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Russia strikes ports and bridges in an escalating strike on Ukraine's Odesa Region
Russian officials reported that Russia had attacked the port of Pivdennyi in southern Ukraine on Saturday. They said this as they intensified'strikes' along the Black Sea coast, including the energy facilities, and the route leading to the Moldovan border. After Moscow threatened to "cut off" fuel and foreign trade supplies to Ukraine, Russia launched a drone and missile attack against a region that is critical for the country's foreign commerce and fuel supply. Ukraine from the Sea Even as the U.S. continues its diplomatic efforts to end the war, airstrikes continue to escalate. U.S. negotiators are set to meet Russian officials in Florida On Saturday, the latest attempt was made to get a deal from Russia and Ukraine. Oleksiy Kuleba, Ukrainian Deputy Premier, said that Saturday's attack on Pivdennyi Port hit reservoirs. This was a day following a missile strike on the port, which killed eight people and wounded at least thirty. According to Ukrainian officials, on Thursday and Friday, Russian forces attacked a bridge near the village Mayaky in the estuary of the Dniester River, located northeast of Pivdennyi. The bridge is the main route to Moldova's western border crossings. "Without significant victory on the battle front, the enemy is attempting to terrorise civillians to create destabilisation within the country." Viktor Mykyta, deputy head of the presidential administration, said on Telegram that these?plans' are "clear" and we are actively countering them with Odesa residents. The Russian government has not commented on the attacks. Ukrainian authorities temporarily diverted passengers to other crossings into Moldova, including those by water. Mykyta stated that Ukraine would create as many alternate crossings as needed, "no mater how hard the enemy tried to destroy the link". One of the biggest Russian air strikes on the strategic Black Sea area last week damaged energy facilities and caused a blackout, putting hundreds of thousands into darkness for several days. In December, three vessels with Turkish flags were damaged by airstrikes in ports. Vladimir Putin, the Russian president, has threatened to block Ukraine's Black Sea access in retaliation to Kyiv's drone maritime attacks against Moscow's "shadow fleet" of anti-sanctions tankers. Ukraine claims that these vessels are used for transporting oil. This is the main source of revenue from Russia to fund its nearly four-year-old conflict. Full-scale invasion Its neighbour. Reporting by Yuliia Dsa, Editing by Alison Williams and Mark Heinrich
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Ukraine claims it has hit a Russian oil rig and patrol ship in the Caspian Sea
Ukraine has confirmed that its drones have struck a Lukoil oil rig in the Caspian Sea, as well as a military patrol ship near a Lukoil rig. This comes amid a new round of attacks by Kyiv on Moscow's oil infrastructure. The Ukrainian general staff confirmed that the attack took place on Friday. It is part of a series of strikes against Russian drilling infrastructure at the Caspian Sea in recent weeks. However, this was the first time the Ukrainian military acknowledged the incident. According to the Ukrainian military, the attack damaged a drilling platform on the Filanovsky Oil Rig. The rig was targeted by drones at least twice more in December. The report was not confirmed. Lukoil did not respond to a request for comment immediately. Ukraine claims that Russia's oil infrastructure is a "legitimate" target, as the revenue from trade is the main source of funding for Russia in its nearly four-year long "full-on conflict against the country." The general staff said that the strike also targeted a'military patrol vessel,' and the extent of damage is being assessed. Ukraine has been attacking Russian oil refineries since 2024, but in recent weeks has increased its attack, taking credit for drone attacks against Russian shadow fleet tankers on the Black Sea and Mediterranean. (Reporting and editing by William Mallard and Kirsten Donovan; Yuliia Dyesa)
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Boeing asks FAA for an emissions waiver in order to sell 35 more 777F freighters
Boeing has asked the Federal Aviation Administration to waive the airplane emission rules so that it can sell an additional 35 Boeing 777F Freighters. The company cited strong customer demand as well as a delay in the certification of the next-generation aircraft. The new rules will come into effect in 2028. Boeing stated that the next-generation Freighter 777-8, which is expected comply with the limitations, will not be available until after this date. Boeing stated that the waiver would enable it to meet customer demand before the 777-8F enters service. Boeing stated that it would seek approval by May 1. The company expects to deliver its first 777-8F about two years after delivering the 777-9 which is scheduled for 2027. In February 2024, under then-President Joe Biden's leadership, the FAA issued final rules adopting international standards for reducing carbon pollution by most large aircraft flying in U.S. Airspace. These rules do not apply to aircraft in service prior to that date. Boeing stated that large widebody cargo aircraft are essential to exporting goods. Boeing stated that of the $600 billion worth of goods exported via air cargo by 2024, over $260 billion was transported on large freighters. Boeing said that each 777F exported to a foreign customer contributed $440 million in catalog value to the positive trade balance. This means that over $15 billion of U.S. Export Value could be lost without an exemption. Boeing claimed that the 777F was the most fuel efficient airplane on the global freight market, and it is also the only large-widebody freighter currently in production. Congress passed a law last year that allowed Boeing to continue 'producing its 767 Freighter in the United States for five more years, until 2033, and exempted it from FAA efficiency regulations taking effect in 2020. The FAA stated last year that "civil aircraft are responsible for 9% domestic transportation emissions, and 2% total U.S. CO2 pollution." The U.S. announced a climate plan under Biden that aims to achieve zero greenhouse gas emissions in the U.S. Aviation sector by 2050. (Reporting and editing by Edmund Klamann in Washington, David Shepardson from Washington)
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Seven people were killed by Russian missiles that attacked port infrastructure near Odesa in Ukraine, according to the deputy prime minister.
Seven people were killed and 15 injured in a Russian missile strike on Friday night, late at night, against port infrastructure around the Black Sea port city of Odesa. Oleksiy Kuleba, Deputy Prime Minister Oleksiy Kuleba's Telegram post said: "Russia attacked port infrastructure in Odesa with ballistic missiles late at night." Oleh Kiper, regional governor of Kuleba-Odesa, said preliminary reports indicated that seven people were killed, and fifteen injured. According to a?source with knowledge of the matter, the attack took place at Pivdennyi - one of the three ports in the region. Odesa is a major exporter of Ukrainian grain, and has been the target of Russian attack since Russia invaded their?smaller neighbor in February 2022. In recent days, the intensity of?attacks has increased. One attack damaged a bridge southwest from?Odesa, cut off a major route connecting the city to?the Danube River Port of Reni, and complicated border crossings into Moldova and Romania. (Reporting and editing by David Gregorio; Oleksandr Kozohukhar, Ron Popeski)
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Trump Administration imposes restrictions to Mexican train crews working inside US
After inspections raised safety concerns about the English skills of some staff, the U.S. Transportation Department announced Friday it would place restrictions on Mexican train crews operating in the United States. Federal Railroad Administration of the Department sent letters to Union Pacific and Canadian Pacific Kansas City Limited on Friday after inspectors found that inbound crews appeared to be having difficulty understanding bulletins and communicating with inspectors safety requirements in English. The Department of Transportation?said that uncertified crews operating trains for the two railroads in the U.S. could not travel more than 10 miles from their entry point. They must also stop at the customs checkpoint and all interpreters must have safety certification. Both railroads did not comment immediately. Sean Duffy, Transportation Secretary, said that the FRA is addressing concerns about cross-border train drivers who lack basic English language skills. Duffy had previously tightened rules that required truck drivers to have a basic understanding of English and threatened withholding funding from the states if they did not comply. If you are operating a big rig weighing 80 tons or a freight train weighing a ton, you must be fluent in English. Duffy stated that if you don't speak English, you pose an unacceptable risk to your safety. These common sense steps will ensure that every train crew operator is able to communicate with inspectors and comprehend basic operational bulletins. The FRA warned the railroads that because "hazardous material documents and 'emergency response info are required to be maintained... in English, the ability of operating crews to understand these materials is critical". It also warned that incidents where crews were operating in the U.S. with a lack of sufficient English language understanding to perform their duties in a safe manner could lead to the Trump Administration taking enforcement actions. Teamsters union says USDOT has taken "decisive action" to limit cross-border railroad activities from Mexico. The union also praised USDOT for prioritizing safety of trains entering the United States and protecting union jobs in the railroad industry.
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US Army Corps of Engineers: Dakota Access pipeline should be operated as usual
The U.S. Army Corps of Engineers released a much-anticipated 'Environmental impact statement for the Dakota Access Pipeline on Friday. It recommended that the oil pipeline operations?continue... with some conditions. The EIS is a document that must be produced by the DAPL operator Energy Transfer to assess the environmental impact of federal actions. This represents a victory for Energy Transfer, and a significant step towards the end of a long-running court battle between Energy Transfer, the company, and the Native American tribes who are fighting to close the pipeline. The 'document' recommends that DAPL continue to operate, if safeguards such as groundwater monitoring and fish tissue residua analyses, water & sediment sampling as well as new leak detection technologies are implemented. In 2022, a U.S. Court ordered that the federal government conduct a more thorough EIS on the crude pipeline route of 1,800 km (1,100 miles). This was in response to the dispute between Energy Transfer, and tribes citing water quality concerns as the pipeline crosses Lake Oahe just half a mile from the Standing Rock Sioux Reservation. While the review was being conducted, the pipeline continued to operate. It is the largest oil pipeline coming from the Bakken oil basin and can transport 750,000 barrels per day of oil from North Dakota to Illinois. The USACE recommendation has not been implemented. (Reporting and editing by Paul Simao in Houston, Georgina McCartney from Houston)
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Italy sells digital payments unit PagoPA for up to 500 million euros to Poste, the state mint
The mint announced on Friday that Italy's Treasury had?agreed? to sell PagoPA (which handles digital payments to public administrations) to the state mint, and the Poste Italiane, backed by the Italian state, for up to 500 millions euros (586 million dollars). Italian banks have expressed concern about the deal in recent months because it could increase competition among smaller lenders who are already struggling to keep up with rapid changes in payments. The mint did not provide any further information. Sources have previously stated that lenders voiced their concerns to the Treasury about Poste using PagoPA?to bolster its position in digital payments where it has an already significant presence and competes directly with banks. The deal, which was struck to satisfy the concerns of the Italian antitrust authority and the banks, gives 51% ownership of PagoPA over to the mint. Poste, a Milan-listed company, will hold the remaining 49%. Apple, Alphabet-owned Google and PayPal are among the global players that have increased their competition with banks in terms of payments. Poste is now a financial conglomerate that has expanded beyond its core postal services into mobile services, energy, insurance, and investment products. PagoPA is expected to be a major player in Rome's 'plan' to create a digital wallet via the IO app. It allows users to store official documents including digital credentials and pay public entities.
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The new airline group formed by the Volaris and Viva merger will have lower fleet costs.
Executives from both companies said that the proposed merger?of Mexican low-cost carriers Volaris Aerobus and Viva Aerobus aims at putting the new 'airline group' in a stronger position to negotiate its most expensive costs, including acquiring & renting aircraft. Exclusively reported on Thursday, Volaris confirmed that the two airlines were close to an agreement. "Reducing aircraft ownership costs is a significant opportunity, as they are the biggest expense - even more than fuel," Viva's CEO Juan Carlos Zuazua told analysts in a conference call. He added that "major global carriers, such as Viva and Volaris, operate with up to 60% less ownership costs than their Latin American counterparts." Both airlines fly exclusively Airbus aircraft and have similar routes. The new group, Grupo 'Mas Vuelos', will trade under the Volaris brand and Viva as separate brands. This would make it Mexico's biggest domestic airline by far. Volaris shares jumped nearly 17% following the call, putting them on track to have their best day ever. According to the agreement, both companies will merge in a merger on equal terms. Volaris CEO Enrique Beltranena admitted that his carrier represented approximately 60% of the enterprise value, while Viva contributed 40%. Volaris had a higher net debt. He said that when you convert enterprise value to equity value the relative equity contributions are much closer. REGULATORY HUNDLES AHEAD Analysts pressed executives repeatedly on the regulatory process to clear the deal. The two Mexican carriers accounted for 69% of all passengers carried in the period from January to October. Aeromexico was the next largest airline, and is expected to be against this merger. Beltranena stated, "We are confident in the merits of the transaction." Beltranena said, "We prefer not to speculate right now on the outcomes or potential outcomes or conditions or remedies" stipulated the regulator. Mexico's government disbanded its independent anti-competition regulatory agency, Cofece. Its powers were transferred to a new organization controlled by the Economy Ministry.
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)