👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Elon Musk's SpaceX and Italy's Unipol join forces to help Italians hit by flooding

Published 05/20/2023, 10:25 AM
Updated 05/21/2023, 10:56 AM
© Reuters. FILE PHOTO: Tesla CEO Elon Musk departs the company’s local office in Washington, U.S. January 27, 2023.  REUTERS/Jonathan Ernst/File Photo
TSLA
-

MILAN (Reuters) - Elon Musk's SpaceX and Unipol Gruppo agreed to join forces to help people hit by flooding in northern Italy connect to the Internet, facilitating rescue operations, the Italian insurer said on Saturday.

Torrential rains devastated the eastern side of the Italian region of Emilia-Romagna, killing 14 people, causing billions of euros worth of damage and hitting agriculture particularly hard.

Around 36,000 people were forced to leave their homes and many of those who remained in flooded areas were left with no electricity. Rescue efforts are hampered by persistent bad weather and disruptions on phone lines

© Reuters. Residents use a boat to navigate through flood water after heavy rains hit Italy's Emilia Romagna region, in San Pancrazio near Ravenna, Italy, May 18, 2023. REUTERS/Antonio Denti

Under the agreement, Unipol acquired SpaceX's Starlink satellite internet terminals and will make them available for rescuers, hospitals and the public. SpaceX is positioning its satellites to prioritise the Emilia-Romagna region and provide improved coverage.

"SpaceX, Starlink and Tesla (NASDAQ:TSLA) are happy to be of use in any way to help Italy and the people affected by the flooding", Musk said in a statement.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.