Chinese factory activity slumps to lowest for a year as demand slows

An index complied by HSBC shows the manufacturing sector contracted in April, with layoffs and a cutback in procurement indicating further challenges ahead

China’s manufacturing activity recorded its worst contraction in a year in April, a survey showed on Monday, as subdued domestic demand weighed on growth in the world’s second-largest economy.

An index of factory activity compiled by HSBC came in at 48.9, the weakest since 48.1 in the same month last year, it said in a statement. A reading below 50 indicates recession.

Continue reading…

Tesla’s Big Bet on Building Batteries for Your Home

Tesla is building a new generation of batteries that could power homes, businesses and even the grid. Bloomberg’s Tom Randall takes a look at the emerging market for new energy storage.

BPlayer(null, {“id”:”TTwINfBxSa6nFZ7WpwfMjw”,”htmlChildId”:”bbg-video-player-TTwINfBxSa6nFZ7WpwfMjw”,”serverUrl”:”http://www.bloomberg.com/api/embed”,”idType”:”BMMR”,”autoplay”:false,”video_autoplay_on_page”:false,”log_debug”:false,”ui_controls_popout”:false,”use_js_ads”:true,”ad_code_prefix”:””,”ad_tag_gpt_preroll”:true,”ad_tag_gpt_midroll”:true,”ad_tag_sz_preroll”:”1×7″,”ad_tag_sz_midroll”:”1×7″,”ad_network_id_preroll”:”5262″,”ad_network_id_midroll”:”5262″,”ad_tag_cust_params_preroll”:””,”ads_vast_timeout”:10000,”ads_playback_timeout”:10000,”wmode”:”opaque”,”use_comscore”:true,”comscore_ns_site”:”bloomberg”,”comscore_page_level_tags”:{“bb_brand”:”bbiz”,”bss_cont_play”:0,”bb_region”:”US”},”use_chartbeat”:true,”chartbeat_uid”:”15087″,”chartbeat_domain”:”bloomberg.com”,”continuous_play_previous_url”:”http://www.bloomberg.com/news/videos/2015-05-01/tesla-bets-big-on-batteries”,”use_share_overlay”:true,”share_metadata”:{“canonical_url”:”http://bloom.bg/1QSWWA1″},”vertical”:”business”,”zone”:”video”,”source”:”BBIZweb”,”module_conviva_insights”:”enabled”,”conviva_account”:”c3.Bloomberg”,”width”:640,”height”:360,”ad_tag”:””,”ad_tag_midroll”:””,”offsite_embed”:true});
Source: Bloomberg

Full Elon Musk presentation after the jump

Tesla Powerwall: Energy Storage for a Sustainable Home

Source: Tesla Motors


Austerity policies and failures on public health have cost lives, say senior doctors

Coalition’s closeness to food and drinks industry prevents it from tackling obesity and alcohol misuse, while welfare changes have increased suicide rate, letter says

Austerity policies and the coalition’s failure to tackle obesity and alcohol misuse has damaged the nation’s health and cost lives, a group of senior doctors have warned.

Welfare changes have increased the suicide rate and the government’s closeness to food and alcohol producers has prevented tough action being taken, they claim.

Related: US and British health specialists support the NHS | Letters

Continue reading…

The readers’ editor on… the pluses and perils of journalistic partnerships | Chris Elliot: Open door

The Guardian’s writers and editors failed to get their heads around a complex exposé on which our partners in the International Consortium of Investigative Journalists had been working for months

Newspapers have not traditionally been the greatest fans of sharing stories with other news organisations. Even nominating a pool of photographers to record an event and share the images can be difficult to arrange.

However, in recent years the Guardian has developed links with other newspapers and organisations that have proved crucial in bringing stories to readers such as the WikiLeaks cables and the NSA revelations of Edward Snowden. More recently the Guardian joined with the International Consortium of Investigative Journalists (ICIJ) in a series of articles investigating HSBC’s private banking subsidiary in Geneva. The series was published in the Guardian, as well as other media organisations.

Continue reading…

100 days of solitude: Syriza struggles as Greeks once again stare into the abyss

As Syriza nears its 100th day in office, Alexis Tsipras walks a fine line between eurozone compromise and being accused of submitting to Angela Merkel

In the countdown to Syriza marking 100 days in office, Greece got its first crisis monument. Arms outstretched, mouth wide open, his face locked in despair, the sculpture depicts a man dangling from a financial index in free fall. Below, his world of concrete and stone lies broken and smashed.

Officially known as the “crisis work”, the art piece has attracted a steady flow of spectators to the place where it has been erected, in the shadow of a bridge on the boulevard that connects Athens to the sea. Flowers lie next to it as if in mourning for all that has passed.

Continue reading…