Baltic Dry Index. 2404 +48 Brent Crude 105.43
Spot Gold 1897
Coronavirus Cases 02/04/20 World 1,000,000
Deaths 53,100
Coronavirus Cases 27/04/22 World 510,879,408
Deaths 6,249,094
“I have offended God and mankind because my work did not reach the quality it should have.”
Leonardo da Vinci’s last words.
Someone is trying to widen the war but who gains from that? How long do we have before planet Earth faces its first and last nuclear war?
In the markets, more on the Twitter Top.
In China, more Covid Chaos as China pursues a futile lockdown policy against the Omicron variants.
All in all, it looks like being a bad news day.
Wall Street tumbles, as European shares again retreat
April 26, 2022 11:18 PM GMT+1
WASHINGTON/MILAN, April 26 (Reuters) - U.S. shares tumbled on Tuesday, with the Nasdaq posting its steepest one-day rout since September 2020, while European stocks extended losses for a third session as investors warily awaited U.S. tech earnings and fretted over global growth.
China's COVID-19 curbs and fears of aggressive U.S. Federal Reserve tightening continued to damp risk appetite and lifted the dollar to new two-year highs.
Oil prices rebounded in volatile trading and gold prices rose on safe-haven buying.
The tech-heavy Nasdaq led Wall Street lower, closing at its lowest since late 2020. The Dow Jones Industrial Average (.DJI) fell 2.38% to end at 33,240.18 points, while the S&P 500 (.SPX) lost 2.81% to 4,175.2.
The Nasdaq Composite (.IXIC) dropped 3.95% to 12,490.74.
Alphabet Inc (GOOGL.O) and Microsoft Corp (MSFT.O) both fell almost 4% ahead of their results after the closing bell. About a third of S&P 500 companies are set to report results this week.
"There's a lot of anxiety ahead of the earnings which are coming up Tuesday, Wednesday and Thursday just because if they don't hold up, then there's nothing left to hold up the market," said Thomas Hayes, chairman of Great Hill Capital LLC in New York.
The MSCI world equity index (.MIWD00000PUS) fell 13.6 points, or 2.03%, to 655.01.
The pan-Europe STOXX 600 index (.STOXX) closed lower, with technology stocks (.SX8P) down 2.3% at six-week lows and banks (.SX7P) dropping 2.3%. The index had rallied up to 1% earlier in the session amid strong earnings from companies including Swiss bank UBS (UBSG.S) and shipping giant Maersk (MAERSKb.CO)
----News that Elon Musk had clinched a deal to buy Twitter (TWTR.N) for $44 billion in cash had buoyed tech stocks on Monday, but shares of the social media platform fell on Tuesday. Tesla slumped 12% on concerns Musk may sell some of his stake, contributing more than any other stock to the S&P 500 and Nasdaq's steep declines.
----Investors also eyed the Federal Reserve meeting next week. Markets have been fretting that an aggressive pace of tightening by the Fed could derail the global economy, which has only just started to recover from the pandemic.
The Fed is expected to raise rates by a half a percentage point at each of its next two meetings. FEDWATCH
More
https://www.reuters.com/business/global-markets-wrapup-1-2022-04-26/
European markets head for lower open as fears over global growth rattle sentiment
LONDON — European stocks are expected to open lower on Wednesday as global markets remain mixed, with fears persisting over the global growth outlook.
The U.K.’s FTSE index is seen opening 10 points lower at 7,374, Germany’s DAX 102 points lower at 13,664, France’s CAC 40 down 42 points at 6,374 and Italy’s FTSE MIB 76 points lower at 23,232, according to data from IG.
The lower open expected in Europe comes amid mixed trade elsewhere. U.S. stock futures were mixed on Tuesday night after the major averages continued their April sell-off amid concerns of an economic slowdown, and Wall Street considered earnings that came in after the bell.
Shares in Asia-Pacific were mixed in Wednesday trade as investors reacted to the losses on Wall Street.
Heightened tensions over the Russia-Ukraine war persist. On Monday, Russia said that the threat of a nuclear war is very significant, with Foreign Minister Sergey Lavrov stressing the risks should not be underestimated. U.S. Defense Secretary Lloyd Austin responded by calling the nuclear war rhetoric “very dangerous and unhelpful.”
It’s a busy day for earnings in Europe on Wednesday with Deutsche Bank, Credit Suisse and Lloyds Banking Group reporting this morning.
Other earnings are due from Puma, ST Micro, GSK, Persimmon and WPP. On the data front, French and German consumer confidence figures are due for April and May, respectively.
https://www.cnbc.com/2022/04/27/european-markets-fears-over-global-growth-dominate-sentiment.html
In other news, someone is attempting to widen the new European war, Russia cuts off Poland and Bulgaria’s natural gas, China is fighting a losing lockdown campaign against the omicron variants.
Moldovan president holds security meeting after blasts in Transnistria
Two radio antennae in the Moldovan breakaway region of Transnistria have been damaged by blasts.
By JERUSALEM POST STAFF Published: APRIL 25, 2022 18:28 Updated: APRIL 26, 2022 11:53
Moldovan President Maia Sandu is convening a meeting of the country's Supreme Security Council on Tuesday over incidents that took place in the breakaway Transnistria region, the president's press office said in a statement.
"The Supreme Security Council will meet from 1300 (1000 GMT) at the Presidency. After the meeting, at 1500, President Maia Sandu will hold a press briefing," the statement said.
Two radio antennae in the Moldovan breakaway region of Transnistria have been damaged by blasts, the interior ministry said on Tuesday.
"In the early morning of April 26, two explosions occurred in the village of Maiac, Grigoriopol district: the first at 6:40 and the second at 7:05", the ministry said. It said that two radio antennas were knocked out following the blasts.
No residents were injured, the ministry said.
Several explosions were reported near the State Security Ministry building in Tiraspol, Transnistria, the pro-Russian breakaway region of Moldova, Russian news outlet TASS reported Monday, citing TV channel TSV.
Firefighters are currently on scene and ambulances are nearby, TSV reported, according to TASS. No casualties have been reported at this time.
Unverified photos show broken windows in the building and other unverified eyewitness photos shared on Telegram show two used grenade launchers on the street near the building, according to TASS.
Deputy of the Supreme Council (Transnistria's legislature) Andrey Safonov told a TASS correspondent that a hand grenade launcher was used.
"The shelling of the building by a grenade launcher is an attempt to sow panic and fear," he told TASS.
"Attempts to put pressure on us have been observed before."
https://www.jpost.com/breaking-news/article-705070
U.S. intel helped Ukraine protect air defenses, shoot down Russian plane carrying hundreds of troops
Tue, April 26, 2022, 5:00 PM
As Russia launched its invasion, the U.S. gave Ukrainian forces detailed intelligence about exactly when and where Russian missiles and bombs were intended to strike, prompting Ukraine to move air defenses and aircraft out of harm’s way, current and former U.S. officials told NBC News.
That near real-time intelligence-sharing also paved the way for Ukraine to shoot down a Russian transport plane carrying hundreds of troops in the early days of the war, the officials say, helping repel a Russian assault on a key airport near Kyiv.
It was part of what American officials call a massive and unprecedented intelligence-sharing operation with a non-NATO partner that they say has played a crucial role in Ukraine’s success to date against the larger and better-equipped Russian military.
The details about the air defenses and the transport plane, which have not previously been reported, underscore why, two months into the war, officials assess that intelligence from U.S. spy agencies and the Pentagon has been an important factor in helping Ukraine thwart Russia’s effort to seize most of the country.
“From the get-go, we leaned pretty heavily forward in sharing both strategic and actionable intelligence with Ukraine,” a U.S. official briefed on the matter told NBC News. “It’s been impactful both at a tactical and strategic level. There are examples where you could tell a pretty clear story that this made a major difference.”
a statement, a spokesperson for the White House National Security Council said, “We are regularly providing detailed, timely intelligence to the Ukrainians on the battlefield to help them defend their country against Russian aggression and will continue to do so.”
NBC News is withholding some specific details that the network confirmed about the intelligence sharing at the request of U.S. military and intelligence officials, who say reporting on it could help the Russians shut down important sources of information.
More
https://www.yahoo.com/news/u-intel-helped-ukraine-protect-160006854.html
Russia cuts gas to Poland in what Ukraine condemns as 'gas blackmail'
April 27, 2022 5:52 AM GMT+1
WARSAW/SOFIA/KYIV, April 27 (Reuters) - Russia halted gas supplies to Poland under the Yamal contract on Wednesday, data from the European Union network of gas transmission operators showed, in a deepening of the rift between the West and Russia over its invasion of Ukraine.
Bulgaria, like Poland a NATO and EU member, said earlier that Russia would also halt supplies of gas to it. There was no word early on Wednesday if Bulgaria's supplies were also cut.
Ukraine accused Russia of blackmailing Europe over energy in an attempt to break its allies, as fighting heads into a third month without Russia capturing a major city.
Staunch Kremlin opponent Poland is among the European countries seeking the toughest sanctions against Russia for invading its neighbour.
Poland's gas supply contract with energy giant Gazprom (GAZP.MM) is for 10.2 billion cubic meters (bcm) per year, and covers about 50% of national consumption.
Poland's state-owned PGNiG (PGN.WA) had said supplies from Gazprom via Ukraine and Belarus would be cut at 8 a.m. (0600 GMT) on Wednesday, but Poland said it did not need to draw on reserves and its gas storage was 76% full.
---- Bulgaria, which is almost completely reliant on Russian gas imports, said it had fulfilled all its contractual obligations with Gazprom and that the proposed new payment scheme was in breach of the arrangement.
It has held initial talks to import liquefied natural gas through neighbouring Turkey and Greece.
Gazprom said it had not yet suspended supplies to Poland but that Warsaw had to pay for gas in line with its new "order of payments." It declined to comment regarding Bulgaria.
The invasion of Ukraine, launched on Feb. 24, has left thousands dead or injured, reduced towns and cities to rubble, and forced more than 5 million people to flee abroad.
Moscow calls its actions a "special operation" to disarm Ukraine and protect it from fascists.
Ukraine and the West say this is a false pretext for an unprovoked war to seize territory in a move that has sparked fears of wider conflict in Europe unseen since World War Two.
Russia's ambassador to the United States has warned Washington to stop sending arms to Ukraine, saying that large Western deliveries of weapons were inflaming the situation.
More than 40 countries met in Germany on Tuesday to discuss Ukraine's defence.
Mark Milley, chairman of the U.S. Joint Chiefs of Staff, told reporters while flying to Tuesday's meeting that the next few weeks in Ukraine would be "very, very critical".
Germany announced on Tuesday its first delivery of heavy weapons to Ukraine, including Gepard tanks equipped with anti-aircraft guns. read more
More
‘Everything is halted’: Shanghai shutdowns are worsening shortages
April 26, 2022
Thousands of air fryers are stuck in factories, warehouses and ports in central China, where shutdowns have stalled millions of dollars worth of inventory for Yedi Houseware, a family-run business in Los Angeles.
How quickly those backlogged appliances make it to the United States could have wide-ranging implications across the U.S. economy, as domestic manufacturers and retailers brace for another round of disruptions from recent covid-related shutdowns in Shanghai, China’s largest city. White House officials are paying close attention to the disruptions to monitor the potential impact on the U.S. economy.
“Things are getting crazy again,” said Bobby Djavaheri, the company’s president. “Everything is halted. There are closures this very minute that are adding to the supply chain nightmare we’ve been experiencing for two years.”
Chinese city with ‘zero covid’ still hit by pandemic economic woes
Other executives are dealing with similar scrambles as the situation in China appears to change every day, sweeping up many different sectors.
Widespread covid outbreaks in China have bought entire cities to a standstill and hobbled manufacturing and shipping hubs throughout the country. An estimated 373 million people — or about one-quarter of China’s population — have been in covid-related lockdowns in recent weeks because of what is known as the country’s zero covid policy, according to economists at Nomura Holdings. There are also fears that new lockdowns could soon take hold in the capital city, Beijing, escalating the threat to the global economic recovery.
Anxiety over new disruptions has already caused the Chinese stock market to fall sharply, weighing on U.S. stock indexes as well.
And there are signs things could only get worse. Continuing lockdowns in Shanghai — a major hub for America’s semiconductor and electronics supply chains — has set up automakers, electronics companies and consumer goods firms for months of delays and higher costs.
The challenges come on top of more than two years of global shipping disruptions that some had hoped would ease this year.
Tech giants and major automakers rely heavily on Shanghai-based suppliers and ports. Roughly one-half of Apple’s top suppliers, for example, are based in or near the city, according to an analysis by Nikkei Asia. (Apple did not immediately respond to requests for comment.) Meanwhile, Volkswagen’s chief executive said this month that the automaker is “temporarily unable to meet high customer demand” because of ongoing lockdowns. The company, which had to stop production at certain facilities for more than a month for covid-related reasons, says it is gradually resuming production now.
“If Shanghai continues being unable to resume work and production, from May, all tech and industrial players involving the Shanghai supply chain will completely shut down, especially the auto industry!” Richard Yu, head of consumer and auto business at Chinese tech giant Huawei, was reported to have said on the social media platform WeChat.
More
Next, more on that Elon Musk Twitter deal. 44 billion USD, but for what? What vital service, goods, products or commodities does Twitter produce/provide?
Funding obscured: The family office behind Musk's $44 bln Twitter buyout
April 26, 2022 12:59 AM GMT+1
April 26 (Reuters) - The small family office that is managing the wealth of the world's richest person and is helping put together the largest-ever acquisition to be carried out by one person is shrouded in secrecy.
On Monday, Musk clinched a deal to buy Twitter Inc (TWTR.N) for $44 billion in a seminal moment for one of the world's most influential public forums. read more
Musk - who is also the chief executive of electric car maker Tesla Inc (TSLA.O) and aerospace company SpaceX - revealed in a regulatory filing last week that the social media company should reach out to its family office as a point of contact regarding his proposed acquisition.
Yet little is known about the Austin, Texas-based family office that manages Musk's assets. The office is called Excession and the man who helped build it is Jared Birchall, a former Morgan Stanley (MS.N) banker who has advised Musk on his interactions with Wall Street for several years, according to regulatory filings and legal documents. He also hired an investigator to probe a Musk critic that Musk called "pedo guy" back in 2018, according to court documents.
Born in 1974, Birchall was hired by Musk from Morgan Stanley in 2016 to work for his family office. Birchall is also the chief executive of Musk's brain chip firm Neuralink, a director at Musk's tunneling firm the Boring Company and a board member at Musk's philanthropic private foundation.
Business registration records with the Texas comptroller of public accounts list Birchall as the manager of Excession as recently as 2021.
Birchall and Musk did not respond to requests for comment.
More
“One never knows the ending. One has to die to know exactly what happens after death, although Catholics have their hopes.”
Alfred Hitchcock.
Global Inflation/Stagflation Watch.
Given our Magic Money Tree central banksters and our spendthrift politicians, inflation now needs an entire section of its own.
With Ukraine’s crops iffy at best, un-shippable this year at worst, it’s more important than ever to follow crops progress in North America and Europe. We need to keep an eye on China’s grain crops too, especially rice, where all the lockdowns are probably by now interfering with agricultural supply chains especially fertiliser.
But not to worry, China’s statistics are mostly top down driven, rather like the USA’s Bureau of Lying Statistics [BLS.] Do you really want to tell the boss that you failed to make the target!
Not yet a concern, but the US planting is off to a slower start than I had expected given the current high prices.
Corn jumps to 7% planted while soybeans move to 3%, USDA reports
By Laurie Bedord 4/25/2022
The USDA released its fourth Crop Progress report Monday afternoon. These reports run weekly through the end of November, and look at the progress and condition of various crops on a national and state-by-state scale.
CORN
As of Sunday, the report pegged corn planted at 7%, compared with 15% for the previous five-year average; 2% has emerged compared to 3% for the previous five-year average.
SOYBEANS
As of Sunday, the report pegged soybeans planted at 3%, compared with 5% for the previous five-year average.
WHEAT
Spring wheat planted was reported at 13% compared with 15% for the prior five-year average; 2% has emerged compared with 4% for the previous five-year average.
Winter wheat came in at 11% vs. the 19% five-year average. Winter wheat condition was 27% good/excellent and 39% poor/very poor. This compares with the previous year average of 49% good/excellent and 19% poor/very poor.
“Today’s Crop Progress report showed corn planting progress at 7%, which is 3 points higher than last week, but 2 points shy of the analysts’ estimate and 13 points below the five-year average,” says Bob Linneman, a commodities broker with Kluis Commodity Advisors. “Soybeans planted came in at 3%, which is inline with estimates, but 2 points below the five-year average. Surprisingly, spring wheat planted came in at 13%, which is 1 point above estimates yet 7 points below the five-year average. Winter wheat conditions fell in this report when traders were looking for an improvement.”
More
https://www.agriculture.com/crops/progress-maps/crop-progress-report-april-25-2022
Column: U.S. corn planting slowest since 2013, yield risks still premature
NAPERVILLE, Ill., April 25 (Reuters) - U.S. corn planting is moving at its slowest pace in nine years, poor timing for threats to the world’s largest corn crop as prices remain near record levels.
Slower-than-normal planting has preceded strong U.S. corn yields in some recent years, but farmers need to avoid falling too far behind over the next three weeks because crops have been far from excellent when planting delays were serious.
The U.S. Department of Agriculture’s statistics service on Monday pegged 7% of the corn crop planted as of Sunday, below trade expectations for 9%. The five-year average is 15%, and 16% was planted on the same date last year.
Many states have been too cold, too wet or both, and corn is best planted in drier, warmer soils. Only 2% of the corn in top growers Iowa and Illinois was planted as of Sunday, well off the respective averages of 15% and 21%.
The next three weeks are statistically the busiest for U.S. corn planting, though many areas will continue to be slow throughout the next week.
----U.S. corn planting typically reaches the halfway point on May 8, though that could be a bit early for full-scale panic if progress is still lagging by then. Planting in 2019 was among the slowest years on record and got worse as May progressed. Chicago corn futures bottomed on May 13 that year before surging 24% to finish the month.
----Last week, the U.S. Climate Prediction Center forecast that the Midwest and Northern Plains were more likely to be cooler rather than warmer next month, which could hold back progress. The precipitation bias was mixed across the Corn Belt.
It is still early in the U.S. corn planting campaign and concerns for yield are not yet necessary. However, below average yields have resulted when May 8 progress is 40% or less. Poor yields were the outcome in eight of the 10 years where planting was less than two-thirds complete by May 15.
More
Indonesia may widen palm export ban to combat shortages
JAKARTA, April 26 (Reuters) - Indonesia is prepared to widen its ban on exports of refined palm olein if it faces domestic shortages of derivatives used in the production of cooking oil, according to details presented at a meeting between government and industry officials.
The world's biggest palm oil exporter plans to halt shipments of refined, bleached and deodorized (RBD) palm olein but will allow exports of crude palm oil or other derivatives from Thursday, senior government official Musdhalifah Machmud, who verified the details presented, told Reuters.
RBD palm olein accounts for around 40% of Indonesia's total exports of palm oil products, according to analysts' estimates, which means the export ban could significantly affect export earnings in Southeast Asia's biggest economy.
Indonesia typically exports about $2.5 billion to $3 billion of palm oil products per month.
The authorities will strictly monitor domestic supply of refined palm oil and crude palm oil, which are used as raw materials to make RBD olein, according to presentation slides.
"If there is shortage of refined palm oil, then further export bans can be carried out," said one slide, which was presented to palm oil companies on Monday.
President Joko Widodo announced the ban on exports of cooking oil and its raw material on Friday to help control soaring domestic prices, but provided no details.
Indonesia's announcement has sent global edible oil prices soaring as supplies were already choked by other factors such as drought and shortages from Russia's invasion of major crop producer Ukraine.
---- Indonesia's economic affairs ministry held a meeting with cooking oil producers on Tuesday to discuss the export ban, according to an industry source.
Musim Mas, a Singapore-based private palm oil company, said the smaller scope of the ban showed the government was taking into account the impact on the industry and smallholder farmers.
However, Carolyn Lim, its senior manager for corporate communications, also said the smaller scope meant the ban could last longer.
---- The Indonesian government has been criticised by some analysts and politicians for erratic policymaking to contain the rise in cooking oil prices, having already implemented and revoked an export restriction earlier in the year. read more
Primark to raise prices as cost pressures mount
April 26, 2022 8:40 AM GMT+1
LONDON, April 26 (Reuters) - Clothing chain Primark is set to raise prices due to severe inflationary pressures, its parent company Associated British Foods (ABF.L) said on Tuesday, as it also warned on margins at its food businesses.
The group said cost pressures at Primark were such that it has been unable to offset them all with savings, and the business will therefore implement selective price increases across some of its autumn/winter stock.
The move underscores the balancing act the clothing industry is facing as it struggles to protect margins without denting demand amid the biggest squeeze on household budgets for decades.
---- Primark's sales increased 59% to 3.54 billion pounds, while sales in the group's food businesses rose 6% to 4.34 billion pounds. Its grocery brands include Twinings tea, Jordans cereals, Kingsmill bread and Ovaltine drinks.
The group said its food businesses are experiencing increasing inflationary pressures in areas including raw materials, commodities, supply chain and energy, which it has taken action to offset through operational cost savings and price increases.
It said commodity and energy prices have increased further following Russia's invasion of Ukraine.
More
https://www.reuters.com/business/ab-foods-primark-raise-prices-2022-04-26/
Below, why a “green energy” economy may not be possible, and if it is, it won’t be quick and it will be very inflationary, setting off a new long-term commodity Supercycle. Probably the largest seen so far.
The “New Energy Economy”: An Exercise in Magical Thinking
https://media4.manhattan-institute.org/sites/default/files/R-0319-MM.pdf
Mines, Minerals, and "Green" Energy: A Reality Check
https://www.manhattan-institute.org/mines-minerals-and-green-energy-reality-check
"An Environmental Disaster": An EV Battery Metals Crunch Is On The Horizon As The Industry Races To Recycle
by Tyler Durden Monday, Aug 02, 2021 - 08:40 PM
Covid-19 Corner
This section will continue until it becomes unneeded.
Ruby Princess cruise ship docked in San Francisco with 143 cases of COVID-19
For the third time this year, the same Princess Cruise Lines ship has docked in California with passengers who tested positive for COVID-19.
The Ruby Princess arrived in San Francisco on April 11 after a trip to Hawaii in which 143 passengers on board testing positive with the virus, the city's health department told CBS MoneyWatch. More than 70 people were found to have COVID-19 in March while on the same ship after it returned from a 15-day cruise to the Panama Canal. In January, 12 passengers arriving in San Francisco following a 10-day Mexico cruise on the Ruby Princess were found to have COVID-19 after being randomly tested for the virus.
San Francisco's health department said everyone aboard the Hawaii cruise was vaccinated and that the people who tested positive showed mild or no symptoms.
---- The Centers for Disease Control and Prevention is now investigating the Ruby Princess over the virus outbreaks, along with four other Princess Cruise ships where COVID-19 has surfaced.
Princess isn't the only cruise still line battling with the virus. The CDC is also investigating outbreaks more than a dozen Royal Caribbean cruise ships and more than a dozen Norwegian Cruise Line ships. Cruise ships are required to notify the CDC of any confirmed cases of COVID-19 on board.
Next, some vaccine links kindly sent along from a LIR reader in Canada.
NY Times Coronavirus Vaccine Tracker. https://www.nytimes.com/interactive/2020/science/coronavirus-vaccine-tracker.html
Regulatory Focus COVID-19 vaccine tracker. https://www.raps.org/news-and-articles/news-articles/2020/3/covid-19-vaccine-tracker
Some other useful Covid links.
Johns Hopkins Coronavirus resource centre
https://coronavirus.jhu.edu/map.html
Rt Covid-19
Centers for Disease Control Coronavirus
https://www.cdc.gov/coronavirus/2019-ncov/index.html
The Spectator Covid-19 data tracker (UK)
https://data.spectator.co.uk/city/national
"Why are you dodging like this? They couldn't hit an elephant at this distance."
Union General John Sedgwick, proving to be wrong.
Technology Update.
With events happening fast in the development of solar power and graphene, among other things, I’ve added this section. Updates as they get reported.
Hmm. I hope the sides of the bridge are strong, just in case.
First full-size autonomous passenger bus in the UK begins on-road testing
Paul Ridden April 25, 2022
Fusion Processing has announced that an autonomous public transport project will start on-road testing this week, en route to beginning a new 14-mile pilot service ferrying passengers across a long-span suspension bridge in Scotland later this year.
Fusion Processing has partnered with Stagecoach, Alexander Dennis Ltd, Transport Scotland, Edinburgh Napier University and Bristol Robotics Laboratory for the CAVForth project, which has been in the works since 2020.
The pilot project will see five single-deck SAE Level 4 autonomous Dennis Enviro200 buses rolling over the Firth of Forth via the 1.5-mile-long (2.5-km) Forth Road Bridge to carry passengers between Ferrytool Park & Ride in Fife and the Edinburgh Train and Tram interchange.
Each bus is equipped to carry up to 36 passengers along the new 14-mile (22.5-km) service route, for a potential capacity of 10,000 commuters, students, day trippers and tourists per week.
The buses have been decked out in special livery to easily identify them as autonomous vehicles, and fitted out with Fusion Processing's CAVstar automated drive system, which combines radar, LiDAR and optical cameras with an AI control technologies for Level 4 autonomy in complex traffic scenarios including motorways, major and minor roads, bus lanes, roundabouts, junction and traffic lights.
Bus operator Stagecoach is about to hire a bunch of experienced bus drivers to monitor onboard systems, and each bus will have a safety driver onboard – to take over via a second set of steering and braking systems if problems arise, and also answer questions from passengers.
No passengers will be allowed on the buses during the two-week on-road testing period though, which follows successful completion of virtual simulations, depot-based trials and track testing, but the project partners expect the new autonomous bus service trial to start taking passengers from late local summer.
More
“Tomorrow at sunrise I shall no longer be here.”
Whatever your views on Nostradamus’ powers as a prophet, his last words show he certainly managed to predict his own death.
The sixteenth century seer was found dead the morning after uttering these words to his secretary.
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