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Officials see'massive chaos' as a result of the shutdown, which may force US to shut down some airspace next week.
Transportation Secretary Sean Duffy warned on Tuesday that if federal government shutdown continued another week, it could cause "mass confusion" and force him to shut down some national airspace for air traffic. This drastic measure could disrupt American aviation. "If you take us back to a week's time, Democrats, there will be mass chaos and mass flight delays." Duffy told a Tuesday press conference that you'll likely see a lot of cancellations and we may even close some parts of the airspace because we can't manage it. U.S. Aviation has already experienced tens and thousands of delays in the last month. These comments were the most dire warnings from the Trump administration about impending effects of rising air traffic control absences. The Federal Aviation Administration (FAA) delayed flights again on Tuesday as the shutdown entered its third week. Airlines reported that 3.2 million passengers were affected by flight delays or cancellations this week due to an increase in air traffic controller absenteeism. FAA Administrator Bryan Bedford said on Fox Business' "Varney & Co." that in the 30 largest airports of the FAA, "anywhere between 20 and 40% of our controllers don't come to work." Democrats accuse Republicans of not negotiating to reopen government with them. The shutdown has worsened the staffing shortages. 13,000 air traffic control officers and 50,000 Transportation Security Administration agents have been forced to work without pay. In 2019, disruptions to air travel forced lawmakers to end a 35-day shutdown of the government during Donald Trump's inaugural term. Duffy said he would shut down the U.S. Aviation System if the shutdown made it too dangerous to travel. The FAA reported that on Friday, nearly half of America's busiest airports were facing shortages of air traffic control in the worst single day since the shutdown started. The agency reported that 80% of the air traffic controllers in New York were absent on Friday. David Shepardson, David Gregorio and David Shepardson contributed to the report.
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Hertz soaring after swinging third-quarter profits
Hertz Global reported a profit for the third quarter after almost two years, thanks to used car sales and an updated fleet of rental vehicles. The company's shares rose by 42% on Tuesday. In order to combat a decline in rental activity, the company has tried to diversify its operations by overhauling its vehicle fleet. It also offers a marketplace for online car purchases. In recent years, a slump in demand led it to sell off a large portion of its electric vehicle fleet and replace them with gas-powered vehicles. Hertz sold off a majority its Teslas in the past year citing increased repair costs. Hertz earned an adjusted 12 cents per diluted share in the third quarter. This compares to analysts' estimates of 2 cents a share, according LSEG. Its quarterly revenue was down 4%, to $2.5 billion compared with a year earlier. However, it still exceeded estimates of $2.4billion. Nathan Gomes, Bengaluru. Edited by Shreya Biwas.
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Lula: CELAC summit will discuss Venezuela and US military presence
The Brazilian President Luiz inacio Lula da silva said on Tuesday he would discuss Venezuelan issues and the increased U.S. presence in Latin America during the CELAC Summit at the end of this month. He told reporters in Belem, ahead of the COP30 Climate Summit: "The CELAC Meeting only makes sense if we are going to talk about the U.S. Warships." In recent months the U.S. has increased its military presence in Caribbean, and U.S. president Donald Trump said his administration would carry out strikes on drug-related targets in Venezuela. Lula stated that Venezuela has a political issue that must be addressed in the political arena. He added that he told Trump during a recent encounter that Latin America was a region that is peaceful, not violent. (Reporting and writing by Isabel Teles, Lisandra Paraguassu, Katy Daigle)
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Lula says Brazil will seek independent probe into 'disastrous' Rio police raid
The Brazilian president Luiz inacio Lula da silva said on Tuesday that his government would push for an independent investigation into the raid by police last week, which killed 121 people including four police officers. He told reporters in Belem, ahead of the COP30 summit on climate change: "It is important to know under what circumstances it occurred." "The judge ordered arrest warrants, not mass killings - yet there was mass killing." The October 28 operation was the deadliest ever in Brazil's recent history. The operation on October 28 targeted the Comando Vermelho, a gang that controls drug trafficking in a number of favelas (poor, densely-populated neighborhoods) woven into the city's hills. Rio de Janeiro state officials described it as a success. Claudio Castro, the state governor, said that the "only true victims" were the officers who were killed and all others were criminals. The raids highlighted a complex scenario for Lula. A leftist, Lula has tried to reconcile growing public support and international concerns about human rights violations. "The truth is, some people may view the operation's death toll as a success. Lula stated that he believed the state's response was disastrous. (Reporting and writing by Katy Daigle, Lisandra Paraguassu, Paul Simao; editing by Gabriel Araujo)
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Stellantis recalls 375 000 Jeep SUVs due to fire hazards, and urges owners not to park them in the garage.
Stellantis announced Tuesday that it was recalling 375,000 plug in hybrid Jeep Wrangler SUVs and Grand Cherokee SUVs around the world due to battery failure. The company received 19 reports of fires. Owners were advised to park their vehicles outside until the fix is complete. The recall affects some Jeep Wrangler and Grand Cherokee SUVs from 2020 to 2025. The company stated that a recall remedy will be imminent, but until then owners should park far away from structures, and refrain from charging their vehicles due to fire risks. Stellantis informed the National Highway Traffic Safety Administration that it received reports of 19 fires, and 1 injury related to this issue. Around 320,000 of these recalled vehicles are located in the United States. The automaker stated that the batteries were manufactured by Samsung SDI. Stellantis and Samsung SDI conducted an investigation to determine that the fire in early this year was the result of the same defect as reported by 2024 for 154,000 plug-in Jeep EVs following reports of two injuries. NHTSA says that vehicles that have been repaired in 2023 or 2024 after recalls will need to be repaired again. Samsung SDI didn't immediately respond to our request for comment. Stellantis reported that it received nine reports of battery fires in Jeep Wrangler plug-ins and Grand Cherokees that were recalled in 2024. It also received 10 reports of fires in batteries that weren't part of the recall. Samsung SDI believes that the root cause of the problem is likely to be a combination of damage to the separators and other complex interactions in the battery cells. In October, the Franco-American automaker recalled over 298,000 U.S. cars citing a potential rollaway danger. Reporting by David Shepardson, Washington; Ananya Palyekar, Bengaluru. Editing by Kevin Liffey.
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US Government shutdown sets record as Congress inaction has a toll
The U.S. shutdown entered its 35th consecutive day on Tuesday, matching the record for longest government shutdown in history set by President Donald Trump during his first term. Republicans and Democrats continue to blame one another for the standoff. The cost is increasing every day. The first time food assistance was stopped for the poor, federal employees from airports, law enforcement and military go unpaid and economy is blinded by limited government reporting. Senate votes against stopgap measure of funding passed by House of Representatives more than 12 times, and lawmakers have not changed their positions. Trump's Republicans have a majority of 53-47 in the Senate, but they need at least seven Democrats' votes to reach the 60-vote threshold. Democrats withhold their votes in order to get an extension of certain healthcare insurance subsidies. John Thune, the Republican Senate majority leader, said Monday that "the victims of Democrats' shutdown have started to pile up." The question is, how long will Democrats continue to do this? Another month? Two? Three?" Chuck Schumer, his Democratic counterpart, pointed out on Monday that Trump's focus has shifted elsewhere. "While Donald Trump brags about remodeling bathrooms at White House, Americans panic about how they'll afford healthcare next year," Schumer stated, referring to the remodeling Trump revealed on Friday. There was a rumor that spread through the Senate on Monday about the possibility of progress in the closed-door discussions between the two sides. A SHUTDOWN LIKE ITS PREDECESCESSORS The 15th shut down since 1981 is notable not only for its duration. The shutdown has reversed the usual partisan dynamic where shutdowns are often triggered by Republicans. The latest shutdown has also been met with little effort. Trump has frequently left Washington and the House has not been in session since September 19. The political climate, as well as the tensions between the parties, were very high at the start of the shutdown. Even though the bipartisan talks continued, they are still at this stage just the same," said Rachel Snyderman. She is the managing director for economic policy at Bipartisan Policy Centre. The SNAP program, which provides food assistance to 42 million Americans, expired on Saturday. Food stamps, which average $180 per family per month, are no longer available to many families. The Trump administration announced on Monday that it will partially fund the November food assistance but warned it could take several weeks or even months to distribute it. As of November 1, new funding for Head Start programs for low-income families was not available. The federal workers, such as law enforcement, military personnel, airport security screeners, and air traffic control, are not receiving their paychecks. This has led to staffing issues and travel delays. An airline group reported on Monday that more than 3.2 millions U.S. passengers have experienced delays or cancellations as a result of the shutdown. According to the Congressional Budget Office, the shutdown will cost the U.S. $11 billion if the shutdown continues for another week. The U.S. Federal Reserve has limited data to use in determining jobs and economic trends as it steers its policy. The American Federation of Government Employees (AFGE), the largest federal union, has pushed for a funding stopgap measure, which the Democrats voted against. TRUMP ADMINISTRATION TESTS SHUTDOWN BORDERS During the shutdown Trump focused on foreign affairs, from Gaza to Russia and Asia. Recently, he has gotten more aggressive and called for Republicans to eliminate the Senate's filibuster limit of 60 votes. When asked if he would be willing to broker a deal with the Democrats, Trump said on CBS' "60 Minutes", "I won't do it by being forced by Democrats who are lost." He urged Senate Republicans again on Tuesday to act, or risk losing the midterm elections next year. "Elections including the Midterms will be brutally harsh. "If we terminate the Filibuster we will get everything approved... If we don't, they are more likely to do very well in the next Elections," wrote he in a post on social media. Thune has repeatedly rejected the idea. According to a recent /Ipsos survey, Americans blame both the Republicans and the Democrats for the shutdown. 50% of respondents blamed the Republicans while 43% blamed the Democrats. Three moderate Democratic Senators voted along with Republicans to reopen the government. They argued that the immediate damage of the shutdown far outweighed any long-term benefits. Some Democrats claim they are waiting for Republican concessions to assert congressional funding power in response to Trump's executive overreach. In a hallway conversation, Senator Andy Kim of New Jersey, a Democrat who voted against stopgap bills, stated that "the trust deficit has existed for a very long time due to how Trump has acted." "This is a major challenge we face right now, any deal that we get, how can we be sure that a contract is going to work?"
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Expeditors, a logistics firm, reports positive results amid tariff tensions that boost brokerage demand
The global freight forwarder, Expeditors of Washington, reported a third-quarter profit that was above Wall Street expectations on Tuesday. This was due to strong airfreight volume and an increase in demand for their customs brokerage service. Early trading saw the company's stock rise 5%. The tonnage of air freight carried by expeditors increased 4% during the quarter reported, mainly due to shipments from Asia. This was due in part because the previously limited air capacity became more available after the 'de minimis exemption' for goods entering the United States expired. Sources in the industry say that the company also benefits from a higher demand for its brokerage service, due to President Donald Trump's changing U.S. Trade Policy, which keeps shippers busy with customs clearances. This trend has also increased costs of these services. "Our customs broker business continues to grow strongly amid a sustained demand, driven by a dynamic trading environment," CEO Daniel Wall stated. He added that the rising volume and complexity of entries are continuing to be a challenge for this segment. Airfreight revenue increased to $1.02billion from $986.9m last year. Customs brokerage reported $1.13billion in revenue compared to $995.6m a year ago. Expeditors ocean freight and service division saw revenue fall to $746.9 million, from $1.02billion a year ago. This was due to price volatility and lower shipment volume as importers pushed orders forward in anticipation of tariffs. According to LSEG data, the Seattle-based company posted quarterly revenue of 2,89 billion dollars, exceeding analysts' estimates of $2,73 billion. It reported a quarterly profit of 1,64 cents per share. This was above the $1.40 expected per share. Reporting by Abhinav Paramar; Editing and proofreading by Shakesh Kuber
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Eight people killed in train crash in central India
Officials said that at least eight people died and others were injured in a collision between a passenger train and a goods train on Tuesday morning, which occurred in central India's state of Chhattisgarh. Arun Sao, deputy chief minister, told reporters that the goods train was stopped at the time of accident and that the passenger car crashed into it behind. The first few carriages were damaged. The first carriage of a passenger train was partially perched on top of the last carriage of a goods train as rescuers and police tried to free survivors. A crowd watched the incident from parallel tracks. The railway authorities announced that a thorough investigation would be conducted into the incident. India's railway system is the fourth-largest in the world. It has undergone a $30 billion transformation, with new trains and stations. Rail accidents are common in India. In 2023, three trains collided, killing 288 in the state of Odisha in the south.
Argentina minimizes energy subsidies, requires fresh investment
Argentina minimized its energy subsidies in the first seven months of the year by $2.7 billion, Energy Secretary Eduardo Rodriguez Chirillo stated on Thursday, as part of an objective to curb the government's fiscal deficit while likewise working to promote investment in the energy sector.
The South American nation aims to advance an enthusiastic reform bundle that includes guarantees for large investments, a. new hydrocarbon law, and changes to its foreign exchange system. aimed at securing dividend repatriations for foreign investors,. all part of President Javier Milei's relocate to protect capital.
Rodriguez Chirillo told business people in Houston that. Argentina achieved an energy trade balance surplus of $2.9. billion between January and July, a change from deficits in. previous years.
Our objective in the new design is that the financier can. design his own design ... and knows that he deserves to. export, stated Rodriguez Chirillo.
The guv of Neuquen province, home to the nation's. giant Vaca Muerta shale oil and gas reserves, said at the. conference that Argentina should quickly move far from foreign. exchange controls to bring in oil and gas investment.
We can increase by six the (oil and gas) production we. can offer to the world, Guv Rolando Figueroa stated, including. that clear guidelines, a brand-new legal framework and an excellent. administration of resources are vital to attain output. objectives.
PROGRESSING
In a sign of a new wave of financial investment starting, oil and gas. manufacturers are revealing output expansions, midstream projects. including terminals and key pipelines for exports, and the. arrival of much-expected drilling equipment, officials said.
A great deal of capital is required, Marin said. For melted. natural gas (LNG), $55 billion are needed.
An oil pipeline YPF is developing from the Vaca Muerta shale. area will have capability of 350,000 barrels each day next year,. and greater than 700,000 bpd in 2028 once a 2nd stage is. finished, expanding the nation's crude export capacity, Marin. said.
YPF remains in talks with U.S. pipeline giant Energy Transfer. about ending up being the operator, Marin added. A spokesperson. for Energy Transfer did not reply to a request for comment.
Pluspetrol is interested in participating in LNG. jobs in Argentina, where the Vaca Muerta development is. located, stated Julian Escuder, the business's country manager.
A minimum of 2 big jobs to produce and export LNG in. Argentina are under discussion: one involving Malaysia's. Petronas to construct floating LNG plants, and another by. Tecpetrol that might include modular onshore centers.
Pluspetrol plans to drill up to 25 wells each year in. Vaca Muerta between 2025 and 2029, Escuder stated.
U.S. driller Nabors Industries is providing a drilling. rig for work in Vaca Muerta's Fortin de Piedra location, Tecpetrol. CEO Rocardo Markous stated at the meeting.
(source: Reuters)