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The HS2 chief has delayed the northern England rail connection by four years
The company announced on Wednesday that the new high-speed railway line in Britain, HS2, will be delayed at least by four years. The latest setback in a project plagued by cost overruns since its approval in 2012. The previous government was forced to cancel the northern half between Birmingham and Manchester due to its ballooning budget two years ago. A spokesperson for HS2 Ltd said that the construction of the 18-mile (30-km) section north Birmingham would be delayed to give priority to the completion of the main London - Birmingham route. The link was built to increase capacity and catch up Britain with other European countries that have extensive high-speed tracks. The spokesperson stated that "We are fully committed to finishing the 18-mile stretch of road north of Birmingham." Heidi Alexander, the Transport Minister, warned in June that it was unlikely the line would open by 2033. She said she would provide an update by the end the year on the costs and timeline. A spokesperson for Transport Department said that the government "called time on spiralling cost and ineffective decisions", while remaining committed to delivering HS2 phase 1 in its entirety, including the 18 mile stretch. The Labour government elected last year has promised to complete the southern leg HS2, but has not reinstated its northern extension. The government's growth agenda places a priority on accelerating planning processes for new energy and transportation projects. The government has supported expansion at London Heathrow Airport and Gatwick Airport. $1 = 0.7451 pounds (Reporting and editing by Sam Tabahriti)
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Heathrow Airport in the UK expects to exceed last year's passenger numbers by 2025
Heathrow Airport in Britain reported record passenger numbers for the third quarter 2025 and said that it expects full-year numbers will surpass 2024 levels as it continues to prepare for long-term growth and invests in infrastructure. In the three-month period ending September, there were 23.4 million passengers at the airport. This includes more than 8 millions in August. The nine-month revenue for September grew by 2.0%, to 2.7 billion pounds (3.62 billion dollars), driven primarily by the strong demand for long-haul flights and an increase in premium services. The adjusted earnings before interest tax, depreciation, and amortisation dropped 0.2% to 1.53 billion pounds. This was due to the impact of lost tax-free shopping opportunities, higher security costs, and increased employment taxes. Heathrow's outlook for 2025 is consistent with the investor report it released in June. Airport officials said they were also pushing forward plans for a new runway that could be operational in a decade pending approval by 2029.
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After balloon incident, Lithuania reopens airport and Belarus border crossings
The National Crisis Management Centre reported that Lithuanian flights resumed at Vilnius Airport on Wednesday after being suspended overnight due to balloons smuggled into the airspace of the capital. The helium balloons that drifted toward the airport on Tuesday evening affected 30 flights and over 4,000 passengers. Lithuania closed both border crossings with Belarus following the incident. It was the second time in a month that contraband cigarettes from Belarus, which borders Lithuania is transported by balloons. Vilnius is 30 km away. In recent weeks, drone sightings have caused chaos at European airports including those in Copenhagen, Munich, and the Baltic area. (Reporting and writing by Terje Solesvik; editing by Christian Schmollinger & Hugh Lawson).
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Deutsche ReGas allocates Mukran LNG capacity in auction
Deutsche ReGas announced on Wednesday that it had sold slots for the delivery of liquefied gas to Mukran in north Germany, ensuring gas supplies through winter and beyond. ReGas is a private energy infrastructure developer and operator. On October 21, it held an auction for the delivery of gas into the Deutsche Ostsee Terminal at Mukran on the German Ruegen Island in the Baltic Sea. The company responded to a query by saying that "all delivery slots for LNG landings in Mukran for the heating season, which has just started, until next spring have been assigned, along with 80% of capacities for 2026." It said: "This means deliveries via the German Baltic Sea Energy Terminal will continue to play a significant role in ensuring the security of supply for Germany and Europe over the next year." ReGas announced on September 19 that it would auction 12 slots for unloading and regasification, which will be evenly distributed through 2026. Since 2022, Europe's imports of Russian pipeline gas have dropped sharply. The European Union also decided to stop relying on Russian fossil fuels in 2027. This has led to a greater reliance on seaborne LNG. Gas from Mukran is fed into German and Czech grids. Vera Eckert is the reporter. (Editing by Miranda Murray, Mark Potter and Mark Potter).
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German logistics companies face challenges in 2026, according to industry group
According to a forecast released by the industry association BVL, German logistics companies are facing pressure as they head into 2026. This is a year that will only see a 0.5% real growth year-on year. Due to the uncertainty of the economic and geopolitical environment, a group of logistics experts has presented three scenarios for the first. In the optimist case, a real growth of 1,1% is possible. However, in the pessimistic case, the sector will experience a decline of 0.4%. Specialists assess the current mood for autumn 2025 as being slightly negative, despite investment intentions remaining stable. Experts cited a number of factors as the reason for their scepticism. The most prominent was an uncertain policy environment in trade. The group also said that an increase in cyberattacks was to be anticipated, which would eat up a significant portion of IT budgets. The industry is putting great faith in the efficiency gains that can be achieved through automation, digitalization and artificial intelligence. (Reporting and writing by Klaus Lauer; editing by Miranda Murray).
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Baidu extends its robotaxi drive to Switzerland with PostBus
Baidu announced on Wednesday a partnership to launch the Apollo Go service of autonomous vehicles in Switzerland. The Chinese tech company is accelerating its global push for its self-driving businesses. This partnership follows on from Baidu's August partnership with Lyft to deploy robotaxis in Europe beginning next year. It also follows on from a deal made with Uber for thousands of its self-driving vehicles to be deployed across multiple international markets. In a press release, Baidu stated that the partnership will begin with a trial fleet in December 2025, with regular operations beginning in the first quarter 2027. Baidu and PostBus will deploy Apollo Go's self-driving vehicles in eastern Switzerland. The area covered by the project spans across the cantons St. Gallen and Appenzell Ausserrhoden, as well as Appenzell Innerrhoden. Baidu, China’s largest search engine operator has increased its focus on AI and self driving technologies as its advertising driven search engine business has slowed down due to the weakening Chinese economic. Baidu announced that Apollo Go operates a fleet of more than 1,000 fully driverless vehicles in 16 cities, including Dubai, Abu Dhabi, and Hong Kong.
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Norwegian Air exceeds profit expectations thanks to strong summer demand
Norwegian Air Shuttle, a budget airline, beat the market's expectations on Wednesday for its third quarter earnings. This was due to higher demand in its summer markets. The operating profit of the carrier grew by 41% on an annual basis to 3,02 billion Norwegian crowns (US$300.70 millions) during the quarter July-September, exceeding a consensus estimate of 2.8 million crowns. It said that the profit figure was the largest quarterly operating profit ever recorded by the airline. The airline stated in its earnings report that "The Norwegian Group experienced robust demand trends throughout the summer and into the third quarter 2025" across all markets. The airline's unit costs, which are the average costs of flying an airplane seat, fell by 5% compared to a year ago. They were 0.64 crowns for the third quarter. Norwegian's earnings report stated that it was able counteract cost pressure in part due to initiatives taken under its cost-saving programme, and the strengthening of the Norwegian crown against U.S. dollars. Although the airline industry has slowly recovered from its pandemic-induced slump, costs are still rising. Norwegian reported record passenger numbers in June, and a high load factor. In July it announced that its first dividend would be paid. The airline, which operates primarily regional flights in Europe, has confirmed its capacity forecast of 37.500 million seat-kilometres by 2025. The unit cost, excluding fuel, is expected to remain unchanged in 2025.
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Maguire: US LNG exporters and US households on collision course with gas usage
The LNG industry in the United States is expected to surpass the gas consumption of American households for the very first time by 2025. This will exacerbate tensions between export-oriented LNG companies and gas consumers who are already burdened with record high energy bills. The U.S. Energy Information Administration's (EIA's) data shows that LNG exporters will be the largest source of natural gas in the United States, with the annual gas consumption by this sector increasing by 140% from 2019 to 2024. This growth rate far exceeds that of other major gas consumers and the total U.S. production during that time period. By 2025, LNG exporters will consume more gas than U.S. residential and commercial gas users. The LNG sector enjoys the support of U.S. policymakers, and President Donald Trump wants to expand U.S. energy imports. The LNG export boom is not as popular with households, who have seen their energy bills soar to record levels since 2020 due to the rise in both electricity and natural gas prices. Gas prices could continue to rise along with LNG exports. This could lead to a consumer backlash against LNG companies that compete with residents for gas. It could also force policymakers into taking steps to protect households from future gas price increases. GROWING HEAT According to EIA, LNG export volumes in the first half of 2025 increased by about 20% from the previous year to reach a record of 2,57 billion cubic feet of natural gas. Residential gas consumers, including homes and apartment blocks, collectively consumed 3.05 BCF in the first half of 2025. This is around 11% higher than the same period in 2024. Residential gas consumption was the highest for any half-year time period since the beginning of 2022. The average household gas consumption during the second half is around 25% lower than the first due to the colder temperatures from January to March that require more gas-fed heat. During the coldest months, major buyers from Europe and Asia tend to stock up on gas in preparation for the winter. If these usage patterns continue in 2025, LNG importers will consume more than the total amount of gas consumed by households in 2025. This would be a new milestone for the LNG export industry in terms of its overall gas needs. NEW HIGHS The first half of the year 2025 will also see record gas consumption by industrial and commercial users. EIA data indicates that commercial users, which includes offices, grocery stores and hospitals, consumed 2,08 BCF. Around 5.4 BCF was consumed by industrial sites, such as chemical plants and fertilizer producers. The growth rates of both sectors were far below those of LNG exporters. This means that LNG exporters have reached a new record of 14% of the global gas market in 2025. EIA data show that the commercial sector accounts for 11%, while residential users account for 16%, and industry makes up 28%. The U.S. Power Sector, the country's largest gas user with a share of 31%, has seen its gas consumption drop by 4% in the first half 2024. This is equivalent to 5.9 BCF. The high gas prices in the first months of 2025 prompted power networks to reduce gas usage and increase coal-fired generation instead. Solar parks, wind farms, and other sources of power generation have allowed utilities to reduce their gas-fired output by as much as 2025. The cost of doing business The average U.S. gas cost remains high, with Henry Hub natural-gas futures averaging 37% higher than the 2024 average. Gas costs have risen, and this is reflected in the utility bills of consumers. However, residential customers are by far the most affected. Residential gas users have already paid an average of $17.63 for a thousand cubic feet in 2025, more than five times the Henry Hub spot rate of $3.60. According to EIA, power companies paid $4.24 on average, industrial consumers $5.07 and commercial users $11.30. Gas firms buy gas at Henry Hub's spot price and then incur costs for pipeline, liquefaction and storage, as well as transportation, which are dependent on supply agreements with gas suppliers, and the distances the gas must travel. The cost of gas for households is the highest because utilities must pay for the infrastructure that they have built to supply gas to homes. Residential gas consumption is also lower than that of industrial users. Therefore, residential gas consumers are not eligible for the bulk volume discount. Gas costs are still rising sharply for homes, and this is a major problem for many households who are now facing higher utility bills, as well as higher inflation in goods, compared to a few short years ago. Gas prices will continue to rise as LNG exports reach new records. LNG exporters may face criticism for fueling domestic energy costs and calls to slow down gas consumption until prices in the home start to fall. These are the opinions of the columnist, an author for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and information. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
Jordan purchases about 60,000 T wheat in tender, traders say
Jordan's state grains purchaser bought about 60,000 metric tons of difficult milling wheat to be sourced from optional origins in a worldwide tender on Tuesday, traders stated.
It was thought to have been purchased from trading house CHS at an estimated $271.30 a load expense and freight included (c&& f). for delivery in the very first half of February 2025, they stated.
Reports show assessments from traders and further. quotes of prices and volumes are still possible later on.
Traders said they had actually gotten signs that Jordan will. problem a new tender in coming days for 120,000 tons of wheat with. offers expected to be submitted on Nov. 12, with delivery in. January and February.
Traders reported these estimated offers from other trading. houses participating in Tuesday's tender, all per load c&& f:. Cargill $285.50, Viterra $279, Al Dahra $277, Ameropa $283.11. and Cereal Crops $300.
A different tender from Jordan looking for 120,000 lots of animal. feed barley closes on Wednesday.
(source: Reuters)