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October 22, 2019

World Energy Day / Space fans gather for International Astronautical Congress / UPS reveals Q3 earnings

By Robert Scammell

3 THINGS THAT WILL CHANGE THE WORLD TODAY

Good morning, here’s your Tuesday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.

World Energy Day raises awareness of 1 billion without power

Today is World Energy Day, a global event to raise awareness around energy use and promote energy access to all.

In 2017, the International Energy Agency estimated that there were still 1.1 billion people around the world without access to electricity. In 2018 that number fell just below a billion. Some 95% of those living without electricity are in countries in sub-Saharan Africa and developing Asia.

The initiative, first launched in 2012 at the World Energy Forum in Dubai, also aims to promote global decarbonising efforts.

Public interest in the climate emergency is at a high following school protests lead by Swedish teenager Greta Thunberg and the public disruption caused by Extinction Rebellion.

Space fans gather for International Astronautical Congress

More than 4,000 people with an interest in space have gathered in Washington, US, for the annual International Astronautical Congress.

Academics, astronauts and engineers are among those who will discuss the advancement and progress of space exploration. This year’s theme is ‘one giant leap for mankind’, celebrating the 50th anniversary of the Moon landing which took place in July this year.

The 70th IAC will include lectures on topics such as the search for liquid water on Mars and the challenges of exploring the Sun.

The event, which takes place in a different country each year, will run until Friday.

UPS reveals Q3 earnings amid trade uncertainty

Delivery giant United Parcel Service (UPS) today announces its third-quarter earnings. Its financial results come as the IMF warns the global economy is growing at its slowest pace since the financial crisis amid the US-China trade war and Brexit uncertainty.

However, analysts expect the American multinational’s profits to increase 13.2% year-over-year, Market Realist reports. In 11 of the last 12 quarters, UPS has beat analysts’ expectations.

Robust e-commerce growth and the firm’s new next-day air and ground courier services have been given as possible boosts for the firm.

However, softening trade in the Asian market as a result of the US-China trade war did cause a 2.7% slump in international revenues in the second quarter of this year.

In August UPS announced it had been trialling autonomous trucks for cargo deliveries after it took a minority stake in TuSimple. The pilot saw its payload transported across a 115-mile stretch between Tucscon and Phoenix, Arizona, US.

Monday’s Highlights

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Lab-grown meat breakthrough brings realistic food texture a step closer

Researchers develop new neural network for more accurate facial recognition

World’s largest bitcoin mining farm launches key phase