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Israel's parliamentary panel wants compensation from the state for Israelis who were stranded in Iran during the war
The head of a parliamentary committee in Israel told the Finance Ministry Thursday that if the Finance Ministry did not come up with an adequate compensation plan for Israelis who were stranded overseas during the war with Iran last month, the panel will impose it. Israel's airspace, which was mostly closed because of daily rocket attacks from Iran, prevented tens of thousands of Israelis from returning to their country during the 12-day conflict. Flights to Tel Aviv were halted by both Israeli and foreign carriers. Many travellers were forced to pay heavy fees despite receiving a refund for their cancelled flights, or a place on an Israeli airline's so-called rescue plane. The Economic Affairs Committee is debating this issue since a week, and Israel's carriers have reported that they are receiving an increasing number of compensation claims. A representative of the Finance Ministry told the committee the ministry was analyzing data in order to develop a compensation structure. David Bitan is the head of the Economic Committee and a Likud Party member. He said that if the Finance Ministry does not complete its review by the end of this month, the committee would issue a ruling which, in the case of third party claims, could be used as a basis to hold the government liable. "I'm able to make this decision, but I need a compromise." Uri Sirkis of Israeli carrier Israir expressed concern that airlines will not be compensated under the final framework. "We have suffered millions of damages." It wasn't an accident or a commercial mistake, and we don't have to suffer alone," he said to the panel. He was referring to Israel's war with Iran. Oz Berlowitz is the CEO of Arkia Airlines a rival airline to Israir. He also accuses the state of abdicating its responsibility and leaving airlines without support. He said that hundreds of passenger claims were being received and would have to be passed on to the government as a 'third party' if they are to receive compensation. The claims totaled millions of dollars. (Reporting and editing by Frances Kerry.)
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Uber invests $300 million in Lucid, an EV manufacturer as part of the robotaxi deal
Uber is investing $300 million into Lucid, a maker of electric vehicles. The companies plan to launch a robotaxi service in one U.S. major city by the end of next year. Lucid shares surged 56% in the trading session before the bell, to $3.58. The company had also announced that it proposed a reverse stock split one for ten of its common class A stock. Uber said that over the next six years, starting in 2026 it will purchase and deploy more than 20,000 Lucid Gravity vehicles, which will be equipped by startup Nuro with autonomous vehicle technology (AV). The agreement shows the renewed push and plans for funding for self-driving taxis, years after an initial wave of investment in autonomous driving produced only a small number of vehicles. Tesla recently began a robotaxi test in Austin, and Alphabet’s driverless taxi unit Waymo has been accelerating its expansion. In their joint statement, Uber said that as part of the announced deal it will invest hundreds millions of dollars into Lucid and Nuro which provides self-driving technologies to automakers. Lucid will receive $300 million of that amount, according to a separate filing made by the EV manufacturer to the U.S. Securities and Exchange Commission. Uber's recent move shows its renewed interest in the robotaxi market after 2020. Uber has since partnered with several technology companies, including Waymo, Aurora, and others. Uber and Lucid have signed a robotaxi deal in April. Volkswagen will provide its ID.Buzz vans to Los Angeles for upcoming commercial services. Commercializing AV technology has proven to be more difficult than expected, with tight regulations, high costs and federal investigations forcing some, such as General Motors Cruise, shut down. Amazon.com Zoox is still in the running. It's testing a robotaxi that doesn't require manual control and has plans to launch a commercial service in Las Vegas in this year. Tesla began a limited trial in Austin, Texas last month, after years of broken promises. The company used a dozen Model Y SUVs. Elon Musk, the CEO of Tesla, has stated that it will rapidly expand this service to other U.S. Cities in 2018. Waymo is a company that has grown slowly over the years. It operates in many U.S. cities, with around 1,500 vehicles. This month, it reached 100 million miles in autonomous driving. The companies have confirmed that a prototype of the Lucid-Nuro roboticaxi has already been operating autonomously in a closed loop at Nuro's Las Vegas testing facility. Marc Winterhoff, interim CEO of Lucid, said: "We're expanding beyond our traditional EV leadership and working with partnerships to go into areas we haven't really focused on in the past." Nuro is a company founded by former Waymo employees and has grown from making vehicles for last-mile deliveries to offering its self-driving technologies in commercial and passenger vehicles. Dave Ferguson, co-founder of Nuro and its president, stated that "we have other very active discussions going on the personal vehicles side... where we will integrate Nuro Driver into vehicles which are sold to consumers." He said that Nuro would still have to apply for operating licenses at the state level, even though they already hold some licenses from previous operations.
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Uber invests $300 million in Lucid, an EV manufacturer as part of the robotaxi deal
Uber is investing $300 million into Lucid, a maker of electric vehicles. The companies plan to launch a robotaxi service in one U.S. major city by the end of next year. Uber said that over the next six years, starting in 2026 it will purchase and deploy more than 20,000 Lucid Gravity vehicles, which will be equipped by startup Nuro with autonomous vehicle technology (AV). The agreement shows the renewed push and plans for funding for self-driving taxis, years after an initial wave of investment in autonomous driving produced only a small number of vehicles. Tesla recently began a robotaxi test in Austin, and Alphabet’s driverless taxi unit Waymo has been accelerating its expansion. In their joint statement, Uber said that as part of the announced deal it will invest hundreds millions of dollars into Lucid and Nuro which provides self-driving technologies to automakers. Lucid will receive $300 million of that amount, according to a separate filing made by the EV manufacturer to the U.S. Securities and Exchange Commission. Uber's recent move shows its renewed interest in the robotaxi market after 2020. Uber has since partnered with several technology companies, including Waymo, Aurora, and others. Uber and Lucid have signed a robotaxi deal in April. Volkswagen will provide its ID.Buzz vans to Los Angeles for upcoming commercial services. Commercializing AV technology has proven to be more difficult than expected, with tight regulations, high costs and federal investigations forcing some, such as General Motors Cruise, shut down. Amazon.com Zoox is still in the running. It's testing a robotaxi that doesn't require manual control and has plans to launch a commercial service in Las Vegas in this year. Tesla began a limited trial in Austin, Texas last month, after years of broken promises. The company used a dozen Model Y SUVs. Elon Musk, the CEO of Tesla, has stated that it will rapidly expand this service to other U.S. Cities in 2018. Waymo is a company that has grown slowly over the years. It operates in several U.S. Cities with around 1,500 vehicles. This month, it reached 100 million miles in autonomous driving. The companies have confirmed that a prototype of the Lucid-Nuro roboticaxi has already been operating autonomously in a closed loop at Nuro's Las Vegas testing facility. Marc Winterhoff, interim CEO of Lucid, said: "We're expanding beyond our traditional EV leadership and working with partnerships to go into areas we haven't really focused on in the past." Nuro is a company founded by former Waymo employees and has grown from making vehicles for last-mile deliveries to offering its self-driving technologies in commercial and passenger vehicles. Dave Ferguson, co-founder of Nuro and its president, stated that "we have other very active discussions going on the personal vehicles side... where we will integrate Nuro Driver into vehicles which are sold to consumers." He said that Nuro would still have to apply for operating licenses at the state level, even though they already hold some licenses relating to their former delivery operations.
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Freeport LNG Export Plant in Texas is on track to reach full power, LSEG Data shows
Freeport LNG, a U.S. liquefied gas company, had planned to receive more natural gas at its Texas export plant on Thursday. This was two days after the closure of one of three liquefaction train trains. Freeport informed Texas environmental regulators that on Wednesday, the plant experienced an emissions event following a liquefaction-train 2 shutdown Tuesday night because of a problem with a system compressor. Freeport LNG officials were not available to comment immediately on Thursday. Freeport LNG is one of the most closely monitored LNG export facilities in the world because its start-up and shutdown often causes price swings on global gas markets. Gas prices in the U.S. typically drop when flows to Freeport decrease due to a lower demand for fuel from the export facility. Prices in Europe are usually higher due to the drop in LNG supply available from the plant to global markets. The prices in Europe and the U.S. did not change much either on Wednesday or Thursday. LSEG reported that the amount of gas flowing into Freeport is on track to hit 1.9 billion cubic foot per day (bcfd), up from 1.6 bcfd Tuesday and 1.7 bcfd Wednesday. This compares to an average of 1.9 billion cubic feet per day over the previous seven days. Three liquefaction plants at Freeport can convert about 2.1 billion cubic feet per day of gas to LNG. A billion cubic feet of natural gas can supply 5 million U.S. households for one day. (Reporting and editing by Susan Fenton; Scott DiSavino)
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China threatens to stop Panama ports deal unless it gets a stake in its shipping giant, WSJ reports
The Wall Street Journal, citing anonymous sources, reported that China threatened to block the sale to BlackRock and Mediterranean Shipping Company of more than forty ports owned by Hong Kong's CK Hutchison. Could not verify immediately the WSJ article. CK Hutchison and MSC did not respond immediately to requests for a statement, and the Chinese government was not reachable outside of office hours. The newspaper reported that Chinese officials told BlackRock MSC and Hutchison, if Cosco was not included in the deal, Beijing will take action to stop Hutchison from selling the ports. CK Hutchison, owned by Li Ka-shing, announced in March that it would be selling its 80% stake in the port business. This includes 43 ports across 23 countries. The enterprise value, including debt, is $22.8 billion. After much scrutiny in China and criticism, Hong Kong conglomerate CK Hutchison confirmed that Italian billionaire Gianluigi Aponte’s family-run MSC – one of the top container shipping companies in the world – was the principal investor in a bid to purchase the ports. WSJ reported that BlackRock, MSC, and Hutchison are all open to Cosco acquiring a stake. The report said that the parties were unlikely to reach an agreement before the previously agreed deadline of July 27 for exclusive discussions between BlackRock MSC and Hutchison. After the announcement, Donald Trump called the proposed deal a "reclaiming of the waterway". Reporting by Angela Christy, Mrinmay dey in Bengaluru and Shinjini Ganuli.
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United Airlines shares drop as Newark issues weigh on the profit forecast
United Airlines shares dropped 3% on Thursday in premarket trade after the U.S. airline reported a drop in third-quarter earnings due to operational issues at Newark Airport. Newark Airport, where the Chicago-based airline operates nearly 70% of its flights, has been affected by equipment failures, ongoing construction on the runway and persistent staff shortages in air traffic control. United Airlines expects a 0.9 percent drop in revenue in the current quarter. This follows a 1.2 percent fall in the previous quarter due to operational issues at the airport. The airport is one of the busiest hubs for the U.S. However, the carrier projected that overall travel demand would rise by six percentage points during the third quarter. Business travel bookings also saw a double-digit increase. Budget cuts and trade tensions in the U.S. under President Donald Trump put the aviation industry on high alert. Most carriers retracted their profit forecasts for 2025 and prepared themselves for a wider travel slowdown. The negative reaction of the share prices in pre-market trading suggests that investors are waiting for more proof that the situation is improving before calling the bottom on the sector, said Dan Coatsworth. Airlines have not seen a significant rebound in their pricing power despite signs of stabilization. United's average revenue for each passenger, which is a proxy of pricing power, decreased across all regions during the second quarter. The biggest drop was in the U.S. Domestic Market. The company anticipates a profit adjusted in the range $2.25 per share to $2.75 for the quarter ending in September. According to LSEG, the midpoint of forecast is $2.50 a share compared to analysts' average estimates of $2.60.
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GE Aerospace raises its profit forecast for 2025 on the back of rising demand to fix older jets
GE Aerospace increased its 2025 profit projection on Thursday, boosted by strong demand from airlines for aftermarket maintenance as they hold onto older jets due to persistent delays in aircraft deliveries. In premarket trading, shares of the jet engine maker rose by 4%. Boeing and Airbus have been experiencing production delays, which has caused airlines to delay aircraft deliveries. This is forcing them to use older jets to meet the increasing travel demand. This trend has benefited GE Aerospace and other companies that offer engines with lower upfront costs. They generate their profits through long-term contracts, which are high margin, for spare parts and service. GE's adjusted annual profit per share is expected to range from $5.60-$5.80. This compares to its previous expectations of $5.10-$5.45. Parts and services generate more than 70% revenue for its commercial engine division. The second-quarter profit of its Commercial Engines and Services segment rose 33% to $ 2,23 billion while revenue grew 30% to $7,99 billion. CFM International is GE's long-standing joint venture with France’s Safran SA. GE's quarterly profit was $2.39billion, or 1.87 cents per share. This compares to $1.45billion, or $0.20 per share a year earlier. However, supply chain constraints continue to hinder production, leading to a decrease in engine deliveries in the last year. Airbus warned airlines in May that delivery delays could last up to three year, citing bottlenecks with engines and structural parts. The aerospace supply chain is under pressure as a result of the massive tariffs that President Donald Trump has imposed. Suppliers are facing uncertainty about who will be responsible for the costs. GE's first-quarter adjusted revenue, ending June 30, rose by 23% to $10.15 Billion. The company also increased its forecast of operating profit for 2028 from around $10 billion to approximately $11.5 billion. Reporting by Shivansh Tiwary, Bengaluru. Editing by Arun K. Koyyur.
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DP World reduces the time it takes to ship goods from Romania to Turkey as it boosts its Black Sea assets
A senior executive at DP World, a Dubai-owned port and logistics company, said that the shipping time between Romania and Turkey had been cut in half. The company is expanding its Black Sea operations along the eastern border of the European Union. DP World has more than doubled the capacity of its container shipping at Romania's biggest Black Sea port, Constanta, last year. This was achieved by adding a Roll-on-Roll-off (RoRo) Terminal and a logistic hub in western Romania. This year, a new integrated European logistic service was launched in Romania, offering services by road, rail, sea and air, initially to clients from the neighbouring countries of Moldova, Serbia, and Turkey. Kris Adams, DP World Eastern Europe vice president, said: "We've made great strides to optimise maritime trade between Turkey & Constanta by improving the transit times by sea by 50 percent." "Istanbul-to-Bucharest shipments have been cut to under 30 hours, creating a viable alternative to road transport." He said that a new scanner at DP World’s Constanta Ro-Ro Terminal has reduced truck inspection time from 5-7 to 2 minutes. The upgrades totaled 130 million euros. Adams stated that more upgrades would be made as growth is possible in the automotive, ecommerce, and renewable energy cargo sectors. "We are looking to invest over 200 million Euros, more will be invested in staff and in a digital platform,...we have ambitions to operate contract logistic, which means we will eventually be operating warehouses, but it's too early to comment." In the wake of Russia’s invasion in 2022, investments in infrastructure and exports through Constanta of Ukrainian grain helped boost operations in the port. It is a gateway into Central Asia and offers access to the Danube River and Western Europe. As companies move operations to Eastern Europe’s low-cost manufacturing centers to shorten the supply chain, its importance is also growing. Adams stated that the company would continue to invest despite the pending tax increases by Romania's broad-based coalition government. However, he did note the hikes could have a negative impact on trade. (Reporting and editing by Kirsten Doovan; Luiza Ilie is the reporter)
Maguire: Gas consumption in Europe's largest gas trading hub reaches new lows
The gas-fired power production in Europe's biggest gas trading hub has fallen to a record low, dealing a new blow to the natural gas bulls that see Europe as an important growth market for LNG and pipelined supplies.
The Netherlands has a large pipeline network and is centrally located, which gives it a unique insight into the gas supply and demand trend.
According to the energy think tank Ember, The Netherlands has been a gas-consuming country for many years. From 2000 to 2020, natural gas accounted for more than half of its electricity supply.
Since the Russian invasion of Ukraine 2022, Dutch utilities aggressively reduced natural gas consumption. In the first half 2025, gas power plants only supplied a third the country's electrical energy.
The rapid and sustained reductions in gas consumption by a once integral gas consumer is alarming for major gas producers and exporters like the United States and Russia, and could herald more cuts for Europe.
Small scale, big impact
The Netherlands has a considerable impact on regional and global affairs despite its small population and size.
The massive port facilities in Rotterdam, the Netherlands, are the primary entry and exit points of crude oil, refined product, crops, and many consumer products into and out Europe.
The Netherlands also has a strong high-tech sector and several multinational corporations that rely on its infrastructure and global connections.
The strategic importance of the country is reflected by the Dutch government's position in the European Parliament. It is a highly influential group that plays a major role in shaping regional trade, agricultural and financial policies.
CLEAN DRIVE
Dutch utilities are also leaders in the adoption of clean energy, despite being home to Shell's former headquarters.
Ember data show that between 2022 and 2024 the Netherlands saw a 27% increase in electricity produced from clean energy sources compared to an 16% increase in clean power production in the European Union during the same time period.
This growth was largely due to a 57% increase in wind power, and a 34% increase in solar power.
The rapid increase in renewable sources of energy has changed the mix of electricity generated in the country.
Up until 2023, most of the electricity in the country came from fossil fuels. However, since then, clean energy has become the main fuel for electricity production.
In 2024, despite the switchovers, electricity supply reached record levels to meet the demand for electricity in the country.
The wholesale power prices of the Netherlands are also competitive in Europe, as the Dutch system has reduced gas consumption and increased clean energy output. They have been slightly lower than Germany's average so far in 2025.
According to LSEG, the average Dutch wholesale spot electricity price in 2025 will be around 90 euros per Megawatt Hour.
This price is about a third higher than in France with its nuclear power, but lower than in other European countries such as Italy and much of Eastern Europe.
Other nations in the region will be influenced by the fact that Dutch electricity costs are in line with regional averages despite the reduction in fossil fuel usage in electricity production.
It is possible to see the successful transition of fossil fuels from being the main pillar in the country's electric system until 2022, to a smaller role in 2025 as a model for other utility systems also eager to reduce fossil fuel usage.
Dutch companies with expertise in solar, offshore wind and batteries work with regional utilities in order to boost clean power production in other countries.
Dutch companies are pioneering the use of green energy in order to produce green hydrogen, which is hoped will decarbonise regional power needs and reduce regional dependence on fossil fuels.
The Netherlands have generated a lot of momentum with their clean energy push. This is likely to spread well beyond the national borders, and could lead to further reductions in gas consumption across Europe in the coming years.
These are the opinions of a columnist who writes for.
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(source: Reuters)