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Amazon expands its low-cost service to the world
Amazon.com announced on Friday that it has expanded its low cost e-commerce services Amazon Bazaar (known as Haul in America) to 14 more markets. This will increase competition with Chinese competitors like Shein, PDD Holdings Temu, and Shein's Shein in the race to sell ultra cheap goods such as $10 dresses and $5 accessory. The impact of the massive import tariffs that President Donald Trump imposed on U.S. consumers, particularly those with lower incomes, has been felt, as they often look for cheaper deals. Amazon Bazaar, a standalone app, offers merchandise similar to Amazon Haul, a budget-friendly section of the Amazon app launched last year. Amazon Bazaar will be delivering a large number of products under $10, and even some for as little as $2, to its new markets. These include everything from fashion to home goods. Hong Kong, Nigeria, Taiwan and the Philippines are among the newest markets for this low-cost online service, according to the company. Bazaar has expanded from Mexico to Saudi Arabia and United Arab Emirates since its launch. D.A. Gil Luria, analyst at Davidson & Co. "Amazon only entered a new market when it thought it could scale up to the point where it would delight consumers and build a profitable business." Luria stated that Amazon takes many years to reach profitability when entering new markets and countries. The company reported a third-quarter revenue of $40.9billion, an increase of 10% over the previous period. Luria stated that if the company can develop a business of selling low-cost products with a high level of service, they could expand to almost every country around the globe. Amazon Bazaar products are delivered directly to customers via the network of its service partners. They come from Amazon's global fulfillment center. Shein and Temu are also expanding outside of the United States. According to Shein's website, the company now has operations in over 160 countries, including the U.S.A., Brazil and Ireland. Temu ships at least to 70 countries. Both companies' U.S. operations were hit by the Trump administration's ban on de minimis. This trade exemption allowed packages worth less than $800 into the country duty free. Amazon launched Haul as an in-app service in the U.S. back in 2024. Since then, the company has expanded it to Britain, Germany France, Italy, Spain and Australia. Reporting by Arriana Mclymore in New York, and Anuja Bharata Mistry in Bengaluru. Editing by Anil d'Silva and Matthew Lewis.
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NTSB: Crew of UPS cargo flight that crashed tried to control the aircraft before crash
The National Transportation Safety Board reported on Friday that three UPS pilots were trying to control the cargo plane when a bell went off in the cockpit. This week, a cargo plane crashed in Louisville, Kentucky killing at least thirteen people. Todd Inman, NTSB member, told reporters that UPS flight 2976 began without incident. However, the flight's cockpit voice recorder recorded a bell that repeated 37 seconds after the crew had called for the takeoff thrust. Inman believes that the bell continued to ring until 25 seconds after the recording ended, signaling the crash of the aircraft. Inman stated that the crew was trying to control the plane before it crashed. A spokesperson stated that the NTSB expects to release a preliminary report within 30 days. Crash destroys two businesses Independent U.S. safety agency leads the investigation into the crash at Louisville airport of the MD-11 freighter, a 34-year old aircraft. The plane soared to about 100 feet (30 meters) before bursting into flames and destroying the two businesses. As the plane rolled down the Louisville Airport runway, one of its three engines separated from the left wing. Inman stated that the bulk of the left pylon (a structural component linking the aircraft engine with the wing or fuselage) was still attached to it when the left motor separated from the left wing. He said, "Now, there may have been damage caused by its impact on the terrain." On the runway, investigators found debris from the engine. Investigators are also looking into the maintenance history of the aircraft, including six weeks this fall during which it was heavily maintained at a San Antonio repair facility in Texas. Inman stated that a transcript of the cockpit's voice recorder, which contains two hours and four good quality digitally-recorded audio, would be made public within several months. Multiple factors are usually involved in air crashes.
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NTSB: Crew of UPS cargo flight that crashed tried to control the aircraft before crash
The National Transportation Safety Board reported on Friday that three UPS pilots were trying to control the cargo plane when a bell went off in the cockpit. This week, a cargo plane crashed in Louisville, Kentucky killing at least thirteen people. Todd Inman, NTSB member, told reporters that UPS flight 2976 began without incident. However, the flight's cockpit voice recorder recorded a bell ringing 37 seconds after the crew had called for the takeoff thrust. Inman believes that the bell continued to ring until 25 seconds after the recording ended, signaling the crash of the aircraft. Inman stated that the crew was trying to control the plane before it crashed. Crash destroys two businesses Independent U.S. safety agency leads the investigation into the crash at Louisville airport of the MD-11 freighter, a 34-year old aircraft. The plane reached a height of about 100 feet (30 meters) before it crashed in flames and destroyed two businesses. As the plane rolled down the Louisville Airport runway, one of its three engines separated from the left wing. Inman stated that the bulk of the left pylon (a structural component linking the aircraft engine with the wing or fuselage) was still attached to it when the left motor separated from the wing. He said, "Now, subsequently there could have been damage caused by its impact on the terrain." On the runway, investigators found debris from the engine. Investigators are also looking into the maintenance history of the aircraft, including six weeks this fall during which it was heavily maintained at a San Antonio repair facility in Texas. Inman stated that a transcript of the cockpit's voice recorder, which contains two hours and four good quality digitally-recorded audio, would be made public within several months. A crash in the air is usually caused by a number of factors. The preliminary report should be expected within 30 days.
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Urals differentials stable in quiet trade
The differentials between Russian Urals and other oil products remained stable on Friday despite low trading activity. Sellers and buyers were not rushing to begin December trading due to the uncertain political climate. The Suez Canal has seen two tankers with around 1.5 million barrels each of Russian Urals crude drop anchor in the sea. This is an indication of the difficulties Moscow faces selling oil following the tightening of Western sanctions last month. The supply problems are expected to worsen next week, as the deadline of November 21 for Rosneft's and Lukoil's transactions is fast approaching. The schedule shows that Azeri BTC exports to Turkey from the Ceyhan port are expected to increase by 8% compared to November. PLATTS WINDOW On Friday, there were no offers or bids for Urals CPC Blend Azeri BTC. Lukoil’s international operations were disrupted on Friday, as the U.S. deadline to stop doing business with the Russian company approaches and a planned sale to Swiss trader Gunvor fell through. (Reporting and editing by Diane Craft).
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NY approves permit to Williams NESE natgas pipeline, Constitution Pipe withdraws its application
New York's environmental regulators approved on Friday a water permit to the controversial and long-delayed Northeast Supply Enhancement Natural Gas Pipeline Project of U.S. Energy Company Williams Cos in New York, New Jersey, and Pennsylvania. The company also retracted its permit application for the Constitution gas pipeline project, which runs from Pennsylvania to New York. Williams had canceled both projects in the past, but they were controversial because environmental regulators in New York had rejected them. After the DEC issued three Notices of incomplete application due to insufficient information, the New York State Department of Environmental Conservation said that Constitution Pipeline retracted its permit applications on Friday. This included the Clean Water Act Section 401 Water Quality Certification. The DEC also said that Constitution failed to act at the federal level, at the Federal Energy Regulatory Commission (the lead agency for interstate pipes). DEC's notices of July 2, August 26 and September 30 2025 detailed the requirements to meet New York thresholds to determine an application complete for public comment and review. Constitution Pipeline allegedly "didn't fulfill these repeated requests for information" and on Nov. 7 withdrew its application. (Reporting and editing by Mark Porter, Deepa Babington, and Scott DiSavino)
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US delays flights in 8 airports because of a shortage of air traffic controllers
U.S. Federal Aviation Administration announced on Friday that it is delaying flights in eight airports, including Atlanta, San Francisco and Houston. The agency cited widespread staffing problems as controllers were not paid during the shutdown. Staffing shortages are reported at 10 different locations in the United States, and could lead to delays at other airports. Separately, the agency required airlines to cancel more than 700 flights or 4% of their flights at 40 airports with high traffic to deal with air traffic control staffing. According to FAA ground delays programs, flights at Reagan Washington National are delayed on average by 83 minutes, while those at San Francisco, Newark, Austin, and Houston Bush are delayed an average of 52 minutes. Flightwire, an online flight tracking service, reported that more than 2,300 flights were delayed by 12:45 pm EST. Some airlines are concerned that the flight reductions could encourage controllers who were not paid during the shutdown to not show up at work. The 38-day US government shutdown is the longest ever. It has forced 13,000 airtraffic controllers and 50,000 Transportation Security Administration (TSA) agents to work for free. In an interview with the Transportation Secretary Sean Duffy on Friday, he said that he asked the controllers' union to contact controllers and ask them to report to work. Duffy stated, "I need them come to work." "This is not about you now having a 'get-out-of-jail-free' to not come to work." The FAA reported this week that between 20% and 40% of controllers do not show up to work every day. The FAA reported that on October 31, nearly half of America's 30 busiest airports were experiencing a shortage of air traffic control personnel. This led to 6,200 flight delays and 500 cancellations in one of the worst days since the shutdown began. In New York, 80% of the air traffic controllers weren't present. David Shepardson, David Gregorio (Editing and Reporting)
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Spirit Airlines reaches tentative cost-saving labor deals amid bankruptcy proceedings
Spirit Airlines announced on Friday that it had reached tentative agreements with the unions representing both its pilots as well as its flight attendants. The tentative agreements would include some contract concessions as Spirit Airlines tries to reduce costs in its ongoing Chapter 11 restructuring. Once a tentative contract is ratified, the airline's senior leadership team will also accept salary reductions of a certain percentage. Earlier this year, the ultra-low-cost-carrier filed for Chapter 11 bankruptcy protection for the second time as it grappled with dwindling cash reserves and mounting losses. Spirit, as part of its cost-cutting program, has reduced the number of employees, trimmed routes, and scaled back operations to stabilize finances and avoid bankruptcy. The company announced on Wednesday that it would be discontinuing its service at five airports including Milwaukee and Phoenix. "Following extensive negotiations in response to the company's demand for pilot cost savings, Spirit pilots have reached an Agreement-in-Principle with Spirit Airlines on modifications to their collective bargaining agreement," the Air Line Pilots Association said on Friday. Both agreements are subject to pilots' and flight attendants' ratification and court approval. Spirit said the agreements in principal are expected to generate savings annually sufficient to meet its financial targets for the next draw under the debtor-in possession financing.
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AXSMarine reports that despite the overall decline, orders for less polluting cargo vessels are holding share.
AXSMarine data showed that 37% of orders for cargo vessels in 2025 were for cleaner fuel-burning vessels, the same as the previous year, because buyers are uncertain when the global regulations for cutting maritime emission will come into effect. AXSMarine's data shows that the total gross tonnage, a measure of vessel capacity used by the industry, was 78 million tons from January through October. This is down from 113 millions tons in the same period last year. AXSMarine data showed that orders for 2024 reached a record high of 17 years after ships were rerouted in order to avoid Houthi attacks in the Red Sea. This required more ships to be used to maintain schedules during the longer journeys. Operators also prepared for the new environmental regulations set by the United Nations standard-setting body for international shipping. AXSMarine's data shows that orders for alternative fuel vessels were down to 29 million GT from 42 million GT during the same period last year. The uncertainty was heightened again last month, when under pressure from delegates of the United States and Saudi Arabia - member countries of U.N.'s International Maritime Organization - voted to delay for one year a vote that would have set global targets to reduce carbon emissions and punish or reward adherence. Alexander Hadzhigaev is AXSMarine’s vice president for data. He said that the IMO’s Net-Zero Framework has been delayed. "A 'wait-and-see" approach seems to be the most likely outcome, he added. About 80% of the world's trade is transported by maritime shipping. The shipping industry is responsible for 3% of the climate-warming, greenhouse gases. This percentage will continue to rise without any curbs. Maersk, Hapag-Lloyd and other major container shipping lines have announced that they will continue to reduce carbon emissions from their vessels. Hadzhigaev stated that more than 70% of the container ships and vehicle carriers ordered from January to October were alternative fuel capable. Bulkers and tankers only accounted for 10-15%, while Hadzhigaev noted that bulkers and tanks accounted for less than 10%. Liquefied Natural Gas (LNG) remained the most popular alternative fuel. It accounted for 29% of all orders this year. He said that methanol is 9% and ammonia, along with other fuels, represents about 1%. AXSMarine's data shows that methanol is no longer a popular fuel in the container industry. Its share of new orders has dropped from 48% in 2020 to 18% in 2024, and now only 10% in 2025. Fuel availability and costs remain major challenges. (Reporting and editing by Richard Chang; Lisa Baertlein)
The US export of LNG will fuel the growth of shale gas production
Analysts predict that U.S. LNG exports will increase by 10% per year until 2030, as energy companies double their capacity to produce the gas. This will give a boost to the maturing U.S. Shale industry, which has seen its growth slow down and costs rise.
While the U.S. has been the largest producer of oil and gas in the world, many of its most productive drilling sites have already been exploited. Gas remains the bright spot in the industry, despite the fact that oil production will plateau or even fall over the next few months. This is largely due to the booming exports of the United States. According to the U.S. Energy Information Administration's (EIA) forecast, U.S. LNG will reach a record of 11.9 billion cubic foot per day (bcfd), in 2024. By 2030 it is expected to hit 21.5 bcfd. U.S. producers of LNG are building new terminals for super-chilling gas into its liquid form to export. The goal is to meet the booming global demand for fuel as energy consumption increases and many countries are phasing out coal-fired plants.
This provides robust growth prospects for gas producing regions in the United States. Morgan Stanley predicts that gas production in Louisiana's Haynesville Shale will increase by 41% and in Texas and New Mexico's Permian basin by 21% between 2024 and 2027. Morgan Stanley's estimates predict that the Marcellus and Utica shale, which cover parts of Pennsylvania and Ohio, as well as West Virginia and West Virginia will grow by 9%. U.S. Gas producers and investment firms have increased their activity in Haynesville to prepare for the surge in LNG exports that will be boosted by President Donald Trump's new approvals.
Domenic Dell'Osso told analysts that there are more than 12 billion cubic feet per day (bcfd) of LNG under construction within a 300 mile radius of Expand Energy's (Haynesville's) assets. This will be operational by 2030.
Venture Global LNG, a U.S. energy company, has already sanctioned CP2, the third export plant it will build in Louisiana. Cheniere Energy's Texas plant Corpus Christi is building two more liquefaction train. Woodside Energy Group, an Australian company, announced that it would proceed with its Louisiana LNG Project.
Analysts predict that more energy companies will take advantage of Trump’s favorable federal permitting policies to build new LNG export plants and pipes over the next year. Factbox on North American LNG Export Projects
TRAPPED GAS
The EIA predicts that the U.S. will increase its gas production from 103.6 bcfd to 113.5 bcfd by 2030. Most of this fuel is expected to be used to meet the booming LNG export demand. Canada will supply the U.S. with an average of 7.0 bcfd in pipeline gas over the next five-year period.
The EIA predicted that even with the rising LNG demand, total U.S. Gas demand, including exports and domestic consumption, would only increase by about 1% annually on average between now and 2030. This will take us from a record-breaking 111.5 bcfd to around 120.3 bcfd. This slowdown in growth is due to a decline in domestic gas consumption, which has fallen from a record of 90.5 bcfd to around 89.6bcfd by 2030. The main reason for this is the increase in renewable energy output. Other energy analysts expect that U.S. power plants will burn more gas than EIA's forecasts in the coming years to meet the fast-growing electricity demand from data centers.
Transporting gas to the market will require new pipelines and infrastructure.
According to East Daily Analytics analyst Jack Weixel, the capacity of gas pipelines in the Northeast will remain limited, limiting the potential growth to only about 3 bcfd at the end the decade, unless new pipelines are built.
Dennis Degner is the CEO of Range Resources. Range Resources is one of the largest U.S. producers of natural gas with operations in Marcellus and Utica. Kinder Morgan, Williams Cos, and Energy Transfer are among the U.S. pipe-line companies that have started spending billions of dollars to build hundreds and miles of new pipelines, especially in the Northeast. This is to increase gas supply for domestic and export demand.
(source: Reuters)