California readies to prevent blackouts, but threats remain
ADAM BEAM, 19 May 2021
California’s top energy regulators on Tuesday said the state is better prepared to avoid last summer’s rotating blackouts, but they cautioned the power grid of the nation’s most populous state is still vulnerable to extreme heat waves that could force more outages later this year.
State officials say they have acquired an additional 3,500 megawatts of capacity ahead of a likely scorching summer that threatens to increase demand beyond what the grid can handle. That includes an additional 2,000 megawatts of batteries designed to store energy generated from renewable sources — like solar — that stop working when it gets dark.
In general, one megawatt of energy is enough to power hundreds of homes, depending on how it is generated. Continue reading “Article: California readies to prevent blackouts, but threats remain”
CFTC Orders Deutsche Bank to Pay $30 Million Penalty for Manipulation, Attempted Manipulation, and Spoofing In the Precious Metals Futures Markets
CFTC, 29 January 2018
The Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against Deutsche Bank AG (DB AG) and Deutsche Bank Securities Inc. (DBSI) (collectively, DB), requiring DB to pay a $30 million civil monetary penalty and to undertake remedial relief. The Order finds that from at least February 2008 and continuing through at least September 2014, DB AG, by and through certain precious metals traders (Traders), engaged in a scheme to manipulate the price of precious metals futures contracts by utilizing a variety of manual spoofing techniques with respect to precious metals futures contracts traded on the Commodity Exchange, Inc. (COMEX), and by trading in a manner to trigger customer stop-loss orders.
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UBS rogue trader’s $2.3-billion ‘naked gamble’ nearly destroyed bank, court told
Estelle Shirbon, Michael Holden
Reuters, 14 September 2012
Former UBS trader Kweku Adoboli arrived at Southwark Crown Court in London Sept. 14, 2012. Adoboli, was arrested a year ago when a loss of $2.3-billion came to light, and was charged with fraud and false accounting.
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