Latest News
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Ireland's Manna begins push into U.S. drone delivery "battleground"
90% of Tulsans can expect to be able order deliveries by autonomous drones within the next 12 months, said Manna on Wednesday. The company has begun a push in the American Southwest it believes will "be the battleground" for this?fast-growing sector. Executive chairman Kenny Jacobs said that the Irish-founded startup, based in Oklahoma City, will begin flying orders for partners like DoorDash, McDonald's, and Uber Eats by mid-2027. It will operate 40 bases throughout Oklahoma's second largest city. Jacobs said at the launch of the first full-scale U.S. operations. The technology has been proven. It's now about commercial scalability, and showing how quickly you can set up bases and deliver a variety of things," said the former Dublin Airport CEO and Ryanair Marketing Chief who joined Manna last week. Manna is competing with Zipline, Alphabet’s Wing, Amazon’s Prime Air, and other startups based in the U.S. It has made more than 300,000. This was primarily in Ireland, where the company recently halted its services due to a lack of national planning regulations. Jacobs does not anticipate any such obstacles in the U.S. He said that he would be 'amazed' if Manna did not expand to another U.S. city this year. Jacobs cited?other areas of Oklahoma, Texas, and Arizona, as attractive destinations. Jacobs stated that the company is able to scale rapidly at a low capital expenditure per base, given that each local launch site is not larger than four parking spaces. Jacobs said that Manna hopes to expand to?Britain in early 2028. Its plans could be to push into the Middle East, particularly the United Arab Emirates, before then. Reporting by Padraic halpin, editing by Chizu Nomiyama
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Etihad nearing deal to order 10 Boeing 787 jets, sources say
Industry sources said on Wednesday that Etihad Airways, Abu Dhabi, is "close to a deal" for the purchase of ten Boeing 787 wide body jets. An announcement could come as soon as this month at the Farnborough Airshow. Etihad declined and Boeing declined?comment. Sources warned that a deal could not be guaranteed, as negotiations continue to take place in the run-up to 'the 'July 20-24 event? in Britain. Etihad CEO Antonoaldo Neves said last month that the company was considering ordering double-digits of wide-body aircraft, but declined to provide further details. Etihad has restored flights following a?cut in March due to the increase in fuel prices caused by the 'U.S. - Israeli?war against Iran. Airbus, Europe's largest airline, said that Middle East airlines were recovering well amid the fragile ceasefire in the region. Gulf hubs are returning to normal traffic volumes. (Reporting and editing by Elaine Hardcastle, Deepa Babington, Federico Maccioni)
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Trump switches to Air Force One unexpectedly, excluding Qatari jet
On Wednesday, President Donald Trump announced that he would 'fly from Turkey to Britain on an older Air Force One. This was a surprising switch that raised concerns about the retrofitted Boeing 737 donated by Qatar as his presidential jet. He had unveiled it only a few weeks earlier. This was the first trip abroad for the new aircraft. The change comes after months of scrutiny about the luxury gift that was intended to be a temporary replacement for Air Force One while Boeing struggles to deliver its long-delayed new-generation planes. The retrofit was criticized for its cost, speed and security. Trump stated?on Truth Socialthat he will use an older Air Force One aircraft "for old times sake" to travel to RAF Mildenhall, Britain?while a newer plane visits the base to allow U.S. military personnel stationed there to tour the aircraft. The new plane, a Boeing 747, was 'gifted' to the United States last year by Qatar and refitted L3Harris Technologies. The jumbo aircraft has been painted with a livery of'red, white and dark blue, chosen by Trump. This is a departure from Air Force One's long-standing design. The acceptance of the Qatari jet had attracted scrutiny. Experts said that retrofitting this luxury jet required upgrades in security, communication improvements to prevent spying, and missile defence capabilities. The conversion, according to Democratic lawmakers, cost over $1 billion. It also posed security risks. Upgrades were made so quickly, some experts expressed concerns that the aircraft may not be as safe as Air Force One. During presidential trips, a second aircraft capable of operating as Air Force One will always be on "standby". In order to produce an interim version faster, the Air Force has accelerated its efforts to prepare the jet. Air Force Secretary Troy Meink said that the service "meticulously analyzed every requirement" as it worked to accelerate delivery. The Qatari jet?serves as a bridge while Boeing works on delivering two purpose-built 747-8s under a $3.9 Billion fixed-price contract that was signed in 2018. This program is now four years behind schedule. Delivery will not be expected until mid-2028. Trump could find himself without a new U.S. built plane by the time his term ends, in January 2029. Boeing has incurred billions in costs for the Boeing project. (Reporting and editing by Philippa Goller and Howard Goller in Washington)
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Swedish government: Sweden and Germany have signed a letter of intent regarding air defense
Sweden's defence minister said on Wednesday that the German government was interested in working with Sweden to develop new fighter jets. Pal Jonson, the Defence Minister, said that he signed a deal with Boris Pistorius at the NATO summit held in Ankara on Wednesday. Saab 'has recently rolled-out the latest version of Gripen fighter jets, which will?be used?by?the Ukrainian?airforce. Jonson stated that several European countries including Germany had expressed an interest in working with Saab. He said, "We are one of only two countries in Europe who can design, produce and create new fighter jets. We're also working with France." In June,?reported that Airbus had been looking at Sweden's Saab as a preferred partner for the future after the failure of a Franco German fighter programme. Jonson also said there could be collaboration around unmanned systems. The so-called loyal wingman program. (Reporting and editing by PhilippaFletcher, Johan Ahlander)
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Wall St. falls after Trump's Iran remarks ruffle investors; Broadcom gains
Wall Street's major indexes dropped on Wednesday, after President Donald Trump declared that an interim agreement aimed at ending a?war against Iran was "over." Broadcom led the gains among recently battered chips stocks. At the NATO summit, Trump said that he was not interested in continuing talks with Iran. He also warned that Washington would likely carry out more strikes on Wednesday evening. His remarks marked the latest setback of the back-and forth in negotiations that have oscillated between threats of escalation, and hopes for diplomacy. Investors were caught off guard by several false begins toward a peace agreement. Broadcom rose 4.2% as Apple announced it would spend over $30 billion in a chip supply agreement with the chipmaker that was reached earlier this week. Art Hogan is the chief market strategist for B. Riley Wealth. He said: "Any announcement by Apple regarding their use of your equipment is pretty positive, especially since there are 2.5 billion Apple devices in people's possession around the world." Nvidia's early losses were pared and the company turned positive following the Information report that China plans to allow its leading AI firms to purchase a limited amount of H200 chips from the company. After recent volatility, the chip stocks were mixed Wednesday with the broader Philadelphia SE Semiconductor?index falling 0.08%. The Dow Jones Industrial Average fell 774.50 points, or 1.46%, to 52150.65. The S&P 500 lost 66.94 points,?or 0.89%, to 7,437.21. And the Nasdaq Composite?lost 235.63 points (or 0.91%) at 25,584.18. At 12:04 p.m. ET, the Dow Jones Industrial Average dropped 774.50 point, or 1.45%, to 52150.65. The S&P 500 fell 66.94 point,?or 0.89 percent, to 7,437.21, and the Nasdaq composite?lost 235.63 points,?or 0.91%, at 25,584.18. Brent crude futures soared 7% on the day after Trump's remarks. Treasury yields rose as well, as the selling spread to bonds. The latest escalation of the conflict could unsettle an equities rally which has seen the benchmark S&P500 up about 9% this year despite steep declines in 2026, when the Mideast War began. The Federal Reserve may be forced to change its course if oil prices continue to rise. Except for energy and consumer staples, nine of the eleven sectors in the S&P 500 traded in the red. As oil prices rose, travel stocks that are sensitive to fuel costs and demand fell. United Airlines fell 4.4%, and Delta Air Lines?fell 3.4%. Cruise operators have also fallen, with Carnival Cruise Line down 5.1% and Norwegian Cruise Line down 4%. The Russell 2000 index of small-cap stocks fell 1.6%, to "three-week-lows". The CBOE Volatility Index (Wall Street's fear gauge) hit a record high. The last point was up 2.4 at 18.54. IMF WARNINGS IN FOCUS FED MINUTES The International Monetary Fund lowered their 2026 global growth forecast by 3% on Wednesday, warning about the ongoing risks of the Middle East war. Minutes of the Fed's?policy meetings for June are due in the afternoon. The readout may provide better insight into how policymakers assess inflation risks and economic development. In the past, the minutes tended to be less of a market mover. Hogan said, "I?think that this could be different." According to LSEG, traders are pricing in a minimum of one rate increase by the end 2026. On the NYSE and Nasdaq, declining issues outnumber advancers in a ratio of 3.6 to 1. S&P 500 & Nasdaq Composite did not post any new 52-week lows or new highs.
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Airbus sales rise by 15% in the first half to 351 units
Airbus said that it delivered 351 planes in the first half of this year, up around 15% from the 306 aircraft in the same period in 2025. The company had handed over 89 jets to customers in June. Analysts estimate that Airbus will be able to meet its full-year goal of 870 deliveries if the figures 'confirm' a previous report. On Monday, it was reported that the?largest aircraft manufacturer in the world is?increasingly?confident? of reaching a goal of 900 deliveries without changing its official guidance. Airbus has had a difficult time overcoming supply chain issues. While engine availability is improving, the first quarter's performance was impacted by earlier shortages and delays on planes headed to China. Boeing has an advantage in delivering aircraft. Airbus's delivery rates typically increase in the second half a year. In its monthly report, the Toulouse-based group?also stated that it had sold 887?aircraft between January and?June. This is a?net of 822 aircraft after adjusting cancellations. (Reporting and editing by Gianluca Nostro, Dimitri Rhodes)
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Sources say that some war insurers recommend shipowners stop Hormuz voyages following attacks.
Insurance industry sources reported that some war underwriters advised shipping companies to pause voyages across the Strait of Hormuz, while others were reviewing their policies after renewed vessel attacks threatened a return to war between Iran and the United States. Washington revoked a license allowing Iran oil sales and launched overnight strikes against Iranian targets after the attacks on Tuesday on three tankers on the crucial waterway. Donald Trump announced on Wednesday, that the interim agreement to end "the war with Iran" was "over". U.S. troops were expected to launch new attacks on Wednesday night in response to Iranian attacks against U.S. base in the Gulf. These comments caused a 5% increase in the global oil price. According to industry sources war risk insurance is usually provided seven days a week and reviewed every 24 to 48 hours. Even slight increases can result in daily costs that are hundreds of thousands of dollars higher. Sources who refused to be identified due to the sensitivity of the issue said that war insurance rates on ships in the Gulf had already risen to 3% from 2% last week. However, there were no immediate signs that the war cover was being halted. One underwriting source said, "Someone is going to cover you but at a rate of?5% or less." On Wednesday, the U.N. International Maritime Organiztion (IMO) stated that sailings through Hormuz must be avoided as long as crew safety cannot be guaranteed. IMO Secretary General Arsenio Dominguez stated?on?Wednesday that the high?costs of ship insurance were a major concern and "added to the pressure on shipowners & operators". He said that governments with influence over the insurance and reinsurance market have a role to?play in engaging with insurers so as to ensure premiums are based on current realities rather than reflecting the peak of crisis. (Reporting and editing by Jonathan Saul with The Insurer, Michael Jones)
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Trump will fly to the UK on Air Force One, but a new plane is also going to be there.
According to a posting on Truth Social, President Donald 'Trump' said on Wednesday that he would 'fly' an old Air Force One plane from Turkey to the UK "for the sake of 'old fashioned'". The new plane, given to the U.S., by Qatar, will visit the same base in Britain. Trump announced that the newly overhauled Air Force One 'will fly to RAF Mildenhall, in the United Kingdom for?U.S. Air Force One will be toured by servicemen and women stationed at RAF Mildenhall in the United Kingdom. The new plane is a Boeing 747 that was gifted by Qatar to the United States last year. It has been refurbished by L3Harris Technologies, a defense contractor. The livery of the jumbo jet has been changed to a red-white-dark blue-gold scheme chosen by Trump. This is a departure from Air Force One's iconic design. Trump wrote that "everyone is so excited" and "we thought they should be the first." He added that Air Force One, the departing aircraft, would travel from Turkey to Mildenhall 'for the sake of old times. The acceptance of the Qatari jet had attracted scrutiny. Experts said that retrofitting this luxury?plane would require security upgrades, improved communications to prevent eavesdropping and missile defense capabilities. (Reporting and editing by Philippa & Mike Fletcher in Washington)
S&P 500 drops after Trump declares Iran deal is over
Broadcom, a chip stock that has been battered recently, led the gains amongst recent battered stocks. The S&P?500 dropped on Wednesday as U.S. president Donald Trump declared an interim agreement aimed at ending?the war?with Iran to be "over." Trump, speaking at the NATO summit in?Turkey said that he was not interested in continuing talks with Iran. He also warned that Washington will likely conduct additional strikes on Wednesday evening. Trump's remarks marked the latest setback of the series of back and forth talks which have oscillated between threats of escalation, and hopes for diplomacy. Investors were left unprepared by several false begins toward a peace agreement. The key is duration. How long will this last? Rob Haworth is a senior investment strategist at U.S. Bank Wealth Management, Seattle. The market could react more strongly if we see damage done to Iranian infrastructure because of the likely retaliation from Iran. Microsoft, Amazon, and Alphabet, all AI giants, each lost more than 1%. This weighed on the S&P500. Broadcom rose 5.2% when Apple announced it would spend over $30 billion as part of an agreement with Broadcom reached this week.
Art Hogan is the chief market strategist for B. Riley Wealth. He said: "Any announcement by Apple regarding their use of your equipment is a positive thing, especially with 2.5 billion Apple devices around the world." Nvidia rose by?about 2.8% following the Information's report that China plans to allow its top AI companies to purchase a limited amount of the company’s H200 chip. The PHLX Chip Index rose 2.2% and is now up 77% by 2026. The S&P was down 0.36% to 7,477.10. The Nasdaq fell 0.08%, to 25,798.29, while the Dow Jones Industrial Average dropped 1.11%, at 52,335.24. Nine out of 11 S&P 500 indexes fell, with industrials down by 3.41% and materials dropping by 2.45%. Brent crude futures rose 5% after Trump's comments. Treasury yields rose too as the selling spread to bonds. The latest escalation of the conflict threatens to undermine the rally in equities that has seen the benchmark S&P500 up by about 9% this year despite sharp drops after the Mideast War started.
Oil prices may rise again, causing inflation concerns to resurface and complicating the path of the Federal Reserve. Travel stocks that are sensitive to energy prices fell as rising oil prices raised concerns about fuel costs and demand. United Airlines fell 2.3%, and Delta Air Lines dropped 1.9%. Cruise operators were also affected, with Carnival dropping 3.7% and Norwegian Cruise Line falling 2.1%. The International Monetary Fund lowered their '2026 global growth prediction to 3% on Wednesday, warning about the ongoing risks of the Middle East war. Minutes of the meeting showed that inflation concerns increased at the U.S. Central Bank's last month's meeting as officials 'followed Federal Reserve chairman Kevin Warsh's example to a more stripped-down statement', according to the 'Wednesday' minutes. According to CME's Fedwatch, traders expect a rate hike at the Fed's meeting in December. The S&P 500 saw a ratio of 3.3 to 1 between declining stocks and rising stocks.
(source: Reuters)