Tech
Why Europe Faces An Air Conditioning Problem After Its Red-Hot Summer
Europe is facing a tough winter, as inflation and energy prices continue to rise. The continent also faces tough decisions following its scorching hot summer.
Heat waves in Europe broke records, sparked widespread wildfires and even damaged a busy runway at a London airport.
Unlike the U.S., European countries don’t rely on air conditioning to cope with high temperatures. Fewer than 10% of households in Europe owned air conditioners as of 2016, according to the International Energy Agency.
“If we were looking at the beginning of this summer, it was fairly quiet. We were getting typically 20 inquiries a day maybe for people interested in air conditioning,” said Richard Salmon, director of The Air Conditioning Co., which is based in central London.
Demand for air conditioners spiked as temperatures crossed 100 degrees Fahrenheit in the United Kingdom.
“I’ve been here for 15 years and I’ve never seen anything quite like it,” Salmon said.
As countries around the globe rapidly adopt ways to cool their homes and businesses, it becomes more important to install cooling technology that doesn’t contribute to higher temperatures in the future via carbon emissions.
“It is clear that if no effective mitigation strategies will be put in place on a global scale to cut emissions then this kind of summer and these kinds of events will become the new norm,” said Andrea Toreti, senior climate researcher at the European Commission, the executive body of the EU.
Watch the video to learn more about why large parts of Europe don’t have air conditioning, how ACs contribute to climate change, and new kinds of efficient cooling technologies that can mitigate carbon emissions.
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Why Europe Faces An Air Conditioning Problem After Its Red-Hot Summer
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China and the U.S. may be competing for dominance in artificial intelligence, but some Chinese manufacturers are eyeing the U.S. data center buildout as an opportunity.
CNBC’s Eunice Yoon has the details.
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There’s a land grab underway in the U.S. for perpetual futures, one of the biggest and riskiest parts of the crypto trading world — and prediction markets Kalshi and Polymarket reportedly want a piece of it.
Watch the related video to learn why prediction markets are preparing to invade one of crypto’s biggest and riskiest trades.
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Progressive political candidates have clamored to launch public banks in the lead-up to the 2026 midterm elections. However, there is just one active example in the United States: the Bank of North Dakota. Chartered in 1919, this bank uses tax revenue from the state to fund and execute strategic economic development priorities for North Dakota. The bank has assisted in sales of fossil fuel assets, a presidential library, and general lending to citizens and businesses in need. CNBC’s Garrett Downs reports on this “socialist experiment” unfolding deep in Trump country.
Chapters:
00:00 Introduction
01:14 Strategic investments
03:32 Cowboy socialism
06:34 Politics
Reporter: Garrett Downs
Produced and Shot by: Carlos Waters
Edited by: Andrea Miller
Additional Camera by: David Soltis
Animation: Jason Reginato, Emily Park
Senior Managing Producer: Shawn Baldwin
Additional Footage: Getty Images
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The ‘Socialist’ Bank Thriving In Trump Country
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The conflict in the Middle East is causing price hikes and product shortages across the global economy, from fertilizer to semiconductors.
For medical supply company Gentell, which sources raw materials from around the world, the crisis at the Strait of Hormuz is causing volatility for its business.
CNBC’s Pippa Stevens takes a look at how the company is faring amid the latest global supply chain disruptions.
Watch more in related video.
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Tech
Facebook Data Practices Spark FTC Investigation: Former FTC Commissioner Mozelle Thompson | CNBC
Mozelle Thompson, former FTC commissioner and former Facebook advisor, discusses the FTC’s non-public investigation into Facebook’s data practices. He also weighs in on a report that President Donald Trump wants to go after Amazon on antitrust concerns.
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