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Officials say that Iraq and KRG have agreed to restart the oil pipeline to Turkey
Two oil officials said that the federal government of Iraq and the Kurdish region reached an agreement with oil companies on Monday to resume crude oil exports through Turkey. The breakthrough will enable the resume of 230,000 barrels of oil per day (bpd), which had been suspended from March 2023. An oil official familiar with the agreement said that oil flow should resume within 48 hours. Tuesday, the Iraqi Cabinet must approve this deal. According to Iraqi officials who are familiar with the agreement, the preliminary plan requires the Kurdistan Regional Government to commit to deliver at least 230,000 barrels per day (bpd) to the Iraqi state oil marketing company SOMO while keeping an extra 50,000 for local use. Unknown traders will sell from the Turkish port Ceyhan at official SOMO prices. 16 dollars per barrel will be transferred into an escrow and then distributed to the producers proportionally. Officials said that the remainder of revenue would go to SOMO. The draft plan doesn't specify when or how producers will be paid the arrears of about $1 billion, which accumulated from September 2022 to March 2023. A delegation from the Iraqi oil ministry and the semi-autonomous Kurdish Regional Government reached a deal with oil companies as OPEC+ nations continue to add barrels to market in order to gain market shares. The pipeline was closed in March 2023, after the International Chamber of Commerce ordered Turkey to pay Iraq damages of $1.5 billion for KRG exports that were not authorised. The Turkish government has appealed this ruling, but stated that it is prepared to restart the pipeline. This has not happened because of the disputes between the Iraqi Federal Government, KRG, and foreign oil companies over contract terms, arrears, and other points. Washington has also put pressure on the parties in order to achieve a deal. Last week, it was reported that Iraq, OPEC’s second largest producer, had approved a preliminary plan to restart exports.
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After a job deal, the largest US rail union supports Union Pacific and Norfolk Southern merger
SMART, the largest railroad union in the United States, announced on Monday that it would support Union Pacific's $85 billion proposed merger with Norfolk Southern, after securing guarantees of job protection for its members. White House support has been given to the largest ever buyout in the sector, which aims to create the first transcontinental railway in the U.S. Union Pacific and Norfolk Southern are preparing to submit a formal merger request with the Surface Transportation Board. SMART, International Association of Sheet Metal, Air, Rail and Transportation Workers, has previously stated that it plans to oppose a transcontinental merger, citing concerns over how it would affect U.S. infrastructure and workers. The union stated that "SMART-TD employees working in the train and yardmaster services will have their jobs protected for the duration of their career following the transaction." Union Pacific has promised that the employees involved in this merger will not be subjected to any forced furloughs. Norfolk Southern and Union Pacific have previously stated that they plan to maintain union jobs, and strive to be the nation's safest railroad. SMART is a network of 230,000 professionals from various sectors, including construction, transportation, and manufacturing.
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Cyber experts: Airport chaos shows rise in ransomware attacks with high-profile victims
Cybercriminals take greater risks when they target high-profile targets in order to reap larger rewards and increase their online reputational power, according to cybersecurity experts, following a weekend hack that crippled check-in systems at airports across Europe, leaving thousands of passengers stranded. ENISA, the European Union's cybersecurity agency, confirmed Monday that the attack on Collins Aerospace (owned by RTX) was a ransomware. However, it did not specify where the attack came from. The outage has affected dozens flights since Friday. Rafe Pilling is the Director of Threat Intelligence for Sophos. He added that "the subset of deliberate attacks engineered to maximize disruption, often by Western based groups, is the outlier. But they are becoming more visibly and more ambitious." The hacker's identity was unclear. On dark-web "leak sites," ransomware gangs regularly publicise their attacks and leak stolen information. However, websites that monitor these portals have not detected any group claiming Collins Aerospace or RTX as a targeted company as of Monday. Cybercriminals use ransomware, a malicious program that encrypts data of a company and demands payment to unlock it. Most of them operate in shadows and avoid targets that might attract unwanted attention from law-enforcement agencies. Cyber experts say that other groups are more daring in their choice of targets. Scattered Spider, a group dubbed by many as hackers, was reported to have been behind the attack on British retailer Marks & Spencer in April. This attack crippled one of Britain's most recognizable names, preventing it from accepting online orders for several weeks. Two teenagers were charged by the National Crime Agency of Britain last Thursday for a cyberattack in 2024 on London's Transport for London. The agency said that this attack caused "significant disruptions and millions of losses". Investigators at the NCA believed that Scattered Spider members were responsible for the TfL attack. Scattered Spider has been linked to approximately 120 network intrusions and received around $115,000,000 in ransom payments, according to the FBI. The number of cyberattacks is increasing, and the impact of these attacks will continue to grow until both software developers and IT staff become better at evaluating software that their companies choose to buy or use remotely. This problem could even accelerate if neither party improves their skills. Thomas stated that "we have been fortunate so far as cyber criminals' motivation has been disruption and financial gain." If they decide to cause serious injuries or deaths, the same strategy could be used against critical systems such as healthcare or major infrastructure. Ransomware that is more dangerous and high-profile can be attributed to cybercriminals' desire for reputation in criminal circles. The larger the target, they have more influence with other hackers. Pilling, a Sophos analyst, said that "a small but determined group of mostly Western cybercriminals is honing its skills and becoming more confident by their previous success and other's success." Their motivation is not only financial, and committing a high impact breach will also give them social standing and credibility in their peer network.
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Lutnick: US and Kazakhstan sign $4 billion locomotive agreement
Howard Lutnick, the Commerce Secretary announced Monday that the United States and Kazakhstan had reached an agreement on locomotives worth $4 billion. Lutnick, in a blog post on X, said that the deal was reached after a phone call between President Donald Trump of the United States and Kazakh president Kassym Jomart Tokayev. Lutnick stated that "these locomotives will provide connectivity in Europe and Asia, connecting The Middle Corridor with American technology as its core." He didn't mention the U.S. firms involved or their role in manufacturing the locomotives. Trump imposed a 25% tariff on the central Asian nation, which borders Russia, China and Mongolia. Tokayev said in a July letter that he would be open to a constructive dialogue with Trump on trade issues. (Reporting from Bhargav Acharya in Toronto, editing by Rami Adyub.)
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LATAM purchases 24 Embraer E195 E2 jets to increase Brazil's presence
Embraer, a Brazilian planemaker, secured a historic deal on its own market, as LATAM Airlines announced that it had placed a firm order of 24 E195E2 aircraft with options to purchase another 50. This resulted in a rise in the shares. This deal represents a new order of Embraer's second generation jets that has been long awaited. Brazil Whose government was it? Lobbying The sale. LATAM, a Chilean company, will first deploy the new aircraft for its Brazilian operations. The companies announced in a statement that deliveries of the 24 firm order aircraft, valued at $2.1 billion list price, would begin in 2026. LATAM and Azul will fly Embraer E195-E2s in Latin America's biggest economy. Azul placed its last firm order in 2018. In an interview, Embraer CEO Francisco Gomes Neto revealed the first time in an interview. Last year, the company was in discussions with LATAM about a possible order. Later, the carrier confirmed that it was Consideration It has added new smaller jets to its fleet. The company cited Embraer's E2 aircraft and Airbus' A220 as direct competitors in the regional segment, with 150 seats. Embraer shares jumped almost 4% during the morning session in Sao Paulo. JPMorgan analysts stated that the announcement reinforced their bullish view on the planemaker as its commercial backlog is growing at a rapid pace. Gomes Neto, Gomes's colleague at the LATAM Group, said: "We are very proud of the LATAM group for making the right choice in advancing the connectivity of the region." LATAM's Brazilian division, which is the No.1 airline in Brazil by market share, has been looking for ways to expand its fleet due to the long delivery times of narrow-body planes from larger manufacturers Airbus and Boeing. The Brazilian unit of LATAM, the country's No. The E195-E2s join a fleet of 362 aircraft that includes Airbus narrow bodies and Boeing wide-bodies. Roberto Alvo, CEO of LATAM, said that the airline made its decision based on "excellent economics" and the "flexibility" of the E195E2, which allows for the opening up of new destinations. Brazil's Government, which was Local carriers are urged to increase their efforts The deal to purchase Embraer aircraft was hailed as a way to strengthen the manufacturer and boost regional aviation. It's an historic purchase. "A milestone for regional aviation," said Ports and Airports minister Silvio Costa Filho. LATAM follows an order landmark deal Embraer made history earlier this month when Avelo Airlines, a budget airline in the United States, placed a firm order of 50 E195E2s. This was the first U.S. contract for the aircraft. (Reporting and editing by Brad Haynes, Mark Porter, and Fernando Cardoso)
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Russia calls on global aviation meeting to relax sanctions due to safety concerns
According to a working paper and a reliable source, Russia wants aviation leaders meeting in Montreal this week to relax sanctions on spare parts. It also wants to lift restrictions on overflights. Since the Russian invasion of Ukraine, in February 2022 Western sanctions have restricted access to aircraft and spare parts made abroad, forcing Russian airlines to import parts for over 700 Airbus and Boeing jets, mostly via indirect routes. Sources in the Russian aviation industry say that Russian authorities are currently trying to negotiate relief of sanctions, especially on spare parts which they claim are crucial for flight safety. Russia will be making its case to regulators, other delegates and the International Civil Aviation Organization's triennial meeting which begins on Tuesday and continues through October 3. The U.N. ICAO is responsible for setting global standards of safety for civil aviation. Its council has condemned Moscow's violation of Ukraine's sovereignty over its airspace and dual registrations. The United States lifted last week sanctions against Belarusian Belavia, which had been imposed after Minsk supported Moscow's invasion of Ukraine. Moscow argued in a working paper submitted to the assembly that the sanctions are against global law. Russia also tries to get elected to the 36-state governing body of ICAO after it failed to win enough votes following the invasion in Ukraine. Already, its efforts have generated opposition. Global Affairs Canada spokesperson said on Saturday that Canada is aware of Russia’s candidacy for the International Civil Aviation Organization Council (ICAO). "Canada does not support Russia’s election to this organization," said a Global Affairs Canada spokesperson. Russia is the largest country in the world and relies heavily on commercial planes to transport passengers and freight across its 11 time zones. However, recent incidents indicate that Russia's fleet has been degrading. A Soviet Antonov An-24 built in 1976 crashed in Russia's Far East in late July. All 48 people aboard were killed. A few days later, Russian flag-carrier Aeroflot grounded several flights after a devastating cyberattack. One Russian newspaper said that "unlawful coercive actions violate the human rights to freedom of movement, regardless of nationality or citizenship." The ICAO must take all necessary measures to stop states from applying discriminatory, coercive and politically biased measures in international civil aviation. Aircraft Aging The documents criticise also the closing of 37 state's airspace for flight operations by Russian airlines, and bans on aircraft insurance and maintenance. The Russian aviation watchdog Rosaviatsiya has not responded to a comment request, and the Transport Ministry has declined to make one. Ukrainian authorities did not respond to a request for comment. The Russian aviation source said that the fleet of Boeing and Airbus planes in Russia is old and not all parts could be imported via so-called grey schemes. This means that a large number of Western aircraft may be grounded.
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Gaza protests in Italy block ports and clashes break out in Milan
On Monday, dockworkers on strike in Italy blocked the access to ports and violence broke out at a pro Palestinian protest in Milan's centre as unions held a day of demonstration against Israel’s Gaza offensive. Italian dockworkers protesting say they want to stop Italy being used as an staging post for arms and other supplies going to Israel, which is at war in Gaza with Hamas. A witness said that police in riot gear used tear gas to fight protesters near the central station of Milan. Meanwhile, Italian media reported that the demonstrators tried to stop traffic on the autobahn close to Bologna. There were clashes between protesters and police in the southern city Naples as they forced their way through the main station. Some briefly got onto the tracks and caused delays in services. In other Italian cities, tens of thousands demonstrated. Schools were closed, and public transport was disrupted by strikes called by unions. PALESTINIAN FLAG RAVELLED AT PORT GATHERINGS In Genoa in the northwest of Italy, protesters waved the Palestinian Flag during early morning gatherings near the port. Workers protesting in Livorno on the Tuscan coast blocked an entrance to the Port. Similar protests were also held in Trieste in the northeast. "The Palestinians continue to teach us another lesson in dignity, and in resistance," said Ricky. He is a protester from Genoa who belongs to a group of workers called the Autonomous Port Workers' Collective. He added, "We try to learn from their mistakes and do our part." Right-wing Italian Prime Minister Giorgia Melons government is a longtime supporter of Israel in Europe and has refused to follow other Western nations' lead by recognizing a Palestinian State. The strike affected regional train services in Rome, but the underground railway was unaffected. The majority of metro lines in Milan, Italy’s financial capital, also operated. Matteo Salvini, the Transport Minister, played down the impact on the rail system of the protests and praised those who went to work. "Today's strikes only cause a small number of trains to be cancelled." "The political mobilisation by far-left unionists can't harm millions of workers," said he. Reporting by Roberto Mignucci, Angelo Amante; Writing by Keith Weir. Editing by Barbara Lewis and Alvise Armllini.
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Motor racing: A van and a road trip plan: Sainz & Leclerc are now friends
Charles Leclerc, a former Ferrari teammate, and Carlos Sainz hired a van to drive home to Monaco from Italy after their flight to the Azerbaijan Grand Prix was delayed due to bad weather. Leclerc finished ninth in the race on Sunday in Baku, while Sainz came third to give Williams its first podium in Formula One since 2017. A viral video of this impromptu journey was posted by Leclerc in an Instagram post. Leclerc said in the darkness, "After a very tough weekend in Baku, I thought it couldn’t get worse but ...," Leclerc recited before the camera panned to show his car entering a narrow tunnel. Sainz, the driver, told the story, "We had to divert due to a storm and we couldn't land at Nice." We landed in Italy, rented a car and are now on our way to Monaco. "A two-hour journey, we'll make it in an hour and a quarter," joked the Spaniard who, at the end last year, lost his Ferrari seat to seven-times champion Lewis Hamilton. Hamilton is yet to win a race with his new team after 17 races. (Reporting Alan Baldwin, Editing Ed Osmond).
Spirit Airlines prepares to lay off one-third its flight attendants
Spirit Airlines announced on Monday that it will be preparing to lay off one-third its flight attendants following its second bankruptcy filing in a single year. The carrier is struggling with mounting losses and dwindling funds.
From December 1, the low-budget airline will lay off approximately 1,800 of its 5,200 flight attendants.
Spirit filed for bankruptcy last month, after its previous reorganization had failed to improve the company's financial standing. In a memo to its employees sent on Wednesday, the company warned of job cuts and said it planned to reduce flight capacity by 25% over the past year.
The airline sent an email on Monday to its employees, stating that it would be adjusting the flight attendants' group based on volume.
In a separate memorandum, seen by also, the Association of Flight Attendants said: "The significant reduction of aircrafts and flight hours require a higher reduction in force, and the company is clearly that a furlough will be necessary."
The airline has relied on voluntary furloughs to date, rather than forcing them.
The company will continue to offer voluntary furloughs even as it continues with further staffing cuts. According to the union voluntary furloughs will be offered from November 1 for a period of six months to a year.
In its memo, the union said that it was coordinating with other airlines to set up preferential interviews for their members.
Spirit's financial problems, coupled with the competition among U.S. airlines for premium travelers has raised fears that ultra-low-fare fares are coming to an end for budget-conscious travellers.
United Airlines announced last week that it would not pursue Spirit Airlines' assets, if those assets became available in the restructuring of the airline. Reporting by Doyinsola Oladipo in New York; Aishwarya JAIN and Aatreyee DASGUPTA in Bengaluru, Editing by Shailesh KUBER amd Maju SAMu
(source: Reuters)