Plus, NASA postpones Artemis 1 moon mission launch.
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Honda Motor and LG Energy Solution are partnering to build a $4.4B electric vehicle battery factory in the U.S. The factory will be built in Ohio, the same state Honda has an auto manufacturing plant in Marysville. Construction of the plant is expected to start next year, with production scheduled to begin in late 2025. More: - Honda joins a growing number of automakers partnering with battery suppliers to split the upfront costs of EV production.
- Last year, Honda announced it would switch to full EVs and fuel-cell vehicles by 2040.
- In April, the automaker said it would accelerate its transition to EVs by spending about $36B on battery-powered vehicles over the next 10 years.
- Honda plans to roll out 30 electric models by 2030 and is partnering with General Motors and Sony Group to develop them.
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Reliance Industries plans to invest $25B to build out its 5G network in India. Chairman Mukesh Ambani said the company would start offering the services in India’s largest cities in the next couple of months and to the rest of the nation by Dec. 2023. Earlier this month, Reliance emerged as the highest bidder in the Indian government’s first auction of the 5G spectrum. More: - Ambani said Reliance would deploy a stand-alone 5G network that won’t depend on the earlier 4G network.
- This would help deliver a faster connection.
- The company plans to connect over 100 million homes and millions of small merchants and businesses.
- Reliance is partnering with U.S. chip maker Qualcomm to achieve its targets.
- Reliance Jio is the telecommunications arm of Reliance Industries, which is more known for its oil business.
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The FTC has sued data broker Kochava for selling data that tracks people at reproductive health clinics, places of worship, domestic violence shelters, and other sensitive locations. The FTC claims Kochava sold location data from hundreds of millions of mobile devices that could be used to track individuals' movements. More: - The FTC claims Kochava granted access to a sample data set of time-stamped location information from 61 million unique mobile devices, with minimal effort required by the user seeking access to the data.
- The agency claims Kochava was aware of the potential uses of this sensitive data and yet marketed its services on the Amazon Web Services Marketplace with the suggestion of using its information "to map individual devices to households."
- The FTC noted that identification via Kochava's location data could injure consumers through exposure to stigma, discrimination, physical violence, emotional distress, and other harms.
- The lawsuit seeks to stop Kochava's sale of sensitive geolocation data and require the company to delete the sensitive geolocation information it has collected.
- Kochava is based in Idaho.
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Singapore’s sovereign-wealth fund GIC Pte. and Florida-based commercial real-estate firm Workspace Property Trust are buying 53 suburban office buildings in a deal valued at $1.1B. The move is seen as a bet that remote work would increase demand for workplaces close to residential areas. More: - The deal would bring Workspace’s holdings to about 18 million square feet, almost double its current holdings.
- Many of the newly purchased buildings are clustered around Atlanta, Dallas, and the San Francisco bay area.
- The pandemic impacted the suburban office market.
- Some prosperities lost so much value that developers tore them down to build warehouses or residential buildings.
- JPMorgan Chase and Bank of Montreal are financing the deal, which closed on Friday.
- The seller, Griffin Realty Trust Inc., is keeping a minority stake in the buildings.
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Cox Communications has launched a pilot mobile phone service in Hampton Roads, Va.; Omaha, Neb.; and Las Vegas. The company plans to launch the service in other markets throughout the year. Cox is the latest cable and broadband company to expand into the wireless business. More: - Cox is one of the U.S.’ largest broadband internet providers and serves nearly 7 million homes and businesses across 18 states.
- Cox’s pilot mobile service offers two plans: a $45 plan with unlimited data and another plan at $15 a month with 1 gigabyte of data and $15 for each additional gigabyte of data used.
- Cox Mobile customers will also have access to 4G LTE and 5G networks.
- Cox and other cable companies launching their own mobile services aren’t building their own cell towers but are paying big-name wireless providers for access under reseller agreements.
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Microsoft has made changes to the terms of its Cloud service in Europe, outlining them in a blog post on Monday. The EU’s antitrust regulators previously fined the company $1.6B over its practices in the cloud space. Changes include making it easier for customers of rival cloud-service companies in Europe to move their existing software to these other networks. More: - The changes will take effect on Oct. 1 and apply to global customers of European cloud providers.
- The changes do not apply to cloud service providers based outside Europe, including Amazon and Google.
- The European Commission is investigating Microsoft over its business practices.
- Earlier this year, Microsoft President and Vice Chair Brad Smith said the company would address some concerns related to its licensing rules.
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- NASA postponed its long-awaited Artemis 1 rocket launch mission to the moon due to an engine issue that emerged during the countdown. The agency could not resolve the temperature problem identified in one of the four liquid-fueled engines. NASA has backup launch dates scheduled for Sept. 2 and Sept. 5, but officials couldn't say whether the engine issue will be fixed by either of those dates.
- On Monday, China's Sinopec Corp announced that it has put into operation the country's largest carbon capture, utilization, and storage (CCUS) facility in east China. The company plans to build two more plants of similar size by 2025. The state-backed oil giant is one of the leading companies building pilot CCUS projects in China as part of the country's goal to reach peak carbon emissions by 2030.
- The U.S. government is ending its free COVID-19 at-home test kit program on Friday due to insufficient congressional funding. According to a source, supplies are limited, and the officials want to have enough on hand in the event of a fall surge.
- Bitcoin fell below $20,000 on Monday, trading as low as $19,526, a level last seen since July 13. The digital coin rebounded slightly by Monday late afternoon, hitting over $20,300. Bitcoin is down over 50% this year and over 70% from its peak of $68,990.90 in Nov. 2021.
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 |  | Vanessa Omeokachie is a Researcher at Inside. Her interests include finance, tech, and startups. In her free time, she enjoys reading, hiking, attending music festivals, and traveling. Connect with her on Twitter @VanessaOmeo or through email at vanessa@inside.com |  | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
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