Latest News
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US Court of appeals to review airline fee decision
On Thursday, a federal appeals court said that it would reconsider its recent ruling that the U.S. Department of Transportation was authorized to require airlines fully disclose all fees upfront when customers book flights. In a short order, the Fifth U.S. The 17 judges of the New Orleans Circuit Court of Appeals will review a decision made by a three judge panel on January 28, "en bloc". Several major airlines have challenged a rule that was issued to protect consumers in April 2024, during the Biden Administration. The rule required ticket agents and airlines to disclose "ancillary charges" like baggage fees during the booking process. Alaska Airlines, American Airlines Delta Air Lines JetBlue United Airlines and three industry groups, including Airlines for America, objected to the rules, claiming that federal law did not give the Transportation Department any power to make such rules. The rule was put on hold by the appeals court in July 2024. In a January ruling, the court ruled that the Transportation Department has the authority to create fee disclosure rules that address the "unfair or misleading practices" of airlines. The agency was criticized for not allowing airlines to comment on the study that it used to evaluate the potential impact of the new fee rule. Instead of canceling the rule, the appeals court sent the case back to the Transportation Department. The airlines stated that adopting this rule would "upend how airlines interact with customers at great cost and without any demonstrated benefit." The Transportation Department opposed the rehearing stating that the appeals court had "properly used its discretion" by remanding this rule. The lawyers of the airline did not respond immediately to comments. Airlines for America refused to comment. Requests for comment were not immediately answered by the Transportation Department or the U.S. Department of Justice. The 5th Circuit is a conservative federal appellate court. It has not announced when it will hold oral arguments. Airlines for America et al v Department of Transportation is the case. Circuit Court of Appeals No. 24-60231. Reporting by Jonathan Stempel, New York; editing by Jamie Freed
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Bloomberg News reports that Boeing 777X will be delayed until 2027.
Bloomberg News, citing sources familiar with the situation, reported Thursday that Boeing's 777X aircraft will begin commercial flights in 2027, not next year. The report cited a source as saying that Deutsche Lufthansa AG is preparing to take a step back and will not include the 777X until 2027 in its fleet plan. Boeing did not respond immediately to a comment request. When the program launched in 2013, the company had expected to deliver its first 777X aircraft in 2026. This was already six years behind schedule. Boeing CEO Kelly Ortberg stated last month that Boeing was behind schedule with the certification of the jet. She said a "mountain" of work needed to be completed. He said, however, no new technical issues had been discovered. Boeing announced the plane in 2013 at the Dubai Airshow.
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NTSB and FAA will investigate crashes of two Amazon drones
Two U.S. agencies announced Thursday that they would investigate the collision between two Amazon Prime Air drones and the boom of an Arizona crane in Tolleson. Both the National Transportation Safety Board (NTSB) and Federal Aviation Administration (FAA) have said that they will both investigate the incident which occurred on Wednesday. Amazon announced in November 2024 that it would begin drone deliveries to the West Valley in Arizona's Phoenix Metro Area from its same-day location in Tolleson. It also said on Thursday that it had temporarily paused Prime Air drone operation in Arizona. Amazon's Terrence Clark, a spokesman for the company, said that the company had been made aware of the incident. "We are currently working with relevant authorities to conduct an investigation." Amazon has announced that customers living near Tolleson can buy an item weighing less than 5 pounds and have it delivered in under an hour by drone. Amazon started delivering prescription medication by drone in 2023 in College Station, Texas, in partnership with Amazon Pharmacy. The U.S. Transportation Department announced new rules in August to accelerate the deployment of drones outside the line of sight for operators. This is a crucial change to help commercial applications like package delivery. Sean Duffy, Transportation Secretary, said: "It will change the way people and goods move through our airspace... you might get an Amazon package or a Starbucks coffee by a drone." Amazon wants to deliver 500 million packages per year by drones by 2030. (Reporting and editing by David Shepardson)
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Premier: Alberta and Canada have 80% agreement on pipeline proposal
Premier Danielle Smith said on Thursday that Canada and Alberta were not far apart in terms of the terms of an agreement which would set the conditions for the construction in Alberta, in exchange for environmental commitments. on Wednesday The main oil producing province of Canada will take the lead in early planning for a new pipeline. Smith stated in an interview that "we're approximately 80% in accord on most aspects." The ball is in the court of (Canadian prime minister) Mark Carney now. The federal government didn't immediately respond to our request for comment. Smith stated that her government does not intend to build the pipeline directly from Alberta's oilsands up to the Northwest Coast of British Columbia. According to Smith, Canadian pipeline companies Enbridge and South Bow, as well as government-owned Trans Mountain, have agreed to offer advice and technical assistance to Alberta in developing its proposal. Smith is confident that if the Canadian government approves Alberta's pipeline project, a private company will step forward to build it. Greg Ebel, CEO of Enbridge, said in a speech delivered to an audience of businessmen on Thursday that Canada would have to lift its ban on oil tanks off the coasts of B.C. Before any pipeline company will commit to Alberta's proposal, it is important that they first listen to the coast. Ebel stated that "no company would build a pipe to nowhere". B.C. Premier David Eby stated on Wednesday that his province has been in support of the ban since its inception. He is adamant about the law remaining in place. South Bow and Trans Mountain are yet to comment on the proposal. Carney's government was reported to be in talks in September with Alberta and energy companies about removing a federal cap on emissions for Canada's oil & gas industry in exchange for reducing the carbon footprint of the province and industry in other ways. The federal government also made it clear that a pipeline proposal from Alberta would only be considered if the proposed Pathways project for carbon capture and storage was approved. Smith refused to reveal what additional commitments the federal Government may ask Alberta to make. Alberta's government stated that the proposed pipeline would be able to carry up 1 million barrels of oil per day. Canada reached record oil production levels in 2024, as completion of the Trans Mountain expansion pipeline boosted the ability of oil companies to deliver their product. Analysts have predicted that Trans Mountain would be full by 2027 or 2028, as Canada seeks to diversify its oil exports.
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US public power sector evaluates data center customer risks and rewards
Data centers are a major source of electricity for U.S. power utilities. Some requests exceed the energy consumption by their entire customer base, according to CEOs and investors from the non-profit sector. The data center power demands of Big Tech have created an opportunity for the long-stagnant US power industry to grow revenue and investment. But the record-breaking build-outs of energy-intensive servers warehouses come with new risks, according to market participants at the Large Public Power Council Financial Conference held in New York. Dan Sullivan, CEO of the Grand River Dam Authority in Oklahoma, said that "we're experiencing exponential growth." He said that there were about 2,000 Megawatts in demand, mainly from data centers. They wanted to connect to the roughly 2,000 Megawatt system of his utility. "They will scale as fast as they are allowed to or as quickly as their capabilities allow them." Kirk Hudson, the general manager of Chelan PUD in Washington, said that there is a demand for about 1,400 Megawatts, mostly from data centers, to be connected to their system. The utility averages around 200 Megawatts. Hudson, the Chelan PUD's spokesperson, said that there is significant hydropower surplus, but they are figuring out how to support data centres while maintaining low rates, assuring system reliability and preserving local authority. The data center market is a fast-moving one, and public power utilities that have contracts for 40 years with their municipal customers face a unique challenge in adapting. Data centers are becoming more and more prevalent. Some of them consume as much electricity as an average-sized U.S. town. This has raised concerns over power shortages or excessive construction. Public utilities can issue municipal bonds that are tax-exempt to finance infrastructure. They also explore how to structure data center agreements to avoid stranded cost - the risk associated with building capacity to serve customers who then leave. John Murphy, Director at PFM Financial Advisors, said that the demand from hyperscalers is unlike anything seen before in public power or utility markets. How these projects are funded will be the key to managing risks. OLD RULES, NEW ISSUES In general, public power groups cannot enter into long-term power contracts for data centers, which are commonly used in the power sector that is profit-driven, without compromising the tax status of the entire portfolio. This has led to public utilities issuing short-term contracts that can complicate infrastructure planning in the long term, according to industry executives. They are also seeking clarification from the U.S. Treasury on rules that govern private use contracts. Javier Fernandez is the CEO of Omaha Public Power District. He said, "These rules need to be updated." In order to protect my residential customers from price shock, I must have a contract that is long-term with these data centres. Jason Pollack is the executive director for government and institutional banks at Wells Fargo. He said that utilities also face uncertainty about costs and waiting times of equipment needed to build infrastructure. Reporting by Laila K. Kearney, New York. Editing by Ni. Williams
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UK Jews already facing rising antisemitism
The attack on the synagogue on Thursday in northern England sent a shiver down the spine of a Jewish community that is already experiencing a rise in antisemitic incidents. It prompted warnings to avoid gatherings in communal areas and keep doors closed. This was the latest attack on British Jews in response to Israel's military offensive against Gaza. Vicky, a woman who refused to give her name, said near the scene of the attack at the Manchester synagogue: "I am Jewish and I'm absolutely terrified." "I don't feel secure." ANTISEMITIC INCIDENTS ON THE RISE IN BRITAIN The number of antisemitic incidents reported in Britain last year was second highest ever. The Jewish charity that advises communities about security stated that the Hamas attacks and wars had contributed to thousands of incidents including violent attacks and threats. The attack took place in Manchester, in an area with a large Jewish population. A journalist on the scene said that two cars with Palestinian flags were seen driving past and that some men in balaclavas appeared hours after the attack. They could be heard saying "Jews" as they drove by. Simon Cassel, who was a Jewish student living near the synagogue and heard about the attack, said: "I don't understand how you can come to try and antagonize people, victims of it." The Community Security Trust, the charity that coordinates safety measures for Jewish institutions, has urged Jews to stay away from communal buildings or synagogues and keep their doors shut on Thursday. In the 2021 census, nearly 290 000 people were identified as Jewish. The British police announced that they will be increasing patrols in and around synagogues. "I'm clear: UK police is mobilizing." Laurence Taylor is the head of British counter-terrorism police. "Police forces are increasing patrols throughout the country at synagogues, Jewish sites and other places to provide reassurance for all affected communities." Increased funding to protect the Jewish Community The incident took place less than one week before the anniversary of Hamas' attack on Israel, which will take place two years from now, on Oct. 7, 2023. The Israeli Embassy in London described the incident as "abhorrent" and "deeply distressing". According to CST data, in Britain, antisemitic incidents were more than twice as many in 2024 compared to the same time period two years earlier. 201 incidents (or about 6%) of the 3,528 incidents reported involved assaults or other physical attacks. CST stated that about half of these incidents involved inciting speech regarding the Israel-Hamas Conflict, along with explicit expressions of antisemitic language, motivation or targetting. In February of last year, the government pledged 70 million pounds (94 million dollars) for a fund to provide security measures like security guards and CCTV systems. Last month, feces were reported to have been smeared on synagogues in Golders Green (a district of north London that has a large Jewish community). Dina, 46 years old, was at a Golders Green synagogue when the attack occurred. She said that after the incident, she would tell both her sons not to wear their Jewish caps, or kippots, in public areas like the London Underground and buses. She said, "I will tell them to remove any signs that are indicating."
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Colombian state oil company transports first crude imported via pipeline
Cenit Colombia, a subsidiary of Ecopetrol, has completed the first import of light crude oil through one of their pipelines. The company is repurposing infrastructure to offer new services. Cenit CEO Alexander Cadena said on Wednesday that the first shipment of 220,000 barges through a 16 inch pipeline, which was previously used for crude oil export, is on its way to Barrancabermeja, during a trip to Covenas maritime terminal, on Colombia's north Caribbean coast. Cadena stated that the shipment would serve as a test to help determine future volumes. He added, "We're open to ways we can use the existing infrastructure more efficiently." "Reusing existing infrastructure is the fastest and most efficient way to serve new customers and provide new services." Up until now, Colombia transported imported crude oil to its refineries using tanker trucks. Ecopetrol subsidiary companies have a 9 million barrel storage capacity at Covenas. This facility serves the state producer as well as private sector clients like BP, Frontera Energy Frontera Energy, Trafigura, and Hocol. Cadena stated that Cenit also studies the possibility of utilizing part of its network of 9,000 kilometers of oil and multipurpose pipes to transport other goods. He said, "We monitor the situation constantly. This includes the energy issue for the transition." "For instance, we are evaluating if our pipelines can transport hydrogen in future." Cano Limon - Covenas, a 773-kilometer oil pipeline capable of transporting up to 210,000 barrels per day of crude oil, has been the subject of numerous attacks that the military attributes both to dissidents and guerrillas who have broken away from a 2016 peace agreement. Cadena reported that the pipeline suffered 26 explosions between January and August. According to data from Colombia's Defense Ministry, there will be 32 pipeline explosions in the country by 2024. Reporting by Nelson Bocanegra from Covenas in Colombia; writing by Sarah Morland and editing by Matthew Lewis
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Three workers killed in an accident have caused the Simandou iron-ore project to be halted.
Winning Consortium Simandou, the project's co-developer, announced on Thursday that three foreign workers had died in an accident at a construction site in Guinea. The company said it has suspended its operations and conducted a safety review. The incident occurred at a WCS construction site in Kerouane Province, according to the Chinese-controlled firm. WCS and Rio Tinto are developing Simandou under the close supervision of the government, with monthly progress reports filed by both companies, according to a source. The mine hopes to reach a deadline of November for the first exports. The source said that missed production deadlines would result in financial penalties as the authorities rush to commission the project. The military-led Government did not respond immediately to a comment request. In March, it was reported that thirteen local workers have been killed in construction of the port in rural Guinea and the 670 km railway leading to mines since November 2023. Rio Tinto announced a second worker death in August. Simandou, a Chinese-led venture, is largely controlled by Chinese firms, including Baosteel, while 25% of production is held by Rio Tinto – the world’s largest iron ore mining company. WCS has said that it will support the families of victims and only resume operations when safety conditions have been fully ensured. (Reporting and editing by Clara Denina, Jan Harvey, and Maxwell Akalaare Adombila)
French and Benelux stocks-Factors to watch
Below are companyrelated news and stories from France and Benelux which could have an influence on the area's markets or specific stocks.
CARREFOUR:
Food retailer Carrefour Brasil has consented to offer 15 properties to a property fund for 725 million reais ($ 127.4 million), it said on Tuesday.
COVIVIO:
The French realty company published on Tuesday an boost in its profits group share at 509 million euros at end of September.
ECB/VILLEROY:
The European Reserve bank might undershoot its inflation target, particularly if growth remains slow, and the bank might then be at danger of acting too late in loosening up previous rate hikes, said French central bank chiefFrancois Villeroy de Galhau on Tuesday.
L'OREAL:
The French cosmetics company reported an increase in 3rd quarter sales on Tuesday mising expectations as low consumer confidence in China sapped need for charm items.
TIKEHAU CAPITAL:
The french asset management and investment company launched its outcomes for the third quarter of the year on Tuesday with a. 13% growth on assets under management (AuM) year-on-year,. verified its outlook for 2024.
VERALLIA:
The glass product packaging business published a nine-month earnings. down at 2,635.2 million euros, including it anticipated its 2024. adjusted EBITDA to be around very same level as in 2022.
VIVENDI:
The French media group reported a 4.5% increase in its. nine-month earnings on Tuesday, primarily driven by the growth of. its Lagardere and Canal+ services. Pan-European market information:. European Equities speed guide ... ... ... ... FTSE Eurotop 300 index ... ... ... ... ... ... DJ STOXX index ... ... ... ... ... ... ... ... Top 10 STOXX sectors ... ... ... ...... Top 10 EUROSTOXX sectors ... ... ...... Top 10 Eurotop 300 sectors ... ... ...... Leading 25 European pct gainers ... ... ... ... ... Leading 25 European pct losers ... ... ... ... ... Main stock markets:. Dow Jones ... ... ... Wall Street report ... Nikkei 225 ... ... ... Tokyo report ...... FTSE 100 ... ... ... London report ...... Xetra DAX ... ... ... Frankfurt products ... ... CAC-40 ... ...... Paris items ...... World Indices ... ... ... ... ... ...... Reuters study of world bourse outlook ... ... European Possession Allotment ... ... ... ... ... Reuters News at a look:. Top News ... ... ... Equities ... ... ... Main oil report ...... Main currency report ...
(source: Reuters)