Latest News
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Afghan man sentenced to life imprisonment for fatal car attack at Munich union rally
A German court announced on Thursday that a 25-year old Afghan man who rammed his vehicle into a union rally held in Munich last year, killing two people, was sentenced to life imprisonment. A spokesperson for the Munich Higher Regional Court stated that the court considered the crime to be particularly serious. This finding is consistent with German law, which generally prohibits parole after 15 years. A spokesperson for the court said that the man had been found guilty on charges of?two counts?of murder and 23 counts?of attempted?murder. Prosecutors claim that the man identified as Farhad N for his privacy acted with religious motivations in what he thought was "a response to the suffering of Muslims" in predominantly Islamic countries. He drove into a group of trade unionists in Munich in February 2025. The 37-year old woman and her 2-year-old child were killed, as well as over 40 others. He confessed to a?car ramming that occurred at the time.
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Media reports claim that the plane found near a drone at a German airport carried ammunition
The Sueddeutsche Zeitung, among other news outlets, reported that a Ukrainian cargo aircraft found parked next to an explosive-laden drone at Germany's Leipzig/Halle Airport on Tuesday night was actually carrying military ammunition. The report, also broadcast by NDR and WDR, cited a confidential police report and said that forensic experts determined the explosives on the drone to be of high military grade. These findings could raise the stakes of a wider counterterrorism investigation into the incident at a?airport that serves as a major military and cargo logistics hub, which the German government has classified as critical infrastructure. Alexander Dobrindt, the German Interior Minister, said on Wednesday night that the drone incident was a hybrid attack with heightened danger. The police in Saxony (where Leipzig/Halle are located) did not respond immediately to a'request for comments on media reports of the Ukrainian aircraft’s military payload. German authorities said Thursday that they are continuing to search for debris from an unidentified object which damaged another freight plane mid-air at Leipzig airport the same night. INCIDENTS DISRUPT ONE GERMANY’S MAIN LOGISTICS HUBS According to media reports, the drone was discovered near several Ukrainian Antonov An-124 freighters. These aircraft are among the?largest in the world. The cargo plane that hit the unidentified object had to perform a go-around because one of the runways at the airport was closed. The aircraft was only lightly damaged by the collision, and landed safely in northern Germany at Hanover. Flights were suspended late Tuesday and several aircraft including those operated by German logistics company DHL were diverted. A spokesperson from the Leipzig/Halle Airport, which is also used by Lufthansa and Amazon.com, stated on Thursday that all operations had returned to normal. No additional security measures were implemented. The German authorities said that the perpetrators of the incident at the airport had not been identified. However, Roderich Käsewetter, member of parliament's intelligence committee and lawmaker, directly blamed Russia. The Russian Embassy at Berlin has not responded to a request for comment sent by.
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The latest funding round of Hadrian Manufacturing Company valued the company at nearly $8 billion
Hadrian, a manufacturing startup in the United States, announced on Thursday that its valuation was $7.87 billion. To meet the growing demand, a larger footprint is needed. Investors have poured money into U.S. Manufacturing firms, as the Trump Administration prioritizes domestic manufacturing in order to reduce U.S. dependence on overseas supply chains for critical industries. The California-based firm raised $1.37billion in a?Series D round led by Washington Harbour Partners, WCM Investment -Management, 137 Ventures, Valor Equity Partners and Baillie Gifford. JPMorgan Chase’s strategic investment group joined as an anchor and co-lead?investor?through its Security and?Resiliency Initiative, which invests into U.S. businesses critical to national security, economic resilience and those in manufacturing, defense and energy. Hadrian operates highly-automated factories, which use AI and robotics to manufacture precision components and mission critical systems for its customers. The proceeds will be used to build new factories, increase research and development and increase production capacity as the company scales up manufacturing of defense and aerospace systems and industrial systems. Hadrian opened its factories in Mesa (Arizona) and Muscle Shoals (Alabama) since the Series C funding round of last year. Over the next 12 months, it plans to expand its production, including autonomous systems and munitions. Reporting by Prakhar Shrivastava, Bengaluru. Editing by Shakesh Kuber
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Renk CEO: 99% of the land business will be crewed until 2030
Renk CEO Alexander Sagel stated on Wednesday that he is "very certain" that 99% of the German defence suppliers land business will still involve crewed vehicles in '2030. He pushed back against'suggestions? that drones and loitering munition are making heavy armor obsolete. Sagel, speaking on the company's earnings call for its second quarter, said that meaningful demand for unmanned platforms is unlikely to appear before 2035. He said NATO’s July'summit' in Ankara reaffirmed the necessity for a mixture of capabilities, including air defence, long range strike systems, drones, and what he referred to as "conventional masses" across a variety of platforms, both ashore and at sea. Renk is a key market for the company. The comments are made amid a growing discussion about whether drones and autonomous?systems will reduce demand for armoured vehicles. Sagel pointed to the recent conflict in Iran as proof that air power, precision strikes, and long-range missiles alone can't win a battle. "You cannot end a fight, you cannot win one... by drones and airstrikes and only by long-range smart attacks." Sagel said that unmanned systems will complement existing platforms rather than replace them, and that Renk is already developing products to meet this market. He cited a 'heavy tracked unmanned ground vehicle' developed with Finland’s Patria, and a Finnish pre-series order with deliveries expected to start?in 2027's second quarter. He said that Ukraine has expressed a strong interest in the transmission system of that vehicle. As defence budgets increase across Europe, European governments are increasingly considering how to balance traditional armoured programs with newer autonomous and drone technologies. (Reporting and editing by Matt Scuffham; Reporting by Maria Rugamer)
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Bangladesh Gas Supplies Improve after LNG Terminal Restart
The gas supply to Bangladesh's grid has increased after a floating terminal for liquefied natural?gas operated by U.S. based Excelerate Energy partially reopened operations on Wednesday. A fire had closed the facility?for more than?two weeks. Petrobangla officials said that the restart of a regasification plant adds around 115 millions cubic feet of natural gas per day to the grid. This will ease shortages which disrupted industrial production, household supplies and power generation. A fire on July 21 damaged the electrical cable systems that were linked to FSRU's boiler operations. This caused a 450 million cubic foot gas cut per day. Bangladesh already faced a tighter LNG supply market because Qatar declared force majeure on some cargoes during the Iran conflict. This prompted Dhaka, amid rising prices and Strait of Hormuz shipper risks, to look for alternative LNG supplies. Petrobangla officials stated that the partial restart was the first step in restoring full capacity to the terminal and that the gas pressure should gradually improve. Excelerate Energy engineers are continuing to repair equipment while importing replacements imported from abroad. Excelerate Energy did not respond immediately to a comment request made outside of its business hours. The terminal is one of Bangladesh's floating LNG import terminals and regasifies between 500 million and 550 millions cubic feet of LNG each day. Bangladesh imports LNG to meet its rising energy demand and offset the declining production of domestic gas. The country uses between 3,800 and 4,000 million cubic foot of gas every day, but the average supply to the national grid is around 2,600 mmcfd. (Reporting and editing by Kirsten Doovan; Ruma Paul)
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Maguire: Why natural gas won't disappear from the US power grid
Since years, the narrative of the energy transition has emphasized a future that is dominated by batteries and renewables, with natural gases eventually falling into the background. The evolution of the U.S. energy system, however, suggests a more complex reality. Solar and wind power is increasing rapidly, and their share in electricity production increases every year. As power demand increases, driven by data centers, electrification, and new manufacturing investments, natural gas is still deeply embedded in the U.S. Grid. There are many reasons, both economic and practical: abundant domestic resources and infrastructure, unprecedented operational flexibility, and the growing demand for reliable electricity around-the-clock. They suggest that natural gas will not be able to give up its dominant role in the energy sector any time soon. Fuel to Burn The United States has a surplus of natural gas. The shale boom transformed the United States from a major gas importer to the world's largest natural gas producer. The U.S. has massive reserves of gas in the Permian basin, Appalachia’s Marcellus and Utica Formations, the Haynesville Shale and other producing areas. These reserves provide hundreds of trillions cubic feet (technically recoverable) of gas resources, and almost 584 trillion cubic foot of proven reserves. The country's resources are so rich that production continues to be near records. This abundance is important. The United States, unlike many other countries who must import fuel supplies to generate electricity, can do so with an abundant and relatively cheap domestically-produced resource. This is a huge advantage for utilities and policymakers who are concerned with energy security. PIPELINE PRIMACY Infrastructure is another benefit of natural gas. The U.S. built an extensive system of pipelines, power plants, processing plants, and storage facilities designed around gas production. Gas-fired generators are already available in the country, and there is a nationwide pipeline system that can transport fuel from regions of production to markets across the nation. The infrastructure represented trillions in investment. Although renewable energy can be built relatively quickly, replacing the reliability services provided by existing gas systems would require huge additional expenditure on transmission lines and storage capacity, as well as alternative dispatchable generation technology. Existing assets are important in energy markets. Few energy systems have assets as vast as the American natural gas network. RELIABILITY IS KEY! Gas isn't about underground reserves or pipeline infrastructure. It's flexibility. Electric grids must maintain a balance between demand and supply. Generation must be matched with consumption every second of the day. Even though solar and wind energy are becoming more abundant and cheaper, they only generate electricity when the weather cooperates. The solar production decreases each evening. Wind production can vary dramatically over hours, days, and even weeks. Gas-fired plants can fill this gap. Modern gas turbines are able to ramp up output quickly when required. Gas plants are often the shock absorbers for the grid during periods of extreme heat or cold weather. It is difficult to duplicate this operational flexibility at scale. Batteries are?expanding quickly and are proving to be valuable in managing fluctuations of short duration. Batteries are expensive and cannot be used for long-term backup. Also, technologies that can provide reliable power during extended periods with low renewable outputs are limited. Grids need electricity at all times, not just during favorable weather conditions. Demand for flexible gas is increased by the use of renewables It may seem counter-intuitive but the success of renewable energies could be one of the biggest drivers of gas demand. Grid operators are increasingly in need of resources to balance intermittent supply as solar and wind power enters the system. Evening demand can spike sharply after a daytime surplus. Long periods of cloudiness or low wind can cause large generation deficits. The greater the amount of renewable energy that is available in the system, then the more valuable it will be to have resources ready to respond quickly when the renewable output drops. Gas and renewable energy are complementary technologies, not direct competitors. When available, solar and wind can provide electricity at a low cost. Gas is a reliable alternative to solar and wind when they are unavailable. This partnership helps to explain why many areas continue to add renewable generation, while simultaneously relying upon gas-fired capability to maintain system stability. DEMAND GROWTH CHANGES ALLTHING Gas is also likely to stay in place because the U.S. power grid is facing a challenge that it hasn't faced for years: a rapidly increasing electricity demand. After a decade or so of relatively flat consumption rates, utilities now have to scramble to accommodate data centres, artificial intelligence infrastructures, semiconductor manufacturing, industrial relocation efforts, and transportation electrification. The industry is increasingly predicting sustained growth in load through the 2030s. To meet the demand, you need a generator that you can deploy quickly and that has a high utilization rate. Construction timelines for nuclear projects are often long. Permitting and completing transmission projects can take many years. The cost of large-scale storage is high, and most coal plants in the U.S. are several decades old. Gas plants are a familiar technology, with mature supply chains, and a long history of operation. These advantages are of great importance to utilities that face immediate reliability issues. ECONOMICS STILL MATTERS Economic arguments are also compelling. The U.S. Natural Gas prices are relatively low in comparison to many other international markets. This has been the case for most of the last decade. The cost of building gas-fired power plants is also lower than that of other alternatives, such as nuclear energy. It is also important to note that a large part of the fleet already exists. Utilities don't need to spend money on new systems in order to continue using assets already built and connected to grid. The economic inertia suggests that natural gas will continue to be a major component for the electricity sector. This does not mean that the energy transition has stalled. In the coming decades, wind, solar and batteries will account for an increasing share of U.S. electric supply. There is a difference between a fuel that loses market share and one that becomes irrelevant. The growth of natural gas in the US power sector is no longer undisputed. Its combination of?abundant domestic supply, existing pipeline, affordability, and unmatched operational versatility gives it something that no other resource currently has: a credible claim of indispensability. The grid of the future may be cleaner and renewable than that of today. If reliability is a non-negotiable requirement, then natural gas will remain a key component of the grid. These are the opinions of a columnist, who is also an author. This column is great! Check out Open Interest, your new essential source for global financial commentary. Follow ROI on LinkedIn, X and X. 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Challenges facing new Air India CEO Tewolde Gebremariam
Air India, which is owned by Singapore Airlines and the Tata Group, named Tewolde Gebremariam its new CEO. This comes at a time of great challenges for Air India. From record losses to safety lapses, they have been under intense scrutiny from regulators. Here are the major challenges that former Ethiopian Airlines CEO,?Mr.?Mahmoud?Al-Ghani?faced: SAFETY & COMPLIANCE The Air India Boeing 787 crash in Ahmedabad, June 2025 that killed 260 people has increased scrutiny on the airline's safety culture and operations. Indian regulators have reprimanded Air India over lapses, including the operation of an Airbus A320 in multiple flights without having a valid airworthiness review certificate and not conducting required checks on emergency equipment. In December, the airline admitted that it had to improve its process discipline, culture of communication and compliance. Air India Group has recorded record losses of over $2 billion for the fiscal year 2025-2026 that ended in March. This compares to a loss a year ago of around $1.13 billion. Since its return to privatization in 2022, the airline hasn't reported a profit. Singapore Airlines (SIA) auditors flagged signs that its investment in the 'carrier could be impaired due to difficult operating conditions and uncertainty over geopolitical issues, but SIA stated a formal evaluation concluded there was no need for a write-down. GEOPOLITICAL DISRUPTION & AN UNPROFITABLE NETWORK Air India has been forced to cancel flights, increase routes and reduce some of its most important international services due to the ban by Pakistan on Indian airlines from using its airspace until April 2025. Foreign carriers have expanded as a result of the disruption. MODERNISING FLEET Air India acquired an aging fleet and cabins that were outdated after years of decay. The shortage of seats, components and supplies has slowed down the refurbishment programme. The airline has retrofitted the cabins of 27 of its older Airbus A320neos, and is currently upgrading its widebody fleet. Air India has over 500 aircraft ordered. ? Tata, the airline's owner, pushed it to reduce costs and record losses. Campbell Wilson, Tewolde’s predecessor, consolidated Tata’s aviation business by merging Vistara with Air India, and combining all of its low-cost carriers into Air India Express. N. Chandrasekaran, Chairman of Tata Sons, has said that the airline is entering a critical execution and expansion period.
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Sweden's highest court allows transfer of ship to Ukraine
Sweden's highest court announced?on Thursday that it had upheld an?order that a cargo ship seized in the Baltic Sea this year can be?given to Ukraine where it is suspected illegally transporting grains from Russian-occupied territories. The Supreme Court dismissed the appeal of owners of the?the Caffa ship, which was seized off southern Sweden in March on suspicion of sailing under a false flag and violating maritime safety and ship laws due to an?lack seaworthiness. The Ukrainian government has been looking for the ship in connection with a suspected war crime investigation involving the removal and appropriation of property from Russian occupied territory. Lower Swedish courts stated that these alleged actions may constitute a crime of war?under Swedish Law, meaning Sweden can transfer the vessel and any related evidence to Ukraine. The Supreme Court will not grant leave to appeal. The Court of Appeal decision is final, the Supreme Court said in an?August 4 ruling. Police said that the majority of the crew on Caffa were Russians. (Reporting and writing by Anna Ringstrom; editing by Terje Solsvik).
Cheniere Energy announces a rise in profits for the second quarter on increased LNG demand
The demand for LNG helped Cheniere Energy report a rise in its second-quarter profit on Thursday. This sent the company's shares up by 2% in premarket trade.
According to the U.S., the U.S. is the largest exporter in the world of supercooled fuel, with 15 billion cubic feet of LNG per day (bcfpd). Energy Information Administration. This is up by?26% since?2024.
After taking office, U.S. president Donald Trump lifted the moratorium on new LNG export permits.
Regasification revenue was flat at $34 million. The company's total LNG revenue was $5.64 billion, up from $4.52 billion the year before.
Houston-based company, Texas, posted a $3.07 billion net profit for the quarter ended June 30 compared to $1.63 billion the year before. (Reporting from Pranav Mathur, Bengaluru. Editing by Vijay Kishore.)
(source: Reuters)