Latest News
-
Polish retailer Zabka beats the market's expectations for its third-quarter profits
Zabka, a Polish convenience store chain, reported on Tuesday better-than expected third-quarter earnings. This was due to an expanded store network and increased sales. Why it's important Zabka, one of Poland's largest convenience store chains, has a market cap of approximately 21,75 billion zlotys (5.98 billion dollars). The retailer has recently increased its forecast of new store openings by 200 stores to 1,300 in 2025. This is an increase from its previous target. It cited better access to prime retailing locations than anticipated and steady consumer demand. CONTEXT Zabka’s growth strategy relies on a franchise-based model, which allows for rapid expansion. In the first nine-month period of 2025, the company opened 1127 new stores. Zabka has also expanded beyond its domestic market by introducing its "Froo' brand in Romania. The company was listed on the Warsaw Stock Exchange for the first time in October 2024, and then joined the Polish blue chip index WIG20. By the Numbers The company's adjusted third quarter earnings before interest tax, depreciation, and amortization (EBITDA), of 1.28 billion Zlotys ($351.99 millions), exceeded a polled estimate of 1,25 billion Zlotys. Zabka’s net profit grew 45.2% in the third quarter to 463 millions zlotys, while revenue increased 13.1% in the same time period to 7.44 billion. $1 = 3.6365 Zlotys (reporting and editing by Milla Nissi-Prussak, Matt Scuffham and Marta Maciag)
-
Temasek-backed group to buy China's ANE at $1.84b valuation
ANE (Cayman), a Chinese-based transport and delivery services company, said Tuesday that a consortium including its largest shareholder Centurium Capital and Temasek, had offered to buy it out. The deal valued the group at HK$14.33bn ($1.84bn). Shareholders can choose between a cash payment of HK$12.18 for each ANE share, an alternative share, or a mix of both. The cash consideration represents a premium to the last closing price of the company on October 24, which was 29.6%. Centurium Capital owns around 24.32% ANE shares. Temasek, True Light and other investors do not hold any ANE shares. ANE had earlier this month Receive a 10% discount A conditional offer from the consortium, but the indicative price of the offer was not disclosed. ANE shares were halted on Monday, and the company announced that it had filed a request with the stock exchange for the resume of trading on 30 October. ANE is one of China's biggest less-than truckload logistics networks. It serves e-commerce clients and industrial customers. The company will be listed in Hong Kong by 2021 and operates thousands of line haul trucks and trailers throughout China.
-
Senators urge Trump reconsider dropping Biden's airline compensation plan
A group of Democratic Senators has urged the Trump Administration to reconsider its decision to scrap a plan from the previous administration that would have required airlines to compensate passengers in cash when carriers cause flight disruptions. In December, under the then-President Joe Biden's administration, the U.S. Department of Transportation sought public comments in a regulatory process about whether airlines should have to pay up $775 per passenger to compensate for delays they cause. USDOT announced in December that it would be dropping the compensation plan and considering revoking Biden regulations that required airlines and ticket agents disclose service fees along with airfares. The letter was signed by Maria Cantwell (D-WA), Ed Markey (D-OR), Ron Wyden (D-OR), Kirsten Gillibrand (D) and Jack Reed. Sean Duffy's spokesperson did not comment immediately on Tuesday, but stated that some rules adopted or proposed under Biden had "gone beyond what Congress required by statute" and we plan to revisit these extra-statutory requirements. A spokesperson for Transportation Secretary Sean Duffy did not immediately comment on Tuesday, but said that previously some rules proposed or adopted under Biden "went beyond what Congress has required by statute and we intend to reconsider those extra-statutory requirements." Airlines have pushed for the Trump administration to do more and praised their decision to cancel the Biden Plan. USDOT has also taken steps to reverse Biden’s airline consumer initiatives. In May, Justice Department dropped the lawsuit filed by Biden's administration against Southwest Airlines in its final days. The suit accused Southwest Airlines of operating flights that were chronically delayed.
-
Minister: Canada will work with G7 partners in order to secure vital mineral supply agreements
In an interview with The Toronto Star on Tuesday, Tim Hodgson, Minister of Natural Resources for Canada, said that the country will be focusing on securing critical minerals supplies when it hosts Group of Seven partners at a meeting of Energy and Environment ministers this week in Toronto. Except for Japan, all G7 countries are heavily or solely reliant upon China to supply a wide range of materials, from rare earth magnets and battery metals. Hodgson stated, "This week we will see many examples where we move beyond talking to firm commitments (to fund various types of tools to secure critical minerals)." The G7 will meet from October 30 through October 31. In Chicago, G7 officials discussed the price floor supported by government subsidies that the U.S. introduced recently to encourage domestic mineral production. Canada also aims to secure offtake agreements or financing deals, where a buyer agrees that they will purchase the output of a producer in the future at a fixed price. Hodgson stated that "you will see on the Friday a number concrete announcements showing how a multilateral approach works to secure supply chains and energy sources." He stated that Canada wanted to be the leader in securing supply chain for all its key allies to reduce dependence on China. Canada is a producer of several important metals, including nickel, cobalt and copper. Hodgson stated that some of the announcements to be made this week at the G7 will concern stockpiling critical minerals, and investing in new mining and production operations. Donald Trump, the U.S. president, called off this week trade talks between Canada and the U.S. that were centered around U.S. steel, aluminum and automobile tariffs. Hodgson stated that Canada and the U.S. were also in talks about the revival of Keystone XL as part of a future deal. However, he said it was not clear when both countries will reengage on this issue. He said, "We are ready to speak when the Americans are." Reporting by Divyarajagopal. Caroline Stauffer, Mark Potter and Caroline Stauffer edited the story.
-
Tusk: Poland could open new border crossings to Belarus next month
Donald Tusk, the Prime Minister of Poland, said that Poland would be prepared to reopen another two border crossings in Belarus by November. Poland closed its border to Belarus on September 12, due to military exercises conducted by Russia in Belarus, and the entry of 21 Russian drones into its airspace during the night of 9-10 September. On September 23, the Polish government announced that it would reopen a number of rail crossings as well as one road crossing. Tusk announced at a Bialystok business event that "we will be ready to open two border crossings this year in November" in Bobrowniki, and Kuznica. Let's say we open the two crossings for a test in November after I have settled this issue with Lithuanians. I will not hesitate to close the border again if it is necessary. Lithuania, a neighboring country, closed Vilnius Airport on four occasions last week as a result of balloons entering its airspace. It also temporarily closed its Belarus border crossings. Alexander Lukashenko, the Belarusian president, said that the Lithuanian border closure was a "crazy swindle" on Tuesday. He also accused the West that it was fighting a hybrid conflict against Belarus and Russia which was ushering in an era of barbed wire division. (Reporting and writing by Alan Charlish, Pawel Florkiewicz and Timothy Heritage. Editing by Timothy Heritage.)
-
As the shutdown continues, hundreds of air traffic controllers are taking on second jobs.
A union official reported that hundreds of U.S. Air Traffic Controllers, who missed their first pay check, took on temporary second jobs on Tuesday. This increased pressure on the aviation safety system, which is already under strain during a long government shutdown. Nick Daniels, President of the National Air Traffic Controllers Association, told reporters at Reagan Washington National Airport that it is likely to increase as controllers look for other ways to pay bills. Daniels warned that the number of people affected by the shutdown would soon reach 1,000. She urged the government to resolve the crisis. "We want to see the shutdown end today... The American people deserve that." Even before the shutdown, many air traffic controllers were already working six-day weekends and mandatory overtime. THOUSANDS of flights have been disrupted in the past two days The 28-day government shutdown has caused the aviation industry to be repeatedly disrupted. Nearly 7,000 flights were delayed on Monday, and 8,800 flights on Sunday. Just over 1,000 flights had been delayed as of 9:30 am EDT. A budget impasse between Republican president Donald Trump and Democratic congressional leaders triggered the shutdown, which will affect 13,000 air traffic control officers and 50,000 Transportation Security Administration (TSA) officers. Sean Duffy, Transportation Secretary, will hold a news conference at the LaGuardia Airport in New York on Tuesday to discuss this shortage. He said that controllers were getting jobs as food delivery drivers or Uber drivers to help them make ends meet. Daniels stated that the lack of payment was a dangerous distraction, and that the "system becomes less safe every day this shutdown continues." Frustration over delays forces lawmakers to resolve issue FlightAware's flight tracking website reported that 34% of Southwest Airlines flights were delayed on Monday. American Airlines was at 29%. United Airlines had 19% of its flights delayed, and Delta Air Lines 22%, according to FlightAware, a flight-tracking website. The public is frustrated by the delays and cancellations, and the impact of the shutdown has been intensified. This puts pressure on legislators to end the shutdown. The number of controllers and TSA agents absented during the 35-day shutdown in 2019 increased as employees missed paychecks. This led to longer wait times at airport checkpoints. New York and Washington authorities were forced to slow down air traffic.
-
Polish oil terminal expansion could boost Germany's seaborne consumption
Naftoport, the majority-owned company of Poland, will build a new supertanker jetty at its Gdansk terminal to relieve pressure on infrastructure, and allow German customers to switch completely to seaborne supplies. The terminal will start construction on a new jetty in this year to protect volumes and reduce vulnerability due to maintenance interruptions. The terminal will increase its annual capacity from 49 million metric tones once it is completed in 2028. We're confirming to our customers that we can do this during discussions on spot deliveries. Daniel Swietochowski is the chief executive officer of Polish pipeline operator PERN. PERN, a state-owned company, holds the majority of shares in Naftoport. The port has been running at nearly full capacity since 2023 and is handling record volumes non-Russian crude oil as refiners linked to northern Druzhba switched to maritime deliveries. The output is expected to surpass 39 million metric tonnes this year, and then remain constant in 2026. The additional infrastructure will enable Naftoport, along with Polish refineries operated or Orlen, to cover the demand of Germany's PCK Schwedt Refinery, which is majority owned by Rosneft and TotalEnergies Leuna Refinery. PCK, which accounts for more than 12% of Germany's fuel processing capacity, is part of Berlin’s successful efforts to continue its operations despite the sanctions imposed on Rosneft by U.S. president Donald Trump. Shell and Italy's Eni own minority stakes in Schwedt. The company has been relying on Kazakh crude shipped via PERN via Poland, and on seaborne flow via Naftoport ever since Russian deliveries were halted after Moscow invaded Ukraine. Daniel Betke, CEO of Naftoport, said that the new jetty would ease the pressure on the port. He added: "We often use the six hours between the departure of one tanker and the arrival the next to perform repairs, inspections or maintenance." He said, "This jetty is our insurance policy." (Reporting and editing by Alexander Smith; Marek Strzelecki)
-
JetBlue posts smaller-than-expected loss on strong premium demand, cost controls
U.S. carrier JetBlue Airways reported a smaller-than-expected quarterly loss on Tuesday, as steady demand for premium travel and cost-control efforts helped cushion margins. Premium services with high margins have been resilient. Affluent travelers continue to pay more for comfort while carriers cut capacity on domestic routes in order to reduce costs. JetBlue, along with its larger competitors United, American and Delta have all highlighted the resilient premium demand which has helped offset the slowdown of the U.S. market due to economic uncertainty caused by President Donald Trump’s policy changes. JetBlue President Marty St. George said, "We're optimistic that the demand environment will improve throughout the year." JetBlue's operating costs have been high and the aircraft grounded due to the Pratt & Whitney engine problems on RTX. The carrier has had to cut back on spending due to rising costs. They have stopped unprofitable routes and delayed aircraft deliveries, as well as halted plans for cabin upgrades. The New York-based carrier said that it expects the fourth-quarter unit revenues, which is a key indicator of pricing power, will be flat or down by as much as 4 percent from last year, when high demand drove up fares. JetBlue, which has an all-Airbus aircraft fleet, has lowered its forecast of unit costs in 2025, excluding fuel, to a range of 5%-6%. Earlier, the range was 5%-7.5%. LSEG data shows that it reported a loss per share of 40 cents, a tad less than Wall Street expectations of 44 cents. Analysts' expectations were met by the airline's total operating revenue of $2.32 billion for the quarter. The airline anticipates a profit before interest and tax, or operating income, between $800 million and $900 million by the end of 2027.
Quiet supersonic X-59 jet soars over California in unofficial first test flight
NASA's X-59 quiet supersonic jet plane flew over the Southern California Desert on Tuesday, the first flight of a new experimental aircraft that is designed to break through the sound barrier while minimizing noise.
The sleek aircraft measuring less than 100 feet (30 meters), from nose to tail took off an hour after sunrise at Plant 42, a Lockheed Martin Skunk Works facility located in Palmdale. Palmdale is about 60 miles (100 kilometers) north of Los Angeles.
After a steep ascent over fields of sod just east the runway, it was observed that the plane banked to the north, on a trajectory towards Edwards Air Force Base about 12 miles away, which is where the landing was expected. A NASA chase plane was accompanying it.
As expected, the single-engine X-59 flew at subsonic speed during its first test flight.
About 200 aerospace workers, their families and friends gathered along the highway to watch the takeoff.
Candis Roussel from Lockheed Martin, in a short email, said that "the X-59 successfully finished its first flight today" and hailed this as a "significant milestone for aviation." She added that the company will provide more details later.
The X-59 is a unique experimental aircraft that can reach a cruising velocity of 925 mph (1 490 kph), also known as Mach 1.4. This speed is achieved at an altitude 55,000 feet (16 764 meters), which makes it twice as high, and 60% faster, than most airliners.
The shape of the plane is specifically designed to reduce the sonic boom that normally occurs when an aircraft breaks through the sound barrier. Instead, the plane produces a muffled'sonic thump' no louder than the slamming of a car door.
The development of low-decibel technology for supersonic flight could improve the commercial aviation service in populated areas, particularly.
Concorde supersonic aircraft started transatlantic scheduled flights in 1976 with British Airways and Air France. The plane was retired from service in 2003 because of high operating costs, limited seats and low passenger numbers after a fatal accident in July 2000 and September 11th attacks in 2001.
NASA's press materials published online last month stated that the X-59 would make its first flight as a "lower-altitude, low-speed loop of about 240 mph to check the system integration. This will kick off a phase focused on flight testing aimed at verifying the aircraft’s airworthiness, safety, and reliability."
During future test flights, the X-59 is expected to travel faster and higher, ultimately exceeding the sound speed - 761 mph (1.225 kph), at sea level.
California Manufacturers & Technology Association announced the X-59 was 2025's coolest thing made in California in their annual statewide contest earlier this month. Reporting by David Swanson, Palmdale, California. Writing and additional reporting done by Steve Gorman, Los Angeles. Editing by Howard Goller.
(source: Reuters)