Latest News
-
Union Pacific beats quarterly profit estimates on strong coal volumes
Union Pacific beat Wall Street expectations for the third quarter profit on Thursday, thanks to strong volumes of food grains and coal as well as improved pricing. After U.S. president Donald Trump signed executive order aimed at boosting coal production, there is optimism about demand for coal transportation, which benefits railroad operators like Union Pacific. Union Pacific reported that the results included merger costs of 41 million dollars, or $0.07 per diluted share. The company's shares were marginally lower in premarket trading. Union Pacific announced in July that it would acquire Norfolk Southern, a rival freight railroad company. The $85 billion acquisition will create the first coast to coast freight rail operator. Tariffs imposed by Donald Trump have led to a slowdown of the freight market and consumer markets in the United States, which has affected railroads like Union Pacific. Donald Trump, the U.S. president, responded positively to the deal. It is still subjected to regulatory approval by the Surface Transportation Board. The companies plan to submit a merger application to STB by January 31, 2019. North American railroads have struggled to meet the demands of shippers and their increasing pressure on service reliability. The third-quarter revenue from the bulk segment of its business, which includes coal and food grain shipments, increased by 7%, to $1.93billion. Intermodal shipments, or the transport of goods using two or more modes of transportation, brought in $1.5 billion of revenue, down 3%. According to LSEG data, the West Coast Railroad operator reported a quarterly profit of $3.08 per share compared to analysts' expectations of $2.99. The company reported a total operating income of $6.24 Billion, which was higher than the estimated $6.25 Billion.
-
Grab invests May Mobility in the robotaxi startup as it expands into Southeast Asia
May Mobility announced on Thursday that it had secured a substantial equity investment from Singapore's ride-hailing company Grab as part of its plans to expand into Southeast Asia in the coming year. Grab will integrate the startup's autonomous driving technology into its fleet management, vehicle matching and routing systems. This deal represents a major step towards the global deployment of robotaxis, and creates a blueprint on how self-driving cabs will be managed by existing ride-hailing platforms. May Mobility has declined to reveal any further information about Grab's stake in the startup. May Mobility has now partnered with Uber for its third ride-hailing partnership. Its previous tie-ups with Lyft, to launch self driving cars in Atlanta, as well as a upcoming roll-out with Uber, in the United States, are all part of the industry. May Mobility will use GrabMaps, Grab's mapping software, to study Southeast Asian road conditions to ensure a safe deployment. GrabMaps processes data from Southeast Asian city to produce accurate hyperlocal maps which are updated in real-time. May Mobility will receive a 10 billion-yen investment in November 2023 from Japan's NTT, as part of an effort to promote autonomous driving. NTT announced that it will test self-driving taxis and buses with Toyota Motor in 2019. Grab has been selected by a Singaporean District to operate autonomous shuttle services in the area. The company is partnering with Chinese robotaxi company WeRide, and expects deployment to begin early next year. May Mobility uses Toyota Siennas modified for smaller rides, and high-capacity Italian autonomous electric minibuses Tecnobus for routes with higher density.
-
Google invests in a US gas-powered plant that captures carbon dioxide for Midwest data centres
Google announced on Thursday that it had entered into the nation's first corporate agreement for the purchase of electricity from a U.S. plant that uses carbon capture and storage. The deal is to fuel the company's data centers located in the Midwest region. Big Tech's plans for expanding technologies such as generative artificial Intelligence, which require enormous amounts of electricity to operate, have clashed with the reality of a U.S. grid that is running out of supplies. In recent months, companies such as Google have made a number of announcements to fund the construction of new and expanded energy plants in the United States. Google has recently made deals to purchase electricity from advanced nuclear power plants, geothermal energy and hydropower. Google is working with PJM Interconnection - the largest U.S. grid that covers the world's biggest concentration of data centres - to accelerate the connection of power sources. Google's latest agreement to purchase power involves a 400 megawatt power plant being built in Decatur, Illinois by Low Carbon Infrastructure, a privately owned company. The plant is expected to start producing power in early 2030s using carbon capture. This involves trapping 90% of CO2 and injecting it underground. Google has not disclosed the financial terms of this deal. Michael Terrell, Google's head of Advanced Energy, explained that the concept of natural gas-fired electricity, which captures and stores carbon dioxide, had been absent from the equation. Terrell stated, "We have been focusing on developing all these new clean technologies that are available 24/7. This is a very important piece of the puzzle." It's an important technology the world needs. Broadwing will be constructed at a site currently operated by Archer Daniels Midland (agribusiness), which has been injecting underground carbon dioxide from ethanol production for the past 2017. ADM can also purchase electricity from the project, which initially will deliver electricity to grid. Google and Low Carbon Infrastructure have said that they intend to pursue CCS facilities elsewhere in the United States. However, they did not reveal specific locations or dates. The International Energy Agency (IEA) and the Intergovernmental Panel on Climate Change have promoted carbon capture and storage as a way to reduce emissions in heavy industry and power plants that use fossil fuels. Critics have however questioned the cost, scalability, and long-term efficacy of carbon capture and storage. (Reporting and editing by Marguerita Chy)
-
Cessna jet maker Textron tops quarterly profit estimates on higher aircraft deliveries
Textron beat the third-quarter profit estimate on Thursday thanks to higher deliveries in its aviation segment, and continued strength at Bell Helicopter. The Bell MV-75 Valor Tiltrotor Aircraft Program with the U.S. Army continues to be a success for the company. The Bell segment's quarterly backlog increased by $1.3 billion due to the award of the prototype testing phase. Textron’s Bell unit that makes tiltrotors and military helicopters has seen a 10% increase in revenue over the last year. Lisa Atherton, the segment's head, was named to succeed Textron CEO Scott Donnelly earlier in the week. A 10% increase in revenue was also seen by the company's Aviation segment, which produces Cessna, Beechcraft, and Citation turboprops. Profits in this segment were also boosted by the robust demand for parts and services aftermarket. Textron has, however, reported a decline in revenue for its industrial segment as a result of the divestiture. According to LSEG data, the company's adjusted quarterly profit was $1.55 per share. This compares with an average analyst estimate of $1.45. The total revenue of the company rose by 5% in the third quarter to $3.60 Billion, as compared to an estimate of $3.70 Billion. Textron, based in Providence, Rhode Island, reiterated that it expects its adjusted annual profit to range from $6.20 to $6.20.20 per share. Reporting by Aatreyee dasgupta from Bengaluru, editing by Leroy Leo
-
American Airlines increases its profit forecast for 2025 on the strength of premium demand and pricing gains
American Airlines increased its profit forecast for 2025 on Thursday. This was due to a robust demand for premium high-margin services, and an increase in pricing power domestically. In premarket trading, shares of the airline were up by nearly 4%. Airlines were forced to lower fares in order to fill their seats due to a slowdown in domestic travel in the first half of this year. This was largely caused by economic uncertainty resulting from President Donald Trump’s tariffs. Since then, major airlines have reduced their capacity in order to regain pricing power and protect margins. American expects a full-year adjusted per-share profit in the 65-95 cent range, as opposed to its July projection of a range between a 20 cent loss and an 80 cent profit. Premium services with high margins have also remained popular, as wealthy travelers continue to pay more for a comfortable trip. Airlines have shifted their focus to premium services after the pandemic. The U.S. airline reported a loss of $114,000,000, or 17 cents a share, for the quarter ending September. This compares to a loss of $149,000,000, or 23 cents a share, from a year earlier. Southwest, a domestic competitor, reported a surprising profit on Wednesday. This was aided by an increase in bookings. The total operating revenues of the company increased marginally to $13,69 billion.
-
Maguire: Solar and batteries can help Central Europe reduce its dependence on fossil fuels
Central Europe, a region not known for its sunshine, is proving to be a leader in the global energy transition through clever use of local battery energy storage systems and solar parks. As part of their efforts to increase the domestic energy supply, several major Central European economies, including Austria, Hungary and Romania, have increased dramatically since 2022 the share of electricity produced by solar farms. This rapid growth in solar power has enabled steep reductions in the amount of fossil fuels used to generate electricity, with the percentage falling to new lows in the entire region in 2025. The use of grid-scale batteries, which are largely manufactured locally and are a result of policies to support local jobs, is also boosting the surge in solar power. Combining solar power and battery technology, Central Europe is able to defy the expectations that it would be a region reliant on fossil fuels and become a regional leader in energy transition. STAR POWER Austria and Hungary are the two nations in Central Europe that have been most influential in the region's solar boom and reduced reliance on fossil fuels. Both economies are expected to be heavily dependent on Russian exports of energy after the Russian invasion of Ukraine 2022 due to a lack of other options for imports. Austria, which used to rely on Russia for 90% of its gas supply, has been able to reduce its direct Russian imports dramatically since 2022 and has met most of its needs in 2025 by sourcing gas from Slovakia. While Hungary has continued to buy Russian oil and natural gas, even though the European Union has reduced Russian imports, Hungary’s electricity system has reduced its gas dependence from more than 25% before 2022 to less than 20% while increasing solar production. In fact, Austria and Hungary generate more electricity from solar farms now than fossil fuels. This is a dramatic change from only two years ago, when fossil fuels accounted for the majority of electricity. According to Ember, Austria's energy think-tank, data shows that by 2025, solar farms will generate around 17% and fossil fuel plants 10% of the electricity. This compares with a solar share of 6% and a fossil fuel share of roughly 19% in 2022. Around 33% of Hungary's electricity will be supplied by solar farms in 2025, while around 22% will come from fossil fuel plants. This compares with a solar share of 14% and a fossil fuel share of 35% in 2022. WIDER TREND In recent years, Romania, Poland and Slovakia have all increased their solar energy production while simultaneously reducing the use of fossil fuels. Solar energy is growing much faster than fossil fuels and will likely overtake fossil fuels in the next few years. Solar capacity has risen dramatically in the region since 2019. Ember data show that the cumulative solar generation capacity of Austria, Hungary and Romania, as well as Poland, has increased by 460% from 2019 to 2024. This is a jump from 8 gigawatts in 2019. This growth rate compares with a 145% increase in Europe's overall solar generation capacity during the same time period. It indicates that Central Europe has grown roughly three times faster than the European average. Charge up The rapid growth of the production and usage of battery energy systems (BESS) has been a key factor in Central Europe's solar adoption. According to local utility filings, the battery energy storage capacity in Austria, Hungary, and Romania has increased by 472% between 2022 and 2025. After large investments across Europe in upgrading the electricity grid, the BESS capacity is expected to increase over the next decade. Project filings across Central Europe suggest that energy capacity for BESS installations could increase by more than tenfold in 2030, as each major power grid increases both its solar and storage capacities. These increases in clean energy supply are likely to allow Central Europe to maintain its momentum as an important global energy transition engine. These are the opinions of a columnist who writes for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
-
Data shows that Ukraine is beginning to tap its gas reserves in response to a surge in Russian attacks
Data from EU gas storage sites showed that Ukraine began to withdraw gas from underground storage amid an increase in Russian attacks against its energy system. In recent weeks, Russia increased its attacks on Ukraine's power and gas systems. This forced Kyiv into finding ways to increase gas imports. Last week, the head of Ukraine's Central Bank said that recent attacks had caused the country to lose 55% of its gas production. Meanwhile, its energy minister demanded a 30% increase of gas imports. AGSI data (aggregated storage inventory) showed that Ukraine continued to pump gas into its stores despite the large-scale Russian attacks on eastern Ukraine's gas fields early in October. However, it began to withdraw gas on October 22. The largest gas storage facility in Europe, with a total capacity of more than 30 billion cubic meters, was only 28% filled by October 22. In early 2010, the government announced that Naftogaz, the state-owned energy company, was expected to have 13,2 bcm in storage by October 15, 2010. The government has not revealed the amount of storage gas at that time. The President of Ukraine, Volodymyr Zelenskiy, said in a statement this week that Ukraine could import gas worth about $2 billion this winter from Europe and the U.S. Kyiv was expecting to import 4.6 billion cubic meters of gas before the latest Russian attacks. Reporting by Pavel Polityuk Editing Mark Potter
-
Tesla recalls 63,000 Cybertrucks due to lighting defects, fixes software
Tesla announced on Thursday that it was recalling 63 619 Cybertrucks due to software that could make the parking lights in front too bright. This could impair oncoming drivers’ vision. Cybertrucks manufactured between November 13, 2020 and October 11, 2025 will receive a free software update. Elon Musk's automaker, which is led by Elon Musk, said that it discovered the problem in an internal review conducted earlier this month. Photometric tests confirmed that the excessive brightness. Tesla has said that it is not aware of any crashes, injuries or deaths related to this issue. The EV manufacturer also announced on Wednesday that it would be launching a new EV. Recalled 12963 Model 3 or Model Y cars were recalled over a defect in the battery pack component that could lead to a loss of power and an increased crash risk. The U.S. National Highway Traffic Safety Administration announced earlier this month that it would open an investigation into 2,88 million Tesla cars equipped with the Full Self-Driving System after receiving more than 50 reports about traffic safety violations and a number of accidents. The company reported Record third-quarter revenue That beat Wall Street expectations on Wednesday. Its highest quarterly EV sale was driven by U.S. customers rushing to lock in an important tax credit before its expiration last month. Tesla's profit fell short of analysts' expectations due to a combination of tariffs and research costs as well as the decline in regulatory credits, which is expected to continue with recent legislation by the Trump Administration. In premarket trading, shares of the company fell 3.3%. Stocks are up almost 9% this year.
Britain and Vietnam upgrade their ties after Communist leader visits London
According to an official who has direct knowledge, the British government is planning to improve diplomatic relations with Vietnam in the coming week when Prime Minister Keir starmer meets with To Lam of the Communist Party.
The official, who spoke on condition of anonymity said that the relationship would be upgraded to the highest level of strategic partnership in Vietnam, which is comparable with those between Vietnam and China, Russia, United States, and the former colonial power France.
The schedule prepared by Vietnamese authorities indicates that Starmer will meet Lam on Downing Street Wednesday for an exchange of cooperation documents and a joint announcement on the upgrade. The plans for a meeting will be confirmed once the King Charles' visit is confirmed.
The Vietnamese foreign ministry has not responded to a comment request. Starmer's Office declined to comment.
Since Lam became the party chief in 2013, he has played a major role in shaping Vietnam's foreign policy, a task previously handled by the prime minister and president.
The schedule does NOT identify the agreements of cooperation to be signed. The agenda indicated that Lam would visit Oxford University for the signing on Thursday of agreements on education and health.
In order to move beyond the current level, a strategic comprehensive partnership usually involves more frequent meetings, and closer ties in areas of shared interest.
According to a second person who had direct knowledge, commercial agreements in the aviation industry were also expected. Both sources requested anonymity because they were not authorized to speak to media.
Lam is currently in Europe. He has visited Finland, Bulgaria and other countries. Reporting by Phuong ngiyen in Hanoi and Francesco Guarascio, London; Additional reporting by Kate Holton; Editing Clarence Fernandez
(source: Reuters)