Latest news with #005
TimesLIVE
6 days ago
- Automotive
- TimesLIVE
Porsche SE cuts outlook, plans bigger push into defence
Holding company Porsche SE, Volkswagen's largest shareholder, cut its full-year profit forecast on Wednesday, weighed down by the German carmaker's weak first-half performance, while reiterating its plans to invest in the defence sector. Why it's important US tariffs have dealt a heavy blow to global carmakers, forcing them to book billions of dollars in losses, issue profit warnings, slash forecasts and raise prices. Though the EU has reached a trade deal that brought US tariffs on EU-made cars down to 15% from the previously imposed 25%, some analysts remain cautious as the duty is far higher than the 2.5% rate before US President Donald Trump launched his trade offensive. German car and car parts makers are meanwhile exploring the defence sector as a potential growth avenue, as Europe ramps up military spending. Key quotes 'Against the backdrop of a changing geopolitical situation and growing security policy requirements, Porsche SE sees considerable development potential in the defence and security sector and intends to capitalise on this,' the company said in a statement. 'With regard to portfolio investments, our aim is to increase our involvement in the defence and defence-related sectors while maintaining our core focus on mobility and industrial technology,' chairperson Hans Dieter Poetsch said. By the numbers Porsche SE expects the adjusted group result after tax to land between €1.6bn (R32,860,000,000) and €3.6bn (R74,005,200,000) in 2025, compared with €2.4bn (R49,349,280,000) to €4.4bn (R90,469,676,000) anticipated earlier. It reported an adjusted net profit of €1.1bn (R22,617,419,000) for the first half of the year, down by nearly a half from last year's €2.1bn (R43,178,709,000). Context Porsche SE, controlled by the Porsche and Piech families, is highly exposed to Volkswagen's performance through its nearly 32% stake, which influences its valuation, earnings and financial guidance. It also owns 12.5% of luxury carmaker Porsche AG, with much of the rest held by the Volkswagen Group. For full-year 2024, Porsche SE had disclosed impairments of €19.9bn (R409,169,671,000) on VW and €3.4bn (R69,899,240,000) on Porsche AG.
Indian Express
15-07-2025
- Business
- Indian Express
Boeing aircraft fuel valves safety notice decade-old, reposted in May 2025 only to reflect contact information change, says UK aviation regulator
The British aviation regulator UK Civil Aviation Authority (CAA) did not issue any safety notice in May this year mandating inspection of Boeing aircraft due to concerns over fuel shutoff valves. The notice that has been quoted in some reports and is doing rounds on social media was originally issued in 2015, and was re-uploaded on the CAA website on May 15 this year to just reflect a change in the agency's contact information, the CAA clarified to The Indian Express. The UK aviation regulator also said that it has no technical concern about Boeing aircraft and has not asked British operators of Boeing planes for any action following the preliminary report into the June 12 crash of an Air India Boeing 787-8 aircraft in Ahmedabad. 'To clarify that the safety notice (Number SN-2015/005) was issued in 2015. The document was updated on 15 May 2025 to update the contact email address on the document… Due to the update to the contact email address, our website published the document as if it was a new document,' a CAA spokesperson said in response to queries on the issue, clearing confusion. Given the public discourse around the Air India crash and the recently-released preliminary investigation report that identified fuel supply cut-off as the primary trigger for the accident, the said safety notice pertaining to fuel shutoff valves on various Boeing aircraft including the 787 led to considerable speculation in sections of the Indian news media and social media. The Indian Express compared both versions of the safety notice SN-2015/005, and found them to be the same, with the exception of the email address mentioned. 'Whilst the Air India accident investigation is ongoing, we do not have any technical concern with regards to Boeing products and we do not require any additional actions from UK operators,' the CAA spokesperson said in response to queries on whether the UK regulator is going to direct British carriers to conduct checks on their Boeing aircraft. With the investigation into the Air India crash focusing on the engine fuel control switches, India's aviation safety regulator Directorate General of Civil Aviation (DGCA) has asked for inspection of the switches' locking mechanism on most of the India-registered Boeing commercial aircraft by July 21 in line with the Special Airworthiness Information Bulletin (SAIB) issued by the US Federal Aviation Administration (FAA) in December 2018. Some other countries are expected to advise their airlines to conduct similar checks, while a few airlines have started checks on a voluntary basis. The FAA and the CAA, however, are not considering ordering any checks at this stage. The preliminary investigation report from India's Aircraft Accident Investigation Bureau (AAIB) said that the Air India plane crashed after both its engines were starved of fuel as the two fuel control switches transitioned from 'RUN' to 'CUTOFF' position within a second of each other moments after lift-off. Experts say accidental movement of these switches—used to allow and cut fuel supply to the aircraft's engines—is not quite possible. The spring-loaded switches have brackets on either side to protect them and the locking mechanism requires the pilots to lift the switch up before moving it between either of its two positions—RUN and CUTOFF. While not linking the crash with the potential fuel lock disengagement issue mentioned in the SAIB, the report did make a reference to it while listing the aircraft information. This SAIB was issued by the FAA after a few Boeing 737 operators said that some fuel control switches were installed with the locking feature disengaged. Various Boeing aircraft, including the 787s, have fuel control switches similar to those on the 737s. The SAIB did not classify the concern as an unsafe condition, but had advised operators of various Boeing models to inspect the switches. In view of the Air India crash, there have been calls from various quarters in India and abroad for the checks recommended in the 2018 SAIB to be conducted to ensure that fuel control switches on Boeing aircraft are functioning as intended.
New Straits Times
29-06-2025
- Business
- New Straits Times
CPO futures likely to trade sideways next week due to lack of fresh cues
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade sideways next week owing to a lack of fresh market cues. Palm oil trader David Ng said there aren't any strong new factors to push prices significantly higher or lower. "There aren't any major catalysts at the moment to push prices sharply in either direction, so we expect the market to remain range-bound for now as traders wait for fresh leads. "Prices are expected to trade within the range of RM3,900 to RM4,100 per tonne," he told Bernama. On a weekly basis, the July 2025 contract fell RM85 to RM3,986 per tonne, while August 2025 dropped RM102 to RM4,005 per tonne. September 2025 declined RM107 to RM4,011 per tonne, October 2025 eased RM104 to RM4,011 per tonne, November 2025 slipped RM101 to RM4,017 per tonne, and December 2025 decreased RM95 to RM4,031 per tonne. The weekly trading volume decreased to 267,618 lots from 401,206 lots in the previous week, while open interest went down to 224,560 contracts from 231,757 contracts. The physical CPO price for July South decreased by RM100 to RM4,020 per tonne.
Gulf Today
26-06-2025
- Gulf Today
Abu Dhabi court orders man to return Dhs260,000 he borrowed from a woman
Abu Dhabi Family, Civil, and Administrative Cases Court has ordered a man to repay Dhs260,000 to a woman from whom he borrowed the amount but failed to repay it, repeatedly delaying settlement. The woman filed a lawsuit demanding the man repay the Dhs260,000 loan, along with a 12% legal interest until full repayment. She also sought Dhs16,000 for car installments he was supposed to pay but failed to, despite using the vehicle for four months. The plaintiff stated that the appellee received Dhs260,000 from her, as evidenced by a debt acknowledgment for the loan. Additionally, he took possession of her car, agreeing to pay Dhs4,005 in monthly installments for four months during which he used the vehicle. During the hearing, the court administered an oath to the plaintiff, who swore she lent the appellee Dhs260,000, which he did not repay. The court reviewed the evidence submitted by the plaintiff, including a promissory note proving the loan. The appellee appeared in court but failed to provide evidence of repayment or dispute the authenticity of his signature on the promissory note.
GMA Network
19-05-2025
- General
- GMA Network
No winners of major lotto prizes on Monday, May 19, 2025
There were no winners of the major jackpot prizes drawn by the Philippine Charity Sweepstakes Office (PCSO) on May 19, 2025. The prize for Grand Lotto 6/55 now stands at P29,700,000 after no bettor picked the winning numbers of 33-51-28-23-31-20. For Megalotto 6/45, the winning combination of 42-15-43-06-26-37 would have won the jackpot prize of P59,005,030.40. For more lotto results, check here. —RF, GMA Integrated News
