Eni Sees Lower Cash Flow, Maintains Buyback by Cutting Costs
Eni SpA reduced its outlook for free cash flow this year following the oil price slump triggered by global trade tensions, but signaled no impact on its share buybacks as it took action to reduce spending.
The Italian company is the first major oil and gas producer to report first-quarter results, and analysts including RBC's Biraj Borkhataria also expect Eni's peers to review their plans for buybacks and other spending after the price of a barrel of crude plunged into the $60s.
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Miami Herald
5 hours ago
- Miami Herald
Italy's ‘Ultra Fast' Hyperloop Train Reaches Major Milestone
One of Italy's most ambitious transportation projects is set to begin testing after passing its feasibility study. The Hyper Transfer hyperloop project, on which research first began in 2013, will commence construction work on a test track in Veneto, spanning 10 kilometers (about six miles) between Padua and Venice. The hyperloop project is designed to transport passengers and cargo at record speeds of up to 1,200 kilometers per hour, thanks to the use of magnetic levitation through vacuums. The vacuum means there is no air resistance on the front of the vehicle, allowing transport tubes to move at very high speeds. The technology has been tested in various parts of the world, including India, but the construction of a test site in Italy would be a major breakthrough for the concept in Europe. The hyperloop project has completed its feasibility study phase, with Luca Zaia, the president of the Veneto region, announcing that the test track would be built in his area. Zaia told the Transportation Logistics Fair in Munich this week: "It is not a futuristic vision but a concrete project born in Veneto...A revolutionary technology, strongly desired by the Veneto Region, which is now entering its operational phase." A consortium of four companies is managing the project: HyperloopTT, a Los Angeles-based technology provider and designer; Webuild, Italy's largest engineering contractor; Leonardo, a multinational aerospace and defense monitor; and Hyperloop Italia, the body that licenses the infrastructure. The test track will occupy a 10-kilometer stretch of land. It will be designed to carry both passengers and cargo, allowing the loop's safety systems and energy management technology to be properly tested. HyperloopTT CEO Andrés de Leónsaid in a statement to Newsweek: "This is the moment HyperloopTT has been working towards since 2013. We thank the Italian government, the Veneto region, and CAV for their vision and commitment to sustainable innovation. "We've partnered with some of the best engineering and transportation companies in the world, all with deep roots in the region. We look forward to bringing this first of many hyperloop systems to the world." HyperloopTT COO Andrea La Mendola said: "Italy has always been a cradle of creativity, innovation, and progress, from the artistic brilliance of the Renaissance to the engineering prowess behind their high-speed trains. Today, we stand at the dawn of a new era, poised to redefine mobility once again with the 'Hyper Transfer' project. "This hyperloop system is not just about connecting Venice and Padua in record time; it is a testament to Italy's unwavering spirit of innovation and their commitment to sustainable and efficient transport." The testing process is expected to take several years, although engineers hope that parts of the infrastructure will be operational by 2030. Related Articles How to Watch Norway vs Italy: Live Stream FIFA World Cup Qualifiers, TV ChannelAmerican's Trip to Italy Leads to Shocking Revelation About US: 'So Much Resentment'Mount Etna Erupts: Watch Live Feed of June 2 EruptionRule Change Hits Americans Seeking Italian Citizenship: 'Real Gut Punch' 2025 NEWSWEEK DIGITAL LLC.
Miami Herald
6 hours ago
- Miami Herald
Something Bold Is Coming From Alfa Romeo: New Stelvio Coming?
Alfa Romeo, like Maserati, isn't in a good place right now. The Stellantis-led marque is in dire need of a turnaround plan with the world's fifth-largest automaker confirming that a major strategy review is in the pipeline for the Italian marques, spearheaded by a new CEO. Wasting no time putting that plan into action, Alfa Romeo has announced a big reveal is set to take place on June 10, 2025, at 4:30 PM CEST (10:30 AM EDT) with the following post shared on it social media accounts: "A new chapter is about to begin. Bold, unexpected, unmistakably Alfa Romeo." So, what is the premium Italian brand cooking? It's no secret that Alfa Romeo is working on the next-generation Stelvio, its best-selling model. Despite being hit by an issue concerning the switch to a hybrid powertrain, the timing's just right. The eight-year-old Stelvio is aging, and the automaker needs to entice fans with a new model. The next-gen Stelvio will use Stellantis' STLA Large platform, which underpins the unpopular Dodge Charger Daytona EV – an architecture flexible enough to cater to both pure EV and hybrid setups. The switch from the previous all-electric powertrain plan to hybrid isn't as easy as flicking a switch, though. That said, we don't expect any powertrain details if this is indeed the new Stelvio, only a look at its new design, which was recently shared via the following patent images. But if it's not a new model, then what else could the teaser be referring to? As you can see in the single teaser provided, the imagery shows the Alfa Romeo badge with a glowing red equilateral triangle. Alfanatics will recognize the triangle from Autodelta, Alfa Romeo's historic racing division. Could Alfa Romeo be about to announce a return to motorsport? Or could it be ready to launch a performance model that harkens to classic Alfas that Autodelta worked on. Whatever Alfa Romeo's planning, we only have a couple of days to find out. So stay tuned. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Newsweek
11 hours ago
- Newsweek
Italy's 'Ultra Fast' Hyperloop Train Reaches Major Milestone
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. One of Italy's most ambitious transportation projects is set to begin testing after passing its feasibility study. The Hyper Transfer hyperloop project, on which research first began in 2013, will commence construction work on a test track in Veneto, spanning 10 kilometers (about six miles) between Padua and Venice. Why It Matters The hyperloop project is designed to transport passengers and cargo at record speeds of up to 1,200 kilometers per hour, thanks to the use of magnetic levitation through vacuums. The vacuum means there is no air resistance on the front of the vehicle, allowing transport tubes to move at very high speeds. The technology has been tested in various parts of the world, including India, but the construction of a test site in Italy would be a major breakthrough for the concept in Europe. What To Know The hyperloop project has completed its feasibility study phase, with Luca Zaia, the president of the Veneto region, announcing that the test track would be built in his area. Zaia told the Transportation Logistics Fair in Munich this week: "It is not a futuristic vision but a concrete project born in Veneto...A revolutionary technology, strongly desired by the Veneto Region, which is now entering its operational phase." A consortium of four companies is managing the project: HyperloopTT, a Los Angeles-based technology provider and designer; Webuild, Italy's largest engineering contractor; Leonardo, a multinational aerospace and defense monitor; and Hyperloop Italia, the body that licenses the infrastructure. Rendering of Italy's Hyper Transfer project from HyperloopTT, one of the companies working on the technology. Rendering of Italy's Hyper Transfer project from HyperloopTT, one of the companies working on the technology. HyperloopTT The test track will occupy a 10-kilometer stretch of land. It will be designed to carry both passengers and cargo, allowing the loop's safety systems and energy management technology to be properly tested. What People Are Saying HyperloopTT CEO Andrés de León said in a statement to Newsweek: "This is the moment HyperloopTT has been working towards since 2013. We thank the Italian government, the Veneto region, and CAV for their vision and commitment to sustainable innovation. "We've partnered with some of the best engineering and transportation companies in the world, all with deep roots in the region. We look forward to bringing this first of many hyperloop systems to the world." HyperloopTT COO Andrea La Mendola said: "Italy has always been a cradle of creativity, innovation, and progress, from the artistic brilliance of the Renaissance to the engineering prowess behind their high-speed trains. Today, we stand at the dawn of a new era, poised to redefine mobility once again with the 'Hyper Transfer' project. "This hyperloop system is not just about connecting Venice and Padua in record time; it is a testament to Italy's unwavering spirit of innovation and their commitment to sustainable and efficient transport." What Happens Next The testing process is expected to take several years, although engineers hope that parts of the infrastructure will be operational by 2030.
