Latest News
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Two trains collide in Slovakia, injuring many passengers
Police and Slovakia's Interior Minister said that two trains collided in Slovakia Sunday night after one train ran into the rear of the other. Dozens of passengers were injured, they added. Matus Sutaj Estok, the Interior Minister who spoke at the accident site, said in a televised press briefing that 11 people were hospitalized and dozens of others were only lightly injured. He said that there were no fatalities in the accident. The accident occurred on the corridor connecting Bratislava, the capital city, with Pezinok (about 20 km) to the northeast. According to preliminary information there was neither a head-on collision nor a derailment of trains," the police posted on Facebook. The news website Aktuality.sk quoted a passenger who described the crash as a "bang". This is the second accident in Slovakia within the last month. Two trains collided Eastern Slovakia on October 13, injuring 91 people.
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Transportation secretary: US air travel is expected to drop to a trickle as a result of the shutdown
Due to a shortage of air traffic controllers, U.S. flights are expected to be "a trickle" as the shutdown continues. Transportation Secretary Sean Duffy made the announcement in comments that were broadcast on Sunday. After a Saturday plagued by thousands of cancellations and delays, major airlines faced a third consecutive day of flight restrictions. The government shutdown has now lasted a record-breaking 40 days. This has caused a shortage of air traffic control officers who, along with other federal employees, are not paid for several weeks. Duffy, on CNN's State of the Union program, said: "It will only get worse... the next two weeks you'll see air travel reduced to a trickle." Travel is a common activity in the weeks leading up to Thanksgiving Day, the biggest holiday in the United States, which falls this year on November 27. Duffy stated that "many of them will not be able get on an aircraft, as there won't be many flights if the thing doesn't reopen." DAILY FLIGHTS CUT In order to ensure air traffic safety, the Federal Aviation Administration has instructed airlines to reduce 4% of flights daily at 40 major airports starting Friday. The Federal Aviation Administration has mandated that flight reductions reach 6% by Tuesday, and then 10% by November 14th. The FAA said on Saturday that a shortage of air traffic control personnel was affecting 42 airport towers, other centers, and delaying flights at least in 12 major U.S. Cities, including Atlanta Newark San Francisco Chicago and New York. Duffy stated that a growing number of air traffic controllers have retired after the shutdown began on October 1. CNN reported that the FAA was 1,000 to 2,000 air traffic controllers short. Duffy stated that he had paid experienced controllers not to retire and stay on the job. "I used have four controllers leave a day prior to the shutdown. Now up to fifteen to twenty a day retire." On Saturday, 1,550 flights were cancelled and 6,700 flights were delayed. This is up from the 1,025 cancellations on Friday and the 7,000 flights that were delayed. Officials from airlines privately stated that the sheer number of delays programs makes it almost impossible to plan and schedule many flights. They also expressed concern about the future performance of the system if the staffing problems worsen. About 700 flights were cut by the four biggest carriers, American Airlines, Delta Air Lines Southwest Airlines, and United Airlines, starting on Friday. On Sunday, the airlines will cancel about 700 flights. During the shutdown of the federal government, 13,000 air-traffic controllers and 50,000 screeners were forced to work for free. Duffy said earlier that he would require a 20% reduction in air traffic, if more controllers stopped showing up to work. Republican U.S. Senator Ted Cruz, of Texas, said that the FAA told him that more than 500 reports of safety incidents involving air traffic controllers due to fatigue have been filed by pilots since the shutdown began. (Reporting from David Shepardson, Washington; additional reporting from David Ljunggren, Ottawa; editing by Christopher Cushing and Sergio Non)
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US airlines prepare for third day of flight restrictions
After a weekend of flight delays caused by a shortage of air traffic controllers, major airlines are preparing for the third day of mandatory government-mandated flight reductions. Federal Aviation Administration has instructed airlines to reduce 4% of flights daily starting Friday in 40 major airports due to safety concerns regarding air traffic control. The record-breaking shutdown has left air traffic controllers, and other federal employees who haven't been paid in weeks, short. The reduction in flight numbers is to be 6% by Tuesday, and 10% by November 14th. The FAA announced on Saturday that there are air traffic control staffing shortfalls in 42 airport towers, other centers, and at least 12 major U.S. Cities including Atlanta, Newark San Francisco, Chicago, and New York. On Saturday, 1,550 flights were cancelled and 6,700 were delayed compared to Friday's 1,025 cancellations and 7,500 delays. Officials from airlines privately stated that the sheer number of delays programs makes it almost impossible to plan and schedule many flights. They also expressed concern about the future performance of the system if the staffing problems worsen. About 700 flights were cut by the four biggest carriers, American Airlines, Delta Air Lines Southwest Airlines, and United Airlines, starting on Friday. About the same number flights are expected to be cancelled on Sunday. During the shutdown of the federal government, 13,000 air-traffic controllers and 50,000 screeners were forced to work for free. Sean Duffy, the U.S. Transportation secretary, said he might require a 20% reduction in air traffic if fewer controllers show up to work. Duffy said, "I evaluate the data." We're going make decisions based upon what we see on the airspace. Ted Cruz, a Republican senator, said that the FAA told him that more than 500 pilots had filed safety reports since the shutdown began about errors made by air traffic control because of fatigue. (Reporting and editing by Christopher Cushing; David Shepardson)
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UK provides Belgium with defence equipment to combat drones
The British military chief announced on Sunday that Britain will send experts and equipment to Belgium in order to combat drone sightings which have caused airports to temporarily close. In the past week, drones were spotted flying over Belgian airports and military base. Drones had caused significant disruptions across Europe during recent months. Richard Knighton (head of Britain's Armed Forces) told BBC that the Belgian counterpart asked for help and that equipment was on its way. He said that he and the defence secretary had agreed, at the end last week, to send our personnel and equipment to Belgium in order to assist them. However, he did not specify what equipment or how many people would be sent. Knighton said that it is not yet known who is behind the drone sightings. However, he noted that Russia has engaged in "hybrid war" over the past few years. Russia denies any involvement in the incident. Drones seen flying over airports in Belgium's capital and Liege, the east of the country, forced many planes to be diverted and some of those due to depart Tuesday were grounded. On Thursday, drone sightings forced airports to temporarily close in Sweden and other countries. On Friday, the German Defence Minister suggested that recent drone incidents in Belgium were linked to discussions about using frozen Russian assets held by Belgian financial institutions Euroclear to fund an enormous loan to Ukraine. (Reporting and editing by David Holmes; Andrew MacAskill)
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Philippines evacuates 100,000 as Fung-wong intensifies to super typhoon
Over 100,000 people were evacuated from the Philippines' eastern and northern regions on Sunday as Fung-wong intensified into a super typhoon, ahead of its arrival expected later that day. It is threatening to unleash torrential rainfall, destructive winds and storm surges. The Philippines has been flooded with storm alert signals. Signal No. The highest alert, Signal No. 5, was raised in southeastern Luzon including Catanduanes, coastal areas of Camarines Norte, and Camarines Sur. Metro Manila and its surrounding areas were under Signal No. 3. Super Typhoon Uwan (185 kph) is expected to land in Aurora Province in central Luzon on Sunday evening at the latest. Already, parts of Eastern Visayas are experiencing power outages. Images shared by the Philippine Coast Guard showed evacuees transferring from narrow, long passenger boats to trucks waiting for them during preemptive rescue operations. 300 Flights Canceled According to the Civil Aviation Regulator, more than 300 domestic flights and international flights were cancelled. The video, shared by ABS-CBN News X, showed a stormy Catanduanes Province, with an overcast skies, violent tree branches swaying in the wind and heavy rain falling visibly and pounding on the area. Its intensity was audible. Fung-wong arrived in the Philippines only days after Typhoon Kalmaegi devastated the country, killing 204 and leaving a trail destruction. It then slammed into Vietnam where it killed five more people and destroyed coastal communities. On Saturday, in the central Vietnamese fishing village of Vung Cheo, hundreds of lobster farms were washed or damaged. Fishing vessels were piled in wrecks on the main road. Reporting by Karen Lema, Additional reporting by Minh Nguyen, Thinh Nguyen (both in Vietnam) Editing by Rod Nickel
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FAA bans MD-11 flights after UPS jet crash
After a deadly crash of a UPS MD-11 freighter in Louisville, Kentucky, the U.S. Federal Aviation Administration issued an order on Saturday prohibiting MD-11 aircraft from flying until further inspection. At least 14 people were killed. UPS and FedEx have grounded their combined fleets of more than fifty McDonnell Douglas MD-11 freighters following a Boeing recommendation. The FAA stated that its emergency airworthiness instruction was prompted after the Tuesday crash in which the left motor and pylon separated from the aircraft during takeoff. The cause of detachment will be investigated. The U.S. regulator stated that "this condition could result in a loss of safe flight and landing". UPS stated that it was complying with the directive as it had grounded 26 MD-11 aircraft, which represents about 9% its fleet. Boeing announced on Saturday its support for the FAA's order. FAA Likely to Require Comprehensive Inspections Boeing acquired the MD-11 Program through its 1997 merger McDonnell Douglas. The FAA will likely require thorough engine and pylon checks before allowing planes to return to service. The U.S. National Transportation Safety Board leads the investigation into the crash at the airport of a 34-year old MD-11 freighter. The plane soared to about 100 feet (30 meters) before bursting into flames and destroying nearby businesses. As the plane rolled down the Louisville Airport runway, one of its three engines separated from the left wing. Safety investigators in the United States said on Friday that three UPS pilots tried to take control of the aircraft just before the crash. Reporting by David Shepardson, Washington DC; Allison Lampert, Montreal; Editing Sergio Non and Rod Nickel
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US airlines cancel 1,330 flights due to shutdown
U.S. Airlines canceled 1,330 flights in the United States on Saturday as part of the government-mandated flight cutbacks. The industry is bracing for further cancellations if the shutdown continues. Federal Aviation Administration has instructed airlines to reduce 4% of their daily flights at 40 major airports starting Friday due to safety concerns regarding air traffic control. Air traffic controllers are in short supply because they haven't been paid for several weeks. On Tuesday, the reductions will reach 6% before reaching 10% on November 14. Flights Delayd in at Least 12 Major Cities The FAA reported on Saturday that there were staffing problems at 25 airports, and other centers. This caused delays in flights at least in 12 major U.S. Cities, including Atlanta, Newark and Chicago. The FAA implemented ground delay programs on Saturday at several airports, with average delays of 337 minutes at Atlanta, the busiest U.S. Airport. On Saturday, 5,450 flights were cancelled and 7,000 delayed after Friday's 7,000 delays. Friday morning, at 6 a.m. ET (1100 GMT), the cuts began. About 700 flights were affected by the cuts on Friday morning (1100 GMT). These include flights operated by American Airlines, Delta Air Lines (Southwest Airlines), United Airlines and Southwest Airlines. On Saturday, these airlines cancelled roughly the same number flights. In an interview earlier this week, FAA Administrator Bryan Bedford stated that 20% to 40% controllers had not shown up for work in the last few days. During a U.S. Senate discussion on Friday, Ted Cruz blamed air traffic control issues on the shutdown. Cruz, a Texas Republican and chair of the Senate Commerce Committee said that since the start of the shutdown, more than 500 pilots had filed voluntary safety reports regarding mistakes made by air-traffic controllers due to fatigue. The record-breaking 39-day shutdown of the government has forced 13,000 air traffic control operators and 50,000 security screening workers to work without pay. This has led to an increase in absenteeism. On Thursday, many air traffic controllers learned that they wouldn't be paid for the second consecutive pay period in the coming week. Sean Duffy, the U.S. Transportation secretary, said he might require a 20% reduction in air traffic if controllers don't show up to work. Duffy said, "I evaluate the data." We're going make decisions based upon what we see on the airspace. Trump's administration has cited problems with air traffic control as Republicans attempt to pressure Senate Democrats into supporting what they refer to as a "clean" funding bill for the government without any strings attached. Democrats blame Republicans for refusing to negotiate on health insurance subsidies which will expire by the end of the year. (Reporting and editing by Thomas Derpinghaus, Rod Nickel, and David Shepardson)
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Minister: Hungary's exemption from US sanctions against Russia energy is permanent
Hungary claimed on Saturday that it had received an indefinite waiver of U.S. sanctions for the use of Russian oil and natural gas. However, a White House representative reaffirmed that this exemption was only valid for one year. Last month, U.S. president Donald Trump imposed sanctions related to Ukraine on Russian oil firms Lukoil & Rosneft. These sanctions carried the threat of additional sanctions against entities who buy oil from these firms. Viktor Orban met Trump, a Trump ally for many years, at the White House last Friday in order to push for a reprieve. Hungary heavily relies on Russian energy, and Orban faces an election in close proximity next year. The prime minister was very clear. Peter Szijjarto, Hungarian foreign minister, said on Facebook that he had agreed with President Obama to obtain an exemption from sanctions for all time. There are no sanctions indefinitely on the oil and gas exports to Hungary. In an email sent on Saturday, a White House official reiterated that the exemption was for a year. HUNGARY IS EXPECTED BUY U.S. LNG Officials added that Hungary will also diversify their energy purchases, and have committed to buy U.S. Liquefied Natural Gas with contracts worth around $600 million. Hungary's continued reliance on Russian Energy since the start of the conflict with Ukraine in 2022 has prompted criticism from several European Union allies and NATO members. Orban said that Hungary has received a permanent exemption from energy imports through the TurkStream pipeline and Druzhba pipeline. Orban said that there are no sanctions in place to restrict or increase the cost of supply for Hungary through these routes. Orban stated that this exemption was general and had no time limit. According to figures from the International Monetary Fund, Hungary purchased 74% of gas and 86% oil in 2024 from Russia. The IMF warns that a cutoff of Russian gas across all of Europe could cost Hungary over 4% of GDP. Orban stated that without the agreement energy costs would have soared, hitting the economy as a whole, increasing unemployment, and causing "unbearable price increases" for both households and businesses.
Tiny Chain Bridge is leading banker to Trump, Republican campaigns
When Republican projects want a. banker, they don't go to New york city or San Francisco, however to. downtown McLean, Virginia about a 20 minute drive from the. White House, where a onebranch bank next to an automobile service center. has actually beaten bigger monetary competitors to end up being a musthave partner. for political work.
Chain Bridge Bank, independently owned and with some 70. workers, has worked with the project of every Republican politician. Party governmental candidate because John McCain in 2008, consisting of. Donald Trump.
For nearly 20 years the bank established by former Republican. U.S. Senator Peter Fitzgerald has quietly developed its position by. dealing with politics, where large amounts shift at short notice and. bankers are constantly on call. Its company design, and the group it. serves, could deal with more examination after the bank stated in May it. was thinking about going public.
In the U.S., federal politics is a $20 billion dollar. industry and a number of financial institutions have appealed. and marketed themselves to these entities, said Daniel Weiner,. a director at the Brennan Center for Justice.
Part of it is that the environment is a little Wild West. but part of it is that it is a rather insular neighborhood, people. work by word of mouth.
examined project files filed with the Federal. Election Commission going back to 2007 and spoke to Chain. Bridge's management and customers before its preliminary public. using strategies were announced, to find out how it came to control. the market for Republican political campaigns.
As just recently as 2016, leading Republican governmental. contenders Ted Cruz and Marco Rubio banked at BB&T - a sprawling. North Carolina-based lending institution that was combined into Truist. Financial.
However in the 2024 election cycle, where Republican politicians have. currently raised over $1 billion, every major Republican. presidential candidate, consisting of former South Carolina Governor. Nikki Haley and Florida Governor Ron DeSantis, was a Chain. Bridge consumer.
The Republican National Committee, the celebration's primary. coordinating body, has been a customer because 2008, although it. likewise has accounts with Truist Financial.
The bank has been so effective due to the fact that it meets the oddball. requirements of political projects in such a way no competitor does,. according to Bradley Cage, treasurer for Trump's 2024 and 2020. campaigns and head of political consultancy Red Curve Solutions.
We don't have time to wait on people's lunch breaks, he. told . If there's an issue at a big bank, I'm not. going to have the ability to call the head of the bank to figure it out.
New accounts at Chain Bridge take minutes to open, even at. short notification. Dog crate, who has opened more than 1,200 accounts at. the bank for clients, as soon as established new accounts in 15 minutes on. a Sunday.
All huge depositors are designated a representative and Cage. has called his as late as 11:00 pm. If that does not work, he. likewise has the chairman's number.
The bank has actually likewise lent cash to projects. During Mitt. Romney's 2012 campaign the bank made a loan against contributions. which had actually been available in but could not be spent up until after the. Republican Politician National Convention, when Romney officially became. the party's candidate, according to Crate.
Projects hurrying to spend for last-minute advertisements or. events can rely on the bank processing transfers right up till. the Federal Reserve stops accepting requests at 6:45 pm.
When larger banks close their wire at 3:00 pm and someone. contacts us at 4:30 pm and they need payment for an occasion. tomorrow, we need to FedEx a check, which is silly, Cage stated.
Chain Bridge's political consumers extend beyond Republican politician. circles. The pro-Israel United Democracy Job super PAC. ( political action committee) and tobacco company Altria's. business PAC are customers, electoral filings reveal. The United States. Chamber of Commerce PAC is too.
The 2024 election project for Republican Mike Johnson added. Chain Bridge Bank to its documentation for the first time within. 3 weeks of his election as House speaker on Oct 25.
We're like Tesla, Fitzgerald, who is likewise Chain Bridge's. chairman, stated in an interview with in January,. referencing the electric vehicle maker that for many years eschewed. traditional marketing.
We have a marketing budget plan that's basically no and. we have actually grown by word of mouth.
GOOD FRIENDS WITH MCCAIN
Fitzgerald's own background in politics was essential to the. bank's development. A Republican politician from Illinois, he released the bank. in 2007, after retiring from the U.S. Senate 2 years previously. His seat was won by previous U.S. President Barack Obama.
Fitzgerald states Senator John McCain, who he called a close. good friend, became the bank's first significant political customer in 2008. when his campaign required a new bank after pulling money from. Wachovia, which was hit hard by the 2008 banking crisis.
They were really worried, Fitzgerald said. They switched to. us due to the fact that we had the cleanest balance sheet.
Electoral filings reveal Chain Bridge joined the McCain. project in April 2008 as one of 4 banks, including Wachovia.
Money has actually poured into politics since then, in large part due. to the 2010 Supreme Court People United decision which relaxed. rules around campaign finance.
Republican prospects for president and Congress raised $2.6. billion in 2020, according to the Federal Election Commission, a. two-thirds jump from 2016. Those figures do not include cash. raised by 3rd party groups like incredibly PACs.
Today, Chain Bridge wins a substantial portion of. political campaign work, according to Fitzgerald, although it is. no monopoly. Electoral filings show the Charles Koch-backed. Americans for Prosperity PAC, which backed Haley's project,. banked with Truist Financial.
Lobbying committees for oil giant Exxon Mobil and. Pfizer bank with Citibank and Bank of America,. respectively, while Google chooses Wells Fargo, according to. electoral filings.
Democrats also have a favored bank. Biden's campaign banks. with the partially union-owned and publicly-listed Amalgamated Bank. , as did Obama and 2016 governmental candidate Hillary. Clinton before him.
ROLLER COASTER BALANCE SHEET
Chain Bridge's balance sheet transfers to a political rhythm. Deposits rise through the election project duration and after that. crater as political leaders invest furiously in the ending up stretch. Deposits fell 21% after the November 2020 election. After the. mid terms in 2022 they dropped 25%.
Confronted with the equivalent of a little bank run every 2. years, Chain Bridge is a conservative lender. It has actually had no. non-performing loans in twelve years, according to its annual. report. Roughly 3 quarters of its $1.2 billion in possessions at. the end of 2023 were investment grade securities or money.
While it stays to be seen what sort of welcome the bank. will receive from the stock market, consumers will keep coming as. long as it preserves its client service culture, states Crate.
We have actually banked at larger banks - Bank of America, JP Morgan,. things of that nature - and we simply don't get the very same. experience, he said. It makes it actually difficult to go anywhere. else.
(source: Reuters)