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New London cabs must be zero-emissions capable. (Kirsty Wigglesworth / AP)

An aluminum plant closed three years ago is reopening to service the manufacture of electric London black cabs, reflecting a nascent revival of industry in reaction to a new requirement that all new taxis in the British capital be capable of zero-emissions driving as of this coming January, per Reuters. The new law requires either hybrid or electric cabs.

Why it matters: The move is not yet a story of gigantic reemployment — the move will create just 130 jobs at a Sapa plant in the Welsh town of Bedwas. But the London Electric Vehicle Company, which is owned by China's Geely and makes the cabs, plans to manufacture about 10,000 of them for sale in the U.K. and abroad, another data point in an early electric car trend.

  • It is good news on top of a revival in metals prices.
  • In 2014, aluminum prices crashed because of a surplus, and plants closed across the U.K. and elsewhere.
  • But aluminum prices are up 24% this year because of a rise in Chinese demand, and a cut in supply.

Go deeper

U.S. grants temporary protected status to thousands of Venezuelans

Venezuelan citizens participate in the vote for the popular consultation in December 2020, as part of a protest against Venezuelan President Nicolás Maduro in Doral, Florida. Photo: Chandan Khanna/AFP

Venezuelans living in the United States will be eligible to receive temporary protected status for 18 months, the Department of Homeland Security announced Monday.

Why it matters: Tens of thousands of Venezuelans have fled to the U.S. amid economic, political and social turmoil back home. Former President Trump, on his last full day in office, granted some protections to Venezuelans through the U.S. Deferred Enforced Departure program, but advocates and lawmakers said the move didn't go far enough.

"She-cession" threatens economic recovery

Illustration: Sarah Grillo

Decades of the slow economic progress women made catching up to men evaporated in just one year.

Why it matters: As quickly as those gains were erased, it could take much, much longer for them to return — a warning Treasury Secretary Janet Yellen issued today.

The Week America Changed

Sandberg thought Zuckerberg was "nuts" on remote work in January 2020

Photo illustration: Sarah Grillo/Axios. Photo: Paul Marotta/Getty Image

Chief operating officer Sheryl Sandberg thought Mark Zuckerberg was "nuts" when he raised the possibility in January 2020 that 50,000 Facebook employees might have to work from home. By March 6, they were.

Why it matters: In an interview Monday with Axios Re:Cap, Sandberg explained how Facebook moved quickly to respond to the pandemic with grants for small businesses and work-from-home stipends for its employees, and how the company has been watching the unfolding crisis for women in the workforce.