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US House panel will consider legislation to speed up self-driving vehicle deployment
On January 13, a U.S. House of Representatives 'committee' will hold a hearing to discuss legislation that aims to make it easier for autonomous vehicles without the need for human control. Congress has been split for years on whether or not to pass legislation to overcome deployment obstacles. The National Highway Traffic Safety Administration is not granting exemption requests by major automakers, but has maintained safety regulations. The current law allows NHTSA?to exempt up to 2,500 vehicles per automaker annually if the company can prove that it would be safe. The Teamsters union and consumer groups have expressed concern about self-driving cars. In June, major automakers called on Trump to act?faster. Hearings are planned by the House Energy and Commerce Subcommittee to examine several draft proposals, including one that would allow vehicles to be operated without human control up to 90,000. Other proposals will address automaker complaints about obstacles to robotaxi deployment. Automakers, for example, say that safety standards like those requiring steering wheels or rear-view mirrors in vehicles are not necessary for robotaxis. A bill currently under consideration would prohibit states from establishing rules for autonomous driving systems, while another would mandate that NHTSA establish guidelines for calibrating advanced drivers assistance systems. Tesla launched a robotaxi service in Austin, Texas last year, with safety monitors, and Alphabet's robotaxi division Waymo is aggressively expanding to new markets. Mercedes-Benz announced on Monday that it would launch an advanced driver-assistance program in the U.S. this year. The system will allow its vehicles to operate autonomously within city streets while under driver supervision. U.S. Transportation secretary Sean Duffy stated in?April, that a new framework for the department to promote autonomous vehicles will help U.S. automobile manufacturers compete with Chinese competitors. After a pedestrian was injured by a General Motors vehicle in October 2023, the NHTSA opened several investigations into self-driving cars operated by Amazon.com Zoox and Waymo. Last year, the NHTSA said that it would expedite reviews of automaker requests to deploy self driving vehicles without human controls. The House of Representatives passed legislation in 2017 to speed up the adoption of self driving cars and prohibit states from setting performance standards. However, the bill failed to pass the U.S. Senate. Reporting by David Shepardson, Washington; Editing and review by Chris Reese & David Gregorio
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Analysts say that the impact of Venezuela on CANADA-CRUDE - Western Canada Select is likely to be limited for now.
The difference between the West Texas Intermediate benchmark futures and Western Canada Select futures has widened since Tuesday, but analysts say that Canadian heavy crude will not be impacted by Venezuela's situation in the short-term. WCS for Hardisty, Alberta delivery in February settled at $13.80 per barrel below WTI benchmark, according to brokerage CalRock. This compares with $13.55 a barge on Monday. Analysts and traders assess the 'potential for further weakness,' but the capture by the U.S. of Venezuelan President Nicolas Maduro so far has had a minimal impact on the Canadian differential. A TD Cowen Report said that a 'rapid ramp up of Venezuelan oil output could significantly pressure Canadian heavy crude oil prices in the mid-term. This is unlikely. The report stated that Canada's size, rule of law and infrastructure work in its favor. If Venezuela significantly increased its production, it would give its heavy oil barrels an advantage in terms of location over Canadian heavy crude oil barrels on the U.S. Gulf Coast. ATB Capital reported that the majority of Canada's oil exports go to the U.S. Midwest. This region is less vulnerable due to its proximity to Canada and existing pipeline system. ATB Capital stated that Canadian oil prices will be more affected by OPEC+ policy in the future, Canadian egress from the west coast, Russian exports and global demand than the situation in Caracas. The global oil price fell on Tuesday, as the market weighed the expectations of an ample supply of crude this year with the uncertainty surrounding Venezuelan crude production after the U.S. captured Nicolas Maduro.
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Sources: Telecom Italia and Fastweb are looking to save money on 5G with Italy's network agreement
Three sources said that Telecom Italia and Swisscom's Italian division Fastweb were close to a deal for a network sharing agreement. This would help them cut the costs of upgrading and operating 5G infrastructure in Italy. According to Asstel, Italian telecom firms want to revamp their "business model" after losing almost a quarter of their revenue in 2010 and having their post-investment funds drop to zero. In 2010, they had 10.5 billion euro ($12 billion), but that year it was down to zero. The deal will help TIM, and its rival Fastweb, upgrade their'mobile networks' to 5G, a technology that was built from scratch, rather than based on 4G. Meanwhile, the sector is still being squeezed by fierce competition. According to a source with knowledge about the deal, TIM could save up to 300 million Euros over ten years. The project is code-named Prism internally and has not been reported previously. It covers active network components, such as antennas and base stations. The people declined to name themselves as the plans were not made public. Two sources stated that the parties aim to complete a final agreement by early march after reaching a preliminary agreement in recent weeks. Fastweb and Telecom Italia representatives declined to comment. Upgrade your network! Fastweb became Italy's leading mobile operator in 2013 after buying out Vodafone's local operations for 8 billion euros. The agreement with TIM will revive a network sharing plan that TIM,?Vodafone and INWIT agreed on but never implemented after their merger in 2019. People said that the?deal' would require each operator to upgrade the technology in specific areas, to avoid duplication of investment and manage costs. Spectrum sharing is also expected.
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Teen dies after bus strikes ultra-Orthodox demonstrators in Jerusalem
On Tuesday in Jerusalem, a mass ultra-Orthodox Jewish protest against military conscription ended tragically when a teenager was crushed to death after a driver of a bus struck the crowd. Israeli police confirmed that they have detained the driver, and are currently investigating. A video of the incident shows the bus crashing into the crowd of ultra-Orthodox protesters. ? The police were unable to contact the driver immediately while he was in custody. Magen David Adom emergency service in Israel?said that the 18-year old, who was trapped under the bus and pronounced dead at the scene. Benjamin Netanyahu has been under increased political pressure in the last year because of the 'debate about mandatory military service and those who are exempt from that. Since long, ultra-Orthodox students in seminaries have been exempted from military service. Many Israelis criticize what they perceive as an unfair burden that is carried by those who serve. Religious leaders fear that army service will weaken their ultra-Orthodox community's sense of religious identity. In the midst of increased military activity, the?issue of service in the military has become a major source of tension. Israel's military has suffered its highest death toll for decades in the past two years due to conflicts involving the Gaza Strip and other countries such as Lebanon, Syria, Yemen, and Iran. Reporting by Emily Rose, Tamar Uriel Beeri and Lisa Shumaker.
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Goldman Sachs is the global leader in M&A deals with $1.48 trillion.
Goldman Sachs dominated again the league tables of global dealmaking for 2025. It took the market share and top spot in an year that was marked by high stakes political dramas and ever-larger mergers. Goldman's No. 1 ranking was boosted by the rise of $10 billion deals, which totaled $1.5 trillion last year, or more than double the previous year. According to LSEG data, Goldman ranked No. 1 in the world. The firm was involved in 38 of these deals, more than any other investment bank. Total volume of advised deals was $1.48 trillion. This was the most active period in terms of mega deals since LSEG began keeping records in 1980. Goldman's global co-head of M&A Stephan Feldgoise called 2025 "an exceptional M&A year" and told clients that the "ubiquity in capital" was driving activity, according to 2026 M&A forecasts from the investment bank. Goldman was ranked No. Goldman ranked No.1 in two areas of importance: M&A revenue and the overall value of deals it worked on. It gained market share in both. According to LSEG, it was paid $4.6billion in M&A fee revenue, followed by JPMorgan with $3.1billion, Morgan Stanley with $3billion, Citi at 2billion and Evercore $1.7billion. Goldman Sachs, JPMorgan, and Morgan Stanley occupied the first, second, and third positions, respectively, in terms of volume of transactions, followed by Bank of America, and Citi. According to LSEG, Goldman held a 44.7% market share in 2025 for announced M&As that involved Europe, Middle East, and Africa. This level was only surpassed once, in 1999. Dealmakers claim that a looser regulatory environment made previously prohibitive deals across all sectors possible. The more permissive antitrust enforcement of U.S. president Donald Trump gave industry titans confidence to team up and make the biggest deals in the rails, consumer products, media, and technology sectors. Goldman dominated the M&A market last year with $1.48 trillion worth of deals, or 32%, according to LSEG. However, Goldman was not involved in the two largest M&A transactions: Union Pacific's $88.2 Billion purchase of Norfolk Southern by the railway, nor the heated bidding battle for Warner Bros Discovery. Bank of America, Barclays and Wells Fargo and several boutique investment banks all got a piece of these two mega deals. CEOs are looking to scale operations. The desire to scale up and grow strategically is high. This has led boardrooms to become more proactive. People aren't waiting for a business to be sold to start M&A activities," Anu Ayiengar said in an interview. JPMorgan was a major advisor to Warner Bros for its sale, and also helped Kimberly-Clark in its $50.6 Billion purchase of Tylenol manufacturer Kenvue. These were the two biggest deals the bank had done this year. JPMorgan beat Goldman in the race to be the most-paid global investment firm after taking into account fees from equity and debt capital markets. The bank earned $10.1 billion, compared to $8.9 for Goldman. The dueling bids by Netflix and Paramount Skydance for Warner Bros, at $108 billion and $9 billion, respectively, plus debt, helped propel some law firms and banks to the top of the list. These included Wells Fargo and Moelis & Allen & Co as well as Latham and Watkins. Wells, the firm that advised on 10 $10 billion or more deals, such as Netflix's bid to acquire WBD, jumped eight spots from 2024 up to number one. 9. Moelis Boutique Bank, which advised Netflix as well, has jumped three rungs ahead in 2025 to be ranked No. 16. The deal was one of five worth over $5 billion each, including the sale of Essential Utilities for $20 billion. It could depend on the winner of Warner Bros' bid if they remain at their current ranking. LSEG, a data provider, says that advisors from both bidders currently get credit for the rankings. However, this will change when Warner Bros selects a winner. RedBird Capital Partners,?M. Klein & Co. is a contender in the top 25, despite not making the top 120 list last year. This is thanks to the work they did for Paramount. LSEG stated that the Warner Bros board was leaning towards rejecting Paramount’s latest offer. People familiar with board thinking previously told us. Wells would gain two spots in the rankings if Paramount rescinds their offer. Paramount's M&A team, however, would lose one, according to the data. Charles Ruck is the global chair of LSEG No. 1's corporate department. Latham & Watkins ranked No. 1 in M&A legal advice, attributed the increasing number of large transactions to "size creep." Deals are more expensive because the Nasdaq and S&P 500 both finished higher last year. Latham was involved in the Paramount deal, the $55 billion leveraged purchase of Electronic Arts video game maker and the $40 billion sale Aligned Data Centers. He said that the market was even more ready for consolidation. In an interview, he stated that "the pipeline is full." "All the macro indicators are there, correct? The interest rates are falling, making it easier for private equity firms to make deals and achieve their targets. The IPO market has not been as strong as anyone would have hoped, so M&A is the best way to exit. You've got an environment that is largely friendly to the regulatory system, which helps determine who wins and loses."
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Goldman Sachs is the global leader in M&A deals with $1.48 trillion.
Goldman Sachs dominated again the league tables of global dealmaking for 2025. It took the market share and top spot in an year marked by high-stakes politics and ever bigger mergers. Goldman Sachs' No. 1 ranking was aided by the rise of $10 billion deals, which amounted to $1.5 trillion in total last year, a more than two-fold increase from the previous year. According to LSEG data, Goldman ranked No. 1 in the world. The firm was involved in 38 of these deals, more than any other bank. Its total volume of advised deals was $1.48 trillion. This was the most mega-deals ever recorded by LSEG since 1980. Goldman's global co-head of M&A Stephan Feldgoise called 2025 "an exceptional M&A year" and told clients that the "ubiquity in capital" was driving activity, according to 2026 M&A forecasts from the investment bank. Goldman was ranked No. Goldman ranked No.1 in two areas of importance: M&A revenue and the overall value of deals it worked on. It gained market share in both. According to LSEG, it was paid $4.6billion in M&A fee revenue, followed by JPMorgan with $3.1billion, Morgan Stanley with $3billion, Citi with $2billion, and Evercore $1.7billion. Goldman, JPMorgan, and Morgan Stanley ranked first, second, and third in terms of the volume of transactions, followed by Bank of America, and Citi. Goldman had a 44.7% market share in 2025 for announced M&As that involved Europe, Middle East, and Africa. This level was only ever exceeded once, in 1999. The technology sector accounted for the majority of deals last year. However, dealmakers claim that a looser regulatory environment has made previously prohibitive deals across all sectors possible. The more permissive antitrust enforcement of U.S. president Donald Trump gave industry titans confidence to work together on the biggest deals in railways, consumer goods, media, and technology. Goldman dominated the M&A market last year with $1.48 trillion worth of deals, or 32%, according to LSEG. However, Goldman was not involved in the two largest M&A deals of the year, the $88.2 Billion purchase by Union Pacific of Norfolk Southern and the intense bidding war between Warner Bros Discovery and Warner Bros. Bank of America, Wells Fargo, Barclays and Bank of America also had a piece of these two mega deals. CEOs are looking to scale their operations. The desire to scale and grow strategically is strong, and this has prompted boardrooms and executive suites to become more proactive. People?do not wait for a company's sale before they start M&A activities," Anu Ayiengar said in an interview. JPMorgan was a major advisor to Warner Bros for its sale, and also helped Kimberly-Clark in its $50.6 Billion purchase of Tylenol manufacturer Kenvue. These were the two biggest deals the bank had done this year. JPMorgan beat Goldman in the race to be the most-paid global investment firm after factoring in fees for equity and debt capital markets. The bank earned $10.1 billion, compared to $8.9 million from Goldman. Paramount Skydance and Netflix’s dueling offers for Warner Bros, at $108 billion and $9 billion, respectively, included debt, catapulted some banks, boutiques and legal firms to the top of the M&A list, including Wells Fargo and Moelis and Allen & Co. Also, Latham and Watkins, a law firm, ranked highly. Wells, which advised on 10 $10 billion+ deals, including Netflix’s bid for WBD (and other similar deals), jumped eight spots from 2024 to the No. 1 spot. 9. Moelis Boutique Bank, which advised Netflix as well, has jumped three rungs ahead in 2025 to be ranked No. 16. The deal was one of five worth over $5 billion each, including the sale of Essential Utilities for $20 billion. It could depend on the winner of Warner Bros' bid if they maintain their current ranking. LSEG, a data provider, says that advisors from both bidders currently get credit for the rankings. However, this will change when Warner Bros selects a winner. RedBird Capital Partners, M. Klein and Co., who didn't even make the top 120 in 2014, are now contenders for the top 25 thanks to the work they did for Paramount. LSEG stated that the Warner Bros board was leaning towards rejecting 'Paramount's latest proposal, according to people familiar with its thinking. Wells would gain two spots in the rankings if Paramount withdraws their offer. Paramount's M&A department would lose one, according to the data. Charles Ruck is the global chair of LSEG’s No. 1 corporate department. Latham & Watkins ranked No. 1 in M&A legal advice, attributed the increasing number of large transactions to "size creep." Deals became more expensive in 2014 because the Nasdaq and S&P 500 both rose by 20.36 percent. Latham was involved in the Paramount deal, the $55 billion leveraged purchase of Electronic Arts video game maker and the $40 billion sale Aligned Data Centers. He said that the market was even more ready for consolidation. In an interview, he stated that "the pipeline is full." "All the macro indicators are there, correct? The interest rates are falling, making it easier for private equity firms to make deals and achieve their targets. The IPO market has not been as strong as anyone would have hoped, so M&A is the way to go for exits. You've got an environment that is largely friendly to the regulatory system, which helps determine who wins and loses."
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Pilots of Air Transat Canada have signed a five-year contract
The 'Air -Line Pilots Association', which represents the 725 pilots of Air Transat, reported that the majority of the airline's pilots approved a five-year contract. According to the union, approximately 90 percent of Air Transat's pilots have approved the contract. It reportedly increases flexibility in pay and schedules. Early December, the two sides reached a deal that narrowly avoided a strike by the pilots. "While it was unfortunate that this level of pressure had to be applied, our unity was what ultimately produced results," said Captain Bradley Small, Chair of the?ALPA Air Transat Master Executive Council. The new agreement has a backdate of May 1, 2025 and expires on April 30, 2030. According to its website, the carrier's primary focus is on international holiday travel to destinations such as Europe, South America, Africa, and the Caribbean. (Reporting from Seattle by Dan Catchpole; editing by Nia Williams).
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Shipping data shows that Chevron continues shipping Venezuelan oil but has put the loading on hold to accommodate Chinese buyers.
Shipping data revealed that Venezuela only loaded crude?for U.S. Chevron on February 2, while the state-run PDVSA halted operations to?load?cargoes destined for its principal customers in China for a fifth consecutive day. U.S. Forces captured President Nicolas Maduro and brought him to New York for drug charges. Delcy Rodriguez, the interim president of the Venezuelan government is now in charge. The U.S. says it will supervise the administration. Last month, the United States placed a blockade against sanctioned oil tanks sailing into Venezuelan waters and out of them. This halted all exports except those that were destined for Chevron. Chevron, the only U.S. oil major operating in Venezuela under a U.S. licence, is exempt from the sanctions imposed by Washington against Venezuela's petroleum industry to "choke off" revenue that funded Maduro’s government. Ship monitoring data revealed that on Tuesday, Chevron's chartered vessels were the only ones to load crude oil for export in Venezuela's Jose and Bajo Grande port. According to PDVSA documents, other ships were either loading to move oil to and from domestic ports or to store "crude" because the onshore storage facilities were almost completely full. According to data and documents, the last crude cargo loaded at Jose for an Asian client finished loading on 1 January. PDVSA may be forced to increase production cuts if it does not export more because the storage tanks are full. FLOWING Chevron resumed Monday exports of Venezuelan crude oil to the U.S., after a four day pause. The company also called its workers in other countries back to their?Venezuelan office as flights into the country resumed. In recent weeks, the U.S. company has become the sole firm exporting Venezuelan crude oil. In early January, at least 12 vessels that were under sanctions and had loaded in December but had been stuck due to the embargo in Venezuelan waters left. These vessels carried around 12,000,000 barrels of crude oil and fuel. The vessels' destination was not known, even though they were originally loaded for Chinese customers. Transponders were turned off on the ships, so they left in "dark mode." The ships appeared to have broken the U.S. blockade. The U.S. Government has not made any comments on the ships or if it authorized their departure. PDVSA did not respond to a comment request. Chevron stated this week that it continues to operate in "full compliance with all applicable laws and regulations." According to data from ships and eyewitnesses, even after the dozen vessels had sailed away, many of them were still anchored in Venezuelan waters near oil ports, either waiting to be loaded or already fully loaded.
Ryanair and Wizz Air passenger numbers surge in December amid holiday demand
Budget airlines Ryanair and Wizz Air reported strong passenger growth in December compared to the previous year, reflecting the robust demand for holiday travel among budget-conscious 'holidaymakers.
According to data collected by the airlines, Ryanair is Europe's biggest budget airline, measured in passenger numbers. It carried 14.5 million passengers, an increase of 7% from December 2024. Wizz Air, on the other hand, flew 5.85 millions passengers, an increase of 15.5% from year-to-year.
The continued popularity of budget travel is evident as European holidaymakers seek out affordable flight options during the Christmas period despite economic uncertainty.
Ryanair reported that it operated 82,000 flights during December and had a load-factor of 92% for the month. This was unchanged from year to year. The load factor is a measure of how efficiently an airline fills its seats.
In November, the Dublin-based carrier said it would fly 207 millions passengers by the end of March, which was one million more than it had predicted earlier. This is because improved Boeing deliveries allowed it to increase capacity in both the first and third quarters.
Wizz Air Hungary, on the contrary, actively manages operational?challenges. It has closed bases in Abu Dhabi, Vienna and delayed 88 Airbus deliveries to offset capacity constraints, cost pressures and ongoing issues with its Pratt & Whitney engine.
Wizz has reported a slight decrease in its load factors to 85.9%, while increasing capacity by 16.3%. (Reporting from Nithyashree B. and Yadarisa. Shabong, in Bengaluru. Editing by Janane. Venkatraman.)
(source: Reuters)