German postal service raises stamp cost after losing prices row with regulator

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• German postal service raises stamp cost after losing prices row with regulator

  Logistics group DHL , which runs Germany's postal service, revealed a hike in the cost of a standard stamp on Wednesday, after failing to encourage regulators that it requires even more leeway on pricing to balanced out costs and fund investment. A basic stamp from Deutsche Post will cost 95 euro cents ($ 1.01) from Jan. 1, up from a previous 85 cents, the company said, after the federal network agency set brand-new prices guidelines for the years 2025 and 2026. The firm therefore allowed costs to increase, however not by as much as DHL had hoped. DHL said the rate hike was due to considerable cost increases caused by inflation, increasing earnings and an even more decrease in letter volumes, including that parcel prices would also boost in line with the guidelines.

• Xi asks Germany's Scholz to help resolve issue of EU tariffs on Chinese EVs

  Chinese President Xi Jinping told German Chancellor Olaf Scholz on Tuesday he hoped Germany could assist the EU and China to deal with the issue of tariffs on Chinese electrical cars as soon as possible, state tv CCTV reported. In talks on the sidelines of the Group of 20 top in Rio de Janeiro, Xi said China was prepared to work with Germany to combine a total strategic partnership, before raising the problem of EU tariffs on Chinese-made EVs, which has actually increased the prospects of a trade war in between Beijing and the bloc. It is hoped that Europe and China will resolve the issue of electric lorries through discussion and settlement as quickly as possible, and the German side wants to make active efforts in this regard, Xi stated, according to a readout from Chinese state news firm Xinhua. A German government spokesperson stated in a statement that Scholz's conference with Xi had actually lasted thirty minutes and that the chancellor had actually addressed geopolitical problems including the war in Ukraine and the Middle East. In particular, he warned of (the dangers of) escalation due to the implementation of North Korean troops, the declaration stated, referring to what the U.S. says is the deployment of 11,000 North Korean soldiers to eliminate for Russia versus Ukraine. Scholz also told Xi his recent phone call with Russian President Vladimir Putin on ending the war in Ukraine had shown sobering, the German statement included. Xi is on a South America trip that started with his involvement at the Asia-Pacific Economic Cooperation online forum in Lima, where he inaugurated a Chinese-funded Pacific port. After the conclusion of the G20 summit on Tuesday he will start a state see to Brasilia, where he is expected to meet with Brazil's President Luiz Inacio Lula da Silva and indication several cooperation contracts.

• UK regulator to begin thorough probe into GXO's $962 mln Wincanton deal

  Britain's competitors regulator stated on Thursday it referred GXO Logistics' acquisition of UK peer Wincanton to an indepth investigation after the U.S.based warehousing firm did not present remedies for competitors concerns. CONTEXT GXO outbid CEVA, a system of French shipping firm CMA CGM, to purchase the British logistics company for 762 million pounds ($ 962.3. million) in March to broaden into the UK's aerospace, utilities,. commercial, and health care sectors. Wincanton operates in the UK and Ireland and offers supply. chain services to services across sectors. It counts IKEA,. Primark, and BAE Systems among its customers. GXO runs in practically 30 nations from about 970 storage facility. areas and has a large exposure to the aerospace and defence. sectors in the U.S. WHY IT is essential. The Competition and Markets Authority (CMA) on Nov. 1 stated the. acquisition could reduce competition and raise prices for. customers. The CMA, which released its investigation in early. September, included that both companies contend closely,. especially for contracts with big retail clients. An independent panel of professionals from the regulator will now. engage further with the business to identify therapeutic procedures. that can please its competitors issues. The CMA can block the transaction if the actions taken by the. companies are discovered unacceptable. The regulator has set April 30. as the statutory due date for the probe.

• Ainslie gives Fletcher the British SailGP team helm

  Ben Ainslie chose Dylan Fletcher as the British skipper for SailGP’s fifth season. The league’s Canadian team will begin in Dubai just a little over a week. Fletcher fills the void left by Giles Scott who joined the Canadian team. Fletcher is back at SailGP, this time as the 'driver' for the team that Ainslie owns and runs. Ainslie also selected the 36-year old as his cohelm last month when Britain's attempt to win the America's Cup away from New Zealand ended in failure. "This was the team I wanted be a part of. I think there's potential here, with the F50 and the America's Cup. Fletcher stated that he wanted to build everything together. The British 49er Olympic gold-medal winner from Tokyo, who was the helmsman of the British high-speed foiling catamarans in SailGP’s first season, said that it would be much more difficult with its expansion to 12 teams and 14 events. Fletcher, who missed three seasons of racing in the F50 simulator, said this during an interview just before flying to Dubai to train for pre-race. He said that he has a winning team, but it is also about him and his ability to learn, as well as get started with a job well done. He added that he gained a great deal of knowledge during the America's Cup with Ainslie. Fletcher noted that Ainslie, 47, had a "feel" for his boat. He added that at first it felt strange competing with the sailor he asked as a teen to sign his life jacket. He said that his America's Cup lesson was to trust your instinct, no matter what boat you are on or how you feel. It's the same basic instinct. 'INCREDIBLE' Fletcher said that he is looking forward to competing against Hannah Mills who he knows from their time as teenagers in the British Olympic sailing team. He added that they have developed similar communication styles. "I hope our relationship works well and that we can make the most of each other," said Mills, who added that it was important for him to spend time "on the road". Ainslie stated that Mills was a "standout candidate" for the driver's role. The team is supporting Mills' ambition to drive an F50 which can reach speeds of up to 100 kilometers per hour. Mills' British crew finished second to Italy last month in the first America's Cup women's race. Other returning SailGP crew members include flight controller Luke Parkinson and wing trimmer Iain Jensen, as well as grinders Neil Hunter and Nick Hutton. Kai Hockley is a newcomer, having been a member of the SailGP shore teams and America's Cup shore team in Britain for nine months. Hockley (18) will combine his role as a development engineer with the goal of racing in an F50. SailGP announced that Emirates, who already sponsor the British team, would become the league’s official global airline and title sponsor of an event which will be held at Portsmouth, England's south coast, from July 19-20 in 2025. It's going be amazing. Fletcher expressed his excitement at the prospect of racing in front of his home crowd. "I can't wait and I hope we have good weather," he said. (Reporting and editing by Toby Davis; Alexander Smith)

• China showcases its latest military hardware, and ambitions, at Zhuhai

  The Chinese military hardware on display at the country's biggest air program in Zhuhai highlights its ambitions, and in some cases might reveal developments in ability, professionals state. Amongst the systems showcased were the latest variant of China's J-35A stealth fighter, its bigger J-20 stealth fighter, a stealthy drone designated the CH-7 and the HQ-19 air defence system. There was likewise an electronic warfare variation of the J-15 naval fighter, in addition to dozens of different munitions. China is not seeking to display its power at the air program, however, the state-controlled International Times said in an editorial. Rather, it intends to prove that it has both the capability to protect its national sovereignty and territorial integrity and the commitment to peace-based advancement, it added. The Aerospace CH UAV Co Ltd CH-7, which was first shown at Zhuhai in 2018, is an intriguing aircraft considering that the current version can be used for different kinds of maritime missions, the Global Times stated in a different article. The intelligence, security and reconnaissance (ISR). info a sneaky drone can supply is seen as essential to. modern warfare, especially to direct the cruise and ballistic. rockets that form a big chunk of China's arsenal. In theory such a platform could undertake maritime. surveillance of U.S. Navy activities, including tracking their. aircraft carriers, and potentially targeting them with indirect. fires from IRBMs such as the DF-26, said Malcolm Davis, a. senior expert at the Australian Strategic Policy Institute. The aircraft also has implications for Taiwan, which China. claims as its own, in spite of the strong objections of the. government in Taipei. On the radar it will look like a really little dot, stated Shu. Hsiao-Huang, a research fellow at Taiwanese defence thinktank. INDSR. It is set to posture a very big obstacle to Taiwan's air. defence surveillance capacity. On the ground, China flaunted the YLC-2E radar and HQ-19. ballistic rocket defence system, both created to keep enemy. risks out of the sky. Couple of information are public of the radar system, just a design of. which showed at the air program. The Global Times says it tracks. stealthy targets utilizing S-band radio waves, a common set of. frequencies and wavelengths used for whatever from air traffic. control radar to Wi-Fi. The HQ-19's distinguishing function is that it is developed to. destroy both standard ballistic rockets and hypersonic. move lorries that can manoeuvre in flight. Little is known. about the sensors directing the missiles or their varieties. However the successes of missile defences in other places on the planet. make fielding such a system crucial to a contemporary armed force,. specialists say. The HQ-19 is a THAAD and the J-15 EW (electronic warfare. version) is a Growler, so both can be seen as staying up to date with. the U.S., said Peter Layton, a defence and aviation professional at. the Griffith Asia Institute, referring to the U.S. missile. defence system and the EA-18G electronic warfare airplane. Layton added that a mockup of a two-seat AVIC J-20 on. display screen likewise revealed aspirations for a step forward, amidst reports. that it might be utilized to control fight uncrewed aerial. automobiles. On the industrial side of the air show, Brazilian planemaker. Embraer stated on Wednesday it prepared to concentrate on. reinforcing its supply chain, including Chinese business. Embraer is the world's third-largest planemaker and focuses. on as much as 150-seat single-aisle local and executive aircraft,. sitting simply below Jet' and Boeing's. very popular A320 and 737 households and measuring up to the Plane. A220. At Zhuhai, Embraer's chief commercial officer, Martyn. Holmes, said China's President Xi Jinping was would soon go to. Brazil, where the G20 top is to be held this month. I think it's an interesting minute for us to be having that.

• Financial Times - Nov. 13

  The following are the top stories in the Financial Times. Reuters has actually not verified these stories and does not attest their accuracy. Headlines - UK Post Workplace to close 115 branches, putting numerous tasks at threat - BBVA bid for Sabadell dealt blow by antitrust watchdog - Underperforming NHS medical facilities to be outed in league tables - Fortress seizes control of art house cinema chain Curzon - Reeves looks for reform of UK consumer redress in the monetary services sector Introduction - The Post Office will close more than 100 branches, putting hundreds of jobs at threat, as the state-owned UK company looks for to put itself on a sounder monetary footing following an IT scandal. - Spanish bank BBVA has actually suffered an obstacle in its 11 billion euros ($ 11.69 billion) hostile bid for regional rival Sabadell as the country's antitrust regulator announced it would subject the deal to a more rigorous competitors review. - Underperforming NHS hospitals will be openly shamed in league tables and failing health managers will be sacked, UK health secretary Wes Streeting will caution in a speech to sector leaders on Wednesday. - Fortress Financial investment Group has actually seized control of British art house movie theater chain Curzon after pursuing a legal project to auction off the assets of a struggling US property billionaire. - Chancellor Rachel Reeves will on Thursday call for an overhaul of the UK system for customer redress in the financial services sector, as lenders brace for a potential multibillion pound bill for alleged mis-selling of cars and truck finance.

• Iceland volcano emerges for the tenth time in 3 years

  A volcano near Iceland's. capital erupted late on Wednesday for the tenth time in three. years, gushing fountains of lava and smoke, the nation's. meteorological workplace said. Iceland, with nearly 400,000 inhabitants, lies on the. fault line between the Eurasian and North American tectonic. plates, making it a seismic hotspot with geysers, warm-water. springs and dozens of volcanoes. As magma accumulated underground, authorities had actually alerted of. imminent volcanic activity on the Reykjanes peninsula, some 30. km (20 miles) south-west of the capital Reykjavik, where the. latest eruption ended just on Sept. 6. The outbreaks on the Reykjanes peninsula, called fissure. eruptions, have not directly affected the capital city and do. not trigger significant dispersal of ash into the stratosphere,. preventing air traffic interruption. Lying inactive for 800 years, the geological systems in the. location reactivated in 2021 and have given that erupted at rising. frequency, with the most recent outbreak being the sixth so far in. 2024. The nearby fishing town of Grindavik, home to almost 4,000. homeowners before an evacuation order in December last year,. remains mostly deserted due to the regular danger from lava. flows. Icelandic authorities have set up barriers to divert the. streams of molten rock far from the town, along with from. infrastructure such as a close-by power station and heaven. Lagoon, a medical spa facility with hotels and large natural pools. Researchers have cautioned that Reykjanes is likely to. experience duplicated volcanic break outs for years, perhaps. even centuries. The eruptions are not anticipated, nevertheless, to cause the level. of disruption seen when the Eyjafjallajokull volcano burst in. 2010, spreading out ash clouds throughout Europe and grounding some. 100,000 flights globally.

• Italy acts versus 'wild' e-scooters after increase in accidents

  Italy's parliament authorized a. bill on Wednesday that will need escooter riders to use. helmets and be insured, while likewise presenting harder fines for. rogue parking as part of a wider overhaul of the highway code. The Senate offered last approval to the law with a 83-47 vote. Like in other European countries, e-scooter usage has actually surged. in Italy over the last few years. But the boom has also brought an increase. in mishaps and problems from drivers and pedestrians about. riders flouting safety and parking rules. No more wild scooters, Transport Minister Matteo Salvini. stated in a social media post, including that e-scooters will also be. needed to have license plates and be banned from cycle lanes,. pedestrian areas and non-urban roads. National data institute ISTAT said in July that road. accidents with injuries including e-scooters rose to 3,365 in. 2023, with 21 deaths, up from 2,929 injuries and 16 deaths in. 2022. Other countries in Europe have likewise restricted e-scooter. usage. In 2015, French capital Paris prohibited leased two-wheeled. electric vehicles following a referendum, and Madrid chose in. September to prohibit them also. Supporters of e-scooters, which in cities like Rome and Milan. are popular with residents and travelers, state they provide a. zero-pollution and low-cost option to public transport or. other mobility alternatives. E-scooter rental companies criticised the constraints as. overly punitive, pointing out that their vehicles go through. speed limitations and are geo-localised, reducing dangers of. abuse. They have a technology that prevents particular bad behaviours. that are the source of the most serious mishaps, Andrea. Giaretta, Vice President for Southern and Western Europe, Middle. East at Dott, informed Reuters. Giorgio Cappiello, head of institutional relations in Italy. for Bird, another rental business, called the brand-new guidelines. completely ideological and said his company reported no. casualties on their automobiles in 2022 and 2023. The modified highway code likewise includes stiffer penalties for. driving under the impact of alcohol or drugs, along with a. jail regard to approximately 7 years for those who abandon animals on the. road, causing accidents. Salvini, who is likewise deputy prime minister and leader of the. hard-right League party, stated the changes were prepared after. wide assessments with a common goal: decrease the carnage on. Italian roadways..

• Argentina's YPF to look for $2 billion in funding for oil pipeline in Q2 2025

  Argentina's staterun oil company YPF will seek $2 billion in funding in the 2nd quarter of 2025 to complete its Vaca Muerta Sur job, a company source stated on Wednesday. The project is being performed by Vaca Muerta Oil Sur ( VMOS), which is managed by YPF, and intends to carry an additional 390,000 barrels daily from the Vaca Muerta development to a coastal export terminal in Rio Negro province. The source said that the company is seeking $1.5 billion from foreign investors and $500 million in your area and wishing to add Pampa Energy, Vista, Shell, Chevron and Pan American Energy as partners. This pipeline will permit more than double the oil evacuation capacity out of Vaca Muerta, YPF CEO Horacio Marin said at an interview in Buenos Aires on Wednesday. The VMOS task will make Argentina one of the primary exporters in the area, he included. The business is seeking financing for 70% of the task, which will amount to around $3 billion, the source stated. The rest will be financed with equity from the companies that get capability on the pipeline.

• Italy to implement helmets, insurance coverage for e-scooter riders after mishaps

  Italy's parliament on Wednesday authorized an expense that will need escooter riders to wear helmets and be insured, while also presenting tougher fines for rogue parking as part of a broader overhaul of the highway code. Like in other European nations, e-scooter usage has risen in Italy over the last few years. But the boom has actually also brought an increase in mishaps and complaints from motorists and pedestrians about riders flouting security and parking rules. No more wild scooters, Transportation Minister Matteo Salvini said in a social networks post, including that e-scooter users will likewise be needed to get license plates and be banned from cycle lanes, pedestrianised areas and non-urban roads. National stats institute ISTAT stated in July that road accidents with injuries including e-scooters rose to 3,365 in 2023, with 21 deaths, up from 2,929 injuries and 16 deaths in 2022. Other nations in Europe have likewise limited e-scooter use. In 2015, the French capital Paris banned rented two-wheeled electric automobiles following a referendum, while Madrid withdrew their licences in September. Italy's Senate gave final approval to the brand-new highway code in a 83-47 vote. The reform includes stiffer penalties for drink-driving or the use of drugs, and a jail regard to as much as 7 years for those who abandon animals on the roadway, resulting in mishaps. Salvini, who is likewise deputy prime minister and leader of the hard-right League celebration, stated the brand-new rules were prepared after broad assessments with a typical goal: lower the carnage on Italian roads. Supporters of e-scooters, which in cities like Rome and Milan are popular with residents and travelers, state they supply a. zero-pollution and low-cost alternative to public transport or. other movement choices. Giorgio Cappiello, the head of institutional relations in. Italy for rental business Bird, stated the reform was totally. ideological and companies had reported no casualties on their. vehicles in 2022 and 2023.

• Nigeria's NNPC uses Port Harcourt fuel oil in tender

  Nigerian stateowned oil company NNPC Ltd has actually issued a tender to export a fuel oil cargo from its mothballed Port Harcourt oil refinery, the current action towards resuming operations at the plant, an authorities said on Wednesday. NNPC anticipates to settle the tender for a single 15,000-ton fuel oil cargo on Thursday, packing in the first week of December, NNPC Trading's managing director Lawal Sade told Reuters. The tender comes after the plant started getting crude oil for trial run in early 2024, as the refinery, which has actually a. optimal crude processing capability of 210,000 bpd, was closed down. five years back. NNPC stated it requires to leave the fuel oil from the Port. Harcourt system following the trial run, Sade said, as efforts. to revamp the plant progress.

• Greece arrests Algerian presumed of smuggling discomfort relief drug to France

  Greek authorities jailed an Algerian man suspected of smuggling tablets of painfighting drug pregabalin to France from Greece, following an operation with French authorities and EU police company Europol. The 28-year-old acquired drugs including pregabalin from pharmacies in Greece and delivered them to Paris and other French cities over the previous 3 years, police stated on Wednesday. The anti-seizure drug is used to deal with epilepsy and stress and anxiety and can cause relaxation and ecstasy. The guy was detained in Athens this week as he was trying to send out a package of more than 3,300 of the tablets, a cops declaration stated. A minimum of 55 such drug deliveries have been verified because 2021, an authorities official said. French cops also arrested a man declared to be the receiver of the plans, the authorities added. In March, the Greek coast guard seized a. British-flagged boat filled with nearly 4 million pregabalin. tablets, after a tip-off from Greece's intelligence service. about drug-smuggling rings running in the nation.