Impact of these floods. The flooding so far in the month ofjuly is estimated to have cost around 25 billion usd. And of course the season for these sort of extreme weather events is not yet over. August and september, historically, have also often had Severe Weather events, such as typhoons and floods, as well as drought. Last year, china was also hit by a very severe drought. So what were seeing is increasing impact of Severe Weather events on china. And this is, of course, linked to rising temperatures globally. Climate change is very much linked to what were seeing at present in china and in recent years. And theres a lot of concerns that as Global Temperatures rise further towards that global target of one and a half degrees centigrade, that the impact and economic costs of these Severe Weather events will actually increase significantly further. So in your view, should there be more investment in infrastructure in order to prevent devastations that we saw . I think, given the expe
let s get down to business. an australian firm recharge industries has come to the rescue and bought the battery maker britishvolt out of administration. the deal is expected to be announced shortly. britishvolt had plans to build a £4 billion gigafactory near the port of blyth in northumberland, but it ran out of money and collapsed last month. its downfall was blamed on a lack of battery experience, unproven technology, and therefore no customers oi’ revenue. the new owner is another start up. recharge industries is owned and run by a new york based investment fund called scale facilitation. its australian chief executive, david collard, told our business editor simonjack why his company was different. what we re bringing, which is different to the prior britishvolt, is we re bringing validated technology. so that process has already started. us defence has also validated the technology, it s actually already supplied to the uk navy through a subcontractor over here.
administrators showed that recharge industries have yet to pay some $10 million which was due in april. the move has cast doubt on the deal. britishvolt had planned to build a massive battery plant in england but went into bankruptcy after running out of money. a home grown label in singapore is looking to expand its global footprint.in the nightlife scene! zouk pioneered the clubbing scene here. and 30 years later is looking to venture overseas. we caught up with the company s chief executive andrew li.
financial officer and would leave the electric car maker at the end of the year. he also expressed gratitude to his boss, elon musk, and to his colleagues, saying, quote, they had accomplished things many thought not possible. mr kirkhorn had been with tesla for 13 years. he took over the finance role in 2019. during that time, tesla s profits and its market valuation soared. no reason was given for his exit, but his departure does raise questions about who will succeed elon musk, a busy man who also runs spacex and the former twitter platform x. accounting head vaibhav taneja will take over the role of cfo. but no word yet whether he will inherit the title of master of coin, a name that was given to mr kirkhorn back in march 2021. michelle fleury reporting there. the australian company meant to buy failed battery maker britishvolt has missed the deadline to pay for the business. filings from britishvolt s