Latest News
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Trump calls on lawmakers to give healthcare funds 'directly' to the people
The President Donald Trump floated on Saturday a possible compromise amid the impasse surrounding the U.S. Government shutdown. He urged Republicans to redirect federal funds that are currently going to health insurance companies in accordance with the Affordable Care Act to give them to individuals. Trump said in a post on social media that he recommended to Senate Republicans to send the hundreds of billions of dollars currently going to Insurance Companies to save the poor Healthcare provided by ObamaCare directly to the people so they can purchase their own, much better, healthcare and still have money leftover. He added that the "worst healthcare anywhere in the world, ObamaCare, is the one provided by the BAD, BIG Insurance Companies. Take it from them and give it to people. Trump's remarks on Truth Social were made just hours before the U.S. Senate reconvened at noon (1700 GMT), after rejecting legislation that would have reinstated pay for hundreds of thousands federal workers who had been without pay during the longest U.S. shutdown in history. The two sides are still at odds on how to reopen government. Democrats want to include in a funding measure the healthcare subsidies for 24 million Americans that will expire at the end of this year. Republicans, however, say Congress should first pass a bill with no strings attached to allow government reopening. White House representatives did not respond immediately to a comment request on Trump's tweet. The representatives of U.S. Senate Democratic Leader Chuck Schumer and U.S. Senate majority leader John Thune did not respond immediately to a comment request. (Reporting and editing by Alistair Bell, Sergio Non, and Jonathan Landay)
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Tornado in southern Brazil kills six, injures hundreds
The state government reported that a tornado, accompanied by high winds and heavy rainfall, struck Parana in the south of Brazil, killing six. Rio Bonito do Iguacu, the town that was hardest hit, suffered multiple structural failures and roof collapses. The state's civil defence agency reported that more than half of the city area had been affected. The power lines and roads were damaged. The authorities reported that 437 people received treatment for injuries, and approximately 1,000 were forced to relocate. Guarapuava, a nearby city, was also affected. According to the Parana Meteorology and Environmental Monitoring System the winds of the tornado reached speeds between 180 km/h (111mph) and 250 km/h (155mph). Gleisi-Hoffman, the Institutional Relations Minister, said that she will travel to the affected area with Adriano Massuda, acting Minister of Health and other federal officials on Saturday to assist in relief and reconstruction efforts. "We will continue our assistance to the people of Parana, and provide any help that is needed," wrote President Luiz inacio da Silva on X. He also expressed condolences to families of the victims. (Reporting and editing by Alistair Bell; Marcela Ayres)
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US cuts flights for a second day as the shutdown continues
U.S. Airlines and travelers endured a second day on Saturday of flight cancellations across the nation as the shutdown is expected to cause more cancellations over the next few days. Due to the shutdown, the Federal Aviation Administration has instructed airlines to reduce 4% of flights at 40 major airports on Saturday. The cut will increase to 6% by Tuesday, and to 10% on November 14. These cuts began at 6 am. About 700 flights were affected by the cuts on Friday morning, 1100 GMT, from American Airlines, Delta Air Lines and Southwest Airlines. Due to a lower volume of flights, airlines will cancel fewer flights Saturday than they did on Friday. United Airlines will cancel 168 flights on Saturday, down from Friday's 184, and Southwest will cancel a little under 100 flights. The record-breaking 39-day shutdown of the government has forced 13,000 air traffic control operators and 50,000 security screening workers to work without pay. This has led to an increase in absenteeism. On Thursday, many air traffic controllers learned that they wouldn't be paid for the second pay period in the next week. The Trump administration is increasing pressure on Congressional Democrats in order to get them to accept a Republican-led plan to fund federal government and reopen it. One such attempt is to raise the specter dramatic disruptions in air travel. Democrats claim Republicans are responsible for the shutdown, because they refused to negotiate on extending health insurance subsides. Sean Duffy, the U.S. Transportation secretary, said that he might require a 20% cut in air traffic if conditions worsen and more controllers fail to show up. Duffy stated, "I evaluate the data." We're going make decisions based upon what we observe in the airspace. In addition to the cancellations, the FAA was forced by the absence of air traffic control on Friday to delay hundreds flights in 10 airports, including Atlanta, San Francisco Houston, Phoenix, Washington D.C. and Newark. Over 5,600 flights were canceled or delayed on Friday. In a statement earlier this week, FAA Administrator Bryan Bedford stated that 20% to 40% controllers did not show up to work on any particular day.
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UPS grounds its MD-11 fleet after Louisville crash
UPS announced on Friday that it had grounded its fleet McDonnell Douglas MD-11s. This is the type of aircraft involved in the crash of Tuesday in Louisville, Kentucky which resulted in at least 13 deaths. UPS spokesperson stated in an email that "out of an abundance caution and for the sake of safety, we've made the decision to ground temporarily our MD-11 fleet". The spokesperson said that MD-11s make up about 9% the fleet of the company. The grounding takes effect immediately. NBC News was the first to report on this news. On Tuesday evening, a UPS cargo flight bound for Honolulu took off. crashed just after takeoff at Louisville International Airport. U.S. safety inspectors reported that three UPS pilots tried to control the cargo plane as the bell rang in the cockpit on Friday. Todd Inman, National Transportation Safety Board Member, says that UPS flight 2976 began without incident, but a repeated bell could be heard in the cockpit voice recorder 37 seconds after the crew had called for the takeoff thrust. Tell reporters. FedEx and Boeing, who own the MD-11 program following their 1997 merger, both operate MD-11 cargo planes, but did not respond immediately to comments. Reporting by Rishabh J. Jaiswal in Bengaluru and Dheeraj K. Kumar; Editing by William Mallard, Thomas Derpinghaus
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Philippines warns against deadly storm surges when Typhoon Fung Wong approaches super-typhoon strength
The Philippines' weather bureau has warned of potentially life-threatening storm waves of up to 5 metres, and of destructive winds. Typhoon Fung Wong is expected to make landfall in the eastern part of the country on Sunday evening. Benison Estareja, PAGASA's weather forecaster, said that the typhoon has already pounded parts of eastern Philippines, with its massive circulation spanning 1,500 km (932 miles). Estareja stated that "it can cover nearly the entire country." Fung-wong (locally called Uwan) is packing winds up to 170 km/h with gusts as high as 140 kph. As it approaches land, Estareja says, the wind speed could increase to 185 kph. This powerful wind can destroy houses, toppling trees and other structures. As much as 200 mm is expected to fall in eastern Philippine provinces. This includes the Bicol region and parts of Samar. The risk of flooding and landslides are increased. PAGASA warned residents of low-lying coastal and low-lying areas to move to higher ground, stop all marine activities and evacuate. They also warned about violent winds and storm surges which could flood coastal communities. A number of local governments have cancelled classes on Monday and the Philippine flag carrier has canceled some flights ahead of Fung Wong's anticipated landfall. The warning comes only days after the Typhoon Kalmaegi wreaked havoc across the region by tearing through coastal communities and destroying roofs, windows, and trees. Kalmaegi caused the deaths of 204 Filipinos and five Vietnamese, displace hundreds of thousands and knock out power in large areas. Vietnam's disaster agency said that nearly 2,800 houses were damaged and about 500,000 people are still without electricity. In the Philippines, violent floods have destroyed homes and blocked streets with debris. Due to their location along the Pacific typhoon Belt, Vietnam and the Philippines regularly experience damage and fatalities during peak storm season. In Thailand, Kalmaegi’s impact lasted for a long time and caused heavy rainfall and flooding in the northeast and central areas. Scientists warn that global warming is increasing the power of storms like Kalmaegi. (Reporting and editing by Himani Sarkar; Additional reporting in Vietnam by Phuong nguyen, and Chayut setboonsarng from Bangkok.
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Amazon expands its low-cost service to the world
Amazon.com announced on Friday that it has expanded its low cost e-commerce services Amazon Bazaar (known as Haul in America) to 14 more markets. This will increase competition with Chinese competitors like Shein, PDD Holdings Temu, and Shein's Shein in the race to sell ultra cheap goods such as $10 dresses and $5 accessory. The impact of the massive import tariffs that President Donald Trump imposed on U.S. consumers, particularly those with lower incomes, has been felt, as they often look for cheaper deals. Amazon Bazaar, a standalone app, offers merchandise similar to Amazon Haul, a budget-friendly section of the Amazon app launched last year. Amazon Bazaar will be delivering a large number of products under $10, and even some for as little as $2, to its new markets. These include everything from fashion to home goods. Hong Kong, Nigeria, Taiwan and the Philippines are among the newest markets for this low-cost online service, according to the company. Bazaar has expanded from Mexico to Saudi Arabia and United Arab Emirates since its launch. D.A. Gil Luria, analyst at Davidson & Co. "Amazon only entered a new market when it thought it could scale up to the point where it would delight consumers and build a profitable business." Luria stated that Amazon takes many years to reach profitability when entering new markets and countries. The company reported a third-quarter revenue of $40.9billion, an increase of 10% over the previous period. Luria stated that if the company can develop a business of selling low-cost products with a high level of service, they could expand to almost every country around the globe. Amazon Bazaar products are delivered directly to customers via the network of its service partners. They come from Amazon's global fulfillment center. Shein and Temu are also expanding outside of the United States. According to Shein's website, the company now has operations in over 160 countries, including the U.S.A., Brazil and Ireland. Temu ships at least to 70 countries. Both companies' U.S. operations were hit by the Trump administration's ban on de minimis. This trade exemption allowed packages worth less than $800 into the country duty free. Amazon launched Haul as an in-app service in the U.S. back in 2024. Since then, the company has expanded it to Britain, Germany France, Italy, Spain and Australia. Reporting by Arriana Mclymore in New York, and Anuja Bharata Mistry in Bengaluru. Editing by Anil d'Silva and Matthew Lewis.
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NTSB: Crew of UPS cargo flight that crashed tried to control the aircraft before crash
The National Transportation Safety Board reported on Friday that three UPS pilots were trying to control the cargo plane when a bell went off in the cockpit. This week, a cargo plane crashed in Louisville, Kentucky killing at least thirteen people. Todd Inman, NTSB member, told reporters that UPS flight 2976 began without incident. However, the flight's cockpit voice recorder recorded a bell that repeated 37 seconds after the crew had called for the takeoff thrust. Inman believes that the bell continued to ring until 25 seconds after the recording ended, signaling the crash of the aircraft. Inman stated that the crew was trying to control the plane before it crashed. A spokesperson stated that the NTSB expects to release a preliminary report within 30 days. Crash destroys two businesses Independent U.S. safety agency leads the investigation into the crash at Louisville airport of the MD-11 freighter, a 34-year old aircraft. The plane soared to about 100 feet (30 meters) before bursting into flames and destroying the two businesses. As the plane rolled down the Louisville Airport runway, one of its three engines separated from the left wing. Inman stated that the bulk of the left pylon (a structural component linking the aircraft engine with the wing or fuselage) was still attached to it when the left motor separated from the left wing. He said, "Now, there may have been damage caused by its impact on the terrain." On the runway, investigators found debris from the engine. Investigators are also looking into the maintenance history of the aircraft, including six weeks this fall during which it was heavily maintained at a San Antonio repair facility in Texas. Inman stated that a transcript of the cockpit's voice recorder, which contains two hours and four good quality digitally-recorded audio, would be made public within several months. Multiple factors are usually involved in air crashes.
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NTSB: Crew of UPS cargo flight that crashed tried to control the aircraft before crash
The National Transportation Safety Board reported on Friday that three UPS pilots were trying to control the cargo plane when a bell went off in the cockpit. This week, a cargo plane crashed in Louisville, Kentucky killing at least thirteen people. Todd Inman, NTSB member, told reporters that UPS flight 2976 began without incident. However, the flight's cockpit voice recorder recorded a bell ringing 37 seconds after the crew had called for the takeoff thrust. Inman believes that the bell continued to ring until 25 seconds after the recording ended, signaling the crash of the aircraft. Inman stated that the crew was trying to control the plane before it crashed. Crash destroys two businesses Independent U.S. safety agency leads the investigation into the crash at Louisville airport of the MD-11 freighter, a 34-year old aircraft. The plane reached a height of about 100 feet (30 meters) before it crashed in flames and destroyed two businesses. As the plane rolled down the Louisville Airport runway, one of its three engines separated from the left wing. Inman stated that the bulk of the left pylon (a structural component linking the aircraft engine with the wing or fuselage) was still attached to it when the left motor separated from the wing. He said, "Now, subsequently there could have been damage caused by its impact on the terrain." On the runway, investigators found debris from the engine. Investigators are also looking into the maintenance history of the aircraft, including six weeks this fall during which it was heavily maintained at a San Antonio repair facility in Texas. Inman stated that a transcript of the cockpit's voice recorder, which contains two hours and four good quality digitally-recorded audio, would be made public within several months. A crash in the air is usually caused by a number of factors. The preliminary report should be expected within 30 days.
Companies withdraw their guidance in the wake of Trump's tariffs
The tariffs that President Donald Trump imposed on April 2, and the subsequent pauses in some cases, have created uncertainty among companies around the world. Some of these companies have withdrawn or stopped giving financial guidance.
This is a list that includes companies who have taken such steps:
AUTOS & TRANSPORTATION
AUTINS GROUP A UK-based company that sells car components delayed its release of market guidance for the month of April, citing the uncertainty created by U.S. Tariffs.
CUMMINS The U.S. truck engine maker withdrawn its annual forecast on 5 May.
Ford The U.S. automaker suspended its annual guidance May 5 after claiming that the levies will cost the company approximately $1.5 billion before interest and tax in adjusted earnings.
GENERAL MOTORS On May 1, General Motors, the U.S. automaker, cut its profit forecast for 2025 two days after removing its annual guidance despite reporting strong quarter results and receiving some clarity on automotive tariffs from the White House.
It also suspended plans to purchase $2 billion worth of shares during the first half year until the economy is more clarified.
MERCEDES On April 30, the German group retracted its earnings guidance for 2020 after it reported a sharply lower first quarter profit.
POLESTAR On April 30, the U.S.-listed Swedish electric vehicle maker put a pause on its 2025 forecast as it prepares for possible tariffs.
STELLANTIS The French-Italian-American group on April 30 suspended its guidance for a moderate recovery this year, after a profit drop in 2024, and said it would review capital spending plans.
VOLVO CARS On April 29, the group, which is one of the European automakers most vulnerable to U.S. Tariffs, announced a cost-cutting program of 18 billion Swedish crowns (about $1.9 billion), a restructuring of their U.S. operations, and it retracted its earnings forecasts for the next two year.
AEROSPACE AND DEFENSE
ALASKA GROUP ALASKA Air Group, Seattle's airline, withdrew on April 23, its financial forecast for the full year citing macroeconomic uncertainties.
AMERICAN AIRLINES On April 24, the U.S. carrier canceled its financial forecast for 2025.
JETBLUE AERIALWAYS On April 29, the U.S. airline group canceled its forecast for 2025, citing economic uncertainty as a reason.
DELTA AIR LINES On April 9, the U.S. airline retracted its financial forecasts for 2025. It said that travel demand has "largely stalled", as tariffs have fueled economic uncertainty.
FRONTIER GROUP On April 11, Frontier Airlines' parent company, Frontier Group, retracted its full-year outlook and warned that it would suffer a loss for the first quarter.
SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWAST AIRLINES SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEAT AIRLINES SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST ASIA The U.S. airline group canceled its financial forecasts on April 23
HEALTHCARE
BELLUSCURA On April 8, the U.S. medical device manufacturer retracted its 2025 guidance due to U.S. Tariffs on China.
UNITEDHEALTH GROUP The Company suspended its annual forecast because of surging medical costs, while CEO Andrew Witty resigned May 13.
Retail and Consumers
AMERICAN OUTFITTERS - The apparel company retracted its annual forecasts from May 13 because of economic uncertainty fuelled by tariffs.
Beyond Meat
The California-based company retracted its annual sales goal on May 7,
Citation
Weak consumer demand in the U.S. due to macroeconomic volatility, high inflation and macroeconomic volatility.
CHARACTER GROUP On April 11, the British toymaker abandoned its annual forecast, saying that it expected tariff effects to be felt on China in the second half 2025.
CROCS On May 8, the U.S. shoemaker retracted its outlook for 2025 due to macroeconomic uncertainty.
Krispy Kreme
The doughnut chain
Withdrawal
McDonald's released its 2025 projections on 8 May due to the macroeconomic weakness and uncertainty surrounding the McDonald's deployment schedule
DIAGEO On February 4, the British spirits manufacturer retracted its forecast for medium-term growth in organic sales, citing a long-lasting decline in demand as well as uncertainty about tariffs.
LOGITECH, a Swiss-American manufacturer of computer parts, canceled its forecast for 2026 on April 10 citing uncertainty arising from Trump's policies. It kept its 2025 forecast.
MASCO CORP On April 23, the U.S. house improvement company retracted its annual profit forecast after it missed first-quarter profit and sales estimates. This was due to macroeconomic uncertainty caused by Trump's tariffs.
MATTEL On May 5, the Barbie doll producer retracted its annual financial target, adding that it would raise prices in the U.S. for certain products to offset higher input costs as a result of Trump's tariffs against key trading partners.
SKECHERS
On April 24, the footwear manufacturer retracted its annual results projection, citing Trump's unpredictable trade policies as fueling economic uncertainty.
SPECTRUM BRANDS
The retailer said that on May 9, it did not have enough visibility to continue to provide a 2025 earnings framework.
SPIN MASTER
The Canadian toy manufacturer retracted its 2025 outlook on the 29th of April until the climate stabilizes.
STEVEN MADDEN
The U.S. footwear maker retracted its guidance for 2025 on May 7 citing uncertainty over the impact of tariffs on imported goods into the U.S.
OTHERS
ALPHAWAVE IP GROUP On April 17, the British semiconductor company announced that it could not provide a financial outlook for 2025 and beyond due to global economic uncertainty caused by U.S. Tariffs.
Arm HOLDINGs
Due to the uncertainty of global trade and economy, the UK-based chip manufacturer decided to not issue full-year guidance as of May 8.
AVERY DENNISON On April 23, the U.S. company, which manufactures packaging and labels products like radio frequency tags, retracted its annual forecast, adding that it would now be shifting to quarterly estimates due to macroeconomic uncertainty.
PAGEGROUP PAGEGROUP, a British recruiter, did not provide a financial outlook in its quarterly report on April 9, citing "increasingly uncertain" economic conditions.
(source: Reuters)