Latest News
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Pentagon announces $8.6 Billion Boeing Contract for F-15 Jets for Israel
The Pentagon announced on Monday that Boeing had been awarded an $8.6 billion contract for the F-15 Israel Program, following a meeting between U.S. president Donald Trump and Israeli Prime Minister Benjamin Netanyahu. The Pentagon stated that the contract "provides for a design, integration and instrumentation of 25 new F-15IA airliners for the Israeli Air Force with an option to purchase an additional 25 F-15IAs." The Pentagon stated that the contract was for foreign military sales to Israel. The U.S. is by far its largest arms supplier in the Middle East. Pro-Palestinian, anti-war Protesters Around the?U.S. Washington's support for Israel was questioned after the devastating attack on But these?demands? have not been met by the administrations under President Donald Trump Former President Joe Biden The Pentagon announced that contract work would be completed in St. Louis by December 31, 2035.
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Winter Storm Ezra disrupts US travel, as Meteorologists warn of the 'bomb-cyclone'
Winter Storm Ezra caused holiday travel disruptions across the U.S. Northeast and Midwest for a third consecutive day on Monday. Airlines scrambled to recover, and forecasters warned of an upcoming "bomb-cyclone" which could further disrupt trips before the New Year holiday. As of 3:25 pm ET, there were 751 flights canceled and nearly 6,000 delayed. FlightAware, a flight tracking website, reports that as of 3:25 p.m. ET there were 751 canceled flights and nearly 6,000 delayed flights. Weather disruptions since Friday have caused more than 3,600 cancellations and delays. Storms hit during a time when airlines are operating at near capacity and have limited flexibility in rebooking passengers. As airlines dealt with the severe winter weather, holiday travelers were faced with long waiting times, difficulties rebooking and accommodations. AccuWeather's meteorologists said the storm was expected to intensify and become a "bomb-cyclone" by Monday night. The storm is expected to bring blizzard conditions as well as dangerous ice, heavy rain, and strong winds. Bomb cyclones occur when atmospheric pressure rapidly drops, causing hurricane-force wind and heavy rain. The arctic front that drove the storm caused a wild swing in temperature. The temperatures in Philadelphia were predicted to drop overnight from 60 degrees, where they had been on Monday. Travel disruptions, regional power outages, and hazardous conditions are expected to continue through Tuesday morning. Poor visibility, icy roads and blowing sleet contributed to multiple vehicle pileups. Authorities in some parts of the area urged drivers to avoid unnecessary travel. The Federal Emergency Management Agency has warned that driving can be hazardous as high winds, ice and blizzard conditions descend on the Upper Midwest and Great Lakes. The Federal Aviation Administration has issued a?ground stop' at Washington Dulles International Airport, until 4:15 pm. Due to high winds, the Federal Aviation Administration issued a ground stop at Washington's Dulles International Airport until 4:15 p.m. ET. Low visibility and high winds caused delays at Boston and Newark airports, which serve New York City. The FAA has ordered that all flights to Detroit be grounded at the Detroit Metropolitan Wayne County Airport until 8 am. ET on Monday. Only Delta Air Lines flights were affected by the halt. The reasons for this were not disclosed. Delays are expected to last until midnight. Delta's shares dropped nearly 3% in afternoon trading, as it had the highest number of cancellations and delay on Monday. United Airlines, American Airlines, and Alaska Air Group all saw their shares fall by about 2%. Ground crews were also clearing snow and ice off planes, according to the FAA. The operations of airlines are closely interconnected, so canceled flights may leave crews and aircraft out of place, making it difficult to get back on track. American Airlines, United Airlines and JetBlue Airways have all waived the change fee for passengers who were affected by weather-related delays. Reporting by Aatreyee dasgupta in Bengaluru, Shivansh Tiwary, and Abhinav parmar. Dawn Kopecki, Shilpa Majumdar and Dawn Kopecki edited the article.
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Kazakh oil production falls after drone attack on Ukraine, but uranium prices remain stable
According to a source in the industry, Urals crude differentials remained stable on Monday, while Kazakh oil output fell by about 6% 'in December, following a Ukrainian drone strike that damaged Russia's Black Sea Exporting Terminal. According to the person who spoke on condition of anonymity because the situation was sensitive, oil and gas condensate production?from Kazakhstan has decreased in the period December 1-28 to 1,93 million barrels per a day. Sources say that production at Tengiz, an oilfield located in northwest Kazakhstan, on the northeastern coast of the Caspian Sea, has dropped by 10% in the period December 1-28 to 719.800?bpd. PLATTS WINDOW Traders said that no bids or offers for Urals, Azeri BTC, and CPC Blend were made on Monday. Government data released on Monday showed that India's crude imports increased?0.2% from one month to the next in November, reaching 21.06 millions metric tons. This is their highest level since last March. Tomasz Janovski, Reporter; Tomasz Janowski, Editor
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IndiGo, India's largest airline, will increase pilot compensations after a series of mass cancellations.
IndiGo introduced new pilot allowances, and raised some existing ones. This is a sign that India's biggest airline wants to?boost pilot morale after weeks of mass flight cancellations caused by a?poor schedule planning. According to Ashim Mittra's email to the pilots, the airline will increase its layover allowances. For captains it will go up to 3,000 rupees (33.37 dollars) and for first officers to 1,500 rupees. The email stated that allowances?for 'deadheading' - where airline crew members travel as passengers in order to prepare for future duties - would be raised to 4,000 rupees (from 3,000 rupees) for captains and by 500 rupees up to 2,000 rupees (for first officers). IndiGo did not respond immediately to a request for comment. According to government statistics, the airline employs approximately 5,000 pilots. The airline that commands a market share of 65% in India is now facing increased regulatory scrutiny as well as a competition investigation after cancelling 4,500 flights this month. This left hundreds of thousands of passengers stuck all over India, and caused airports to be in chaos. India temporarily relaxed some rules regarding night duty for its pilots in order to stabilize the airline's operations. This move was criticized by pilot unions and safety advocates. The civil aviation ministry announced that a committee set up by India's aviation regulator, to investigate the circumstances leading to the cancellations, submitted its report to it last week. Moody's Ratings warned that IndiGo may suffer "significant financial harm" due to revenue losses resulting from cancellations, refunds and penalties imposed by India. Mittra stated in an email that IndiGo executives had visited various bases to talk with pilots. Mittra said in an email seen by?that the?move to raise some allowances and introduce new ones, effective January?1, came after IndiGo executives visited different bases to hold talks with pilots, Mittra stated.
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Russian Railways to reduce spending by 20% by 2026
Russian Railways announced on Monday that the board of directors has approved spending for 2026 of 713.6 billion rubles ($9.15 billion), down from this year's 890.9 billion roubles. The Russian government is looking at ways to support the country's largest commercial employer. This company has accumulated a?debt pile of 4 trillion roubles ($50.8 billion), despite falling revenues caused by a sharp drop in Russia's war economy. Russian Railways announced that 531.4 billion rubles of the approved expenditure will go towards maintaining the 'infrastructure, safety and security. Another 161.7 billion roubles is earmarked for the purchase of railcars, and 120 billion will go toward the construction a high-speed rail link between Moscow and St Petersburg. In an interview, Andrei Kostin, the CEO of VTB and Russia's largest bank, Russian Railways, said that keeping investments high was one of the most important issues in debt restructuring discussions. Russian?Railways? 2025 spending is still very low compared to last year's record, when it was 1.5 trillion roubles.
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Boxing: Anthony Joshua injured in fatal car accident in Nigeria
Police in Nigeria said that former heavyweight world boxing champion Anthony Joshua, a British man, was involved in an accident which killed two people in Ogun State. Joshua, 36, suffered minor injuries after a collision between his vehicle and another car. The Ogun State Police Command confirmed that Joshua had been transported to the hospital, while they investigated the cause of the accident. Five men were involved in an accident on the Lagos-Ibadan Expressway, according to the Federal Road Safety Corps of Nigeria. The agency stated that preliminary findings indicate 'the vehicle carrying Joshua was likely speeding at the time it lost control of its overtaking maneuver and crashed into an parked truck by the roadside. The FRSC stated on X that "excessive speed and wrongful passing constitute serious traffic violations, and remain among the 'leading causes of fatal road accidents on Nigerian highways." Joshua couldn't be reached for comment immediately. Joshua, the son of British and Nigerian parents, went to a boarding school in Ikenne (53 miles away from the accident site) before returning to Britain at age 12. Joshua, the son of British-Nigerian parents, attended a boarding school in Ikenne (53 miles from where the crash occurred) before returning to Britain at age 12. Joshua returned to the ring following a 15-month hiatus. He will likely face his longtime rival, fellow Briton Tyson Fury, in 2026. (Reporting and editing by Ed Osmond in London; Sam Tabahriti, London)
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IndiGo, India's largest airline, will increase pilot compensations after weeks of mass cancellations
IndiGo introduced new pilot allowances, and increased some of the existing ones. This is a sign that India's largest airline wants to boost pilot morale after weeks when?massive flight cancellations due to poor roster planning?left passengers?stranded? According to Ashim Mittra's email to pilots, the airline will increase the layover allowance for captains from 2,000 to 3,000 rupees (about $33.37), and for first officers from 1,000 to 1,500 rupees. The email stated that allowances for "deadheading", a practice in which airline crew members travel as passengers so they can position themselves for future duty, will increase to 4,000 rupees (from 3,000 rupees) for captains and by '500 rupees up to 2,000 rupees, for first officers. IndiGo, who according to data from the government employs approximately 5,000 pilots did not respond immediately to a comment request. After cancelling 4,500 flights in the first week of this month and leaving thousands of passengers stranded across India, the?airline is now under increased scrutiny from regulators and will be subject to a competition investigation. The civil aviation ministry announced that a committee appointed by India's aviation regulator in order to investigate the circumstances leading to cancellations has submitted its report. Moody's Ratings warned IndiGo that it could suffer "significant financial harm" due to revenue losses from cancellations, refunds to customers, and penalties imposed by India. Mittra wrote in an email that IndiGo executives had visited various bases to talk with pilots. Indian airlines are also facing a?competition' to stop pilots from being poached away by foreign carriers who promise better wages and quality of living, prompting India to call for an international code of conduct regarding pilot hiring.
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Two Chinese airlines plan to buy Airbus jets worth up $8.2 billion
According to stock exchange filings, China's Spring Airlines (China) and Juneyao Airlines (Japan) announced Monday plans to buy 30 and 25 Airbus A320 family?jets. Spring Airlines, a budget carrier in China, has signed a deal to purchase 30 A320neo planes at a list price of $4.13 billion. The company filed corresponding documents with the Shanghai Stock Exchange. It said that the jets would be delivered in batches between 2028-2032. In a filing with the Shanghai Stock Exchange,?Juneyao Airlines of Shanghai said that it planned to sign an agreement?with Airbus to buy?25 A320 family jets. The planes, based on their list price, are valued at $4.1 billion and will be delivered between 2028-2032. According to filings, both deals need government approvals. Airbus has been in sporadic negotiations with China since 2024, trying to secure a 500-jet order. The planemaker announced earlier this month that it had secured Chinese approval to proceed with the delivery of 120 jets previously ordered, but still awaiting progress on new orders. (Reporting and editing by Tomaszjanowski; Yukun Woo and Ryan Woo)
New England electricity prices increase in November, ISO reports
According to a U.S. power grid company, ISO - New England, wholesale electricity prices in New England increased in November due to?fuel prices and an increase in consumer demand.
The operator said that the average real-time electricity price was $61, up 52% on a year ago, and that day-ahead power prices were $59.55/MWh.
ISO noted that fuel is a major?cost of power generation in New England. Natural?gas, which will provide 55% electricity in 2024 typically sets wholesale power prices. This closely links electricity prices to the gas markets.
The Massachusetts Natural Gas Index reported that the average natural gas price in November was $4.68 per million British thermal units, an increase of 107% over $2.26/MMBtu from a year ago.
The operator reported that the demand for electricity increased by 3.9% in November 2024, as temperatures dropped, causing a rise in heating needs throughout the region.
ISO reported that New England power plants produced an estimated 2,53 million metric tonnes of carbon dioxide during the month. This is about 2% higher than November 2024.
The operator said that "estimated year-to date?emissions?through Nov. 30,?increased by 2% over the previous year. This was largely due to a 'colder winter, higher demand, and increased natural gas prices, resulting in more coal and oil-fired generators."
(source: Reuters)