Latest News
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Southwest Airlines re-evaluates its long-haul flight strategy
Southwest Airlines CEO Bob Jordan stated on Thursday that the company was looking into long-haul flights internationally and premium airport lounges to help it turn around. Jordan said that while the company would have to consider a wide body aircraft for international long-haul service, they could first choose a narrow-body to serve these routes. After the COVID-19 epidemic, the Dallas-based carrier has struggled to find its feet. It operates mostly domestic flights using a Boeing 737 fleet. The carrier's low earnings have increased pressure on it to change its business model. It now charges for checked baggage, ending the free policy. It also introduced a basic economy fare, and will switch to a new policy of assigned seats in January. Jordan has spoken in the past about the company's ambitions to launch flights to Europe. Southwest Airlines' lack of international long-haul flights has been criticized by industry experts as limiting its appeal to customers. Southwest Airlines has been expanding its network since February by partnering with Icelandair, China Airlines and EVA Air. The company said that it is looking at new partnerships around the world. Jordan, however, said that the company would like to service long-haul routes themselves. Jordan said that the company wants to service those long-haul international routes. Southwest Airlines once had a record of 47 years of profits in a row prior to the pandemic. Since then, Southwest has struggled with regaining sustained profitability. The margins of Delta Airlines and United Airlines are far smaller than those of Air Canada. Southwest has made many recent changes to attract high-spending tourists. Jordan stated that the company loses customers to other airlines because it does not currently fly to London or offer premium airport lounges. The lounges will also increase the loyalty revenue of the company, as the co-branded cards that the company offers to its customers will be more appealing. Jordan stated that "if we want to remain relevant, as the largest domestic airline, we have to continue meeting the needs of our clients." (Reporting and editing by Franklin Paul, Aurora Ellis, and Rajesh Kumar Singh)
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Urals Diffs stable in subdued Trading
The differentials between dated Brent and Urals crude were unchanged Thursday, amid quiet trading. Market participants are expecting Washington to increase pressure on India to stop purchasing the Russian grade. The nominee of Donald Trump for Ambassador to India, said that Washington and New Delhi are "not that different" in tariffs. He also said that Trump has been very clear about India's need to stop buying Russian crude oil. India is the biggest buyer of Russian Urals crude oil seaborne cargoes. OPEC data released on Thursday showed that Russian oil production rose in August by 50,000 barrels per day to 9,173 million barrels. PLATTS WINDOW On Thursday, no bids or offers for Urals BTC, Azeri BTC Blend or CPC blend were made in the Platts Window. The International Energy Agency reported on Thursday that Russia's revenues from crude oil and petroleum products fell in August, to the lowest level since the beginning of the conflict with Ukraine. Reporting by Lisa Shumaker; Editing by Lisa Shumaker
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US sues Uber for disability discrimination
Uber Technologies was sued by the U.S. Government on Thursday, accusing it of discriminating with passengers who have disabilities. The U.S. Department of Justice filed a complaint in San Francisco Federal Court alleging that Uber drivers refuse to serve people who have disabilities, such as riders traveling with service animals and stowable chairs. Uber and its drivers are also accused of imposing unpermissible surcharges, such as cleaning fees for service dogs and cancellation fees when riders are refused service. Some drivers insult and degrade people with disabilities or refuse to comply with reasonable requests, such as allowing passengers with mobility issues to sit in the front seats. The complaint stated that Uber's discriminatory behavior has caused individuals with disabilities significant emotional and physical harm. The lawsuit is seeking an injunction to prevent further violations of Americans with Disabilities Act. It also seeks changes to Uber’s practices as well as monetary damages, civil fines and an injunction. Uber didn't immediately respond to comments. The Justice Department didn't immediately respond to an inquiry for more information.
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Cuban capital returns to normal after national blackout
On Thursday, the Cuban Energy and Mining Ministry announced that 80% of Havana had power and the majority of the energy grid of the country had been restored 24 hours after its collapse, which left 9.7 million residents without electricity. Lazaro Güerra, the director of electricity at the Ministry, said that "electricity coverage is increasing and we will be generating about 1000 Megawatts today." The restoration process is progressing well. "We are nearing the end of the restoration process of the electrical system," said he. POWER SYSTEMS IN A LONG TERM CRISIS This system has been in crisis since years. It has a capacity effective of less than 2000 megawatts, and a demand for electricity of more than 3,000 MW. Before Wednesday's collapse, the majority of residents experienced daily blackouts lasting 16 hours or longer. Cuba's oil fired power plants, which were already outdated and struggled to keep the lights lit, reached a crisis last year when oil imports from Venezuela and Russia, as well as Mexico, decreased. This grid failure comes after four nationwide blackouts that began late last year. The Communist Party has launched a program to install 1,000 MW of solar energy this year, and another 1000 MW next year. As part of the worst economic crisis since decades, the country is also facing shortages in fuel, food and many other items. Sergio Serrano is a Havana resident who works for himself. Thalia Martinez, a housewife, was not sure. "I don't know what the government is doing to fix it. ... "It is the people that suffer, children, mothers, grandparents, the old, and this is very bad," said she.
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Nepal's protest movement targets the elite, from parliament to luxury hotels
Arsonists set fire to luxury hotels and residences as protesters stormed the Nepali parliament forcing the Prime Minister to resign. They were angry at the extravagant lifestyle of the wealthy in this poor country. The protests, also known as "Gen Z", as many participants were in teens or early twenties, caused Nepal's biggest upheavals in years. They forced K.P., an unpopular leader, to resign. Sharma Oli resigned on Tuesday after violence killed 19 protesters. Nepal's Health Ministry said that the death toll had risen since then to 34. More than 1,300 people were also injured. Leaders of Gen Z protest movement dissociated themselves from the arson attack, blaming the infiltrators. Analysts point out that frustration is growing over wealth inequality in Nepal as well as perceived corruption in Nepal's political leaders. Arsonists attacked hotels of five stars, such as the Hilton, Hyatt Regency, and Varnabas Museum Hotel, while the Parliament, Prime Minister's Office, and Supreme Court were still on fire. Bhushan Rane told the front desk manager of the hotel that protesters had damaged the Hyatt Regency. The property is located near Boudhanath Stupa which is one of the most popular Buddhist sites in Nepal. Rane said that neither guests nor staff members were injured. The hotel is closed due to political unrest. Nepal's economy is based on tourism. The Hilton Hotel was also set ablaze, sending plumes of black smoke into the air. The Kathmandu Hilton was opened last year by Shahil Agrawal, the scion of a Nepalese steelmaking business-turned-conglomerate, the Shanker Group. Hilton's spokesperson confirmed that the hotel had been evacuated after damage was sustained during protests. Guests and staff were also safely escorted out. The statement stated that a full assessment would be conducted of the building. Homes of politicians, including Oli, were also attacked. INEQUALITY In recent months, the Gen Z movement gained momentum around posts on TikTok and Instagram that purportedly showed children of Nepali political leaders living a luxurious lifestyle, including designer clothes and expensive vacations. In the meantime, every day thousands of people, mostly young, leave Nepal in search of better economic opportunities in places like Malaysia, South Korea, and the Middle East. Balaram K.C. is a retired Supreme Court justice and constitutional expert. He said: "This is the frustration of common people." He said, "You people are only taking care of yourselves and your family members and not anyone else." Rajendra Bajgain said that the arson attack on his luxury hotel Varnabas Museum also targeted guests. Bajgain, after the deaths of protesters, announced his intention to resign from the parliament. He also said that he sympathized with the Gen Z demonstrators. He said that the level of dissatisfaction with corruption in Nepal has been increasing for a long time.
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Trump nominates pilot to serve on Transportation Safety Board
According to Senate records, President Donald Trump has nominated an American Airlines captain and safety official for the National Transportation Safety Board. John DeLeeuw is the managing director for safety and efficiency at American Airlines, and a Boeing 777 captain. He has been appointed to replace Alvin Brown, a former appointee from the Biden administration, who was fired by the White House last May. The NTSB is responsible for investigating all major highway, rail, marine, and aviation accidents. The NTSB determines the probable causes of accidents and provides safety recommendations. If confirmed, John will be a great addition to the Board. Jennifer Homendy, Chair of the NTSB, said that she was excited by the nomination and would be working with John throughout the process. The United States has seen a rise in concern over aviation safety following the mid-air collision between a U.S. Army chopper and an American Airlines regional plane on January 29, which killed 67 people. A number of other incidents have also raised concerns, including a series of near misses around the country. Also, equipment problems and staffing issues at Newark Liberty International Airport in New York City disrupted hundreds flights. Two civilian planes were forced to abort their landings after a close call near the Pentagon on May 1, Washington. The President Donald Trump signed a law in July that approved $12.5 billion to improve air traffic control, including $2 billion towards the construction of the first new air traffic center en route since the 1960s. Trump is also nominating Surface Transportation Board Member Michelle Schultz to a second term, and Richard Kloster who runs a private transportation consultancy, for an open seat in the agency. The agency is currently evaluating the $85 billion proposed merger between Union Pacific and Norfolk Southern. Robert Primus was fired by the White House in late November after he had been appointed to the Surface Transportation Board by Biden's administration. (Reporting and editing by Mark Porter, Paul Simao, and David Shepardson)
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Russia reopens Krasnodar Airport in its southern region for the first time since the start of the war in Ukraine
The Russian authorities announced on Thursday that they had reopened Krasnodar's main airport, which is one of the biggest cities in southern Russia. Flights were suspended in 2022 for security reasons after the beginning of the Ukraine war. The transport ministry stated that it had solved outstanding security issues. It said the reopening would help local businesses and residents, and provide access to resorts on the Black Sea and Azov Sea coastline. Rosaviatsiya (the aviation watchdog) said that Krasnodar Airport, which had been completely overhauled, would receive its first flight regularly from Moscow when an Aeroflot plane is due to land on 17 September. Since the end of February 20, 2022, Russia has closed 10 airports due to security concerns. In July 2025, Russia will resume operations at Gelendzhik Airport, located in the same region of the south. Elista Airport, located in the Kalmykia Region, will be operational in May 2024. Andrew Osborn is responsible for reporting and editing.
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Sources say that Adani, the Indian company, has stopped accepting vessels sanctioned by the United Nations at its ports.
Adani Ports and Logistics has issued orders that show the Adani Group in India has stopped accepting vessels sanctioned by Europe, the U.S. and Britain. Adani has not yet commented. Adani operates 14 ports and has issued several orders with similar content. The order read: "To protect the legal and commercial interest of the Port, it is our intention to not accept sanctioned vessels." India, which is the largest buyer of Russian oil by sea, has tightened up its surveillance on vessels and transactions that involve Russian supplies. After the U.S. and EU imposed sanctions on vessels, traders, and companies, among others, to reduce Moscow's oil revenues, which are its lifeline, most Russian oil is supplied by shadow fleet. The orders stated that vessels sanctioned would not be allowed entry, berthing, or use of port facilities and services. The document stated that "at the time of nomination the vessel's agent must provide a written undertaking that the ship is not subjected to sanctions."
Canada accelerates major projects including gas plants, ports, and mines
Canada announced five major projects that would be eligible to receive fast-track approvals on Thursday as part of its campaign to diversify its economy and reduce the reliance on United States due the tariffs.
A major projects office has been set up by the government of Mark Carney to reduce red tape. Companies can spend a decade to get approval for a mine, pipeline or other project.
"We used build large things in this nation, and we used build them quickly." "It's time to get going again," said Prime Minister Carney at a televised news conference.
One of the five projects includes a plan to increase the production of LNG at the Shell-led LNG Canada facility in British Columbia's western province.
On the list are the plans of Foran to build a new copper mine in Saskatchewan, the expansion of Montreal's container terminal port, and the construction in Ontario of a small modular reactor. (Reporting and editing by Emelia Sithole Matarise; Reporting by David Ljunggren)
(source: Reuters)