Latest News
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In Thailand, a freight train collision with a bus has resulted in at least eight deaths and 32 injuries
Rescue officials and the deputy transport minister reported that at least eight people died and 32 others were injured after a train struck a bus in Bangkok and ignited a fire. Officials said that firefighters and rescue crews responded to the incident as fires consumed the bus and vehicles nearby near the Airport Rail Link station in Makkasan. They added that the crash involved motorcycles and cars. According to preliminary reports, the bus was stopped "on the tracks" at a red signal, which prevented the crossing barriers from closing. Deputy Transport Minister,?Siripong, Angkasakulkiat, told reporters that the preliminary reports indicated the bus had been parked?on the track?, and therefore, prevented the crossing barriers from being closed. He added that the train, which was carrying containers, could not stop in time to prevent colliding with?the bus. Eight people died and 32 were injured. The wounded are being treated at various hospitals. "All eight of the dead were on that bus," he stated. Social media videos showed the train dragging several vehicles and the bus along the tracks. The bus was stuck in a red-light situation, and so couldn't move. Wanthong Kokpho said that cars were also "blocked" and could not move forward. The fire broke out immediately. The damage would have been worse if this was a normal workday. Officials said that rescue teams pulled injured victims out of the wreckage while fire crews battled with water hoses. They said that the fire had been brought under control and that crews were cooling down the area and venting gas while continuing to search for survivors. Authorities are investigating what caused the incident. According to the World Health Organization (WHO), Thailand's roads are among the deadliest in the world due to a lack of enforcement of safety standards. Reporting by Orathai Shriring, Panarat Thepgumpanat, and Tananchai K. Keawsowattana. Editing by Louise Heavens & Joe Bavier
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One dead in Comoros as clashes erupt over rising fuel prices
By Abdou Moustoifa MORONI, 16 May - Five people were injured and one person killed in clashes between protesters on the comorian island of Anjouan and security forces, as unrest over fuel price increases spreads throughout the archipelago. The prosecutor stated in a Saturday statement that the Public Prosecutor's Office of Mutsamudu informed the public about a tragic incident which occurred in Anjouan in the Mpage region, and resulted in the death of a person, as well as five other injuries. After a meeting with the mayor of Mirontsy, and the 'fishermen association' which had been on strike since Wednesday in protest at rising fuel prices, there were clashes. In Mutsamudu (the capital of Anjouan), roads were blocked by stones. A judicial investigation was opened to determine what caused the death. The unrest is a result of a wider strike that began on Monday, after the government increased gasoline and diesel prices by 46% each. Citing the "Middle East" conflict as the reason for the increase. The strike by transport workers and shopkeepers has paralysed the public transportation system in Moroni. According to the National Human?Rights?Commission,?39 people were detained since the beginning of the strike. In an effort to reduce tensions, the government announced "cuts" to official travel and a reduction of 40% in customs fees. (Reporting and editing by Abdou Moostifa)
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The rising cost of diesel fuel from the Iran war is straining US school budgets
The rising cost of diesel since the onset of 'the Iran war' is draining budgets already stretched by U.S. schools districts. It makes it expensive to transport students and run generators. Schools from Yakima Washington to Waco Texas are using emergency funds reserves to keep buses running. Interviews reveal that officials in remote Alaska are scrambling to secure enough fuel to run the lights. Trevor Greene, Superintendent of Yakima said: "It is more than a straw on a camel's...back. It's like a big haystack." The U.S. and Israeli war against Iran has had many knock-on effects, including the disruption of around one-fifth of world oil supplies. Fuel prices have risen at the fastest rate ever since the beginning of the war in late February. This spike has impacted economies all over the world. The spike has been so painful in the U.S. that it is a liability for Donald Trump in November's midterm elections, when the Republican Party is trying to hold onto a slim majority in the U.S. Congress. According to the American School Bus Council, U.S. bus operators consume more than 800 millions gallons of diesel per year. According to a new analysis by Samsara, a fleet management software provider, the cost to operate school buses in the United States has increased 67% since December. This is equivalent to an annual increase of $1.8 billion. James Rowan is the executive director of Association of School Business Officials International. He said that while districts can budget for higher costs in advance, the rapid swings in price make it difficult to do so accurately. "Even districts who have been able absorb costs through temporary measures or reserves this year may not have the same flexibility in the future." A survey of 188 U.S. School Districts, commissioned by AASA, and conducted in the week of May 4, revealed that close to a third are taking money from other funds to pay for their higher fuel costs. According to the survey results, school officials are looking for ways to cut costs. They consolidate bus routes, enforce anti-idling, change fuel buying practices, delay maintenance, and reduce administrative expenditure and staffing. "TREMENDOUSLY UNDERFUNDED" Yakima School district executives in Washington State said that the price of diesel they pay has recently increased by 64% on an annual basis to $6.30 per gallon. Greene said that at this price, the district's 60 buses would require an additional $213,000 in fuel costs per year. This is roughly equivalent to the salaries of two teachers. That is a big burden in an agriculture-dominated school district that has a poverty rate of 86%, and which is already "tremendously underfunded," he said. Jacob Kuper, district CFO, said that the district will instead buy its 30,000 gallon diesel tank in small quantities on days of low prices, rather than filling it. This is because it's "limping through the end" of the year. Christopher Mills of Thief River Falls Public Schools, in northwestern Minnesota said that diesel costs associated with transporting up to 800 students have increased around 30% since Iran's war began. Mills stated that the district was working to minimize direct impact on classrooms. "But if prices continue to rise, we may be forced to reduce support services for students." Even oil-rich Texas schools have not been spared. Waco Independent Schools District, which has over 80 buses, and average round-trip routes of 60 miles per day on average, reported an increase in diesel prices by 84% in early April. PRESSURE-PACKED Yupiit school district in Southwestern Alaska uses diesel generators to power the community and classrooms, not buses. Scott Ballard, Superintendent of the Yupiit District School Board in Akiachak, said during a phone interview that if they couldn't produce electricity then we wouldn't be able to run our school. The district, which has 550 students in it, is icebound most of the time, leaving a small window for fuel purchases. Ballard explained that leaders are now faced with a tough choice: Do they lock-in a price nearly 66% higher than the previous year, or do they gamble on prices falling? We're under a lot of pressure. Some of the biggest school districts in the United States are partially protected from fuel price fluctuations. Paul Quinn Mori is the president of the New York School Bus Contractors Association. He said that the district in New York City, which has the largest population in the country, outsources approximately 60%?of pupil transport. This arrangement often transfers fuel price changes from the district to the contractors. Los Angeles Unified, the second largest school district in the country, has been moving towards diesel-powered vehicles for many years. A district spokesperson revealed that 70% of its 1,300 bus fleet runs on batteries or alternative fuels. A spokesperson stated that "rising diesel prices continue impacting Los Angeles Unified’s transportation budget. However, the district has taken active steps to reduce dependence on fossil fuels by investing in clean transportation." (Reporting and editing by David Gregorio; Lisa Baertlein)
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In April, Iraq exported 10,000,000 barrels of crude oil through the Strait of Hormuz.
Basim Mohammed, Iraq's new Oil Minister, told a?press?conference on Saturday that the country exported 10 million barrels?of?oil via the Strait?of Hormuz?in?April. This is down?from 93 million barrels per month before the Iran War. Oil prices have risen sharply since the Iran war closed the 'Strait of Hormuz. Iraqi crude oil exports via the Kirkuk-Ceyhan pipeline resumed in march, after Baghdad agreed to restart the flow. Mohammed said: "We currently export 200,000 barrels via Ceyhan, but we plan to increase that to 500,000 barrels". Iraq 'plans to engage OPEC in order to boost its production - and export capacity. 'The minister stated that Baghdad aims at a?production capacity of 5 million _barrels a day.
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New York's Long Island rail strikes halt the busiest commuter route in US
A union statement said that about 3,500 workers from the New York Long Island Rail Road (LIRR), who failed to reach an agreement on wages, went on strike Saturday. This halted the busiest commuter train system in the United States. The Long Island Rail Road is operated and owned by the state’s Metropolitan Transportation Authority (MTA). It serves nearly 300,000 passengers per day. In a press release, the International Brotherhood of Teamsters union stated that a group of five unions had launched a strike. This was 'the first strike in 32 years. The union said that the workers went three years without receiving raises in the course of the bargaining. Mark Wallace, President of the Brotherhood of Locomotive Engineers & Trainmen, said: "This strike wouldn't have happened if MTA and LIRR had offered our members the terms that the government repeatedly recommended." We hope LIRR takes action soon to prevent further?disruptions of hundreds of thousands New Yorkers. When they are ready, they know where to find us: on the street. After the unions requested that he intervene, President Donald Trump signed an executive order in January to appoint another emergency?board for mediation to avoid a stoppage of work at the Long Island Rail Road. Trump had initially named a board to end the labor dispute in September of last year. (Reporting and editing by Tom Hogue in Bengaluru, Mihika Sharma, Shubham Kalya)
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Berkshire purchases Delta and Alphabet, while shedding Amazon, UnitedHealth Visa, Mastercard, and Visa
Berkshire Hathaway announced a $2.65 billion investment into Delta Air Lines on Friday, as well as a small stake in Macy's. It also said that it had sold many of its smaller stock holdings such Amazon.com and UnitedHealth Group. These changes were made as part of the portfolio reshuffle that took place in the first quarter following the promotion of Greg Abel, who succeeded Warren Buffett at Berkshire. Berkshire announced in a regulatory filing that they also tripled their stake in Alphabet (parent company of Google), which is now one of the largest investments in common stocks. Berkshire has also increased its stake in New York Times to 9%. The filing included a list of?Omaha-based Berkshire’s U.S. listed stock holdings at March 31. This represented?most? of the $288 billion equity portfolio. Berkshire purchased $15.94 billion in stocks and sold $24.09 Billion of them between January and March. Abel is likely to have been the one who directed the majority of stock sales. According to previous disclosures, Abel inherited the equity portfolio of Berkshire, including that of Todd Combs. Combs was a Buffett protégé who joined JPMorgan Chase in December. Abel stated in February that he managed 94% of Berkshire stock holdings while Ted Weschler, the investment manager, handled 6%. Berkshire held an 11% stake in Delta Airlines, but sold it along with similar percentage stakes in American Airlines, Southwest Airlines, and United Airlines early in the pandemic, in April 2020. Buffett stated at the time that the aviation industry had undergone a "world-wide change". Delta is considered to be one of the best-run U.S. large airlines. After-hours, its shares rose by 3.2%, likely reflecting the 'approval stamp' that investors perceive from Berkshire. The Atlanta-based carrier did not immediately respond to a comment request. Macy's stock also gained a boost after-hours, with a 5.9% increase following Berkshire's announcement of a stake in 3 million shares worth $55 millions.
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Carney announces Alberta Carbon Pricing Deal that could pave the way for new oil pipeline
Canada's Prime Minister Mark Carney and Alberta's premier on ?Friday signed a deal on industrial carbon pricing, ?part of a broader agreement meant to pave the way ?for ?construction of a 1-million-barrel-per-day crude oil pipeline to British Columbia's northwest coast to start by September 2027. Calgary's deal will raise the cost of carbon credits in Alberta's industrial market from C$95 to C$130 (94.59 USD) per metric ton in 2040. This is a measure to give oil companies a financial incentive for reducing pollution. It is unlikely that it will satisfy oil executives, who are concerned about the impact of any industrial carbon pricing on the industry, especially since the United States does not have a carbon price. Carney was in the city of oil and gas for the first time since November when he met with Alberta Premier Danielle Smith to discuss a plan to increase investment, including funding a new pipeline. Carney said that Canada's carbon markets and incentives to boost?low-carbon oil output will attract the private sector. He said, "I believe there will be a great deal of interest." U.S. COMPETITION WORRIES Alberta frozen its headline industrial carbon prices in May 2025. It cited the need to "keep its companies competitive" in light of the threat that President Donald Trump's Tariffs pose. Alberta's carbon credits trade between?C$20 to C$40 per metric ton. Environmental?experts claim that this is too low a price to encourage polluters into investing in technology to reduce emissions. The plan announced on Friday includes an escalating carbon floor price to ensure that Canada's major emitters are continually encouraged to reduce their emissions. Alberta's carbon price will increase from C$100 to C$130 per ton in 2020, then by 1.5% each year beginning in 2036. Environmentalists had called for a faster timeframe. Tim Weis is the director of industrial decarbonization for Pembina Institute. The 'deal' ensures that Alberta will raise its carbon price in time, as other provinces must do. This is a condition Carney had set before he would allow his government to fast-track a new crude oil export pipeline. For the first time, the agreement provides a start date for a new crude export pipeline if governments meet their legal obligation to consult Indigenous People. Alberta plans to submit a proposal to build a second West Coast oil pipeline by July 1, according to the province. HURDS REMAIN Carney and Alberta agreed that a new pipeline would be contingent upon the oil industry building an carbon capture and storage project. However, under the agreement, the project could be phased-in over time, and the resultant?emission reductions would be less than what the companies who originally proposed the proposal pledged to achieve in 2022. The Oil Sands Alliance, which is made up of Canada's largest oil sands companies, has refused to pay for the carbon capture project. The group said on Friday that it did not support changes to Alberta's carbon tax system. British Columbia, as well as any First Nations that might be affected by this route, would have to approve of the pipeline. B.C. Premier David Eby has said that his government will not allow the oil tanker ban to be lifted off the northwest coast of B.C.
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FAA reduces target for air traffic controller staffing
Federal Aviation Administration (FAA)?said on Friday that it would be reducing its target of?air traffic controller staffing. It also pledged to modernize the scheduling system and increase the amount of time employees spend managing traffic. The FAA announced that it has lowered its target to 12,563 certified air traffic controllers from 14,633. According to a National Academies of Sciences study published last year, overtime costs for air traffic control have increased by over 300% in the past two years, reaching more than $200 million. The report cited a misaligned workforce and an inefficient schedule. According to the report, 'the time controllers spent on managing air traffic from their positions has decreased despite a 4 percent increase in traffic. The report said that it was possible to increase the time spent on position per shift from four hours to more than five. The FAA stated that "modern staffing models and schedule tools will improve the efficiency of controller staffing and reduce the need for excessive overtime." As of April, the FAA reported that approximately 11,000 controllers were 'certified' and deployed in?more than 30 FAA air traffic control facilities. An additional 4,000 controllers were in training, including 1,000 controllers who had previously been fully certified but are now undergoing training at new facilities. The FAA stated that it will "modernize its scheduling and workforce management system to improve efficiency." In 2024, the FAA's air traffic control workforce will have logged 2.2 millions hours of overtime at a cost of $200 million. The average annual overtime for air traffic controllers has increased by 308%, or 126 hours since 2013. The report stated that from 2013 to 2023 the FAA only hired two-thirds the number of air traffic controllers required by their staffing models, as the staffing dropped by 13%. It also said the FAA has been unable to implement the robust shift scheduling software it purchased in 2012. This may have made the problem worse. In'many places, controllers are often required to work six-day weeks with mandatory overtime. FAA Administrator Bryan Bedford stated in December that the FAA had lost between 400 and 500 trainees who withdrew during last year's government shutdown. Reporting by David Shepardson, Editing by Chizu nomiyama
UK companies flag over $1.2 bln in labour costs from increase in national insurance coverage, wages
British business have flagged an boost of 973.5 million pounds ($ 1.23 billion) in labour expenses associated to an increase in employers' social security contributions and minimum incomes following Finance Minister Rachel Reeves' maiden budget in October.
They also expect the increase in National Insurance coverage Contributions (NIC) and the minimum salaries to fuel inflation.
Here's what some companies across sectors have stated so far:
RETAILERS
British merchant Pets in your home Group stated it anticipated expenses to increase by about 18 million pounds in fiscal 2026 due to increased NIC.
British bicycle and car items merchant
Halfords Group
projection its future costs to increase by around 23 million pounds in financial 2026 due to greater employer social security contributions.
Tile seller
Topps Tiles
stated it estimated a 4 million pound expense impact on a yearly basis from April 2025, out of which 2 million would impact the 2025 fiscal year.
Home enhancement merchant Kingfisher, which employs more than 78,000 individuals, stated the boost in NIC would cost it about 31 million pounds in fiscal 2025/26.
British grocery store chain Sainsbury's, which uses around 150,000 individuals, stated it was dealing with headwinds of 140 million pounds from the national insurance change.
Marks & & Spencer stated the national insurance boost would cost it around 60 million pounds in its next financial year, which begins in April. A 6.7% increase in minimum wage will add another 60 million pounds.
Asda, Britain's third-largest supermarket, stated the national insurance modification would cost it 100 million pounds next year and alerted it would most likely be inflationary to some degree.
Primark-owner Associated British Foods stated the national insurance coverage modification would cost the clothes merchant, which employs 40,000 individuals in the UK, 10s of millions of pounds, though the rise in the base pay was prepared for.
Cooking area and joinery retailer Howden Joinery said the anticipated annualised expense effect of higher contributions to companies' nationwide insurance coverage and the increase in the nationwide minimum wage was around 18 million pounds.
LOGISTICS
International Circulation Solutions, the owner of Royal Mail, which employs nearly 130,000 individuals in Britain, said changes to the NIC will cost around 120 million pounds a year.
TELECOM
BT, a company of more than 100,000 people, stated the NIC change would increase its expenses by close to 100 million pounds next year, about 0.5% of its total expense base.
PUBS & & RESTAURANTS Bar group Mitchells & Butlers flagged the NIC & modification to increase its expense to 23 million per year. It also stated the minimum wage walking would include another 42 million every year. JD Wetherspoon, a significant British
bar operator that utilizes more than 40,000 people, stated its annual expenses would boost by about 60 million pounds in 2025, with its NIC increasing by an estimated two-thirds. British pub group Young & Co's Brewery, which uses about 7,700 & people, cautioned that increasing NIC and minimum salaries will increase its yearly expenses by about 11 million pounds, starting April. HOMEBUILDERS Persimmon anticipates costs from a hike in nationwide insurance
to be about 5 million
pounds over the next year. Vistry also estimated a 5-million-pound effect in fiscal year 2025 from the boost in
company NIC. OUTSOURCERS Serco Group stated the UK federal government's nationwide insurance tax changes would increase its direct
labour expenses
by around 20 million pounds per year which it was checking out ways to balance out these costs. Mitie Group anticipates NIC-related costs to have to do with 60 million pounds, but the business approximates that it would be able to recuperate 35 million pounds of
those expenses through contractual healings and industrial settlements in financial 2026. SERVICE PROVIDERS Office providers Restore Plc which employs almost 2,700 people, stated it estimates about 3 million pounds in costs from the NIC change and base pay walking.
Veterinary providers CVS Group, which uses more than 8,800 people, stated it approximates an expense effect of about 8 million pounds in 2026 from the NIC modifications. British rail market services provider Tracsis likewise said the NIC modification and base pay boost are expected to effect 2025 core earnings by about 500,000 pounds. Legal and expert providers Knights Group stated it expects a yearly expense impact of about 2 million pounds in financial 2026 due to the NIC boost. Business healing and residential or commercial property services consultancy Begbies Traynor estimates the NIC modifications to
increase employment costs by about 1.25 million pounds per annum . British legal and professional services group Gateley stated it was anticipating the NIC changes to affect its expenses by about
1.8 million pounds in fiscal 2026. Equipment rental professional VP Plc stated it approximated the NIC and wage walkings would cost the group about 4 million pounds in the next financial year. Expert property companies Kinovo said it anticipated a cost of effect of about 500,000 pounds from the NIC and wage increase. CHEMICALS British chemicals maker Johnson Matthey said the effect of the boost
in UK employers' NIC on the group would be in about the mid-single digit millions. MAKER Genuit Group anticipates the NIC and minimum wage walkings to add almost 5
million pounds to its expense base in 2025. Structural steel company Severfield stated it estimates the NIC trek to
increase costs
by 2 million pounds per annum starting financial 2026. MEDIA COMPANY Media production company Zinc Media anticipates the NIC modifications to increase its expense base by about 400,000 pounds each year.
(source: Reuters)