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Saluda Medical shares plummet on Australian market debut
Saluda Medical shares listed on the Australian Securities Exchange fell nearly 45% in their debut at the Australian Securities Exchange on Friday after raising A$231,000,000 ($152.67,000,000) through its initial public offer. Saluda is a U.S. medical device company that develops neuromodulation treatments to treat chronic neurological conditions. The company sold 87.1 new CHESS depositary interests at A$2.65, which valued the company at approximately A$775 millions at listing. In the first few trading minutes, the stock fell almost half its value to A$1.48. Saluda was founded in Sydney, Australia in 2010. The FDA-approved Evoke Spinal Cord Stimulation (SCS) System is a closed-loop system that uses neural biomarkers to measure and adapt therapy in real-time. Saluda made its debut after GemLife Communities Group IPO of A$750 Million in early July. This was the largest 2025 listing in Australia and surpassed Virgin Australia's A$685 Million offering at the end of June. (1 Australian dollar = 1.5131 dollars) (Reporting and editing by Alan Barona in Bengaluru)
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Irish media reported that drones were spotted near Zelenskiy's flight path from Dublin.
Local media reported that an Irish navy ship saw up to five drones near the flight path for Ukrainian President Volodymyr Zelenskiy as he arrived in Ireland on Monday to make a state visit. Irish Times reported that the sighting caused a major alert due to fears of an attempted interference with the flight path. The Irish Times cited unnamed sources who said that the aircraft was not in danger, despite its arrival a little early. The Ukrainian delegation arrived on Monday late and left late the following day, as part of an effort to drum up support for Kyiv in Europe as Russia continues its war against Ukraine. Ukrainian media reported that Dmytro Litvyn was an adviser to Zelenskiy. He said that Ukrainian officials had been informed of the drones but took no action. Lytvyn is quoted as saying "The host country is responsible for the security." According to their data there were drones. However, this did not impact the visit. There was no need to change the visit. Recent drone flights originating from unknown origins have disrupted airspace operations across Europe. Ursula von der Leyen, President of the European Commission, has called these incursions hybrid warfare. The Journal website first reported that drones were spotted at Dublin Airport. They said they arrived at the exact location where Zelenskiy’s plane had been expected to be, at the exact time it was due to pass. The authorities said they were conducting investigations to determine if the drones had taken off from a ship or landed on land. Both news outlets reported that they were first seen northeast of Dublin at a distance of around 20 km (12miles) from the airport. Ireland's Defence Forces stated that it could not comment on any specifics about any alleged incident for operational security purposes. A spokesperson stated that "However, Defence Forces Support to the Security Operation, led by An Garda Siochana, was successfully deployed through multiple means, ultimately leading to a successful and safe visit," (Reporting and editing by Timothy Heritage Ron Popeski Stephen Coates).
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CANADA CRUDE-Western Canada Select trades at steepest discounts ever since March
The difference between the West Texas Intermediate benchmark futures and Western Canada Select futures, which is North American benchmark, has narrowed slightly on Thursday. However, it remains larger than ever before. CalRock reported that WCS for Hardisty, Alberta delivery in January settled at $12.85 per barrel, which is lower than the U.S. benchmark WTI. This compares to $13 Wednesday. The WCS discount on increased Canadian oil production has recently increased after spending most of the year in historically tight levels. This is largely due to the Trans Mountain expansion pipeline which has provided additional export capacity for Canadian oil producers. According to government statistics, the oil-producing province Alberta has set a record for production in 2024 with an average of 3.98 million barrels per day. The first 10 months of the year 2025 have been 3.8% higher than the same period of last year. * Oil prices fell globally on Thursday as investors waited for the Federal Reserve's interest rate cut. Meanwhile, the stalled Ukraine talks dampened expectations that a deal would be reached to restore Russian oil supplies. (Reporting from Amanda Stephenson, Calgary; Editing done by Maju Sam)
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Brazil 2026 Budget Sponsor proposes $1.9 Billion Exclusion for State-run Firms' Fiscal Target
Gervasio maia, the Brazilian congressman who sponsored the bill on budget guidelines for 2026, proposed to exclude up to 10 billion reals ($1.9 billion) of next year's fiscal goal for state-owned enterprises. According to Maia’s amendment, this amount will cover the expenses of companies that have an active and approved economic-financial plan. The proposal gives President Luiz inacio Lula da Silveira fiscal flexibility. It comes at a time when the postal service Correios is facing a cash crisis. Last month, it approved a restructuring program as its losses soared this year. This raised doubts over the viability of state-run Correios. The company reported a loss for the year to date of 6 billion reals ($1.13 billion), nearly three times the amount reported a year ago. The government has to compensate state-owned companies when they exceed their fiscal targets. This often means freezing federal spending. This is what happened with this year's Budget, when the government in November approved it. It was necessary to offset the 3 billion reais deficit that had been expected at state-owned firms due to Correios’ troubles. Maia removed from her proposal a clause on compensation. This effectively prevents the government from implementing it in the event that state-owned companies miss their targets next year. After the bill was passed, the change to the budget proposal for 2026 was announced ahead of the joint session of the Congress on Thursday. Committee approval is expected to be made on Wednesday. Correios stated earlier this week that the Treasury Blockage It was prevented from taking out a loan of 20 billion reais (3.67 billion dollars) from a bank consortium with a guarantee from the government because the interest rates exceeded the limit for deals backed by the state. ($1 = 5.3048 reales) ($1= 5.3133 reales) (Reporting and editing by Diane Craft; Marcela Ayres)
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Irish media reported that drones were spotted near Zelenskiy's flight path from Dublin.
Local media reported that an Irish navy ship saw up to five drones near the flight path for Ukrainian President Volodymyr Zelenskiy as he arrived in Ireland on Monday to make a state visit. Irish Times reported that the sighting caused a major alert due to fears of an attempted interference with the flight path. The Irish Times cited unnamed sources who said that the aircraft was not in danger, despite its arrival a little early. The Ukrainian delegation arrived on Monday late and left late the following day, as part of an effort to drum up support for Kyiv in Europe as Russia continues its war against Ukraine. Recent drone flights in Europe have disrupted airspace operations. Their origin is mostly unknown. Ursula von der Leyen, President of the European Commission, has called these incursions hybrid warfare. The Journal website first reported that drones were spotted at Dublin Airport. They said they arrived at the exact location where Zelenskiy’s plane had been expected to be, at the exact time it was due to pass. The authorities said they were conducting investigations to determine if the drones had taken off from a ship or landed on land. Both news outlets reported that they were first seen northeast of Dublin at a distance of around 20 km (12miles) from the airport. Ireland's Defence Forces stated that it could not comment on any specifics about any alleged incident for operational security purposes. A spokesperson stated that "however, the Defence Forces' support to An Garda Siochana's (police) security operation was successfully deployed by multiple means, ultimately leading to a successful and safe visit,"
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US investigations report that Waymo's self-driving car illegally passed 19 school buses in Texas
The U.S. government said Thursday that it had asked Waymo for more information after Texas officials claimed that Alphabet's self-driving cars had passed school buses illegally 19 times since the beginning of the school year. In October, the National Highway Traffic Safety Administration launched an investigation after an incident that occurred in Georgia. A Waymo was not stationary as it approached a school bus while its red lights were flashing and its stop arm was deployed. The Austin Independent School District posted a letter on November 20, 2018 by the NHTSA. In the letter, they stated that five incidents had occurred in November following the announcement from Waymo that it had updated its software to fix the problem. They asked the company not to operate around schools at pick-up or drop-off hours until it was able to ensure the vehicles wouldn't violate the law. Waymo didn't immediately respond to an inquiry for comment. A lawyer for the district wrote: "We cannot let Waymo continue to endanger our students as it tries to fix the problem." Citing an incident in which a Waymo was "recorded" driving past a school bus that had stopped only moments after the student who crossed in front, while still on the road, had been in front of the vehicle. A spokesperson for the school district did not respond immediately to whether Waymo had met this request. NHTSA was prompted by the letter to ask Waymo if it would comply to the request that self-driving vehicles cease operations during pick-up or drop-off hours for students. They also asked: "Was a software fix developed or implemented to mitigate this concern?" If so, will Waymo file a recall to fix the problem? In a letter sent to Waymo by the NHTSA on Wednesday, it demanded answers to questions about school bus incidents and software updates that address safety concerns. David Shepardson is reporting.
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US investigations report that Waymo's self-driving car illegally passed 19 school buses in Texas
The U.S. government said on Thursday that it had asked Waymo for more information after Texas officials claimed that Alphabet's self-driving cars had passed school buses illegally 19 times since the beginning of the school year. In October, the National Highway Traffic Safety Administration launched an investigation after a Georgia incident where a Waymo failed to remain stationary as it approached a school bus that had its red lights flashing with a stop arm deployed. In a letter published by NHTSA on Nov. 20, the Austin Independent Schools District stated that five incidents had occurred in November, after Waymo claimed to have made software updates to fix the problem. The district asked the company to stop operations near schools at pick-up or drop-off hours until it could be ensured the vehicles wouldn't violate the law. Waymo didn't immediately respond to an inquiry for comment. David Shepardson reports.
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Sources: Deutsche Bahn will return to profitability this year and next.
According to sources close the company, Deutsche Bahn will return to profitability this year and next, despite its underinvestment in trains and delays. After more than a decade underinvestment by the state-owned Deutsche Bahn, it has begun upgrading its tracks and overhead lines, as well as cutting administrative costs. This has led to major delays and cancellations across the country. Positive outlook is also a result of CEO Evelyn Palla's task to turn the company around. She took over on October 1. Palla will present her restructuring plan for the company at a meeting of the supervisory board scheduled to take place on Wednesday. Significant job cuts are expected. Deutsche Bahn has declined to comment. Sources said that the company expects a slightly positive profit before interest and tax (EBIT) in 2025 after a loss last year of 388 million euros. EBIT is expected to reach 500 million euros by 2026. The German Bahn also aims at reducing its net loss from 820 million euros to 180 million next year. Revenues are expected to stay stable, around 28 billion euro next year.
China's record hydro and solar cut coal power throughout heatwave: Kemp
China's electrical power intake smashed the previous record in July as a prolonged heatwave settled over significant load centres, particularly in the Yangtze Delta, driving a massive increase in airconditioning and refrigeration.
Unmatched load was met by record output from hydro and solar, making sure coal-fired generation fell somewhat compared with the very same duration a year previously, showcasing the quick improvement of the system.
Overall generation increased to a record 883 billion kilowatt-hours (kWh) in July from 846 billion kWh in the same month in 2023 and 806 billion kWh in 2022, according to the National Bureau of Statistics.
Much of the increase was down to an extended period of exceptionally hot weather in eastern regions, especially province-level areas pushing the lower reaches of the Yangtze, consisting of Shanghai, Zhejiang, Jiangsu and Anhui.
Chartbook: China electrical energy generation
Daily temperatures at Nanjing in the Yangtze Delta balanced 30.4 ° C compared to 28.7 ° C a year previously and about 2.5 ° C. above the long-lasting seasonal norm.
Nanjing temperature levels have actually been above regular in 42 of 50 days. considering that the start of July, pushing airconditioning and. refrigeration demand to a record.
The delta is home to 237 million individuals, 17% of the. country's total population, and represent 24% of nationwide. financial output, making it the largest load centre.
As an outcome, regional heatwaves can drive peak intake. across the whole national transmission network and draw in. power from provinces to the west and south.
Numerous cities and provinces in the delta required. conservation throughout the heatwave to lower electrical energy demand.
However overall the transmission system coped because record. usage was more than matched by substantial boosts in hydro and. solar generation in other parts of China.
RECORD HYDRO
Nationwide hydro generation increased by 45 billion kWh. compared to the same month a year previously while output from. solar farms was up by 10 billion kWh with a smaller sized boost. from wind farms of 5 billion kWh.
The outcome was that thermal generation, practically all from. coal, decreased by 25 billion kWh compared to July 2023,. in spite of record electrical energy need.
Unmatched amounts of hydro power were sent from. dams on the middle and upper reaches of the Yangtze eastwards to. the delta.
Hydro generation rose to a record 166 billion kWh in July. from 121 billion kWh in the very same month a year earlier, easily. passing the previous seasonal record of 146 billion in 2022 and. 2020.
After the dry spell lasting from the middle of 2022 to the end. of 2023, numerous monsoon rains allowed generators to make complete. use of freshly commissioned waterfall dams on the Yangtze system for. the first time.
Even now, huge volumes of water are still impounded. behind dams and in seasonal reservoirs for flood control, which. is most likely to sustain hydro generation at record seasonal levels. through August and into September.
SOLAR RISE
Electric reliability throughout the summertime peak was likewise. ensured by unmatched deployment of solar farms and record. generation from solar power.
Solar generation rose to a record 36 billion kWh in July. from 26 billion kWh in the very same month in 2023 and 21 billion kWh. in 2022.
Solar generation has actually been driven by a substantial boost in. set up capacity, which has more than doubled since the end of. 2021.
The figures do not include increasing quantities of. self-generation by property and commercial users from roof. solar panels.
COAL DOMINANT
Additional generation from hydro and solar minimized the system's. reliance on nonrenewable fuel sources throughout the summertime peak however it stayed. extremely high.
Thermal producers still accounted for 65% of all generation. in July below 71% in 2023 and 73% a decade earlier.
Thermal generation might be declining relative to other. sources of electricity but it has actually still grown in outright terms. over the last years due to the fact that total need has actually increased so quick.
Thermal generation amounted to 454 billion kWh in July, down. slightly from a record 471 billion kWh in last year's dry spell,. however up by a third from 340 billion kWh in 2014.
EFFECTIVENESS DRIVE
Most of China's finest sites for run-of-river dams have actually been. established, limiting additional gains in hydro output, though there. is increasing interest in pumped storage.
The federal government plans additional deployment of solar and wind to. boost sustainable generation and there are quickly increasing. quantities of small rooftop solar which will cut net load on. the transmission network.
Nuclear remains a small part of the system, accounting for. 5% of generation in 2023, though the federal government has actually authorized a. big reactor structure program which will enhance it substantially. by the end of the decade.
Nevertheless, more decreases in coal combustion depend upon. significant improvements in effectiveness among generators and users to. decrease coal-firing and sluggish load growth to permit renewables to. play an even larger role.
Associated columns:
- Global hydro rebound will curb nonrenewable fuel source growth in 2024. ( July 8, 2024)
- China's fast renewables rollout hits grid limitations (July 4,. 2024)
- China's hydropower generation surges and coal recedes (June. 18, 2024)
- China's transition obstructed by flat-lining energy. strength (April 26, 2024)
John Kemp is a Reuters market analyst. The views revealed. are his own. Follow his commentary on X https://twitter.com/JKempEnergy.
(source: Reuters)