-global-energy-economy-2020-1">You can learn about it here</a>.</li></ul></li></ul><h2>Finally, here are this week's top updates </h2><ul><li>The US Senate will soon consider a hefty package of energy legislation, which is "Congress' best bet to make a dent in federal clean energy policy under the Trump administration," <a href="https://www.utilitydive.com/news/renewables-ev-tax-credits-wont-be-included-in-senate-energy-bill-unless/573529/">Utility Dive reports.</a></li><li>Tesla and the utility PG&amp;E are developing what officials are calling the largest battery farm in the world in Northern California, <a href="https://www.nbcbayarea.com/news/local/tesla-pge-to-build-massive-clean-energy-facility-in-monterey-county/2243293/?utm_campaign=Clean%20Energy%20News&amp;utm_source=hs_email&amp;utm_medium=email&amp;utm_content=84286607&amp;_hsenc=p2ANqtz-9w_LfxYVGV1ffXfK8od0f7l8Mh-MxaYj1S7zccVNmEmEIxklbw3kjyTr77LZ98HHotPNzyu3yhHSLWCoqotUwXecid2fAqWKO3dzg3CPDi_KBeB8Q&amp;_hsmi=84286607">NBC reports</a>. </li><li>The Italian energy giant Eni has pledged to cut its emission by <a href="https://www.eni.com/en-IT/media/press-release/2020/02/long-term-strategic-plan-to-2050-and-action-plan-2020-2023.html">80%</a> by 2050. </li><li>General Electric, one of <a href="https://www.businessinsider.com/top-wind-energy-companies-us-market-ge-vestas-2020-2">the world's largest wind turbine manufacturers</a>, says its renewable energy unit is taking a hit from coronavirus, <a href="https://www.rechargenews.com/wind/ge-renewable-energy-sees-coronavirus-impacts-as-group-flags-300m-profit-hit/2-1-767260">per Recharge</a>. </li></ul>We're monitoring the virus's impact on the clean-energy industry. If you have tips, please pass them along to <a href="mailto:energy@businessinsider.com">energy@businessinsider.com</a>. That's it! Have a great weekend. - Benji Get the latest Oil WTI price<a href="http://markets.businessinsider.com/commodities/oil-price?type=WTI"> here.</a>

Power Line: Inside the $6 billion market where people buy the right to call energy clean, and rooftop solar's new pitch

New Delhi, Mar 15 () Following are the top business stories at 1850 hours: DEL7 BIZ-PETROL-PRICEPetrol price cut by 12 paise/litre, diesel by 14 paiseNew Delhi: Petrol price was on Sunday cut by 12 paise a litre and diesel rates by 14 paise as oil companies moderated rate reduction amid the fall in global prices to absorb the hike in excise duty on fuel by the government.DCM8 BIZ-YES BANKYes Bank says NPA troubles to continue in FY21; capital infusion makes CEO-designate confident of surviving stormMumbai: Yes Bank expects pressures from sour loans, which led it to declare the highest loss for any private sector lender at Rs 18,654 crore for the December quarter, to continue even in FY21, but CEO-designate Prashant Kumar is confident of its survival after a Rs 10,000-crore capital infusion. DEL29 BIZ-AUDITORSIndia's audit space cannot have 'one-size fits all' approach: Corp Affairs SecyNew Delhi: Asserting that "one-size fits all" approach cannot be put in place for the complex audit industry, Corporate Affairs Secretary Injeti Srinivas has said the potential of conflict of interest needs to be addressed and made it clear that whoever is practising audit in India will have to be regulated under the country's regulations.DCM1 BIZ-FPI-OUTFLOWCorona scare: FPIs press panic button, withdraw Rs 37,976 cr from Indian mktsNew Delhi: Foreign portfolio investors (FPIs) have withdrawn a whopping Rs 37,976 crore on a net basis from the Indian markets in March so far amid the coronavirus pandemic triggering fears of a global recession.BIZ-IDFC BANK-YES BANKIDFC First to invest Rs 250 cr in Yes BankNew Delhi: IDFC First Bank on Sunday said it will make an equity investment of Rs 250 crore in beleaguered Yes Bank to acquire 25 crore equity shares. DCM14 BIZ-RENEWABLENow RE developers' letter of comfort from PFC, REC, IREDA at par with bank guaranteeNew Delhi: To improve business environment for clean energy projects and attract investments, the government has decided to treat letter of comfort (undertaking) issued by state-run shadow banking firms PFC, REC and IREDA at par with bank guarantees. DCM13 BIZ-CALL-DATA-RECORDDoT units seeking bulk call data record in routine, telcos raise concernNew Delhi: Some units of the telecom department are seeking huge call data records of people in some circles on a routine basis which is alleged to be in deviation from the standard operating procedure laid down by the government, according to sources. RVK

Business highlights

The Indian Energy Exchange (<keyword id="19906388" type="General" weightage="20" keywordseo="IEX" source="keywords">IEX</keyword>) has posted a 9.5 per cent rise in <keyword id="20569223" type="General" weightage="20" keywordseo="consolidated-profit" source="keywords">consolidated profit</keyword> after tax at Rs 96.7 crore for the March 2024 quarter on account of higher <keyword id="19942932" type="General" weightage="20" keywordseo="income" source="keywords">income</keyword>. It had clocked Rs 88.34 crore profit after tax (PAT) during the fourth quarter of the last fiscal, the company said in an exchange filing on Wednesday. The company's total income rose to Rs 149.28 crore, from Rs 129.58 crore in January-March FY23. During the period under review, its expenses stood at Rs 22.65 crore, as against Rs 19.52 crore a year ago. In FY24, the consolidated PAT rose 14.7 per cent to Rs 350.78 crore, from Rs 305.88 crore in FY23. Income for the full year was at Rs 550.84 crore, up from Rs 474.10 crore. The Board of Directors of the company announced a final dividend of Rs 1.50 for FY24. Sharing business updates, IEX said 110.1 billion units of electricity traded on its platform during the fiscal year 2023-24, registering a year-on-year (y-o-y) increase of 13.7 per cent. The DAM (day-ahead market) prices on the exchange declined to Rs 5.24/unit in FY24, lower by 12 per cent y-o-y compared with Rs 5.94/unit in FY23. During <keyword id="20028449" type="General" weightage="20" keywordseo="Q4" source="keywords">Q4</keyword> FY24, IEX achieved 30.1 BU volume across all segments, registering an increase of 15.5 per cent on y-o-y basis. This volume comprises 25.9 BU from the conventional power market segment, 1 BU from the green market segment, and 32.48 lac Renewable Energy Certificates (RECs) (equivalent to 3.2 BU). REC traded volume in the fourth quarter of 2023-24 increased by 98 per cent on y-o-y basis. The DAM prices on the exchange lowered to Rs 4.89/unit in January-March 2024, a decline of 20 per cent y-o-y compared with Rs 6.08/unit a year ago. Noida-based IEX is India's leading energy exchange providing an automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/vivo-takes-the-top-spot-in-india-top-smartphone-brands-in-q1-2024/slidelist/110150830.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/vivo-takes-the-top-spot-in-india-top-smartphone-brands-in-q1-2024/slidelist/110150830.cms" target="_blank">Vivo takes the top spot in India: Top smartphone brands in Q1 2024</a><a href="https://www.businessinsider.in/tech/news/google-i/o-2024-highlights-ask-photos-ai-overviews-ai-fraud-protection-and-more-announced/articleshow/110143756.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/google-i/o-2024-highlights-ask-photos-ai-overviews-ai-fraud-protection-and-more-announced/articleshow/110143756.cms" target="_blank">Google I/O 2024 highlights: Ask Photos, AI Overviews, AI fraud protection and more announced</a><a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank">Virat Kohli-backed Go Digit IPO subscription opens today — all you need to know</a>

IEX Q4 net profit grows 9.5% to ₹97 crore

Regis Duvignau/ReutersLithium-ion batteriesHello, and welcome to Power Line, a weekly clean-energy newsletter from Business Insider. <ul><li><a href="http://newsletter.businessinsider.com/join/4np/power-line">Sign up here</a> to get Power Line in your inbox every Friday.</li><li>Most of our coverage is available exclusively to BI Prime subscribers. If you're looking for a discount on a subscription to BI Prime, <a href="https://www.businessinsider.com/subscription/prime-discount?r=birefer-bjoneshttps://www.businessinsider.com/subscription/prime-discount?r=birefer-bjones">click here</a>. </li><li>Have a tip or feedback to share? Shoot me an email at <a href="mailto:bjones@businessinsider.com">bjones@businessinsider.com</a>.</li></ul><h2><a href="https://www.businessinsider.com/battery-startup-advano-raises-185-million-from-fadell-thiel-2020-2">Is your phone always dying? This technology could help.</a></h2>Yes, I'm one of those people whose phone is always on the edge of death. So, of course, I was thrilled to learn about an impending breakthrough in battery tech - the first in three decades. <a href="https://www.businessinsider.com/battery-startup-advano-raises-185-million-from-fadell-thiel-2020-2">As I wrote this morning</a>, a crop of startups is developing a silicon-based material for lithium-ion batteries, the ones that power our phones (and pretty much everything else). They say it can improve energy storage by 20-40%. Exciting, yes, but these companies face a few big challenges along the gauntlet to commercialization. Silicon is the best. But it's also the worst. While silicon can store a lot more charge than traditional materials (graphite, mostly), it's a particularly thorny element. It expands a lot as it absorbs charge, and it's prone to rapid degradation.It's tough to get battery tech out of the lab. There's a reason the graveyard of battery startups is large - and it doesn't have much to do with science. <ul><li>"The problem in batteries isn't coming up with a cool new piece of science," Gene Berdichevsky, the founder of the <a href="https://www.businessinsider.com/list-top-clean-energy-startups-disrupting-energy-industry-2020-1#sila-nanotechnologies-1-billion-18">billion-dollar battery startup Sila Nanotechnologies</a>, told us last year.</li><li>Instead, it's about translating science in an academic lab to mass-scale production, which requires a different set of skills. </li></ul>Will startups be able to iron out these kinks? The buzzy new battery company Advano says it already has. AdvanoA single particle of the silicon-based material battery startup Advano is developing<h2><a href="https://www.businessinsider.com/battery-startup-advano-raises-185-million-from-fadell-thiel-2020-2">iPod inventor Tony Fadell and Peter Thiel are backing one of these breakthrough battery startups </a></h2>iPods are over. They're through!But these gadgets were, of course, revolutionary - and you could say the same thing about the smart thermostat company Nest, another one of Fadell's very successful children (he cofounded the company). This is to say: It's news that Fadell is throwing his weight behind a startup working on a silicon-based material for batteries called Advano. Reader, <a href="https://www.businessinsider.com/battery-startup-advano-raises-185-million-from-fadell-thiel-2020-2">meet Advano</a>:<ul><li>The startup <a href="https://www.businessinsider.com/battery-startup-advano-raises-185-million-from-fadell-thiel-2020-2">emerged from stealth mode in January</a>, announcing that it raised $18.5 million.</li><li>Peter Thiel's Thiel Capital and Y Combinator are also investors. </li><li>Unlike many of its competitors, Advano is based in New Orleans, a hotspot of the chemicals industry. <a href="https://www.businessinsider.com/battery-startup-advano-raises-185-million-from-fadell-thiel-2020-2">The founder says</a> it gives Advano a leg up, and a better chance at scaling up. </li><li>Advano is first targeting the consumer electronics industry, which it says is asking for batteries with a 10-20% increase in energy storage.</li><li>Advano says its tech can overcome some of the silicon shortcomings we just talked about above. For more on that, you'll have to <a href="https://www.businessinsider.com/battery-startup-advano-raises-185-million-from-fadell-thiel-2020-2">read my story</a>.</li></ul>You know who also loves batteries? People in a blackout who have rooftop solar. SunrunLynn Jurich, the CEO of Sunrun<h2><a href="https://www.businessinsider.com/sunrun-strategy-rooftop-solar-batteries-to-aid-grid-avoid-blackouts-2020-2">By the numbers: Sunrun is crushing Tesla in the solar biz</a></h2><ul><li>296 MW: Solar deployed by Sunrun in the first nine months of 2019</li><li>119 MW: Solar deployed by Tesla in that same period</li><li>54 MW: Solar deployed by Tesla in the last three months of 2019 - far behind the 115-118 MW that Sunrun projects it will have deployed in that same period. </li></ul><h2><a href="https://www.businessinsider.com/sunrun-strategy-rooftop-solar-batteries-to-aid-grid-avoid-blackouts-2020-2">How is Sunrun doing it? </a></h2>SolarCity (now part of Tesla) has slid since being acquired by the electric-vehicle giant in 2016. <ul><li>As it turns out, buying solar panels for your home is nothing like buying a car. It's "a very complex sale," one analyst told me today. </li><li>"Selling a car to a consumer and putting solar on the roof of a consumer's home should have been a good synergy, but I don't think it proved out that way," Ron Pernick, the founder of the clean energy research firm Clean Edge, said.</li><li>Tesla has also slashed its investment in new customer acquisition, <a href="https://www.greentechmedia.com/articles/read/tesla-again-slips-in-residential-solar-rankings-dropping-to-third-in-q1-201">Greentech Media reported last summer</a>. </li></ul>Sunrun is marketing its products as a relief system for <a href="https://www.businessinsider.com/sunrun-strategy-rooftop-solar-batteries-to-aid-grid-avoid-blackouts-2020-2">blackouts and a stressed-out grid</a> - and it seems to be working. The US electrical grid has seen better days. Certainly brighter ones. Last fall, PG&amp;E shut off power to hundreds of thousands of its customers.<ul><li>The company's battery sales ballooned last October, when the shutoffs peaked, a spokesperson said. </li><li>Sunrun published a report that showed how its customers who lost grid power were able to keep the lights on for up to five or six days straight.</li></ul>Sunrun <a href="https://www.businessinsider.com/sunrun-strategy-rooftop-solar-batteries-to-aid-grid-avoid-blackouts-2020-2">also told us</a> that its panels, distributed across thousands of homes, could replace carbon-emitting power plants on the grid. ArcadiaArcadia<h2><a href="https://www.businessinsider.com/arcadia-helps-you-buy-renewable-energy-save-money-utility-bill-2020-2">What you need to know about the digital energy platform Arcadia, in 3 levels of detail </a></h2>The startup has raised <a href="https://www.businessinsider.com/arcadia-helps-you-buy-renewable-energy-save-money-utility-bill-2020-2">$70 million from big backers including G2VP</a>, a venture fund that spun out of Kleiner Perkins in 2016. But what does it actually do?Level 1: Arcadia is a sleek website and app that manages your utility bill. Depending on where you live, it can shave up to 20% off your bill and allow you to source clean energy for your home. Level 2: Arcadia has three major offerings, two of which are only available to customers in certain regions of the country. <ul><li>RECs: When you sign up for the platform, Arcadia automatically matches half of your monthly energy usage with what are called renewable energy certificates (or RECs) at no cost - no matter where you live. </li><li>Smart Rate: If you live in a region where the energy market is deregulated - such as in much of the Northeast and the Great Plains - Arcadia can hook you up with cheaper sources of energy. </li><li>Community solar: Residents in a handful of states (which may or may not overlap with those above!) can join Arcadia's community solar program, which means you'll own or lease a fraction of a nearby solar farm. </li></ul>Level 3: Oh, boy. So the US energy system is … complicated. That's actually one reason why Arcadia is useful. But there are a couple of details about Arcadia's business that are worth delving into.<ul><li>RECs are far wilder than they sound. When a wind or solar farm generates 1 MWh of energy, it also generates one REC - which represents its "greenness." </li><li>Energy and RECs are often sold separately, and the price of the REC varies by location and demand.</li><li>Arcadia will eventually offer financing for energy efficiency devices like smart thermostats. It's likely that the company will eventually integrate its offerings with those tools.</li><li>What could that look like? "Consumers can automatically have their thermostat programmed to optimize for cost savings and optimize for carbon emissions at the same time," said Sameer Reddy, a partner at Energy Impact Partners, which backs Arcadia. </li></ul><h2>4 big stories I didn't cover</h2><ul><li>This week, energy giant BP <a href="https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bernard-looney-announces-new-ambition-for-bp.html">set an "ambition"</a> to reach net-zero emissions by 2050 from its operations and the oil and gas it directly extracts and sells. </li><ul><li>The utility giant Dominion Energy also <a href="https://investors.dominionenergy.com/news/press-release-details/2020/Dominion-Energy-Sets-New-Goal-of-Net-Zero-Emissions-by-2050/default.aspx">announced</a> a commitment this week to achieve net-zero emissions by 2050, which covers the company's "electricity generation and gas infrastructure operations." </li></ul><li>Greentech Media <a href="https://www.greentechmedia.com/articles/read/fitch-solar-projects-much-more-reliable-performers-than-wind-farms?utm_campaign=GTMsocial&amp;utm_medium=social&amp;utm_source=twitter&amp;utm_content=1581367641">reported</a> on an analysis that shows wind farms are less reliable than solar in meeting output expectations. I find that interesting because <a href="https://www.businessinsider.com/hedge-fund-lansdowne-partners-is-investing-in-wind-vs-solar-2020-1">big investors say wind will beat out solar in returns</a>. </li><li>Denmark's Orsted, a top-5 wind developer, is betting offshore wind energy will <a href="https://www.businessinsider.com/what-is-hydrogen-fuel-industry-explainer-2020-1">green the $145 billion hydrogen</a> industry, <a href="https://www.bloomberg.com/news/articles/2019-12-06/a-39-billion-wind-company-bets-hydrogen-is-key-to-climate-goals">Bloomberg reports</a>. <a href="https://www.businessinsider.com/what-is-hydrogen-fuel-industry-explainer-2020-1">And, well, I'm obsessed with hydrogen</a>. </li><li>Finally, a good surprise: Global carbon emissions "<a href="https://www.iea.org/news/defying-expectations-of-a-rise-global-carbon-dioxide-emissions-flatlined-in-2019">flatlined</a>" last year. </li></ul>That's all! It's a three-day weekend, which is great news because I've been blowing my nose for what feels like 100-days straight. I hope you enjoy the break. - Benji <h3>NOW WATCH: <a href="https://www.businessinsider.com/puffer-fish-are-not-filled-with-air-2019-11">What's inside a puffer fish</a></h3>

Power Line: Tesla crushed by Sunrun in solar sales, battery breakthroughs, and a guide to the energy provider Arcadia

(Image source- Reuters) <ul><li>The board of the state-owned <keyword id="6356834" type="COMPANY" weightage="20" keywordseo="indian-oil-corporation">Indian Oil Corporation</keyword> (IOC) has approved a plan to buy back a little over 3% of its total equity shares. </li><li>The fuel retailer will spend around ₹44.4 billion on the buyback plan, culminating in its largest buyback in 17 years. </li><li>The move also includes a dividend payout of ₹6,75 per share, resulting in a total payout of ₹65.6 billion. </li><li>This will result in a huge cash infusion for IOC’s shareholders, especially the central <keyword id="26362" type="ORGANIZATION" weightage="20" keywordseo="Government">government</keyword>, which holds a 54% stake in the oil firm. </li></ul>On 13 December, the state-owned Indian Oil Corporation (IOC) <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/22e1d47f-e2d1-4ec5-b78c-f27d5217edb5.pdf">announced</a> in a stock exchange filing that its board had approved a plan to buy back a little over 3% of its total equity shares. India’s largest fuel retailer will spend around ₹44.4 billion on the buyback plan, culminating in its biggest buyback in 17 years. The move also includes a dividend payout of ₹6,75 per share, resulting in a total payout of ₹65.6 billion. It will result in a huge cash infusion for IOC’s shareholders, especially the central government, which holds a 54% stake in the oil firm. However, it could add unnecessary strain to IOC’s finances. At the end of September 2018, it had total debts of <a href="https://iocl.com/download/Q2Results18-19.pdf">around ₹600 billion</a>, compared with a paltry cash balance. It remains to be seen how exactly it will fund the transaction, but it will likely incur a lot more <keyword id="44647" type="ORGANIZATION" weightage="20" keywordseo="debt">debt</keyword>. This, coupled with its <a href="https://www.firstpost.com/business/indian-oil-corps-net-debt-levels-to-rise-due-to-large-capital-expenditure-and-investment-plans-in-medium-term-fitch-4752471.html">high capital expenditure plans</a> in the medium term, could leave it a rather unviable position. The impetus behind the transaction is to help the government, acting through the the Department of Investment and Public Asset Management (DIPAM), meet its <keyword id="44532" type="PERSON" weightage="20" keywordseo="Disinvestment">disinvestment</keyword> target of ₹800 billion for fiscal 2019. It has reportedly collected 68% of that amount so far this year. The DIPAM is reportedly planning to earn as much as ₹50 billion from share buyback programmes of large state-owned enterprises energy firms like Coal India and Bharat Heavy Electricals, according to the Press Trust of India. As per a government order, all public sector enterprises with a cash balance of over ₹10 billion have to undertake share buybacks. Last week, the government also decided to sell a 52.63% stake in infrastructure financier Rural Electrification Corp (REC) to another state-run power lender, Power Finance Corporation (PFC). However, just like IOC, the issue of debt could be a problem here. PFC will have to raise a significant amount of debt to finance the purchase, a tough ask for a firm weighted down by ₹283 billion worth of gross non-performing loans. SEE ALSO: <a href="https://www.businessinsider.in/heres-why-the-indian-governments-intervention-to-stop-rising-fuel-prices-may-only-be-a-temporary-relief/articleshow/66082071.cms">Here’s why the Indian government’s intervention to stop rising fuel prices may only be a temporary relief</a> <a href="https://www.businessinsider.in/indias-reliance-is-teaming-up-with-bp-in-a-move-that-could-send-the-countrys-state-owned-fuel-giants-into-a-tailspin/articleshow/66331991.cms">India's Reliance is teaming up with BP in a move that could send the country's state-owned fuel giants into a tailspin</a> <a href="https://www.businessinsider.in/indias-government-is-asking-its-largest-oil-company-to-sell-fuel-below-global-prices/articleshow/64300993.cms">India’s government is asking its largest oil company to sell fuel below global prices</a>

India’s largest fuel retailer is undertaking its biggest share buyback since 2001 in order to help the central government meet its disinvestment target

<keyword id="1738613" type="UNKNOWN" weightage="60" keywordseo="Mobile-Insights">Mobile Insights</keyword> is a daily newsletter from <a href="https://intelligence.businessinsider.com/welcome?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MI&amp;utm_content=link&amp;utm_campaign=BIIMobile">BI Intelligence</a> delivered first thing every morning exclusively to <a href="https://intelligence.businessinsider.com/welcome?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MI&amp;utm_content=link&amp;utm_campaign=BIIMobile">BI Intelligence</a> subscribers. <a href="https://intelligence.businessinsider.com/welcome?utm_source=House&amp;utm_medium=Edit&amp;utm_term=MI&amp;utm_content=link&amp;utm_campaign=BIIMobile">Sign up for a free trial of BI Intelligence today</a>. 

<div class="KonaFilter image-container float_right" style="width:400px"><div class="image on-image">Justin Sullivan/Getty Images</div></div>
<a href="http://qz.com/134247/apples-cheap-iphone-experiment-is-failing/">Apple Cuts Back Production Of The iPhone 5C</a> (Quartz) <keyword id="6354427" type="CITY" weightage="60" keywordseo="Apple">Apple</keyword> is reportedly set to scale back production on its new <keyword id="1778864" type="UNKNOWN" weightage="60" keywordseo="iPhone-5C">iPhone 5C</keyword> phone just 30 days after its initial launch.
The 5C was Apple's attempt at a "cheap" phone, one that was intended to help Apple recapture some lost market share from the bottom of the market. Late smartphone adopters had been trending toward cheaper, but still high quality Android handsets from the likes of Samsung, and also from Chinese handset makers like ZTE, Huawei, Lenovo, and Xiaomi. 
Unfortunately, a cutback on production must mean that the 5C is failing to live up to sales expectations. 
We initially speculated that the iPhone 5C's "cheap" price <a href="https://intelligence.businessinsider.com/what-the-5c-means-for-apple-2013-9">may not have been cheap enough</a> to lure bottom-tiered smartphone users across the globe. Already, 5C sales <a href="http://qz.com/127294/what-apple-wont-tell-you-the-iphone-5s-is-outselling-the-5c-nearly-four-to-one/">were being outpaced 4-to-1</a> by sales of Apple's new flagship, top-tiered iPhone 5S. 
This may be an early sign of Apple's impending future. While cheap Android handsets flood the market, Apple will likely have to reassert its position as a high-quality, high-margin device maker versus reaching for scale in a crowded space. <a href="http://qz.com/134247/apples-cheap-iphone-experiment-is-failing/">Read &gt;</a>
In other news...
Twitter is gearing up to relaunch its MagicRecs service which <a href="http://www.buzzfeed.com/jwherrman/twitter-is-building-a-secret-weapon">will send push notifications or direct messages to users</a> notifying them of a trending topic. (BuzzFeed)
BlackBerry is <a href="http://www.bloomberg.com/news/2013-10-09/blackberry-is-said-to-warn-to-idea-of-a-breakup.html">warming up to the idea of breaking apart</a> and selling off individual components of its business. (Bloomberg)
Businessweek has a narrative on Amazon <a href="http://www.businessweek.com/articles/2013-10-10/jeff-bezos-and-the-age-of-amazon-excerpt-from-the-everything-store-by-brad-stone">CEO Jeff Bezos</a> and how his direction led Amazon's transformation from online bookstore to online everything store. (Bloomberg Businessweek) 
AppAnnie will now start collecting and <a href="http://blog.appannie.com/app-annie-for-ebooks-infographic/?utm_campaign=weekly-digest&amp;utm_source=hs_email&amp;utm_medium=email&amp;utm_content=10523953&amp;_hsenc=p2ANqtz--EoF08TqwaIj2fyAAiWZa7umBALVqnwWanzzSXegUrlnp17VEtcfFWcB_ZBj3I3_AmI2BQC0rlefd0huPsHbuYiMUS361Pi1WpQI0ikAbUU2lHU40&amp;_hsmi=10523953">analyzing data on eBook sales</a>. (AppAnnie)
According to a New York Times survey, 1/3 of U.S. millennials (aged 18 to 34) <a href="http://gigaom.com/2013/10/10/13-of-millennials-watch-no-broadcast-tv-new-york-times-survey-says/">watch no broadcast TV</a>. (GigaOm)
The digital dividends auction <a href="http://www.strandconsult.dk/sw4704.asp">will not speed up mobile broadband expansion</a> across the E.U., according to Strand Consult in the U.K. (Strand Consult)

Apple Surrenders To The Bottom Of The Market, Cuts iPhone 5C Production

New Delhi, Jan 27 () The government is planning to raise at least Rs 10,000 crore through the seventh tranche of CPSE ETF which will open for anchor investors on Thursday.
 Central Public Sector Enterprises ETF runs a concentrated portfolio with a handful of stocks having weights of as high as 20 per cent on the underlying index. The portfolio is concentrated towards the energy and oil sector.
 The issue will open for anchor investors on Thursday and for other institutional and retail investors, the next day-- Nippon Life India Asset Management-- which has been mandated to manage the CPSE ETF on behalf of the government, said in a statement.
 Besides, the investors would get a 3 per cent discount over the issue price, it added.
 The sixth FFO (further follow on offer) or seventh tranche will have a base issue size of Rs 10,000 crore with a greenshoe option to retain a portion of the oversubscription.
 Retail investors can invest a minimum of Rs 5,000, while non-institutional investors and qualified institutional buyers (other than anchor investors) can invest a minimum of Rs 2 lakh. The minimum investment for anchor investor is fixed at Rs 10 crore.
 The decision to launch seventh tranche of CPSE Exchange Traded Fund (ETF) has been taken after receiving robust response for earlier stake sale by the government in the product.
 Through the earlier six tranches of the CPSE ETF, the government has already raised about Rs 50,000 crore; Rs 3,000 crore from the first tranche in March 2014, Rs 6,000 crore in January 2017, Rs 2,500 crore from the third in March 2017, Rs 17,000 crore in November 2018 and Rs 10,000 crore in March 2019 and Rs 11,500 crore in July 2019.
 Nippon Life India Asset Management, formerly known as Reliance Nippon Life Asset Management, had already filed 'scheme information document' for sixth FFO of CPSE ETF with markets regulator Sebi.
 The CPSE ETF tracks shares of 11 CPSEs -- ONGC, NTPC, Coal India, IOC, REC, PFC, Bharat Electronics, Oil India, NBCC India, NLC India and SJVN.
 The proceeds from the ETF will help the government meet its disinvestment target of Rs 1.05 lakh crore for the current financial year. It had aimed to garner Rs 85,000 crore through disinvestment in the preceding financial year. SP SHW
SHW

CPSE ETF's 7th tranche to open on Thursday; govt to raise Rs 10,000 cr

The <a href="https://www.businessinsider.com/insiderpicks" target="_blank" rel="noopener noreferrer">Insider Picks</a> team writes about stuff we think you'll like. Business Insider has affiliate partnerships, so we get a share of the revenue from your purchase.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.amazon.com/Danby-DAR044A4BDD-Compact-Refrigerator-Cubic/dp/B00O2MB4AC?&amp;_encoding=UTF8&amp;tag=biipgf_081417_best-mini-fridges-20&amp;linkCode=ur2&amp;linkId=8da92a0a7add66941fbbc81957a17ace&amp;camp=1789&amp;creative=9325" target="_blank" rel="noopener"></a>Danby/Business Insider</div></div></div><ul class="summary-list"><li>Mini fridges come in all shapes, styles, and sizes … kind of like college dorm rooms and roommates.</li><li>If you're looking for the perfect mini fridge and you have enough space, the <a href="https://www.amazon.com/Danby-DAR044A4BDD-Compact-Refrigerator-Cubic/dp/B00O2MB4AC?&amp;_encoding=UTF8&amp;tag=biipgf_081417_best-mini-fridges-20&amp;linkCode=ur2&amp;linkId=8da92a0a7add66941fbbc81957a17ace&amp;camp=1789&amp;creative=9325" target="_blank" rel="noopener noreferrer">Danby 4.4 Cubic Foot Mini Fridge</a> offers advanced features and enough space to hold all the perishables you could want for an affordable price.</li></ul>Back to school is one of the most popular times to purchase a mini fridge, because many students want a refrigerator in their dorm rooms. But these small refrigerators also work well for offices, rec rooms, garages, and garages that have been turned into man caves. Mini fridges aren't as energy efficient as standard-sized refrigerators, and some don't hold a consistent enough temperature to preserve food safely for long periods. However, for keeping beverages and quickly consumed items cold, it works just fine. Your student will greatly appreciate having the ability to keep sodas and snacks (and nothing else) cold for late night studying with a dorm room fridge.The key is finding the right size and features that'll make the unit perfect for your student's dorm room while fitting in your budget. As a general rule, a larger mini fridge will cost more than a smaller mini fridge and stainless steel or glass-doored mini fridges tend to be pricier.A mini fridge's capacity is listed in cubic feet. This gives you an idea of the size and number of items you can place inside, although shelves and freezer space take up some of this capacity. Some companies also list capacity for a mini fridge as the number of 12-ounce cans the unit can hold. Most dorm room fridges contain at least a small freezer compartment. However, it's not accessible through a separate door like it is with a full-size refrigerator. This causes the freezer to not be as efficient as what you'll find in a standard refrigerator. Many freezers in mini fridges are too small to even hold a large frozen pizza, for example.<h2>Here are our picks for the best mini fridges you can buy:</h2><ul class="summary-list"><li>Best mini fridge overall: <a href="https://www.amazon.com/Danby-DAR044A4BDD-Compact-Refrigerator-Cubic/dp/B00O2MB4AC?&amp;_encoding=UTF8&amp;tag=biipgf_081417_best-mini-fridges-20&amp;linkCode=ur2&amp;linkId=8da92a0a7add66941fbbc81957a17ace&amp;camp=1789&amp;creative=9325" target="_blank" rel="noopener">Danby 4.4 Cubic Foot Mini Fridge</a> </li><li>Best 2.6 cubic foot mini fridge: <a href="https://click.linksynergy.com/deeplink?id=EHFxW6yx8Uo&amp;mid=38606&amp;u1=biipgf081417bestminifridges&amp;murl=https%3A%2F%2Fwww.bestbuy.com%2Fsite%2Finsignia-2-6-cu-ft-mini-fridge-black%2F6145102.p%3FskuId%3D6145102" target="_blank" rel="noopener">Insignia 2.6 Cubic Foot Mini Fridge</a></li><li>Best 1.6 cubic foot mini fridge: <a href="https://www.amazon.com/WHS-65LSS1-Compact-Reversible-Refrigerator-Stainless/dp/B00MMRFNNS/?&amp;_encoding=UTF8&amp;tag=biipgf_081417_best-mini-fridges-20&amp;linkCode=ur2&amp;linkId=4495971003ab0d4a3d6db05ae090cd3c&amp;camp=1789&amp;creative=9325" target="_blank" rel="noopener">Midea 1.6 Cubic Foot Compact Refrigerator</a></li><li>Best 3.3 cubic foot mini fridge: <a href="https://click.linksynergy.com/deeplink?id=EHFxW6yx8Uo&amp;mid=38606&amp;u1=biipgfbestminifridges&amp;murl=http%3A%2F%2Fwww.bestbuy.com%2Fsite%2Ffrigidaire-3-3-cu-ft-mini-fridge-stainless-steel%2F5316104.p%3FskuId%3D5316104" target="_blank" rel="noopener">Frigidaire 3.3 Cubic Foot Mini Fridge</a></li><li>Best mini freezer: <a href="https://www.amazon.com/EdgeStar-Convertible-Refrigerator-Freezer-Lock/dp/B00OBSIDHO?&amp;_encoding=UTF8&amp;tag=biipgf_081417_best-mini-fridges-20&amp;linkCode=ur2&amp;linkId=a95cde4d7ca203e7e2658cb573ec0c2d&amp;camp=1789&amp;creative=9325" target="_blank" rel="noopener">EdgeStar 1.1 Cubic Foot Convertible Refrigerator/Freezer</a></li><li>Best mini fridge for drinks: <a href="https://amzn.to/2ClZabh" target="_blank" rel="noopener">Danby 120-Can Beverage Center</a></li></ul>Updated on 12/19/2018 by Malarie Gokey: Updated prices and formatting. Added the Danby can fridge.<h3>Read more about our picks in the slides below.</h3><a href="http://e.businessinsider.com/join/ci/insider-picks">Subscribe to our newsletter.</a> Find all the best offers at our <a href="https://coupons.businessinsider.com/">Coupons page</a>. Disclosure: This post is brought to you by the <a href="http://www.businessinsider.com/insiderpicks">Insider Picks</a> team. We highlight products and services you might find interesting. If you buy them, we get a small share of the revenue from the sale from our commerce partners. We frequently receive products free of charge from manufacturers to test. This does not drive our decision as to whether or not a product is featured or recommended. We operate independently from our advertising sales team. We welcome your feedback. Email us at insiderpicks@businessinsider.com.

The best mini fridges you can buy

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Courtesy of Bouchaib El Hassani</div></div></div><ul><li><a href="https://markets.businessinsider.com/stocks/lyft-stock">Lyft</a> shares fell more than 4% late Tuesday after the ride-hailing app reported earnings for the first time as a public company.</li><li>Lyft's first-quarter revenue, as well as revenue outlook, topped analysts' expecations.</li><li>The report comes days before rival <a href="https://markets.businessinsider.com/news/stocks/uber-ipo-uber-seen-as-once-in-a-generation-company-but-lyft-looms-2019-5-1028158469">Uber</a> is expected to debut on the public market.</li><li><a href="https://markets.businessinsider.com/stocks/lyft-stock">Watch Lyft trade live</a>.</li></ul><a href="https://markets.businessinsider.com/stocks/lyft-stock">Lyft</a> shares fell more than 4% in a volatile late trading session after the ride-hailing app delivered its first quarterly earnings report as a public company. Lyft's revenue, as well as its revenue outlook, topped analysts' forecasts. Two of Lyft's closely watched metrics, active riders and revenue per active rider, showed robust growth compared to the same time last year. Active riders rose by 46%, from 14 million a year ago to 20.5 million in the first quarter. Revenue per active rider, meanwhile, rose by 34% from the same time last year.Here's what Lyft reported, compared with what analysts polled by Bloomberg forecast:<ul><li>Adjusted net loss per share: $9.02 versus a loss between $7.93 and $14.14 expected.</li><li>Revenue: $776.0 million versus $738.5 million expected.</li><li>Second-quarter 2019 adjusted EBITDA guidance: $270 million to $280 million versus a loss of $320.41 million expected.</li><li>Second-quarter 2019 revenue guidance: $800 million to $810 million versus $782.15 million expected. </li></ul>Lyft has had a <a href="https://markets.businessinsider.com/news/stocks/should-i-buy-lyft-stock-2019-5-1028177988">brutal</a> six weeks on the stock market. To place Lyft's performance in perspective, consider its first month of trading relative to other large initial public offerings in the US. Its 20.5% decline was the second-worst on record, only better than <a href="https://markets.businessinsider.com/stocks/fb-stock">Facebook</a>'s 21% drop <a href="https://markets.businessinsider.com/news/stocks/lyft-stock-price-how-does-lyft-ipo-compare-to-facebook-ipo-2019-4-1028103321">seven years ago</a>, according to Dealogic.Analysts attribute the drop to a few things. Wall Street is concerned over Lyft's uncertain path to profitability (it lost <a href="https://markets.businessinsider.com/news/stocks/initial-public-offering-how-unprofitable-companies-fared-2019-3-1028072181">$911 million</a> last year) and competition from rival <a href="https://markets.businessinsider.com/news/stocks/initial-public-offering-lyft-stock-price-hits-low-after-uber-files-2019-4-1028143083">Uber</a>, which is expected to price its IPO later this week. Wall Street was looking for a few key metrics like active riders, total rides, <a href="https://www.businessinsider.com/uber-lyft-strike-why-take-rate-is-so-important-2019-5">take rates</a>, and bookings. Another important metric is revenue per active rider, which comes from dividing quarterly revenue by active riders for that quarter.That's important because analysts expect that measure's growth will flatline in the coming years. <div class="KonaFilter image-container display-table"><div><div class="image on-image">UBSLyft revenue per active rider.</div></div></div>Gross bookings growth is also expected to slow, according to UBS analysts' projections. <div class="KonaFilter image-container display-table"><div><div class="image on-image">UBSUBS projections for Lyft gross bookings.</div></div></div>To be fair, the majority of analysts are bullish. Of those polled by Bloomberg, 15 say "buy," eight rec commend "hold," and two suggest "sell." Raymond James analyst Justin Patterson, who has a price target of $85 - 45% above where shares are currently trading - prior to the report said he expected user growth and frequency to "remain healthy," and believes the company has room to grow in both the US and Canada."Net, we continue to expect LYFT to trade on 1) positive revisions to revenue and gross profit and 2) modest multiple expansion from investors becoming comfortable with TAM and competition," he said.Tuesday's earnings report comes as Uber and Lyft drivers prepare for <a href="https://www.businessinsider.com/uber-and-lyft-strike-protest-drivers-planning-to-over-pay-rates-2019-5">strikes</a> this week to protest pay and working conditions. The consternation comes down to a metric known as the <a href="https://www.businessinsider.com/uber-lyft-strike-why-take-rate-is-so-important-2019-5">take rate</a>, which is the percentage of a driver's fare that the ride-hailing company keeps.Lyft shares were volatile in Tuesday's regular session, rallying by as much as 1.7% and falling by as much 4.2%. Read more Lyft coverage from Markets Insider and Business Insider:<a href="https://www.businessinsider.com/uber-lyft-strike-why-take-rate-is-so-important-2019-5">Uber and Lyft drivers are planning to strike this week, and it highlights the challenge the 2 ride-hailing giants face as public companies</a><a href="https://markets.businessinsider.com/news/stocks/lyft-stock-how-valuation-compares-to-other-tech-names-at-ipo-2019-4-1028090958">Lyft went public at a $24 billion valuation. Here's how that compares to other high-profile tech companies dating back to the dotcom bubble.</a><a href="https://www.businessinsider.com/uber-and-lyft-strike-protest-drivers-planning-to-over-pay-rates-2019-5">Uber and Lyft drivers are planning a massive strike this week over work conditions and pay rates</a><a href="https://www.businessinsider.com/cities-where-uber-and-lyft-drivers-make-the-most-money-2019-5">15 cities where Uber and Lyft drivers make the most money</a><div class="KonaFilter image-container display-table"><div><div class="image on-image">Markets InsiderLyft shares.</div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/reporter-calls-out-claim-that-fbi-was-happy-comeys-firing-sarah-huckabee-sanders-white-house-press-briefing-2017-5">This video shows the moment Sarah Sanders lied to a room full of reporters about FBI agents telling her they were happy Trump fired Comey</a></h3> <div> </div> </div>

LIVE: Lyft is falling after delivering earnings for the first time as a public company

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Mark Brake/Getty</div></div></div><ul class="summary-list"><li>The Securities and Exchange Commission filed a lawsuit against <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> CEO Elon Musk on Thursday, alleging the billionaire made "false and misleading statements" about taking the company private.</li><li>Shares plummeted 13% as investors and Wall Street analysts dove into what the suit might mean for the electric-car maker. </li><li><a href="https://markets.businessinsider.com/stocks/tsla-stock">Watch Tesla trade in real time here. </a></li></ul><a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-elon-musk-sued-by-the-sec-2018-9-1027574392">Tesla shares plummeted</a> after the <a href="https://www.businessinsider.com/tesla-elon-musk-sued-by-sec-2018-9?utm_source=markets&amp;utm_medium=ingest">Securities and Exchange Commission filed a lawsuit against CEO Elon Musk</a>, which on Thursday alleged the billionaire made "false and misleading statements" in tweets on August 7 claiming he could take the electric-car maker private at $420 a share.Early trading Friday has shares down about 12%, as Wall Street analysts begin to digest the possible repressions of such a lawsuit and disseminate that research to their clients. Tesla shares are trading at $269 a share - a full 11% below the Street's pre-lawsuit average price target of $305. Federal prosecutors are rec commending Musk - who <a href="https://www.cnbc.com/2018/09/28/teslas-musk-pulled-plug-on-settlement-with-sec-at-last-minute.html?__source=sharebartwitter&amp;par=sharebar">reportedly pulled out of a deal with the SEC to avoid a guilty plea at the last minute</a> -pay a penalty and are seeking to bar him from running a public company in the United States. Here's a taste of what sell-side analyst are saying this morning:<h2>RBC Capital Markets: "Lawsuit Secured"</h2>In a jab at Musk's "funding secured" tweet, RBC Capital Markets says the suit "adds further uncertainty to the Tesla story.""In our view, this adds more drama to an already volatile stock," writes analyst Joseph Spak."Investor questions will likely turn to whether Elon remains CEO over time (he can remain CEO for now). It is difficult to put a probability on that since the issue now needs to be litigated and judgement needs to be determined or a settlement reached. We have no edge on how a legal preceding will play out."RBC also believes, like <a href="http://www.businessinsider.com/tesla-stock-price-wall-street-is-beginning-to-worry-the-company-might-go-bankrupt-2018-5">most other Wall Street sell-side shops, that Tesla will need a cash infusion</a>. That could be complicated after this lawsuit."Uncertainty around the future leadership at Tesla may impact its ability to raise additional capital," Spak wrote."To be clear, near-term if Tesla is able to ramp the Model 3 over the coming quarters, we believe cash flow should improve. But, we think the cash level (or stock price) needs to improve to be able to handle the $920mm convertible bonds due in Feb 2019 (conversion price is ~$360)."He added: "Having Elon Musk as CEO has undoubtedly made that easier in the past. Securing attractive funding in the future could be more difficult."<h2>UBS: "Will the Department of Justice be next?" </h2>After the initial "funding secured" tweets that sent Wall Street into hysteria, UBS says it hosted a conference call with a former SEC executive. Based on that conversation, the bank says "the DOJ's involvement depends on proving the Musk tweet was intended to manipulate the stock." Even without further action by another regulator, UBS says it will pose clear challenges to Tesla in the immediate future - including the possibility of a new boss. "While the outcome of the case is uncertain, if the SEC prevails Tesla may have to find a new CEO," analyst Colin Langan said in a note. "A new CEO would have to deal with <a href="https://neo.ubs.com/shared/d22CH7HxzwbbVT">manufacturing issues</a>, <a href="https://neo.ubs.com/shared/d2s0NoCDIJ7SJ8f">liquidity concerns</a>, and a <a href="https://neo.ubs.com/shared/d2djhE2YQ6diacj">marginally profitable flagship product</a>. Regardless of the outcome of the lawsuit, we continue to estimate Tesla will need to raise capital in 2019.""Historically, Tesla has had easy access to capital markets, largely due to the public's perception of Musk as a visionary," continued Langan, who has a $190 price target for the stock. "Without Musk, investors may no longer be willing to continue funding a company that has never reported an annual profit."<h2>JPMorgan: "A number of other risks"</h2>The SEC's lawsuit could "hasten the inevitable transition of Tesla shares toward being valued based upon fundamentals alone (fundamentals which we have long held do not support a value close to the current trading price)," analyst Ryan Brinkman said in a note Friday, <a href="https://www.marketwatch.com/story/teslas-stock-tumbles-after-sec-suit-bearish-analyst-sees-key-man-risk-2018-09-28">according to MarketWatch.</a> He has a $195 price target for the stock. "Beyond this 'key man risk' concern (which we believe is of vital importance) we also see a number of other risks, including the potential for decreased confidence in the company on the part of investors, consumers, and suppliers," he continued. <h2>Vertical Group: "Clear Manipulation" </h2>"This, in our view, was clear manipulation of the stock higher to hurt the shorts," Gordon Johnson, an analyst at Vertical Group, <a href="https://tdameritradenetwork.com/video/rB4AoWX-Fh6BZhzifOQAJw">said on TD Ameritrade Network late Thursday.</a> He's had an ultra-bearish $88 price target for months."It was interesting that the number one investor in Tesla, Baillie Gifford, confirmed that they had not heard anyone regarding this go-private idea. So the whole thing, when he said not just funding secured but we needed a shareholder vote, if that was the case everybody would have heard of that and would have approved so this was clear manipulation."Johnson says the suit only confirms what he's been saying for a while now, and that it will force investors to actually focus on the company's fundamentals. "The fundamentals of Tesla have been horrendous, I don't think anybody would deny that. But what has kept Tesla's stock hoisted is the perpetual tweets and promises from Elon Musk, promises that he hasn't met," Johnson said. "The point is, there's always this carrot that Elon Musk is dangling out in the future of something that is going to take this company to Nirvana if you will and he consistently misses it," he continued. "We've counted over 113 mistruths that he's stated, and you had and over 60 executives leave in 2018 alone. Without him constantly putting out comments on twitter to give investors the hope that one day they're going to get to where revenue and earnings to justify this valuation, the stock will come under tremendous pressure because people will be forced to focus on the fundamentals."<h2>Now read: </h2><ul><li><a href="https://www.businessinsider.com/stanley-druckenmiller-next-financial-crisis-scenario-could-be-bigger-than-last-2018-9?r=promo-below-article">'We didn't learn anything' - Billionaire investor Stanley Druckenmiller says the next financial crisis could be worse than the last, and lays out how it might happen</a></li><li><a href="https://www.businessinsider.com/stock-market-recommendations-bank-of-america-20-year-distortion-finally-gone-2018-9?r=promo-below-article">BANK OF AMERICA: A quirk that's distorted the stock market for 20 years is finally gone - here's what traders should do next</a></li><li><a href="https://www.businessinsider.com/ray-dalio-bridgewater-associates-next-recession-scenario-great-depression-parallels-2018-9?r=promo-below-article">Ray Dalio, who predicted the financial crisis, outlines his scenario for the next recession - and draws some pointed parallels to the Great Depression</a></li></ul><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://markets.businessinsider.com/stocks/tsla-stock">Markets Insider</a></div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/inside-trump-maga-hat-factory-california-make-america-great-again-2018-8">Inside the Trump 'MAGA' hat factory</a></h3> <div> </div> </div>

'Lawsuit secured': Here's what Wall Street is saying about the SEC's lawsuit against Elon Musk

<ul class="summary-list"><li>Traveling can be stressful, but when you have the right gear, everything else just seems to fall away.</li><li>We've rounded up the best <keyword id="6354692" type="UNKNOWN" weightage="60" keywordseo="Travel">travel</keyword> clothes for men, including <a href="http://www.pntrs.com/t/TUJGRkdNRUJGSEhLR01CRklNSkxG?sid=biiipgf082218besttravelclothesmen&amp;url=https%3A%2F%2Fpublicrecapparel.com%2Fproducts%2Fall-day-every-day-pant-inseam-32" target="_blank" rel="noopener">comfy pants</a>, <a href="https://amzn.to/2LP2tOH" target="_blank" rel="noopener">compression socks</a>, a great <a href="http://www.pntrs.com/t/TEFNS0VFQUVHR0pGTEFFREhLRE0?sid=biiipgf082218besttravelclothesmen&amp;url=https%3A%2F%2Fwww.everlane.com%2Fproducts%2Fmens-sweatshirt-hoodie-zip-grey-marled%3Fcollection%3Dmens-sweatshirts" target="_blank" rel="noopener">hoodie</a>, <a href="https://click.linksynergy.com/deeplink?id=EHFxW6yx8Uo&amp;mid=41084&amp;u1=biipgf082218besttravelclothesmen&amp;murl=https%3A%2F%2Fwww.rhone.com%2Fproducts%2Fscout-crew-neck%3Fvariant%3D20794361221" target="_blank" rel="noopener">shirts</a> that banish odors, and <a href="https://www.awin1.com/cread.php?awinmid=7789&amp;awinaffid=257137&amp;clickref=biiipgf082218besttravelclothesmen&amp;p=https%3A%2F%2Fwww.vivobarefoot.com%2Fus%2Fmens" target="_blank" rel="noopener">packable travel shoes</a> that are comfortable and stylish.</li></ul>There are those for whom travel is a means to an end. And then there are those for whom travel is an end in and of itself. But regardless of which philosophical camp you fall into, it seems that we can all agree on one point. When traveling, you should be comfortable. Regardless of whether your idea of fun is jetting off by plane to some far-off island or taking a road trip in order to eat your way through every fast food joint on the interstate, you'll want to be 100% comfortable as you do it. No more business casual, collared shirts, or belted pants. No matter how you're traveling, you'll want to have the right wardrobe for it.When it comes to the perfect travel clothes, it's really all about two things: comfort and function. First and foremost, you'll want to be sure that whatever you're wearing is something you're willing to spend a very long day in (and most likely, without a shower). Then, you'll want to ensure that your clothing serves a purpose. Those socks, for example, should probably be of the compression variety, and those pants should probably have ample pockets for all the snacks, passports, and other important items you'll be carrying around all day. It's also wise to dress in layers when it comes to traveling. Be sure that you can always take something off or put something on. Who knows when you'll want to use your hoodie as a pillow, or when the AC in your car will give out?And finally, you'll want to keep in mind portability when it comes to the right travel clothes. Don't bring shoes, for example, that take up a ton of space in your luggage. Rather, you'll want to find a pair that's light and compact as well as easy on your feet.Ultimately, we're confident that all of our favorite travel clothes will make your next vacation all the more enjoyable. <h2>Here are the best men's travel clothes you can buy:</h2><ul class="summary-list"><li>Best travel pants: <a href="https://www.pjtra.com/t/TUJGRkdNRUJGSEhLR01CRklNSkxG?url=https%3A%2F%2Fpublicrec.com%2Fcollections%2Fbottoms-pants%2Fproducts%2Fall-day-every-day-pant-inseam-32%3Fvariant%3D15816655011874" target="_blank" rel="noopener nofollow nofollow">Public Rec ADED Pants</a></li><li>Best travel shoes: <a href="https://www.awin1.com/cread.php?awinmid=7789&amp;awinaffid=257137&amp;clickref=biiipgf082218besttravelclothesmen&amp;p=https%3A%2F%2Fwww.vivobarefoot.com%2Fus%2Fmens" target="_blank" rel="noopener nofollow">Vivo Barefoot shoes</a></li><li>Best compression socks: <a href="https://www.amazon.com/gp/product/B005P4N4RW/ref=as_li_tl?ie=UTF8&amp;tag=biipgf_080218_best-compression-socks-20&amp;camp=1789&amp;creative=9325&amp;linkCode=as2&amp;creativeASIN=B005P4N4RW&amp;linkId=28589686bb998fabf6573484f9b5d614" target="_blank" rel="noopener nofollow">Sockwell Compression Socks</a></li><li>Best travel shirt: <a href="https://click.linksynergy.com/deeplink?id=EHFxW6yx8Uo&amp;mid=41084&amp;u1=biipgf082218besttravelclothesmen&amp;murl=https%3A%2F%2Fwww.rhone.com%2Fproducts%2Fscout-crew-neck%3Fvariant%3D20794361221" target="_blank" rel="noopener nofollow">Rhone GoldFusion Scout Shirt</a></li><li>Best travel hoodie: <a href="http://www.pntrs.com/t/TEFNS0VFQUVHR0pGTEFFREhLRE0?sid=biiipgf082218besttravelclothesmen&amp;url=https%3A%2F%2Fwww.everlane.com%2Fproducts%2Fmens-sweatshirt-hoodie-zip-grey-marled%3Fcollection%3Dmens-sweatshirts" target="_blank" rel="noopener nofollow">Everlane Classic Zip Hoodie</a></li><li>Best travel underwear: <a href="https://click.linksynergy.com/deeplink?id=EHFxW6yx8Uo&amp;mid=41084&amp;murl=https%3A%2F%2Fwww.rhone.com%2Fcollections%2Funderwear&amp;u1=1073551387.1500048334" target="_blank" rel="noopener nofollow">Rhone Boxer Brief</a></li></ul>Updated on 11/04/2019 by Amir Ismael: Updated links, prices, and formatting.<a href="http://e.businessinsider.com/join/ci/insider-picks">Subscribe to our newsletter.</a> Find all the best offers at our <a href="https://coupons.businessinsider.com/">Coupons page</a>. Disclosure: This post is brought to you by the <a href="http://www.businessinsider.com/insiderpicks">Insider Picks</a> team. We highlight products and services you might find interesting. If you buy them, we get a small share of the revenue from the sale from our commerce partners. We frequently receive products free of charge from manufacturers to test. This does not drive our decision as to whether or not a product is featured or recommended. We operate independently from our advertising sales team. We welcome your feedback. Email us at insiderpicks@businessinsider.com.

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