Tanker carrying 1 million barrels of oil hit by explosion off Libya
An oil tanker carrying one million barrels of crude oil exploded near the Libyan coast, Bloomberg reported on 30 June....
China has ordered its airlines to suspend further deliveries of Boeing jets in response to the United States' decision to impose 145% tariffs on Chinese goods, according to a Bloomberg News report on Tuesday.
This move escalates the ongoing trade dispute between the two countries, adding pressure to Boeing, which considers China one of its key markets.
Shares of Boeing fell by 3% in premarket trading following the news, while shares of its rival Airbus rose by 1%. The suspension of deliveries is a significant blow to Boeing, as China is a major growth market for the company. The country's top three airlines—Air China, China Eastern Airlines, and China Southern Airlines—were set to receive 45, 53, and 81 Boeing jets, respectively, between 2025 and 2027.
In addition to halting the delivery of Boeing aircraft, the Chinese government has reportedly instructed Chinese carriers to cease purchasing aircraft-related parts and equipment from U.S. companies. This could lead to higher maintenance costs for Boeing jets operating in China, compounding the difficulties faced by the American aerospace giant.
China’s decision follows a broader pattern of retaliatory measures against U.S. tariffs. Last week, Beijing raised tariffs on U.S. imports to 125%, significantly increasing the cost of Boeing jets for Chinese carriers. This move may push airlines to consider alternatives, including Airbus and China's domestic aircraft manufacturer COMAC.
The halt in deliveries to China is a setback for Boeing, which has already been grappling with the fallout from the grounding of its 737 MAX jets after two deadly crashes in 2018 and 2019. Boeing's recovery has been slow, compounded by labor strikes, regulatory scrutiny, and supply chain disruptions.
The escalating tariffs between the U.S. and China have the potential to severely impact global trade, with analysts warning that the ongoing trade war could bring goods trade between the two largest economies to a standstill. In 2024, trade between the two nations was valued at over $650 billion.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
The International Monetary Fund (IMF) on Monday approved the disbursement of an additional $500 million to Ukraine, following the completion of its eighth review under the country’s $15.5 billion Extended Fund Facility.
U.S. President Donald Trump on Monday publicly criticized AT&T for technical issues that disrupted a national conference call with faith leaders, urging the company’s leadership to address the situation and suggesting his administration may turn to a different carrier in future communications.
France, Spain, Kenya, and several other nations announced on Monday a joint pledge to tax premium-class airline passengers and private jet users, in a move aimed at raising billions of dollars for climate action and sustainable development.
Mexican authorities discovered 20 bodies, including several decapitated, on Monday in the western state of Sinaloa, where cartel violence has sharply increased.
An oil tanker carrying one million barrels of crude oil exploded near the Libyan coast, Bloomberg reported on 30 June.
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