Latest News
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Allegiant acquires Sun Country Airlines for $1.5 Billion
Allegiant, a low-cost airline, will buy Sun Country Airlines for $1.5 billion including debt. Sun Country shareholders receive 0.1557 Allegiant Shares and $4.10 cash per share. This values the stock at about $18.89. That's a 19.8% premium to the Friday closing price of $15.77. The deal will increase the number of destinations that the combined company can serve in the United States as well as on international markets. The fleet will consist of about 195 aircraft with options and additional orders. The combined company will have its headquarters in Las Vegas and is expected to generate annual synergies of $140 million by the third full year following the closing. In addition, the transaction should increase earnings per share in the first year. The transaction is expected to be completed in the second half of 2026. After the merger, Allegiant shareholders and Sun Country investors will own approximately 67% and 33 % of the combined company. Allegiant CEO 'Gregory Anderson' will be the chief executive of the combined company, Robert Neal as president and chief financial officers. Sun Country CEO Jude Bricker joins the board of director.
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Nordics reject Trump’s claim that Chinese and Russian vessels are near Greenland. FT reports
Financial Times reports that Nordic diplomats have rejected Donald Trump's claim of Russian and Chinese vessels near Greenland. The FT reported that there have been no signs in recent years of Russian or 'Chinese' ships?or subs around Greenland, citing senior Nordic diplomats who had access to NATO intelligence. The report could not be verified immediately. The White House as well as NATO have not responded to comments. It is simply not true. I've?seen intelligence. The FT quoted a senior?diplomat who said, "There are no submarines or ships." A second Nordic diplomat has said that claims that Russian and Chinese vessels were "crawling" in the waters surrounding Greenland are unfounded. They added that this activity is on the Russian side of the Arctic. Trump has repeatedly said that Russian and Chinese ships are operating near Greenland. Denmark disputes this claim. He hasn't provided any evidence. Trump said that the U.S. should own Greenland - an autonomous part within the Kingdom of Denmark - to stop Russia or China from occupying this strategically located, mineral rich territory. Lars Lokke Rasmussen, Danish Foreign Minister, said this week that the image of Russian and Chinese vessels right inside?Nuuk Fjord with massive Chinese investments is incorrect. MarineTraffic data and LSEG vessel tracking data show that there are no Chinese or?Russian ships near Greenland. Greenland’s Assembly said late Friday that it would convene a meeting on Monday to discuss the response to U.S. threat to take control of island. Trump's renewed push to get Greenland after the U.S.'s military intervention in Venezuela worries many of Greenland's 57,000 residents, who have a common goal to become an independent country.
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Dar Global and Trump Organization Launch $10 Billion Saudi Developments
Ziad El Chaar, CEO of Saudi real estate developer Dar Global, announced on Sunday that two Trump-branded luxury projects will be launched in Riyadh (Saudi Arabia) and Jeddah (Jordan). Chaar said that the projects include the Trump National Golf Course in Riyadh and the Trump International Hotel at Diriyah. This is a massive project located on the western edge of the Saudi capital. Chaar said that a mixed-use development called Trump Plaza is planned for Jeddah. Chaar stated that the projects were in line with Saudi Arabia's Vision 2030, which aims to diversify its economy and move away from oil. The aim is to attract direct foreign investment. Saudi Arabia will also allow foreigners to own property in certain areas for the first-time starting this month. According to Eric Trump, son of U.S. president Donald Trump and executive vice-president of the Trump Organization, the latest in a long line of partnerships between the Trump Organization and Dar Global (the international arm of Saudi developer Dar Al Arkan) is expected to be completed within the next four or five years. (Reporting and editing by Tomasz Janovski and David Goodman in Riyadh)
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Maersk is exploring more ethanol for green fuel in order to reduce its reliance on China.
The Financial Times published an interview with Maersk's CEO, Vincent Clerc, on Sunday. This could reduce the company's dependence on China, and help the industry to decarbonise. Clerc stated that the U.S. and Brazil are the leading producers of ethanol in the world. Clerc?told FT that if all the benefits are concentrated in China then some countries may object. But if they're more evenly distributed then many more will be supportive ?.?.?. It will allow more countries to see the benefits of the green transition. The shipping industry is more difficult than others to reduce emissions. This requires expensive retrofits for existing vessels or new ships that are able run on efuels. Hapag-Lloyd?and North Sea Container Line (NCL), two shipping companies, won a tender late last year to use low-emission fuels made from hydrogen on container ships starting in 2027. The contract will run for three years. (Reporting from Gnaneshwar rajan in Bengaluru, editing by Kate Mayberry.)
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Ukrainian drone attack injures four, damages buildings in Russia's Voronezh, governor says
The governor of Voronezh Region said that an overnight Ukrainian drone strike inflicted injuries on at least four people and caused damage to a number of buildings. The governor Alexander Gusev said on Telegram that an emergency service facility, six houses, and seven apartment buildings were damaged by the attack. The?reports could not be independently verified. Ukraine claims that it has been attacking targets in Russia since the Kremlin launched its war nearly four years ago. This is in response to the repeated drone and missile attacks on Ukrainian cities and infrastructure. Russia launched a missile at a Ukrainian site near NATO member Poland on Friday, an attack Kyiv's European partners characterized as a ploy to dissuade them from continuing their support for Ukraine. (Reporting and editing by Alistair Bell in Melbourne)
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Mississippi man accused in killing six people, including a 7-year old child and a pastor
Officials from law enforcement said that a man was arrested and charged for first-degree homicide in the deaths of six people on Friday night, including a young child, in Clay County, Mississippi. Clay County Sheriff Eddie Scott announced on Saturday that Daricka Moore, 24, is suspected of killing several members of her family and a pastor in the area before she was taken into custody. Officials said that the charge against Moore is likely to be upgraded to capital murder and a death penalty could be imposed if he is found to have mental competency. This is horrible. "This is as bad as it gets," said Scott Colom. He's the district attorney of Mississippi's Sixteenth Circuit Court. His jurisdiction includes Clay County. Scott claims that Moore shot his father, brother and uncle in the head, killing them, on Friday night. He then stole a truck, drove to another location, where he attempted to sexually abuse a 7-year old girl who was related to him before shooting her dead in the head. The?law enforcers responded to the 911 call and were directed to a third location where they found two other males who had been fatally shot. One of those men was a pastor from the area. Moore was arrested at a nearby area 'just before midnight', Scott reported. Scott stated that the motives of the murders were unknown. Scott said at a press conference that the incident had "really?shaken" his community. "I personally don't know why someone would kill a seven-year-old." Scott stated that autopsies will be conducted by the Mississippi Crime Lab. Moore will appear in court Monday. Clay County is located in northeastern Mississippi. It has a population close to 20,000. (Reporting and editing by Sergio Non in Houston, Mark Potter and Rod Nickel.
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Local media and law enforcement say that a suspect has been arrested after six people were killed in Mississippi
Local news outlets and police have not provided any additional information, but say that at least six people died after being shot in Clay County, Mississippi. The suspect is in custody. According to WTVA (an NBC News affiliate), the deaths took place at?three separate shooting locations. Eddie Scott, the Clay County Sheriff, announced on social media that the suspect was "in custody" and no longer posed a threat to 'our?community. WTVA reported that six people were killed. Scott and the Sheriff's Department did not immediately respond to an?ask for comment. Scott posted on Facebook: "I ask you to lift up our victims and their families in your prayers." Clay County is located in the?northeast part of Mississippi. It has a population close to 20,000. Reporting by Ernest Scheyder. (Editing by Sergio Non, Mark Potter and Mark Potter.
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Four tankers, which had left Venezuela in "dark mode", are now back in its waters
Four tankers, the majority of which were loaded, left Venezuela early in January in "dark mode" - that is, with their transponders turned off despite a "strict" U.S. blockade. According to the state company PDVSA, and the monitoring service TankerTrackers.com, the blockade is now in place. Last month, a flotilla consisting of at least three empty ships and a dozen vessels with cargo left Venezuelan waters. This was in apparent defiance to an embargo that President Donald Trump imposed on Venezuela since mid-December. The U.S. seized the?supertanker M Sophia with a Panamanian flag this week as it returned to the country. Another Aframax Tanker Olina, flying a Sao 'Tome and Principe flag, was also?intercepted, but was released to Venezuela Friday by state company PDVSA. Tankertrackers.com spotted three more vessels in Venezuelan waters on Friday night through satellite images. These were the Panama-flagged Merope and Cook Islands-flagged Min Hang, as well as Panama-flagged Thalia III. U.S. authorities had announced on Friday that Olina, formerly known as Minerva m, would be released. They said that the next step in the negotiations between Caracas, Washington and the U.S. for a $2 billion oil deal would be to begin organized crude exports. Donald Trump, the U.S. president, said that arrangements had been made for a supply of oil in a meeting with executives from top oil companies on Friday. Sources said that Vitol, Trafigura and other global trading houses received the first U.S. licensing to carry Venezuelan exports and to negotiate with Venezuela. Naphtha is also expected to be supplied to the OPEC nation, according to sources. Marianna Pararaga, Julia Symmes Cobb and Marianna Parraga contributed to this report.
Cuba's power grid fails, plunging country into darkness
Cuba's national electrical grid closed down on Friday after among the island's. major power plants stopped working, Cuba's energy ministry said, plunging. the whole nation into a blackout.
The Communist-run federal government earlier in the day closed. schools and non-essential market and sent a lot of state workers. home in a last-ditch effort to keep the lights on for homeowners.
However quickly before midday, the Antonio Guiteras power plant,. the nation's biggest and most efficient, went offline,. triggering a total grid failure and leaving around 10. million individuals without power.
There will be no rest up until (power) is restored, Cuban. President Miguel Diaz-Canel stated on X.
The crisis had actually already triggered authorities to cancel all. non-vital federal government services. Schools of all levels including. universities, have actually been shuttered through Sunday. Recreational. and cultural activities, including club, were also. ordered closed.
The government said only essential employees of the. state-run food and healthcare markets must report to work. on Friday.
Grid officials said they did not understand the length of time it would take. to re-establish service.
The crisis marks a new low on an island where life has. become increasingly intolerable, with locals currently suffering. from shortages of food, fuel, water and medication.
Practically all commerce in Havana was closed down at midday on. Friday. The hum of privately-owned generators could be heard in. some homes and restaurants, and numerous citizens sat sweating on. doorsteps with windows open as the sun broke through the clouds.
Prime Minister Manuel Marrero on Thursday blaming continuous. rolling blackouts during the previous several weeks on a best. storm well-known to most Cubans - deteriorating facilities,. fuel scarcities and increasing need.
The fuel scarcity is the most significant element, Marrero said in a. telecasted message that was garbled by technical problems and. postponed a number of hours.
Strong wind and heavy seas that started with Hurricane Milton. recently have actually maimed the island's ability to deliver limited. fuel from boats offshore to its power plants, authorities stated.
Cuba's government also has actually long blamed the U.S. Cold War-era. embargo, along with a fresh round of sanctions under former. President Donald Trump, for difficulties in acquiring fuel and. spare parts to run its oil-fired plants.
The island's 2 largest power plants, Felton and the. now-offline Antonio Guiteras, are both under-producing, the. government said, and require immediate upkeep, part of a. four-year plan to revitalize Cuba's run-down infrastructure.
Cuba's fast-growing personal companies, which have. contributed to increased demand on the island, will be charged. higher rates for the energy they consume to make up for. shortfalls, Marrero said.
FADING SHIPMENTS
While demand for electricity grows, fuel supply has all but. dried up on an island that produces relatively little of its. own.
Cuba's biggest oil supplier, Venezuela, has actually lowered. deliveries to the island to an average of 32,600 barrels per day. in the first 9 months of the year, about half of the 60,000. bpd sent out in the very same duration of 2023, according to. vessel-monitoring data and internal shipping files from. Venezuela's state business PDVSA.
PDVSA, whose refining facilities is also ailing, has. this year attempted to prevent a new age of fuel scarcity in your home,. leaving smaller volumes offered for export to allied countries. like Cuba.
Russia and Mexico, which in the past have sent fuel to Cuba,. have likewise considerably lowered shipments to the island.
The deficiencies have actually left Cuba to fend for itself on the far. costlier area market, at a time when its government is near. insolvent.
Electrical power officials stated they nonetheless expect power. generation to improve in the coming days as the weather condition allows. fuel from prior shipments to be distributed around the. Caribbean's biggest island.
(source: Reuters)