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Former UK Ambassador Mandelson is released following arrest for Epstein revelations
Peter Mandelson, the former British ambassador to America, was released on Tuesday from police custody after being arrested at London's Metropolitan Police Department for suspicion of misconduct in office. This followed revelations about his relationship with Jeffrey Epstein. Mandelson, 72 years old, was 'fired' from the most prestigious post in Britain’s diplomatic service in September when it became clear how close he had become to the convicted sex offender. The police began an investigation of Mandelson earlier this month after the government of Keirstarmer passed along communications between Epstein and the former ambassador. In a statement about an investigation involving a former minister, London's Metropolitan Police stated that officers had arrested a man aged 72 on suspicion of misconduct. Mandelson was captured leaving his central London house on Monday afternoon. He was driven away by a car accompanied by plainclothes police officers wearing bodycams. In a separate statement, it was stated that he'd been released on bail pending a further investigation. He was seen returning to his home around 2200 GMT. An arrest is a sign that police suspects a crime was committed, but it does not mean guilt. Mishcon De Reya, a law firm representing Mandelson, said that the arrest of Mandelson was due to a "baseless rumor" that he planned to leave and move abroad. The report said Mandelson had been arrested despite a police agreement that he would attend an?unpaid interview next month and that the authorities were required to provide evidence justifying the arrest. Emails show MANDELSON and EPSTEIN are closer than thought The U.S. Department of Justice released emails between Mandelson, Epstein and others in late January. They showed that the two men were closer than was previously known. Mandelson also shared information with Epstein when he served as a minister under former Prime Minister Gordon Brown in 2009. Mandelson has said that he regrets his association with Epstein. He resigned this month from Starmer's Labour Party, and quit his post in the upper chamber of parliament. He hasn't commented publicly on the new revelations or replied to any messages asking for comment. Police searched Mandelson's residences in London and West England earlier this month. Andrew Mountbatten Windsor, the younger brother of King Charles, was arrested last week on suspicions of misconduct in office. This is based on allegations that he had sent Epstein confidential documents from government. He has always denied all wrongdoing. STARMER IS UNDER PRESSURE ABOUT VETTING BEFORE ASSESSMENT A conviction for misconduct by a public official carries a maximum life sentence and must be handled in the Crown Court which deals only with serious criminal offenses. Mandelson's relationship to Epstein is at the heart of a British scandal that forced two high-ranking government officials to resign. Epstein died in prison in 2019 while awaiting a trial on sex charges. Starmer, who has been called to resign over Mandelson’s appointment, is now under scrutiny again after the parliament demanded that documents related to his vetting be released. On Monday, a minister said that the documents would be released in early March. MANDELSON FORCED TWICE TO REIGN FROM CABINET Mandelson's career in British politics has been turbulent and long. He rose to prominence as one of Tony Blair's New Labour architects in the late 1990s. Mandelson was forced twice to resign from the cabinet. First in 1998, for failing to disclose that he took a loan from a friend, and then in 2001, after accusations that he tried to influence an application for a passport. He was appointed as a Minister in Brown's Labour Government from 2008 to 2010. In late 2024, he returned to public service when?Starmer appointed him Ambassador to the United States. Some?supporters Starmer initially viewed his appointment as ambassador to United States as a clever move. He won an early victory when he made sure that Britain was the first nation to reach a deal to reduce some of Donald Trump's tariffs with the United States. He was fired after a few weeks when documents revealed his close relationship with Epstein. Starmer said Mandelson lied during the vetting procedure about his relationship with Epstein. (Reporting and editing by William James, Andrew Heavens, Daniel Wallis and Jon Boyle)
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L'Oreal and Dyson are the latest companies to seek refunds on Trump tariffs
Court filings show that the French beauty group L'Oreal, British vacuum'manufacturer Dyson, and contact 'lens manufacturer Bausch + Lomb are the 'latest' corporations to sue the U.S. government for refunds on tariffs paid as part of President Donald Trump's trade emergency measures. This comes days after the U.S. Supreme Court ruled these duties illegal. These cases were filed in the U.S. Court of International Trade on Monday, joining a long list of prominent companies that have sued since Friday's landmark decision. Sol de Janeiro, a U.S. skincare company and fragrance company and global transportation company FedEx also filed complaints in the last week. Court documents reveal that more than 1,400 importers, including tiremaker Goodyear and big-box retailer Costco, have already filed lawsuits. Trade lawyers are expecting a new wave of lawsuits, as companies try to recover billions in duties. A lower court still needs to work out the recovery process, but it could take several months or even years. Penn Wharton Budget Model's economists say that up to $175 billion of U.S. tax collections could be refunded after the Supreme Court ruled on Friday, 6-3, that Trump exceeded his authority in using the International Emergency Economic Powers Act, a sanctions law, in order to impose tariffs against imported goods. The companies that have filed suit represent only a small fraction of those that are eligible. L'Oreal's 'case' was filed by L'Oreal Travel Retail Americas. This is the division that sells beauty 'products' in duty-free 'and travel-related shops. L'Oreal and Dyson, Bausch + Lomb, Sol de Janeiro, and Bausch + Lomb said that in their filings, they were the importer of record 'on goods subjected to IEEPA tariffs. L'Oreal didn't say how much it wants to be refunded. Requests for comments were not immediately responded to by the companies. In the same way as in other cases, U.S. Customs and Border Protection and its commissioner Rodney Scott, as well as the United States of America, were named defendants. CBP and White House did no respond immediately to requests for comments.
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Transport Canada certifies Gulfstream G700 & G800 jets following Trump spat
Transport Canada approved two large-cabin Gulfstream jets, weeks after the U.S. Donald Trump has threatened to take action against Canada's aircraft sector because its regulator is taking too long in certifying the U.S. made planes. According to a document released by the government on Monday, Transport Canada has certified Gulfstream Aerospace's flagship G700 and G800 planes. The company's G500 and G600 smaller, shorter range planes were first certified on February 15, according to a government document. In a post on social media, Trump stated that Canada took too long to certify aircraft. He threatened to respond by decertifying Canadian made Bombardier Global Express jets, and by imposing a?50% tariff on all aircraft manufactured in Canada. Gulfstream is owned by General Dynamics, a U.S. company. This threat is part of a series of provocations that President Trump has made against Canada since his re-election in January last year. Trump has threatened to annex Canada and he said that he would block the opening of a Canadian-financed new bridge connecting Detroit, Ontario, with Windsor, Michigan. The certification issue is unclear, since the Gulfstreams are already certified by the U.S. Federal Aviation Administration and don't need Canadian certification in order to fly there. According to global aviation regulations, it is the responsibility of the country that designed an aircraft to vouch for its safety. Usually, other countries validate the decision made by the primary regulator. Nate Sizemore, a spokesman for the U.S. Department of Transportation on Tuesday, said that "the President was clear": fair trade is important in all sectors including aviation. Aviation experts were alarmed by the incident and argued that planes should only be certified based on safety, without political influence. Richard Aboulafia is the managing director of AeroDynamic Advisory, a U.S. aerospace consultancy firm. Mark Carney, the Canadian Prime Minister, has criticised Trump's use tariff threats as a negotiation tactic. In a speech given in Davos in January, Carney said that other nations must accept that U.S. led rules-based international order is over. He had traveled to China earlier that month in order to negotiate a deal with his U.S. competitor. Gulfstream's spokesperson stated that the private jet manufacturer is working with FAA and Transport Canada. They are "optimistic" about the progress being made. Reporters in Ottawa were told by Transport Minister Steven MacKinnon that the approval of the regulator was not due to pressure from the Trump Administration. He said that there were requests for certification of Gulfstream aircraft. They were in different stages." (Allison Lampert, Montreal; David Shepardson, Washington; editing by Chizu nomiyama and Nick Zieminski).
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L'Oreal and Dyson are the latest companies to seek refunds on Trump tariffs
?French beauty company L'Oreal, British vacuum maker Dyson, and contact lens manufacturer?Bausch + Lomb are the 'latest' corporations to file a lawsuit for'refunds' of tariffs paid as part of President Donald Trump's trade emergency measures. This comes days after the U.S. Supreme Court ruled that the duties were illegal. These cases were filed in the U.S. Court of International Trade on Monday, joining a long list of notable companies that have sued following Friday's landmark decision. This week, the global transportation company FedEx as well as U.S. skincare company Sol 'de Janeiro filed complaints. Court documents reveal that more than 1,400 importers, including tiremaker Goodyear and big-box retailer Costco, have already filed lawsuits. Trade lawyers are expecting a new wave of lawsuits, as companies attempt to recover 'billions' of dollars in duties. A lower court must still work out the recovery process, but it could take several months or even years to resolve. Penn Wharton Budget Model's economists say that up to $175 billion of U.S. tax collections could be refunded after the Supreme Court ruled on Friday, 6-3, that Trump exceeded his authority in using the International Emergency Economic Powers Act, a sanctions -law, to impose duties on imported goods. The companies that have filed suit represent only a small fraction of those that are eligible. L'Oreal's case is filed by L'Oreal Travel Retail Americas. This division sells beauty products at duty-free shops and other travel-related stores. L'Oreal and Dyson were listed as the importer of record for IEEPA tariffs. Bausch + Lomb, Sol de Janeiro, and Bausch + Lomb also filed documents. L'Oreal didn't say how much it wants to be refunded. Companies did not respond immediately to requests for comments. In the same way as in other cases, U.S. Customs and Border Protection and its commissioner Rodney Scott, along with the United States of America, were named defendants. CBP and White House didn't immediately respond to comments.
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US LNG dominance to continue growing ten years after first cargo
The United States has grown rapidly in the 10 years since the first cargo of ultra-cooled fuel was exported from Louisiana. Analysts and executives in the industry predict that U.S. LNG capacity records will double within five years. The question is whether the world market will be able absorb these supplies, which are already showing signs that it's saturated. Shell's CEO Wael Sawan stated earlier this month, that the LNG market was growing at an annual rate of?3%. This is faster than the growth of the gas industry. Cheniere Energy exported its first LNG cargo on February 24, 2016, from Sabine Pass, a facility in Louisiana. This marked a new beginning for the U.S. LNG Industry, which would eventually surpass the likes of Qatar and Australia. Alaskan LNG cargoes were previously exported in small quantities. According to LSEG data and EIA, the United States now processes around 18 billion cubic foot of natural gas per day into LNG. This makes it the world's largest LNG supplier. The measurement of gas at the wellhead takes place in cubic feet, while LNG is measured by metric tonnes. The U.S. Energy Information Administration stated in a Tuesday statement that "LNG exports increased from the United States for several reasons including abundant natural gas supplies and reserves, flexibility of LNG export contracts and relatively low feedgas prices." The EIA said that the expansion of LNG infrastructure in the U.S. was boosted by an increase in international demand, particularly from Europe after Russia invaded Ukraine. EIA reported late last year LNG exporters have announced plans to increase U.S.?liquefaction capability up to 28,7 bcfd in 2029 from 11.4 bcfd when 2024 began. Cheniere and Venture Global LNG are two of the three largest LNG producers in the world. Cheniere has said that it has invested $50 billion over the last decade in expanding its two export facilities and hopes to double production to 100 million tonnes per year by the mid-2030s. "At the close of 2016, our operational capacity was about 9 mtpa." "Today, it is about 52 mtpa, and growing, as we continue bringing Corpus Christi Stage 3 train online," Cheniere said in an email on Tuesday. Venture Global did no immediately respond to a comment request. Curtis Williams, Houston Reporting Nick Zieminski Editing
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Source: Carney was aware of South Bow's Keystone XL plans prior to the White House meeting.
Sources familiar with the issue said that Canadian Prime Minister Mark Carney knew about the plans of 'oil company South Bow to resurrect parts of the canceled Keystone XL Pipeline?to the United States, when he brought the idea up to U.S. president Donald Trump last October. Sources said that South Bow, the Canadian company responsible for the Keystone XL pipeline cancellation, may revive some of the existing line as part of an expansion project aimed to transport more Canadian oil into the United States. Carney raised the prospect of reviving Keystone XL, an oil pipeline that runs from Alberta to the United States as part of Carney's efforts to ease tensions between the two countries. Carney was being pressed by Canadians to deal with the painful U.S. Tariffs on autos, steel and other goods. He asked Trump in October if he would be interested in a Keystone project that had Canadian support. South Bow at that time said it was "moving on" from Keystone, but supported efforts to increase transportation of Canadian oil. Carney knew then that South Bow had been in 'talks' with potential U.S. Partners to revive a?part of Keystone XL, a source familiar with the issue said. The source stated, "He was certainly aware that there might be private sector interest." The source refused to give their name in order to speak openly about the issue. Source: The Canadian government has no involvement in the South Bow proposal. However, energy will be a major part of negotiations when the CUSMA is reviewed. A spokesperson from Carney's Office declined to comment and referred questions to the Department of Natural Resources of Canada. Charlotte Power, a spokesperson for Natural Resources, stated in an email reply: "Canada has the energy that the world needs. As the federal government prepares to review the CUSMA, we are actively engaging?industry?leaders and provinces?and territories?to ensure that our negotiating positions reflect Canada's economic interests. In an email, a spokesperson from Calgary-based South Bow confirmed that the company was evaluating a plan that would?leverage its existing infrastructure in Canada and permit corridors to connect with crude oil pipelines? in the U.S. The spokesperson did no specify which infrastructure they might use, or with what companies they would partner south of the border. Bridger Pipeline, a U.S. firm, recently submitted a proposal to Montana regulators. The proposal describes the construction of a 645-mile pipeline (1,038 km) that would begin near the U.S. Canada border in Phillips County, Montana and travel through Guernsey County, Wyoming. Bridger stated in his application that the purpose of the new pipeline would be to transport as much as 550,000 barrels of Canadian crude oil per day to the U.S. Market. Bridger declined comment. (Reporting and editing by Caroline Stauffer in Calgary, Amanda Stephenson)
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Telecom Italia sees 5-6% rise in core profit, announces share buyback
Telecom Italia, on Tuesday, announced that it would begin a share-buyback program of up to 400 million euros (471.48 mln). The company forecasted a 5%-6% increase in core profit this year. It also reported 2025 earnings which were in line with the expectations. The buyback will be the first form?of?shareholder compensation since 2022 when Italy's largest telecoms operator suspended dividend payments while embarking on a?complex restructuring centered on the sale of fixed-network assets. Earnings before Interest, Tax, Depreciation and Amortisation After Lease Costs (EBITDA AL) increased 6.5% to 3.7 billion Euros this year, boosted by growth both in its domestic operations as well as in Brazil, according to a?consensus provided by the company. TIM promised to reward investors with half the money from the sale of Sparkle, its subsea cable unit worth 700 million euros. The remaining 18.8 billion euros were used to pay off debt. TIM stated that the'share buyback' was subject to?the completion of a?Sparkle sale later in the year. ($1 = 0.8484 euros)
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Source: Ukraine hasn't given a date for Druzhba resume, despite Slovakia reporting a delay
Ukraine hasn't?made an?official announcement about resuming?oil?delivery via the Druzhba?pipeline, a Ukrainian source of energy?told, after Slovakia reported that Kyiv?had pushed?back?the resumption?of supplies to February 26, The source, who asked to remain anonymous due to the sensitive nature of the issue, said that "there was no official position on the Ukrainian side." The Slovakian economy ministry had earlier stated that Kyiv had informed Transpetrol, the operator of its oil pipeline system in Slovakia, that the resumption?of Druzhba delivery had been delayed another day until February 26. The Slovakian government announced the Druzhba Pipeline Outage on 13th February, long after Russian oil shipments via Slovakia and Hungary were stopped last month. Kyiv claimed that a Russian drone strike hit pipeline equipment in western Ukraine. Slovakia expected that flows would resume soon after the public announcement. It, along with Hungary and other countries, has blamed Ukraine. The European Commission's Ursula von der Leyen stated on Tuesday that Ukraine is being asked to speed up its repairs. She made this remark at a Kyiv briefing marking the fourth anniversary. Prime Minister Robert Fico announced on Monday that Slovakia's electricity grid operator will refuse to supply emergency electricity to Ukraine until oil flows resume through the pipeline. Ukraine has proposed "alternative transit routes" to ship oil into Europe while pipeline repairs are being carried out. The?Slovak Republic has said that blackmailing of electricity?supplies is not acceptable, and that stopping the emergency supply would have no impact on its power system. Reporting by Jason Hovet and Alan Charlish from Prague and Warsaw. Editing by Barbara Lewis and Mark Potter.
Sources say that Transneft, a Russian oil pipeline company, has cut off its intake of pipeline oil after a drone attack on a key pumping station.
Two sources with knowledge of the situation on Tuesday said that Russia's monopoly oil pipeline Transneft has cut crude intake by around 250,000 barrels every day following a drone attack from Ukraine on a pumping station servicing major oil hubs and ports on Monday.
This reduction in oil exports could worsen Russia's problems, as it struggles with lower shipments of its key products to India and Turkey due to stricter Western sanctions designed to force Moscow to reach a peace agreement with Ukraine.
Since the end of January, Russia has also suspended its remaining oil exports to Europe. These include refineries in Hungary or Slovakia.
According to Ukrainian security officials and industry sources, Ukrainian drones attacked the Kaleykino Station in the Volga Region of Tatarstan on Monday. The station serves the Druzhba Pipeline, which carries Moscow's crude oil to Eastern Europe and Russia's western ports.
One source said that the Transneft cut mainly affected shipments of Tatarstan's Tatneft producer.
Key Pumping Station
The drone attack caused an fire at the station. It has the capacity to pump around 1 million barrels a day. It is located near Almetyevsk, in Tatarstan. This is more than 1,200 kilometers (750 miles), from the Russia-Ukraine frontier.
Kaleykino, a major oil transportation hub in West Siberia, is located at this location. It was built in the 1970s and is an important junction for mixing and pumping oil.
Kaleykino is a major hub for supplying western ports, including Novorossiisk, Primorsk and the Druzhba Pipeline. It is an important hub to deliver fuels to Russian refineries.
Sources in the oil industry said that the extent of damage is still being assessed. However, if it is severe, this could have a negative impact on Russian oil exports including volume and quality.
One of the witnesses said that two?50,000 metric-ton tanks caught fire in the attack.
Transneft & Tatneft didn't?respond immediately to requests for comment.
Almetyevsk's administration claimed that Russian air defences shot down drones in the district. The debris ignited a fire within an industrial area. The report did not mention any damage to the Druzhba Pipeline or provide details.
The attack, which is 'the latest Ukrainian strike along the route', could increase tensions between Ukraine, Hungary, and Slovakia. Both countries have accused Kyiv for trying to "block oil flow through the pipeline" to their refineries.
Since January 27, Ukraine has suspended the shipment of Russian oil into Hungary and Slovakia. This is after a Russian drone attack on pipeline equipment was reported by Kyiv.
Hungary on Monday blocked EU sanctions against Moscow and a large loan for Kyiv, straining Europe’s pro-Ukrainian agreement on the eve the fourth anniversary of the war. Mark Potter edited this article.
(source: Reuters)