2025-02-17 21:57
Three people critically injured, one of them a child Video shows plane belly up on snow-covered tarmac Toronto had been experiencing strong winds and snowstorm TORONTO, Feb 17 (Reuters) - A Delta Air Lines (DAL.N) , opens new tab regional jet flipped upside down upon landing at Canada's Toronto Pearson Airport on Monday amid windy weather following a snowstorm, injuring 18 of the 80 people on board, officials said. Three people on flight DL4819 from Minneapolis-St. Paul International Airport suffered critical injuries, among them a child, a Canadian air ambulance official said, with 15 others also immediately taken to hospitals. Some of the injured have since been released, Delta said late on Monday. The U.S. carrier said a CRJ900 aircraft operated by its Endeavor Air subsidiary was involved in a single-aircraft accident with 76 passengers and four crew members on board. The 16-year-old CRJ900, made by Canada's Bombardier (BBDb.TO) , opens new tab and powered by GE Aerospace (GE.N) , opens new tab engines, can seat up to 90 people. At least one of the two wings was no longer attached to the plane, video showed after the accident. Canadian authorities said they would investigate the cause of the crash, which was not yet known. Passenger John Nelson posted a video of the aftermath on Facebook, showing a fire engine spraying water on the plane that was lying belly-up on the snow-covered tarmac. He later told CNN there was no indication of anything unusual before landing. "We hit the ground, and we were sideways, and then we were upside down," Nelson told the television network. "I was able to just unbuckle and sort of fall and push myself to the ground. And then some people were kind of hanging and needed some help being helped down, and others were able to get down on their own," he said. WEATHER CONDITIONS Toronto Pearson Airport said earlier on Monday it was dealing with high winds and frigid temperatures as airlines attempted to catch up with missed flights after a weekend snowstorm dumped more than 22 cm (8.6 inches) of snow at the airport. The Delta plane touched down in Toronto at 2:13 p.m. (1913 GMT) after an 86-minute flight and came to rest near the intersection of runway 23 and runway 15, FlightRadar24 data showed. The reported weather conditions at time of the crash indicated a "gusting crosswind and blowing snow," the flight tracking website said. Toronto Pearson Fire Chief Todd Aitken said late on Monday the runway was dry and there were no crosswind conditions, but several pilots Reuters spoke to who had seen videos of the incident pushed back against this comment. U.S. aviation safety expert and pilot John Cox said there was an average crosswind of 19 knots (22 mph) from the right as it was landing, but he noted this was an average, and gusts would go up and down. "It's gusty so they are constantly going to have to be making adjustments in the air speed, adjustments in the vertical profile and adjustments in the lateral profile," he said of the pilots, adding that "it's normal for what professional pilots do." Investigators would try to figure out why the right wing separated from the plane, Cox said. Michael J. McCormick, associate professor of air traffic management at Embry-Riddle Aeronautical University, said the upside-down position made the Toronto crash fairly unique. "But the fact that 80 people survived an event like this is a testament to the engineering and the technology, the regulatory background that would go into creating a system where somebody can actually survive something that not too long ago would have been fatal," he said. Three previous cases of planes flipping over on landing involved McDonnell Douglas's MD-11 model. In 2009, a FedEx freighter turned over on landing at Tokyo's Narita airport killing both pilots. In 1999, a China Airlines flight inverted at Hong Kong, killing three of 315 occupants. In 1997, another FedEx freighter flipped over at Newark with no fatalities. AIRPORT DELAYS Flights have resumed at Toronto Pearson, but airport president Deborah Flint said on Monday evening there would be some operational impact and delays over the next few days while two runways remained closed for the investigation. She attributed the absence of fatalities in part to the work of first responders at the airport. "We are very grateful that there is no loss of life and relatively minor injuries," she said at a press conference. The Transportation Safety Board of Canada (TSB) said it was deploying a team of investigators, and the U.S. National Transportation Safety Board said a team of investigators would assist Canada's TSB. Global aviation standards require a preliminary investigation report to be published within 30 days of an accident. Japan's Mitsubishi Heavy Industries (7011.T) , opens new tab, which closed a deal to buy the CRJ aircraft program from Bombardier in 2020, said it was aware of the incident and would fully cooperate with the investigation. The crash in Canada followed other recent crashes in North America. An Army helicopter collided with a CRJ-700 passenger jet in Washington, D.C., killing 67 people, while at least seven people died when a medical transport plane crashed in Philadelphia and 10 were killed in a passenger plane crash in Alaska. Sign up here. https://www.reuters.com/world/americas/crews-responding-plane-crash-toronto-pearson-airport-ctv-news-reports-2025-02-17/
2025-02-17 21:51
Feb 18 (Reuters) - A look at the day ahead in Asian markets. There's no shortage of market-moving news in Asia on Tuesday, with an Australian interest rate decision, China's tech boom and sizzling Japanese GDP figures front and center for investors, against a backdrop of unfolding geopolitical drama around U.S.-Europe relations and the Russia-Ukraine war. On the economic front, the main event locally will be the Reserve Bank of Australia's expected quarter-point cut to its cash rate to 4.10%, its first reduction in over four years. Easing inflation has opened the door for a rate-cutting cycle, but only a shallow one - money markets are pricing in only 50 basis points of additional easing this year after Tuesday's move. If the RBA does lower rates on Tuesday, it will be one of the last G10 central banks to do so. Norway's central bank hasn't started easing yet, while the Bank of Japan is raising rates. That cycle could accelerate, after figures on Monday showed Japan's economy grew at an annualized 2.8% pace in the October-December quarter, nearly three times faster than the consensus 1.0% in a Reuters poll. The highest forecast in the survey of 17 economists was 2.2%. The yen and Japanese Government Bond yields are on the rise. Recent inflation and wage growth data have also surprised to the upside, but the Bank of Japan will be cautious about raising rates after decades of deflation and ultra-loose policy. Two-year and 10-year JGB yields are already the highest since 2008 and have risen sharply in recent months, roughly doubling since September. These are big moves, and the impact on businesses, households and investors remains to be seen. The rebound in Chinese markets continues, meanwhile, with tech shares listed in Hong Kong hitting a three-year high on Monday as President Xi Jinping sat down with top tech leaders in Beijing. The Hang Seng tech index is up more than 30% in a month. The symbolism of Xi's rare meeting with tech leaders is powerful, reflecting policymakers' worries over the economy and China's technological development, and marks a sharp turnaround from the regulatory clampdown on tech four years ago. Shares in Baidu plunged on Monday, however, wiping $2.4 billion off its market value after the search engine giant's founder was not spotted at the meeting. These market moves, in their own ways seismic in nature, come against truly seismic geopolitical developments around America's ties with Europe and President Donald Trump's role in brokering a truce between Ukraine and Russia with Russian President Vladimir Putin. A peace deal - even a 'dirty deal that clearly favors Russia', in the words of Danske Bank - may boost risk appetite, and weigh on the dollar and oil in the short term. But the wider implications of a fracturing of 80 years of solid U.S.-European relations since World War Two could raise risk premia across markets in the long term. Here are key developments that could provide more direction to Asian markets on Tuesday: - Australian interest rate decision - Singapore budget (fiscal year 2025) - Hong Kong unemployment (January) Sign up here. https://www.reuters.com/markets/asia/global-markets-view-asia-graphics-2025-02-17/
2025-02-17 21:19
LA PAZ, Feb 17 (Reuters) - A bus crash in Bolivia on Monday killed at least 31 people and wounded over a dozen more, according to local police. The driver of the bus likely lost control of the vehicle, causing it to drop nearly 800 meters (2625 ft) off a precipice in the southwestern municipality of Yocalla, a police officer speaking from the local hospital said. Of those injured in the crash, 10 adults and four children had been hospitalized, with several in intensive care, an official from the hospital said in a video. The mountainous route is full of twists and turns, the police officer said, adding that the bus' speed could have been a factor in the crash. Sign up here. https://www.reuters.com/world/americas/bus-crash-bolivia-kills-over-30-people-2025-02-17/
2025-02-17 20:50
Milei recommended crypto coin that rapidly slumped Coin launched on same platform as $Trump meme coin Argentina's main stock index tumbles 5.6% Milei will continue to promote private projects, source says BUENOS AIRES, Feb 17 (Reuters) - An Argentine judge was assigned on Monday to investigate President Javier Milei's role in promoting a cryptocurrency that crashed, the latest shockwave from a scandal that has threatened to slow the libertarian leader's momentum. Milei late on Friday recommended the little-known crypto coin $LIBRA in a posting on X, kicking off a brief rally. He later deleted the posting and denied having any link to the cryptocurrency, which soon plunged. The country's fintech chamber said the case could amount to a "rug pull," a scam in which a coin's backers lure multiple investors, sending the cryptocurrency's value soaring, then quickly withdraw their funds, leaving investors with worthless tokens. Opposition lawmakers have said that Milei, whose tough austerity program has won plaudits from investors and made progress in taming rampant inflation, could face an impeachment trial over his actions. Argentina's benchmark S&P Merval (.MERV) , opens new tab stock index tumbled 5.6%. The investigation was assigned on a random basis to veteran Federal Judge Maria Servini after local media reported that more than 100 complaints were presented to Argentina's judiciary and several even to U.S. courts. "Milei's government is suffering the biggest reputational crisis of its government," consultancy Wise Capital said, noting that the token was now being labeled as a hoax. Observatorio del Derecho a la Ciudad, a local NGO, filed a lawsuit accusing Milei and other government officials of illicit association, fraud and breach of their duties as public officials. "We denounce Milei as being part of an illicit association that organized a scam with the $LIBRA cryptocurrency that simultaneously affected more than 40,000 people with a loss of more than $4 billion," it said on its website. MID-TERM MOMENTUM A government source said Milei himself was the fraud's biggest victim. "The only one on the face of this earth who was cheated is Milei," the source said, speaking on conditions of anonymity. "Javier promotes private projects all the time and will continue to do so." Milei's government has championed market deregulation and taking a chainsaw to red tape. The token was launched on a crypto exchange called Meteora, the same platform that launched the $Trump meme coin in January, a cryptocurrency that saw a rapid surge and slump in which an estimated 200,000 crypto wallets lost money. Meteora co-founder Ben Chow denied in a post on X on Saturday that his team had any role in launching $LIBRA, adding that the firm "never had any access to the tokens or to Milei." Chow added in a later post on Monday that the firm "had no involvement in the project at all beyond providing IT support, including commenting on the liquidity curve and helping verify the token's authenticity after the token was publicly launched." Analysts said the opposition is unlikely to garner the votes to push through an impeachment proceeding. An ongoing probe of Milei's involvement could sap his government's momentum heading into midterm elections this year, handing the opposition a lifeline. Some investors reacted on social media over the weekend in anger, saying they had been scammed out of their savings by the president of Argentina, while Milei's supporters defended him as the victim of politically motivated attacks. Milei himself came out swinging, accusing his enemies in another X post on Friday of trying to take advantage of the situation. "This increases our conviction to kick them in the ass," he added. Sign up here. https://www.reuters.com/world/americas/argentina-main-stock-index-falls-after-milei-crypto-scandal-2025-02-17/
2025-02-17 20:44
Supply chain issues and changing requirements cause delays Boeing faces over $2 billion in costs due to fixed-price contract Trump's involvement may lead to further Boeing challenges WEST PALM BEACH, Florida, Feb 17 (Reuters) - The Air Force One program may be further delayed until 2029 or years later, a senior administration official said, citing supply chain issues and changing requirements, after the White House said the project failed to deliver a new plane on time over the weekend. The delays are frustrating, but not much can be done to speed delivery, the official told Reuters, noting that Boeing faced problems getting components since some manufacturers had gone out of business. Some requirements for the aircraft had also changed, given evolving potential threats, the official said. Boeing referred questions about the schedule of the program, known as VC-25B, to the U.S. Air Force which was not immediately available for comment. "Clearly, the president would like the airplane earlier, and so we're working to see what could be done to accomplish that," Boeing CEO Kelly Ortberg told Reuters in January. The first aircraft was slated for delivery in December 2024, but Boeing has pushed its delivery off until at least 2027 or 2028 - towards the end of Trump's second term in office. Digital magazine Breaking Defense in December reported that the presidential aircraft program faced new delays that could push delivery of the first jet to 2029 or later. Asked about the report, the administration official acknowledged the fresh delays and the delay could stretch "years beyond" 2029. U.S. President Donald Trump has been deeply engaged with the program since his 2016 presidential campaign, extracting a promise from then-Boeing CEO Dennis Muilenburg to cap the program's cost at $4 billion. Those fixed-price contract terms, questioned by analysts at the time and finalized in 2018, have cost Boeing over $2 billion so far. Trump's renewed engagement could signal further problems for Boeing, whose current Ortberg said the company was meeting with Trump's billionaire cost-cutting ally Elon Musk to get the plane updated quicker, analysts said. "The president wants those planes sooner so we're working with Elon to see what can we do to pull up the schedule of those programs," Ortberg told CNBC on Jan. 28. Boeing leaders have said that production has been slowed by supply chain issues, high costs and the complexity of the planes that are intended to be an airborne White House. Trump waded back into the issue on Saturday when he toured a 12-year-old 747-8 aircraft at Palm Beach International Airport, near his Florida vacation home, to get a better understanding of the configuration of the two new presidential transport aircraft, according to the White House. The 747-8 aircraft Trump toured was formerly owned by Qatar but has since been rebuilt and now operates as a charter. “He saw how everything was configured. It’s a bigger space,” the official said, adding that the current Air Force One aircraft were relatively small. The new airplane would accommodate more people, including media, the official said. Sign up here. https://www.reuters.com/business/aerospace-defense/boeings-air-force-one-program-could-be-delayed-until-2029-or-later-senior-2025-02-17/
2025-02-17 19:52
WELLINGTON, Feb 18 (Reuters) - New Zealand's Fonterra Co-operative will increase payments to dairy farms with lower greenhouse gas emissions, with customers Nestle (NESN.S) , opens new tab and Mars giving bonuses to the lowest emitting farms, the companies said on Tuesday. Nearly half of New Zealand’s total greenhouse gas emissions come from agriculture, mainly methane from cows and sheep. While the government has wound back some agricultural regulations and ended plans to introduce emissions pricing in 2025, Fonterra continues to target a 30% reduction of emissions at its roughly 8,000 farms by 2030. From June 1, Fonterra will pay farms with emissions lower than the baseline levels in 2017/18 between 1 and 5 New Zealand cents on top of their expected payments, the companies' statement said. Fonterra is forecasting paying between NZ$9.50 and NZ$10.50 ($6.02) per kg of milk solids it buys in the 12 months to May 30 2025, according to a previous statement. Since 2021, Fonterra has paid farmers slightly more for milk produced on farms that meet sustainability standards. Mars and Nestle will add incentive payments to the best performing Fonterra dairy farmers. This is expected to benefit around 300 to 350 farmers with additional payments of 10 to 25 New Zealand cents per kg of milk solids, the statement said. There will also be new on-farm tools funded by the two companies that will help farms reduce emissions, the statement said. Dairy farmer Andrew Flay, who milks 390 cows on his farm in the central North Island, said he was pleased with the new incentives. “It’s great… it’s a carrot rather than a stick and it encourages farmers to be sustainable,” Flay said. “The sustainability aspect, the low emissions is something that I think everybody has to take on board, whether it's farming, dairy or industries.” In a related statement, Mars said it is investing $27 million over five years toward the payment programme and the emission-reducing technologies. It expects the project to reduce scope 3 emissions, or those in its supply chain, by over 150,000 metric tons by 2030 from its 2015 baseline. “We're really committed to making sure that we're driving our greenhouse gas reduction,” Amanda Davies, Mars Snacking’s chief R&D, Procurement and Sustainability officer. “Dairy is a really important part of that ... It's super important for us that we think about programs with farmers.” ($1 = 1.7434 New Zealand dollars) Sign up here. https://www.reuters.com/markets/commodities/new-zealands-fonterra-raise-milk-payouts-farmers-cutting-emissions-2025-02-17/
