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Zelenskiy will meet EU's Costa and Slovakia's PM to discuss energy issues
The Ukrainian president Volodymyr Zelenskiy announced that he will meet with the President of the European Council, Antonio Costa, and Slovak prime minister Robert Fico to discuss energy matters on Friday. Roman Andarak, Ukraine's deputy minister of energy, said on Friday in Copenhagen that Zelenskiy would be expected to discuss with Fico a phased out Russian oil delivery via Ukraine during their meeting. Slovakia relies heavily on oil supplies from Russia via Druzhba, whose infrastructure Ukrainian drones attacked recently. This caused repeated interruptions in supply, which prompted a furious response from Bratislava. Ukraine has been fighting a full-scale Russian invasion since February 2022. It has repeatedly asked other countries to stop purchasing Russian oil so that Moscow does not have the funds it needs to fight its war.
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Dutch Postal Operator PostNL Loses Second Bid for State Support
Dutch postal operator PostNL lost Friday its second attempt to get financial assistance from the Dutch government this year after a court rejected it again, saying that the state had no obligation grant the subsidy. The interim relief judge stated that the Netherlands Trade and Industry Appeals Tribunal wasn't convinced that the company’s situation was so dire as to require the Minister of Economic Affairs provide financial assistance this year and next, as requested. PostNL asked for the Dutch government to contribute 30 million euros ($35,1 million) and 38 millions in 2026. The request was rejected in early August. The Dutch tribunal stated that "the burden on PostNL can be eased by financial support or the UPD obligations" referring to the rules which require PostNL to deliver mail throughout the Netherlands for a set rate. The Minister would prefer this. By 0819 GMT, shares in the group had fallen 0.7%.
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. SAFRAN The French aerospace group is looking to sell a significant part of its interiors business. SOFINA The Belgian holding reported a lower net asset value for the first half of 2024 than it did in 2010. It was 9.8 billion euro compared to 10.3 billion euros in the same period last year. The French group announced a half-year revenue totaling 2.5 billion Euros and confirmed its long term strategy. Pan-European market data: European Equities speed guide................... FTSE Eurotop 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones............... Wall Street report ..... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... survey of world bourse outlook......... European Asset Allocation........................ News at a glance: Top News............. Equities.............. Main oil report........... Main currency report.....
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US: 2 Venezuelan military aircraft flew close to US Navy vessel on international waters
The U.S. Department of Defense announced late Thursday that two Venezuelan military aircraft flew close to a U.S. Navy ship in international waters. On Tuesday, the U.S. Military killed 11 people on a Venezuelan vessel in the Caribbean that was allegedly carrying illegal drugs and belonged to a cartel that Donald Trump had designated as a terrorist organization. Legal experts raised questions regarding the attack. In a statement released by the Defense Department on Thursday, Venezuela was "strongly advised" not to continue any effort to obstruct or deter counter-narcotics operations and counter-terrorism carried out by U.S. forces. The statement didn't provide any further details. The Pentagon described the action as a "highly provocation move," which it said "was intended to interfere with our anti-narcoterrorism operations." The New York Times, citing a U.S. Defense official, reported that two Venezuelan F-16 jet fighters flew above the U.S. Navy's guided-missile destroyer Jason Dunham, in the southern Caribbean Sea. Newspaper cites a U.S. official as saying that the U.S. warship didn't engage. The use of military forces in Tuesday's assault was a first. Trump stated in a post on social media that the boat was carrying illegal drugs, and it would be the U.S. Coast Guard's responsibility to intercept them. Legal experts say that if the Coast Guard was fired at while trying to stop the vessel, then the Coast Guard would have been justified in defending itself. Trump, however, posted on social media a video that appeared to show an air strike destroying a boat speeding by. The administration failed to provide any evidence of an imminent attack on the United States, did not indicate that the boat was armed, and did not identify the targets who would be critical in a terrorist attack. Previous presidents had done this when similar attacks occurred. Legal experts say that many people will see the victims of the attack as civilians, and they will view it as extrajudicial.
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Qantas reduces bonuses for executives by 15% in fiscal 2025 due to cyber-hack
Qantas Airways, Australia's largest airline, has reduced short-term bonuses by 15% for its CEO and top executives in fiscal 2025 following a cyber attack that exposed millions of records earlier this year. The company revealed the news on Friday. The country's flag airline said that a hacker targeted its call center in July and gained access to a database with six million names and email addresses as well as phone numbers, dates of birth and frequent flyer numbers. Qantas issued a statement saying that "While we acknowledge that the investigation into this incident will not be completed for some time, it is important that both our executives as well as shareholders deal with the remuneration implications of this incident this year." It added that the bonus adjustment reflects shared responsibility among executives. Vanessa Hudson, Qantas' CEO, received a short-term bonus of A$250,000 (162,450 dollars) for the fiscal year ending June 30. Hudson earned A$6.3million for the year. This is up from A$4.4million a year earlier. Qantas profit increased by nearly one-sixth during fiscal 2025, thanks to a sustained recovery of domestic travel after the pandemic and improved macroeconomic conditions.
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Air Current reports that Alaska Air converted part of its Boeing 787-9 orders to larger 787-10s.
Alaska Air Group will convert a portion of its Boeing 787-9 order to the 787-10 version, according to a report in the aviation industry magazine The Air Current on Thursday. This move is part of the airline's post Hawaii integration strategy, which aims to meet the growing demand for high-traffic routes across the Pacific. According to its website, Alaska Air Group operates four Boeing 787-9 Dreamliners as well as about 243 Boeing 737s of different models. In July, the airline reaffirmed its full-year forecast. It cited stronger bookings, as U.S. West Coast tech firms increased their travel. However, it warned about higher aircraft costs due to proposed tariffs on Brazilian imported goods. Could not verify immediately the report. Boeing declined to comment, while Alaska Air didn't immediately respond to an inquiry for comment. (Reporting and editing by Sherry Phillips in Bengaluru, Alan Barona and Surbhi Misra)
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US media reports that Trump administration may ban transgender people from purchasing guns
According to U.S. news reports, the Justice Department of the United States is examining proposals that would prevent transgender individuals from purchasing guns. CNN, citing anonymous sources, said that talks were "preliminary" in nature and that they were a result of the shooting last week at a Catholic Church in Minnesota which killed two children and injured 17 others. Homeland Security Secretary Kristi Nuem said that the suspect was transgender. The New York Post reported, citing the same unnamed sources as well, that there were also ongoing talks. The DOJ is actively evaluating ways to prevent the patterns of violence that we have observed from people with mental health issues and substance abuse disorders. A Justice Department spokesperson responded to a question about media reports by saying that no specific criminal justice proposals had been made at this time. Talks within the Trump administration will pit the Republican Party, which has long supported gun rights, against the Administration's efforts to limit transgender Americans' rights. Trump signed an executive order in which he banned transgenders from serving in the military. He also mandated that government issued identification documents be based "on the individual's biological classification, either male or feminine." Gun Owners of America, a group of gun rights advocates, responded to CNN's article with a post on social media that said: "GOA is opposed to any and all gun bans." Full stop." The Second Amendment of the U.S. Constitution gives citizens the right to bear arms. However, the Bureau of Alcohol, Tobacco, Firearms and Explosives has made exceptions for those who are deemed mentally "defective" or convicts. (Reporting and editing by Jasper Ward, Sarah N. Lynch)
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U.S. Midwest Grid selects 10 projects for expedited review
On Thursday, the U.S. Midwest Grid Operator announced that it had selected 10 initial power plant projects to be fast tracked for review. This is part of a program to quickly add new resources as demand for energy surges. The record U.S. consumption of electricity due to artificial intelligence data centres and the electrification and buildings and transportation in the United States is pushing grids to their limits, which has led some operators to accelerate new resources. MISO is the Midcontinent Independent System Operator that controls electricity flow through transmission lines in 15 U.S. States. In addition to conducting engineering studies, the organization reviews power sources that want to connect to the grid. MISO has selected five projects for rapid review. Three are solar, one is wind, and one is battery. The total installed capacity of the projects is 5.3 gigawatts. The MISO program called Expedited Resource Addition Study (ERAS) reviews projects that are ready to be connected. The selected projects have an in-service date between January 2027 to August 2028. The first 10 projects span all three MISO regions, from Louisiana to Minnesota, said Jennifer Curran. MISO operates the grid that covers 15 states across the middle of the United States. Curran stated that "ERAS can be a valuable tool to help us improve reliability in our efforts to achieve long-term improvements to the interconnection process. Each project must also meet strict standards to ensure only feasible and necessary proposals are approved." Nearly 50 projects totaling 26.5 gigawatts in electricity generation capacity applied for the program. MISO has taken a similar step to the one taken by PJM Interconnection - the largest grid operator in the United States - to accelerate the review of power projects. The projects selected so far have overwhelmingly used natural gas. (Reporting and editing by Nick Zieminski.)
US FAA proposes changes to speed up certification of new commercial aircrafts
In a Thursday notice, the Trump Administration announced that the Federal Aviation Administration will propose changes in order to accelerate certification of new commercial aircraft.
The FAA announced that it will propose changes by December "to modernize certification standards for aircraft and propulsion systems of the transport category." The FAA said that the initiative will be de-regulatory, reducing the number "of exemptions, special conditions and equivalent level safety findings required during certification."
Mike Whitaker told reporters in December that the FAA wanted to streamline the aircraft certification process and was working on using "better technologies" to do so.
The FAA stated that it hopes the proposal "will reduce certification costs and time for new and changed product certifications, both for industry and FAA, while maintaining or improving the level of security." The FAA plans to harmonize their regulations with international standards.
Boeing had hoped that the 737 MAX 7 would be certified by 2022, but has been faced with a number of problems. Boeing retracted its request for an exemption from safety regulations in January to address a de-icing problem with the engine.
Southwest Airlines expects the MAX 7 to be certified in the first six months of 2019. This would mean that Southwest Airlines could enter service as early as 2026.
Before the FAA can certify MAX 10, the MAX 7 first needs to be certified. United Airlines said earlier that it might not receive the MAX 10 before 2027 or even 2028 due to uncertainty over when the plane would be approved. (Reporting and editing by Leslie Adler, Diane Craft, and David Shepardson)
(source: Reuters)