Latest News
-
After a double-decker Mexican bus is hit by a train, 10 people are killed and 61 injured
A freight train crashed into a double decker passenger bus in central Mexico, killing 10 people and injuring at least 61 others. The train operator claimed that the double decker bus was trying to pass the moving train. Canadian Pacific Kansas City de Mexico, the railroad, sent condolences and urged drivers to obey road signs and stop at railroad crossings. Herradura de Plata, the bus operator in question, did not respond immediately to a comment request. First responders had cordoned off and photographed the scene. The bus's metal frame was badly dented as well as the front of its top deck. Local authorities reported that the collision occurred in an industrial area on the highway between Atlacomulco (a town located 115 km northwest of Mexico City) and Maravatio in the nearby state of Michoacan. According to the State of Mexico Attorney General's Office, seven women and three males were killed. In Mexico, buses are the main mode of transportation. Although freight rail lines are widespread, passenger train routes are limited. The government of President Claudia Sheinbaum wants to expand the country's passenger rail system to connect many areas of northern and central Mexico. Reporting by LizbethDiaz; Additional reporting and writing by Stephen Eisenhammer, Rod Nickel; Editing by Brendan O'Boyle.
-
FAA has yet to make a decision about Boeing 737 MAX production limit
On Monday, the head of the Federal Aviation Administration stated that the agency has not yet made any decisions about whether or not to abandon the plan to produce 38 737 MAX planes per month since early 2024. It also did say it had not decided how it would overseen Boeing production. "Progress is made. "It may not be as quick as Boeing would prefer, but it's as fast as we are able to move through the process," FAA administrator Bryan Bedford told journalists after an event in Washington. The FAA implemented the production cap in January 2024, shortly after an Alaska Airlines 737 MAX 9 mid-air emergency occurred. Four key bolts were missing from this new aircraft. Since then, FAA has increased its in-person supervision of Boeing production. Bedford said that he is encouraged by Boeing's improvement but that he needs data to answer some key questions. Bedford explained that this would be a bottom up process, with the front line FAA team being the ones to decide if they think we have reached certain milestones which warranted any changes. "None have been made yet." This tells me that the work continues. Boeing declined to comment immediately. Bedford also said that his agency is "stretched" in an interview, as it tries to pursue a $12.5 billion overhaul of U.S. Air Traffic Control System, overseeing Boeing, as well as new regulations on supersonic and drone airplanes and modernizing aircraft certification. Bedford stated, "The agency is now stretched thin trying to get as much information out of the door."
-
Heathrow Terminal 4 in London closed over possible hazardous material incident
On Monday, firefighters were called to respond to a possible hazardous materials incident at Heathrow Airport in London. Heathrow Airport, Europe's busiest international airport, announced on Twitter that Terminal 4 was closed while emergency services responded to an incident. All other terminals are operating normally. The London Fire Brigade stated on its website that "specialist crews were dispatched to assess the scene, and Terminal 4 Check-in was evacuated for safety reasons while firefighters conducted operations." They added that they were first notified about the incident at 1601 BST (1701 GMT). The brigade reported that around 20 people were assessed by paramedics on the scene. At this point, the cause of the accident is still under investigation. Video clips that were not verified and shared online show dozens of people waiting outside the terminal. Heathrow website's departures page shows that flights have taken off from Terminal 4 ever since the incident. A fire that broke out at an electrical substation in March knocked the power to the airport, causing it to be closed for almost a full day. This caused flight schedules all over the world to be disrupted and thousands of passengers stranded. (Reporting and editing by Chris Reese, Rosalba o'Brien).
-
Democratic lawmakers demand that Fed nominee Miran resigns from the White House.
Democratic lawmakers on the U.S. Senate Banking Committee have demanded that Stephen Miran pledge to resign from his job as chief White House economic adviser before the Republican-controlled panel takes any more steps to advance his nomination for a seat on the Federal Reserve's Board of Governors. Miran stated at his confirmation hearing that he was legally advised to take a leave of absence from the White House Council of Economic Advisors, as the Fed position he wants only lasts until the end of January. "That is what I will be taking," he said. Democrats on the panel said that the term of the central banker could be extended, depending on how long it takes to confirm the successor. They also noted the potential conflict created by his dual role as an adviser to Donald Trump and a central lender. In a letter, a majority Democratic member of the panel demanded that Miran resign from his White House position by September 8. In a letter dated Friday, they stated that "without this commitment, we do not believe the committee should move forward with your nominee." The committee has said it will vote on Wednesday to send Miran’s nomination to the U.S. Senate as a whole. Federal Reserve Act states that U.S. central banks governors must devote "their entire time" to board business. The Democratic lawmakers demanded copies of the legal analysis Miran claimed would allow him to continue working at the White House while serving as a Fed employee. They suggested that the arrangement was "inconsistent" with the law. Kush Desaiand, White House spokesperson, said that if Stephen Miran's position as CEA is confirmed, "based on legal advice, Stephen Miran could take a leave of absence without pay from his CEA post." A spokesman of Senate Banking Committee chair Tim Scott declined comment. (Reporting and editing by Ann Saphir, Andrea Shalal and Nick Zieminski.
-
Nepal-Au moins 19 morts lors de manifestations contre l'interdiction des reseaux sociaux
Au moins 19 personnes sont decedees lundi au Nepal lors d'un mouvement de protestations contre l'interdiction des reseaux sociaux et la corruption, dans les pires troubles que le pays ait connus depuis des decennies, ont declare les autorites. Un responsable local a declare qu'une partie des manifestants, jeunes pour la plupart, ont force l'entree du complexe parlementaire a Katmandou en brisant une barricade, incendiant une ambulance et lancant des objets sur les rangs de policiers anti-emeutes qui gardaient le batiment. La police avait recu l'ordre d'utiliser des canons a eau, des matraques et des balles en caoutchouc pour controler la foule, et l'armee avait ete deployee dans le quartier du Parlement pour renforcer les forces de l'ordre, a declare a Muktiram Rijal, porte-parole du bureau du district de Katmandou. "La police a tire sans discernement", a declare un manifestant a l'agence de presse ANI. "(Ils) ont tire des balles qui m'ont manque, mais ont touche un ami qui se tenait derriere moi. Il a ete touche a la main." Plus de 100 personnes, dont 28 policiers, ont ete soignees pour leurs blessures, a declare a l'officier de police Shekhar Khanal. Les manifestants transportaient les blesses a l'hopital sur des motos. Deux des 19 victimes ont ete tuees lorsque la manifestation dans la ville orientale d'Itahari a degenere en violences, a declare la police. Ce mouvement de protestations de la part de la jeune generation nepalaise fait suite a la decision prise la semaine derniere par le gouvernement de bloquer l'acces a plusieurs reseaux sociaux, dont Facebook. Les autorites ont justifie cette interdiction par le fait que ces plateformes ne s'etaient pas enregistrees aupres des autorites dans le cadre d'une campagne de lutte contre les abus, notamment les faux comptes utilises pour diffuser des discours haineux et des fausses informations. Le ministre de l'Interieur nepalais, Ramesh Lekhak, a demissionne du gouvernement, assumant la "responsabilite morale" des violences, a declare a apres une reunion du cabinet un ministre qui a souhaite rester anonyme, n'etant pas autorise a s'exprimer devant les medias. (Reportage de Gopal Sharma, redige par YP Rajesh ; version francaise Coralie Lamarque ; edite par Blandine Henault)
-
Spain bans Israel bound weapons ships and aircraft over Gaza
Spain banned Monday ships and aircraft that carry weapons to Israel to enter its ports or airspace in response to Israel's offensive against Gaza. The Israeli Foreign Minister called the measures antisemitic. Spain, which recognized a Palestinian State in May 2024, and has been vocal in its criticism of Israel's action in the Gaza Strip responded to Gideon Saar’s comments by calling back its ambassador in Tel Aviv for consultations. The government of Prime Minister Pedro Sanchez has announced that it will not allow anyone to enter Spain who is directly involved in the "genocide", in Gaza. Israel denies that its actions in Gaza constitute genocide. It is currently fighting a case before the International Court of Justice at The Hague in which it has been accused of genocide. Israel began its attack on the Gaza Strip after Hamas militants, who controlled the territory, had attacked Israeli communities and killed 1,200 people, while capturing over 250 hostages. Saar claimed that Sanchez was using these measures to distract attention from corruption scandals at home. He also announced an entry ban for Sanchez's deputy Yolanda Diz and Youth Minister Sira Regio. Both are members of the hard-left Sumar party, which is the junior partner to Sanchez's coalition. The Spanish Foreign Ministry has said that the entry ban imposed by Israel is unacceptable. It also stated that Sanchez's actions were in line and reflect Madrid's support of peace, human right and international law. Spain is committed to combating antisemitism. It cited the fact that 72,000 Sephardic Jews, descendants of those who were expelled from Iberian Peninsula during the 15th century, have been granted Spanish citizenship. The ministry issued a statement in which it condemned the "terrorist attack in East Jerusalem" that took place on Monday, in which Palestinian gunmen opened up at a bus station, killing six people including a Spaniard living in Israel. (Reporting and editing by Inti Latona and David Latona, Andrei Khalip, Helen Popper and Charlie Devereux)
-
China's demand for Russian ESPO crude oil keeps it firm despite increasing western sanctions pressure
The price of Russian ESPO blend crude oil for October loading cargoes remained stable as traders reported on Monday that the strong demand from China and abundant supply offset the growing pressure from Western sanctions. They said that cargoes loaded from the Far Eastern Port of Kozmino were sold for a premium of about $2 per barrel over ICE Brent, on a delivery-basis to Chinese ports. This was a little different from September's levels. Intense Ukrainian drone attacks have struck several major Russian oil refining facilities in the last few weeks. This has led to a decrease in feedstock processing and an increase in crude exports. The price stability is despite the new wave of Western sanctions targeting Russian oil exports. Last week, Britain, the European Union and other countries lowered the price of Russian crude oil from $60 per barrel to $47.60. Buyers were required to submit certifications within 30 days after loading in order to continue to have access to Western shipping and insurance services. The EU has announced its 18th package of sanctions, which includes a blacklist of dozens of entities. These include Indian refiner Nayara Energy as well as several Chinese companies accused of helping Russia to bypass restrictions. The measures tighten control on energy and technology exports, and ban fuels derived from Russian crude beginning in January 2026. Donald Trump, the U.S. president, announced on Sunday that he is ready to implement a second round of restrictions. The EU Council's Antonio Costa also said that new sanctions are being closely coordinated with United States. Traders have noted that Chinese oil demand remains strong, despite the threat of Western sanctions. Chinese buyers will also receive Urals and Arctic crudes via the Northern Sea Route in addition to ESPO. The latest step in the strengthening of financial ties between Beijing, Russia and the United States was taken on Friday when the Chinese rating agency CSCI Pengyuan gave its highest AAA-rating to the Russian oil and natural gas giant Gazprom, which is blacklisted by the U.S. A trader stated that ESPO premiums may soften if U.S. Tariffs drive Indian purchases lower and more oil flows into China. A trader said that because Urals and ESPO are different in quality, increased Urals flow may not have an impact on ESPO prices. Urals is a sour oil, while ESPO can be described as a light and low-sulphur type of oil. (Reporting and Editing by Joe Bavier).
-
Rosatom and Gazprom investigate sales of Chinese "panda" bonds
Sources from top Russian companies, including the vast Russian nuclear corporation Rosatom, and giant gas concern Gazprom, are looking at selling "panda bonds" denominated in yuan, according to company sources on Monday. Western capital markets, however, remain closed to Russia. Since Moscow's invasion of Ukraine in 2022, Russian companies are no longer able to access the capital markets of the West. The Financial Times reported Monday that China is preparing to reopen the domestic bond market for major Russian energy companies, as Xi Jinping & Vladimir Putin continue to deepen their partnership "without limits". Putin, who visited China this week, called for a joint financial infrastructure between countries in the 'Global South.' He also suggested that the members of the Shanghai Cooperation Organisation should sell their shares. Joint bonds The Chinese rating agency CSCI Pengyuan has assigned the highest AAA rating to Gazprom. This company holds the largest reserves of natural gases in the world. This opens the door for possible debt issuance on China's bond market. Rosatom, the largest nuclear company in the world, is preparing to also issue bonds denominated in yuan, according to a spokesperson. Ilya Rebrov, the Chief Financial Officer of Rosatom, told a publication in August that in order to raise funds from abroad, the Supervisory Board had approved plans. He also said that preparations were underway for Atomenergoprom's generation unit to issue bonds in Yuan. Atomenergoprom announced in April that it received a "AAA" credit rating from China's Dagong Global Credit Rating Agency with a stable outlook. The Chinese government will need to approve any Russian bonds, and the buyers of Russian corporate Yuan bonds must weigh the risks of secondary sanctions from the U.S. CHINESE BANK BONDS FOR RUSSIAN COMPANIES? According to Deutsche Bank, the market for Panda Bonds, a Chinese Yuan-denominated bonds from a non Chinese issuer, has seen record growth in both 2023 and 2024. This was driven by geopolitical conflicts. Even though the conflict in Ukraine began, only one Russian company - aluminium producer Rusal - sold panda bond. Companies have issued yuan bonds on the Russian market, which is a small and shallow one. The yuan currency has also become the most popular foreign currency in Russia. China's bond market offers a much larger reservoir of capital. Famil Sadygov, Gazprom's deputy CEO, said that the company was "strongly creditworthy" and the rating confirms the financial stability of the company. One source with direct knowledge about the situation said that a long-term issuer ratings on Gazprom would not necessarily result in an issuance of bonds denominated in yuan. "There's no certainty about the bond issue yet. A rating allows you to enter the market if necessary. "This is work for future," said the source. According to Kirill Lysenko, an analyst at Expert RA - Russia's oldest rating agency - the approval process will still take place, but it could take many years. Lysenko stated that "Chinese financial institutions and regulators can be under increased pressure at any time in the form secondary sanctions by major Western economies." Gazprom was given an "AAA" credit rating with stable outlook just after Russia, China and other countries gave their approval to Power of Siberia 2 - a huge gas pipeline linking both countries in a bid to reduce economic dependence on the West. Gazprom is unable to raise finance in the United States and Europe, but it has not been subjected to U.S. blockade sanctions. Rosatom's top management has been sanctioned by the U.S., but Rosatom itself is not subject to sanctions. CSCI Pengyuan cited high geopolitical risk in its analysis of Gazprom’s outlook and rating decision. (Writing and Addirional Reporting by Shanghai Newsroom, Editing by Kevin Liffey; Written by Gleb Bryasnki & Guy Faulconbridge)
Secret solar themes to track after torrid 2024 for investors: Maguire
Solar electrical power generation published its largest ever yearly increase internationally in 2024, yet numerous financiers in the solar sector are nursing heavy losses after share rates in major solar companies and exchangetraded funds collapsed.
The divergence in between generation and returns highlights the difficulty dealing with financiers who are seeking to benefit from exposure to the world's fastest-growing source of electrical energy.
Owning equity in companies participated in the production of solar elements or in the setup of panel systems at generation sites was considered a reliable methods of tapping continued development in renewable resource production and need.
But after the bankruptcy in August of the 40-year old U.S. company Sunpower - which both produced panels and set up solar systems - several significant solar equities racked up significant losses in 2024, requiring investors to reassess their exposure.
Moving forward, renewables remain at the heart of planned expansions in electrical power output worldwide, and planetary systems are still the fastest and most affordable method for utilities, companies and families to scale up tidy energy generation.
However solar panel makers and installers still deal with obstacles on numerous fronts - from affordable rivals, labour lacks and high parts and funding expenses - which suggests the solar sector may still deal with headwinds in 2025 and beyond.
Below are some crucial themes in the solar area that can help financiers comprehend the main developments that stand to form tidy energy financial investment return prospective moving forward.
LEADING LIGHTS
China stays the main chauffeur of solar electricity production worldwide, and over the very first 11 months of 2024 improved solar electricity output by a whopping 44% from the same months in 2023, according to energy think tank Coal.
The roughly 779 terawatt hours (TWh) of electrical power produced by China's solar farms from January through November was by far the greatest in any nation over that period, and helped China account for a record 41% share of global solar generation.
Europe was the second largest market for solar generation in 2024, producing around 338 TWh of solar electrical power for the year as an entire (a 17.6% share of global solar output), while the United States produced around 283 TWh (a 14.7% share).
Europe and the U.S. both produced record volumes of solar power last year, but both markets recorded declines in their international share of solar production as China's growth rate greatly outpaced all other nations.
DOWNSHIFT
Solar generation levels are anticipated to continue growing in 2025 and beyond, but at a slower speed.
In China, Beijing has presented quotas on new solar part production and on generation projects to control overcapacity, which should slow solar additions in your home.
Nevertheless, as China is by far the world's biggest manufacturer of solar parts and systems, further growth in Chinese solar item exports is most likely.
That might bring the nation into further conflict with trade partners, particularly in Europe which is the leading destination for Chinese solar exports however is where Chinese companies have currently been implicated of unjust trade practices.
Long-lasting weak economic development and high living costs are sowing extensive political acrimony throughout Europe, and are in turn stimulating more support for protectionist policies created to promote economic development in your home and protect local companies.
More economic weakness in early 2025 could likewise require cuts to federal government spending throughout Europe, which might in turn slow the development pace of renewable resource projects by government-run energies.
BUREAUCRACY REDUCTIONS?
While the pace of solar energy growth may slow in Europe and China, the development outlook in the United States is less clear.
Incoming President Donald Trump is a climate sceptic, has called some kinds of green energy production a rip-off, and is a. company supporter of improving domestic production of oil and. gas.
Nevertheless, his administration is also expected to speed up. approval procedures for raising total power output.
That indicates that while fossil fuel manufacturers may get the. thumbs-up to lift output, renewable energy suppliers may also. gain from shorter grid-connection times and broad assistance for. jobs that can quickly boost electrical energy output.
And as solar projects remain the quickest and most affordable method. to improve incremental electricity output across much of the U.S.,. solar developers might remain in high need even under a more. fossil fuel friendly administration.
That means that even with a possible slowdown in solar. growth in crucial markets such as China and Europe, solar will. stay an essential part of the generation mix in the United States,. and solar businesses will see continued need for their. services and products.
Stock pickers who can determine the solar firms probably. to win business from companies engaged in improving U.S. electrical power. materials need to in turn still have great development potential in. 2025, specifically from present historically low appraisals. The viewpoints expressed here are those of the author, a market. analyst .
(source: Reuters)