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California sues US Dept of Energy for Sable oil pipeline restart
California Attorney -General Rob Bonta announced on Monday that he had'sued' the U.S. Department of Energy for using a 'cold war era -law to restart the long disputed Sable Offshore pipeline system connecting the Santa Ynez off-shore platform to California refineries. U.S. Energy Secretary Chris Wright restarted pipelines earlier this month using powers granted by President Donald Trump via an executive order which invoked the Defense production Act?to override state laws. "We will not let this outrageous federal overreach pass without a fight," Bonta said at a Monday press conference. Bonta claimed Wright's restart orders violated state law, state court orders, and a settlement that was approved by a Federal court. The U.S. Department of Energy and Sable Offshore didn't immediately respond to our requests for comments. The lawsuit in San Francisco federal court is not yet available. Santa Ynez was shut down in 2015 after a spill of more than 100,000 gallons crude oil onto the beaches and Pacific Ocean near Santa Barbara. This lawsuit is part of a'series of conflicts' between Trump who wants to boost domestic fossil fuel production and California Governor Gavin Newsom who has championed the state’s ambitious climate agenda. Wright's order was issued as?fuel costs?have risen across the world due to the U.S./Israeli war against Iran. Sable announced earlier this month that it had 'begun shipping hydrocarbons from Las Flores Canyon Station to Pentland Station' on March 14 and expected to sell 50,000 barrels a day by April 1. California filed a lawsuit in?January over the decision of the Trump administration to reclassify two pipelines between California counties as "interstate". The 9th U.S. Circuit Court of Appeals is still hearing this case. Circuit Court of Appeals. (Reporting and Editing by Franklin Paul, Lincoln Feast and David Thomas)
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Trump urges Republicans to pass voting laws 'for Jesus.'
U.S. president Donald Trump invoked Jesus to urge Republicans in Congress to continue working through the upcoming Easter holiday to pass a voter identification bill that Democrats are strongly opposed to. Trump said that the bill on voting should be included in an agreement to fund Homeland Security, which is partially closed since February 13, after Democrats demanded immigration reforms. I'm asking the Republican Senators to do this immediately. You do not have to vote quickly. Do not worry about Easter. Go home. Trump said at a roundtable in Memphis, Tennessee, "Make this one for Jesus." The end of this week will see the beginning of a two-week Easter break for lawmakers. John Thune (a Republican) is the Senate Majority Leader. He has dismissed the idea of combining funding for the Department of Homeland Security with the voter ID bill. Thune said to reporters: "I'm sure you know that?that?s not realistic." Thune was referring to the Senate opposing the bill enough to sink it. Thune instead said that he hoped there would be a way to pass the DHS measure before the end the week. In a Senate address, Senate Democratic Leader Chuck Schumer said that Trump "tried to sabotage the negotiations by demanding that all talks cease until Congress passed the SAVE Act." The DHS funding bill still had a number of thorny problems to resolve. Democrats want Immigration and Customs enforcement agents to have a judicial warrant before they enter private property. Thune replied, "I don't know how to solve this one." "People must be able do their job. "The use of administrative warrants is a practice which has existed for many years," said Thune. Normall?, administrative warrants?have not normally been used to forcefully enter private homes. Thune has also resisted Trump’s calls to eliminate the "filibuster rule" in the Senate, so that Republicans can advance legislation without the support of Democrats. Lack of DHS funding has led to tens of thousands Transportation Security Administration employees working without pay for the past five weeks. Some airport security staff have called in sick or quit. The bill would require that voters provide proof of U.S. Citizenship to register and vote, as well as a photo ID when casting their ballots. The bill lacks 60 votes to pass the Senate where Republicans have 53 seats. Reporting by Bo Erickson and Ryan Patrick Jones; Editing by David Ljunggren Alistair Bell, Chris Reese
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Midi Station in Brussels is closed after suspicious bags are found
Officials said that the slow return of train services in Brussels was due to an evacuation at Midi Station, the largest station in the city, which took place on Monday evening. The police 'cleared the station? on Monday after suspicious bags had been found. This was a day following the 10th anniversary of terrorist attacks that killed many people. A spokesperson for Belgian railway infrastructure manager Infrabel said that the police and a bomb disposal unit of the army examined these bags and found they were not dangerous. The Brussels-Midi Station has been reopened after a thorough examination of suspicious packages. During rush hour in the evening, the station was evacuated and commuters cleared out as a precaution," said Bernard Quintin on the social media platform X. The majority of train traffic in Belgium's?capital? passes through Midi Station, but no trains arrived between approximately 5:30 p.m. (1630 GMT), and 8:00 pm (1900 GMT), said the Infrabel spokeswoman, adding that disruptions will continue for the remainder of the day. The station is the hub of high-speed connections between Brussels and Paris, London, Amsterdam, and Germany. The Midi Metro station was also closed. The Islamic State militants were responsible for coordinated bombings that killed dozens at the Brussels Airport and Maalbeek Metro Station on March 22, 2016. Belgian King Philippe, top Belgian authorities and the victims of this attack were honored on Sunday in a ceremony held at the metro station (Maalbeek) and the airport. In a separate measure on Monday, soldiers were also deployed in Brussels and other major Belgian cities to boost security for the Jewish community. This was in response to what officials described as antisemitic incidents in Belgium, the Netherlands, and elsewhere. (Reporting and editing by Andrew Cawthorne, Chris Reese, and Charlotte Van Campenhout)
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Italy's Poste wants to take Telecom Italia back into state control
Poste Italiane, backed by the state, has offered a cash-and-shares offer of 10.8 billion euros ($12.5 billion), to return?Telecom Italia? (TIM?) back into public hands. This is about?three years after a disastrous privatisation. The European Union is keen to?give? tighter control of assets that deal with critical data about households and businesses, in order to create champions who can counter the dominance by U.S. technology giants. TIM's Board met on Monday, and the company released a statement saying that the board had taken note of Poste’s offer. It added that the board had begun the evaluation process. Poste, which operates mail, financial and energy services as well as broadband, is owned two-thirds by the Italian government. Last year, Poste replaced France's Vivendi, TIM's largest shareholder, when it bought?27% its ordinary share capital. The company announced late Sunday that it would buy the remainder of TIM at 0.167 euros cash and 0.0218 newly-issued Poste shares per TIM share. This represents a 9.01% increase over Friday's closing prices. Poste's surprise bid sent its shares tumbling 7% Monday. TIM shares, which nearly doubled over the last 12 months, grew 5%. Poste and TIM spent months examining possible joint initiatives. Poste initially ruled out any move beyond the 30% threshold. Matteo Del Fante, CEO of Poste, said Monday that he realized he was not moving fast enough to take advantage of the opportunities he had in front him. COMPETITIVE ADVANTAGE Poste would gain control over TIM's network of data centers and Telsy's cybersecurity unit. It would also expand Poste’s role as a digital service provider for consumers, large businesses, and governments. Del Fante stated that "controlling core digital infrastructure, made up of networks, clouds, and edge computing, is essential for securing a sustainable competitive advantages" across all sectors where Poste operates. Del Fante said that Poste had decided to go ahead with the bid because investors were not interested in its other areas of business during a roadshow. They only asked questions about digital transformation and artificial intelligence adoption across services. Del Fante said that gaining more control over TIM would maximize the value of the investment the company is expecting to get from the former phone monopoly. Poste stated that the pre-tax benefits of the deal would be 700 million euros per year. Of this,?500 millions euros would come from cost reductions. Poste will be meeting with TIM directors later Monday to start evaluating the offer. Poste expects the deal to be completed by the end this year and have a positive effect on 'earnings-per-share from 2027. Barclays stated in a report the 9% premium offered by Poste looked low given the 'benefits TIM could get from further consolidating the hyper-competitive Italian Telecoms Market. Poste is bidding for the TIM shares it does not already hold, including those that TIM will convert into ordinary stock by May. Poste?funds its bid in part through newly-issued shares. Italy's stake if Poste?accepts the offer would be just over 50% if all TIM investors accepted. TIM's debt problems – a legacy from successive leveraged acquisitions following its privatisation – have been addressed by selling its fixed-line networks to a consortium headed by KKR, which includes the Italian government.
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Wall Street Indexes Rise After Trump Postpones Strikes on Iran's Power Plants
Oil prices dropped after President Donald Trump announced that he had told the military to delay strikes against Iranian power plants due to "productive discussions" with Tehran. Mohammad Baqer Qalibaf, Iran's Parliamentary Speaker, posted on social media, that no "talks" had been held between Iran and the U.S. This contradicts Trump's claim that the United States and Iran have just concluded a day-long meeting in which they reached "major agreement". He also said that a settlement could be made soon to end the war. The U.S. stock market fell sharply last week. However, it recovered quickly on Monday following Trump's remarks that sent oil prices down. The equities were trading lower in the morning after Trump's comments sent oil prices down. Iran has denied that Trump was trying to initiate talks with someone in Iran about ending the war. The Iranian denials have caused a significant increase in the stock market today, although it is not at its highest level. The preliminary data shows that the S&P 500 rose 73.77, or 1.13% to 6,580.25 while the Nasdaq Composite grew 300.94,?or 1.39, to 21,948.55. The Dow Jones Industrial Average grew 631.06 or 1.39% to 46,211.53. The CBOE Volatility Index (Wall Street's fear gauge) has retreated after reaching its highest level in two weeks. On Monday, oil prices fell by more than 10%. The S&P 500 has 11 major industries. Consumer discretionary, a cyclical sector, saw the biggest gains. Meanwhile, defensive sectors like healthcare and consumer staples showed a weaker performance. The price of oil is the only thing that matters. In the short-term, nothing else matters. When oil prices go down, stocks rise and vice versa," explained Bob Doll. Chief investment officer of Crossmark Global Investments. What's hot today isn't a big surprise. "It's about things that are sensitive to the economy." According to CME's FedWatch, investors have reduced their bets on an interest rate hike by the U.S. Federal Reserve from 25% to approximately 12% for December. After reducing bets on rate cuts last week, traders now believe that the rates will remain unchanged at year-end. This is after the central bank struck a more hawkish tone in response to rising inflation fears. On Monday, the Russell 2000 small-cap index outperformed large-capindices. The Russell 2000, which is sensitive for higher interest rates, ended Friday more than 10% below the record close from January 22. This confirmed that it was in correction territory. Alaska Air, American Airlines, and United Airlines were all up on Monday as oil prices fell. Norwegian Cruise Line, Carnival Corp. and Viking Holdings are all among the cruise ship operators that saw their shares soar. S&P 500 Banking Index showed its largest daily gain since before the war. This week, investors will be watching for Fed speakers, surveys of business activity and consumer sentiment. Synopsys stock has rallied since activist investor Elliott Investment Management made a multi-billion dollar investment in the electronic design and automation company. (Reporting from Sinead carew in New York; Purvi Agarwal in Bengaluru, Twesha dikshit in Bengaluru, and Johann Cherian at Bengaluru. Editing by Mrigank dhaniwala and Pooja desai.
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El Al Airlines will operate at only 5% capacity after the government imposed traffic limits
El Al Israel Airlines announced on Monday that it will'sharply reduce its operations, and the availability of seats will be reduced to 5% from a 'normal level. This is after the Transportation Ministry ordered traffic reductions at Ben Gurion Airport in Tel Aviv. Israel's flag airline, which has operated repatriation flights ever since the U.S. and Israel air war against Iran began on February 28, has called on the authorities to open Ramon Airport in the Red Sea town of Eilat to replace Ben Gurion. After a security assessment on Sunday, Transport Minister Miri regev decided to reduce the number of takeoffs from Ben Gurion in order to "prevent potential risks to human life". Israel's air defences intercepted over 90% of Iranian missiles that were fired at Israel. However, two failures occurred on Saturday night which resulted in scores of injuries to civilians in two Israeli southern cities. Regev stated that the decision limits an airport to only one incoming flight per hour and one outgoing flight. The number of passengers on the incoming flight is not restricted, while those on the outgoing flight are limited to 50. El Al stated that "special priority would be given to humanitarian and medical cases". After studying the implications of this new framework, the airline will only operate flights to a few key destinations: New York, Los Angeles and Miami, London, Paris Rome, Athens, London and Paris. El Al also called for the opening Ramon Airport to complement Ben Gurion Airport in order to maintain aviation activity and to?provide a viable solution for passengers," the statement said. Ramon is located near Eilat which borders Aqaba in Jordan and Taba in Egypt. Other Israeli carriers operate some flights from Ramon. Arkia Airlines, Israel's national airline, announced that it would be shifting its majority of operations to Aqaba and Taba. This includes flights to New York City and Bangkok. Ben Gurion will continue to be the hub for flights to and from Larnaca, Athens, and New York. Arkia CEO Oz Berlowitz said that under the current framework it was not possible to maintain regular operations. In?practice, this amounts to closing Israel's skies. "The company cannot be forced to choose between passengers that have already purchased tickets. Therefore, we are preparing a shift of most our operations to Aqaba or Taba airports in order to maintain aviation consistency as much as possible." Reporting by Steven Scheer, Editing by Emelia S. Sithole-Matarise and Arun Koyyur. Cynthia Osterman.
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Midi Station in Brussels is closed after suspicious bags are found
Midi Station, the largest station in the city, was evacuated by police on Monday after a suspicious bag was found. This was one day after the 10th anniversary of the deadly terror attacks. A police spokesperson said that the station was closed when a suspicious bag was discovered in a train, and another one on a platform. He added that police officers and a?anti-explosive army squad were investigating these bags. State-owned railway operator SNCB spokesperson Vincent Bayer said that most train traffic in Belgium's capital passes through the Midi Station, but since 5.30 pm (1630 GMT), no train has arrived or left. This station is the main hub for high-speed connections between Brussels and Paris, London, Amsterdam, and Germany. The Midi Metro station was also closed. The duration of the disruption has not yet been determined. SNCB stated?on its website? that it was awaiting?additional police information. The Islamic State militants killed dozens on March 22, 2016 in coordinated bombings at the?Brussels Airport, and Maalbeek Metro Station. Belgian King Philippe, along with top Belgian authorities, paid tribute to the victims of the attack on Sunday in a ceremony held at the Maalbeek metro station and airport. (Reporting and editing by Andrew Cawthorne; Inti Landauro)
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Alberta Premier says that Canada's pipeline project attracts Middle Eastern and Asian interest
Middle Eastern and Asian investors have shown early interest in a new crude oil pipeline project in Canada. They could become minor owners of the project, said Alberta Premier Danielle Smith on Monday. Alberta, Canada's main oil-producing province, has been exploring the feasibility of a new one-million-barrel-per-day crude oil pipeline to British Columbia's northwest coast to increase exports to Asia, but no private-sector company has committed to building a new pipeline yet. Canadian oil companies are hoping to increase sales in Asia over the next few years in order to diversify their business away from the United States. The United States currently purchases 90% of Canada's oil, in part because of the ongoing tensions that have arisen between the two long-time allies following the return of Donald Trump to the White House. Smith told reporters in Houston at the CERAWeek conference by S&P Global that global energy investors were increasingly interested in Canada as a haven from the geopolitical turmoil and the war in Iran. The Iran War has increased global demand for Canadian oil and gas. Last week, Canada committed to supplying the International Energy Agency with 23.6 million barrels of oil from its domestic producers. She said Alberta had been in contact with Middle Eastern sovereign funds, as well as Asian investors. She expects that foreign capital will emerge if Canada approves the federal fast-track for a new pipeline. "Probably not the majority stake but at least substantial stake." Smith replied, "Maybe 15 or 30 percent." Smith stated that the Alberta government would submit a formal proposal for a pipeline to the federal government by June. She said that if the project was approved for fast-tracking it would increase the chances of a private sector sponsor coming forward. Political and regulatory obstacles have plagued previous Canadian pipeline projects that were intended to increase the country's capacity for oil exports. Prime Minister Mark Carney promised to change this, promising a clear and effective approval process which will allow a new pipeline to be built and financed by private investors. Smith stated that while regulatory certainty is essential, the success of a new oil pipeline depends on the outcome of ongoing negotiations on carbon pricing policies between Alberta, Canada, and the oil sands sector. Carney's government has pledged to strengthen Canada’s industrial carbon pricing system. However, Smith argued that Canada's oil companies cannot increase production under the new system, which would put them at a disadvantage against their U.S. competitors. Alberta and the federal governments committed to a deal on carbon pricing this fall. A report published last week quoted industry sources saying that a deal would not be reached by the April 1 deadline because Canada's oil-sands companies were pushing back on the federal proposal. (Reporting and editing by David Gaffen in Houston, Amanda Stephenson)
Vivienne Westwood's clothes and jewels headed for auction
Dresses, matches, shoes and jewellery from the individual collection of late British designer Vivienne Westwood will go under the hammer this month in an auction aimed at raising funds for charity.
More than 200 lots are being provided by Christie's in London for the two-part Vivienne Westwood: The Individual Collection auction, comprised of a live sale on June 25 and an online auction running June 14-28.
Westwood, one of British style's biggest names, died in December 2022, aged 81. Her collaborator and widower Andreas Kronthaler has actually selected looks covering some 40 years for the auction, with the earliest from Westwood's Autumn-Winter 1983-1984 collection.
These are the important things that she chose to wear herself throughout the last 40 years of her life, Adrian Hume-Sayer, head of sale for the auction, told at a press sneak peek on Thursday. It's really personal ... These are the important things you can see her on her bike, riding around London, press interviews, end of the catwalk ... just conducting her daily life. But she likewise lived ... as she spoke. And so unlike many individuals ... in her position she wore things consistently. She had favourites.
Westwood, whose name was associated with 1970s punk disobedience, was likewise understood for her activism. Her Tee shirts bore slogans against fossil fuel-driven environment change and contamination, along with her assistance for WikiLeaks founder Julian Assange.
In addition to clothing and accessories, a set of bigger prints of a pack of playing cards Westwood created in 2017 - focusing on problems such as climate change and inequality - are likewise being sold with a price quote of 30,000 pounds - 50,000 pounds ($ 38,292 - $63,820).
Profits from the auction will go towards causes and charities Westwood supported - her own Vivienne Foundation, Greenpeace, Amnesty International and Médecins Sans Frontières, Christie's stated.
An exhibit of the lots will be open to the public at Christie's London from Friday until June 24.
(source: Reuters)