Latest News
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Bloomberg News: Air India wants $1.14 billion from SIA and Tata to survive, reports Bloomberg
Bloomberg News reported that Air India was seeking financial support of at least 100 billion rupees (about $1.14 billion) from its owners, Singapore Airlines and Tata sons. The report cited people who were familiar with the situation. This follows the deadly Air India crash that claimed more than 240 lives in June, plunging it into its worst crisis. It also complicates its efforts to restore its reputation as well as modernize its fleet. Reports said that the Tata Group's carrier, Air India, is seeking funds to revamp its systems and services and develop in-house engineering departments and maintenance departments. Bloomberg stated that any financial support will be proportional to the ownership. The owners can decide whether the funding is an interest-free equity loan or a loan. Tata Group owns 74.9% of Air India, the airline it bought in 2022. Singapore Airlines holds the remaining 25%. The report could not be verified immediately. Air India, Singapore Airlines, and Tata Sons have not responded to requests for comment. Air India's CEO pledged to improve internal practices earlier this week. ($1 = 87.8950 Indian Rupees) (Reporting and editing by Rashmi aich and Alan Barona in Bengaluru)
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JetBlue flight diverted to Tampa after flight problem, reported injuries
JetBlue Airways Flight 93, which was en route to New Jersey from Cancun in Mexico on Thursday, diverted after a flight-control issue. Some passengers were injured, according to the Federal Aviation Administration. JetBlue Flight 1230, an Airbus 320, departed Cancun International Airport and was heading to New Jersey's Newark Liberty International Airport at the time of its landing around 2:19 p.m. ET at Tampa, Florida. The FAA is conducting an investigation. JetBlue reported that the aircraft dropped in altitude. "Medical personnel evaluated passengers and crew members, and those who needed additional care were taken to a nearby hospital." The airline has not yet revealed how many people have been injured. The airline has announced that it will investigate the incident thoroughly to find out what happened. JetBlue stated that "the safety of our passengers and crew members is our top priority and we will support those involved." (Reporting and editing by Diane Craft, Leslie Adler, and David Shepardson)
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FAA delays flights at Dallas, DC Airports due to air traffic staffing
As the government shutdown enters its 30th day, the U.S. Federal Aviation Administration has been delaying flights in Ronald Reagan Washington National Airport as well as Dallas Fort Worth International Airport because of staffing problems. Staffing problems are expected to cause delays in Orlando. The FAA reported that flight delays at Reagan were on average 91 minutes and at Dallas 21 minutes. The government shutdown has resulted in tens of thousands flights being delayed or cancelled. The FAA issued a groundstop for Reagan Airport earlier on Thursday due to staffing issues. In the northeast of the United States, bad weather also delays flights. Over 13,000 air traffic control officers and 50,000 Transportation Security Administration agents are working without pay. Sean Duffy, Transportation Secretary, said that air traffic controllers' absences were responsible for 44% of Sunday delays and 24% of Monday delays. This is compared to an average of 5% before the shutdown. Even before the shutdown, many air traffic controllers were working six-day weekends and mandatory overtime. Reporting by David Shepardson, Doina chiacu and Andrea Ricci; editing by Katharine Ricci and Andrea Jackson
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The demand for sanctions is greater than the supply of uranium
The differentials between Brent and Urals crude were unchanged on Thursday, despite a relatively quiet trading session. Western sanctions also weighed heavily on the demand for Russian grades of crude oil. Traders said that buyers of Russian oil from China, India, and Turkey had studied the new restrictions imposed by US, EU, and UK. Traders said that some of them had already looked for alternatives to oil grades on the market. According to traders and a report reviewed on Thursday, Indian Oil, the state-run refiner, is looking to buy more crude oil from Americas. Mangalore Refinery and Petrochemicals has purchased Abu Dhabi crude oil to replace Russian oil. PLATTS WINDOW On Thursday, there were no bids or offers reported for Urals BTC, CPC Blend or Azeri BTC crudes in the Platts window. * Lukoil announced on Thursday that it accepted an offer by global commodity trader Gunvor for its foreign assets. Russia's second largest oil company wants to sell these assets after Washington imposed sanctions against it last week. Reporting by
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Globe and Mail reports that Canadian National Railroad has laid off 400 managers.
The Globe and Mail reported that Canadian National Railway laid off 400 managers from its rail offices in Canada and the United States due to a drop in freight caused by the trade war. In August, Donald Trump announced that he would increase tariffs against Canada by an additional 10%. Sector tariffs of 50 percent on all steel and aluminum imports have hurt the economy in the region. The company did not disclose the number of affected employees. Could not verify immediately the number of affected people. On October 31, the railroad company that connects Canada's Eastern, Western and Gulf coasts to the U.S. Midwest, will report its third-quarter earnings. In its second-quarter forecast, CN retracted its 2024-2026 projection, citing a high level of macroeconomic volatility and uncertainty related to changing trade and tariff policies.
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Lithuania closes Vilnius Airport again due to weather balloons
The airport in Vilnius, Lithuania, temporarily closed its doors on Thursday because weather balloons were flying near it. This was the sixth incident of this kind in the month. Lithuania said that the balloons were sent by smugglers who are transporting contraband cigarettes. But it also blamed Belarus President Alexander Lukashenko for not stopping this practice. Lukashenko is a close friend of Russian President Vladimir Putin. The airport reported on Thursday that "according to preliminary information a balloon or balloons were flying in the direction (of Vilnius Airport)" when the decision was taken to restrict airspace. The airport's traffic was suspended until 2100 GMT, the statement added. Baltic Nation has already Close In response to airspace disruptions and balloons, it has announced that it will shoot down balloons. Lukashenko Tuesday The word "that" is a phrase that means, "that which". Lithuania He called a border closure a "crazy sham" and accused the West for waging a hybrid conflict against Belarus and Russia, which was ushering a new age of barbed wire division. (Reporting and writing by Andrius Sytas; editing by Terje Solsvik).
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The US Army Corps has approved Enbridge's Line 5 Reroute in Wisconsin
The U.S. Army Corps of Engineers approved the plan of Canadian company Enbridge to reroute an oil pipeline section around a Wisconsin tribe reservation. The Army Corps (a federal engineering service) issued a permit to Enbridge on Wednesday to build a 41-mile section of pipeline around Bad River Reservation to replace an existing segment that crosses tribal land. In 2019, the Bad River Band filed suit to remove the pipeline from its land. They cited concerns over treaty rights, and the potential risk of an oil spill on Indigenous people and their environment. Enbridge submitted permits to state and federal regulatory agencies in 2020 for the Wisconsin Relocation Project. Enbridge's spokeswoman described the permit as a significant project milestone. However, construction cannot start until all state permits from last year have been confirmed. Environmental groups and opponents of Line 5 have challenged these permits. They claim that Enbridge's plans don't adequately protect Wisconsin's waters. Enbridge, which said it was confident that state permits would be soon confirmed, stated on Thursday. Enbridge Line 5 is 645 miles of oil pipeline built in 1953. It carries oil through Michigan, Ontario and Wisconsin. The company plans to build a 4-mile-long tunnel in Wisconsin to house an aging section of pipeline which crosses the Straits of Mackinac on the Great Lakes. The Army Corps has yet to approve Enbridge's project, which involves the construction of a $750-million tunnel to house the Line 5 oil pipeline. The Army Corps announced earlier this year that it would make a decision on the project this fall. Reporting by Amanda Stephenson, Calgary; editing by Chizu Nomiyama
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What did Trump and Xi agree on regarding tariffs, export control, and fentanyl
U.S. president Donald Trump and Chinese president Xi Jinping took steps on Thursday to de-escalate the trade war. They swapped some U.S. duties and tighter export controls in exchange for a pause on Beijing's new restrictions regarding rare earth minerals and magnetic materials and a resumption on its purchases of American soya beans. The agreement extends the delicate trade truce for around a year between China and the United States. Here are the main elements of the Trump-Xi Agreement that was reached at Busan, South Korea. TARIFF REDUCTION ON FENTANYL-RELATED CHINESE GOODS The U.S. is reducing by half the current tariff of 20% on Chinese goods relating to supplies from China of fentanyl precursor chemicals. According to Trump administration officials, the reduction in duties to 10% from the initial duties imposed in Febrary will reduce the U.S. overall tariff rate for Chinese imports by about 57% to 47%. This total includes tariffs of approximately 25% on Chinese imports imposed during Trump's initial term as President, a 10% "reciprocal tariff" imposed in April along with previous "Most Favoured Nation" rates. The 47% tariff is less than the 50% tariffs Trump has imposed on goods from India and Brazil, after adding extra punitive tariffs for political reasons. Canada, which is the biggest buyer of U.S. goods, could face 35% tariffs if Trump follows up on his threat to levy an additional 10% on imports from Canada in response to an Ontario government advertisement that angered him. CHINA'S RARE EARTH EXPORT CONTROLS ARE NOW SUSPENDED FOR ONE YEAR China has agreed to suspend for one year its export controls on rare earth minerals, magnets and other materials that are vital in the manufacture of cars, planes, and weapons. These materials have been Beijing's greatest source of leverage during their trade war with Washington. Export licenses would have been required for products that contained even trace amounts from an expanded list and were intended to prevent their use in weapons. The Chinese move will not affect the controls put in place by the United States in April to counter Trump's "Liberation Day tariffs". This allows Beijing to continue to monitor the sector and maintain some leverage. The U.S. and China held lengthy negotiations during the summer to determine rare-earth screening and shipment procedures that would keep the Chinese metals flowing. These procedures have now been extended. TRUMP ADMINISTRATION EXPORT CONTROLS PUSED The U.S. agreed that for one year, the Commerce Department would pause a massively expanded blacklist of companies who are banned from purchasing U.S. High Technology Goods, including semiconductor manufacturing exports. This global shift is largely intended to prohibit the use of subsidiaries or other linked firms in order to circumvent the controls. The most significant impact would have been on Chinese companies as the new rules would have included companies that were more than half owned by those already listed. This would have led to the ban of U.S. imports for thousands more Chinese companies. CHINA COMMITS PURCHASES OF SOYBEAN Scott Bessent, U.S. Treasury secretary, said China had agreed to buy 12 million metric tonnes of U.S. soya beans in the current marketing season through January and to commit to buying 25 million metric ton in each of the three following years. China stopped purchasing U.S. beans in the fall, and bought none in September. It now sources all its beans from Brazil or Argentina. Beijing gained leverage in negotiations when it added economic pain for U.S. Farmers, an important constituency of Trump. Analysts said that the soybean commitments would only return China to its previous levels of U.S. purchase. The U.S. exported almost 27 million tons soybeans to China in 2024. China had promised to increase soybean purchases as part of the "Phase One", a Trump-negotiated trade agreement that stopped a trade conflict in 2020. However, the COVID-19 pandemic prevented them from meeting their targets. TRUMP ADMINISTRATION PAUSES PORT FEES. The Trump Administration agreed to pause its new port charges for Chinese-built ships. These fees can add thousands of dollars to the cost of each trip to U.S. Ports. The fees were implemented on October 14 to combat China's global leadership in shipbuilding and ocean freight, and to revive U.S. commercial shipping. They also included 100% tariffs on Chinese ship-to shore cranes. These port fees have disrupted cargo flow, causing container prices to rise as shippers try to avoid vessels with a China connection. China has set its own fees for U.S. linked ships, which includes those owned by global shippers that have 25% U.S. equity. COOPERATION AGAINST FENTANYL TRACKERS Bessent reported that China had agreed to provide the U.S. with "substantial" cooperation in order to reduce the flow of fentanyl-precursor chemicals into the U.S. Bessent said on Fox Business Network in the coming week, two working groups will "set objective measures" to reduce flows in order to measure the success of the effort in curbing deadly opioids responsible for the tens thousands of U.S. deaths from overdoses every year. The tariffs were imposed by Trump after he had questioned the Chinese government's promises to assist. They said that they would not lift them until Beijing took concrete steps. China, in a statement released by its Ministry of Commerce only said that both sides had "reached a consensus" regarding the cooperation on counter-narcotics. (Reporting and editing by Paul Simao, Andrea Shalal Doina Chiacu, David Lawder)
Considering showdown with Hezbollah, Israel presses watch project in Syria
Israel has heightened hidden strikes in Syria versus weapons websites, supply routes and Iranianlinked commanders, seven local authorities and diplomats said, ahead of a threatened fullscale attack on Tehran's essential ally Hezbollah in Lebanon.
A June 2 air raid that eliminated 18 individuals, including an consultant with Iran's elite Revolutionary Guards, targeted a. private, prepared weapons site near Aleppo, three of the. sources said. In May, an air campaign hit a convoy of trucks. headed to Lebanon bring rocket parts and another raid killed. Hezbollah operatives, 4 said.
Israel has for years struck militant groups backed by. arch-foe Iran in Syria and in other places, in a low-level project. that burst into open conflict after Israel and Palestinian. group Hamas - another Iranian ally - went to war in Gaza on Oct. 7.
Israel has actually given that eliminated dozens of Revolutionary Guards. ( IRGC) and Hezbollah officers in Syria, from just 2 last year. before the Oct. 7 attack, according to a tally by the Washington. Institute for Near East Policy, a think tank.
The fight struck fever pitch in April when Israel bombed the. Iranian consulate in Damascus, eliminating the top IRGC leader. for operations in the Levant. In retaliation, Iran fired some. 300 rockets and drones at Israel, practically all of which were shot. down. Israel then assaulted Iranian area with drones.
This direct confrontation, a very first for the two nations,. stopped there. Israel also briefly lowered the variety of strikes. it was performing versus Iranian proxies, said Selin Uysal, a. French diplomat seconded to the Washington Institute, pointing out the. tally, which counted publicly-known attacks in the weeks. right away before and after.
There was a downturn after the face-off in April, she. said.
But they are getting once again due to the fact that of thought Iranian. weapons transfers to Lebanon. There is a kinetic effort in Syria. and Lebanon to interrupt the supply chain between Iran and. Hezbollah.
spoke with 3 Syrian authorities, an Israeli. federal government authorities and three Western diplomats about Israel's. Syria project. The authorities asked not to be called to talk. easily about sensitive matters.
The Syrian officials provided formerly unreported details of. the targets of Israeli strikes around the cities of Aleppo and. Homs in recent months, including the June 2 attack.
All those interviewed stated Israel's relocations recommended it was. getting ready for a full-scale war versus Hezbollah in Lebanon,. which borders Syria, that might start when Israel dials down its. campaign in Gaza.
The statements of our leaders have actually been clear that. escalation might be imminent in Lebanon, the Israeli federal government. authorities said.
Israeli Prime Minister Benjamin Netanyahu stated last week. that his nation was gotten ready for extremely strong action at its. frontier with Lebanon, where it has actually been battling a so-far. minimal battle with Hezbollah considering that Oct. 8.
War in Lebanon is not inevitable. Israel has actually likewise indicated. openness to diplomatic efforts being brokered by Washington and. France. The Israeli federal government authorities stated the project in. Syria was also targeted at deteriorating Hezbollah and thus. preventing it from a war with Israel.
The Israeli federal government and armed force did not react to. concerns for this post. Israel hardly ever openly acknowledges. targeted killings overseas and has actually not commented on the recent. strikes in Syria. A senior Israeli official stated last year. Israel was figured out to avoid Syria entering into a brand-new. front.
The IRGC and a Syrian government spokesperson did not. respond. Hezbollah declined to comment.
KILLING COMMANDERS, STRIKING SUPPLIES
Syria, a longtime Iranian ally, ended up being the key channel for. Tehran's arms supplies to Hezbollah after Iran deployed military. workers and countless allied paramilitaries from around. 2013 to assist President Bashar al-Assad throughout his country's. continuous civil war.
Some weapons parts are smuggled into Syria while others are. assembled there, the 3 Syrian officials stated.
Israel's Syria project intends to ensure Hezbollah, Iran's. most faithful ally and the linchpin of Tehran's projection of. local power through militant proxies, is as weak as possible. before any type of battle begins, the Syrian officials and. Israeli official stated.
The June 2 killing of Saeed Abyar, described by Iranian. state media as an IRGC consultant, revealed Israel's reach in taking. out key personnel and targeting equipment even when Iran has. attempted brand-new methods of securing weapons and parts bound for. Hezbollah, the Syrian authorities said, consisting of moving the. manufacture of weapons to more concealed or prepared locations.
Abyar was checking out a factory for missiles for. Hezbollah that was concealed inside a stone quarry east of the city. of Aleppo when he was hit, the Syrian authorities said. The. facility remained in a location developed to be difficult to discover and hard to. hit, said one of the officials, an intelligence officer.
Iran blamed Sunday's strike on Israel and the head of the. IRGC has sworn to retaliate.
The authorities said the strike killed 17 other individuals,. including Iran-aligned militiamen. It was the first targeting of. an IRGC authorities since Israel bombed the Iranian consulate, they. said.
But it is not the only attack it has carried out ever since.
An air strike near the Syrian city of Homs on May 29. targeted a lorry carrying parts for directed rockets from Syria. to Lebanon, the Syrian intelligence officer stated. Another strike. on May 20 targeted members of Hezbollah, the officer said.
Before the Iran consulate attack, a series of air strikes in. late March around Aleppo struck discount store high explosives. for missile warheads, the officer stated.
Other attacks have actually targeted Syrian air defence systems that. had in recent years offered Hezbollah and Iranian military. personnel some security to operate, including Russian-made. Pantsir air defence systems, mobile missile launchers that the. Syrian military uses, a Syrian military authorities stated. Other. strikes had actually targeted early-warning radar systems, the official. stated.
Sometimes Israel is hitting even before we install our. equipment, the authorities said.
The Israeli federal government authorities said Israel's targets were. advanced anti-aircraft weapons, heavy rockets and. precision-guidance systems for rockets.
ISRAEL TIPPING THE BALANCE?
The variety of Israeli attacks in Syria leapt drastically. after Oct. 7, when Israel and Hamas fought.
The frequency has doubled, said the Washington Institute's. Uysal.
Israel carried out 50 air campaign in Syria in the 6 months. after the Gaza war started, she said. These consisted of attacks on. Aleppo airport, the Nairab military airport, Damascus airport,. and the Mezzeh military airport, which are key in weapon. transfers. Weapons caches were likewise among the targets.
The strikes have consisted of the killing of some 20 IRGC. authorities and more than 30 Hezbollah commanders, Uysal said. In Between January and October of 2023, 2 IRGC authorities and no. Hezbollah leaders were killed by Israeli strikes in Syria,. Uysal stated.
The attacks in Syria definitely stop arms and ammunition. deliveries and damage the capability of Hezbollah or Iran to. organise, said Lior Akerman of Reichman University, a previous. Brigadier-General in Israel's domestic security service.
Iran sends restricted varieties of consultants to Syria, such as the. senior IRGC authorities killed in the consulate battle. Hezbollah. has released thousands of fighters there.
Hezbollah main Nawaf Musawi informed the Iran-aligned Al . Mayadeen TV channel in March that the group was opening new. ammo depots and getting more precision rockets and. better quality weapons by land, sea and air.
Farzan Sabet, a senior researcher at the Geneva Graduate. Institute who specialises in Iranian foreign policy, said. attacks on Israel by Hezbollah and Iran's allies in Iraq and. Yemen during the Gaza war had taken a toll on Israel.
However it has actually eliminated much more Hezbollah operatives and senior. figures consisting of IRGC workers in Syria, so on balance it's a. bigger loss for Iran's allies, Sabet stated.
(source: Reuters)