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Pope calls on US to 'deeply reflect' about treatment of migrants under Trump
Pope Leo said that the spiritual needs and concerns of migrants in detention must be taken into consideration. The pope, speaking to reporters at Castel Gandolfo outside Rome, was asked what he thought about immigrants who were being held in a federal facility near Chicago in Broadview and denied the chance to receive Holy Communion, a religious obligation. Leo, originally a Chicago native, cited Matthew’s Gospel, Chapter 25. "Jesus said very clearly that at the end of time, we will be asked how you received the foreigner. Did you welcome and receive him? "I think there needs to be a serious reflection on what is happening," said the pontiff. "Many people have been affected deeply by what is happening right now, even though they've been living for years without causing any problems," he said. Leo, first U.S. Pope, has previously condemned the federal government’s treatment of immigrants caught in a crackdown which has caused cities to be roiled across the country. He said that Tuesday, in reference to Broadview's detainees, the spiritual rights of the prisoners must be taken into consideration. He said, "I'd invite the authorities to let pastoral workers attend to those people's needs." They've often been away from their families for some time. No one knows, but it's important to attend to their spiritual needs. On November 1, the Catholic feast day of All Saints (November 1), a delegation of clergy including a Catholic Bishop tried to bring holy Communion to the inmates, but was denied entry to the facility. The detainees were part of Trump’s hardline strategy in Chicago where, according to the U.S. Department of Homeland Security, more than 3,000 individuals have been held. Leo was elected in May as the successor to the late Pope Francis. He has a more reserved style, but he has started criticizing Trump's administration more publicly, provoking a backlash among prominent conservative Catholics. In his first document of importance, published on October 9, he appealed to the world to assist immigrants and cited one of Francis’ strongest criticisms of Trump. Leo, in response to questions from reporters on Tuesday, also criticized the U.S. Government's decision to send warships into the waters around Venezuela. He said that the role of the armed forces is to "defend peace", whereas Trump's action was "increasing conflict." "We will not win by violence. The (right) way is to seek dialogue, and to find the correct solutions to problems that may exist in a nation." (Reporting and writing by Yeshim Dikman; editing by Alistair Bell).
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The Canadian budget: Key measures proposed
On Tuesday, the Canadian government unveiled its first budget under Prime Minister Mark Carney. The budget proposes a number of key measures. INVESTMENTS The government proposes to invest a total C$280 billion over the next five-year period. This includes C$115 billion for infrastructure, C$110 in productivity and competition, C$30 in defense and security, and C$25 in housing. Increased Defense Spending The government will spend C$81.8billion over 5 years to improve recruitment, repair infrastructure, and invest in military technologies. This money does not include the funds planned for fighter jets or submarines. SAVINGS The government will save C$60 billion over the next five years. This is in part due to reducing federal civil service by 10 percent, or 330,000 employees, by the end 2028/29. It also includes improving tax collection, and cutting foreign assistance. Regulation of stablecoins will be introduced by the government. Issuers will be required to manage and maintain adequate assets reserves, set up redemption policies, and protect personal data. Stablecoins, which are digital tokens with a fixed value in relation to a regular currency (mostly the dollar), are backed up by assets such as the currency or T-bills and Treasuries. OPEN BANKING The government is introducing legislation to encourage consumer-driven banking in an effort to help people better manage their finances and open up new banking options. IMMIGRATION LEVELS REDUCED Starting in 2026, permanent resident admissions targets will be trimmed from 395,000 to 380,000 for three years. The share of economic migrants will also increase from 59% up to 64%. The new plan also lowers the target for temporary resident admissions, from 673.650 in 2025, to 385,000 by 2026 and 370,000 by 2027 and 2028. IMPROVING THE OUTPUT AND USE OF ENERGY The government will increase tax incentives for all new capital investment, which will make it more appealing to invest in machinery. The government is proposing to reinstate accelerated capital costs allowances, but only on low-carbon equipment. The government will spend C$2 billion in five years on a Critical Minerals Sovereign Fund, which will invest strategically in critical mineral projects and companies. This includes equity investments and guaranteeing loan payments. (Reporting and editing by Deepa Babyington, with David Ljunggren)
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Brussels Airport closes after drone sighting reported
The Belgian air traffic service and an airport spokesperson confirmed that the Brussels Airport was closed following the reported sightings of drones. The spokeswoman said that there are currently no flights landing or taking-off, but she did not know how long the airport will remain closed. A drone was also spotted at the smaller Liege Airport, which has been closed. Kurt Verwilligen said, as a spokesperson of the Belgian Air Traffic Control Service, that shortly before 19:00 GMT, a drone was seen near Brussels Airport. The airport has been closed for security reasons. A drone was spotted over an air base in Belgium last weekend. In September, Copenhagen Airport, Oslo Airport, and other airports had to close for a short time due to drone sightings.
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After a strike, the union reaches a pay agreement with London Underground
The RMT union in Britain announced on Tuesday that it had secured a three year pay deal for London Underground employees, following a strike action last September which brought the entire public transport system to a halt. The deal includes a 3.4% pay increase in the first two years. This will be followed by increases in line with Retail Prices Index (RPI), a measure of inflation. Minimum increases are guaranteed if the inflation rate drops. In a press release, the RMT union claimed that it had also achieved "fatigue-friendly shifts", additional discussions on staff travel and a guarantee of PS400 on Boxing Day (a public holiday celebrated December 26). Five days of strikes in September on the Tube, which is used every day by millions, caused major disruptions across London. The new agreement is expected to prevent any further industrial action. Transport for London, which operates London's underground, has welcomed the RMT for accepting its pay offer. This was reported by British media. This multi-year deal is affordable, fair and gives our colleagues certainty over their pay for a number of years. TfL is engaging with our unions about this offer, and we look forward to hearing their response," said a TfL spokeswoman. TfL has stated that there are no changes proposed to the working hours of employees. (Reporting and editing by Catarina demony; Daniel Wallis, Editor)
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Norwegian Cruise forecasts quarterly profit below estimates, shares tumble
Norwegian Cruise Line Holdings' shares fell about 15% Tuesday after it forecasted a fourth-quarter loss below expectations due to cost pressures, a subdued appetite among travelers for sea-based holidays and a reduced appetite. The holiday season is a time of high demand, but it's been clouded by persistent inflation, uncertainty caused by tariffs, and the impact the long-term U.S. shutdown has had on port activity. Cruise operators are also under pressure from fluctuating fuel prices caused by geopolitical tensions and costs related to drydocks and ship deliveries, as well as maintenance and drydock expenses. Norwegian is expecting a current-quarter adjusted net profit per share below the estimates of 30 cents. Harry Sommer, CEO of the company, said in a call following earnings that they were strengthening their brand positioning and marketing efforts to reach a broader family market. Analysts blamed a sharp drop in the stock price on investor concerns over the company's plans to cater to families heavily, which would likely affect ticket revenues. Jamie Katz, Morningstar analyst, said that while the price for first- and second-class passengers should increase, adding children to a cabin will dilute the blended pricing. Norwegian's revenue for the third quarter rose by 4.7%, to $2.94billion. Analysts had expected $3.02billion. It was up 10.7% from the previous quarter. The company said that lower participation in its air program - which involves coordinating flights to match a cruise itinerary – affected revenue. Fuel prices increased from $699 to $744 per ton net of hedges. This is a rise from the previous year's $699. The company has raised its adjusted annual profit forecast from $2.05 per share to $2.10, an increase of $0.50. The adjusted profit per share was $1.20, which beat the $1.16 estimate for the third quarter. Peer Royal Caribbean increased its annual profit forecast, but forecast the current-quarter profits below estimates due to higher costs. Reporting by Neil J Kanatt, Bengallu; editing by Pooja Deai and Sriraj Kahluvila
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US extends inspection deadline after fires at Pennsylvania Transit Agency
The administration of President Donald Trump, which had threatened to remove aging railcars in Pennsylvania from service, announced on Tuesday that it would extend the deadline for an inspection by a state transit agency. The Federal Railroad Administration issued a special order on October 1 requiring that the Southeastern Pennsylvania Transportation Authority address the fire risk from its 225 Silverliner IV Railcars within 30 days. The order was issued in response to a safety recommendation made by the National Transportation Safety Board after five fires. FRA gave the agency until November 14 to finish inspections, and until early in December to install fire-protection circuits. Transportation Secretary Sean Duffy reported a successful meeting with Pennsylvania Governor Josh Shapiro and the two senators of the state, as well as other officials. He also pledged the U.S. Department of Transportation will work collaboratively in order to address fire risks. Duffy said, "We have chosen to work together in order to find a solution for the riders of Philadelphia." "We could've shut down the system. We didn't want to shut down the system. "Too many people depend on SEPTA for getting into and out of the City." SEPTA is ranked as the sixth largest public transit system in America. SEPTA provides service in five counties of the Greater Philadelphia Area and connects with transit systems in Delaware, New Jersey and other states. It serves nearly 200 million passengers annually. SEPTA's regional rail fleet consists of 225 Silverliner IV railcars, which are about 50 years old. They represent around two-thirds but due to financial reasons they must continue using them. SEPTA stated that a complete shutdown of the cars could cost the authority $2 billion and require a 2/3 reduction in service. The authority is currently in financial crisis. The vehicles are among the oldest in the nation and the agency has created a set of forty mitigation measures including notifications to staff, safety checks and audible alerts for malfunction lights. (Reporting and editing by David Shepardson)
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American Airlines reduces some management and support roles
American Airlines announced on Tuesday that it would be eliminating a small number of management and staff positions in order to adjust its workforce. The airline stated that the layoffs primarily occurred at the Fort Worth headquarters, which will allow it to become more efficient throughout the organization. The carrier had previously stated that it planned to save more than 750 million dollars in costs by the end this year. This is thanks to its efforts to reengineer the business. In North America, airlines have reduced corporate roles in order to control costs and protect margins after the post-pandemic travel surge. Air Canada, a Canadian carrier, cut 400 management jobs, or about 1% of their workforce, last month. Southwest Airlines announced earlier this year that it would be cutting 15% of corporate jobs. This is the first time in 54 years that Southwest Airlines has made such a cut. American Airlines has not specified the number of positions it is eliminating.
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Royal Air Maroc CEO: First aircraft to be delivered in 2028
Abdelhamid Addou, CEO of Royal Air Maroc, said that the Moroccan national carrier Royal Air Maroc expects to start receiving aircraft in 2028 from a major tender for fleet expansion. Addou stated that the tender, launched in April of 2024, is for 200 aircraft up to 2037. The company is currently evaluating Boeing, Airbus, and Embraer's offers. Addou, a reporter at the Arab Air Carriers' Organization General Assembly held in Rabat, said that the tender was currently being finalised. Addou did not disclose the exact value of the tender, but said that about 25% of the order would be wide-body aircraft. The remainder will be narrow-body jets. RAM is expecting to receive 15 new aircraft per year on average starting in 2028. Addou said that the airline would introduce up to thirteen aircraft each year in the interim. RAM has a strategy that includes expanding its fleet to become a regional hub carrier connecting Africa, Europe and North America via its Casablanca-based base. According to the ONDA, Morocco also launched a bid for a new terminal at its airport that will allow it to increase passenger capacity from 10.5 million to 35 millions by 2029. (Reporting and editing by David Goodman.)
Beta Technologies shares stall in a muted NYSE debut, resulting in a $7.4 billion valuation
Beta Technologies, a maker of electric aircraft, was valued at $7.44billion after its shares were flat on their New York Stock Exchange debut Tuesday. This signaled investor caution due to a prolonged U.S. Government shutdown.
The partisan gridlock of Washington is testing a comeback in first-time shares sales after tariffs imposed by U.S. president Donald Trump earlier this year scuttled IPOs.
Analysts say that the Securities and Exchange Commission operates at a skeletal level, with fewer restrictions to allow listings to proceed. This can alienate some investors because of higher risks or lack of transparency.
The stock of the company opened at $34 per share, which was in line with the initial offer.
Beta raised $1.01 billion by selling 29.9 millions shares over its marketed range, which was $27-$33 per share. This shows that investors are eager to buy cheaper aircraft.
Beta, backed by GE Aerospace, has a modest debut but still places it among the leading listed companies in the industry. Peers Archer Aviation (which went public via blank-check deals in 2021) and Joby Aviation (which went public through blank-check agreements), both command $6.72 billion and a $14.45 billion valuation respectively as of the last close.
CEO Kyle Clark said that Beta has been approached by companies with a special purpose to acquire it in the past, but now they are going public because the company is producing and advancing in the long certification processes to bring planes and aircrafts to the market.
Clark stated that "we have the ability forecast into a secure pipeline with deposit-based back up, and we also have a major certificate behind us."
Clark said that the shutdown of the U.S. federal government has not had a material impact on his programs.
Trump signed an executive directive in June to accelerate the development of eVTOL aircraft. A pilot program was launched last month to expedite the deployment of flying taxis.
Clark stated that "Aircraft could be delivered to customers in certain cases, which would allow payment, before the complete regulatory process was completed."
Beta designs and manufactures electric aircrafts, advanced electric propulsion, charging systems, and aircraft components.
For emergency medical services and cargo, electric battery-powered aircraft are expected to be a cheaper, quieter alternative to helicopters.
According to internal estimates, Beta's electric vertical lift-off and land variant (eVTOL) can reduce operating costs by 74% when compared to traditional helicopters. Reporting by Ateev Bhhandari in Bengaluru, Allison Lampert from Montreal and Alan Barona. Editing by Sahal Muhammad and Alan Barona.
(source: Reuters)