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World’s most powerful tidal turbine gets millions in funding round



An innovative form of ocean energy generation is set to go into commercial production after a crowdfunding round raised £7 million ($8.97 million).

Orbital Marine Power, a Scottish engineering company, will use the money to construct a production model of its Orbital O2 2MW turbine, which it claims will be the “most powerful tidal generating platform in the world” when launched.

In a statement Thursday, it described the unit as a floating turbine that “can be towed, installed and easily maintained.” It is made up of a 73-meter long “superstructure” that supports two 1 megawatt (MW) turbines on each side.

The scheme has already locked in several supporting grants in addition to equity funding, with some coming from the Scottish government.

Orbital Marine Power’s CEO, Andrew Scott, said that the firm was “delighted” with the funding result.

“It’s a terrific endorsement of our technology and a clear signal that the U.K. public is hugely supportive of seeing tidal energy brought into the domestic and global energy mixes,” Scott added.

“The whole team at Orbital Marine are excited to be moving forwards with this flagship project and deliver the first O2 unit for costs similar to offshore wind and so provide the basis for a new and sustainable industry.”

Orbital Marine Power said it was planning to build the turbine over the next 12 months. It will be deployed at the European Marine Energy Centre, in Orkney, next year.

The last few months have seen Orbital Marine Power announce a number of agreements relating to its newest turbine.

Towards the end of 2018, the company revealed it had signed an agreement to demonstrate its floating tidal technology at the Morlais Tidal Energy Project at Anglesey, an island off the coast of Wales.

In 2016, the business launched its SR2000 turbine, which generated more than 3 gigawatt hours of electricity during its initial 12-month test program.

The European Commission, the legislative arm of the EU, has described “ocean energy” as being both abundant and renewable. It’s estimated that ocean energy could potentially contribute around 10 percent of the European Union’s power demand by 2050, according to the Commission.

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Top CEOs in Germany for 2019, according to Glassdoor



Taking up any leadership role in business requires a lot of responsibility, especially when it comes to making major decisions that require considering what’s best for a company. Yet that doesn’t tend to be the only quality that employees look for when it comes to management.

Whatever those values are, some CEOs are making a great impression on their workers, with Glassdoor having revealed which bosses are currently winning over the German workforce.

In this year’s list, leaders who’ve cracked the top 10, have an approval rating of 93 percent or above, and come from a whole host of industries, with automakers making a frequent appearance.

One leader who continues to hold a spot in the top 10, is Daimler’s Dieter Zetsche. Zetsche has appeared in all five years since the German rankings began. In May 2019, after the results were collated, resigned from his position on the company’s board of management.

To gather the results, Glassdoor assessed online reviews posted by workers from Germany. Employees are also asked to rate several factors tied to their employment experience, including sentiment around their CEO’s job performance, on top of rating workplace features like senior management among others.

“More and more, we’re seeing top CEOs make decisions to shape the culture of their organizations to help recruit and retain quality talent, which has a direct correlation to fueling business success,” Christian Sutherland-Wong, Glassdoor president and chief operating officer, said in a statement.

To be eligible, a business must have a minimum of 1,000 staff members and receive at least 20 CEO approval ratings and 20 senior management ratings between the course of May 2018 and April 2019.

Here are the highest-rated CEOs that are winning over German workers:

10. Bain & Company

CEO / Worldwide Managing Partner: Manny Maceda
Approval Rating: 93 percent

Bain’s office in Chicago

Source: Bain & Company

9. Merck KGaA

CEO: Stefan Oschmann
Approval Rating: 93 percent

8. Continental

CEO: Elmar Degenhart
Approval Rating: 94 percent

7. HubSpot

CEO: Brian Halligan
Approval Rating: 94 percent

MIT graduate Brad Coffey is the Director of Strategy and Corporate Development at HubSpot, photographed in Cambridge on Wednesday, September, 14 2011.

Wendy Maeda/The Boston Globe | Boston Globe | Getty Images

6. Westaflex

CEO: Peter Westerbarkey
Approval Rating: 94 percent

5. MHP – A Porsche Company

CEO: Ralf Hofmann
Approval Rating: 95 percent

4. Robert Bosch

CEO: Volkmar Denner
Approval Rating: 96 percent

The Robert Bosch GmbH logo sits on the exterior of Messe Stuttgart exhibition center as automobiles pass in Stuttgart, Germany, on Monday, July 18, 2016.

Michael Nagle | Bloomberg | Getty Images

3. SAP

CEO: Bill McDermott
Approval Rating: 97 percent

2. Daimler

1. Roche

CEO: Severin Schwan
Approval Rating: 99 percent

Severin Schwan, the man who governs the world’s largest biotech group, Roche, has been crowned as the most-liked CEO by German employees.

Having held the C-Suite position since 2008, Schwan has been a part of the overall multinational firm since he graduated from university in 1993, where he started off as a trainee in the corporate finance field. The CEO has also been a member of Roche Holding’s board of directors since 2013.

This is the first time that the Swiss healthcare firm has made an appearance in the top CEOs list for Germany, and its CEO has secured a highly-coveted percentage score of 99 percent.

Severin Schwan, chief executive officer Roche Holding.

Scot Eells | Bloomberg | Getty Images

Green traffic light for bicycles at Brandenburger Tor (Brandenburg Gate) in the german capital Berlin

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SoftBank Vision Fund investors want to join 2nd fund: Masayoshi Son



Masayoshi Son, chairman and chief executive officer of SoftBank Group at the SoftBank World 2018 event in Tokyo, Japan.

Kiyoshi Ota | Bloomberg | Getty Images

Most investors in SoftBank Group’s $100 billion Vision Fund want to join the group’s forthcoming second fund, founder and Chief Executive Masayoshi Son said on Wednesday, adding discussions would begin soon.

The entrepreneur said in May a second fund would launch “soon”, with SoftBank likely to be the only investor initially.

Raising further funds is essential if Son is to extend his spending spree on late-stage startups around the world.

Investors in the first fund include the sovereign wealth funds of Saudi Arabia and Abu Dhabi, Apple and Foxconn, formally known as Hon Hai Precision Industry Co Ltd.

The Vision Fund will ramp up its employee numbers to 1,000 from 400 currently, Son said at the group’s annual general meeting.

The fund’s head, Rajeev Misra, said he sees investment rising to 100-150 companies, from around 80 at present.

Internet firms now dominate rankings of the world’s largest companies but have transformed just two industries, advertising and retail, which make up only a small part of the economy, Son told investors.

While SoftBank has invested in those industries in less mature markets — in, for instance, South Korea’s Coupang and Indonesia’s Tokopedia — its tech bets have been focused on startups looking to disrupt other industries like transport, insurance and healthcare.

Son also said he wants to be the conductor in an AI-driven technological revolution.

“The conductor doesn’t play anything but actually he plays everything,” Son said.

Shareholder responses at the meeting included a plea for Son to take care of his health, concern over the number of injuries at the Fukuoka SoftBank Hawks baseball team, and from one father who said he had taken his son to SoftBank’s headquarters in the hopes of glimpsing the founder.

Outside the venue in Tokyo, Japan’s taxi lobby protested Son’s support for the ride-hailing industry, which remains strictly regulated domestically.

SoftBank portfolio companies including recently listed Uber Technologies and China’s Didi Chuxing control 90% of the industry globally.

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Facebook employee approval for CEO Mark Zuckerberg falls: Glassdoor



Mark Zuckerberg, chief executive officer and founder of Facebook Inc. attends the Viva Tech start-up and technology gathering at Parc des Expositions Porte de Versailles on May 24, 2018 in Paris, France.

Christophe Morin/IP3 | Getty Images News | Getty Images

Facebook CEO Mark Zuckerberg isn’t as overwhelmingly popular among his employees as he once was, recently released Glassdoor data shows.

Zuckerberg fell 39 spots in Glassdoor’s annual ranking of top CEOs for its Employees’ Choice Awards, from No. 16 to No. 55, falling out of the top 20 for the first time since Glassdoor kicked off the survey in 2013.

His employee approval rating remains high, at 94%, according to Glassdoor, but is down from 96% last year. Zuckerberg came in first place in Glassdoor’s first iteration of the ranking in 2013.

The drop in his ranking may reflect internal unease as the company has juggled various publicity crises over the past year. Multiple former Facebook recruiters told CNBC that Facebook has had a harder time recruiting talented new hires since the March 2018 Cambridge Analytica scandal, in which a political research firm improperly accessed user data to target political ads meant to help President Donald Trump in the 2016 election.

Facebook’s stock price is also near the same level it was in January 2018, which may also have hurt the rankings, as many employees receive stock as part of their compensation.

Zuckerberg lagged behind tech peers such as Google CEO Sundar Pichai, who also received a 94% CEO approval rating but came in 46th place overall.

But Zuckerberg still came ahead of Apple CEO Tim Cook, whose approval rating was 92%, landing him in the 69th spot on the list.

WATCH: Why Facebook’s business model is only now coming under fire

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