Latest News
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US FTC: Boeing must divest Spirit AeroSystems' assets before merging with Spirit AeroSystems
The U.S. regulator announced on Wednesday that it would require Boeing divest significant Spirit AeroSystems' assets in order to address competition concerns regarding its $8.3 Billion acquisition of the company which manufactures major fuselages and wing parts for aircraft, including the Boeing 737. The Federal Trade Commission has proposed an order that delays the merger planned by Boeing, which was scheduled to be completed before the end of this year. The proposed order is open for public comments for 30 days. Boeing's shares fell 2.3% intraday. The commission wants Spirit to divest its parts that provide aerostructures to Airbus, its European competitor. Airbus has already agreed to buy parts from Spirit. This divestment will address FTC concerns that the merger could allow Boeing to unfairly dominate Airbus's supply chain. Boeing's spokesperson stated, "We are pleased that the U.S. Federal Trade Commission has approved our acquisition of Spirit AeroSystems." While the transaction is not fully completed, Boeing remains committed to the completion of the remaining steps to complete the acquisition. This milestone will enhance our ability, to produce safe, high quality airplanes for our clients and benefit the flying community. (Reporting and editing by Doina Gregorio and David Gregorio; and Bhargav acharya in Toronto and Ryan Patrick Jones, in Seattle.
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Britain adopts regional controls on Spanish pork imports after lifting blanket ban
Britain announced on Wednesday that it will allow imports of pork from areas of Spain not affected by African swine flu (ASF). This is a reversal of a blanket prohibition imposed last weekend after the country reported the first cases of this disease in over three decades. This move aligns Britain's approach with that of the European Union, which restricts trading only in outbreak zones. Pork imports from other regions can resume, but those from Barcelona will remain suspended. In an emailed message, a Defra representative said that "all fresh pork and other impacted product from the affected region are restricted." The statement said that exports from areas in Spain that are free of disease can continue as usual. They also added that they will continue to monitor the situation. Spain confirmed that nine wild boars near Barcelona had been infected with ASF. This prompted Catalonia to take emergency measures, as the region is a major pig-farming area. The virus is not fatal for humans, but it can be deadly to pigs. There is no vaccine or treatment. Spain is Europe's biggest pork producer, and it's a major pork supplier to Britain. It has shipped 37,600 tons of pork worth more than 112 million euro ($130 million) so far in this year. After Spanish Prime Minister Pedro Sanchez called on Britain and other trading partner to continue purchasing from regions outside of the containment area, the decision was made. resumed shipments Earlier this week, Beijing relaxed its restrictions on Catalonia and allowed more people to travel to China. Officials in Spain said that other countries, including Mexico and Canada, have not yet adopted the same approach as Britain and the EU, and continue to ban pork imports from Spain. Task force to investigate the alleged involvement of EU Vets On Tuesday, work began in Barcelona to contain the outbreak. (Reporting and editing by Sam Tabahriti, Nigel Hunt, and Catarina demony).
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TikTok invests more than 37,7 billion dollars in Brazil's data center
TikTok announced on Wednesday that it will invest over 200 billion reais (about $37.69 billion) into a Brazilian data center. The data center is to be built at the Pecem Industrial and Port Complex, located in Ceara in northeastern Brazil. Monica Guise was the head of TikTok Brazil's public policy at an event with President Luiz inacio Lula da S Silva. TikTok said in a statement that the estimated amount includes investments of 108 billion reais for high-tech equipment until 2035. The company stated that the data center will begin operations in 2027. Omnia, a company that owns data centers and is owned by investment firm Patria, will be joining forces with renewable energy operator Casa dos Ventos to form a joint venture. TikTok said that the facility's energy supply will be exclusively renewable energy from dedicated wind farms. In April, it was reported that ByteDance - the Chinese parent of TikTok - was considering a large investment in a Brazilian data center. In October, Mines and Energy minister Alexandre Silveira confirmed the plans. At the time, he said that the estimated investment was 50 billion reais.
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Source: Ministers from Germany, France and Spain to meet in FCAS on December 11
On December 11, the defence ministers of Germany, France, and Spain will meet to discuss FCAS - Europe's next generation fighter jet project - according to a source with knowledge of the issue. FCAS, a 100 billion-euro (117 billion-dollar) Future Combat Air System, was announced more than eight-years-ago but has been mired by disputes between companies over work-share and prized technologies. Bloomberg was the first to report on this meeting. The next phase in plans to deliver a fighter flanked with drones for France and Germany by 2040 is at stake, mirroring an UK-ItalianJapanese initiative known as GCAP. The project is at a standstill due to disagreements between Dassault Aviation France and Airbus. Last month, French president Emmanuel Macron and German Chancellor Friedrich Merz talked about the project to try to move it forward.
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After a drone attack, Kazakhstan has rerouted its oil exports.
Five industry sources have confirmed that Kazakhstan will divert additional crude oil through the Baku, Tbilisi, and Ceyhan pipelines in December, after its main route for export, the Caspian Pipeline Consortium cut capacity due to damage caused by a Ukrainian drone strike. CPC, which transports over 80% Kazakhstan's oil and manages more than 1% global supply, temporarily halted its operations on Saturday, after an mooring near Russia's Novorossiisk Port was damaged. CPC resumed loadings Monday using the single point mooring that is currently operational. This allowed exports to continue with a lower capacity. The third SPM is scheduled for repair at CPC's Terminal. CPC has been reported to be rushing to complete the maintenance ahead schedule. Two sources have confirmed that Kazakhstan will increase shipments to BTC from the Caspian Sea Port of Aktau in December to 188,000 metric tonnes (47,000 barrels/day), an increase of about 30% compared to November. Tengizchevroil will supply 170,000 tonnes and the Kashagan oil field 18,000 tons. The port's capacity and oil quality standards in Aktau limit the volume of oil that can be transported through BTC. Kazakh producers can also export crude oil to Russia via Novorossiisk, Ust-Luga and the Druzhba Pipeline. However, these routes have lower margins because they are dependent on the capacity and capabilities of Russian pipeline operator Transneft. Sources said that the Russian pipeline system has been stretched to its limit after drone attacks on its refineries, export facilities and export terminals, which leaves little room for additional Kazakh flows. According to a source, producers could add up to 140,000 tonnes of Urals crude oil in December. The NCOC consortium that operates Kashagan and the Kazakhstan Ministry of Energy did not respond when asked for comment. TCO declined comment. TCO resumed BTC oil exports in November, after suspending them for a month in August because of excessive organic chlorides found in the Azeri BTC. Askhat Khasenov said in October that KazMunayGas was in discussions to increase BTC oil shipment to 2.2 millions tons by 2026 from 1.2million tons this year. Kazakh crude oil reaches Baku, Azerbaijan, by tanker, mainly from Tengiz, Kashagan, and BTC fields. It then flows through BTC into Turkey's Ceyhan Port. Reporting by. (Editing by Louise Heavens, Mark Potter and Mark Potter).
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Delta Air reports $200 million loss due to US Government Shutdown
Delta Air Lines announced on Wednesday that it expects the shutdown of the US government, which ended in late January, to have a $200-million impact on its fourth quarter profit before taxes. The carrier stated that the loss in profitability is about 25 cents a share. It added that the growth of travel bookings has returned to expectations after the end of the shutdown. The 43-day government shutdown affected flights, and thousands of air traffic control operators and other staff were forced to work without pay. JetBlue announced earlier this week that Hurricane Melissa in Jamaica, and cancellations due to the shutdown, had impacted its operational performance by one point for the third quarter. Delta stated that the demand for December quarter was "healthy", and that trends are strong for early 2026. The company will present at the Morgan Stanley Global Consumer & Retail Conference in the afternoon. (Reporting and editing by Shash Kuber in Bengaluru, Anshuman tripathy from Bengaluru)
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Romania destroys maritime drones in Black Sea
The Ministry of National Defence announced on Wednesday that the Romanian military had destroyed a drone maritime that was posing a danger to navigation in the Black Sea. This comes amid growing concerns over the risks associated with shipping in this area due to the conflict in Ukraine. The ministry stated that the drone found 36 nautical miles east of Constanta was a Sea Baby. The Sea Baby drone is a maritime one developed by Ukraine. Un spokesperson for the Romanian Ministry of Defence declined to identify the country from which the drone originated, but confirmed that it was a Sea Baby. At the time of publication, the Security Service of Ukraine refused to comment. Concerns about the safety of shipping on the Black Sea after attacks on Russian-linked tankers, including some claimed by Ukraine. Insurance rates To rise in an important body of water for shipping grain, oil or oil products. The Defence Ministry released a statement saying that "the intervention team was given approval to neutralize an identified object in accordance with operational procedures currently in place. At around 1:00 pm, the drone maritime was destroyed through controlled detonation." Mark Rutte, Secretary General of NATO and Turkish Foreign Minister Hakan Fidan discussed Black Sea safety A Turkish Foreign Ministry Source said that Ankara had expressed its alarm over the attacks on Wednesday. Romania, Bulgaria, and Turkey are working together to defuse mines that have been floating in the Black Sea since Russia invaded Ukraine 2022. The Romanian Navy has reported that since the start of the war, around 150 mines were discovered and destroyed. Reporting by Alan Charlish and Anna WlodarczakSemczuk; additional reporting by Luiza llie and Tom Balmforth. Editing by Sharon Singleton.
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Data shows that Freeport Texas plant will take in more natgas on Wednesday following an outage.
Freeport LNG’s export plant in Texas is on track to receive more natural gas Wednesday, a sign one of its liquefaction train has been returned to service following a Tuesday shutdown. LSEG data as well as regulatory filings indicate. In the past, changes in its operations caused price fluctuations in the global gas market. Gas prices in the U.S. typically fall when flows to Freeport decrease due to a reduced demand for fuels from the export facility. Prices in Europe usually rise due to the drop in LNG supply available on global markets. The futures prices in America were up about 3 percent on Wednesday, and are on track to close at their highest level in 35 months thanks in part to Freeport's return of its liquefaction trains. The prices in Europe were near a 18-month low, though this was not always due to Freeport. Freeport informed Texas environmental regulators of the Tuesday shutdown of Train 1 due to a reduction in gas flow. Freeport officials did not respond to requests for comment. LSEG reported that gas flows into Freeport are on track to hit a five-month peak of approximately 2.0 billion cubic foot per day (bcfd), up from 1.7 bcfd Tuesday. This compares to an average of 1.9 billion cubic feet per day over the previous seven days. Three liquefaction plants at Freeport can convert about 2.4 billion cubic feet per day of gas to LNG. A billion cubic feet of natural gas can supply five million U.S. households for one day. (Reporting and editing by Louise Heavens, Alexander Smith, and Scott DiSavino)
Houthis releases crew of Greek-operated freight ship struck in Red Sea
A maritime security source and an official from the operator of the Greek cargo ship Eternity C confirmed on Wednesday that the crew has been released. The ship was attacked by Yemeni Houthis in July, causing it to sink in the Red Sea.
The crew of Eternity C, a Liberian-flagged ship, abandoned it before the ship sank after repeated attacks by militants aligned with Iran using sea drones and grenades.
Rescuers rescued crew members from the Red Sea alive. Houthis claimed to have held a group, including a security guard.
The United States Mission to Yemen accused the Houthis and demanded their unconditional and immediate safe release.
The official of Cosmoship Management said that nine Filipino seafarers and one Russian, as well as one Indian, were expected to arrive in Oman on Wednesday evening.
Houthis targeted the Magic Seas days before they struck the Eternity C. The crew of the Magic Seas was rescued from it before it sank.
The attacks on the ships were a revival in a campaign of the Iran-aligned militants, who had attacked more than 100 vessels from November 2023 until December 2024 as a show of solidarity with Palestinians during the Gaza War. (Reporting and editing by Ed Osmond, Renee Maltezou)
(source: Reuters)