logo
Damaged Finland-Estonia undersea cable expected back in operation by mid-July

Damaged Finland-Estonia undersea cable expected back in operation by mid-July

Yahoo16-04-2025

HELSINKI (Reuters) - Repair work on the damaged subsea power line EstLink 2 that runs between Finland and Estonia will start in May and is expected to return to commercial use on July 15, Finnish power grid operator Fingrid said on Wednesday.
Finnish authorities in December seized a ship carrying Russian oil in the Baltic Sea on suspicion it caused the outage of the undersea power cable as well as four internet lines.
Fingrid said in a statement on Wednesday that a new cable was being installed on the seabed to replace the existing one over a distance of around one kilometer (0.62 miles).
"Implementing such extensive repair work has required detailed planning and necessitates a specially equipped vessel for the task," the operator said, adding that the work was being carried out by Nexans.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Citigroup to axe around 3,500 tech roles in China
Citigroup to axe around 3,500 tech roles in China

Yahoo

time42 minutes ago

  • Yahoo

Citigroup to axe around 3,500 tech roles in China

Citigroup is trimming its workforce size by approximately 3,500 at two of its technology centres in China, reported Reuters. The aim is to consolidate and streamline the bank's global technology operations to enhance its risk and data management systems. The staffing reductions will affect the China Citi Solution Centres in Shanghai and Dalian, with the bank planning to complete the process by the start of the fourth quarter of this year, the news agency said citing a statement by Citi. The jobs being cut are predominantly full-time positions, a source privy to the development disclosed. Some of the jobs from these centres would be relocated to other technology hubs within the company, although the specifics regarding the number of jobs or their destinations were not provided. This announcement follows last month's report, which indicated that Citigroup was reducing around 200 information technology contractor roles in China. In March, the bank communicated internally its strategy to decrease its reliance on IT contractors and to increase its in-house IT staff, in response to penalties imposed by regulators concerning data governance and control shortcomings. The downsizing in China is part of Citigroup's global restructuring plan, which has also seen the bank scaling back operations in the US, Indonesia, the Philippines, and Poland. The China-based service and technology unit is tasked with delivering financial technology and operations services to support Citigroup's global business operations. Citigroup is currently in the process of establishing a securities unit in China, still maintain the regional presence. Post-reduction, Citigroup's staff count in China is expected to be around 2,000, which includes several hundred employees within the technology division. Citi Japan, Asia North and Australia banking head Marc Luet was quoted by Reuters as saying: "Citi continues to pursue the establishment of a wholly owned securities and futures company in China." "Citigroup to axe around 3,500 tech roles in China " was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

Anthropic CEO says proposed 10-year ban on state AI regulation 'too blunt' in NYT op-ed
Anthropic CEO says proposed 10-year ban on state AI regulation 'too blunt' in NYT op-ed

Yahoo

timean hour ago

  • Yahoo

Anthropic CEO says proposed 10-year ban on state AI regulation 'too blunt' in NYT op-ed

(Reuters) -A Republican proposal to block states from regulating artificial intelligence for 10 years is "too blunt," Anthropic Chief Executive Officer Dario Amodei wrote in a New York Times' opinion piece. Amodei instead called for the White House and Congress to work together on a transparency standard for AI companies at a federal level, so that emerging risks are made clear to the people. "A 10-year moratorium is far too blunt an instrument. AI is advancing too head-spinningly fast," Amodei said. "Without a clear plan for a federal response, a moratorium would give us the worst of both worlds - no ability for states to act, and no national policy as a backstop." The proposal, included in President Donald Trump's tax cut bill, aims to preempt AI laws and regulations passed recently in dozens of states, but has drawn opposition from a bipartisan group of attorneys general that have regulated high-risk uses of the technology. Instead, a national standard would require developers working on powerful models to adopt policies for testing and evaluating their models and to publicly disclose how they plan to test for and mitigate national security and other risks, according to Amodei's opinion piece. Such a policy, if adopted, would also mean developers would have to be upfront about the steps they took to make sure their models were safe before releasing them to the public, he said. Amodei said Anthropic already releases such information and competitors OpenAI and Google DeepMind have adopted similar policies. Legislative incentives to ensure that these companies keep disclosing such details could become necessary as corporate incentive to provide this level of transparency might change in light of models becoming more powerful, he argued.

TSX futures inch up ahead of key economic data
TSX futures inch up ahead of key economic data

Yahoo

timean hour ago

  • Yahoo

TSX futures inch up ahead of key economic data

(Reuters) -Futures linked to Canada's primary stock index rose slightly on Thursday, as investors awaited economic data from the United States and home to assess the impact of U.S. President Donald Trump's tariffs on the economy and global trade. The S&P/TSX index futures were up 0.2% at 6:35 am ET (1035 GMT). Data scheduled for Thursday are U.S. initial jobless claims and the international trade report at 08:30 a.m. ET. Focus will also be on Friday's employment figures from Canada and non-farm payrolls data from the U.S. to assess the effect of Trump's trade policies on the labour market. Meanwhile, the United States' tariff hike on steel and aluminum took effect on Wednesday. Canada, the largest seller of the metals to the U.S., exports roughly twice as much aluminum as the rest of the top 10 exporters combined. Canadian companies and a major union said higher U.S. tariffs could result in more job losses and lost sales. Prime Minister Mark Carney said Canada is prepared to strike back against the U.S. if talks with Washington to remove tariffs do not succeed. Also on Thursday, China blocked Canada's request to set up a dispute panel to review additional import duties by Beijing on certain Canadian products. Eyes will be on potential negotiations between Washington and its trading partners, with Trump and Chinese leader Xi Jinping expected to speak sometime this week. In commodities, oil and gold prices held steady, while London copper prices inched up. Canada's commodity-linked main stock index fell on Wednesday as lower oil prices weighed on energy shares. FOR CANADIAN MARKETS NEWS, CLICK ON CODES: TSX market report [.TO] Canadian dollar and bonds report [CAD/] [CA/] Reuters global stocks poll for Canada Canadian markets directory

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store