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$28 billion and counting: Europe tallies the cost of another energy crisis

Kraig Pakulski 0 17 Article rating: No rating

By Hanna Ziady, CNN

London (CNN) — The European Union has unveiled a raft of planned emergency measures to cushion its economy from soaring energy costs.

The proposals, announced Wednesday, underscore the economic damage the Iran war is inflicting on Europe, which only recently emerged from the energy crunch precipitated by Russia’s 2022 invasion of Ukraine. Some industries are already fighting for survival.

“For the second time in less than five years, Europeans are paying the price of Europe’s dependency on imported fossil fuels,” the European Commission, the EU’s executive arm, said in a statement detailing the measures.

The bloc has spent an additional €24 billion ($28 billion) on energy imports since the start of the war due to higher prices – or more than $587 million a day – “without receiving a single extra molecule of energy,” it added.

The plans include the establishment of a pan-European body to swiftly identify potential shortages of jet fuel and diesel, and to coordinate sharing of fuel or any emergency stockpile releases by EU member states.

The International Energy Agency and airports industry group ACI Europe have both warned that Europe, which imports around 70% of its jet fuel supply, could see shortages of the fuel in the coming weeks.

EU member states should also “urgently suspend” aviation taxes, “so as to cushion price impacts,” Olivier Jankovec, director general of ACI Europe, said in response to the European Commission’s proposals, which also include income support, energy vouchers and cuts to electricity taxes.

The industry group warned earlier that reduced air travel would “significantly harm the European economy,” particularly countries that rely on tourism.

Europe confronts energy crunch

The plunge in oil and natural gas supply caused by the Iran war, which has already hit Asia hard, is steadily moving west. Even if potential peace talks bring an end to the conflict this week, at least some of the damage to Europe’s economy has already been done.

“Even if hostilities ceased immediately, disruptions to energy supplies from the Gulf will persist for the foreseeable future,” the European Commission said.

The list of pain points for households and businesses grows weekly, ranging from higher gasoline and food prices to fewer and more expensive flights.

Germany’s Lufthansa Group said Tuesday that it would cut 20,000 flights from its schedule through October to save on jet fuel, “the price of which has doubled since the outbreak of the Iran conflict.”

For some businesses, the impact of the energy crunch has been particularly severe. For example, a number of European fishermen have stopped fishing because profits have been hit so hard by the rise in energy and raw material costs, according to the bloc’s executive.

Last week, the European Commission triggered a “crisis mechanism” to allow EU member states to provide direct financial support to fishers and fishmongers. “The people who bring seafood to our tables deserve our full support when a crisis beyond their control threatens their livelihoods,” said Cost

Devin Nunes steps down as head of Trump’s struggling media company

Kraig Pakulski 0 14 Article rating: No rating

By Steve Contorno, CNN

(CNN) — The company behind President Donald Trump’s social media network is changing leaders amid mounting financial losses, a sagging stock price and lingering uncertainty about the long-term viability of its flagship product, Truth Social.

Devin Nunes, a former California member of Congress and longtime Trump loyalist, is exiting his position as chief executive officer of Trump Media & Technology Group Corp., he and the company announced Tuesday. Kevin McGurn, a former executive at Hulu and Vevo, will step in as interim CEO.

“I want to thank Devin Nunes for his dedicated service to the Company over the past four years, and congratulate Kevin McGurn on his appointment as Interim CEO,” Donald Trump Jr. said in a statement on behalf of the board of directors. “Kevin brings deep experience across media, technology, and capital markets, as well as a strong understanding of Trump Media’s operations and strategic priorities. His familiarity with the Company and alignment with our leadership team uniquely position him to guide Trump Media through this important period.”

Nunes’ four-year stint included the launch of Truth Social in 2022 — after social media sites banned Trump from their platforms due to his efforts to hold onto power in 2021. The fledgling app closely resembles Twitter, the site that helped launch Trump’s political career, and it soon became the vessel for his latest musings, broadsides, endorsements and announcements about his political comeback.

Nunes also oversaw Trump Media & Technology Group Corp.’s transition to a public company in 2024, a move that put Trump’s initials alongside some of the most iconic brands and corporations in the world.

After going public, the price of the stock quickly soared over $60, boosting the on-paper wealth of Trump, the company’s largest shareholder. But DJT, as it trades on the stock exchange, has since fallen back to earth. As of Wednesday morning, it was trading for about $9.70.

The site has failed to gain a broader user base outside of Trump’s hardcore followers and media types tracking his thoughts and moves. The company reported just $3.7 million in revenue last year and a net loss of $712 million.

“TMTG expects to incur operating losses for the foreseeable future,” the company wrote in its most recent annual report to shareholders. “If Truth Social or Truth+ fails to develop and maintain followers or a sufficient audience, or if adverse trends develop for social media platforms or streaming services generally, TMTG’s business would be adversely affected.”

Nunes said on Truth Social that stepping down as CEO will “allow me to focus more intently on my role as Chairman of the President’s Intelligence Advisory Board.”

“I remain fully committed to our common cause of free speech on the Internet, which is now and will always be fiercely protected by Truth Social,” he wrote.

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Zelensky dice a CNN que las conversaciones sobre Ucrania no pueden esperar hasta que termine la guerra en Irán

Kraig Pakulski 0 16 Article rating: No rating

Por Christiane Amanpour y Ivana Kottasová, CNN

El presidente de Ucrania, Volodimir Zelensky, admitió que la guerra en Irán ha desviado la atención de la agresión rusa contra su país, y declaró a CNN que era un “gran riesgo” pensar que las labores para poner fin a los combates en Ucrania no pueden reanudarse hasta que termine el conflicto en Irán.

En declaraciones a Christiane Amanpour de CNN desde la oficina presidencial en Kyiv, Zelensky afirmó el miércoles que, si bien continúan las conversaciones técnicas con Estados Unidos, no ve “la oportunidad de reunirse… hasta que se resuelva el problema de Irán”.

Zelensky señaló que era complicado que el mismo equipo de negociadores estadounidenses —encabezado por el enviado Steve Witkoff y Jared Kushner, yerno del presidente Donald Trump— estuviera liderando tanto las conversaciones sobre la guerra en Irán como en Ucrania.

Añadió que, si bien comprende que Estados Unidos esté centrado actualmente en su guerra contra Irán, era importante no olvidar a Ucrania.

El líder ucraniano afirmó que no era una opción decir que “hablaremos de Ucrania más adelante”… Ucrania no es un tema para ‘más adelante’. Ucrania ya está inmersa en una tragedia tan grande que debemos encontrar la manera de gestionarlo de forma paralela”.

Zelensky también declaró a CNN que la guerra ha provocado la interrupción del suministro de armamento para Ucrania, especialmente misiles antibalísticos, de los cuales, según indicó, Ucrania no recibe suficientes debido a la limitada capacidad de producción en Estados Unidos.

En declaraciones a CNN, apenas unas horas después de que la Unión Europea aprobara finalmente un préstamo clave de 90.000 millones de euros para Ucrania, Zelensky afirmó que obtener el dinero era una cuestión “vital y de supervivencia” para su país.

El préstamo, prometido a Kyiv meses atrás, se había retrasado considerablemente debido al bloqueo del entonces primer ministro húngaro, Víctor Orbán, quien exigía que Ucrania reanudara el flujo de petróleo ruso hacia Europa. Su aplastante derrota en las elecciones parlamentarias húngaras la semana pasada eliminó uno de los últimos obstáculos y, el miércoles, se reanudó el tránsito de petróleo a través del tramo ucraniano del oleoducto Druzhba, y los embajadores de la UE dieron un acuerdo preliminar para el préstamo.

Zelensky declaró a CNN que, sin los fondos, Ucrania tenía dificultades para fabricar la cantidad de armas que era capaz de producir.

Puso como ejemplo los interceptores de drones, e indicó que Ucrania produce actualmente alrededor de 1.000 unidades diarias, a pesar de tener la capacidad para fabricar 2.000 al día. “Pero no tenemos los fondos. Es una cuestión de vida o muerte, de supervivencia, de defensa; necesitamos este dinero urgentemente”, declaró a CNN.

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Con información de Alicia Lloyd, Ana Bickford, Adam Pourahmadi y Victoria Butenko, de CNN.

The post Zelensky dice a CNN que las conversaciones sobre Ucrania no pueden esperar hasta que termine la guerra en Irán appeared first on News Channel 3-12.

Supreme Court allows soldier injured in Bagram suicide bombing to sue contractor

Kraig Pakulski 0 18 Article rating: No rating

By John Fritze, CNN

(CNN) — The Supreme Court on Wednesday sided with an Army specialist who was severely injured by a suicide bomber on Bagram Air Base and is attempting to sue a military contractor for failing to supervise the Afghan employee who carried out the attack.

The 6-3 decision, which split the court’s conservatives and was written by Justice Clarence Thomas, will allow Winston T. Hencely, who was 20 years old when he confronted the attacker in a 2016 incident, to continue to pursue his lawsuit for damages.

Hencely lost full use of his left arm, left hand and left side of his face after the attack, which killed five soldiers and civilians and wounded more than a dozen others. His lawyers said he endures chronic pain, cognitive disorders, memory loss and anxiety.

The bomber was later identified as Ahmad Nayeb, an Afghan national who was working at a vehicle maintenance yard for a military contractor. Hencely sued the contractor, Fluor Corporation, and a subcontractor for failing to properly vet and supervise Afghan employees.

“The government required Fluor to hire Afghan employees and to provide logistics for Bagram Airfield,” Thomas wrote for the court. “But, it did not, Hencely contends, require Fluor to leave Nayeb unsuper­vised, allow him to walk alone for an hour after his shift, or permit him to obtain unauthorized tools with which he could build a bomb.”

The Army, Thomas wrote, “concluded that Hencely’s intervention ‘likely prevented a far greater tragedy.’”

A federal district court had ruled against Hencely based on a 1988 Supreme Court precedent that limits the ability of people to file injury lawsuits against military contractors. In that case, the family of a Marine pilot who died during a training exercise sued the helicopter manufacturer for the design of its emergency escape hatch. A sharply divided Supreme Court barred such lawsuits, noting that the US military had approved the helicopter’s design.

Justice Samuel Alito, another member of the court’s conservative wing, wrote a dissent Wednesday saying that war zones are typically considered the purview of the federal government, not individual states.

“May a state regulate security arrangements on a military base in an active warzone? May state judges and juries pass judgment on questions that are inextricably tied to military decisions that balance war-related risks against long-term strategic objectives? In my judgment, the answer to these questions must be ‘no,’” Alito wrote. “And for that reason, this state-law tort case is preempted by the Constitution’s grant of war powers exclusively to the federal government.”

Alito was joined by Chief Justice John Roberts and Justice Brett Kavanaugh.

Fluor Corporation argued that the 1988 case should end Hencely’s litigation. It said the Army had authorized Nayeb’s employment and withheld security concerns about him from the company. The Trump administration also sided with the subcontractor, arguing that military contractors should not be subject to state tort suits.

But Hencely countered that the 1988 decision, Boyle v. United Technologies Corporation, was different because the contractor in that case was simply following orders.

“Boyle recognized a limited defense for contractors who do what the government says,” Hencely’s attorney told the Supreme Court during oral arguments in early November. “Boyle doesn’t apply here because the Army itself found that Fluor violated.”

Hencely sued in a federal court in South Carolina for damages, alleging negligent supervision and other claims under state law.

After the federal district court sided with the contractor, the Read more

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