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New Fortress Energy announces a larger second-quarter loss
New Fortress Energy, a U.S. LNG company, posted a larger loss for the second quarter on Friday as lower contributions from asset sales affected its performance. The New York-based firm reported a net profit of $556.8 millions, or $2.02 per common share, for the three months ending June 30. This compares to a $86.9million loss, or 44c per share, one year ago. NFE's revenue total fell from $428.8 million to $301.7 in the second quarter. The company's core adjusted earnings dropped to a loss $3.7 million, from a profit $120.2 million one year ago. New Fortress Energy's earnings were negatively affected by the sale of its Jamaican assets to Excelerate Energy in May. The company was able to reduce its debt and lower its earnings. The company stated that it intended to use the proceeds from the transaction to repay $270 million of their loan. The company started last year. Explore the world with us After deferring dividends for shareholders to conserve cash, and working out an agreement with bondholders in order to delay maturities, you have options such as bringing strategic partners into the picture or selling assets.
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Putin calls on Russia's aerospace sector to develop rocket engines
On Friday, President Vladimir Putin called on leaders of the aerospace industry to continue their efforts to develop booster engines for space launch vehicle and to build on Russia’s long-standing reputation as an innovator in space technology. Putin, who spent the last week in China, and the Russian port of Vladivostok in the far east, flew south to Samara where he met with industry experts and toured Kuznetsov Design Bureau aircraft engine manufacturing facility. According to Russian news agencies, Putin stated that Russia was a leader in the development and growth of the aerospace sector. The agencies reported that Putin said late Friday, "It's important to continually renew production capacity when it comes to engines for booster rockets." "And we must do so not only to meet our current and future needs, but also to move actively on the world markets and be successful rivals." Putin praised Russia's achievements in producing innovative engines, especially in the energy sector. This was despite Western sanctions imposed in connection with Moscow's invasion of Ukraine in 2022. Putin was quoted saying, "Under the restrictions of sanctions, we were able to develop a number of innovative energy engines in a very short time." These are actively being used, even in the gas transport infrastructure. Putin said it was "a very important theme", especially for the development of Russian exports. Power of Siberia 2, the pipeline planned to bring Russian gas into China, is currently being discussed in China. Putin said that the Power of Siberia 2 Pipeline was beneficial for both sides. Russia proposed this route many years ago. However, the plan is now more urgent as Russia looks to Beijing to replace Europe as the main customer, as Europe has been trying to reduce Russian supplies of energy since the Russian invasion. Putin also highlighted the development PD-26 engine, saying that it would enable the development and production of wide-bodied passenger aircrafts as well as military transports. He was quoted saying, "The development and implementation of this project will not only modernise military transport aircraft but also open up the possibility of building a new wide-bodied civil aircraft." (Reporting and Editing by Leslie Adler).
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McConaughey is the star of 'The Lost Bus', a film that shows heroism during California's most deadly wildfire.
Matthew McConaughey, who has been away from the spotlight for several years, returned to the big-screen on Friday with the Toronto International Film Festival's world premiere of "The Lost Bus," a new documentary. The film is based on Lizzie Johnson’s book about the Camp Fire of 2018, the deadliest fire in California’s history, which claimed 85 lives. It gives a glimpse of the magnitude and intensity of this destructive fire. McConaughey is a struggling father and school bus driver who risks his own life to save 22 children. He races against the flames, which threaten their escape. Wildfires are still fresh in many viewers' minds. At least 30 people were killed in wildfires that raged through Southern California at the beginning of this year. Canada is currently experiencing its second worst ever wildfire season. McConaughey stated that the film examines the relationship between mankind and Mother Nature. McConaughey said that the message and reality of the film are in your face. America Ferrera, who was nominated for an Oscar ("Barbie," 2024) plays a teacher in a primary school fighting with him to survive. Ferrera stated, "To me, this story is about a journey of a person, about resilience, and about choices." McConaughey’s real-life son Levi and his mother Kay play the son and mother of his character. McConaughey has released two films this year. The first was the crime thriller, "The Rivals Of Amziah Kings." He had been relatively quiet for several years. He won the Academy Award for Best Actor for "Dallas Buyers Club", in 2014. The Lost Bus, directed by Paul Greengrass (best known for his 2006 documentary "United 93") will be released in selected theaters starting September 19. Apple TV+ will begin streaming the film on October 3. (Reporting and editing by Caroline Stauffer, David Gregorio, and Atsuko kitayama)
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Serbian police used teargas to disperse protesters against the government
Serbian police used tear gas and stun grenades on a campus of a university in Novi Sad, to disperse demonstrators who were demanding a snap election they hoped would remove president Aleksandar Vucic from power and his ruling Serbian Progressive Party. On Friday night, thousands of students gathered on the campus of the State University. They held banners that read "We don't need blockades; we just want elections" and "Students demand elections urgently." The crowd shouted, "Vucic Leave!" Police used teargas to disperse the crowd. Protesters also threw flares in the air. Vucic's SNS party and Serbians have been rattled by months of protests in Serbia, including the blockades at state universities. The protests were sparked last November when 16 people died after the roof of a renovated train station collapsed. The protests were mostly peaceful, until August 13, when clashes between police and civilians resulted in the injuries of dozens. The protesters are calling for early elections to remove Vucic from power and have accused the corruption of the Novi Sad train station disaster. Students, anti-corruption groups and opposition groups have accused Vucic of having ties with organized crime, using violent tactics against political opponents, and suppressing freedom of the media - accusations they deny. Nebojsa Krac, one of the protesters, said: "The solution to this problem is to hold elections." "We want to see peace and democracy prevail and that political institutions do their jobs." This will mean calling elections. The government will then change. Reporting by Fedja and Branko Grulovic; Writing by Ivana Skularac; Editing Alistair Bell
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US FAA extends Haitian capital flight restrictions to March 2026
Federal Aviation Administration announced on Friday that it would extend the ban on U.S. flight to Port-au-Prince, Haiti's capital city, through March 7 due to risks posed by armed groups for civil aviation. The FAA temporarily stopped all flights into Haiti in November but allowed flights to resume at six other airports around northern Haiti following the gunfire that hit three U.S. commercial aircraft. The restrictions were set to expire in one week. U.S. planes are allowed to fly over Port-au-Prince at a height of 10,000 feet (3,048 meters). Last year, the agency allowed American carriers to resume flights at six airports: Port-de-Paix (Cap-Haitien), Pignon (Jeremie), Antoine-Simon, and Jacmel. According to the FAA, on Friday, armed groups still control 90% of Port-au-Prince as well as the strategic routes and border zones immediately surrounding it. There has been at least one incident since March where Haitian groups have fired small arms at low-flying planes. Since last year, small arms have been used to fire on civilian aircrafts, helicopters, and airports, damaging multiple aircrafts and injuring an aircrew member. Reporting by David Shepardson, Editing by Chizu nomiyama
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Urals dimes steady in muted business
The differentials between Brent and Urals crude were not much changed on Friday. However, Russia's oil plans for September could be revised after a drone attack was carried out on the Rosneft oil refinery in Ryazan. Two industry sources said that Ryazan had suspended operations at the CDU-6, its main crude distillation unit due to an fire caused by a UAV attack. India's finance minister stated on Friday that it will continue to purchase Russian oil if it is economical. This was despite the Trump Administration's decision on Friday to impose high import tariffs on Indian products due in part to India's energy purchases from Moscow. Energy chief of the European Union said on Friday that the EU is committed to its plan to phase out Russian crude oil by 2028. He added that Washington had not pressed him to move the date. Rosneft Germany said that oil flows through the Druzhba pipe to Germany's PCK refining facility are expected to be back to normal by this weekend following repairs to the damage. PLATTS WINDOW On Friday, no bids or offers for Urals BTC, Azeri BTC Blend or CPC blend were made in the Platts Window. * On Friday, President Volodymyr Zelenskiy stated that Ukraine will continue to respond in response to Russian attacks against its energy facilities despite criticisms from Slovakia and Hungary who have suffered Russian oil disruptions. Mark Porter (Reporting)
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The US Army Inspector General is being forced to review a fatal helicopter crash by lawmakers
A House member said Friday that he wanted Congress to order the U.S. Army Inspector General to audit the January 29, 2015 collision between a U.S. Army helicopter and an American Airlines Regional Jet, which killed 67 people. Don Beyer, a representative of the House of Representatives, said that the Army Inspector General's Office has refused to open an inquiry into the incident in spite a request made by dozens bipartisan senators. Beyer will try to attach a requirement for an Army audit to the annual Pentagon funding bill. Ted Cruz, the chair of the Senate Commerce Committee, has proposed legislation that would require an Army audit into aviation safety practices as well as "systemic breakdowns" which may have contributed to what was the deadliest U.S. aircraft crash in over two decades. Beyer and Senator Mark Warner from Virginia raised congestion concerns at a forum held on Friday, near Ronald Reagan Washington National Airport. Near misses are common - thousands of them . The airport is home to the busiest single runway in the United States. Congress ordered in 2024 five new round-trip flights daily from Reagan, despite safety concerns raised by Virginia legislators. Beyer stated that the airport was designed to handle 14 million passengers per year, but we are currently handling 26 million. The Office of Inspector General of the U.S. Transportation Department opened a audit in August into the Federal Aviation Administration’s management of airspace, and the allowance of exemptions for the use of an important safety system by certain military aircraft. The FAA was criticized for not acting on near-miss reports before the January collision. The FAA banned the Army in May from helicopter flights near the Pentagon following a close call on May 1, which forced two civilian aircraft to abort their landings. Last month, Senator Maria Cantwell urged the Army Inspector General to "step up and launch" their own audit. (Reporting and editing by David Shepardson)
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Energy chief: EU will stick to its planned Russian oil withdrawal by 2028
Energy chief of the European Union said on Friday that the EU is committed to its plan to phase out Russian crude oil by 2028. He added that Washington had not pressed him to move this deadline forward. White House official: As U.S. president Donald Trump works to end Russia's conflict with Ukraine, Trump told European leaders to stop buying Russian crude oil on Thursday, but did not specify a specific date. Fuel revenues, as Russia's most lucrative exports have helped Moscow fund its war. The European Union is currently negotiating legal proposals that will phase out EU imports of Russian gas and oil by January 1, 2028. Energy Commissioner Dan Jorgensen is responsible for EU energy policy. He said he was not personally under pressure by the U.S. government to stop Russian oil purchases before the 2028 deadline. However, he would welcome U.S. support for the EU plan. "Putin has not only weaponised energy and blackmailed members states against us but we also indirectly finance Putin's War, which needs to stop. "If President Trump supports that, that's a very welcome support because that's our main goal," he said. Hungary and Slovakia import between 200,000-250,000 barrels of Russian oil per day, which is equivalent to about 3% of EU demand. EU gas purchases remain much larger. According to EU figures, Europe will purchase 13% of its natural gas from Russia in 2018, down from 45% prior to Russia's invasion of Ukraine. The White House official has asked for a comment from the Kremlin on Trump's remarks. India accuses the West of hypocrisy for imposing punitive tariffs against the United States because of its continued purchase of Russian oil. HUNGARY & SLOVAKIA OPPOSE PHASE-OUT Hungary and Slovakia have continued to import Russian crude through the Druzhba Pipeline, along with Russian gas. They oppose the EU's phase out plan, claiming it will increase energy prices and lead to shortages. Robert Fico, the Slovak prime minister, said that after meeting Ukrainian president Volodymyr Zelenskiy on Friday he didn't want to comment about Trump but that reliable supplies are needed. He also noted that many European countries buy Russian gas and U.S. Liquefied Natural Gas. Jorgensen stated that he is in discussions with Hungary and Slovakia regarding their concerns, but that if necessary, EU countries can approve the phase-out plan without them. He refused to confirm whether Brussels would provide funding or legal assurances to try to win support from the two countries. Jorgensen stated that if there are domestic reasons that prevent some countries from supporting it, this does not require unanimity. The EU proposals were designed to be approved by a majority of members. EU diplomats said they expect energy ministers from member countries to approve the proposals at a meeting in a month. Jorgensen and Chris Wright, the U.S. Energy Secretary, will meet in Brussels next Monday to discuss the EU's commitment to purchase $250 billion worth of U.S. supplies of energy per year as part of a U.S.-EU deal. Analysts say the pledge to buy energy is unrealistic, in part because the EU does not have much control over energy imported by its companies. Jorgensen stated that they would be discussing options on how the EU administration and the U.S. government can ensure that the deal is implemented. The Commission, for example, has stated that it could pool the demand of European companies in order to purchase more U.S. Gas. It's obvious that our role is facilitation. "The EU is not a trader of gas," Jorgensen stated. (Reporting and editing by Jan Strupczewski, Barbara Lewis and Kate Abnett)
Berlin is considering the purchase of Eurofighters and modernisation of Taurus Cruise Missiles
According to a document viewed by, the German government intends to seek approval from the parliament for 80 defence projects before the end of this year. These include the purchase of Eurofighter Jets and the modernisation the Taurus Cruise Missile.
The document lists 81 projects in the defence sector that exceed the threshold of 25 millions euros (29 million dollars), above which any purchases require approval from Parliament's Budget Committee.
The former German Chancellor Olaf Scholz had previously stated that the Tranche 5 would consist of 20 Airbus-built Eurofighter jets.
On the list are also plans to modernise Taurus, the cruise missile system. This includes the creation of a production facility for the next generation Taurus NEO.
Boris Pistorius, the Minister of Defence, was reported to have been working on a new weapon system.
Advanced version
Buy 600 Taurus.
The German military has 600 units of the current model with a maximum range of 500 km (311 mi) that can be launched by fighter jets like the Tornado F-15 and F/A-18.
The weapon is built by MBDA, a European defence company. It's designed to destroy high value targets such as bunkers and ammunition dumps behind enemy lines, and airfields, bridges, and bridges.
The list also includes the purchase of Patriot and IRIS T SLM missile systems as well as Puma infantry combat vehicles, Boxer armored personnel carriers and Heron TP Drones, all manufactured in Israel.
Germany August
halted
Exports of weapons to Israel that could be used to expand Israel's operations in Gaza Strip.
The list does NOT specify how many systems you need to buy, their price or the manufacturer.
(source: Reuters)