Latest News
-
China threatens to stop Panama ports deal if its shipping giant does not get stake, WSJ reports
The Wall Street Journal, citing anonymous sources, reported that China threatened to block the sale to BlackRock and Mediterranean Shipping Company of more than forty ports owned by Hong Kong's CK Hutchison. Could not verify immediately the WSJ article. CK Hutchison and MSC did not respond immediately to requests for a statement, and the Chinese government was not reachable outside of office hours. The newspaper reported that Chinese officials told BlackRock MSC and Hutchison, if Cosco was not included in the deal, Beijing will take action to stop Hutchison from selling the ports. CK Hutchison, owned by Li Ka-shing, announced in March that it would be selling its 80% stake in the port business. This includes 43 ports across 23 countries. The enterprise value, including debt, is $22.8 billion. After much scrutiny in China and criticism, Hong Kong conglomerate CK Hutchison confirmed that Italian billionaire Gianluigi Aponte’s family-run MSC – one of the top container shipping companies in the world – was the principal investor in a bid to purchase the ports. WSJ reported that BlackRock, MSC, and Hutchison are all open to Cosco acquiring a stake. The report said that the parties were unlikely to reach an agreement before the previously agreed deadline of July 27 for exclusive discussions between BlackRock MSC and Hutchison. After the announcement, Donald Trump called the proposed deal a "reclaiming of the waterway". Reporting by Angela Christy, Mrinmay dey in Bengaluru and Shinjini Ganuli.
-
United Airlines shares drop as Newark issues weigh on the profit forecast
United Airlines shares dropped 3% on Thursday in premarket trade after the U.S. airline reported a drop in third-quarter earnings due to operational issues at Newark Airport. Newark Airport, where the Chicago-based airline operates nearly 70% of its flights, has been affected by equipment failures, ongoing construction on the runway and persistent staff shortages in air traffic control. United Airlines expects a 0.9 percent drop in revenue in the current quarter. This follows a 1.2 percent fall in the previous quarter due to operational issues at the airport. The airport is one of the busiest hubs for the U.S. However, the carrier projected that overall travel demand would rise by six percentage points during the third quarter. Business travel bookings also saw a double-digit increase. Budget cuts and trade tensions in the U.S. under President Donald Trump put the aviation industry on high alert. Most carriers retracted their profit forecasts for 2025 and prepared themselves for a wider travel slowdown. The negative reaction of the share prices in pre-market trading suggests that investors are waiting for more proof that the situation is improving before calling the bottom on the sector, said Dan Coatsworth. Airlines have not seen a significant rebound in their pricing power despite signs of stabilization. United's average revenue for each passenger, which is a proxy of pricing power, decreased across all regions during the second quarter. The biggest drop was in the U.S. Domestic Market. The company anticipates a profit adjusted in the range $2.25 per share to $2.75 for the quarter ending in September. According to LSEG, the midpoint of forecast is $2.50 a share compared to analysts' average estimates of $2.60.
-
GE Aerospace raises its profit forecast for 2025 on the back of rising demand to fix older jets
GE Aerospace increased its 2025 profit projection on Thursday, boosted by strong demand from airlines for aftermarket maintenance as they hold onto older jets due to persistent delays in aircraft deliveries. In premarket trading, shares of the jet engine maker rose by 4%. Boeing and Airbus have been experiencing production delays, which has caused airlines to delay aircraft deliveries. This is forcing them to use older jets to meet the increasing travel demand. This trend has benefited GE Aerospace and other companies that offer engines with lower upfront costs. They generate their profits through long-term contracts, which are high margin, for spare parts and service. GE's adjusted annual profit per share is expected to range from $5.60-$5.80. This compares to its previous expectations of $5.10-$5.45. Parts and services generate more than 70% revenue for its commercial engine division. The second-quarter profit of its Commercial Engines and Services segment rose 33% to $ 2,23 billion while revenue grew 30% to $7,99 billion. CFM International is GE's long-standing joint venture with France’s Safran SA. GE's quarterly profit was $2.39billion, or 1.87 cents per share. This compares to $1.45billion, or $0.20 per share a year earlier. However, supply chain constraints continue to hinder production, leading to a decrease in engine deliveries in the last year. Airbus warned airlines in May that delivery delays could last up to three year, citing bottlenecks with engines and structural parts. The aerospace supply chain is under pressure as a result of the massive tariffs that President Donald Trump has imposed. Suppliers are facing uncertainty about who will be responsible for the costs. GE's first-quarter adjusted revenue, ending June 30, rose by 23% to $10.15 Billion. The company also increased its forecast of operating profit for 2028 from around $10 billion to approximately $11.5 billion. Reporting by Shivansh Tiwary, Bengaluru. Editing by Arun K. Koyyur.
-
DP World reduces the time it takes to ship goods from Romania to Turkey as it boosts its Black Sea assets
A senior executive at DP World, a Dubai-owned port and logistics company, said that the shipping time between Romania and Turkey had been cut in half. The company is expanding its Black Sea operations along the eastern border of the European Union. DP World has more than doubled the capacity of its container shipping at Romania's biggest Black Sea port, Constanta, last year. This was achieved by adding a Roll-on-Roll-off (RoRo) Terminal and a logistic hub in western Romania. This year, a new integrated European logistic service was launched in Romania, offering services by road, rail, sea and air, initially to clients from the neighbouring countries of Moldova, Serbia, and Turkey. Kris Adams, DP World Eastern Europe vice president, said: "We've made great strides to optimise maritime trade between Turkey & Constanta by improving the transit times by sea by 50 percent." "Istanbul-to-Bucharest shipments have been cut to under 30 hours, creating a viable alternative to road transport." He said that a new scanner at DP World’s Constanta Ro-Ro Terminal has reduced truck inspection time from 5-7 to 2 minutes. The upgrades totaled 130 million euros. Adams stated that more upgrades would be made as growth is possible in the automotive, ecommerce, and renewable energy cargo sectors. "We are looking to invest over 200 million Euros, more will be invested in staff and in a digital platform,...we have ambitions to operate contract logistic, which means we will eventually be operating warehouses, but it's too early to comment." In the wake of Russia’s invasion in 2022, investments in infrastructure and exports through Constanta of Ukrainian grain helped boost operations in the port. It is a gateway into Central Asia and offers access to the Danube River and Western Europe. As companies move operations to Eastern Europe’s low-cost manufacturing centers to shorten the supply chain, its importance is also growing. Adams stated that the company would continue to invest despite the pending tax increases by Romania's broad-based coalition government. However, he did note the hikes could have a negative impact on trade. (Reporting and editing by Kirsten Doovan; Luiza Ilie is the reporter)
-
Maguire: Gas consumption in Europe's largest gas trading hub reaches new lows
The gas-fired power production in Europe's biggest gas trading hub has fallen to a record low, dealing a new blow to the natural gas bulls that see Europe as an important growth market for LNG and pipelined supplies. The Netherlands has a large pipeline network and is centrally located, which gives it a unique insight into the gas supply and demand trend. According to the energy think tank Ember, The Netherlands has been a gas-consuming country for many years. From 2000 to 2020, natural gas accounted for more than half of its electricity supply. Since the Russian invasion of Ukraine 2022, Dutch utilities aggressively reduced natural gas consumption. In the first half 2025, gas power plants only supplied a third the country's electrical energy. The rapid and sustained reductions in gas consumption by a once integral gas consumer is alarming for major gas producers and exporters like the United States and Russia, and could herald more cuts for Europe. Small scale, big impact The Netherlands has a considerable impact on regional and global affairs despite its small population and size. The massive port facilities in Rotterdam, the Netherlands, are the primary entry and exit points of crude oil, refined product, crops, and many consumer products into and out Europe. The Netherlands also has a strong high-tech sector and several multinational corporations that rely on its infrastructure and global connections. The strategic importance of the country is reflected by the Dutch government's position in the European Parliament. It is a highly influential group that plays a major role in shaping regional trade, agricultural and financial policies. CLEAN DRIVE Dutch utilities are also leaders in the adoption of clean energy, despite being home to Shell's former headquarters. Ember data show that between 2022 and 2024 the Netherlands saw a 27% increase in electricity produced from clean energy sources compared to an 16% increase in clean power production in the European Union during the same time period. This growth was largely due to a 57% increase in wind power, and a 34% increase in solar power. The rapid increase in renewable sources of energy has changed the mix of electricity generated in the country. Up until 2023, most of the electricity in the country came from fossil fuels. However, since then, clean energy has become the main fuel for electricity production. In 2024, despite the switchovers, electricity supply reached record levels to meet the demand for electricity in the country. The wholesale power prices of the Netherlands are also competitive in Europe, as the Dutch system has reduced gas consumption and increased clean energy output. They have been slightly lower than Germany's average so far in 2025. According to LSEG, the average Dutch wholesale spot electricity price in 2025 will be around 90 euros per Megawatt Hour. This price is about a third higher than in France with its nuclear power, but lower than in other European countries such as Italy and much of Eastern Europe. Other nations in the region will be influenced by the fact that Dutch electricity costs are in line with regional averages despite the reduction in fossil fuel usage in electricity production. It is possible to see the successful transition of fossil fuels from being the main pillar in the country's electric system until 2022, to a smaller role in 2025 as a model for other utility systems also eager to reduce fossil fuel usage. Dutch companies with expertise in solar, offshore wind and batteries work with regional utilities in order to boost clean power production in other countries. Dutch companies are pioneering the use of green energy in order to produce green hydrogen, which is hoped will decarbonise regional power needs and reduce regional dependence on fossil fuels. The Netherlands have generated a lot of momentum with their clean energy push. This is likely to spread well beyond the national borders, and could lead to further reductions in gas consumption across Europe in the coming years. These are the opinions of a columnist who writes for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
-
GE Aerospace raises its profit forecast for 2025 on the back of rising demand to fix older jets
GE Aerospace increased its 2025 profit projection on Thursday, boosted by a strong demand for maintenance services from airlines who are holding onto older jets due to the persistent delays in aircraft deliveries. Boeing and Airbus have been experiencing production delays, which has caused airlines to delay aircraft deliveries. This is forcing them to use older jets to meet the increasing travel demand. This trend has benefited GE Aerospace and other companies that offer engines with lower upfront costs. They generate their profits through long-term contracts, high margins, for spare parts and service. GE's adjusted annual profit per share is expected to range from $5.60-$5.80. This compares to its previous expectations of $5.10-$5.45. Parts and services generate more than 70% revenue for its commercial engine division. The second-quarter profit of its Commercial Engines and Services segment rose 33% to $ 2,23 billion while revenue grew 30% to $7,99 billion. CFM International is GE's long-standing joint venture with France’s Safran SA. GE's quarterly profit was $2.39billion, or 1.87 cents per share. This compares to $1.45billion, or $0.20 per share a year earlier. The supply chain continues to be a problem, and this has led to a decrease in the number of engines delivered over the last year. Airbus warned airlines in May that delivery delays could last up to three year, citing bottlenecks with engines and structural parts. The aerospace supply chain is under pressure as a result of the massive tariffs that President Donald Trump has imposed. Suppliers are facing uncertainty about who will be responsible for the costs. GE's adjusted revenues for the first quarter ending June 30 increased 23% to $10.15 Billion. Reporting by Shivansh Tiwary, Bengaluru. Editing by Arun K. Koyyur.
-
The rupee has lost its key support. Exporter activity, inflows and exports limit losses.
The Indian rupee fell past a crucial support level to reach a three-week high on Thursday, despite a stronger dollar and exporter dollar sales. Portfolio inflows also helped limit the rupee's losses. The rupee was down at 86.0750 against U.S. dollars from the close of 85.94 the previous session. The rupee fell below the 86-mark at the beginning of the day but then sank to a low 86.09 by the end of the session. The rupee suffered less damage as the dollar strengthened, even though Asian currencies weakened by 0.1% to 0.4%. Dollar index rises 0.4% to 987 as traders assess Donald Trump's comments about the future of Fed Chair Jerome Powell. Meanwhile, concerns over an important election in Japan drive the yen down by 0.5%. The dollar index swung on Thursday. It initially dropped on speculation that Trump will sack Powell before reducing losses when the report was denied. Trump's denial led to a unwinding of market movements. The markets' resistance to the headlines which have characterized Trump's first term is evident. The M regional stock market was in the black on Thursday despite India's benchmark equity indices, the BSE Sensex, and Nifty 50, ending down by around 0.4% each. Investors are now awaiting the release of U.S. Retail Sales data for June, and remarks by Federal Reserve policymakers in the late afternoon. These remarks will likely be in the spotlight, given Trump's criticism of Powell almost every day for not lowering rates. (Reporting and editing by Jaspreet K. Kalra)
-
Saudi index continues to lose ground despite gains in most Gulf markets.
The majority of major Gulf stock markets rose on Thursday as a result of positive corporate earnings announcements and results, but the Saudi index is set to continue its losses for the eighth consecutive session. Dubai's main stock index rose 1.2% to a record high of 17-1/2 years, boosted by financial stocks. The shares of Emirates NBD rose 4% on track to increase for the third consecutive session after the top bank announced that it had closed a syndicated loan for Dubai Metro Blue Line Project worth 3.9 billion dirhams. Air Arabia, a budget airline, has risen 5.1% in the past year to reach a new record. This is due to plans to increase the operational capacity of its Abu Dhabi unit by 40% this coming year. The index in Abu Dhabi increased by 0.6%. The Qatari Index gained 0.5%. This was supported by the 2.6% increase in Qatar Islamic Bank, after it reported a higher half-year profit. The sharia compliant lender announced on Wednesday that it had a net profit for the first half of 2,18 billion riyals (598.46 millions dollars), an increase of 5.3% over last year. Commercial Bank of Qatar shares fell 1.3% a day following the lender's announcement of a net profit decline of nearly 20% for the six month period ending June 30. Al Rajhi Bank lost 0.8%, bringing the benchmark Saudi Arabia index down by 0.2%. Saudi Aramco, the world's largest oil company, was also down 0.7%.
Trump cancels US funding of $4 billion for California High-Speed Rail
The U.S. president Donald Trump announced on Wednesday that the Transportation Department will revoke $4 billion of U.S. Government funding for California's High-Speed Rail Project.
The Department said that there is no viable way forward for California High-Speed Rail and was considering clawing back any additional funding for the project.
Last month, the Federal Railroad Administration released a 315 page report citing missed timelines, budget shortages and questionable projections of ridership.
California has not allocated the $7 billion additional funding required to build a 171-mile initial segment between Merced, California and Bakersfield.
California High-Speed Rail System (California High-Speed Rail System) is a two-phase 800-mile (1,287-km) system that will reach speeds up to 220 mph. It is intended to connect San Francisco with Los Angeles/Anaheim and, in the second stage, to extend north to Sacramento, and south to San Diego.
California High-Speed Rail Authority has previously stated that it strongly disagrees the conclusions of the administration, "which are misleading and do not reflect substantial progress made in delivering high-speed train in California."
The authority noted that California Governor Gavin Newsom’s budget proposal to the California legislature provides at least $1 billion in funding per year for the next twenty years, "providing necessary resources to finish the project's first operating segment." In May, the authority reported that civil construction is underway along 119 miles of Central Valley.
Transportation Secretary Sean Duffy stated that "Newsom's California high-speed rail boondogle is the definition of incompetence by government and possible corruption."
Newsom replied on social media, "Won't take advice from the guy that can't keep airplanes in the air."
The project was approved by voters in 2008 for $10 billion, but costs have increased dramatically. Under former president Joe Biden, the Transportation Department awarded this project approximately $4 billion.
The San Francisco to Los Angeles project, originally estimated to cost $33 billion by 2020, has now increased from $89 billion up to $128 billion.
Biden restored in 2021 a $929-million grant to California's high speed rail project that Trump had revoked after calling the project "a disaster" in 2019.
(source: Reuters)