North America

Palliser Capital urges LG Chem to buy back its shares and refresh its board. It argues that these changes and others could increase the share price by more than twofold. James Smith, founder and chief investment officer of Palliser, said that investors view the South Korean chemical firm as a struggling company in petrochemicals, and dismiss its battery business. This was stated at the 13D Monitor Active Passive Investment Summit held in New York. LG Chem's shares, despite their strengths, have fallen 20% in the past 12 months. They have also lagged behind its peers. Smith said, "This is insane,...

The National Transportation Safety Board chair said Tuesday that it is possible a weather balloon cracked the windshield of United Airlines' jet at 36,000 feet and caused an emergency landing. WindBorne Systems released a statement on Monday night stating that they believe one of their balloons hit United Flight 1093 (a Boeing 737 MAX) on Thursday, over Utah. Jennifer Homendy, Chair of the NTSB, said that the board has received the report and is reviewing it in the course of its investigation. She stated that the incident, "in the wrong circumstances could have been really disastrous for the aircraft and...

Air T, a U.S. aviation service provider, announced on Tuesday that it had signed a contract with Regional Express Holdings' voluntary administrators to purchase the failed Australian regional airline Rex. The transaction was backed by Australia. Air T would take over Rex, the regional airline that has been struggling to compete against larger rivals Qantas or Virgin Australia. Air T stated that the deal will include a restructuring of Rex’s financial arrangements with the Australian Government and should be completed by the end the year. Air T, a company that provides air delivery for companies such as FedEx, has announced...

The U.S. Senate Commerce Committee voted unanimously on Tuesday to approve aviation legislation following a deadly January crash involving a regional American Airlines jet and an Army helicopter which killed 67 people. The bill mandates that aircraft operators equip their fleets by 2031 with ADS-B, an advanced aircraft-tracking system. It also includes other safety reforms such as enhancing oversight of mixed jet-and-helicopter traffic and flight paths near commercial service airports. The Army Black Hawk involved in the fatal crash did not use ADS-B. Ted Cruz, the chair of the Senate Commerce Committee, said that this bill "closes an unsafe loophole...

Airbus will open its second assembly line in China this week with little fanfare, just days after it secured a foothold in the United States, as it navigates a tightrope of divided trade powers. Airbus will be able to manufacture more of the popular A320neo family single-aisle aircraft in Tianjin, near Beijing, after adding a second production line just a few days ago in Mobile, Alabama. The expansion this week will be relatively low-key, with no Western media permitted. This is in contrast to the high-profile ceremony that took place 15 years ago at Tianjin, which involved 600 guests. Airbus...

RTX has raised its revenue and profit forecast for the full year on Tuesday. The aerospace and defense company is confident in its ability, in light of the rising demand for missiles and its aftermarket services, to weather the effects of tariffs. The company's shares rose 6.3% in the morning, beating Wall Street's expectations for the third quarter. The Trump administration’s trade war pushed RTX in July to cut its profit forecast and anticipate $500 million in tariffs costs for this year. A shortage of new commercial aircraft has driven sales for maintenance and repair services providers like RTX. They...

RTX has raised its revenue and profit forecast for the full year on Tuesday. The aerospace and defense company is confident in its ability, in light of the rising demand for missiles and its aftermarket services, to weather the effects of tariffs. The Trump administration’s trade war pushed RTX in July to cut its profit forecast and anticipate $500 million in tariffs costs for this year. A shortage of new commercial aircraft has driven sales for maintenance and repair services providers like RTX. They are betting on airlines that have older fleets with high costs. RTX, a company that makes...

Air France-KLM CEO said that on Monday, western European airlines needed more favorable regulation as the requirement to fly around Russian airspace places them at a disadvantage compared to their Chinese competitors. Ben Smith, CEO of Air France-KLM, said in an interview with the German newspaper Frankfurter Allgemeine Zeitung as well as with French newspaper Les Echos and Lufthansa Group CEO Carsten Schohr that having to avoid Russia adds two to two-and-a half hours to flights from Europe to Asia. All costs associated with the extra flight time are to be paid by the customer. Smith added that customers don't...

Archer Aviation announced on Monday that it had signed a partnership agreement with Korean Air for the commercialization of its electric air taxis throughout South Korea. The potential purchase of 100 aircraft is possible. The deal reflects a race between electric vertical takeoff and landing developers who are racing to secure airline partners, win regulatory approvals and move from prototypes into paid service. Early U.S. trading saw shares of Santa Clara-based company rise 6%. Aerospace startups and incumbents are both promoting short-haul flights and airport transfers to replace congested ground transportation. However, the sector is still battling certification issues, infrastructure...

The U.S. National Highway Traffic Safety Administration said Monday that it had opened a preliminary investigation into approximately 2,000 Waymo autonomous vehicles following reports that the robotaxis of the company may not have followed traffic safety laws near stopped school buses. This is the latest federal investigation of self-driving technologies as regulators examine how driverless technology interacts with pedestrians, bicyclists and other road users. NHTSA stated that the Office of Defects Investigation initiated the review following a media report about an incident where a Waymo self-driving vehicle failed to remain stationary as it approached a school bus while its red...

These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. The Colombian president Gustavo Petro has accused the United States (US) of killing an innocent fisherman during an attack on a boat the US authorities claim was carrying illegal drugs. This led President Donald Trump on Sunday to announce that he will cut off all assistance to Colombia, and impose new duties on its goods. China's National Bureau of Statistics announced on Monday that the economy grew by 1.1% in the...

As the U.S. Government shutdown entered its 19th day, the Federal Aviation Administration reported late Sunday that staffing problems in air traffic control were causing delays at airports such as Dallas, Chicago Atlanta and Newark. Flights could be delayed due to air traffic controller absences in Las Vegas or Phoenix. FlightAware reported that more than 5,800 flights were delayed on Sunday. Flights were also affected by weather issues and the Formula 1 race held in Austin. FlightAware reports that more than 20% of American Airlines flights and Southwest Airlines flights were late on Sunday. The government shutdown is forcing 13,000...

CSX's third-quarter revenue and profit were above Wall Street expectations on Thursday, as improved intermodal volumes and increased pricing in merchandise offset the impact of lower coal prices. The railroad operator saw its shares rise 3% after the announcement. The East Coast Railroad Company has been hampered by the weakness of the coal market due to the lower demand for energy as consumers switch to natural gas. In a recent earnings call, COO Mike Cory stated that "our domestic coal business continues with steady trends throughout the year." After President Donald Trump signed an executive order earlier this month to...

Wall Street fell on Thursday as signs of weakness among regional banks frightened investors who were already on edge due to the U.S. - China trade tensions. Zions Bancorporation shares fell after the regional lender disclosed an unexpected loss in two loans made to its California division. This added to investor anxiety about hidden credit pressure as lenders navigate economic uncertainty while interest rates are still relatively high. Western Alliance's slump also fueled concerns about regional banks after it announced it had initiated a lawsuit for fraud against one of their borrowers. Investors were watching the S&P 500, which recently...

J.B. Hunt shares rose 16% on early Thursday trading after a $100-million cost-cutting programme helped the company overcome a long-lasting freight downturn to increase its third-quarter profits. Since 2022 the trucking industry has been struggling with overcapacity, falling freight rates and only modest growth of shipment volumes. J.B. Hunt was able to protect its margins in the third quarter, thanks to a cost-saving program that aimed to save $100 million a year. This included route optimization, lower overhead, and administrative expenses. Analysts at Evercore ISI applauded this performance and called it a J.B. Hunt specific outcome, which establishes an increased...

J.B. Hunt Transport Services, a U.S. trucking company, reported on Wednesday a 12% increase in its third-quarter profits. This was due to ongoing cost-cutting initiatives taken in response a downturn in freight in the industry. After-market trading saw a 11% increase in the shares of the company. Since 2022, the trucking industry is in decline, due to excess capacity, declining freight rates and a modest increase in shipment volume. Experts predict that the recession will continue, and that tariffs imposed on U.S. President Donald Trump by Trump's administration will add pressure to the situation. This could delay recovery. The Arkansas-based...

Tritax Big Box announced on Monday that it had agreed to purchase Blackstone's UK logistic assets for 1,04 billion pounds ($1,39 billion). The U.S. Private Equity firm will take a 9% share in the London listed real estate investment trust. Recently, two UK-based companies engaged in a bidding battle over Warehouse REIT. In the UK, the real estate investment trust sector (REIT) has undergone significant consolidation over the last two years. Warehouse landlords, investment firms and other companies are capitalizing on the growing demand for quick delivery by increasing occupancy rates and securing increased rents for logistic spaces in UK...

Silver, which flooded the United States in the early part of this year because of fears about tariffs on imports, is likely to return to London's physical market where shortages of metal have driven the spot price over U.S. Futures. Silver was shipped to the United States by traders who wanted to avoid possible tariffs. This is because it was included on a list of critical minerals for the United States in September. The move is part of an effort to secure domestic supply chain for key metals. Silver spot was around $50.10 an ounce Friday after reaching a record...

New data indicates that recruiters are returning to the basics when it comes to hiring directors for top U.S. firms. Boards want experienced people to help them tackle issues like artificial intelligence or President Donald Trump’s tariffs. These trends are also a departure from the focus boards used to have on recruiting younger directors or those with more diverse backgrounds. According to a report released on Tuesday by Spencer Stuart, the executive search firm and leadership advisory, incoming directors of S&P 500 companies are averaging 59.1-years-old. This continues a trend that has been increasing for years. In addition, 30% of...

IKEA acquired U.S. logistic technology firm Locus on Tuesday. The Swedish furniture retailer claimed that the deal would improve its delivery to customers, as it expands online sales. This acquisition is part of a $2.2billion push by Ingka Group - the largest global IKEA franchisee - in the U.S., where it is competing with Wayfair and Walmart, and also has to contend with increased tariffs on imported goods that increase its costs. IKEA refused to reveal the value of the transaction. Locus' most recent funding round, in 2021 was reported to have valued the company at $300 million. IKEA claimed...

FedEx announced on Monday that it had appointed Marshall Witt, a former executive of the company, as finance chief for its freight trucking division. Witt will take up his new position effective October 15. This completes the leadership team in the division which is due to be spun off in 2026. The parcel carrier announced that Brad Martin, an insider, would be the new chairman of its less-than truckload division and veteran executive John Smith will serve as its CEO. The appointment completes soon-to-be-independent FedEx Freight's leadership lineup. Analysts have said that the segment has been undervalued by FedEx despite...

A major Australian pension fund, Aware Super, has said that it will continue to invest in U.S. real estate, as they are confident of the long-term economic fundamentals, and that domestic consumption levels, won't be affected by current political volatility. One of Australia's largest pension funds (A$190 billion, or 125 billion dollars) announced this week it will be embarking on an $1.3 billion venture to purchase a U.S. Industrial Property Fund that owns three Los Angeles logistics sites. Superannuation funds, Australia's compulsory retirement saving scheme worth A$4.1 trillion (US$2.7 trillion), are turning more and more to international investments for higher...

Mexico's automotive industry has warned of "complexity" in the future of the United States-Mexico-Canada Agreement. Executives cited concerns about tighter rules for origin and the scrutiny of Asian components. Heavy-vehicle makers expressed their concerns at the CIAN Automotive Conference about adapting to current rules while meeting USMCA requirements. To qualify for tariff-free entry, the agreement requires that a percentage of vehicle components originate in North America. Rogelio Garca, president of the National Association of Bus, Truck and Tractor Truck Manufacturers, (ANPACT), said that the current rule is not feasible, given the fact that components are often imported multiple times prior...

The latest funding round for Swedish self-driving vehicle startup Einride raised $100 million from investors including asset management company EQT Ventures, and quantum computing firm IonQ at an undisclosed value. The company said that the capital would allow them to expand their customer base, develop new technology and scale up the deployment of their autonomous freight trucks. Self-driving trucking technology is a promising way to grow the long-haul and freight industry. However, it faces regulatory scrutiny. As they follow fixed routes, usually on highways with no pedestrians or intersections, self-driving services do not require as much mapping. Einride will raise...