Latest News
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Air India is looking for a new CEO to replace Campbell Wilson.
Air India's Board is?looking for a new Chief Executive to replace Campbell Wilson. Two people with direct knowledge said this. The airline continues to be under scrutiny due its safety lapses following a June crash that killed 260 people. After the worst aviation accident in the last decade, regulators pointed out a number of problems, ranging from not performing emergency equipment checks on aircraft to replacing engine parts late, falsifying maintenance records and failings in crew fatigue management. Wilson will take over as Air India's CEO and managing Director in July 2022, after a career of 26 years at Singapore Airlines. He held a variety of senior positions across the flagship airline and its wholly-owned low-cost subsidiary Scoot. The term of Wilson, a New Zealander, at Air India is due to expire in mid-2027, but he may be replaced sooner, according to India’s Economic Times, which reported the search for a replacement CEO on Monday. N. Chandrasekaran is the chairman of Air India, as well as its majority owner Tata Group. Singapore Airlines owns a 25% stake of Air India. Requests for comments from the Tata Group and Singapore Airlines as well as Wilson were not immediately responded to. Tata was not happy with Wilson's performance last year after the airline was bought by the Indian government. Wilson was given a "blank cheque" to fix the problems, according to one person. Both'refused to be named due to the sensitive nature of the issue. According to The Economic Times, Chandrasekaran held talks with at least two top UK and U.S. international carriers about becoming Wilson's successor. This was reported by officials who were familiar with the issue. The newspaper also added that Air 'India Express, a low-cost carrier of the group, will likely see similar leadership changes. Air India, India's national carrier, was sold to Tata Group by the Tata Group to try and revive its fortunes in 2022. The conglomerate has made significant investments to modernise its fleet and expand routes. However, delays in aircraft deliveries, refurbishments, operational concerns and safety issues have hampered the turnaround of the airline. Reporting by Abhijith and Aditya Ganapavaram; Writing by Chandini monnappa; and Editing by Mrigank and Jamie Freed.
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Air India is looking for a new CEO to replace Campbell Wilson.
Air India is looking for a new CEO to replace Campbell Wilson. Two?sources? familiar with this matter said that the airline was still under intense scrutiny following a fatal crash in June. Air India's crash in June, which killed 260, has prompted a greater scrutiny of the airline. Regulators have flagged lapses that range from not checking emergency equipment to delays in replacing engine parts and crew fatigue. Wilson became Air India's CEO and managing Director in July 2022 after a career of 26 years at Singapore Airlines. He held various senior roles across the flagship carrier as well as its wholly-owned low-cost subsidiary Scoot. Wilson's tenure at Air India will end?in 2027. The Tata Group, Singapore Airlines' Air India and Wilson have not responded to requests for comment. (Reporting and writing by Aditya?Group and Abhijith?Ganapavaram; editing by Mrigank?Dhaniwala).
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Officials say that the attack on Berlin's power grid was caused by "extreme leftists".
Officials said that a fire in southwest Berlin, which has left tens?thousands without electricity in the German capital, was likely the result of an?extremist attack on the far-left. The grid company Stromnetz Berlin reported on Saturday that up to 45,000 homes could be without electricity until January 8 due to the suspected arson. It said that efforts were still being made to restore power, and around 35,000 homes and 1,900 commercial entities are still affected. Local media reported a letter purporting to be?from an activist group of the far-left called the Volcano Group? that claimed responsibility for the incident and said its actions were directed towards the fossil fuel based energy industries. Iris Sprenger, Berlin's Minister of Interior Affairs, wrote on x that "the letter claiming to be responsible has been classified by the security agencies as authentic." "I strongly condemn this inhumane attack against Berliners and tourists to Berlin." The investigation continues." A?suspected?arson attack on two?pylons in Berlin left 50,000 homes without electricity in September. Local media compared this to Volcano Group’s high-profile attack in 2024 on Tesla's gigafactory at Gruenheide. (Reporting and editing by Christina Fincher.)
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Sources say that Venezuela's PDVSA has asked some joint ventures for a reduction in oil production.
Three sources familiar with the decision told reporters that Venezuela's PDVSA, the state-owned oil company, is asking joint ventures to reduce crude production due to an "export paralysis". This will add pressure to an interim government struggling to hold on to power. These include?shutting down oilfields and well clusters, as the stocks onshore increase. The company also runs out of diluents needed to mix Venezuela's heavy crude before shipping. Caracas is currently in a political crisis, under an interim government. This comes after U.S. troops rescued President Nicolas Maduro on Saturday. Oil exports from the OPEC nation, which are its'main source of income, have come to a halt following a U.S. sanctions-imposed blockade of tankers and the seizure of 2 oil cargoes in December. Chevron cargoes heading to the U.S. were an exception. They continued to move?because Washington has granted the company a license for its operations. Shipping data on Sunday showed that since Thursday, all of these have stopped. President Donald Trump announced on Saturday that an "oil boycott" was in force on Venezuela as part of the announcement of Maduro’s detention, and the U.S. overseeing the transition. Sources said that PDVSA asked joint ventures such as Petrolera Sinovensa of China National Petroleum Corporation (CNPC), Petropiar from Chevron, and Petroboscan, Petromonagas and Petroboscan to reduce production. Petromangas is now solely operated by PDVSA. Previously, it was jointly run by PDVSA, Roszarubezhneft and the Chinese National Petroleum Corporation (CNPC). PDVSA and CNPC didn't immediately respond to requests for comment. Chevron stated on Sunday that it continues to operate in "full compliance with all relevant laws, regulations and standards," without giving any details. One source said that workers at Sinovensa were preparing to disconnect up to ten well clusters on Sunday due to a PDVSA demand after "an excess accumulation of extra-heavy crude and diluents". The person said that the wells can be quickly reconnected if necessary in the future. Chevron, on the other hand, hasn't cut back yet, as it still has plenty of room to store products, especially at Petropiar. Tankers are also still loading. Although its vessels haven't left the country in recent days, and storage capacity at Petroboscan is limited, it could still lead to cuts. Delcy Rodriguez (now Venezuela's interim President), Venezuela's former oil minister, stated last month that the country will continue to produce and export oil despite U.S. sanctions.
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Officials say that at least 25 people are dead and 14 others missing after a boating accident in Nigeria.
Officials said that at least 25 people were killed and 14 more are still missing after a boat capsized with dozens of passengers in Yobe State, north-eastern Nigeria. Accident?occurred? just before 8 pm local time on Saturday, 1900 GMT, when the large canoe that had left Adiyani in northwestern Jigawa State overturned while en route from Garbi to Yobe State. According to Mohammed Goje of the Yobe State Emergency Management Agency, the vessel carried 52 passengers. "So far, 13 passengers were rescued alive while 25 bodies were recovered. Goje stated that search and rescue operations were ongoing for the 14 missing people. He added that local volunteers, security agencies and emergency teams had been present at the scene. The police in the state of?Jigawa confirmed the incident, and stated that the canoe capsized because it was leaking. It was a day of trading and the victims were heading home. "If the driver survives, then he will face criminal charges for negligence," Lawan Adam, a spokesperson for the state police, said. He noted that safety laws prohibiting night trips and overloading had been ignored. Babagana Shettima is a resident of Adiyani and said that the casualties came from his village as well as Yobe. "When the boat's arrival was late, relatives raised alarm. Later, it was discovered that the canoe?capsized half way. Divers recovered a few bodies," he said to?. In Nigeria, boating accidents can be deadly. Many vessels operate without safety precautions. In September, 60 people were killed when a boat that was overloaded sank in central Nigeria after colliding with a stump of a tree.
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Radio frequency failures cause flight cancellations in Greece, leaving thousands stranded
Flights in Greece were grounded Sunday after a 'collapse of radio frequency crippled the air traffic communication. This left thousands of travellers stranded and brought airport operations to an end. The cause of the disruption was not clear. It began early on Sunday morning and rapidly escalated. The civil aviation authority of Greece said that some overflights in Greek and regional airspace are still being serviced. However, airport operations have been restricted for safety purposes. Dozens were affected. Panagiotis Psarros of the Association of Greek Air Traffic Controllers told ERT that "for some reason, all frequencies were suddenly gone.. we couldn't communicate with aircraft in flight." He stated that the problem appeared to be the 'collapse of the central radio frequency systems? at the Athens-Macedonia area control system, the largest aircontrol facility in the nation based in Athens. It monitors Athens Flight Information Region - a vast area of airspace controlled by Greek authorities. Flight tracking showed that the Greek airspace is largely empty. ERT reported that airport 'arrivals and departs' were suspended at 9 a.m. (0700 GMT) local time, reporting from a departures hall at Athens Eleftherios Venizelos Airport?crowded with travelers. "We've not been told the cause of the problem... the equipment we have is almost ancient." Psarros stated that they had raised the issue many times before. An official from the Transport Ministry told us that some aircraft headed north or east were allowed to depart. An official reported that more than 75 flights had been delayed. A spokesperson for the Israel Airports Authority said that Greek airspace was closed until 4:00 pm local time (1400 GMT). The spokesperson warned travellers to expect delays on arrivals and departures. (Reporting and editing by Hugh Lawson, Ros Russell and Hugh Lawson; Additional reporting in Israel by Steven Scheer and Renee Maltezou;
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President says Serbia's NIS Refinery will be operational on Jan. 17 or 18.
Aleksandar Vucic, President of Serbia, said that the Russian-owned NIS refinery in Serbia, sanctioned by the United States, would be operational as early as 'January 17 or 18, after it received a temporary license. The Office of Foreign Assets Control of the U.S. Treasury Department granted NIS on Wednesday a temporary operating license until January 23. This will allow it to resume its production after a 36 day?break. The US has given NIS - which owns Serbia’s only oil refinery - until 24 March to negotiate the sale of its Russian shareholders' stake. Vucic, speaking to reporters in Belgrade, said: "I expect the first 85,000 tonnes of crude oil to be delivered by January 15th... and that 'the refinery will start operating on either January 17th or 18th... and that 'we can begin producing oil derivatives as early as January 25th and 26th." Gazprom, the Russian oil company, owns 11.3% of NIS while its sanctioned oil subsidiary Gazprom Neft (SIBN.MM), holds 44.9%. The Serbian Government holds 29.9% of the shares, while small shareholders and employees hold the rest. The Serbian government has said that it supports the ongoing talks between NIS and its?Russian owners, MOL. After granting several waivers since the start of last year, the US sanctioned NIS in October as part of wider measures against Russia's Energy Sector. The sanctions had halted the crude supply via Croatia's JANAF pipeline (JANF.ZA), shutting down the NIS refinery located in Pancevo, a northern town. This week, JANAF announced that it also received a license allowing it export crude oil to NIS. (Reporting and editing by Hugh Lawson, Christina Fincher and Aleksandar Vaovic)
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Overnight, Bergamo Airport in Italy halted flights leaving thousands stranded
Due to technical problems with the landing guidance system, and poor visibility at Bergamo Orio-al-Serio airport in Italy, flights were halted on Saturday evening. This left thousands of passengers stranded over night. SACBO, which operates the airport, stated in a press release that the technical issue was resolved around midnight. However, a warning posted on the website of the 'airport' warned "flights could be delayed or canceled". Local media reported that the incident led to 26 flights being cancelled, 6 being diverted to other airports, and 7 being rescheduled for Sunday. Images show people sleeping on the ground and luggage check-in belts. The Bergamo edition of the Corriere della sera?daily?online said that first flights had been halted around 1700 GMT?Saturday. The airport's website showed real-time information on flights, including a list of many Ryanair flights that were delayed. However, several had departed as early as Sunday morning. A 0605 GMT Ryanair flight from Cagliari was delayed until 0850 GMT and a 0620 GMT Neos Flight to Sharm-el-Sheikh was delayed until 0855 GMT. (Reporting and editing by Elaine Hardcastle; Reporting by Valentina Z.)
Trump dislikes Biden's climate law. His allies are generating income from it
Donald Trump has actually guaranteed to gut U.S. President Joe Biden's. environment aids if elected. However much of Trump's allies are. taking advantage of them thanks to huge investments in solar power,. electrical lorries, carbon sequestration, hydrogen and other. clean energy technologies.
Reuters found at least 7 of Trump's close allies and. charity events, or the companies they run, hold hundreds of countless. dollars-worth of stakes in companies that are significant. beneficiaries of the tax breaks embedded in the Inflation. Reduction Act, Biden's signature climate law.
They include Trump's son-in-law Jared Kushner; his former. ambassador to China and continued ally Terry Branstad; and. companies run by informal energy advisor and oil magnate Harold. Hamm and powerful booster Howard Lutnick.
Big oil companies like Occidental Petroleum and. Energy Transfer, whose CEOs hosted a May fundraising event in. Houston for Trump's campaign with Hamm, likewise hold major. investments in projects that may just be feasible if Biden's tidy. energy tax credits make it through.
And Tesla, whose creator and CEO Elon Musk has actually been. improving Trump's campaign, is likewise benefiting massively from the. IRA's EV and solar credits.
Together, these individuals and business hold billions of. dollars in investments that receive the individual retirement account's financially rewarding tax. credits and stand to lose big if Trump is able to follow through. on his promise to gut Biden's climate law, according to Reuters. reporting.
The financial investments are very important due to the fact that they raise the. likelihood some of Trump's allies may ask him to maintain. elements of Biden's climate law if he wins the November election. against Democratic Vice President Kamala Harris. That would include. influential voices to some of the trade groups and legislators. that have actually currently stood up in favor of specific IRA subsidies.
None of individuals or business recognized were. willing to comment for this story on whether they would. intervene to preserve parts of the individual retirement account.
For the time being, Trump's intentions are clear.
My plan will end the Green New Offer, which I call the. Green New Rip-off, and rescind all unspent funds under the misnamed. Inflation Reduction Act, Trump stated when he unveiled elements. of his economic policy platform in a speech in September.
Trump Campaign Senior Advisor Brian Hughes told Reuters a. broad rollback of the IRA stays a leading concern if he wins the. Nov. 5 election, arguing the package has actually contributed to. inflation and broadened the deficit.
Rescinding any part of the individual retirement account would require an act of. Congress.
A group of 18 Republican legislators representing districts. that have drawn IRA-linked financial investments sent a letter to Home. Speaker Mike Johnson in August prompting him against withdrawing all. of the IRA if the party wins control of your home and Senate.
The White Home stated the individual retirement account produced more than 330,000 tasks. and that gutting it would hurt financial investments made in Republican. states.
By some price quotes, more of this investment is taking place in. red and purple states, White Home representative Angelo. Hernandez stated.
The Biden administration has actually currently worked to provide the. large bulk of IRA grants, however the law's tax credits are set. to continue for many years.
Other financiers and business involved in tidy energy. tasks are hopeful that Trump's campaign rhetoric gives way to. usefulness, must he win in November.
Innovators and energy companies we deal with want policy. predictability. They are making numerous millions in. investments due to the fact that of the individual retirement account, said Jeremy Harrell, CEO of. Washington-based conservative clean energy organization. ClearPath.
Frank Wolak, president of the Fuel Cell & & Hydrogen Energy. Association, stated it will be necessary for Congress to safeguard. the tax credits if Trump wins the election.
We're going to simply do some hard informing on the individual retirement account to. our congressional allies, he stated.
ALLIES WITH IRA ADVANTAGES
- MOSAIC
Trump's son-in-law and previous governmental advisor. Kushner's private equity fund Affinity Partners in 2022 invested. $ 200 million in Mosaic, a California-based supplier of financing. for solar energy and home performance enhancements, according to. financial investment information supplier PitchBook.
Established in 2011 as a crowdfunding startup, the business got a. increase from the individual retirement account's 30% tax credit for property solar, as. well as its customer rewards for photovoltaic panels, electrical heat. pumps and other efficiencies by raising consumer interest for. its clean energy loans.
- TOP CARBON SOLUTIONS
Oil tycoon Harold Hamm has actually long been an energy adviser and. political financier for Republican political leaders, consisting of Trump,. and in May hosted a Houston fundraiser for Trump's third. presidential project.
His company Continental Resources in 2022 made a $250. million strategic investment into Top Carbon Solutions, a. carbon capture and sequestration (CCS) project that will capture. CO2 from ethanol plants and other commercial sources in the. Midwest.
That project relies on the 45Q tax credit for numerous types. of CCS, which the individual retirement account increased greatly across the board.
Though the project was proposed before the individual retirement account was checked in. 2022, the enhanced tax credits could yield a $2.9 billion. windfall for Summit's financiers, according to Jake Schwitzer,. director of policy group North Star Policy Action.
Previous Iowa Governor Terry Branstad, who acted as Trump's. ambassador to China and stays a staunch ally, is Top's. primary policy consultant.
- TESLA
Tesla is a huge recipient of IRA tax credits. The. electrical lorry and solar business called the plan a. substantial increase towards accelerating our objective soon. after it passed into law in 2022, in spite of CEO Musk's public. hostility toward aids.
- OCCIDENTAL PETROLEUM
In addition to co-hosting the Texas fundraising event for Trump in. May, Occidental CEO Vicki Hollub went to a separate charity event. comprised of energy executives at Trump's Mar-a-Lago estate in. April. These events generated tens of millions for Trump's. campaign.
Occidental is a recipient of the 45Q carbon capture tax. credit and is a recipient of an Energy Department grant of. nearly $1 billion to construct a direct air capture (DAC) hub to. show that nascent innovation at scale. The company has. touted its technique to market so-called net-zero barrels of. oil.
In May, Hollub stated in a statement to Reuters: I have actually been. speaking with policymakers on both sides of the aisle, and will. continue to talk with them, to express our support for 45Q,. because it will help establish innovations like direct air. capture which eliminate carbon dioxide emissions from the. atmosphere and safeguard America's energy security.
- ENERGY TRANSFER
Energy Transfer's CEO Kelcy Warren is a long-time supporter. of Trump. The pipeline operator also takes part in projects. supported by IRA tax credits, including two organized Louisiana. CCS hubs, and a hydrogen hub in Texas that just recently won just. over $1 billion in Energy Department funding.
- CANTOR FITZGERALD
Trump's transition team co-chair Howard Lutnick is the. CEO of Cantor Fitzgerald, a major monetary services company that. has actually made substantial investments in business that benefit from. the individual retirement account.
As shift co-chair, Lutnick is playing an essential role in the. search for top-level appointees to staff a possible Trump. administration, and he has actually likewise functioned as a high-dollar. charity event for Trump.
Amongst the companies that Cantor Fitzgerald has invested in. that have benefited considerably from the individual retirement account are Invenergy, a. renewable energy company that is the top constituent of the Cantor. Fitzgerald Facilities Fund.
The infrastructure fund has over $150 million in total web. possessions, according to a July news release, and its financial investment in. Invenergy consists of 14.65% of that fund's overall investments.
The fund is likewise heavily invested in NextEra Energy,. the biggest U.S. renewable resource designer.
Both companies have praised the IRA as practical to their. businesses.
Cantor Fitzgerald has over $13 billion in possessions under. management and offers a broad selection of financial services.
(source: Reuters)