Business
Low water levels push up shipping costs on Europe’s rivers amid heatwave | Shipping industry
Low water levels after heatwaves and drought are limiting shipping on some of Europe’s biggest rivers including the Rhine and the Danube and pushing up transport costs.
As much of Europe swelters in hot temperatures, water levels in its main rivers have fallen. This is affecting shipping along the Rhine – one of Europe’s key waterways – south of Duisburg and Cologne in Germany, including the choke point of Kaub, forcing vessels to sail about half full.
Rainfall over the weekend caused only a moderate rise in water levels, according to commodity traders.
Shallow water has prompted ship operators to impose surcharges on freight rates to compensate for vessels not sailing fully loaded, increasing costs for cargo owners. Traders told Reuters that loads that are normally transported on one vessel were being carried on several barges.
Most of the nearly 200m tonnes of cargo shipped on German rivers each year – from coal to car parts, grains and food to chemicals – is transported on the Rhine, the second longest river in central and western Europe after the Danube.
Unusually low water levels on the Danube in Hungary are affecting shipping and agriculture, as temperatures peaked at 35C in Budapest last week. This means cargo ships must leave behind more than half of their loads and can only operate at 30-40% capacity, Attila Bencsik, the deputy president of the Hungarian Shipping Association, said.
In Poland, the water level in the Vistula, the country’s longest river, has fallen to its lowest ever recorded level in Warsaw as temperatures stayed above 30C for a prolonged spell and there has been little rainfall.
Three years ago, German companies faced supply bottlenecks and production problems after a drought and heatwave led to unusually low water levels on the Rhine.
That summer, the French energy supplier EDF had to temporarily reduce output at its nuclear power stations on the Rhône and Garonne rivers as heatwaves pushed up their temperatures, restricting its ability to use their water to cool the plants.
More rain is forecast in Germany in the coming days, which could raise water levels.
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The lack of rainfall is causing problems elsewhere. In Yorkshire in the UK, water reservoirs have plunged. Data released by Yorkshire Water, which has more than 5 million customers, showed levels had dropped further from 63% recorded in May to 55.8% in June – significantly below the average (81.9%) for this time of year.
Reservoirs are close to half full, with most of the summer still ahead. Yorkshire’s reservoirs have been declining since late January amid the driest spring for 132 years in the county and England’s warmest June on record. During warm weather, water usage usually increases, which further affects reservoir levels. Customers used almost 1.5bn litres on 30 June – 200m litres above Yorkshire Water’s typical daily output.
Another UK water company, Severn Trent, has urged its 8 million customers to be “mindful of their water use”. It said there was less water in reservoirs and rivers and while there was no plan for a hosepipe ban, it remained an option.
Business
IBM Unveils New Power11 Chips For AI In Business
IBM has announced a new line of data center chips and servers, introduced on Tuesday, designed to enhance power efficiency and streamline artificial intelligence integration within business operations. This marks the initial significant update to IBM’s “Power” chip line since 2020.
These new Power11 chips are specifically engineered for data centers, historically competing with offerings from Intel and Advanced Micro Devices. IBM’s Power systems, similar to Nvidia’s AI servers, constitute an integrated package of both hardware chips and proprietary software. Tom McPherson, general manager of Power systems at IBM, stated that this integrated approach facilitated a focus on system reliability and security. The Power11 systems will be commercially available starting July 25.
The Power11 systems are designed for continuous operation, eliminating the need for planned downtime associated with software updates. Unplanned downtime for these systems averages slightly over 30 seconds annually. IBM also detailed that these systems are equipped to detect and respond to ransomware attacks within one minute, a mechanism to counter data encryption attempts by malicious actors seeking ransom. Further integration is planned for the fourth quarter of this year, as IBM intends to combine the Power11 with Spyre, its AI chip introduced in 2023.
McPherson clarified IBM’s strategic positioning regarding artificial intelligence, indicating that the company does not aim to directly compete with Nvidia in the domain of AI system creation and training. Instead, IBM’s focus is on simplifying AI deployment for inference. Inference, in this context, refers to the practical application of an AI system to accelerate various business tasks. “We can integrate AI capabilities seamlessly into this for inference acceleration and help their business process improvements,” McPherson affirmed in a recent interview. He added, regarding the Power11’s capabilities, “It’s not going to have all the horsepower for training or anything, but it’s going to have really good inferencing capabilities that are simple to integrate.”
Business
Trump’s One Big Beautiful Bill Could Set AI Chipmakers up for Fresh Gains
Wall Street’s favorite tech trade could be about to get a fresh boost.
President Donald Trump signed the One, Big, Beautiful Bill Act into law on July 4, and there are some parts of the legislation that could unleash further gains for AI semiconductor stocks,
Companies in the chip space are poised to receive a significant tax benefit as the administration intensifies its quest to incentivize chipmakers to build cutting-edge AI tech in the US.
Under a provision of the bill, companies that break ground on new chipmaking facilities in the US before 2026 may be eligible for a 35% tax credit, up from 25%.
Shay Boloor, Chief Market Strategist at Futurum Equities, said there are a handful of AI stocks that are most likely to benefit, flagging two immediate likely winners.
“Intel and Micron get the most immediate lift,” he said. “Intel’s turnaround is tied to Foundry Services, and this credit is oxygen for their capex model. Micron, with its US-based memory investment, is a quiet winner too.”
He added that he still sees Nvidia as the sector’s top name, noting that. Taiwan Semiconductor Manufacturing Company is likely to receive a boost as well.
Others echoed Baloor’s optimism around the bill’s impact on AI chip stocks.
“There can be little doubt that the Advanced Manufacturing Investment Credit (AMIC) under the OBBB will materially benefit the manufacturers of US fab plants, specifically for already announced investments by TSMC ($165B) and Micron ($200B), and to a lesser degree, Intel,” said Scott Bickley, an advisory fellow at Info-Tech Research Group.
Eugenia Mykuliak, Founder & Executive Director of financial services provider B2PRIME Group also highlighted the benefits for chipmakers that are either building semiconductor facilities on US soil or have plans to.
“It could also boost stock performance for companies heavily invested in domestic chip fabrication plants, since investors like it when there’s clear policy support for long-term growth,” she said of the new policy. “It sends a strong message that the government is committed to backing the sector for the long haul, which helps companies plan with more confidence.”
Business
GPTBots.ai Showcases Business AI Agent Solutions at The MarTech Summit Hong Kong, Helping Enterprises Bridge the AI Adoption Gap
HONG KONG, July 09, 2025 (GLOBE NEWSWIRE) — As enterprises worldwide race to adopt AI, GPTBots.ai made its mark at The MarTech Summit Hong Kong, Asia’s premier marketing technology conference attended by world-renowned brands such as JPMorgan, Yahoo, Nike, and DBS, alongside leading Hong Kong enterprises including Cathay Pacific, Hong Kong Disneyland, and The Hong Kong Jockey Club.
With 85% of enterprises prioritizing AI adoption in 2024 (Gartner), yet struggling with implementation gaps, GPTBots.ai demonstrated how its no-code AI Agent platform turns complex AI concepts into deployable solutions-without coding or data science teams.
Spotlight: Real-World AI in Action
At the summit, GPTBots.ai engaged with forward-thinking organizations, including:
A Top Hong Kong University: Their admissions team explored AI-powered chatbots to streamline student inquiries and application processes, aiming to:
Automate 80% of FAQs (e.g., program requirements, deadlines).Guide applicants through form-filling with smart error detection.Free staff to focus on students’ in-depth support.
A Leading Hong Kong Airline: Their tech team discussed internal efficiency AI Agents for:
AI search to make enterprise knowledge instantly accessible and empower every role.Reducing IT helpdesk tickets by 50% via self-service troubleshooting.
Why GPTBots.ai Stood Out
Enterprise-Ready: Built to adapt to your business, no matter the size or complexity.Proven at Scale: Powers AI Agents for financial services, healthcare, and retail giants.End-to-End Capabilities: From strategy to deployment, we manage every step of your AI journey.
“The gap isn’t AI potential-it’s practical adoption,” said Tanya Quan, Marketing Director at GPTBots.ai. “We’re helping enterprises skip the lab and go straight to ROI.”
About GPTBots.ai
GPTBots.ai is an enterprise AI agent platform that empowers businesses to streamline operations, enhance customer experiences, and drive growth. Offering end-to-end AI solutions across customer service, knowledge search, data analysis, and lead generation, GPTBots enables enterprises to harness the full potential of AI with ease. With seamless integration into various systems, and support for scalable, secure deployments, GPTBots is dedicated to reducing costs, accelerating growth, and helping businesses thrive in the AI era.
To learn how GPTBots can accelerate your AI transformation, visit gptbots.ai.
Media Contact:
Contact: [email protected]
Website: www.gptbots.ai
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9039b0e4-6355-4e0c-83d2-ca91953120f9
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