Latest News
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Rome follows other European capitals in imposing a 30 kph speed limit for the city centre
Rome will be the next European capital to drastically reduce speed limits. This will force Italians, who are known for their breakneck driving, to slow down and reduce accidents and pollution. From Thursday, the?Eternal City?s?new limit is 30 kph (or 19 mph) in the historic center. This almost halves the previous limit of 50 kph on streets crowded with residents, tourists, and cars. "These roads are a reflection of a city that was built for cars, but no longer exists," Rome’s transport chief Eugenio Patiane told the?daily Corriere di Sera. He added that "lower speeds save lives", citing data that suggests speeding?plays a part in 7.5% the city's traffic accidents. Rome's lower-limit follows the example of European capitals like London, Brussels and Paris, which have already adopted a?slower street, safer streets?, sometimes overriding strong objections from motorists. Bologna, a city in northern Italy, saw a 13% drop in road accidents and fewer fatalities in the first year following its implementation of a 30-kph speed restriction in January 2024. Since his election as mayor of Rome in 2021, Roberto Gualtieri increased the number of speed cameras. He also urged residents to reduce reliance on their private cars. This was due to growing concerns about safety and emissions. The Supreme Court of Italy ruled in November that residents living along the city's ring road, which is a?congested route?, are entitled to compensation in the amount of 10,000 euros ($11 655) for exposure?to excessive sound and fine-particle pollutants. Local authorities have said that the lower speed limit will reduce noise pollution in Rome by about 2 decibels. ($1 = 0.8580 euro) (Written by Francesca Piscioneri, edited by Gavin Jones and Alison Williams).
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As global tourism spending rises, fewer foreigners will visit the US in 2025.
According to an industry group, the United States will see a drop of 6% in foreign visitors by 2025. However, global tourism is expected to surpass concerns about saturation in certain locations and generate a 6.7% increase in spending in comparison to last year. According to data from the World Travel and Tourism Council, more than 1.5 billion tourists spent over $11.7 trillion last year on hotels, cruises and flight. WTTC stated that the tourism industry contributed 10.3% to global GDP, and that spending on tourism grew twice as fast as global economic growth. WTTC interim president and CEO Gloria Guevara said that the increased travel of many people, particularly younger generations, has prompted them to visit countries in Europe, such as Spain, France and Japan. She said that in an interview with a Spanish newspaper, Latin Americans, including Colombians, and Mexicans, travel less to the U.S. WTTC estimates that as foreign tourism in the U.S. declined, foreign tourists spent 7% less money, and arrivals from Canada Mexico and Europe dropped. Spending by domestic tourists has offset this. The U.S. has the largest travel and tourism industry in the world. Guevara stated that the tourism industry is continuing to grow despite some locals' opposition in tourist hotspots. She said: "We haven't seen the impact of overtourism. And the best example, is exactly where it has been generated. Particularly in Europe and Japan, where we see another record." According to the WTTC, global tourism is expected to grow by 4.5% in 2026. This will again surpass global economic growth. WTTC estimates that France will receive 105 million tourists in 2025. This is well over the 68 millions who visited the U.S. in 2017. (Reporting and editing by Charlie Devereux, Aidan Lewis and Corina Pons)
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Environmental law group wants to investigate Meta's $27 Billion Louisiana data center financing
Earthjustice, a U.S. environmental group, asked Louisiana utility regulators on Wednesday to look into the financing of the $27 billion Meta data centre project. Earthjustice claims that the project threatens to put everyday homes and businesses at risk for the build-out costs. Environmental and consumer groups are pushing back on the expansion of energy-intensive data centers, arguing it will increase global warming emissions as well as power bills. Earthjustice's request to the Louisiana Public Service Commission is the first formal petition it has filed asking a utility regulator for an investigation into?datacenter financing. The group believes this is the first nationwide. The motion focuses on the financing of Meta’s largest data center project to date - a planned facility with a capacity exceeding 2?gigawatts in Richland Parish (Louisiana). Last year, the Louisiana Public Service Commission granted a request for the local utility to build three new gas fired electric generating plants and transmission lines in order to power this data center. Earthjustice reported that the original financing structure included a financial guarantee from the parent company, Meta, who was at the time the developer of the site. According to a later financial agreement announced by Meta and its joint-venture partner Blue Owl Capital a newly formed firm called Beignet Investors was named the "new owner" of the datacenter and parent company of project's developer. This analysis, reported by the Wall Street Journal, is cited by Earthjustice. Meta became a lessor. The new agreement allows Meta to terminate its lease early after only four years instead of the 15-year term initially agreed upon. This could allow it to avoid paying for energy costs or infrastructure construction costs. Earthjustice lawyer Susan Stevens Miller said that if Meta terminates the lease at the end of four years, Meta will not have paid for the costs associated with the generating station and the transmission. Stevens Miller stated that these costs would instead be passed on to the customers of local utilities. Meta and Blue Owl did not respond to requests for immediate comment.
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As tensions between the US and Iran rise, dozens of ships are anchored outside Iran's port.
In recent days, dozens of commercial ships dropped anchor outside Iran's ports, according to shipping and data sources. This is happening as tensions between the United States and Iran grow. Shipping sources said that such movements were "precautionary" given the tensions surrounding the ongoing protests in Iran. Port limits are important because they increase the risk of collateral damages in the event that air strikes hit nearby infrastructure. A U.S. official announced on Wednesday that the U.S. was withdrawing personnel from Middle East bases after a senior Iranian officials said Tehran warned its neighbours it would strike American bases if Washington struck Iran. For oil exports, the country is dependent on the seaborne trade using oil tankers and general cargo ships. Analysis by Pole Star Global, a provider of maritime intelligence solutions, shows that the number of tankers entering Iran's Exclusive Economic Zone (EEZ), which is a stretch of ocean along its Gulf coast and Caspian shores that extends up to 24 nautical miles beyond local territorial boundaries of 12 nautical mile, increased from 1 to 36 between January 6 to January 12. MarineTraffic, a ship tracking and maritime analysis provider, reported that at least 25 bulkers were anchored in Iran's EEZ near the port of Bandar imam Khomeini. MarineTraffic data revealed that 25 additional ships, including container and cargo ships, had dropped anchor further south near the port of Bandar Abbas. Israel launched airstrikes in June 2025 against targets in Bandar Abbas where at least '70 people died in unaccounted for blasts in April, and authorities have not ruled out sabotage. Iran's leadership is trying to quell the worst unrest that the Islamic Republic has ever seen. At the same time, Tehran wants to dissuade President Donald Trump from threatening to intervene in support of anti-government demonstrators. In a Monday note, the U.S. Navy Combined Maritime Force stated that the level of 'interference with GNSS Navigation Systems, including GPS, has increased to a "substantial degree" in the Gulf of and Strait of Hormuz region over the past week. This is most likely because of the force protection measures taken due to the political tensions that are ongoing in the area. The note warned that vessels transiting the area may be affected. (Reporting and editing by Alexander Smith; Jonathan Saul)
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France considers sending Eutelsat terminals in Iran during internet blackout
France may send Eutelsat satellite terminals in Iran to assist?citizens, after Iranian authorities imposed an internet blackout in an attempt to quell Iran's most violent internal unrest in years. The French Foreign Minister Jean-Noel Barrot responded to a question from a member of the Lower House on Wednesday, saying that he was exploring all options. Eutelsat, owned by the French and British governments, is the only constellation of low-Earth orbit satellites (or group) that exists besides Elon Musk’s Starlink. Satellites beam broadband internet to consumers, businesses, governments and underserved regions. In recent days, Iranian authorities have launched a "deadly" crackdown which has killed thousands of people during protests against the clerical regime. They also imposed an almost complete shutdown of internet services. Three people in the country have confirmed that some Iranians are still able to connect to Starlink satellite Internet service. Alp Toker of NetBlocks, an internet monitoring group, said this week that even Starlink appears to have been reduced. Eutelsat refused to comment on Barrot's remarks or its activities in Iran when asked by. Starlink has more than 9,000 satellites, which allows for faster speeds than Eutelsat’s fleet of over 600. Its terminals that connect users to the network also cost less and are easier to install. Eutelsat provides internet access for Ukraine's military. Starlink has been used to maintain battlefield connectivity throughout the war against Russia. OneWeb terminals, according to Carlos?Placido, an independent satellite communications advisor, are larger and more difficult to jam than Starlink terminals. Placido explained that the sheer size of the Starlink constellation made jamming more difficult, but not impossible. OneWeb makes it easier to predict the satellites that will be online at any given time and location. (Reporting and editing by Hugh Lawson; Inti Lo Nostro and Gianluca L. Nostro)
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Ukraine will not limit gas supplies to consumers in spite of Russian attacks
The head of the?state energy firm Naftogaz stated on Wednesday that Ukraine would not limit gas supplies to its citizens and businesses, despite Russian attacks which have 'damaged Ukrainian infrastructure and curtailed their production. Since last year, Russia has been?attacking? Ukraine's energy industry almost every day. It targets electricity producers and transmission networks as well as gas transportation and production facilities. Sergii Koretskyi, Naftogaz's boss, wrote on Facebook: "All gas consumers are supplied despite the systematic attacks of the enemy against?gas infrastructure. Then energy minister Svitlana Hrynchuk stated that her team was already working on scenarios and preparing restrictions on gas supplies to the industry and population for the first since Russia's invasion in 2022 sparked the war. Koretskyi responded to information that was circulating in the Telegram messaging application, which suggested that these restrictions had now been implemented. "There are not any restrictions" "This is totally false," he wrote. He added that there was no plan to reduce gas supplies. Ukraine has cut its electricity supply to the people and businesses. Many regions are without power for almost half the day. Ukraine was able to meet its gas requirements almost entirely through its own production before the Russian attack on the sector. After the attacks, Ukraine increased its gas imports from both the EU and the United States. Denys Shmyhal, the former prime minister of Ukraine, was appointed as new energy Minister by Ukraine's Parliament on Wednesday. He stated that his primary task is to "resume domestic production". He told the parliament that "we need to rebuild damaged distribution stations and pipelines of gas, restore backup supply schemes for consumers who are critical, and improve reliability of gas storage facility." (Reporting and editing by Joe Bavier; Pavel Polityuk)
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Freeport LNG Export Plant in Texas will take in more natgas Wednesday after a reduction on Tuesday - LSEG Data
Freeport LNG’s export plant in Texas is on track to 'take in more natural gases on Wednesday, after flow?declined? on Tuesday. This was a sign that the?plant _was _recovering from some disruption earlier this week. The U.S. facility is one of the U.S. exporting liquefied gas facilities that are closely monitored in the world. Operational changes could cause price swings on global gas markets. Gas prices in the U.S. are usually lower due to a decrease in demand from the export plant. Prices in Europe are usually higher due to the reduced LNG supply available on global markets. The U.S. futures market fell by about 5% on Wednesday, mainly due to the uncertainty surrounding the possible reduction of gas supplies to Freeport. Prices in Europe were also up about 4%, reaching a new three-month high. This was mainly due to the colder weather forecasts for Europe but in part due to the reduced gas flow to U.S. export LNG plants, such as Freeport. Freeport officials did not comment on Wednesday. LSEG stated that gas flows to Freeport are on track to increase to 1.4 billion cubic foot per day (bcfd), up from 0.7 bcfd Tuesday. This compares to an average of 1.9 bcfd for the previous seven days. Three liquefaction plants at Freeport can?convert about 2.4 billion cubic feet of gas per day into LNG. A billion cubic feet of natural gas can supply 5 million U.S. households for one day. Reporting by Scott DiSavino Editing Mark Potter and Bernadettebaum
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Ryanair reduces capacity between Brussels Charleroi and Charleroi due to the passenger tax
Ryanair will operate 10% fewer flights from Brussels Charleroi Airport, due to the new 3-euro ($3.50), passenger tax that takes effect in April. Michael O'Leary, the Group Chief Executive of Irish Airlines, told reporters that the airline would reduce its annual seat total from 10.5 million to 1.1 million. He said: "We will continue to cut until the Belgian government... abolishes all these stupid taxes." New aircraft are being sent to Sweden and Albania, while some aircraft will be moved to other locations. This year, we'll be adding four new aircraft at Stockholm. O'Leary stated that in Albania there are no taxes and we're opening four aircraft bases. "We're thinking this winter we're going to move four or even five of these aircraft out of Charleroi. "They'll be going to Slovakia, Italy, and Sweden. That's what these taxes do," added he. He said that the EU must do more to maintain European aviation's competitiveness, including by including non-European flights in its Emissions Trading Scheme. The scheme gives airlines an allowance for emissions and requires them to 'buy carbon credits' in order to make up any excess emissions. The EU originally limited the scope for ETS to airlines in 'the European Economic Area. This decision has been extended multiple times. The European Commission is required to review this limit by July, before it expires at the beginning of 2027. Either we force non-Europeans to pay ETS, or we lower the ETS rates for Europeans. O'Leary stated that aviation is one of few industries in which Europe is more competitive than the United States. Ryanair, he said, has decided not to add Elon Musk's Starlink Internet to its aircraft due to the additional fuel costs and flight duration.
Brazil's Azul eyes fresh capital raising after financial obligation handle lessors
Brazilian airline Azul is seeking to raise fresh capital after it clinched a. deal with lessors to scrap nearly $550 million in obligations,. alleviating market concerns about its financial obligation load, the company's chief. executive informed Reuters on Tuesday.
Shares in the carrier jumped after it announced the excitedly. awaited deal with lessors and devices manufacturers. ( OEMs), agreeing to provide an equity stake to get rid of some. obligations.
We needed to resolve this problem initially and now we can raise. capital, John Rodgerson said in an interview. We can look. forward and not backwards.
Azul now intends to raise about $400 million, Rodgerson said,. potentially using subsidiary Azul Freight as security.
The business, which controls Brazil's airline company market. along with LATAM and Gol, likewise depends on. getting cash soon from a
credit line
authorized by the government to help local carriers.
As we said, we were going to utilize Azul Cargo to raise financial obligation. - possibly a convertible financial obligation - to reinforce us and assist us. grow, understanding now that the money will not go to lessors as that. matter has actually been dealt with, Rodgerson stated.
He kept in mind the business has actually remained in amicable talks with. shareholders however there were lots of people willing to obtain Azul. cash, expanding the company's options as it looks at several. types of financial obligation for a possible deal.
' ESSENTIAL PIECE'. Azul late on Monday stated it reached business contracts with. lessors and OEMs holding about 92% of its existing equity. issuance commitments to settle them with an equity stake.
Under the offer, lessors and OEMs consented to get rid of. responsibilities totaling some 3 billion reais ($ 544.64 million) and. will receive, in exchange, as much as 100 million new preferred. shares of Azul in a one-time issuance.
Genial Investimentos analysts said the move, despite the. shareholder dilution, was a basic piece in Azul's effort. to strengthen money generation and enhance its capital structure,. supplying significant monetary relief. Reuters first reported last month that Azul was close to. clinching the debt-for-equity swap with lessors.
Investors cheered the news, with Sao Paulo-traded shares of. Azul jumping as much as 21.7% on Tuesday.
The statement gets rid of the short-term overhang associated to. a possible Chapter 11 filing, which caused a. 17-percentage-point underperformance considering that late August,. JPMorgan expert Guilherme Mendes stated. He referred to media reports that suggested the company was. thinking about a Chapter 11 filing. Mendes approximated the fresh deal. to suggest an equity dilution of around 23%, with the 100 million. shares valued at 575 million reais as of Monday's closing. Azul first struck a handle lessors and OEMs in 2023 to provide. them as much as $570 million in preferred shares valued at 36 reais. each, part of a wider restructuring that likewise postponed financial obligation. maturities and raised extra capital. But its shares had actually dropped more than 60% this year as it. struggled with a weaker currency exchange rate and disastrous flooding in. the crucial market of Porto Alegre, setting off the need for another. restructuring.
(source: Reuters)