New method to predict solar storms developed

Agencies
December 9, 2018

Kolkata, Dec 9: A team of scientists have found a way to predict the Sun's activity over the coming decades, which could help better prepare against solar storms that may cripple satellite communications and Earth's electric power grids.

In a study published in the journal Nature Communications, the team also showed that there is little possibility of a Sun-induced climate cooling in the coming year.

Researchers from Indian Institute of Science Education and Research (IISER) Kolkata and Inter-University Centre for Astronomy and Astrophysics (IUCAA) Pune put forward a prediction for the upcoming sunspot cycle which reveals the expected conditions in space over the next decade. 

"This research has direct relevance for protection of India's space-based technological assets and the global climate," said Sourav Pal, Director of IISER Kolkata.

Using a novel technique devised by Professor Dibyendu Nandi from IISER Kolkata and his PhD student Prantika Bhowmik, the team predicts that the next sunspot cycle will start about a year after the end of the current cycle and peak in 2024.

They also predict that space environmental conditions over the next decade would be similar or slightly harsher compared to the last decade. 

"The space weather is governed by a constant stream of charged particles -- electrons and protons -- flowing out from the Sun and permeating the solar system," said Nandi, who is also a research associate at IUCAA.

Occasionally, the Sun releases spurts of charged winds that travel towards the Earth at astonishing speeds, he said.

These result in space storms that can cripple satellites, trip electric power grids and lead to large-scale telecommunication breakdowns.

"It has been known for some time that the cycle of sunspots control all these aspects of solar activity and determines its influence on our space environment and climate," said Bhowmik. 

Astrophysicists have been attempting for decades to devise methods to predict the future occurrence of sunspots.

Sunspots can measure up to ten times the size of Earth, with magnetic fields ten thousand times stronger.

These spots have been observed through telescopes since the times of Galileo. 

According to the researchers, the current sunspot cycle dubbed as solar cycle 24 is just ending and it has been one of the weakest cycles in a century.

In fact, over the last several decades, successive sunspot cycles have significantly weakened in strength.

This association has led to scientists to speculate a significantly weak sunspot cycle 25 or an impending disappearance of sunspots for many decades would alleviate global warming and bring down the Earth's temperature.

The research, which was supported by the Indian Ministry of Human Resource Development as well as NASA, found no evidence of an impending disappearance of sunspot cycles.

The team concluded that speculations of an imminent Sun induced cooling of global climate is very unlikely.

"The behaviour of the magnetic field, and the particles emitted from the Sun has a profound effect on the Earth's climate and living conditions of the Earth's inhabitants, as well as various other activities that involve long-range communication and satellite technology," said Somak Raychaudhury, Director of IUCAA.

"Bhowmik and Nandy's models show considerable predictive power, and it looks like we will now be able to predict the fluctuations of solar activity much more reliably," he said.

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News Network
February 5,2020

Feb 5: Tesla is making Elon Musk a lot richer without paying him a dime.

A blistering stock rally has bolstered the value of CEO Musk's 19% stake in the electric car maker by $16 billion since the start of 2020, to $30 billion.

Tuesday's steep climb in the share price could sweeten Musk's payday under his record-breaking compensation package, which is built on stock options that rely on market value targets. Two milestones have now been achieved that could see Musk unlock options worth $1.8 billion.

The controversial chief executive, who is also the majority owner and CEO of rocket maker SpaceX, recently testified that he did not have a lot of cash as he successfully defended himself in a defamation lawsuit. He previously has taken loans using his Tesla shares as collateral.

Musk does not take a salary, choosing instead a risky options package that envisions the stock market value of Tesla rising to $650 billion over 10 years, a prospect that was derided by some investors when the deal was announced in 2018.

That target now looks less crazy. Shares of Tesla have rallied over 50% since the company posted its second consecutive quarterly profit last Wednesday, which was viewed as a major accomplishment for a company competing against established automotive heavyweights including General Motors Co  and BMW.

Tesla shares have climbed about 400% since early June, helped by the company's better-than-expected financial results and ramped-up production at its new car factory in Shanghai.

On Tuesday, Tesla surged as much as 24% before falling back in the final minutes of the trading session to end the day up 13.7%. That put its market capitalization at $160 billion, almost twice the combined value of Ford Motor and General Motors.

The shares had also rallied on Monday, partly fueled by Panasonic Corp's 6752.T saying its automotive battery venture with Tesla was profitable for the first time.

The options Musk was awarded in 2018 vest incrementally based on targets for Tesla's stock market value and its financial performance. The market capitalization would have to sustainably rise by $50 billion increments over the agreement's 10-year period, with the full package payout reached if the market cap reaches $650 billion, as well as the company's meeting revenue and profit targets.

Musk is on his way to seeing his first two tranches of options vest. He achieved operational targets on revenue and adjusted earnings last year.

The rise in Tesla's market capitalization last month to a target of $100 billion opened the way for Musk's first tranche of options to vest. With Tuesday's surging share price, the market capitalization blew past the second target of $150 billion, opening the way for the second tranche to vest. Tesla's market capitalization must stay at or above each target level for one- and six-month averages for each set of options to vest.

Tesla was valued at about $52 billion when shareholders approved the pay package in March 2018, a time when the company faced a cash crunch, production delays and increasing competition from rivals.

A full payoff for Musk would surpass anything previously granted to U.S. executives, according to Institutional Shareholder Services, a proxy advisor that recommended investors reject the pay package deal at the time.

Musk currently owns about 34 million Tesla shares, and his compensation package would let him buy another 20.3 million shares if all his options tranches vest.

When Tesla unveiled Musk’s package, it said he could in theory reap as much as $55.8 billion if no new shares were issued. However, Tesla has since awarded stock to employees and last year sold $2.7 billion in shares and convertible bonds, diluting the value of the stock.

Musk has transformed Tesla from a niche car maker with production problems into the global leader in electric vehicles, with U.S. and Chinese factories. So far it has stayed ahead of more established rivals including BMW and Volkswagen.

Many investors remain skeptical that Tesla can consistently deliver profit, cash flow and growth. More Wall Street analysts rate Tesla "sell" than "buy," and the company's stock is the most shorted on Wall Street.

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Agencies
March 8,2020

New Delhi, Mar 8: In order to spread awareness, a special COVID-19 mobile phone caller tune was launched by all telecom operators with basic infection prevention messages played when a caller dials-out, Ministry of Health and Family Welfare said on Saturday.

"In order to spread awareness about COVID-19, a special COVID-19 mobile phone caller tune was launched by all telecom operators. Over 117.2 crore subscribers of BSNL, MTNL Reliance Jio, Airtel and Vodafone-Idea are being progressively reached out to through SMSs and Call Backs," Ministry of Health and Family Welfare said in a press statement.

"As many as 52 laboratories are now operational across the country for testing the COVID-19 virus. An additional 57 laboratories have been provided with Viral Transport Media and swabs for sample collection," the statement added.

India has 39 confirmed cases of deadly coronavirus so far. The disease has caused deaths of 3200 people globally. 

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Agencies
March 7,2020

New Delhi, Mar 7: The Union government has issued a Global Invite for Expression of Interest for disinvestment in Bharat Petroleum Corporation Limited (BPCL) from prospective bidders with a minimum net worth of $10 billion as of Saturday.

The EoI submissions can be made till May 2, whereas investor queries will be entertained till April 4.

Another condition pertains to a maximum of four members are permitted in a consortium, and the lead member must hold 40 per cent in proportion. Other members of the consortium must have a minimum $1 billion net worth.

The EOI allows changes in the consortium within 45 days, though the lead member cannot be changed.

The GoI proposes to disinvest its entire shareholding in BPCL comprising 1,14,91,83,592 equity shares held through the Ministry of Petroleum and Natural Gas, which constitutes 52.98 per cent of BPCL's equity share capital, along with the transfer of management control to the strategic buyer (except BPCL's equity shareholding of 61.65 per cent in Numaligarh Refinery Limited (NRL) and management control thereon).

The shareholding of BPCL in NRL will be transferred to a Central Public Sector Enterprise operating in the oil and gas sector under the Ministry and accordingly is not a part of the proposed transaction.

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