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Americans are opting for lower-cost trims on entry-level vehicles as the cost of ownership is increasing.
Affordable cars are hot for American buyers. They haven't been so popular since the Gulf War, when gas prices soared and Japanese automakers seized market share with a simple offer: "fill it, forget about?it". The steep sticker price of new cars is forcing Americans to choose 'basic models over premium trims,' thereby increasing sales of entry level variants. Some 'automakers' have also adjusted production. The price of pickup trucks and crossovers has not deterred them from being the top sellers. According to Cox Automotive the average transaction price has been around $50,000 for almost a year. This puts many fully-loaded models out of reach. The pressure extends beyond showrooms. The rising costs of housing, healthcare, and insurance are increasing the pressure on lower-income families. President Donald Trump's tariffs have added to this. If you plan to keep your car for 10 years, why not get the minimum amount of options you'll use? "There's no need to buy the most powerful engine when you only plan to use it to commute to the office," said Sam Fiorani. Vice president of AutoForecast Solutions. The shift from entry-level trims to higher-end models isn't necessarily a bad thing for automakers. They are faster and cheaper to build. Although margins may be lower for premium models, increased volumes can help to shore up profits at a time when consumers are reducing their spending. Sales are showing the impact, according to automakers. Ford reported a decrease in overall U.S. Sales for January but that deliveries of the Maverick compact pickup's basic trim rose by 33.5%. Honda announced a similar shift in January, focusing on entry-level vehicles. David Whiston is an auto analyst for Morningstar. He said that affordability was still a major concern for automakers. This pushed companies like Honda and GM towards lower-cost products. Toyota's demand for its affordable models, such as the Corolla and Camry, was significantly higher in January, whereas sales of Lexus's premium sister brand, Lexus, fell. Stellantis said it had cut prices in the last two years to make them more affordable. It cited lower prices for Jeep SUVs, Ram pickups priced under $50,000, and entry-level Dodge, Chrysler, and Dodge?models. According to CarEdge, a marketplace and automotive data provider, the gap between the lowest trim and the highest trim now averages around $5,000. Chris Smith, 30, of Colorado owns a 2020?Tacoma?SR5 and cites reliability and lower costs as reasons for buying the base interior. Why pay more for less reliability? Most basic models come with enough tech onboard to satisfy most buyers, including an advanced infotainment system and driver assistance features. Even base models today are well-equipped. Fiorani says it's hard to find items such as vinyl seats, a roll-up window, or a manual transmission that used to be standard on base models.
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US forecaster predicts a La Nina transition to El Nino in early 2026
The U.S. Climate Prediction 'Center' said on Thursday that there is a 60% probability of a shift in the climate phenomena known as La Nina to?El Nino between February and April 2026. This pattern, also known as ENSO neutral, will likely persist throughout the summer in the Northern Hemisphere. Climate Prediction Center?said Thursday. The U.S. forecaster stated that "atmospheric abnormalities weakened due subseasonal variability but still reflected La Nina." "Low level westerly winds were present over western equatorial Pacific and upper level westerly winds continued across east-central equatorial Pacific." Why it's important La Nina is a part of the El Nino-Southern Oscillation climate cycle that affects the water temperatures in central and eastern Pacific Ocean. La Nina?can cause crops to be affected by drought and floods. When?ENSO neutral, water temperature stays around average, leading to better weather and possibly higher crop yields. KEY QUOTES Jason Nicholls is the lead international forecaster for AccuWeather. He said that neutral ENSO conditions will return in a couple of months. Nicholls said that "drought conditions are beginning to appear in some parts of southeast Australia. A transition to El Nino may worsen drought conditions, and cause problems for the next growing seasons." "With the transition out of La Nina, it should mean more rain in Argentina and less in north-central Brazil. If La Nina fades, there will be less rain in Southeast Asia as we move into the summer, said Donald Keeney - a Vaisala Weather agricultural meteorologist. CONTEXT Scientists predict that the Southern Hemisphere will experience even more extreme temperatures in the future. Climate change and La Nina weather patterns combined to cause catastrophic flooding in southern Africa late December and early January, resulting in the deaths of around 200 people. Japan's weather bureau reported on Tuesday that there is a 60% probability of El Nino occurring during the summer. There are 50% chances of it happening in the spring, and 50% of normal conditions continuing. Reporting by Pablo Sinha from Bengaluru. Jane Merriman edited the article.
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Steady Energy launches a pilot project for a small nuclear heat reactors in Finland
Steady Energy, a Finnish nuclear development company, has begun building a Helsinki pilot plant that will pave the path for Europe's earliest?small nuclear heating reactor. China, the U.S., and Canada are among several countries that are developing small modular reactors, which are more compact and faster to build than conventional nuclear reactors. Steady Energy aims, however, to produce nuclear power to?warm up homes via district heating systems. The company is building its shipping-container-sized 50-megawatt pilot ?plant to test the technology without loading nuclear fuel inside a decommissioned power ?and heat plant near the centre of Helsinki. Tommi Nyman, CEO of Tommi Nyman Energy Solutions said: "We are the first in Europe to have?small nuclear heating projects. Nyman stated that the company was aiming for a?low heat generation', which is easier to manage than nuclear energy production. It also plans to bury their final reactors under ground to ensure safety. Steady Energy and Helsinki's energy group Helen have partnered up to invest in new nuclear units in 2023. This is after Finland shut down its last coal-powered power plant last year. Helen Nuclear CEO PekkaTolonen said that the tendering process for plant suppliers includes a half-dozen Western plant providers, including those who produce heat only as well as those who generate electricity and heating. Steady Energy, a Finnish energy company, signed an agreement of cooperation with the Finnish utility Fortum earlier this month. Fortum also became a strategic shareholder in the company, alongside other investors such as Finnish Industry Investment and state-owned Finnish Industry. Nyman stated that the pilot plant has a budget of 20 million euros, while the final version nuclear would cost 100 million euros each unit.
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Russia's current-account surplus dropped 34% to $41.4 billion in 2025
The Russian central bank announced on Thursday that the country's 'current account surplus' had fallen by '34%' to $41.4 billion in '2025, from $62.6 billion last year. This was due to the Western sanctions as well as the lower oil price, which is the main source of income for the country. Exports fell while imports were relatively stable. The current account of a country is the difference between all money that comes in from trade, investments and transfers and what goes out. As a cause of the decline, the central?bank cited a growing deficit in services caused by an?increased importation of services. In 2025, Russia’s trade surplus was $116.7 billion, a drop of 11.7% compared to $132.1 billion. Exports declined significantly as a result of sanctions and low oil prices. Data from the central bank showed that Russia's exports in 2025 will total $419.4 Billion, down from the $433.6 Billion the previous year. This is because discounts on the Urals oil blend, the country's most popular oil blend, were still high compared to international benchmarks, and global oil prices were under pressure for much of the year due to a glut. T-Bank analysts in Moscow expect Russian exports will recover by 2026, as the country begins to tackle sanctions. According to their estimate, the Urals discount is expected to drop from $25 per barrel down $13-15 per barrel in the second half of this year. Reporting by Elena Fabrichnaya, Editing by Peter Graff
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European utilities fall on the talk of EU emission trading changes
By Danilo Masoni MILAN, February 12 - European utilities plunged on Thursday following a'sharp decline in carbon prices, after suggestions that the EU intervene in the markets, a move which?investors feared could squeeze the sector's earnings. Europe's benchmark "carbon" contract fell to its lowest levels since August, after leaders in countries such as Germany and Italy suggested that the European Union consider revising the bloc’s emissions trading system. Luca 'Moro is the CIO of SpesX - an Italian fund that focuses on energy transition. He said: "If this message gains traction, then those who have been speculating and?buying a green certificate are recognizing there could be a dilution in front." If CO2 credits fall, electricity prices will drop. Generators lose money when prices of power drop. The European utilities index fell by around 2% last year, reducing some of the gains made this year. The STOXX broader index rose by 0.4%. RWE in Germany, A2A and Enel in Italy, Fortum Finland, Verbund Austria and Orsted Denmark were among the worst performers, with all falling between 2.4% to 6.4%. In recent months, utilities and renewables stocks have been boosted by the expectation that they would benefit from a rise in power demand related to artificial intelligence infrastructure. However, the prospect of changes in emission rules could complicate the outlook. You have two forces at work: Deregulation tends?to push down power prices, while the?build-out of data-centres tends?to push them up. Moro said that the question is, which will win out first? LSEG data revealed that the benchmark EU carbon permit contract fell by?6.5% last year, to 73.35 Euro per metric tonne of CO2. The ETS is a key tool in EU climate policy. The ETS requires that industrial sites and power plants purchase CO2 permits to offset their emissions. It also caps the number of allowances available, which tightens over time in order to encourage reductions. (Reporting and editing by Dhara Raasinghe; Danilo Masoni)
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Coal India profit falls amid weak power-generation demand
Coal India, the state-run company that accounts for about three-quarters of the nation's output, reported a decline in its quarterly profit on Thursday as a result of a softer production due to lowered power demand. The miner, who primarily produces non-coking coal for power production and industries, reported a 15.8% drop in its net profit. Revenue from operations fell 5.2% to 349.24 billion rupees. According to analysts at Nuvama, India's total power consumption fell 0.4% during the third quarter. This was due to unexpected rains that occurred in October, and a cooler than usual weather. The coal-fired generation of power?increased by a steeper rate in October than it had since June 2020. In November, the output fell by 5.8% before rising 4.6% in December. Coal India’s average realisation for so-called electronic auction sales was 2,434.56 rupees?per ton. This is lower than 2,684.79 in the previous period. The average price of coal sold during the?quarter?fell by 29 rupees. The company sells its remaining output through long-term contracts to domestic customers, who pay a 10% discount on e-auctions. Shares in 'the state-owned company' closed 1% lower before the release of quarterly results.
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The UK's SFO examines 20 cases following the collapse of bribery proceedings
The Serious Fraud Office of Britain dropped charges against three people for alleged bribery committed in Sierra Leone and announced that it would be reviewing?potential?disclosure concerns in approximately 20 other cases. London Mining is the latest prosecution that has failed after the SFO was unable to provide relevant evidence to defence. In 2023, the SFO opened an investigation into former chief executive David Graeme Hossie (60), ex-CFO Rachel Rhodes (55), and former consultant Ariel Armon (57). The SFO required more time to review any evidence that might have been disclosed to the defense. Their trial was then delayed until January 2028. On Thursday, Esther 'Schutzer-Weissmann, the SFO's attorney said that "there is no longer a realistic chance of conviction", and Judge Christopher Hehir issued a formal directive not to?send out guilty verdicts. Hossie and Rhodes welcomed the decision. Armon stated that the decision demonstrates a "profound collapse" in the checks-and-balances system meant to ensure fair trials. Another problem for the SFO SFO, who had already identified a problem with its old disclosure system on Thursday, stated that it had discovered another issue where certain?material might not have been available to review. The SFO stated that "we recognise that although we haven't seen any proof, we must satisfy ourselves that?no relevant or disclosable materials were missed." Helen Taylor, from the campaign group Spotlight on Corruption, said that the failure of the case "raises questions about how disclosure problems were overlooked in previous reviews". The SFO is embarrassed by the conclusion of the 'London Mining Case. Its director, Nick Ephgrave, announced last month that he would be stepping down at the end March. He did not say why. In?2023, the?prosecution against former executives of security?company G4S was halted due to disclosure issues, as was a case brought in 2021 against two former employees of government contractor Serco. Ephgrave’s two-and a-half year tenure was marked with successes, including the acceleration of investigations and the decision to bring charges. (Reporting and editing by Barbara Lewis; Sam Tobin)
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Trump Administration set to repeal US climate regulation
On Thursday, the administration of Donald Trump plans to announce "the repeal" of a scientific conclusion that greenhouse gas emissions endanger human sanity. This will remove the legal basis of federal climate regulations. This is the biggest climate change policy rollback the administration has ever made. It follows a series of regulatory reductions and other actions designed to reduce the restrictions on fossil fuel development, and to stymie clean energy deployment. Trump believes that climate change is a hoax and has pulled the United States out of the Paris Agreement. This leaves the United States, the largest contributor historically to global warming, outside the international efforts to fight it. The United States adopted the so-called "endangerment" finding in 2009. This led the EPA, under the Clean Air Act of 1963, to take actions that would curb the emissions of methane and carbon dioxide from power plants, vehicles and other industries. Officials told the Wall Street Journal that the repeal of the law would remove the requirement to measure, report and certify federal greenhouse gas emission standards. However, it may not apply initially to stationary sources like power plants. I was not able to confirm these details. According to EPA data, the transportation and power industries are responsible for about a quarter each of U.S. emissions. Legal and regulatory uncertainty could be unleashed if the industry groups reverse the policy. Legal experts said that the policy reversal would, for example lead to an increase in "public nuisance" lawsuits. This path had been blocked by a Supreme Court ruling in 2011 that GHG regulation was best left in the hands of the Environmental Protection Agency. Robert Percival is a professor of environmental law at the University of Maryland. Environmental groups have called the repeal proposal a threat to the climate. The endangerment finding would likely need to be reinstated by future U.S. administrations if they want to regulate greenhouse gas emission. This could be a politically and legally difficult task. Reporting by Valerie Volcovic, Writing by Richard Valdmanis, Editing by Chizu nomiyama
Iran official: 2,000 killed in unrest
Official blames 'terrorists' for deaths
Protests are a result of a rotten economy
The biggest challenge for authorities in recent years
Elwely Elwelly
DUBAI, January?13, - An?Iranian Official?said that about 2,000 people, including security personnel, have been 'killed during protests in Iran. This is the first time the authorities have admitted the high death toll following an intensive crackdown after two weeks of unrest across the country.
Speaking to, the Iranian official said that what he referred to as 'terrorists' were responsible for both the deaths of protesters and security staff. The official didn't give any breakdown of the deaths.
The?unrest, caused by dire economic conditions has been the greatest internal challenge for Iranian?authorities in at least three year and comes amid increasing international pressure following Israeli?and U.S. attacks last year.
Iran's clerical authority, which has been in power since the 1979 Islamic Revolution began, has tried to adopt a dual-approach to the protests. They have called them legitimate, while also enforcing harsh security measures. They have accused the U.S., Israel and other countries of fomenting unrest. Unnamed individuals they label terrorists are also said to be behind the protests.
A rights group previously claimed that thousands of people had been arrested and hundreds had been killed.
Information flow has been hampered by recent restrictions in communications, including the internet blackout.
Video footage of violent clashes between demonstrators, security forces, and vehicles and buildings in the last week, which includes several videos that have been verified, shows gunfire, and buildings and cars on fire.
(source: Reuters)