2025-10-09 23:24

WASHINGTON, Oct 9 (Reuters) - Private nuclear power company Holtec said this week it is walking away from a project to store nuclear waste in New Mexico, despite a U.S. Supreme Court ruling in June that gave some hope to projects aiming to store the radioactive material. In June, the Supreme Court threw out a legal challenge by Texas and New Mexico and some oil producers to the U.S. Nuclear Regulatory Commission's licensing of nuclear waste storage projects in drilling country, which some believed opened the way to temporary storage in those states. Sign up here. But New Mexico state lawmakers and Governor Michelle Lujan Grisham have opposed storing the waste at the site even temporarily, fearing that in the absence of permanent U.S. site for nuclear waste it would become a permanent fix. Holtec said in a statement on Wednesday that it was leaving the HI-STORE project, which is near the oil and gas hub Carlsbad in the Permian Basin. "Due to the untenable path forward for used fuel storage in New Mexico, we mutually agreed upon cancelling the agreement," with partner the Eddy-Lea Energy Alliance, said the statement, which was first reported by Axios. "It's been clear for years that most New Mexicans oppose spent fuel storage and disposal in the state. We're glad that Holtec has finally recognized that reality," said Don Hancock, director of the nuclear waste safety program at the Southwest Research and Information Center in Albuquerque. Holtec spokesperson Pat O'Brien said the company hopes to work with other states that are amenable to storing the waste after outreach work by the U.S. Department of Energy that started during the former President Joe Biden's administration. O'Brien said Holtec believes that communities from about 15 to 20 states will look to move forward with potential hosting of a storage facility. Nuclear waste requires careful storage for thousands of years because it is dangerous to human health. It is now stored at nuclear power stations, both operating and closed. The U.S. spent billions of dollars on a permanent site called Yucca Mountain in Nevada, but funding was halted in 2010 by former President Barack Obama's administration after opposition from state lawmakers. https://www.reuters.com/business/energy/holtec-walks-away-nuclear-waste-project-new-mexico-2025-10-09/

2025-10-09 23:11

Chinese airlines benefit from reduced flight time and fuel burn using Russian airspace US carriers have not been allowed to fly over Russia since 2022 Cargo-only flights not included in US proposal WASHINGTON, Oct 9 (Reuters) - The Trump administration on Thursday proposed banning Chinese airlines from flying over Russia on routes to and from the United States, saying the reduced flight time this practice enables puts American carriers at a disadvantage. The proposal is another escalation of the trade war between the world's two largest economies and was announced after Beijing on Thursday tightened controls for rare earths exports crucial for some U.S. industries. Sign up here. U.S. airlines have long criticized the decision to allow Chinese carriers to use Russian airspace on U.S. routes because it gives them the advantage of decreased flying time and burns less fuel, lowering costs. Russia has barred U.S. airlines and many other foreign carriers from flying over its airspace in retaliation for Washington banning Russian flights over the U.S. in March 2022 after the country invaded Ukraine. Chinese airlines were not banned and have been using this advantage to increase market share compared to non-Chinese carriers on international routes. The U.S. Transportation Department said on Thursday in its proposed order the current situation was "unfair and has resulted in substantial adverse competitive effects on U.S. air carriers." The current proposal to apply the overflight restriction to U.S.-issued foreign air carrier permits does not apply to cargo-only flights, it added. The Transportation Department's decision could affect some U.S. flights operated by Air China (601111.SS) , opens new tab, China Eastern (600115.SS) , opens new tab, Xiamen Airlines and China Southern (600029.SS) , opens new tab. The order did not name Hong Kong-based airline Cathay Pacific (0293.HK) , opens new tab, which overflies Russia on its New York to Hong Kong route, according to flight tracking website Flightradar24. Cathay did not immediately respond to a request for comment. China's aviation regulator, the Chinese embassy in Washington and Airlines for America, a major trade group representing carriers American Airlines (AAL.O) , opens new tab, Delta Air Lines (DAL.N) , opens new tab and United Airlines (UAL.O) , opens new tab that all fly to China, did not respond immediately to requests for comment. Chinese mainland-listed shares in the country's three biggest airlines fell slightly on Friday. Air China was down 1.3%, China Southern fell 1.8% and China Eastern slipped 0.3% by the middle of the day. The state-owned carriers have struggled since the pandemic, posting five consecutive years of annual losses. TRADE TENSIONS The proposal to ban Chinese airlines from using Russian airspace on U.S. routes comes amid growing tensions between Beijing and Washington over a series of economic issues. Boeing (BA.N) , opens new tab is in talks to sell as many as 500 jets to China, which would represent a major breakthrough for the company in the world's second-largest aviation market, where orders have stalled amid U.S.-China trade tensions. U.S. President Donald Trump and his Chinese counterpart Xi Jinping are expected to hold a face-to-face meeting in South Korea at the end of October. The Transportation Department is giving Chinese carriers two days to respond to its proposal and said a final order could be in effect as soon as November. In May 2023, the U.S. approved additional flights by Chinese carriers after they agreed not to fly over Russia on new routes, Reuters reported. Last year, the Transportation Department said Chinese passenger airlines could boost weekly round-trip U.S. flights to 50 but opted not to add more flights after pressure from U.S. unions and airlines. More than 150 weekly round-trip passenger flights were allowed by each side before restrictions were imposed in early 2020 due to the COVID-19 pandemic. Some U.S. carriers have told the Trump administration that direct East Coast flights to China are not economically feasible if they do not fly over Russia. In some cases, carriers must leave some seats open and reduce cargo because of the increased flight length. https://www.reuters.com/world/china/trump-proposes-barring-chinese-airlines-flying-over-russia-us-flights-2025-10-09/

2025-10-09 22:47

Colonial informed employees of changes this week - statement Job cuts follow takeover of Colonial by asset manager Brookfield No operational impact from changes, Colonial says NEW YORK, Oct 9 (Reuters) - The Colonial Pipeline Company, operator of the largest U.S. fuel transportation system, informed employees this week it is planning to cut some jobs, according to two sources familiar with the matter and a company statement. "We shared with our employees this week that a recent review to ensure our organization is best aligned to continue safely meeting our business strategy and priorities will result in changes to various team structures and some individual roles," the company said in response to Reuters queries about the job cuts. Sign up here. The scope of the job cuts could not be learned immediately. Colonial Pipeline declined to say how many jobs would be cut. The changes come just months after New York-based asset manager Brookfield Infrastructure Partners (BIP.N) , opens new tab took over Colonial in a deal valued at about $9 billion, becoming the first sole owner of the over 5,500-mile pipeline network since its construction in the 1960s. The company was previously owned by European oil major Shell (SHEL.L) , opens new tab, investment firm KKR (KKR.N) , opens new tab, Canadian pension fund Caisse de dépôt et placement du Québec, private U.S. conglomerate Koch Industries' investments arm, and asset manager IFM Investors. Colonial, which moves over 2.5 million barrels per day of fuel from the U.S. Gulf Coast to top consumption centers across the country's East Coast, said the changes will not affect its operations. "The changes do not affect our commitment to providing safe, reliable, and responsible fuel transportation services for more than 50 million Americans daily," it said in the statement. Colonial this year has made efforts to raise the amount of fuel it can move on its network through a combination of operational enhancements and changes to the way products are placed and delivered on its system, although the latter attracted protests from its shippers. https://www.reuters.com/business/world-at-work/colonial-pipeline-cut-jobs-sources-say-2025-10-09/

2025-10-09 22:37

USDA halts release of grain export sales data, crop report Disruption prevents confirmation of potential soy sales to China Traders, farmers uncertain over US corn and soy output CFTC suspends weekly data showing funds' market positions CHICAGO, Oct 9 (Reuters) - U.S. data vital to global grain and soybean trading has gone dark during the federal government's shutdown, leaving commodity traders and farmers without crop production estimates, export sales data and market reports during the peak of the autumn harvest. The data blackout comes at a particularly difficult time for farmers, who are grappling with low grain prices and uncertainty over damage to corn and soy fields from dry weather and crop diseases. Sign up here. Previous shutdowns during President Donald Trump's first term were less disruptive because they happened after harvest season, analysts said. Trump is now locked in a trade war with China that has kept the world's biggest soy importer from buying U.S. supplies. Traders have been watching closely for any hint of a deal, but the U.S. Department of Agriculture is not confirming export sales as usual now. The disruption has left growers and traders without fresh government information on the progress of the harvest and the state of the crops. The industry relies on USDA reports to price and hedge commodities from corn and soy to cattle and hogs. "The market is just flying blind here,” said Sherman Newlin, an Illinois farmer and analyst with Risk Management Commodities. Among the halted releases are USDA's weekly export sales report and daily sales announcements, and its monthly World Agricultural Supply and Demand Estimates (WASDE), which was due on Thursday. The supply and demand report would have provided updates on U.S. corn and soybean output and global demand while farmers haul in large crops. The Commodity Futures Trading Commission also suspended the release of weekly data that shows speculators' positions in the markets, which can influence crop prices. The CFTC could not immediately be reached for comment, while the USDA blamed Democrats for data disruptions. "While Democrats continue to vote to prolong the government shutdown, key USDA reports like WASDE and the crop progress report are delayed, depriving farmers of important information they use to market their crops and plan for next year," the USDA said in a statement to Reuters. Without those updates, investors are talking with farmers, studying satellite imagery and focusing on technical pricing movements on the Chicago Board of Trade to try to figure out what commercial grain traders and commodity funds are doing. But the data gap has resulted in a lack of market transparency and an uneven playing field, some traders said. Major grain firms such as Cargill, Bunge Global (BG.N) , opens new tab and Archer-Daniels-Midland (ADM.N) , opens new tab hold large grain inventories and proprietary data, giving them an advantage over smaller players, traders said. The companies declined to comment. MISSING AN OBJECTIVE PICTURE Trading volumes in grain futures have suffered as investors hesitate to take large positions without the CFTC's weekly Commitments of Traders data, which reveals fund positions. "Without that kind of data, who wants to take on big risk?" Newlin said. The blackout hits U.S. traders hardest as market participants in Asia, South America and Europe have other data sources, said Ole Houe, director of advisory services at IKON Commodities in Sydney. Traders said they can survive October without USDA's monthly supply and demand data because it is well known that U.S. harvests are large. They could face a shock when updates resume, though. "The entire grain industry watches this monthly report," said Erica Maedke, vice president of Ever.Ag Insights, of WASDE. "By next month, everybody's estimates are going to be off." In the meantime, analysts are leaning on conversations with farmers and grain elevators to piece together the market picture. Traders are also tracking basis levels for soybeans, or the difference between cash prices and futures, to decipher whether farmers are delaying crop sales or supplies may be tightening due to export demand. "It’s like looking at an elephant but only seeing a sliver of it," Maedke said. "USDA gives us the whole picture every month. Without it, you only see your little piece." Private firms including StoneX and S&P Global Commodity Insights have issued their own production estimates showing smaller corn yields. Still, USDA’s data, drawn from satellite imagery, farmer surveys and field samples, remains the benchmark. "Overall, USDA gives us the most objective numbers we have," said Diana Klemme of Grain Service Corporation in Atlanta. "They may not always be right, but the market trades on them. We miss them." https://www.reuters.com/world/china/farmers-traders-flying-blind-us-shutdown-blocks-key-crop-data-2025-10-09/

2025-10-09 22:23

Oct 9 (Reuters) - The U.S. Bureau of Labor Statistics is bringing some furloughed workers back in order to get the statistical agency's benchmark report on inflation out despite the wider shutdown of the federal government, the New York Times and Bloomberg reported on Thursday. A specific target date for releasing the Consumer Price Index - originally scheduled for release on October 15 - was not clear, but the Times reported it was likely to be released in time for the Federal Reserve's next interest-rate-setting meeting on October 28-29. Sign up here. The CPI report for September is essential to determining the annual cost-of-living adjustment to Social Security payments, an event anticipated by millions of American retirees and others dependent on the benefits program. https://www.reuters.com/world/us/bls-bringing-back-staff-get-inflation-report-out-reports-say-2025-10-09/

2025-10-09 22:01

Oct 9 (Reuters) - Former U.S. Federal Reserve Governor Larry Lindsey has withdrawn his name from consideration for the position of chair of the U.S. central bank, CNBC reported on Thursday. Reuters could not immediately verify the report. Sign up here. https://www.reuters.com/world/us/former-us-fed-governor-larry-lindsey-withdraws-name-fed-chair-cnbc-reports-2025-10-09/