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The US Senate unanimously approved military helicopter safety legislation
The U.S. Senate passed unanimously legislation?Wednesday that would toughen military helicopters safety rules, and rescind a clause?in the annual defense act?that critics claimed would have weakened aviation security. Republican Senate Commerce Committee chair Ted Cruz on Wednesday won unanimous consent to approve a revised version of legislation that would require aircraft operators by the end of 2031 to equip their fleets with an automatic dependent surveillance-broadcast system, also known as ADS-B. The bill is co-sponsored with Democratic Senator Maria Cantwell. It also increases oversight of commercial helicopter and jet traffic, as well as flight routes near airports. Cantwell stated that the act "ends an exemption for planes in the airspace to fly without a broadcasting signal, which includes the military. So no more flying in darkness." The bill still needs to be approved by Congress. Pentagon officials said they supported the legislation. The Army Black Hawk helicopter that crashed was not transmitting ADS-B at the time and was flying over the maximum altitude levels. Alarm has also been raised by other incidents. JetBlue's passenger plane bound for New York, from Curacao in the Caribbean, took evasive actions to avoid a midair collision with an U.S. Air Force Tanker near Venezuela. The tanker plane was not using transponders on a commercial airway. The Federal Aviation Administration banned the Army's helicopter flights around the Pentagon after a near-miss in May. The bill requires U.S. helicopters flying training missions to broadcast alerts for nearby commercial aircraft. However, it does not specify what type of alerts should be sent. The Defense Department may be able to waive this requirement after a risk assessment has been conducted and the?risks posed by commercial aircraft have been addressed. Jennifer Homendy, Chair of the National Transportation Safety Board (NTSB), has described the helicopter proposal in the defense bill as "an unacceptable threat to the flying public" and warned that she couldn't vouchsafe the safety of Washington?airspace should the defense provision take effect. The language of the defense bill is not acceptable to the families of those who died in the collision on January 29. In a statement, the families called for "real and enforceable visibility standards" for all military aircraft that operate near civilian traffic. Bryan Bedford, FAA Administrator, said on Tuesday that he would be responsible for the safety of airspace and traffic in the event the defense provision went into effect. He said that the FAA had not been consulted about the provision. Reporting by David Shepardson, Washington; Editing and review by Chris Reese & David Gregorio
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Brazil's Supreme Court affirms Indigenous land rights in violation of Congress
The majority of the Brazilian Supreme Court on Wednesday reaffirmed Indigenous land rights protections, limiting attempts by Congress in order to limit recognition?of reservation. This ruling is likely to ignite tensions between the top court and legislators. Six of Brazil's 10 Supreme Court Judges voted in favor of establishing Indigenous Land Rights as constitutional clauses that can never be removed by legislators, according to Deborah Duprat. She is a former federal prosecutor and has worked on Indigenous Rights issues for decades. She added, "It is an important message for Congress." Four Supreme Court Justices have yet to?give their opinion on the matter, but their votes do not block the majority's decision. Although the 1988 Brazilian constitution recognized Indigenous rights to ancestral territory, the process for demarcating these lands has taken decades. Indigenous advocates claim that hundreds of communities are still waiting for formal recognition. Many of them are entangled in violent disputes over land. A powerful farm lobby, backed by a conservative majority in Congress, has been increasing its resistance to Indigenous land claimants over the past few years. In 2023, lawmakers passed a bill to limit the protections of Indigenous lands whose communities could not prove that they were occupying them when the constitution came into effect. Proponents claim that the cutoff date will protect landowners against claims they didn't know when they bought their property. The Senate amended the constitution to align it with the law of 2023 as the Supreme Court was preparing to rule this month on the constitutionality of the law. This constitutional?amendment is expected to be passed by the lower house of Brazil’s Congress. Some Supreme Court justices have already argued, in their votes this week, that this section cannot be amended as it protects the fundamental rights. Justice Flavio Dino wrote that the legislative branch cannot suppress or reduce the rights of Indigenous peoples under any pretext. This would be a violation of the fundamental principles of democracy. (Reporting and editing by Gabriel Araujo and Brad Haynes; Paul Simao, Gabriel Araujo and Fernando Cardoso)
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Teamsters union re-opposes Union Pacific Norfork Southern Deal
Teamsters said that it opposed the merger of U.S. freight railways Union Pacific and?Southern on Wednesday. In a joint press release, union presidents representing 20,000 employees at both railroads stated that they will not support any?deal? that does not protect the lives and livelihoods of workers. Since its announcement, the proposed merger has been criticized by unions and other railroads. It aims to create the first coast-tocoast railroad in America and reduce delays and handoffs. Teamsters claimed that executives from both railroads had failed to protect jobs or address?other concerns. It's time that Union Pacific and Norfolk Southern get serious and do the right thing by their members. The Teamsters said that until they do so, it will do all in their power to stop this "harmful merger". In November, Union Pacific and Norfolk Southern's shareholders approved the $85 billion merger. Over 99% voted in favor. Surface Transportation Board is expected to receive applications from both railroads this week. In October, Senators John Hoeven, Amy Klobuchar, and other bipartisan senators urged the Surface Transportation Board to closely examine the proposed merger due to concerns over long-term competition. This included the impact on agricultural producers. BNSF Railway, owned by Berkshire Hathaway, has also expressed its'strong opposition to this merger,' urging shippers and other stakeholders, including labor, to express?their disapproval to the Surface Transportation Board. SMART-TD - the largest railroad union in the United States - backed the merger proposal after securing job protection guarantees for its members. This was a change of stance from its previous stance, which had been to oppose the deal due to concerns over job security, access infrastructure and competition. Union Pacific issued a statement saying that "every employee who had a unionized job at the time the merger took place will still have it." Norfolk Southern didn't immediately respond to an inquiry for comment. (Reporting and editing by Alan Barona in Bengaluru, Abhinav Paramar from Bengaluru)
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Austria's Raiffeisen names former executive Hoellerer as new CEO
Michael Hoellerer, the former Chief Financial officer of Raiffeisen Bank International, was announced as the new CEO for Austrian lender Raiffeisen Bank International on Wednesday. Hoellerer replaces Johann Strobl who will continue managing the business until then as CEO and will step down from the board of management at the end his mandate in February 2027, according to a bank statement. Strobl has been the CEO of RBI since March 2017. In October, RBI undertook It is reorganizing its board in order to sell off its Russian business to a local buyer, in the hopes that the Russian government will lift the block on the repatriation by the bank of billions of dollars in profits. The U.S.,?European Union and other countries are also pressuring it to reduce its Russian activities. The largest Western bank is?Russia. On Wednesday, it announced that Andreas Gschwenter will be given a three-year extension of his?mandate to serve as chief information officers from July 2026. RBI said ?Hoellerer, who served as the bank's ?CFO between 2020 and 2022 and is currently CEO of RBI's largest ?shareholder, RLB Niederoesterreich-Wien AG, will also take over responsibility for RBI's group-wide retail business from Strobl. (Reporting and writing by Alexandra Schwarz Goerlich in Vienna, Linda Pasquini from Gdansk, editing by Paul Simao).
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Sarajevo improves air quality following ranking as most polluted city
Sarajevo authorities issued a warning on air quality and imposed a?ban on some cars and trucks after it was ranked 'as 'the?world’s most polluted cities on the previous two evenings by Swiss monitoring firm IQAir. After several days of fog, smog and fog that blanketed Sarajevo's population of 350,000, the cantonal government of Sarajevo took action to improve the quality of air. The city banned trucks over 3.5 tonnes and cars or trucks that did not meet the standards of?the European Union and construction in open areas was prohibited. The city also prohibited public gatherings. Experts say that the major sources of pollution are around 40,000 households who use primarily firewood and coal for winter heating and transportation. Anes Podic, from the?environmental organization Eko Akcija said that only 500 households received gas stoves as a result of international aid. He added that there were 180,000 registered vehicles in Sarajevo. 'TEMPERATURE INVERSION' In a valley surrounded with mountains and hills, the city has suffered for years from a phenomenon called temperature inversion, which pushes pollutants and colder air from cars and fossil fuels nearer to the ground. It can last for days when mixed with fog. According to the World Bank, Bosnia has among the highest levels in Europe of fine particulate (PM2.5) pollutants, which are caused by the burning of solid fuels for home heating, and the transport sector. Enis Krecinic is an expert from the Hydro-Meteorological Institute of Bosnia’s autonomous Bosniak-Croat Federation. He said that over 100 days of the year, PM2.5 levels were exceeded. According to?data from the World Health Organization, Bosnia has the highest mortality rate in the world due to?air pollution. According to the World Bank, PM2.5 air pollution is responsible for 3,300 premature deaths each year and a loss of more than 8% in GDP. Aida Forto is a lung specialist who said that long-term air pollution exposure, especially fine particulates, can cause lung cancer. This is especially dangerous for pregnant women and children as well as the elderly.
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Airbus A320s subject to inspections by regulators following a fuselage defect
The European Safety Authorities issued preliminary instructions to airlines on Wednesday, requiring them to inspect the fuselage panels of dozens of A320 family jets. This was after Airbus slowed deliveries due to a production issue at a Spanish supplier. According to a proposed directive by the European Union Aviation Safety Agency, airlines are required to inspect the thicknesses of certain panels at the front of aircraft within six months. This can be done sooner if these panels have already been repaired. The inspection order covers 177 aircraft in service, plus another 451 planes that are still in various stages of production within Airbus. EASA stated that the inspections are designed to address "potentially dangerous conditions" on panels with a combination of the wrong thickness and a history previous repairs. Airbus had prepared its own technical instruction and provided airlines with a timeline for solving the problem. Sources in the industry said that some airlines were still reluctant to accept new deliveries until panels had been replaced. Others have demanded compensation or improved warranty terms. Airbus refused to comment on any commercial discussion. After the panel defect slowed deliveries in November, Airbus lowered its 2025 target for delivery by 4%. This is around 790 aircraft. According to industry sources, deliveries were 'below average' in the first half December but have increased in recent days. Airbus, which has a long history of increasing deliveries in the last days of the calendar year, refused to comment ahead of the full-year report due on January 12. (Reporting and editing by Kirsten Doovan; Tim Hepher)
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UN chief Guterres urges maximum restraint in Yemen after separatist advance
The United Nations Secretary General Antonio Guterres urged all parties in Yemen on Wednesday to exercise maximum restraint following an advance by southern separatists, which risks rekindling the 10-year-old Civil War?after a long lull. He said that the operating conditions in areas controlled by the Iran-aligned Houthi movements - Yemen's capital Sanaa, and the densely populated north - had also become unsustainable. The separatist Southern Transitional Council (STC), backed by the United Arab Emirates in the past, claims to have taken control of the eastern provinces Hadhramaut?Mahra, and now has a firm grip on all provinces within the former state of?South Yemen. The STC is an important member of the coalition that fights alongside the internationally recognized government against the Houthi movement. Guterres said: "I urge everyone to show maximum restraint and de-escalate tensions. Then, we can resolve our differences through dialogue." "This includes regional stakeholder, whose positive engagement and coordination to support UN mediation efforts is essential for ensuring our collective security interests." Guterres said. Guterres has just returned from Saudi Arabia and Oman and condemned the Houthis for continuing to arbitrarily detain 59 U.N.?staff. He called for their unconditional and immediate release. "In recent weeks, Houthi authorities de facto referred three of my colleagues to a special criminal court. This referral should be revoked. The charges were brought 'in connection with their performance of official duties at the United Nations. He said that these charges should be dropped. The United Nations has consistently rejected Houthi allegations that U.N. personnel or U.N. operations were involved in spying. Guterres stated that "we must be allowed to do our work without interference." "Despite the challenges, we are committed to providing lifesaving support to millions in Yemen." He said that nearly two thirds of Yemen's population, or 19.5 million people, need humanitarian aid.
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Data shows that the largest port in Venezuela is where tankers depart with Venezuelan oil products.
According to internal documents and ship tracking data from PDVSA, at least 'two' tankers containing Venezuelan methanol - and petroleum -coke - left the OPEC nation's largest port on Wednesday. Since the United States first imposed sanctions against Venezuela in 2019, it has not targeted oil byproducts and petrochemicals exports. Since the United States first imposed energy sanctions on Venezuela in 2019, it has not targeted exports of oil byproducts or petrochemicals. After a cyberattack this week that affected PDVSA's central administrative systems, the cargoes are being shipped. (Reporting and editing by Julia Symmes Cobb; Marianna Pararaga)
US rail companies are seeing a slight increase in pricing and volume despite the slowdown in coal demand.
The second quarter earnings of US railroad companies are expected to be impacted by a slowdown in coal demand due to a combination of higher intermodal and vehicle shipping volumes, as well as higher prices.
Analysts said that there has been a sequential increase in carloads for the industry, led by intermodal shipments (which involve shipping goods using two or more modes) and automotive shipments. This is despite a general decline in freight since 2022.
Matthew Young, Morningstar analyst, said that "international intermodal seems to be benefiting by strong import trends. This is partly due to an increase in retailer restocking."
The impact of low rates on the truckload industry may still have an effect on intermodal revenues.
Analysts said that strong pricing would be good for rail companies in general.
Daniel Imbro, Stephens analyst, said: "We think core pricing has held relatively well and expect price increases to contribute for growth in this quarter."
Analysts said that the slowing demand for coal, due to global decarbonization, is a drag. This was likely made worse by a temporary disruption in exports caused by the collapse of the Baltimore Bridge.
They added that while metallurgical export volumes are expected to remain similar to the previous year, thermal coal could see a drop from year to year.
Union Pacific, Norfolk Southern and CSX are all scheduled to release their earnings reports on July 25.
THE FUNDAMENTALS
According to LSEG data, analysts expect Union Pacific to increase its quarterly profit by 7.1%, to $2.72 per common share. Revenue is expected to grow 1.8%, to $6.07billion, from a year earlier.
* Norfolk Southern's per-share profit is expected to fall by 2% to $2.89. Revenues are projected to rise 1.9%, to $3.04 billion from last year.
Analysts predict that CSX will see its profit fall by 2%, to $0.48 a share. Revenues are expected to drop 0.1% from last year to $3.69 bln.
(source: Reuters)