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US Senate confirms top car safety official who will oversee Tesla investigations
The U.S. Senate voted Thursday to confirm dozens of nominees including those in charge of highways and pipelines. The Senate confirmed Jonathan Morrison as the new head of the National Highway Traffic Safety Administration, along with 47 other nominees. This is the first time in three years that the NHTSA had a permanent director. Morrison, a lawyer who worked for Apple before joining the NHTSA in the first term of President Donald Trump, will supervise a number of safety investigations at the NHTSA. This includes an investigation launched this week on 174,000 Tesla Model Y vehicles from the model year 2021, based on reports that the electronic door handles could become non-functional and trap children. Morrison stated that the NHTSA cannot wait and see if problems arise, but it must show strong leadership. The NHTSA announced last month that it would be launching a new website. It would investigate Tesla Delays in reporting crashes involving self-driving cars or advanced driver assistance systems. Since October last year, the NHTSA been investigating Tesla has 2.4 million vehicles with self-driving capabilities after four collisions reported, including one fatal accident in 2023. Separately, the agency opened An investigation in January The Federal Bureau of Investigation is looking into 2.6 Million Tesla Vehicles after reports of accidents involving a feature which allows users to remotely move their vehicles. Tesla has not responded to our request for comment. Sean Duffy, Transportation Secretary has promised to take action Speed up the deployment of autonomous vehicles . This month, the NHTSA announced that it would be revising several regulations based on the assumption that a human is at control. August is the month of the NHTSA certifies Amazon's self-driving vehicle Zoox demonstration vehicles were delivered and a review was conducted to determine if they met federal requirements. Automakers, Safety advocates and lawmakers The NHTSA has been criticized on several fronts including its slow response to regulations Or, it can impede progress. The Alliance for Automotive Innovation (which represents major automakers) said: "The auto industry wants and needs a strong NHTSA. We are committed to a collaboration that achieves our common goals: saving life, reducing accidents and deploying cleanest, safer and smartest cars ever." (Reporting and editing by Chris Reese, Leslie Adler, and David Shepardson)
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US legislator wants Trump to restrict Chinese flight over rare earths access
The chairman of the U.S. House of Representatives Committee on China called on the Trump Administration to restrict or suspend Chinese airlines landing rights in the U.S. until Beijing restored full access to magnets and rare earths. John Moolenaar (a Republican) said that the U.S. export control policy should be reviewed to ensure the sale of parts, commercial aircraft and maintenance services in China is compliant. "These steps will send a clear signal to Beijing that they cannot cut off vital supplies to our defence industries without consequences for their own strategic sectors," Moolenaar stated. The rare earths group is made up of 17 different elements that are used in a variety of products, from military equipment and lasers to consumer electronics and wind turbines. China is concerned about rare earths, and it wants to control the supply. In April, in response to U.S. tariff increases, China added several rare earth products and magnets on its export restrictions list. U.S. Airlines are only allowed to fly a small percentage of the flights they can operate to China due to low demand between both nations. China may be considering a nuclear power plant, according to reports. As part of the trade negotiations with the U.S., China is buying up to 500 Boeing aircrafts. The U.S. Transportation Department granted another extension of six months on Wednesday. This allows United Airlines, American Airlines, and Delta Air Lines only 48 flights per week to China, out of the 119 that were approved. Chinese carriers fly the same number of flights to the U.S. A group representing U.S. carriers declined comment. The Chinese Embassy at Washington declined to comment immediately. Major U.S. Airlines and Aviation Unions successfully asked former President Joe Biden to stop approving additional flights between China & the U.S. last year. They cited the "anti-competitive" policies of the Chinese Government. Flights between China, the U.S. and Canada were at the center of controversy during the COVID-19 epidemic. (Reporting and editing by Leslie Adler, David Gregorio and David Shepardson)
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Lyft has paid New Jersey $19.4 Million for driver misclassification.
Officials from New Jersey announced on Thursday that Lyft had paid New Jersey $19.4 millions after an audit revealed the ride-sharing firm incorrectly classified over 100,000 drivers as independent contractors. Lyft, according to officials including the state attorney general Matthew Platkin, made the payment only after it retracted its request for an hearing to contest a New Jersey Department of Labor and Workforce Development audit of its records and books from 2014 to 2017. New Jersey's audit revealed that Lyft had not contributed to the state fund for these years on behalf drivers. This deprived them of benefits such as unemployment compensation and temporary disability benefits. Lyft owed more than $10,8 million in unpaid contributions plus $8.5 million in penalties and interest. It paid $10.8 million in order to stop the interest running and the remaining amount after it ended its challenge. In June 2024, the San Francisco-based firm reached a settlement of $27 million with Massachusetts. Lyft stated that it believes it has classified drivers correctly under New Jersey law and that most drivers prefer to work on their terms, rather than as an employee. We will not challenge the NJDOL assessment further, even though we disagree with its findings. Over the past few years, many regulators have said that Uber and Lyft's alleged misclassifications deprive drivers other benefits such as a minimum wage and overtime pay. Robert Asaro Angelo, New Jersey's Labor Commissioner, said that there is no reason why temporary and on-demand workers, who work flexible hours or minutes at a given time, cannot be treated the same as other employees. (Reporting and editing by Chris Reese in New York, Jonathan Stempel from New York)
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Oneworld Alliance looks to India as a partner in its expansion.
Oneworld Alliance, a 15-member airline group that includes American Airlines, Qantas Airways and other airlines, is looking at a possible Indian airline partner, as the Indian market continues to grow. "India is a marketplace that we all have an interest in finding someone," Nat Pieper, CEO of the company, said on Thursday at a meeting in New York with aviation executives and analysts. Piper stated that adding a new team member is "always difficult" as it must work for both the entire group and each of its 15 members. He added that, given the fact that many of the alliance's members serve India, they are also looking at ways to leverage the joint presence. For example, through a loyalty program or joint lounge initiative. "We have 10 employees who serve in India, so it's a market that is growing at a rapid pace." Hawaiian Airlines will join the alliance by 2026. Alaska Air acquired the airline in 2024. (Doyinsola Oladipo in New York; Editing by Sonali Paul)
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Panama Canal begins process to select companies to build and operate LPG pipeline
After meeting with interested companies, the Panama Canal Authority announced on Thursday that it had begun a competition to select a company to design, build, and operate a pipeline for transporting liquefied petrol gas (LPG). The project is expected to cost between $4 billion to $8 billion. It will be part of the move by the waterway to increase its services, including trans-shipment, and to generate additional revenue. This follows the Supreme Court's decision last year to expand the area of the waterway. The 2 million-barrel-per-day pipeline alone is forecast to contribute between $1 billion and $1.2 billion to the waterway's annual income, Ricaurte Vasquez, head of the canal, told in an interview after the meetings. The project will move U.S. LPG bound to Asia from the one side to the other of the canal. As part of the plan, a power transmission line will also be built. The canal released a statement saying that Exxon Mobil and Phillips 66 were among the companies who met with the authorities to discuss the pipeline. Other companies included Puma Energy (Puma Energy), SK Energy (SK Energy), Vitol, Mitsubishi Itochu, Sumitomo, Vitol Energy, Energy Transfer Puma Energy. Vasquez, who attended the meeting said that there were many people interested in the project. He added that the next step will be a prequalification process. He said that the winner of the competition will be chosen in the fourth quarter of 2026. A parallel project, to build and operate new ports near the canal, will begin between the end of this year and the beginning of next year. Vasquez stated that the canal expects to make a profit of $3.5 billion in the fiscal year which ends in September. This is in line with last year's result. The canal expects to counteract a decrease in traffic at the end of the fiscal year by consolidating cargo tonnage through the reception of larger vessels. He said, "This year we have seen a change in seasonality, as more cargo is being shipped to the United States, now instead of October-December." (Reporting and editing by Gabriel Araujo, Marguerita Choy and Elida Parraga)
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FedEx's quarterly profits rise, but US tariffs dent 2026 earnings forecast
FedEx posted a higher profit for the quarter, but projected 2026 earnings per shares that were largely below analyst's estimates. This is because it expects to take a hit due to U.S. tariffs ending on low-value direct-to consumer shipments. In extended trading, shares of the company rose by about 6% on Thursday. On May 2, the U.S. government ended the "de minimis exemptions" that allowed packages valued below $800 to be imported duty-free from China and Hong Kong. These shipments represented about three quarters of the roughly 1.4 billion packages which entered the United States every year under this program. On August 29, the U.S. removed "de minimis exemptions" for all countries. FedEx is expected to see the impact of this in its results for the next few quarters. According to data compiled and analyzed by LSEG, Memphis-based package-delivery company expects adjusted earnings for the full year in a range between $17.20 and $19.00 per share. The mid-point is slightly below analyst estimates of $18.21. FedEx has reported an adjusted profit for the first quarter ending August 31 of $0.91 billion or $3.83 a share. This is up from $0.89billion or $3.60 a share in the year before. Since 2023, the company has been working to reduce operating costs by billions of dollars. This was achieved through parking planes and closing facilities. The company has a plan to save $1 billion in the fiscal year ending May 2026. It reported first quarter revenue of $22.2billion, an increase from $21.6billion a year ago. Reporting by Lisa Baertlein from Los Angeles, and Abhinav Paramar from Bengaluru. Editing by Shinjini Ganuli.
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FedEx's earnings forecast for 2026 is below expectations due to US tariff impact
FedEx posted a higher profit for the quarter, but projected earnings per share in 2026 that were largely below analyst's estimates. This is because it expects to take a hit due to U.S. tariffs ending on low-value direct-to consumer shipments. According to data compiled and analyzed by LSEG, the Memphis-based company expects adjusted earnings for full-year in a range between $17.20 and $19.00 per share. The mid-point is slightly below analyst estimates of $18.21. Since 2023, FedEx has been working to reduce operating costs by billions of dollars. This is done through parking planes and closing facilities. It has a plan to save $1 billion in the fiscal year ending May 2026. Analysts and investors are waiting to see if this will be sufficient to counteract the threats of U.S. Trade Policy and global economic uncertainty. The company's adjusted profit for the first quarter ending August 31 was $0.91 billion or $3.83 a share. This is up from $0.89 million or $3.60 a share in the same period last year. Reporting by Lisa Baertlein, Los Angeles; Abhinav Paramar, Bengaluru. Editing by Shinjini Ganuli.
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Texas Governor signs bill to crack down on abortion pills ordered by mail
Texas Governor Greg Abbott has signed a law to clamp down on the mail-order sale of abortion pills, which are already prohibited in his state. The bill empowers private citizens to sue companies and individuals who ship these pills to Texas. Abbott, an anti-abortion Republican who is adamantly opposed to abortion, signed the bill without any announcement on Wednesday night. The bill was passed by the Republican-led state legislature in early October. The bill aims to make it more difficult for women to get the prescription drugs they need to terminate their pregnancy at home, in violation of Texas' ban on abortions. The Texas law has not yet been answered in terms of whether it will affect "shield" laws enacted by Democratic-led states, where abortion is still legal. These laws are intended to protect providers from criminal and civil penalties resulting from abortion laws in another state. In about three months, the Texas measure will take effect. It is similar to an enforcement mechanism for citizens contained in a state law that prohibited abortions when a fetal beat could be detected. Abortion rights advocates claim that pharmacologically-terminated pregnancies account for 63% percent of all abortions in the United States, three years after Roe v. Wade, the landmark 1973 case which established a constitutionally protected right to abortion, was overturned by the U.S. Supreme Court. Telehealth consultations, as well as mail-order deliveries have allowed women to perform abortions at home in areas where the only alternative is for them to travel to another state where abortions are still legal. Turning Citizens into Whistleblowers The new law allows citizens to sue medical providers, pharmaceutical companies and delivery services, as well as individuals who helped women obtain abortion pills mifepristone or misoprostol. If a plaintiff proves their case, they will receive $100,000 per violation. The measure exempts women who use abortion pills from any liability. The use of misoprostol and mifepristone in medically-necessary procedures for miscarriages or ectopic pregnancy is also exempted. If it is shown that shipping companies and drug manufacturers such as FedEx, United Parcel Service, and Amazon.com have adhered to state-imposed bans then they will not be held responsible. John Seago of Texas Right to Life - which heavily lobbied for the bill - said that it was primarily designed to "hold individuals accountable" who mail abortion pills to Texas in order to avoid criminal prosecution. Critics claim that the measure will encourage ordinary citizens to spy on their neighbors. When speaking against the bill, state senator Carol Alvarado (a Democrat from Houston) said: "The bill will only work if we turn Texans on each other." According to Seago’s group, abortion tablets are being imported into Texas at a rate of over 19,000 orders per year from other states and foreign countries. The measure to stop the shipments was modeled on "qui tam," provisions in federal and state False Claims Act laws designed to expose fraud by allowing whistleblowers the opportunity to sue the wrongdoers, and receive a portion of the proceeds. Some social conservatives have used citizen lawsuits in recent years to enforce anti-abortion legislation. In a Texas law passed in 2021, which prohibited abortions after fetal heart activity was detected, a provision was included for citizen lawsuits. In the year following the Supreme Court's Roe decision, Texas and thirteen other states were able to ban all abortions. This led to the anti-abortion movement seeking new enforcement tools. Steve Gorman, Los Angeles (reporting) and Leslie Adler, editing.
Ivory Coast cocoa exporters cut purchases as port rates rise, sources state
Swiss chocolate maker Barry Callebaut and Singaporebased food group Olam have been buying fewer cocoa beans from Ivory Coast because midDecember after an increase in port costs at Abidjan and San Pedro, industry sources said on Thursday.
7 cocoa purchasers based in the regions of Soubre, San Pedro, Duékoué and Meagui informed Reuters they are charging exporters, including smaller operators, more than an authorities cap in order to benefit from an increase in international cocoa rates towards record levels.
We have actually needed to decrease our cocoa purchases in the bush because mid-December due to the fact that of price inflation at the ports, stated one Barry Callebaut manager who did not want to be called.
The sources said the companies exporting from top cocoa grower Ivory Coast were overpaying suppliers where needed to meet their targets because production for the 2024/25 season has been lower than projection.
The Barry Callebaut supervisor said cocoa providers at ports had been asking between 2,230 and 2,250 CFA francs ($ 3.55) per kg of cocoa. The cost is officially capped at 1,930 CFA francs/kg by Ivory Coast's Coffee and Cocoa Council (CCC). regulator.
A supervisor at Olam said the company had actually been forced to lower. cocoa purchases despite high need for beans and low international. supply due to unfavorable weather.
We require cocoa, however not at this rate, the Olam supervisor. said.
Barry Callebaut and Olam did not instantly react to. requests for remark.
The cocoa purchasers said they intentionally stockpiled beans for. longer than the 15-day limitation enforced by the CCC, creating an. artificial scarcity that pressed exporters to accept greater. rates.
Although the CCC forbids overpayment, it is common offered the. competition to obtain cocoa.
It is the only method to make more money with exporters when. the world market is on the increase and there isn't sufficient cocoa for. everyone, said a significant buyer based in San Pedro.
He said he did not deliver cocoa beans to port for less than. 2,230 CFA francs/kg.
The higher port costs are also putting small exporters at. threat of missing their acquiring targets.
There isn't sufficient volume for everyone. Production is down. and all the cocoa is going to a couple of companies, so the danger of. default is much greater for business like ours, one such. exporter stated, calling on the CCC to step in.
The CCC decreased to comment.
(source: Reuters)