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Saluda Medical shares plummet on Australian market debut
Saluda Medical shares listed on the Australian Securities Exchange fell nearly 45% in their debut at the Australian Securities Exchange on Friday after raising A$231,000,000 ($152.67,000,000) through its initial public offer. Saluda is a U.S. medical device company that develops neuromodulation treatments to treat chronic neurological conditions. The company sold 87.1 new CHESS depositary interests at A$2.65, which valued the company at approximately A$775 millions at listing. In the first few trading minutes, the stock fell almost half its value to A$1.48. Saluda was founded in Sydney, Australia in 2010. The FDA-approved Evoke Spinal Cord Stimulation (SCS) System is a closed-loop system that uses neural biomarkers to measure and adapt therapy in real-time. Saluda made its debut after GemLife Communities Group IPO of A$750 Million in early July. This was the largest 2025 listing in Australia and surpassed Virgin Australia's A$685 Million offering at the end of June. (1 Australian dollar = 1.5131 dollars) (Reporting and editing by Alan Barona in Bengaluru)
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Irish media reported that drones were spotted near Zelenskiy's flight path from Dublin.
Local media reported that an Irish navy ship saw up to five drones near the flight path for Ukrainian President Volodymyr Zelenskiy as he arrived in Ireland on Monday to make a state visit. Irish Times reported that the sighting caused a major alert due to fears of an attempted interference with the flight path. The Irish Times cited unnamed sources who said that the aircraft was not in danger, despite its arrival a little early. The Ukrainian delegation arrived on Monday late and left late the following day, as part of an effort to drum up support for Kyiv in Europe as Russia continues its war against Ukraine. Ukrainian media reported that Dmytro Litvyn was an adviser to Zelenskiy. He said that Ukrainian officials had been informed of the drones but took no action. Lytvyn is quoted as saying "The host country is responsible for the security." According to their data there were drones. However, this did not impact the visit. There was no need to change the visit. Recent drone flights originating from unknown origins have disrupted airspace operations across Europe. Ursula von der Leyen, President of the European Commission, has called these incursions hybrid warfare. The Journal website first reported that drones were spotted at Dublin Airport. They said they arrived at the exact location where Zelenskiy’s plane had been expected to be, at the exact time it was due to pass. The authorities said they were conducting investigations to determine if the drones had taken off from a ship or landed on land. Both news outlets reported that they were first seen northeast of Dublin at a distance of around 20 km (12miles) from the airport. Ireland's Defence Forces stated that it could not comment on any specifics about any alleged incident for operational security purposes. A spokesperson stated that "However, Defence Forces Support to the Security Operation, led by An Garda Siochana, was successfully deployed through multiple means, ultimately leading to a successful and safe visit," (Reporting and editing by Timothy Heritage Ron Popeski Stephen Coates).
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CANADA CRUDE-Western Canada Select trades at steepest discounts ever since March
The difference between the West Texas Intermediate benchmark futures and Western Canada Select futures, which is North American benchmark, has narrowed slightly on Thursday. However, it remains larger than ever before. CalRock reported that WCS for Hardisty, Alberta delivery in January settled at $12.85 per barrel, which is lower than the U.S. benchmark WTI. This compares to $13 Wednesday. The WCS discount on increased Canadian oil production has recently increased after spending most of the year in historically tight levels. This is largely due to the Trans Mountain expansion pipeline which has provided additional export capacity for Canadian oil producers. According to government statistics, the oil-producing province Alberta has set a record for production in 2024 with an average of 3.98 million barrels per day. The first 10 months of the year 2025 have been 3.8% higher than the same period of last year. * Oil prices fell globally on Thursday as investors waited for the Federal Reserve's interest rate cut. Meanwhile, the stalled Ukraine talks dampened expectations that a deal would be reached to restore Russian oil supplies. (Reporting from Amanda Stephenson, Calgary; Editing done by Maju Sam)
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Brazil 2026 Budget Sponsor proposes $1.9 Billion Exclusion for State-run Firms' Fiscal Target
Gervasio maia, the Brazilian congressman who sponsored the bill on budget guidelines for 2026, proposed to exclude up to 10 billion reals ($1.9 billion) of next year's fiscal goal for state-owned enterprises. According to Maia’s amendment, this amount will cover the expenses of companies that have an active and approved economic-financial plan. The proposal gives President Luiz inacio Lula da Silveira fiscal flexibility. It comes at a time when the postal service Correios is facing a cash crisis. Last month, it approved a restructuring program as its losses soared this year. This raised doubts over the viability of state-run Correios. The company reported a loss for the year to date of 6 billion reals ($1.13 billion), nearly three times the amount reported a year ago. The government has to compensate state-owned companies when they exceed their fiscal targets. This often means freezing federal spending. This is what happened with this year's Budget, when the government in November approved it. It was necessary to offset the 3 billion reais deficit that had been expected at state-owned firms due to Correios’ troubles. Maia removed from her proposal a clause on compensation. This effectively prevents the government from implementing it in the event that state-owned companies miss their targets next year. After the bill was passed, the change to the budget proposal for 2026 was announced ahead of the joint session of the Congress on Thursday. Committee approval is expected to be made on Wednesday. Correios stated earlier this week that the Treasury Blockage It was prevented from taking out a loan of 20 billion reais (3.67 billion dollars) from a bank consortium with a guarantee from the government because the interest rates exceeded the limit for deals backed by the state. ($1 = 5.3048 reales) ($1= 5.3133 reales) (Reporting and editing by Diane Craft; Marcela Ayres)
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Irish media reported that drones were spotted near Zelenskiy's flight path from Dublin.
Local media reported that an Irish navy ship saw up to five drones near the flight path for Ukrainian President Volodymyr Zelenskiy as he arrived in Ireland on Monday to make a state visit. Irish Times reported that the sighting caused a major alert due to fears of an attempted interference with the flight path. The Irish Times cited unnamed sources who said that the aircraft was not in danger, despite its arrival a little early. The Ukrainian delegation arrived on Monday late and left late the following day, as part of an effort to drum up support for Kyiv in Europe as Russia continues its war against Ukraine. Recent drone flights in Europe have disrupted airspace operations. Their origin is mostly unknown. Ursula von der Leyen, President of the European Commission, has called these incursions hybrid warfare. The Journal website first reported that drones were spotted at Dublin Airport. They said they arrived at the exact location where Zelenskiy’s plane had been expected to be, at the exact time it was due to pass. The authorities said they were conducting investigations to determine if the drones had taken off from a ship or landed on land. Both news outlets reported that they were first seen northeast of Dublin at a distance of around 20 km (12miles) from the airport. Ireland's Defence Forces stated that it could not comment on any specifics about any alleged incident for operational security purposes. A spokesperson stated that "however, the Defence Forces' support to An Garda Siochana's (police) security operation was successfully deployed by multiple means, ultimately leading to a successful and safe visit,"
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US investigations report that Waymo's self-driving car illegally passed 19 school buses in Texas
The U.S. government said Thursday that it had asked Waymo for more information after Texas officials claimed that Alphabet's self-driving cars had passed school buses illegally 19 times since the beginning of the school year. In October, the National Highway Traffic Safety Administration launched an investigation after an incident that occurred in Georgia. A Waymo was not stationary as it approached a school bus while its red lights were flashing and its stop arm was deployed. The Austin Independent School District posted a letter on November 20, 2018 by the NHTSA. In the letter, they stated that five incidents had occurred in November following the announcement from Waymo that it had updated its software to fix the problem. They asked the company not to operate around schools at pick-up or drop-off hours until it was able to ensure the vehicles wouldn't violate the law. Waymo didn't immediately respond to an inquiry for comment. A lawyer for the district wrote: "We cannot let Waymo continue to endanger our students as it tries to fix the problem." Citing an incident in which a Waymo was "recorded" driving past a school bus that had stopped only moments after the student who crossed in front, while still on the road, had been in front of the vehicle. A spokesperson for the school district did not respond immediately to whether Waymo had met this request. NHTSA was prompted by the letter to ask Waymo if it would comply to the request that self-driving vehicles cease operations during pick-up or drop-off hours for students. They also asked: "Was a software fix developed or implemented to mitigate this concern?" If so, will Waymo file a recall to fix the problem? In a letter sent to Waymo by the NHTSA on Wednesday, it demanded answers to questions about school bus incidents and software updates that address safety concerns. David Shepardson is reporting.
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US investigations report that Waymo's self-driving car illegally passed 19 school buses in Texas
The U.S. government said on Thursday that it had asked Waymo for more information after Texas officials claimed that Alphabet's self-driving cars had passed school buses illegally 19 times since the beginning of the school year. In October, the National Highway Traffic Safety Administration launched an investigation after a Georgia incident where a Waymo failed to remain stationary as it approached a school bus that had its red lights flashing with a stop arm deployed. In a letter published by NHTSA on Nov. 20, the Austin Independent Schools District stated that five incidents had occurred in November, after Waymo claimed to have made software updates to fix the problem. The district asked the company to stop operations near schools at pick-up or drop-off hours until it could be ensured the vehicles wouldn't violate the law. Waymo didn't immediately respond to an inquiry for comment. David Shepardson reports.
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Sources: Deutsche Bahn will return to profitability this year and next.
According to sources close the company, Deutsche Bahn will return to profitability this year and next, despite its underinvestment in trains and delays. After more than a decade underinvestment by the state-owned Deutsche Bahn, it has begun upgrading its tracks and overhead lines, as well as cutting administrative costs. This has led to major delays and cancellations across the country. Positive outlook is also a result of CEO Evelyn Palla's task to turn the company around. She took over on October 1. Palla will present her restructuring plan for the company at a meeting of the supervisory board scheduled to take place on Wednesday. Significant job cuts are expected. Deutsche Bahn has declined to comment. Sources said that the company expects a slightly positive profit before interest and tax (EBIT) in 2025 after a loss last year of 388 million euros. EBIT is expected to reach 500 million euros by 2026. The German Bahn also aims at reducing its net loss from 820 million euros to 180 million next year. Revenues are expected to stay stable, around 28 billion euro next year.
Southeast Asia's intense gas demand outlook may dissatisfy: Maguire
Southeast Asia is quick becoming an essential development market for natural gas, and on paper has an aggressive advancement pipeline for gasfired power stations that if completed would guarantee the region would be a. significant gas consumer for years.
Southeast Asia is also among the fastest growing. locations for shipments of liquefied gas (LNG). Overall. LNG volumes to the area have more than doubled considering that 2019,. outpacing all other crucial markets, according to Kpler.
But gas bulls must be wary about how much of Southeast. Asia's proposed gas power advancement pipeline stays stuck in. the planned phase, as only around 6% of the area's revealed. power tasks are presently under building.
The rest are still only planned on paper, therefore stay. at threat of potential delay or cancellation if power sector or. government concerns change to alternate power sources.
And the danger of deep cuts to gas-fired capacity plans is. high, as clean energy capacity development has grown at 3. times the speed of gas-fired capability considering that 2018, and has. just recently exceeded local gas capacity for the very first time.
Steadily increasing clean generation capability is in turn requiring. energy system organizers to evaluate the generation requirements. from remaining system parts, placing possibly expensive and. long-duration advancement projects in jeopardy.
BIG PLANS
Near 100,000 megawatts of gas-fired power generation is. either already under building or has actually been revealed across. Southeast Asia, according to Global Energy Screen (GEM).
That total is the third-highest for all areas behind. Eastern Asia, which includes China, and Western Asia, which. includes the Middle East, GEM data shows.
Of that prepared total, only around 12,600 MW is currently. under building and construction, while almost 87,000 MW is categorized as. being in pre-development.
The region has around 109,000 GW of gas-fired capability in. operation, which positions Southeast Asia seventh out of 15 regions. tracked by GEM in terms of operational gas capacity.
But if all of Southeast Asia's pre-development gas strategies. pertained to fulfillment, the region would leap to fourth on the global. gas power capacity table, and for that reason emerge as a considerable. player in worldwide gas markets.
CAPABILITY FLUX
The scale and pace of any area's power sector capacity. advancement is constantly in flux and identified by a slew of. aspects including the economics of each job, the level of. federal government aid for developers and the cost of debt financing.
All of those factors can change over the course of a. prepared advancement project and indicate that information trackers such as. GEM regularly revise projections.
Gas-fired capability requirements are likewise determined by the. power generation mix within each country, which is also changing. at a much faster speed than many large-scale energy developers can. stay up to date with.
For some designers of fossil-fuel fired plants, the. speedier emergence of tidy energy tasks that can generate an. equal or greater amount of low-emissions power could result in. their proposed tasks ending up being surplus to requirements before. they can even be developed.
CLEAN GROWTH
For Southeast Asia's gas power plant developers, the quick. build-out of tidy electrical energy generation capability over the past. five years is undermining the demand case for significant rises to. generation capability from nonrenewable fuel sources.
In between 2018 and 2023, gas-fired generation capacity within. the Association of Southeast Asian Nations (ASEAN) member. countries increased by 16% to approximately 103 GW, according to. energy think tank Cinder.
That growth pushed local gas capacity to a record, but. faster capability growth by other power sources resulted in a fall in. gas' share of local electricity capability to a record. low 31% in 2023, from 37% in 2018.
Over the same duration, clean energy generation capacity. throughout ASEAN increased by 63% to 105 GW.
That suggests local clean capacity was currently higher than. regional gas capability in 2015, and keeps growing as more solar. and wind energy jobs come online at a much faster clip than. new gas-fired capacity.
COUNTRY RISK
The development rate of tidy generation capacity has actually been. particularly fast within Vietnam, which is likewise the country with. the highest proportion of prepared gas-fired capacity in. Southeast Asia.
Of all the announced gas-fired capability plans in Southeast. Asia, roughly half is slated to be built in Vietnam, GEM information. shows.
But Vietnam is likewise a leading tidy energy capability home builder,. which is altering the extent of the nation's gas-fired requirements.
From 2018 to 2023, Vietnam's tidy electrical energy generation. capacity jumped by 146% to 46 GW.
Over the very same duration, Vietnam's gas-fired capability remained. flat at 8.15 GW and resulted in gas capacity being up to just 10%. of overall electrical energy generation capacity in the country.
That gas share compares to 18% in 2018 and 38% in 2010, and. suggests that gas-fired power has currently been steadily. ejected of Vietnam's generation mix while renewables and. hydropower have actually taken on greater systemic value.
Vietnam's power producers have also broadened coal-fired. capacity to tape highs recently in order to keep. general energy expenses in check and boost electricity materials.
The roughly 27 GW of coal-fired capability in place in Vietnam. means that nonrenewable fuel sources currently represent an approximately 43% share. of total generation capability in the nation.
Any further expansions in fossil-fired capacity - even from. cleaner-burning natural gas - would be at chances with the. country's stated target of net no power emissions by 2050.
In addition, a recent price cap set by the federal government on. power generated from LNG imports is likewise anticipated to slow. financial investments in LNG import terminals in the country, which remain. exposed to swings in international LNG prices no matter. domestic power price limits.
That leaves the nation's aspiring gas-fired power. designers at risk of dissatisfaction.
Some outdated coal-fired plants can be replaced by gas. plants, which would assist a few of the proposed tasks cross the. goal.
But at this phase the full completion of all prepared. gas-fired tasks in Vietnam appears not likely, and suggests that. job designers may need to cut back on gas capacity. building price quotes for the entire region. << The viewpoints expressed here are those of the author, a. columnist .>
(source: Reuters)