Latest News
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Wall Street Journal, December 16,
These are the most popular stories from the Wall Street Journal. These?stories have not been verified and we cannot vouch for their accuracy. Ford Motor announced Monday that it expects to incur charges of about $19.5 billion, mostly related to its electric vehicle business. Donald Trump, the U.S. president, sued 'the BBC for defamation on Monday. His lawsuit claims that the BBC defamed Trump and violated Florida law which prohibits deceptive or unfair trade practices. He wants $5?billion for each count of the lawsuit. PayPal has filed to create a bank that offers business loans and savings account. Frontier Group Holdings has named James Dempsey as interim chief executive officer, effective immediately. He succeeds Barry Biffle, who was with the company for eleven years and had served as CEO since 2016. Stellantis has added more than 1,000 new employees to its Windsor, Ontario assembly plant in just two months. Luminar Technologies filed for bankruptcy following the loss of a contract to supply Volvo Cars.
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FAA establishes new office for air safety after deadly mid-air collision
Federal Aviation Administration announced on Monday that it will open a "new aviation safety" office, as part of its strategic plan. The goal is to improve hiring and training while identifying potential hazards quickly. This comes after criticisms for not addressing near-misses. FAA Administrator Bryan Bedford released "Flight Plan 2026", in response to a mid-air collision that occurred between an American Airlines Regional Jet and an Army Helicopter near Reagan Washington National Airport on January 28th, which killed 67 people. He said that the plan will create an FAA Safety Management System and implement a FAA-wide safety risk management process. Bedford stated that to achieve this goal, the Safety Integration Office will be established, safety risk heat maps developed, increased transparency and accountability improved at all levels within the organization. FAA is also moving into the building where?the U.S. Transportation Department has its headquarters. In a memo to its employees, Bedford stated that "Aviation changes rapidly and the nation expects FAA to lead the way with confidence, competence and clarity." The FAA is planning to create a pilot program for applicants of aircraft certification to be able to take part in digitized certification process. Sean Duffy, Transportation Secretary Sean Duffy, harshly criticised the FAA's failure to act in the face of dozens near-miss incidents prior to the fatal crash that occurred on January 29, days after U.S. president Donald Trump took office. Duffy stated that "we had 84 near-misses within the D.C. area in the previous three years, but no one took any action." Someone was sleeping at the wheel. Someone should have noticed that." Both parties of Congress have asked why the FAA has not acted for so many years in response to close calls with helicopters near Reagan Airport. Jennifer Homendy, chair of the National Transportation Safety Board, said that in August FAA ignored warnings about serious safety concerns. Homendy stated that the FAA had transferred out people instead of accepting responsibility for the fact that everyone in the FAA tower was saying there was an issue. "Fix it. "Do better." Bedford, who was appointed in July, oversees a $12.5-billion rehabilitation of U.S. Air Traffic Control?and Duffy is asking for another $19-billion to finish the job. Bedford, who was a former airline chief executive, had been critical of the FAA’s leadership and culture before he took office. Early May, the FAA barred Army helicopters from flying around the Pentagon following a close call in May that caused two civilian planes abort landings. The FAA implemented new restrictions in April to prevent helicopters from colliding with passenger planes at the busy Harry Reid International Airport, Las Vegas, and has also expanded buffer zones around airports in the Washington, D.C. area. Bedford will testify in front of two congressional committees beginning Tuesday. David Shepardson, Washington correspondent; Chris Reese, Jamie Freed and Chris Reese are the editors.
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JetBlue flight avoids collision with US Air Force jet in mid-air
A JetBlue passenger plane bound for New York avoided a mid-air crash on Friday with a U.S. Air Force Tanker near Venezuela by taking evasive actions, according to a recording of an air traffic control system. JetBlue Flight 1112 was departing from Curacao in the Caribbean and flying approximately 40 miles (64km) off the coast Venezuela when an Airbus A320 reported spotting the Air Force jet. The Air Force plane did not have its Transponder turned on. JetBlue's pilot stated that the Air Force pilot flew within a few mile of the plane at the same height. They passed directly through our flight path... The transponders are not on. "It's outrageous", said the pilot. JetBlue's pilot said that the Air Force jet entered Venezuelan airspace. "We nearly had a mid air collision up here." INCIDENT RECALLS DEADLY JANUARY CRASH Senate Commerce Committee Chair Ted Cruz noted on Monday that an Army helicopter had ?collided with an American Airlines flight on January 29 near Reagan Washington National Airport, killing 67 people, and was not using an advanced tracking technology called an automatic dependent surveillance-broadcast system, also ?known as ADS-B. Why do we tolerate near misses? Cruz spoke about the JetBlue incident. Maria Cantwell said that the JetBlue incident 'raised concern and the public needs a better system. Cantwell stated that "this is not acceptable". You can't have military planes and commercial aircraft flying in the same corridors without letting one another know. "We just can't do that." They spoke at a Monday press conference to push for the removal of a provision in a defense bill, which must be passed annually, that, according to them, would weaken safety by allowing military planes to fly through Washington, DC's airspace without transmitting ADSB information. JetBlue's spokesperson stated on Monday that safety was the company's number one priority. Our crew is trained in proper procedures to handle different flight situations. We appreciate that our crew reported this incident promptly to our leadership team. We have reported the incident to federal authorities, and we will be a part of any investigation." U.S. Military Active in Region The incident occurred as the United States mounted a massive military buildup in southern Caribbean, as President Donald Trump campaigns against Venezuelan leader Nicolas Maduro. This has pushed relations to the most volatile point they have been in years. U.S. 'Southern Command' said in a Monday statement that it was aware and was reviewing the matter. The military said that its "aircrews" are highly-trained professionals who follow established procedures and adhere to applicable airspace requirements. Safety is our top priority. We are using the "appropriate channels" to evaluate the facts of the situation. The Federal Aviation Administration issued a warning to major airlines last month about a "potentially dangerous situation" while flying over Venezuela, and encouraged them to be cautious. As tensions worsened, major airlines around the globe have suspended flights. Trump has also threatened to start hitting Venezuelan land targets. The FAA didn't immediately comment on Monday about the JetBlue incident. (Reporting and editing by Lisa Shumaker, Jamie Freed, and David Shepardson from Washington)
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US FTC and 21 states file amended complaints against Uber regarding subscription practices
Uber is accused of deceptive billing practices and cancellations by the U.S. Federal Trade Commission. The agency, 21 states as well as the District of Columbia have filed an amended complaint. The lawsuit filed in U.S. District Court, Northern District of California, alleges that Uber charged users for subscriptions they didn't consent to, did not deliver on promised benefits like zero-dollar delivery charges and monthly savings and made it difficult for them to cancel. Following the news, shares of Uber dropped more than 3%. Uber was first sued by the FTC in April for similar allegations. The amended complaint aims to seek civil penalties in connection with alleged violations of state consumer protection laws and the Restore Online Shoppers' Confidence Act. Uber One is marketed as a subscription that can be purchased monthly or annually. It promises benefits such as $0 delivery charges and up to $25 monthly savings. The FTC stated that many consumers paid delivery fees in spite of the promise, and did not receive the advertised savings. Uber is also accused of enrolling users into subscriptions without their consent, including those who had signed up for a free trial, and charging them before the trial ended. Uber has denied these allegations, saying that it never charges or signs up customers without their consent. According to the filing, canceling was described as being "extremely difficult" with users having to navigate through up to 23 screens. Uber stated in an emailed statement that most cancellations can be made in less than 20 seconds and in the Uber app at any time. "Prior until December 2024, customers had to call Support within 48 hours to cancel their next billing cycle, as was explained when signing up." California, New York and Texas are among the states that have joined the FTC. Reporting by Kritika Lama in Bangalore, Costas Pittas in Los Angeles, and Ryan Patrick Jones at Toronto; editing by Chris Reese & Shinjini Ganuli
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Trinidad and Tobago allows US military aircraft to transit through airports
Trinidad and Tobago approved on Monday for United States military aircraft to transit their airports in the coming weeks. This is due to the rising tensions between Venezuela and the U.S. In a press release, the Caribbean country's Foreign Ministry said it was "committed" to working with the U.S. on regional security. It added that the aircraft movements were "logistical in nature". Pentagon: In November, an American military official met with the Prime Minister of Trinidad and Tobago, Kamla Persad Bisssar, to "reaffirm" the partnership and "discuss priorities for regional stability and security". In recent months, the U.S. increased operations in the Caribbean and Pacific. This included more than 20 strikes on suspected drug-trafficking ships this year. Nearly 90 people were killed. Donald Trump, the U.S. president, has raised the?possibility of military??intervention? in Venezuela. He cited allegations that Venezuela ships?narcotics? to the United States. Caracas, however, denies this.
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JetBlue flight avoids collision with US Air Force jet in mid-air
JetBlue avoids collision with Air Force jet that was not tracked Incident after US military build-up near Venezuela FAA warns airlines about risks in Venezuelan airspace By David Shepardson WASHINGTON, DECEMBER 15: A JetBlue passenger plane bound for New York avoided a midair collision on Friday with a U.S. A pilot reported in an air traffic recording that a?Air Force aircraft was near Venezuela. JetBlue Flight 1112 was departing Curacao in the Caribbean and flying approximately 40 miles (64km) off the coast Venezuela when an Airbus A320 reported that it had encountered the Air Force plane, which didn't have its transponder turned on, according to a recording taken by liveatc.net. JetBlue's pilot stated that the Air Force pilot flew within a few miles and was at the same height as the plane. They passed directly in our flight path. The transponder on their aircraft was not turned on. "It's outrageous", said the pilot. JetBlue's pilot reported that the Air Force jet entered Venezuelan airspace. "We nearly had a mid air collision up here." JetBlue's spokesperson stated?on Sunday that safety is the company's number one priority. Our crew is trained in proper procedures to handle various flight situations. We appreciate that our crew reported this incident promptly to our leadership. We have reported the incident to federal authorities, and we will cooperate in any investigation. The incident occurred as the United States mounted a 'large-scale military buildup' in the southern Caribbean, as President Donald Trump campaigns against Venezuelan leader Nicolas Maduro. This pushed relations to their most explosive point in years. U.S. Southern Command stated in a Monday statement that it was aware of the incident, and is'reviewing' the matter. The military said that its "aircrews" are highly-trained professionals who follow established procedures and adhere to applicable airspace requirements. Safety is our top priority and we're working through the appropriate channels to gather the facts about the situation. Last month, the Federal Aviation Administration issued a warning to major airlines that they were flying into a "potentially dangerous situation" over Venezuela, and asked them to be cautious. As tensions worsened, major airlines around the globe have suspended flights. Trump has also threatened to start hitting Venezuelan land targets. The FAA didn't immediately comment on Monday about the JetBlue incident. (Reporting and editing by Lisa Shumaker in Washington, with David Shepardson reporting from Washington)
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Kenya signs power line deal worth $311 million with Africa Fund, Indian company
Kenya signed a $311 million agreement on Monday with PowerGrid Corporation?of India and a pan-African Infrastructure Fund for the construction of high-voltage transmission lines. In order to fund infrastructure projects, the East African nation has turned to public-private partnership and securitisation. This is due to high public debts and a tight fiscal environment. According to the Ministry, under the power line deal, Africa50, an infrastructure fund based in Morocco that is owned primarily by African countries, will work with PowerGrid on the design, financing, construction and operation of?the transmissions lines and sub-stations. Africa50 announced that the project company would "undertake the complete lifecycle?of the transmission network, from construction through to operation -- over a 30-year period of concession". It said that the two lines "would unlock cleaner, more affordable and reliable power for millions Kenyans." It was unclear how much money would be invested and what the increase in transmission capacity would look like. Kenya Electricity Transmission Company Limited, a state-owned firm, is the contracting party. According to the Finance Ministry, the project will "enhance the system stability, reduce load-shedding and technical losses, and facilitate renewable energy integration." In the past, high demand-driven 'overloads' were blamed for tripling up the grid and causing nationwide blackouts. The government is trying to 'address this by expanding infrastructure in order to accommodate increased demand without straining network. The debt burden of 'Kenya and the resistance to tax increases have closed off traditional financing sources for such infrastructure. President William Ruto responded by negotiating with the private sector. Critics claim that the strategy exposes state liabilities to increased liability through opaque "contracts". The government has dismissed the criticism. Last year, Ruto's attempt to build new transmission lines with India’s Adani Group fell through after the founder of Adani was indicted by the United States. Duncan Miriri, Aiden Lewis and Duncan Miriri contributed to this report.
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USDOT declares energy emergency in Northeast US because of propane shortage
U.S. Department of Transportation declared a regional disaster for Delaware, New Jersey?, New York? and Pennsylvania because of cold weather, and an outage of power at a Pennsylvania gas refinery? that disrupted propane flow. Declaratory action taken on Friday allows propane, natural gas and heating oil carriers to circumvent the maximum driving time rule while still providing direct assistance in an emergency. Propane is a vital heating fuel, particularly during the winter months. It powers furnaces, water heaters, and stoves for homes and businesses. Cold snaps and winter storms may cause a shortage of propane, so timely deliveries are essential to maintaining?energy security. The National Propane Gas Association states that the emergency is a result of an incident in November at Energy Transfer's Marcus Hook Terminal. The operator declared force majeure and implemented allocation to cover 70% of the contracted loads. Energy Transfer didn't immediately respond to an inquiry for comment. According to the Federal Motor Carrier Safety Administration of the USDOT, the emergency declaration would remain in place 'until the emergency ends or until 11:59 pm ET on December 25, 2015. The department also stated that it could modify the declaration if necessary, including the modification of transportations and goods, or extend or terminate the declaration based on the conditions. FMCSA stated that the exemption from the "declaration" only applied to shipments supporting humanitarian relief, and that it did not waive any other safety requirements such as drug and alcohol tests, commercial driver licenses, and hazardous materials regulations.
James Dempsey is named interim Frontier Group CEO after Biffle leaves.
Frontier Group Holdings - parent company of Frontier Airlines - announced on Monday the departure of its 'longtime CEO, Barry Biffle, and named James Dempsey as interim CEO, with immediate effect.
Frontier announced that Biffle will continue to serve as an advisor with the company until December 31.
Dempsey was Frontier's president from October 2023. He oversaw the company's commercial operations and customer care, as well as its research, design and planning functions.
He joined Frontier as CFO in 2014, prior to which he held senior management roles at Ryanair Holdings and various management roles with PricewaterhouseCoopers.
Bill Franke, the Board Chair said: "We believe (Dempsey is) uniquely qualified to lead our airline into future."
Frontier said it also expects its fourth-quarter results will be in line with the forecasts that were previously made.
The company had forecast a fourth-quarter profit adjusted between 4 cents to 20 cents per share. The company also expects the fourth-quarter growth in capacity to be flat when compared to last year. (Reporting and editing by Shailesh Kuber in Bengaluru. Abhinav Pmar is based in Bengaluru.
(source: Reuters)