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Boeing's Wisk Sale is unlikely to spark another divestment Round
Analysts said that Boeing's announcement that it was selling Wisk 'Aero this week is less of a sign 'of a wider breakup' than an attempt to "shed" a struggling non-core business which had become a distraction for the aerospace giant's efforts to turn around. Boeing CEO Kelly Ortberg had previously stated that he planned to sell non-essential components of the company, including its subsidiaries, in order to stabilize the balance sheet and focus more on its core business -- commercial aviation, defense and space. Since 2024 when the portfolio review was completed, only two major sales have taken place: Jeppesen, a digital aviation services provider, for $10,6 billion in 2025, and Monday's purchase of Wisk, drone manufacturer Insitu, and airspace-services company SkyGrid, for a nearly 20% share in Archer Aviation. The Archer stake, which Boeing will not receive until the deal is closed, is only worth a little over $1 billion according to its Thursday night share price. The company received a much-needed cash injection to stabilize its balance sheet by selling Jeppesen, but the sale of Wisk was a risky distraction and a way to offload risks. The development and certification of 'air taxis' and similar aircraft took a lot longer and cost more money than the advocates expected. They must still prove that they are viable commercially and overcome significant regulatory hurdles. Aboulafia stated that Wisk cost Boeing time and money, but there was no obvious payoff. Boeing sold Wisk Aero to other major electric vertical lift-off and landing (eVTOL), but they declined the sale. This deal is a win-win situation Boeing and Archer have agreed to a?collaboration and technology-sharing deal that will allow Boeing to use Wisk's autonomous-flight core technology for its current and future commercial aircraft programs. Brian Yutko said that the deal was a win-win for both parties. Yutko served as CEO of Wisk from May 2025 until he assumed his current position at Boeing. Archer brings together complementary autonomy capabilities and electric aviation technologies developed over many decades. Boeing's equity stake in Archer allows us to maintain market exposure and gain strategic upside. We can also continue to integrate these technologies into our products and sharpen our focus on our core commercial, defence and services businesses. Archer Aviation CEO Adam Goldstein said on X that the share price of Archer was up 24% as of Thursday. This is a significant increase since the announcement of the deal. While some critics saw 'Boeing’s equity stake in the deal as a sign that the company wanted to?offload risk, Archer Aviation Chief Executive Adam Goldstein stated on X: "the deal structure shows that Boeing understands the value of this combination ..." Aboulafia, and other industry experts, said that Boeing is now focused on increasing its jetliner production rather than pruning its portfolio. (Reporting and editing by Kate Maybery in Seattle, with Dan Catchpole reporting from Seattle)
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The Danube's record low levels have revealed sunken World War Two shipwrecks
Two World War II German warships have surfaced in Eastern Serbia due to a record-low water level that exposed sandbanks and stranded vessels. The rusty hulls of boats that were submerged since 1945 are now visible. Further north, in Novi Sad, many small vessels docked at marinas still remain stranded. Ljubisa Karali, a local fisherman from Prahovo said: "This is a first, the wrecks that we are heading toward right now have never before been so visible." "They have always been submerged. What we are?seeing is utterly unparalleled." The'record-breaking heatwaves' that have swept across Europe this summer caused severe drought in some parts, including the Rhine and Danube. The Danube temperatures in Serbia were at a maximum of 28 degrees Celsius. "A record was broken in terms of the?Danube discharge." Jelena Jerinic, of Serbia's Hydrometeorological Service, said: "We hope that this is the minimum.?Rain is forecast upstream, which should improve the situation." She warned that biodiversity along the river is also threatened. High (water) temperature, combined with low water volume, can accelerate the proliferation of bacteria and microorganisms, while reducing dissolved oxygen. (Reporting from Fedja Grulovic, Marko Djurica, Ivana Skularac, editing by Chizu Nomiayama)
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Oil spillage off Oman is threatening to cause a disaster as two slicks are seen in the Gulf
Satellite imagery and video confirmed that two slicks appeared in Iranian waters. The Caroline Bezengi tanker is currently leaking Russian crude in a marine protected area, creating a massive oil spill that some estimate to be 2,000 square kilometers. The Caroline Bezengi case is not linked to the Iran War. Two new slicks have been detected in the Gulf. Near DOLPHIN SHAPED ISLAND Images from Copernicus Sentinel-2 satellites show that a slick is visible near the southern tip Qeshm Island. This large island shaped like a dolphin lies in the Strait of Hormuz, close to Iran's coastline. Wim Zwijnenburg is an environmental researcher and open-source researcher for the Dutch peace organization PAX. He said that the dark color in some parts of the slick was fuel oil heavy, while the lighter, diluted slick spanned around 160 km. In a video that was posted on 11 August and confirmed by the, dark, bubbling liquid washing up on the beaches at?Suza, Qeshm Island contrasted with the turquoise waters surrounding it. John Amos, CEO at SkyTruth which uses satellite images to detect oil spills called it "a major event". Satellite images showed that a second slick was spotted in the Gulf near Sirri Island, a smaller island located about 100 km southwest from Qeshm. This is where some Iranian offshore oil production takes place. Satellite imagery of Qeshm Island and Sirri Island were taken on August 10, respectively. A DRY BULK CARRIER HAS BEEN ATTACKED Samir Madani said that the Qeshm island slick was likely caused by a leak on the Minoan Pioneer dry bulk ship. The Liberia flagged vessel is a co-founder of TankerTrackers.com, an online monitoring service. Sources from maritime security said that the Minoan Pioneer, while passing through the Strait of Hormuz in an alleged Iranian attack on 3 August, was struck by an unknown projectile near Oman's coast. One seafarer has gone missing. One maritime security source said that the same leak may have affected Qeshm Island. Esmaeil BAQAEI, a spokesperson for Iran's Ministry of Foreign Affairs said on X in a posting that oil pollution had?reached Qeshm Island, and that preliminary evidence "indicates a bulk carrier from abroad as the source". Could not independently confirm either slick's cause nor identify the chemicals involved. Sources involved in the salvage of the 'Minoan Pioneer', who refused to be named due to the sensitive nature of the matter, said on Friday that the tugboat sent to secure the vessel grounded could not reach it because the Iranian authorities had to grant permission. The Iranian Mission at Geneva has not responded to an immediate comment request. The conflict in this region has complicated efforts to assess and clean-up spills in Gulf waters, according to Brian Barnes, assistant professor of research and satellite oceanographer at the University of South Florida. The longer the oil leaks into the environment, the greater the damage it can cause to ecosystems and coastlines. (Reporting from Nilo Tabrizy and Jonathan Saul, in London; Catherine Cartier, in Winston-Salem North Carolina; and Renee Maltezou, in Athens. Additional reporting by Emily Giles. Editing by Jason Neely.
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Data shows that Turkey has cut its Russian oil imports due to Black Sea export disruptions, which have slowed down supplies.
According to traders and LSEG shipping data, Turkey cut oil purchases in Russian ports by 30% in July. It is expected to further reduce them in August as a result of Ukrainian drone attacks that disrupted the exports to Russia's Black Sea Terminals. In July, Ukraine intensified its attacks on?Russia?s Black Sea Terminal. This led to an export suspension of one week from the CPC terminal as well as unstable loadings at Novorossiysk. Caspian Pipeline Consortium oil loadings were reduced by 5 percent in July. Turkey condemned attacks on Russian-linked tankers that were?close to the waters of its Black Sea. They said they were alarming, and affected navigational safety and commerce in the area. In July, Turkey, which is one of the largest buyers of CPC Blend oil, Kazakh KEBCO oil, and Urals oil grades from Russian ports, only received 900,000 tonnes of oil, down from 1.2 million in June. LSEG data shows that just over 300,000 tonnes of this oil was supplied by the 'Black Sea, compared with 600,000 in June. According to LSEG, Turkey will receive 200,000 tons worth of oil in August from Russia's Black Sea port. Two tankers are expected to deliver KEBCO Kazakh oil to Turkey. However, no CPC?Blend oil or Urals oil is planned for this month. Data may be updated at a later date. Turkey diversifies its supply to offset the 'negative effects of the Black Sea Crisis, traders said. They added that in August, the state will import rare oil from Brazil and Guyana. Since the middle of the last month, loadings of the CPC pipeline have been disrupted. This is in addition to the supply disruptions linked to the U.S. and Israeli war against?Iran. The Financial Times reported on Wednesday that Ukraine had halted drone attacks?on non Russian oil tankers using Russia’s Black Sea CPC Terminal after a request by U.S. Vice-President JD Vance.
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Deutsche Bahn's DB InfraGO challenges German regulator's rail-capacity ruling
DB InfraGO, a division of Deutsche Bahn that manages rail 'tracks' and capacity, took legal 'action' over a regulator's decision to restrict 'Deutsche Bahn access to 'congested routes', the company said on Friday. In its Friday filing, it also requested a suspension in the regulatory order while it pursues its legal challenge. In July, the Federal Network Agency of Germany ordered DB InfraGO that it would cap any one operator's share 'at 60% to 70% on certain congested route' to allow rivals to access. The German?Bahn, which controls 95% of Germany’s long-distance market, is currently battling chronic delays and undergoing a decade-long network upgrade that will cost approximately EUR150 billion ($173billion). The July ruling by the regulator followed a complaint from?Italian High-Speed Operator Italo The company, which wants to enter the German market by 2028, says that it needs predictable access to an already overloaded network. DB InfraGO stated that the regulator's decisions favoured operators who have a regular timetable and may disadvantage new entrants or established operators if they do not follow this model. In a press release, DB InfraGO AG stated that it hoped to clarify the legal basis, the proportionality and the 'practical feasibility' of the orders issued by the authority. The network regulator stated that the DB InfraGO decision was "not unexpected given the fundamental importance of the case". It said that the?arguments made had already been the subject matter of proceedings, and they were taken into account.
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Dubai's earnings slip due to weak Air Arabia and Alec, while Abu Dhabi gains
Dubai's main stock index fell on Friday, after the United States threatened a?naval?blockade against Iran. This sparked concerns about potential?trade disruptors in the?Middle East. The United States said on Thursday that it would continue to maintain its naval blockade against Iran and increase economic pressure in Tehran, as the ceasefire talks failed. Dubai's main index dropped 0.4% for the second consecutive session. This was dragged down by a 4.1% decline in budget airline Air Arabia, and a 0.5% drop in blue-chip developer Emaar Properties. Air Arabia reported its largest intraday drop in over three months after reporting a fall of 75% in the?second quarter net profit, to 87.9 million dirhams (US$23.93). The Investment Corporation of Dubai's construction firm Alec Holding dropped 4.4%, to a new four-month-low after reporting a loss of 16.3 millions dirhams ($4.44million) in the second quarter. This compares with a profit of 122.9% dirhams one year ago. The benchmark index in Abu?Dhabi rose 0.02%. This was boosted by Orascom Construction's 1.8% gain and Space42, a space tech company powered by AI. Orascom Construction, an EPC contractor based in Cairo, reported a 74% increase in net profit for the second quarter to $61.9 millions. Adnoc Gas fell 0.9% following its parent company's?statement that two of their vessels were?attacked on Thursday night while transiting through the Strait of Hormuz. LSEG data shows that Abu Dhabi's Index posted a -0.5% loss for the week after?three weeks of gains. Dubai dropped 1% following two weeks of gains.
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Sinograin, a Chinese soybean company, announces its fourth major auction since July.
Sinograin, a Chinese company, announced on Friday that it will auction 360,000 metric tonnes of imported soybeans on August 19. Industry experts believe that the state stockpiler is clearing out space for incoming U.S. soyabeans, as evidenced by its fourth sale since July. According to a?notice from the National Grain Trade Centre, a?sale is scheduled for 1:30 pm (0530 GMT) on Wednesday. It will include soybeans produced between 2022 and 2025. After a 'May summit between Donald Trump and Xi Jinping, China agreed to purchase 25 million tons of U.S. soya beans annually until 2028. Two traders in 'Asia' said that China has 'already bought about 7 million tonnes of U.S. soya beans as of this week and they expect Sinograin will continue auctions over the next few weeks. Reporting by Shi 'Bu, Yukun Zhu and Liz Lee Editing and David Goodson by Hugh Lawson
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The financial week in five charts - Bank boom, aluminum squeeze and smart freight
Open Interest (ROI), every Friday, distills the previous five days' financial week into five charts that highlight the most important trends, surprises, and overlooked moves. 1. HORMUZ REALISTIC CHECK CLYDE RUSSEL, 'ROI Asia Commodities and Energy'?Columnist : Middle East crude exports, including?flows across the Strait of Hormuz?, have been depressed this summer, say commodity analysts Kpler. The data is in line with other vessel tracking companies but it stands in stark contrast to the claims made by U.S. Energy Sec. Chris Wright this week that 15 million barrels of crude oil per day were leaving the region. This includes 9 million bpd flowing through 'Hormuz. 2. JAMIE MCGEEVER, ROI Markets columnist: The workers' share of U.S. GDP continues to decline, reaching a record low 52.9% in the second quarter. The Q2 earnings season showed a 'eye-watering' U.S. profit growth of more than 50%. Main Street and Wall Street are gaining ground in the economic pie. 3. INVENTORY DRAINS ANDY HOME, ROI Metals columnist: Aluminum inventories at the London Metal Exchange are down to their lowest levels since 1990. The supply-chain shocks from the Iran War are dwindling a market that was historically characterized by an oversupply. 4. AUTOMATION SHIFT GAVIN MAGUIRE, ROI Global Energy Transformation Columnist: The transportation sector, the largest energy consumer in the U.S., could be affected by automation. Automation could be used to reduce energy waste and change fuel demand in the U.S. 5. EURO BANKS BEAT MAG7 Mike Dolan, ROI Finance & Markets columnist: Goldman Sachs analysts this week tried to?bust myths that underlie negative views?of European equities. The most striking observation they made was that the boring old euro zone banks have outperformed U.S. megacap tech giants since early 2023 - before the term for Wall Street's high-flyers even existed. The Roundhill "Magnificent 7" exchange-traded funds has grown 182% since its launch. The main euro zone banking index, however, is up almost 210% in the same time period. This is driven by AI and the return of durable positive interest rates. The opinions expressed are solely those of their authors. These opinions do not represent the views of News. News is committed to the Trust Principles and to integrity, independence and freedom from bias.
The Hormuz gas shock did not break Europe's market. Martin Vladimirov, Borbala Toth and the time might
The?market for natural gas in Europe has, at least thus far, passed the Hormuz test. The U.S. and Iran peace agreement suggests that the worst shock is over, even though flows may only recover gradually. This should calm supply concerns and focus attention on the pressures that will shape the market over the next few decades.
As a result of the U.S.-Israeli conflict with Iran, the Strait of Hormuz was closed to nearly all trade in liquefied gas. This pushed gas prices in Asia and Europe sharply higher.
Although the Strait of Hormuz is expected to be reopened under 'the deal,' tanker operators warn that transit could take several weeks, and LNG producer QatarEnergy reported that Iranian attacks had wiped out up to 17% its capacity over a period of five years.
Since the beginning of the conflict, on February 28, the average European price per megawatt-hour (MWh) has risen by approximately 10 euros or 31%. The gas bill of the 27 countries in the European Union has risen by 48% during this crisis.
The shock of the gas crisis has not shaken Europe's market. The European gas market was able to plug the hole created by Hormuz with abundant U.S. supplies and higher volumes from Algeria and Nigeria.
The system is not fragmented in to competing zones. No major infrastructure bottlenecks occurred, and the price increases were roughly equal in all member states. Pipelines, terminals for LNG and interconnectors have helped maintain market stability under extreme stress. It does not mean that the shock was without pain, of course. According to preliminary LSEG figures, Russian LNG imports increased by roughly 17% between January and May, even though Europe is seeking to cut energy ties with Moscow because of its invasion of Ukraine in 2022.
Overall, Europe's system of gas supply proved resilient, even when compared to the magnitude of the shock. It also appears capable of taking on more. We simulated a shock that was more severe, combining an Hormuz style disruption with a complete ban on Russian gas.
This scenario would see European gas prices rise only by 0.4-0.8 euro per MWh for Western Europe, and 1.1-1.4% in Central and Eastern Europe. That's about 7% more than the increase since Hormuz ended.
The modest increase is due to Europe's ability, through new LNG regasification facilities in the Baltic Sea, Adriatic Sea and Aegean seas, to replace most Russian volumes. The CEE region's expanded interconnector infrastructure and some reductions in demand helped to limit supply bottlenecks.
It seems that the fears of future supply shortages on the continent, especially among those who oppose the complete phaseout Russian gas, may be exaggerated. Demand is the greater risk, with a much bleaker outlook.
Demand destruction is expected to occur in Europe over the next few decades.
This is the conclusion of the 'joint modeling assessment' recently completed by the Center for the Study of Democracy and the Regional Centre for Energy Policy Research. The EU's energy outlook for 2040 was assessed under three scenarios - current trends, rapid carbonisation and greater reliance upon gas as a transition fuel.
Unsurprisingly, the slope of the curve is dependent on global gas prices.
We expect European wholesale prices to average around 25 euros per megawatt-hour (MWh) - approximately 50% lower than the Iran shock levels. This is supported by an abundant global LNG supply. Gas-fired power plants would still be competitive at those prices. Coal would be phased-out faster and industrial users would continue to use gas as they waited for low-carbon alternatives.
We estimate that the total EU gas consumption will still drop by 30% between 2030 and 2040 to 2,700 Terawatt-hours per year. This is due to efficiency gains in residential sectors, as well as rapid electrification of industrial segments, where electricity would likely replace natural gas for heating.
If current trends are maintained, the average European gas price would be closer to 35 Euros. Gas will likely continue to?play a significant role in the balancing of power markets.
Its economics will likely become less attractive for buildings and industries, where the higher prices would increase incentives to electrify. The annual gas consumption will fall to 2,300 TWh.
In the scenario of accelerated decarbonisation, tighter global LNG markets coupled with geopolitical disruptions will push gas prices to 65 euros. Gas consumption is expected to fall rapidly in almost all sectors at these levels and reach around 1,700 TWh, roughly half of the demand level predicted by the most optimistic scenario.
In such an environment, it is likely that power systems would rely more on renewables, new nuclear plants, and batteries, while electric heating in buildings will become the norm. The European industry will also be under increasing pressure to reduce consumption, electrify wherever possible, and improve efficiency.
CONCENTRATED SUPPLY
Europe's options on the supply side may be limited in time. Qatar, the second largest LNG exporter in the world, is likely to direct a greater share of its LNG sales towards Asian buyers due to the rapidly rising energy demands of the region.
In all of our scenarios, U.S. LNG will dominate the European LNG market. U.S. volumes currently account for around 60% of all European LNG imports. We expect this share to reach 80% in 2030 if Europe completely phases out Russian gas.
Our high-price scenario seems more realistic as a result of this dependency, along with the increased risk from a fragmented market.
These are just scenarios based on assumptions which may or may not come true.
These findings, however, challenge a widely held assumption in Europe's debate on energy: that gas could be used as a cheap transitional fuel over decades. LNG prices may remain high due to global competition and geopolitical disruptions. This could accelerate Europe's move away from gas, regardless of its policy goals.
The gas story in Europe may be defined by gradual erosion, rather than a sudden collapse.
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(source: Reuters)