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Dutch regulator fines taxi app Yango £117 million for data transfers to Russia
The Dutch data protection agency announced on Friday that it had?imposed a fine of 100 million euros ($117 million)?on the mobile taxi app Yango because they transferred personal?data?of their customers to Russia. AP (as 'the'regulator was known) imposed the fine to MLU, a Dutch company that is behind units of Yango located in Norway and Finland. It said this in a press release. The taxi app is primarily used in Africa, Latin America and the Middle East, as well as in non-EU European nations. However, it was also present in Finland and Norway, which are not EU countries but adhere to the same data protection rules. The company has said that it will appeal the fine. The company said it would appeal the fine. The statement stated that an investigation was opened by the 'Dutch agency, together with their Finnish and Norwegian counterparts in late 2023. They found the taxi app had collected and stored significant amounts of personal data, including scans of drivers licenses, addresses, and account numbers on servers in Russia. The agency stated that companies operating in Europe cannot transfer personal data to places where data "is not equally protected". In Russia, data protection is not as good as in Europe. Aleid Wolfsen, the Dutch regulator chief, said that this could?allow Russian government access to these data.
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Descartes reports that US container imports dropped 5.5% in April due to trade and geopolitical risk.
U.S. Container Imports Dropped 5.5% In April As?Importers Deal With Trade Policy Uncertainty And Geopolitical Risks, Supply Chain Technology Provider?Descartes Systems Group Said?On Friday. U.S. President Donald Trump’s changing trade policies have hit containerized?import _volumes. Iran has closed the Strait of Hormuz, a vital shipping route for energy supplies after U.S. and Israeli?strikes against the country. Import trends can be viewed as a measure of the U.S. economic health. They rise when the economy is strong, and fall when it is weak. Descartes data showed that U.S. ports handled 2,277.965 twenty-foot equivalent units in April, which was a 3.2% decrease from March's levels. It was the first time since 2022 that April's volumes had dropped sequentially. Last month, container import volumes were 19% higher than the pre-pandemic level?from April 2019. The firm stated that this is due to "continued resilient in underlying demand." However, so far in 2026, U.S. imports of containerized goods are?down by 5%. In April 2026, the number of TEUs imported from China fell 15.3% on an annual basis to 680 778. Importers will likely get a "short-term boost in cash flow" when the U.S. Customs and Border Protection Agency issues the first tariff refunds for May 12th,?Descartes stated. However, he warned that uncertainty and costs would continue to persist as long as "replacement duties remain in place."
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Energy Minister says Turkey wants to extend LNG agreement with Algeria
Alparslan Bayraktar, Minister of Energy, said that Turkey was looking to extend the 'liquefied gas (LNG), agreement with Algeria before it expires in September 2027. He added that some of the LNG could be transported into southeastern Europe. The first gas supply contract was signed in 1988 by the Turkish state energy company Botas with Algerian state oil & gas company Sonatrach. It has been repeatedly extended since then. "We hope to conclude a new agreement this year." "Our current agreement expires September 2027. We aim to renew it," Bayraktar said after the meeting between the Turkish and Algerian leaders in Ankara. Bayraktar stated that after the LNG is transported to Turkey, some of it can be processed by Turkish facilities before being shipped to Europe via Bulgaria. We currently have an agreement that covers 4.4 billion cubic metres per year. He said that we could increase this to 6 to 6.5 billion cubic metres. Bayraktar stated that another item on the Ankara agenda was collaboration between Turkish Petroleum and Sonatrach for oil & natural gas explorations in Algerian waters. (Reporting and writing by Huseyin Haatsever, Daren Butler, Kate Mayberry; editing by Kate Mayberry).
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Minister: no massive flight cancellations this summer expected in France
French Transport Minister Philippe Tabarot said on Friday that he didn't expect "massive" flight cancellations this summer by airlines due to jet fuel shortages. He said that most airlines do not want to cancel flights in the summer, when they make their biggest revenues. However, some have reduced their traffic slightly. Transavia France has cancelled 2% its flights between May and June, according to a spokesperson on Friday. The French government is working on measures to help airlines, such as deferrals in social security contributions and extended deadlines for tax payments. After announcing that there would be a shortage of jet fuel within weeks due to the war in Iran, European authorities are now scrambling to find solutions. Europe depends more on imports of jet?fuel, with a?75% share coming from the Middle East, than any other type of transport fuel. (Reporting by Inti Landauro Editing by Alexandra Hudson)
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British Airways' owner IAG warns about lower profits due to rising fuel prices
IAG, the British Airways owner, forecasted a lower annual profit than originally expected on Friday. The company said that rising jet fuel prices and disruptions in supply caused by the Iran War would weigh more heavily on earnings. The company that owns Iberia, Aer Lingus and other airlines, expects jet fuel to cost 'about 9 billion euro ($10.56 billion), this year. 70% of the fuel it anticipates using in 2026 is already covered. The company didn't give any specific projections for the annual profit forecast Friday. When IAG?didn't provide a 2026 forecast in?February?, the shares?dropped. Analysts warned that the aviation industry faces one of its most challenging environments in recent years, as the Iran War?upends travel and fuel supplies while reducing sentiment.
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Maguire: Seven markets to watch if the Middle East is at peace.
If a durable peace is achieved in the Middle East, it would have a ripple effect on markets that went far beyond crude oil. Risk premias were quickly removed from everything from freight rates and fertilizer prices. Investors and traders should not only focus on whether the prices of energy are falling, but also how different parts of the complex move in relation to each other. Here are some key charts, including crude, products and shipping, as well as industrial commodities, to help you gauge whether the markets are pricing in a temporary ease of tensions, or a structural change in global demand and supply if a deal is reached. PHYSICAL VS. FUTURES Since the U.S. & Israel attacked Iran in late February, there has been a dislocation between physical and paper crude markets. Brent crude, the global benchmark for oil, has seen its physical market tighten dramatically due to the reduction in global oil supply and the increase in shipping and insurance costs. Brent Spot Prices In April, oil prices surged over $140 per barrel - near their all-time highest levels - as traders tried to accurately price the impact of conflict in the Middle East that had brought shipping to a standstill. Brent crude oil futures have also surged since the end of February. However, they topped out at less than $120 per barrel because paper traders ignored the headlines that were threatening and assumed the parties would resolve their differences soon. If refiners, traders and oil companies?believe that a lasting peace agreement has been reached, then physical oil prices will fall from their current levels. This would indicate a sustainable recovery of oil supplies. REFINING MARGINS Since the beginning of the war, oil refiners have made a lot of money thanks to the rise in fuel prices that has been driven by consumers' concerns over possible shortages. The crack spread is the difference between the price of gas oil, diesel or Brent crude futures. Due to the conflict, this widely-tracked indicator of refiner profits has increased by more than twofold since February and is now around $45 per barrel. This margin should be compressed if oil supplies are to recover. It is a good indicator of whether or not oil market participants believe that global oil flows can return to their previous levels. U.S. GASOLINE The sharp rise in gasoline prices this month to multi-year-highs has reminded U.S. legislators that the Iran war's impact extends to other major oil exporting regions. A genuine peace agreement should translate quickly into a drop in fuel prices for the United States, given its crude oil production. The?forward curve for the U.S. gas market will provide a good indicator of future fuel prices. If there is a widely-believed breakthrough with Iran, forward prices should drift back to pre-war levels. However, any skepticism regarding the peace deal will likely keep forward prices high for the foreseeable. FREIGHT FIX Chartering oil tankers out of the Middle East is one of the most noticeable effects of the Iran War. Daily rates for a VLCC from the Middle East into China have risen from less than $150,000 to over $450,000. The sudden emergence of peace in the Middle East and the resumption tanker traffic from that region should help to lower transit costs. However, a full restoration of insurance market would be required for rates to return at their former levels. BEYOND OIL The conflict in Iran has affected many markets, not just fuels and crude oil. Middle East is also a major supplier of other commodities such as fertilizers and industrial acid. Prices of jet fuels, urea, and sulphuric acids on the international market should continue to fall if a peace agreement is reached which restores the traffic in this region quickly. GAS & LNG The Middle East conflict has also impacted the global natural gas market. If a lasting peace agreement is reached, the markets will be corrected. Since the start of the war, prices for LNG (liquefied gas) and natural gas have risen in Asia and Europe. These are the markets that will see the largest potential declines once the conflict is officially over. It is true that restocking depleted gas stocks and higher gas consumption for electricity generation during summer may limit price drops in some areas, particularly during hot spells when air conditioners are used to their fullest. Stock Picking Investors who want to know how conflict resolution will affect companies, rather than the markets, may be interested in the share prices of energy producers that produce a lot of oil. After the Middle East conflict, shares of Canadian oil sands producers and U.S. shale extractors reached multi-year highs or records. Any end to hostilities, and any recovery in Middle Eastern oil production and exports, should cause a selloff of these stocks. This could lead to a wider pullback in the international oil and gas market. A genuine peace dividend will not only push oil prices lower but also reshape the spreads, flows, and relative pricing of all energy products. Investors who pay attention to these relationships rather than a single price will be in the best position to determine whether the calm in the Middle East signals the beginning of a more affordable and stable energy future. These are the opinions of the columnist, an author for. You like this column? Check out Open Interest, your new essential source for global financial commentary. Follow ROI on LinkedIn, X and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.
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Mitsui O.S.K. Mitsui O.S.K.
Japan's Mitsui O.S.K. Lines (MOL), said that on Friday, 'three of their vessels which transited a Strait of Hormuz in April and exited Gulf did not pay transit fees. They adhered to an international law principle. In its proposal to end the conflict with Israel and America, Tehran proposed to charge fees or tolls for vessels that pass through the Strait. The Strait is a vital sea route, and about a fifth (or more) of all global?crude-oil and LNG flows pass through it during normal times. A spokesperson for the company said that it does not intend to pay these fees in the future. In an interview with MOL President Jotaro Tamura in April, the president said, "This is a?of navigation that is based on international laws, and we abide by it." MOL, who still has several ships in the Gulf, was asked how they were able pass through the Strait. They credited the efforts of the relevant countries and stakeholders. The spokesperson said on Friday that "we will continue to put the safety of crews, vessels and cargo above all else." A liquefied gas carrier (LNG) with a Panama flag, owned jointly by an Omani company, and a MOL-linked tanker, traversed the Strait of Hormuz in April. This was the first time since the Iran crisis escalated. Since then, two Indian-flagged liquefied Petroleum Gas (LPG), owned by an affiliate company, have also crossed. The U.S. Treasury warned that any shipper who pays?tolls? to Iran for passage through the Strait of Hormuz could face punitive sanctions. (Reporting and writing by Kentaro Obayashi, Editing by Clarence Fernandez).
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Former China Eastern Airlines Chairman indicted for bribery
China's top prosecutor announced on Friday that a former chairman of China Eastern Airlines Group had been?indicted for bribery. This is the latest high-profile action against corruption as Beijing intensifies its campaign to combat?corruption. The news comes a day after Xinhua, the official news agency, highlighted the magnitude of the effort. Former defence ministers Wei Fenghe, and Li Shangfu were sentenced to death for graft, but with a 2-year reprieve. Xinhua reported that Liu Shaoyong was accused of "abusing a number of official positions... in order to obtain?benefits and accept bribes involving cash and valuables". It added that the charges include Liu's time as airline chairman. Liu was kicked out of the Chinese Communist Party in January. Liu could not be reached for comment. Since President Xi Jinping became China's leader, in?2012 the anti-graft campaigns has targeted both "tigers" and "flies", or high-ranking officials and lower-level officers. The focus has been?increasingly on the misuse?of public money, bank credit and assets of state-owned enterprises, local government resources, infrastructure spending. China's top anti-corruption watchdog announced on Thursday that Hou Weidong had been expelled by the ruling party due to "serious breaches of discipline and laws". Hou accepted illegally?gifts and money, borrowed large amounts from management and service providers, and had other pay his expenses, according to the report. The case is currently being reviewed by the public prosecutor. This week, the crackdown was also directed at two local officials. Xinhua reported that Jin?Zhizhen was 'expelled' from the Party for "serious violations of law and discipline". Zhou Xi'an was a former vice-chairman of the Anhui Provincial Committee of the same 'Conference'. He received a suspended 'death sentence' with a 2-year reprieve. This is one of China's most severe graft punishments. The state broadcaster CCTV reported on Thursday that he illegally accepted money, valuables and other items worth more than 20 million dollars. $1 = 6.8043 Chinese Yuan Renminbi (Reporting and editing by Farah master and the Beijing Newsroom)
A new hantavirus is suspected in a remote island, as the contact tracking continues
On Friday, a suspected case of the hantavirus virus was identified in a British citizen on the South Atlantic Island of Tristan da Cunha.
The British Health Security Agency did not reveal any further details about the suspected new case, which occurred on the island with only 200 residents, the world's most remote inhabited one, where the cruise ship stopped on April 15,
The outbreak on the MV Hondius has killed three people - a Dutch family and a German.
In addition to the four others who have been confirmed as infected by the virus, two Britons and one Dutch national are currently being treated at hospitals in South Africa, Netherlands and Switzerland.
Dutch woman dies shortly after leaving the ship on 24 April. She was the Dutch woman who married 'patient zero,' the Dutchman who died on board the ship on 11 April.
The World Health Organisation said that it will provide an update of the latest confirmed and suspected case numbers on Friday.
NON-REPLICATION OF NEW INFECTIONS IN THE NETHERLANDS
The Dutch Health Authorities said that on Thursday, two people who were close to the woman prior to her being taken off the plane in Johannesburg due to her deteriorating health condition had tested negative for the virus.
The World Health Organisation announced on Friday that a flight attendant was among them. She had been admitted into a hospital in Amsterdam after showing symptoms of an infection.
The Dutch Public Health Institute said that it is still awaiting clear test results in the third case, which occurred on Friday.
Low Risk of Widespread Contagion
Hantavirus usually spreads by rodents, but the strain found in passengers on the Hondius could in rare cases be transmitted from person to person.
The U.S. Centers for Disease Control and Prevention have classified the hantavirus as 'level 3,' the lowest level for emergency activation.
Experts have also emphasized the low likelihood of a widespread outbreak. However, the outbreak has put the authorities on high alert. They urge anyone who may have been in contact with passengers that left the Hondius prior to the outbreak being reported to be aware of any symptoms.
Some states in the U.S. have stated that they monitor residents who returned home after disembarking a cruise ship.
Singapore has isolated and tested two residents of the ship.
No SYMPTOMATIC Passengers on Board Ship
Oceanwide Cruises said on Thursday that there were no symptoms of an infection at the ship, which is expected to dock early Sunday morning in Tenerife?in the Canary Islands.
The WHO said it was working on step by step instructions for the passengers who remain on board the ship to disembark.
British health services said that passengers who do not show symptoms on board will be sent home to quarantine for 45 days.
(source: Reuters)