All posts tagged: multibillion

“Bye-Bye Data Center”: German Town Rejects Multi-Billion Euro Construction Project

“Bye-Bye Data Center”: German Town Rejects Multi-Billion Euro Construction Project

Via Remix News, Germany is increasingly rebelling against multi-billion-euro data centers, reflecting a trend seen in other Western countries. This time, Groß-Gerau, a town outside of the mega internet hub of Frankfurt, is the latest to reject the construction of a major data center over fears of rising power costs, diminished water and environmental resources, ugly aesthetics, and skepticism over job creation. Major U.S. investors were behind the push to build the 174-megawatt data center, but local residents and politicians have successfully stopped construction of the five-building complex, which represented €2.5 billion in investment. The city parliament of the southern Hessian district town officially stopped the construction of the project by Vantage Data Centers. According to German media reports, the assembly rejected the proposal in an 18 to 14 vote, according to Welt newspaper. The opposition was led by a coalition of mostly left-wing and libertarian parties — the SPD, Greens, FDP, Free Voters, and the Left Party. Meanwhile, the business-friendly CDU and the Free Voters’ Association backed the project. Although the investors had already purchased the …

Cambodia extradites Chen Zhi, who allegedly ran multi-billion scam and gambling rings

Cambodia extradites Chen Zhi, who allegedly ran multi-billion scam and gambling rings

Cambodia extradites billionaire businessman Chen Zhi to China, where he is accused of running a vast scam empire spanning cryptocurrency, illegal gambling, and labor camps. Prince Group, the company being used to commit the alleged crimes, has had its operations in Cambodia suspended. The UK has sanctioned the company as a whole. Meanwhile, his extradition to China will see him facing charges, with the official translated announcement from the Ministry of Public Security of the People’s Republic of China stating: “… public security authorities will soon issue warrants for the first batch of key members of Chen Zhi’s criminal group, determined to apprehend all fugitives. “Public security authorities warn criminals to recognize the situation, stop before it’s too late, immediately turn themselves in, and seek lenient treatment.” Zhi was arrested alongside two other Chinese nationals, Xu Ji Liang and Shao Ju Hui. Last month, Zhi was also stripped of his Cambodian nationality by royal decree, which he’d acquired in 2014. Businessman Chen Zhi was under investigation since 2020 According to reports, Chinese authorities had been investigating …