Latest News
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Beumer sues EU antitrust regulators over Vanderlande, Siemens deal, court filing shows
A court filing seen by revealed that the German logistics group Beumer Group has taken EU antitrust regulators 'to 'court' for refusing to investigate Dutch rival Vanderlandes' acquisition of Siemens' airport logistic 'unit'. Beumer was concerned when Siemens announced the EUR300m ($341.31m) deal with Dutch luggage conveyor belts and package-sorting systems Vanderlande owned by Japan's Toyota Industries two years ago. In March of this year, Vanderlande asked regulators in Portugal & Spain to approve the deal. These?countries and Italy then asked the European Commission (EC) to take on the case. In May, the EU's competition enforcer rejected these requests. The Commission stated that the requests were not "appropriate" for the EU, as the deal has been in place 'for more than one year. The Commission said that Portugal and Spain must continue to investigate the case as national agencies are regularly scrutinising the market. Beumer argued in court that the Commission had erred by failing to evaluate the deal. The company urged the court to void its decision. The Commission does not have the discretion to deny a request for a referral when it is obvious, on the basis of objective criteria that the national competition authorities (NCAs), who are requesting the referral, will be unable to effectively review the concentration. This was stated in the July 17 filing. Beumer stated that the EU's decision was also based upon criteria that were not legally relevant. A spokesperson for the Commission said, "As always, the Commission is?ready to defend its decisions in Court." The General Court in Luxembourg usually takes several years to hear a case.
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US strikes Iran from the south to the north after Trump's threats about Red Sea shipping
U.S. rockets?hit targets in Iran on Friday, after President Donald Trump promised "major punishment" to Tehran and its Houthi ally in Yemen for extending Middle East war into a'second major shipping chokepoint at the mouth of Red Sea. The 'Iranian Armed Forces' responded two weeks after an interim ceasefire meant to end war collapsed by firing on U.S. bases and warning the people of neighbouring Arab nations that they could strike non-military structures used by U.S. personnel. The Houthis who control the northern and western parts of Yemen have announced a blockade of Saudi Arabia. Saudi Arabia has diverted millions of barrels of crude oil per day via pipeline to the Red Sea in order to avoid Iran's nearly total blockade of Strait of Hormuz. The Gulf entrance has been the focal point of a conflict that has claimed thousands of lives in less than five months. It has also stoked inflation worldwide and raised fears of an economic recession. PAKISTAN EXPLORING WAY FOR TALKS SOURCES SAY On Thursday, Houthi fighters attacked two Saudi tankers in the Bab el Mandeb Strait of the Red Sea. Oil prices rose 7% and reached $100 per barrel for first time since last May. Brent futures had fallen more than $4 by 1600 GMT Friday to just over $96. Sources say Pakistan is exploring a way to re-start the stalled talks that have been halted between the U.S.A. and Iran about ending the war. This follows a Chinese push. Three Pakistani sources said that Eskandar Mumeni, Iran's interior minister, visited Islamabad in this week and had exploratory talks. This was his second visit to Islamabad within the past 10 days. Three Pakistani sources said that there were still many obstacles to any possible talks with the U.S. TANKERS RETRAIT, SHIPPING INSURANCES GO UP Meanwhile the Houthi attack forced other tankers turn around and head to the north through the Suez Canal. This could be a longer route for reaching Asia by "sailing" around Africa. Sources said that shipping insurance costs in the southern Red Sea nearly doubled on Thursday for some companies. Despite this, two Chinese'supertankers' and half of the 18 ships that left Bab el-Mandeb Thursday carried crude oil. On Thursday, there was only one tanker that crossed the Strait of 'Hormuz. This is the lowest number since May 7. In a telephone call, the Iranian and Omani Foreign Ministers discussed maritime navigation and security in the Strait of Hormuz between the two nations. A statement posted on the Telegram channel of Iranian Foreign Minister Abbas Araqchi said that the conversation took place during the phone call. IRAN THREATENS THE U.S. FORCES Trump stated on social media that Iran would be held accountable for any future attacks by Yemeni fighters. "And major military punishment will also be inflicted against Iran and of course the Houthis themselves." He told Axios that he would consider relaunching a major war against Iran. The U.S. media outlet reported him saying, "They haven’t received enough pain." The Iranian Health Ministry said in a statement to X that 59 people have been killed and 666 injured since the resumption clashes between U.S. troops late June. Iranian media reported that the head of Iran’s top joint command said Iran would kill one member of U.S. military forces for each Iranian killed. The war has resulted in the death of 18 U.S. military personnel. The Pentagon announced on Monday that since July 7, 100 servicemen had been injured. 96% of them have returned to work. U.S. WARNS CITIZENS? IN MIDEAST TO EXERCISE CAUTION Iranian officials claimed that they had targeted U.S. military equipment at Camp Buehring in Kuwait's north, as well as the positions of U.S. soldiers at Camp Arifjan, near Kuwait City, and Camp Doha. Kuwait announced in the early evening that its air defences intercepted "hostile" Iranian targets. Iran's Revolutionary Guards claimed they had damaged a U.S. Fifth Fleet surveillance tower in Bahrain. The group also claimed that they attacked a U.S. fighter jet and barracks in Jordan. According to the semiofficial Tasnim News Agency, they also attacked a barracks, spy balloon and Patriot air defences at Erbil in Iraq’s Kurdish Region. State TV reported that Jordan's army had destroyed?seven Iranian rockets and six drones. The attack caused no damage or injuries. U.S. Embassy in Baghdad warned U.S. citizens to remain vigilant and exercise caution in the Middle East. U.S. MISSILES HIT GUARDS HQ - MEDIA According to an Iranian media report, U.S. missiles have 'hit a Revolutionary Guards Navy HQ in the Ziba Kenar region?of Gilan province on the Caspian Sea. According to the ILNA, provincial authorities confirmed that U.S. missiles also hit the port city Bandar Anzali. IRIB, the Iranian state broadcaster, reported that four people had been killed and five others injured by an attack launched by the United States on Ahvaz. The Revolutionary Guards issued a warning to the people of Gulf states in a statement published by Iran's Fars News Agency. They warned them of possible attacks against U.S. military personnel, who could be using "buildings and cities as locations for their crimes".
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Five UK police officers are injured after a boat hits a bridge in London
The Metropolitan Police said that five British officers were injured when a boat hit the Westminster Bridge in central London on Friday. Police said that the vessel from the Met's Marine Policing Unit hit the bridge around 1440 GMT. The police said that "a number of officers" had entered the water but were rescued by additional police and other emergency services. The police statement stated that "we understand five officers were injured and are being treated." "We are awaiting an update regarding the extent of their injuries." The statement said that it didn't believe any public members were injured or involved in the incident and that the circumstances would be "thoroughly examined". Crowds of onlookers watched the incident from the bridge. Port of London Authority said it was also supporting the response. (Reporting and editing by Michael Holden; Sam Tabahriti, Kate Holton)
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Trump warns China and Russia against involvement in Iran War
Donald Trump, the U.S. president, said on Friday that he doesn't believe China or Russia is "participating." He warned them however that it would be "very bad" for them if they got involved. He wrote: "President Xi told me at our meeting in Beijing that he wouldn't, under any?circumstances?, sell or give weapons to the Islamic Republic of Iran -?and that statement included Chinese Companies" on Truth?Social. Trump claimed that Putin told him he wouldn't sell weapons to Iran, and that he thought Russia and China weren't involved in the Iran conflict. Trump wrote: "If they did it, that would be bad for them - certainly not in their best interest." Since February of this year, the United States and Iran are at war. This is because Israel and the U.S. launched attacks that killed senior Iranian officials including Iran's supreme leader. U.S. Intelligence sources told four people that the CIA's earlier Gulf War strikes on Iranian targets had prompted the U.S. Intelligence is investigating whether Russia has been assisting Iran in the use of drones or targeting information. The Kremlin declined to comment on Thursday's?report. The United States has sanctioned Russian and Chinese individuals and companies for helping Iran purchase weapons. Jasper Ward, Washington reporter; Michelle Nichols, editor
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GL Group acquires US oil and gas assets for the first time in Azerbaijan
Azerbaijani energy company GL Group has purchased oil and gas assets in Texas. The company is now the full operator of the four fields. This was the first deal like this for the former Soviet nation. More than 200 wells are included in the assets located near Midland, Permian basin. GL Group headed by Asif Zeynalov did not reveal the value of the transaction,?the reserves or current production. The company stated that the transaction made them 'the first Azerbaijani firm to own and operate upstream oil and gas assets within the United States. The acquisition is part GL Group’s strategy to expand upstream business beyond Azerbaijan. The group's first international investment was made in 2024 when it acquired a 25% stake of Gazelle Energy Limited in Canada, which has a?gas licence in Turkey's Thrace?Basin. The GL Group operates five oil and natural gas fields in Azerbaijan via Salyan Oil Limited?and Taghiyev Operating Company. Separately GL 'Group announced that it had signed a 5-year service agreement with U.S. oilfield services company Baker Hughes. Both companies stated that the agreement covered?operational assistance, technical expertise, and access to oil & gas technologies. (Reporting and editing by Emelia Sithole Matarise; Nailia Bagirova)
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NextEra CEO: We have secured full ownership of the Iowa nuclear plant that is being restarted to power Google data centers.
NextEra Energy CEO John Ketchum announced on Friday that the company has acquired sole ownership of a closed 'nuclear?power?plant? in Iowa, which is being restarted to supply Google data centres. NextEra has acquired the remaining 30% of a minority stake in a Duane Arnold Nuclear Power Plant from two rural utilities. This acquisition took place roughly nine months after NextEra announced its intention to resume operations at the plant. The soaring demand for?electricity in the United States -- fueled by Big Tech's expansion of data centers -- has led to multiple attempts to restart closed nuclear reactors across the country. Constellation Energy, a nuclear power 'plant in Pennsylvania, is re-starting with the help of a Microsoft power purchase agreement. No fully closed reactor has yet been resurrected to produce commercial electricity. Ketchum said on a conference call with investors that his company is on track to produce electricity from the plant by early 2020.
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Freeport LNG will take more natgas Friday, after the unit closed on Thursday. LSEG data
Freeport LNG’s export plant in Texas 'was on track to receive more 'natural gas?on Friday, after one of the three?liquefaction?trains shut -down?on Thursday. Freeport's liquefied gas export plant is closely watched around the globe because its shutdown and restart caused huge price swings on global gas markets. U.S. Gas prices tend to rise when Freeport's liquefaction trains restart. This is because demand for fuel at the plant increases. This is what has happened on Friday so far with?U.S. Gas futures are up by?around 1 percent due to increased feedgas for Freeport. Freeport informed Texas environmental regulators that Train 1 had shut down on Thursday because of a problem with a compression system. LSEG data indicated that the gas flow?to Freeport was on track to increase to 1.3 billion cubic feet per day (bcfd), up from 0.9 bcfd, on Friday. Freeport has been pulling in an average of 1.0 bcfd since July 10 during the maintenance work that is expected to last until late August. Freeport's three liquefaction trains are capable of converting about 2.4 billion cubic feet per day of gas to LNG. A?billion cubic foot of?gas can supply about 5 million U.S. households for one day. (Reporting from Anjana Anil, Bengaluru; and Scott DiSavino, New York. Editing by Nick Zieminski & Nie Williams.)
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Suicide bombing in Pakistan kills 15, including 12 soldiers, army says
The military reported that Islamist militants drove an explosive-laden car into a Pakistani checkpoint in the northwest of Pakistan, killing 15 people. The post was jointly manned by military and police. It was attacked overnight between Thursday and Friday, in the Tank District near the Afghan border. This area has been home to islamist militants for many years. In recent months, the level of militancy in northwest Pakistan has increased dramatically. According to the statement from the military, the army engaged the'militants' who, after failing to breach security at the checkpoint, drove the vehicle laden with explosives into its outer wall. According to a press release, local Taliban militants also known as Tehreek e-Taliban, Pakistan claimed responsibility for the attacks, claiming that four suicide bombers were involved. Since '2007, the Taliban has waged a war on the Pakistani government in an effort to overthrow it and replace it with their brand of strict Islamic rule. Islamabad claims that militants are using'safe havens' in Afghanistan to plan and train attacks in Pakistan. Kabul strongly denies this claim. Afghanistan claims that militancy is a problem in Pakistan. Reporting by Saud Mahsud for 'Dera Ismail, Pakistan and Mushtaq in Peshawar. Writing and editing by Asif Jamkhandikar and Shilpa jamkhandikar.
AI is a talent drain, and the aerospace industry has to compete for recruits.
Hassan Butt was a 17-year old British student who volunteered at the Farnborough Airshow in this week. For him, nothing was cooler than watching the planes and pondering the physics behind what kept them airborne.
He said, as he answered questions from passersby. He wanted to be an aerospace engineer and focus on missiles.
There was no shortage in the hall of displays, stalls, and recruitment campaigns aimed at capturing his enthusiasm and luring him along with other potential recruits.
Butt was the perfect candidate. But industry bodies and businesses said that there weren't enough people like him. The UK aerospace sector faces a shortage of 10,000 specialized engineers every year, with AI and other newer technologies stealing talent.
In Britain, more than half of the licensed aerospace engineers are over 50 years old; less than 10% are younger than 30. This was revealed in a report released by the Royal Aeronautical Society. ADS, a trade group, said that the UK aerospace sector grew 31% over the past decade but that the talent pipeline had not kept up.
Kevin Craven said, "we in the aerospace industry are experiencing a shortage of skilled employees for quite some time... despite industry growth year-on-year for the last 10 years."
He said that innovations such as flying taxis and sustainability can help younger engineers to sign up.
RECRUITING RESOURCES ARE ATTRATED BY CONTESTS AND TOP-GUN DISPLAYS
Sector faces record backlog of orders. Boeing and Airbus, two of the world's largest aerospace companies, are trying to produce more planes but their engineers are nearing retirement.
In an effort to save money, many companies in this sector have scrapped their feeder apprenticeship programs that supported longer-term career paths a few short years ago. These have been largely replaced by entry level jobs or graduate programmes, which are often promoted by stalls and campaigns at the event this week.
Other activities at the show included engine building exercises and Top Gun style flying displays. All of these were designed to attract young recruits.
It is a fierce competition to get them. Experts say that other sectors with similar engineering requirements have a lower barrier to entry, and pay higher salaries.
Jerrold Lundquist is a consultant and managing director at The Lundquist 'Group.
The UK government hopes that renewed defence investment, linked to the war in Ukraine can boost the appeal of joining this sector as it develops drones like BAE Systems Brontanax.
ADS reported that the aerospace, defense and security sector added $62,4 billion to the UK's economy in 2012.
Molly Haydon was a?17 year old at the event and she wanted to participate just as much as Hassan Butt. She said that'more needs to be done to attract students and young women like herself outside the airshow.
She said, "I believe they need to educate young people about it and get them more aware that there are still plenty of jobs available in this sector for everyone."
(source: Reuters)