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Reuters
22 minutes ago
- Reuters
Mexico expects to resolve aviation dispute with US within days
MEXICO CITY, July 22 (Reuters) - Mexico is planning on compromising with the U.S. over sticking points on aviation, the nation's president said on Tuesday, with one airline predicting that an agreement would come in the next few days. On Saturday, the U.S. Department of Transportation rolled out orders requiring Mexican airlines to submit flight schedules and threatening to reject requests if the Mexican government did not address U.S. concerns over flight changes in Mexico City. U.S. officials also proposed scrapping antitrust immunity for the joint venture between Delta Air Lines (DAL.N), opens new tab and Aeromexico to address competitive issues. The two have requested an extension through September 2 to respond to the proposal. "We feel tremendously confident that the solution is going to be here in the next few days," low-cost carrier Volaris' CEO, Enrique Beltranena, told analysts a day after meeting with Mexico's transportation ministry. Mexico and the U.S. are beginning negotiations and some compromises could be made, Mexican President Claudia Sheinbaum said on Tuesday. Washington "is making a set of particular requests," Sheinbaum said. "We're analyzing them to see whether they can be addressed or whether an alternative can be proposed." The U.S. has expressed concern about the decision by Mexico's previous administration to move cargo flights from the main capital airport to a newer, farther-away site while also cutting passenger flight slots. Sheinbaum did not specify what the U.S. requests were. She said the new airport where flights were moved - the Felipe Angeles International Airport (AIFA) - was also a solution. Sheinbaum's mentor, former President Andres Manuel Lopez Obrador, overhauled the capital airspace during his term, arguing that the main airport was overcrowded and that the AIFA, which he had built, would alleviate the pressure. Cargo carriers have complained about the swap, with the AIFA already at full capacity for cargo handling and in need of an expansion. Meanwhile passenger satisfaction regarding transportation to the distant site remains around 60%, according to a government presentation last week. Still, Beltranena said he remained "confident that both governments will reach a logical and mutually beneficial agreement."
Daily Mail
22 minutes ago
- Daily Mail
AstraZeneca set to invest £37bn in US: Move fuels fears firm with ditch UK listing
AstraZeneca has outlined plans to invest £37billion in the US as Donald Trump's pharmaceutical tariffs loom – fuelling fears that it will ditch its London listing. The FTSE 100 drug maker announced yesterday that it is accelerating its expansion in America with an investment that will create tens of thousands of new jobs. Analysts said 'the Government will be kicking itself' over the company's decision to plough money into the US rather than the UK – and added bosses are 'losing patience' with Labour. The move intensified concerns that AstraZeneca will shift its primary stock market listing from London to New York – a move that would strike a hammer blow to the City. Trump has threatened the sector with new import levies to pressure drug makers to move factories to the US. The President warned last week that he would impose tariffs 'probably at the end of the month' – and has previously said they could be as high as 200 per cent. The US is Cambridge-based AstraZeneca's largest market, accounting for 42 per cent of sales – a figure boss Pascal Soriot wants to boost to 50 per cent by the end of the decade. Russ Mould, investment director at AJ Bell, said: 'The more business it does in the country, the greater the likelihood that investors might push for AstraZeneca to switch its main stock listing to the US. 'That would be bad for the UK stock market as it is one of the biggest names in the FTSE 100.' AstraZeneca's pledge to invest in the US comes as an embarrassing snub to the Government just days after ministers unveiled a long-awaited plan to boost the UK's life sciences sector. Relations between AstraZeneca and the Government have become more strained since Labour came to power last year. In January, the firm axed plans for a £450million vaccine factory near Liverpool amid a funding row with ministers. And while Soriot has slammed the UK as 'a very unattractive place to do business', he yesterday said the push into the US 'underpins our belief in America's innovation in biopharmaceuticals and our commitment to the millions of patients who need our medicines in America and globally'. Rival manufacturers have also ramped up spending in the US as fears over tariffs swirl, including Swiss giant Roche, French firm Sanofi and FTSE 100 business Hikma. AJ Bell's Mould said: 'The Government will be kicking itself that AstraZeneca has decided to invest in the US as Blighty will miss out on associated economic benefits.' £1.2bn Sanofi swoop A French pharmaceuticals giant has agreed to buy a privately owned British biotech firm for up to £1.2billion. The deal sees Sanofi take control of Vicebio's early-stage combination vaccine candidate for respiratory syncytial virus (RSV) and human metapneumovirus (hMPV). Vicebio's vaccine candidate complements Sanofi's existing range, and allows it to offer a wider range to doctors and patients. Emmanuel Heron, Vicebio's boss, said Sanofi's 'global scale and deep expertise in vaccine development provide the ideal environment to fully realize the potential of our innovative technology. 'We look forward to advancing our platform.'
Daily Mail
22 minutes ago
- Daily Mail
Coca-Cola changes recipe from corn syrup to cane sugar in sweet victory for Donald Trump
Coca-Cola has confirmed it is changing the recipe for its signature fizzy drink after an intervention by Donald Trump. The drinks giant will launch a Coca-Cola in the US this autumn that will be made with real cane sugar rather than high-fructose corn syrup. Food firms have scrambled to change ingredients and include healthier substitutes amid Health Secretary Robert Kennedy's Make America Healthy Again campaign. The US President has also pushed for the change, declaring that Coke made with sugar is 'just better'. In a post on his Truth Social platform last week, he said the company had agreed to make the changes. 'I'd like to thank all of those in authority at Coca-Cola. This will be a very good move by them – You'll see. It's just better!' Trump wrote. Coca-Cola confirmed the move yesterday as it revealed revenues rose 2.5 per cent to £9.4billion in the three months to June 27.
