North America

According to a document reviewed, the Vietnam trade ministry issued a directive to crackdown on illegal transshipment of goods into the United States or other trading partners in order to avoid high U.S. Tariffs. In the directive, dated April 15 and in effect that day, the ministry said that trade fraud would likely increase due to growing tensions caused by U.S. Tariffs. It said that if fraud was not prevented it would "make it more difficult to avoid the sanctions that countries would apply to imported products" The directive didn't name specific countries from which transshipment fraud could originate. Vietnam...

Malaysia Airlines parent company, Malaysia Aviation Group is in talks with Boeing to acquire new jets if Chinese Airlines stop taking delivery, according to its managing director, who spoke at a Malaysian news outlet Bernama. Boeing is returning some 737 MAX aircraft to the U.S. after placing them in China before delivering to Chinese customers. It is unclear who made the decision, as neither Boeing nor China have commented on the reason for the return of the jets. Malaysia Airlines didn't immediately respond to our request for a comment. If Boeing delivery slots become available as a result of the...

The Boeing jet, intended for a Chinese carrier, was returned to the U.S. production center of the planemaker on Sunday. It is a victim the bilateral tariffs imposed by President Donald Trump as part of his global trade offensive. A witness said that the 737 MAX was intended for China's Xiamen Airlines and landed on Boeing Field in Seattle at 6:11 p.m. (0111 GMT). The Xiamen livery was on the aircraft. The jet was among several 737 MAX aircraft waiting for completion at Boeing's Zhoushan center before being delivered to a Chinese airline. This month, Trump raised the baseline tariffs...

The Indian electric taxi service BluSmart, a competitor to Uber, has suspended its services after an investigation by a market regulator found that a cofounder had misused funds in an affiliated company and purchased a luxury apartment using money meant for electric vehicles. BluSmart was a pioneer in India's clean-energy boom, but its abrupt suspension threatens the livelihoods of thousands of taxi drivers. It set up charging stations in cities such as New Delhi, Mumbai, and Bengaluru, where it had more than 8,000 taxis to compete with Uber and Ola. Both ride-hailing companies rely heavily on gasoline-powered fleets. BluSmart sent...

Malaysia Aviation Group (Malaysia Airlines' parent company) reported on Thursday a net income of 54 million Ringgit ($12.24million) for the 2024 financial period. Malaysia Airlines is still struggling to recover two deadly disasters In 2014, the airline temporarily reduced its capacity by 18% last year after it was You can find out more about it here The Malaysian civil aviation authority found several safety and maintenance problems. Izham Ismail, MAG's managing director, told a press briefing that despite the capacity cuts the passenger traffic remained strong in the premium segment. Both the passengers and the cargo segments had higher load...

Six sources claim that the Trump administration may soften its proposed fee for China-linked vessels visiting U.S. port after receiving a lot of negative feedback. The industries said it could be financially devastating. Six sources familiar with the issue said that the six changes being considered include a delayed implementation as well as new fee structures aimed at reducing the cost of visiting Chinese vessels. Sources asked to remain anonymous due to the sensitive nature of the subject. The White House, and the Office of the U.S. Trade Representative(USTR), the government agency involved in the draft of the proposal, have...

Barrick Gold’s Reko Diq gold and copper project in Pakistan plans to secure up to $2 billion from international lenders. Term sheets will be signed in early Q3, according the project director of the mine. The funding will be used to support the development and expansion of Reko Diq, one of the largest copper-gold deposits in the world. It is expected that the mine can generate free cash flows of $70 billion, as well as operating cash flows of $90 billion. The project is jointly owned by Barrick Gold, the government of Pakistan, and the government of Balochistan. Multiple lenders...

The looming tariffs by U.S. president Donald Trump could affect virtually all the goods exported to Vietnam's top market. These exports were worth over $142 billion in 2017, or around 30% of Southeast Asia's GDP. Vietnam was a beneficiary of the trade war Trump waged against China during his first term. However, Vietnamese officials and companies abroad are unsure how they will do under the new tariffs Trump has announced will go into effect on Wednesday. Vietnam, with a surplus of $123.5 billion and meeting several criteria, has the biggest trade surplus with the U.S. Here are some measures that...

Boston Consulting Group's (BCG) report on Thursday found that the sustainable aviation fuel industry (SAF) is not meeting its 2030 targets because production hasn't ramped up fast enough. This year, European airlines will be required to use 2% SAF in their jet fuel. By 2030, this mandate is expected to increase to 6%. Many have complained about the cost of the fuel which is usually three to five time more expensive than conventional jet fuel. The report revealed that airports and airlines are only investing 1%-3% of their budget or revenue into SAF. High production costs and fuel price remain...

Airbus gave an early glimpse at the technologies that will be used in its next aircraft, which is expected to replace its most popular A320neo. The new plane should enter service within 10 to 15 years. Guillaume Faury, who will begin his third three-year tenure as CEO in a few weeks, faces a key decision: when to replace industry's best-selling model that competes with Boeing 737 MAX's 737 MAX on the busiest market segment. Airbus claimed that the new aircraft would be 20-30% efficient than the A320neo. NASA in the U.S. has announced that it is developing a rival configuration...

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch for the accuracy of these reports. Headlines Wood Group to continue takeover talks with UAE-based Sidara Heathrow's National Grid chief claims that the airport had "enough power" despite the fire shutdown Malaysia cracks down on Nvidia chips under US pressure James Hardie will buy Azek, a building products company for almost $9bn View the full article After a failed takeover attempt six months earlier, the British oilfield engineering and services firm Wood Group agreed to extend its deadline for talks....

The Australian share market fell to a near seven-month-low on Tuesday. This was due to a decline in financial stocks. It followed a global drop in equity prices after uncertainty over tariffs imposed on the U.S. by President Donald Trump raised concerns of a possible recession in Australia. Qantas also fell as it began trading ex-dividend. The S&P/ASX 200 Index fell 1.5%, reaching 7,843.80 at 2356 GMT. This is its lowest level since 2024. U.S. stocks fell overnight. The S&P 500 registered its largest one-day decline since December 18, 2024 and the Nasdaq, which is heavily loaded with tech, dropped...

Troels Poulsen, the Danish Defence Minister, said that Denmark would spend approximately 4 billion crowns (614 million dollars) to build and purchase 26 navy vessels. These vessels will be used for patrolling, oil-spill response, and surveillance of underwater cables. The Baltic Sea countries are on alert following a series of power outages, telecom links, and gas pipelines, since Russia invaded Ukraine in 2022. This includes sabotage to the Nord Stream pipelines. Russia has denied that it is behind the outages. NATO has increased its military presence by adding aircraft, frigates and naval drones. The so-called "shadow fleet" - Russian vessels...

Environmental groups in the United States say they're hiring lawyers and getting ready for a legal battle with the Trump administration, which is attempting to bypass federal regulations regarding oil, gas, and coal development. The preparations are a test of the Trump administration’s strategy, which has been relying on executive orders and emergency powers to cut down what they see as obstacles to an increase in fossil fuel energy. Trump has issued an executive directive directing agencies that they must sunset all existing energy regulations by the end of next year. In a separate memo, he said agencies could repeal...

Phillips 66 wrote in a Monday letter that activist investor Elliott Investment Management must abandon its efforts to split up the energy company Phillips 66, as it has a conflict of interest with a separate attempt to buy one of Phillips 66's competitors. This salvo is part of a bitter spat that will reach a boiling point at a shareholders meeting next month. Phillips 66 argued against Elliott's thesis of break-up in the letter by claiming that the investment firm had a conflict due to its separate attempts to purchase Citgo Petroleum. Citgo's parent is being sold through a court-supervised...

After a blackout that affected the entire island on Wednesday, Luma Energy reported that it had restored power to approximately 41.5% customers by Thursday. Luma stated on its website that approximately 609,711 customers of its 1.5 million had service by 6:25 am local time. Luma Energy released a statement saying that its crews would continue to work throughout the day in order to restore service for 90% of their customers within 48 hours. The blackout is the latest of a string of major blackouts in the U.S. territory, since the grid was destroyed by Hurricane Maria last year, and had...

Kinder Morgan, the U.S. operator of pipelines and terminals, narrowly missed Wall Street's expectations for its first-quarter profits on Wednesday. This was due to a decline in its pipeline products segment and increased costs. The energy industry is bracing for the impact of U.S. president Donald Trump's tariffs against most Canadian and Mexican imports. These include levies on imports of steel, "reciprocal tariffs" on other nations as well as falling oil prices. Kinder Morgan, however, left its profit forecasts unchanged because it continues to bet on a rise in the demand for natural gas. The terminal operator said that tariffs...

The U.S. Army Corps of Engineers granted Enbridge the national energy emergency status on Wednesday for its proposed tunnel for Line 5 pipeline, expediting a crucial federal permitting process. As part of his emergency energy declaration of January 20, President Donald Trump ordered the Army Corps of Engineers to issue permits for the filling of wetland areas and the dredging of waterways or construction in them. This was to expand U.S. production of energy to meet the projected demand. The Army Corps is a federal engineering agency that has the authority to approve projects involving waterways and wetlands. The Army...

The head of Germany's grid regulator announced on Tuesday that the A-Nord link had been approved. This means it will be operational in mid-2027, as part of a major infrastructure upgrade for transmitting wind energy from north to south of the nation. Klaus Mueller, President of the Bundesnetzagentur said he expects approval for a Second Line, Ultranet, to be granted in the second half year. This will show "the rightly anticipated network expansion is accelerated and made a reality". Mueller oversees the construction of 9,600 km (5,965 mi) of high voltage grids that are needed to help Germany use more...

An industry source said that Kazakhstan's oil production fell during the first two weeks in April compared to the average for March, but it is still higher than the OPEC+ quota after months of overproduction. Sources said that the central Asian country's crude oil production, excluding the gas condensate was down by 3% between April 1-13 compared to the average of March at around 1.82 million barrels a day. This is due to a decline at the Chevron Tengiz Field, they added. Kazakhstan, a country in the top 10 oil producers, has consistently exceeded the quotas established by OPEC+. This...

Three people said this week that Calgary-based South Bow, a pipeline company, has reduced the size of the crude trading team in order to increase the volume of oil sold under contract via its pipeline systems while reducing the amount of crude traded. South Bow was spun off from Canadian pipeline company TC Energy as part of a strategy to reduce TC's debt in October 2024. South Bow fired two traders on 4 April, the people reported. TC Energy had already laid off a member of its team in June 2012, before the spin-off. The crude trading team has been...

South Bow said it plans to restart Keystone by Tuesday, April 15th, the company announced on Saturday. It shut down the main conduit for the flow Canadian oil into the U.S. because of an oil spillage in North Dakota. South Bow needs to receive written approval from U.S. Pipeline and Hazardous Materials Safety Administration, or PHMSA, must approve the restart of the pipeline before it can be done. Keystone will continue to operate in the U.S. at reduced rates even after it is restarted, according to the company. This is due to a Friday corrective action order from the PHMSA....

U.S. regulators have said that there may be structural problems with the Keystone Pipeline. They issued a corrective order to its operator South Bow Corp. after an oil spill occurred in North Dakota earlier this week. This shut down the main conduit for Canadian oil flowing to the U.S. South Bow must receive written approval from U.S. According to an order published on Friday, the Pipeline and Hazardous Materials Safety Administration must approve the restart of the pipeline before it can proceed. The order states that even after Keystone restarts, it will still have to operate at a reduced rate...

Three people said this week that Calgary-based South Bow, a pipeline company, has reduced the size of the crude trading team in order to increase the volume of oil sold under contract via its pipeline systems while reducing the amount of crude traded. South Bow was spun off from Canadian pipeline company TC Energy as part of a strategy to reduce TC's debt in October 2024. South Bow fired two traders on 4 April, the people reported. TC Energy had already laid off a member of its team in June 2012, before the spin-off. The crude trading team has been...