Latest News
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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.
Can Peru restart its Amazon oil industry? Pollution and local opposition are a concern
Wilmer Macusi, a Peruvian living in northern Amazon, sat atop an old rusty pipe that cut through the jungle and tossed a branch into the stagnant pool of water around it.
Macusi, an Indigenous Urarina leader of 25 years, pointed to the place where an oil spill took place in early 2023. "But even if you change the water, the oil will still come out." As plastic barriers intended to contain the spill dropped into the water, black droplets bubbled up to the surface. The pipeline connects a nearby oilfield (Block 8) to the North Peruvian Pipeline, which is owned by the government. Santa Rosa, Macusi's locality, is just a few minutes away. According to data from the government, Peru's northern Amazon contains hundreds of millions barrels of crude oil. However, indigenous groups claim that oil extraction in the last half century has brought pollution and not progress. They are against a new wave of development.
In the 1980s, this region produced more than half of Peru’s oil. However, environmental liabilities and local opposition lowered production to 40,000 barrels per day. In 2020, key blocks became dormant.
Petroperu, the state-owned oil company, is once again focusing on the modest reserves of this region. The company spent $6.5 billion to upgrade its Talara refinery, which now produces 95,000 bpd of high-grade fuels. Petroperu, heavily indebted and with a CCC+ junk rating from the ratings agency Fitch wants to revive Amazon oil production to supply Talara.
Petroperu, the state-owned firm, estimated that last month proven and probable reserves were valued at $20.9 billion. This could generate $3.1 billion of tax revenue for local governments.
The amount of oil involved is small but the plans have caused tensions due to past spills. This has fueled Indigenous opposition as Brazil, Ecuador, and Guyana try to expand their Amazon oil frontiers.
The frustration about forest protection and climate action boiled over during the
Climate summit COP30
This week, dozens of Indigenous demonstrators forced their way in and clashed violently with security guards.
Petroperu also plans to import oil into the refinery through a 1,100 km ONP link to Ecuador. Ecuador is aiming to increase production in the Amazon region of its country as part a $47 Billion oil expansion plan. The ONP was hailed as a marvel of engineering when it opened in the 1970s. However, since then, it has become a lightning-rod for leaks, protests, and sabotage. Both indigenous groups are fighting the pipeline connection.
The government is considering options to best run the pipeline. These include a joint venture and outsourcing its management.
OBSTACLES TO REVIVAL
Petroperu has failed to find an international partner for its largest oilfield Block 192. This field produced over 100,000 bpd during its peak, but was recently the subject of Indigenous protests calling for remediation due to damage caused to the soil, forest and waterways.
Petroperu’s former chairman Alejandro Narvaez was dismissed last month. He estimated Block 192 production at least 20,000 bpd and that Amazon's overall production could reach 100,000 bpd.
Upland Oil & Gas, a domestic company, was selected by the state oil firm to operate the block. However, Peru's state regulator of oil disqualified Upland in the last month because it had not demonstrated financial capability. Upland has requested a review of the decision. Petroperu partnered up with Upland in order to restart production at Block 8, a smaller block that produced 5,000 barrels per day last month. Upland CEO Jorge Rivera is the son of Peru's first oil prospector. He said that Upland had offered Indigenous communities funding, training and jobs.
He said, "We have dedicated ourselves to understand the complexities of operating these fields." Rivera made a visit to Santa Rosa, California in March. He gave a Starlink terminal as a gift and requested a report about the needs of the community.
Although the community was primarily concerned with the cleanup of a nearby spill, questions still remain about who is responsible.
Although Upland is responsible for the 108 km of pipeline that connects Block 8 to the ONP and runs through it, its contract exempts them from liability for pollution in the past.
Pluspetrol Norte was the previous operator. It is an Argentinean subsidiary that was fined a number of times before filing for liquidation in late 2020 and leaving the area.
Eight Indigenous federations, as well as non-governmental organisations, filed a complaint with the Dutch National Contact Point of the OECD, a mechanism for implementing OECD guidelines to businesses. The Dutch National Contact Point concluded in September, that Pluspetrol violated Indigenous community rights in Peru's Amazon, and urged Pluspetrol to remedy the damage to the environment.
Pluspetrol responded by saying that it had already complied with the environmental and human right regulations. It also said the NCP statement lacked merit because it did not reflect the "breadth, complexity and extent of evidence presented and actions taken by the Company."
Onp Spills
Scientists have been studying the effects of oil fields on wildlife and Indigenous populations for decades. They've found that there are high levels of mercury, lead, and arsenic. Block 192 cleanup costs are estimated at $1.5 billion.
OEFA recorded over 560 environmental violations including oil spills or other incidents from the ONP and other oil infrastructure blocks in Blocks 192 & 8 between 2011 and September 2025.
Petroperu said that any damage was "temporary" and "reversible". It blamed the local communities for "economic, rural and domestic activities" which were not specified.
The Peruvian prosecutor's office announced in late 2023 that they had dismantled a network consisting of local Indigenous leaders, businessmen and an employee from Petroperu who, according to the prosecutor, were orchestrating oil spills for lucrative cleanup contracts.
Narvaez stated in an interview before his dismissal that Petroperu prioritized the cleanup of spills under regulator supervision. Fidel Moreno, Petroperu Board Vice President, was appointed to replace Narvaez by the government of Peru's interim president Jose Jeri who assumed power last month. The government also announced that it would soon replace Petroperu’s entire board. Moreno declined to respond to an interview request. Macusi stated that communities have not yet received the fund Upland promised to provide 2.5% from oil sales. Meetings with Perupetro to discuss funding community projects were delayed. In 2022, after an oil spillage from the Block 8 Connector pipeline, Urarina Communities held a strike. They took over oil fields, oil facilities and blocked a river in order to demand better state response. Macusi says that communities are prepared to act again after Macusi hauled buckets of oil spilled as a teenager.
He said that if the benefits promised did not arrive soon, he would take action.
(source: Reuters)