North America

Union Pacific CEO Jim Vena stated on Wednesday that he is confident the railroad operator will receive approval for a merger from the U.S. government over its deal to acquire Norfolk Southern. Union Pacific announced in July that it would acquire the smaller competitor for $85 billion, including cash and stock. If approved, this acquisition would make the United States' first coast-tocoast freight rail operator. Vena, speaking at the Morgan Stanley Conference in New York, said that he had met with high-ranking officials of the government who called the deal "a win for the country". Do I think that we...

The U.S. IPO Market is set to have its best week in 2021, as ebullient equities fuelled by robust debuts of notable newcomers are driving the market. renewed enthusiasm After tariff-driven volatility in the early part of the year, the long-awaited recovery was held up by new issues. The Winklevoss Twins' crypto-exchange Gemini and Swedish fintech Klarna are both set to list shares this week in New York, while StubHub will be going public next week. Many would-be issuers are encouraged to test investor interest by the eye-popping performance of high-profile names. In the days after their debuts, the IPO...

The first public deployment of the partnership will be launched by ride-hailing app Lyft, and the autonomous vehicle startup, May Mobility, in Atlanta on Wednesday. Customers can hail Toyota Sienna vans retrofitted with May Mobility's May Mobility app on routes around Midtown Atlanta for fares that are comparable to normal rides. Companies will begin with a small fleet and have trained operators in the vehicles to answer any questions or take over if necessary. The rollout highlights Lyft’s efforts to integrate autonomous rides into its app via partners, including Baidu in Europe, and Mobileye. This is even as robotaxi companies...

Poland shoots down drones It was the first time that a NATO member fired shots in Russia's conflict with Ukraine. Poland reported that 19 objects entered its airspace as part of a Russian air strike on Ukraine. It said it shot down any that were a danger. Donald Tusk, the Prime Minister of Poland, said that he activated Article 4 of NATO's Treaty. This allows members to demand consultations from their allies. Tusk said, "We're dealing with a provocation of a very large scale." "We are prepared to repel such provocation." "The situation is grave, and there's no doubt that...

According to the U.S. Federal Aviation Administration (FAA), Poland closed four airports, including the main Chopin Airport at Warsaw, on Wednesday after Russia launched drone attacks near the border with neighbouring Ukraine. In a posting on X, the Polish armed forces stated that military aircraft were activated in order to ensure safety of airspace. However, there was no confirmation from the command as to whether any airports were closed. The military's operational control posted on X that "Polish aircraft and allied aircraft operate in our airspace while ground-based radar reconnaissance and air defence systems have been brought up to the...

The U.S. Justice Department announced on Tuesday that it had dismissed a lawsuit filed against Norfolk Southern, after the company agreed to give Amtrak passenger train "highest priority" in comparison to freight trains. In a press release, the Department of Transportation said that the settlement reached with Norfolk Southern Corp. and Norfolk Southern Railway Company resolved allegations that the transport firm delayed passenger trains along Amtrak’s Crescent Route from New York City to New Orleans in violation federal law. Norfolk Southern, which controls 1,140-miles of rail on the Crescent Route, dispatches all trains, including those it operates, along this segment....

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...

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...

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...

Trans Mountain, the Canadian pipeline operator, expects the dredging work at the Vancouver port to be finished by the end of 2026, or in early 2027. This will allow ships load more oil, according to a senior executive on Monday. Jennifer Pierce, Chief Administrative Officer of Trans Mountain, said this at the APPEC Conference in Singapore. When this dredging project is finished at the end or beginning of 2027 (end of '26), an Aframax could move out of the dock with 100% of its cargo. This will boost our shippers' competitiveness. Aframax tanks can transport up to 800 000 barrels....

Federal Aviation Administration announced on Friday that it would extend the ban on U.S. flight to Port-au-Prince, Haiti's capital city, through March 7 due to risks posed by armed groups for civil aviation. The FAA temporarily stopped all flights into Haiti in November but allowed flights to resume at six other airports around northern Haiti following the gunfire that hit three U.S. commercial aircraft. The restrictions were set to expire in one week. U.S. planes are allowed to fly over Port-au-Prince at a height of 10,000 feet (3,048 meters). Last year, the agency allowed American carriers to resume flights at...

In a Thursday notice, the Trump Administration announced that the Federal Aviation Administration will propose changes in order to accelerate certification of new commercial aircraft. The FAA announced that it will propose changes by December "to modernize certification standards for aircraft and propulsion systems of the transport category." The FAA said that the initiative will be de-regulatory, reducing the number "of exemptions, special conditions and equivalent level safety findings required during certification." Mike Whitaker told reporters in December that the FAA wanted to streamline the aircraft certification process and was working on using "better technologies" to do so. The FAA...

Energy developer Glenfarne has agreed to supply Japan's largest power generator JERA with 1 million metric tons LNG per year for 20 years. This is a significant advance for the $44 Billion Alaska LNG Project, which had been criticized for its high cost. Glenfarne aims to make a final investment decisions (FIDs) on the Alaska LNG pipeline by the end of 2025, and for the LNG export components in 2026. Glenfarne, which acquired a 75% stake in the Alaska LNG Project in March and assumed the role of lead developer, has already signed preliminary agreements that cover more than half...

Two sources who have direct knowledge of this matter said that a group of investors, led by BlackRock’s Global Infrastructure Partners, is in discussions with lenders in order to secure financing of up to $10 billion for Aramco’s Jafurah deal. Two sources confirmed that JPMorgan, Japan's Sumitomo Mitsui Banking Corporation, and other banks are in discussions to take part in the transaction. This will allow Aramco the opportunity to receive cash up front in exchange for regular payments. They declined to name the individuals because it was not public information. Aramco BlackRock JPM and SMBC all declined to comment. Aramco...

U.S. officials have said that solar-powered highway infrastructure, including chargers, weather stations at roadside, and traffic cameras, should be scanned to detect rogue devices, such as hidden radios, secreted within batteries and inverters. The Federal Highway Administration of the U.S. Department of Transportation issued the advisory late last month amid an escalating campaign by government officials to address the use of Chinese technology on America's transport infrastructure. The four-page note on security, which was reviewed, stated that undocumented radios were found "in certain power inverters manufactured by foreign manufacturers and BMS," meaning battery management systems. The note was not reported...

U.S. Federal Aviation Administration has issued a safety warning to airlines on Tuesday, citing an alarming number of incidents involving lithium batteries. The FAA has recommended that airlines implement risk mitigation strategies. This includes clear messaging about potential fire risks associated with lithium batteries carried by crew and passengers, and reviewing firefighting training and procedures. The FAA reported that 50 incidents of lithium-ion batteries causing extreme heat, smoke or fire have occurred in the U.S. this year. Some of these have caused accidents or injuries. A cell phone that was being used by a passenger on an American Airlines flight...

Argent LNG, a U.S. energy company, has signed a deal to supply 5 million metric tonnes of gas per year with Enerji Piyasalari Isletme AS in Turkey. The move is aimed at supplying U.S. natural gas to Europe and possibly Syria. Argent LNG is building a liquefied gas export facility in Louisiana. In January, it signed a nonbinding agreement with Bangladesh to supply up to 5,000,000 metric tons annually of this fuel. This was the first significant U.S. LNG deal since U.S. president Donald Trump started his second term. The press release stated that "the company has committed to an...

Two sources familiar with the matter confirmed that Japan hired Wood Mackenzie, an energy consultancy, to assess the proposed 800-mile Alaska gas pipeline project and LNG plant. This is a sign of its support for the $44billion project pushed by U.S. president Donald Trump. One of the sources said that the assessment could ease concerns of potential Japanese investors and off-takers about a project which has been stalled for decades because of cost and logistical issues. It is not clear what the scope of the Wood Mackenzie deal is, nor if any report that results from it will be public....

According to a filing made by the company with the state's environmental regulators and data from LSEG, a financial firm, Freeport LNG is on track to receive more natural gas at its Texas export plant on Monday. This indicates that a liquefaction station that was shut down on Saturday will likely be back in operation. Freeport LNG is closely watched by the global market because its start-ups and stop-offs often cause price fluctuations. Gas prices in the United States typically fall when flows to Freeport decrease due to a lower demand for fuels from the export facility. Prices in Europe...

Two sources familiar with the matter confirmed that Japan hired Wood Mackenzie, an energy consultancy, to assess the proposed 800-mile Alaska gas pipeline project and LNG plant. This is a sign of its support for the $44billion project pushed by U.S. president Donald Trump. One of the sources said that the assessment could ease concerns of potential Japanese investors and off-takers about a project which has been stalled for decades because of cost and logistical issues. It is not clear what the scope and cost of this deal will be, nor if any report that results from it will be...

Ukrainian officials reported on Sunday that Russia had launched the largest air strike of the war against Ukraine over the weekend, causing the main government building in central Kyiv to catch fire and killing four people including an infant. Volodymyr Zelenskiy, the president of Ukraine, said that the drone barrage and missiles killed four people, and caused extensive damage in the north, the south, and the east of the nation, including Zaporizhzhia and Kryvyi Righ, Odesa and Sumy, and Chernihiv. Zelenskiy, in a recent post on X.com, said that such killings are a deliberate act and a war prolongation. He...

According to an initial report, a problem with a cable caused a Lisbon funicular rail popular with tourists, to hurtle down the hill. It crashed into a house, killing 16 people, and injuring 22 others. After leaving the track, the yellow tram-like carriage that carries people up and over a steep slope in the Portuguese capital hit a building on Wednesday. It was only a few metres away from its identical twin at the base of the steep hill. The Office for Air and Rail Accident Investigations in Portugal released on Saturday its first investigation report into the crash. The...

Robert Brovdi said that the Ukraine had attacked the Druzhba pipeline in the Russian region of Bryansk, causing "comprehensive damage" to the oil pipeline. The reports could not be independently verified. Russia has not yet responded. The transit pipeline provides Russian oil to Hungary, Slovakia and other European Union countries, who continue to purchase energy from Russia even after the 2022 invasion of Ukraine. Kyiv claims that its attacks on Russian energy targets are a response to Moscow’s continuing attacks against Ukraine. They aim to undermine their adversary’s war effort. In recent weeks, Ukrainian attacks on the pipeline that runs...

Energy chief of the European Union said on Friday that the EU is committed to its plan to phase out Russian crude oil by 2028. He added that Washington had not pressed him to move this deadline forward. White House official: As U.S. president Donald Trump works to end Russia's conflict with Ukraine, Trump told European leaders to stop buying Russian crude oil on Thursday, but did not specify a specific date. Fuel revenues, as Russia's most lucrative exports have helped Moscow fund its war. The European Union is currently negotiating legal proposals that will phase out EU imports of...