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As heavy rains strike northeastern Brazil, at least six people are dead and thousands of others have been displaced.
The federal government announced on Saturday that heavy rains have caused tens of thousands to be displaced in the states of Pernambuco, and Paraiba. Pernambuco experienced flooding and landslides due to heavy rainfall in Recife, the capital of the state, and surrounding areas. Two people were killed in Recife, and two more in the neighboring town of?Olinda. Around 1,500 people were left homeless or displaced. According to the Integration and Regional Development Ministry of Brazil, in 'Paraiba two people were killed and 1,800 left homeless or displaced. The worst affected cities included Conde, Joao Pessoa, and Campina Grande. The National Center for Risk and Disaster Management sent out 22 alerts in the midst of the rainy season. The 'operational level has been raised to maximum alert due to the impacts in Pernambuco, Paraiba, and the weather forecasts for the region," said the'ministry. Although the rain has stopped and conditions are improving, it is still important to remain vigilant throughout Saturday. Luiz 'Inacio Lula Da Silva, President of the Republic of Brazil, said that he spoke with local authorities and offered his support. "The government continues monitoring?the situation in order to provide all the necessary assistance," he said.
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Berkshire CEO Abel: 'We're back at first base'
Greg Abel, CEO of Berkshire Hathaway, welcomed on Saturday a recent court ruling that could limit liability at its PacifiCorp Utility business. The company is defending against lawsuits related to wildfires in Oregon and northern California. Abel, speaking at Berkshire Hathaway's annual shareholders meeting in Omaha Nebraska, said that the Oregon state court decision on April 8, stating that a major wildfire case cannot proceed as a mass action, relieves PacifiCorp of pressure as it attempts to convince regulators to allow it to charge enough for power. He said that the threat had been reduced. PacifiCorp is defending itself against a lawsuit over a number of?wildfires? in Oregon and California. Among them, several victims have blamed the company for failing to turn off power lines at a windstorm that occurred during Labor Day weekend 2020. A 2023 Oregon jury found PacifiCorp grossly negligence, potentially exposing the Portland utility to liability of tens or even hundreds of millions of dollars in future damages trials. PacifiCorp said that it faced claims of up to $55 billion in the past. The Oregon appeals court ruled that the trial judge had erred by instructing the jury to assume that PacifiCorp was guilty of wrongful conduct for all fire victims. Prior to that decision, 171 Plaintiffs were awarded approximately $1.1 billion during a series "mini-trials", which began in January 2024. The trials were expected to continue until 2028. Abel said: "They told me to go back to the beginning and start again." PacifiCorp is working with several Western?U.S. States should cap their liability for wildfires and create state-administered funds to compensate victims. Utility companies like PacifiCorp believe that this arrangement offers them a safety net, allowing them to invest in grid infrastructure and maintenance without worrying about indeterminate litigation straining their liquidity. Abel stated that PacifiCorp wants to create a "regulatory contract" in which it could charge enough for customers to justify spending on infrastructure without taking excessive risks, but is met with resistance from politicians and regulators who don't want to see rates go up. California has increased its wildfire fund to $18 billion after multiple fires ravaged parts of the Los Angeles region in January 2025. Abel called Utah's protections that allow large utilities to surcharge their customers and limit liability for some claims the "gold standards." Oregon, in particular, has not yet followed. Berkshire Hathaway Energy is the immediate parent of PacifiCorp. Berkshire purchased the utility in 2006 for $5.1 billion. Reporting by Jonathan Stempel, Omaha, Nebraska. Editing by Colin Barr and Sharon Singleton.
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Thyssenkrupp and Jindal agree on a halt to the sale of a steel unit
Thyssenkrupp announced on Saturday that it had 'paused' talks with India's Jindal Steel International about a potential'sale' of the 'German industrial group's' steel unit. This is a setback to CEO Miguel Lopez’s restructuring efforts. Reports in March indicated that discussions may be canceled due to disagreements over pension liabilities, investments, and energy costs. Four people who are familiar with the issue were cited. Jindal Steel International made a bid indicative?for Thyssenkrupp Steel Europe in the past year. This led to months of due diligence, and negotiations on a possible purchase of Europe's?second-largest steelmaker. Thyssenkrupp stated that "the?original assumptions, and prerequisites of a possible sale of Thyssenkrupp Steel... have changed significantly in recent months," adding that it was a mutual decision to stop the talks. The EU's safeguard measures have boosted Europe's steel industry, protecting it from cheap Asian imports. Analysts say that the steel industry is set to rebound, and the first quarter 2026 may'represent an inflection-point,' pointing out a rise in the price of steel on the continent. (Reporting and Editing by William Maclean, Keith Weir and Keith Maclean)
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China's Commerce Ministry blocks US Sanctions against Five Refineries
According to Xinhua, the Chinese Ministry of Commerce announced on 'Saturday that it had issued a?injunction against U.S. sanctions imposed upon?five Chinese refining companies accused of allegedly buying Iranian oil. The Ministry named the five refineries as Hengli Petrochemical Refinery (Dalian), and so-called 'teapots' Shandong Jincheng Petrochemical Group Hebei Xinhai Chemical Group Shouguang Luqing Petrochemical, and Shandong Shengxing Chemical. The U.S. Treasury imposed sanctions in April on Hengli Petrochemical accusing the company of purchasing?billions in dollars of Iranian oil. This was an increase in Washington's ongoing effort to 'curb Tehran's revenue from oil. The Trump administration,?last year, imposed?sanctions against the other four refineries that were named by the Ministry. The ministry stated that the U.S. sanctions are in violation of "international law and basic norms" of international relations. The ministry said that it had issued an injunction as a result. The Ministry of Foreign Affairs stated that "the injunction specifies that the United States can't recognize, implement or comply with sanctions imposed on?the above?five Chinese firms." The sanctions caused some difficulties for the refiners, such as difficulty receiving crude oil and having to sell refined products with different names. Teapots make up a quarter of Chinese refinery capacity, but they operate at narrow margins - and sometimes even negative ones - due to a tepid demand.
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Washington Hilton attack highlights hotel industry's costly and nagging security issue
The suspect accused of storming a checkpoint on Saturday and firing a gun near the White House Correspondents' Association Dinner mocked the security measures at Washington Hilton that allowed him to be so close to Donald Trump. In a manifesto written before the attack, the hotel guest Cole Allen, identified by law as a 31-year-old man, wrote: "I expected surveillance cameras everywhere, bugged rooms, armed officers every 10 feet and metal detectors to the roof." "What I got," Allen added, "is absolutely nothing." Allen's attack has 'heightened a problem that the hotel industry has been facing for decades: how to maintain a warm and welcoming atmosphere while tightening security. Some security companies are now offering AI-powered monitoring systems, but hotels are reluctant to use anything that might increase costs or invade the privacy of their guests. Security will continue to improve as technology continues to identify strange behavior. "At the end of it all, this is a hospitality industry where the customers must feel welcomed," said Nicolas Graf a professor at New York University. Allen then moved up the building, before charging the checkpoint located on the floor above the dining room where Trump and 2,600 journalists were having dinner with government officials. Trump and his guests were able to escape safely, but this breach shows that the real risks at events like these are inside the hotels. Hotel attackers exploit the same vulnerabilities repeatedly: multiple entry points, guests arriving all hours of the day, uneven screening and blurred boundaries between public and protected areas. Morgan Stevens is the senior vice president of global security operations for Crisis24. She noted that not every guest is screened in the same way. Hotels need to increase security in order to save lives but they also have to be careful with their expenditure. The top nine hotels, casinos and resorts by revenue are expected to generate about $102 billion between 2025 and 2025. However, margins have been squeezed in recent years. Washington Hilton Hotel said that it operated under "stringent Secret Service protocols" after the attack. Hilton Worldwide Holdings refused to comment on this story. However, the steps taken after the attack Saturday were familiar. The hotel was sealed off by law enforcement. Investigators traced the suspect’s steps. Experts in security debated whether anything could have been done better. Allen was accused of attempted assassination and discharging a gun during a violent crime, and illegally transporting firearms and ammunition across state lines. He had taken a train to his hometown in California. He hasn't yet entered a guilty plea. Hard to Secure Hotel rooms are rarely closed for major events, but access is restricted by separate elevators and restricted floors. Experts say that it usually takes a few days or a week to prepare a hotel for a big event. Security teams carry out site surveys, create credential systems and divide the hotel into controlled zones. Other guests can still enter the lobbies and restaurants, as well as the guest floors, alongside those who have been screened. They said that this creates insurmountable security gaps. A spokesperson for the American Hotel and Lodging Association said that hotels employ a multi-layered approach to safety and protection. The spokesperson stated that precautions include trained personnel, surveillance systems and access control, as well as coordination with law enforcement. Robert McDonald, assistant Professor at the University of New Haven, and retired supervisory Secret Service Agent, said that the agency usually works with hotel security, the local police, and the White House administration in order to develop a plan for security rather than shutting down hotels outright. The latest incident has shaken confidence in this model. Trump claimed that the hotel "was not a particularly safe building." Reports said that U.S. officials were reassessing the security of the Washington Hilton. President Ronald Reagan had been shot outside the hotel by John Hinckley in 1981, prompting some to call it the "Hinckley Hilton." McDonald stated that after the shooting, the Hilton installed a garage that allowed presidential motorcades access to the building. It also increased the use of magnetometers, as well as tightened press controls. Other major hotel attacks around the world have led to a change in security. The 2008 attack on the Taj Mahal Palace Hotel, Mumbai, that left 31 people dead in the hotel was a turning point. Graf, from NYU, said that "the industry has improved significantly" since the Mumbai attacks. A man who shot out of the window from a 32nd floor suite in the Mandalay Bay Hotel in Las Vegas in 2017 killed 58 people at a concert nearby. It was the deadliest mass killing in U.S. History. Many more people were injured. Costly Security Upgrades Experts say that implementing AI-powered weapon detection in hotels would be expensive and complex. In December 2024, shortly before the murder of UnitedHealthcare CEO Brian Thompson in front of a Hilton hotel in Midtown Manhattan by a gang of terrorists, AI security company Xtract One received a request from the chief security officer for a major hotel 'chain regarding its weapons detection system. No rollout has yet taken place. Peter Evans, CEO of?XtractOne, said that the problem is complex and cannot be solved by a single device. He noted the large number of people, the multiple entrances and the wide variety of luggage that moved through large hotels. Evans noted that interest has increased in certain international markets. This is especially true in Mexico, where cartel violence and fear of travel have hurt revenues. Anthony Varchetto said that hotels allocate resources to external threats, while underestimating the risks posed by guests. He said that this is a common mistake. "People become complacent and understaff. A lot of this comes down to the budget."
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Mainichi reports that Japan's Taiyo Oil will receive cargoes of oil from Russia’s Sakhalin-2.
The Mainichi?daily?reported?on?Saturday, citing Japan’s Ministry of Economy, Trade and Industry. After the invasion of Ukraine by Russia in 2022, Japan has stopped buying oil from Russia. A?U.S. The Sakhalin-2 Project, which produces?mostly liquefied gas, is exempt from U.S. Tokyo is looking for alternative oil sources after the U.S. Israel war against Iran has largely cut off imports from the Gulf. The Gulf was Tokyo's primary oil source until the Middle East conflict began in late February. Gazprom, the Russian state-owned gas company, is the controlling shareholder of?Sakhalin-2 Oil and Gas Project. Mitsui & Mitsubishi are also shareholders. Mainichi, citing an official from METI, reported that cargo is set to arrive in the Ehime Prefecture, located in western Japan. Japan has also obtained supplies from the U.S., and other destinations that bypassed the Strait of Hormuz. METI and Taiyo Oil did not respond to a request for comment immediately.
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Japan and Vietnam look to deepen partnership in energy and minerals
Sanae Takaichi, the Japanese Prime Minister, pledged on Saturday to strengthen bilateral relations with Vietnam. Energy?cooperation, and vital minerals were at the forefront of his commitments, during a?meeting with Vietnamese Prime Minister Le Minh Hung. According to Vietnamese government data and customs, the pledge was made as "new" Japanese investment in Vietnam dropped 75% on an annual basis to $233 millions in the first three months, while bilateral trade grew 12.3%, to $13.7 billion, over the same time period. The two leaders discussed how to deepen the Comprehensive Strategic Partnership, established in?2023, with a focus on energy, critical mineral, artificial intelligence and semiconductors, as well as space. After the meeting, Takaichi informed reporters that "the two sides have identified economic security as a priority area of bilateral cooperation". She added, "With regards to critical minerals... both parties agreed to strengthen their close coordination in order to ensure stable supply and strengthen supply chains." Vietnam and Japan have signed six agreements in a joint effort that covers infrastructure, agriculture, digitalisation, technology and climate action. Japan is still one of Vietnam's biggest foreign investors. Many Japanese multinationals have large manufacturing plants in the country. Vietnam is seeking assistance from Japan and other nations for oil supply as conflict in the Middle East drives prices up and disrupts supply chain. Hung stated that under the Power Asia Initiative, which is a $10 billion initiative to "support Asian countries in their energy independence", Japan will help arrange crude oil supplies for Vietnam’s Nghi Son Petrochemical Complex and Refinery. Takaichi is also scheduled to meet Vietnam’s Party Secretary and president To Lam on Saturday afternoon. He will also deliver a key note speech at Vietnam National University. This marks a decade since Shinzo Abe, Japan's former prime minister, introduced the "Free and Open Indo-Pacific Strategy". Her speech is expected to focus on?autonomy for regional nations and resilience. Hung stated that Vietnam supported Japan's regional initiative, the Free and Open Indo-Pacific Vision. This vision is aligned to?the ASEAN Outlook for the Indo-Pacific?, and is in accordance with international laws. It also "contributes positively" to peace, stability and cooperation, as well as development, throughout the Indo-Pacific region.
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Takaichi, the Japanese PM, will meet with Vietnamese leaders in Hanoi
Sanae Takaichi, the Japanese prime minister, will meet To Lam, the leader of Vietnam in Hanoi on Saturday. The two countries are trying to strengthen ties in light of a sharp decline in Japanese investment in Vietnam. A Japanese official in the foreign ministry said that both sides will discuss ways to strengthen a Comprehensive Strategic Partnership, established in 2023. The focus of their discussion is on energy, technology and critical minerals, as well as regional stability. Japan is still one of Vietnam's biggest foreign investors.?Many Japanese multinationals operate large manufacturing facilities throughout the country. According to data from the Vietnamese government, new Japanese investment pledges fell by 75% in the first three months of this year, falling to $233 millions. The official stated that Takaichi will discuss with Vietnamese companies the difficulties they face, such as delayed payments for completed work and difficulty gaining access to major infrastructure projects. Last year, Japan announced that it was withdrawing from a nuclear project in?Vietnam due to an excessively strict construction schedule. Days before the trip, Hanoi announced that it would reconsider a ban of?petrol powered motorcycles within its city center, a policy which had been criticized by Honda. According to Vietnamese customs data, despite investment concerns, the bilateral trade has been strong. It grew 12.3% compared to a year ago to $13.7 billion in the first three months. Takaichi will also meet with her Vietnamese counterpart Le Minh Hung and deliver a speech on 'the evolution of Japan's 'Free and Open Indo-Pacific Strategy" at the Vietnam National University before heading to Australia. Reporting by Khanh Vu and Tamiyuki in Tokyo, editing by Tom Hogue.
Rooftop solar fever cools in warm Spain
The variety of Spaniards Setting up solar panels on their homes fell last year, the decline since 2018 as the impact of aids faded, while the outlook for this year is steady.
Analysts stated lower energy costs and the capture on household budgets brought on by inflation had started to sap interest for solar across Europe, but the impact is particularly marked in Spain, a relatively immature market for roof solar.
Nearly 112,000 Spanish households established solar power installations in 2023, roughly half the record level of 2022, according to eco-friendly lobby APPA.
One of Europe's sunniest countries and a leader in renewable energy, Spain lags other countries in this sector, especially Europe's solar leader Germany.
It began to capture up after Spain in 2018 scrapped an out of favor levy, referred to as the sun tax, as part of steps to lower electrical power bills. The charge on solar power impacted families and small companies.
Christophe Lits, a market expert at European market association SolarPower Europe, said demand had fallen particularly dramatically in Spain due to the fact that the marketplace was less fully grown and would fluctuate more due to external shocks.
Madrid earmarked more than 2 billion euros ($ 2.16 billion). of European Union post-pandemic recovery funds for solar. setups, energy storage and domestic renewable heating. systems. In addition, numerous regional authorities offer solar panel. tax breaks.
We had in 2022 a market doped with subsidies, the war in. Ukraine and market instability, Javier Dominguez, technical. director at Spanish renewable resource systems firm Cambio. Energetico stated. In 2023 there was a hangover from that.
Lucia Varela, director of self-consumption and energy. neighborhoods at solar market group UNEF, stated a decrease in. demand from homes had been expected when people stopped. perceiving energy costs as high as they did throughout the rate. shock of 2022 brought on by the market disturbance connected to Russia's. war on Ukraine.
For the industry, however, she stated the extent of the. decrease in installations on people's homes was worrying and it. might have to look more to brand-new types of setups, serving. groups of neighborhoods or homes.
The commercial sector also installed less solar in 2023,. though the decline was smaller sized. Overall, some 1.9 gigawatts (GW). of capacity was included, 27% less than in 2022 but well above the. 2021 efficiency, APPA figures show.
PLAYING CATCH UP
Spain's total set up solar roof capability at the end of. in 2015 was a fifth of Germany's and approximately half of Italy's,. SolarPower Europe data shows.
The sector is 15 years behind due to the sun tax,. Christopher Cederskog, president of solar supplier. Sunhero, stated.
He also said delays in subsidy payments had damaged public. perception of the sector.
The risk is, he stated, that the poorest who would benefit. most from cheaper energy, feel not able to run the risk of the preliminary. investment.
An average domestic system expenses around 7,000 euros,. according to APPA. Based on last year's energy prices, such. investment would be recovered in 7 years' time even without. federal government support.
Typical waiting times for aids are around a year,. Varela of UNEF approximated, and in some cases closer to 2.
The energy ministry transfers funds to the local. governments to execute the plan, which must abide by. rigorous European Commission rules, a representative said, adding. about 44% of the designated funds have actually been disbursed.
Maria Diaz Fernandez, a 43-year-old primary school teacher,. invested around 6,400 euros installing 10 photovoltaic panels on her home. in Toledo, main Spain, in November. She stated she is waiting. for the subsidies that she hoped would cover 40% of the cost.
Her brother or sisters, who installed their systems nearly a year. previously, were also still waiting.
BRILLIANT FUTURE?
The energy ministry representative, however, said the. federal government's track record on solar was strong as it not just. cancelled the sun tax, but had enhanced the regulative. framework, including the market had actually grown 14-fold because 2018.
Jon Macias, president of APPA's prosumer branch, was. upbeat, pointing out Spain's continued capacity for development as only 7%. of single-family homes and 2% of services in Spain get their. energy from their own photovoltaic panels.
He anticipates setups this year will be constant with last. year's and stated Spain was on track to reach a 2030 target of 19. gigawatts (GW) of setups on homes and company-owned. buildings. The objective would represent fitting photovoltaic panels to. more than 4 million average homes.
Some, however, state modification is needed to guarantee Spain brings. on installing photovoltaic panels.
With approximately two-thirds of Spaniards residing in house. blocks, numerous in the sector state the future lies in shared. tasks, in which photovoltaic panels would provide energy to group of. customers rather than a single family.
Such setups account for 1% of the marketplace and face. difficulties, not least cultural ones.
Spaniards are used to consuming energy, not producing it,. Eugenio Garcia-Calderon, cofounder of solar energy company. Comunidad Solar, stated.
(source: Reuters)