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The Olympics-Cortina Cable Car will not be ready for the Winter Games, a letter shows
The cable car that was supposed to transport spectators to Cortina's women's Olympic Alpine skiing event will not be completed in time. Games organizers have requested school closures in order to ease pressure on the Dolomite Resort's transportation system. The 'Apollonio Socrepes Lift' is one of the most controversial pieces of Olympic infrastructure that will be used for the Milano Cortina Winter Olympics 2026, which will be co-hosted from February 6-22 by Cortina and Italy's capital. The system was supposed to transport spectators directly from the centre of the town to the slopes. However, the work started behind schedule and residents expressed safety concerns over its location, which is prone to landslides. Simico, a state-backed agency responsible for the Olympics infrastructure, stated on Friday that despite mounting doubts about the project which is still unfinished one week before the opening of the Games, work was proceeding according to plan and would continue on the weekend. In a letter to the top representative of the Belluno Province, Andrea Francisi, Chief Games Operation Officer said: "Simico had informed the organizers the day before that the gondola would not be delivered in the time frame planned." Simico had no immediate comment. Simico announced on Friday that the technical work would be completed in the next week and safety checks would follow. The Milano Cortina organizing committee declined to make any comment. MOBILITY - ESSENTIAL Element Francisi, in a letter that has never been reported, described the lifts as an important element of Cortina's Olympic mobility plan, where it will host events such as curling, bobsleigh and luge. The letter stated that "the loss of this critical infrastructure just before the start of Olympic Operations creates significant challenges for the organisation, with major implications on flow management, security, and the overall system's ability to absorb the alternate mobility required." Organisers asked the local authorities in Cortina to close their schools on February 10, 12 and, if possible, February 11 to relieve pressure on Cortina's transport system during these critical days. CRITICAL DAYS The closing of schools during the most crucial days has been described as "indispensable". This is to ensure order and the transportation network can function. The Games' organisers have limited the number of tickets available for events in Cortina until it is clear whether the cable cars will be ready in time for the Games. The spokesperson of the Milano Cortina 2026 organizing committee said on Friday that they had released tickets according to the capacity guaranteed by the road transport. Cortina, located in the Dolomites and one of Italy's most popular winter resorts, hosted the 1956 Winter Olympics. However, it lacks a rail station, and the main road to the town is often slow during peak hours. The main mode of transport in a town with only 5,500 permanent inhabitants is still the car. Special measures will be taken to reduce congestion during the Olympics. Permits will only be issued to vehicles that are used by local residents, people who own second homes and those providing services for the Games. The Olympic venues will require fans to park their cars in designated areas, and then take shuttle buses. (Reporting and editing by Giselda Vangnoni, Keith Weir, and Elvira Pollina)
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US reports 9th driver killed in crash involving faulty replacement airbag
The U.S. 'National Highway Traffic Safety Administration' announced on Friday that a ninth driver has died since 2023 because of a dangerous Chinese airbag inflator. Auto safety agency reported that it had been made aware of 11 U.S. crashes involving death or serious injuries caused by ruptured replacement inflators manufactured in China by Jilin Province Dtiannuo Automotive Safety?System Co. Ltd., also known as DTN. These inflators were likely illegally imported to the United States since May 2023. The latest death occurred in Ohio, in a 2019 Chevrolet Malibu in December. The?NHTSA announced earlier this month that two other drivers died late last year in Texas, and Kansas after their original airbags were replaced by substandard airbags?after an accident. NHTSA issued an urgent alert earlier this month after stating that the DTN airbag inflators failed in crashes, "sending large metallic fragments into driver's chests, necks and faces". In October, NHTSA opened an investigation on DTN replacement inflators. NHTSA has teamed up with law enforcement agencies in order to investigate any illegal activities related to the importation of these inflators. Six replacement airbags in fatal crashes were installed in used Chevrolet Malibu cars and three in Hyundai sonata vehicles, but NHTSA could not confirm that the risk was limited to these models. Chevrolet maker General Motors did not comment on Friday. On its website, DTN states that the sale of inflators is prohibited in 'the United States. The?NHTSA stated that "whoever is bringing these into the country and installing then is putting American Families in danger." NHTSA advised that consumers who are buying used cars in which the airbag was deployed should inspect the airbag immediately to make sure it is an exact replacement of the original.
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Blue Origin focuses on moon landers instead of New Shepard rockets after shuttering the New Shepard program
Blue Origin, owned by billionaire Amazon.com founder Jeff Bezos, announced on Friday that it would be ceasing its space tourism rocket program for at least two years. The company will instead focus on developing a NASA moon lander. Blue Origin, the billionaire Amazon.com co-founder Jeff Bezos' company, announced that it would "pause New Shepard flight and shift resources in order to further accelerate the development of the company’s human lunar capability," according to a company statement. The reusable New Shepard, which stands 60 feet tall with its gumdrop-shaped capsule on top has launched dozens of paying customers and research experiments since 2021. Blue Origin CEO Dave Limp made the announcement to his employees in an email on Friday that began with "I have some important news to share" according to a copy of the e-mail seen by. Limp added that "New Shepherd has been a great success, and it will always be our first step", adding that "the decision to take a pause is one I do not take lightly." New Shepard, Blue Origin's debut rocket, was launched in 2015. It is designed to fly 70 miles into the air and land vertically, on a slab of concrete. This landing technique helped Blue Origin later develop New Glenn, a heavy-lift orbital rocket of the same class that competes with launchers from Elon Musk's SpaceX. It lands in an identical vertical manner after boosting payloads to orbit. In an email, Limp stated: "We will redirect our people and our resources towards further acceleration of human lunar capabilities including New Glenn." Staff at the company, who spoke anonymously, said that Blue Origin's decision to cancel New Shepard was a "surprise" for some employees. Blue Origin and NASA have a $3.6-billion contract that funds the development of Blue Moon. This lunar lander is expected to be used to transport astronauts from the United States to the surface of our moon later this decade. (Reporting and editing by David Gregorio; Joey Roulette)
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Sources say that SpaceX made about $8 billion profit in the last year before its IPO.
SpaceX made an $8 billion profit on $15 billion to 16 billion dollars in revenue last year. This is according to two people who are familiar with the company's financial results. The people who spoke to the media declined to be identified to discuss confidential conversations. SpaceX and Musk's artificial-intelligence company, xAI are also in 'talks about a merger, according to a report on Thursday. SpaceX has not responded to a comment request immediately. Profit was defined as earnings before taxes, depreciation, and amortization. This is a key measure for operating performance. Musk's "satellite internet system Starlink" is the primary revenue generator, accounting for 50% to 80% of total revenues, according to the people. SpaceX is now the largest satellite operator in the world, with more than 9 million broadband internet users. Starlink, Starshield and government contracts have generated revenue that has been used to fund the development of a next-generation Starship rocket, which Musk hopes to use to launch more powerful Starlinks. The company purchased wireless spectrum rights worth $19 billion from EchoStar last yea, as it expanded Starlink to the direct-to device market. Mobile?phones will be able to connect directly with Starlink Satellites without the use of a Starlink User Terminal. Musk is celebrating his 55th birthday on June 28. The company plans to float 'the largest IPO in history, near Musk's 55th. Musk anticipates that Starship will begin launching payloads into space in this year, after 11 test launches since 2023. The billionaire hopes to launch space-based AI centers using Starship, a risky but nascent endeavor tied to xAI's merger proposal.
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US FAA bans drones in 30 miles of Super Bowl LX stadium
The U.S. Federal Aviation Administration announced on Friday that drones would be banned at Levi's Stadium, Santa Clara in California. Additional restrictions will also be placed in downtown San Francisco in the days leading up to the National Football League's Championship Game. The Super Bowl is only one of a handful of events that the FBI protects against drones. Drones are prohibited from flying within a 30 mile radius of the stadium, up to 18,000 ft. during the Super Bowl. U.S. officials are increasingly concerned about the possibility that drones could be used to attack major events in the future, such as the 2026 World Cup. The FBI provides counter-drone security at the 'Super Bowl, one of only a few events. In 2024, it was used at only 0.05% out of 90,000 occasions. Both the FBI and FAA have personnel on full-time duty to identify drone activity. Drone operators who violate restricted airspace can face fines up to $75,000. They may also be subjected to drone confiscation and criminal charges. Homeland Security Department announced earlier this month that it would spend $115 million on counter-drone security measures in order to boost the security surrounding the World Cup and America’s 250th anniversary celebrations. Since the war in Ukraine, drone attacks have become more common. Recent drone incidents at both European and U.S. Airports are also causing concern. Federal Emergency Management Agency had announced earlier that it would be granting $250 million to 11 States hosting World Cup matches for the purchase of counter-drone technology. Kathy Hochul, the Governor of New York in the summer of 2016, called on Trump for federal assistance to defend against drone attacks. A number of incidents have involved sporting events. In June 2025, a man pleaded guilty after being charged with violating defence airspace for flying a drone above the American Football Conference Championship game in Baltimore. In September 2024, Boston man paid a $5,000 fine to forfeit his drone. He was charged with illegally flying a Drone near the finish line for the Boston Marathon in April 2024. This prompted law enforcement officers to land and seize the drone mid-air. (Reporting and editing by David Shepardson, Washington)
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Forecast demand on the largest US grid is expected to be close to winter records
The PJM Interconnection region, which covers one fifth of Americans, is experiencing an unusually cold and prolonged winter. PJM is responsible for the electricity flow in 13 Mid-Atlantic and Midwest states. Prices on the market impact the bills of approximately 67 million consumers. Grid operator predicted a demand of 141 gigawatts for Friday. The continued Arctic weather is likely to keep electricity usage high until February 2. PJM has managed to survive a'snowstorm' and 10 days of freezing temperatures without requiring any rolling blackouts. The grid operator stated that it continues to prepare for cold operating conditions with its transmission and generation owners. Generators and power transporters scrambled to keep the PJM System running as icy, windy conditions increased demand and limited the supply of natural 'gas fuel sources. On Friday, the expected generation outages were 15 gigawatts or 11% of all committed capacity. PJM data shows that generation outages topped 22.2 GW on Monday. According to its forecast, outages were expected for the weekend to range between 11 GW and 14 GW. PJM forecasted earlier this week that its all-time record for winter demand would be smashed by Friday. They predicted 148 GW in electricity consumption. PJM set its record for the winter season in January 2025, with 143.7 GW. PJM lowered its forecasts because temperatures in certain parts of the territory weren't as cold as expected. The U.S. Department of Energy also encouraged data centers to use backup generators in order to 'ease the strain on PJM resources. PJM has had its performance closely monitored, in part because it is a large concentration of data centres, whose energy consumption increases faster than the grid, contributing to higher electricity prices. Spot wholesale energy?prices were around $173 per MWh in PJM on Friday. This was far below the spikes earlier in this week, which reached $3,000 per MWh. PJM, the electric grids in New York and New England and PJM themselves have all had to deal with congested high voltage lines across their respective territories. This week, temperatures hovering around 0 degrees Fahrenheit have led to power line overloads due to an increase in electricity demand. The cold weather has also reduced the capacity of power stations in PJM territory. (Reporting by Tim McLaughlin, Laila Kearney and David Gregorio; Editing Emelia Sithole Matarise)
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Azul, a Brazilian company, has raised $1.37 billion through a five-year bond issue
Brazilian airline 'Azul' secured $1.37billion in a bond issuance, the company said in a filing on Friday. This is a crucial step towards exiting Chapter 11 bankruptcy proceedings. The firm stated that the coupon for the secured notes due in 2031 was set at 9,875%. It added that the issue is expected to be completed on February 6. The transaction exceeded the $1.21 billion that was initially anticipated, with a demand of more than $9 billion. Two sources who are familiar with this matter also said that the yield on the issue was 10.125%. Azul announced last week that it will issue secured notes in order to provide exit funding in connection with its restructuring plans, which were approved by an American court in December. The carrier said it was aiming to repay its outstanding principal amount for its debtor in possession (DIP), and with any remaining money, support its restructuring, and improve its liquidity position. Azul filed Chapter 11 bankruptcy in New York on May 20, 2025. Its goal was to 'cut its debt and increase the resilience of their business against market challenges such as fluctuations in fuel prices or currency exchange rates. The airline expects to emerge from bankruptcy in February.
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Canada says that jet disputes can be resolved following the fall in Bombardier shares on Trump's threat
Canadian officials have said that they are working to resolve the dispute with the?U.S. After President Donald Trump threatened to decertify private jets and impose tariffs on Canada made aircraft,?shares? of Bombardier fell 5% at midday trading. Trump said that sanctions would be applied unless Canada's transport regulator approved the latest business jets produced by U.S. competitor Gulfstream. A White House official said that Trump did not suggest decertifying Canadian planes in use, but his warning of Thursday night sparked confusion and alarm for airline workers, aviation analysts and aerospace workers as well as buyers and owners private jets. Melanie Joly, Canadian Industry Minister, told Canadian broadcaster CBC that the country's Transport minister is in touch with U.S. officials. Joly stated, "We think that this problem can be solved." The certification process has been well underway, and the certification requirements were very recent. BROADER TENSIONS This dispute is part of a larger conflict between neighboring countries, after Canadian Prime Minister Mark Carney last week, citing U.S. Trade Policy, called on nations to accept that the rules-based world order?that Washington once championed, was over. A source with knowledge of the situation said that he thought Trump's threats had to do with these tensions and not the loss of business for Gulfstream in Canada's small private aviation market. Officials in the industry said that any delays by Canada in certifying Gulfstream’s flagship G700 and G800 jets for large cabins would not be a barrier to sales. Ehsan.Monfared, a Toronto aviation attorney at YYZ Law, said: "I've not seen any issue that would deter?purchasing behaviour." He explained that a Canadian who wants to purchase a Gulfstream aircraft could place it in an American non-citizens trust and register it there while waiting for certification from Transport Canada. Monfared stated that he didn't believe the regulator would punish U.S. aircraft. Gulfstream Savannah, a General Dynamics division, and its parent company declined to comment. Transport Canada has not responded to a comment request. Aircraft and aerospace components have largely avoided the brunt of Trump’s U.S. led trade war. Canadian-made planes, which comply with the USMCA agreement, continue to be exported south?of the border. Trump announced Thursday night that he would "decertify their Bombardier Global Expresses and all Aircraft Made in Canada" until Gulfstream planes are certified. In a Truth Social post, Trump stated that if the situation was not corrected immediately, he would charge Canada a tariff of 50% on all aircraft imported into the United States of America. If this threat is carried out, it would have a dramatic impact on U.S. carriers such as American Airlines and Delta Air Lines, who rely heavily on Canadian-made aircrafts for their regional services. This confusion also spread to buyers and operators in the United States - the largest market for business aviation in the world. Amanda Applegate of Soar Aviation Law, an American specialist in business aviation laws, stated on Friday that the post had prompted questions from clients who owned, or wanted to buy, Bombardier aircraft. POLITICAL WEAPON Decertifying aircraft is dangerous and can lead to job losses. Bombardier employs 3,000 people in the U.S. The IAM stated that "Aircraft certification is not meant to be used as a weapon of political or economic influence, but to ensure safety." Cirium, a data provider, has reported that there are 150 Global Express planes registered in the U.S. and operated by 115 operators. There are also 5,425 different types of aircraft made in Canada registered in the U.S.
Trafigura wins $600 Million Nickel Fraud lawsuit against Gupta
Trafigura has won its London case against Indian businessman Prateek?Gupta regarding fake nickel cargoes on Friday. The High Court of London ruled in favor of the commodities 'trader.
Trafigura, a Geneva-based company, claimed that Gupta and his companies were the masterminds of a fraudulent Ponzi scheme??in which they agreed to deliver high-quality nickel 99.8% but instead delivered low-value materials or even worthless ones.
Gupta acknowledged he didn't deliver high-grade Nickel cargoes, but claims Trafigura staff designed the scheme. Former Trafigura head nickel trader Sokratis Oikonomou had denied this in his testimony given in November.
Judge Pushpinder Saini ruled Trafigura had been induced into contracting "by false and fraudulent representations" by Gupta?and his firms.
The judge said that Trafigura's ex-employees, including Oikonomou were "totally innocent" of any wrongdoing.
Trafigura's spokesperson said that the ruling was "comprehensively in Trafigura's favor and acknowledges the systematic fraud committed by Mr Gupta, and the corporate defendants".
The spokesperson said, "We are continuing to pursue Mr Gupta's recovery."
An attorney who represented Gupta didn't immediately respond to our request for comment. The court records show that the law firm who represented Gupta during his trial has no longer represented him.
No real defence
Trafigura received its first complaints in November 2022 about the cargoes that it sold. The trial concluded in December.
Trafigura carried out additional inspections and?booked a $590-million charge. It then sued Gupta's companies in February 2023, for what they called "systematic fraud".
Trafigura claimed during the trial that Gupta was a fraudster with a long history and accused him to siphon off funds from his struggling businesses.
Gupta said Trafigura had devised a "complex merry go round of transactions" that appeared to boost its position in nickel trading. He gave his evidence remotely from Dubai. His lawyers claimed that the scheme involved more than 500 trades worth $3.3 billion.
Trafigura's attorneys said that this was "simply an effort to explain the admitted fraudulent and described Gupta’s evidence as "implausible and inconsistent... and plainly unbelievable".
Saini stated in his decision that Mr Gupta "decided to 'go on the attack' and invent the story of the agreement" because he had no defence against the fraud claim. (Reporting and editing by William James and Elaine Hardcastle; reporting by Sam Tobin)
(source: Reuters)