Latest News
-
Thirteen dead when a naval vessel strikes a passenger boat near Mumbai
Officials said that at least 13 people were killed when an Indian navy boat collided on Wednesday with a passenger ship carrying more than 100 passengers, which capsized. The accident occurred off the coast of Mumbai's financial capital. The navy reported that 99 people had been rescued, and efforts are ongoing to rescue others. A malfunctioning engine caused an Indian Navy vessel to lose control in Mumbai Harbour while conducting engine tests. The boat then collided into a passenger ship, which capsized as a result. Local TV stations showed that a boat with at least five passengers hit the passenger car, causing an accident. The speedboat crashed into the boat, and water began to enter our boat. It overturned. A passenger aboard the vessel said that "the driver asked us to put on life jackets". The passenger who refused to identify himself said, "I swam 15 minutes before another boat rescued me." The boat accident in Mumbai is tragic. "Condorations to the bereaved family," India's PM Narendra Modi wrote in a late Wednesday post on X. Modi announced that he would also pay 200,000 rupees (2,356.63) as an ex-gratia to the next of kin for each of the deceased victims of the boating accident. The injured will receive 50,000 rupees. BMC reported that the privately owned passenger boat called Neelkamal was headed towards the Elephanta Caves, an important tourist destination just off the coast of Mumbai when it capsized. The caves are a UNESCO world heritage site, and were built in the 5th-6th century A.D. Regular trips are made by boats from the southernmost point of Mumbai, the Gateway of India to ferry tourists an hour away to the site.
-
Drone talk has individuals pointing lasers at aircraft over New Jersey, US states
Reported sightings of drones over New Jersey have actually prompted a. spike in the number of people in the state pointing lasers at. airplanes flying overhead, which is prohibited and can be. unsafe, the U.S. Federal Air travel Administration said. The FAA said reports are up 269% to 59 in the first half of. December, compared to 8 in the very same period last year. Intending a laser at an aircraft is a major security concern and a. infraction of federal law. U.S. agencies have actually repeatedly said the. spike in drone sightings does not position nationwide security risks. and seem primarily aircraft, stars or hobbyist drones. The FAA stated it has actually received lots of brand-new laser reports. from pilots in New Jersey, New York and Pennsylvania airspace. The FBI in New Jersey independently warned people Wednesday not. to shoot at believed drones or point lasers at them, cautioning. there might be harmful and perhaps fatal consequences if. manned aircraft are targeted incorrectly as drones. Federal firms have actually stepped up tracking of drones in New. Jersey and in neighboring states after a craze of public issue. Less than 100 of the more than 5,000 reported sightings. in New Jersey and other northeastern U.S. states warranted. investigation, officials at the Defense Department, Homeland. Security Department, FBI and FAA stated today. The Biden administration offered members of the U.S. House. of Representatives Intelligence Committee a classified briefing. on the problem on Tuesday. Officials have actually consistently said the majority of the big. fixed-wing sightings involved manned aircraft, and came after. U.S. President-elect Donald Trump on Monday required more. federal discuss the reported sightings. There are about 1 million signed up drones flying about. 42 million flights each year. There are countless industrial,. enthusiast and law enforcement drones lawfully in the sky on any. provided day. With the technology landscape developing, we expect. that number to increase gradually, agencies said this week.
-
US Senate turns down quote to fast-track bill to deal with threats from drones
The U.S. Senate declined a quote on Wednesday to fasttrack legislation to expand U.S. federal government authority to discover and destroy drones that might present security hazards over arenas and other areas. Congress has debated for many years expanding authority in the middle of growing security concerns. Senator Gary Peters looked for consentaneous consent to approve the costs after reports of drones sighted over New Jersey raised widespread concerns. The FBI and other companies have actually stated many of the sightings are of airplanes or airplanes and do not present safety issues. Senate Democratic leader Chuck Schumer said the expense explicitly licenses state and regional authorities to conduct drone detection and helps them better coordinate with federal police to keep neighborhoods safe. Republican Senator Rand Paul blocked the request stating the expense would give the government sweeping authority to perform broad security and Congress need to not rush to enact laws. It has to do with unattended federal government overreach. It has to do with taking advantage of worry and media-driven hysteria that might violate the civil liberties of Americans. The White House and sports leagues because 2022 have actually been pushing for broadened authority to find threatening drones, with the NFL, Major League Baseball and other leagues cautioning formerly that without broadened authority, airports and sporting occasions are at significant threat from destructive and unauthorized (drone) operation. The NFL stated last week rogue drone flights into the limited air space above stadiums during NFL games rose to 2,845 in 2023 from 2,537 in 2022 and NFL Commissioner Roger Goodell met congressional leaders. Drone flights are forbidden approximately 3,000 feet (914 m). before major U.S. sporting occasions in a three-mile radius of. arenas. Congress in 2018 expanded the power of the Justice. Department and Homeland Security to disable or damage. threatening drones, however authorities state they need brand-new authority. Legislation would broaden federal coverage for airports. and critical facilities like power plants, oil refineries or. chemical centers and high-risk detainee transportations. It would. also allow use of expanded counter-drone authorities by state. and local police. Owners or operators of airports or important. facilities might also utilize federally vetted drone-detection. capabilities.
-
Martin Midstream states Glass Lewis backs buyout deal with Martin Resource
Martin Midstream Partners said on Wednesday that proxy advisory firm Glass Lewis has advised the energy infrastructure firm's unitholders to vote for the business's proposed buyout deal with Martin Resource Management Corp. . The statement of the Glass Lewis report comes days after Martin Midstream had actually stated that another proxy advisory company Institutional Investor Provider (ISS) had also suggested a. favorable vote for the deal. However, 2 hedge funds Nut Tree Capital Management and. Caspian Capital, holding 13.6% of Martin Midstream, are. promoting a competing bid and urging investors to vote against. the deal. The two hedge funds have argued that a $4.02 per typical unit. deal undervalues the business. The unitholder satisfy is scheduled for Dec. 30. Martin Midstream consented to a $157 million deal with Martin. Resource in October. Martin Midstream, which focuses on saving and carrying. fuels, said Glass Lewis has reported the merger represents an. attractive exit assessment and premium for the company's. unaffiliated unitholders. Nut Tree, Caspian, Glass Lewis and ISS did not right away. respond to ask for comment.
-
US problems fresh sanctions associated with Nord Stream 2 pipeline
The United States released fresh sanctions on Wednesday on several Russiabased entities over their involvement in the Nord Stream 2 gas pipeline, the State Department said, consisting of brand-new measures versus the operator of the project. The U.S. State Department said in a declaration it was re-imposing sanctions on a variety of entities associated with the building of the pipeline that were already designated, as well as several brand-new owners of vessels already under sanctions. Among those targeted on Wednesday were Russia-based marine services and water transport entities, the state-owned maritime rescue service and over a lots vessels, the State Department said. Likewise targeted was Nord Stream 2 AG, the operator of the job, and a Russia-based insurer that offered insurance to business involved in the project, the State Department said. Nord Stream 2, built across the Baltic Sea by Russia's. state-controlled Gazprom to pump natural gas to. Germany, was harmed on Sept. 26, 2022 in the wake of Russia's. intrusion of Ukraine. Nobody has taken duty. Some Western authorities have recommended Moscow exploded its own. pipelines, an interpretation dismissed as idiotic by Russian. President Vladimir Putin. Russia has actually blamed the United States, Britain and Ukraine for. the blasts, which largely cut Russian gas off from the financially rewarding. European market. Those nations have denied participation.
-
German Budget Committee approves ThyssenKrupp submarine deal worth 4.7 billion euros
The German budget committee approved the purchase of four subs manufactured by ThyssenKrupp in a deal valued at 4.7 billion euro ($4.92 billion), according to the defence ministry on Wednesday. Boris Pistorius, Minister of Defence, said that the purchase was one of 38 "25-million-euro proposals" for projects in defence and equipment approved by the committee Wednesday. He added that 97 of these proposals have been approved this year. The budget committee of the parliament must approve any military purchase exceeding 25 million Euros. Pistorius stated that "with these projects, we invest in all branches of military." Olaf Scholz, the German Chancellor, surprised his allies when he announced a "Zeitenwende", a historical turning point in German. He also announced a 100 billion euro special fund for the military to get it back on track. The top-ups will enable Germany to reach NATO's goal of member states spending 2% or more of their national production on defence in the next three year period, for the first time since the end the Cold War. There is some uncertainty as to how the fund will continue to meet its spending target after it has run out in 2028.
-
Algeria thought to have bought durum wheat in tender, traders say
Algeria's state grains company OAIC is thought to have actually acquired durum wheat in an international tender on Wednesday, European traders stated. The volume bought was unclear. Preliminary estimates of the purchase rates were around $340 a. load expense and freight (c&& f) consisted of for larger Panamax shipments. and around $352 a load c&& f for smaller sized Handymax shipments. Part of both purchases was thought to include. Canadian-origin of type Canada western amber durum (CWAD),. traders said. Some was likewise thought to be sourced from the. United States and Australia. The tender had actually sought a small 50,000 loads for delivery in. 4 durations in 2025: March 1-15. March 16-31, April 1-15 and. April 16-30. Algeria does not divulge the results of its tenders and. outcomes reported are based upon trader assessments. More comprehensive. price quotes of costs and volume are possible later. In its last durum tender reported on Nov. 21, Algeria made. purchases at around $348 a heap c&& f for Panamax shipments and. around $360 a heap c&& f for smaller deliveries.
-
Brooge Energy financiers submit scams complaint against Ernst & Young
Some shareholders in Brooge Energy have actually submitted a scams complaint in the United States versus Ernst & & Young, declaring the auditor stopped working to identify fabricated earnings in 2 years of the oil storage firm's. annual reports. The complainants are Stephen Cannon, Bryant Edwards and Neil. Richardson, who were financiers in a so-called special purpose. acquisition business (SPAC) that purchased Brooge in 2019, according. to the filing with the United States District Court in the. Southern District of New York. The plaintiffs allege Brooge made earnings amounting. to tens of countless dollars which Ernst & & Young's audit of. the company was deceitful. Ernst & & Young stated it is not able to talk about legal. procedures. Brooge likewise did not respond to an e-mail seeking. remark. Brooge consented to a settlement with the U.S. Securities and. Exchange Commission in 2023 over fraud charges, which included. paying a $5 million charge. The fundamental monetary picture provided by Brooge to. complainants was a scams: in fact, Brooge fabricated between 30%. and 80% of its 2018, 2019 and 2020 earnings, the filing said. Brooge could not have effectuated this plan without. vital assistance from Ernst & & Young. Brooge, an oil-storage renting company based in the United. Arab Emirates' Fujairah, was established in 2013 and counts Mohammed. bin Khalifa, the oldest kid of the previous president of the. UAE, amongst its shareholders. Brooge's shares closed at $1.585 on Tuesday, below a. peak of $12.99 in March 2020. The board of Dubai-listed shipping company Gulf Navigation. in September authorized an acquisition of companies and. assets owned by Brooge, consisting of a capital increase, according. to UAE state news firm WAM. One of Brooge's line of work was with Coral Energy Pte. Ltd., according to the filing. Coral was later on rebranded as. 2Rivers and was sanctioned by Britain on Tuesday for supposedly. playing a key role in the Russian oil trade.
Intrum stops working to reach settlement with lenders opposing Chapter 11 plan
Sweden's Intrum , Europe's greatest financial obligation collector, stated on Tuesday it had stopped working to reach a settlement with lenders who challenged the company's restructuring strategy, after it said previously in the day it was looking for an agreement.
Intrum last month filed for Chapter 11 personal bankruptcy in the United States in a bid to restructure its debt, which reached 49.4 billion Swedish crowns ($ 4.53 billion) at the end of September.
Some financial institutions, jointly called the 2025 Advertisement Hoc Group, have actually challenged the plan for a so-called pre-packaged Chapter 11 restructuring, jeopardising the scheme.
But Intrum stated in a declaration it would proceed with seeking confirmation of its pre-packaged Chapter 11 strategy, after it failed to reach a settlement with the 2025 Advertisement Hoc Group.
A Chapter 11 hearing will continue as planned on Tuesday in front of the United States Bankruptcy Court for the Southern District of Texas, Intrum included.
(source: Reuters)