Latest News
-
Wesfarmers, Australia's largest retailer, increases retail prices to offset rising freight costs
Wesfarmers Australia's largest non-food retailer announced?on?Tuesday that it would be raising some of its product prices due to higher?freight costs and fuel costs resulting?from the Iran _war. Fuel surcharges levied by domestic and international transport companies, as well as the hardware retailer Kmart and conglomerate based in Perth, are having a "major impact" on cost. Rob Scott, CEO of Macquarie Australia in Sydney, said that when costs increase some prices will have to rise. "There are certain costs that will need to be passed on, such as transport and fuel costs. PVC pipes, and other building materials, are likely to be more expensive as a result. Scott stated that the cost of some products will increase, especially in the building product area. "Our low-cost model allows us to keep our prices at the lowest possible level across all of our businesses." Wesfarmers lithium mining operations also face?some pressure on costs from rising diesel prices. However, Scott said that fuel was only a 'pretty minor component' of the overall operating expenses. Scott said that the conflict had affected the 'price of fertilisers, but Wesfarmers benefited from government-backed purchases. This allowed them to ensure urea deliveries despite the price volatility. Reporting by Christine Chen, Sydney; editing by Sonali Paul
-
American Pilots Union Chief says United CEO's idea of a merger showed 'boldness'
The head of American Airlines pilots' union, Scott Kirby, told his?members the merger idea of United Airlines CEO Scott Kirby was the "bold vision" that the airline needed. However, the?union did not endorse a tie-up of the two airlines. Nick Silva, President of the Allied Pilots Association, said in an email sent to pilots on 'Monday that Kirby’s vision was "transformative". This could have a positive impact for American Airlines, its pilots, and passengers. Silva's message demonstrates how Kirby’s rejected proposal is now a major pressure point within American. APA does not support a merger but its president uses the idea to argue American needs a stronger strategy and more ambitious leadership to catch up with competitors. Silva wrote: "(Kirby's) bold vision of the future of air travel could be transformative to our?passengers and the communities we serve. And, most importantly, you, our American employees, whom our C-suite chose to disrespect. American did not respond immediately to a request for comment. United announced last month that it had abandoned its pursuit of a fusion with American, after the rival carrier refused to engage in a dialogue following an initial approach. American said that a merger between United and American would be bad for the competition and consumers. UNION PRESSURE Since years, American Airlines has been behind Delta Air Lines & United in terms of profitability. The unions of the airline have made?that gulf into a governance problem, urging the board to hold the company's top executives accountable. In February, APA urged American to?take?decisive action? and requested a?full-board meeting. Flight attendants' union of the airline also issued a vote of no confidence in Chief Executive Robert Isom, and demanded a leadership change. It is rare for labor groups to publicly call for a change in leadership outside of formal contract negotiations. The unions of American Airlines have tied the airline's performance with strategy and execution. Silva urged American pilots read Kirby’s message. He said the United chief had explained why he thought a merger would be transformational for both airlines, and could withstand regulatory scrutiny. Silva said that while Kirby's vision is only "aspirational" at this time, it shows how far behind domestic and international competitors the United States has fallen. Silva said APA’s message focused on the lack of a strategy for the long term, the "unacceptable state" of the airline and the union’s openness to “any path forward” that would allow pilots the opportunity to work in an airline that values them and "not only competes, but leads the industry." He wrote: "It is clear that bold ideas and leadership will be required to restore 'American Airlines to a place of prominence among global carriers. HURDLES FOR MERGER Kirby brought up the idea of a tie with American at a meeting scheduled with Trump in late February to discuss the future Dulles Airport, according to sources last month. The idea was born out of escalating competition between the carriers in Chicago and elsewhere, but it faced "severe antitrust hurdles" due to their overlap in key markets. Trump has said that he is against a merger of the two carriers. Silva expressed his hope that senior management would give full consideration to all the strategic options which could help?American move forward, rather than dismissing them "quickly and defensively." Silva's email also suggests that people who are interested in the future of American might be contacting APA. He claimed that American management recently asked if anyone was "trying to get APA pilots aboard with an alternative plan" or the airline. Silva wrote: "The answer is yes." He didn't identify the people behind these efforts or whether United was involved. (Reporting and editing by Edmund Klamann, Stephen Coates and Rajesh Kumar Singh)
-
Drones disrupt relative calm for months in Sudan's capital and hit airport
Sudan's military blamed the United Arab Emirates (UAE) and Ethiopia for a drone strike on Monday that targeted Khartoum Airport. This is the latest of a series of attacks in recent days which has broken months?of relative calm?in Sudan's capital. Could not independently verify these claims. The allegations were made late Monday night. Neither country has commented immediately. Sudan accuses the UAE of backing paramilitaries called Rapid Support Forces, an allegation the Gulf state denies. Ethiopia was accused of involvement in the conflict by Sudan earlier this year. Residents report that since Friday, strikes have been launched against military targets as well as civilian areas of a city in which people, ministries, and international agencies began returning after the army regained control in March 2025. Witnesses reported that Monday's drone strikes targeted Khartoum International Airport, where the first fighting between the military forces and paramilitary Rapid Assistance Forces began in April 2023. The airport received its first flight internationally in three years just last week. Asim Awad Abdulwahab, the army spokesman, said that the government has evidence that the attacks on several states that began March 1 originated from Ethiopia's Bahir Dar Airport. He was referring to data from a drone that had been downed mid-March and that had links to the airport as well as the United Arab Emirates. He said that the army had linked a drone launched from Ethiopia's Bahir Dar airport to Monday's attack. Abdelwahab stated that "What Ethiopia and the UAE have done against Sudan is direct aggression and will not be met with silence." DRONES HAVE DOMINATED CONFLICT Locals who spoke under anonymity said that they believed that the Rapid Support Forces was behind the new attacks. The RSF is yet to comment on the attacks. The Information Ministry announced earlier that no injuries or damage were caused in the airport attack. It will resume normal operations following routine safety procedures. Drone warfare is the primary tool in the conflict that has caused what the U.N. describes as the worst humanitarian disaster on earth, with hundreds of thousands of deaths from violence, disease and hunger, and millions of refugees. Over the weekend, witnesses reported that drones struck Khartoum and its twin city Omdurman in addition to the cities of al-Obeid west of Khartoum and Kenana south of it. Emergency Lawyers, a group of activists, reported that one killed five civilians in a bus in southern Omdurman, on Saturday. On Sunday, another?killed the family of Abu Agla Keikal a tribal leader who had defected to the army from the RSF during the earlier war. These attacks follow another defection by al-Nour al-Guba. A senior RSF officer who was welcomed into Khartoum with his forces?late last week, raising fears about tensions in the army coalition. Sudan's conflict erupted when the RSF and Sudanese Army fell out over plans for integrating their forces and transitioning to democracy. RSF "quickly" took over Khartoum, but was forced out last year. Since then, it has consolidated its control over the Darfur region in the west and opened a second front in the Blue Nile State along Ethiopia's border, which is also marked by drone attacks. Ethiopian media reported in February that it was hosting a training camp for thousands of RSF fighters and upgraded Asosa Airport airport to accommodate drone operations. (Written by Nafisa Altahir, edited by Andrew Heavens & Lincoln Feast)
-
Chevron CEO: Shortages in oil supply to begin appearing
Chevron's Chairman and CEO, Mike Wirth, said that physical shortages of oil would start to appear around the world? due to a?closure of the Strait of Hormuz. Through this strait 20% of the global crude supply passes. Wirth, during a Milken Institute sponsored discussion, said that economies will shrink first in Asia as the demand adjusts to the reduced supply. The strait is still closed due to the U.S. - Israeli?war against Iran. Wirth noted that the surplus supply on?commercial markets was being consumed, as were tankers in shadow fleets, which avoided sanctions and national strategic reserve. He said that the demand must be able to match supply. "Economies will have to slow down." Wirth stated that Asia is most dependent on Gulf oil production and refinery, followed by Europe. Wirth said that although the United States is a net oil exporter, the impact will be felt in other parts of the world. He noted that the last scheduled shipment from the Gulf of Mexico was being unloaded at the Port of Long Beach, which supplies Los Angeles and Southern California. Wirth stated that the overall impact of the Hormuz shutdown is "potentially?as big as in the 1970s." In the 1970s, two?major disruptions of supply shook economies all over the world. Fuel rationing was common and long lines were seen at retail pumps. Due to the Hormuz shutdown, Spirit Airlines closed its doors over the weekend. Jet fuel prices increased amid tighter supply.
-
US crude oil prices drop by more than 1% as traders assess supply risks
U.S. crude oil prices fell more than 1% on Tuesday, as investors weighed up the impact of?Iranian?attacks?on ships in the 'Strait of Hormuz? and the news that Maersk operated a U.S. flagged ship which had passed through the strait with U.S. Military. U.S. West Texas Intermediate traded at $104.88 per barrel by 2236 GMT, a drop of $1.54 or 1.5%. Maersk announced that the Alliance Fairfax - a U.S. flagged vehicle carrier operated by Farrell Lines - left the Gulf on Monday accompanied by U.S. Military assets, alleviating immediate fears of a supply disruption. U.S. Central Command, Centcom, said on X Monday that American forces are actively assisting efforts to restore commercial ship traffic through the Strait of Hormuz. The oil prices jumped by more than 6 percent on Monday, after U.S. president Donald Trump launched a new effort to reopen Hormuz for shipping. This prompted Iran to retaliate to keep its grip on the vital energy transit route. Several commercial ships were reportedly hit, and a UAE oil terminal was set ablaze 'after an Iranian attack' as Trump's attempts to use the U.S. 'Navy' to free up'shipping' provoked the biggest 'escalation' in the war since a ceasefire declaration four weeks ago. (Reporting and editing by Nia William and Himani Sarkar; Anushree mukherjee, Bengaluru)
-
American Pilots Union Chief says United CEO's idea of a merger showed 'boldness'
The head of American Airlines pilots' union told members that United Airlines CEO Scott Kirby's merger proposal showed "the bold vision" that the carrier needed, but the union did not endorse a tie-up. Nick Silva, President of the Allied Pilots Association, said in an email sent to pilots Monday that Kirby's vision was "transformative" and could benefit passengers, communities, and American Airlines pilots. Silva, who did not support the merger of United-American, used Kirby's email as an occasion to criticize American's leadership. The unions are putting pressure on them because they have been underperforming financially. American didn't immediately respond to an inquiry for comment. Last month, United announced that it had ended its pursuit for a merger with American. The rival carrier refused to engage after an initial approach. American said that a merger between United and American would be bad for the competition?and consumers. UNION PRESSURE BUILDINGS The email suggests that, despite the fact that American rejected the merger proposal due to major regulatory obstacles, it has caused a new source of pressure within the airline. For APA it is part of a broader argument stating that American must adopt a more aggressive strategy in order to compete with its stronger rivals. "(Kirby's) bold vision for air travel could be transformative to our passengers, communities we serve and, most importantly, you, our American employees that our C suite has chosen not to respect: You," wrote Silva. Silva said Kirby’s vision might only be an "aspirational" one for the moment, but that its ambition showed?how far American has fallen behind domestic and international rivals. The unions that represent American's flight attendants and pilots have criticised the company's financial performance and its failure to match Delta Air Lines or United. Silva said APA’s message focused on the lack of a strategy for the long term, the "unacceptable state" of the airline and the union’s openness to "any way forward" which would allow pilots to work for an airline who?values and respects them, and that "not only competes, but leads the industry." Silva wrote: "It is clear that bold ideas and leadership will be required to restore American Airlines to its rightful place as a global airline." (Reporting and editing by Edmund Klamann; Rajesh Kumar Singh)
-
American Pilots Union Chief says United CEO's idea of a merger showed 'boldness'
The head of American Airlines’?pilots' union,?Scott?Kirby, told his members that the "bold vision'' of United Airlines CEO Scott Kirby's merger 'idea was exactly what the carrier needed. However the union did not endorse a tie-up of the two airlines. Nick Silva, president of the Allied Pilots Association, said in an email sent to pilots on 'Monday that Kirby’s vision can be "transformative" both for passengers and communities, as well as American Airlines pilots. Silva, who was criticized by American's unions for the carrier's poor financial performance, used Kirby’s proposal to criticize the leadership of the company. American didn't immediately respond to an?request for comments on the issue. United announced 'last month that it had ended its pursuit for a merger with American after the rival carrier declined to engage in a first approach. American has said that a merger with United would be bad for the competition and consumers. (Reporting and editing by Edmund Klamann; Rajesh Kumar Singh)
-
Southwest considers hiring Spirit Airlines mechanics in advance of the Boeing MAX 7 arrival
Southwest Airlines is interested in hiring aircraft mechanics from the now-defunct Spirit Airlines. A union official announced this on Monday, as Southwest Airlines prepares to receive Boeing's 737 MAX 7 jets early next year. The U.S. airline is hiring mechanics to support its red-eye flights, and in anticipation of the arrival of the MAX 7 jet early in 2027. This will be pending certification by the Federal Aviation Administration this year. Bret Oestreich is the president of Aircraft Mechanics Fraternal Association. He has talked to executives at Texas based Southwest about hiring mechanics who were employed by Spirit when it ceased operations on Saturday morning. Both airlines have members of the union. Oestreich added that Southwest was also replacing retiring mechanics. Spirit landing slots, engines, and aircraft will be in high demand, as the airline industry struggles to find new planes and spare parts and is battling congestion at U.S. airports. American Airlines, too, is reportedly interested in Spirit mechanics. Southwest has informed its pilots that it plans to hire 1,072 new pilots this year. This is 200 more than was expected, according to a source with knowledge of the situation. A second source warned that the number may be lower if jet-fuel prices continue to remain high. Southwest did not comment on hiring targets but stated that it "continually evaluates new talent". Surging jet fuel costs due to the U.S./Israeli war against Iran are squeezing airline margins and pushing some airlines to the edge. Airlines are also trying to introduce more fuel-efficient planes, like the MAX, into their fleets in order to cut operating costs and?ground older planes which consume more fuel. Southwest Airlines will be the first airline to receive a MAX 7 aircraft. CEO Bob Jordan has stated that he anticipates the plane to be certified in August 2026. Boeing CEO Kelly Ortberg stated in April that the U.S. aircraft manufacturer expects certification to take place this year, with deliveries starting in 2027.
China is the main route for foreign cars to enter Russia, avoiding Ukraine's war sanctions
According to five people who are involved in the trade, registration data and interviews revealed that tens of thousands cars were being exported to Russia from China under gray-market schemes. These schemes often bypass Western and Asian government sanctions and the commitments made by automakers to leave the Russian market.
In response to Russia's invasion of Ukraine in?2022, the sanctions and pledges were made. The trade of these cars, from Toyotas to Mazdas and German luxury models, continues to thrive partly because informal networks allow Russian dealers to order the vehicles through Chinese intermediaries. This is shown by interviews and data collected by Russian research firm Autostat.
According to data and sources, the majority of vehicles are either made in China (where many international brands work with local partners) or they are shipped through China after being manufactured somewhere else. The number of zero-mileage used vehicles is increasing. These are new cars that dealers and traders register as "sold in China" before reclassifying them as used. This practice was highlighted last year as a sign of China's hypercompetitive and highly subsidised car market. It allows automakers and dealers inflate their sales figures, collect subsidies, and export surplus cars. Zhang Ai Jun is a former car trader in Sichuan who said that traders moving European, Japanese, and South Korean brands from China to Russia would classify the cars as "used" to avoid having to obtain automaker approval to sell them to Russia. She said, "This is a way to export more easily." In China, zero-mileage cars are heavily discounted. In Russia, however, these cars are sold at prices that are similar to those of never-registered brand new vehicles, according to documents and dealer quotes.
It is the first news outlet to report on the Autostat data. This includes China becoming the main conduit for foreign cars to enter Russia, and automakers avoiding Russia sales restrictions by classifying their new vehicles as used. Dmitry Zazulin is the sales director of Panavto-Zapad in Moscow. He said that many customers are interested in buying and driving cars from Western brands such as Mercedes. "At the moment, however, we are only able to bring them into the country through parallel channels," said Dmitry Zazulin, sales director at Panavto-Zapad in Moscow.
Mercedes-Benz said it prohibits sales to Russia. BMW, Volkswagen, and other automakers in regions that impose sanctions also stated they are working to prevent unauthorised exports. This includes through dealer training and contractual clauses. Mercedes, BMW and other automakers from regions imposing sanctions said they prohibit sales to Russia and are doing their best to prevent unauthorized exports. This includes through training and contractual clauses with dealers.
BMW has instructed its China retail operation "to oppose any possible vehicle exports to Russia." It added that if cars do enter Russia, they will be gray-market imports and "this is outside of our spheres of influence – as well as against our wishes."
The Russian dealer who only wanted to be identified as Vladimir said that his Vladivostok dealership does not stock restricted foreign vehicles, but instead buys them from Chinese traders one by one in order to fulfill customer orders. He said that there are many middlemen. This dealer knows this one, that dealer knows that other one and so on.
DATA REVEALS SCALE of TRADE
Autostat's data shows that sales are in the thousands. Autostat's data shows that imports from China are increasing in number and represent a larger share of vehicles imported from Western or Japanese brands registered in Russia.
Data shows that the number of these vehicles produced in China has doubled since 2023. Autostat reports that they now make up nearly half of all the vehicles made in countries that impose sanctions and sold in Russia by 2025. Since the Russian invasion of Ukraine in early 2022 more than 700,000.000 vehicles have been sold in Russia by all these foreign brands.
Autostat data shows that Russians purchased more Toyotas than any other foreign brand, except for Chinese. The automaker, however, said that it would stop sending new cars to Russia in 2022. "Toyota doesn't export new vehicles into Russia," said the company without addressing Autostat figures. Mazda, who also had a significant number of sales, made the same statement and said that any Mazdas that were sold in Russia, "were resold by third parties outside Mazda's control."
Sebastiaan Bennink is a sanctions specialist at the European law firm Bennink Dunin-Wasowicz. He said that restricted products often find their way into Russia, even though industry players try to stop them.
Bennink says that there are so many ways of skirting sanctions, it is "almost impossible" to stop certain cars from reaching Russia.
Autostat's statistics, which show that China is the major route for vehicles to reach Russia, could not determine the other routes.
According to the German economy ministry, customs authorities investigate violations of sanctions regularly and work with counterparts from other EU countries in order to implement measures.
The Japanese Ministry of Economy, Trade and Industry has said that automakers and exporters are bound to its sanctions rules. However, it declined to comment on trade of Japanese vehicles between China and Russia.
The South Korean trade ministry stated that it has taken steps to stop the circumvention of export control and has cracked down on indirect car exports to Russia. China's Commerce Ministry and Russia's Industry and Trade ministry did not respond to requests for comments. Both countries have stated that they oppose unilateral sanction and consider them illegal.
RUSSIA SALE OF FOREIGN BRAND, CHINA MADE CARS SOAR
All of the major automotive sanctioning bodies, including the European Union, United States, South Korea, and Japan, have imposed similar sanctions. The sanctions generally prohibit the sale of cars above a certain cost or with larger engines in Russia, as well as?all EVs' and hybrids. These automakers also committed to ending or severely restricting their Russia business.
Autostat data show that these efforts have reduced the Russian sales of vehicles in regions subject to sanctions from over one million in 2020 to just one-eighth.
The data show that sales of German and Japanese-made cars made in China are on the rise. Some industry analysts attribute this trend to an increase in exports for zero-mileage cars.
Some industry data sets do not include these vehicles; GlobalData, for example, did not report any official new-car purchases of German brands this year in Russia. Autostat's data captures the sales, because it is based on registrations of new cars in Russia. Imported vehicles with zero miles are treated as new, regardless of whether or not they were registered in China.
Autostat's data shows that in Russia, nearly 30,000 Toyotas were bought last year. Nearly 24,000 were manufactured in China. Mazda sold nearly 7,000 cars during the same time period, with almost all of them being made in China. According to two China auto-retailers, Toyota hybrids are the most popular Japanese brands in Russia.
GERMAN LUXURY SUVS SLIP THROUGH GRAY-MARKET CHANNELS
German cars are also highly prized. Autostat data showed that nearly 47,000 new BMWs, Mercedes, Volkswagen Group vehicles including Audi, Porsche, and Skoda were registered in Russia during the last year.
The data shows that more than 20,000 vehicles were made in China. According to industry analysts and a person involved in the importation of vehicles into Russia, many passed through China en route to Russia. Vladimir, a Russian car dealer, stated that most foreign cars are imported via China, regardless of their origin.
According to Felipe Munoz of the Car Industry Analysis platform, the Mercedes G-class is a popular model among Russian elites. This boxy off-road car can be purchased for 120,000 Euros, which is about $142,700. It's only made in Austria.
The shipping documents of dozens of German luxury SUVs imported from China to Russia, including the Mercedes GLC 300 or the BMW X1 xDrive25 were also reviewed.
Munoz stated that "given the growth in trade between Russia, China and Germany in recent years, it's obvious to conclude many of these cars imported from Germany end in Russia."
(source: Reuters)