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F1 announces the new terms of motor racing: Boost, Overtake and Charge
In 2026, Formula One fans can expect to hear a lot more about Boost and Overtake. The Liberty Media owned sport announced a re-evaluation of terminology Wednesday, to coincide with the beginning of a brand new era of engines and the largest ever revision of technical regulations. The cars will have thinner and lighter tyres, a split of 50/50 between internal combustion, sustainable fuel and electric power. In a recent statement, Formula One stated that "in this new generation of drivers the power is more in their hands than before." "Critical decisions over energy deployment, regeneration and conservancy puts them in a position of even greater responsibility. Understanding how they will use and deploy these 'new tactical elements' will be crucial in order to ensure the best appreciation of their?skill and race-craft." Formula?One has said that it wants to avoid 'gimmicks' and jargon and finalised a new list of terms after consulting with the governing FIA and teams, engineers, and fans old and new. OVERTAKE MODE is a replacement for DRS. It's a strategy that gives drivers extra power to overtake cars within a few seconds of the car in front. The mode can be activated in one shot or over several laps. BOOST MODE allows the driver to deploy energy in an attack or defense depending on where you are on the track. The engine and battery will deliver maximum power anywhere on the track at the touch of a button. ACTIVE AERO is a term that refers to movable front- and rear-wing elements, with Corner and Straight modes. Formula One claims it will allow "strategic adaptation and maximizes the full use of the car's?power through greater on track grip." RECHARGE is any chance for drivers to recharge the battery of their vehicle with "recovered power from braking or throttle lifts at the end straights, and even corners when only part-power is applied." (Reporting and editing by Christian Radnedge, Alan Baldwin)
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Sources say Venezuela's state oil company resumed cargo deliveries following cyberattack
According to sources and the state-run PDVSA, Venezuelan oil company resumed oil cargo deliveries on Wednesday at its terminals after a cyberattack affected their centralized administrative system. Sources close to the operations of PDVSA said that the company, which was dealing with the U.S. blockade on Tuesday against all sanctioned oil tankers attempting to enter or leave Venezuelan waters and approaching, had been able to isolate refineries, oilfields, ports, and other facilities to resume working. According to a source at the state-run oil company, the ransomware was detected days earlier and the antivirus software used to try and fix it affected the entire administrative system. A ransomware attack encrypts the victim's files and locks their computer, causing major disruptions. Sources said that workers at terminals now manually record deliveries in order to prevent a longer suspension. In a Wednesday statement, PDVSA stated that its tanker fleet is navigating normally and oil imports and exports are back to normal. According to one source and shipping data, PDVSA's partner in the joint venture Chevron loaded two crude cargoes for the U.S. on Wednesday. It's unclear how U.S. president Donald Trump will enforce his blockade of sanctioned vessels and if he will use the U.S. Coast Guard for interdiction. Last week, the U.S. seized a Supertanker near Venezuela. The Trump administration has sent thousands of troops as well as nearly a dozen ships to the area. Venezuela's response to Trump's "grotesque threats" was made in a later statement on Tuesday evening, claiming that he violated international law, the free trade and the right to free navigation. According to a statement shared by Venezuelan Vice President Delcy Rodriguez who is also Venezuelan oil minister, the ambassador of Venezuela to the United Nations would?denounce Trump’s threat there. Exports are drying up since the U.S. took over the large crude carrier Skipper, last week. Only tankers chartered by Chevron, and operating under U.S. authorization have sailed without delay. A supertanker that was not sanctioned set sail in "dark mode" or with its signal off this week, after waiting days for it to depart, carrying 1.8 millions barrels of heavy oil, according to an internal PDVSA document and monitoring data. The PDVSA is still stuck with more than 9 million barrels of Venezuelan crude oil in Venezuelan waters. Customers and shippers are demanding price discounts and contract modifications from the company. According to the data available on the TankerTrackers.com website, at least half a dozen oil tankers have turned back since last week in order to avoid approaching the Caribbean Sea which is heavily patrolled and manned by U.S. vessels. In addition, the rising tensions between Venezuela and the United States have affected Venezuela's imports heavy naphtha needed to dilute it extra-heavy crude oil production. The data shows that most tankers delivering Russian naphtha to Venezuela arrived and discharging since last month. However, some have returned. The data showed that most tankers carrying Russian naphtha for Venezuela have arrived and discharged since last month, but others have turned back.
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Hapag-Lloyd will power container ships using e-fuels starting in 2027
Hapag-Lloyd (Germany) and North Sea Container Lines (North Sea) won an auction to use low-emission fuels made from hydrogen in container ships from 2027, for at least 3 years. Hapag-Lloyd plans to power five large container vessels with 70,000 tons of e-methanol, while NCL will fuel a small vessel with 25,000 tons e-ammonia. After the tender organized by the Zero Emissions Maritime Buyers Alliance (ZEMBA). The volume of fuels agreed is significant as the shipping industry uses them very little at the moment. ZEMBA is a voluntary initiative that includes Amazon, IKEA and Nike, among others. It matches companies willing to pay more for deliveries using low emission fuels with operators who can power their vessels by these fuels. Under pressure from the United States, the International Maritime Organization decided to delay a global price for carbon by a year in October. Shipping faces greater challenges than other sectors in reducing emissions. Existing vessels must be retrofitted or new ships built to run on e-fuels. Ingrid Irigoyen, Zemba's President, said that "we have found that there is e fuel available at economically feasible cost points and there would be more supply if demand was stronger." Hapag-Lloyd said that Yara Clean Ammonia would provide e-ammonia while China's Goldwind will likely provide e-methanol under the tender. Enes Tunagur, London (Reporting and Editing by David Goodman).
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SpiceJet, a new subsidiary of Natilus, has ordered 100 jets from the company.
Natilus, an aviation startup in the United States, announced on Wednesday that India's SpiceJet had ordered 100 of their blended-wing-body aircraft. The company is marking its entry into India's fast-growing market with the launch of a new local subsidiary. According to the industry group IATA the Indian aviation market is the fifth largest in the world. It is a lucrative spot for global airlines and planemakers, driven by a stronger demand for travel into and out of the country following the pandemic. Natilus also considers India as a possible location for a manufacturing plant, and plans to build approximately 300 HORIZON Jets at the site when it is completed. Aleksey Mathyushev, CEO of Natilus, said: "I believe there is a great opportunity for us to expand into what could actually be a second manufacturing plant over there." Natilus announced earlier this year that it was in the process of selecting the location of its first U.S. Manufacturing Facility. SpiceJet, a low-cost airline in India, said that it would partner with Natilus for certification and to purchase the jets after regulatory hurdles have been cleared. Natilus India will have its headquarters in Mumbai. Natilus, founded in San Diego in 2016, is one of the companies that are looking to commercialize blended-wing jet designs. This concept has been explored for years in experimental and defense aircraft but not in mainstream airline service. Boeing and Airbus also have experimented over the years with blended-wing body concepts. Natilus is pursuing certification under?Part 25 for its HORIZON Jet through the Federal Aviation Administration. It expects to see it on the market at the beginning of the next decade. The?HORIZON will be a narrowbody jet that is similar to the Boeing 737 and Airbus A320, but with more interior space and lower operating costs. (Reporting and editing by Mrigank Dahniwala in Bengaluru)
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Delhi limits vehicles and office attendance to curb pollution
The authorities in India's capital Delhi took strict measures to combat pollution on Wednesday. These included a ban on cars that did not meet the 'latest emission control standards and regulations on attendance at private and government offices. In the Delhi region with 30 million residents, the air quality index has often been above 450. The visibility was also affected by shallow fog that engulfed parts of Delhi, which made it difficult to fly and take trains. The Commission for Air Quality Management invoked?stage 4, the highest level of the graded action plan for Delhi, and the surrounding areas? on Saturday. The curbs prohibit the entry of diesel trucks older than 15 years into the city. They also suspend construction including public projects and mandate hybrid education. Kapil Mishra announced Wednesday that, except for a few exceptions, all offices, both private and public, in 'the city will operate with only 50% of their staff present. Mishra, at a Delhi press conference, said that all construction workers, including many who earn daily wages, will receive compensation of 10000 rupees ($110). Bhupender Yadav, India's environment minister, has instructed authorities to only allow construction and demolition in Delhi and its suburbs if there is a proper waste management infrastructure. The?minister ordered the removal of illegal encroachments, and the creation of corridors to allow for easy movement during rush hour traffic. The government imposed strict anti-pollution regulations for vehicles in the city on Tuesday. Vehicles that do not meet the latest emission standards are banned. "Our government is committed to clean air in Delhi." "We will take strict measures to ensure that in the coming days," Delhi Environment Minister Manjinder Singh Sirsa late on Tuesday. Delhi's winter pollution is a problem every year. Cold, dense air traps the emissions of vehicles, construction sites, and burning crops in neighbouring states. This causes the levels to rise to the highest in the entire world, exposing residents to respiratory problems. The area is covered with a thick layer smog, and the AQI reaches levels of the high 450s. A reading below 50 is considered good. Reporting by Tanvi mehta and Editing by Raju goplakrishnan. $1 = 90.3180 Indian Rupees.
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Maguire: Japan's fossil-fuel power output falls again as nuclear production rises.
Japan, one of the largest importers of oil, coal and gas, has reduced fossil fuel electricity production to its lowest level in more than a decade by 2025. This is largely due to a continuing recovery in nuclear energy output. The?fleet? of Japan's nuclear reactors generated the most electricity in 2012 since the?a?tsunami caused a meltdown of the Fukushima nuclear power plant, which led to a shutdown of many of the country's reactors. Japan's nuclear recovery has provided utilities with a record amount of clean energy since 2010. It also allowed power companies to reduce the use of gas-fired plants to its lowest level in at least six year. In 2026, Japan's energy shift away from fossil fuels is likely to accelerate as it restarts Kashiwazaki - Kariwa's world's biggest nuclear reactor and adds additional renewable energy production capacity. The steady decline of fossil fuel production in such an important economy will be a source of concern for natural gas exporters. They will have to find other buyers for any extra gas they intend to sell in 2026 or beyond. CLEAN?MOMENTUM Japan's electricity production system has increased output by a large amount from clean energy sources in 2025. Ember data shows that from January to October, the generation of bioenergy plants, solar and wind farms, and nuclear reactors?all increased at least 10% in comparison to the same month in 2024. Bioenergy and solar energy sources registered their highest-ever share of total utility electric supplies at 7% and 14%, respectively. Nuclear reactors produced over 10% of the total utility electrical supply for the first since 2011. The total amount of clean electricity produced during the first ten months of 2025 reached 326.3 terawatt-hours (TWh), an increase by 9% from the same period in 2024, and the highest output for a full year since 2010. NUCLEAR DRIVE The growth in clean energy supply seen over the past few years has been driven by Japan's steady return of its nuclear reactor fleet. Japan's authorities have gradually restarted the reactors after the shutdown of all 54 reactors. The generation has risen from less than 5 TWh to close to 78TWh by 2025. Japan has restarted fourteen of the 33 reactors still operational in the country. It plans to reboot two reactors at the Kashiwazaki Kariwa nuclear power station over the next few months. As Japan's new prime minister Sanae Takaichi pledged during her election campaign to increase local electricity supply, reduce electricity costs, and reduce fossil fuel imports, it is expected that more nuclear power will be restarted. In 2024, Japan spent 10.7 trillion Japanese yen (68 billion dollars) on imported coal and liquefied gas. This was a tenth its total import cost. Imports are expected to fall as the country's nuclear power and clean energy assets continue their growth. As Japan's imports decline, gas and coal exporters will suffer. However, as utilities increase electricity production from nuclear reactors, and reduce output from plants which burn imported natural gas, Japan's energy supplies should become cleaner and more affordable. These are the opinions of the columnist, an author 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.
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The blockade on tankers ordered by Trump could put at risk the rising Russian naphtha imports to Venezuela
Market sources say that the U.S. president Donald Trump has ordered a ban on?all sanctioned tankers' entering and exiting Venezuela. Washington announced its latest move on Tuesday to increase pressure on Nicolas Maduro’s government through the imposition of a blockade. Venezuela uses naphtha as a diluting agent for its heavy crude oil to make it easier to transport. In July, it began importing naphtha in Russia after U.S. sanctioned cut off supplies to its former American suppliers. Due to the fact that Russia is using sanctioned ships to deliver its naphtha to Venezuela, traders have warned these vessels could be redirected elsewhere in search of new buyers. The Benin-flagged Boltaris tanker, which had around 32,000 metric tonnes of Russian naphtha destined for Venezuela, redirected late last week to Europe, without completing its discharge, according to LSEG data. Since the European Union embargo against Russian oil products went into effect in February 2023, Russia has exported the majority of its naphtha. India, Taiwan, and Brazil are among the top buyers of naphtha, mainly for blending into gasoline. After the U.S. imposed sanctions related to Ukraine on Russia's biggest oil companies last October and pressured India to cut Russian oil imports to a minimum, the number of Russian ports that loaded naphtha to asia dropped by 15% to 800,000 tonnes, according to LSEG data and market sources. Contrariwise, shipments into Latin America increased. According to?data, the number of naphtha exports from Russian ports into Venezuela increased in November, jumping to 190,000. metric tons, up from 35,000 tons the previous month. Several tankers remain on the road, and some of these cargoes are already discharged. According to December shipping data, at least 100,000 tonnes of Russian naphtha were destined for Venezuela.
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Ukrainian grain exports reduced by Russian attacks, says union
The Ukrainian farmers' union UAC reported on Wednesday that some grain export terminals were closed due to the recent Russian attacks on Black Sea ports, energy facilities and other infrastructure. Ukraine is one of the world's largest wheat exporters, exporting about 70% its harvest via Black Sea ports. Ukraine's exports are dominated by food. Russia increased its attacks on the southern Odesa port hub this month. One of the attacks left about a thousand households without electricity. UAC reported in its weekly report on Wednesday that Ukraine exported 359 150 metric tons (measured by weight) of wheat at the end of December, out of a total of 1 million tonnes contracted to be exported for the month. The union stated that certain export?terminals had ceased operations, and the port was operating at only 20% of its capacity. UAC stated that "we see that?for the second consecutive week, one of the Central Ports has been unable start up and function normally." "Traders don't know what to do." The port is a dangerous place to store grain, and the logistics aren't working well - there are frequent?power outages and constant interruptions with locomotives." Ukrzaliznytsia, the Ukrainian state railway, said that Russia attacked the port Pivdennyi and the rail infrastructure which delivers cargo to this?port. Barva Invest, an analyst firm, said that Ukraine's export terminals have reduced their grain intake due to Russian?attacks. Last week, Ukraine's Economy Ministry said that wheat exports in 2025/26 have fallen to 7.5?million tonnes so far compared with 9.2?million tonne for the same time period the previous year. The ministry said that Ukraine will not restrict its wheat exports for 2025/26 due to a large harvest at the start of the season and low export rates. (Reporting and editing by David Goodman)
Nike's marketing campaign is unlikely to increase earnings in the near future
Investors in Nike will be looking for signs this week that the recovery seen last quarter is sustainable, and that an increased marketing budget is helping the sportswear manufacturer claw back lost market share.
Nike, which has been synonymous with sport for a long time, is now trying to gain momentum, after losing ground to more hip alternatives like On and Deckers Hoka. The demand in China is choppy. Elliott Hill, the CEO of Nike, has promised to bring Nike back to its roots by focusing on core sports such as running and soccer.
This means clearing out older inventory, usually at a discount. This is impacting revenue when tariffs are high and margins are being squeezed. Nike increased its expected tariff costs for this year by $1.5 billion last quarter. The company cited exposure to high-tariff nations such as Vietnam.
This week, the company held a rare communications job fair in New York. The company is set to announce its second-quarter earnings this Thursday. Matthew Friend, finance chief Matthew, forecasted "an acceleration in demand creation investment", corporate speak for increased marketing spending.
According to LSEG 'data, the amount spent in fiscal 2026 is expected to reach $5 billion, up from $4.68 in fiscal 2025.
Mari Shor is a senior equity analyst at Columbia Threadneedle which owns Nike stock. She said that the increased focus on marketing was "a bullish indication that they felt better about the product" but that "they also acknowledged they needed to make an appropriate investment behind it."
According to LSEG, Nike will report a net loss for the sixth consecutive quarter. The profit is expected to have fallen to $562.35M from the previous quarter's $601.35M. After a slight increase in the first quarter, it is likely that second-quarter revenue will fall again. It's expected to be down by 1.09% at $12.22 billion. Gross margin is likely to have dropped from 42.2% during the first quarter to just 40.77%.
Focus on Marketing and Innovation
David Swartz, Morningstar analyst, stated that Nike's ads have focused more on the iconic brand than specific products in recent years. He said that as the company begins to develop new products and innovate, the advertising may change.
Swartz said: "Nobody is expecting an excellent quarter."
Anta and Li-Ning, two domestic brands, have been fiercely competing in China, where 15% of all sales are made. Retail in China is dominated by monobrand stores. This limits the ability of a company to sell through diverse channels, as Nike can in the United States.
Nike has made a significant investment in the new versions of its running shoe lines Pegasus Premium, and Vomero 18 as this category has been performing well. Conversely, Nike has scaled back the production of Air Force 1 sneakers. Nike has a golden opportunity to reaffirm their cultural cachet with new products that boost performance and the World Cup in six months.
The company has also formed partnerships with Kim Kardashian’s activewear and essentials label SKIMS. It promotes sustainability initiatives, such as recycled material, to meet the evolving demands of consumers for ethical shopping. Nicholas P. Brown contributed to this report. Juveria tabassum contributed additional reporting from Bengaluru. Sayantani Ghosh, Mark Potter and Sayantani Bhosh edited the article.
(source: Reuters)