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As the investigation into the cable car accident begins, Lisbon mourns 16 deaths
After at least 16 people died in a crash involving a popular tourist funicular, flags were flown at half mast in Lisbon. The remaining two lines have been closed while Portuguese authorities investigate the cause of accident. Sao Jose Hospital reported that 23 people were injured and one died overnight. The footage from the scene showed the yellow tram-like funicular that carries people up a steep hillside of the Portuguese capital lying on the ground where it had hit a building. Eliane Chaves is a Brazilian living in Lisbon for the past 20 years. She said that she walks by the funicular each day. National mourning has been declared. "It is really sad," she said. "People say it was negligence, but it wasn't negligence," she said. They closely supervise the process. It was an accident just as a plane crash or car accident could happen. Manuel Leal, the leader of Fectrans, told local TV workers at the Gloria Railway - a symbol of the city – had complained of problems with the haulage cable tension on the funicular, which made braking difficult. However, it was still too early to determine if this was the cause of crash. Carris, the municipal public transport company, said in a press release that "all maintenance protocol has been followed", including weekly and monthly maintenance programmes as well as daily inspections. Electric motors mounted on each car counterbalance one another to provide traction. The cable appeared to snap, and the car, which was coming down a 265 metre slope, lost its brakes, and crashed into a building on the corner. The car in the middle of the line was thrown back several metres and appeared to be unharmed, but a video taken by passersby showed some passengers jumping from its windows. The line that opened in 1885 connects Lisbon's downtown near Restauradores square with Bairro Alto or Upper Quarter which is famous for its vibrant evening life. According to the city hall, the Gloria line transports approximately 3 million people each year. The authorities did not reveal the identities of the victims, nor their nationalities. However, they said that some foreigners were among the dead. Local media reported that the German family of three was one of the victims. The father was killed and the mother suffered serious injuries. In the last decade, Portugal and Lisbon have seen a boom in tourism, with tourists thronging the city's downtown during the summer. (Reporting and editing by Alex Richardson, Inti landauro, Sergio Goncalves, Andrei Khalip)
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European shares flatten as bond market concerns subside and airline stocks fall
Click or type LIVE/ to see a live blog of the U.S., UK, and European stock market. European shares were steady on Thursday, as investors held off amid bond market uncertainty, and a poor forecast from British low-cost airline Jet2 hurt the travel and leisure industry. The pan-European STOXX 600 shook in the early trading and was flat at 546.93 at 0722 GMT. Travel and leisure declined 1.2%. TUI Germany and Easyjet each fell over 4%. The shares of British low-cost carrier and travel company Jet2 lost a quarter after it forecasted that its operating profit for the full year would be at the lower end of its expectations. Porsche's shares fell by nearly 1% after recent losses, a result of U.S. tariffs on imports and a weakening in demand in China. This week, caution prevailed after concerns about debt-fueled fiscal spending by governments in developed markets resurfaced. This sparked volatility among European stocks and bonds with longer maturities. The focus will then shift to the debt auctions that are taking place in France and Britain, two countries at the heart of Europe's bond selling. Tristan Veyet reported from Gdansk, Johann M Cherian from Bengaluru and Nivedita Battacharjee edited the story.
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Cyprus: European prosecutors are investigating the east Med cable project
Cyprus's President said that European prosecutors are looking into possible criminal offenses relating to an EU-funded project worth 1.9 billion euros ($2.12 billion), which aims to build a submarine electric cable connecting Europe with the eastern Mediterranean. The Great Sea Interconnector Cable is being built by the Greek power grid operator IPTO to connect European and Cypriot transmission systems and to later extend to Israel via the Mediterranean Sea. Nicosia is seeking clarifications about the project's cost, viability, and liabilities. In March, Greece reaffirmed their commitment to the project following reports that it had been stopped due to financial and geopolitical issues. Nikos Christodoulides, the Cypriot president, told reporters that he was informed late Wednesday night that the European Public Prosecutor's Office opened an investigation into "possible crimes in relation to this specific project" following complaints. Christodoulides, when asked who the investigation was targeting, said: "It doesn't refer to anyone in particular." The EPPO didn't immediately respond to a comment request. IPTO Athens declined to comment. Project promoters claim that the 1,240 km cable will be the "world's longest", and it will also be the deepest, at 3,000 meters. (Reporting by Michele Kambas, Additional reporting by Angeliki Koutantou, Editing by Jan Harvey).
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Jet2's profit growth is slowed by booking uncertainty
Jet2, a British low-cost carrier and travel company, forecasted that its full-year operating profits would be at the lower end of their expectations on Thursday. They cited limited visibility in bookings and the fact that seats were still available for summer and winter. Recent travel companies have been impacted by geopolitical turmoil, rising costs and extreme weather. Travelers book their hotels and flights earlier to avoid unintentional costs. Jet2 announced in its trading update of Thursday that it has chosen to "exercise capacity discipline" due to a "less certain consumer environment". The company has reduced the number of seats available for sale from 5,8 million to 5.6 millions in anticipation of the winter season. Its holiday advertising has been a viral sensation on social media. The company anticipates an operating profit of between 606.55 million pounds and $670.05 for the year ending on March 31, 2026. ($1 = 0.7402 pound) (Reporting and editing by Mrigank Dahniwala in Bengaluru)
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Russian Minister: Memo between Russia and China sets out route and volume for new gas pipeline
The Russian state news agency RIA reported that Russia and China had agreed on the route of the Power of Siberia 2 pipeline and the volumes of gas to be supplied, citing Energy Ministry Sergei Tsivilev. The signed memorandum states that the pipeline will pass through Mongolia, and it is estimated to deliver 50 billion cubic meters of gas per year. A binding memorandum was signed by Russia and China during Putin's China visit. However, little is known about key details and Gazprom has said that the pricing of the project still needs to be decided. Tsivilev stated, "We need to figure out the funding scheme now." We have been granted permission and we are free to act, so we will move quickly." He said that the financing arrangements will likely be finalised by 2026. Tsivilev said that the Power of Siberia 1 pipe has reached its design limit of 38 billion cubic meters, and Moscow and Beijing agreed to increase this to 44 billion cubic metre. The design work for increasing capacity is underway. Tsivilev stated that once the design work is completed, specific dates will be announced.
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Israeli military identifies missile fired from Yemen toward Israel
Israel's military confirmed that a missile fired from Yemen at Israel on Thursday fell in an area open outside Israeli territory. No sirens were activated. This was the third launch of this kind within 24 hours. Yemen's Iran supported Houthis have recently increased attacks and launched missiles in response to Israeli attacks against Yemen. The Houthis launched missiles and drones towards Israel from thousands of kilometers away, calling it an act of solidarity with Palestinians. The majority of missiles or drones that were launched either missed their targets or were intercepted. Israel has responded by bombing areas in Yemen controlled by the Houthi, including Hodeidah's vital port. In its latest attack, Israel killed several senior Houthi officials including the head government. Since the beginning of the Gaza war in October 2023, the Houthis who control the majority of Yemen have been attacking vessels on the Red Sea. Muhammad Al Gebaly, Himani Sarkar, and Clarence Fernandez edited the report.
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The US FCC chairman wants to stop government subsidies for WiFi in school buses
The Federal Communications Commission chair proposed Wednesday to end subsidies for wireless technology on school buses, which were originally created as part of a COVID program. FCC chair Brendan Carr requested that the commission reverse policies implemented under former-President Joe Biden, allowing subsidies for WiFi on school buses as well as for wireless hotspots which could be borrowed from libraries to access online. Carr stated that the proposal would "end the FCC funding unsupervised screentime for young children." Carr also said that the FCC "failed to prove that these funding decisions will advance legitimate classroom or libraries purposes." In May, the U.S. Senate voted to repeal FCC subsidies for hot spots and internet on school buses. Ted Cruz, chair of the Senate Commerce Committee, said that the rule does not require schools obtain parental consent prior to distributing hotspots subsidized by FCC or set meaningful filtering requirements. The House hasn't taken up the measure. Jessica Rosenworcel, FCC chairperson at the time, said that by approving this program schoolchildren would be able to complete their homework on bus rides. She said that in rural areas, children spend up to an hour on the bus getting to and from sports events or school. Children without internet access at home also struggle to complete their nightly homework. Rosenworcel stated that the idea was "smart, creative and in line with the law." (Reporting and editing by Nick Zieminski, Les Adler and David Shepardson)
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Lisbon Funicular crash: At least 3 people dead, many injured
Authorities reported that around 20 people were injured in the crash of Lisbon's Gloria funicular, which is popular among tourists. Three people were gravely injured. The footage showed that the funicular-like tram, which transports people up and down the hillside of the Portuguese capital was destroyed and that emergency workers were pulling people from the wreckage. In a press release, President Marcelo Rebelo de Sousa expressed his regret for the accident and expressed the hope that the authorities would quickly determine what caused it. It connects the downtown area of Lisbon, near Restauradores square, with Bairro Alto, a district famous for its vibrant and lively nightlife. The municipal public transport company Carris operates it. The two cars of the system are connected to opposite ends on a cable haulage. Traction is provided by the electric motors in each car. CNN Portugal reported that the car at the end of the line appeared to be unharmed, but passengers were forced to jump from its windows after the accident.
Maguire: US gas capacity to jump by a lot as renewables slow down
According to data from the U.S. Power Capacity Pipeline, U.S. developers plan to increase natural gas and hydropower capacity and reduce plans to build new solar and wind farms.
Global Energy Monitor data shows that by mid-2025 the U.S. had approximately 114,000 megawatts of natural gas power capacity in construction or so-called "pre-construction" according to Global Energy Monitor.
This capacity total is over twice as big as what developers had planned a year earlier. GEM data show that gas plants are the largest source of power among all the planned capacity additions in the construction and preconstruction stages.
The developers have also increased the planned capacity for nuclear and hydropower generation compared to a year earlier, and made significant cuts in solar and wind power plans as compared to mid-2024.
The sudden change in energy policies of the federal government following Donald Trump's reelection is evident by the large changes made to the mix of power capacity planned.
The schedule for gas-heavy developments also shows how utilities prioritize dispatchable energy sources over intermittent renewables in their scramble to keep electricity supplies up to date with the rapidly increasing demand.
FIRE UP
Around 46% of the U.S. electricity capacity is currently generated by natural gas plants, with 36% in construction or pre-construction.
Around 16,300 MW are currently being built, and around 98,000 MW are in the pre-construction stage, where sites have already been identified, and permits have been obtained.
U.S. utilities plan to add around 36,000MW of hydropower and nearly 8,000MW of nuclear power in addition to the 114,000MW of natural-gas-powered capacity.
These diverse power sources share a common characteristic - they can all be dispatched by utilities to balance the system's power requirements.
Around 159,000 MW of dispatchable capacity is currently in the developer pipeline, compared to 57,000 MW a year earlier.
CLEAN CUTS
The capacity pipeline of renewable energy is a lot smaller than the dispatchable power footprint. Renewable power is often called intermittent power, because it can only be produced when the wind and sun are blowing.
The total solar capacity under construction or pre-construction currently is approximately 92,000 MW. This compares to around 112,000MW in 2024 at the same development stages.
The current wind power capacity under development is approximately 65,000 MW. This is down from 74,000 MW one year ago.
Around 155,000 MW in renewable energy capacity are currently being constructed, down from 186,000 MW one year ago.
The fact that some capacity previously under construction is now operational can explain why there are apparent reductions in the pipeline of renewable energy development.
GEM data show that solar power capacity grows quickly. The total capacity of solar panels in operation has increased from 120,460MW in 2024, to 121,311MW at present.
By mid-2025, the operating wind capacity in the United States increased from 150.592 MW.
The growing wait time for new power assets, especially wind farms, to be connected to local grids and the increasing costs of parts and materials are also reasons for the reduction in the renewable pipeline.
The Trump administration has cut back on future tax breaks and subsidys, which has led to a reduction in some renewable energy capacity plans. This is especially true for states that already have long waiting times to interconnect.
RE-CHARGING
Utilities are building new battery storage capacities rapidly to store excess power generated by renewable assets and discharge it during peak demand periods.
According to Cleanview, the energy data portal, around 8,000 MW battery capacity will be added to U.S. utility networks by the end the year.
This new battery capacity will bring the total U.S. utility scale battery capacity up to 46,000 MW this year.
The expanded battery capacity allows utilities to better utilize the renewable energy capacity that is already in place. It also ensures that solar power that exceeds the system demand during sunny periods can be stored and used later.
This will allow the U.S. power system to continue to become cleaner, even though the rate of growth in solar and wind energy capacity continues to be slower than previous years.
The increased gas development pipeline ensures that natural gas will remain the main pillar in the U.S. power generation system after the current construction of all types of power is completed.
STAYING GAS-HEAVY
Once construction and pre-construction are complete, the share of gas capacity in the U.S. overall power system will be 44%. This is more than double that of any other source.
Once the current construction frenzy is over, wind and solar will surpass coal.
Wind and solar both have a 10% and 12% share respectively of the total capacity currently in operation.
Wind and solar power will be around 14% of the total energy mix once projects currently in construction or pre-construction have been completed. Coal power will fall to about 12%.
After the building is completed, clean energy sources will increase their share in the overall capacity mix of the grid from 39% to 44%.
This means that, while the U.S. electricity system will continue to be primarily powered by gas, clean energy sources will make up the majority of the remainder and play a major role in the ongoing efforts to reduce pollution in the U.S. Energy System.
These are the opinions of the columnist, an author for.
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(source: Reuters)