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Five people killed in a Russian attack on a passenger train in the northeastern Ukraine, according to prosecutors
Five people were killed in a Russian drone attack on a passenger train in the northeastern Ukraine, according to prosecutors. The President Volodymyr Zelenskiy called it terrorism. The prosecutor said that fragments of five bodies were found near the site of the strike in the Kharkiv region, located in the northeastern Ukraine. The train was operating from Chop near Ukraine's western border with Hungary and Slovakia to the town of Barvinkove. Online photos showed two carriages on fire next to a railbed covered in?snow. In any country, drone strikes on civilian trains would be viewed the same - as pure terrorism. Zelenskiy posted on Telegram that there is no military purpose in this. "Our cause, and this is what should 'unite all people around the world - to protect life. It is possible to achieve this by putting pressure on Russia. The prosecution said that one drone hit the train, and two others struck an area adjacent to it. Zelenskiy wrote on Telegram that four people had been?killed. He said the train was carrying over 200 passengers including 18 people in the wagon which was hit. The prosecutor had earlier stated that there were 155 passengers aboard the train. Oleksiy Kuleba, Deputy Prime Minister, described the drone attack as "a direct act of Russian terror." Oleksandr P. Pertsovskyi is the CEO of Ukrzaliznytsia - Ukrainian national railways. He thanked the rescue teams, fellow passengers, and those who helped evacuate people. Pertsovskyi posted on Facebook that "keeping things moving has become more difficult." "We're regrouping." Even on the most terrifying days, we will not give up. (Reporting and editing by Peter Graff; Ron Popeski, Chris Reese, Deepa Babington, Deepa Peleschuk, Deepa Babington, Deepa Babington, Deepa Babington, Ron Popeski)
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NTSB: FAA failed to act properly before fatal Washington DC collision
National Transportation Safety Board: The Federal Aviation Administration had a number of failures prior to a deadly collision in January 2025 between an American Airlines regional plane and an Army Black Hawk helicopter at Ronald Reagan Washington National Airport that killed 67 people. The FAA's safety culture needs to be reformed and the agency has not acted on a recommendation that helicopter traffic should be moved away from Reagan,?the board stated during a one-day hearing. Jennifer Homendy, Chair of the NTSB, said that FAA should've known about a problem. She cited repeated failures. The data was available. Homendy stated that the data was on their systems. "This was 100% avoidable... "There's definitely a need for serious reform." The hearing quickly became a long rebuke by the safety panel of the FAA, which shed light on serious issues of communication, culture, and safety surrounding the 26th busiest U.S. Airport, which is home to the busiest runway in the United States and is frequently used by members from Congress. The hearing also raised concerns about the Army's conduct in the busy airspace. The FAA didn't immediately comment, but the Trump administration announced on Monday that it was restructuring the organization of the agency to improve safety oversight. The FAA showed a dramatic animation of the accident and some families in tears, wearing photos of their loved one's left the room before the show. Homendy said that there could be other hotspots, saying that commercial airlines had contacted her to tell her "the next midair will be at Burbank and nobody at FAA pays attention." She also said, "People are raising red-flags." In October, the FAA was reported to have been examining the traffic flow around Hollywood Burbank Airport (less than 10 miles away) and Van Nuys Airport (less than 10miles apart), which serve a mixture of aircraft that are closely spaced on their arrival and departure routes. The NTSB has made numerous recommendations to the FAA, citing failures that occurred before the crash. In March, the NTSB reported that there have been 15,200 incidents of air separation near Reagan between helicopters and commercial planes since 2021. This includes 85 close calls. The 'NTSB' also found problems with the way the FAA handles traffic at Reagan. It questioned the reason why the FAA downgraded Reagan Tower in 2018. They said the FAA refused to provide any criteria or metrics as to why it had been downgraded. The FAA rejected suggestions to include hot spots on a chart of helicopter routes. The NTSB stated that airplane pilots did not know about the conflict between helicopter routes, because aeronautical charts provided insufficient information. The Justice Department ruled in December that the federal government is responsible for the crash. The government acknowledged that it "owed plaintiffs a duty to care, which it breached thereby proximately leading to the tragic accident," and that pilots of both the Army helicopter as well as the regional?jet failed to maintain vigilance to avoid each other. The NTSB stated that the controller should've issued a safety warning, which "may had allowed action to be done to avoid the collision." Homendy stated that the FAA had not reviewed the routes of the helicopters and that they were not designed in a way to ensure separation. Homendy stated that "we have an entire 'tower' who took it upon themselves repeatedly to voice their concerns, only to be squashed by the management and everyone above them." "Were these people set up to fail?" She said that a critical safety system called ADS-B in and out could have alerted the pilot of the passenger aircraft 59 seconds prior to the collision, and the crew of the helicopter 48 seconds beforehand. The lawmakers are trying to mandate this technology. U.S. LIABILITY FOR DAMAGES The collision took place at a height of approximately 300 feet, despite the fact that the maximum altitude allowed for the route taken by the helicopter was 200 feet. According to the Justice Department, an air traffic controller also failed to comply with an FAA directive. As a result, both agencies were liable for damages. The Potomac River crash was the worst U.S. aviation disaster in over 20 years. The NTSB revealed last year that in 2022, members of an FAA working group on air traffic had recommended moving helicopter traffic from Reagan airport. They also suggested establishing airborne "hotspots" but the proposal was rejected by an FAA official because it was deemed "too politically charged". The NTSB found that the Potomac FAA facility regularly delivered airplanes with less space than was required. In March, the FAA restricted helicopter flight after the NTSB stated that their presence was an "intolerable" risk to civilian aircraft at Reagan National. After a near-miss that caused two civilian planes abort their landings, the FAA banned the Army in May from helicopter flights over the Pentagon.
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Gatik, a self-driving truck company, secures $600M in contract revenue
Gatik announced on Tuesday that it had secured $600,000,000?in contract revenue and has deployed 'fully driverless trucks' for commercial operations. This highlights the ambitions of the autonomous trucking company to gain a foothold in the market. The heavy regulatory scrutiny surrounding safety has made the commercialization of autonomous vehicles a challenge. However, advances in artificial intelligent have helped many firms improve their technology. Gautam Nang, CEO and founder of Gatik, said: "Today we operate fully driverless trucks across multiple logistic networks and markets. We serve the largest retailers and CPG firms in the country." Gatik's trucks operate nearly?24-hours a day. They move goods between distribution centres and?stores in order to increase delivery frequency, reduce costs, and keep shelves stocked. Public listings in the autonomous trucking industry have also risen, as rivals try to tap into this lucrative market.
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Sources say that the US is working on a general license to lift some sanctions against Venezuelan oil industry
Three sources familiar with this preparation revealed on Tuesday that U.S. officials are preparing to issue a license to lift'some sanctions' from Venezuelan energy companies. This is a departure from the previous plan of granting individual exemptions for sanctions to companies wanting to do business there. U.S. officials said that following the capture by the U.S. of Venezuelan president Nicolas Maduro in the first week of this month, Washington would ease the sanctions on Venezuela's energy sector to facilitate a $2 Billion oil supply deal and an ambitious $100 Billion reconstruction plan for the country's petroleum industry. In recent weeks, many partners and customers of the state oil company PDVSA have applied for individual licences to increase oil output or exports. These include producers Chevron and Repsol, as well as refiner 'Reliance Industries' and some U.S. service providers. Two sources claim that the volume of requests made to the U.S. Government has slowed down progress in plans to 'expand exports' and?move investment quickly into the country. Requests for comment from the U.S. Treasury Department and Venezuela's Oil Ministry were not immediately answered. A broad license issued by former U.S. president Joe Biden exempted a number of companies from U.S. sanctions and allowed them to export Venezuelan oil. This allowed for higher crude exports and production until President Donald Trump's second term began in the first quarter last year. Trump's administration revoked authorizations to exert pressure on Maduro and ordered companies to stop transactions. In December, he ordered a ban on all vessels sanctioned from entering or leaving the country. This reduced Venezuela's oil exports by half, to about 500,000 barrels each day. The exports of Venezuelan crude oil have increased in recent weeks, after the trading houses 'Vitol' and?Trafigura were granted the first licenses for supplying up to 50,000,000?barrels to the U.S. Sources said that a sweeping reform to Venezuela's main oil legislation, which would facilitate oil and gas investments, production and exports, was approved by an initial vote in the last week. It is expected that it will receive a final greenlight from the National Assembly next week.
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JetBlue quarterly loss exceeds forecasts, shares dive 8%
JetBlue Airways on Tuesday posted a ?bigger-than-expected fourth-quarter loss, citing factors including inclement weather and the government shutdown, and the carrier's shares tumbled ?8% ?in afternoon trading. New York-based carrier said that the quarter was marked with a large number of unforeseeable external events. However, growth in premium categories helped boost revenue. U.S. carriers are looking to high-end product and loyalty programs to offset the tepid demand for main cabins in 2026. Joanna Geraghty, CEO of the airline, said on a earnings call that "macro-uncertainty" impacted industry demand and results last year. She added that this hindered the airline's efforts to restore operating profitability. MORE ?PREMIUM REVENUE IN 2026 JetBlue reported an adjusted loss per share of 49 cents for the quarter that ended December 31. This compares to a loss per share of 21 cents a year ago. LSEG data shows that analysts had predicted a loss per share of 45 cents. Operating expenses per seat-mile available, excluding fuel and disruptions such as the government shutdown, increased 6.7% on an annual basis during the third quarter. Fuel prices also posed a challenge to the airline during the third quarter. JetBlue's operating revenue for the period October to December was $2.24 billion, compared to analysts' expectations of $2.23billion, due primarily to an increase in domestic demand and its premium growth strategies. Geraghty said, "The majority of our RASM beat (revenue per seat mile) was driven by underlying strength in demand, along with loyalty, ancillaries and other revenue that exceeded expectations." These initiatives included releasing the company's premium card. JetBlue expects RASM – an industry metric known as unit revenue and a proxy of pricing power – to be between 0% and 4% in the first quarter, and 2%-5% for the entire year. The company wants to increase premium revenue by 2026. It plans to open a second lounge this year in Boston, launch a domestic "first class" and expand its Fort Lauderdale operations. The airline expects to break-even in 2026 and is expecting capacity growth of between 2.5% and 4%. JetBlue's President Marty St. George said, "The macro-background is improving, we are excited to be growing, and our operation is performing in a way we haven't experienced for years." No material impact from the storm is predicted JetBlue has said that it does not anticipate a material impact of the winter storm disrupting air travel in a large part of the U.S. The 'carrier' has cancelled about 1,100 flights. This is less than American Airlines, which has canceled over 9,000 flights during 'the largest weather-related disturbance in its history. JetBlue anticipates that RTX’s Pratt & Whitney geared Turbofan Engine will cause a mid-single digit number of aircraft to be ground in 2026. The airline said it is still working with RTX to reach a settlement. "We're focused on what we think we deserve," an executive stated on the earnings call. However, the amount does not matter in terms of whether JetBlue meets its full-year guidance. Alaska Airlines forecasted a full-year loss last week, citing fuel price volatility, seasonality and economic uncertainty. (Reporting from AnshumanTripathy in Bengaluru, and DoyinsolaOladipo in New York, with editing by ShaileshKuber, Jan HarveyMark Potter, and David Gregorio.)
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Boeing makes a quarterly profit despite unit losses
Boeing reported a profit for the fourth quarter on Tuesday. This was due to the sale of its digital services provider as well as a rise in?jet production and increased deliveries. Investors' reactions were dampened by the fact that losses in two of its largest divisions exceeded expectations. The company recorded a $565'million charge for its KC-46 aerial-refueling-tanker program because of higher estimated costs. Boeing increased production of its most popular jetliners – the 737 MAX & 787 – and reported positive free cash flow — a metric closely monitored by investors. Boeing was able to end the year in profit despite continuing losses in Boeing’s commercial and defence divisions, thanks to the $10.6 billion Jeppesen sale that closed in the fourth-quarter. In an email, Third Bridge analyst Peter McNally stated that "While Boeing seems to be on the firmest footing it has been since the company's problems began in 2018 the quarterly results serve as a reminder of how difficult managing this business can be." 737 MAX REACHES 42 A MORNING Boeing produced 42 737 MAX aircraft per month at the end of the year. The company is now working to increase the rate of 787 production?to eight a monthly. The company intends to increase MAX production this year to 47 airplanes per month and 787 production up to 10 each month. For the quarter ending in December, the planemaker made a profit of $8.22billion, or $10.23 a share ($9.92 a share for core operations), compared to a loss of $5.46 a share or $3.86billion a year ago. LSEG data shows that Boeing's loss after excluding the windfall from the Jeppesen deal was much higher than the analysts' projection of 39 cents per share. Boeing's commercial aircraft unit, despite the improvements in production, posted a loss of $632 millions for the quarter. Boeing's Defense and Space unit lost $507 million. In a CNBC Interview on Tuesday, 'Boeing CEO Kelly Ortberg stated that he expected the KC-46-4 charge to be a?one-time event. In midday trading, the company's stock was down by 2.3%. In the quarterly results, Spirit AeroSystems was repurchased for $4.7 billion worth of stock. Boeing reduced Spirit's debts by more than $3.3 billion. The company has not provided financial projections beyond 2026. Jay Malave, the Chief Financial Officer, said in a conference with analysts that he expected $1 billion to 3 billion of positive free cash flow for this year. This is dependent on delays with the 777X and the smaller 737 MAX versions - the 7737-7 and the 737-10. Most deliveries since 2018 The company delivered 600 aircraft last year across all its jet programs. This is the highest number of airliners it has ever delivered. Boeing has been hit by a number of issues in the interim years. These include the 737 MAX Scandal, the 'pandemic', supply-chain bottlenecks and a midair accident which exposed systemic safety and quality problems. Malave said the planemaker is expecting to deliver 500 737s in 2018, compared with last year's total of 447. This included 55 jets which were stored. The company plans to deliver between 90 and 100 737?jets in 2019, up from 88 jets in 2025. On the conference call, he stated that "the company seeks to better manage (delivery delay) exposure in new contracts by tighter underwriting standard." Ortberg stated that despite Boeing's turbulent relationship with President Donald Trump, since his election, "the Administration has been accessible to me, has listened when I've raised concerns, and I believe we've achieved pretty good results so far." The planemaker earned $375 million in the fourth quarter but still lost $1.9 billion for the entire year due in part to certification delays with the 777X and 737 MAX programs. In a memo sent to employees, Ortberg stated that "progress brings expectations. Our customers and stakeholders will expect more of us this year." "And we should all expect more of each other." Ortberg, Boeing's CEO, said that the company has identified a "potential issue" with the GE engines used to power its widebody 777X. The engine manufacturer is working to resolve the problem, Ortberg added. He did not expect the delay in delivery to 2027. In a press release, a GE Aerospace spokeswoman said: "We have a program of on-wing inspections in place to assist Boeing as we analyze the problem and define the corrective actions, guided by our quality and safety systems." Boeing's revenue for the fourth quarter rose 57%, to $23,95 billion, compared to expectations of $22,6 billion.
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If Trump fails to restore funding, the New York City Tunnel project will cease work within days.
Trump's administration has suspended funding for the new $16. The Trump administration's suspension of funding for a new $16? In October, President Donald Trump announced that he had cancelled the project. His Republican administration has repeatedly targeted transit and infrastructure projects that are in Democratic-led States. At a Tuesday hearing, the Gateway Development Commission, a New Jersey Democrat and U.S. Rep. Josh Gottheimer said that the project would be suspended on the 6th of February if Trump did not restore funding approved under the former administration of?former president Joe Biden. He claimed that about 1,000 workers would lose their jobs immediately. If the Hudson tunnel fails, it would impede commuters in the area, which produces 10% of the nation's economic output. It is used by 200,000 people every day. The project has cost more than $1 billion. The project, which has received federal loans and grants totaling $4 billion, involves the repair of an existing tunnel as well as construction of a brand new one to accommodate passenger rail Amtrak, and state commuter routes between New Jersey and Manhattan. In a press release, New Jersey Governor Mikie Sherrill said that the president's refusal of funding the Gateway Tunnel project was not only illegal but also showed a reckless disregard to our economy and livelihoods for working families. Kush Desai, White House spokesperson, said that Democrats are "blocking a deal on the Gateway Tunnel Project" by refusing negotiations with the Trump Administration. Nothing stops Democrats from prioritizing American interests over illegal aliens, and getting this project on track. The Transportation Department of the?U.S. Transportation Department accused Gateway of violating law in December in the Disadvantaged Business Enterprise Program to help small business run by "socially disadvantaged individuals." After a recent court ruling, women as well as some members of minorities?racial group are no longer considered to be economically disadvantageous when they bid for contracts. Gateway told USDOT it was compliant with federal law. Trump, who was a New York City developer in his previous term, refused to approve the funding of these projects. Kathy Hochul (Democrat) of New York said in a statement that the imminent end of construction was the "latest collateral injury of Donald Trump's vindictive desire to?hurt New Yorkers at any cost." The stakes are huge: thousands of commuters every day, 10,000 union jobs, and billions in economic benefits. USDOT has repeatedly threatened New York's transit funding. The department threatened in August to withhold 25 percent of federal funding from the New York State Metropolitan Transportation Authority (MTA) if it did not improve the safety of subway track maintenance employees. The Trump administration also wants to end Manhattan's congestion-pricing program, which was introduced last year to reduce traffic while raising billions of dollars for mass transit. Reporting by David Shepardson, Washington; editing by Chizu nomiyama and Matthew Lewis. Howard Goller is the editor.
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The largest US regional grid is left with a thin operating margin after power plant outages
The number of power plant outages in the U.S. largest regional grid on Tuesday was?more that 70% higher than January's average. This leaves a region with 67 million residents with a?thin cushion of energy against the frigid temperatures and forecast for record winter demand this week. The PJM interconnection, which includes 13 Mid-Atlantic states and the Midwest, reported that most of these outages were caused by power plants being forced to shut down due to freezing temperatures and limited natural gas supplies. The gas-fired power stations in the Dominion Energy Zone of PJM were the hardest hit. Tuesday's forecast was for forced outages to reach nearly 9 gigawatts. This is about half of PJM’s total forecasted outage. The electric utility didn't return messages seeking a comment. In PJM (which spans the nation's largest gas-producing shale region), natural?gas is by far the most popular fuel for electricity. Gas wells and pipes can freeze in frigid temperatures. This was the case during a winter storm of 2022, when multiple generators failed. PJM has forecast that the total?generation of outages will be 18 GW or 10% of its 180.8 GW operational capacity this week. PJM data shows that this level of outages was?73% more than the average of 10.4 GW so far in January. PJM, and other regional grids, have avoided rotating blackouts despite prolonged cold temperatures and heavy snowfall in major East Coast cities such as Baltimore, Boston, New York, Philadelphia, and Washington, D.C. PJM, the largest electricity market in the United States, is also the site of the most data centers. As energy-intensive data centres proliferate, the grid's margin of reserve power has decreased in recent years. This is largely due to an increase in artificial intelligence. Grid expert Pieter Mul said that the ultimate test for PJM or any other operator is whether customers' lights are kept on. "Do you leave the lights on?" Mul, associate partner in PA Consulting's Energy and Utilities practice said. "That is always the most crucial question." There has certainly been a lot of stress on PJM territory this week. Generator outages and congestion on high-voltage transmission systems have caused spot electricity prices to rise past $1,000 per megawatt for the past few days, according to energy analysts from consulting firm ICF International. PJM also predicted a record winter demand of 147 GW - on Friday. This was partly due to data centers' 24/7 electricity requirements and temperatures above 0 degrees Fahrenheit. On Tuesday morning, spot wholesale electricity prices in PJM territory averaged $342 per MWh as power plants paid higher prices for natural gas. Spot prices in the PJM region served by Dominion Energy were $640/MWh. This reflects power plant disruptions, such as generator units tripping off or producing less electricity due to cold temperatures. Next-day natural gas prices Eastern Gas Hub in Pennsylvania saw a 47% increase to a new record of $59 per million British Thermal Units.
GMS, a leading ship recycler, says that it is in discussions to purchase Venezuelan-linked ships confiscated by the US
GMS, a leading ship recycling company in Dubai, has told its CEO that it has applied for a U.S. licence to purchase and scrap vessels seized by the U.S. Government linked to Venezuelan oil trading.
In recent weeks, the U.S. Coast Guard and military have seized seven vessels that either carried Venezuelan oil in their cargo or had done so previously.
The seizure was part of Washington’s campaign to force Venezuelan president Nicolas Maduro from power, which culminated with U.S. forces capture him on January 3.
Oil spills are possible while the vessels remain in the water. They are part of a shadow fleet that is characterized by aging vessels.
GMS, the largest recycler of ships and offshore vessels, purchases the vessels, and then sells them on to shipbreaking yards, including those in India and Bangladesh. These countries are home to some of the biggest scrapping industries.
Anil Sharma, the CEO and founder of Its, described shadow fleet tanks as "a ticking bomb". However, he said that since they were sanctioned they could not be recycled without a licence.
He said, "I hope the (U.S. government) fast-tracks" this.
It also said that the company had held discussions with State Department officials in recent weeks.
A Treasury spokesperson responded that while the U.S. Treasury does not comment on general license applications or correspondence related to them, they are "committed to finding responsible solutions" to remove these vessels from the water.
SCRAP VALUE
Scrap value for such vessels can reach tens or even hundreds of millions of dollars depending on their type and weight.
Sources say that the U.S. has applied for court warrants in order to seize more than a dozen tankers connected to Venezuelan oil.
Shipping industry sources say that detaining the seized ships?requires U.S. Government agency support, such as from the U.S. Coast Guard. This ties up resources, and costs.
GMS analysis revealed that in 2025, 16 of the tankers hit by sanctions would be recycled at yards that were willing to take them. This compares with only one tanker being recycled in 2024, and just one in 2023.
According to GMS analysis, the vessels were recycled through non-U.S. dollars transactions.
Industry officials said that such scrapping would have violated U.S. restrictions, and sanctions could have been imposed on the vessels due to their blacklisting.
GMS, a company incorporated in the United States bought the North Korean bulk carrier Wise Honorest?in 2019 at a U.S. public auction. The vessel had been seized by Indonesia and forfeited back to Washington in 2018 for U.S. sanction violations.
Sharma stated that despite the complex banking aspects of this transaction, and even with an approval from the U.S., it demonstrated that there was "a precedent" for disposing of ships which violated sanctions.
According to Lloyd's List Intelligence, the total fleet of tankers working with oil sanctioned from Russia, Iran, and Venezuela includes 1423 vessels, 921 of which are under U.S. British or EU sanctions. (Reporting and editing by Jonathan Saul, Timothy Gardner)
(source: Reuters)