2025-10-11 13:48

Oct 11 - UTI Asset Management Company (UTIA.NS) , opens new tab has temporarily suspended fresh lump-sum and switch-in investments into the UTI Silver ETF Fund of Fund, effective October 13, 2025, the company said in a statement on Saturday. The asset manager said this was due to prevailing market conditions and a shortage of physical silver in the domestic market as the metal trades at a premium relative to international prices. Sign up here. "Therefore, the premium in domestic silver prices directly impacts the valuation of the scheme." UTI is the second fund manager to curb new investments into silver-based funds this week. On Thursday, Kotak Mahindra Asset Management Company also temporarily suspended new investments into a Silver ETF Fund of Fund. Kotak said it would read more within the next couple of weeks as supply improves after the Hindu festival of Diwali. Spot silver hit a record high of $51.22 per ounce on Thursday, surpassing the $51 per ounce level for the first time. In India, the world's biggest silver consumer, silver's premium over official domestic prices jumped as much as 10% on Thursday because of strong investment demand ahead of a key festival and limited supplies, bullion dealers said. https://www.reuters.com/business/indias-uti-asset-management-halts-new-investments-silver-etf-2025-10-11/

2025-10-11 05:03

HOUSTON, Oct 10 (Reuters) - Exxon Mobil restarted the gasoline-producing fluidic catalytic cracking unit on Thursday at its 612,000-barrel-per-day refinery in Beaumont, Texas, people familiar with plant operations said. The 120,000-bpd FCCU was shut on Tuesday night by a malfunction, according to a notice the company filed with the Texas Commission on Environmental Quality. Sign up here. Exxon spokesperson Kelly Davila declined to comment on Friday on the operation of specific units at the Beaumont refinery. "Operations (at the refinery) are normal and we expect to meet customer commitments," Davila said. The FCCU shut down following the malfunction shortly after 9:30 p.m. CDT on Tuesday (0230 GMT Wednesday). The TCEQ notice said Exxon expected flaring to continue for about 24 hours after the malfunction. Refineries use their safety flare systems to burn off hydrocarbons that cannot be processed normally. FCCUs use a fine powder catalyst under high heat and pressure to convert gas oil into unfinished gasoline. https://www.reuters.com/business/energy/exxon-restarts-fccu-beaumont-texas-refinery-sources-say-2025-10-10/

2025-10-11 01:16

Oct 10 (Reuters) - The United States on Friday threatened to use visa restrictions and sanctions to retaliate against nations that vote in favor of a plan put forward by a United Nations agency to reduce planet-warming greenhouse gas emissions from ocean shipping. U.N. member nations are scheduled to vote next week on the International Maritime Organization's Net-Zero Framework proposal to reduce global carbon dioxide gas emissions from the international shipping sector, which handles around 80% of world trade and accounts for close to 3% of global greenhouse gases. Sign up here. Large container carriers, under pressure from investors to fight climate change, generally agree that a global regulatory framework is crucial to speeding up decarbonisation. Still, some of the world's biggest oil tanker companies said they had "grave concerns" about the proposal. "The Administration unequivocally rejects this proposal before the IMO and will not tolerate any action that increases costs for our citizens, energy providers, shipping companies and their customers, or tourists," U.S. Secretary of State Marco Rubio, U.S. Energy Secretary Chris Wright and U.S. Transportation Secretary Sean Duffy said in a joint statement. The "proposal poses significant risks to the global economy and subjects not just Americans, but all IMO member states to an unsanctioned global tax regime that levies punitive and regressive financial penalties," they said. Without global regulation, the maritime industry would face a patchwork of regulations and increasing costs without effectively curbing climate-warming greenhouse gas emissions, supporters of the IMO proposal have said. The U.S. is considering retaliation against U.N. countries that support the plan, the U.S. officials said in Friday's statement. That includes potentially blocking vessels flagged in those nations from U.S. ports, imposing visa restrictions and fees, and slapping sanctions on officials "sponsoring activist-driven climate policies." https://www.reuters.com/world/us-threatens-visa-restrictions-sanctions-against-un-members-that-back-imo-2025-10-11/

2025-10-11 00:23

FAA head says safety will not be compromised as staffing shortages persist More than 23,000 flights have been delayed this week USDOT says about half of flight delays this week have been tied to FAA staffing issues WASHINGTON, Oct 10 (Reuters) - The Federal Aviation Administration said on Friday that air traffic control staffing issues delayed travel for a fifth straight day as major U.S. airlines urged air travelers to be patient during an ongoing government shutdown. More than 6,400 flights were delayed on Friday - and 470 canceled - after 22,000 had been delayed since Monday, according to flight tracking website FlightAware. Air travel is expected to rise in the United States during the three-day Columbus Day holiday weekend. Sign up here. The FAA said late on Friday it was experiencing staffing issues in Chicago, New York, Newark, San Diego, Dallas, Washington and Phoenix, among other airports. A temporary evacuation of the Atlanta air traffic control tower Friday due to a fire alarm and reports of a strong natural gas odor also snarled flights. Airlines were urging passengers to be patient. "It is safe to fly, but ATC staffing shortages strain the system and cause flights to be spaced out, slowing down everything," said Airlines for America, the trade group representing American Airlines (AAL.O) , opens new tab, United Airlines (UAL.O) , opens new tab, Delta Air Lines (DAL.N) , opens new tab, Southwest Airlines (LUV.N) , opens new tab and other major carriers, warning of delays or cancellations. "The bottom line is that anyone heading to the airport right now is encouraged to pack their patience." Air traffic control has become a flashpoint in the debate over the shutdown with both parties blaming the other. The Trump administration on Thursday began airing videos at security checkpoints blaming Democrats. The head of the FAA said earlier the agency is facing continuing air traffic control staffing shortages as a U.S. government shutdown entered its 10th day but emphasized safety would not be compromised. "Staffing shortages have increased across the country," FAA Administrator Bryan Bedford said in an email to employees. "Safety will never be compromised. When staffing constraints occur, we will reduce the flow of air traffic into affected airports and centers to maintain safe operations." Some 13,000 air traffic controllers and about 50,000 Transportation Security Administration officers must still turn up for work during the government shutdown, but they are not being paid. Controllers are set to receive a partial paycheck on October 14 for work performed before the shutdown. In 2019, during a 35-day shutdown, the number of absences by controllers and TSA officers rose as workers missed paychecks, extending checkpoint wait times at some airports. Authorities were forced to slow air traffic in New York, which put pressure on lawmakers to quickly end the standoff. The U.S. has faced an air traffic controller staffing shortage for more than a decade, and many had been working mandatory overtime and six-day weeks even before the shutdown. The FAA is about 3,500 air traffic controllers short of targeted staffing levels. U.S. Transportation Secretary Sean Duffy warned on Thursday that air traffic controllers who repeatedly fail to show up for work during the government shutdown could be fired. https://www.reuters.com/world/us/airlines-urge-patience-us-air-traffic-staffing-issues-continue-2025-10-10/

2025-10-10 23:56

MEXICO CITY, Oct 10 (Reuters) - Heavy rainfall in Mexico has left at least 27 people dead and more missing, authorities said on Friday, as downpours triggered several landslides, cut off power in some municipalities and caused rivers to burst their banks. Civil protection authorities in Hidalgo state reported 16 deaths and said at least 1,000 homes and hundreds of schools had been affected. Sign up here. Puebla state Governor Alejandro Armenta said at least nine people had died due to incidents such as landslides and another five had been reported missing. Authorities reported two more deaths in Veracruz state. "We are working to support the population, open roads and restore electrical services," President Claudia Sheinbaum said in a post on X. She shared photos of emergency responders carrying supplies as they waded knee-deep in flooded streets. A video from the Navy showed an officer searching for stranded people as he advanced down a street neck-deep in water in Poza Rica, where heavy rains and the flooding of the Cazones river brought much of Veracruz town under water. The ministry of defense said it had deployed over 5,400 personnel to help monitor, evacuate and clean up affected areas. Meanwhile, storms Raymond and Priscilla have been dumping rains on the Baja California peninsula and the country's western Pacific seaboard. https://www.reuters.com/business/environment/heavy-rains-mexico-leave-more-than-20-dead-2025-10-10/

2025-10-10 23:49

Once big, Chinese orders are now a small part of Boeing's backlog Financial effect of a ban would likely be relatively small for Boeing Boeing, China had reportedly been in talks for 500-jet deal WASHINGTON, Oct 10 (Reuters) - The United States could impose export controls on Boeing (BA.N) , opens new tab plane parts as part of Washington's response to Chinese export limits on rare earth minerals, President Donald Trump said on Friday. Trump has frequently used Boeing in his aggressive efforts to reshape global trade since taking office in January. During clashes with Trump over trade, Beijing in April ordered Chinese airlines to temporarily stop taking deliveries of new Boeing jets. The planemaker has also landed several large sales from foreign carriers following visits by Trump. Sign up here. "We have many things, including a big thing is airplane. They (China) have a lot of Boeing planes, and they need parts, and lots of things like that," Trump told reporters at the White House, when asked what items could the U.S. impose export controls on. The planemaker is in talks to sell as many as 500 jets to China, Bloomberg reported in August. It would be the U.S. planemaker's first major Chinese order since Trump's first term in office. Even if that falls through, the financial hit to Boeing will likely be small, said Scott Hamilton, an aerospace analyst with Leeham Co. "It's sandpaper on Boeing's hide." Historically, China made up as much as 25% of Boeing's order book, but today it is less than 5%. Chinese airlines have orders for at least 222 Boeing jets, according to Cirium, an aviation analytics company. The country has 1,855 Boeing airplanes in service. The vast majority of planes on order and in service are Boeing's popular 737 single-aisle jet. A ban on spare parts or exports would also hit CFM International, the joint venture between GE Aerospace (GE.N) , opens new tab and France's Safran, which makes the LEAP engine used on the Boeing 737 MAX. GE also makes engines for the 777 and 787, two larger jets that China has ordered. Boeing's European rival Airbus has only 185 orders from Chinese customers, according to Cirium. Airbus has a production facility in Tianjin, which turns out about four of its single-aisle A320 jets a month. China is trying to jumpstart its own commercial jetliner industry, largely with the COMAC C919, a competitor to the A320 and 737. Chinese customers have ordered 365 of the domestically-built jet, according to Cirium. U.S. export controls on Western-supplied parts for the C919 have significantly slowed production of that aircraft. As of September, COMAC had delivered only five of the 32 jets Chinese customers expect this year. https://www.reuters.com/business/aerospace-defense/trump-threatens-export-controls-boeing-parts-response-china-2025-10-10/