Passengers queue to check in at the departure hall of Terminal 5 at London Heathrow Airport in London on June 13, 2022. (Photo: Bloomberg) A wave of airline strikes and flight cancellations is deepening Europe’s transport crisis, disrupting travel plans just as the region’s peak summer season gets under way. Walkouts in coming days at Ryanair Holdings Plc, EasyJet Plc, British Airways and Aeroports de Paris (ADP) will add to the turmoil from staffing shortages that are leading to hours-long delays and thousands of scrapped flights. In the United Kingdom, the transport disarray has been compounded by a rail strike. Although travel demand has rebounded dramatically in Europe, what had been touted as the aviation industry’s long-awaited post-pandemic revival is being constrained by labour strife and limits in airport logistics. Chaotic scenes are playing out at airports in Amsterdam, London, Frankfurt and Paris, with lines of people waiting for hours only to be told their flights … [Read more...] about Europe’s travel woes deepen as strikes add to scrapped flights
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Denso May Consider Spinning Off Chip Business, Bloomberg Says, Citing Executive
Denso Corp may consider spinning off its chip business, a top executive of the major Japanese maker of semiconductors used in automobiles and a main supplier to Toyota Motor Corp told Bloomberg News on Friday. "We need to think about whether the time will come when we sell semiconductors, alone, externally," Bloomberg quoted Denso's chief technology officer, Yoshifumi Kato, as saying in an interview. Nothing had been decided on a split and the company's focus for now was on meeting internal chip demand, Bloomberg cited Kato as saying. Denso is not considering spinning off the semiconductor business at this moment, a company spokesperson said. Kato said last week the company expected demand for auto chips to be about a third higher by 2025 than it was in 2020, as the key component was increasingly used in fossil-fuel cars, electric vehicles and autonomous drive technology. A global chip shortage has plagued companies from smartphone makers to consumer electronics firms and … [Read more...] about Denso May Consider Spinning Off Chip Business, Bloomberg Says, Citing Executive
Russia Limits Exports Of Noble Gases, A Key Ingredient For Making Chips
Sanctions-hit Russia has limited exports of noble gases such as neon, a key ingredient for making chips, until the end of 2022 to strengthen its market position, its trade ministry said on Thursday. Russia's export curbs could worsen the supply crunch in the global chips market. Ukraine was one of the world's largest suppliers of noble gases until it suspended production at its plants in the cities of Mariupol and Odesa in March. Exports of noble gases, which Russia used to supply to Japan and other countries, will be allowed only with special state permission until Dec. 31, the Russian government said on May 30. The move will provide an opportunity to "rearrange those chains that have now been broken and build new ones," Deputy Trade Minister Vasily Shpak told Reuters via the ministry's press service on Thursday. Russia accounts for 30% of the global supply of three noble gases - neon, krypton and xenon, according to the ministry's estimate. Taiwan, the world's leading … [Read more...] about Russia Limits Exports Of Noble Gases, A Key Ingredient For Making Chips
Oil Falls Around 3% As Investors Eye U.S. Fed Rate Hikes
Oil prices tumbled around 3% on Wednesday as investors worried that rate hikes by the Federal Reserve could push the U.S. economy into recession, dampening demand for fuel. Brent crude futures fell $2.91, or 2.5%, to settle at $111.74 a barrel. The global benchmark hit a session low of $107.03, its lowest since May 19. U.S. West Texas Intermediate (WTI) fell $3.33, or 3%, to settle at $106.19 a barrel. The session low was $101.53, its lowest since May 11. Investors assessed on Wednesday how interest rate hikes designed to cool soaring inflation might stall an economic recovery. Oil prices pared losses, however, during the session after Fed Chair Jerome Powell pledged an "overarching focus" on bringing down inflation and reiterated that ongoing increases in the central bank's policy rate would be appropriate, with the pace depending on the economic outlook. "Powell seemed to change the mood of the market by seeming confident about the U.S. economy," said Phil Flynn, analyst at … [Read more...] about Oil Falls Around 3% As Investors Eye U.S. Fed Rate Hikes
Govt Issues Notification For ‘Bharat New Car Assessment Programme’
As per the notification dated 24th June 2022, Bharat New Car Assessment Programme rating will provide consumers with an indication of the level of protection offered to occupants by evaluating the vehicle in the areas of (a) Adult Occupant Protection (AOP) (b) Child Occupant Protection (COP) and (c) Safety Assist Technologies (SAT). The vehicle shall be assigned a star rating from one to five stars, based on scoring against various tests undertaken as per the Automotive Industry Standard (AIS) 197. Also Read: Nitin Gadkari Approves Bharat NCAP; Cars In India To Get Safety Rating Based On Crash Tests With the issuance of the notification, the government has inserted a new rule 126E in CMVR (Central Motor Vehicles Rules), 1989 regarding the Bharat New Car Assessment Programme (BNCAP), the Ministry of Road Transport & Highways said in a statement on Saturday. The new rule is applicable on Type Approved motor vehicles of category M1 [motor vehicles used for the carriage of … [Read more...] about Govt Issues Notification For ‘Bharat New Car Assessment Programme’