2025-06-13 12:45
NEW DELHI, June 13 (Reuters) - Air India and the Indian government are looking at several aspects of the Boeing 787-8 crash in Ahmedabad, including issues with the jet's engine thrust, its flaps, and why its landing gear remained open, a source with direct knowledge told Reuters on Friday. The government is also looking at whether Air India was at fault, including over maintenance issues, the source said. Sign up here. More than 240 people were killed in the crash on Thursday. https://www.reuters.com/world/india/air-india-government-probing-engine-thrust-flaps-landing-gear-after-crash-source-2025-06-13/
2025-06-13 12:43
SAO PAULO, June 13 (Reuters) - Brazilian fintech Meliuz (CASH3.SA) , opens new tab raised 180.08 million reais ($32.39 million) in a follow-on share offering aimed at obtaining funds to purchase bitcoin, it said in a securities filing on Friday. Meliuz said that the offering, which had investment bank BTG Pactual as bookrunner, was priced at 7.06 reais per share, a 5% discount over its Thursday closing price. Sign up here. Meliuz's move to buy more bitcoin came as the company earlier this year launched a new strategy allowing it to allocate cash reserves in the cryptocurrency, labeling itself "the first bitcoin treasury company" in Brazil. ($1 = 5.5594 reais) https://www.reuters.com/world/americas/brazils-meliuz-raises-324-million-share-offering-buy-bitcoin-2025-06-13/
2025-06-13 12:22
MADRID, June 13 (Reuters) - Energy companies Iberdrola (IBE.MC) , opens new tab and Endesa (ELE.MC) , opens new tab have proposed a review of Spain's nuclear phase-out calendar, an Energy Ministry spokesperson said on Friday, after a major outage in April reignited debate over nuclear power. Spain has a plan to close all of its nuclear reactors by 2035 and some were offline on April 28, when the blackout took out power and telecommunications across the Iberian Peninsula. The causes of the outage are still being investigated. Sign up here. The proposal was not endorsed by all the companies with stakes in Spain's nuclear fleet. Naturgy (NTGY.MC) , opens new tab and EDP (EDP.LS) , opens new tab did not sign it, the spokesperson told Reuters. The proposal ties the extension to a revision of the fiscal framework for nuclear energy - the industry has repeatedly urged policymakers to lower taxes, which they blame for hindering the plants' ability to compete on the market. As such, it isn't in line with the conditions set by Spanish Prime Minister Pedro Sanchez to open a discussion over the review, namely that it guarantees security of supply, safety and that it doesn't weigh on taxpayers, the spokesperson said. Under the existing plan, the phase-out will start in 2027 with the closure of the first reactor at the Almaraz plant in western Spain, with the plant's second reactor to shut down the following year. The energy companies' proposal would extend the lifespan of the Almaraz plant to 2030, the Energy Ministry spokesperson said. Iberdrola didn't immediately reply to a request for comment while Endesa, controlled by Italian energy giant Enel (ENEI.MI) , opens new tab, declined to comment. A Naturgy spokesperson declined to comment but pointed to previous statements by Executive Chairman and CEO Francisco Reynes, who supported a review of the calendar and an extension of the operation of the Almaraz reactors. "We are not aware of any letter," an EDP spokesperson said. EDP Chief Executive Miguel Stilwell d'Andrade said in an interview in April that, when it comes to nuclear, Spain's climate and energy plan should be followed. The plan includes a phase out by 2035. https://www.reuters.com/business/energy/iberdrola-endesa-propose-review-spains-nuclear-phase-out-calendar-2025-06-13/
2025-06-13 12:11
SHANGHAI, June 13 (Reuters) - Solar manufacturing company heads in China, grappling with losses and tariffs on exports to the U.S., called for an end to a price war and a solution to overcapacity in the sector, but industry participants predict a slow turnaround. China's solar manufacturers have reported losses this year as U.S. President Donald Trump'strade war put further pressure on demand within the industry. Sign up here. Losses in the photovoltaic manufacturing value chain reached $40 billion last year, while for the industry as a whole - including firms' other business lines - totalled $60 billion, Trina Solar (688599.SS) , opens new tab Chairman Gao Jifan said. The Chinese government and industry were working to address the overcapacity and breakneck competition that have pushed most major producers into the red, Gao told the SNEC PV+ Photovoltaic Power Conference and Exhibition in Shanghai this week. The National Development and Reform Commission (NDRC), China's state planner, held an online meeting in February calling for a ban on new production, Gao said, but new capacity has nevertheless been built in recent months. NDRC did not immediately respond to a faxed question on the matter. Zhu Gongshan, chairman of polysilicon and module producer GCL, called for a "clear out" of the sector through mergers and a paring back of production capacity. China was also moving away from reliance on a single market, Zhu said, referring to growth in new markets outside China in response to tariffs and other trade barriers. Chinese manufacturers have been rapidly expanding in the Middle East, and a module-producing firm said demand is set to grow in eastern Europe and South Asia. Solar manufacturing makes up less than two-thirds of Trina's business now and will fall to 50% or less in the next two to three years, Gao said, with a greater focus on product solutions and energy storage. Several experts told Reuters during this week's industry event that there is no hope for recovery in solar component prices this year. One procurement manager at a module producer in eastern China said two or three large factories would have to stop production for supply and demand to rebalance and support prices, unlikely in the near future. "The overcapacity issue is so deep one cannot see to the bottom," another module producer, using a Chinese proverb. https://www.reuters.com/sustainability/climate-energy/china-solar-industry-address-overcapacity-challenge-turnaround-far-off-experts-2025-06-13/
2025-06-13 12:08
JAKARTA, June 13 (Reuters) - Indonesia aims to seal a free trade agreement with the European Union in 2026, Indonesian trade ministry official Djatmiko Bris Witjaksono said on Friday, after the two sides completed their latest round of negotiations. Indonesia and the EU have been in discussions on the agreement for about nine years, and are aiming to sign and ratify it by next year, Djatmiko told reporters, adding it could come into effect by late 2026 or early 2027. Sign up here. The EU has committed to provide market access to priority Indonesian products such as palm oil, textiles, footwear and seafood, Djatmiko said. Indonesia and the EU have previously clashed on tougher EU trade rules for products with potential links to deforestation, which could have an impact on shipments of Indonesian palm oil. In turn, Indonesia has also pledged to increase market access for agricultural and manufactured goods from the EU, Djatmiko said. EU ambassador to Indonesia Denis Chaibi said negotiations are ongoing and "substance will determine timing." The main benefits of the free trade deal for Indonesia include increased foreign direct investment from the EU in sectors like renewables, semiconductors, and mineral derivatives, a presentation slide presented by Djatmiko showed. The deal could increase exports by 5.4%, according to an internal benefit analysis, but senior economic minister Airlangga Hartarto said this was a conservative estimate and he targets a 50% increase in three years. In 2024, the EU invested $1.1 billion in Indonesia, a drop of more than 50% from the previous year. Indonesia's exports to the EU last year were worth $17.3 billion, while imports from the EU were worth $12.8 billion, Indonesian government data showed. https://www.reuters.com/markets/commodities/indonesia-aims-seal-eu-free-trade-agreement-2026-official-says-2025-06-13/
2025-06-13 11:56
ATHENS, June 13 (Reuters) - Merchant shipping is continuing to pass through the Strait of Hormuz despite Israel's large-scale attacks on Iran on Friday, the multinational, U.S.-led Combined Maritime Force said, although some shipowners were looking to avoid the region. Iran has in the past threatened to close the critical Strait of Hormuz to traffic in retaliation for Western pressure. Analysts have said that any closure of the Strait could restrict trade and impact global oil prices. Sign up here. "The Strait of Hormuz remains open and commercial traffic continues to flow uninterrupted," the Combined Maritime Force said in advisory, adding that events over the last day had increased the likelihood of regional conflict to "significant". Israel said it had targeted nuclear facilities, ballistic missile factories and military commanders during the start of a prolonged operation to prevent Tehran from building an atomic weapon. Iran denies having any such plan. "We have reports that more ship owners are now exercising extra caution and are opting to stay away from the Red Sea and the Persian Gulf," said Jakob Larsen, chief safety & security officer with shipping association BIMCO. If the United States is perceived to be involved in any attacks, "the risk of escalation increases significantly", Larsen said. "Such an escalation could include missile attacks on ships or laying of sea mines in the Strait (of Hormuz)." Greece and Britain have advised their merchant shipping fleets to avoid sailing through the Gulf of Aden and to log all voyages through the Strait of Hormuz following Israel's attacks on Iran, documents seen by Reuters showed. Greek ship owners were urged to send details of their vessels sailing through the Strait of Hormuz to Greece’s maritime ministry, according to one of the documents issued by Greece's shipping association, which was sent on Friday. "Due to developments in the Middle East and the escalation of military actions in the wider region, the (Greek) Ministry of Shipping ... urgently calls on shipping companies to send ... the details of Greek-owned ships that are sailing in the maritime area of the Strait of Hormuz," the document said. All UK-flagged vessels, which include the Gibraltar, Bermuda and Isle of Man 'red ensign' registries, were advised to avoid sailing through the southern Red Sea and the Gulf of Aden, a separate document issued by the UK's transport ministry said. If sailing through those areas, vessels must adhere to their highest level of security measures and limit the number of crew on deck during voyages, said the advisory, seen by Reuters. The European Union's naval mission in the Red Sea, Aspides, is continuing operations as normal but is monitoring developments in the region, an Aspides official told Reuters. https://www.reuters.com/world/europe/greece-uk-urge-ships-avoid-red-sea-log-hormuz-voyages-documents-show-2025-06-13/
