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American Airlines reduces some management and support roles
American Airlines announced on Tuesday that it would be eliminating a small number of management and staff positions in order to adjust its workforce. The airline stated that the layoffs primarily occurred at the Fort Worth headquarters, which will allow it to become more efficient throughout the organization. The carrier had previously stated that it planned to save more than 750 million dollars in costs by the end this year. This is thanks to its efforts to reengineer the business. In North America, airlines have reduced corporate roles in order to control costs and protect margins after the post-pandemic travel surge. Air Canada, a Canadian carrier, cut 400 management jobs, or about 1% of their workforce, last month. Southwest Airlines announced earlier this year that it would be cutting 15% of corporate jobs. This is the first time in 54 years that Southwest Airlines has made such a cut. American Airlines has not specified the number of positions it is eliminating.
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Royal Air Maroc CEO: First aircraft to be delivered in 2028
Abdelhamid Addou, CEO of Royal Air Maroc, said that the Moroccan national carrier Royal Air Maroc expects to start receiving aircraft in 2028 from a major tender for fleet expansion. Addou stated that the tender, launched in April of 2024, is for 200 aircraft up to 2037. The company is currently evaluating Boeing, Airbus, and Embraer's offers. Addou, a reporter at the Arab Air Carriers' Organization General Assembly held in Rabat, said that the tender was currently being finalised. Addou did not disclose the exact value of the tender, but said that about 25% of the order would be wide-body aircraft. The remainder will be narrow-body jets. RAM is expecting to receive 15 new aircraft per year on average starting in 2028. Addou said that the airline would introduce up to thirteen aircraft each year in the interim. RAM has a strategy that includes expanding its fleet to become a regional hub carrier connecting Africa, Europe and North America via its Casablanca-based base. According to the ONDA, Morocco also launched a bid for a new terminal at its airport that will allow it to increase passenger capacity from 10.5 million to 35 millions by 2029. (Reporting and editing by David Goodman.)
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FAA stops traffic at Washington DC Airport after threat against plane reported
The Federal Aviation Administration halted Tuesday traffic at Reagan Washington National Airport following a report of a threat made against a United Airlines flight. The FAA reported that operations had been halted due to a reported issue with security. Passengers have already left the plane and the aircraft has moved away from the terminal for the investigation. According to a person who was briefed in the matter, a threat against the plane had been made and the plane is being checked out of an abundance caution. United directed questions to the FBI. The FBI did respond immediately to a comment request. Reagan Airport is only 5 miles away from the White House, and the FAA has imposed special security restrictions in the airspace. FlightRadar24 - a flight tracker - said that the issue was caused by an unconfirmed terrorist threat made against a United Flight arriving from Houston. The airport is preparing to open just before 1 pm. ET. FlightAware reports that more than 160 flights were delayed at Reagan. Reporting by David Shepardson, Washington; additional reporting from Rajesh Kumar Singh, Chicago Editing by Franklin Paul & Chizu Nomiyama
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A man accused of 'throwing things' at a federal agent after he threw a sandwich is on trial in Washington
A federal prosecutor told a jury on Tuesday that "You can't just go around throwing things." Sean Dunn faces a misdemeanor charge of assault in a case which has gained widespread attention since video of the incident went viral. Dunn was a Justice Department international case worker who became an unlikely symbol for resistance to Trump's law-enforcement surge in Washington, D.C., and was scorned Trump administration officials. Dunn has not pleaded guilty. John Parron, the prosecutor, said in his opening remarks that "you can't just throw things at people because you're angry." Dunn was captured on video on August 10 throwing a sub sandwich and shouting at a U.S. Customs and Border Protection agent who was on a crime prevention patrol in a Washington neighborhood. Trump had ordered an increase in federal law enforcement in Washington to combat what he described as an out of control crime problem, even though police statistics showed a decrease in violent crimes following an earlier rise. Julia Gatto was the lawyer representing Dunn. She told the jury that Dunn had done it. He threw it." Gatto, however, argued that it was impossible for the sandwich to harm or interfere with law enforcement. He called it a harmless gesture. "Mr. Gatto stated in her opening remarks that Dunn is very passionate about the policies which brought these officers to this place. He believes that recent immigration enforcement is racist. He believes that the militarization of federal law enforcement and the takeover by the government is fascism. Federal prosecutors initially sought a felony against Dunn but reduced the charge to a misdemeanor when a grand jury refused to approve the indictment. Gregory Lairmore testified, a 23 year veteran of U.S. Customs and Border Protection, that Dunn shouted at officers before throwing the sandwich. Lairmore testified to the jury that the sandwich exploded all over his uniform, smelling of "onions and mustard." He said he felt the impact from his ballistic vest.
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Officials see'massive chaos' as a result of the shutdown, which may force US to shut down some airspace next week.
Transportation Secretary Sean Duffy warned on Tuesday that if federal government shutdown continued another week, it could cause "mass confusion" and force him to shut down some national airspace for air traffic. This drastic measure could disrupt American aviation. "If you take us back to a week's time, Democrats, there will be mass chaos and mass flight delays." Duffy told a Tuesday press conference that you'll likely see a lot of cancellations and we may even close some parts of the airspace because we can't manage it. U.S. Aviation has already experienced tens and thousands of delays in the last month. These comments were the most dire warnings from the Trump administration about impending effects of rising air traffic control absences. The Federal Aviation Administration (FAA) delayed flights again on Tuesday as the shutdown entered its third week. Airlines reported that 3.2 million passengers were affected by flight delays or cancellations this week due to an increase in air traffic controller absenteeism. FAA Administrator Bryan Bedford said on Fox Business' "Varney & Co." that in the 30 largest airports of the FAA, "anywhere between 20 and 40% of our controllers don't come to work." Democrats accuse Republicans of not negotiating to reopen government with them. The shutdown has worsened the staffing shortages. 13,000 air traffic control officers and 50,000 Transportation Security Administration agents have been forced to work without pay. In 2019, disruptions to air travel forced lawmakers to end a 35-day shutdown of the government during Donald Trump's inaugural term. Duffy said he would shut down the U.S. Aviation System if the shutdown made it too dangerous to travel. The FAA reported that on Friday, nearly half of America's busiest airports were facing shortages of air traffic control in the worst single day since the shutdown started. The agency reported that 80% of the air traffic controllers in New York were absent on Friday. David Shepardson, David Gregorio and David Shepardson contributed to the report.
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Hertz soaring after swinging third-quarter profits
Hertz Global reported a profit for the third quarter after almost two years, thanks to used car sales and an updated fleet of rental vehicles. The company's shares rose by 42% on Tuesday. In order to combat a decline in rental activity, the company has tried to diversify its operations by overhauling its vehicle fleet. It also offers a marketplace for online car purchases. In recent years, a slump in demand led it to sell off a large portion of its electric vehicle fleet and replace them with gas-powered vehicles. Hertz sold off a majority its Teslas in the past year citing increased repair costs. Hertz earned an adjusted 12 cents per diluted share in the third quarter. This compares to analysts' estimates of 2 cents a share, according LSEG. Its quarterly revenue was down 4%, to $2.5 billion compared with a year earlier. However, it still exceeded estimates of $2.4billion. Nathan Gomes, Bengaluru. Edited by Shreya Biwas.
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Lula: CELAC summit will discuss Venezuela and US military presence
The Brazilian President Luiz inacio Lula da silva said on Tuesday he would discuss Venezuelan issues and the increased U.S. presence in Latin America during the CELAC Summit at the end of this month. He told reporters in Belem, ahead of the COP30 Climate Summit: "The CELAC Meeting only makes sense if we are going to talk about the U.S. Warships." In recent months the U.S. has increased its military presence in Caribbean, and U.S. president Donald Trump said his administration would carry out strikes on drug-related targets in Venezuela. Lula stated that Venezuela has a political issue that must be addressed in the political arena. He added that he told Trump during a recent encounter that Latin America was a region that is peaceful, not violent. (Reporting and writing by Isabel Teles, Lisandra Paraguassu, Katy Daigle)
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Lula says Brazil will seek independent probe into 'disastrous' Rio police raid
The Brazilian president Luiz inacio Lula da silva said on Tuesday that his government would push for an independent investigation into the raid by police last week, which killed 121 people including four police officers. He told reporters in Belem, ahead of the COP30 summit on climate change: "It is important to know under what circumstances it occurred." "The judge ordered arrest warrants, not mass killings - yet there was mass killing." The October 28 operation was the deadliest ever in Brazil's recent history. The operation on October 28 targeted the Comando Vermelho, a gang that controls drug trafficking in a number of favelas (poor, densely-populated neighborhoods) woven into the city's hills. Rio de Janeiro state officials described it as a success. Claudio Castro, the state governor, said that the "only true victims" were the officers who were killed and all others were criminals. The raids highlighted a complex scenario for Lula. A leftist, Lula has tried to reconcile growing public support and international concerns about human rights violations. "The truth is, some people may view the operation's death toll as a success. Lula stated that he believed the state's response was disastrous. (Reporting and writing by Katy Daigle, Lisandra Paraguassu, Paul Simao; editing by Gabriel Araujo)
Maguire: A refresher on Russia’s commodities clout before Trump talks
The talks between U.S. president Donald Trump and Russian president Vladimir Putin could be the beginning of Russia's return to the world stage, and the return of its commodities after Moscow was recently isolated internationally.
Before its invasion of Ukraine, in 2022 Russia was the leading exporter and supplier of energy products into Europe. This included crude oil, natural gases, coal, aluminum, nickel, and steel. The sanctions imposed by the West on Moscow in 2022 have caused a major disruption of these commodity flows. Russia's gas exports through pipelines fell by half, and its oil shipments were diverted to new markets.
Here is a breakdown on where Russia stands in terms of production and exports for some of the most traded commodities around the world. This will give you an idea of potential market impact should relations with Russia resume to normal.
GAS CRUNCH
The fallout from Russia's invasion in Ukraine has had the greatest impact on natural gas.
Russia, the second largest gas exporter and producer in the world, has seen its outbound shipments severely cut after sanctions were imposed by Europe and the United States on Moscow in 2022.
Many European nations, including Germany, had secured the majority of their gas supply from Russia. However, they quickly reduced imports by pipeline in an effort to punish Moscow for starting war in the area.
The volume of Russian gas exported via pipeline fell by 38% from the previous year in 2022, and by 30% from 2022 as European buyers replaced those lost gas supplies with imported LNG and other fuels.
Data from the Energy Institute show that in 2024, Russia will export 108.2 billion cubic metres of pipelines, which is 46% less than 201.3 billion cubic metres exported in the year 2021.
In an effort to compensate for the revenue lost from gas pipelines, Russia increased exports of natural gas liquefied.
The Russian LNG export volume has risen by around 12% in the last 12 months and reached a record high of 44,3 billion cubic meters in 2024.
The lack of pipeline connections to other regions led to an increase in Russian gas inventories in 2022. This in turn led to increased gas consumption by industry and power companies and ongoing efforts to improve LNG export capability.
In 2023, the Russian industry cut production in response to a collapse in the export market. Since then, production has risen to 630 billion cubic meters in 2024.
CRUDE DIVERSIONS
Russians are the third largest crude oil producers and exporters in the world. This has had a major impact on the crude oil market.
The Russian crude oil market has also been hit by a decline in production and exports since 2022. However, exports are down more than the production due to increased domestic stocks.
Energy Institute data show that in 2024 the Russian crude oil production was estimated to be 10.75 million barrels per day, down by 4% from 11.2 million bpd produced in 2022.
In 2024, Russian oil exports totaled just over 7,000,000 bpd. This is a drop of 8% compared to the 7,6,000,000 bpd exported by 2022.
The Russian crude oil trade also saw a significant shift in its destinations as traders had to find new homes for their barrels.
Exporters had to find new markets for their oil, just as they did with gas. India, a country that has been a strong supporter of Russian oil traders in the past, is now stepping up its purchases as Europe reduces its oil imports.
Kpler's commodities intelligence firm shows that India's imports from Russia of crude oil have more than doubled between 2022 and the year 2024. They went from 321 millions barrels to 651,000,000 barrels.
Europe's imports from Russia of crude oil dropped 30% between 2022 and 2024. India became the largest market for Russian crude in 2013.
China, the second largest Russian crude oil purchaser, bought 460 millions barrels in 2024. This is an increase of 17% over 2022.
COAL, METALS & MUCH MORE
The war between Russia and Ukraine has also affected the coal markets, since Russia is the world's sixth largest coal producer. It is also the third largest coal exporter.
Due to a large fleet of coal-fired plants in Russia, the production of coal has remained largely constant since 2022. Local power companies have been using additional supplies previously exported.
The total coal production in Russia is expected to be down around 2.3% by 2024 compared to 2022, and exports are down almost 10%.
The competition between Indonesian coal and other producers has squeezed Russian coal off of several international markets. China and India, the two largest coal consumers, have also reduced their demand for coal imports.
The Russian Federation is also the world's leading exporter and producer of key metals such as aluminium, cobalt, nickel and palladium. These are in high demand across a wide range of industrial and technical applications.
Russia is a major producer of diamonds, industrial gases, wheat, barley and other crops. Any rapid resumption of trade between Moscow and international communities will have far-reaching consequences.
Any further deterioration of relations with Moscow after the upcoming meetings could keep Russia's abundant commodities out-of-reach for many buyers. This would result in tightening global markets.
These are the opinions of the columnist, an author for.
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(source: Reuters)