Firms across Europe have been switching from fossil fuels to electricity for their industrial needs, encouraged by subsidies from EU funds.

While that is helping bring down emissions of climate-warming gases, it has also made firms more vulnerable to power cuts.

And in Spain and Portugal that threat was made painfully clear last year.

On both sides of the border, firms are looking for ways to avoid disruption.

“The industrial sector has been one of the first to look at storage systems, since it can’t have its production drop off too abruptly,” says Miguel Matias, founder of the Portuguese energy services company Self Energy, headquartered in the UK.

“A backup for a few hours, or even minutes, might guarantee that machines don’t get damaged,” he says.

And there have been more recent incidents to spur investment.

At the end of January, Storm Kristin toppled thousands of electricity and telecom poles across central Portugal, cutting power and communications to hundreds of thousands of people – some for weeks.

So, companies and other organisations have been taking action.

In Spain, battery storage capacity has risen almost sevenfold since last April, from about 28 MW before the blackout to 193MW in April 2026, according to the grid operator Red Eléctrica.

And much more capacity is planned.

In December, the IDAE, Spain’s Institute for the Diversification and Saving of Energy, awarded €827m in EU funds to 133 energy storage projects totalling 2,400MW. Around 80% of that is battery storage.

The new capacity will be close to 10 times the amount that Red Eléctrica currently registers on the Spanish grid.

It’s all good news for battery suppliers.

“We are seeing not only an increase in demand, but also a clear evolution in customer requirements,” says Alberto Bodegas, from battery storage company Sungrow.

Traditionally, commercial and industrial clients were looking for partial or full backup solutions, Bodegas says.

Today, Bodegas says customers are demanding more advanced capabilities, such as seamless backup, meaning the switch from grid to backup occurs instantaneously and without any noticeable interruption.

This is particularly critical for sensitive environments such as hospitals and data centres.

Delivery times are also crucial for buyers, currently under tight deadlines linked to EU funding programmes. Battery companies are being pressed to meet increasingly shorter delivery dates, Bodegas says.

Ford Motor Co. CEO Jim Farley is pushing back on Transportation Secretary Sean Duffy’s accusations that the automaker is becoming too reliant on China, calling them “basic misunderstandings” that could have been cleared up with “a simple five-minute call.”

In an interview Wednesday with The Wall Street Journal, Farley rejected allegations in a letter from Duffy accusing Ford of “actively intertwining its future with Chinese state-backed enterprises.”

“These are basic misunderstandings, mistruths, whatever words you want to use,” Farley told the outlet.

“We’re not enabling the Chinese to come here,” Farley added. “Actually, you could argue the opposite is the case.”

DUFFY PUTS FORD ON NOTICE OVER CHINA TIES, WARNS OF SECURITY CONCERNS

Ford Motor Co. CEO Jim Farley is pushing back on Transportation Secretary Sean Duffy’s claims that the automaker is becoming too reliant on China. (Jeff Kowalsky/Bloomberg via Getty Images)

Farley also denied Duffy’s claim that Ford had proposed a “framework” that would make it easier for Chinese automakers to establish joint ventures in the U.S., according to The Wall Street Journal.

“N-O, period,” Farley said. “That’s flatly wrong. Ford does not propose any framework described in the letter. We are America’s car company.” 

The letter, made public Tuesday, urged Ford to reduce its reliance on Chinese companies, prioritize U.S. manufacturing and allied supply chains, and “promote the self-reliance and integrity of the domestic automotive industry.” 

Duffy also pointed to Ford’s battery plant in Marshall, Michigan, which licenses technology from Chinese battery giant CATL.

Duffy’s letter, made public Tuesday, urged Ford to reduce its reliance on Chinese companies. (Reuters/Brian Snyder)

Ford sharply disputed Duffy’s accusations, calling the letter “a wrongheaded attempt to capture headlines at the expense of a company that has done more for American manufacturing than virtually any other in the nation’s history.”

FORD’S US MANUFACTURING EXPANSION TO BRING ‘THOUSANDS AND THOUSANDS OF JOBS,’ LUTNICK SAYS

The automaker said its BlueOval Battery Park Michigan facility is owned and operated by Ford, represents billions of dollars in investment and is expected to create about 1,700 American jobs. 

The company said its agreement with CATL is “a limited technology-licensing and services agreement, not a joint venture or foreign-owned manufacturing operation.”

While Farley has warned that Chinese automakers pose a threat to the U.S. auto industry, he said Ford still has to work with competitors in some areas to remain competitive, according to The Wall Street Journal.

“I sure would love the Secretary to come to Marshall, Michigan, and to Louisville like others in the administration to see our breakthrough technology innovated here in the U.S.,” Farley told the outlet.

Farley also said he was surprised Duffy aired his concerns publicly.

“We have great relationships with them that are informal where we can call each other, in either direction,” Farley said. “And we’ve never been surprised like this.”

FORD TEAMS UP WITH OUTDOOR OUTFITTER FILSON TO LAUNCH NEW BRONCO SUV

While Farley has warned that Chinese automakers pose a threat to the U.S. auto industry, he said Ford must also work with competitors in some areas to remain competitive. (Jeff Kowalsky/Bloomberg via Getty Images )

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On Wednesday, the White House’s Rapid Response 47 account appeared to defend the automaker, writing on X that Ford “is a GREAT American company” that has “done a tremendous job on increasing investments domestically and shoring production back to the U.S.”

FOX Business reached out to the Department of Transportation for comment.

FOX Business’ Brittany Miller contributed to this report.

A journey shaped by more than two decades in finance, Ajaypal Somvanshi has moved from his Indian foundations to international financial markets, fund management and entrepreneurship, with Dubai becoming the stage for a significant new milestone.

Dubai, UAE: Success in financial markets is rarely defined by a single decision. It is built over years, through changing economic cycles, calculated risks, difficult lessons and the ability to continuously adapt. For Ajaypal Somvanshi, that journey has unfolded across cities, countries and financial markets.

With roots connected to Jaipur, Somvanshi has spent more than two decades developing a career across banking, trading, commodities, derivatives, portfolio management and investment strategy. Today, as Founder & CEO of ASKA Global Fund, Mauritius, he is entering a broader phase of that journey, one focused not simply on participating in markets, but on building an international platform around investment experience, education and opportunity. And in September 2026, Dubai provided a fitting stage for recognition of that evolution.

The Foundation: Experience Before Entrepreneurship

Long before becoming a founder, Somvanshi built his professional foundation inside the financial industry. His career includes experience associated with organisations such as LIC HFL, HDFC Bank, Aditya Birla Group and Howden UK, exposing him to different dimensions of financial services and business. As his career progressed, his interests moved increasingly towards financial markets.

Equities were joined by commodities. Traditional financial experience expanded into derivatives, indices and forex. Portfolio strategy and risk management became increasingly important components of his professional expertise. His exposure eventually extended to international markets, including trading across major exchanges such as COMEX and NYMEX. It was a progression that transformed an India-based financial career into something increasingly global.

When the UAE Became Part of the Story

The Middle East became another important chapter when Somvanshi took on responsibilities with Al Aweal Holding in Abu Dhabi. As Fund Manager, he was involved in managing a substantial proprietary futures portfolio, according to information supplied for this profile. His responsibilities extended beyond trading decisions to developing hedging and equity-derivative strategies and leading a team of traders. This period represented more than another professional appointment.

Working in the UAE placed Somvanshi within a highly international business environment, where capital, companies and professionals from different parts of the world intersect. That exposure would become increasingly relevant to the next phase of his career.

From Managing Capital to Building a Vision

After years spent working within financial institutions and managing markets, Somvanshi’s journey began moving towards entrepreneurship and leadership. Through ASKA Global Fund, Mauritius, where he serves as Founder & CEO, his focus has expanded towards building international relationships and exploring opportunities across markets. Mauritius adds another dimension to a journey already connecting India and the UAE.

Rather than viewing these markets independently, Somvanshi’s emerging outlook is increasingly cross-border, bringing together financial experience, strategic relationships and investment opportunities within an international framework. It marks an important transition in his story:

from financial professional to fund manager, and from fund manager to founder.

Knowledge as an Investment

Capital, however, represents only one part of Somvanshi’s professional interests. Education has developed alongside his market career. According to information provided for publication, Somvanshi has mentored more than 1,500 traders, helping participants develop their understanding of trading strategies, risk management and market analysis. His association with PSS EDU further reflects this interest in financial education and knowledge development.

For someone whose own career has evolved through changing financial environments, the philosophy is particularly relevant: markets change, technology changes, and strategies evolve, making continuous learning essential. With an MBA and more than 20 years of market exposure, Somvanshi’s approach combines technical and fundamental analysis with quantitative thinking and an awareness of emerging trading technologies.

Dubai: A Moment of Recognition

On 6 September 2026, Somvanshi’s professional journey reached another milestone in Dubai. He was honoured with the Global Business Leader Award 2026 at the Global Business Conference & Summit 2026, held at the Metropolitan Hotel, Dubai. The recognition brought together several chapters of his story.

The professional foundations developed in India. The years spent understanding and navigating financial markets. The experience of fund management in the UAE. The transition towards entrepreneurship through Mauritius. And now, recognition on an international business platform in Dubai. The award therefore represents not the conclusion of his journey, but another marker along it.

A Journey Still in Motion

Somvanshi’s story is ultimately about evolution rather than geography. Jaipur represents the roots. India provided the professional foundation. The UAE expanded the horizon. Mauritius opened a new entrepreneurial chapter. And Dubai became a stage for international recognition.

Today, his ambitions extend beyond managing portfolios or analysing individual markets. Through ASKA Global Fund and his involvement in education, Somvanshi is looking towards a broader ecosystem connecting capital, knowledge, people and opportunity. After more than two decades in finance, his journey demonstrates that meaningful professional growth is rarely a straight line. It is built market by market, decision by decision and opportunity by opportunity.

From Jaipur Roots to a Global Horizon

For Ajaypal Somvanshi, receiving the Global Business Leader Award 2026 in Dubai represents an important milestone, but perhaps the more compelling story is everything that came before it, and everything he intends to build after it. The markets may have shaped his career. The next chapter is about turning that experience into a global vision.

Parton wasn’t always wealthy. She grew up in poverty and in her 1971 hit Coat of Many Colours describes how she would wear rags to school which her “mama” had knitted together.

In a 2017 BBC interview, she said her father gave her business lessons from early in her career.

“My dad wasn’t an educated man, he wasn’t able to read and write, but my daddy had a great sense of business,” she told the BBC’s World Service in 2017.

“So when I got into the music business, I thought of it as a business. And so I started early on keeping my own songs and my own publishing company.”

While her publishing company helped build her wealth, Parton had plenty of other business ideas.

In 1985, she co-founded a film and TV production company called Sandollar Productions, which helped to make 90s cult thriller Buffy The Vampire Slayer.

Then there was Dollywood – the theme park in in the foothills of the Great Smoky Mountains in her home state of Tennessee, which she became co-owner of in 1986. It had changed owners multiple times since it was first set up 25 years earlier and her buy-in exponentially boosted visitor numbers.

She kept improving the park. In 2015, she opened the DreamMore Resort, a four-star hotel and spa down the road from Dollywood. Today, many of Parton’s family members work at the theme park and it is the biggest employer in its county.

She launched the Dolly Beauty cosmetics line in 2025 and she opened Dolly’s Tennessean Travel Stop in June this year. The shop offers a signature coffee brand named Cup of Ambition, a nod to her Grammy-winning single 9 to 5.

Paul Milliken, a reporter from Fox 5 Atlanta who had interviewed Parton many times, said diversification was the key to her business success.

“It’s a lesson that continues from her to this day to young artists,” he told BBC’s Wake Up to Money.

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The robot pizza-making business has, it’s true, been littered with sorry tales of overcooked promises and melting fortunes. Besides Picnic, other companies that have come and gone include Zume, external and Pazzi, which used, external robot arms to assemble pizzas, as well as Basil Street, external, a purveyor of pizza vending machines.

Although so-called fast food might seem an easy target for automation, it’s proved harder than many expected. Plus, bringing robots into pizza restaurants could take away entry-level jobs in the hospitality sector. Is the future really filled with robotic pizza?

“We haven’t yet seen any of the success stories materialise the way some people thought they would,” admits Sara Senatore, senior restaurants analyst at Bank of America. Her employer has financial interests in multiple high street pizza chains including Papa Johns and Domino’s.

Food preparation bots are sometimes clumsy – dropping ingredients in the wrong places at times, she explains. Conversely, “Humans are very efficient at making pizza.”

But Kindell, despite his frustrations with Picnic, is surprisingly undeterred. He is a fan of full automation. “I want to be able to walk up to, let’s say, a type of kiosk, put in your order, and it makes a fresh pizza,” he tells the BBC.

Kindell, who once made all his dough by hand – until an elbow tendon injury forced him to investigate using machines instead, is now working on his own version of a pizza-making robot.

He declines to share details but the contraption will make square pan-style pies and that the machine is inspired by the way 3D printers work. If things go well, he says he could have a fully operational version of the device by the summer of 2027.

Given that he admits he has “no experience” in robotics, I question why he would want to invest in such a dicey business. Kindell says that failed pizza robot companies have nonetheless generated useful data and made strides in developing their technology. It’s just a matter of time before someone gets these things to work, he insists.

On jobs, he claims that even “fully autonomous” pizza robots won’t threaten workers. Kindell previously used Picnic’s robots at T-Mobile Park, home of the Seattle Mariners, a baseball team.

Usually, he’d need about 10 people to make pizza in such a setup. With the robots that number fell to just two. But the other eight people were still employed, he says, in roles where they interacted with customers, and advertised the pizza around the stadium.

“We had so many more people able to hand out the pizza,” says Kindell. “It was so much faster.”