The Energy Department's termination of $7.56 billion of financial awards includes cuts spanning renewables, hydrogen, transmission, cleaner use of fossil fuels and more.
Why it matters: The cuts — aimed mostly at Democratic-led states and announced in broad strokes on Wednesday night — speed the reversal of Biden-era climate and clean energy finance.
Power and data center developer Fermi saw its share price jump 55% on its first day of trading Wednesday, giving it a market cap in the $18 billion range.
Why it matters: Fermi's IPO is the latest sign of capital confidence in power and AI — and not even the only one to emerge over the last day or so.
The Energy Department said Wednesday night it's terminating $7.56 billion worth of financial awards that support 223 projects funded via several of its clean-energy offices.
Why it matters: It's among the starkest reversals of Biden-era DOE financial support for low-carbon energy and manufacturing initiatives.
Tesla is hiking lease prices as automakers adjust to the new normal with no federal tax credits to drive sales of electric vehicles.
Why it matters: The $7,500 tax credit was a significant incentive for qualifying buyers, but President Trump and congressional Republicans recently killed it.
At least six houses buckled under the rough waves slamming North Carolina's Outer Banks from Hurricanes Imelda and Humberto this week, according to the National Park Service.
Why it matters: At least 18 privately-owned homes have collapsed along North Carolina's coast since 2020, aided by soil erosion from rising seas and storms.
Neptune Insurance didn't just price its IPO last night ahead of the government shutdown, it thinks the shutdown could help its business.
What they're saying: "We compete with the federal government, which provides flood insurance through FEMA" explains Neptune CEO Trevor Burgess, who adds that he received lots of shutdown questions from prospective investors. "They'll be closed, but we'll be open and able to serve thousands of homeowners."
My overnight stay in the sleeper cab of Volvo's new long-haul truck had all the trappings of a 5-star experience, right down to the monogrammed robe and the mints on the pillow.
Why it matters: Driving a truck for a living is grueling, both mentally and physically, and turnover rates are high.
