Latest News
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Minister: Shipowners stop vessel calls for exports of farm products at Ukraine's Black Sea ports
The country's Agriculture Minister said that shipowners temporarily halted vessel arrivals in?Ukraine?s Black Sea ports?for agricultural exports?after a recent surge?in russian attacks against ports and merchant ships? According to traders and analysts, the Russian drone and missile attacks have caused Ukraine to lose about a third its ability to export grain through Black Sea ports. "As from today, entry of ships is suspended. The shipowners made this decision. Ukraine as a country has not imposed restrictions," Interfax Ukraine quoted Taras Vysotskyi on Wednesday. Interfax-Ukraine reported that Vysotskyi also added that alternative routes as well as infrastructure are currently underutilised. Since 2023, Ukraine has been exporting a large amount of grain via its Black Sea shipping route. This is because Russia reneged on a deal which had guaranteed "safe passage" for agricultural exports following its invasion of Ukraine in 2022. In recent weeks, Russian?attacks? on Ukraine's deepwater port?and international ships have increased. Brokers say that shipowners refuse to enter Ukrainian port due to the sharply increased concerns about war risks, and traders have stopped purchases. Ukrainian authorities reported that a Russian missile attack on a ship transporting corn near Odesa, Ukraine on Sunday resulted in the deaths of nine crew members from India, Syria and one Ukrainian maritime pilot. UKRAINE REQUESTS URGENTE? A SECURITY CONSULTAN MEETING Andrii Sybiha said that the Russians have attacked at least three civilian cargo vessels in recent days. Today, no vessels crossed Ukraine's Black Sea Maritime Corridor - just as harvest was at its peak. Sybiha wrote in a X post that this was a deliberate act of economic and humanitarian terror. Ukraine had also requested an urgent 'United Nations Security Council Meeting for Monday. Moscow claims it is targeting port infrastructure and vessels that are supporting the Ukrainian military. Ukraine also intensifies its attacks on vessels in?the Black Sea and the Sea of Azov, as part of a broader?campaign to isolate Russia-occupied Crimea while undermining Moscow's main revenue sources. Russia banned vessel movements into and out of Novorossiysk, its largest port in terms of volume, which handles about a third of the country's grain exports, on Wednesday. (Reporting and editing by Emelia Sithole Matarise; Anna Pruchnicka)
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EasyJet's Q3 profits lower as Iran War raises costs
EasyJet, the target of a takeover, reported a PS85million ($113.8million) profit in its 'third quarter' on Thursday. This was a significant drop from a year earlier due to disruptions caused by Iran war, but said that consumer confidence is increasing as we enter 'peak summer season. The British budget airline, which has backed U.S. investor firm Apollo's PS5.7billion?takeover?offer over Castlelake's?repeated?approaches, stated that there was a strong demand for bookings made late in the month before departure, throughout the entire quarter. It also said it had 68% of its seats sold during the fourth quarter. The 'five-month war' has a dreary effect on the travel industry, as its quarterly earnings are a far cry from the PS286million profit it logged last year.
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New York Times Business News - July 23,
These are the 'top stories' from?the New York Times?business?pages. The?New York Times has not verified the accuracy of these stories. The Florida teenager who sued Meta for claiming that the company's social media apps caused his depression and anxiety dropped his lawsuit. Sony Pictures Entertainment announced that it will reopen the Cinerama Dome, Hollywood by 2028 after a renovation. This was in response to a growing demand from younger audiences for premium movie experiences. Three U.S. Airports are the first to adopt the new "private screening" model of the Transportation Security Administration, despite the staunch opposition from the union representing thousands of T.S.A. workers. workers. - ?U.S. Trade Representative Jamieson Greer said to Congress on Wednesday, that there was a "national emergency" in trade and that the administration was still determined to use tariffs as a tool for economic transformation.
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Channel Tunnel operator: EU software problems could delay biometric checks
Getlink, the operator of the Channel Tunnel, warned on Thursday that software problems could cause the biometric phase to be delayed past the original deadline of September 6, affecting car passengers who use the tunnel. The Chief Executive Yann Leriche stated that the biometric component for the new Entry/Exit System has yet to be implemented in passenger vehicles. He also warned that the software at the European level is not fully stable. Travel disruptions during holiday seasons are a concern for airline groups as well as British authorities. Leriche said to reporters: "I won't tell you that we're not experiencing any problems, but there is one problem?that impacts us all and?for which there is no immediate solution. The software provided by the European Union." Getlink, the company that operates the Channel Tunnel on a concession lasting until 2086 has invested EUR80,000,000 ($91,000,000) in preparing its terminals for EES. Leriche reports that the queues in the tunnel are generally only one or two hour long, as opposed to?significantly more delays' reported at certain airports. All this bad press, especially coming from the British, because 80% of tourists are British, creates an impression that the problems can't be solved. But, if we do our jobs, they're largely manageable. The Paris-based firm also announced that it had filed a lawsuit against the British government for revaluing business rates, which tripled their annual tax bill. Leriche stated that the company would give the UK government until the end the summer to reconsider their position before launching a formal legal challenge. Eurotunnel's owner has raised its guidance for full-year earnings to EUR835 to EUR870 millions, up from EUR820 to EUR860 in the past, and assumed only limited disruptions due to the rollout of the new entry system. $1 = 0.8763 Euros (Reporting and Editing by Edmund Klamann; Gianluca Nostro, Zakarya Melani)
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Indian billionaire Adani considering starting an airline, sources say
Two sources who have direct knowledge of the situation said that Indian billionaire Gautam 'Adani's group is considering launching a new airline. This could reshape the competition in a market currently dominated by IndiGo &?Air India. Sources declined to be named because they weren't authorised to talk to the media. According to the first source, India has been encouraging business groups to start an airline, including Adani. This is due to the ongoing scrutiny of Air India after 'last year's crash, and IndiGo's operational problems that led to 'widespread disruptions in December'. Adani?did not immediately respond to?questions from?. Reporting by Abhijith Gaapavaram and Aditya Kalra, Editing by Jacqueline Wong & Jamie Freed
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Wall Street Journal, July 23,
These are the most popular stories in the Wall Street Journal. The?has not?verified these stories and?does not?vouch for their accuracy. Union Pacific has struck a deal with Canadian National Railway in which it will give Montreal Railway more access to the Midwest, in exchange for the company ending its opposition to Norfolk Southern's merger with the American railroad. After the companies made concessions in relation to film distribution, the European Union has approved Paramount's $81 Billion bid to purchase Warner Bros Discovery. IBM CEO Arvind Krsna urged the company to shift its sales force away from large licensing deals and towards consumption-based cloud-based models after lowering its revenue growth forecast for the full year. Taco Bell executives held late-night meetings to discuss the chain's response to an outbreak of cyclospora linked to shredded romaine lettuce. Officials diverted supply trucks and mobilized field teams to remove cases of contaminated romaine lettuce. Prologis, a U.S. warehouse owner, increased its final bid for U.K. competitor Segro from?14 billion pounds to $ 18.74 billion and has ruled out any further increases. Penske Corp and Mitsui offered $210 per share for the sale of Penske Automotive Group, a potential deal worth $3.78 Billion.
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Indian billionaire Adani considering starting an airline, sources say
Two sources who are 'directly familiar with the matter' said that the 'group of Indian billionaire Gautam adani is pondering launching a brand new airline. This could reshape the competition in an industry dominated by IndiGo &?Air India. Sources declined to be identified as they weren't authorised to speak with the media. According to the first source, India has been encouraging business groups to start an airline, including Adani. This is due to the 'ongoing scrutiny' of Air India following 'last year's crash' and IndiGo's operational problems that caused widespread air traffic disruptions in December. Adani?did not immediately respond?to questions?from. Reporting by Abhijith Gaapavaram and Aditya Kalra, Editing by Jacqueline Wong & Jamie Freed
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Freight forwarder Kuehne+Nagel lifts 2026 operating profit forecast
Swiss logistics group Kuehne Nagel raised its 'operating profit' guidance for 2026 on Thursday. It cited strong performance in the second-quarter and its efficiency measures. The freight forwarder that operates in over 100 countries forecasts recurring earnings of between 1.35 and 1.55 billion Swiss Francs ($1.66 to $1.91 billion), up from its previous range of 1.25 to 1.40 billion Swiss Francs. A poll conducted by the company showed that analysts were expecting a median operating income of 1.41 billion Swiss francs in 2026. The recurring EBIT for last year was 1.24 billion Francs. In recent weeks, several major logistics companies have raised their earnings forecasts. They cite resilient demand, despite the economic uncertainty. K+N's second-quarter earnings, before interest and tax, grew to?381 millions francs, up from?342 million in the previous year, exceeding analysts' median expectations of 356 millions francs. The CEO Stefan Paul stated that "The Kuehne+Nagel Group achieved significant momentum in the 2nd quarter of 2026. This once again demonstrated its ability to position itself successfully in the market."
Daimler Truck eyes half of Europe sales from EVs in 2030
Daimler Truck , among the world's greatest business vehicle makers, aims for half of its European sales to come from electrical trucks in 2030, the head of its MercedesBenz Trucks unit, Karin Radstrom, said on Monday.
Radstrom, who is due to
take
the helm of the whole group next month, seeks to offer as numerous as 30,000 electric trucks, or half of Daimler's s amount to lorry sales in Europe, by the end of the decade.
Hopefully we'll be so excellent that we can do much more, she said at an interview during the IAA Transportation trade fair in Hanover.
Daimler Truck will
start
producing its very first fully-electric heavy truck Mercedes-Benz eActros 600 in November this year and has already gotten 2,000 orders for it.
Its outbound CEO Martin Daum earlier on Monday stated he sees no reducing on the European truck market in the very first half of 2025.
The group deals with suppressed need after chips and other parts shortages in the wake of the COVID-19 pandemic pushed up production expenses.
The trucking industry also faces difficulties to decrease contamination from industrial lorries, while logistic firms, their main customers, hesitate to pay more for electric trucks as the charging infrastructure is still far from complete.
(source: Reuters)