Latest News
-
Canada invests C$4.7 Billion to build VIA Rail Cars domestically
The Prime Minister, Mark Carney, announced on Thursday that his government will invest C$4.7 billion ($3.41billion) in Canada to build and maintain VIA Rail's passenger cars. This is the first time the company has built its cars domestically in 40 years. For the first time since four decades, VIA passenger cars will be assembled and produced in Canada. Cars that were previously built in the United States are now being built here in Thunder Bay by Alstom Canada," Carney said at a news conference in Thunder Bay. Carney stated that the investment will support 313 new-generation cars in Ontario and Quebec and nearly 700 jobs. The announcement coincides with a worsening of the trade war between Canada and the United States. The announcement comes amid a worsening trade war with the?U.S. Carney said that his government is "ready" to strike a deal with Washington when it's ready. But, any agreement must have stability and credibility.
-
Airbus reduces A330 deliveries following a stray item found in the plane
A person with knowledge of the situation said that Airbus was forced to slow down deliveries of the A330neo after a stray instrument was found in the tail section on an aircraft currently in production. The company confirmed that it had recently discovered a 'quality issue' on a horizontal tail plane A330 in an email. This led us to inspect A330s during the production process and slow down monthly deliveries throughout the summer. The root cause has been identified, and A330 deliveries are now resumed. Bloomberg News was the first to report on the quality lapses and delays. Airbus did not deliver any A330s in either June or July. Airbus data will be released 'next week and is expected to show that only one A330 out of 57 jets was delivered in the month of August. A person with knowledge of the issue said that the problem was caused by a tool found inside the aircraft's structure. It was discovered during an inspection before delivery. Airbus' Spanish factories manufacture the horizontal tail plane that controls the nose angle of an aircraft. Airbus has not revealed where the aircraft was at the time the object was 'left behind or found. The person stated that the discovery was not connected to a recent?of strikes in Spanish?plants. The industry has repeatedly launched campaigns to ensure that loose objects are not damaged by Foreign Objects, including tools and rags. RFID and internet-connected technologies are being used by manufacturers to track tools, equipment, and other items. The Australian Transport Safety Bureau stated in a report published last month about a maintenance failure on an aircraft that was already in service that FOD could pose a serious risk to the safe operation of an aircraft.
-
France begins testing Tesla's self driving tech
The French Ministry of Transport, Philippe Tabarot, announced that France had begun testing two cars in order to assess Tesla's FSD (advanced driver assistance system). This could be a major step towards Europe's approval of Elon Musk’s autonomous driving technology. The Netherlands Road Authority RDW approved Tesla’s Full Self Driving System for use on Dutch highways on a proviso basis in April. This prompted Belgium, Denmark and Estonia to follow suit in anticipation of a bloc wide vote on the plan that could happen as soon as next month. FSD is an assistance system for drivers that allows them to accelerate, brake and steer their car while the driver remains available. However, it does not result in a self-driving vehicle. Tabarot said in July that the safety 'trade-offs' were not sufficient to justify an authorisation. This was specifically true for areas such as speed limiters and driver attention alerts. In a late-night post on X, the minister?said he'd had "a productive exchange" with Musk about the technology. He had worked closely with Tesla over several?months to adapt the technical aspects needed by France?to approve it. "With the supply of two Tesla vehicles with FSD, we now enter a new phase - that of road testing," he stated. Test Results Expected Mid to Late September In a photo that was shared with the post, Musk is smiling on a computer monitor in a videoconference with Tabarot. A source in the transport ministry said that Tesla had initiated the meeting. Tesla had no immediate comment. The company had previously said that FSD approval was key to increasing sales in Europe. The electric vehicle manufacturer said earlier this week that its FSD system had recorded 4.1 times less collisions than Tesla cars driven manually in the five European countries where the technology is allowed. This was based on a total of more than 100,000,000 km (62,000,000 miles) worth of driving data collected between?April?and?August. A source from the transport ministry said that France wanted to conduct its own tests in order to verify the data provided to it by the Netherlands and Tesla and test the system using French roads and urban areas, which are different to those of other countries. The aim is to have the test results by mid-late September so that it can vote on a bloc decision in the coming months. The EU's Technical Committee on Motor Vehicles is due to meet on 6 October. The source from the Transport Ministry said that a vote could take place on that day, or at the next group meeting, which is scheduled for early December. He also added that he expects Tesla to be willing to address their concerns and allow the technology to become approved in Europe.
-
Utilities NextEra and Santee Cooper switch legacy systems to Google AI
Google's artificial intelligence will replace legacy systems at major U.S. electricity companies NextEra Energy and Santee Cooper. This includes weather forecasting, certain operational planning and other legacy systems. The development of AI is upending the U.S. Electric Utility industry. Data centers are driving up the power demand, while utilities try to implement AI in their businesses at the same time. Santee Cooper has announced that it will be switching from its current weather prediction to Google AI tools. The company claims these are targeted enough to "predict" changes in the'microclimates' caused by two large South Carolina lakes. * The development of long-term hedge strategies and near-term planning are heavily influenced by weather forecasts. Santee Cooper's CFO Tami wilson said that if the company is caught off guard by unpredicted weather changes, buying power on the spot market can cost $100,000 per hour. NextEra has also announced that it launched a system developed with Google's Gemini Enterprise Agent Platform. The system will bring together information on power generation, fuel, and energy storage to help the company and its customers plan and work on-the-ground.
-
Sources and data: Russia ships more than 10 millions barrels of crude oil via Arctic to China
Two trade sources and LSEG data show that Russia has shipped over 10 million barrels via the Northern Sea Route this 'year. This is a boost to supplies to China, as buyers look for alternative sources amidst disruptions in iranian oil exports, and worries about Middle -East shipping routes. The NSR is navigable between July and October, offering a quicker route to Asia compared to the usual Suez Canal. Last year, Russia shipped 13 million barrels through the 'Arctic Route' during the entire navigation season. This suggests that the demand for supplies via the NSR this year is high. LSEG data shows that China is the only destination of crude?cargoes shipped via this route. However, traders?said that deliveries to other Asian countries including India are planned for later in the season. The data showed that 12 oil tanks have used the Arctic Route this year. All of them are currently scheduled to discharge cargoes in China. Traders said that China recently increased its purchases of Russian crude due to a tightening iran oil supply and concerns about transit through the Strait of Hormuz. This has pushed premiums for Russia’s Far -East ESPO blend crude for delivery in November to China to new highs. The NSR is a new trade route that Russia has been promoting as an alternative to the regular shipping lanes, which are affected by geopolitical tensions. Rakesh Mihshra, Director of Indian Logistics Company Y&H Cargo told Russia's TASS News Agency at the Eastern Economic Forum held in Russia last week that 'the importance of the route is increasing' because 'of the growing uncertainty in the 'Middle East'. Mishra stated that the Middle East situation is unclear and many airlines have canceled their services through the Suez Canal.
-
Boeing fined FAA $3.1 Million for widespread safety violations
Boeing?paid a fine of $3.1 million to the U.S. federal aviation?administration this year after the agency claimed that the planemaker committed a number?of safety violations including?actions related to the '2024 Alaska -Airlines MAX 9 in-flight emergency. The FAA announced Wednesday. Boeing paid the FAA in January, and it was not disclosed before. Boeing confirmed that it had paid the fine. Boeing was also fined last year by the FAA for interfering in safety officials' autonomy and for presenting two unairworthy aircraft to the agency. The FAA reported that it had found hundreds of?quality system violations in 2024 at the Boeing 737 Factory in Renton Washington and the 737 Fuselage Factory of the then Boeing Subcontractor Spirit AeroSystems located in Wichita Kansas from September 2023 to February 2024. The FAA has found that a Boeing employee 'pressured' a coworker performing tasks for the FAA, to sign off a 737 MAX in order to meet the delivery schedule of the company. This was despite the fact that the coworker determined the aircraft did NOT comply with regulatory standards. Democratic U.S. Senator Richard Blumenthal called the FAA's fine insufficient, adding, "For Boeing such fines are easily absorbable as a cost of doing business and not a meaningful dissuasion to dangerous behavior." Blumenthal investigated Boeing safety issues before and presided over a committee that looked into the Alaska mid-air cabin blowout. The panel's report revealed that Boeing whistleblowers had raised serious concerns about the manufacturing processes of the company. Alaska Airlines' incident, in which a 737 MAX was found to be missing four bolts, damaged?Boeing’s reputation. It led to a temporary grounding of the MAX 9 as well as a FAA monthly production limit of?38 aircraft that was lifted in October 2025. In July, the FAA announced that it would permit Boeing to issue airworthiness certifications for all 737 MAX aircraft and 787 planes following "months-long data analysis and safety reviews demonstrating consistent quality production."
-
Sources say that Chinese buyers are seeking alternatives to Middle East oil as they increase their purchases of Russian ESPO crude.
Four traders reported that the premiums for Russia’s Far East ESPO blend crude for delivery in November to China have risen to record levels as Chinese refiners increase their purchases amid shrinking Middle East and Iranian supplies. ESPO cargoes due to be delivered at the end October and November trade at a premium of over $7 a barr to ICE Brent. According to traders, offers have been heard up to a record-breaking plus $10 a barron on a shipped basis to China. Trading firms said that Sinopec, the state-owned Chinese refiner, was at the forefront of this buying spree, which reflects a strong demand for alternative crude oil supplies, as traders continue to express concerns about disruptions in shipments across Strait of Hormuz. As tensions in the Middle East threaten regional oil supplies, Chinese refiners are increasingly turning to Russian grades. Early trade on Wednesday saw oil prices rise by nearly 1%, after the United States & Iran exchanged strikes overnight. This fueled fears of more supply disruptions & reduced expectations of a near-term ease in tensions. Traders said that the strong Chinese demand for ESPO had already led to most of November's cargoes selling well ahead schedule. IRANIAN CRUDE IS NOW AVAILABLE AT A LOWER PRICE The traders reported that November ESPO cargoes started trading this week. Premiums for deliveries to China's independent re-finers (known as teapots) have risen to $10 per barrel delivered. The rally is a dramatic turnaround from the early?summer when ESPO blend cargoes were trading at discounts to ICE Brent. As demand has increased, October cargoes are now back in premium territory. The latest increase in crude oil prices was attributed to a decrease in the availability of Iranian crude. This has traditionally been the main source for teapot refiners from China. After the U.S. resumed its naval blockade mid-July it forced buyers to look for replacement barrels. ESPO blend, a product highly prized by Chinese refiners due to its proximity?and short shipping time, is now one of the biggest beneficiaries?of this shift in crude purchasing patterns. Participants in the market said that premiums will likely remain high as long as there is uncertainty about Middle Eastern supplies and Iranian imports.
-
Iran's website shows that more ships are blacklisted for trying to pass through the Hormuz Strait.
According to a government website, Iran has added new ships that it considers non-compliant and subject to fines or confiscation if they try to sail through Strait of Hormuz. Tehran announced on August 24 that it had blacklisted 45 tankers for violating its rules to navigate the Strait of Hormuz and that any vessel transferring cargo would be subjected to action. This comes six months after the U.S.-Israeli war began. Updated on the website of the Persian Gulf Strait Authority, a body created by Iran to'manage the strait', eleven more ships have been added. The total number of blacklisted vessels is now '56. Sources in the shipping industry said that the update took place within the last 24 hours. Iranian officials have not responded to a comment request. This list is restricted to very large crude carriers, liquefied petroleum gas, liquefied natural?gas, and other clean product vessels. The PGSA website states that "any vessel cooperating (via STS oil transfer, transshipment), will be added to this list." To request removal from the area, vessels must submit an official application with reasons." ADNOC Logistics and Shipping of the United Arab Emirates, ADNOC subsidiary Navig8 tankers and Saudi Arabian national shipping carrier Bahri are among the owners of some of the previously named ships. Sources with direct knowledge told late August that after the announcement of the 'blacklisted' tankers, three Indian oil refiners, and one global energy'major, planned to stop using the vessels because of security concerns. The restrictions are likely to further restrict efforts to export oil through the strait. Traffic in this area, which handled 20% of all global oil and LNG shipments before World War II but has since been reduced to a trickle, is expected to continue to decline. The U.S. imposed sanctions?? on the PGSA? in May. This complicates any engagement with this body, which could result in the U.S. Treasury freezing assets if any fees or transactions are paid.
United's Chief takes the fight against American to the White House with a merger pitch
Scott Kirby, the CEO of United Airlines has been arguing for more than a ten-year period that only two premium airlines can be supported in the U.S. He has now taken that view to the White House, where he floated the idea of merging with American Airlines, his fiercest competitor.
Kirby's strategy can be traced to the closing of?the American/US Airways merger on December 9, 2013. Kirby was then a senior executive at American. Kirby told a New York audience in March 2025 about a conversation he had with his team at American about the future of the airline industry.
Kirby said, "There is only enough room for two premium airlines in the United States." "We're pushing United out of Chicago." After being passed over by American for the CEO position, he left three years after the 2013 merger. He was hired by United and spent the last decade trying to reverse that strategy, fighting against American at Chicago's O'Hare Airport.
The latest move extends that rivalry outside of the playing field. Sources revealed late Monday that Kirby met President Donald Trump in February and pitched the American Airlines merger to him, appealing to Trump's broad ambition to create U.S. Corporate Champions.
It wasn't immediately clear if United had approached American to discuss a possible deal or if the idea was still preliminary.
United and American declined to comment on this article.
Kirby has also spent months engaging the administration, according to people familiar with the situation. This included an appearance on Katie Miller Podcast, the show hosted by Stephen Miller's wife. Kirby's participation in the show was criticized by far-right activist, Laura?Loomer.
Loomer wrote: "Scott Kirby was the guy who fired employees for refusing the COVID vaccine and spent years acting as a Biden climate cultist." "Scott Kirby, a wolf dressed as a sheep is not a good thing."
BATTLE OF AIRLINE CHAIRMEN
This rivalry is also visible in public.
The?CEOs from American Airlines and United Airlines appeared at the J.P. Morgan Conference last month -- Robert Isom of American Airlines in the morning, and Kirby of United in the afternoon. Kirby was asked to comment on Isom's description of United's Chicago expansion when he was present. He said, "I took that as a complement."
Robert?Mann is a former airline executive and consultant who said that the rivalry has gone beyond normal competition.
He said, "It is a grudge-match to some extent." "Robert Isom against Scott Kirby after school in the schoolyard -- Brass knuckles." Kirby argues that shocks such as the current fuel price spike will "accelerate" the gap between brand loyal airlines and the rest, creating opportunities for consolidation.
FUEL PRICE SPIDING: AN OPPORTUNITY OR A RISK? American has parts of this profile. Its shares and earnings are behind those of its competitors and the unions have criticized management harshly.
However, its own numbers complicate the picture. Last month, CFO Devon May stated that the airline had a first-quarter liquidity of more than $10 billion and a debt level at ten-year lows. It is still one of the largest U.S. airlines with the highest leverage.
Isom stated last month that "Americans are built for times like these, no matter how long it takes."
This leaves American, which is in the middle: not strong or weak enough on its own to command a high valuation but not weak enough for it to be a target of easy acquisition.
Kirby's argument for a merger is based on the international scale. A combined airline could reach more markets in which foreign carriers dominate long haul flying. This was a pitch for the White House focused on trade deficits.
The domestic reality is not in favor of the argument. The merger would bring together two of the biggest U.S. Airlines with a lot of overlap, such as Chicago O'Hare airport and other major hubs in Texas.
These are the exact markets that regulators will most likely scrutinize and then demand asset sales.
WINNERS AND LOSSES IN MERGER PLAN
A sale is a better option for American investors than waiting on a turnaround.
Stocks rose more than 8 percent on Tuesday, reflecting the expectation of a premium to be paid for a company worth about $7 billion. This is less than one-third of United's market capitalization of $31 billion. The arithmetic is in the opposite direction for United shareholders. Fuel costs are rising due to the Iran War.
United has about $20 billion of?long-term?debt and is working towards an investment-grade credit rating, a milestone that its finance chief said last month the airline expected to reach before the end this year or the next.
Adding American's approximately $25 billion debt would leave the combined firm with around $45 billion of liabilities. United's ability to maintain its balance sheet would be put to the test, even though it is promoting financial discipline and investment grade ratings.
The deal would also bring American more than 139,000 staff and a fleet over 1,000 aircraft.
This risk is heightened by the?surge of fuel prices. Jamie Baker, an analyst at J.P. Morgan, cut his United earnings estimate last week to a loss of $1 per share for the entire year if fuel prices remain high. Although sustained high fuel prices will shift structural advantage to high-margin airlines like Delta Air Lines, and United Airlines, industry officials privately state that a United-American merge would be difficult in the current climate.
One industry official said that a United acquisition of American would be "like digesting a whale". (Reporting and editing by Joe Brock, Matthew Lewis and Rajesh Kumar Singh from Chicago)
(source: Reuters)