North America

In response to a chronic shortage of air traffic controllers in the United States, the Office of Inspector General of U.S. 'Transportation Department announced on Thursday that it would open a?a??probe into high failure rate among air traffic control training trainees. The Trump administration has promised to act to combat a chronic shortage of air traffic control personnel. About 3,500 air traffic control positions are not filled by the FAA. The FAA's air-traffic control training academy is facing serious problems. Many of its trainees are working six-day work weeks and mandatory overtime. Inspector General said that "attrition, retirements and 'program...

Three Democratic U.S. Senators asked Thursday the Transportation Department if the head the Federal 'Aviation Administration had sold 'his -shares in Republic Airways, and if he would be forced to forfeit any gains resulting from not selling before a divestment deadline. Bryan Bedford, FAA Administrator, said in 'December that he had not sold his shares of Republic. However he would continue to recuse him from any issues which could affect the airline's finances while he worked to sell his holdings. Senator Maria Cantwell claimed that Bedford, the former CEO of Republic Airlines, violated his ethics agreement because he hadn't completed...

The Financial Times reported that two Canadian pension funds plan to sell their stakes at Associated British Ports (ABP). They hope the deal will value the UK's largest ports operator for more than 10 billion pounds ($13.63billion). The newspaper reported that Morgan Stanley was hired by the Canada Pension Plan Investment Board, which owns?34%, and Ontario Municipal Employees 'Retirement System, which owns?33% of ABP to?explore a possible sale of their stakes. The report also said that Hermes Asset Management, which owns 6% of a group, could sell its stake. Could not confirm immediately the report. ABP, CPPIB, and OMERS didn't...

The companies announced on Wednesday that Union Pacific, a railroad operator, and Wabtec - a locomotive parts manufacturer - had signed a $1.2 billion agreement to modernize the AC4400 locomotives of the railway. The companies describe the agreement as "the largest locomotive investment in rail history." It is expected to begin deliveries by 2027. U.S. rail fleet replacement has been accelerated under the Biden administration, with infrastructure investments. Operators are replacing aging locomotives by more fuel-efficient and digitally enabled models. According to the companies, the fleet upgrade will reduce fuel consumption by more than 5% and increase locomotives' tractive efforts...

Skyryse, a U.S. aviation tech company, announced on Tuesday that it had raised $300 million as part of a funding round?that valued the company at $1.15billion. The series C 'round was led by Autopilot Ventures & Fidelity Management & Research Company. ArrowMark Partners, Qatar Investment Authority and others also participated. Investors are increasingly interested in autonomous flight systems that reduce pilot workload, operational costs and improve safety. This is expected to increase demand for these technologies. Founded in 2016, Skyryse provides software-and-hardware aviation solutions and has developed ?SkyOS, a flight system that replaces conventional mechanical controls with a simplified interface...

After an incident that occurred?on?Tuesday, in which Iranian gunboats approached U.S. flagged tankers in the strategic waterway to the north of Oman, it has been brought back into focus. The U.S. Military also announced on Tuesday that it had shot down a?drone? from Iran which "aggressively approached" its Abraham Lincoln aircraft carriers in the Arabian Sea. This is the most visible part in a U.S. buildup of military forces in the Middle East. Analysts have said for years that an escalation of tension in the region may lead Tehran to try to close the strait, or target the tankers. Here...

Hong Kong-based CK Hutchison announced on Wednesday that its Panama Ports Company division has initiated international arbitration proceedings against Panama, after a Panamanian court annulled the company's licences to run two?Panama Canal port. Panama's Supreme Court canceled last week CK Hutchison’s contract to run two Panama Canal Ports at the core of a $23 billion deal?to sale the Hong Kong conglomerate’s global port assets. Court said that the contract of Panama Ports Company, a subsidiary of CK Hutchison, violated 'Panama’s 'constitution because it gave the company exclusive tax exemptions and privileges. Analysts said that it is difficult to predict how...

China warned Panama that it would pay "heavy" prices if a court decision in Panama annulled the contract of Hong Kong's CK Hutchison to operate?two port at the Panama Canal. China's Hong Kong & Macau?Affairs Office branded the ruling of Panama's Supreme Court as "absurd", "shameful, and pathetic" and vowed that it would defend the interests Chinese firms. The Panamanian authorities didn't immediately respond to our request for comment. The court's ruling last week invalidated a contract held by Panama Ports Company (a CK Hutchison subordinate) since the 1990s to operate container terminals on the Pacific and Atlantic entrances of...

Shipping data shows that Venezuelan oil exports increased to 800,000 barrels a day (bpd), from 498,000 in December. This was after the U.S. captured Nicolas Maduro, and the end of a blockade on oil, which allowed traders to carry the majority of exports. Washington imposed a crude oil embargo against the U.S. sanctioned country to put pressure on Maduro in December and seized 7 tankers. The blockade caused the accumulation of 40 million barrels crude oil and fuel in tanks and vessels onshore that couldn't be exported, forcing Venezuela's state energy company PDVSA (the Venezuelan government-owned energy company) to reduce...

According to a statement released by Cargill in response to questions on Monday, protesters are blocking the entrance to its?Santarem terminal in northern Brazil. Cargill denies any occupation of their facilities by protesters identified by local media, as Indigenous groups. Cargill's terminal in?Santarem handles corn and soybeans. According to the news website G1, Indigenous people protested at the site in opposition to a decree that allowed dredging on the 'Tapajos river, which is a key export corridor for agricultural products. Cargill stated that the protest started on January 22. Cargill said in a statement that it had "no control" over...

Analysts said that the near 9% decline in copper prices over the past two days is a return to "reality" for a market, whose recent surge of record highs was 'ahead of?the fundamentals. More losses are likely. They say that weak demand, increasing stockpiles and the possibility of increased supplies made it clear that copper's record-breaking rally last Thursday to $14,527.50 per metric ton was not sustainable. Alice Fox, Macquarie's analyst, said that prices had risen far beyond the fundamentals. "Investors were rushing into the market and pushing up prices", she added. "We believe the market was in a global...

The Panama Supreme Court annulled CK Hutchison’s contract last week to operate two Panama Canal Ports. This was part of a deal worth $23 billion to sell all the global port assets owned by the Hong Kong-based conglomerate. Court said that the contract of Panama?Ports Company, a subsidiary of CK Hutchison, violated Panama’s constitution because it gave the company exclusive tax benefits and privileges. What We Know: CK 'Hutchison is controlled by Hong Kong’s richest man Li Ka -shing. In March last year, a deal was announced that covered 43 ports in '23 countries', 'including two near the Panama Canal',...

Uber was ordered to pay $8.5m by an American jury on Thursday after it found the company liable for a lawsuit filed by a woman alleging that she was sexually assaulted by a driver at age 19. This verdict could have a significant impact on thousands of other cases brought against Uber. Jaylynn Dean brought the?case. It was the first bellwether trial of over 3,000 similar lawsuits filed against Uber in U.S. Federal court. Bellwether trials test legal theories, and can help determine the value of claims in order to reach a settlement. In federal court in Phoenix Arizona, the...

Uber was ordered to pay $8.5 million by a federal jury in Phoenix on Thursday after it found the company liable in a lawsuit brought by a woman alleging she had been sexually assaulted. This verdict could have a significant impact on thousands of similar cases filed against Uber. The case was brought by Jaylynn Dean and it was the first trial of over 3,000 similar lawsuits filed against Uber in U.S. Federal court. Bellwether trials test legal theories, and can help determine the value of claims in order to reach a settlement. Dean, a?resident of Oklahoma, filed a lawsuit...

The captain of the 'container ship' that collided with a U.S. oil tanker off Britain's east cost last year, was?jailed?for 6 years for gross negligence in causing death to a crewmember. Vladimir Motin was the captain of the Portuguese flagged Solong, when the tanker?Stena Immaculate,' was anchored with just over 220,000 gallons?of aviation fuel. This happened on March 10, 2025. The collision caused a fire on both vessels and the death of Mark Pernia (38), a Filipino national and member of the 'Solong crew. His body has never been located. James Leonard, Motin’s lawyer, said that Motin tried unsuccessfully to...

A?U.S. A judge will hear the emergency request of?New York?and?New Jersey?to force the restoration funding for the $16 Billion Hudson River Tunnel before the construction stops on Friday. The states filed a lawsuit late Tuesday and asked for a temporary injunction that would prevent the U.S. Transportation Department (USTD) from withholding funds for the rail project between New York City and New Jersey, approved under the presidency of Joe Biden. The lawsuit was filed by New York Attorney General Letitia James, and Acting New Jersey attorney general Jennifer Davenport. They claim that there is overwhelming proof that USDOT suspended funding...

Siemens Energy will invest $1 billion in the U.S. to expand power grid production and to produce?gas turbine components as it builds data centres to power AI technology. The biggest technology companies in the world are pouring hundreds billions of dollars into U.S. Data Centres that will require more power than can be provided by an aging electrical system. Government reports say that data centres could account for 12% of the U.S. grid's capacity in just two years. This is nearly three times as much as 2024. Siemens Energy CEO Christian Bruch said that the U.S. was the largest market...

On Monday, U.S. president Donald Trump announced that he had reached a deal with Indian prime minister Narendra Modi. The agreement included a stop to the purchase of Russian oil by India. The U.S. is trying to limit Russia's oil revenues to make it more difficult for Moscow to finance the?war? in Ukraine. Here are some important facts about the oil trade between Russia and India. OIL PURCHASES After the outbreak of the Ukraine war in February 2022, India became the largest buyer of Russian oil by sea. After some Indian refiners halted imports in November under pressure from sanctions,...

EIG Global Energy Partners hired PJT Partners as an advisor on how to structure a 'new fund' for its stake in Saudi Aramco oil pipeline assets, as the vehicle that holds it is nearing expiry. Sources said that the so-called continuation funds would allow U.S. infrastructure investors to keep the Aramco stake they bought in 2021 for a longer period of time and bring in new investors. EIG, PJT Partner?and Aramco didn't immediately respond to a comment request. A continuation fund allows a company to continue ownership of an asset after the fund's initial?lifecycle. Firms can sell assets when funds...

ESAB Corp, a?Canadian testing instrument manufacturer?, announced on?Monday that it will acquire Eddyfi Technologies? for $1.45 Billion. The company hopes to expand its product range and gain access to booming industries such as aerospace and defence. In a statement, ESAB CEO Shyam kambeyanda stated that the?combination would also help expand the company's global presence and increase its exposure to "high growth end?markets", including nuclear, civil infrastructure, energy, and civil. North Bethesda-based ESAB announced that the deal would be financed with a 'combination of debt, cash and $318,000,000 of fully committed equity. Eddyfi provides advanced sensing, remote monitoring, robotics, and software...

Officials said that Saturday, parts of Ukraine and Moldova - including the capitals of both countries - were plunged into a blackout due to a "malfunction" of high voltage power lines. Later in the day, power was restored. The accident was not linked directly to war damages, but Ukraine's electricity grid suffered as a result of the cumulative impact of Russian airstrikes. This led to severe restrictions in the supply of electricity over the past few weeks. Volodymyr Zelenskiy, the president of Ukraine, blamed ice accumulation on power lines for a cyberattack and dismissed it. In his video nightly address,...

The U.S. 'National Highway Traffic Safety Administration' announced on Friday that a ninth driver has died since 2023 because of a dangerous Chinese airbag inflator. Auto safety agency reported that it had been made aware of 11 U.S. crashes involving death or serious injuries caused by ruptured replacement inflators manufactured in China by Jilin Province Dtiannuo Automotive Safety?System Co. Ltd., also known as DTN. These inflators were likely illegally imported to the United States since May 2023. The latest death occurred in Ohio, in a 2019 Chevrolet Malibu in December. The?NHTSA announced earlier this month that two other drivers died...

The PJM Interconnection region, which covers one fifth of Americans, is experiencing an unusually cold and prolonged winter. PJM is responsible for the electricity flow in 13 Mid-Atlantic and Midwest states. Prices on the market impact the bills of approximately 67 million consumers. Grid operator predicted a demand of 141 gigawatts for Friday. The continued Arctic weather is likely to keep electricity usage high until February 2. PJM has managed to survive a'snowstorm' and 10 days of freezing temperatures without requiring any rolling blackouts. The grid operator stated that it continues to prepare for cold operating conditions with its transmission...

According to the latest seven-day forecast of the operator, the power demand on the biggest U.S. grid is expected to reach a peak on Friday at?141 gigawatts. This will be just short of the winter record for the PJM interconnection. PJM’s?performance?"has been closely monitored partly because its heavy concentration data centers, whose consumption of power is rising faster than the grid's ability to put more generation on line. The operator, who manages electricity flow for 67 millions people in 13 Midwest and Mid-Atlantic States and Washington, D.C., managed to navigate a snowstorm, and 10 days of freezing weather, without ordering...