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Transportation
Bosnia seeks new peace envoy after sudden Schmidt exit
On Wednesday, the?body overseeing Bosnia’s peace process will meet to select a new envoy. Schmidt, appointed in 2021, resigned?unexpectedly?in May from the Office of High Representative. This office monitors implementation of U.S.-backed Dayton peace accords that ended Bosnia’s war in 1995. Schmidt, who was appointed to the Office of the high Representative in 2021 and resigned unexpectedly in May, said he quit under "enormous" U.S. pressure. It is a difficult time for Bosnia as it remains deeply divided on ethnic lines. Washington has been a strong supporter of the country, but in its May report on Western Balkans, the U.S.
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Europe
Shein fined $26 Million by France for violating consumer rules; Shein will challenge
France fined Shein, a fast fashion company, about EUR22 million ($26million) for?issues regarding returns, product information, and order confirmations. The penalty was deemed disproportionate by the firm, which has vowed not to accept it. Shein was fined EUR16,7 million for 'order confirmation' issues and EUR5,8 million for issues relating to returns and environmental quality information. Shein's spokesperson said in a press release that "technical issues with no impact on the consumer and which have already been addressed when?necessary" were used to justify an exceptional penalty. "We intend to contest both sanctions in their entirety." Shein was fined 40 million Euros
Passenger Transportation Services
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Lee visits Central Asia to promote Hong Kong as a resource-rich region
Hong Kong's leader, who led his government's largest delegation ever on a tour of Uzbekistan after Kazakhstan, arrived on Wednesday. The group was on a promotional tour to promote the city's?Chinese rule as a financial gateway and business hub to China and Southeast Asia. The visit by a 70-member delegation?that includes 40 business leaders is part of Hong Kong's efforts to connect resource-rich countries along Beijing's Belt and Road Initiative to China's largest off-shore finance hub in order to boost trade and financial activities amid increasing geopolitical tensions and soaring demand for strategic natural ressources. Lee, who will be in...
Passenger Transportation Services
Middle East Airlines safety audit launched in Lebanon amid complaints from pilot groups
According to letters seen by, Lebanon's aviation regulator has launched a safety review of Middle East Airlines after pilot groups expressed concern that crews are being forced to fly "close to airstrikes" and punished for reporting safety incidents. The audit focuses on the Beirut flag carrier that has kept the country 'connected' through war and financial collapse, even though many foreign airlines avoided large areas of Middle East airspace due to missile and drone -risks -since the U.S. and Israeli war against Iran began. MEA has around 20 planes that fly in the Middle East and Europe, as well as...
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There are some flights to the Middle East that have resumed but there is still disruption.
As regional carriers rebuild their schedules following war-related disruptions, some airlines are slowly restoring flights to the Middle East. However, the conflict continues disrupting wider traffic flows. Middle Eastern airlines increased capacity following severe disruptions linked to the Iran War, but many carriers outside the Gulf still divert Europe-Asia flight to avoid the area. The latest flight information is listed below alphabetically: AEGEAN AIRLINES Thessaloniki-Tel Aviv flights are cancelled until June 26 by Greece's largest airline. Dubai flights are cancelled until August 31. Erbil and Baghdad flights will be cancelled until July 2. AIRBALTIC AirBaltic, a Latvian airline, has announced...
Passenger Transportation Services
EasyJet attracts investors who spot a bargain as they look to takeover the airline
EasyJet, a British budget airline, has attracted the attention of?U.S. Castlelake, an investment firm, is considering a takeover. Analysts say that while easyJet called the timing of this takeover "highly opportunistic", its low valuation, slots in key airports, and stable fleet make it an attractive target for a takeover. Chris Beauchamp is the chief market analyst for trading platform IG. Shares Underperform Rivals Potential suitors are attracted to the British carrier because its shares have performed better than those of competitors like Ryanair. Jaime Rowbotham, a Deutsche Bank analyst, wrote that EasyJet had 'looked 'cheap' for a while. He added...
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Wall Street Journal, June 2,
These are the most popular?stories from the Wall Street Journal. ? The accuracy of these stories has not been verified by the site. -?Alphabet has announced plans to issue equity worth $80 billion, of which $10 billion will go to Berkshire Hathaway to fund AI capital expenses. Blackstone, a manager of alternative assets, announced that it had raised $13.1 billion in private equity funds for Asia. This was more than its initial target. It is also the largest fundraise ever made by Blackstone. Andrew Left, 55, an eminent?short seller in Los Angeles, has been convicted of securities fraud by a...
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A bus driver is charged with manslaughter on five counts in a Virginia highway accident
The driver of a tour bus has been charged with manslaughter for the deaths?of five people?in a chain-reaction accident?that was triggered?when the motor?coach ploughed into slower moving traffic?in a highway construction area?. Jing Sheng Dong (48), a Staten Island resident from New York was charged with two felony counts of unintentional manslaughter the following day, on Saturday. A grand jury at the 'Stafford County Circuit Court' indicted Jing Sheng Dong on Monday for three additional counts of manslaughter and a misdemeanor charge. Dong is still in hospital for his injuries sustained in the pileup crash that occurred on Interstate 95...
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Newark Airport's international flight processing is not being stopped by Homeland Security officials, according to the US Homeland Security chief
Markwayne Mullin, Secretary of Homeland Security at the U.S. Department of Homeland Security, said that he did not need to stop international?flights processing?at New Jersey's Newark Liberty International Airport. He cited cooperation from?state and?local law enforcement officials located near a detention facility. Mullin told a Dallas press conference that as long as the partnership between local and state law-enforcement agencies continues, there will be no need for this. New Jersey Governor Mikie Sherrill on Friday ordered the state police to take control of a migrant center in Newark, which had been a flashpoint for clashes between protesters and federal Immigration...
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Israel's El Al resumes San Francisco flights between Tel Aviv, Silicon Valley and Tel Aviv
El Al Israel Airlines announced on Monday that it will resume nonstop flights between Tel Aviv, Israel and San Francisco starting October 25. The airline cited a demand for a route connecting the two tech hubs. The three 15-hour weekly flights were given the number LY49 in honor of the San Francisco 49ers Football team. Shlomi Zafrani is El Al's Vice President of Commerce and Sales. The opening of this new route is intended to "respond to the significant demand from businessmen and Israelis in the region and to facilitate a more convenient and direct connection between Israel, Silicon Valley...
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JetBlue identifies increased fuel costs and benefits from Spirit's shutdown
U.S. airline?JetBlue increased its fuel cost?forecast for the second quarter on Monday as?the global aviation industry struggles with increasing jet fuel prices in the wake of disruptions caused by the closure of Strait of Hormuz. Fuel costs are expected to be between $4.26 and $4.36 per gallon in the second quarter. This is a significant increase from an earlier estimate of $4.13 to $4.28. JetBlue, however, said that it expected to "recover?40% of the increased fuel costs in the?quarter," thanks to its consistent operational performance. The airline has raised its revenue growth forecast per available seat-mile to between 9% to?12%...
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Travel restrictions tightened as Ebola threat rises
World Health Organization declared the Ebola outbreak that has been occurring in Democratic Republic of Congo a Public Health Emergency of International Concern on May 17, and warned of a high-risk of it spreading to neighboring countries. This decision has led?governments?to step up containment measures related to travel. The following is a list with the screening measures and travel restrictions announced and implemented by various countries. UNITED 'STATES In may, Washington prohibited non-citizens from entering 'the United?"States after they had traveled to the DRC, Uganda, or South Sudan within the last few weeks. The Centers for Disease Control and Prevention...
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EasyJet says it is open to a takeover bid, but the timing of it is 'opportunistic.' Shares soar.
EasyJet's shares rose by 12% on Monday after the British airline announced it would be open to any Castlelake takeover offer. The company called the timing of the U.S. investment group "highly opportunistic". Castlelake announced on Friday that it is in the preliminary stages of considering an offer for?easyJet. However, no approach has yet been made to the board. There can be no certainty as to whether or not a bid will be made. It has until 26 June to either make a "firm bid" or walk away. EasyJet said on Monday that it would evaluate any offer, if made....
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Austrian protesters close vital motorway linking Germany to Italy
Thousands of local residents closed down 'Austria Brenner Motorway' on Saturday. The Brenner is a vital north to south?corridor between Germany and Italy. They were protesting against the?tourists and trucks that are always clogging their roads. Karl Muehlsteiger was the leader of the protest, the mayor of Gries am Brenner. Gries am Brenner is one of the towns that are in the shadows of the Wipp Valley, a narrow valley with steep sides, and giant concrete stilts. Since?decades, the issue of excessive traffic and pollution in the valley that leads to the Brenner pass has been a source for tension...
Ground Transportation
Amtrak, the US passenger rail company, sets a record for ridership and cuts losses
Amtrak, the U.S. passenger rail company, said Tuesday that it had set records for revenue and ridership in a single year. It also cut its losses by 15 percent to $598 millions and is aiming for profitability by 2028. Amtrak is a major effort in rehabilitating the infrastructure of the Northeast corridor between Boston, Massachusetts and Washington. It is expanding service throughout the United States by purchasing new Acela trains with higher speeds and replacing regional trains from next year. Amtrak reported that in the twelve months ending September 30, it had 34,5 million trips made by customers, an increase...
Whaleboat sinks into river in Congo, killing at least 107 people
According to a government internal report viewed by us on Friday, at least 107 people died when a whaleboat caught blaze in the west of Democratic Republic of Congo. In a memo, the Ministry of Social Affairs stated that 146 people were missing after the boat, which was a narrow double-ended open vessel, caught fire near Malange Village in Lukolela Territory on Thursday night. The note stated that rescue teams recovered 209 survivors after the vessel burnt and drifted downriver. The fire destroyed the cargo and 15 riverside houses. The search operations continued Friday, with community volunteers and naval personnel...
As inventories shrink, premiums for copper contracts on the nearby LME soar.
The premiums for copper contracts near London Metal Exchange have increased to their highest level since October 2022 due to low inventories, large cash contracts and warrants held by traders. The title document that confers ownership on metal is a warrant. Tom-next, also known as the premium or backwardation that is charged for purchasing copper tomorrow and then selling it the next day, is currently trading at above The price of a metric tonne is $48. This compares to a $2 discount at the beginning of the week. The premium for the cash Copper Contract over the Three-Month Forward It...