Latest News
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Sweden sends radars and anti-drone systems to Denmark in support of summit security
Sweden will provide military capabilities to counter drones for Denmark in conjunction with the Copenhagen summit this week. Drone sightings forced Denmark last week to close several airports. Denmark will host EU leaders in Copenhagen on Wednesday. Then, on Thursday, the 47-member European Political Community will meet. It has already increased security following the drone incursions. Kristersson stated in a social media post that Sweden would send Counter UAS Systems and that, separately, his country had shipped "a handful of" radar systems to Denmark on Sunday. On Sunday, Denmark ordered A ban on drone flights by civilians After drones were seen at several military installations overnight. Reporting by Louise Breusch Rasmussen and editing by Terje Solsvik
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KLM loses Delta Air France and Air France ground service customers
Air France KLM, the Dutch branch of Air France KLM, announced on Monday that Air France and Delta will no longer use its ground services in Amsterdam Schiphol Airport following the weeks-long strikes of its ground crew. KLM said that the airlines told them they were looking for a new ground handling partner in Schiphol - one of Europe's most busy airports. KLM issued a statement saying that the decision had immediate operational implications, especially for its ground services division. The financial and employment implications of this decision is currently being assessed. Delta and Air France have not responded to comments. KLM Amsterdam's ground crew has been striking for several weeks, demanding higher wages and improved working conditions. This led to hundreds of cancellations. Anoesjka Aspeslagh, KLM's spokesperson said: "This played a major role in Delta and Air France's decision." They have suffered damages of millions of Euros and were forced to disappoint many of their clients. The CNV, a labour union, said that the decision of KLM's partners had nothing to do with the strike. It would not affect the resolve of the ground crew. Souleiman Amallah, the union's spokesman for CNV, said that the negotiations between the airlines concerned had just begun. KLM struck a deal earlier this month with a number of unions. However, not with two major ones who have continued to strike and announced a larger and newer strike on Wednesday. The court ruled on Monday that the strike could only take place if the unions guarantee the flights of KLM’s international partners will not be affected. KLM Ground Services handles 17 Delta daily incoming flights and 12 Air France flights, for a total 380 flights per day.
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Japan protests China’s ocean research in exclusive Economic Zone
Yoshimasa Hayashi, the chief cabinet secretary of Japan, said that after spotting a Chinese ship in the southwest region of the country, Japan had lodged a complaint with China asking it to cease ocean research in Japan's Exclusive Economic Zones (EEZ). Hayashi reported that the Japanese Coast Guard discovered the Chinese vessel "Xiang Yang Hong 22," extending a metal-like object in the ocean within the Japanese EEZ, about 379 km (235 miles), west of Amami Oshima island early Sunday morning. Hayashi, the Japanese government's top spokesperson, said that the Chinese government was not allowed to conduct marine scientific research without Japan consent. He said that the Chinese vessel left the water and headed west about three hours after he spoke. Tokyo and Beijing face a territorial dispute over a group of Japanese-administered islands in the East China Sea, called the Senkaku in Japan and Diaoyu in China. (Reporting and editing by Jacqueline Wong; Kantaro Kommiya)
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New York Times Business News - September 29,
These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. As officials rushed to fix a border inspection kiosk outage, passengers arriving at major Canadian airports on Sunday reported being stuck on planes and in terminals crowded with people waiting for immigration. The U.S. president Donald Trump will hold a meeting with four of the top leaders in Congress at the White House, on Monday. This is the day before the deadline for averting a shutdown. On Sunday, Mayor Eric Adams announced that he was abandoning his stumbling campaign for a new term. This decision radically changed the race for the leadership of the largest city in the United States just five weeks prior to Election Day. Police said that a stowaway found dead inside the wheel wells of an American Airlines flight at Charlotte Douglas International Airport, North Carolina after its arrival from Europe. (Compiled Bengaluru Newsroom)
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Lufthansa cuts 4,000 jobs and targets higher profitability
The German airline group announced on Monday that it would cut 4,000 administrative positions by 2030, and also set higher profit targets. It is seeking to increase efficiency through automation and digitalisation. Lufthansa announced its first capital markets day for six years that it now expects to achieve an adjusted EBIT of 8-10% by 2028. This is up from the previous goal of only 8%. It also aims at adjusted free cash flows of over 2.5 billion euros ($2.9billion) per year. Last week, it was reported that Lufthansa intended to reduce about 20% of non-operational employees. The company stated that the reductions would be made in Germany, in consultation with its social partners. The group plans to increase its fleet by 230 aircraft and improve the returns of its airlines through a deeper level of cooperation. $1 = 0.8527 Euros (Reporting and editing by Kirsti Knolle, David Goodman and Ozan Ergenay in Gdansk)
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Wall Street Journal, September 29,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch for the accuracy of these stories. Danish biotechnology firm Genmab has agreed to purchase cancer treatment developer Merus, listed on Nasdaq, for approximately $8 billion in cash. U.S. president Trump and congressional leaders will hold last-minute discussions just as Republicans are preparing for a shutdown of the government by mid-week, which could include a new round of firings. Hegseth, the Defense Secretary, will address senior officers and enlisted members of the military at a gathering that will be held on Tuesday. Due to the introduction of artificial intelligence, and automation, Deutsche Lufthansa will cut 4,000 administrative positions by 2030. This will be mainly in Germany. Russia launched over 600 drones, and dozens missiles, at Ukraine Saturday night and early Sunday morning. This was one of the biggest aerial attacks in the war while the United Nations General Assembly is still in session.
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Two dead, 17 missing after Typhoon Bualoi strikes Vietnam
After Typhoon Bualoi struck Vietnam on Monday, two people were killed and 17 more missing. Houses were damaged and power lines knocked down as the storm brought huge swells and flooding rains before losing strength as it moved towards Laos. Bualoi moved along the northern central coast of the country before it made landfall on Monday morning, causing eight-metre waves, according to the National Weather Agency. The government's disaster agency reported that one person was killed after being trapped in floodwater in Hue, while another died from a falling branch in Thanh Hoa Province. According to the agency, 17 fishermen are missing after two fishing boats were hit by huge waves off Quang tri province. Another fishing boat also lost contact with the other during the storm. Nguyen Thuan Vinh, 45, said in Nghe An Province as he cleaned up the debris: "I have seen many storms and this one is by far the strongest." Vinh's neighbors said that they were up all night protecting their homes even though the power went out in their apartment building. Ho Van Quynh, a resident of Ho Van Quynh said: "I was afraid that the strong winds would pull the door off." The weather agency reported that by 11:00 a.m. (0400 GMT), typhoons were moving across Nghe An Province into Laos. Maximum wind speeds had weakened to 74 km/h, from 117 km/h at the time of landfall. Bualoi, according to a disaster management report, has damaged 245 homes, submerged nearly 1,400 acres of rice and other crops and cut off several areas. The report does not mention any major damages to industrial property, although there are several large factories near or in Bualoi’s path including those owned and operated by Foxconn (or Luxshare), Formosa Plastics, Vinfast, Formosa Plastics, etc. The government evacuated over 28,500 people before the typhoon hit, and hundreds of flights were delayed or cancelled as four airports closed in central provinces. Authorities have warned that heavy rains could cause severe flooding and landslides. According to the weather agency, rain was expected to reach 500 millimetres in some parts of the country from Sunday night to Tuesday. Vietnam's long coastline, which faces the South China Sea and is often affected by typhoons, makes it prone to these storms. Last week, Bualoi caused at least 10 deaths in the Philippines. Reporting by Khanh Vu from Hanoi, and Thinh Nguyen from Nghe An. Editing by John Mair.
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This week in Asian Football
Discussion points on Asian football this week: KASHIMA THROWNAGOYA TO MAINTAIN LEADER IN JAPAN Kashima Antlers defeated Nagoya Grampus by 4-0 on Sunday to maintain a four-point advantage over Vissel Kobe, the defending champions in Japan. Kashima won the match after Elber and Leo Ceara scored in the first 20 minutes. Homare Tokuda then scored two goals in the last 2 minutes. Kobe won 2-1 over Shimizu S-Pulse thanks to a goal from Gotoku Sakai in stoppage time. LEONARDO DOUBLE PUTS SHANGHAI BACK ON TOP OF CHINA Shanghai Port, the defending champions of the Chinese Super League, moved back to the top with a 3-2 victory over Wuhan Three Towns in the Chinese Super League on Friday. Leonardo equalised in the 85th minute before scoring seven minutes into extra time to help Port take advantage of Chengdu Rongcheng’s 3-3 draw against Zhejiang FC. Chengdu lost a three-goal lead at halftime in Hangzhou. Yago Cariello equalized for the hosts after 10 minutes of stoppage time. Chengdu now sits second, two points back from Port, with four matches remaining. JEONBUK'S LEAD OVER SEOUL IN KOREA NARROWS AFTER DRAWING WITH THEM Jeonbuk Motors' lead in the K League was trimmed by two points on Saturday, as Gus Poyet’s team were held to a 1-1 draw with FC Seoul. Meanwhile, Gimcheon Sangmoo defeated Pohang Steelers 2-0 despite having 10 players. Yeon Jeun's own goal in the 96th minute denied Jeonbuk three points. However, Jeonbuk still has a 15-point lead. Gimcheon won after Lee Dong Hee's dismissal in the 42nd minutes gave the army the upper hand. After the break, goals from Lee Dong Gyeong and Won Ki Jong sealed the victory. AL-NASSR DOWN CHAMPIONS AL-ITTIHAD TO MOVE TWO POINTS CLEAR Al-Nassr, which is currently leading the Saudi Pro League, defeated Al-Ittihad by a 2-0 score on Friday. Al-Ittihad's Laurent Blanc lost his job after the defeat. Al-Nassr now has a two-point lead over Al-Qadsiah in second place, which won 1-0 at home against Al-Fateh. Al-Ittihad drops to third, a further one point behind. They are now level with Al-Taawoun and Neom on nine points after the first four matches of the new season. (Reporting and Editing by Peter Rutherford, Michael Church)
Executives, trade and labor associations comment on Trump's reciprocal duties
U.S. president Donald Trump announced on Wednesday that he will impose a baseline 10% tariff on all imports into the United States, and higher duties for some of the biggest trading partners. This could escalate a global trade war and upset the global economy.
The latest responses from business executives, unions and trade associations.
Companies
GERMANY'S FRESENIUS
"We... strongly support the proposal to exclude pharmaceuticals from the reciprocal tariff, as such a tariff could potentially lead to shortages of important medicines for American patients."
STEEL GROUP APERAM
We will examine the feasibility of moving some of our production to other countries if we are able to export limited quantities from the EU into the U.S.
The current lack of predictability in regulatory matters creates a hostile business environment both on the US and European sides.
STELLANTIS
The automaker announced that it would temporarily stop production in some of its Canadian assembly plants and Mexican assembly factories, including its Windsor assembly facility in Canada.
ANTONIO BARAVALLE is the CEO of LAVAZZA
We had planned to increase the local production (in the U.S.A.) by 100%.
"We're ready to go... but there's this other element to investigate, the duties for Brasil... If they impose a 10% duty, then the 20% duty is already half.
The coffee maker produces about 50% of the amount it sells locally in the U.S.
FERRARI
The purchase contracts for Ferraris contain standard and clear clauses that allow the company to adjust the price in the event of a change in the market conditions before the vehicle is delivered.
A Ferrari spokesperson confirmed that new tariffs would also be applied to Ferraris ordered in the past but not delivered to the U.S.
MOTOFUMI SHITARA, CEO, YAMAHA MOTOR
"Our exports will certainly be affected." We will have to raise prices or reduce costs if these tariffs are extended over time, even for vehicles.
MAERSK
"We expect our customers to be more careful about their stock levels." We're likely going to see rush orders for air freight in the U.S. very soon, before the tariffs go into effect. We will also see an increase in the demand for bonded warehouses as customers want to delay clearing their goods until they have more certainty."
GERRESHEIMER
Tariffs are primarily affecting our exports to the U.S. from our Mexico-based plant. Injection vials are one example. We will pass on these customs fees to our customers as an additional cost. We will be able, if necessary and if customs duties remain in place for a longer period of time, to move our capacities.
MASSIMO BATTAINI is the CEO of PRYSMIAN
The announcement seems to have had a positive effect on the local production. The tariffs are applied to the finished products and removes any risk of U.S. producers being undercut by foreign production.
ANDERS VINDEGG HEAD OF MEDIA RELATIONS, HYDRO
"We work actively from Norway as well as in Brussels, the EU to inform and to actively work with the organizations and other measures we're part of in order to leverage the importance Norwegian aluminium for Europe."
ASSOCIATIONS
EUROCOMMERCE, EUROPEAN RETAIL INDUSTRY BODGE
"EuroCommerce urges the EU and U.S. Administrations to engage constructively in dialogue. In the event that negotiations fail, EU can use its legal authority to take action against unfair trade practices by third-country countries. The EU has a wide range of tools to help it address the situation.
International Apparel Federation
The announcement by the U.S. Government of high taxes on trade with the rest is a shock to the global apparel industry. This unnecessarily creates an entirely new, often irrational world that affects billions of dollars in investments and the lives and livelihoods of tens and millions of people who work in our industry worldwide. Someone will pay the price in the end."
CANADIAN STEEL ASSOCATION
To reduce its dependence, the Canadian Steel Industry urgently needs the adoption of border measures to address unfair trade in steel in Canada, and help recapture the Canadian Market for our industry, workers, and communities.
The Spanish Association of Olive Oil Exporters
This 20% is a serious disadvantage for the Spanish olive oil industry, as compared to other countries that produce olive oil but do not belong to the European Union.
"98% (of the olive oil consumed by Americans) is imported, so these tariffs would result in an increased purchase price which will be paid by U.S. consumers." consumers."
KEVIN C RAVEN, CEO of ADS GROUP on AEROSPACE COMPONENTS
We are not sure if the exemption from all tariffs (on items classified as airworthy by regulators) is still in place and if these tariffs are applicable or not. This could make the situation worse.
COPA-COGECA EU FARMING GROUPS
The introduction of additional tariffs could disrupt global supply chains and drive up prices. It would also limit the market access of farmers and agricooperatives from both sides of Atlantic. This will have significant economic implications for the agricultural industry.
ANTHONY BRUN, HEAD OF FRENCH GROWERS ASSOCIATION (UGVC)
"One might have been frightened by much higher tariffs. However, this risk remains and is associated with a possible conflict over bourbon whisky. Already, we face tariffs from China. Now, there is the U.S. and the consequences are going to be brutal for wine growers.
ETHAN LANE SENIOR V.P. OF GOVERNMENT AFFILIATIONS, NATIONAL CATFARMERS BEEF ASSOCIATION
"President Trump has taken action to remove numerous trade barriers which prevent overseas consumers from enjoying high quality, wholesome American Beef. NCBA will engage with the White House in order to optimize export opportunities and ensure fair treatment of America's beef producers worldwide.
SIGRID de VRIES, DIRECTOR GENERAL, EUROPEAN MOBILE MANUFACTURERS ASSOCIATION
"We urge both leaders to meet immediately to find a resolution to any issues that prevent free and fair trading between historical allies, and to allow the EU-US relations to flourish again."
SWISS BUSINESS GROUP ECONOMISSE
"Another escalation in the trade conflict is to be avoided. Swiss economic diplomacy and the Federal Council are urged to find quick solutions with the U.S. Government at the negotiation table. "From an economic perspective, the U.S. tariffs on Switzerland are not comprehensible - rather the opposite."
DIRK JANDURA HEAD OF GERMANY EXPORTERS ASSOCIATION (BGA)
"We'll have to pass on these tariffs as price increases and this will impact turnover in many instances." It is an economic dead end that will result in welfare losses on both sides of Atlantic. (Reporting and compilation by Bureax; edited by Alan Barona and Milla Nissi, and Alessandro Parodi.
(source: Reuters)