Latest News
-
United Airlines returns flight due to engine failure
The Federal Aviation Administration reported that a United Airlines flight bound for Tokyo had to'return' to Dulles International Airport, in northern Virginia, on Saturday afternoon due an engine failure. United's spokesperson stated that the flight landed soon after takeoff because of the loss of power in one engine. The spokesperson reported that there were no injuries among the 275 passengers on board and the 15 crew. Social media X posted photos and videos of smoke?billowing near the runway. Dulles is the nearest international airport to Washington, D.C., located approximately 25 miles (40 kilometers) away. The FAA announced that it would investigate the incident that occurred on United Flight 803, involving a Boeing 777 200 aircraft. Sean Duffy, Secretary of Transportation, posted on X that a piece of the plane’s engine cover had separated and caught fire. This caused a brushfire on the ground. Metropolitan Washington Airports Authority confirmed that the fire had been extinguished. A spokesperson for United said that the flight will be rescheduled to later Saturday, on a different plane.
-
US: Belarus has agreed to stop balloon flights into Lithuania
John Coale, the envoy of U.S. president Donald Trump to Belarus, said that President Alexander Lukashenka had promised not to allow 'weather balloons' from his country to fly into Lithuania. Coale said in Vilnius after two days of discussions with Lukashenko, "He agreed to do everything that he can to stop the balloons." In the last few months, balloons?used by cigarette-smugglers? have forced over a dozen airport closures in Vilnius. Lithuania accused Belarus of facilitating smuggling and declared a state if emergency, asking the parliament to authorize military support to?police officers and border guards in order to combat the smugglers. Lukashenko stated on Tuesday that Lithuania is exaggerating its problem. "I think that the president is trying his best to calm things down. It will take time, but it is possible to resolve. Coale said that he wants a normal relationship with his neighbors, so he "assures" him. "I know Lithuania did everything they could to stop the recipients of the cigarettes, or whatever it was. "I think both sides are working", he said. Ursula von der Leyen, President of the European Commission, said that on December 1, the situation along the border had worsened. She called the balloon incursions by Belarus a hybrid attack that was "completely inacceptable". (Reporting by Andrius Sytas in Vilnius. Justyn Pawlak, Mark Potter and Justyn Pawlak edited the article.
-
Ukraine says Russian drone attack hit civilian Turkish vessel
Ukraine's Navy accused?Russia on Saturday of attacking a civilian Turkish vessel carrying sunflower oil to Egypt with a drone, just a day after Moscow attacked two Ukrainian ports. The navy released a statement via Telegram stating that the vessel was named the Viva, and it had 11 'Turkish Citizens on board. The navy added that no one was injured and the vessel continued its journey towards?Egypt. The statement accused Russia of violating maritime law. "The strike took place 'in the open sea in Ukraine’s exclusive economic zones, outside of the range of Ukrainian aircraft defence systems," it said. The Navy said that it was in contact with Captain of the ship. According to Ukraine's Navy, on Friday, Russia attacked two Ukrainian ports and damaged three Turkish-owned ships. One of these ships caught fire. The attacks come after Moscow had threatened to "cut Ukraine from the sea" following Kyiv's attacks that damaged three tankers of Kyiv's'shadow fleet,' which were heading to Russia for its oil export. Max Hunder reported the story. Mark Potter (Editing)
-
Spanish police arrest a drug gang using helicopters to fly drugs out of Morocco
Spanish police announced on Saturday that they had busted a criminal group using helicopters to smuggle Moroccan hashish in "a rare operation" against aerial drug trafficking. The Civil 'Guard spokesperson Gonzalo López said that the 'helicopters could carry up to 900 kg (1,100-2,050 pounds) of hashish, and then transport it by road into other parts of Europe. During raids conducted in the provinces Malaga, Almeria, and Murcia, police seized a helicopter, 657 kg hashish and five firearms. They also seized cash and vehicles. Six people were arrested in the operation that also included Moroccan, Belgian, and Swedish law enforcement agencies. It is rare that criminal gangs use helicopters to smuggle illegal drugs, but they do it occasionally. Police?sources said that helicopters were easy to detect, and difficult to purchase on the blackmarket. In the first half of this year, Spanish Police dismantled criminal groups who used drones for drug transport from Morocco to Spain. Spain's geographical position makes it an important?entry?point for hashish, mostly from Morocco, into Europe and cocaine, smuggled mainly from Latin America. Hashish is smuggled mainly by sea. Sometimes, it's done using jet-skis or high-speed launches. Six suspects were remanded on suspicion of drug trafficking and belonging to criminal organisations. They also possessed firearms. The Civil Guard has not stated when the operation called Giro took place. Reporting by Graham Keeley. Mark Potter edited the story.
-
Iran detains 18 crew of foreign tanker captured in Gulf of Oman
Iranian authorities arrested 18 crew members of an alleged smuggled fuel tanker that was seized by the Hormozgan Province judiciary on Friday. The captain of the tanker was among those who were detained as part of a?current investigation. The identity of the vessel and nationalities of the crew were not revealed. Authorities said that the tanker was in violation of multiple laws, including "not obeying stop orders (and) attempting to flee" and lacking navigational and cargo documentation. Iran has been fighting fuel smuggling on land and at sea by Gulf Arab countries. Reporting by Menna alaa Eldin and Dubai Newsroom, Editing by Jan Harvey
-
California files suit against Trump administration for terminating transportation grants
California says decision is arbitrary and threatens economy, safety Trump addresses concerns over non-English speaking truck drivers California drivers are less likely to be involved in fatal accidents than the national average By David Shepardson WASHINGTON (Dec 12) - California filed a lawsuit against the Trump administration on Friday night for the withholding of more than $33 millions in federal funding. The U.S. Transportation Department had said that California failed to comply with the rules requiring English language proficiency for truckers. In U.S. District Court, northern California, the state filed a lawsuit against Transportation Secretary Sean Duffy and the Transportation Department as well as the Federal Motor Carrier Safety Administration over the decision to end the grants for California’s commercial vehicle safety program announced in October. California has said that it enforces English language?standards? for commercial drivers which are compatible with federal requirements. The decision is "arbitrary, capricious and an abuse of discretion; and?contrary?to law; threatens the safety and economic damages of all Californians." The Trump administration took a number of steps in response to concerns regarding foreign truck drivers that do not speak English. ?In August Secretary of State Marco Rubio announced that the United States would immediately suspend the issuance all worker visas to commercial truck drivers. Requests for comments from the FMCSA and Transportation Department were not immediately responded to. The Transportation Department also threatened New York State on Friday to withdraw $73 million of funding over the issue of commercial driver's licenses issued improperly to non-U.S. Citizens. This is the latest threat from the Trump administration aimed at "Democratic-run" states. After a fatal accident in Florida and an audit by the government, the Transportation Department released emergency rules restricting commercial driver's licenses for non-U.S. nationals. Trump regularly threatens funding for large cities led by Democrats. This includes major infrastructure projects in Chicago, New York, and California. He also threatens to revoke commercial driver's licenses that are issued by Minnesota, New York, and California for non-U.S. citizens. The funds withheld by California are for roadside inspections and enforcement of traffic laws, safety audits on trucking companies, and public education campaigns. California reported that drivers with a California license are involved in 39% less fatal commercial vehicle crashes than the national average. The English proficiency standard for commercial drivers was already a long-standing U.S. Law. However, an April order by Trump reversed the 2016 guidance that inspectors shouldn't remove them from service if they only had a lack of English. In 2023, FMCSA reported that approximately 16% of U.S. drivers are born outside the United States.
-
Boeing's Air Force One, the new aircraft for the US President, has been delayed yet again
The U.S. Air Force announced 'on Friday that the delivery of the first of two new Air Force One aircraft from Boeing will be delayed another year, to mid-2028. This is the latest of a number of delays. The Air Force One program, which involves the conversion of two 747-8 aircraft into specialized jets with advanced communication and defense systems to serve as next generation U.S. Presidential air transport, would be four years behind schedule, with a delivery date in 2028. Boeing said it was making progress with the program. "Our main focus is to deliver two Air Force One aircraft that are exceptional for the country." Mid-February, Trump voiced his displeasure at?Boeing while excluding European rival Airbus. Elon Musk, Trump's adviser, "helped us a great deal" to navigate the delivery of the presidential jet. L3Harris Technologies, a defense contractor, was recently hired by the?government to refurbish a Boeing 747 that had been used as interim Air Force One. (Reporting and editing by Maju Samuel in Bengaluru, Abhinav Paramar in Bengaluru)
-
AFGE to challenge US decision invalidating union contract for 47,000 TSA officers
U.S. Homeland Security Secretary Kristi?Noem terminated on?Friday the collective bargaining agreements covering 47,000 Transportation Security Administration?officers?,?the department announced in a press release. The American Federation of Government Employees (AFGE), which represents airport screening officers at the airport, announced that it would challenge the decision. The Department of Homeland Security announced that it would implement a new labor framework starting on January 11, and no longer collect?union dues' from TSA officers. In June, an American judge issued a preliminary order blocking Noem’s?March 7, 2017 attempt to terminate the collective bargaining contract. The U.S. House of Representatives, on Thursday, voted to restore collective bargaining rights for about 1 million federal employees who are unionized, including TSA. This was in response to an executive order signed by President Donald Trump in March. The lawmakers said that Trump's executive order sought to repeal the collective bargaining rights of 67% federal workers. Federal workers are subject to significant labor rights limitations. They are not allowed to bargain over wages, benefits or job classifications, and they are also prohibited from striking. Everett Kelley, AFGE National President, said that Secretary Noem's decision ripping up the union contract of 47,000 TSA agents was an illegal act retaliatory to union-busting. TSA announced on Friday that the new labor framework will "return the agency to a security focused framework?that prioritizes workforce preparedness, resource allocation and a mission-focused focus while ensuring an effective stewardship taxpayer dollars." Trump forced the resignation of TSA Administrator David Pekoske on January 20. He had appointed him to his job in 2017, and Joe Biden reappointed him. Trump has yet to name a candidate to replace Pekoske. After nearly a full year of negotiations, the TSA and AFGE reached a seven-year labor agreement in May 2024. Biden's administration increased the scope of bargaining allowed in 2022 for TSA workers. As part of the deal, workers received enhanced shift-trade options, an increased allowance for uniforms, and parental bereavement and weather and safety leaves. Reporting by David Shepardson, Washington; editing by Aurora Ellis
Tariff turmoil subsides, allowing industrial giants to regain their footing
This year, industrial companies have experienced a rollercoaster ride as they have tried to adjust their trade policies to those of U.S. president Donald Trump. But this quarter, executives have suggested that confusion is receding, as the corporations have now had more time to adjust higher tariffs on U.S. imported foreign goods.
In contrast to the first half, heavy machinery, engine manufacturers and construction firms, which reflect the "real" economy, have been able to navigate the current environment by reducing costs and increasing prices in order offset the tariffs imposed by the Trump administration. Executives say that while there are many concerns for the coming quarters, they no longer feel as unpredictable.
Michael Larsen said, "Certainly from a cost perspective and perhaps from a supply standpoint, tariffs are not the kind of main event here" on an analyst call following the results last week.
According to an analysis of companies that reported between October 16th and October 31st, the estimated total hit to the global company's bottom line is about $7 billion. However, the markets are only halfway through the earnings season. This figure was between $16.2 billion and $17.9billion in the second quarter.
SOLID REVENUES GROWTH
LSEG data shows that U.S. Industrial companies are currently reporting the best revenue growth year-over-year since the first quarter 2023, at 6.3%.
Caterpillar, a manufacturer of heavy equipment, estimated that tariffs could cost it between $1.5 and $1.8 billion by 2025. After reporting a good quarter and a 12% rise in its shares, Caterpillar's results on October 29 narrowed this range to $1.6 to $1.75 Billion.
Joshua Schachter is the chief investment officer of Easterly Asset Management. He said that industrial companies, in general, are managing the uncertainty and changes to the tariff landscape pretty well.
UPS and FedEx, two of the world's largest logistics companies, have cut costs in order to compensate for the loss of duty-free status on low-value ecommerce shipments. UPS, however, has also drastically cut its payroll, dumping 48,000 jobs due to the continued pressures on its business in this year.
Analysts are concerned that the poor outlook for lower- and mid-income earners, which has affected consumer companies such as Newell, will spread to other sectors of the economy. The Trump administration also reached agreements with many nations to set import taxes between 15% and 20 % for some, after an earlier pause that left them at 10 %. This effect is not yet fully felt.
Angela Santos is a partner at ArentFox Schiff and the leader of the customs practice group. "We are only in October, and the reciprocal tariff increases started in August. So it hasn't taken that long."
EUROPEAN COMPANIES STILL FEELING THE HEAT
The high tariffs have made it harder for some European companies who rely on U.S. exports. Importers in the U.S. are less likely than ever to purchase their products.
SKF, a Swedish manufacturer of bearings considered a barometer for global manufacturing, anticipates a weak demand in the short term as customers are still hesitant because of tariffs and uncertainties. "If we get a little more calm and stable, I think that we will see the demand return," SKF's CEO Rickard Gstafson said on Wednesday.
HIAB, a Swedish manufacturer of construction equipment, said that since mid-February orders had been slowing due to trade tensions.
VDMA (German Engineering Federation), which represents 3,600 companies in the machinery and plant engineering sector, warned that new tariffs could affect more than half of German exports and European machinery if Washington adds more products to its list of steel and aluminum levies. Volkswagen and other European car manufacturers have been particularly hard hit, with Volkswagen reporting a $5.8 Billion tariff in its latest results.
Yale's Budget Lab has been tracking U.S. trade policy and says that the effective tariff rate was 18% at mid-October. This is the highest it has ever been in over 90 years.
On November 1, the Trump Administration will begin imposing new tariffs of 25% on imports of medium and heavy duty trucks, including 18-wheelers and dump trucks. A 10% tariff is also being imposed on buses imported from abroad.
Don Marleau said that the full impact of tariffs will not be felt until industrial companies go through their inventory.
In many cases, we haven't yet seen higher tariff costs. "We have higher estimates of tariff costs."
(source: Reuters)