Latest News
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Bloomberg News reports that Brookfield and GIC are close to a binding offer for National Storage.
Bloomberg News, citing sources familiar with the situation, reported Sunday that Brookfield Asset Management (BAM) and Singapore's GIC were close to making a binding bid for National Storage REIT. The deal could value the Sydney listed company at around 4 billion Australian Dollars ($2.65 billion). The report stated that the parties were finalizing the details of the deal, which could be announced as early as Monday. Brookfield and GIC had also made good progress in their due diligence process on National Storage. The report states that the price for the binding offer will likely be the same in November as the conditional offer. Could not verify immediately the report. National Storage REIT announced last month that it received an A$4.02 Billion buyout offer by a consortium consisting of Brookfield, Singapore's GIC and other companies. This would have been the largest real estate privatisation in Australia. ($1 = 1,5067 Australian Dollars) (Reporting and editing by Andrea Ricci in Bengaluru)
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Canada's Air Transat suspends flights after pilots union strikes notice
Transat AT, a Canada-listed tour operator, announced on Sunday that Air Transat, Canada, will suspend its flights from December 8 to 9 after receiving a 72-hour notice of strike by ALPA, the union which represents the 700 pilots at the company. Air Transat's pilots may begin their strike as early at 3:00 am. Air Line Pilots Association said that the strike would begin at 3:00 AM ET on December 10. The Canadian leisure carrier deemed the strike announcement "premature", given the progress made at the bargaining tables. It said that it had offered compromises including a salary increase of 59% over five years, and improved working conditions. Bradley Small, Chair of the Air Transat Master Executive Council, said: "There's still time to avoid striking, but unless there are significant improvements at the bargaining tables, we may strike to get a modern contract." Transat AT reported that Air Transat was working with the union in order to avoid a strike, but it will stop all operations on December 9th to ensure passengers and crews are not left stranded. Transat AT Inc. offers Air Transat as a brand. Reporting by Abu Sultan in Bengaluru and Shivani Tana; editing by Andrea Ricci
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American Airlines asks for notices regarding the bankruptcy of Spirit Airlines
According to a court document, American Airlines has filed an appearance notice in the bankruptcy proceedings of Spirit Aviation and requested that all notices and documents be served going forward. Spirit filed for bankruptcy a second-time in August as it struggled to deal with its dwindling reserves of cash and increasing losses. The airline stated that it was looking at all possible options in its restructuring, including a merger and sale of the business. American Airlines filed a request in the Southern District Court of New York on December 5, requesting to receive all notices, including operating reports and plans of reorganization, as well as liquidation statements. Spirit and American didn't immediately respond to a comment request. Spirit Airlines has previously stated that they are considering all options to ensure the future of their airline. Spirit actively explores all possible opportunities. The merger or sale of Spirit could maximize value. Spirit stated in a SEC filing in October that the company was actively involved in discussions with several interested counterparties. The U.S. Supreme Court earlier this year rejected a request from American Airlines to overturn a judicial ruling that found the company's scrapped U.S. Northeast Partnership with JetBlue Airways in violation of federal antitrust laws. JetBlue and United Airlines have partnered in a partnership since then. You can also Both airlines' websites allow travelers to book flights. Spirit Airlines urged the U.S. Transportation Department in June to reject the collaboration of United and JetBlue. Spirit Airlines said it was anti-competitive and that other large airlines would pursue similar deals. Reporting by Doyinsola Oladipo in New York, editing by Andrea Ricci
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American Airlines asks for notices regarding the bankruptcy of Spirit Airlines
According to a court document, American Airlines has filed an appearance notice in the bankruptcy proceedings of Spirit Aviation and requested that all notices and documents be served going forward. Spirit filed for bankruptcy a second-time in August as it struggled to deal with its dwindling reserves of cash and increasing losses. The airline stated that it was looking at all possible options, including a merger and sale of the business. American Airlines filed a request in the Southern District Court of New York on December 5, requesting to receive all notices, including operating reports and plans of reorganization, as well as liquidation statements. Spirit and American didn't immediately respond to a comment request. Spirit Airlines has previously stated that they are considering all options to ensure the future of their airline. Spirit actively explores all possible opportunities. The merger or sale of Spirit could maximize value. Spirit stated in a SEC filing in October that it was actively in talks with several interested counterparties. (Reporting from Doyinsola Oladipo in New York, editing by Andrea Ricci.)
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Southwest Airlines fined $11 million by the US for holiday meltdown in 2022
The Trump Administration announced Saturday that it would waive a $11 million fine on Southwest Airlines, as part of the $140 million settlement for the airline's meltdown during a busy travel season in December 2022. Southwest Airlines in December 2023 will pay $35 million in cash and $90 million worth of travel vouchers for passengers who are delayed by at least 3 hours in reaching their final destination due to an airline issue or cancellation. This is because the airline handled the meltdown which stranded over 2 million passengers. In a written order, the U.S. Transportation Department cited Southwest Airlines' decision to invest more than $1 billion into its operations since the 2022 crash to improve performance and reliability as the reason for its decision to waive the remaining $11 millions of the fine due by January 31. Reporting by David Shepardson, Editing by Chizu nomiyama
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Merz and Macron to discuss fate FCAS fighter jet in the week of December 15, says industry source
A source in the industry said that the German Chancellor Friedrich Merz, and the French President Emmanuel Macron plan to discuss the fate the troubled Franco German fighter jet project FCAS – or SCAF – during the week of December 15. The Future Combat Air System (FCAS), a 100 billion-euro ($116-billion) project that was floated over eight years ago, is mired in disputes among the companies concerned about workshare and prized technologies. A source with knowledge of the project said earlier this week that the defence ministers from the participating countries, Germany, France, and Spain, will meet on the 11th to discuss it. The German government spokesperson refused to comment on the exact date but only said that the appointments made by the chancellor will be made public at the appropriate time. The French government did not respond to a request for comment. The French government was not immediately available for comment.
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Bloomberg News reports that Indian and US investigators will meet next week to discuss the Air India crash.
Bloomberg News reported that India would send investigators next week to the United States to review data collected on the fatal Air India crash in June, with the National Transportation Safety Board. The report cited people with knowledge of the situation as saying that Indian investigators planned to share their findings, which included any information they gleaned from cockpit voice and flight recorders. Could not verify immediately the report. The report stated that the meeting would take place at the NTSB headquarters in Washington D.C. Other parties, including Boeing representatives, will also be present. Boeing referred all comments to the Aircraft Accident Investigation Bureau. NTSB, India’s civil aviation ministry, and the AAIB didn't immediately respond to requests for comments. Shortly after takeoff, the Boeing 787 Dreamliner departing from Ahmedabad in India and heading to London began to lose thrust. The 242 passengers and 19 people on the ground were all killed, except for one. (Reporting and editing by Aidan Lewis, Aurora Ellis and Yazhini MV from Bengaluru)
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IAEA: Ukraine's Zaporizhzhia Nuclear Plant temporarily lost electricity overnight
The International Atomic Energy Agency reported on Saturday that Ukraine's Zaporizhzhia Nuclear Power Plant temporarily lost all of its off-site electricity overnight. It cited Director General Rafael Mariano Grossi. Since March 2022 when Russian forces seized much of the southeast Ukraine, this nuclear plant - Europe's biggest - has been under Russian authority. The plant is currently not producing electricity, but it relies on external power in order to keep the material cool and prevent a meltdown. IAEA reported that the plant had been reconnected after a 30-minute outage to a power line of 330 kilovolts (kV). The Russian-installed plant management said that the 750 kV power line, which was also previously disconnected, was now back in operation. Stable power supply was restored, they added. The management stated that radiation levels were normal. IAEA said that widespread military activities over night affected Ukraine's power grid, and caused operating nuclear power plants to reduce their output. Reporting by Gnaneshwarrajan and Yazhini MV in Bengaluru, Editing by Aidan Lewis & Bernadettebaum
Israel and Hezbollah launch new attacks after lethal day in Lebanon
Israel struck Hezbollah targets in southern Lebanon and the Iranbacked group assaulted military centers in northern Israel on Tuesday, increasing worries of a fullblown conflict after Lebanon suffered its most dangerous day in decades.
Israel's military said it hit lots of Hezbollah targets overnight, a day after performing airstrikes versus the armed group which Lebanese authorities stated eliminated nearly 500 people and sent out tens of thousands running away for safety.
Hezbollah said it targeted numerous Israeli military targets overnight including a dynamites factory 60 km (37 miles) into Israel, which it assaulted with Fadi rockets around 4 a.m. (0100. GMT). It stated it also attacked the Megiddo airfield near the. northern Israeli town of Afula 3 separate times overnight.
After nearly a year of war against Hamas in Gaza on its. southern border, Israel is shifting its focus to the northern. frontier, where Hezbollah has actually been shooting rockets into Israel in. support of Hamas, which is likewise backed by Iran.
Lebanese caretaker prime minister Najib Mikati's office said. he would fly to New York, where the United Nations General. Assembly is taking place, for more contacts following the. intensified wave of Israeli strikes on Lebanon on Monday.
The battling has actually raised worries that the U.S., Israel's close. ally and local power Iran, which has proxies throughout the. Middle East-- Hezbollah, Yemen's Houthis and armed groups in. Iraq-- will be sucked into a larger war.
The strikes have actually stacked pressure on Hezbollah, which last. week suffered heavy losses when thousands of pagers and. walkie-talkies utilized by its members blew up in the worst. security breach in its history.
The operation was extensively attributed to Israel, which has not. verified or denied duty.
Israel's intelligence and technological expertise has offered it. a strong edge in both Lebanon and Gaza. It has find and. assassinated top Hezbollah commanders and Hamas leaders.
The foreign ministers of the Group of Seven major. democracies stated the Middle East ran the risk of being dragged into a. wider dispute that no nation would acquire from, according to a. declaration launched after they met on the sidelines of the UN. General Assembly.
A full-scale war could produce instability across the Middle. East in addition to a disastrous war in Gaza which reveals no. indication of reducing.
Israel' possible options could consist of getting into southern. Lebanon and additional widening airstrikes to hit more of the. Hezbollah-controlled southern suburban areas of Beirut or Lebanese. infrastructure, consisting of bridges and highways that were blown. up in the 2006 Israel-Hezbollah war.
Lebanon can ill manage such damage as it is still. suffering from a catastrophic financial collapse which its. leaders have delegated fester for five years.
FORMIDABLE OPPONENT
Although it has suffered major blows, Hezbollah would likely. be a more powerful enemy for Israel in a ground invasion than. Hamas.
Created in 1982 by Iran's Revolutionary Guards to counter. the Israeli intrusion of Lebanon, it has huge experience, is. highly disciplined and possesses better weaponry than its. Palestinian ally.
But Israel is facing installing public pressure to protect its. northern border and safely return locals there-- a leading war. top priority.
A senior source familiar with Hezbollah thinking stated the. group was in an unprecedented stage of conflict and Israel. was acting as if it looked for to press Hezbollah versus the wall. Hezbollah states it does not desire a wider war.
The Israeli military stated it struck a Hezbollah militant. cell, and its weapons and tanks struck other Hezbollah targets in. the south. Cops in northern Israel stated pieces of. interceptor missiles were discovered in various locations.
After nearly a year of hostilities that flared last October. as the Gaza war appeared, Israel alerted people in Lebanon to. evacuate areas where it stated the armed motion was saving. weapons.
Households from south Lebanon packed automobiles, vans and trucks. with personal belongings and people young and old. Highways north were. gridlocked.
The Lebanese minister collaborating the crisis reaction,. Nasser Yassin, told Reuters 89 short-term shelters in schools and. other facilities had actually been established, with the capacity for more. than 26,000 people as civilians left what he called Israeli. atrocities.
Israel's military said it struck Hezbollah in Lebanon's. south, east and north on Monday, including rocket launchers,. command posts and militant infrastructure. The Israeli Flying Force. struck about 1,600 Hezbollah targets in southern Lebanon and the. Bekaa Valley, it stated.
Lebanon's health ministry said at least 492 individuals had actually been. eliminated, including 35 kids, and 1,645 wounded. One Lebanese. authorities said it was Lebanon's highest day-to-day death toll from. violence considering that the 1975-1990 civil war.
(source: Reuters)