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NTSB investigates Delta flight which injured 25 people after severe turbulence
The National Transportation Safety Board is investigating the Delta Air Lines flight which took off from Salt Lake City Utah on Wednesday to Amsterdam. This flight injured 25 passengers and was diverted by severe turbulence to Minneapolis. Delta announced on Thursday that seven crew members who were hospitalized aboard the Airbus A330-900 have been released, and all passengers who were sent to hospitals to be evaluated by the airline but were willing to divulge their status have been released. Delta has said that it will cooperate with the NTSB's investigation. Delta Flight 56 was diverted from Wyoming to Minneapolis-Saint Paul Airport due to "significant turbulence", Delta reported. The plane carried 275 passengers plus 13 crew. Delta said that medical personnel evaluated all passengers after the plane had safely landed in Minneapolis. After reaching an altitude of 37,000 feet, the aircraft experienced turbulence. It briefly climbed to 38,000 feet, before descending to a little below 35,800. FlightRadar24, a flight tracking service, reports that it stabilized later at 37,000 feet. Delta will operate an unscheduled flight on Thursday evening from Minneapolis to Amsterdam to transport affected customers. Reporting by Disha Mihsra from Bengaluru, and David Shepardson from Washington; editing by Kate Mayberry and Aurora Ellis
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Uber claims some sexual assault accusers presented fake receipts
Uber found that in more than 100 cases, passengers who accused its drivers of sexual assault or harassment provided bogus or doctored invoices as proof or failed to explain why they could not provide receipts. Uber filed a court document on Wednesday urging U.S. district judge Charles Breyer to order that 21 plaintiffs who had receipts they questioned justify their claims and 90 plaintiffs provide receipts, or non-standard reasons, for their absence. Court documents show that at least 11 law offices represent plaintiffs. These firms did not respond immediately to Thursday's requests for comments or had no comment. These firms were not accused. Uber is seeking to limit its liability for the nationwide federal litigation that includes more than 2,450 lawsuits alleging misconduct by drivers. The company faces hundreds of additional lawsuits at San Francisco Superior Court. San Francisco-based Uber has claimed that it is not liable for criminal acts committed by drivers who connect with passengers and that background checks and disclosures are sufficient. Breyer dismissed on July 8 some fraud and liability allegations that were based upon ads promoting Uber as a safer alternative to drunken driving. Uber's Wednesday filing revealed that some fake receipts appeared to have been generated by third-party websites. Uber claimed that some receipts had math errors, bogus surcharges or were renamed male driver names. They also said that they were timestamped prior to rides, contained stray marks or did not match their own formatting. The company stated that one plaintiff had submitted two receipts, and two plaintiffs had submitted different versions of a receipt. Uber stated that honesty is the most important factor in maintaining the integrity of a judicial system. It is hard to imagine a more grave act of misconduct than the fabrication of evidence by plaintiffs in this case. In re Uber Technologies Inc. Passenger Sexual Assault Case, U.S. District Court Northern District of California No. 23-03084. Reporting by Jonathan Stempel, New York Editing Rod Nickel
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Top Senate Democrat criticizes Union Pacific's deal to purchase Norfolk Southern
Chuck Schumer, Senate Democratic Leader on Thursday, criticized Union Pacific’s plan to buy Norfolk Southern for $85 billion. This would create the United States’ first coast-to-coast rail freight operator. Schumer claimed that the deal would "push us even further down a dangerous road of consolidation and monopoly... This is an aggressive takeover of America’s infrastructure." He added that "decades of railroad consolidations have resulted in worse service, safety, and working conditions for shippers, which has led to higher costs for them - ultimately leading to higher prices for the consumers." When asked about Schumer’s remarks, Union Pacific and Norfolk Southern said they "are committed to maintaining union jobs, growing their workforce, and reaching regions in America that are not currently served, as more goods move to rail." It said: "This deal focuses on moving America ahead, supporting reindustrialization and moving product more efficiently throughout the nation." Norfolk declined to make any comment. Surface Transportation Board revealed on Wednesday that Union Pacific and Norfolk Southern have formally filed an intent to merge, initiating the U.S. regulatory approval process. The STB stated that the railroads plan to submit their application before January 29. The board will review the application once it is filed and then set a timeline for the merger review, which could take up to 12-18 months. Schumer cited the opposition of the Transportation Division of SMART, International Association of Sheet Metal, Air, Rail and Transportation Workers, which is the largest railroad union. He said that if the deal is approved, "it would reduce the industry from four to three major players," Schumer and Democrats in 2023 have pushed for new rail legislation to tighten the rules on trains that carry explosive substances, like the Norfolk Southern operated train which derailed in East Palestine Ohio and caught fire, releasing hazardous materials and pollutants. The bill was opposed by many Republicans and never passed in the House or Senate. (Reporting and Editing by Bill Berkrot.)
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Panama Communities Challenge Canal Expansion Project in Supreme Court
Coordinadora Campesina por la Vida, which represents farmers in Panama, said that communities affected by a $1.6billion project to build a new massive water reservoir by the Panama Canal on Thursday filed a lawsuit with the Supreme Court to declare the project as unconstitutional. The canal, an important global freight route, said that the project to build the reservoir in Rio Indio was essential to expand operations and manage water resources after recent droughts in 2023-2024 forced them to limit transits. Santander Tristan said, "We want to make it clear that the Canal did not do things correctly, and that the Rio Indio Project be stopped, as well as a dialogue process being opened." According to data from the canal authority, around 2,500 people may be affected by this project. The suit filed by the groups alleges six ways in which the project would be in violation of the constitution, including the disregard for international environmental and human rights treaties that the country has signed. The canal authority is also accused of failing to consult the affected communities in advance. Florentin Chiru is the vice-president for Coordinadora Campesina a rural organization that filed the lawsuit. He said the canal authority lied by claiming that 85% percent of the communities they polled were in favor of the project. "They never asked the crucial questions; gentlemen, would you like to leave your country, yes or not? Chiru asked, "What kind of census was that?"
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LSEG data shows that Freeport LNG flows are still restricted after the power outage.
According to data provided by financial firm LSEG, the Freeport LNG export facility in Texas operated at half its normal capacity on Thursday after a power outage that had taken the plant offline a few days earlier. Freeport LNG, the third largest liquefied gas plant in the U.S., has historically influenced LNG price when there were technical issues. According to LSEG data on Thursday, the facility produced 1.1 billion cubic foot of natural gas, which is about half of what it typically produces when operating normally, 2.2 bcf. The company stated that all of its trains ran on Thursday but refused to comment on the LSEG statistics. In a Wednesday filing to the state regulator, Texas Commission on Environmental Quality (TCEQ), the company said that due to an interruption in power, all three of its train had been taken offline. Freeport stated in its filing that the plant operators were able to quickly restore normal operation of Trains 1, 2 and 3 to reduce vent gas to flare. The event lasted approximately nine hours. According to TCEQ, Freeport LNG experienced frequent outages. In July alone, the Texas facility reported seven trips. (Editing by David Holmes).
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Azeri BTC arriving at Ceyhan is within normal specifications, BP states
Azeri BTC Crude Oil arriving at BTC Ceyhan Terminal in Turkey has returned to its normal specifications, a BP spokeswoman said on Thursday. Last week, it was discovered that Azeri BTC crude cargoes contained organic chloride. This caused the price differentials between them to reach a record low of four years and caused several days delay in loading, partly due to extra testing each cargo underwent. The BP spokesperson stated that oil loadings are still being done from Ceyhan tanks containing oil of the right specification, while BP works with Azerbaijan’s Socar in order to manage oil of the wrong specification found in other tanks. According to Kpler's data, 425,000 barrels of Azeri BTC were loaded daily from Ceyhan between 1-30 July. This is compared to 561,000 bpd that was scheduled for the July loading program. The exact date of the contamination and the number of cargoes affected are still unknown. Reporting by Robert Harvey, Shadia Nasralla and Kirovan Donovan.
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Vulcan misses its quarterly estimate as adverse weather dampens the construction
Vulcan Materials reported second-quarter revenue, profit and earnings below Wall Street expectations on Thursday as weather disruptions caused construction to slow down and reduced demand for construction materials. The demand for construction materials has been hit by persistent inflation which has driven up the operational costs of corporations. Construction spending was also affected by higher borrowing costs. Tom Hill, CEO of the company, said that despite weather challenges our pricing discipline and cost performance led to an increase of 13% in aggregates gross profit per ton. The company reported $2.10billion in revenue for the three months ended June 30. This is up 4.4% compared to a year ago. According to LSEG data, analysts had on average expected $2.19billion. Vulcan Materials, based in Birmingham, Alabama, sells crushed stone, sand and gravel and supplies asphalt to six states, including Texas and California. The company also produces ready-mixed cement in California, Maryland and Virginia. Materials are delivered by barge, rail, truck and ship. Vulcan's adjusted profit per share was $2.45. Analysts had predicted a profit per share of $2.54 on average. CEO Hill said that "our execution in the first six months of the year, along with the acceleration of new highway construction in our markets, supports our outlook for the full-year to deliver $2.35-2.55 billion in Adjusted EBITDA", he added. Reporting by Abhinav Paramar in Bengaluru, Editing by Maju Sam
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Howmet raises 2025 forecast on robust aerospace demand
Howmet Aerospace increased its full-year revenue and profit forecast on Thursday. It attributed the increase in jet production to the strong demand for fasteners, engine components and other parts. In premarket trading, shares of the aerospace company, which counts Airbus as a customer, rose 3.5%. Howmet, for example, has benefited from the increased production of planes due to the growing demand for air travel. Howmet CEO John Plant stated in a press release that "we acknowledge positive signs regarding narrow-body construction rate increases, especially on the Boeing 737 MAX". Boeing delivered 206 of its 737 MAX jets in the first half, compared to 135 the previous year. Airline delays due to supply-chain bottlenecks have also caused airlines to extend the life of older aircraft. This has led to a spike in aftermarket part orders. The aerospace supply chain has been put under pressure by President Donald Trump’s tariffs, which include levies against trading partners and broad tariffs on steel and aluminum. Howmet, a Pennsylvania-based company, has announced that it will pass on the inflated costs of tariffs through increased prices to its customers. It anticipates revenue in 2025 to range between $8.08 and $8.18 Billion, as opposed to its previous forecast of $7.88 and $8.18 Billion. Howmet has also increased its adjusted profit forecast for 2025 to between $3.56 to $3.64 per shared, up from its previous range of $3.36-4.44. The second-quarter revenue grew 9.2%, to $2.05billion. This was driven by a 8% rise in sales of commercial aerospace. The company's adjusted earnings per share were 91 cents, up from 67cents a year earlier. (Reporting by Utkarsh Shetti in Bengaluru; Editing by Shilpi Majumdar)
SK Innovation reports improved refining margins for Q3, Q2 losses worsen
SK Innovation Co Ltd, the owner of South Korea’s largest refiner SK Energy said that it expected third-quarter margins for refining to improve, after losses increased in the second quarter.
In a press release, SK Innovation stated that "Sales and Operating Profit fell compared to previous quarters due to difficult external environments such as global economic insecurity, tariff impact and falling oil price."
It said that "further improvements are expected in refining profit margins in the third quarter. (And) easing of tariff risks, and increased sales volume in Europe for the battery business in Europe will positively impact earnings improvement."
The company reported an operating loss for the period April to June of 418 billion won (about 301.20 millions dollars), compared to a loss of about 45.8 billion won one year ago.
The results were lower than the average analyst's forecast of a 140 billion won (US) loss compiled by LSEG SmartEstimate. $1 = 1,387.8000 Won (Reporting and Editing by Himani Sark and Neil Fullick; Reporting by Joyce Lee and Heekyong Yay)
(source: Reuters)