Latest News
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Musk predicts that Tesla's Full Self-Driving Software will win China's full approval in early 2026
Elon Musk, CEO of Tesla, said that he expected the Full Self-Driving Software, an automaker's driver assistance system to be fully approved in China by early next year. Musk said at the annual general meeting of his company on Thursday that "we have partial approval in China and we hope to have a complete approval in China by February or March." The China's Industry Ministry did not respond immediately to a comment request. China is Tesla's largest market, but its share of the market has fallen to 8% from a high of 15.4% during the first quarter 2023. Local brands are winning over customers by offering similar features of driving assistance, many times at no additional cost. Since February, the Tesla system (also known as FSD) has been approved partially in China. Tesla owners were able to use an older and less expensive autopilot system before. Some Chinese Tesla owners paid 64,000 yuan (about $9,500) for FSD in the hope that the full rollout wouldn't take too long. However, the failure of the FSD to be approved has been a major source for friction between Tesla owners and the automaker. FSD is only partially approved in China, which means it falls short of the capabilities that FSD has in the United States. In China, it is illegal to change gears. This means that the vehicle cannot complete a journey from one parking spot to another on its own. It has also been difficult for the system to identify local traffic signs in China.
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Belgium's Liege Airport temporarily closed again due to drone sighting
The Belgian airport of Liege has resumed flight after a temporary stop due to a sighting of a drone, the country’s air traffic service announced on Friday. This is the second incident in this week. Skeyes, the Belgian air traffic control service, said that it had received a report about a drone flying over the airport at 06:30 GMT. The airport was closed for 30 minutes. Kurt Verwilligen said, "We must take every report very seriously". Flights had resumed, he said. He added that flights had resumed. Drones flying over military bases and airports have been a problem in Belgium for the past few days. They have also caused major disruptions in Europe. In Sweden, airports were temporarily closed on Thursday. Some officials blamed the incidents upon "hybrid war" by Russia. Moscow denies any involvement in the incidents. On Thursday, the Belgian government convened an emergency meeting with key ministers of government and security officials to discuss what the defence ministry called a coordinated assault. (Reporting and editing by Alessandro Parodi, Benoit van Overstraeten)
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Wizz Air defers Airbus deliveries, cuts long-haul jet orders
Wizz Air announced on Friday that it would delay the delivery of 88 Airbus aircraft to 2033 from 2030 and reduce its commitment to long haul jets, as the budget carrier seeks to maximize profitability. Wizz also converted 36 A321XLR jets with a long range to A321neo jets, reducing the total A321XLR order to 11 planes from 47 previously, and keeping its 273-plane orderbook unchanged. Wizz Air, a Hungary-based airline, has struggled to compete with other European carriers in recent years due to engine problems with its Airbus aircraft. This led it to miss its first-quarter profits targets in July. The airline announced on Friday that it would have a fleet of only fuel-efficient, neogeneration aircraft by the year 2029. (Reporting from Raechel Thankam Job in Bengaluru and Yadarisa Shabbong; editing by Rashmi aich)
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IAG, the owner of British Airways, reports a third-quarter profit that is in line with expectations
IAG, the owner of British Airways, reported on Friday a slight rise in operating profit in the third quarter. This was in line with expectations, but it highlighted a continuing weakness in their U.S. economy cabin point-of sale offering. The airline is the latest to announce a decline in transatlantic travel since the election of Donald Trump. His policies, which are seen by many as anti-foreigner, anti-trade and anti-trade abroad, have impacted the market. The group, which owns Iberia and Vueling, also said that its passenger load factors - a measure of performance used to evaluate the performance of airlines - had fallen in all regions. Most pronounced being A 2.4-point decline on lucrative North Atlantic routes. The company's consensus estimate for its three-month profit ended on September 30 was 2.1 billion euro, which is 2% higher than the previous year. Reporting by Yamini Kalya and Shashwat AWASTHI in Bengaluru, Editing by Sherry Phillips and Josephine Mason
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India's highest court declares that the Air India crash report is not a slander against the pilot
India's highest court announced on Friday that the preliminary report of an Air India crash in which 260 people died in June did not implicate anything against the captain. However, it will listen to a request from the father of the pilot on November 10, for an independent investigation. After criticising the government's investigation, 91-year old Pushkar Raj Sabharwal called for an independent investigation to be conducted by a panel led by a retired Supreme Court Judge. He claimed that two officials of India's Aircraft Accident Investigation Bureau, who visited him, had suggested that his son, pilot Sumeet Saharwal, had cut the fuel supply to the plane's engines after takeoff. The investigation was described as "very thorough" and "very clean" by the government. India's air accident investigation body published a preliminary report in early this year that said the fuel engine switches on the plane had switched from run to shutoff almost simultaneously just after takeoff. (Reporting and writing by Arpan Chaturvedi, Delhi; editing by Mrigank Dahniwala and Michael Perry).
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Honda reduces annual operating profit after Q2 decline
Honda Motors cut its annual profit projection by about a fifth, and reported a 25% decline in its operating profit for the second quarter on Friday. Its performance was hit by U.S. tariffs on imports and one-off expenses related to electric cars. The second largest automaker in Japan has lowered its operating profits forecasts for the year up to March 2026 from 700 billion yen to 550 billion ($3.65 billion). The new forecast factored in an expected decline in production volume due to a shortage of chips. Honda reported a 194-billion-yen ($1.29-billion) profit from July to September, compared to the 212.1-billion-yen average profit that nine analysts surveyed by LSEG expected and a 257.9-billion-yen profit during the quarter of July-September in 2024. $1 = 150.7800 Japanese Yen (Reporting and editing by Himani Sarkar).
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InPost, a parcel locker company, trims its annual earnings forecast
InPost, a Polish parcel locker company, reported on Friday a 24% increase in its core earnings for the third quarter. However, it lowered its expectations for the full year citing increased investments in Britain. Analysts had expected a quarterly adjusted earnings of 1.02 billion zlotys, or $291 million. InPost now expects to see its adjusted EBITDA grow by a midteens percentage, as opposed to its previous forecast of a low to midtwenties percent growth. The forecasts of annual group revenue and volume remained unchanged. In the third quarter of 2018, the company delivered 351,5 million parcels. This is a 34% increase on the previous year. The volume in Poland, the company's biggest market, grew by 10%, accelerating from the 6% increase seen in the second-quarter, which was affected by lower volumes at its main customer, ecommerce company Allegro.
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The Fujian, China's third aircraft carriers, is put into service
China's first aircraft carrier, designed by itself, has been commissioned after several months of sea trials. It was named the Fujian after the province that faces Taiwan across the narrow strait. The official Xinhua News Agency reported that President Xi Jinping was at the ceremony to commission and present the flag of the Fujian, in Hainan Province, on Wednesday. He also boarded the ship for an inspection tour. The Fujian, China's third aircraft-carrier, has a flat flight-deck and electromagnetic catapults to take off. This makes it a far more powerful weapon than China’s first two Russian designed carriers. The Fujian carrier will be able carry more jet fighters and those with heavier weapons than the Liaoning or Shandong carriers. These carriers are smaller and use ramps to launch their aircraft. The Chinese Navy launched a new carrier-based version of its J-35 stealth aircraft and a KJ-600 early-warning plane, along with a variant of their established J-15 fighter, in sea trials prior to the commissioning. Analysts and military attachés in the region say they'll be monitoring upcoming deployments to see how fast Fujian can become combat-ready. They will also monitor flight operations, and efforts to integrate its operations with support vessels and submarines. Reporting by Beijing Newsroom in Hong Kong and Greg Torode; Editing by Jacqueline Wong, Raju Gopalakrishnan
German Spot to Rise on Monday Due to Falling Wind Output
German power prices will rise on Monday due to a drop in the output of wind and solar energy.
LSEG data showed that the German and French baseload power contracts for Monday were not traded by 813 GMT on Friday.
According to LSEG analyst Riccardo Paraviero, the German residual load – that portion of electricity consumption that must be met by controllable sources like coal or gas – is expected rise on Monday due to "cratering" wind power supplies.
Data compiled by LSEG shows that German wind power production is expected to drop by 2.6 gigawatts on Monday, while French wind generation is projected by 550 megawatts up to 6.4 GW.
The German solar energy supply is expected to drop by 2.4 GW - 3.2 GW.
On Monday, power consumption is expected to decrease by 540 MW in Germany to 58.3 GW while in France it is predicted to decline by 1.3 GW at 49 GW.
The French nuclear capacity has increased by two percentage points, to 76%.
The benchmark contract on the European carbon markets increased by 0.2%, to 80.32 Euros per metric ton.
According to a report from market intelligence firm Veyt, there was a 17.5% increase in the number of European renewable energy certificates cancelled in early 2025. This indicates a growing demand for green electricity, despite low prices.
(source: Reuters)