Jan 15, 2018

Shell buys into U.S. solar business

Photo by Schöning / Getty Images

Royal Dutch Shell has agreed to acquire a 44% stake in Nashville-based solar energy company Silicon Ranch.

Why it matters: This is part of Shell’s expanding alternative energy portfolio, although it remains a very small part of the oil-and-gas giant’s overall business.

In October, Shell bought NewMotion, a major European electric vehicle charging company, and late last year said it would boost spending on its alternative energies division from $1 billion to $2 billion per year until 2020.

More broadly, several European oil majors are increasing their alternative energy investments. For instance, last month BP ventured back into solar energy with the announcement that it’s investing $200 million over three years to gain a 43 percent stake in Lightsource, a major European solar power developer.

Go deeper

The growing coronavirus recession threat

Illustration: Aïda Amer/Axios

In just a matter of weeks, top economists and investment bank analysts have gone from expecting the coronavirus outbreak to have minimal impact on the U.S. economy to warning that an outright recession may be on the horizon.

What's happening: The spread of confirmed coronavirus cases in Europe, the Middle East and the U.S., and the speed at which they are being discovered has set the table for the outbreak to have a larger and much costlier impact.

Mass shooting in Milwaukee: What we know

Milwaukee Mayor Tom Barrett in 2012. Photo: John Gress/Corbis via Getty Images

Six people died in a shooting at the Molson Coors Brewing Company in Milwaukee on Wednesday, including the gunman, Mayor Tom Barrett told reporters at a Wednesday evening press conference with local police.

Details: All of the victims worked at the brewery complex, as did the shooter who died of "an apparent self-inflicted gunshot wound," police confirmed in a statement late Wednesday.

Go deeperArrowUpdated 8 hours ago - Politics & Policy

Coronavirus updates: South Korea case count tops 2,000

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

33 people in California have tested positive for the coronavirus, and health officials are monitoring 8,400 people who have recently returned from "points of concern," Gov. Gavin Newsom said Thursday.

The big picture: COVID-19 has killed more than 2,850 people and infected over 83,000 others in some 50 countries and territories. The novel coronavirus is now affecting every continent but Antarctica, and the WHO said Wednesday the number of new cases reported outside China has exceeded those inside the country for the first time.

Go deeperArrowUpdated 8 hours ago - Health