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Engie signs LNG supply contract for 15 years with Thai power plants
By America Hernandez PARIS, January 13 - French utility Engie signed a 15-year contract to supply liquefied natural gas to power plants in Thailand owned by Gulf Development PCL on Tuesday. Delivery of up to 0.8 millions metric tons per year will start?in 2028. Details of the price were not revealed. Thailand is the largest LNG importer in Southeast Asia. The demand for the fuel will continue to grow as it gradually replaces coal, which accounts for 14% of its electricity mix. Gulf Development's CFO Yupapin. Wangviwat stated in a?statement that "this LNG procurement aligns to Thailand's national strategy for gas supply by diversifying natural gas sources, improving price stability and supply volume and strengthening the nation's?long-term energy security". Engie has not responded to the request for comment regarding where LNG will come from. The state-backed French firm has signed long-term contracts with NextDecade Rio Grande LNG, Cheniere Corpus Christi LNG, and Sempra Port Arthur LNG to buy 3.5 million tons U.S. LNG annually after 2040. Reporting by America Hernandez, Paris Editing by David Goodman
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Wall Street to be muted after JPMorgan and Delta Air mixed results
Wall Street's major indexes opened Tuesday with a muted tone after an inflation report that was largely in line with expectations. Investors also weighed the mixed quarterly results of JPMorgan Chase and Delta Air Lines. Consumer prices in the United States increased by 0.2% from November to December, less than expected. The economists had predicted a 0.3% rise. The headline and core CPI increased 2.6% on an annual basis last month, after increasing by the same margin in November. The data confirmed Fed bets that at least two additional 25 basis point rate cuts will occur between June and Decemeber, with traders predicting a slight chance of a possible third cut,?per LSEG Data. Skyler Weinand is the chief investment officer at Regan Capital. She said, "The Fed will likely take its time to absorb more data. JPMorgan Shares were up 0.4% on choppy trading in the premarket after the bank beat its quarterly profit estimates. Its traders took advantage of volatile markets. There are also other big banks that will be reporting later this week. Expected to Post a Stronger Quarterly Results The dealmaking boom has helped s. Delta Air Lines The mid-point in its profit forecast for 2026 fell short of analysts' expectations. United Airlines and American Airlines both fell by about 2%. At 8:51 am, S&P E-minis had gained 2.5 points or 0.04%. Dow E-minis had lost 61 points or 0.12%. Nasdaq E-minis have gained 19.5 points or 0.08%. Focus on the Interest Rate Outlook Wall Street began the week in a bad mood after U.S. federal prosecutors launched a criminal probe into Fed Chairman Jerome Powell. This sparked new concerns about the independence of the central bank and drew sharp criticism from Republicans. The?market rebounded during the session as gains by tech giants and Walmart drove the S&P 500 to new record closes. Investors also have largely ignored geopolitical worries, such as the United States' threat to seize Greenland or its warnings of attacks in Iran. Investors are attracted to small-cap stocks because of their high valuations. They have outperformed the broader market since the beginning of the year. However, it is not clear if this trend will continue. Russell 2000 gained 6.2% during the first seven trading days in 2026, while the S&P 500 only saw a 1.9% increase. We've been seeing fits and starts from small cap stocks for years. "We need to see more before we believe that this is the right time for small cap stocks," said Ryan Detrick?, chief market strategist at Carson Group. "But a slightly stronger economy, and a Fed that is more dovish could provide a tailwind for small cap stocks." BNY, among other stocks, raised its target for an important profitability measure. However, the shares of the custodian banks fell 0.6%. KeyBanc upgraded the shares of both chipmakers to "overweight" and Intel shares gained 3.9%. (Reporting and editing by Maju Samuel in Bengalur; reporting by Medha Singh, Pranav Kashyap from Bengaluru)
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JetZero, a startup aircraft company, raises $175 Million in Series B financing
JetZero announced on Tuesday that it had raised $175 million as part of a Series B financing round. The California-based startup is aiming to "advance" the development and design of its blended-wing planes, which are designed to reduce fuel consumption. The latest funding round was led by Northrop Grumman and the venture capital arms of United Airlines and 3M. The company is a new entrant into the aerospace industry. It plans to capitalize on the?new jet shortages, and the industry's effort to make flying cheaper and more efficient. The new capital will help accelerate the development of its prototype aircraft, "Demonstrator", which is designed to achieve at least 30% better aerodynamics than traditional tube-and-wing aircraft. The prototype will be ready for flight in 2027. JetZero said that it has received more than $1 billion of funding, including grants from the government, incentives, and commercial backing. United Airlines invested in a startup last year. The investment included the option to order 100 airplanes, with a maximum of 100. Last year, the all-wing airplane manufacturer?said that it would invest $4.7 Billion over a decade on a production plant and headquarters in North Carolina. The company received a $235-million contract in 2023 from the U.S. Air Force to develop a demonstrator and is looking to enter commercial service by the early 2030s. (Reporting and editing by Vijay Kishore in Bengaluru, Anshuman tripathy from Bengaluru)
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Somali regions reject Mogadishu’s decision to cut off ties with UAE
Three autonomous regions of Somalia with close ties to the United Arab Emirates (UAE) have rejected a central government decision taken this week to "sever" ties with UAE, which has been a long-term sponsor. Somalia canceled all agreements with the UAE on Monday, including those in the security field. The country accused the Gulf of having undermined Somalia's sovereignty by 'training and funding' its army, and investing in its ports. Somalia has not provided any further information about its motives for this move. Mogadishu investigates allegations that the UAE escorted a separatist leader from Yemen to Somalia via Somalia. Separately the UAE was linked to Israel's recognition of Somaliland as an independent country last month. Somaliland is a breakaway region in northern Somalia. The UAE Ministry of Foreign Affairs didn't immediately respond to an inquiry for comment on Somalia’s decision. The UAE has had long-standing interests in the Horn of Africa region and Red Sea, where they have often fought with wealthy Gulf states to gain influence. Somaliland, Puntland, and Jubbaland, two semi-autonomous countries in the north, and the south, have said that they will not recognise the decision of Mogadishu, to cut off ties with UAE. "Somalia’s daydreaming doesn't change anything" "The UAE is here to stay no matter what a weak government in Mogadishu claims," Khadar Hussein abdi, Minister of Presidency of Republic of Somaliland said late Monday. The regional government of Jubbaland said that Mogadishu’s decision is "null, void", and all existing "security and developmental agreements" will remain in place. Puntland stated that the decision will not have any impact on the relations between itself and the UAE. This includes the coastal city Bosaso, where a subsidiary owned by DP World in the UAE has a 30 year concession to operate the port. Expanding Influence UAE leverages its wealth for years to extend its influence in the Horn of Africa. They use a combination of economic, diplomatic and military clout. Since the 1970s, Somalia's federal govt. has had only a limited authority in the country. It has also failed to defeat islamist militants despite international support including African peacekeepers as well as U.S. aerial strikes. Senior Somali sources claim that the UAE trained hundreds of Somali troops between 2014-2018 and continues to pay salaries and provide logistics for around 3,400 Somali military officers and special forces troops in the capital. It has also formed bonds directly with regional governments and committed hundreds of millions to ports and military facilities along the coasts of global shipping routes. Speaking on condition of anonymity in order to discuss sensitive diplomatic issues, two Somali officials said that instead of the UAE funding, the country could seek help from wealthy Gulf rivals Qatar and Saudi Arabia. (Writing by David Lewis).
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Wall Street futures fall as JPMorgan begins earnings season; inflation tests loom.
U.S. Stock Index Futures fell on Tuesday, as investors awaited a key inflation report to get fresh clues about where interest rates will go next. JPMorgan Chase's earnings for the fourth quarter kicked off earnings season. JPMorgan Shares were up by 1.1% during choppy trading in the premarket after Goldman Sachs' quarterly profit exceeded estimates. However, a one-time fee associated with its deal to take over Apple’s credit card partnership was also weighing down on them. There are many other big banks that will be reporting later this week. Expected to Post a Stronger Quarterly Results S, helped by a pick-up in dealmaking. BNY increased its target for an important profitability measure but shares of the custodian banks fell 0.6%. Delta ?Air Lines Shares fell by 5.6%, despite the fact that the airline had projected a 20% increase in earnings by 2026. United Airlines and American Airlines both fell by about 3%. At 6:55 am. At 6:55 a.m. ET, Dow Eminis had fallen 11 points or 0.01%. S&P Eminis had dropped 7.5 points or 0.11%. Nasdaq Eminis fell 67.25 or 0.26%. Focus on the Interest Rate Outlook The markets are preparing for the next inflation report at 8:30 a.m. The December data is expected to show a rise in consumer prices, which would support the Federal Reserve's decision to hold interest rates when they meet later this month. Wall Street began the week in a bad mood after U.S. authorities opened a criminal probe into the Fed chair Jerome Powell. This sparked new concerns about the central bank’s independence, and drew sharp criticism from prominent Republicans. Markets bounced back in the afternoon session as tech giants and Walmart gained, sending the S&P 500 to new record closings. Investors have shrugged off geopolitical worries, such as U.S. military actions and the capture of Venezuelan president Nicolas Maduro ten days ago. Instead, they are focusing on artificial intelligence, and their expectations for strong earnings, which has propelled the indexes up to new heights. Since the start of this year, investors have been attracted to small-cap stocks due to their high valuations. However, it is yet unknown if the trend will continue. BlackRock Investment Institute's strategists predict that the gap between the "Magnificent 7" tech giants, and the rest, will continue to narrow. They also expect a rise in economically sensitive sectors. Productivity gains from AI may help offset earnings downgrades. Russell 2000 gained 6.2% during the first seven days of trading in 2026 compared to a S&P 500 rise of 1.9%. KeyBanc upgraded the shares of both chipmakers to "overweight" and Intel shares gained 3.4%. (Reporting and editing by Maju Samuel in Bengalur; reporting by Medha Singh, Pranav Kashyap).
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CPC Blend oil loadings resumed after the storm, but January exports were 70% behind schedule according to sources
Four sources claim that January exports are already 70% behind schedule after the weather-related suspension of the Caspian Pipeline Consortium terminal. The interruption to CPC oil exports limits supply for the vast Tengiz oil fields and Kashagan oil field operated by U.S. oil majors and European oil companies. The CPC Blend oil loadings may be further complicated by a drone attack that took place on Tuesday near the CPC terminal. The CPC pipeline, which handles more than 80% of Kazakhstan's oil exports, transports oil to the Black Sea terminal at Yuzhnaya Ozereyevka, near Novorossiysk. Two sources claim that the 'CPC' has already cancelled 19 oil cargoes originally planned to be loaded in January, as its terminal operations are still restricted to a single mooring (SPM), and winter storms disrupted loadings. One of them stated that the exports had been at just 500,000 barrels per day in January, which is about 70% less than the initial loading schedule. CPC has been working to resume SPM 3 operations for the past few months, but the winter storms have made it difficult to complete repairs. This has delayed the completion of the work. SPM 3 and SPM 2 were still not operational as of Tuesday. CPC's terminal can only work at half its capacity with SPM 1 - and bad weather is also a constraint. The weather forecasts indicate that storms will return after January 17, complicating loading. One source involved with CPC exports stated that it was difficult for the terminal to keep up with the plan because there is only one SPM operational. CPC suspended oil exports at the Black Sea terminal on December 30 of last year. Loading resumed on January 5 for two days. CPC's representative refused to comment on terminal operations.
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Oil prices spike on potential Iranian supply disruption
The oil prices continued to rise on Tuesday as heightened concerns about the major Iranian producer and possible supply disruptions overshadowed the?prospects of an increased crude supply coming from Venezuela. Brent futures rose $1.20 or 1.9% to $65.07 per barrel at 1150 GMT. This is the highest Brent has been since mid-November. U.S. West Texas Intermediate Crude climbed $1.23 or 2.1% to $60.73. John Evans of PVM Oil Associates said, "The oil markets are building some price protection to counter geopolitical factors." Evans highlighted the possible exclusion of Iran’s?exports as well as the problems in Venezuela, the talks about the Russia-Ukraine conflict and the Greenland issue. Iran, one the largest producers of oil in the Organization?of Petroleum Exporting countries, is currently facing its most violent anti-government protests in many years. Donald Trump warned of possible military action after a government crackdown on protesters led to thousands of arrests and hundreds of deaths, according to a rights group. Trump said on Monday that any nation that conducts business with Iran would be charged a 25% tariff on all business done with the United States. Iran exports most of its oil to China. Unidentified drones also struck four Greek-managed tankers on Tuesday. Eight sources said that the tankers were on their way to the Caspian Pipeline Consortium terminal near the Russian coast. Janiv Shah of?Rystad said that for the moment, concerns over a glut in supply have been put on hold. He added that excessive refinery output in Europe is weighing down the gasoil markets. Unrest supports Brent's Premium Brent crude oil's price premium over Middle East benchmark 'Dubai' rose to its highest level since July on Tuesday as geopolitical tensions between Iran and Venezuela boosted the global 'price marker', LSEG data revealed. Barclays stated in a note that "unrest in Iran added approximately $3-4 per barrel to the geopolitical premium of oil prices." The markets are also concerned about the additional crude oil supply that will hit the market with a return of Venezuelan exports. Trump announced last week that Caracas was ready to 'hand over to the U.S. up to 50 million barrels oil subject to Western sanctions. Oil trading houses from around the world have beaten U.S. energy giants in the race to control Venezuelan oil flows. Reporting by Seher DAREEN in London, Anushree MUKHERJEE in Bengaluru, and Jeslyn LERH in Singapore. Editing by Bernadette BAUME and David GOODMAN
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Delta places Boeing 787 in order to forecast earnings growth on premium travel demand
Delta Air Lines, on Tuesday, forecast a 20% increase in earnings by 2026, citing strong corporate and consumer demand, as well as rising sales for premium travel. The airline also announced that it had agreed to purchase 30 Boeing 787-10 aircraft to bolster its long-haul fleet. The shares of the airline fell by nearly 5% during premarket trading, as the forecasts were largely "below" estimates. As lower-income consumers are under pressure due to inflation and a weaker purchasing power, the airline is benefiting from a resilient demand from higher-income travelers. This divergence was apparent in the December quarter when the overall passenger revenue increased by just 1%. However, this masked a growing gap within the cabin. The revenue for main-cabin tickets fell by 7% compared to a year ago, but revenue from premium products grew by 9%. Delta CEO Ed Bastian stated that the majority of Delta's seat expansion is planned for premium products. The main cabin will see little growth. The airline's long term strategy is reinforced by the fact that new aircraft are configured with more premium seats. Bastian said that the outlook was "upbeat," noting the record bookings at the beginning of the year. However, the airline maintains a range in its forecast because of ongoing geopolitical uncertainty and policy-related uncertainties. Delta, based in Atlanta, expects a full-year adjusted earnings per share between $6.50 and $7.50 as well as free cash flow between $3 billion and $4 billion. Delta expects revenue growth between 5% and 7% for the March quarter. It also forecasts adjusted earnings per share of $0.50-$0.90. LSEG surveyed analysts who expect earnings per share of $7.25 for the year, and $0.72 for each quarter. INTERNATIONAL RECOVERY - UNVEIL Bastian stated that the international demand is still strong, despite markets like Canada and China not yet fully recovering. Capacity to China remains well below pre-pandemic levels. He said that the World Cup soccer tournament could be a catalyst for inbound travel and ease a blockage in international demand. In 2025, the airline had its highest ever level of premium revenue and diversification. Nearly 60% of its total revenue came from premium cabins and loyalty programs, as well as other non-ticket revenue sources such as its long-standing relationship with American Express. Bastian, a Delta spokesperson, told reporters that Delta's customers prioritize travel and high-quality experiences. The disparity in consumer spending has also changed the shape of the U.S. aviation industry. Low-cost and Ultra-low-cost Carriers, who rely heavily upon price-sensitive travellers, have struggled with weak profitability and excess capacities, leading to consolidation and retrenchment. Allegiant announced plans to purchase Sun Country Airlines while Spirit Airlines filed for bankruptcy. Bastian stated that "the lower-end consumers are struggling." We are fortunate to not live in that area. BOEING ORDER DIFFERSIFIES LONG HAUL FLEET Delta's adjusted fourth-quarter earnings of $1.55 per share barely beat analyst's expectations. However, results were affected by the longest U.S. government shutdown in history, which caused tens and thousands of flight disruptions, and reduced quarterly profits by about $200 million. In 2025, the airlines also suffered a drop in demand due to the sweeping U.S. Tariffs that eroded consumer confidence. Delta's outlook for 2026 assumes that these disruptions won't be repeated. Delta, as part of its long-term fleet plan, will purchase 30 Boeing 787-10 widebody planes, with an option for another 30, and deliveries are expected to begin in 2031. Delta will have a brand-new aircraft with the 787-10. Bastian explained that the aircraft was chosen for its efficiency and flexibility in mid-range international routes. This includes those across the Atlantic, to South America and other destinations where ultra-long range capability is not needed. He said that the 787-10 was cheaper to operate than larger widebodies like the Airbus A350 on many missions. Delta Airlines has been a strong proponent of Airbus for the last 15 years. Its fleet is centered around the A220, A320, and A350 narrowbody aircraft, as well as its flagship A330 widebody. Bastian explained that the Boeing order was a deliberate attempt to diversify the suppliers and reduce reliance on one manufacturer, as the airline expanded internationally. He said that it was difficult to run a business if the airline relied on a single supplier. (Reporting and editing by Jamie Freed; Reporting by Rajesh Kumar Singh)
UK prosecutors claim that the Russian captain did nothing to prevent the crash of a US tanker.
British prosecutors stated on Tuesday that the captain of the container ship which collided with a U.S. oil tanker off Britain's east cost last year, did "absolutely" nothing to prevent an avoidable fatal collision.
Vladimir Motin (59) was the Russian captain of the Portuguese flagged Solong, which hit the Stena Immaculate tanker that was anchored on March 10, 2025.
Motin, who was arrested four days earlier, was charged with the murder of Mark Pernia (38), a Filipino national, and member of the Solong crew. His body has not been located and is presumed to be dead.
Tom Little, the prosecutor at London's Old Bailey Court, said that Pernia’s death could have been prevented.
Little told the jury that "he would still be alive today if not for the grossly negligence?conduct" of the man on the dock.
He stated that the Solong was on a collision path with the Stena Immaculate for more than 30 minutes before the crash. The Stena Immaculate was carrying "very large quantities" of aviation fuel.
Little testified that Motin had a duty to Pernia as Solong's Captain and as he "was on sole watch duty at the bridge" prior to the fatal accident.
Little said, "In the end, he didn't do anything, nothing at all, to prevent the collision."
(source: Reuters)