Latest News
-
Saluda Medical shares plummet on Australian market debut
Saluda Medical shares listed on the Australian Securities Exchange fell nearly 45% in their debut at the Australian Securities Exchange on Friday after raising A$231,000,000 ($152.67,000,000) through its initial public offer. Saluda is a U.S. medical device company that develops neuromodulation treatments to treat chronic neurological conditions. The company sold 87.1 new CHESS depositary interests at A$2.65, which valued the company at approximately A$775 millions at listing. In the first few trading minutes, the stock fell almost half its value to A$1.48. Saluda was founded in Sydney, Australia in 2010. The FDA-approved Evoke Spinal Cord Stimulation (SCS) System is a closed-loop system that uses neural biomarkers to measure and adapt therapy in real-time. Saluda made its debut after GemLife Communities Group IPO of A$750 Million in early July. This was the largest 2025 listing in Australia and surpassed Virgin Australia's A$685 Million offering at the end of June. (1 Australian dollar = 1.5131 dollars) (Reporting and editing by Alan Barona in Bengaluru)
-
Irish media reported that drones were spotted near Zelenskiy's flight path from Dublin.
Local media reported that an Irish navy ship saw up to five drones near the flight path for Ukrainian President Volodymyr Zelenskiy as he arrived in Ireland on Monday to make a state visit. Irish Times reported that the sighting caused a major alert due to fears of an attempted interference with the flight path. The Irish Times cited unnamed sources who said that the aircraft was not in danger, despite its arrival a little early. The Ukrainian delegation arrived on Monday late and left late the following day, as part of an effort to drum up support for Kyiv in Europe as Russia continues its war against Ukraine. Ukrainian media reported that Dmytro Litvyn was an adviser to Zelenskiy. He said that Ukrainian officials had been informed of the drones but took no action. Lytvyn is quoted as saying "The host country is responsible for the security." According to their data there were drones. However, this did not impact the visit. There was no need to change the visit. Recent drone flights originating from unknown origins have disrupted airspace operations across Europe. Ursula von der Leyen, President of the European Commission, has called these incursions hybrid warfare. The Journal website first reported that drones were spotted at Dublin Airport. They said they arrived at the exact location where Zelenskiy’s plane had been expected to be, at the exact time it was due to pass. The authorities said they were conducting investigations to determine if the drones had taken off from a ship or landed on land. Both news outlets reported that they were first seen northeast of Dublin at a distance of around 20 km (12miles) from the airport. Ireland's Defence Forces stated that it could not comment on any specifics about any alleged incident for operational security purposes. A spokesperson stated that "However, Defence Forces Support to the Security Operation, led by An Garda Siochana, was successfully deployed through multiple means, ultimately leading to a successful and safe visit," (Reporting and editing by Timothy Heritage Ron Popeski Stephen Coates).
-
CANADA CRUDE-Western Canada Select trades at steepest discounts ever since March
The difference between the West Texas Intermediate benchmark futures and Western Canada Select futures, which is North American benchmark, has narrowed slightly on Thursday. However, it remains larger than ever before. CalRock reported that WCS for Hardisty, Alberta delivery in January settled at $12.85 per barrel, which is lower than the U.S. benchmark WTI. This compares to $13 Wednesday. The WCS discount on increased Canadian oil production has recently increased after spending most of the year in historically tight levels. This is largely due to the Trans Mountain expansion pipeline which has provided additional export capacity for Canadian oil producers. According to government statistics, the oil-producing province Alberta has set a record for production in 2024 with an average of 3.98 million barrels per day. The first 10 months of the year 2025 have been 3.8% higher than the same period of last year. * Oil prices fell globally on Thursday as investors waited for the Federal Reserve's interest rate cut. Meanwhile, the stalled Ukraine talks dampened expectations that a deal would be reached to restore Russian oil supplies. (Reporting from Amanda Stephenson, Calgary; Editing done by Maju Sam)
-
Brazil 2026 Budget Sponsor proposes $1.9 Billion Exclusion for State-run Firms' Fiscal Target
Gervasio maia, the Brazilian congressman who sponsored the bill on budget guidelines for 2026, proposed to exclude up to 10 billion reals ($1.9 billion) of next year's fiscal goal for state-owned enterprises. According to Maia’s amendment, this amount will cover the expenses of companies that have an active and approved economic-financial plan. The proposal gives President Luiz inacio Lula da Silveira fiscal flexibility. It comes at a time when the postal service Correios is facing a cash crisis. Last month, it approved a restructuring program as its losses soared this year. This raised doubts over the viability of state-run Correios. The company reported a loss for the year to date of 6 billion reals ($1.13 billion), nearly three times the amount reported a year ago. The government has to compensate state-owned companies when they exceed their fiscal targets. This often means freezing federal spending. This is what happened with this year's Budget, when the government in November approved it. It was necessary to offset the 3 billion reais deficit that had been expected at state-owned firms due to Correios’ troubles. Maia removed from her proposal a clause on compensation. This effectively prevents the government from implementing it in the event that state-owned companies miss their targets next year. After the bill was passed, the change to the budget proposal for 2026 was announced ahead of the joint session of the Congress on Thursday. Committee approval is expected to be made on Wednesday. Correios stated earlier this week that the Treasury Blockage It was prevented from taking out a loan of 20 billion reais (3.67 billion dollars) from a bank consortium with a guarantee from the government because the interest rates exceeded the limit for deals backed by the state. ($1 = 5.3048 reales) ($1= 5.3133 reales) (Reporting and editing by Diane Craft; Marcela Ayres)
-
Irish media reported that drones were spotted near Zelenskiy's flight path from Dublin.
Local media reported that an Irish navy ship saw up to five drones near the flight path for Ukrainian President Volodymyr Zelenskiy as he arrived in Ireland on Monday to make a state visit. Irish Times reported that the sighting caused a major alert due to fears of an attempted interference with the flight path. The Irish Times cited unnamed sources who said that the aircraft was not in danger, despite its arrival a little early. The Ukrainian delegation arrived on Monday late and left late the following day, as part of an effort to drum up support for Kyiv in Europe as Russia continues its war against Ukraine. Recent drone flights in Europe have disrupted airspace operations. Their origin is mostly unknown. Ursula von der Leyen, President of the European Commission, has called these incursions hybrid warfare. The Journal website first reported that drones were spotted at Dublin Airport. They said they arrived at the exact location where Zelenskiy’s plane had been expected to be, at the exact time it was due to pass. The authorities said they were conducting investigations to determine if the drones had taken off from a ship or landed on land. Both news outlets reported that they were first seen northeast of Dublin at a distance of around 20 km (12miles) from the airport. Ireland's Defence Forces stated that it could not comment on any specifics about any alleged incident for operational security purposes. A spokesperson stated that "however, the Defence Forces' support to An Garda Siochana's (police) security operation was successfully deployed by multiple means, ultimately leading to a successful and safe visit,"
-
US investigations report that Waymo's self-driving car illegally passed 19 school buses in Texas
The U.S. government said Thursday that it had asked Waymo for more information after Texas officials claimed that Alphabet's self-driving cars had passed school buses illegally 19 times since the beginning of the school year. In October, the National Highway Traffic Safety Administration launched an investigation after an incident that occurred in Georgia. A Waymo was not stationary as it approached a school bus while its red lights were flashing and its stop arm was deployed. The Austin Independent School District posted a letter on November 20, 2018 by the NHTSA. In the letter, they stated that five incidents had occurred in November following the announcement from Waymo that it had updated its software to fix the problem. They asked the company not to operate around schools at pick-up or drop-off hours until it was able to ensure the vehicles wouldn't violate the law. Waymo didn't immediately respond to an inquiry for comment. A lawyer for the district wrote: "We cannot let Waymo continue to endanger our students as it tries to fix the problem." Citing an incident in which a Waymo was "recorded" driving past a school bus that had stopped only moments after the student who crossed in front, while still on the road, had been in front of the vehicle. A spokesperson for the school district did not respond immediately to whether Waymo had met this request. NHTSA was prompted by the letter to ask Waymo if it would comply to the request that self-driving vehicles cease operations during pick-up or drop-off hours for students. They also asked: "Was a software fix developed or implemented to mitigate this concern?" If so, will Waymo file a recall to fix the problem? In a letter sent to Waymo by the NHTSA on Wednesday, it demanded answers to questions about school bus incidents and software updates that address safety concerns. David Shepardson is reporting.
-
US investigations report that Waymo's self-driving car illegally passed 19 school buses in Texas
The U.S. government said on Thursday that it had asked Waymo for more information after Texas officials claimed that Alphabet's self-driving cars had passed school buses illegally 19 times since the beginning of the school year. In October, the National Highway Traffic Safety Administration launched an investigation after a Georgia incident where a Waymo failed to remain stationary as it approached a school bus that had its red lights flashing with a stop arm deployed. In a letter published by NHTSA on Nov. 20, the Austin Independent Schools District stated that five incidents had occurred in November, after Waymo claimed to have made software updates to fix the problem. The district asked the company to stop operations near schools at pick-up or drop-off hours until it could be ensured the vehicles wouldn't violate the law. Waymo didn't immediately respond to an inquiry for comment. David Shepardson reports.
-
Sources: Deutsche Bahn will return to profitability this year and next.
According to sources close the company, Deutsche Bahn will return to profitability this year and next, despite its underinvestment in trains and delays. After more than a decade underinvestment by the state-owned Deutsche Bahn, it has begun upgrading its tracks and overhead lines, as well as cutting administrative costs. This has led to major delays and cancellations across the country. Positive outlook is also a result of CEO Evelyn Palla's task to turn the company around. She took over on October 1. Palla will present her restructuring plan for the company at a meeting of the supervisory board scheduled to take place on Wednesday. Significant job cuts are expected. Deutsche Bahn has declined to comment. Sources said that the company expects a slightly positive profit before interest and tax (EBIT) in 2025 after a loss last year of 388 million euros. EBIT is expected to reach 500 million euros by 2026. The German Bahn also aims at reducing its net loss from 820 million euros to 180 million next year. Revenues are expected to stay stable, around 28 billion euro next year.
U.S. gas markets point to steep price increase in 2025: Maguire
The northern hemisphere summertime has not yet officially completed, however United States gas markets are currently sizing up supply and demand balances for this winter season and the next year, and show that greatly higher rates might emerge.
Forward markets for Henry Center futures, the benchmark U.S. natural gas price, indicate that rates will balance $3.20 per million British thermal systems (mmBtu) in 2025, compared to an average of $2.22 so far this year, data from LSEG programs.
If understood, that approximately 44% year-on-year price increase would be the steepest annual climb given that 2022, and could intensify energy product inflation trends in spite of a downturn in broader rate gains in the United States.
MOOD SWING
The bullish outlook in forward markets contrasts with a. fairly downbeat mood in U.S. gas markets so far in 2024.
U.S. futures plumbed 4-year lows in the spring as major. storage hubs emerged from last winter season with puffed up stockpiles. after mild temperatures during the generally coldest months. of the year cut gas use for heating.
Stock levels have stayed around 10% above the. long-term average given that, and have restricted cost development. throughout this previous summer season even as greater need for cooling. systems raised nationwide gas usage in July and August.
Prices then dropped around 3% on Monday on expectations that. a storm forecast to strike Louisiana later on this week would cut gas. need by triggering power interruptions and minimized gas usage by liquefied. gas (LNG) export plants.
Additional storms off the Louisiana coast this fall will. likely make additional disruptions to crucial gas need centers in the. area, even as gas supply centers further inland continue to. run at near record levels.
Through the first eight months of 2024, average U.S. dry gas. production hit a record of 102.5 billion cubic feet per day. ( Bcf/d), according to LSEG.
That total was up around 0.3% from the same months in 2023,. and is 9.5% above the average daily production rate from 2020. through 2022.
For 2024 as an entire, production is anticipated to average 103. Bcf/d, and then increase to a new record of 105 Bcf/d in 2025,. according to the United States Energy Information Administration. ( EIA).
NEED DRIVERS
Gas usage is also set to scale brand-new heights moving forward.
Power production, commercial processes and liquefied natural. gas (LNG) exports are the key drivers of U.S. natural gas use.
The power sector accounts for around 38% of overall U.S. gas. demand, while market consumes an additional 32%, according to. EIA.
The LNG export sector represent an additional 10%,. according to the Institute for Energy Economics & & Financial. Analysis (IEEFA).
The power and industrial demand sectors look primed for. even more growth in 2025 and beyond, as total nationwide electricity. usage continues to climb and output of manufactured products. and chemicals increases.
Gas use in U.S. power generation is likely to accelerate. over the coming years as more ineffective coal-fired power. plants are changed by gas-fired systems, which emit around 77%. less carbon dioxide per system of electrical energy than coal plants.
U.S. LNG exports also look set to broaden to brand-new records, as. new export terminals crank up operations and take advantage of growing. global usage of gas.
The volumes of U.S. gas consumed by LNG exporters,. referred to as feedgas, are expected to climb from around 13 Bcf/d. currently to 17 Bcf/d by the end of 2025, according to LSEG.
RATE ASSISTANCE VS PRICE DISCOMFORT
That 31% climb in gas use by the LNG export sector is. anticipated to help tighten up the U.S. supply of gas just as. gas usage in power generation also climbs.
In reaction, rates are set to trend higher, which is. reflected in the existing upward-sloping forward curve for the. U.S. natural gas market.
Higher gas costs need to in turn stimulate a supply response,. and encourage producers to lift output.
On the other hand, high gas rates may begin to trim. customer need, particularly amongst the cost-conscious commercial. sector which might amaze specific procedures if direct gas-use. expenses climb up expensive.
High gas acquisition costs may also consume into the need for. gas by certain LNG exporters, particularly those that do not. already have in location favourable terms with gas buyers in. overseas markets.
Presently, average gas rates in the Netherlands, a significant. European gas usage hub, are around 4.6 times above Henry. Center rates, and so can present a large profit chance for. U.S. LNG exporters with the means to provide cargoes.
By the end of 2025, nevertheless, that rate differential is. projection to decrease to 3.5 times the Henry Hub level, due in. big part to increasing U.S. gas costs, and may narrow even more. if European gas costs decline.
Gyrations in forward U.S. and worldwide gas costs can. be anticipated to make more changes to the economics of gas. production, use and exports moving forward.
As an outcome, global traders will continue to keep one. eye on far-forward gas costs in key markets, even if current. costs do not show much sign of strength. << The viewpoints expressed here are those of the author, a. writer .>
(source: Reuters)