France's Tally of Negative Power Prices Just Beat the 2024 Total
As of Monday morning, Europe's second biggest power market has had 363 hours of negative prices this year, according to a Bloomberg analysis of EPEX Spot SE data. Neighboring markets like Germany and Spain have also seen record numbers for the season.
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TechCrunch
38 minutes ago
- TechCrunch
OpenAI condemns Robinhood's ‘OpenAI tokens'
OpenAI wants to make clear that Robinhood's sale of 'OpenAI tokens' will not give everyday consumers equity — aka stock — in OpenAI, the company said in a post on X from its official newsroom account. OpenAI says it does not endorse Robinhood's effort, nor was it involved in facilitating the token sale. 'These 'OpenAI tokens' are not OpenAI equity,' said OpenAI's newsroom account. 'We did not partner with Robinhood, were not involved in this, and do not endorse it. Any transfer of OpenAI equity requires our approval—we did not approve any transfer. Please be careful.' These 'OpenAI tokens' are not OpenAI equity. We did not partner with Robinhood, were not involved in this, and do not endorse it. Any transfer of OpenAI equity requires our approval—we did not approve any transfer. Please be careful. — OpenAI Newsroom (@OpenAINewsroom) July 2, 2025 OpenAI's statement is a response to Robinhood's announcement earlier this week that it would started selling so-called tokenized shares of OpenAI, SpaceX, and other private companies to people in the European Union. Robinhood says the launch represents an attempt to give everyday people exposure to equity in the world's most valuable private companies via blockchain. Hours after announcing these token sales, Robinhood's stock price shot to an all-time high. But stock in private companies like OpenAI and SpaceX are not available to the public. That's what makes them private. They sell shares to investors of their choosing. So OpenAI is openly disavowing Robinhood's effort. In response to OpenAI's condemnation, Robinhood spokesperson Rouky Diallo told TechCrunch that OpenAI tokens were part of a 'limited' giveaway to offer retail investors indirect exposure 'through Robinhood's ownership stake in a special purpose vehicle (SPV).' Techcrunch event Save $450 on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW That suggests Robinhood owns shares of a SPV that controls a certain number of OpenAI's shares. Like the tokens, shares of SPVs are not direct ownership of shares, either. They are ownership in a vehicle that owns the shares. In one way or another, Robinhood seems to be tying the price of its new tokenized product to the OpenAI shares in that SPV. But shares prices in an SPV can also differ from prices of an actual share of stock, as well. OpenAI declined to comment further. Robinhood did not respond to TechCrunch's additional questions about its SPV. Private companies are known to push back against anything that could influence how their equity is valued. In recent months, humanoid robotics startup Figure AI sent cease-and-desist letters to two brokers running secondary markets that were marketing the company's stock. Of course, these situations are different, but most startups don't want people to believe that they've authorized share sales if they haven't.
Yahoo
44 minutes ago
- Yahoo
Tougher rules needed for utility firms digging up roads, MPs say
Utility companies should be forced to guarantee repairs to roads for five years after digging them up, MPs have said. A new watchdog should also be appointed to manage the disruption caused by firms carrying out work on pipes and cables in England. Transport Committee chairwoman Ruth Cadbury said a pattern of repeated works can feel like a 'recurring nightmare' for road users. Under current rules, utility firms are responsible for the quality of the road surfaces they have reinstated for two years after works have completed, or three years in the case of deeper excavations. The committee called for that period to be extended to five years so council tax payers do not have to pick up the bill for repairing potholes caused by shoddy remediation work. Other recommendations from the committee included: – Tighter use of immediate permits enabling companies to dig up roads with little or no notice given to the local authority. – A new streetworks commissioner, similar to the Scottish roadworks tsar, to monitor performance and resolve disputes. – The wider use of lane rental schemes, charging firms up to £2,500 a day to incentivise quicker completion of works. – Better co-operation so utility firms and housing developers can work on the same bit of road at the same time rather than have repeated closures. Labour MP Ms Cadbury acknowledged that ageing infrastructure under the roads needed to be maintained and upgraded and extra cables and pipes were required for new homes. 'But as every road user knows, street works can feel like a recurring nightmare,' she said. The committee's recommendations would make a huge difference if they were implemented, she said. 'Upping the quality of reinstatement works will help stem the never-ending plague of potholes on local roads. 'Lane rental schemes should provide a financial incentive to complete works on time. 'And longer-term planning and earlier notification should help councils prevent the infuriating occurrence of multiple roads being closed in one locality, or the same road being dug up multiple times in one year.' A Department for Transport spokesman said: 'We wholeheartedly agree that streetworks are far too disruptive for drivers and that is why we have taken action to prevent the impact on drivers. 'We've cracked down on streetwork companies overrunning or leaving roads poorly repaired by ramping up fines and giving local authorities new powers to coordinate roadworks more efficiently and will put measures in place so 50% of surplus lane rental funds must be invested into highway maintenance. 'We are determined to end the pothole plague, which is why we are already investing £1.6 billion this year to help local authorities resurface local roads and fix the equivalent of up to seven million extra potholes this year.'
Bloomberg
an hour ago
- Bloomberg
In the City: Is the UK Housing Market Running Out of Steam?
Just a few months ago, the UK housing market seemed to be finding its footing. That hope has since faded. In June, house prices fell to their lowest rate in over two years, according to new figures from Nationwide Building Society. This surprised economists who had been expecting a small uptick. The decline follows the government's April decision to raise transaction taxes—a move that's added to the burden for buyers already grappling with high borrowing costs. On this week's In the City, host Allegra Stratton is joined by Bloomberg Opinion columnist Marcus Ashworth and European real estate reporter Damian Shepherd to examine the UK housing market's slowdown—and what might come next.
