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French power supply is disrupted by striking workers
Data from EDF showed that on Tuesday, striking workers at the Paluel Nuclear Power Plant in northern France caused a disruption of about 1.5 gigawatts of electricity from the site. A spokesperson for the CGT, a hardline union, said that the disruption occurred on the last day of salary negotiation. The Paluel 2 & 4 reactors are affected by the nuclear supply interruptions. The Paluel 3 is offline due to planned maintenance, while the Paluel 1 is running normally. EDF's spokesperson said that the strike was limited to local actions. EDF data shows that the interruption to hydropower production of about 1 GW has also ended. Data from grid operator RTE revealed that the combined 2.5 GW of hydropower and nuclear disruptions was equal to about 4% France's total electricity production as of 1045 GMT. RTE data indicated that France would remain a net exporter of power throughout the day. The European spot electricity prices on Wednesday had already reached a multi-month high earlier, as the wind power production in Germany's neighbour is expected to fall to less than one third of its level from Tuesday. Colder temperatures will also likely drive up demand. Forrest Crellin is the reporter. (Editing by Louise Heavens, Mark Potter and Mark Potter.)
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Boeing jet deliveries fall to 13 in November after strike ends
Dec 10 - Boeing delivered 13 industrial jets in November, less than a quarter of the 56 jetliners it handed over to customers 12 months previously, the U.S. planemaker reported on Tuesday. Shipments were below 14 in October, when most of the business's airplane production was still closed down throughout a. seven-week-long strike that ended Nov. 5. Boeing restarted production of its best-selling 737 MAX last. week, which was first reported . The U.S. planemaker is attempting to increase 737 production to. a rate of 38 a month to produce much-needed earnings after it. burned billions of dollars in money during the first 3. quarters. However, it has actually been under heightened oversight by. the U.S. Federal Aviation Administration since a door plug blew. out of an almost new Alaska Airlines 737 MAX 9 during a. January flight. The company plans to resume production of its 767, 777 and. 777X in Everett in the days ahead, Boeing said in a statement. Boeing 787 production in South Carolina was not impacted by the. strike. Boeing has said that it is taking a cautious technique to. rebooting production and has prioritized quality, security and. worker training. That technique is reflected in the month's lower. delivery numbers, the company stated. November's deliveries consisted of 9 737s, two 777 trucks. and 2 787-9s, according to the company. U.S. provider United. Airlines took shipment of three airplane, consisting of 2. 737 MAXes and one 787. By contrast, after Boeing's last strike ended in November. 2008, it delivered four airplane that month. The company scheduled 49 gross orders during the month with 14. cancellations, including 34 737s and 15 767s for the U.S. Air. Force's KC-46 program. Germany-based TUI canceled orders for 14 and will rather. rent the aircrafts from BOC Air travel, leading to a net addition. of 20 brand-new 737 MAX orders. Year to date, Boeing has actually scheduled 427 gross orders and 370 web. orders after cancellations and conversions. After also adjusting. for accounting standards, Boeing scheduled 191 net orders. Boeing's European rival Airplane provided more than. 80 jets in November, Reuters reported previously this month.
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Oracle moves as income target miss spotlights tough cloud competitors
Oracle's shares toppled more than 9% on Tuesday after its quarterly earnings fell short of Wall Street expectations, signifying investor issues over fierce competition in the cloud organization amidst thriving need from AI company. At $172.78, the business was on track to lose almost $50. billion in market capitalization if losses hold. Oracle's shares have actually soared more than 80% this year through. Monday, as financiers cheered its financial investments to enhance its cloud. infrastructure to accommodate the growing demand for synthetic. intelligence and to bridge the space with market leaders. With the fast backlog construct appearing to level out,. financier focus most likely shifts towards the earnings declaration and. Oracle's capability to convert this need into speeding up. revenues and durable double-digit EPS development, Morgan Stanley. experts stated in a note. Oracle reported $14.06 billion in second-quarter profits, a. 9% increase from a year previously, but listed below experts' average. price quote of $14.11 billion, based on data assembled by LSEG. Financiers have been banking on AI-related firms as they. expect the innovation to be a strong future growth motorist. Oracle cloud infrastructure revenue remains increased as. demand for AI calculate grows on the platform, stated D.A. Davidson. in a note. A minimum of 21 brokerages raised their cost targets on the. stock, with two of them raising their expectations to $220. We likewise still think that the multi-cloud arrangements. formerly announced (like the ones with Azure and Google Cloud). assistance increase the margins of the tradition organization, which assists. offset the mix to OCI (though OCI margins are enhancing), stated. experts at Melius Research study, referring to the cloud service. Oracle's 12-month forward price-to-earnings ratio is 28.08,. compared to Microsoft's 31.86 and Amazon's 36.66.
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Alaska Air raises Q4 revenue projection on strong travel demand, enhanced costs
Alaska Air raised its fourthquarter revenue projection on Tuesday, owing to robust travel need and enhanced rates, sending the provider's shares rising 13% in early trading. Excess supply of seats at the start of this year's. summertime travel season required airlines to offer discount rates to fill. their aircrafts, injuring their margins. Since then, U.S. airline companies. have decreased their capability and managed to reinforce rates. power. The Seattle, Washington-based provider anticipates its revenue per. share for the fourth quarter to be in between 40 cents and 50. cents, compared to the range of 20 cents to 40 cents forecast. previously. Alaska Air, which is hosting its 2024 investor day on. Tuesday, also forecast its 2025 profit above experts' estimate. Besides, the company expects to gain from its just recently. finished acquisition of competing Hawaiian Airline companies. The mix with Hawaiian offers us the scale to be. stronger than either of us might have been on our own-- offering. guests what they want, where and when they want it, Alaska. Chief Financial Officer Shane Tackett said. To expand its worldwide existence, Alaska announced new non-stop. services to Tokyo, Japan and Seoul, South Korea utilizing Hawaiian's. widebody aircraft. Alaska Air expects its revenue for 2025 to be at least $5.75. per share, compared with experts' average expectation of $5.50. per share, according to data compiled by LSEG.
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Airlines suspend flights as Middle East stress increase
Concerns over a wider conflict in the Middle East have prompted international airline companies to suspend flights to the region or to prevent afflicted air space. Below are a few of the airline companies that have cancelled services to and from the area: AEGEAN AIRLINES The Greek airline company has cancelled flights to and from Beirut until March 29 and to and from Tel Aviv till Dec. 9. From Dec. 10, some flights to and from Tel Aviv will operate as typical. AIR ALGERIE The Algerian airline company has suspended flights to and from Lebanon until more notification. AIRBALTIC Latvia's airBaltic has actually cancelled flights to and from Tel . Aviv till Jan. 28. AIR FRANCE-KLM Air France has actually extended its suspension of Paris-Tel Aviv. flights till Dec. 31 and Paris-Beirut flights up until Jan. 5. KLM has actually extended the suspension of flights to Tel Aviv till. the end of the year at least. The group's low-cost unit Transavia has cancelled flights to. and from Tel Aviv, Amman and Beirut till end-March. AIR INDIA The Indian flag carrier has suspended flights to and from. Tel Aviv up until more notice. BULGARIA AIR The Bulgarian carrier has cancelled flights to and from. Israel up until Dec. 23. CATHAY PACIFIC Hong Kong-based Cathay Pacific has actually cancelled flights to Tel . Aviv till Oct. 25, 2025. CORENDON AIRLINES The Turkish airline company cancelled flights to and from Tel Aviv. till January. DELTA AIR LINES The U.S. provider has paused flights between New york city and Tel . Aviv through March 2025. EASYJET EasyJet will not rush to resume flights to Tel Aviv. after a ceasefire in between Israel and Hezbollah entered into effect,. its inbound CEO said on Nov. 27. The UK budget plan airline company had. formerly suspended flights to and from Tel Aviv up until March. EGYPTAIR The Egyptian provider in September stated it had suspended. flights to Beirut until the circumstance stabilises. EMIRATES UAE's state-owned airline has cancelled flights to Beirut. till Dec. 31 and to Baghdad until Dec. 14. ETHIOPIAN AIRLINES The Ethiopian provider has suspended flights to Beirut until. even more notice, it stated in a Facebook post on Oct. 4. FLYDUBAI Flights to Beirut are presently suspended, a flydubai. spokesperson said on Nov. 28. IAG IAG-owned British Airways has actually suspended flights to Tel Aviv. until the end of March 2025. IAG's Spanish affordable airline Vueling has actually cancelled. operations to Tel Aviv and to Amman until at least early 2025. IRAN AIR The Iranian airline has actually cancelled Beirut flights up until. even more see. IRAQI AIRWAYS The Iraqi nationwide carrier has actually suspended flights to Beirut. up until more notification. ITA AIRWAYS The Italian provider has actually extended the suspension of Tel Aviv. flights through Jan. 31. LOT The Polish provider has actually cancelled flights to Tel Aviv up until. Dec. 20. Its very first scheduled flight to Beirut is prepared for. April 1. LUFTHANSA GROUP The German airline group has actually extended the suspension of its. flights to Tel Aviv until Jan. 31. Flights for Tehran are cancelled till Jan. 31 and for. Beirut till Feb. 28. SunExpress, a joint endeavor in between Lufthansa and Turkish. Airline companies, has actually suspended flights to Beirut through. Dec. 17. PEGASUS The Turkish airline has actually cancelled flights to Beirut till. Jan. 1. QATAR AIRWAYS The Qatari airline company resumed flights to and from Lebanon from. Dec. 9. RYANAIR Europe's biggest budget plan airline does not plan on resuming. operations to Israel until March 31 at the earliest, while a. choice to resume operations to and from Jordan from December. is under discussion, a Ryanair spokesperson said on Nov. 27. SUNDAIR The German airline company has cancelled flights between Beirut and. Bremen until March 26 and in between Beirut and Muenster/Osnabrueck. till March 29. TAROM Romania's flag provider has suspended Beirut flights until. Dec. 20. UNITED AIRLINES The Chicago-based airline company has actually suspended flights to Tel Aviv. for the foreseeable future. VIRGIN ATLANTIC The UK carrier has actually suspended Tel Aviv flights up until. end-March. WIZZ AIR The Hungary-based airline has suspended Tel Aviv flights. through Jan. 14.
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Ukraine's State Railway raises freight rates by 37%
Ukrzaliznytsia (Ukraine's national railroad) announced on Tuesday that it will raise freight rates by 37% in order to cover significant increases in fuel, electricity, and equipment repair costs as it attempts to deal with the effects from Russian attacks. Rail transports half of all Ukrainian products and is vital for the export of grain and metalurgical products. Steel and farmers had opposed the price increases. The company stated that "Indexation" would allow for the repair of infrastructure and stock in danger of collapse at the lowest possible level. It did not specify when the new tariffs were to be implemented. Earlier this summer, the agrarian group UCAB warned that an increase in freight rates would harm struggling farmers as well as damage production and export volume. The UGA, the traders' union, said that it would only worsen the situation of farmers who are already struggling with falling food prices globally. The key export and grain harvest of Ukraine is likely to decline in 2024 due to the reduced sowing area caused by Russia's continued assault on Ukraine, and bad weather. (Reporting and editing by Kevin Liffey; Pavel Polityuk)
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Share of Russian, Indian aluminium edges up in LME stocks in November
The share of available aluminium stocks of Russian origin in storage facilities authorized by the London Metal Exchange (LME) increased to 67% in November from 65% in October, while the share of Indian origin edged up to 32% from 30%, LME information showed on Tuesday. On-warrant aluminium stocks in LME-registered warehouses of all origins fell by 6% in November to 380,400 metric tons. The stocks jumped in May following a decision by the LME to restriction all Russian aluminium, copper and nickel produced from April 13 from its system to comply with U.S. and British sanctions imposed over Russia's 2022 invasion of Ukraine. Russian aluminium stocks on LME warrant - a title file providing ownership - ended November at 254,500 metric lots, the information showed, below 263,525 at the end of October. The quantity of Indian stocks was stable at 120,000 heaps. For copper, the largest share of stocks in November was from China at 54%, while Russian material represented 19% of the total. For nickel, Chinese metal led with a 42% share in November, with Russian and Indonesian product accounting for 19% and 6%,. respectively.
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Alaska Air raises Q4 earnings forecast on strong travel demand, enhanced costs
Alaska Air raised its fourthquarter revenue projection on Tuesday, owing to robust travel demand and enhanced rates, sending the provider's shares up 4.3% in premarket trading. Excess supply of seats at the start of this year's. summertime travel season required airline companies to use discount rates to fill. their aircrafts, harming their margins. Ever since, U.S. airline companies. have actually reduced their capability and managed to strengthen prices. power. The Seattle, Washington-based carrier expects its profit per. share for the 4th quarter to be in between 40 cents and 50. cents, compared with the series of 20 cents to 40 cents projection. previously. Alaska Air, which is hosting its 2024 investor day on. Tuesday, likewise anticipated its 2025 profit above experts' quote. Besides, the business expects to benefit from its recently. completed acquisition of rival Hawaiian Airline companies. The combination with Hawaiian gives us the scale to be. more powerful than either of us might have been on our own-- giving. visitors what they want, where and when they want it, Alaska. Chief Financial Officer Shane Tackett said. To expand its international presence, Alaska revealed brand-new non-stop. services to Tokyo, Japan and Seoul, South Korea utilizing Hawaiian's. widebody aircraft. Alaska Air anticipates its revenue for 2025 to be a minimum of $5.75. per share, compared with experts' average expectation of $5.50. per share, according to data compiled by LSEG.
VW employees at Osnabrueck plant hold fresh warning strike
Workers at Volkswagen's. Osnabrueck plant, considered a possible target for closure under. the German car manufacturer's restructuring plans, are holding fresh. alerting strikes on Wednesday as part of regional demonstrations over. pay, the IG Metall union said.
It is the second time in as many weeks that workers at the. site are on strike, reflecting growing stress over Volkswagen's. efforts to cut costs and possibly close factories. in Germany for the very first time.
While strikes at Volkswagen's other western German factories. are only possible from December, labour contracts at Osnabrueck. are governed differently, making such action possible now.
At around 0930 CET (0830 GMT), employees will start the. journey from the plant to the local head office of IG Metall,. where they will sign up with personnel from other local businesses by 1030. CET, the union said.
IG Metall is demanding 7% pay increases compared to an offer. from companies' associations of a 3.6% increase over 27 months. Business say the demands are unrealistic.
Volkswagen's plant in Osnabrueck, which uses around 2,300. personnel, produces Porsche's Cayman and Boxster. designs as well as Volkswagen's T-Roc Cabriolet.
However Porsche has actually revealed plans to construct the next. generations of the Cayman and Boxster at its. Stuttgart-Zuffenhausen plant, and Volkswagen will stop. production of the T-Roc Cabriolet next year, creating a. possible production problem for Osnabrueck.
Last week, Volkswagen works council head Daniela Cavallo. said that Porsche management had notified the Osnabrueck plant. that it would end their existing service relationship.
(source: Reuters)