Latest News
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Port Hedland, Australia's iron-ore hub, resumes its operations following tropical cyclone Mitchell
Port Hedland in Western Australia, the largest iron ore export hub in the world, resumed its operations at 12 noon on Sunday after being cleared on Friday as Tropical Cyclone Mitchell developed near the coast of the resource rich Pilbara region. Pilbara Ports cleared the Port of Port Hedland, along with Ashburton, Cape Preston West and Dampier, on Friday, after Australia's Weather Bureau warned that a tropical low could develop off the coast of Western Australia by Saturday morning. The Pilbara Ports website stated that while the Port of Port Hedland is now open, Ashburton and Cape Preston West remain closed. An alert will be sent out once it is safe for them to reopen. Tropical Cyclone Mitchell intensified on Sunday, as it moved towards Australia's remote north-west, where Port Hedland is located, about 1,300 km away from Perth, the state capital. Hancock Prospecting, BHP Group and Fortescue are among the miners who use this port. (Reporting and editing by Rashmi aich in Bengaluru, Nikita Maria jino from Bengaluru)
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WSJ reports that Kroger will name former Walmart executive Greg Foran as its next CEO
The Wall Street Journal, citing sources familiar with the situation, reported that Kroger is planning to hire Greg Foran as its new CEO. The U.S. grocery giant has been looking for a permanent chief executive officer after Rodney McMullen was ousted last year following a board inquiry that determined that his personal conduct was "inconsistent with certain company policies." The WSJ reported that Kroger will announce the choice by Monday. The report could not be immediately verified. Kroger didn't immediately respond to a?request for comment. Foran, a New Zealander born in Foran, was CEO of Air New Zealand between February 2020 and October 2025. Foran joined Air New Zealand as the COVID-19 Pandemic was looming. Taken on A series of crises has occurred, from the persistent shortage of engine components up to the grounding or 11 aircraft. Prior to joining Air New Zealand?Foran served as the President and CEO of Walmart U.S. operations. Credited The business was turned around by improving the existing stores. The unit has reported 20 consecutive quarters of "comparable" sales growth. After McMullen was unexpectedly ousted, Kroger's Board appointed?Ronald Sargent to be interim CEO. It created a committee to conduct a thorough search and hired a firm. (Reporting by Chandni Shah in Bengaluru; Additional reporting by Abu Sultan in Bengaluru; Editing by Cynthia Osterman)
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Talgo, a Spanish company, has been contracted by Saudi Arabia to build 20 high-speed trains.
The company, along with Spain's transport minister, announced on Sunday that Saudi Arabia had ordered 20 high-speed trains. Talgo announced in a?statement that the deal added 1.33 billion euro ($1.57 billion), bringing its backlog to nearly?6billion euros, which is a record. The contract also covers maintenance of the trains. The agreement will 'boost the reputation of Spanish rail, which suffered a heavy blow after a fatal train crash near Cordoba in last month. The accident raised concerns about whether the investment in maintaining the network keeps pace with a soaring passenger demand. In a X.com post, Transport Minister Oscar Puente praised the deal. He wrote: "We guarantee that (state rail company) @Renfe will continue to manage Saudi high-speed railway until 2038, and we'll purchase 20 new trains from @TalgoGroup for our companies with a total of 2.8 billion Euros." Since 2018, the Saudi Arabian rail system operates Talgo trains. The exchange rate is $1 = 0.8463 Euros (Reporting and editing by Joe Bavier; Reporting by Graham Keeley)
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El Al fined $39 Million by Israeli antitrust for price gouging in war
Israel's Competition Authority announced on Sunday that it would levy a fine on El Al Israel Airlines of 121 million shekels (about $39 mln) for setting unfair and excessive airfares during Israel’s Gaza War. The maximum fine allowed by law is the fine. The antitrust agency said that it had reviewed the period between October 7, 2023 and May 20, 2024, and found El Al to be a monopoly operator on 38 of its 53 routes, including New York, London and Paris as well as Bangkok and other destinations in the United States and Europe. The report found that the average ticket price rose by 16%, and in some cases as high as 31%. It noted that most foreign airlines had stopped flights. El Al "categorically rejected" the claim it charged excessive rates during the war. AIRLINE TO ARGUE a case in the future? It said that even if it accepted the Competition Authority's claim, which stated that the average price rise during the war was 16%, a number?we believe incorrect, there are no precedents to determine whether such an increase is excessive pricing. El Al is confident of its position being accepted at the hearing, as well as in any other appropriate legal forum. The antitrust body stated in a statement: "El Al’s price increases were excessive and unfair, and justified enforcement action by Competition Authority. It added that freedom of travel to and from Israel is a basic right. "Under the circumstances?of the war, exercising this rights became immeasurably important, especially during first months of combat... Consumers were almost completely dependent on El Al to provide an essential service of highest importance." No Sign of Lower Fares The evidence presented by the study showed that, despite the return of foreign airlines, it did not result in lower airfares because many consumers chose to buy tickets from El Al out of fear of cancellations. Competition authorities around the world use findings of "excessive pricing gouging" only 'rarely and with caution. During the war, smaller Israeli carriers Arkia (Israir) and Arkia (Arkia) also operated. El Al's net profit in 2024 increased by nearly five times to $545 million. Many passengers accused the airline of price-gouging. In the first nine-months of 2025, it made $364.1 millions.
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Meloni and IOC condemn clashes after protests in Olympic host Milan
Giorgia Melons, the Italian prime minister, called anti-Olympics demonstrators "enemies" of Italy after violence on the fringes a protest in Milan Saturday night and sabotage of the national rail system. The International Olympic Committee (IOC)?also??joined the criticism by saying that violence has no place in the Games. The incidents occurred on the first day of competition at the Winter Games, which Milan, Italy's capital of finance, and the Alpine town Cortina D'Ampezzo are hosting. Meloni thanked the thousands of Italians working to ensure the Games ran smoothly and presented a positive image of Italy. "There are also those who are against Italy and the?Italians. They demonstrate 'against Olympic' and ensure that these images appear on TV screens all over the world. She wrote about it on Instagram Sunday. "After others?cut railway cables to stop trains from leaving," she said. After the railway sabotage in Bologna, the Italian Transport Ministry announced that an investigation into suspected terrorism was launched. GAMES SEEK UNITY A group consisting of 100 protesters, who broke away from the main demonstration in Milan, hurled firecrackers at police officers and threw smoke bombs. They also threw bottles. A protest of 10,000 people took place in the streets to protest housing costs and concerns about the environment linked with the Games. "Peaceful demonstration is perfectly legitimate... we draw a line against violence." Mark Adams, IOC spokesperson, told a press conference that violence has no place in the Olympic Games. "We need to move forward with the Games, which will send a strong message of unity and peace around the world. I believe that this is a very important moment at the present time." Three separate incidents occurred on Saturday at different locations in the rail network, causing delays of up to two and a half hours for regional, high-speed and Intercity services. The Transport Ministry stated that "decisional action will be taken" to stop such "unacceptable acts", which cause inconvenience for millions of Italians. The damage has not been attributed to anyone. It is reminiscent of the chaos caused by sabotage on the first day of the Summer Olympic Games 2024 in Paris when saboteurs attacked France's TGV high-speed train network. (Written by Keith Weir, edited by Aidan Lewis and Hugh Lawson).
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Meloni condemns "enemies" of Italy after clashes at the Olympic host city Milan
Giorgia Melons, the Italian prime minister, has called anti-Olympics demonstrators "enemies" of Italy after violent incidents on the fringes?of a protest in Milan Saturday night?and sabotage?attacks?on the national rail network. The incidents occurred on the first full day of competition at the Winter Games, which Milan, Italy's capital of finance, hosts with the Alpine village of Cortina D'Ampezzo. Meloni thanked the thousands of Italians working to ensure the Games ran smoothly and present a positive image of Italy. "There are also those who are hostile to?Italy or Italians and are demonstrating against the Olympics and making sure that these images appear on television screens all over the world. She wrote on Instagram that others had cut the railway cables in order to stop trains from leaving. After breaking away from a large demonstration in Milan, a group of about 100 protesters hurled 'firecrackers smoke bombs and bottle at police. A protest of 10,000 people took place in the streets to protest housing costs and the environmental impact of the Games. Six people were arrested after police used water cannons to restore order. Authorities said that saboteurs also damaged rail infrastructure in the area of Bologna (a northern Italian city), disrupting train journeys. Three separate incidents were reported by the police at three different locations. These caused delays up to?to 2 1/2 hours for regional, high-speed and Intercity services. No one has claimed liability for the damages. Meloni added, "Once more, I am in solidarity with the police and the city of Milan as well as all those who are going to be affected by the criminal gangs." Meloni is the leader of a right-wing alliance. After violence at a protest of the hard left in Turin last weekend, which injured more than 100 officers, the Italian police has been granted new arrest powers. (Written by Keith Weir, edited by Aidan Lewis).
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Ukraine sanctions foreign suppliers of missile components to Russia
On Sunday, Ukrainian President Volodymyr Zelenskiy announced that he would impose sanctions on certain foreign manufacturers who produce components for Russian drones and rockets used against Ukraine. Zelenskiy, a Russian journalist on X, said: "It is impossible to produce this weaponry without the critical foreign components that Russia continues to obtain through circumventing sanctions." "We will introduce new sanctions against such companies, including component suppliers and manufacturers of drones and missiles. I have signed all relevant decisions. According to two decrees published by the Ukrainian president, sanctions are being imposed on several Chinese companies, as well as companies from the United Arab Emirates, Panama, and the former Soviet Union. In recent months, Russia increased its missile and drone attacks against Ukraine despite negotiations to end the war. Its focus was on the energy and logistics sectors. Zelenskiy stated on X, that Russia has launched over 2,000 drones and guided aerial bombs in the last week. Strikes at power stations and substations left whole regions without electricity and heating. In the capital Kyiv, blackouts lasted up to 20 hours. Zelenskiy also said that he had imposed sanctions on the Russian financial sector, and against bodies and individuals who support Russian crypto markets and mining operations.
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American Airlines CEO meets with pilots union to discuss concerns
Robert Isom, American Airlines' CEO, said on Saturday that he would be meeting with the carrier's Pilots Union as soon as he could. Aviators are growing increasingly concerned about the company's handling of recent storms and financials. Isom wrote to Allied Pilots Association president Nick Silva that he had discussed with the board of the U.S. airline?the union’s request for a meet-up. Isom wrote in a letter to? that "the Board and I are aligned with you" in their desire to make American Airlines the'strongest airline in every way possible." The union that represents more than 16,000 American Airlines Pilots asked management on Friday to bring their concerns to the board of directors. Pilots are asking for this as the airline is trying to convince investors that it can close a gap in profits with its?rivals, and bring about a sustained turnaround. Employees have also criticized the carrier's handling of a storm that hit the United States in January. The Allied Pilots Association Board of Directors wrote on Friday to the board of directors of the carrier, "This assessment does not result from a single conversation with management, a?isolated operation disruption, or a?individual?earnings statement; it's the result persistent patterns of operational and cultural shortcomings, as well as strategic weaknesses."
Trump Administration appeals the ruling on releasing New York City Tunnel funds
According to a court filing, the U.S. administration of President Donald Trump appealed on Sunday against a decision that required the Transportation Department unfreeze federal funds for the $16 billion Hudson Tunnel Project in New York. U.S. district judge Jeannette Vargas issued a preliminary order on Friday requiring the federal government release funds to a project that will overhaul critical rail infrastructure throughout New York and New Jersey. On?Sunday, the Trump administration filed an appeal notice. The Transportation Department announced in September that funding was frozen pending an assessment of the project's conformity with the new federal bans on race and gender-based discrimination in contracting decisions.
Sources claim that Trump offered to unfreeze funds last month in exchange for Democrats' support to rename Washington Dulles Airport, and New York Penn Station, after him. Democrats strongly criticised?the proposal. The Gateway Project is intended to repair and build a new commuter tunnel between Manhattan, New Jersey and repairs a century old tunnel that's used by over 200,000 passengers and 425 trains every day. Vargas made her decision hours after New York City and New Jersey announced that construction would cease due to a lack of funding.
The Hudson Tunnel, which was heavily damaged by hurricane Sandy in 2012, requires frequent emergency repairs, causing travel to be disrupted on the nation's most heavily used passenger rail route.
The Gateway Development Commission issued a statement Friday, after Vargas' ruling. As soon as the funds are released, our workers will be back at work and we'll restart operations on site. Under former president Joe Biden, the project received federal funding of about $15 billion. So far, nearly $2 billion has already been spent. Helen Coster, Sergio Non and Jamie Freed edited by Edmund Klamann.
(source: Reuters)