Latest News
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US launches probe into Avride crashes in Texas
The National Highway Traffic Safety Administration announced Friday that it is launching an investigation into a number of crashes involving Avride’s autonomous vehicles. These crashes raised concerns about the?performance?of these vehicles. NHTSA said that the behavior of vehicles may be indicative of excessive assertiveness or insufficient capabilities, which "may also constitute violations of traffic safety". Several of the crashes caused property damage, and there was one minor injury. NHTSA stated that the vehicles failed to avoid vehicles or objects on the road and had performed lane changes. NHTSA stated that Avride operated?some of their AVs on Uber’s platform and offers passenger services in Dallas, where many incidents occurred. NHTSA identified 16 accidents as being of concern. Avride welcomed the opportunity to "provide the agency with an in-depth understanding of our safety protocol and technology." It added that "in?all cases, the vehicle was under supervision by a trained safety officer on board." The vehicle was usually traveling at a low speed and most of the incidents were caused by other road users. The company has said that it has "implemented specific technical and operational mitigations to address our findings in each reported incident." Avride uses Hyundai's Ioniq 5 platforms and said it had a fleet of 200 vehicles last month. It is also adding dozens each month. In recent years, NHTSA opened "several investigations" into self-driving vehicles and advanced driver assist systems. According to the agency, a preliminary analysis of crash?videos revealed instances where vehicles changed lanes and into other's path, failed to slow down or stop in time for traffic, and struck stationary objects that partially blocked lanes. The investigation will evaluate the extent and severity of any potential problems or risks to passengers and other road users. This includes technical and operational factors as well as safeguards. Uber and Hyundai didn't immediately respond to comment requests. Reporting by David Shepardson, Editing by Chizu nomiyama and Mark Potter
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Greece investigates Ukrainian-made Naval Drone Found in Cave at Island
Sources from the Greek police and coast guard said that they are investigating a 'drone boat' found by fishermen in a cave of the ionian island?Lefkada. The exact route taken by the unmanned surface vessel (USV) made in Ukraine to reach Greek waters was unclear. The unmanned surface vehicle (USV) was found by fishermen late on Thursday. Officials, speaking under condition of anonymity, said preliminary findings indicated that the MAGURA V3 type sea?drone had three detonators. The Greek army was unable to confirm that the ship was?loaded with explosives', according to a source. Divers were on the scene as bomb disposal experts dismantled the drone and removed its batteries. A military official said that security forces would lead the investigation into determining 'its technical characteristics and potential purpose. A coast guard source said that investigators are investigating if the drone was meant to target ships containing Russian oil in the wider Mediterranean. Sources in maritime security?said that the ship could have been part a shipment of such drones or it may have drifted after a failure to signal. Reporting by Yannis Souiotis. Renee Maltezou is the writer. Mark Potter (Editing)
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Ukraine is short on air defence missiles
The Ukrainian air force said on Friday that it was running out of air defence missiles following Russia's massive winter campaign. The launchers that are assigned to certain batteries and units today are only half full - to put it mildly. Ukrinform reported that the air force has a limited supply of'missiles. Ukraine has used domestically developed technologies, such as interceptor drones and mobile gun units, to take down Russian long-range drones. But for the?interception of missiles, Ukraine remains heavily reliant on foreign air defence system. In the more than four-year war in Ukraine, deliveries of air defence systems from its allies have been delayed and disrupted. Ukraine faces increased pressure to supply these systems, as they are now being extensively used in the U.S. and Israeli war against?Iran. Ihnat stated that "we?are on a short supply of missiles today due to certain supply problems." Mark Potter edited this article. Mark Potter edited this article.
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A new hantavirus is suspected in a remote island, as the contact tracking continues
Health authorities announced on Friday that a new case of suspected hantavirus has been found in a British passenger who had been on the luxury cruise shipMV Hondius, which was hit by hantavirus. The British man is now residing on the remote South Atlantic Island of Tristan da Cunha. The UK Health Security Agency?did not?disclose any further details about the new suspected case in the British Overseas Territory where the cruise ship stopped on April 15th. Tristan da Cunha is the world's most remote inhabited island. It has only 200 inhabitants and is located halfway between South Africa, South America, and Africa. The nearest inhabited island to Tristan da Cunha can be reached by boat in six days and after travelling more than 1,500 miles. Stephen Doughty said that an islander was hospitalized and his wife had self-isolated, in a post on the local government's website. He added that four islanders had taken a ride on the Dutch flagged vessel to St Helena. Philip Kendall, the administrator of Tristan da Cunha, said that these islanders were advised to isolate themselves there as a safety precaution. The new case was still suspected. However, the precautions announced will increase concerns over the Andes strain hantavirus that was found on board the ship. This strain can in rare cases spread from one human to another. After the outbreak, three people - a Dutch family and a German national – died. Two Britons, one Dutch, and one Swiss are currently being treated at hospitals in South Africa, the Netherlands and Switzerland. According to the World Health Organization, there is a fifth suspected case. These figures do not include the suspected cases on Tristan da Cunha. World Health Organization stated that it would update the situation later on Friday. Low Risk?OF Widespread Contagation The U.S. Centers for Disease Control and Prevention have classified the hantavirus as a 'level 3 emergency response', the lowest level for emergency activation. Experts have emphasized the low likelihood of a wide-spread outbreak. However, the outbreak has brought authorities to high alert. They are urging all those who had contact with passengers that left the Hondius ship to be on the lookout for any symptoms. A number of states in the United States have stated that they monitor residents who returned home from a cruise ship with no symptoms. Singapore has isolated and tested 2 residents who were aboard a ship. NON-REPLICATION OF NEW INFECTIONS IN THE NETHERLANDS The Dutch Health Authorities announced on Friday that three?people? who were close to the Dutchwoman before she was removed from a flight in Johannesburg, on April 25, have now tested negative for this virus. The World Health Organization reported that a flight attendant was among them. She had been admitted into a hospital in Amsterdam, with symptoms of an infection. Christian Lindmeier is a spokesperson for the World Health Organization. He told reporters in Geneva, that the flight attendant was in "close contact" with the passenger, but still tested negative. He said: "That should have convinced nearly everyone that this virus is dangerous, but only for those who are infected. The risk to the general population remains very low." No SYMPTOMATIC Passengers on Board Ship Oceanwide, a cruise operator, said on Thursday that there were no passengers with symptoms of an infection on board. The ship was scheduled to dock at Tenerife on the Canary Islands on Sunday morning. The WHO said that it is working on a step-by-step guide for the passengers who remain on board the ship to disembark. The Dutch government announced on Friday that it is still working on plans for the repatriation of 10 Dutch citizens on board and that it is too early to reveal details. Foreign Affairs Minister Tom Berendsen stated that the Netherlands only had responsibility for the Dutch passengers aboard the ship sailing under Dutch flag. However, it felt responsible to ensure all passengers returned home safely.
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Senior executive says Ryanair will close Thessaloniki in Greece because of high fees
A senior executive announced on Friday that Ryanair would 'close its operating base' at?Greece’s?Thessaloniki Airport this winter due to increased fees by airport operator Fraport. Ryanair's Chief commercial officer Jason?McGuinness told reporters in Athens that there had been no progress made in talks between Fraport and the low-cost airline. Fraport has increased fees for airlines operating at some Greek airports. McGuinness stated that Fraport Greece has continued to raise charges which are 66% higher than the pre-Covid levels. He added that the combined moves would result in the loss of 700,000 flights and 12 routes throughout Greece, as well as the suspension of operations at Chania Airport and Heraklion Airports during off-peak seasons.
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Cathay will reduce fuel surcharges on airlines from May 16,
Cathay Pacific Airways, a Hong Kong-based airline, will lower fuel surcharges for most of its passenger flights starting May 16 as part of an "agile" response to the energy crisis caused by Iran's war. Fuel accounts for up to one quarter of operating costs in the aviation industry. Many airlines raised their fares, revised their financial forecasts and Cathay announced an increase in fuel surcharges in March. On Friday, the airline announced that it would 'cut fuel surcharges on long-haul flights from HK$1,560 to HK$1,362 ($25.55), while reducing'short-haul fees by HK$50 from HK$389 to HK$339 and medium-haul fees to HK$633 (from HK$725). A notice from the airline showed that the surcharge for flights between mainland China and Hong Kong will remain at HK$135. For those flying in the other direction, it will remain at HK$165. The airline stated that it would continue to review its fuel surcharges every two weeks in order to "better capture" changes in jet fuel prices in an upwards or downwards direction. Hong Kong's Transport and Logistics Authority welcomed the temporary ease, saying that it was committed to working with "local airlines" to minimize the impact on passenger capacity and cargo at Hong Kong International Airport.
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Enbridge, a Canadian gas transmission company, tops the profit estimates for its strength.
Enbridge announced a first-quarter adjusted profit that exceeded analysts' expectations on Friday. The 'pipeline operator' is able to maintain steady growth in spite of geopolitical tensions, commodity price volatility and rising demand for utility infrastructure, natural gas and power for data centers. The company reported that it added projects valued at about C$2 billion (about $1.47?billion) during the third quarter. These included the Cone wind project in Texas, expansions of the Tres Palacios, Dawn Hub, and Vector Pipeline storage facilities. The secured growth backlog of the company is now about C$40billion and will be funded by its annual investment capacity in growth capital?of C$10billion to C$11billion. Enbridge expanded its gas distribution business last year after acquiring three utilities from Dominion Energy, a U.S. company. Gas transmission earnings increased 6.6%, to C$1,57 billion. Adjusted core profits from the gas distribution and storage businesses rose 6.8%. The Aitken Creek Pipeline and BC Pipeline systems contributed to the higher revenue in its gas transmission segment. Gas distribution was supported by higher regulated prices in Ontario, Utah, and North Carolina. This helped to cushion the weaker liquids results from Mainline. Enbridge's Mainline System, which moves almost half the crude oil in the United States, saw its quarterly adjusted core profits fall 13.2% to C$1.45 Billion. According to LSEG, the Calgary-based company reported an adjusted?profit?of 98 Canadian cents a share for three months ended March 31. This was higher than analysts' average estimates of 94 Canadian dollars. Reporting by Katha Kalya in Bengaluru, editing by Pooja Deai.
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Bookings for Expedia plummet as Middle East conflict and Mexico travel advisories hit.
Expedia, the online travel agency, saw its shares drop 8% on Friday before the bell. The ongoing conflict in the Middle East and a Mexican travel advisory shaved '200 basis points?off?its quarterly room-night and booking growth. After military strikes in several countries that caused airspace closures, major transit hubs like Dubai were disrupted and airlines had to suspend their routes. Ariane Gorin, CEO of Ariane Travel Group, said that while the Middle East represents less than 2 percent of total bookings for Ariane Travel Group, traveler cancellations were higher in Europe and Asia. Travel demand to Mexico has also weakened since the February killing of a drug-lord sparked violence, triggering a U.S. shelter in place?advice for Americans. Michael Bellisario of Baird said that the combined 200-basis point headwind was more than expected. He noted that Booking Holdings, which has twice as much exposure to regional markets, also saw a similar impact. Jake Fuller, BTIG analyst, said: "We thought Expedia would be protected from disruptions in the Middle East and Mexico. But we were wrong." He said: "However Expedia continues to execute well, and this shouldn't be lost in the debate about what amounts to temporary interruptions." Airbnb reported higher cancellations on Thursday due to the conflict. They expect it to continue to be a problem later in the year. After a K-shaped market reduced?demand for mid-range and budget lodgings, a recovery in U.S. tourism has emerged as the bright spot?for both companies. Gregory Miller, a Truist analyst, said: "We're not concerned about Expedia maintaining its full-year guide. The rationale is understandable; it's driven by macro uncertainty." Expedia and Booking were both trading at lower multiples than Airbnb, which was 26.91.
Amadeus' CFO predicts a decline in air travel bookings
The Spanish travel technology company Amadeus expects bookings for air travel to decline in the second quarter due to the war in the Middle East and the airline strikes in Western Europe, said its chief financial officer on Friday.
Carol Borg, in a call with analysts after the earnings report, said: "We still believe we will continue to see negative growth in second quarter bookings." "April was better that March, but we are still in negative territory".
She added that the improvement was due to the moderation of cancellation rates, the reopening airspace in the area, and the airlines' positive comments on the?demand profiles.
Amadeus delivered stronger-than-expected results ?on Friday and maintained its ?full-year guidance despite cancellations and concerns about jet fuel shortages, although Borg said revenue growth in the high single digits would be at the lower end of that range.
Borg said that the company had implemented cost-cutting measures to better withstand impact of war in the Middle East. They will continue doing so until the situation improves.
She cited the company's 'last year's' results as an illustration of its cost discipline and resilience, 'as earnings before taxes and interest outgrew revenues.
"We can adjust our resources, especially in R&D, to maintain momentum in investing at the right times and in the right places.
(source: Reuters)