Latest news with #US-built
Sky News AU
10 hours ago
- Business
- Sky News AU
High-level Chinese diplomat probes Newcastle City Lord Mayor for AUKUS submarine location in private meeting
A high-level Chinese diplomat based in Australia has pressed Newcastle City Mayor Ross Kerridge for information on AUKUS nuclear submarines during a private meeting between the pair. Australia's ability to secure nuclear submarines is a main pillar of the trilateral AUKUS security agreement and the country has already committed $3 billion to assist United States defence manufacturing in exchange for being able to purchase Virginia class vessels. However, questions have been raised over the availability of US-built of submarines following the Trump administration's announcement it was reviewing the deal, which Australia sees as a critical defence investment of deterrence in the region. The Daily Telegraph has now revealed an encounter on July 17 where the future docking location of AUKUS submarines was discussed, prompted by the Consul General of China in Syndey, Wang Yu. According to minutes of the meeting obtained by masthead, notes taken show that the diplomat asked if submarines secured under AUKUS would be based at Newcastle. '(Consul General) explained that China is concerned that Chinese interests in Australia will be affected by strategic defence decisions,' the meeting document read, according to the masthead. 'For example, is Newcastle Port a potential base for AUKUS submarines? '(The Lord Mayor) explained that we are a nuclear free city, but we will not have the means to stop a decision of this nature taken by the state and/or federal governments. 'China expects that Australia and Newcastle will have good relations with other countries and is also looking to build good relations, but would not like us… to use our good relations with other countries to adversely affect China.' The Daily Telegraph also reported the New South Wales city's Taiwanese and Tibetan communities were talked about during the meeting. It comes just days after The Australian revealed Shanghai Xinyang Chamber of Commerce president Wang Yongxin's family ties to the purchase of commercial port properties at Newcastle and Kembla. Wang family members have reportedly denied they have links to the Chinese Communist Party's United Front. Meanwhile, there have been suggestions Australia may need to increase its financial commitments to ensure Virginia class submarines are provided in line with the terms of the original AUKUS agreement. Last month, Defence Minister Richard Marles said he was not prepared to "speculate" on the Trump administration's review of the pact and insisted the government's focus was directed at "pursuing the optimal pathway" that would see Virginia class submarines being available to Australia from 2032.
Irish Post
2 days ago
- Business
- Irish Post
O'Leary criticises Irish government's development and infrastructure plan
RYANAIR CEO Michael O'Leary has criticised the Irish government's infrastructure plan, accusing it of wasting public money while obstructing airline growth at Dublin Airport. Speaking after Ryanair reported a record €820 million net profit for the first quarter of its fiscal year, which is more than double from the same period last year, O'Leary said the government's inaction on lifting the airport's passenger cap was stifling growth and pushing business abroad. 'Here is infrastructure that is built and paid for that they won't allow us to use,' O'Leary said, referring to the terminal and runway capacity at Dublin Airport, which remains capped at 32 million passengers annually. The airline boss labelled the government's forthcoming €100 billion infrastructure plan as 'smoke and mirrors' from 'a government that wastes money' and accused Transport Minister Darragh O'Brien of 'dither, delay and indecision.' As a result, O'Leary warned that Ryanair is changing its expansion plans to other European markets, particularly Poland, due to the growth restrictions in Dublin. Ryanair's latest quarterly results showed impressive gains, buoyed by a recovery in airfares and increased traffic. Revenue grew 20% to €4.34 billion, with a 21% jump in average fares. Passenger numbers rose by 4% to nearly 58 million, and unit revenue per passenger climbed by 15%, while costs increased just 1%. Fuel costs were cushioned by effective hedging, providing stability in a volatile energy market. Despite the upbeat earnings, O'Leary acknowledged that passenger growth will be constrained for the rest of the fiscal year due to delayed aircraft deliveries from Boeing. Ryanair is still waiting on 29 long-delayed 737 jets originally due by spring. Boeing has now asked Ryanair to accept delivery as late as 2026, though O'Leary said this would strain the company's cash flow. He also confirmed that the new 737 Max 10 jets are expected to receive certification by the end of this year. Ryanair and Boeing are exploring options to mitigate the risk of tariffs on US-built aircraft due to a potential EU-US trade dispute. O'Leary said Boeing would be contractually responsible for any tariffs and hinted at the possibility of registering some aircraft in Britain, where no such tariffs apply under the British-US agreement. O'Leary also recently caused a stir by confirming that Ryanair staff are paid commission for catching passengers with oversized cabin bags. Employees earn €1.50 per oversized bag, with monthly commissions reportedly capped at €80, although O'Leary suggested this cap may rise. 'We're thinking of increasing it,' he said, calling oversized bags 'a scourge' and saying strict enforcement is necessary given the limited baggage space on full flights. He dismissed proposed EU regulations that would entitle all passengers to bring a 7 kg cabin bag and a small personal item free of charge, casting doubt on their viability. O'Leary said Ryanair 'cautiously expects to recover almost all of last year's 7% full-year fare decline,' which could lead to further profit growth. However, he warned that risks remain, citing tariff threats and geopolitical instability in Ukraine and the Middle East. Despite these challenges, the airline remains confident in its long-term growth if it is allowed to make full use of the infrastructure already in place at Dublin Airport. 'Until the government gets serious about aviation and stops playing politics, Ireland will continue to lose out,' he said. See More: Darragh O'Brien, Michael O'Leary, NDP, Ryanair
Yahoo
15-07-2025
- Automotive
- Yahoo
Slate CEO says 5 types of car shoppers are interested in its low-cost EV pickup
Slate Auto CEO Chris Barman described five types of buyers interested in the company's low-cost electric truck. The demographic groups included fresh college graduates, newly-licensed drivers, and retirees, she told Sherwood News. The Jeff Bezos-backed company initially promised a truck "under $20,000," but shifted to a "mid-twenties" expected price tag. Slate Auto's new electric vehicle is expected to be unusually cheap, priced in the mid-twenty-thousand-dollar range. Given its anticipated price point, Slate says it has seen interest from five different consumer segments as it prepares to enter the market, CEO Chris Barman said in a recent interview with Sherwood News. First, Barman said that "everyday Americans" are interested in the vehicle, mostly because "it's just an affordable vehicle and a lot of utility and value for the money." Barman also said that "young professionals" fresh out of college or trade school are interested. "They're looking for value for the money, and what they love is the fact that it's an EV and they love the customization," she said. Electric vehicle ownership has long veered younger, according to a March Gallup poll, with 64% of 18-34-year-olds surveyed interested in owning an EV, compared to just 41% of those ages 55+. Barman is eyeing an especially young demographic: newly licensed drivers. "Parents like the fact that there are only two passengers, it doesn't have an infotainment for distraction, it has really high safety standards, and it's affordable," Barman told Sherwood. Among the older set, Barman points out that "contemporary seniors" are interested in the vehicle. " "They're individuals who are semiretired or retired and are interested in an electric vehicle, but have been intimidated by all the other technology that has been in an EV," she said. "They just want a simpler form of driving." Finally, auto junkies are interested in tricking the car out, the CEO added. Slate's electric pickup truck's "mid-twenties" price target remains relatively inexpensive, a feat especially important as the EV market floods with Chinese competitors outside of the US. The Jeff Bezos-backed EV producer originally said that its truck would be "under $20,000" after federal incentives. That price would have made the truck substantially cheaper than its EV competitors, like the Nissan Leaf, which starts at $28,140. When $50 reservations opened in April, the company reported receiving more than 100,000 requests in the first three weeks. President Donald Trump's "One Big Beautiful Bill Act" is set to eliminate many of the country's clean energy incentives, including the $7,500 tax credit for new US-built EVs, which Slate had been counting on to hit the sub-$20,000 pricing threshold. After Trump's spending bill was signed into law on July 4, Slate Auto changed the expected price online from "under $20,000" to "mid-twenties," where it remains. Read the original article on Business Insider
Business Insider
15-07-2025
- Automotive
- Business Insider
Slate CEO says 5 types of car shoppers are interested in its low-cost EV pickup
The electric vehicle owner demographic has centralized around some common traits. EV owners tend to be high earners and lean left politically. But Slate Auto's new electric vehicle is expected to be unusually cheap, priced in the " mid-twenties." Given its price, Slate says it has seen interest from five different consumer segments as it prepares to enter the market, CEO Chris Barman said in a recent interview with Sherwood News. First, Barman said that "everyday Americans" are interested in the vehicle, mostly because "it's just an affordable vehicle and a lot of utility and value for the money." Barman also said that "young professionals" fresh out of college or trade school are interested. "They're looking for value for the money, and what they love is the fact that it's an EV and they love the customization," she said. Electric vehicle ownership has long veered younger, according to a March Gallup poll, with 64% of 18-34-year-olds surveyed interested in owning an EV, compared to just 41% of those ages 55+. Barman is eyeing an especially young demographic: newly licensed drivers. "Parents like the fact that there are only two passengers, it doesn't have an infotainment for distraction, it has really high safety standards, and it's affordable," Barman told Sherwood. Among the older set, Barman points out that "contemporary seniors" are interested in the vehicle. " "They're individuals who are semiretired or retired and are interested in an electric vehicle, but have been intimidated by all the other technology that has been in an EV," she said. "They just want a simpler form of driving." Finally, auto junkies are interested in tricking the car out, the CEO added. Slate's electric pickup truck's "mid-twenties" price target remains relatively inexpensive, a feat especially important as the EV market floods with Chinese competitors outside of the US. The Jeff Bezos-backed EV producer originally said that its truck would be "under $20,000" after federal incentives. That price would have made the truck substantially cheaper than its EV competitors, like the Nissan Leaf, which starts at $28,140. When $50 reservations opened in April, the company reported receiving more than 100,000 requests in the first three weeks. President Donald Trump's "Big Beautiful Bill," however, is set to eliminate many of the country's clean energy incentives, along with the $7,500 tax credit for new US-built EVs. After the spending bill was signed into law by Trump on July 4, Slate Auto changed the price online from "under $20,000" to "mid-twenties," where it remains.
Euronews
15-07-2025
- Politics
- Euronews
Panama did not cede sovereignty to the US, foreign minister says
Following US President Donald Trump's repeated threats to take control of the Panama Canal, arguing that the US-built trade passage is key to national security, a memorandum has allowed Washington to carry out a series of military exercises with the Panamanian police. Three helicopters arrived in the area on Sunday to train for a possible scenario to protect the canal. Amid concerns over a possible US takeover, Panama has defended the security agreement reached with Washington and denied that sovereignty has been ceded. "There will be no permanent presence of foreign forces in our territory. This is temporary," Panama Foreign Minister Javier Martínez-Acha told Euronews. "We have no presence of troops of any nationality. We have signed a memorandum of understanding, as we have with other Latin American countries, to carry out joint exercises to prepare ourselves for asymmetric threats, to prepare ourselves in case we have to act jointly to contain organised crime, drug trafficking," Martínez-Acha said in an interview. Relations with Washington were strained after Trump accused Panama of ceding control of strategic infrastructure to China. However, the foreign minister claims that the tensions have dissipated. "We understand that we have a privileged region with the United States. At times it has been complex, but today we are cooperating very well based on respect for Panama's integrity and sovereignty," Martínez-Acha said. Some 6% of the world's maritime trade passes through the Panama Canal each year. More cooperation on tax matters Martínez-Acha has travelled to Brussels to take part in the European Union-Central America Association Council on Monday. One of the issues that has caused the most controversy over the years is the inclusion of Panama on the list of non-cooperative countries in tax matters. Martínez-Acha denied that his country is a tax haven and pointed out the assurances he has given to Brussels. "We are a responsible country. We are a country committed to transparency and tax cooperation", he explained, while acknowledging that there is still work to be done. "We will do them. We are considering reforms in the way tax cooperation is transmitted," Martínez-Acha said. Following a vote in the European Parliament ratifying a European Commission proposal, Panama has now been removed from the blacklist of countries with weak controls on illicit money flows. However, the Central American country remains on the list of non-cooperative states for tax purposes, which also includes Russia and Trinidad and Tobago. Among the pending tasks is the elimination of preferential tax regimes to avoid the existence of offshore structures without genuine economic activity. "We have to make a reform from a tax point of view so that if these multinational companies have economic substance in Panama, or if these foreign incomes are repatriated to Panama, they are subject to tax," Martínez-Acha explained. "If they are repatriated to third countries, then they will not be subject to tax". For Europe, Panama is not only strategically important economically, but also essential in preventing sanctions violations against countries such as Russia.
