Latest News
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MercadoLibre will invest $11 billion this year in Brazil
MercadoLibre, an e-commerce company, said that it would invest?57 billion reais (about $10.9 billion) in?its main market Brazil this coming year. This is a 50% increase from 2025. MercadoLibre stated that the money, which includes operating costs and expenses will primarily be used to expand its logistics, strengthen its ecommerce marketplace platform, and?increase its credit portfolio for its fintech Mercado Pago. The company, based in Uruguay, but relying on Brazil for more than half of its revenues, plans to expand 14 fulfillment centers in Brazil this year. This will bring the total number up to 42. MercadoLibre said it would 'create 10,000 jobs by 2026 in Brazil, focusing on financial services, technology and logistics. By the end of the year, the 'total number of workers in the country will be more than 70,000. The company announced earlier this month that it would invest $3.4 billion in Argentina this year, its third-largest revenue market behind Mexico and Brazil. ($1 = 5,2546 reais). (Reporting and editing by Kyra Madry.)
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UPS pulls its latest driver buyout program in the central region states
The union reported that United Parcel Service informed the International Brotherhood of Teamsters on Tuesday of its decision to withdraw their latest "driver buyout" scheme in the central region states. The decision comes after the delivery giant announced that it would proceed with its plan to?offer $150,000 buyout packages for its drivers, after a federal judge rejected the union’s bid to stop?its workforce cutting program based on concerns about contract violations. Teamsters sued UPS on February 9 for its January 27 announcement that it would cut up to 30 000 jobs and close 24 facilities in order to move away from millions low-profit deliveries made for Amazon.com. Its largest customer. The latest buyout program, called the Driver Choice Program by UPS, asked drivers to accept an 'unique lump-sum' payment in exchange for a legal commitment to never work again for UPS. The Teamsters Central Region is comprised of?13 U.S. States and has more than 68,000 unionized rank-and-file UPS employees. Reporting by Aatreyee dasgupta from Bengaluru, and editing by Shailesh Kuber
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Canada talks Keystone XL revival to Trump Administration officials
Canada's Natural Resource Minister Tim Hodgson revealed Tuesday that Canadian officials met with Trump administration representatives in Houston to discuss a?"proposed revival" of a canceled Keystone XL pipeline. Hodgson and Canada's ambassador to the 'U.S.', Mark Wiseman discussed the project proposed by Canadian Pipeline Company South Bow and their U.S. Partner Bridger Pipeline, which could increase Canada’s crude exports into the U.S. Hodgson, in an interview given at the CERAWeek conference by S&P Global, said that Canada is framing the prospect for a new oil pipeline across the border as a means to help the U.S. maintain energy security despite the fact that the war in Iran has disrupted supplies and raised prices for consumers. "Yes, (the ?U.S.) They produce 12-13 million barrels of oil per day. "But they consume 20",?Hodgson stated. They know that Canada makes up about 63%. Donald Trump's tariffs wars and threats of annexation have caused tensions with Canada. Trump has repeatedly called for lower prices of oil, and many U.S. refining companies depend on the approximately 4.4 million barrels per day of Canadian exports sent south of the border. Hodgson refused to confirm whether or not the Trump administration had indicated that it would support the South Bow/Bridger Project, or make any attempts to speed up the U.S. regulatory clearances required. Hodgson said, "I'd say that they (Wright & Burgum) are thoughtfully examining all the options in order to ensure the world has enough oil for it to function." The White House didn't immediately respond to an inquiry for comment. Hodgson also said that he made it clear at the meeting,?that Canada aggressively works to expand its oil sales to non-U.S. market by completing a planned expansion of the Trans Mountain Pipeline which runs from Alberta up to the Pacific Coast. Mark Carney, the Prime Minister of Canada, has been traveling around the world to court new customers for Canadian energy. This is an attempt to reduce the country's dependence on the U.S. We need to sell more to other people, not less, as Prime Minister Harper has stated. Hodgson stated that we need to sell to more people. (Reporting and editing by Ni Williams in Houston, Amanda Stephenson from Houston)
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US claims more than 450 TSA agents have resigned since funding standoff
Since the beginning of the partial government shutdown on February 14, more than 450 Transportation Security Administration (TSA) officers have resigned, causing massive delays at?U.S. airports. The Department of Homeland Security announced on Tuesday that massive delays have occurred at airports across the United States. Around 50,000 TSA agents are not being paid and will miss their second full pay on Friday. On Monday, hundreds of U.S. Immigration agents and Homeland Security Investigations officers deployed to 14 U.S. Airports in order to assist with?security screening. This includes airports that have seen wait times exceeding three or four hours. DHS reported on Monday that nearly 11% or 3,200 TSA officers nationwide did not show up to work. ICE and DHS law enforcement personnel are paid during the shutdown. DHS reported that on Monday, over 30% of TSA employees were absent from New York JFK Airport, Baltimore, Houston Hobby airport, Atlanta, and New Orleans. On Monday, ICE agents were seen walking through the New York LaGuardia terminal and not doing any of the duties that TSA officers would normally perform. In other airports, social media posts showed ICE agents standing next to TSA officers checking ID. DHS rushed to dispatch?ICE agents following a weekend statement by?President Donald Trump that they would be stationed at airports if Democratic legislators?didn't reach a funding agreement. Democrats are 'holding up funding for DHS, while demanding changes to the rules that govern its immigration operations, following the shooting of U.S. citizens Alex Pretti and Renee Good in Minneapolis, sparking outrage from the public. Republicans rejected Democratic proposals for funding TSA as they negotiate ICE reforms. (Reporting and editing by David Shepardson, Rod Nickel; Chizu Nomiyama)
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Delta suspends special treatment to Congressmen as airport chaos increases due to shutdown
Delta Air Lines announced on Tuesday that it would suspend special services to members of Congress due to the partial government shutdown, which has impacted U.S. air travel. Delta suspends special services for members of Congress who fly Delta temporarily due to the impact on resources caused by the government shutdown. Delta's priority is safety. Delta's no. 1 priority is to take care of its people and customers. This has become increasingly difficult in today's environment. Delta, along with other U.S. Airlines, offers special services to lawmakers who travel frequently between Washington and the state and are responsible for overseeing the air travel system of America. The airline has said that members of Congress will not receive airport escorts, VIP treatment, or other'services such as seat upgrades, rebookings, etc.'. However, lawmakers can still make reservations by calling a special number. In recent days, travelers have faced long waits for security screenings due to a rise in resignations and absence rates among Transportation Security Administration workers. These employees have been working without pay since Congress let funding for Department of Homeland Security expire mid-February because of a disagreement over immigration enforcement. Over the objections from TSA workers who claim they are not properly qualified for the job, President Donald Trump 'deployed' immigration agents to more than 12 airports in order to assist with crowd control. Delta CEO Ed Bastian said to CNBC last week it was time "to pay TSA employees". Bastian said, "It is inexcusable," noting that TSA agents were also?forced last fall to miss their paychecks. It's absurd to see them used as political chits. We're outraged."
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Energy Minister: Kazakhstan crude production restored after CPC interruption
Energy Minister Yerlan AKkenzhenov announced on Tuesday that Kazakhstan's crude oil production had been restored - following a disruption in loading at the CPC pipeline in _December and January. Akkenzhenov, speaking on the sidelines of the Conference, said that the country was "very dependent" on the CPC Pipeline and it was important to keep it away from sanctions and attacks. Tengiz, the oilfield that accounts for 40% of Kazakhstan's production, was unable to produce crude oil due to power outages and Ukrainian drone attacks. The minister stated that Kazakhstan now produces 1.7 million barrels of crude oil per day, plus 400,000 barrels a day of natural gas liquids and condensate. He said that Kazakhstan stands to gain from the rising prices due to the conflict in Iran, as 52% its budget is derived from oil revenue. Companies operating there could also invest more money to increase production. Akkenzhenov, a member of OPEC+, said that the country had started drilling deep wells. Four or five are currently underway. Akkenzhenov replied that "we have not had any meetings with OPEC+" when asked if the 'producer group, and its 'allies, could release more barrels amidst the Iran War which has tightened the physical oil market. (Reporting and editing by Nathan Crooks, Ni Williams, and Georgina McCartney in Houston)
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New York's LaGuardia Airport faces a second day of delays and cancellations following a collision
New York's LaGuardia Airport is experiencing significant delays and cancellations for the second day in a row following the fatal collision between an Air Canada Express plane and a firetruck on the runway Sunday night. Federal Aviation Administration has said that it doesn't expect to see one of two runways in New York reopen before Friday. FlightAware, an online flight tracker, reported that 221 flights (20%) had been cancelled and 214 were delayed as of 9:45 am EDT. The FAA warned that major delays would continue throughout the day. Jennifer Homendy, chair of the National Transportation Safety Board (NTSB), said that she will hold a news conference on the investigation later today and reveal'some findings' from the cockpit data recorders and flight data records recovered from CRJ900 jet operated by regional partner Jazz Aviation. The NTSB will interview a controller of air traffic who was dealing with another emergency just before the crash. Air traffic control staffing is a concern at U.S. major airports, following the accident that killed two pilots while seriously injuring nine others. Homendy stated that the collision occurred shortly before midnight Sunday during a controller's overnight shift. U.S. experts in air safety said that communications between the plane landing, the controllers and the trucks will be key areas of the investigation. Multiple factors can cause air crashes. According to separate audio uploaded by liveatc.net an unidentified controller, who appears to have been?the one responsible for the crash?, told another pilot that he was dealing with an earlier emergency. He said, "I'm sorry," in a trembling voice. Four commercial pilots said that air traffic controllers at LaGuardia, as well as other major airports, routinely handled multiple flights. (Reporting and editing by Chizu Nomiyama, Franklin Paul, and David Shepardson)
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Kenya Airways will make a $138 million loss before tax in 2025
Kenya Airways reported a loss before tax of 17.93 billions shillings (138.30 millions) for 2025 due to falling revenues. In 2024, one of Africa's largest airlines suffered a major setback after it made its first profit before tax in more than a decade. The airline's total revenue dropped to 161.47 billion from 188.50 in 2024. Mary Mwenga, Chief Financial Officer of the company, said that the decline in performance was partially due to the temporary grounding of three wide-body Boeing Dreamliner 787-8 jets because of global supply chain constraints. The shilling currency gained more than 20% against the dollar in 2024, which helped the company's?profit.
The US is working with Canada to permit a partial Keystone XL revival
A White House official revealed on Tuesday that the Trump administration was working with Canada to obtain the permits required for a proposed revival part of Keystone XL's oil pipeline.
If the pipeline is built, it could increase Canada's crude oil exports to America by over 12%.
Keystone XL, the project that was cancelled under the administration of?former President Joe Biden', is permitted in Canada, but a Presidential permit will be required for the pipeline to cross Canada-U.S. borders. The state regulatory permits are also required.
The official stated that "the President's energy team worked diligently with our Canadian partners to work through the permit process."
Canada's Natural Resource?Minister Tim Hodgson and Canada's ambassador to the U.S. Mark Wiseman discussed the proposed project with U.S. Energy Secretary Chris Wright and U.S. Sec? of the Interior Doug Burgum at a meeting on Monday in Houston. Hodgson, in an interview at the CERAWeek conference by S&P Global on Tuesday, said that Canada frames the prospect of a cross-border pipeline as a means to help the U.S. maintain energy security despite the disruptions in supplies caused by the war in Iran and the rising prices for consumers.
"Yes, the U.S. is the largest oil producer in the world. They produce 12-13 million barrels of oil per day. Hodgson stated that the U.S. consumes 20 barrels per day. "And they know that Canada makes up about 63% of the difference," Hodgson said.
Donald Trump's tariff wars and threats of annexation have caused tensions with Canada. Trump has repeatedly called for lower oil prices, and many U.S. refining companies depend on Canada's roughly 4.4 millions bpd exports. Hodgson stated that he made 'clear' during the meeting, that Canada is actively working to increase its oil exports to non-U.S. market by completing the planned 300,000.bpd extension of the Trans Mountain Pipeline that runs from Alberta up to the Pacific Coast.
In an effort to reduce Canada's dependence on the U.S. energy market, Prime Minister Mark Carney has traveled the world courting new customers.
We need to sell more to other people, not less, as Prime Minister Harper has stated. Hodgson stated that we need to sell to more people. (Reporting and editing by Ni Williams in Houston, Amanda Stephenson from Houston)
(source: Reuters)