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Security firm reports that a tanker with a Cameroon flag issued a distress call to Ahwar in Yemen.
Ambrey, a British maritime security company, said that a tanker flying the flag of Cameroon issued a distress signal on Saturday following an explosion aboard as it passed around 60 nautical miles south-southeast of Ahwar in Yemen. The cause of explosion is unclear. Ambrey confirmed that it had received radio communications from the crew indicating their intention to abandon ship. A search and rescue effort was in progress. Ambrey said that the vessel was traveling from Oman's Sohar Port, to Djibouti. The tanker is not thought to have been linked to the Houthis, Yemen's Iran aligned militia. Since 2023 they have attacked numerous vessels in the Red Sea, targeting vessels they believe are linked to Israel as a show of solidarity with Palestinians in response to Israel's Gaza war. The attacks disrupted the flow of trade through the Red Sea, the Suez Canal and one of the busiest shipping routes in the world. Reporting by Enas Al Gebaly and Muhammad Al Gebaly, Editing by Jan Harvey & Barbara Lewis
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Sky News reports that Heathrow is considering WPP boss Jansen to be chairman.
Sky News reported that Philip Jansen, former CEO of BT Group and now chairman of marketing services group WPP is in advanced discussions with Heathrow’s board of directors and shareholders about becoming the chairman of the airport. The report cited sources to say that Jansen was the clear frontrunner of the shortlisted candidates. An announcement could be made within weeks, if discussions are successful. Could not verify the report immediately. Heathrow Airport didn't immediately respond to an inquiry for comment. Sky News reported in July that the British aviation hub had been working with headhunter Russell Reynolds Associates on recruiting a successor for Paul Deighton who assumed the position in 2016. Deighton’s term as chairman would have ended on April 30th, 2025 after nine years. Due to recent board changes, and the relatively new appointments of leadership, Deighton was asked to extend his tenure. Deighton stated in the annual report of the company that "I have... accepted to extend my role for a limited time as Chair to ensure continuity and security on the HAHL Board throughout this period transition". Sky News reported that Jansen’s experience as CEO of BT Group – a regulated company – from early 2019 until the end of 2024 was a key factor in his selection as he preferred candidate. According to his WPP profile, the executive began his career with Procter & Gamble and has held leadership positions at Sodexo Group and Telewest. He also worked at MyTravel, Travis Perkins and Sodexo Group. Rhea rose Abraham, Bengaluru reporter; Jan Harvey, editor
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China Eastern Airlines resumes flights as China and India restore air connections
China Eastern Airlines, a state-owned airline, will resume Shanghai to Delhi flights on November 9, according to the website of the airline. This comes as China and India resume their direct air links after a five year diplomatic freeze. According to the airline's ticketing platform, flights will be operated three times per week, on Wednesdays. Saturdays and Sundays. China Eastern Airlines didn't immediately respond to a request for comment sent via email. The Indian Foreign Ministry announced earlier this month the resumption of commercial flights between India and its neighbours after a 5-year-long freeze. The announcement came after Indian Prime Minister Narendra Modi visited China for the first time in seven years to attend a regional security summit of the Shanghai Cooperation Organisation. Both sides discussed how to improve their trade relations, and Modi expressed concern about India's growing bilateral trade deficit. The Indian and Chinese foreign ministers did not respond immediately to requests for comments on the Shanghai-Delhi flight. IndiGo, India's largest airline, announced previously that it would begin daily non-stop flight between Kolkata and Guangzhou. Guangzhou Baiyun International Airport, a state-backed airport, said that when IndiGo announced its plans to expand direct flights between Guangzhou (China) and Delhi (India), it would encourage airlines like IndiGo to offer more routes. After deadly clashes on their Himalayan border, the two countries suspended direct flights in 2020. This led to a long-lasting military standoff. (Reporting and editing by Tom Hogue; Amy Lv and Colleen howe)
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Ship tracking data shows Sinopec diverts supertanker away from US-sanctioned ports
According to Chinese consultants and ship tracking data, the latest U.S. sanction on a major Chinese crude terminal has forced Sinopec to divert one supertanker from its route and to ask certain plants to reduce crude processing rates. LSEG data revealed that a supertanker transporting oil to the Chinese Port of Rizhao, in Shandong Province, changed its destination at the weekend after U.S. sanctions were imposed on Friday on an import terminal located there. JLC Consultancy estimated that Sinopec’s October runs could drop by 3.36% compared to earlier plans, and may be around 5.16 million barrels a day. Sinopec has not responded to comments immediately. LSEG data revealed that the supertanker New Vista chartered by Sinopec’s trading arm Unipec, originally scheduled to discharge in Rizhao, on Sunday, has changed its destination to Ningbo or Zhoushan, for arrival on 15 October. New Vista is capable of carrying 2 million barrels and currently carries Abu Dhabi's Upper Zakum crude. The U.S. Treasury listed the Rizhao Shihua crude oil terminal, which is half owned by a Sinopec logistic unit, in a series of sanctions, including ships that transport Iranian crude and liquefied petrol gas. The U.S. announced that the terminal in Lanshan, in Shandong Province, a major Chinese oil refinery hub, had been sanctioned because it received Iranian oil aboard vessels sanctioned by the U.S. According to analysts and industry executives, one-fifth (or a fifth) of Sinopec’s crude oil imports passes through the Rizhao Terminal.
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Aeromexico, backed by Apollo, seeks a valuation of up to $2.9 Billion in US IPO
Grupo Aeromexico announced on Friday that it was aiming for a valuation up to $2.92billion in its U.S. Initial Public Offering, as the Mexican airline looks to go back public after more than two years. Aeromexico, based in Mexico City, and its existing shareholders seek up to $234.5 millions by offering 11,7 million American depositary shares priced between $18 and 20 each. After a successful bankruptcy reorganization, mature companies are often looking to return to the public markets. Aeromexico filed Chapter 11 bankruptcy in 2020, with $2 billion of debt. The pandemic had a major impact on travel demand. Aeromexico, which emerged from bankruptcy in 2022, is now backed by the alternative asset manager Apollo Global as well as U.S. carrier Delta. PAR Investment Partners, a private investment fund, intends to buy $25 million worth of Aeromexico stock in a simultaneous private placement. The price per share will be 95% of the IPO. Aeromexico was one of the first names to be used in the United States. IPO pipeline Publicly File paperwork In May 2024, LATAM Airlines, based in Chile Return to the Homepage After a $456,000,000 IPO, the New York Stock Exchange will be open in July 2024. PUBLIC MARKETS RETURN The legacy airline, founded in 1934 under the name Aeronaves was nationalized in 1959 by the Mexican Government. In 1971, it began operating under the name "Aeromexico". Aeromexico had been owned by the state for many decades, until 2007 when an investor group led by Citigroup bought it for $250 million. Bidding war Saba Family - The full-service carrier first went public in 2011, and traded on the Mexican Stock Exchange until 2022. Delisted As part of its bankruptcy restructuring. Aeromexico is a low-cost carrier that competes with Volaris, a low-cost airline focused on leisure and business passengers. Barclays, Morgan Stanley J.P. Morgan, and Evercore are all joint book-running managers. Aeromexico intends to list at the New York Stock Exchange using the symbol "AERO." (Reporting and editing by Anuj T. in Bengaluru, Arasu Kanagi Basil; Shrey Biswas).
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FAA: Boeing can increase 737 MAX production up to 42 planes per monthly
Boeing and the Federal Aviation Administration announced on Friday that the Federal Aviation Administration has lifted the 38-plane-per-month limit in place since January 2024. The FAA set the record-breaking production cap after an Alaska Airlines 737 MAX 9 was involved in a mid-air incident that occurred in 2024. Four key bolts were missing. This announcement marks a major milestone for the U.S. aircraft manufacturer, which has been thrown into a safety emergency following a mid-air accident. The FAA announced on Friday that its safety inspectors had "conducted extensive review of Boeing's manufacturing lines to ensure this small increase in production rate will be done safely." A person with knowledge of the situation said that FAA Administrator Bryan Bedford spoke to Boeing CEO Kelly Ortberg Friday to confirm that the planemaker was able to increase the rate up to 42 aircraft. Boeing will begin production of planes as soon as possible, at the rate of 42 per monthly. Boeing expressed its appreciation for "the work done by our team, suppliers and the FAA in order to ensure that we are ready to increase production while safety and quality is at the forefront." David Shepardson, reporting;
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Trump Administration freezes an additional $11 billion infrastructure spending as part of the shutdown fight
Russell Vought, the White House Budget Director, said that due to the government shutdown the Trump Administration will freeze an additional $11 billion in infrastructure projects for Democratic states. Vought announced on social media that the U.S. Army Corps of Engineers would halt work on projects of "low priority" in cities like New York, San Francisco and Boston. He said that the projects may be cancelled in the future. The White House Office of Management and Budget stated that President Donald Trump wants to "reorient the federal government's priorities for Army Corps projects." The Trump administration already has frozen At least $28 billion for transportation and energy projects in Democratic-controlled cities and states, as the president pressures his opponents in Congress to end the shutdown, which began October 1. Trump also vowed that he would cut "Democrat Agencies", and he has sought to eliminate 4,100 jobs in the federal government as a way to hurt his political opponents. OMB reported that the Army Corps' projects include a waterfront in San Francisco, bridge extensions in Cape Cod (Massachusetts), and water and waste-water systems in New York City. New York's projects account for 7 billion dollars of the total. OMB also said that other affected projects include those in Illinois, Maryland and New Mexico as well as Massachusetts, New Jersey, Rhode Island, Massachusetts, New Hampshire and Delaware. These states all voted against Trump at the 2024 presidential elections. OMB stated that many of the projects are located in "sanctuary jurisdictions", which have been able to resist the Trump administration’s immigration crackdown. The Army Corps didn't immediately respond to our request for comment. Reporting by Christian Martinez, David Shepardson and Andy Sullivan; editing by Cynthia Osterman and Andy Sullivan
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Sources say that FiberCop, a company backed by KKR, has filed a complaint with the EU regarding alleged Italian aid to KKR's rival.
Three sources familiar with the matter have confirmed that KKR-backed FiberCop, a telecom network company, has filed a complaint at the European Commission alleging Italy gave state aid to Open Fiber, in violation of EU competition laws. The complaint, in which it is alleged that Italy has altered the competition in the ultra-broadband sector, escalates a dispute between KKR, the U.S. Fund, and the Rome Government, Fibercop's co-shareholder. FiberCop sent an email to and confirmed that it had lodged a complaint at the EU. However, they did not provide any details. "FiberCop has brought to the European Commission's attention a number circumstances that it feels warrant scrutiny from the perspective of competition." All three companies, KKR, Open Fiber and the Italian Treasury declined to make any comments. The EU Commission didn't immediately respond to an inquiry for comment. KKR has a 37.5% stake in FiberCop which is Italy's largest telecom network. The government owns a 16.1% stake. The complaint filed by FiberCop on Monday targets a number of measures Italy took in 2024-2025 with regards to Open Fiber. Sources said that FiberCop's complaint estimated the value of the measures at up to 4.5 Billion Euros ($5.3 Billion). People said that the measures included direct grants, the extension and strengthening of concessions already in place, guarantees by the state on credit lines, as well as the suspension or reduction of fines for delays with state-sponsored fiber rollout plans. FiberCop claimed that the measures transferred economic and financial risk from Open Fiber to the state, in violation of EU competition laws. The EU was not informed about the measures. KKR is at odds with Italy over the future of FiberCop. FiberCop was sold to a KKR led consortium last year in a deal worth 19 billion euros. Sources told us earlier this week that the U.S. Fund is opposing Italy's efforts to combine FiberCop and Open Fiber, a smaller competitor controlled by CDP, a state investor, and Macquarie Australia, whose fund is Australian. CDP declined comment. Macquarie didn't immediately respond to an inquiry for comment. As part of the network-spin-off deal, a tie-up between FiberCop & Open Fiber could trigger an extra payment up to $2.55 billion from KKR. Open Fiber, the Italian company that was tasked almost a decade earlier with laying fibre optic cables throughout Italy, reported a loss of 364 million euros last year. It expects to reach a positive cashflow by 2028.
Soccer-Turkish player's conservative 'wolf' goal celebration sparks furore
European soccer's governing body UEFA opened an investigation on Wednesday into a wolf salute goal celebration by Turkey centre back Merih Demiral which Germany condemned as racist due to its far best associations, prompting a rebuke from Ankara.
The 26-year-old protector imitated the shape of a wolf's head with his fingers after his 2nd goal in Turkey's sensational 2-1 win over Austria in the last-16 of Euro 2024.
The gesture is linked to the Grey Wolves, an ultra-nationalist youth branch of Turkey's Nationalist Movement Party (MHP), an ally of President Tayyip Erdogan's ruling AK Celebration.
The signs of Turkish conservative extremists have no place in our arenas, Germany's Interior Minister Nancy Faeser stated in a post on X. Using the European Football Championship as a platform for racism is totally unacceptable.
Developed in the 1960s, the Grey Wolves were associated with political violence in between leftists and nationalists that eliminated some 5,000 people around the time of a 1980 coup.
The group is disallowed in France and its sign is prohibited in Austria. The Grey Wolves are also under security in Germany, Faeser included.
UEFA stated it would look into the alleged inappropriate behaviour of Demiral.
It has actually been punishing misconduct during the tournament, banning Albania's Mirlind Daku for two video games after he led fans in offending chants, and examining England's Jude Bellingham for a crotch-grabbing gesture.
Turkey's foreign ministry said UEFA's probe was inappropriate which German authorities' approach to Demiral involved xenophobia.
We condemn the politically-motivated reactions to making use of a historical and cultural sign, in a manner that does not target anybody, throughout the celebrations of pleasure at a sporting event, it said.
The ministry also summoned Germany's ambassador to Ankara over the conflict, a Turkish diplomatic source stated.
'HAPPY TO BE TURKISH'
Elated by his man-of-the-match efficiency, Demiral informed press reporters he had planned the gesture.
I had a celebration in mind about being Turkish. I did that (gesture). I am really proud to be a Turk, I felt that to my bones after scoring the objective, that is why I wanted to do something like that, he said after the match.
I am very pleased to have actually done that, all the fans take pride in us. I saw individuals in the audience doing that. I wanted to do it after seeing them.
The German Israeli Society, which explained the Grey Wolves as a threat to Jews in addition to Armenians, Greeks and Kurds, gotten in touch with German authorities to prohibit the group.
The ideological supremacy of these fascist nationalists jeopardises public security, its president Volker Beck stated in a statement.
In Turkey, the ruling AK celebration and its MHP ally both protected Demiral and said the reaction ran out percentage.
AK celebration representative Omer Celik said those worried about racism and fascism need to concentrate on recent elections around the continent where the far ideal has been on the rise.
The Grey Wolf sign made by our kid Merih after hitting the net is the Turkish nation's message to the world, and UEFA's launch of an examination in this context is both ill-intentioned and part of a chain of provocations that have actually gained dangerous ground in current days, added MHP leader Devlet Bahceli.
The incident coincided with the start of a trial in Turkey of 22 individuals over the murder of former Grey Wolves leader Sinan Ates, who was gunned down in Ankara in late 2022.
(source: Reuters)