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Bengaluru: Last week, <keyword id="19902762" type="General" weightage="100" keywordseo="Google" source="keywords" meta.keywordsubtype="org" meta.entityname="Google" meta.hostid="265" meta.entityid="Google">Google</keyword> unveiled a series of new AI-powered partnerships aimed at advancing healthcare, <keyword id="19895783" type="General" weightage="20" keywordseo="sustainability" source="keywords">sustainability</keyword>, and agriculture in India The tech giant is collaborating with both local and international organisations to implement AI-driven solutions in <keyword id="21690244" type="General" weightage="20" keywordseo="diabetic-retinopathy" source="keywords">diabetic retinopathy</keyword> screening, urban waste management, and agricultural development. According to Google, these announcements were made during a roundtable in Bengaluru, marking the fifth anniversary of Google's Research Lab in the city. This follows the 10th edition of the Google for India event, which showcased the potential of AI to benefit individuals, businesses, and society at large. Dr Manish Gupta, Research Director of Google DeepMind, stated, "Collaborating with key Indian organisations, our focused research in India across language understanding, healthcare, agriculture, and sustainability is helping tackle many of the country's unique challenges and creating AI-led solutions that will improve billions of lives." Google is working with <keyword id="23588208" type="General" weightage="20" keywordseo="Forus-Health" source="keywords" meta.keywordsubtype="org" meta.entityname="Forus Health" meta.hostid="265" meta.entityid="Forus Health">Forus Health</keyword> and AuroLab in India and Perceptra in Thailand to provide 6 million AI-assisted screenings for diabetic retinopathy over the next decade. These screenings aim to detect and prevent blindness in diabetic patients, particularly in resource-limited communities. The AI model has already supported over 600,000 screenings worldwide, with initial research and deployment carried out in India. Sunny Virmani, Group Product Manager, Health AI Research at Google, remarked, "From our initial research to the first patient screening in Madurai, India, we've been committed to translating AI's potential into meaningful change for people globally. And now the partnerships with Forus Health, AuroLab, and Perceptra are helping us expand on this commitment, as a global network of innovators comes together to eradicate preventable blindness due to diabetic retinopathy." Google's CircularNet, an AI-driven computer vision model for waste management, is being deployed in partnership with Bengaluru-based Saahas Zero Waste. CircularNet helps identify and sort plastic waste, facilitating recycling and reducing the strain on landfills. Powered by Google's TensorFlow, the model has shown approximately 85% accuracy in detecting plastic waste during a pilot programme, potentially boosting revenue for material recovery facilities by 10-12%. To support data-driven decision-making in agriculture, Google is also opening its Agricultural Landscape Understanding (ALU) Research API to developers. The API leverages satellite imagery and machine learning to provide farm-level insights, such as field boundaries, water bodies, and vegetation. The technology aims to optimise resource allocation and guide sustainable farming practices in India. (ANI)

Google announces AI-led collaborations for India's health, sustainability, and agriculture sectors

The pre-budget <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords" meta.keywordsubtype="org" meta.entityname="Economic Survey" meta.hostid="261" meta.entityid="Economic Survey">Economic Survey</keyword> on Monday called for urgent reforms in India's <keyword id="19915424" type="General" weightage="20" keywordseo="agricultural-sector" source="keywords">agricultural sector</keyword>, warning that the structural issues could impede the country's overall <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword> trajectory. The survey, tabled in Parliament by Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword>, highlighted the untapped potential of the <keyword id="20682012" type="General" weightage="20" keywordseo="Indian-agriculture" source="keywords">Indian agriculture</keyword> sector compared to other economies. Chief Economic Advisor V Anantha Nageswaran called for a pan-India dialogue on the agriculture sector. The survey, presented ahead of the annual budget, emphasised that India has yet to fully leverage its agricultural sector for economic growth and job creation, unlike East Asian economies and Western developed nations. "Indian agriculture is not in a crisis now but requires a serious <keyword id="20544318" type="General" weightage="20" keywordseo="structural-transformation" source="keywords">structural transformation</keyword> because climate change and water criticality loom large in the times to come," the survey stated. The CEA advocated for a reassessment of existing policies, despite current government subsidies and support measures for farmers. "The payoff will be immense if we untie the knots that bedevil farm sector policies," Nageswaran said in the survey's preface. While the government provides substantial support to farmers through subsidies on water, electricity, and fertilizers, along with income tax exemptions and minimum support prices, there is room for improvement in policy implementation, he added. The survey identified several key challenges, including balancing growth with food inflation management, improving price discovery, and addressing land fragmentation. To address these challenges, the survey recommends multi-pronged reforms, which include: upgrading agricultural technology, enhancing marketing avenues, adopting farming innovations, reducing input wastage, and improving the agriculture-industry linkages. The document stressed the need to shift focus from basic <keyword id="19992806" type="General" weightage="20" keywordseo="food-security" source="keywords">food security</keyword> to nutritional security, aligning with a 'demand-driven food system' that is both nutritious and environmentally sustainable. The survey suggested that policymakers must strike a delicate balance between incentivizing farmers to increase production and keeping food prices within acceptable limits. "This dual objective requires careful policy interventions." The survey also emphasized the need for a farmer-friendly policy framework to ensure markets function in farmers' interests. It recommended avoiding bans on futures or options markets at the first sign of price spikes; invoking bans only under exceptional circumstances; re-examining the inflation-targeting framework; increasing the total net irrigated area, and aligning farming practices with <keyword id="22505922" type="General" weightage="20" keywordseo="climate-considerations" source="keywords">climate considerations</keyword>. Looking ahead to 2047, the survey highlighted the potential of agriculture and allied sectors (horticulture, livestock, fisheries, dairy, and food processing) for sustained <keyword id="20268655" type="General" weightage="20" keywordseo="employment-generation" source="keywords">employment generation</keyword>. "To sustain growth for nearly a generation up to 2047 or more and to ensure that it makes people's lives better and fulfills their aspirations, bottom-up reforms are necessary," it noted. It suggested that India may need to reconsider the traditional development model of transitioning from agriculture to industry and services.

Economic Survey calls for urgent agricultural reforms; cites growth hurdles

The <keyword id="21572647" type="General" weightage="20" keywordseo="Indian-auto-retail-sector" source="keywords">Indian auto retail sector</keyword> recorded a robust 27 per cent year-on-year (YoY) growth for April 2024, according to Federation of Automobile Dealers Associations (<keyword id="20108734" type="General" weightage="20" keywordseo="FADA" source="keywords">FADA</keyword>) <keyword id="21572648" type="General" weightage="20" keywordseo="vehicle-retail-data" source="keywords">Vehicle Retail Data</keyword>. The report highlights positive market sentiments, driven by stable fuel prices, a positive monsoon outlook, festive demand, and the marriage season. According to FADA President Manish Raj Singhania, the <keyword id="19948209" type="General" weightage="20" keywordseo="two-wheeler" source="keywords">two-wheeler</keyword> (2W), three-wheeler (3W), <keyword id="20163833" type="General" weightage="20" keywordseo="passenger-vehicle" source="keywords">passenger vehicle</keyword> (PV), tractor (Trac), and <keyword id="20032571" type="General" weightage="20" keywordseo="commercial-vehicle" source="keywords">commercial vehicle</keyword> (CV) segments witnessed growth. Singhania said, "In April 2024, the Indian <keyword id="21572646" type="General" weightage="20" keywordseo="auto-retail-sector" source="keywords">Auto Retail sector</keyword> achieved a robust 27 per cent YoY growth. The two-wheeler (2W), three-wheeler (3W), passenger vehicle (PV), tractor (Trac) and commercial vehicle (CV) segments grew by 33 per cent, 9 per cent, 16 per cent, 1 per cent, and 2 per cent, respectively. While some attribute this growth to the shift in Navratri to April instead of March last year, the overall increase was significant. Comparing combined March and April 2024 with the same period last year shows a 14 per cent YoY growth for the entire industry." Singhania attributed this growth partly to the shift in Navratri to April from March last year, but noted that the overall increase was significant. When comparing combined March and April 2024 with the same period last year, the industry recorded a 14 per cent YoY growth. In the two-wheeler segment, significant growth was driven by improved supply and increasing demand for 125cc models. Positive market sentiments, supported by stable fuel prices and a favorable monsoon outlook, contributed to this rise. New model launches also played a role in driving growth, despite some delays in supply. The passenger vehicle category experienced double-digit YoY growth, aided by enhanced model availability and positive market sentiments, particularly around festive events like Navratri and Gudi Padwa. Despite strong bookings and customer flow, challenges such as high competition, excess supply, and discounting posed hurdles for sustained growth. Additionally, the lack of new models in some portfolios impacted market traction. The commercial vehicle segment showed a modest 2 per cent YoY growth and a 0.6 per cent month-on-month (MoM) decline, indicating varied market conditions. Positive momentum was found in bulk and corporate deals, as well as school bus demand, although elections dampened sentiment, leading customers to delay expansion plans. Limited finance options and regional challenges, such as water scarcity, further impacted performance. Looking ahead to May 2024, several positive indicators are shaping the near-term outlook. Improved vehicle supply and strategic planning in the two-wheeler segment have led to rising customer bookings and better market sentiment. In the passenger vehicle segment, new model launches and favorable monsoon forecasts are expected to stimulate customer interest. Challenges remain, with election uncertainty affecting market sentiment and financial constraints posing growth hurdles. Extreme temperatures and overcapacity in the commercial vehicle segment could further slow growth. Despite these challenges, the auto industry remains cautiously optimistic, with market opportunities arising from rising customer interest in new models. Monitoring election-related uncertainty and financial constraints will be crucial for navigating the evolving market effectively. (ANI) SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank">Google has silently launched the Pixel 8a in India starting at ₹52,999</a><a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a>

Indian auto retail sector records 27% YoY growth in April: FADA

<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>California has spent decades battling droughts and water insecurity.</li><li>Startups like Epic Cleantec are innovating with on-site water reuse.</li></ul>Despite enduring droughts for <a target="_blank" href="https://ca.water.usgs.gov/california-drought/california-drought-runoff.html">much of the past 15 years</a>, California continues to lead the nation in <a target="_blank" href="https://www.usgs.gov/special-topics/water-science-school/science/water-qa-which-states-use-most-water">water consumption</a>.During these <a target="_blank" class="" href="https://www.businessinsider.com/california-drought-could-impact-agriculture-tourism-wildlife-2021-6">dry periods</a>, some of the state's local governments began to look for ways to <a target="_blank" href="https://andthewest.stanford.edu/2023/in-times-of-scarcity-californias-best-new-source-of-water-reuse/">diversify their water supplies</a> away from lengthy pipelines and expensive, out-of-state sources.In 2012, San Francisco's Public Utilities Commission began developing the Onsite Water Reuse Program to investigate whether water reuse, also known as water recycling, in buildings could be a solution to California's water problem."There weren't any state or national regulations," Paula Kehoe, the director of water resources at the San Francisco Public Utilities Commission, told Business Insider. Kehoe and her team created a permitting program to streamline the adoption of on-site water-reuse systems developed by private businesses.As the US faces a <a target="_blank" class="" href="https://www.pewtrusts.org/en/research-and-analysis/articles/2023/09/25/more-federal-funding-needed-to-improve-drinking-water-epa-study-finds#:~:text=Water%20utilities%20throughout%20the%20United,Environmental%20Protection%20Agency%20(EPA).">$625 billion cost to address the nation's need to repair drinking- and clean-water infrastructure</a>, on-site water reuse is quickly becoming a strong alternative to the historically slow and expensive process of building large water-recycling plants.With droughts predicted to <a target="_blank" class="" href="https://apnews.com/article/california-droughts-gavin-newsom-recycling-c22de8f25b9d6a2bf69277a7185abc0f">reduce California's water supply by 10%</a> over the next 20 years, the success of these systems could lay the foundation for how the state sources its water over several decades.<h2 id="8b14ae19-3316-4bcf-9798-263a2b1e1e25">Silicon Valley is investing in on-site water recycling</h2>In 2015, during the height of California's drought and after three years of development, San Francisco unveiled the Onsite Water Reuse Program requiring all new buildings of 250,000 square feet or more to install an on-site water-treatment system for nonpotable uses, a cap that was lowered to 100,000 square feet in 2021.The city's tech background and proximity to Silicon Valley gave some <a target="_blank" class="" href="https://www.businessinsider.com/gradiant-water-startup-helps-businesses-recycle-water-2023-7">startups an opportunity</a> to enter the market. In 2019, Epic Cleantec, a maker of on-site water-reuse systems, emerged to meet the necessary demand for new large buildings.Aaron Tartakovsky, Epic Cleantec's cofounder and CEO, developed the company to address the water-reuse needs of large city buildings.He told BI he took inspiration from the <a target="_blank" class="" href="https://www.businessinsider.com/solar-careers-in-demand-workforce-shortage-2024-7">solar industry</a>, which he said had turned to local installation projects after prioritizing large-scale solar-panel farms. "Can we do the same thing for water and wastewater?" Tartakovsky said. "Can this be water's solar moment?"<div type="image" title="Aaron Tartovsky, founder of epic cleantec" height="2268" width="3024" msid="111870886" hostid="261" sizebytes="137524"></div>Epic Cleantec's on-site systems can recycle building gray water for nonpotable uses, including toilet flushing and irrigation, through their filtration and disinfection process. The company's systems also incorporate an energy-saving mechanism to limit the amount of wasted heat."We have big tanks in these buildings that are collecting all this heated wastewater," Tartakovsky said. "Rather than just sending all that heat away, we are using heat exchangers to take all of that energy from the water and then to reuse that energy within the building."Epic Cleantec has six active projects in California, including a recent system in San Francisco's Salesforce Tower that the company says is the <a target="_blank" class="" href="https://epiccleantec.com/projects/salesforce">largest on-site water-reuse system in a US commercial high-rise</a>.The company has also entered the hotel sector with a recycling system in the Waldorf Astoria Hotel in Beverly Hills. Recycled water is being used for on-site irrigation.In a drought-conscious state, Tartakovsky said the on-site recycling systems had become more appealing to tenants looking for ways to contribute to the state's water-conservation mindset.The adoption of on-site water reuse can also be a sensible decision for developers. "They're not working with us just because it's a nice thing to do and it's good for the planet," he said. "They're doing it because it makes business sense — it saves them a lot of money to incorporate technologies like ours into these projects."<h2 id="075e558b-3852-4981-bc08-a5e2095ce6fb">Water reuse to overcome hurdles</h2>While large plants and on-site water systems in major buildings have been California's <a target="_blank" href="https://andthewest.stanford.edu/2023/in-times-of-scarcity-californias-best-new-source-of-water-reuse/">more established methods</a> of water reuse, the state's biggest hurdle is retrofitting systems for existing buildings.As part of San Francisco's water-recycling initiative, the city published a list of 30 vendors that provide on-site systems that can be installed in existing buildings and new constructions to collect different types of water, including rainwater, gray water, and black water.While most of the vendors offer reuse systems and water management for new constructions, some companies, such as <a target="_blank" href="https://www.bioclere.co.uk/bioclere.php">Bioclere</a>, Phoenix's <a target="_blank" href="https://dewater.com/markets/aquacell-water-recycling/">Aquacell</a>, and <a target="_blank" href="https://innovatreat.com/">Innovatreat</a>, make systems designed to be retrofitted into existing buildings and community infrastructure.<div type="image" title="Epic Cleantec One Water system installed" height="2626" width="1751" msid="111870887" hostid="261" sizebytes="125772"></div>Erik Porse, the director and associate cooperative extension specialist at the California Institute for Water Resources, told BI these retrofits are more difficult to install because of the limitations of size and existing water pipes. "If you have a larger facility, like more area, then you can think about on-site treatment of some sort," he said. "But if you're kind of working in an existing building, like a small building, it can be kind of tough to integrate in lots of treatments."California's <a target="_blank" class="" href="https://www.businessinsider.com/california-central-valley-farms-groundwater-dought-2023-7">agriculture sector</a> also relies on water-reuse systems for nonpotable water — a key part of crop irrigation. Since the state has the highest agricultural output in the country, recycled water is important for maintaining crops, especially in times of drought. California is the leader in <a target="_blank" href="https://watereuse.org/educate/water-reuse-101/agricultural-reuse/">using reused water for agriculture</a> across the US.However, the extent to which recycled water is used in agriculture depends on a state's guidelines, many of which are underdeveloped. For example, Iowa is one of the highest producers of crops but does not have any regulations for the use of reused water in agriculture. Instead, the state is experimenting with <a target="_blank" href="https://www.cals.iastate.edu/inrc/news/2024/new-report-shares-latest-research-potential-ag-drainage-water-recycling">drainage-water recycling</a>, or collecting water from farming, and local infrastructure that captures used drainage and rainfall for reuse in on-site irrigation.Nonpotable water can also help in one of the country's newest sources of water loss: data centers. States like <a target="_blank" href="https://www.newsweek.com/why-ai-so-thirsty-data-centers-use-massive-amounts-water-1882374">Iowa</a> and <a target="_blank" href="https://grist.org/technology/surging-demand-data-guzzling-water-ai/">Virginia</a> have seen massive strains on their <a target="_blank" class="" href="https://www.businessinsider.com/ai-data-energy-centers-water-energy-land-2023-10">water supplies</a> due to the increased construction of these facilities. "Those data centers use huge amounts of water to cool themselves," Tartakovsky said.Tartakovsky hopes Epic Cleantec's recent expansions to states such as Texas, Florida, and <a target="_blank" href="https://www.cbsnews.com/news/hawaii-water-crisis-climate-change/">Hawaii</a> can help in ways beyond water scarcity. "A lot of people think you only need it in the Western states, but in places like the East Coast, a lot of times what they have is wastewater-infrastructure issues," he said. "We have pipes and sewers that were put in place anywhere from 30 to 100 years ago."<h2 id="8d5654cd-d3b7-4f2e-89c8-d5d9a678cdde">Rethinking our relationship with water</h2>To help promote the safety of its recycled water, Epic Cleantec partnered with a brewery near San Francisco, Devil's Canyon Brewing Co., to make a <a target="_blank" class="" href="https://www.businessinsider.com/half-moon-bay-brewery-california-recycled-wastewater-nasa-astronauts-2023-7">safe-to-drink beer</a> out of its nonpotable water. The beer could not be sold commercially since the state has not cleared nonpotable water for drinking, but Tartakovsky credits the campaign with highlighting the company's purification process.Other states could learn from the <a target="_blank" class="" href="https://www.gov.ca.gov/2022/04/14/state-expands-save-our-water-public-awareness-campaign-as-drought-intensifies/">public-awareness campaigns</a> California has promoted for several decades to help residents embrace water reuse. During times of drought, the state has encouraged water conservation and water recycling, such as the use of <a target="_blank" href="https://www.latimes.com/lifestyle/story/2022-06-21/gardening-with-recycled-water">recycled water for plants</a>. "We've seen a pretty big evolution in California cities, especially in Southern California, that folks understand that water reuse is a treatment technology that we use in the state, and it's important, and it provides supply resilience," Porse said.In Texas, a fellow drought-prone state, the <a target="_blank" class="" href="https://takecareoftexas.org/water">Take Care of Texas </a>campaign similarly encourages community support for water conservation so the state can survive in times of water scarcity.Porse told BI that in California as public support grows, so will government regulations. In 2023, California made progress toward establishing recycled water for <a target="_blank" href="https://www.waterboards.ca.gov/press_room/press_releases/2023/pr20231219-dpr-regulations-adoption.pdf">direct potable reuse</a> and allowing recycled water to be used in the <a target="_blank" class="" href="https://www.businessinsider.com/california-drinking-toilet-water-sewage-waste-drought-climate-crisis-solution-2023-12">state's drinking-water supply</a>.For Kehoe, the key to creating stronger water infrastructure is a partnership between communities that endures beyond times of scarcity."We always talk about water conservation as a way of life," Kehoe said. "It's not just during the drought."

Droughts are threatening California's water supply. The state is racing to save what's left. 

Thailand’s geographical proximity and affordability, along with its platter of delectable food, historical sites, pristine beaches and lively atmosphere, holds a particular appeal for Indian travellers. While tourists from India were forced to limit their travels to the Island country to a 15-day stay under a visa-on-arrival scheme until recently, the Thailand government is now extending its arms wider for us. Thailand's tourism sector has been strategically easing <keyword id="20166202" type="General" weightage="20" keywordseo="visa-regulations" source="keywords">visa regulations</keyword> to attract visitors from key markets like China and Russia. And now, the country has extended its visa exemption program, allowing visitors from these countries to vacation visa-free for up to 30 days until November 11, 2024. This move aims to revitalise its tourism industry, a key driver of the nation's economy. This is no doubt great news for those wanting to spend more time in the bustling city of Bangkok or immerse themselves in the rich culture and calm of its gorgeous temples. However, there are some rather glaring problems that Thailand is facing, thanks to climate change and the <keyword id="21610692" type="General" weightage="20" keywordseo="El-Nio-event" source="keywords">El Niño event</keyword> — that impacted India as well. <h4>Water shortage hits <keyword id="21610693" type="General" weightage="20" keywordseo="Phi-Phi-islands" source="keywords">Phi Phi islands</keyword> </h4> For instance, the idyllic islands of Koh Phi Phi, which attract many Indians every year, are facing a real-life challenge that's anything but relaxing — a severe water shortage after a scorching heatwave gripped Asia. The private company supplying water may have to cut off service entirely, according to Wichupan Phukaoluan Srisanya, president of the Krabi Hotel Association. Island authorities are scrambling for solutions, considering bringing in water from the mainland if the dry spell persists. However, they remain optimistic that the upcoming wet season in May will bring relief, and Wichupan insists that tourists planning trips shouldn't be deterred, claiming they can manage the situation. But whispers of trouble are already reaching potential visitors. Online forums and travel reviews are buzzing with warnings from returning tourists urging others to "check if their accommodation has fresh water" before booking. Some reports even detail tap water running dry in April. While Koh Phi Phi takes centre stage, the heatwave's impact isn't isolated. <keyword id="21563893" type="General" weightage="20" keywordseo="koh-samui" source="keywords">Koh Samui</keyword>, another popular Thai island, has also experienced dry and scorching conditions. Although the tourism board there assures visitors haven't been affected, the island reportedly relies on water trucks, significantly increasing operational costs for hotels. <h4>Island closure due to coral bleaching </h4> A popular island in southern Thailand, <keyword id="21605630" type="General" weightage="20" keywordseo="Pling-Island" source="keywords">Pling Island</keyword>, has been hit with a temporary closure due to extensive coral bleaching. This drastic measure by the Department of National Parks, Wildlife and Plant Conservation (DNP) highlights the growing threat climate change poses to our underwater wonders. Pling Island recently witnessed intense heatwaves along with many other islands across Thailand and Asia. Due to ocean warming and acidification, corals expel the algae living within them, leaving them pale and vulnerable — a process referred to as coral bleaching. Thailand’s pristine beaches and vibrant coral reefs are a major draw for visitors, generating millions in revenue. However, unregulated tourism also puts a strain on these delicate ecosystems. Thailand's proactive approach in closing Pling Island demonstrates a commitment to striking a balance between economic prosperity and environmental sustainability. While natural phenomena like El Niño contribute to warmer temperatures, scientists point to human-induced climate change as the bigger culprit. Warmer oceans are the new normal, with Asia experiencing a faster-than-average rise in temperatures. Pling Island's closure and Phi Phi’s water crisis serve as a stark reminder of that every system has a carrying capacity and we must honour it. It sends the powerful message that even paradise needs a break once in a while to ensure its future remains dazzling. While the tourism-reliant industry of Thailand could greatly benefit from more visitors, mindful travel would help secure the future of the countrymen.

Thailand is now welcoming Indians with open arms, but are its drought-hit islands really prepared for a tourism influx?

If you step out into <keyword id="19895037" type="General" weightage="100" keywordseo="bengaluru" source="keywords">Bengaluru</keyword> traffic these days, there’s a good chance you’ll discover a bulky water tanker spearheading the all-too-familiar clog in traffic. Amidst the ongoing <keyword id="6355836" type="General" weightage="20" keywordseo="water-crisis" source="Orion">water crisis</keyword>, India’s Silicon City has mobilised thousands of tankers that zip, almost heroically, across the city, rescuing parched residences from the metro’s urban planning crisis. Bidding to reduce their reliance on the exorb<keyword id="6354185" type="General" weightage="20" keywordseo="it" source="Orion">it</keyword>ant tankers — a necessary step after the exhaustion of half the city’s groundwater-fed borewells — many residential societies have begun innovating water-saving techniques, with varying degrees of success. However, for the several businesses and industries littering the metropolitan town, it seems like dark days are looming. <cmsannotation type="cmsannotation" annotationid="IT in turmoil" comment="subhead" text="IT in turmoil">IT in turmoil</cmsannotation> Hosting over 1,400 tech companies that employ tens of lakhs of employees, Bengaluru has certainly earned its title as India’s ‘Silicon Valley’. Not only has this driven a rapid boom in economic, infrastructural and industrial development, the city has acted as a magnet for people looking for attractive employment opportunities. Unfortunately, this success has also resulted in <a href="https://bpac.in/bangalore-population-growth-consequences-and-possible-solutions/" data-type="tilCustomLink">population levels haphazardly spiking</a> from 2,900 people per square kilometre in 2001 to 4,300 within a single decade. Estimates suggest that this figure may have breached 8,000 by now! In addition to deterring water-cooler conversations, the lack of water in their workplaces have led to several companies already urging employees to work from home. Echoing a growing sentiment among the city’s techies, <a href="https://m.economictimes.com/news/india/it-companies-in-bengaluru-urged-to-give-15-lakh-employees-wfh-option-as-city-grapples-with-water-crisis/articleshow/108761390.cms" data-type="tilCustomLink">ex-Chief Justice K Sreedhar Rao also pleaded</a> for temporary remote arrangements for migrant IT workers to depopulate Bengaluru till the water crisis is dealt with. However, many such multinational employees have already begun to preemptively take matters into their own hands by temporarily or permanently moving to other cities, such as the nearby Mysuru. Needless to say, this has disrupted operations for many companies, including some of the top IT firms in Bengaluru. In a surprising turn of tragic events, senior personnel at <keyword id="19969515" type="General" weightage="20" keywordseo="dell" source="keywords">Dell</keyword> have begun skipping meetings to prioritise their procurement of water, reported the Deccan Herald. <cmsannotation type="cmsannotation" annotationid="Real estate rates to fall; restaurants forced to adapt" comment="subhead" text="Real estate rates to fall; restaurants forced to adapt"><keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">Real estate</keyword> rates to fall; restaurants forced to adapt</cmsannotation> With pleasant weather the year round, Bengaluru has proven itself time and again as an excellent place to settle down and relax. The city’s diverse population is a testament to its uncanny ability to draw people from all over India, even before the city’s notable IT boom. Real estate has now hit an all-time high, with high demand and attractive financial options helping the sector grow exponentially in the past few decades, reportedly recording a staggering nine-year-high 54,000 housing units sold in 2023. However, the city’s recent water woes have left potential property investors second-guessing. According to a recent Deccan Herald poll, around 60% of the respondents noted that they have postponed their move to Bengaluru due to the ongoing shortage, while a similar number of people have also begun evaluating investment options in other cities. Homebuyers have also begun to diligently inquire into <keyword id="55273" type="General" weightage="20" keywordseo="groundwater" source="Orion">groundwater</keyword> borewell depths and water-saving technologies when consulting developers. While <a href="https://www.deccanherald.com/business/bengaluru-water-crisis-alarms-property-investors-dh-poll-2930539" data-type="tilCustomLink">many contractors remain firm</a> that these reactions are not representative of a long-term trend, some experts have predicted that a fall in property prices may become inevitable. A <a href="https://www.republicworld.com/business/real-estate/bengaluru-water-crisis-property-prices-in-peenya-hsr-layout-marathahalli-to-fall-15-say-experts/" data-type="tilCustomLink">Republic report</a> explains that house rates could fall up to 10-15% in the most water-stressed regions of East and Central Bengaluru, including HSR Layout, Marathahalli, Rajaji Nagar and Peenya. Needless to say, the crisis has also taken a toll on Bengaluru’s various hotels and eateries, many of which are severely dependent on tanker water for cooking, cleaning and drinking purposes. Krishna Raj, owner of the popular <keyword id="21126683" type="General" weightage="20" keywordseo="nisarg-grand-hotel" source="keywords">Nisarg Grand Hotel</keyword>, <a href="https://www.livemint.com/news/india/bengaluru-water-crisis-news-hotels-disposable-utensils-shortage-lok-sabha-polls-karnataka-dk-shivakumar-congress-bjp-11710055127680.html" data-type="tilCustomLink">explained</a> that they might have to begin serving food in disposable utensils if the trend continues into the summer months. <cmsannotation type="cmsannotation" annotationid="Industrial district parched" comment="subhead" text="Industrial district parched">Industrial district parched</cmsannotation> Located in Northwest Bengaluru, Peenya is home to thousands of industries of varying sizes, producing a host of electronics, textiles, packaging, machines and other consumer items. However, being one of the largest industrial areas in Asia hasn’t protected its businesses from the ongoing crisis. In an <a href="https://www.business-standard.com/industry/news/bengaluru-water-crisis-to-impact-local-industries-in-coming-weeks-experts-124030601026_1.html" data-type="tilCustomLink">interview with Business Standard</a>, <keyword id="21126682" type="General" weightage="20" keywordseo="peenya-industries-association" source="keywords">Peenya Industries Association</keyword> President H. M. Arif explained that the area’s micro-industries are strained to the point that many could be forced to close soon if the water crisis continues unmitigated. Many such sectors have also become hopelessly reliant on tanker water, and the associated rising costs have begun to bottleneck the manufacturing process. Prices of several commercial products could go up soon if this trend continues. “Many from the hosiery or garment sector need water for processing,” Arif explains. “You need water for workers as well as other needs. The government is saying it will source recycled water for the industry. But for that, there is a tendering process and at this rate, we will not get water this season.” <cmsannotation type="cmsannotation" annotationid="Solutions and cautious optimism" comment="subhead" text="Solutions and cautious optimism">Solutions and cautious optimism</cmsannotation> This is not to say that the government isn’t taking measures to tackle the crisis. After ordaining centralised control over water tankers and actively regulating prices to ensure the city’s water isn’t hoarded solely by the rich, officials also placed bans on recreational water use. In addition, initiatives are underway to “inject” 1,300 million litres of purified water into the city’s drying lakes per day, which the officials allege will help restore local groundwater levels. <keyword id="19927086" type="General" weightage="20" keywordseo="bwssb" source="keywords">BWSSB</keyword> has also announced plans to build an array of next-gen water treatment plants near restored lake beds to purify and deliver water wherever required. Addressing the harsh summers ahead, Karnataka government officials have expressed optimism that the completion of the Cauvery Five — a massive array of treatment plants that will treat sewage to produce 100 million litres of water a day — will help make up for any deficits by July. Meanwhile, many large corporations, including Microsoft, have begun utilising water-saving tap aerators to control water flow in the Bagmane Business Park offices. The city’s water board, the BWSSB, has also launched four mobile apps to help tackle the city’s water crisis. Attempting to bridge a gap between the water department and the citizens it serves, these apps will help residents book water online, apply for borewell permissions, report water misuse and more. At 24% of its total capacity, reservoirs across Karnataka are also drying up. Despite growing shortages, the state government has assured that the Cauvery River reservoir that supplies water to Bengaluru holds sufficient water levels to last at least until June. After that, the pre-monsoon and monsoon rains are expected to replenish the water resources. However, the supply remains much lower compared to the demand, and the only way to survive this summer could be to adopt drastic water-saving measures and a few good spells of pre-monsoon showers.

Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?

<a href="https://www.businessinsider.com/blackrock-high-stakes-bet-private-credit-bdc-2023-10"></a><ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Hi! Did you go a bit overboard with candy yesterday? Don't sweat it. Here's some guidance on <a href="https://www.insider.com/guides/health/diet-nutrition/sugar-detox">how to undergo a sugar detox</a>.In today's big story, we're looking at a Wall Street giant jumping into one of the <a href="https://www.businessinsider.com/blackrock-high-stakes-bet-private-credit-bdc-2023-10">hottest sectors in finance</a>.What's on deck: <ul><li>Markets: The Fed isn't likely to cut interest rates today, but there's <a href="https://www.businessinsider.com/interest-rates-will-fed-cut-this-week-inflation-powell-economy-2023-10">still good news for consumers</a>. </li><li>Tech: Meet the jobs proving to be the <a href="https://www.businessinsider.com/job-disruption-ai-future-careers-blue-collar-desk-work-2023-11">most resilient to an AI takeover</a>.</li><li>Business: A utopian residential cruise ship made <a href="https://www.businessinsider.com/storylines-residential-luxury-cruise-ship-investors-ex-employees-2023-10">big promises it has yet to deliver on</a>.</li></ul>But first, do you need some money?<h3>The big story</h3><h2>Everybody's a lender</h2><a href="https://www.businessinsider.com/blackrock-high-stakes-bet-private-credit-bdc-2023-10"></a><div type="image" title="Illustration of BlackRock's CEO with images of money" height="1440" width="1920" msid="104894485" hostid="261" sizebytes="386366"></div>When you hear <a href="https://www.businessinsider.com/blackrock-news-updates">BlackRock</a>, what's the first thing that pops into your head? <a href="https://www.businessinsider.com/blackrock-esg-backlash-larry-fink-succession-2023-7">Larry Fink</a>? <a href="https://www.businessinsider.com/blackrock-spot-bitcoin-etf-crypto-reactions-2023-6">ETFs</a>? <a href="https://www.businessinsider.com/blackrock-esg-municipal-bond-etf-delay-2023-8">ESG</a>? <a href="https://www.businessinsider.com/blackrock-aladdin-tech-performance-competition-2023-1">Aladdin</a> (not the movie)? <a href="https://www.businessinsider.com/blackrock-social-media-tiktok-2022-5">Conspiracy theories</a>?The world's largest asset manager wears many hats. Now it's trying to add another to its $9.1 trillion wardrobe: lender.BlackRock is the latest player <a href="https://www.businessinsider.com/blackrock-high-stakes-bet-private-credit-bdc-2023-10">pushing into the red-hot private credit market</a>, writes Insider's Rebecca Ungarino.The business of lending directly to companies has become the <a href="https://www.businessinsider.com/private-debt-credit-market-risks-outlook-2023-2022-11">topic du jour on Wall Street</a>. Sky-high interest rates and stricter lending requirements from big banks created an opportunity for investment firms. These so-called shadow banks can offer borrowers alternative forms of financing, albeit with some hefty interest payments. But BlackRock's private-credit ambitions have put the massive firm in uncharted waters, Rebecca writes, as it's <a href="https://www.businessinsider.com/blackrock-high-stakes-bet-private-credit-bdc-2023-10" target="_blank" rel="noopener">a small fish in a big pond</a>. The firm's $81 billion private credit business is only a drop in the industry's $1.75 trillion bucket. It's also well behind larger players like <a href="https://www.businessinsider.com/private-credit-power-players-debt-executives-blackstone-kkr-ares-2022">Apollo, Blackstone, and KKR</a>.<a href="https://www.businessinsider.com/blackrock-high-stakes-bet-private-credit-bdc-2023-10"></a><div type="image" title="BlackRock's Larry Fink" height="1440" width="1920" msid="104894487" hostid="261" sizebytes="65764"></div>BlackRock's private credit plans also add further validity to an industry on the rise. One executive in the space told Rebecca that BlackRock's entrance is a "stamp of approval" for the market. And while everyone seems to want in on the action — private credit was the <a href="https://www.businessinsider.com/private-credit-toast-of-the-town-greenwich-economic-forum-2023-10">talk of the Greenwich Economic Forum</a> last month — it's unclear how that'll ultimately impact the industry. Lending is a complicated enough business on its own. Adding more competitors in a high-rate environment, without the shackles that regulate traditional banks, feels like a recipe for disaster.Maybe I'm paranoid, but Wall Street's history of investing in floating-rate debt structures shrouded in mystery isn't pristine. BlackRock's cohead of US private capital said during a recent earnings call the firm was passing on more lending opportunities, citing deal terms without adequate lender protections. But as more inexperienced players dive into the space, the probability of someone willing to lend to a borrower in need, regardless of the red flags, will rise.<h2>3 things in markets</h2><a href="https://www.businessinsider.com/interest-rates-will-fed-cut-this-week-inflation-powell-economy-2023-10"></a><div type="image" title="Fed chair Jerome Powell" height="1280" width="1706" msid="104894489" hostid="261" sizebytes="88792"></div><ol><li>The Fed probably won't cut rates, but that's not a bad thing. The Federal Reserve makes its second-to-last interest rate decision of the year today. All signs are pointing to another pause in hikes, but officials remain <a href="https://www.businessinsider.com/interest-rates-will-fed-cut-this-week-inflation-powell-economy-2023-10">confident they can skirt a recession</a>. </li><li>Charlie Munger isn't a fan of VCs. Warren Buffett's business partner had some strong words for the venture community, saying VCs are "<a href="https://markets.businessinsider.com/news/stocks/charlie-munger-acquired-podcast-vc-venture-capital-berkshire-warren-buffett-2023-10">not great investors or great at anything</a>." The VC industry in the US also doesn't do a good job of supporting founders of early-stage companies, he said on a recent podcast. </li><li>A CEO walks into a bar… Executives who crack jokes during earnings calls <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-ceo-joking-earnings-calls-elon-musk-tesla-2023-10">gave their company's share price an immediate boost</a>, according to a research paper. Humor can even help if it's not all good news, as jokes "can soften the disclosure of negative news and signal relatively stronger future firm performance," according to the paper. </li></ol><h2>3 things in tech</h2><a href="https://www.businessinsider.com/job-disruption-ai-future-careers-blue-collar-desk-work-2023-11"></a><div type="image" title="Illustration showing workers holding a plunger, needle, and scissors" height="960" width="1920" msid="104894492" hostid="261" sizebytes="227234"></div><ol><li> The AI-proof jobs. Blue-collar jobs like nurses, construction workers, and barbers will be the big winners of the AI revolution. While ChatGPT replaces the rest of us, <a href="https://www.businessinsider.com/job-disruption-ai-future-careers-blue-collar-desk-work-2023-11">these careers should see a substantial boom</a>.</li><li>A leaked email provides clues regarding the UNest CEO's abrupt resignation. Ksenia Yudina, the founder and former CEO of UNest, accused three board members of voting for a <a href="https://www.businessinsider.com/the-ceo-of-unest-resigned-after-she-said-the-board">hostile takeover of UNest</a> that was '"illegal and unethical," according to an email she sent to investors and board members obtained by Insider. UNest's COO, meanwhile, said customers of the startup, which helps families save for college, have no reason to worry about their money.</li><li>The real risk of AI. Meta's chief AI scientist said some tech executives' warnings about the dangers of AI are their way of trying to <a href="https://www.businessinsider.com/sam-altman-and-demis-hassabis-just-want-to-control-ai-2023-10">control the future of AI</a>. Similarly, a Google Brain cofounder said Big Tech companies are lying about AI risks to <a href="https://www.businessinsider.com/andrew-ng-google-brain-big-tech-ai-risks-2023-10">shut down competition</a>.</li></ol><h2>3 things in business</h2><a href="https://www.businessinsider.com/storylines-residential-luxury-cruise-ship-investors-ex-employees-2023-10"></a><div type="image" title="Graphic of a ship in a toilet" height="960" width="1920" msid="104894494" hostid="261" sizebytes="171244"></div><ol><li> Choppy waters for a startup cruise ship pitching itself as a utopian community. Storylines' MV Narrative offers customers an "anti-aging global lifestyle" aboard a $900 million, 18-deck ship traveling to six continents over 1,000 days. But the ship's launch has been delayed seven years from when it was initially slated to hit the seas, and former employees, consultants, and investors <a href="https://www.businessinsider.com/storylines-residential-luxury-cruise-ship-investors-ex-employees-2023-10">doubt it will even be built</a>. </li><li> Move fast and blow up your startup. A minor update to ChatGPT enabling users to upload and analyze PDFs has massive implications for startups designed to do precisely that. It's the latest example of how Big Tech can <a href="https://www.businessinsider.com/openai-chatgpt-pdfs-ai-startups-wrappers-2023-10">wreak havoc on smaller players overnight</a>.</li><li>Gen Z's best bet for curing loneliness might be returning to the office. Young people have been <a href="https://www.businessinsider.com/cure-for-gen-z-loneliness-heading-returning-to-office-2023-10">hit particularly hard by the solitude of remote work</a>. Gen Z workers told Insider how remote work increased anxiety, lowered morale, and curtailed opportunities for career advancement.</li></ol><h2>In other news</h2><ul><li><a href="https://www.businessinsider.com/israel-airstrike-gaza-refugee-camp-hamas-civilians-2023-10">Israel defends devastating refugee camp strikes, saying civilians caught up in hunt for a Hamas commander are a 'tragedy of war'</a></li><li><a href="https://www.businessinsider.com/elon-musk-x-twitter-employee-stock-ipo-acquisition-rsus-2023-10">Internal documents reveal new details of X stock awards to staff, including what happens if the company IPOs or is acquired</a></li><li><a href="https://www.insider.com/robert-de-niro-trial-testimony-call-assistant-grandmother-funeral-2023-10">Robert De Niro testifies it was fine to call his assistant at her grandmother's funeral: 'I don't know if they were putting the body in the ground'</a></li><li><a href="https://www.businessinsider.com/sam-bankman-fried-trial-testimony-defense-fundamental-flaw-2023-10">Sam Bankman-Fried can't get past the fundamental flaw in his defense strategy</a></li><li><a href="https://www.businessinsider.com/white-house-advisor-catching-up-on-ai-biden-executive-order-2023-10">Q&amp;A: White House AI advisor says US is 'catching up' to the tech</a></li><li><a href="https://www.businessinsider.com/mcdonalds-price-loses-lower-income-customers-inflation-pressure-2023-10" target="_blank" rel="noopener">McDonald's isn't cheap anymore</a></li><li><a href="https://www.businessinsider.com/walmart-spark-gig-delivery-workers-cant-bring-groceries-your-kitchen-2023-10">Walmart Spark delivery drivers are sick of customers asking them to bring deliveries into their homes</a> </li><li><a href="https://www.businessinsider.com/tesla-competition-detroit-falls-flat-2023-10">Tesla's competition in Detroit can't keep up – the EV company keeps winning</a></li><li><a href="https://markets.businessinsider.com/news/stocks/housing-market-affordability-index-chart-mortgage-rates-home-prices-inventory-2023-10">CHART OF THE DAY: Housing market affordability plunges to lowest level since 1985</a></li></ul><h2>What's happening today</h2><ul><li>The Fed's decision on interest rates. The Federal Open Market Committee decided to pause rate hikes during its last meeting in September. </li><li>Keeping you on your toes: Happy World Ballet Day! Some of the world's top ballet companies will stream from their rehearsal studios.</li><li>Earnings today: Airbnb, DoorDash, and<a href="https://markets.businessinsider.com/earnings-calendar?utm_medium=newsletter&amp;utm_source=Sailthru&amp;utm_campaign=Insider_Today"> other companies</a>.</li></ul><h3>For your bookmarks</h3><h2>What happens in Vegas</h2><a href="https://www.insider.com/las-vegas-tips-for-booking-hotels-resorts-from-repeat-visitor-2023-10"></a><div type="image" title="Las Vegas" height="1279" width="1708" msid="104894495" hostid="261" sizebytes="196080"></div>How to get the perfect hotel at the best price in Las Vegas. Wendy Lee has been to Sin City over 50 times, and shares <a href="https://www.insider.com/las-vegas-tips-for-booking-hotels-resorts-from-repeat-visitor-2023-10">eight tips to follow ahead of your next trip</a>.The Insider Today team: <a href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, senior editor and anchor, in New York City. <a href="https://www.businessinsider.com/author/diamond-naga-siu">Diamond Naga Siu</a>, senior reporter, in San Diego. <a href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York.

BlackRock is jumping into one of the hottest sectors on Wall Street

<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."

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