Latest News
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Kerala State in India seeks compensation of $1.1 billion from MSC for oil spill
Kerala, a state in southern India, has sued the Swiss-based Mediterranean Shipping Company for $1.1 billion after one of their container ships sank in May and spilled fuel into Arabian Sea. The High Court of Kerala issued an Order late Monday ordering port authorities to "arrest, seize and detain" another MSC Ship anchored at the Vizhinjam Harbour in the state. This will continue until the ship deposits the required security for the claim. MSC did respond immediately to a comment request. In a May statement, the Indian government said that MSC had hired a marine service company to remove oil and clean up the environment. The MSC ELSA3 under the Liberian flag, travelling from Vizhinjam at India's southernmost tip to Kochi, capsized on May 25. Fuel and cargo were released in the incident, including some hazardous materials. In a court filing that was not made public, but reviewed by, the state government stated the incident had "resulted in massive pollution of Kerala’s marine ecosystem with oil slicks, and floating cargo, causing serious harm to the environment, fisheries, and public health." After the incident in May, the state asked local fishermen not to go into the sea. It also distributed food and cash to around 105 518 families who are involved with the fishing industry. (Reporting and editing by Aditya K. Kalra, Raju Gopalakrishnan, and Arpan Chaturvedi)
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Germany condemns China after it targets German aircraft with laser during EU operation
Germany summoned China's ambassador to its foreign ministry on February 2 after claiming that the Chinese military had used a laser to target a German plane participating in an EU operation named ASPIDES, which aims at protecting maritime security. On social media, the German Foreign Ministry said that it was "completely unacceptable" to put German personnel in danger and to disrupt an operation. There was no further information available at this time. This incident occurs as concerns grow in Europe about Chinese influence in critical technologies and infrastructure. The European Commission and China's Foreign Ministry did not respond immediately to an email request for comment. Neither did the Chinese Embassy in Berlin. The EU's ASPIDES missions contribute to maritime security and freedom of navigation, particularly for commercial and merchant vessels in the Red Sea and Indian Ocean, as part of the EU's Common Security and Defence Policy. Thomas Seythal edited the report by Madeline Chambers and Friederike Heine, and Brussels and Beijing Newsrooms.
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Ryanair CEO: Heatwave won't deter travel.
Ryanair's summer bookings are strong and prices are rising, but there is no sign that customers have delayed their holidays because of the recent heatwave. O'Leary said that his airline, which sources nearly all its aircraft from Boeing, was hopeful about the exemption of commercial aircraft from U.S. tariffs and EU tariffs. However, he admitted that "nobody really knows". He confirmed a forecast made in May that the Irish carrier, Europe's biggest airline by passenger number, would recover the majority, but not the entire, of the 7% drop in average fares last year, as consumers struggled to pay high interest rates. O'Leary stated that "bookings for summer 2025 have been strong and prices are increasing." He added that "August is looking strong for all the major holiday destinations. So Italy, Greece and Spain are very popular, as well as the Balearics. The Canaries, the Balearics. Even Morocco." O'Leary stated that heat waves are a temporary phenomenon. "It does not tend to change the travel patterns this summer." O'Leary spoke in Warsaw where he announced his plans to triple the number of passengers Ryanair will serve at the Modlin Airport, to over 5 million per year by 2030. (Reporting and writing by Anna Wlodarczak Semczuk, Editing and proofreading by Louise Heavens).
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Former UK politician Norman Tebbit Dies at 94
Local media reported that former British politician Norman Tebbit died on Tuesday at age 94. He was a devoted supporter of Margaret Thatcher and best known for having survived a bomb attack in 1984 on her government. Tebbit personified the hardline Conservative Party, criticizing the trade unions and urging strict immigration controls. He also preached a return to the traditional moral values. Former airline pilot and cabinet member, Tebbit was instrumental in the 1987 campaign that gave Thatcher her third term and the Conservative Party a landslide victory. Tebbit, the Irish Republican Army's (IRA's) most notable victim, was left paralyzed and trapped in the ruins at the Grand Hotel in Brighton, in 1984. His wife Margaret also suffered from the bombing. The Conservatives were holding their annual convention there. He famously said at a party convention in the early 1980s that his father did not riot when he was unemployed: "He went on his bicycle and looked for work". Tebbit was conceived in Enfield (north London) on March 29,1931. In the 1930s, his father, who was a pawnbroker and jeweller, lost his job during the Depression and had to work as a bricklayer. (Reporting and editing by Kate Holton; Sachin Ravikumar, Sarah Young)
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Wall Street Journal, July 8,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Ruoming Pan, Apple's executive who is in charge of AI models, has left the company to join Meta Platforms. Tech giants are aggressively chasing top talent as they race to be the leaders of the next AI wave. Royal Gold announced that it would acquire Sandstorm Gold, a Canadian rival company, for approximately $3.5 billion. This will help the royal firm to strengthen its position within North America during a period when gold prices have reached record highs. CoreWeave is buying crypto mining company Core Scientific for $9 billion in a deal that involves only stock. AI infrastructure companies are racing to secure energy and data centers to meet the demand. The Transportation Security Administration has introduced new procedures that allow passengers to wear their shoes through airport screening checkpoints. Andrew Hider has been named as the new CEO of Baxter International, replacing long-time CEO Jose Almeida. A group of independent companies and trade associations has called on the European Union (EU) to launch a thorough investigation into the acquisition of Downtown Music Holdings by Universal Music Group. They claim that the deal is a threat to competition if the antitrust officials allow it to proceed.
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. ARAMIS GROUP - French used car company Aramis updated their full-year guidance on Monday. They forecast that its adjusted EBITDA will be around 65 million euro ($76.12million) in 2025. ALSTOM: French rail manufacturer Alstom signed on Monday a contract in Chile with EFE to ensure the high reliability of Santiago-Nos service. It also signed a 2-billion-euro deal with New York Metropolitan Transportation Authority to supply 316 railcars. BRITAIN/FRANCE: The first European state visit since Brexit will be made by the French President Emmanuel Macron on Tuesday at Windsor Castle. This trip is meant to celebrate the re-establishment of stronger political ties between Britain and France. CARREFOUR - French retail distribution company Carrefour announced Concordis, an alliance for European buying with Cooperative U. Ipsos, a French market research firm, announced on Monday that it had acquired Inmoment’s German health division. PEUGEOT Invest: French investment holding Peugeot Invest announced on Monday that it will sell its remaining stake in SPIE through an accelerated placing. SHURGARD Self Storage, a Guernsey based self-storage facility provider, signed a purchase contract in the Netherlands on Monday. TITAN: The building and infrastructure materials company Titan announced on Monday that it will invest in a sustainable construction materials platform located at the former Fiddler's Ferry Power Station. Pan-European market data: European Equities speed guide................... FTSE Eurotop 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones ............... Wall Street Report ..... Nikkei 225............. Tokyo report............ London report ........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... Survey of global bourse outlook ......... European Asset Allocation........................ News in a glance Top News ............. Equities.............. Main Oil Report ........... Main currency report .....
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Qantas Australia says it has made cyber criminal contacts a week after a data breach.
Qantas' spokesperson said on Tuesday that a cyber criminal had contacted the airline following a data leak last week which exposed personal details of six million passengers. Hacker targeted call centre, gained access to third-party platform of customer service, which contained names, emails, phone numbers and birth dates, as well as frequent flyer numbers. The spokesperson stated that "this is a criminal case and we will not be commenting further on the details of the contact" as it was a criminal matter. She added that there were no signs stolen data was released, but the company continues to monitor with cyber security experts. The breach is Australia's highest-profile cyberattack since 2022 when telecommunications giant Optus was attacked, and the health insurer Medibank. These incidents led to mandatory cyber resilience legislation. This latest incident has brought unwanted scrutiny on the flag carrier of the country as it seeks public trust following its COVID-19 actions that saw it fall in airline and brand reputation ratings. Reporting by Roushni Nai in Bengaluru; additional reporting by Jasmeen Islam Shaikh, editing by Shilpi Mahumdar and Shakesh Kuber
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A man was killed in Texas after a shooting at a US Border Patrol station
Local police reported that a 27-year old Michigan man died after police shot him dead Monday morning in McAllen, Texas. The Michigan man had opened fire with an assault weapon on a U.S. Border Patrol post. McAllen police chief Victor Rodriguez said that Ryan Louis Mosqueda had fired dozens at the facility's entrance shortly before 6 am. U.S. Border Patrol agents responded with fire. Rodriguez reported that a McAllen officer was wounded in the leg during an exchange of gunfire and taken to the hospital. A Border Patrol agent was also injured, according to the U.S. Department of Homeland Security. The police found more assault weapons and ammunition in Mosqueda’s Chevrolet car that was parked near, Rodriguez said. He said that the suspect fired dozens and dozens of shots at the building, as well as the agents inside. The vehicle was covered in writing, which Rodriguez thought was Latin. He did not say what the writing said or if it indicated the motive of the attack. According to a former U.S. Customs and Border Protection employee, the Border Patrol special operations teams are housed in the facility where this shooting occurred. Mosqueda, who was reported missing from Weslaco at 4 am, is believed to be a local. He lived about 18 miles (30 kilometers) east of McAllen. Rodriguez stated that the FBI was leading the investigation, as there had been an attack against federal officers and on a federal building. Law enforcement securing the area caused several hours of delays at McAllen International airport. Former CBP officials who requested anonymity in order to discuss the details of the incident said that a member of Border Patrol’s tactical unit known as BORTAC helped stop the alleged gunman. Donald Trump, Republican President, has made fighting illegal immigration his top priority. He sent troops to secure the U.S.Mexico border, and launched aggressive raids on U.S. cities. Americans are concerned that the actions, supported by Trump's hardline Republican supporters, have led to arrests of noncriminals and enforcement techniques which include officers wearing masks in order to conceal their identities. Under Trump, the number of illegal migrants crossing the border has dropped to new lows. A new monthly low was reached of 6,100 in late June. Trump sent BORTAC agents in 2020, his first term to Portland, Oregon, to protect federal buildings following attacks on a federal building during protests against police brutality and racism. (Reporting and editing by Ted Hesson, Jasper Ward and Kevin Liffey; Reporting by Ted Hesson, Jasper Ward and Bill Berkrot)
The rupee is a little higher, but the US tariffs are keeping traders cautious.
The Indian rupee rose slightly during early trading on February 2, in line with a rise in other Asian currencies. However, traders were cautious, waiting for clarity regarding the ongoing trade talks between India and the United States.
The rupee was up 0.16 percent on the day to 85.71 dollars at 10:25 am IST.
Most regional counterparts gained when U.S. president Donald Trump delayed the imposition steep reciprocal levies until August 1, giving countries more time to negotiate trade deals.
The White House sent letters to 14 countries stating the duties that would be applied on their exports in just over three weeks. Trump claimed that he was nearing a deal with India.
Market participants were comforted by the fact that they still had time to negotiate with the largest economy in the world.
MUFG stated in a report that "this modest reaction may be a function either of market pricing for the ability to negotiate tariffs down, or possibly a continuation in the TACO trade (Trump Always Chickens Out)."
The traders say that despite the uncertainty surrounding the outcome of the trade negotiations, aggressive bets on the rupee are unlikely to occur, due to the potential for news-driven movements.
A trader from a private banking firm said that the sharp drop in the rupee during the previous session had many traders on their wrong side. This has led to a level of caution moving forward.
On Monday, the local currency fell by up to 0.7% after Trump threatened to levy a tariff of 10% on BRICS nations.
Separately, another source with knowledge of the issue said that the tariffs would only be imposed if the countries took so-called anti-American policy actions.
(source: Reuters)