Latest News
-
US airlines cancel flights following Caribbean airspace closure
Major U.S. Airlines canceled hundreds?of flights on Saturday following a military action in Venezuela which resulted in the capture of President Nicolas Maduro. American Airlines, Delta Airlines, Spirit Airlines, and JetBlue Airways all cancelled flights on Saturday in accordance with the Federal Aviation Administration's Caribbean airspace closures. In a letter to airmen, the FAA said that it had closed the airspace for U.S. carriers due to "risks to flight safety associated with ongoing military activity." According to the notice, this closure does not apply to non-U.S. carriers and operators. The FAA refused to comment on this further. Sean Duffy, the U.S. Transportation secretary, said on X in a blog post that "when appropriate" airspace restrictions will be lifted. Customers affected by the closure of the airspace were able to change their flight dates and avoid change fees. JetBlue Airways announced in an advisory that it would waive cancellation fees and fare difference for customers travelling from Saturday, January 3 to Sunday, January 4 2026. Donald Trump, the president of the United States, said that on Saturday night, the 'United States' attacked Venezuela, capturing its long-serving leader Nicolas Maduro, and promised to take control of Venezuela for now, including by using U.S. troops if needed. Air Canada has said that its operations in the Caribbean and South America continue "normally" as per Transport Canada's instructions. The airline stated that it would continue to closely monitor the situation and provide updates if necessary. FlightRadar24 flight records indicate that commercial air traffic in Venezuelan airspace stopped after the attack. Reporting by Dan Catchpole, Seattle; Preetika Parshuraman, Bengaluru. Editing by Chris Reese.
-
Yemen's Southern Separatists Welcome Saudi Call for Dialogue amid Saudi-UAE Rrift
Separatists in Yemen's south welcomed on Saturday the call by Saudi Arabia for dialogue to end recent military escalation. This could be a sign of a calming down in the unusually public conflict between the Kingdom and the United Arab Emirates. The rapid-fire crisis in 'Yemen' has sparked a major feud among the two Gulf states and fractured a coalition of forces led by the internationally recognised?government?, which is fighting against the Iran-backed Houthis. In a press release, the Southern Transitional Council backed by UAE said that the Saudi initiative offered a "genuine chance for serious dialogue," which could protect "the aspirations" of the Southern people. The STC made its statement hours after Yemen's Saudi backed and internationally recognised government announced that it had retaken Mukalla, a key eastern port in Hadramout Province, from southern separatists, who had taken it last month. Since Friday, the government has made rapid gains that have reversed the gains of STC last month. This casts doubt on its plans to hold an independence referendum within two years. ESCALATION Saudi-backed forces had already taken over key locations in Hadramout. This large province has stretches of desert on the Saudi border. Residents reported that STC forces had blocked the roads leading from northern provinces to Aden. The group called on regional and international leaders intervene to stop what they described as "Saudi-backed militarism". In a press release, the statement said that northern Islamist groups - an apparent reference is to the Islah Party that is part of "the internationally recognized government" - have targeted civilians as well as vital infrastructure. The UAE, which is the primary supporter of STC, called for restraint, saying that it was "deeply worried" about the escalation of violence in Yemen. Yemen has been divided for more than a decade into warring regions. It is strategically located between Saudi Arabia, the world's largest oil exporter, and the Bab al-Mandeb Strait, which guards the important sea route that connects Europe to Asia. STC is part of a?internationally recognized government? that controls the southern and eastern parts of Yemen. Gulf states back the STC against the Houthis. Rashad al Ali, head of the Presidential Council, announced overnight that he had requested Saudi Arabia to host an international forum to solve the southern issue. He added that he hoped it would bring together all southern factions. Saudi Arabia granted his request and invited southern factions in Riyadh to meet. Aden Airport, the main transport hub in Yemen for areas outside Houthi control was closed Thursday due to a dispute about new restrictions announced by an internationally recognised government regarding flights with the UAE. Flights are expected to resume Sunday, according officials of Yemen's national carrier. Saudi Arabia and the STC have both accused each other of shutting down air traffic. In a statement released on Saturday, the STC said that southern Yemen is being blocked by land, air and sea. REGIONAL CRISIS The crisis began in early January when the STC seized large areas of land, including Hadramout. This gave the STC firm control of the entire territory of the former South Yemen state that merged into the north of Yemen in 1990. The leaders of the internationally recognized government, based in Aden, and including several ministers from?STC left for Saudi Arabia. Saudi Arabia viewed the southern movement as a threat. Years of divergence over critical issues reached a head and threatened to upset the regional order. Qatar, a fellow Gulf monarchy, has had long-standing regional policy disagreements with the UAE. It said that it welcomed efforts made by Yemen's internationally recognized government to resolve the southern issue. The extent to which the dispute between Saudi Arabia, the UAE and their disagreements on regional security bleeds over into other issues will become clearer this weekend when both countries attend an OPEC meeting scheduled to decide the group's policy for oil production. Saudi Arabia attacked a base near Hadramout early this week and demanded that all UAE forces remaining in Yemen leave. They called this a "red line" for their security and the UAE obliged. The STC's declaration of Friday, that it wanted a two-year period of transition leading to an independence referendum for a South Arabian state, was the movement’s most clear indication to date about its intent to secede. (Reporting and writing by Maha El-Dahan, Enas-Alashray, and Muhammad al-Gebaly, and editing by Toby Chopra and Susan Fenton; Rod Nickel, Diane Craft, and Toby Chopra)
-
US airlines cancel flights following Caribbean airspace closure
Major U.S. Airlines canceled hundreds flights on Saturday following a military action?in Venezuela which resulted in?President Nicolas Maduro's capture. American Airlines, Delta Airlines, Spirit Airlines and JetBlue Airways cancelled flights on Saturday morning, in accordance with the Federal Aviation Administration's Caribbean airspace closures. In a letter to airmen, the FAA said that the closure was due to "risks to flight safety associated with military activity." The FAA refused to comment on the matter further. Sean Duffy, the U.S. Transportation secretary, said in a post to X that restrictions on airspace will be lifted when "appropriate." Customers impacted by the closure of the airspace can change their flight to a later date in the month and the carriers will waive the?change fee and any fare difference. JetBlue Airways announced in its advisory that it would waive cancellation fees and fare difference for customers travelling from Saturday, January 3 to Sunday, January 4 2026. U.S. president Donald Trump announced that the United States had attacked Venezuela on Saturday and taken its long-serving leader Nicolas Maduro into custody in an overnight operation. He also promised to bring the country under American rule for now, even if it meant deploying U.S. forces if needed. Air Canada said that its operations in the Caribbean and South America continue "normally" at this time, under Transport Canada's guidance. The airline stated that it would continue to closely monitor the situation and provide updates if necessary if things change.
-
Berlin fire could cause 45,000 people to be without electricity until January 8
Stromnetz Berlin reported on Saturday that a fire?on a bridge?across the Teltow Canal in south-west Berlin could cause up to 45,000 homes to be without electricity until January 8. The local police are investigating the early morning incident as an arson attack. The fire that broke out near the 'Lichterfelde Heat and Power?station' damaged several high voltage?cables. The company stated in a press release that it expected all customers to be back online by Thursday afternoon. It noted the need for new cables. The report said that mobile phone and landline services could also be affected. According to a note on Twitter, firefighters were alerted by 0545 GMT and extinguished the fire. The police have confirmed that emergency services and criminal investigators are at the scene. Vera Eckert reported; Susan Fenton, Jason Neely and Jason Neely edited.
-
Denver apartment under construction is destroyed by fire, causing power failures
According to the Glendale Police Department, a large fire broke out on Friday night in a new apartment complex in southeast Denver, near the Glendale area. This caused'significant power -outages' in the locality. Denver's Fire Department posted images on X showing a building engulfed in flames, with thick smoke rising into the night skies, and fire?trucks, flashing lights, and the surrounding streets. The fire department reported in the post that one firefighter was injured. He was transported to Denver Health Hospital, a local facility. Robert Murphy, Division Chief of Operations for Denver Fire, told ABC affiliate KMGH TV that more than 100 firefighters were on the scene. This fire is not yet out. Our firefighters are still pouring water on it. We're here for a while, and they're going to keep Leetsdale Drive closed. Police said that authorities have erected a temporary shelter in an event center near Glendale. (Reporting and editing by Ruchika Kohna in Bengaluru, Anusha S Shah in Los Angeles)
-
CANADA-CRUDE-Discount on Western Canada Select narrows
On Friday, the discount between West Texas Intermediate and North American benchmark West Canada Select futures narrowed. CalRock reported that WCS for delivery in Hardisty (Alberta) on?February? settled at $13.15 per barrel, which is $13.40 below the U.S. benchmark WTI. After trading in the $9 to $11 range for most of the year, the WCS discount is now trading in a wider price range. This is largely due to the Trans Mountain Pipeline expansion, which has given Canadian oil producers more 'export capacity. * The widening is due to a combination of factors, including the rising production in Canada which has put pressure on its export pipelines as well as normal seasonal patterns. * Oil prices settled lower on Friday, the first trading day in 2026, after registering their biggest annual loss since 2020. Investors weighed geopolitical risk, such as the war in Ukraine, and Venezuelan exports, against oversupply concerns. (Reporting from Arathy S. Somasekhar, Houston; editing by Vijay Kishore.)
-
US LNG exports set new records in a banner year that marks new capacity
Preliminary data from LSEG revealed that the U.S. became the first nation to export over?100,000,000 metric tons of liquefied gas (mmt) in a year in 2025,?powered mainly by the start-up of new plants. LSEG data revealed that the world's biggest LNG exporter, Qatar, sold 111 mmt, nearly 20 mmt higher than its nearest competitor and almost 23 mmt higher than last year. Last year, U.S. LNG exports accounted for about a quarter. LSEG data showed that Venture Global's Plaquemines?facility?-the country's second largest export facility - delivered 16,4 mmt by 2025, after sending its initial cargo in December 2024. Alex Munton is the director of Global Gas and LNG for research firm Rapidan Energy Group. He said that 24% growth year-on-year was due to high utilization at onstream terminals, and rapid ramp-up at new facilities. Data showed that the U.S. exports of 11.5 mmt in December were a record. The U.S. will set five monthly production records in 2025. Jason Feer said that the U.S.'s success in achieving 100 mmt of LNG by pulling gas from the grid and selling it free onboard validates its approach to selling the gas on board and ensuring the supply reliability. The LSEG ship tracking data shows that Europe remains a major export market. As the Northern Hemisphere's winter intensified and Europe cut back on its Russian gas purchases, the U.S. exported 9 mmt of LNG to Europe last month. Turkey increased its U.S. Liquefied Natural Gas purchases in December by 1.45 mmt. The data revealed that the U.S. only sold 1,23 mmt (million cubic meters) of superchilled natural gas in December. This is down from the 1.75 mmt it sold in November. Egypt continues to purchase significant quantities of U.S. Liquefied Natural Gas cargoes despite its natural gas shortages. In December, it purchased 0.78 mmt, while the Americas took in 0.42 mmt. Feer believes that the U.S. can increase its production by 20 mmt this year. With Plaquemines aiming to reach full capacity in 2018, Cheniere's modular plants expected to be?either at full volume or ramping-up, and the Golden Pass LNG joint venture between QatarEnergy & Exxon Mobil set to start production in the 1st quarter of 2026. Curtis Williams reported from Houston, and Nathan Crooks edited the story.
-
Timeline of suspected underwater sabotage at Baltic Sea
After a series of power outages, telecom links and gas pipelines since Russia invaded Ukraine 2022, the Baltic Sea region has been on high alert. The NATO military alliance increased its presence by adding aircraft, frigates and naval drones. The police have determined that some incidents were caused through sabotage, while others were accidents or are still under investigation. DECEMBER: FINLAND - ESTONIA TELECOM CANAL Finnish police on December 31, seized A cargo vessel suspected of sabotaging a undersea cable that runs from Helsinki through the Gulf of Finland to?Estonia was stopped on its way from Russia. Police said that the Fitburg vessel was caught dragging an anchor in the water and directed to Finnish territorial waters. Investigators reported that the 14 crew members of the ship were from Russia and Georgia and two had been arrested, while two other were banned from travelling. An investigation is ongoing JANUARY - FEBRUARY 2025 - SWEDEN - LATVIA AND FINLAND - GERMANY TELECOM CABLING A fibre-optic cable undersea connecting Latvia with the Swedish island Gotland failed on January 26. This prompted an investigation by NATO, police and other agencies. Sweden seized the Maltese flagged bulk vessel Vezhen and boarded it on suspicion of gross sabotage. The Bulgarian shipping company 'Navigation Maritime Bulgare' said that Vezhen’s anchor may have hit the cable in high winds, but denied any sabotage. Later, a Swedish prosecutor ruled that the breach was accidental and released vessel. In the month that followed, the Finnish telecom operator Cinia reported it had detected issues on its C Lion1 link between Finland and Germany. However, they concluded the damage could have been caused as early as the 26th of January, the day after the Gotland incident. DECEMBER 2024 :?POWER CABLES AND INTERNET CABES On December 25, four telephone lines and the Estlink 2 underwater power cable, which connects Finland to Estonia, were cut. Finland has seized the Cook Islands Eagle S tanker, on suspicion that it was responsible for the damage caused by its anchor dragging. The ship is also believed to be part of an "shadow fleet", which circumvents sanctions against Russian oil. The Kremlin stated that the seizure of the ship was not a major concern for it. Later, the police in Finland recovered an anchor that they believed belonged to the ship. A?Finnish Court dismissed an Eagle S case in October 2025. The court ruled that prosecutors had failed to prove intention and that the flag state of the ship or the home country of the crew must pursue any negligence. The vessel was released after no charges were filed against Caravella LLC, a United Arab Emirates-based company. BALTIC TELECOM CABLES: NOVEMBER 20, 2024 On November 17 and 18 two undersea fiber-optic communication cables, located at a distance of more than 200 km (about 100 nautical miles) in the Baltic Sea, were cut. This raised suspicions about sabotage. The investigators focused on the Chinese bulk carrier Yi Peng 3. An analysis of MarineTraffic showed that the coordinates of the ship matched the time and location of the breaches. After a diplomatic standoff lasting a whole month, China finally allowed investigators and representatives from Germany, Sweden, Finland, and Denmark to board the Yi Peng 3 on December 21, along with Chinese officials. The Accident Investigation Authority of Sweden said that a Swedish investigation found no conclusive proof to suggest the ship intentionally dragged its cable to damage it. BALTICCONNECTOR - GAS PIPE AND CABLES OCTOBER 20, 2023 The Balticconnector subsea pipeline that connects Finland and Estonia was cut by the Chinese container ship NewNew Polar Bear, according to Finnish investigators, on October 8, 2023. The Estonian police suspected that the ship had also damaged telecoms cables linking Estonia with Finland and Sweden between October 8-9, before striking the gas pipeline while on its way to St Petersburg in Russia. According to a Hong Kong charging document seen by us, the ship's captain was charged with causing "criminal damages" to cables and pipelines in Hong Kong during a hearing held last year. SEPTEMBER: NORD STREAM?BLASTS In September 2022, explosions damaged Nord Stream 1 & Nord Stream 2 which were built by Gazprom across the Baltic Sea to supply natural gas to Germany. Western officials have suggested that Russia has blown up its own gas pipelines. This interpretation is rejected by Moscow, which blames the United States of America, Britain, and Ukraine for these explosions. These blasts have largely cut off Russian gas from the European Market. These countries deny involvement. In November 2025 the top court of Italy will be in place Approve the transfer A Ukrainian man's journey to Germany Suspected of Coordinating The sabotage. Last year, a Polish court ruled that German prosecutors could not have a Ukrainian diving trainer. Reporting by Anne Kauranen, Essi Lahto, Nerijus Adomiaitis, Terje Solsvik, Johan Ahlander, Stine Jacobsen, Stine Ahlander, Johan Ahlander, Stine Jakobsen, Andrius Sytas, Anna Ringstrom, Simon Johnson, and Agnieszka Oleniska in Helsinki; Editing by Alex Richardson David Evans Mark Heinrich
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)