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Peru's new president prepares cabinet to quell the anger as elections approach
After taking office, Peruvian president Jose Jeri has scrambled for a new cabinet. He is looking for names that will help to calm public anger about the rising crime and corruption in advance of next year's election. Two sources in Jeri's office said that Jeri was now putting together his 19-member Cabinet. This is a crucial test for his efforts to create a consensus cabinet and calm a volatile country. He took over after Dina Boluarte was removed from office in a congressional session that lasted all night. Congress voted to remove a deeply unpopular leader due to "moral incapacity". This was after public protests and anger over the rise in crime, which has seen murders and extortion soar. The public's anger reached a boiling point after one of Peru's most popular bands, the cumbia band, was attacked in the middle of a concert on Wednesday. It took place at a venue that belonged to the Peruvian Army. On Thursday, Congress presented multiple motions for Boluarte's impeachment. Jeri is the seventh Peruvian president in two years. He's a conservative politician, who has faced his own controversy, including an investigation into sexual assault that was shelved and accusations of corruption he denied. Some Peruvians have reacted with skepticism to the new president, as most of his predecessors were ousted from office in the last nine years or resigned due to scandals. Edwar Sandoval said, "We don't trust President Jeri either, but there is no other person to lead the ship." Sandoval was a shopper in a popular Lima marketplace. "May God save us." Jeri maintained that he had a clean criminal record, and called for unification during his first speech as president. Jeri stated that it was time to apologize for any mistakes made. "To all Peruvians I apologize and make a promise. The promise is to start building and laying foundations for a country where, through empathy, all Peruvians can be reconciled." Jeri, the former Congresswoman who became president in 2007, will now finish her current term, which ends in July. General elections will be held in April. (Reporting and writing by Marco Aquino, Kylie Madry, Alexander Villegas, Deepa Babington).
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Canadian postal workers will resume mail delivery Saturday and begin rotating strikes
The Canadian Union of Postal Workers (CUPSW) will resume mail deliveries on Saturday, rotating which workers are on strike. A labor dispute has caused mail services to be halted nationwide for two weeks. CUPW stated that the rotating strikes will begin at 6 am in each time zone. This will allow parcels and mail to be moved again, while continuing to pressure Canada Post, which is a government-owned corporation, to come to a fair collective contract. On September 25, more than 55,000 post workers left their jobs after Public Works and Procurement minister Joel Lightbound announced a restructuring of Canada Post, which the union believes will result in job loss. The announcement was made during a round of long-term negotiations that began late in 2023, and were interrupted last year by a strike by postal workers. In a late-night statement, Jan Simpson, CUPW national president, said, "We didn't take this decision lightly." "Postal workers prefer to have new collective agreements, and deliver mail than take strike action." Canada Post has not responded to our request for comment immediately. Postal service struggles as letter volume drops and private sector competition increases for parcel shipping. Mark Carney, the Prime Minister of Canada, said last week that Canada Post is in a tough financial situation. He stated that the corporation was losing million of dollars, and stressed the necessity for restructuring. CUPW rejected Canada Post’s latest offer, and said that the government’s intervention had worsened this dispute.
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US Air Traffic Staffing Issues Continue
A group representing the major U.S. Airlines on Friday encouraged air travelers to have patience as staffing problems in air traffic control delayed travel for the fifth consecutive day. Airlines for America (the trade group that represents American Airlines, United Airlines Delta Air Lines Southwest Airlines and other major airlines) warned of delays and cancellations. The bottom line is, anyone who is heading to an airport at this time is advised to bring their patience. Federal Aviation Administration (FAA) said that staffing problems were causing delays in airports such as Phoenix, Newark, and New York LaGuardia. More delays are expected in the afternoon. By 1 p.m., more than 2,500 flights had been delayed. After 22,000 flights were delayed on Monday, there will be 1700 GMT (Eastern Time) delays Friday. The United States is expecting to see an increase in air travel during the three-day Columbus Day weekend. The head of FAA had earlier said that there are continuing shortages in air traffic control personnel as the U.S. shutdown enters its 10th day, but stressed safety will not be compromised. In an email sent to employees, FAA Administrator Bryan Bedford stated that staffing shortages had increased throughout the United States. Safety will never be compromised. We will reduce air traffic to affected airports or centers when staffing is limited. This is done in order to maintain safety. They are not paid. During the shutdown of the federal government, 13,000 air traffic control officers and about 50,000 Transportation Security Administration (TSA) officers still have to report for work. The controllers will receive a partial pay on October 14, for work done before the shutdown. During a 35-day government shutdown in 2019, the number of controllers and TSA agents absent increased as they missed paychecks. This led to longer waits at checkpoints. Authorities in New York were forced to reduce air traffic, which pushed lawmakers to end the standoff quickly. (Reporting and editing by Mark Porter, Diane Craft and David Shepardson)
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Maersk cancels $475 Million contract for offshore Wind vessel
Seatrium, a shipbuilder in Denmark, said that Maersk had terminated a $475-million contract for an offshore wind vessel which was almost finished and intended to be used on a project near the coast of New York. Seatrium, based in Singapore, said that the wind turbine installation vessel was 98.9% completed and built for Equinor’s Empire Wind. Maersk confirmed the cancellation citing delays in construction. Seatrium shares fell 6.5% in Singapore following the announcement. The announcement is just the latest indication of the trouble that the U.S. Offshore Wind Industry has been experiencing. Donald Trump's administration has promised to put an end to it. Empire Wind became entangled in Trump's attack on offshore wind early this year, when his administration issued an order to stop all work on the project for a period of one month. Equinor was not available to comment. Seatrium Energy Pte. has confirmed that Maersk Offshore Wind has terminated the contract for new construction. Seatrium Energy (International) Pte. Ltd., formerly Sembcorp Marine Rigs & Floaters Pte. Ltd. in Singapore to build a Wind Installation Vessel, due to delays and construction issues," Maersk spokesperson Caroline Knox stated in an email. Seatrium stated that it was evaluating all options, including Empire Wind's offer to purchase the vessel. The company also stated that it would take legal action if the contract was terminated. (Reporting and editing by Nichola Hardcastle; Elaine Hardcastle).
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Carney: Keystone XL could be a factor in enhancing US-Canada relations.
Mark Carney, the Prime Minister of Canada, said that reviving the Keystone XL pipeline project from Alberta to the U.S. would help strengthen U.S. Canada energy cooperation. Carney brought up the idea in a meeting with U.S. president Donald Trump Tuesday to defuse trade tensions. A source familiar with these discussions said that Carney had raised this idea. "We're looking at areas where our economies can be integrated better. He said that there were many opportunities in the energy industry, including Keystone XL. Trump revived the pipeline during his first term after it was rejected by President Barack Obama. The U.S. president Joe Biden revoked the permit for a pipeline in 2021. There is no current proponent. Carney could improve his relationship with Alberta, an oil-producing province that says Ottawa strangles the energy industry through measures such as a west coast ban on tankers and a proposed cap of emissions. Carney responded: "It depends". (Reporting and editing by Mark Porter, Bill Berkrot, and David Ljunggren)
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The first direct flight from Riyadh to Moscow operated by Saudia has landed in the Russian capital amid warming relations
Saudia's first direct flight from Riyadh, Saudi Arabia, to Moscow, Russia, landed in the Russian capital Friday amid warming relations between the two oil-producing countries. Saudia announced that it will be offering three direct flights per week from Sheremetyevo Airport in Moscow to visitors, businesspeople and government officials. In August, Flynas launched direct flights between Riyadh's Vnukovo Airport and Moscow. Flynas will also launch a direct flight between Jeddah (the gateway for pilgrims to Mecca) and Moscow, in December. The relationship between Russia and Saudi Arabia is close. Last year, Russian President Vladimir Putin thanked Saudi Arabian Crown Prince Mohammed bin Salman's help in organizing the largest U.S.-Russian Prisoner Swap since the Cold War. Since 2015, when Mohammed bin Salman (also known as MbS) visited Russia for his first visit, the two men have developed a strong personal relationship. The relationship between the two leaders has been instrumental in helping them to reach and maintain an OPEC+ deal. (Reporting and editing by Sharon Singleton.)
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LMEWEEK - LME examines amending warehouse storage rules
Matt Chamberlain, Chief Executive of the London Metal Exchange (LME), said that the LME is looking at a market consultation for amendments to the rules of the 450 warehouses it has around the globe. The LME has been introducing queue-based rent caps (QBRC), which limit rental income for registered warehouses at 80 days following the notice given by the owner of the metal to take delivery. The rule has unintended effects. The rule has unintended consequences. Traders who have contracts to deliver metal beyond 80 days can cancel warrants and get free storage. Meanwhile, consumers cannot access metal stored in warehouses that are overcrowded. Chamberlain, speaking ahead of LME Week in London, an annual gathering of metals companies from around the world, said: "We understand that there are different views about how certain things, such as load-out rates and rents, work." "We have very active discussions with stakeholders...and if it makes sense to take specific ideas to market, whether they are suggested to us by them or developed in-house, we will put those into a consultation when the time is right." It was reported in early this year that LME planned to consult on its storage rules. One alternative to QBRC is to specify percentages of metals that must leave the warehouse or be loaded within a specified period. They said that other changes could include the banning of "rent deals", which allows warehouses to share their rental income with companies who deliver metal to them. Rent deals do not require the firm to retain ownership of the metal, but it still receives a portion of the rent for as long as the metal remains in the warehouse. The fees are paid by new owners. Queues re-appeared last summer despite these measures, raising new concerns about the system's effectiveness. Hong Kong Exchanges and Clearing Ltd. owns the LME. (Editing by Kirsten Donovan, Kirsten Desai and Pratima Deai; additional reporting by Eric Onstad)
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MOL will increase its deliveries to Serbia following US sanctions against NIS refinery
Hungary's MOL oil company will increase its deliveries to Serbia following U.S. Sanctions on the NIS Refinery, Hungary’s Foreign Minister Peter Szijjarto announced in a Friday statement. Thursday, the United States imposed sanctions against Serbia's Russian owned oil company NIS. This prompted Croatia to reduce crude supplies. There are also concerns that Serbia's only refinery could cease operations in a few weeks. Szijjarto stated that "as MOL is an important player in Serbia's crude and fuel supply, our Serbian friends are able to rely on MOL for increased supply." He added that the increase would not be enough to replace the absence of shipments from Croatia. Szijjarto didn't provide any details on the increase in supply planned or the delivery method. MOL stated in a press release that "despite our limited options due to logistical issues, we remain committed to maintaining the security of supply (in Serbia)." MOL Serbia is investing in increasing storage capacity, enhancing its local presence and supporting stable operations and growth of the retail network to ensure that customers have reliable access to imported gasoline. NIS provides around 80% or more of Serbia's demand for diesel, gasoline and jet fuel. It also supplies 90% or even more of the heavy fuel oil and jet fuel. Serbia has limited options to import crude oil at large scale without access to the JANAF pipe from Croatia's Adriatic Sea. A pipeline linking Hungary and Serbia could be built as early as next year. All of Serbia's crude petroleum needs According to the Foreign Minister, this pipeline will be able to transport up to 4-5 millions tonnes of Russian crude oil through Hungary to Serbia every year. In recent years, the relationship between Serbia and Hungary has grown stronger. Both leaders, Viktor Orban, Prime Minister of Hungary, and Aleksandar Vucic as President of Serbia, have strong ties with Russia. (Reporting and editing by Deepa Babyington, Anita Komuves)
Media report that Russian railcar and tanks maker reduces working week for civil staff
The company's media service announced to Russian media that the company will be reducing its civil-sector workforce from five days per week to four due to weakening demand.
Sources and companies say that the move is being made as Russia's largest industrial companies, such as automakers, mining, and metallurgical firms, put employees on furlough, or cut staff, as war economy slows down, domestic demand stagnates, and exports dry-up, according to sources.
Uralvagonzavod, despite temporary fluctuations on the railcar market and its diverse production, continues to operate in a stable manner, the company stated, without specifying the number of employees affected.
Uralvagonzavod belongs to the state-owned conglomerate Rostec. When asked to comment on the reported change, it did not reply.
Railway freight volumes in Russia dropped 6.7% on an annual basis between January and September to 830.2 millions metric tons. (Reporting and editing by Louise Heavens; Additional reporting by Darya Corsunskaya, Anastasiya Lirchikova, and Gleb Stolyarov)
(source: Reuters)