Latest News
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Protesters disrupt the start of German Air Industry Showcase
On Wednesday, protesters blocking roads to 'Berlin’s ILA airshow and shouting slogans like "Free Palestine" forced many delegates to walk. Witnesses reported that dozens of police officers were on the scene. A couple of them were seen carrying away a protester. Buses couldn't reach the venue and hundreds of people had to walk to the event. This year, the ILA airshow, which dates back to 1909, will host 750 exhibitors from 37 countries. The build-up to the show saw the cancellation of a Franco-German flagship fighter jet project, which 'became bogged-down in industrial rivalries. This underlined 'the struggles Europe has in building its military capability. (Written by Matthias Williams and edited by Thomas Seythal).
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Maguire: Germany's industrial growth could be re-ignited by the power of Germany.
Germany's electrical output will grow by more than 10 percent in 2026. This could be a lifeline for the industrial sector, which has been near stagnation over the past few years. According to the energy think tank Ember, total utility-supplied electric output has increased by more than 10 years. It now stands at 209 terawatts hours (TWh). This surge in power production?has coincided?with tentative signs of stabilisation?in parts of the manufacturing sector of the country,?including?some energy-intensive sectors such as chemicals. The total output and activity levels of Germany's vital industrial base are still well below their previous peaks. And the total electricity produced by utilities is around 19% lower than its all-time high set in 2017. Germany's clean energy supplies are nearing multi-year highs, and the annual growth of total electricity is expected to be the highest in many years. POWERING A TUNNAROUND This shift is important because the availability of energy and its affordability has been a major constraint for German industry ever since the energy crisis in 2022, which was triggered by Russia’s invasion of Ukraine. In response, several major European energy importers have cut their purchases of Russian gas and oil. This has led to a sharp tightening on local energy markets. Fuel and power prices surged, causing German businesses to lose money, forcing them to cut back on production and trigger a contraction in energy-intensive industries that are the basis of Germany's manufacturing model. The reverse dynamic is now beginning to emerge. Wind and solar power are increasing, and they inject large amounts of electricity at low cost into the grid. This helps to stabilize supply and cap wholesale prices. The average wholesale spot power price in Germany has been around 96.4 Euros per Megawatt Hour so far in 2026. This is a relatively flat rate compared to a year ago and the lowest in the last two years. Even a modest reduction in electricity costs can have a disproportionate impact on industrial users' profitability and production decisions. Early signs indicate that there may be some ease in the air. The producers of energy-intensive chemicals and goods are among those who have been hit the hardest in recent years. They show tentative signs of stabilisation along with the increase in power supply. A STRUCTURAL?SHIFT in Supply This time, the key difference is the source of expansion. Germany does not depend on fossil fuels, nor imports for supply. Instead, it relies on renewable energy produced domestically. The system is dominated by wind, but solar energy has been gaining ground, and it's setting records. This is important for two reasons. The first is that renewable energy has near-zero marginal cost, so increases in production tend to lower overall electricity prices. Second, electricity generated domestically reduces the exposure to volatile fuel markets globally, improving supply security, predictability, and reliability for industrial users. These dynamics together create an operating environment that is more favorable for manufacturers today than it was before the energy crises. LIMITATIONS ON THE REBOUND This does not guarantee a complete industrial revival. German manufacturing continues to struggle with a weak global demand, increased competition from abroad and structural changes, especially in sectors like autos and chemicals. The recovery will likely be slow. The power system itself is not without its own constraints. Grid bottlenecks and intermittent renewable energy, as well as the need for increased storage capacity, could all be limiting factors in how quickly a rise in generation can translate into a consistent drop in prices. While electricity production is on the rise, total demand still hasn't recovered, reflecting the cautious attitude of industrial users. The Energy-Industrial Feedback Loop The direction is still becoming more clear. The industrial sector in Germany does not require a return of ultra-cheap electricity to stabilize -- it requires predictability, scale, and gradual cost relief. Expansion of electricity supply has begun to achieve this. The availability of more power can?support higher industrial production, which, in turn, increases electricity demand and encourages further investment in generator capacity. This feedback loop can help to rebuild the competitiveness and scale of Germany's industrial base. A NEW POWER CHAPTER Germany's economy has long been linked to its factories. After the energy shock, however, this link may have been broken and the road to recovery could be in the opposite direction. The current surge in supply of electricity will not only light up homes and charge cars, but it will also reset the economics for manufacturing in one of the leading manufacturing hubs in the world. The next chapter in Germany's industrial history may not start on the factory floor but on the grid. The opinions expressed are those of the columnist, author. This column is a great read! Check out Open Interest, your new essential source for global financial commentary. Follow ROI on LinkedIn, X and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
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Taliban: Pakistani air strikes in Afghanistan kill at least 13, Taliban claims
The Afghan Taliban government reported that Pakistani air strikes in three provinces of Afghanistan killed at least 13 people, including 11 children. This is a resurgence of a conflict which has claimed hundreds lives this year. Taliban spokesperson Zabihullah Mojahid stated that at least?14 other people - including children and women – were injured by strikes that violated Afghanistan’s airspace, and bombed homes of civilians in the provinces Kunar, Khost, and Paktika. The Pakistani government said that the "calibrated attacks" along the Pakistan-Afghanistan frontier killed 26 militants. They were in response to recent attacks on the country's northwestern region. Attaullah tarar, Pakistan's Information Minister, said that based on reliable intelligence, the targeted camps and hideouts were carried out with "precision and accuracy". Four targets, including a training center, a hideout, and an ammunition stash, were destroyed. Islamabad accuses Kabul of harbouring militants who, it claims, plot attacks against Pakistan. According to Armed Conflict Location & Event Data, militant attacks in 'Pakistan' have increased four-fold since 2022. This was the year after the Taliban regained power in Afghanistan. The Taliban denied these allegations, and claimed that militancy is a problem within Pakistan. "WE WILL TAKE REVENGE" The renewed violence between former allies could disrupt a long-lasting truce in the fighting between Islamabad, and Kabul. They fought their most intense battle in many years in February. In March, the two countries started a dialogue to reduce tensions. China was tasked with mediating a resolution to the conflict. Fighting has ceased since then but there have been sporadic clashes along the 2,600 km (1,600 mile) border. Haji Ali 'Khan, tribal elder from Khost said that one of the airstrikes killed 10 people in a village, including women and kids, after midnight. The family whose home was bombed is a local villager. "They have no connection to the TTP nor do they know them," said he, referring the Pakistani Taliban. "Either the authorities provide security in this area, or they allow the people to protect themselves.... We will either sacrifice ourselves or take revenge on our own." Reporting by Mohammad Yunus Yawar, Mushtaq Ali in Peshawar and Hritam Mukherjee, Saad Sayeed, and Himani Sarkar; editing by Himani Sarkar and Lincoln Feast.
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Ukraine slams Mariupol port'significantly restricting' its use
Kyiv announced?on? Wednesday that Ukrainian forces had struck "several" key facilities in the Russian-occupied port of Mariupol. This attack has "significantly reduced" its ability to be a vital logistics hub for Moscow’s war effort. According to Ukraine's Drone Forces, the port had no power after strikes on its energy management and infrastructure. They said that they had "carried out" the operation in conjunction with the 1st Azov Corps, and the SBU security service. The statement said that the port had been 'used by the enemy for military logistic, as well illegal exports of Ukrainian grain and coal to Russia. "The enemy?s ability to use Mariupol a logistic hub is severely limited." The 1st?Azov 'Corps? posted a video showing drone footage of the ships, electrical station and other structures that were attacked. The strikes on Tuesday are part of a growing Ukrainian campaign that targets Russian military logisticians?far from the front line. Analysts say this has hampered Moscow’s battlefield advancements.
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The guesthouses of Latvia's Land of Blue Lakes are empty due to fear of Ukrainian drones
Martins Kiscenko, the owner of Birdwhistles, said that all eight rooms at the guesthouse in a rustic, two-storey wood barn located in the Latvian forest, 50 km away from the Russian border were vacant. This is something that never happens during this time of the year. The couples who had booked two wedding parties cancelled them at the last minute because they did not want to make their guests scramble to find shelter in case of a drone alert. Eastern Latvia has a beautiful and tranquil woodland area known as Land of Blue Lakes. There's not much to do in this region, so tourists flock there every summer. Fishing in the clear, cold waters. Birdwatching. Hiking in forests of birch trees straight as poles. After a long day of hiking, you can end the trip by singing folk songs in your cozy cabin. Tourists are staying away from the region because they fear being forced to seek shelter in the event of an attack by Ukrainian drones. No drones have been seen for the past two weeks. This gave hope that things had improved. On Monday, however, a French NATO aircraft was forced to shoot down another drone. Kijasko said, "Now we know it won't be easy", hours after the incident. Since March, stray Ukrainian military drones are entering the airspace over Latvia and its Baltic neighbours. The NATO and Kyiv countries claim that Russian signal jamming diverted the weapons from their intended targets in Russia. The incursions are not causing any harm, but they have caused the residents to be regularly ordered to take shelter. This is impossible in Kiscenko’s wooden guesthouse. It has no basement and heavy walls. "That wasn't a requirement when i built it," says Kiscenko dryly. Two?drones exploded last month in the middle town of Rezekne where tourists usually come to see a ruined castle on a hilltop. Two other drones caused a fire at an oil storage facility near the town of Rezekne. Authorities are trying to convince Latvians to continue to holiday as normal in the region. Prime Minister Andris Kuulbergs plans to spend his summer holiday 'in the region', according to his spokesperson. It may already be too late. Kijasko stated that a survey of her association of tourism business showed that 85% faced cancellations because of drone fears. Some businesses lost over half their future business. Kijasko said that tourists should not stay away. She said, "We live in this area and don't really feel threatened." "The likelihood of a car accident in Riga being much greater than having a drone land on your head is very high." (Editing by Peter Graff).
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Senegal's Federation explains viral airport security video ahead of World Cup
The Senegal Football Federation (FSF), after receiving accusations of discrimination, moved to explain on Tuesday a'social media video showing their World Cup squad undergoing security checks at an airport tarmac. Online videos showed Senegal's players being screened at airport security prior to their flight from Raleigh, North Carolina, to San Antonio, Texas, for a friendly warm-up match against Saudi Arabia before the tournament. The FSF responded to the outrage about the treatment of the players by stating that "all checks were conducted in compliance with applicable airport security regulations", and that they were part of a deal to expedite the travel. The federation stated that the national team bus left the hotel in Raleigh to go straight to the airport's tarmac as part of its logistical arrangements. This procedure allowed players and staff to perform all security and law enforcement checks at the bottom of the plane, without having to go through the airport terminals and boarding lounges. This arrangement was made to optimize the travel time of the delegation and facilitate boarding on a private flight to San Antonio. Saudi Arabia held a 10-man Senegal to a 'goalless draw' in Friendlies on Tuesday. Senegal opens its World Cup campaign on 16 June against France in?New Jersey. In Group I, they also play against Norway on the same venue on June 22, and Iraq in Toronto June 26.
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Maguire: Germany's industrial growth could be re-ignited by the power of Germany.
Germany's electric output will grow by more than 10 percent in 2026. This could be a lifeline for the industrial sector, which is at the core of Europe's largest economy. According to the energy think tank Ember, total utility-supplied electricity output has increased by more than 10 years. It now stands at 209 Terawatt Hours (TWh). The?surge of power production has coincided with tentative?signs of?stabilisation of parts of the manufacturing sector of the country, including certain energy-intensive industries like?chemicals. The total output and activity levels of Germany's industrial base are still well below their previous peaks. Total utility-supplied electric output is also around 19% lower than the peak reached in 2017. Germany's clean energy supplies are nearing multi-year highs, and the annual growth of total electricity is expected to be the highest in many years. POWERING A TUNNAROUND This shift is important because the availability of energy and its affordability has been a major constraint for German industry ever since the energy crisis in 2022, which was triggered by Russia’s invasion of Ukraine. In response, several major European energy consumers cut their purchases of Russian oil and natural gas. This has led to a sharp tightening on the local energy market. Fuel and power prices soared, causing German businesses to lose money, forcing them to cut production and trigger a contraction in energy-intensive industries that are the backbone of Germany's manufacturing model. The reverse dynamic is now beginning to emerge. Wind and solar power are increasing, and they inject large amounts of electricity at low cost into the grid. This helps to stabilize supply and cap wholesale prices. The average wholesale spot power price in Germany in 2026 has been around 96.4 Euros per Megawatt Hour, which is essentially flat in comparison to a year ago and the lowest in the last two years. Even a modest reduction in electricity costs can have a significant impact on industrial users' profitability and production decisions. Early signs suggest a slight easing of the situation. The producers of energy-intensive chemicals and goods are among those who have been hit the hardest in recent years. They show some signs of stabilisation with the increase in power availability. A STRUCTURAL CHANGE IN SUPPLY The source of expansion is what makes this difference. Germany does not depend on fossil fuels, nor imports for supply. Instead, it relies on renewable energy produced domestically. The system is dominated by wind, but solar energy has been gaining ground, and it's setting records. This is important for two reasons. The first is that renewable energy has near-zero marginal cost, so increases in production tend to lower overall electricity prices. Second, electricity generated domestically reduces the exposure to volatile fuel markets globally, improving supply security, predictability, and reliability for industrial users. These dynamics together create an operating environment that is more favorable for manufacturers today than it was before the energy crises. LIMITATIONS ON THE REBOUND All of this does not guarantee a complete industrial revival. German manufacturing is still struggling with weak global demand. Rising competition from abroad and structural changes are key sectors like autos and chemicals. The recovery will likely be slow. Also, there are constraints in the system itself. Grid bottlenecks and intermittent renewables could limit the rate at which rising production translates to lower prices. While electricity production is on the rise, total demand still hasn't recovered,?reflecting industrial users' cautious attitude. The?ENERGY INDUSTRY FEEDBACK LOOOP The direction is still becoming more clear. The industrial sector in Germany does not require a return of ultra-cheap electricity to stabilize -- it requires predictability, scale, and gradual cost relief. Expansion of electricity supply has begun to achieve this. The availability of more power can support a higher industrial output, which will in turn increase electricity demand and encourage further investment. This feedback loop can help Germany to regain its competitiveness and scale over time. A NEW POWER CHAPTER Germany's economy has long been linked to its factories. After the energy shock, however, this link may have been broken and the road to recovery could be in the opposite direction. The current surge in supply of electricity will not only?light homes or charge cars -- it'll quietly reset the "economics" of manufacturing in one of the leading manufacturing hubs in the world. The next chapter in Germany's industrial history may not start on the factory floor but on the grid. The opinions expressed are those of the columnist, author. This column is a great read! Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn, X and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
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New York Times Business News - June 10,
These are the top stories from?the New York Times Business Pages. ? These stories have not been?verified? and we cannot vouch for the accuracy of these reports. Anthropic has released a public version its Mythos AI model. However, it will be restricted from being used in high-risk areas like cybersecurity. This is after an earlier preview this year caused a global stir with its ability to detect'software flaws. General Motors is releasing software that will allow some U.S. owners of electric vehicles to send power back to the grid. This is another example of auto companies seeking business opportunities in energy. David Ellison, chief executive of Paramount, in a phone call with Lesley Stahl, pledged to respect "60 Minutes'" editorial independence. A pilot for Air Canada is accused of flying hundreds of passenger flights as a?captain over a 17-year period without having the top-level licence required. (Compiled by Bengaluru Newsroom)
Ukraine warns that Russian attacks on Odesa port threaten export collapse
UAC, Ukraine's biggest farmers' union, said that Russian attacks on Ukraine’s Black Sea ports had already caused "serious" damage to the export terminals and threatened a significant?reduction in shipments. This includes key agricultural exports.
The hub of Odesa is the main port for exports of Ukraine, including iron ore.
In recent months, Russia increased its attacks on port infrastructure. It has targeted?grain termini as well as storage and export facilities for sunflower oil. Ukraine's agricultural products are dominated by grain?and vegetable oils.
"The situation in ports around Odesa has reached a critical level." UAC stated that systematic Russian shelling was destroying Ukraine's logistics heart.
The businesses have spent all their financial resources on repairs. The union said that without a?framework program and foreign funds to support it, it was impossible for terminals to be restored on their own.
The union has not specified how much money is required to restore terminals.
According to World Bank estimates the total recovery costs for Ukraine's transport sector are estimated at $96.3 billion by the end of 2025. Around 60% of the losses in transport are due to the disruption of access to ports.
At the ports are dozens of terminals for grain and oilseeds, some of which are owned by major foreign companies.
UAC noted that if terminals are unable to recover quickly from a failure, exports could collapse, storage areas would overflow and farmers might lack the capital required for the next planting campaigns.
This poses a serious threat to the food security of Ukraine as well as the rest of world.
Official data revealed that Ukraine is a major global grain exporter. It has exported more than 34 million metric tonnes of various grains in 2025/26. In the same period of 2024/25, Ukraine exported 38.6 millions tons of grain. (Reporting and editing by Tomaszjanowski)
(source: Reuters)