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NTSB raises questions on driver assistance systems, lack of regulations
The National Transportation Safety Board criticized on Tuesday the lack of regulations by government on driver assistance systems and raised concerns about claims made by automakers. The 'NTSB' is holding an hearing to determine probable cause for two fatal crashes that involved Ford Motors BlueCruise, a hands-free advanced driving assistance system. Thomas Chapman, NTSB member and board member, expressed his disappointment with the National Highway Traffic Safety Administration. He said that the agency had shown "a lack of leadership" by failing to address the issues surrounding the deployments of driver assistance systems. The 2024 rear-end accidents involved Ford Mustang Mach-Es of the 2022 model, operating in the partial 'automation mode. NTSB members have repeatedly asked if sufficient safeguards were included in driver assistance systems that perform some tasks, but require drivers be attentive and prepared to take over other tasks. Jennifer Homendy, chair of the NTSB, said that automakers should be cautious about making claims about automation as the solution for the deaths that occur on US roads. roads. Homendy added that "humans are not well-suited to automate monitoring tasks, and they can easily become complacent." In a perfect scenario, the (NHTSA), would establish minimum performance standards for safety technologies. NHTSA has not yet commented. Both the 'NTSB' and the 'NHTSA" have been investigating BlueCruise since 2025 to answer questions about the system limitations, and to assess drivers’ ability to respond. Ford claims BlueCruise, an advanced hands-free?system, operates on 97% U.S. highways and Canadian highways without intersections or traffic lights. In recent years, the NTSB has opened several investigations into advanced driver assistance technologies. This includes Tesla's Autopilot. Tesla, the electric car manufacturer, agreed in December 2023 to recall 2,000,000 vehicles and install new safety measures for its Autopilot driver-assistance system. (Reporting and editing by David Shepardson)
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War Risks Insurers Win Appeal on UK Ruling on Jets Lost in Russia
Chubb, Fidelis, and Lloyd's have been granted permission to appeal a London Court ruling in favour of the world's largest aircraft?leaser AerCap regarding jets that are stuck in Russia due to its war against Ukraine. London's High Court decided in June that AerCap could recover just under $1 billion from "war risk insurers", though that was less than what it sought to recover of roughly $2 billion. After the court heard one of the largest insurance disputes ever heard in London, the court ruled in favor of leasing companies. The appeal hearing is expected to last five days. The lawsuit was centered on?almost 150 jets and engines with a value up to $4.7 billion. However, settlements, including the one made during the first day of the trial in October 2024, whittled down the number. AerCap, Dubai Aerospace Enterprise (also known as DAE), Merx Aviation, KDAC Aviation Finance, Falcon, and Genesis were the main claimants against insurers such as AIG, Lloyd's, Chubb, and Swiss Re. KDAC settled all of its claims during the trial. AerCap and DAE, as well as other lessors, have disclosed settlements periodically. (Reporting and editing by Barbara Lewis; Sam Tobin)
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Due to operational restrictions, renewable energy producers in Brazil have reduced their operations.
Companies have reported that Brazil's renewable sector is experiencing severe headwinds. Major?power generators are scaling back their operations and cutting jobs because of generation restrictions imposed by the?national grid operator on wind and solar power plants in 2023. Atlas Renewable Energy owned by Global Infrastructure Partners under BlackRock and Newave Energia co-owned with Gerdau as well as French company Voltalia are some of the companies that have adjusted their operations to ensure financial stability. No one has revealed the number of layoffs, but they have confirmed that changes are being made to adapt to the market's challenges. The crisis is a crucial moment for Brazil's solar and wind sectors. These sectors have grown to be important pillars in the country's electrical matrix. The country has been able to consume more clean power and protect itself from disruptions in supply when external shocks such as the war with Iran affect the availability of fossil-fuels used in the production of electricity. The National Electric System Operator began limiting the output of solar and wind power stations more severely after a 2023 power outage. These restrictions, which do not regulate battery storage for integration with power stations, have resulted in significant financial losses. Some plants were forced to stop production altogether. Atlas Renewable Energy reported revenue loss of approximately 25% at certain facilities. Manoel André, the vice president of regulatory affairs for the company in Brazil, said, "You build your business on a certain volume of energy and then you find it impossible to achieve." Voltalia has announced plans to cut its global workforce by almost 10%, including Brazil, in order to undergo a wider?transformation. The company said that new investments in Brazil depend on regulatory stability and?long-term returns. Newave Energia recently?launched a solar project at Goias and stressed the importance of efficiency and resource optimization in the face of the volatile climate. The outlook for the broader sector remains bleak. Manufacturers such as GE have shut down their operations and companies like Acciona are exiting Brazilian renewables by 2024. Atlas, along with other companies, such as France's Engie and others, have stopped new investment in solar projects. The companies say that the biggest problem is the lack of clarity regarding potential 'compensation. Congress passed a bill last year that?ordered the reimbursement of a part of the outstanding loss, but only retroactively. The law needs to be regulated. Government efforts to address challenges such as transmission upgrades and possible battery storage auctions are still in the early stages. Leticia Fucuchima reported, and Manuela Andreoni edited, David Gregorio, Andrea Ricci, and Andrea Ricci.
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Spiegel reports that Lufthansa is considering grounding 40 planes because of the Iran war.
The escalation of the Middle East conflict has led to an employee meeting, reported the Spiegel newspaper on Tuesday. The Handelsblatt had initially reported that the airline group considered 'grounding 20 planes earlier on Tuesday. It also cited a'meeting of employees. Spiegel reported that this was a?part of two crisis management packages. Spiegel reported that in the event of further escalation of the conflict, a second package of possible measures would be to ground 40 aircraft. This would amount to a?loss of capacity of around 5%. Spohr told Spiegel that no decision has been taken yet but admitted the 4% capacity growth planned for 2026 is 'likely not realistic. Lufthansa refused to comment.
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Brazilian Petrobras will increase jet fuel prices by up to 55%, according to airline reports
Abra Group, which owns the airline Gol in Brazil, announced on Tuesday that Petrobras, the state-owned oil firm, will increase jet fuel prices starting April 1 by approximately?55%. The move follows a rise in global oil prices linked to the U.S./Israeli war against Iran. It could put pressure on Brazil's airline sector just as Gol and Azul are recovering from debt restructurings. Petrobras, the world's largest oil company and the one responsible for the majority of refinery activity in South America, is responsible for the bulk of the airline operating costs. The oil giant adjusts the jet fuel price at the start of every month, based on factors such as global oil prices or foreign exchange rates. Petrobras didn't immediately respond to an inquiry for comment. HIGHER FARE The Middle East conflict has caused a'surge in jet-fuel prices, which has forced airlines to increase fares and reassess their financial forecasts. Abra's Chief Financial Officer Manuel Irarrazaval stated that Petrobras will increase prices in April, but that it would be "moderate", compared to the global price surge. He added that Abra's monthly pricing strategy helps airlines control costs. He acknowledged, however, that Abra (which also controls Colombia's Avianca) needs to increase prices by around 10% for each $1 per gallon increase in jet fuel prices. Last week, Azul announced that it would reduce its capacity domestically by 1% to offset higher fuel prices. GOVERNMENT RESPONSE The newspaper Folha de S.Paulo announced on Monday that the Brazilian government will announce a package?of?measures?to soften the impact on local carriers of 'higher oil prices,? including a credit line to purchase fuel and tax reductions. The Brazilian Ports and Airports Ministry didn't immediately respond to an inquiry for comment.
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How many ships were attacked in the Gulf after the start of Iran War?
The Iran War has disrupted the global trade via the Strait of Hormuz. This vital waterway is normally used by a fifth of all?oil & liquefied gas in the world. Iran's Revolutionary Guards warned that vessels passing through the narrow Strait would be "targeted" after the U.S. launched attacks on the country on 28 February. Here is a list with reported attacks. MARK 1 V.Ships, the manager of V.Ships, said that a crew member died on the Marshall Islands flagged crude tanker MKD VYOM after it was struck by a projectile while the vessel was sailing off the coast of 'Oman', about 50 nautical miles north from the capital Muscat. A projectile struck the oil bunkering tanker Hercules Star of Gibraltar, which supplies fuel for ships. It was located 17 nautical miles northwest of UAE Mina Saqr, in Ras Al Khaimah. UKMTO reported that the fire started by the attack has been extinguished. Two nautical miles north of Kumzar, Oman, a tanker with a Palau flag was attacked. Oman's maritime centre reported that the crew of U.S. sanctioned Skylight has been evacuated. MARCH 2, 2019 UKMTO reported that the U.S. flagged products tanker Stena Imperative, was struck by two projectiles while in Bahrain's port, resulting in an explosion and evacuation of the crew. MARCH 3, 2019 Marshall Islands - The crude oil tanker Libra Trader, and Panama flagged bulker Gold Oak both suffered minor damage 7-10 nm from the UAE port of Fujairah. MARK 4 A projectile damaged the container ship Safeen Prestige, which was sailing towards the top Strait two nautical miles north from Oman. According to shipping sources, the attack caused an engine room fire and forced its crew to abandon ship. MARCH 5, 2019 Sonangol Marine Services, the U.S. representative of Sonangol Marine Services, reported that the Sonangol 'Namibe' crude oil tanker was damaged by an explosion while it was anchored in Iraq near Khor al Zubair Port. Two Iraqi port security sources have reported that an Iranian remote-controlled boat loaded with explosives was used by the Iranians to damage and target the Bahamas-flagged vessel. March 6 UKMTO reported that a tugboat, operating with the vessel Safeen Prestige which was struck by projectiles on March 4, was hit while performing operations. 7 MARCH UKMTO reported, citing an unnamed third party, a possible attack by drone 10 nm from Saudi Arabia's Jubail. The majority of the crew were evacuated, it said. 11 MARCH A projectile struck the Thailand-flagged bulk ship Mayuree Naree in the Strait 11 nautical miles north of Oman. A fire broke out on board and prompted the crew to evacuate, the vessel's owner, Bangkok-headquartered Precious Shipping, said in a statement. The container ship One Majesty, flying the flag of Japan, sustained minor damages after being hit by a missile 25 nautical miles northwest of Ras Al Khaimah in the UAE. Vanguard, a maritime risk management firm, reported that the hull of Star Gwyneth, a bulk carrier flying the Marshall Islands flag and based in Dubai was damaged by a projectile after it struck her 50 nautical miles to the northwest. UKMTO reported that there was no environmental impact and the crew were safe. According to state media and port officials, two fuel tankers, the Marshall Islands flagged Safesea Vishnu, and the Maltese flagged Zefyros were attacked near Iraq in the Gulf. This prompted Iraq's oil terminals to stop all operations. A port security official reported that the body of an?external crew member' was recovered in the water. MARS 12 Hapag-Lloyd, a German shipping company, said that projectile fragments hit the Liberia-flagged vessel "Source Blessing" near the Strait of Hormuz. The fire was put out on the ship chartered by Danish shipping group Maersk but all crew were unharmed. 17 MARCH A projectile hit a tanker flying the Kuwaiti flag 23 nm to the east of Fujairah in the UAE, causing structural damage. The liquefied oil tanker Gas Al Ahmadiah was hit, according to maritime security sources. 19 MARCH UKMTO reported that an unknown projectile hit a vessel 4 nm to the east of Qatar’s Ras Laffan. Iranian aerial attacks have caused extensive damage to the complex, which is home of the largest gas plant in the world. All crew members were safe. 22 MARCH UKMTO reported that an unknown projectile hit a vessel at 15 nautical miles north of Sharjah in the United Arab Emirates, but that all crew members were safe. MARCH 30, 2019 After an Iranian missile attack on the Al 'Salmi tanker off Dubai, a fire broke out after it was hit by a fully loaded Kuwaiti crude-oil tanker. The ship's owner Kuwait Petroleum Corporation said that the attack caused damage to the hull, but it was put out without any oil leaks and with no injuries among the crew. Tasnim reported that Iran's Revolutionary Guards claimed they targeted a ship in the Gulf due to its links with Israel. Shipping maps show that although they spelled it as "Express Halfong," the container ship HAIPHONG Express, flying the Singaporean flag, was at anchorage next to the Al Salmi oil tanker.
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Source: Siemens to restructure two divisions
Siemens will dissolve its digital 'industries' and smart infrastructure segments in a upcoming reorganisation. The reorganisation aims to eliminate "silo-structures" as part of CEO Roland Busch’s "One Tech Company” strategy. This combines infrastructure, transportation and software with AI. Smart infrastructure is a business area that focuses on building technology, energy management, and motion control. Source: The two divisions would be divided into six or seven smaller units, with a reorganisation to the executive board following. Each unit will report directly to board. The exact nature of the plan is not yet known, but it will be discussed with the employee representatives and supervisory board in May. Source: Previous plans for merging the smart infrastructure and digital industries divisions were put on hold. It is expected that the German engineering group's Mobility?division which focuses on Rail Technology will remain untouched by the restructuring. The first report on the plans was published in the German newspaper Handelsblatt. Siemens declined to make a comment. (Reporting and writing by Alexander Huebner; editing by Sabine Wollrab, Miranda Murray, and Marleen Kasebier)
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TSX gains on mining, energy and energy as Middle East conflict intensifies
Canada's resource-heavy index of the main stock market rose on Monday, boosted by gains in mining and energy, as higher?commodity? prices offset worries?about an escalating?Middle East war. 10:37 am ET, the S&P/TSX Composite Index of the Toronto Stock Exchange was up 0.7% at 32,201.91. The S&P/TSX composite index of the Toronto Stock Exchange was up 0.7% to 32,201.91 at 10:37 a.m. ET. Brent oil prices are on track to reach a new monthly record, while gold is up for the second straight session, as demand for safe havens picks up. Ten out of eleven major sectors in the index traded in the green, including the mining and energy heavyweight sectors. Kevin Headland is the co-chief investment strategy at Manulife Investments. He advises caution. He said, "We don't believe oil will remain structurally high for very long." Donald Trump, the U.S. President, said that Washington is in serious talks with Iran's "more reasonable regime" to end the conflict, but he repeated his warnings about the U.S. attacking Iranian oil wells, power plants, and other facilities if Iran does not reopen the Strait of Hormuz. His comments follow the entry of Yemen's Iran backed Houthi militia into the war at the weekend. The high oil prices have helped Canada’s commodity-heavy index to weather the war-shookn month of March better than the S&P 500. It fell about 6.3% compared with the U.S. benchmark’s near-7% decline. The TSX climbed a whopping?2,1% last week to snap a three-week losing run,?but it's still on course to end the month with its worst performance since June 2022. Air Canada's shares fell 2.5% following the announcement that CEO Michael Rousseau would step down at the end of the third-quarter. (Reporting from Rashika Singh in Bengaluru and Ragini Mathematics in New York)
Cameroon signs bauxite deal with Canyon Resources
Cameroon on Tuesday signed a bauxite mining deal worth at least $2 billion with a. subsidiary of Australiabased Canyon Resources, as the. central African country seeks to end up being an upper middleincome. country by 2035.
Camalco, the Cameroonian subsidiary of the Australian miner,. will carry out the direct shipping ore (DSO) job at the. Minim-Martap mine in northern Cameroon, covering a location of. nearly 500 square km (123,550 acres).
We have lastly had the ability to bring the long, old. Minim-Martap, which was understood theoretically, into fruition, Fuh. Calistus Gentry, Cameroon's interim mines minister, stated at the. signing occasion.
According to a preliminary 20-year contract, Camalco will work. on the Beatrice, Raymonde and Danielle plateaux in the north of. the country to mine 99.1 million metric tons of tested reserves. of bauxite, with 51.6% alumina and 2.4% silica.
The state-of-the-art, low impurity bauxite deposit is suitable. for industrial production at a rate of around 5 million tons of. bauxite ore annually over a period of 20 years.
Camalco will process bauxite into alumina and transport it. through an existing train line through the cities of Ngaoundere,. Yaounde and Douala to the Port of Douala or the ore terminal at. the Port of Kribi for export.
It will develop the mine and other mining centers to be. utilized throughout the actual mining operation, in addition to road. facilities from the extraction website to the rail loading. station. It will also buy restoring the existing. railway network.
The mining company will likewise build an energy production. system, an unit to procedure bauxite into alumina, and devoted port. centers.
Singapore-based Watchful Eye Asset Holdings (EEA) is helping. fund the task after signing a membership contract with. Canyon Resources last year.
Rana Pratap Singh, director general of Camalco, stated the. offer marks an extremely crucial milestone in the process of. converting the concession into a mining permit.
Once we have this mining permit, then all our activities. will take rate with much more confidence from financiers, he. informed press reporters at the signing, adding that major mining. operations might start in 2 years' time.
Under the offer, the Cameroonian government will own 10% of. all bauxite drawn out. It will also receive state concession. costs and ad valorem tax, while the mining business will pay. royalties to local neighborhoods.
The job will create at least 1,000 direct tasks from. the first year of production and substantially contribute to the. national economy, the interim mines minister said.
The mining code states that 15% of the raw product. drawn out need to be provided to the local market.
(source: Reuters)