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<ul class="summary-list"><li>Tesla's next-generation Roadster was announced in 2017 and has faced multiple delays.</li><li>Elon Musk recently said <a target="_blank" href="https://www.businessinsider.com/tesla">Tesla's</a> Roadster takes a back seat to more pressing projects.</li></ul>Tesla continues to work on the luxury car that promises to be its most expensive vehicle to date. Nearly seven years after first unveiling the new Roadster, its release date remains a mystery.During Tesla's third-quarter earnings call, <a target="_blank" rel="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> thanked the "long-suffering deposit holders," many of whom paid $50,000 in 2017 to reserve the much-delayed electric sports car.Musk said the new Roadster hasn't come out yet because "it's the cherry on the icing on the cake" — and there are "other projects taking precedence before its launch."That includes projects with a "more serious impact on the growth of the world," Musk said. The company's larger mission is "to accelerate the progress towards a sustainable energy future," he added.<div type="image" title="Tesla Roadster." height="1008" width="1511" msid="114655713" hostid="261" sizebytes="191442"></div>"It is super fun, and we are working on it, but it has to come behind them," he said.Musk said Tesla is "actually finally making progress" and is "close to finalizing the design on it."<h2 id="5d20db04-625e-498c-a7d2-2ed41cefa5b5">Further delays wouldn't surprise Wall Street</h2>Most of the Wall Street analysts Business Insider talked to weren't surprised by a potential delay.Kate Leaman, chief market analyst at AvaTrade, told Business Insider that Musk's comments on the Roadster weren't "too surprising" and show Tesla is putting effort into areas that "will drive the most growth and have an immediate impact.""Right now, Tesla is heavily focused on high-impact projects," Leaman said, like ramping up Model Y and Cybertruck production.While the Roadster is a fan favorite, Leaman said it's also a low-volume luxury car, so it doesn't make sense for Tesla to prioritize it when the company is pushing for "affordability and scalability."Jacob Bourne, an analyst at Emarketer, a sister company to Business Insider, said that a Roadster delay is "not new for Tesla" or Musk."This happens across his businesses," Bourne said. "He talks about great, grand plans that take a long time to materialize or don't necessarily materialize," Bourne said.Tesla bull Dan Ives, an analyst at Wedbush, told BI he expects the Roadster, Semi, and sub $30,000 vehicle to all be on the road within "12 months."<h2 id="1f4195df-a2f0-4874-9115-c79f5b7980bd">'The fastest production car ever made, period'</h2>Tesla's promised Roadster is a new version of the company's first-ever vehicle, a limited-production sports car released between 2008 and 2012.Musk first announced the <a target="_blank" rel="" href="https://www.businessinsider.com/new-tesla-roadster-2017-2017-11">new Tesla Roadster</a> in November 2017 and said it would be "the fastest production car ever made, period." Tesla said the vehicle would be able to go 0-60 mph in 1.9 seconds with a top speed of over 250 miles per hour.Musk previously said <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-25000-cheap-electric-car-model-3-2022-1">deliveries were expected to begin in 2023</a>.The four-seater sports car will have a removable glass roof and is expected to cost around $200,000, according to the company. Base Roadster reservations are $50,000, with a $5,000 initial payment followed by a $45,000 wire transfer required within 10 days.<div type="image" title="Tesla Roadster" height="1125" width="2000" msid="114655710" hostid="261" sizebytes="78482"></div>In an interview with <a target="_blank" rel="" href="https://www.businessinsider.com/don-lemon-cnn-speaks-out-after-ouster-licht-cable-news-2023-6">Don Lemon</a> in March, Musk said Tesla is collaborating with SpaceX to produce the Roadster. He also said the vehicle would include "rocket technology" and didn't rule out its ability to "fly" short distances, although he didn't answer questions on whether it would include the feature directly."The only way to do something that's cooler than the Cybertruck is to combine SpaceX and Tesla technology to create something that's not even really a car," <a target="_blank" class="" href="https://www.businessinsider.com/tesla-roadster-spacex-technology-elon-musk-interview-2024-3">Musk said in the interview</a>.Musk has made bold statements before about what upcoming vehicles will be capable of — not all of which have panned out. He once said the Cybertruck would be able to float and operate as a boat for short periods of time. It launched with the ability to wade through water up to 30 inches.On the Wednesday earnings call, Musk said the Roadster is "really going to be something spectacular."He said his "good friend" <a target="_blank" class="" href="https://www.businessinsider.com/who-is-peter-thiel-svb-facebook-trump-biography-2023-3">Peter Thiel</a> had lamented a lack of flying cars."Well, we'll see," Musk said. "More to come."

People paid $50,000 to reserve Tesla's new Roadster nearly 7 years ago. Its launch date remains a mystery.

<ul class="summary-list"><li>A London chef sparked online debate when he criticized diners who don't spend much.</li><li>"Restaurants are not public benches, " Hugh Corcoran said on Instagram, prompting praise and criticism.</li></ul>A London chef has sparked a debate about the affordability and culture of eating out after he criticized diners who don't spend enough.Hugh Corcoran, whose lunch spot opened last month and sits just 18 people, wrote on Instagram that it had become "apparently completely normal" for four people to order a starter, two main courses, and "a glass of tap water" between them."Restaurants are not public benches, you are there to spend some money," <a target="_blank" class="" href="https://www.instagram.com/p/DBvbM6bIV9n/?hl=en">he continued in the post, which gained more than 1,000 likes and 190 comments</a>. "Hear hear," wrote one commenter. Another asked: "How many people have the luxury of going out for a boozy lunch midweek?"Speaking to Business Insider, Corcoran said he was forced to turn away more convivial people because of diners who don't order much."It's not so much about the money, it's about the atmosphere and coming in with an attitude of 'we're here to enjoy ourselves,'" he said."It's not like we're struggling economically because of these people. It's maybe one or two people a week, but it's very frustrating for us," he added.In <a target="_blank" class="" href="https://www.instagram.com/p/DBx63hfIDPL/?hl=en">a follow-up Instagram post</a>, Corcoran argued that dining out is a luxury you should save up for, suggesting that people order "at least one plate per person and perhaps a few glasses of wine or a dessert," spending between £40 and £100 — about $50 and $130 — per head.Corcoran told BI his restaurant, The Yellow Bittern, was "a place for gourmands, lovers of wine and food, to come and enjoy themselves rather than somewhere just to have a quick lunch." Payment is by cash only — rare in card-friendly London — and reservations can only be made in person, by phone, or by postcard.<a target="_blank" class="" href="https://www.standard.co.uk/going-out/restaurants/the-yellow-bittern-london-restaurant-review-drinking-b1191006.html">One positive review</a> compared the experience to going "for lunch in 1982." The site includes a bookshop. Corcoran runs the establishment with a magazine editor and a bookseller.James Hacon, a restaurant consultant and industry commentator, told BI that life is tough for London eateries right now."Restaurants are already on a knife edge anyway at this point," he said. "There's very few people making anything meaningful in terms of profit in the restaurant industry."Recovering from the COVID-19 pandemic and the impact of inflation on food costs have taken a hit, he said.The hospitality industry is also dealing with minimum wage increases as well as preparing for a recently-announced increase to National Insurance — a UK earnings tax — Hacon added.In a joint letter to the UK government, more than 200 hospitality bosses said the increase would mean job losses and raised prices, even though diners can't afford them, <a target="_blank" class="" href="https://www.theguardian.com/business/2024/nov/10/nics-rise-will-force-businesses-to-close-warn-hospitality-bosses">The Guardian reported Sunday</a>.Some restaurants have <a target="_blank" class="" href="https://www.businessinsider.com/french-restaurants-reportedly-requiring-diners-spend-5000-2023-8">insisted on large minimum spends,</a> while others have been <a target="_blank" class="" href="https://www.businessinsider.com/resy-sevenrooms-premium-restaurant-experiences-reserved-for-high-paying-diners-2023-5">using data from booking sites</a> to prioritize big spenders.Hacon said there were ways to overcome the impact of diners who only want a starter and water.He gave examples like set menus, insisting on a minimum spend for larger groups, and offering opportunities for diners to "trade up" to fancier plates and wines once they're through the door."When the sun shines, it's time to make hay," he said.

A London chef criticized diners who just get water and share dishes. He says it's about the atmosphere, not the money.

Union Minister <keyword id="20150028" type="General" weightage="20" keywordseo="Chirag-Paswan" source="keywords">Chirag Paswan</keyword> expressed his disagreement with the <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords" meta.keywordsubtype="org" meta.entityname="Supreme Court" meta.hostid="261" meta.entityid="Supreme Court">Supreme Court</keyword>'s observation on <keyword id="22418374" type="General" weightage="20" keywordseo="creamy-layer" source="keywords">creamy layer</keyword> among Scheduled Castes and Scheduled Tribes, and said that the <keyword id="22663720" type="General" weightage="20" keywordseo="Lok-Jandhakti-Party" source="keywords" meta.keywordsubtype="org" meta.entityname="Lok Jandhakti Party" meta.hostid="261" meta.entityid="Lok Jandhakti Party">Lok Jandhakti Party</keyword> (Ram Vilas) will be filing a review peition against the ruling. Emphasising that <keyword id="20053971" type="General" weightage="20" keywordseo="Dalit" source="keywords">Dalit</keyword> people in various spheres of life still face <keyword id="21301343" type="General" weightage="20" keywordseo="untouchability" source="keywords">untouchability</keyword>, Paswan said that the basis of giving <keyword id="19914887" type="General" weightage="20" keywordseo="reservation" source="keywords">reservation</keyword> to Scheduled Caste is 'untouchability,' so there is no point of creamy layer in it. "We disagree with the observation of the Supreme Court and we have registered this disagreement prominently. We are clear about this that the base of the Scheduled Caste is untouchability. It does not have an educational or economic basis. In such a situation, there can be no provision of creamy layer in it, reservation within the reservation is not correct, because even today the example of a Dalit youth is given who is prevented from riding a mare," Chirag Paswan told reporters on Sunday. "There are many such big names, who are on high posts, but even after they go to the temple, the temple is washed with Ganga water, so even today discrimination takes place based on untouchability... We, LJP (Ram Vilas) are also going to file a <keyword id="20143564" type="General" weightage="20" keywordseo="review-petition" source="keywords">review petition</keyword> in the Supreme Court regarding this matter," he added. The Supreme Court, in a landmark ruling on Thursday, ruled that states have the power to sub-classify SCs and STs and said that the authority concerned, while deciding if the class is adequately represented, must calculate adequacy based on effective and not quantitative representation. The top court ruled by a majority judgement of 6:1, that sub-classification within the SCs and STs reservation is permissible. As many as six separate opinions were delivered in the case. The judgement was delivered by the seven-judge bench led by Chief Justice of India DY Chandrachud, which overruled earlier judgement in the EV Chinnaiah matter, which had held that sub-classification was not permissible because SC/STs form homogenous classes. Besides CJI Chandrachud, other judges on the bench were Justices BR Gavai, Vikram Nath, Bela M Trivedi, Pankaj Mithal, Manoj Misra, and Satish Chandra Sharma. Justice Bela M. Trivedi, in a dissenting opinion, said that she disagreed with the majority judgement that sub-classification within the Scheduled Caste and Scheduled Tribes is permissible.

We will file review petition against top court's verdict on SC/ST subclassification: Chirag Paswan

The Reserve Bank's FI, or <keyword id="20377974" type="General" weightage="100" keywordseo="financial-inclusion" source="keywords">financial inclusion</keyword> index, which captures the extent of financial inclusion across the country, rose to 64.2 in March 2024, marking growth across all parameters. The index captures information on various aspects of financial inclusion in a single value ranging between 0 and 100, where 0 represents complete financial exclusion and 100 indicates full financial inclusion. "The value of the index for March 2024 stands at 64.2 vis-a-vis 60.1 in March 2023, with growth witnessed across all sub-indices," the Reserve Bank of India (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>) said in a statement today. During FY23, the FI Index stood at 60.1. Improvement in <keyword id="18794777" type="General" weightage="20" keywordseo="FI-Index" source="Orion">FI-Index</keyword> is mainly contributed by usage dimension, which further reflects deepening of financial inclusion, it added. The FI-Index comprises three broad parameters -access, which has a 35% weightage, usage, which has a 45% weight and quality, which has a 20% weight. Each of these parameters further consist of various dimensions, which are computed based on a total of 97 indicators. Breaking these parameters ahead, access is made up of 26 indicators, which capture the number of banking outlets NBFCs, and post offices, total number of <keyword id="25450" type="General" weightage="20" keywordseo="savings" source="Orion">savings</keyword> accounts (including small savings), <keyword id="22348444" type="General" weightage="20" keywordseo="electronic-payment-infrastructure" source="Orion">electronic payment infrastructure</keyword> and more. Usage comprises 52 indicators, which aims to capture the demand side, and is essentially a barometer for understanding how actively financial infrastructure is being utilized in our country by way of savings, <keyword id="6355120" type="General" weightage="20" keywordseo="investment" source="Orion">investment</keyword>, <keyword id="35450" type="General" weightage="20" keywordseo="insurance" source="Orion">insurance</keyword>, availing of credit and remittance facilities, etc. And lastly, quality, which consists of 19 indicators, takes into account the efficacy of existing grievance redressal mechanisms and awareness efforts undertaken by stakeholders and more. In August 2021, the central bank said FI-Index has been conceptualized as a comprehensive index, incorporating details of banking, investments, insurance, postal, as well as the pension sector, in consultation with government and respective sectoral regulators. The index is responsive to ease of access, availability and usage of services, and quality of services. According to RBI, a unique feature of the index is the quality parameter which captures the quality aspect of financial inclusion as reflected by financial literacy, consumer protection and inequalities and deficiencies in services. <h2> India added 4.7 crore jobs in 2023-24, says RBI</h2>In another significant data release during the day, the apex bank of the country noted that India added nearly 4.7 crore jobs during 2023-24, taking the total number of employed people to 64.33 crore, which are spread over 27 sectors covering the entire economy. The number of employed people was 59.67 crore at the end of March 2023, as per the RBI's update on 'Measuring Productivity at the Industry Level-The India KLEMS [Capital (K), Labour (L), Energy (E), Material (M) and Services (S)] Database'. The bank said the annual growth in employment during 2023-24 was 6% compared to 3.2% in the year-ago period. In the last five years, <keyword id="22348445" type="General" weightage="20" keywordseo="The-India-KLEMS" source="Orion">the India KLEMS</keyword> database revealed that total employment increased from 53.44 crore in 2019-20 to 64.33 crore during the previous fiscal. The data for financial 2022-23 is a provisional estimate of productivity for the total economy. The 'agriculture, hunting, forestry and fishing' employed 25.3 crore individuals, up from 24.82 crore in 2021-22, the fiscal 2022-23 data suggested. Construction, trade, and transport and storage were among the leading employment provider segments in 2022-23. Notably, for the purpose of this database, 27 industries are clubbed together to form 6 major sectors, namely <ul><li>Agriculture, Hunting, Forestry and Fishing</li><li>Mining and Quarrying</li><li>Manufacturing</li><li>Electricity, Gas and Water supply</li><li>Construction</li><li>Services</li></ul>

Rise seen in financial inclusion index, jobs in the country, notes RBI

<ul class="summary-list"><li>September's jobs data wildly exceeded consensus expectations, making a soft landing more likely.</li><li>254,000 new jobs were added, and unemployment numbers dipped.</li></ul>After much anticipation, the September jobs data finally arrived.The US <a target="_blank" href="https://www.businessinsider.com/labor-market-indicators-jobs-pre-pandemic-levels-healthy-goldman-sachs-2024-10">job market</a> blew past economists' predictions, with total nonfarm payrolls increasing by 254,000 last month — over 100,000 more jobs than expected. The unemployment rate dropped to 4.1% from 4.2% in August.This optimistic data broke the streak of lackluster job growth that the US economy experienced in July and August.It is now looking more likely that the Federal Reserve pulled off a soft landing by raising interest rates to slow inflation without damaging the labor market to the point of a recession. With this in mind, how can investors allocate their money accordingly? Below, we've compiled four Wall Street expert opinions on the state of the labor market and the overall economy.<h2 id="094ff575-c21c-471f-b99a-81029f60f592">Liz Ann Sonders, chief investment strategist, Charles Schwab</h2>The headline number may be eye-catching, but Sonders believes some of the other data points are more telling about the overall economy.Don't expect a uniform economic recovery, according to Sonders. Strength in services hiring is offsetting weakness in manufacturing. Sonders highlights healthcare and government in particular as areas with strong hiring trends in the last few months. According to her, the manufacturing sector is going through a recession, as indicated by continued contraction of the ISM manufacturing index.The sectors that added the most jobs included food services, healthcare, government, social assistance, and construction. On the other hand, manufacturing jobs fell by 7,000.Rate-sensitive parts of the market, such as utilities, financials, and real estate investment trusts (REITs) should perform well going forward, according to Sonders.Sonders believes there'll be a long road back to normal. Even though the Fed has begun its monetary easing campaign, it's too early to assume that a recession has been averted."You still want to stay up in quality," Sonders said. Investors should focus on company profitability and look for strong balance sheets, free cash flow, and return on equity. These characteristics will help quality companies weather continued economic choppiness.<h2 id="43456a77-78b6-4392-8988-d9de56be49b6">Jeffrey Roach, chief economist, LPL Financial</h2>With a stronger-than-expected jobs report, there's no need for the Fed to initiate another aggressive 50 basis point cut, according to Roach.The individual consumer is holding up well. Layoffs have remained low for the last three months, and wage growth has been robust, which means that households have been able to absorb some of the effects of higher inflation, Roach said. Average hourly earnings increased by 0.4% in September and are up 4% year-over-year, indicating a continued increase in real purchasing power.If you have cash on the sidelines, hold off investing in equities for now, Roach recommends. He expects volatility to remain heightened going into the election and believes there will be better entry points to the stock market later on.Now is the time to continue taking advantage of higher rates on money market funds and short-term bonds before they fall going into next year, Roach added. He expects 100 basis points of rate cuts within the next year. Roach highlights preferred securities in particular. Preferred securities can reduce portfolio volatility, provide income, and reduce interest rate risk.<h2 id="5712c1e1-74cb-4f8e-bece-77e716de5e93">Lisa Shalett, chief investment officer, Morgan Stanley Wealth Management</h2>The labor market is receiving a bump from corporate America's strong earnings and balance sheets, according to Shalett."This has been a market where companies have been willing to hold on to employees and not panic," Shalett said.The decrease in the unemployment rate in September and the continued trend of muted layoffs are positive signs that companies are doing well. There's no need for the Fed to cut rates aggressively going forward, in Shalett's opinion.Shalett recommends investors continue looking for value across the whole market, focusing on quality companies as the market broadens. She doesn't think the economy has strengthened enough for small-caps to take off yet, but mid-caps are a good investment opportunity as a soft landing becomes more likely. Investing in the <a target="_blank" href="https://www.businessinsider.com/spy-voo-sp500-equal-weight-index-market-broadening-big-tech-2024-9">equal-weighted market index</a> will give investors more exposure to non-tech companies. And now that rates are slowly but steadily decreasing, Shalett recommends moving up the yield curve through investment-grade bonds with a duration of four to six years.<h2 id="6ba657a2-36b2-4b04-b903-711850ce3e8d">Chris Zaccarelli, chief investment officer, Independent Advisor Alliance</h2>The job market is showing signs of strengthening with the September data."This should put to rest — at least for the next month — the idea that the economy is about to fall off a cliff or that imminent doom is on the horizon," Zaccarelli wrote in an email.Investors have reason to be optimistic, but they shouldn't focus too much on a single data point, cautions Zaccarelli. One phenomenal report doesn't mean the economy is completely recovered, just like how one or two lower-than-expected reports don't signal recession.With that being said, the current environment presents many opportunities to invest in equities, according to Zaccarelli. He favors areas such as industrials and materials. If the economy doesn't fall into recession, which seems increasingly likely after this jobs report, Zaccarelli believes these cyclical areas of the market will outperform."Recession fears are elevated, and we think those are underpriced, underappreciated parts of the market," Zaccarelli said.

4 market experts share 10 places to invest your money after September's jobs data blew expectations out of the water

<ul class="summary-list"><li>Andrew Halter delivers water 1,200 miles by rail to the Navajo Nation from Mississippi.</li><li>Navajo Nation residents struggle with water scarcity, with 30% lacking reliable drinking water.</li></ul>Andrew Halter had been in the railroad business for 25 years, mostly in middle management roles. It was his dream job and all he ever wanted to do.But when the world shut down in 2020, and he got laid off, he needed to figure something else out."It came to me one day like a clap of thunder," Halter, who is based in Pennsylvania, told Business Insider.Halter and his brother had long talked about the possibility of using rail to help alleviate the water crisis in the Navajo Nation. His brother, Chris Halter, runs the <a target="_blank" href="https://www.stbonaventuremission.org">St. Bonaventure Indian Mission and School</a>, located on the southeastern edge of the reservation, which spans more than 27,000 square miles across parts of Arizona, New Mexico, and Utah.Nearly a third of <a target="_blank" href="https://nndwr.navajo-nsn.gov/">Navajo Nation</a> residents do not have access to reliable, clean drinking water, according to the tribe. The estimated population was over 165,000 in 2020, according to <a target="_blank" href="https://data.census.gov/profile/Navajo_Nation_Reservation_and_Off-Reservation_Trust_Land,_AZ--NM--UT?g=2500000US2430">census data</a>.The mission was already delivering water via trucks to 250 families, a small portion of the Navajo who are water-scarce. The families receive about 40 gallons of water a day, far less than the 300 gallons the average American family uses. The mission has relied on a local well to get the water, but if something happened to it, all those families would be without any water virtually overnight."To be honest, it was always the thing that would wake me up in the middle of the night," Chris Halter told BI. "If that well shuts down for some reason, what would I do next?"Now, Halter's company, <a target="_blank" href="https://jacobswell8.godaddysites.com">Jacob's Well</a>, in partnership with the mission, delivers thousands of gallons of water each month from Mississippi to the Navajo Nation via the BNSF Railway. The water-by-rail served as a lifeline in 2022 when the well had to undergo repairs that lasted months.The operation has grown quickly, and Halter is focused on expanding, both to provide more water to the Navajo Nation but also potentially to other places in the West, where dried up rivers and reservoirs are leaving communities increasingly desperate for solutions.<div type="image" title="Tank car" height="2049" width="3209" msid="110505100" hostid="261"></div><h2 id="a684fd17-93b4-488f-a009-a0f311e3306b">Some thought the water-by-rail idea was crazy</h2>When Halter first started calling railroads about transporting drinkable water, some thought the idea was crazy.He finally got in touch with Eunice Sun at BNSF, who currently serves as the business development manager of emerging markets."We haven't moved potable water prior to this opportunity, really, because the economics don't necessarily pencil out in order to pay for that water and pay for the transport," Sun told BI. But when Halter came to her, she said he did a great job communicating his vision and business plan.Halter said right now they can transport water, depending on fuel prices and other fluctuating costs, for around 38 cents a gallon. Currently, those costs are covered almost entirely by private donations to the mission. However, as the operation scales up and he transports more tank cars of water, those costs could come down.Getting a public utility to sell him hundreds of thousands of gallons of water per month was another story. "A lot of times, they think you're crazy," Halter said. Still, they were able to work out a deal with the water department of Helena, Mississippi, where Jacob's Well collects its water before it travels 1,200 miles by rail to the southwest.Once it arrives, the Navajo families can pick up water from the mission or have it delivered to their homes, just as the well water is.Originally, Halter said he couldn't even find information about how the water would travel, and it took a lot of testing before and after transport to ensure the supply stayed safe to drink."We've kind of had to wing it and make up our own rules as we go along and figure some things out the hard way, which we did," he said.It took around eight months from when Halter first contacted BNSF for the first shipment to go out, and the operation has only grown since. Halter said they currently average around two tank cars a month, which each hold 21,000 gallons of water, but the operation is capable of delivering 200,000 gallons a month if needed.They sent half a million gallons of water total in 2023. He's hoping to reach 2 million this year.<div type="image" title="Water truck" height="400" width="600" msid="110505104" hostid="261"></div><h2 id="b3ba473f-e5dc-4635-868b-ff5aed905355">Emergency water supply and the water crisis</h2>It's unclear at this point how scalable or economically feasible water-by-rail will be in other places, but those involved are hopeful.Chris Halter said he's currently conducting a study that he hopes will show the project has had a sound return on investment so that he can show tribal, local, and state governments that this is a feasible option.Sun said expanding Jacob's Well wouldn't come without growing pains, but that BNSF is happy to help support the project's growth. "It tugs at your heartstrings," she said, adding that it's not often she gets to work on a project that has such a direct positive impact on a local community.Halter sees water-by-rail as something that could fill a serious need in all sorts of situations, from communities whose wells run dry to natural disasters. He's already been in touch with the state of New Mexico and FEMA. He's hopeful that rail will be among the solutions that help alleviate the broader water crisis.After getting a severe case of COVID-19, Halter lost the use of his right hand and was not able to go back to work on the railroad, so he now runs Jacob's Well full time."It's become a driving mission to give these people water," he said. "I want to be able to provide people with water at the lowest cost possible, and I want it to make enough money to support itself, but I don't need to get wealthy on it."For now the operation is run on donations, but they're hoping they can get grant money or other public funds to help support it in the future."Water is a human right," Halter said. "And they should be able to have it."Have a news tip or a story to share? Contact this reporter at <a target="_blank" href="mailto:kvlamis@businessinsider.com">kvlamis@businessinsider.com</a>.

A railroad worker figured out how to send thousands of gallons of drinking water by rail from Mississippi to the Navajo Nation to alleviate the water crisis

<ul class="summary-list"><li><a target="_blank" href="https://www.businessinsider.com/hydrogen-energy-help-climate-crisis-but-still-hurdles-2023-10">Clean hydrogen fuel</a> may occur naturally in large underground reservoirs across the planet.</li><li>Big companies, startups, and the US government are all trying to tap into this carbon-free fuel.</li></ul>Believe it or not, drilling for a certain type of gas could open up a new world of <a target="_blank" href="https://www.businessinsider.com/white-hydrogen-france-clean-energy-climate-change-2023-10">clean energy</a>.Trillions of tons of lightweight, energy-dense hydrogen gas may be hidden deep underground. Those natural reservoirs, known as geologic hydrogen, could be a fruitful <a target="_blank" href="https://www.businessinsider.com/us-first-commercial-carbon-capture-facility-opens-2023-11">carbon-free fuel</a> source.Geologic hydrogen is so promising that <a target="_blank" href="https://www.businessinsider.com/bill-gates-wealth-donations-charity-foundation-worlds-richest-people-list-2022-7">Bill Gates</a>, Amazon, and United Airlines are just some of the funders behind a startup called Koloma, which thinks it can tap into those reserves. Oil and gas giants BP and Chevron have joined a consortium to study geologic hydrogen. Even the US Senate Energy and Natural Resources Committee is interested. It held a hearing on the subject last week."The vast majority of the in-place hydrogen is likely to be in accumulations that are too deep, too far <a target="_blank" href="https://www.businessinsider.com/china-powers-on-16-megawatt-offshore-wind-turbine-taiwan-strait-2023-7">offshore</a>, or too small to ever be economically recovered," Geoffrey Ellis, a USGS geologist, said in the February 28 hearing. "However, if even a small fraction of this amount could be recovered, that would constitute a significant resource."<div type="image" title="hydrogen power plant with tall stacks emitting steam clouds into a blue sky" height="1500" width="2242" msid="108310178" hostid="261"></div>Hydrogen burns clean, but manufacturing it takes a lot of energy and expense, and even <a target="_blank" href="https://www.businessinsider.com/urban-farming-gardening-carbon-footpring-study-produce-2024-2">creates carbon dioxide</a>. Still, it's a key pillar of President Joe Biden's clean-energy strategy, which is pumping $7 billion into seven hydrogen hubs across the country.Drawing from natural reservoirs of hydrogen would be much cleaner — if it's worth the <a target="_blank" href="https://www.businessinsider.com/biden-approval-alaska-drilling-could-be-big-oils-last-surge-2023-3">drilling</a>.<h2>A hydrogen gold rush is beginning</h2>It's a relatively new prospect. In fact, scientists didn't believe it was possible for large amounts of hydrogen to accumulate underground until about 12 years ago, according to Ellis, who leads USGS efforts to map the world's potential reserves of underground hydrogen.That's when an <a target="_blank" href="https://www.businessinsider.com/fossil-fuel-companies-spend-millions-to-promote-individual-responsibility-2021-3">oil and gas company</a> assessed a mine that had exploded in Mali and found it was full of hydrogen gas.Hydrogen forms deep underground when water reacts with iron-rich rock. In the US, two long stretches of this rock are a promising place to look for hydrogen reserves, and efforts are already underway.One stretch runs from Kansas up to Ontario, then down to Michigan. The other is offshore, running the length of New Jersey to Georgia, according to Ellis. USGS started looking for these reserves in 2021 and has drilled several wells, with more planned this year.Ellis told the Senate committee that research is also ongoing in France and Australia, and active exploration efforts are underway in Brazil and Colombia. In February, researchers announced they had discovered a <a target="_blank" href="https://www.businessinsider.com/researchers-discover-albanian-mine-could-be-hydrogen-source-2024-3">hydrogen reservoir in a mine in Albania</a>.<div type="image" title="Bulqizë chromite mine" height="396" width="594" msid="108310180" hostid="261"></div>"Companies exploring for geologic hydrogen use many of the same technologies that are used in the oil and gas industry," Senator John Barrasso (R-WY) said in the hearing. "In fact, many of the people exploring for hydrogen today spent their careers exploring for oil and gas."It's still unclear how much hydrogen is out there, or how much it will cost to extract it. So the DOE's Advanced Research Projects Agency-Energy is doling out $20 million in grants to fund research on the subject, including the possibility of artificially stimulating the natural process that makes hydrogen underground."If our programs show success, this new source of hydrogen could lower energy costs and increase our nation's energy security and supply chains," Evelyn N. Wang, director of ARPA-E, told the Senate committee.Even so, the fuel would face some of the same challenges as <a target="_blank" href="https://www.businessinsider.com/what-is-hydrogen-fuel-industry-explainer-2020-1">manufactured hydrogen</a>. There may not be enough infrastructure to transport it far and wide. In the process, any hydrogen that leaks into the atmosphere would react with other compounds to cause the atmosphere to trap more heat. That could cancel out hydrogen's climate advantage over fossil fuels."Nobody has all the answers today," Koloma CEO and cofounder Pete Johnson told the Senate committee. "But the early data looks very promising and I believe that geologic hydrogen can play a very large role as we work to decarbonize the US energy economy."

Vast reserves of clean hydrogen fuel could be hiding beneath our feet

<ul class="summary-list"><li>US futures were flat ahead of Tuesday's opening bell after a lackluster start to the week.</li><li>Equities dropped on Monday as investors turned to risk-averse assets amid geopolitical tensions.</li></ul>US futures were little changed on Tuesday morning after a losing start to the week for all three major indices on Monday as investors worried about the Israel-Iran conflict.<a href="https://markets.businessinsider.com/futures/s&amp;p-500-futures?utm_medium=ingest&amp;utm_source=markets" rel="">S&amp;P 500 futures</a> were trading flat shortly before 5 a.m. ET. <a href="https://markets.businessinsider.com/futures/nasdaq-100-futures?utm_medium=ingest&amp;utm_source=markets" rel="">Nasdaq 100 futures</a> were also level, while <a href="https://markets.businessinsider.com/futures/dow-futures?utm_medium=ingest&amp;utm_source=markets" rel="">Dow Jones Industrial Average futures</a> fell 0.1%. US equities suffered setbacks across the board on Monday. The Dow marked its sixth consecutive losing day, dropping 248 points or 0.65%. The S&amp;P 500 dropped 1.2%, while the Nasdaq Composite slid below its 50-day moving average for the first time since November, losing 1.79%.The benchmark <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_medium=ingest&amp;utm_source=markets" rel="">10-year Treasury yield</a> remained level overnight, remaining near its highest level in five months. The combination of solid retail sales data and the risk-off nature of the Israel-Iran conflict saw yields on treasuries advance three basis points the previous day.The <a href="https://markets.businessinsider.com/index/us-dollar-index?utm_medium=ingest&amp;utm_source=markets" rel="">US Dollar Index</a>, which measures the greenback's strength against six other currencies, rose by 0.1% overnight, also keeping level with solid gains on Monday.Elsewhere, the release of strong <a href="https://markets.businessinsider.com/news/etf/retail-sales-rises-more-than-expected-in-march-indicate-strong-consumer-spending-1033249173#:~:text=March%20Retail%20Sales%20Report%3A%20Key,topping%20the%20expected%200.3%25%20rise.">March retail sales</a> data on Monday signaled the resilience of the US economy, but also pushed back chances that the Fed will cut interest rates in June. September is considered to be the most likely point at which the Fed will act. Traders will be looking to a series of talks from key figures at the Federal Reserve, including Chair Jerome Powell and Vice Chair Philip Jefferson, for a clearer indication.Also coming on Tuesday, the IMF will be publishing its latest World Economic Outlook, while major banks releasing quarterly earnings today include <a href="https://markets.businessinsider.com/stocks/bac-stock">Bank of America</a> and <a href="https://markets.businessinsider.com/stocks/ms-stock">Morgan Stanley</a>.<a href="https://markets.businessinsider.com/stocks/unh-stock">United Health</a> and <a href="https://markets.businessinsider.com/stocks/jnj-stock">Johnson &amp; Johnson</a> are also expected to announce earnings.

Stock market today: US futures tread water as Wall Street remains cautious

<ul class="summary-list"><li>US stocks were set to open flat at Friday's opening bell. </li><li>Markets closed lower Thursday after another inflation measure came in hotter than expected. </li></ul>US futures were muted after another round of hotter-than-expected inflation data gave the Federal Reserve more reason to delay cutting interest rates. <a href="https://markets.businessinsider.com/futures/s&amp;p-500-futures?utm_medium=ingest&amp;utm_source=markets">S&amp;P 500 futures</a> were up 0.11% and <a href="https://markets.businessinsider.com/futures/dow-futures?utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average futures</a> gained 0.13% shortly before 6 a.m. ET. <a href="https://markets.businessinsider.com/futures/nasdaq-100-futures?utm_medium=ingest&amp;utm_source=markets">Nasdaq 100 futures</a> traded flat ahead of the bell after the tech-focused index closed lower on Thursday. The <a href="https://markets.businessinsider.com/index/us-dollar-index?utm_medium=ingest&amp;utm_source=markets" rel="">US Dollar Index</a>, which measures the greenback's strength against six other currencies, was up 0.11%.Yields on <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_medium=ingest&amp;utm_source=markets" rel="">10-year US Treasurys</a> were flat after a dramatic bond sell-off in response to the inflation outlook sent yields up 4.3% on Thursday.PPI numbers showed that US producer prices were <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-indexes-inflation-retail-economic-data-sales-2024-3">rising faster than expected</a>. Combined with Tuesday's hotter-than-expected CPI data and rising oil prices, investors' hopes for a June rate cut are looking increasingly shaky. Rates are expected to remain unchanged at next week's Fed meeting. Stocks fell following the news, with tech shares, which are more sensitive to rate expectations, stumbling the most. Tesla and Nvidia both lost ground, dropping by 4.1% and 3.4% respectively."With less than a week to go until the next meeting of US central bankers, markets are having to face up to the prospect that the path to a pivot will be a long and winding one," said Danni Hewson, head of financial analysis at AJ Bell.US industrial production and capacity utilization for February are released later, along with the preliminary University of Michigan consumer sentiment index and the Empire State manufacturing survey for March. Manufacturing company <a href="https://markets.businessinsider.com/stocks/jbl-stock">Jabil</a> is set to report earnings.

Stock market today: US futures tread water after more hotter-than-expected inflation

<ul class="summary-list"><li>US Treasury Secretary Janet Yellen warns that China's big industrial-production push could destabilize the global economy.</li><li>China's growing clean energy industry has oversupplied markets with cheap solar panels and EVs, she said in prepared comments that will be delivered on Wednesday.</li></ul>China is flooding markets with a lot of cheap green energy products, and Treasury Secretary Janet Yellen is concerned about what it means for the global economy.Yellen is set to speak at the Suniva solar cell factory in Norcross, Georgia on Wednesday, where she is expected to address concerns about China's export strategy."China's overcapacity distorts global prices and production patterns and hurts American firms and workers, as well as firms and workers around the world," a copy of Yellen's remarks <a href="https://www.nytimes.com/2024/03/27/business/yellen-china-green-technology.html#:~:text=At%20the%20Suniva%20solar%20cell,by%20The%20New%20York%20Times">reviewed</a> by the New York Times said. "Challenges for individual firms can lead to concentrated supply chains, negatively impacting global economic resilience."After suffering a sweeping property crisis, China is jump-starting its trying to jumpstart its economy with a strong industrial push, incentivizing <a href="https://www.businessinsider.com/us-inflation-outlook-china-economy-crash-stimulus-package-manufacturing-investment-2024-3">investment in the manufacturing sector.</a> And that policy shift includes a focus on clean energy. A recent report from the New York Federal Reserve shows the country is seeing a notable redistribution of credit, with a swift rise in new "green loans."Last year, China's ballooning clean energy industry contributed to <a href="https://markets.businessinsider.com/news/stocks/china-economy-slowdown-gdp-real-estate-crash-crisis-clean-energy-2024-1">40% of the country's economic growth.</a>But that comes with consequences. Yellen's remarks warn that this is history repeating itself, like when China overinvested in steel and aluminum, which promoted economic growth in the country but forced the industry in the rest of the world to contract.This trend has already been manifesting in markets like that for solar panels. <a href="https://markets.businessinsider.com/news/commodities/solar-panel-oversupply-prices-iea-renewables-production-green-transitions-inventory-2024-1">Solar panel prices have plunged</a> 50% because of a substantial oversupply. In Europe, <a href="https://markets.businessinsider.com/news/stocks/solar-panel-oversupply-price-crash-europe-production-plant-meyer-burger-2024-1?mrfhud=true">a glut of Chinese imports have pushed</a> one of their largest solar module production sites to close. According to the IEA, China is set to account for 85% of the expansion of solar-module manufacturing capacity by 2028. "It is important to the president and me that American firms and workers can compete on a level playing field," the excerpts reportedly said. "We have raised overcapacity in previous discussions with China, and I plan to make it a key issue in discussions during my next trip there."

China's industrial push risks destabilizing the global economy and watering down green-energy exports, Janet Yellen warns

<ul class="summary-list"><li>Chinese stocks surged Tuesday, with market regulators expected to meet with Xi Jinping.</li><li>Meanwhile, US futures traded mixed ahead of the opening bell.</li></ul>China's beaten-down stocks were the big movers on global markets Tuesday as benchmark indexes rebounded on speculation that Beijing could step up its efforts to address a recent market rout.The <a href="https://markets.businessinsider.com/index/csi-300">CSI 300</a> gauge of mainland equities was up more than 3% by the closing bell, while Hong Kong's <a href="https://markets.businessinsider.com/index/hang_seng">Hang Seng</a> surged 4% in its final hour of trading after <a href="https://www.bloomberg.com/news/articles/2024-02-06/xi-set-to-discuss-china-stock-market-with-financial-regulators" target="_blank" rel="noopener">Bloomberg</a> reported that regulators are set to meet with president Xi Jinping.Meanwhile, US futures traded mixed after <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-january-ism-jerome-powell-comments-inflation-2024-2">falling Monday</a> as investors grappled with a <a href="https://www.businessinsider.com/jobs-labor-market-unemployment-rate-wage-growth-january-economy-2024-2">blowout January jobs report</a> and Federal Reserve chair Jerome Powell signaling that the central bank only plans to cut interest rates three times this year.The<a href="https://markets.businessinsider.com/futures/s&amp;p-500-futures"> S&amp;P 500</a> and <a href="https://markets.businessinsider.com/futures/dow-futures">Dow Jones Industrial Average futures</a> were down 0.1% at 6 a.m. ET, while <a href="https://markets.businessinsider.com/futures/nasdaq-100-futures">Nasdaq futures</a> rose by the same amount. Yields on <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years">10-year Treasury notes</a> dropped 2 basis points.Investors await fourth-quarter earnings reports from pharma giant <a href="https://markets.businessinsider.com/stocks/lly-stock">Eli Lilly</a>, carmaker <a href="https://markets.businessinsider.com/stocks/f-stock">Ford</a>, and social-media company <a href="https://markets.businessinsider.com/stocks/snap-stock">Snap</a>, which started <a href="https://www.businessinsider.com/snap-new-layoffs-hit-content-moderation-dei-roles-2024-2">laying off workers</a> Friday in the latest tech industry cull.Regional Fed presidents including Cleveland's Loretta Mester and Philadelphia's Patrick Harker are also set to give speeches Tuesday, which could give investors more of a clue about the approach policymakers are taking on interest rates.

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