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Smoke in the cabin causes emergency landing of a Boston bound Delta flight in Portugal
Delta Airlines reported that a flight from Barcelona to Boston made an emergency landing in Porto, Portugal on Sunday afternoon. The company reported that Flight DL251 had been diverted from Barcelona to Porto due to a mechanical problem and landed safely there. Flightradar24, a tracking service, indicated that the plane left Barcelona at 3:15 pm (1315 GMT), and landed in Porto at 5 p.m. (1645 GMT). A spokesperson for Portugal's emergency and civil protection authority said that eight passengers who were on board the Airbus A330 were treated at the Francisco Sa Carneiro Airport, while three others were transported to hospital. The Portuguese spokesperson said that the forced landing was due to "smoke" in the cabin.
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Increased security at US Fairford Air Base in England
A witness said that security measures at an 'US airbase in southwest England have increased significantly in the last few days, with roadblocks and armed police blocking access, as well as emergency vehicles parked near. A spokesperson from the US Air Force confirmed that they are aware of the current reports but will not discuss specific measures to protect forces. The spokesperson stated that "the 501st combat support wing and our UK-based Wings will remain vigilant and take appropriate actions to ensure safety and security for?our US servicemen, civilians and contractors, as well as their families." "We continually assess a number of factors to determine which measures we implement?or change in order to protect our installations and our people, as well as their families." Britain declared?in July that its armed forces were ready to protect the country against any attack, after Iran's Revolutionary Guards warned not to allow US bombers fly out of Fairford. Fairford in Gloucestershire was used to launch operations against Iran during the Middle East Conflict.
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Boeing flags 737 MAX Software Bug Affecting Landing Navigation Feature, WSJ Reports
The Wall Street Journal, citing documents from the company, reported that Boeing has discovered a previously unknown software bug in its 737 MAX aircraft. This glitch could cause an automated navigation 'feature' to fail on landing. Report said that the issue was caused by a software update in the cockpit and could occur when crews change their flight plan after a missed landing. Boeing, when asked for comment, said that it had informed 'all 737 operators' last month of the software problem under which pilots could not?have access to automated flight guidance in a certain landing scenario. Our engineers are working on a software update to 'permanently address the issue. Boeing stated in an email that engineers were working on a permanent software update. The Federal Aviation Administration (FAA) said that it was aware of a possible issue with a software update to the flight computers in certain Boeing 737 MAX aircrafts, and worked closely with Boeing as well as the airlines. The FAA issued a statement saying that it would convene a Corrective Action Review Board if a safety concern was identified. Boeing has come under heavy regulatory and safety scrutiny over the past few years, following two 'fatal 737 MAX crash incidents in 2018 and 2019, which led to a 'worldwide grounding of the aircraft. Also after a cabin panel blew out mid-air on a brand new Alaska Airlines MAX 9 in 2018. Southwest Airlines and 'United Airlines' have requested that Boeing not deliver new 737 MAX aircraft with the affected software, and instead request an earlier version. The report stated that it was not immediately clear how many aircraft were operating with the flawed software. Boeing, airlines, and regulators are evaluating the issue to determine if it poses a safety concern for flight, according to the report.
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Russia claims it has struck Ukrainian defence industry vessels and facilities
On Friday, the Russian Defence Ministry said that 'its forces' had carried out drone strikes overnight on Ukrainian defence industry installations, logistic centres and vessels used in Ukraine by its armed forces. The 'Ministry' said that the strikes targeted a 'drone assembly and storage site, in the Kyiv region; logistics hubs in Odesa and port infrastructure in Reni along the Danube River. It was also reported that Russian forces had struck a cargo vessel carrying dual-use and military goods bound for the port of Odesa. Later, on Friday, the ministry announced that its forces had hit another cargo ship?in Odesa that was delivering a?logistics centre?to the port Chornomorsk. This centre is used by Ukraine's armed forces and security forces. It also houses a data center for the?processing of intelligence data and the transmission of it. Could not independently verify statements.
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Volkswagen recalls 4 million cars, Handelsblatt reports
The Handelsblatt reported that Volkswagen, the German automaker, will recall 4 million vehicles from four different brands. This is the largest recall since the Dieselgate scandal. According to the German KBA, there will be a recall of 2.16 million VW and 700,000 Audi vehicles. The Handelsblatt reported that Volkswagen's Czech?brand Skoda, and Seat in Spain would also be affected by the action. Seat confirmed that the number. Skoda has not yet commented on the report. Volkswagen stated in an earlier press release that customers were asked to bring their vehicles to be repaired due to a?risk of corrosion associated with a screw within the steering system. If left unchecked this could affect the steering system's function in the long run. The company said that the recall is a precautionary measure, and that replacing the screw will take less than an hour. Volkswagen refused to comment on the cost estimate of the recalls.
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US airlines oppose China’s bid to increase flights
On Thursday, the head of the industry group Airlines for American?said that US carriers opposed adding more direct flights to the United States from China despite the fact that Xi Jinping, the Chinese President raised the idea. Chris Sununu, the head of the group that represents American Airlines, United Airlines and Delta Air Lines, among others, has said US carriers are still hampered because their Chinese counterparts have been allowed to fly over Russia on eight flights. He told reporters that he had been urging officials in the Trump administration not to cave. It's not a small thing. Sununu told an interview that it is a costly exercise for airlines to travel around Russia. Xi brought up the issue of increased flights at a Washington event on Thursday. At the moment, each country can only operate 50 round-trips per week. "Our two parties may also increase direct flight to facilitate travel in both directions and trade," Xi - said. The White House has not yet commented. Before the COVID-19 epidemic, each side was allowed to fly more than 150 round-trip flights per week. Chinese and US carriers were limited to 12 flights a week each between the two nations until August 2023. Air China was asked to increase the number of flights it offers from the US East coast to China, but Airlines for America resisted the request last week. US carriers are banned from doing so because they cannot access Russian airspace. Chinese carriers however can fly eight US flights. "It's imbalanced. Sununu stated, "It's unfair." "They have an advantage already with eight flights. "It would be a huge advantage to give them even more," he said. "Don't worsen it for us." In?March 2022, the US banned Russian flights in American airspace following Russia's invasion into neighboring Ukraine. This prompted Russia to prohibit US carriers from flying over?the country. The United States did not ban other countries from flying over Russia, but they made a deal in 2023 with China that any additional flights would not be allowed to do so. The US Transportation Department proposed in October 2025 to ban Chinese airlines from flying above?Russia along routes between the United States and Canada. They argued that the shorter flight times this practice allows puts American carriers at an unfair disadvantage. The proposal was withdrawn after it faced opposition from US agencies.
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Alaska Air expects certification of the Boeing 737 MAX 10 by end-September
Alaska?Air?expects Boeing’s?737 MAX 10 aircraft to be certified before the end of September, and plans to deliver its?first plane next spring. Chief Operating Officer?Jason Berry said on Thursday. Berry said that the airline expects to begin passenger service with the MAX 10 between mid-April and April. Before Boeing can start deliveries, the Federal Aviation Administration (FAA) must certify that aircraft. This timeline could be impacted by any delays in the 737 MAX 10 certification process, which is already several years behind schedule. Alaska must then certify the heads-up displays for pilots after the single-aisle aircraft is certified by federal regulators. This will take "a few?months," according to him. He said that the tight schedule "is sport," adding, "We're not panicking yet."
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Maguire: The cement boom in Africa signals the next big shift in global energy usage.
Africa consumes less than 5% of the global energy supply. It is therefore vastly outweighed by other regions when it comes to assessing current trends in energy and pollution. The aggressive plans to build cement plants in the region may change this. Global Energy Monitor data shows that Africa dominates the global pipeline of cement production capacity being built. This construction share is compared to a 8% share of the currently operating cement capacity. This indicates a 'rapid growth in planned production on the continent. But cement investments are about a lot more than just construction materials. These bets are on urbanization, regional economic growth and industrialization. Concrete is used to build roads, houses, factories, ports and other infrastructure before countries use more steel, chemicals or manufactured goods. The cement pipeline is a good indicator of Africa's energy needs. These are expected to increase dramatically if the construction boom linked to the plans for cement capacity materializes. The trend of energy consumption and emissions in the rest of world is expected to be curbed by electrification, and the slowing of heavy industrial production. Leaning In GEM data indicates that Africa has a cement production capacity of 441 million metric tons per year in operation and 43.3 millions tons per annum under construction. African nations also announced plans to add 23 million tons to the current annual cement production capacity. This would increase the total capacity of the region by 15%, compared to its current level, bringing it to just under 507 million tonnes. The overall increase in capacity for cement in Africa is far greater than planned additions to cement capacity in other regions. This indicates that Africa’s development plan looks set to be?more raw materials-intensive' than other parts of the globe. Africa's heavy-duty cement plans indicate a similar steep rise in raw materials and energy requirements, since cement production is notoriously high energy-intensive and requires large quantities of coal, petroleum, coke, and natural gas to ensure ample output. These cement projects will increase the demand for electricity, as well as infrastructure to import, store, and distribute coal, gas, and other fuels. They also need to ship out concrete produced. The plans to expand Africa's cement manufacturing footprint are a response to the growing demand for industrial energy in Africa, which will initially be supplied by fossil fuels. FRONTRUNNERS EGYPT & NIGERIA Egypt, among African countries, has the largest cement production footprint of 88 million tonnes per year. Nigeria is second to India for the amount of cement currently being produced. Libya, Mali and Angola are also among the top 20 countries in the world for cement construction. This shows that growth is expected across the entire continent. Even if Africa adopts cleaner energy technology more rapidly than other industrializing regions, the scale of planned construction of cement suggests that it will still need large quantities of materials to urbanize. The fact that 16 African nations are building new cement kilns suggests that Africa is on the right track to follow some of the same blueprints as countries in Asia. CLEANER CONCRETE? The African cement plan is different from those of other regions because African developers can use the most modern and efficient components to build their?cement plants. Modern kilns have a higher efficiency than those that were installed ten or more years ago. They should therefore be able to produce more cement using fewer inputs. Locally produced renewable electricity -- such as rooftop solar installations -- may also be used to run milling and processing equipment, reducing energy costs for producers. Electric cement kilns, which are becoming more widespread, offer the potential to further reduce energy intensity in countries that want to limit their industrial carbon footprint. Cost considerations will likely remain paramount on many African markets. This may delay the adoption of expensive emissions-reduction techniques such as carbon sequestration. This means that cement production in Africa will be energy- and material-intensive, even though they use the latest kilns available and the most advanced components. Cement projects in Nigeria, Libya Mali, Mozambique, and other countries are not just industrial investments. These projects are early indicators of future growth in?energy demand. Africa's urbanization and industrialization could make it one of the world's largest sources of demand for electricity, fuels for transport and industrial energy. This would force policymakers to find a balance between rising living standards and rising emissions. These are the opinions of the columnist, an author for. You like this column? Check out Open Interest, your new essential source for global financial commentary. Follow ROI on LinkedIn, X and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.
Bousso: The Mideast war both helps and hurts BP's CEO's turnaround plans
BP has received a windfall from the Middle East conflict, thanks to higher gas and oil prices. This will help Meg O'Neill in her efforts to stabilize the ship.
The Iran War has made the future of energy less predictable and has complicated BP's attempts to chart a course for the long term.
BP is today 'on a much firmer footing than it was in February when it reduced planned capital expenditure for 2026 due to growing concerns about looming oil and?gas surpluses that would impact on prices and earnings.
This narrative was flipped on its head when the Iran War began on February 28, 2003.
As a result of the sudden increase in energy prices and the closure of the Strait, buyers were forced to scramble for other cargoes. BP, along with its Big Oil competitors, was among the biggest beneficiaries.
The British oil giant reported a second-quarter profit worth $5.7 billion – the highest since 2022 – thanks to high oil and gas costs, exceptional refining margins, and a robust performance by its trading division.
Cash flow surge helped BP reduce its net debt from $22.5 billion to $22.5 billion in the last quarter. This allowed it to advance by an additional year until the end of 2026 to achieve its goal of reducing net debt between $14 billion and $18 billion.
O'Neill's stronger financial position is a much more comfortable one than what she inherited in April when she became CEO of BP. She was given the mandate to stabilize the company after a turbulent period marked by leadership scandals and strategic drift, as well as a failed attempt to transform it into a renewable-energy champion.
Once investors have reaped the benefits of the Iran war, they will naturally ask, "What next?"
It is not obvious what the answer to this question is.
RIVALS STRONGER, BUT LAGGING
O'Neill has already made it clear that he intends to make rapid changes to the company's strategic direction.
During her first four-month tenure, BP announced a number of job cuts. It also restructured its leadership, dismantled the low-carbon division, and restructured corporate structure to resemble a traditional upstream/downstream organisation.
BP also accelerated the asset sales. Last week, BP made a symbolic move by selling its North Sea?business. The company was removing itself from a historic oil region that has defined BP's history.
It is still unclear whether investors fully support O'Neill's plan. BP shares have dropped around 3% in the last few months, underperforming competitors such as Shell and TotalEnergies.
The market's caution is partly a response to BP’s strategic drift during the first half of the last decade which resulted in approximately $50 billion of write-offs. However, it also reflects this year’s extraordinary volatility in the energy markets.
Investors try to differentiate between a wartime windfall, and a long-term improvement in the company's prospects.
WHAT'S NEXT, MEG?
BP is likely to seek to clarify this issue when it announces its updated long term targets in the next few months.
It is almost certain that they will reinforce the direction O’Neill has already established, focusing on exploration of oil and gas, operational performance and debt reduction, as well as shareholder returns.
The very conflict that BP used to boost its finances could have also complicated BP's future.
The Iran War exposed the vulnerability of a system of energy that is heavily dependent on only a few supply routes and production regions.
The governments and companies who have suffered most, especially those in Europe, Asia and the Middle East, are now reevaluating their energy security strategies, which includes their dependence on fossil fuels imported.
Some will likely accelerate investments in domestic energy sources - from renewables to nuclear power and coal - while pushing forward with the electrification and automation of transport, industry, and heating.
Some may choose to increase their domestic hydrocarbon production or to build up strategic stocks to protect themselves from future supply shocks.
The assumptions underlying future energy demand have become harder to predict.
The conflict has also raised questions about the future investment of the Middle East.
Even after the crisis subsides the security of the Strait of Hormuz on a long-term basis will be in doubt, underlining the risks of concentration of future production growth into a region which remains susceptible to geopolitical turmoil.
This presents a special challenge to BP. In 2025, the Middle East will account for approximately 411,000 barrels equivalent to?per-day or 18% of BP's total production. The Middle East is becoming a more important location for new investments.
BP acquired a 10% stake, in June, in two major projects in the United Arab Emirates -?the Bab gas cap project? and the Ruwais 'LNG development. The company is also renovating the massive Kirkuk oilfield located in northern Iraq.
EXPENSIVE CHOICES
Oil companies respond to the uncertainty of oil prices by concentrating their capital on their most reliable and lowest-cost assets.
To maintain production, and even grow it, BP must invest billions of dollar in new large projects such as the Bumerangue giant discovery off the coast of?Brazil. They will also need to continue to progress developments in the Gulf of Mexico Namibia, and the Middle East.
It is a challenge that post-war conditions make investment decisions more costly. Producers' scramble to increase output has already increased demand for drilling equipment, services, materials and equipment across the industry.
All oil companies are affected by these pressures. BP is more vulnerable than others because of years of strategic turmoil and a slowdown on upstream investments.
The Middle East turmoil is giving BP what it needs: higher?profits and lower debt, as well as breathing space for a new CEO to reshape the company.
Ironically, the same crisis also has muddied market expectations. O'Neill's first challenge is to repair BP's financials, but the bigger challenge will be deciding how to invest BP's billions of dollars in its next generation.
It may be more difficult to make the right decisions in an energy system that has been reshaped by geopolitical risks, wars, and shifting demands.
You like this column? Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks. (Ron Bousso)
(source: Reuters)