One Cycling project not included in next season's UCI calendar
June 12 (Reuters) - The UCI opted not to include the One Cycling project when it launched its World Tour and Women's World Tour calendars for 2026 on Thursday, with the governing body saying it was incompatible with its regulatory framework.
The project, reportedly backed by an investment firm owned by Saudi Arabia's Public Investment Fund (PIF), aims to revolutionise cycling with the support of major teams and race organisers.
One Cycling wanted an overhaul of the calendar and the possible creation of new competitions to generate new sources of revenue.
"The project, which had been developed by certain teams and organisers in collaboration with a sports investment fund, was deemed incompatible with the governance and regulatory framework of the UCI as well as lacking sporting coherence," a UCI press release said.
The UCI said it welcomed the fact that cycling is attracting new investors and wished to continue discussions with the project's representatives.
There is one addition to the women's calendar with the Dwars door Vlaanderen on April 1, after the race had previously been run on the UCI ProSeries calendar, the second-tier tour.
In an effort to promote the continued development of women's cycling, the UCI Management Committee approved a 20% increase in the participation allowance paid by organisers of Women's World Tour events to participating teams.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
an hour ago
- Reuters
US natgas prices climb 2% on soaring oil futures after Israel strikes Iran
June 13 (Reuters) - U.S. natural gas futures climbed about 2% on Friday as gas followed oil prices higher after Israel launched strikes against Iran, raising worries that the Gulf nation could disrupt Middle Eastern oil and gas supplies. U.S. crude futures jumped more than 13% overnight, reaching their highest levels since January. Gas futures for July delivery on the New York Mercantile Exchange were up 5.9 cents, or 1.7%, to $3.551 per million British thermal units (mmBtu) at 10:18 a.m. EDT (1418 GMT). On Thursday, the contract closed at its lowest level since May 30 for a fourth day in a row. For the week, the front-month was down about 4% after gaining about 13% over the prior two weeks. The premium of gas futures for August over July rose to a record high of 11 cents per mmBtu. With August futures trading higher than July futures so far this year, energy traders said the higher premium was likely due to expectations of lower supply, higher demand and/or a lower surplus of gas in storage in August than July. So far this year, energy firms have pulled a monthly record high of 1.013 billion cubic feet (bcf) of gas out of storage during a brutally cold January and added a monthly record high of 497 bcf into storage in May when mild weather kept both heating and cooling demand low, according to federal energy data. The prior all-time monthly injection high was 494 bcf in May 2015. Analysts expect energy firms will set another storage record this week with an eighth triple-digit injection. The U.S. Energy Information Administration will release the June 13 storage report a day ahead of schedule on Wednesday, June 18, due to the U.S. Juneteenth holiday on June 19. GAS/POLL During the week ended June 6, energy firms added 100 bcf or more of gas into storage for seven weeks in a row, tying the seven-week triple-digit injection record set in June 2014, according to federal energy data going back to 2010. Financial firm LSEG said average gas output in the Lower 48 U.S. states has eased to 105.1 billion cubic feet per day so far in June, down from 105.2 bcfd in May and a monthly record high of 106.3 bcfd in March due primarily to normal spring maintenance. Meteorologists forecast weather across the Lower 48 states will remain mostly warmer than normal through June 28. With hotter summer weather coming, LSEG forecast average gas demand in the Lower 48, including exports, would rise from 98.5 bcfd this week to 98.8 bcfd next week and 102.1 bcfd in two weeks. The forecast for this week was higher than LSEG's outlook on Thursday, while its forecast for next week was lower. The average amount of gas flowing to the eight big U.S. LNG export plants has fallen to 14.0 bcfd so far in June, down from 15.0 bcfd in May and a monthly record high of 16.0 bcfd in April. Traders said LNG feedgas reductions since April were primarily due to spring maintenance, including work at Cameron LNG's 2.0-bcfd plant in Louisiana and Cheniere Energy's (LNG.N), opens new tab 4.5-bcfd Sabine Pass facility in Louisiana and 3.9-bcfd Corpus Christi plant in Texas, and short, unplanned unit outages at Freeport LNG's 2.1-bcfd plant in Texas on May 6, May 23, May 28 and June 3. Energy traders said they expect maintenance to continue through late-June at Sabine, which has been pulling in about 3.0 bcfd of gas since the end of May. That figure compares with an average of 4.5 bcfd during the month of May. text_section_type="notes">For gas data on the LSEG terminal type ENERGY in the search bar and then go to the GAS drop down and the NORTH AMERICA drop down. For Interactive Map, type 'Interactive Map' in the box at upper left of the LSEG terminal For graphics on Baker Hughes rig counts, see: opens new tab For next-day SNL U.S. gas prices, see: For next-day SNL U.S. power prices, see: For U.S. natgas price and storage polls, see: For U.S. nuclear power outages, see: For U.S. Northwest hydro power report, see: NWRFC For U.S./Canada natural gas rig count vs Henry Hub futures price, see: opens new tab For the U.S. natural gas speed guide, see: For the U.S. power speed guide, see: To determine CFTC managed money net position add (NYMEX Henry Hub options and futures combined ) plus (ICE Henry Hub options and futures combined divided by four) plus (NYMEX Henry Hub swaps options and futures combined divided by four) plus (NYMEX Henry Hub penultimate gas swaps divided by four) NYMEX Henry Hub options and futures combined NYMEX Henry Hub futures only ICE Henry Hub options and futures combined NYMEX Henry Hub swaps options and futures combined NYMEX Henry Hub Penultimate gas swaps
Reuters
an hour ago
- Reuters
Basel Committee makes climate risk disclosure for bank regulators voluntary
LONDON, June 13 (Reuters) - The world's forum for banking regulators published a framework for disclosing climate-related risks on Friday, making the implementation voluntary, following pushback from the U.S. The Basel Committee on Banking Supervision, made up of banking regulators and central bankers from the G20 economies and other countries, said it would be up to national regulators to decide whether to require banks to disclose climate-related risks, a proposal that has been under discussion for years. In a statement, the committee said it acknowledged "that the accuracy, consistency and quality of climate-related data are evolving, and therefore it is necessary to incorporate a reasonable level of flexibility into the final framework." Policymakers and banking regulators around the world have been debating the extent to which climate change should be embedded into regulation and central bank policy, a tussle analysts say is likely to shape decision making. The framework asks banks to identify how climate risk could impact their financial returns and risk profile and map how they intend to respond to it. It asks them to consider both "physical risk" like flooding and heat stress and "transition risk", which includes changes to climate policy affecting agriculture. In Europe, authorities have been ramping up efforts to address climate-related risks, with the European Central Bank and others making management of climate risks a key priority. In the U.S., however, efforts have been scaled back or even shelved under the new administration of President Donald Trump. In January, the Federal Reserve withdrew from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), the main global body devoted to policing climate risk in the financial system, while a number of top U.S. commercial banks have dropped climate targets. The updated framework follows a lengthy consultation process which resulted in several changes to Basel's original proposal, first published in November 2023, the Basel Committee said. As well as stressing the voluntary nature of the proposal, the Basel Committee removed the requirement for banks to report on the carbon emissions associated with their capital markets activities and trading, known in the industry as "facilitated emissions." The committee said it would monitor relevant developments, including the implementation of other reporting frameworks and disclosure practices, and consider whether any revisions to the framework would be warranted in future.
Reuters
2 hours ago
- Reuters
Milner extends Brighton contract with Premier League appearances record in sight
June 13 (Reuters) - James Milner has agreed a one-year contract extension with Brighton & Hove Albion, the south-coast club said on Friday, as the 39-year-old eyes the all-time record for appearances in the Premier League. Milner, who made his Premier League bow as a 16-year-old for Leeds United in 2002, was restricted to just four league appearances in the 2024-25 campaign due to an injury in August, taking his overall tally to 638 Premier League games. But Milner, who will celebrate his 40th birthday in January, now has the chance to overhaul Gareth Barry's record of 653 Premier League games. "I'm really pleased we will have James with us again this season," head coach Fabian Huerzeler said in a statement. "Last season he wasn't able to help the team on the pitch as much as he would have liked, but around the squad his experience is invaluable, especially for the younger players. "He's a great guy to have in our environment, who is always there for me and the team. I'm looking forward to working with him again." Brighton finished eighth in the standings last season, missing out on European qualification.
