Latest News
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Morning Message/Monday
Hello from the Daybook. Today, Tuesday, May 27, the following items have been added: Updates Schedule of President Trump 1 p.m. : Lunch with Vice President. White House, Private dining room. Closed press Updates VICE PRESIDENT VANCE'S SCHEDULE (early schedule) 1 p.m. : Lunch with the President. White House, Private dining room. Closed press Note: The vice president will speak at a gala on Tuesday evening at the National Building Museum, hosted by American Compass. Press RSVP required to [email protected] by 12Noon ET on Monday. SECRETARY OF STATE MARCO RUBIO'S SCHEDULE (early schedule) Attends closed-door meetings at the State Department Note: The secretary of state will speak at an American Compass gala at the National Building Museum on Tuesday night. Press RSVP required to [email protected] by 12Noon ET on Monday. Schedule of the Deputy Secretary of State, Christopher Landau Attendance at closed meetings of the State Department Schedule of MICHAEL RIGAS, Deputy Secretary of State for Management and Resources Attends closed-door meetings at the State Department Schedule of Senior Official for Political Affairs LISA Kenna Attends closed-door meetings at the State Department There will not be a press briefing from the State Department (POLITICS-WEST VIRGINIA-MORRISEY) ADVISORY -- At 9:30 a.m., Gov. Patrick Morrisey, R-West Virginia, holds a press conference in Charleston. Location: West Virginia Governor's Mansion 1716 Kanawha Boulevard, Charleston, West Virginia Contact Drew Galang at 304-558-2000 Please RSVP by pressing the button below. [email protected]. For a webcast, go to: https://www.facebook.com/WVGovernor or https://www.youtube.com/@WVGovernor/streams. (USA-AIRPORT-NEWARK/DUFFY) ADVISORY -- At 1 p.m., Transportation Secretary Sean Duffy holds a news conference to discuss the reopening of a runway at Newark Airport. Attendees include United Airlines CEO Scott Kirby and Port Authority of New York & New Jersey Chairman Kevin O'Toole. Location: Newark Liberty International Airport in Newark, N.J. Contact: 202-366-4570 Please RSVP to [email protected]. For background on Runway 4L-22R, go to: https://www.panynj.gov/port-authority/en/press-room/press-release-archives/2025-press-releases/governor-murphy-and-the-port-authority-of-new-york-and-new-jerse.html. ------ ------ The Morning Message June 2, 2025
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Delivery Hero and Glovo fined $376 million by the EU for antitrust violations
EU regulators announced on Monday that German online food takeaway service Delivery Hero and its Spanish subsidiary Glovo had been fined 329 millions euros ($376million) for participating in a cartel, which included an agreement to not poach each others' employees. This was after an investigation of a year by the European Commission, prompted by dawn raids that occurred in 2023. Delivery Hero's minority stake in Glovo increased to 94% by July 2022. Companies admitted to wrongdoing and received a 10% reduction in fines. In a press release, EU antitrust chief Teresa Ribera stated that "This case was important because these anticompetitive practices were made possible by Delivery Hero's minor stake in Glovo." She added that this is the first time that the Commission has sanctioned agreements prohibiting companies from competing to hire the best employees and reducing opportunities for workers. The regulators said that a shareholder agreement between two companies, signed at the time Delivery Hero acquired a minor stake in Glovo, contained limited no-hire reciprocity clauses which were then expanded into a general deal. They also shared information about prices, commercial strategies and capacity. Glovo's fine was 105.7 million Euros and Delivery Hero's 223 million. Delivery Hero's fine of 223 million euros and Glovo's 105.7 million euros is approximately 20% less. The company stated that this is due to "a reduced intensity of issues investigated during certain periods." Delivery Hero stated in a press release that "the remaining provision will then be released and normalized by management adjustments, without impacting on the company's adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) for the period." Glovo operates in over 20 countries, including eight in Europe. Delivery Hero has a presence in over 70 countries, including 16 in Europe.
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Russian rail cargo volume dropped by a record 9.4% in may amid slowing economic
The Russian rail cargo volume fell 9.4% on an annual basis in May, to 94.6 millions metric tons. This is the largest monthly drop since the beginning of the conflict in Ukraine. The data published by Russian Railways on Monday showed that the trend of steady decline in 2025 would continue. After two years of rapid growth, fueled by government spending and production for the Ukraine war, Russia's economy is now slowing down. Rail freight volumes are largely driven by industrial output. This rose 1.2% over the first four month of 2025 compared to a 5.1% increase in the same period of last year. Oil, construction materials and grain were the cargo types that saw the sharpest drop in volume. The data revealed that the total volume for the first five month of this year dropped 7.3% in comparison to the same period last year. According to a document seen, Russian Railways will cut its expenditures by 3.5% by 2025 as a result of reduced rail shipment forecasts. According to a document seen by, Russian Railways will cut its spending by 3.5% in 2025 due to reduced forecasts of rail shipment volumes. The Ministry of Economy expects industrial production growth to slow down to 2.6% this coming year, from 4.6% by 2024. (Reporting and editing by Mark Trevelyan; Gleb Stolyarov)
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Delivery Hero and Glovo fined $376 million by the EU for antitrust violations
EU regulators announced on Monday that German online food takeaway service Delivery Hero and its Spanish subsidiary Glovo had been fined 329 million euros ($376 millions) for participating in a cartel, which included an agreement to not poach each others' employees. This was after an investigation of a year by the European Commission, prompted by dawn raids that occurred in 2023. Delivery Hero's minority stake in Glovo increased to 94% by July 2022. Companies admitted to wrongdoing and received a 10% reduction in fines. In a press release, EU antitrust chief Teresa Ribera stated that "This case was important because these anticompetitive practices were made possible by Delivery Hero's minor stake in Glovo." She added that this is the first time the Commission has sanctioned a no-poach contract, in which companies cease to compete for the best talents and reduce the opportunities for employees. The regulators said that a shareholder agreement between two companies, signed at the time Delivery Hero acquired a minor stake in Glovo, contained limited no-hire reciprocity clauses which were then expanded into a general deal. They also shared information about prices, commercial strategies and capacity. Glovo's fine is 105.7 million Euros and Delivery Hero 223 Million Euros. Glovo operates in over 20 countries, including eight in Europe. Delivery Hero has a presence in more 70 countries, including 16 countries in Europe.
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Nine people killed in blast at Nigerian bus park Borno
Residents and local lawmakers said that at least nine people died in an explosion in a bus parking in northeastern Nigeria. The blast was blamed on the bomb planted by suspected militants, who have intensified attacks in Borno State. Borno is the center of an islamist insurgency that has raged for 16 years. This has resulted in the deaths of thousands of Nigerians, and the displacement of tens or thousands. Abdulkarim Lawan said that villagers from Mairari village, in Borno’s Guzamala District, were waiting for transport on Saturday when a bomb exploded, killing nine people. Lawan, also the speaker of Borno State Assembly, said that Mairari village is now mostly deserted because of frequent attacks by Boko Haram, and Islamic State West Africa Province who are increasingly using improvised bombs. He said that terrorists, who were monitoring their movements, planted IEDs near the bus stop. These exploded as they waited to board commercial vehicles to return to their destination. Nahum Kenneth Daso, the spokesperson for the state police of Borno, confirmed that an incident had occurred but he did not have any details. Bunu Bukar said that on Monday, the IED was activated when nine passengers boarded a minibus, instantly killing them and injuring others. Since January, Nigeria has seen an increase in militant attacks. These militants have targeted civilians and military base. Reporting by Ahmed Kingimi, Maiduguri; and Camillus Eboh, Abuja. Writing by MacDonald Dzirutwe. Editing by Peter Graff.
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Swedish grid operator predicts less severe power shortage this winter
Grid operator Svenska Kraftnat reported on Monday that Sweden will face less of an energy shortage this winter than previous years, as higher prices have reduced demand. However, southern Sweden still has a deficit. Transmission system operators (TSOs) estimate a power balance of 600 megawatts per hour during peak hours under normal temperatures, but warn of a deficit of 600 MWh/h in the event that winter is colder than usual. The report, which focuses on the Swedish power balance for 2025, states that Sweden won't need to import net imports in order to meet peak demand. TSO releases a new report each year. It had previously predicted a 3,800-MWh/h winter deficit in 2025/26, but now has lowered expectations for peak demand. Eva Vitell of Svenska Kraftnat’s System Division said that the increased awareness about electricity prices among customers was largely responsible for this. The Swedish energy ministry reported that the demand for electricity in Sweden has fallen from 140 terawatt-hours (TWh), which was the case in the years prior to the 2022 crisis. This led to record high prices. The TSO reported that consumption last winter, which was described by meteorologists as being unusually mild, peaked at 22,5 MWh/h (measured in watt-hours per hour) on January 13. This is the lowest winter peak recorded since records began for 1997/98. Northern Sweden is experiencing a surge in wind energy installations, creating an electricity surplus. Svenska Kraftnat predicted a power imbalance in southern Sweden this winter of -7.700 MWh/h in the event of normal temperatures. The shortfall is expected to be compensated by power imports and flows from northern Sweden. (Reporting and editing by Anna Ringstrom, Jacqueline Wong and Nora Buli)
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Ethiopian Airlines CEO: Ethiopian Airlines is considering ordering at least 20 regional jets
Ethiopian Airlines' chief executive said on Monday that the airline is planning to purchase at least 20 small regional jets or narrowbody aircraft to replace older aircraft and expand its domestic fleet. In an interview, CEO Mesfin Tassew Bekele stated that "we are evaluating three aircraft types, the E-2 by Embraer, A220 by Airbus and the 737 MAX 7 by Boeing." He added that the final order amount will depend on which type is chosen. Boeing's 737 MAX 7 has yet to be approved. It is a plane with a higher seating capacity, but it falls at the bottom of a bigger category compared to the Airbus A220 or Embraer E-2. The largest airline in Africa is seeing a strong demand for travel, but it has been hampered by delays with jet deliveries and the grounding some aircraft because of engine shortages resulting from supply chain disruptions. Bekele, speaking at the annual IATA meeting, said that while Boeing and Airbus planes were being delivered, they had been delayed by an average of three months. In order to alleviate capacity constraints, the company is also in discussions with lessors about bringing on board some jets. This airline is one of many that have grounded aircraft because of bottlenecks at engine maintenance facilities. Ethiopian's three Boeing 787 widebody aircraft are grounded because of a lack of Rolls-Royce engine. Five turboprops are grounded because of a lack of RTX Pratt & Whitney engine. Bekele stated that "normally engines should be repaired and returned within three months, but it now takes six months or more to repair and return them." Reporting by Shivansh Tiwary from New Delhi. Jamie Freed, Mark Potter and Mark Potter edited the article.
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Data shows that Russian gas exports to Europe increased 10% m/m during May.
Calculations showed that the average daily supply of natural gas to Europe by Russian energy giant Gazprom via TurkStream's undersea pipe increased 10.3% from a year earlier in May, according to calculations released on Monday. The only remaining transit route for Russian gas into Europe is through Turkey after Ukraine decided not to renew a transit agreement with Moscow that expired in January. Based on data provided by the European gas transmission group Entsog, calculations showed that Russian gas exported via TurkStream rose from 41.7 million cubic metres per day to 46.0 mcm in May. This was down from the 47.2 mcm of May 2024. Calculations show that the total Russian gas supplied to Europe through TurkStream in the first five month of this year was around 7.2 billion cubic meters (bcm), compared to the 6.6 bcm delivered during the same time period last year. The company did not reply to a comment request. It hasn't published its monthly statistics since 2023. Gazprom's data and calculations indicate that Russia shipped 63.8 billion cubic meters of gas by different routes to Europe in 2022. This fell by 55.6% in 2024 to 28,3 bcm, but increased in 2024 to about 32 bcm. Gas flows into Europe peaked between 2018 and 2019. The annual flow was around 175 to 180 bcm. (Reporting and editing by Andrew Osborn.)
Early trade in most Gulf bourses shows that oil prices and the majority of Gulf bourses are rising.
The Gulf stock markets rose early Wednesday, as oil prices increased. However, the gains were limited due to expectations that the OPEC+ meeting later this week will increase output.
Saudi Arabia, which is the largest oil producer in the world, could also cut its crude price for Asian buyers to its lowest level in six months in July. Saudi Arabia's benchmark stock index rose by 1.08%.
Four Asian refining companies told a survey that the official July selling price of flagship Arab Light crude could drop between 40 and 50 cents, to 90 cents or $1 per barrel.
The oil prices rose on Wednesday as concerns about supply grew after the U.S. banned Chevron's exports of Venezuelan crude. The gains were modest as the markets awaited the OPEC+ group decision to increase output later this week.
Brent crude futures increased 7 cents or 0.1% to $64.16 per barrel at 0640 GMT.
As Brussels prepares to move forward with trade negotiations with Washington, EU officials are asking EU CEOs and leading companies for details about their U.S. investments plans. The uncertainty over Donald Trump's chaotic policies on trade continues to persist.
Nasdaq Futures fell 0.03% during Asia trading while S&P500 futures fell 0.06%.
The UAE markets were varied. Dubai's main index of shares fell 0.07%, while Abu Dhabi's benchmark index rose 0.51%.
Taaleem Holdings, a provider of education services in Dubai, was down by 2.43%. Gulf Navigation Holding, a maritime and shipping company, gained 3.66% following the signing of a pact between GulfNav and Brooge to purchase Brooge's assets and subsidiaries for AED 3.2billion ($871.32m).
Qatar's benchmark index was down by 0.36% in a session that marked a fourth consecutive day of losses.
Ooredoo, a provider of integrated telecom services, was the biggest loser in the index with a decline of 0.71%.
Qatar National Bank, which is the largest bank by assets in the region, fell 0.56%
(source: Reuters)