Latest News
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Venture Global's liquefaction fees for the second quarter of 2014 have risen 69% due to Iran war and higher LNG prices
Venture Global, an American LNG producer, said that the average liquefaction fee in the second quarter was up?69% from the previous three months. This is due to the higher global LNG prices after the Iran War disrupted the supply through the Strait of Hormuz. According to a regulatory filing, the U.S. exporter of liquefied gas realized an implied weighted-average fixed liquefaction rate of $6.45 for?million British Thermal Units (MMBtu). This is up from $3.82 in the first quarter. Damage to Qatar's liquefaction plants curtailed LNG exports and sent LNG prices sharply higher. Venture Global's?weighted-average liquefaction charge reflects both the higher prices it received from cargoes that were sold on the spot-market and under short-term contract, as well as the lower-priced volume?sold through long-term agreements. Liquefaction charges are an important component of earnings for U.S. LNG facilities. These plants?charge fixed fees in long-term contracts and have the ability to adjust prices based on global LNG markets conditions. During the second quarter of 2016, the company sold 466.4 TBtu?LNG and recognized revenue, a slight decrease from 480.8TBtu during?the previous period. Calcasieu Pass exports?37 cargoes compared to?38 the previous quarter. Plaquemines exports 90 cargoes compared to 92. (Reporting by Dharna Bafna in Bengaluru; Editing by Maju Samuel)
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S&P 500 closes down after Trump declares Iran deal 'over
Broadcom led the gains amongst recently battered chips stocks. Trump warned, 'at the NATO summit in Turkey that he has no interest in continuing talks with Iran. He will likely launch additional strikes in Washington on Wednesday night. Trump's remarks marked the latest setback of the back-and forth talks, which have oscillated between threats of escalation or hopes for diplomacy. Investors were caught off guard by several false begins toward a peace agreement. Duration is key. How long will this continue? Rob Haworth is a senior investment strategist with U.S. Bank Wealth Management, Seattle. The market could be forced to take more action if we see damage done to Iranian infrastructure. This is because Iran will likely retaliate. Microsoft, Amazon, and Alphabet, all AI giants, each fell, which weighed on the S&P 500. Broadcom gained after Apple announced that it will spend more than $30 Billion as part of an agreement to supply chips reached with Broadcom earlier this week. Art Hogan is the chief market strategist at B. Riley Wealth. He said: "Any announcement by?Apple that they will be using your equipment is a positive thing, especially since there are 2.5 billion Apple products in people's pockets around the world." Nvidia rose when the Information reported China's top AI firms will be allowed to purchase a limited amount of H200 chips from the company. The preliminary data shows that the S&P 500 fell 22.57 points or 0.30% to finish at 7,481.28 while the Nasdaq Composite rose 52.52 points or 0.19% to 25,868.29. The Dow Jones Industrial Average dropped 592.43, or 1.12% to 52,332.72. Brent crude futures rose 5.2% after Trump's remarks. Treasury yields rose too as the sale spread to bonds. The latest escalation of the conflict threatens to upset the equity rally that has seen the benchmark S&P500 up about 9% this year despite sharp drops after the Mideast War started. Oil prices rising again could rekindle inflation concerns and complicate the Federal Reserve's course. Travel stocks that are sensitive to energy prices fell, as rising oil prices raised concerns about fuel costs and demand. United Airlines and Delta Air Lines lost ground. Carnival Cruise Line and Norwegian Cruise Line also fell. The International Monetary Fund lowered their global growth forecast for 2026 to 3% on Wednesday, warning about the ongoing risks of the Middle East war. Minutes of the meeting showed that inflation concerns increased at the U.S. Central?bank's last month's meeting, as officials followed Federal Reserve Chairman Kevin Warsh to a more streamlined?policy announcement, according to Wednesday's minutes. According to CME Fedwatch, traders expect a rate hike at the Fed's meeting in December.
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Ireland's Manna begins push into U.S. drone delivery "battleground"
90% of Tulsans can expect to be able order deliveries by autonomous drones within the next 12 months, said Manna on Wednesday. The company has begun a push in the American Southwest it believes will "be the battleground" for this?fast-growing sector. Executive chairman Kenny Jacobs said that the Irish-founded startup, based in Oklahoma City, will begin flying orders for partners like DoorDash, McDonald's, and Uber Eats by mid-2027. It will operate 40 bases throughout Oklahoma's second largest city. Jacobs said at the launch of the first full-scale U.S. operations. The technology has been proven. It's now about commercial scalability, and showing how quickly you can set up bases and deliver a variety of things," said the former Dublin Airport CEO and Ryanair Marketing Chief who joined Manna last week. Manna is competing with Zipline, Alphabet’s Wing, Amazon’s Prime Air, and other startups based in the U.S. It has made more than 300,000. This was primarily in Ireland, where the company recently halted its services due to a lack of national planning regulations. Jacobs does not anticipate any such obstacles in the U.S. He said that he would be 'amazed' if Manna did not expand to another U.S. city this year. Jacobs cited?other areas of Oklahoma, Texas, and Arizona, as attractive destinations. Jacobs stated that the company is able to scale rapidly at a low capital expenditure per base, given that each local launch site is not larger than four parking spaces. Jacobs said that Manna hopes to expand to?Britain in early 2028. Its plans could be to push into the Middle East, particularly the United Arab Emirates, before then. Reporting by Padraic halpin, editing by Chizu Nomiyama
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S&P 500 drops after Trump declares Iran deal is over
Broadcom, a chip stock that has been battered recently, led the gains amongst recent battered stocks. The S&P?500 dropped on Wednesday as U.S. president Donald Trump declared an interim agreement aimed at ending?the war?with Iran to be "over." Trump, speaking at the NATO summit in?Turkey said that he was not interested in continuing talks with Iran. He also warned that Washington will likely conduct additional strikes on Wednesday evening. Trump's remarks marked the latest setback of the series of back and forth talks which have oscillated between threats of escalation, and hopes for diplomacy. Investors were left unprepared by several false begins toward a peace agreement. The key is duration. How long will this last? Rob Haworth is a senior investment strategist at U.S. Bank Wealth Management, Seattle. The market could react more strongly if we see damage done to Iranian infrastructure because of the likely retaliation from Iran. Microsoft, Amazon, and Alphabet, all AI giants, each lost more than 1%. This weighed on the S&P500. Broadcom rose 5.2% when Apple announced it would spend over $30 billion as part of an agreement with Broadcom reached this week. Art Hogan is the chief market strategist for B. Riley Wealth. He said: "Any announcement by Apple regarding their use of your equipment is a positive thing, especially with 2.5 billion Apple devices around the world." Nvidia rose by?about 2.8% following the Information's report that China plans to allow its top AI companies to purchase a limited amount of the company’s H200 chip. The PHLX Chip Index rose 2.2% and is now up 77% by 2026. The S&P was down 0.36% to 7,477.10. The Nasdaq fell 0.08%, to 25,798.29, while the Dow Jones Industrial Average dropped 1.11%, at 52,335.24. Nine out of 11 S&P 500 indexes fell, with industrials down by 3.41% and materials dropping by 2.45%. Brent crude futures rose 5% after Trump's comments. Treasury yields rose too as the selling spread to bonds. The latest escalation of the conflict threatens to undermine the rally in equities that has seen the benchmark S&P500 up by about 9% this year despite sharp drops after the Mideast War started. Oil prices may rise again, causing inflation concerns to resurface and complicating the path of the Federal Reserve. Travel stocks that are sensitive to energy prices fell as rising oil prices raised concerns about fuel costs and demand. United Airlines fell 2.3%, and Delta Air Lines dropped 1.9%. Cruise operators were also affected, with Carnival dropping 3.7% and Norwegian Cruise Line falling 2.1%. The International Monetary Fund lowered their '2026 global growth prediction to 3% on Wednesday, warning about the ongoing risks of the Middle East war. Minutes of the meeting showed that inflation concerns increased at the U.S. Central Bank's last month's meeting as officials 'followed Federal Reserve chairman Kevin Warsh's example to a more stripped-down statement', according to the 'Wednesday' minutes. According to CME's Fedwatch, traders expect a rate hike at the Fed's meeting in December. The S&P 500 saw a ratio of 3.3 to 1 between declining stocks and rising stocks.
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Etihad nearing deal to order 10 Boeing 787 jets, sources say
Industry sources said on Wednesday that Etihad Airways, Abu Dhabi, is "close to a deal" for the purchase of ten Boeing 787 wide body jets. An announcement could come as soon as this month at the Farnborough Airshow. Etihad declined and Boeing declined?comment. Sources warned that a deal could not be guaranteed, as negotiations continue to take place in the run-up to 'the 'July 20-24 event? in Britain. Etihad CEO Antonoaldo Neves said last month that the company was considering ordering double-digits of wide-body aircraft, but declined to provide further details. Etihad has restored flights following a?cut in March due to the increase in fuel prices caused by the 'U.S. - Israeli?war against Iran. Airbus, Europe's largest airline, said that Middle East airlines were recovering well amid the fragile ceasefire in the region. Gulf hubs are returning to normal traffic volumes. (Reporting and editing by Elaine Hardcastle, Deepa Babington, Federico Maccioni)
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Trump switches to Air Force One unexpectedly, excluding Qatari jet
On Wednesday, President Donald Trump announced that he would 'fly from Turkey to Britain on an older Air Force One. This was a surprising switch that raised concerns about the retrofitted Boeing 737 donated by Qatar as his presidential jet. He had unveiled it only a few weeks earlier. This was the first trip abroad for the new aircraft. The change comes after months of scrutiny about the luxury gift that was intended to be a temporary replacement for Air Force One while Boeing struggles to deliver its long-delayed new-generation planes. The retrofit was criticized for its cost, speed and security. Trump stated?on Truth Socialthat he will use an older Air Force One aircraft "for old times sake" to travel to RAF Mildenhall, Britain?while a newer plane visits the base to allow U.S. military personnel stationed there to tour the aircraft. The new plane, a Boeing 747, was 'gifted' to the United States last year by Qatar and refitted L3Harris Technologies. The jumbo aircraft has been painted with a livery of'red, white and dark blue, chosen by Trump. This is a departure from Air Force One's long-standing design. The acceptance of the Qatari jet had attracted scrutiny. Experts said that retrofitting this luxury jet required upgrades in security, communication improvements to prevent spying, and missile defence capabilities. The conversion, according to Democratic lawmakers, cost over $1 billion. It also posed security risks. Upgrades were made so quickly, some experts expressed concerns that the aircraft may not be as safe as Air Force One. During presidential trips, a second aircraft capable of operating as Air Force One will always be on "standby". In order to produce an interim version faster, the Air Force has accelerated its efforts to prepare the jet. Air Force Secretary Troy Meink said that the service "meticulously analyzed every requirement" as it worked to accelerate delivery. The Qatari jet?serves as a bridge while Boeing works on delivering two purpose-built 747-8s under a $3.9 Billion fixed-price contract that was signed in 2018. This program is now four years behind schedule. Delivery will not be expected until mid-2028. Trump could find himself without a new U.S. built plane by the time his term ends, in January 2029. Boeing has incurred billions in costs for the Boeing project. (Reporting and editing by Philippa Goller and Howard Goller in Washington)
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Swedish government: Sweden and Germany have signed a letter of intent regarding air defense
Sweden's defence minister said on Wednesday that the German government was interested in working with Sweden to develop new fighter jets. Pal Jonson, the Defence Minister, said that he signed a deal with Boris Pistorius at the NATO summit held in Ankara on Wednesday. Saab 'has recently rolled-out the latest version of Gripen fighter jets, which will?be used?by?the Ukrainian?airforce. Jonson stated that several European countries including Germany had expressed an interest in working with Saab. He said, "We are one of only two countries in Europe who can design, produce and create new fighter jets. We're also working with France." In June,?reported that Airbus had been looking at Sweden's Saab as a preferred partner for the future after the failure of a Franco German fighter programme. Jonson also said there could be collaboration around unmanned systems. The so-called loyal wingman program. (Reporting and editing by PhilippaFletcher, Johan Ahlander)
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Wall St. falls after Trump's Iran remarks ruffle investors; Broadcom gains
Wall Street's major indexes dropped on Wednesday, after President Donald Trump declared that an interim agreement aimed at ending a?war against Iran was "over." Broadcom led the gains among recently battered chips stocks. At the NATO summit, Trump said that he was not interested in continuing talks with Iran. He also warned that Washington would likely carry out more strikes on Wednesday evening. His remarks marked the latest setback of the back-and forth in negotiations that have oscillated between threats of escalation, and hopes for diplomacy. Investors were caught off guard by several false begins toward a peace agreement. Broadcom rose 4.2% as Apple announced it would spend over $30 billion in a chip supply agreement with the chipmaker that was reached earlier this week. Art Hogan is the chief market strategist for B. Riley Wealth. He said: "Any announcement by Apple regarding their use of your equipment is pretty positive, especially since there are 2.5 billion Apple devices in people's possession around the world." Nvidia's early losses were pared and the company turned positive following the Information report that China plans to allow its leading AI firms to purchase a limited amount of H200 chips from the company. After recent volatility, the chip stocks were mixed Wednesday with the broader Philadelphia SE Semiconductor?index falling 0.08%. The Dow Jones Industrial Average fell 774.50 points, or 1.46%, to 52150.65. The S&P 500 lost 66.94 points,?or 0.89%, to 7,437.21. And the Nasdaq Composite?lost 235.63 points (or 0.91%) at 25,584.18. At 12:04 p.m. ET, the Dow Jones Industrial Average dropped 774.50 point, or 1.45%, to 52150.65. The S&P 500 fell 66.94 point,?or 0.89 percent, to 7,437.21, and the Nasdaq composite?lost 235.63 points,?or 0.91%, at 25,584.18. Brent crude futures soared 7% on the day after Trump's remarks. Treasury yields rose as well, as the selling spread to bonds. The latest escalation of the conflict could unsettle an equities rally which has seen the benchmark S&P500 up about 9% this year despite steep declines in 2026, when the Mideast War began. The Federal Reserve may be forced to change its course if oil prices continue to rise. Except for energy and consumer staples, nine of the eleven sectors in the S&P 500 traded in the red. As oil prices rose, travel stocks that are sensitive to fuel costs and demand fell. United Airlines fell 4.4%, and Delta Air Lines?fell 3.4%. Cruise operators have also fallen, with Carnival Cruise Line down 5.1% and Norwegian Cruise Line down 4%. The Russell 2000 index of small-cap stocks fell 1.6%, to "three-week-lows". The CBOE Volatility Index (Wall Street's fear gauge) hit a record high. The last point was up 2.4 at 18.54. IMF WARNINGS IN FOCUS FED MINUTES The International Monetary Fund lowered their 2026 global growth forecast by 3% on Wednesday, warning about the ongoing risks of the Middle East war. Minutes of the Fed's?policy meetings for June are due in the afternoon. The readout may provide better insight into how policymakers assess inflation risks and economic development. In the past, the minutes tended to be less of a market mover. Hogan said, "I?think that this could be different." According to LSEG, traders are pricing in a minimum of one rate increase by the end 2026. On the NYSE and Nasdaq, declining issues outnumber advancers in a ratio of 3.6 to 1. S&P 500 & Nasdaq Composite did not post any new 52-week lows or new highs.
The U.S. has said that companies must take steps to prevent self-driving cars from interfering with emergency vehicles.
The head of the National Highway Traffic Safety Administration in the United States said that companies offering self-driving cars must address a "clear trend" of driverless cars interfering with first responders and law enforcement.
Jonathan Morrison, the head of the U.S. Vehicle Regulatory Agency, wrote in a letter addressed to the industry, that NHTSA had documented numerous instances where AVs drove into emergency scenes and other incidents, when they "blocked ambulances and firefighter's paths, or failed to recognize basic safety conditions such as flashing lights and flares, smoke and?fire and traffic cones." In a letter to the industry, Jonathan Morrison, who heads the U.S. vehicle regulatory agency, said that NHTSA has documented multiple instances of AVs driving into active emergency scenes and other incidents when the vehicles "failed to recognize and respond to basic safety conditions like flashing lights or flares.
NHTSA announced that it would be scheduling meetings with vehicle developers by the month's end to solicit solutions. It called on AV operators and developers to fix the problem. The letter stated that "an AV which cannot safely interact and communicate with first responders poses a risk to the public." NHTSA didn't name any companies or give specific details about the incidents. Local media in Texas reported that a Waymo?self-driving car in Dallas, Texas in late May partially blocked the route used by fire trucks to reach an apartment building on fire. Waymo didn't immediately respond to an inquiry for a?comment. Waymo's vehicles are also seen in other videos allegedly driving into a police station and blocking an ambulance. The National Transportation Safety Board and NHTSA are both investigating separate incidents involving Waymo?self driving vehicles. In one incident, the vehicles were spotted passing school buses that had their lights on in violation of Texas state law. Another incident occurred on January 23rd, when a Waymo self-driving vehicle?hit a nine-year old girl running across the street in Santa Monica from behind a double parked SUV towards the school.
(source: Reuters)