Latest news with #European-owned
Vancouver Sun
09-06-2025
- Business
- Vancouver Sun
FlixBus launching London-to-Niagara Falls route for summer
Londoners planning a summer staycation can skip the Toronto transfer and head straight to Niagara Falls as FlixBus launches a new direct route. The intercity bus service is offering a seasonal London-Niagara Falls service as part of its expansion across Southwestern Ontario. The service begins June 9 and will run five days a week – Thursday through Monday – until Sept. 28. 'As more Canadians opt to stay local this summer, we're focused on creating better regional connections to iconic destinations like Niagara Falls,' Karina Frayter, head of communications for Flix North America, said in a statement. Plan your next getaway with Travel Time, featuring travel deals, destinations and gear. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Travel Time will soon be in your inbox. Please try again Interested in more newsletters? Browse here. 'This new line makes it easier for travellers across Southwestern Ontario to enjoy spontaneous day trips or weekend escapes, without the hassle or high costs of driving.' Schedules for the route won't appear in searches until the launch date. Tickets start at $28 and include free Wi-Fi, guaranteed seating and luggage. Stops along the route include: FlixBus launched a London-Toronto route in 2021 after Greyhound shut down operations during the COVID-19 pandemic. The European-owned company, which bills itself as 'North America's fastest-growing intercity bus service,' expanded again in 2023 with a London-Detroit line. That route, an extension of the Toronto-Detroit service, includes stops in Scarborough, Hamilton, Brantford, Chatham-Kent and Windsor. Other companies have entered the market to meet demand. In 2021, St. Thomas-based BadderBus partnered with Megabus, a division of Coach Canada, to offer London-Toronto service. That same year, Mississauga-based Onex Bus also launched a Toronto route. bbaleeiro@
Yahoo
29-05-2025
- Business
- Yahoo
Norsepower to equip six GEFO newbuild tankers with rotor sails
Norsepower, a provider of wind propulsion systems, has signed an agreement to equip six newbuild tankers from GEFO Shipping Group with its Norsepower Rotor Sails. The order includes four 3,850dwt chemical tankers, each fitted with a 20mx4m rotor sail, and two 7,900dwt chemical tankers, each equipped with a 28mx4m rotor sail. The vessels, designed by the German firm SDC Ship Design & Consult, have integrated wind propulsion from the initial design phase to maximise performance and efficiency. Built by Nantong Xiangyu Shipbuilding, the vessels will be delivered between 2026 and 2028. The vessels have received backing from the German Government's Namkue Fund (Nachhaltige Modernisierung von Küstenschiffen), a financial initiative designed to promote sustainable coastal shipping and expedite the adoption of decarbonisation technologies. The deal marks the first collaboration between Norsepower, GEFO, and Nantong Xiangyu Shipbuilding, signifying a move towards the adoption of wind propulsion in European-owned fleets, according to Norsepower. GEFO technical director Ing. Henning Brauer said: 'At GEFO, we are committed to building a future-ready fleet that meets the highest standards of environmental performance and operational efficiency. 'Partnering with Norsepower allows us to integrate proven wind propulsion technology into our newbuilds from day one — supporting both our sustainability targets and our long-term competitiveness.' The rotor sails include Norsepower's EX-compliance design, which has been certified for use on vessels carrying flammable cargoes and adheres to all classification and safety standards. Manufactured in Norsepower's dedicated factory in China, the rotor sails will be delivered to the shipyard fully assembled and tested, ready for installation. Furthermore, GEFO will benefit from the Norsepower Digital Dimension, which offers access to the AI-driven Norsepower Sentient Control system and the secure, cloud-based data infrastructure of Norsepower Cloud. This integration facilitates accurate real-time performance optimisation, predictive maintenance, and complete transparency regarding emissions savings for clients. Norsepower CEO Heikki Pöntynen said: 'This is a landmark agreement for Norsepower, not just because it involves two new customers and six vessels — but because it signals a fundamental shift in how wind propulsion is perceived in commercial shipping. 'We are no longer talking about one-off pilot installations; we are now securing full fleet commitments. That is a clear sign we have not only opened the market, but we are now leading it — both in terms of proven delivery capacity and customer trust.' Recently, Norsepower signed a strategic memorandum of understanding (MoU) with COSCO Shipping Heavy Industry Equipment (Nantong) to boost the production and distribution of Norsepower Rotor Sails in China, leveraging the world's first dedicated rotor sail factory in Dafeng. Norsepower also announced the launch of Norsepower True Performance, a new platform for measuring and monitoring wind propulsion performance in maritime operations. "Norsepower to equip six GEFO newbuild tankers with rotor sails" was originally created and published by Ship Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Local Sweden
12-03-2025
- Business
- Local Sweden
'To early to say' if Sweden will give foreign Northvolt staff special help
At a press conference held after the company was declared bankrupt on Wednesday, Persson was asked whether engineers from countries outside the EU would be exempted from a rule requiring them to get a new job within three months of being made redundant or lose their right to be resident in Sweden. The government, he said, did not intend to put into place any special measures, but would instead rely on the country's well-established system for major bankruptcies and lay-offs. "This is precisely the same support system that we always kick into action when there is this kind of crisis," he said. "This is precisely the same model that has served Sweden so well." It was, he said, "a little too early to answer" questions over "how many are from other countries and how many are born in Sweden and so on", saying this was something that needed to be "analysed calmly" together with the municipality and the company. He expressed his sympathy with all of those affected by the decision to put Northvolt into bankruptcy. "I have of course a great understanding for the turbulence, the worry, and that you might feel a bit dazed on a day like this," he said. "This is a tough decision and this is something I mean both sincerely and with consideration, Swedish society is built to handle this sort of crisis." Workers made redundant will first be supported by a salary guarantee, after which they will be eligible for A-kassa unemployment benefits and support to retrain to make themselves more employable. He emphasised, however, that Sweden has a tradition of not intervening to prop up failing companies. "Our starting principle is that we don't, perhaps unlike other countries, generally support individual companies. We do not rescue specific jobs but we support people in finding new ones and we support people in a tough time," he said. At the same press conference, Sweden's business minister Ebba Busch said that she still hoped that a way could be found to keep Northvolt's battery factories in Skellefteå and Västerås operating. "I hope of course that the operation will now be able to find a new long-run owner, and that is something the state is of course ready to support," she said. She expressed scepticism, however, about the possibility of a Chinese buyer stepping in, arguing that a key part of Northvolt's strategic rationale had been that it was a European-owned battery producer. "It's not the case that there's been a lack of players in the battery market, it's more that we've had a surplus of battery manufacturers in Europe, of whom very few have been European," she said. "That [being a European company] has been their big competitive advantage. That's a choice the company itself can make if it doesn't want to have that unique selling point." There was a bigger picture, she continued, above and beyond the individual case of Northvolt, which was the anti-competitive behaviour from China and the US, and the need to build up European independence in strategic industries like batteries. "The playing field is not fair for battery manufacturers in the European market and it probably never has been," she said. "I think Europe has been far too naive in many of the critical parts of the green transition in the face of competition from countries who act in ways that would never be acceptable within the EU's own territory, but which right now is what is knocking out otherwise viable European companies." In the same way that Europe is now ramping up its military defence, she said, it needed to build up independent production in the key technologies needed for the green and digital transitions. "If we're going to rearm Europe and Sweden to be strong in a real way we can't just do it militarily," she said. "We also need to look at those parts of our business sector which allow us to safeguard our independence and which also safeguard the growth which means that we can continue to finance both our defence and our welfare going forward."
Yahoo
31-01-2025
- Automotive
- Yahoo
Jeep Has 3 All-New Nameplates Coming, Stellantis Says
The U.S.-based wings of Stellantis are doing their best to strike back against lagging sales, with brands like Ram and Jeep fighting to reclaim the narrative and boost hopes by announcing the future is near and new, desirable models are on the way. Jeep is allegedly moving up timing on the all-electric Recon, and Ram is bringing its own mid-size truck back — but Stellantis says that isn't all. That's because the European-owned automotive conglomerate is making some big announcements fresh off the heels of the National Automobile Dealers Association in New Orleans, Louisiana. Namely, Jeep will be launching three all-new nameplates as well as three new powertrains — one gas, one electric, and one hybrid — according to a quietly released news roundup from the convention. Details about the incoming models are scarce, but we have some ideas of what's to come for the iconic American SUV brand. We suspect one of the three inbound nameplates is Jeep's newest 4x4, known as the Recon. The Recon had been lightly teased in 2022 as a battery-powered homage to the XJ-generation of the Jeep Cherokee, but its modern role will likely be that of an electric Ford Bronco competitor. Preliminary specifications suggest the Recon will put down anywhere from 450 hp to 600 hp and will benefit from the Selec-Terrain traction management system plus e-locker axle technology. Jeep CEO Antonio Filosa hinted at the possibility of a hybrid version of the Recon coming out later on, but he affirmed that it was battery-electric only to begin with. That means the Recon checks off one of the nameplates, and also the EV powertrain component of Jeep's latest announcement. But what about the other two? To find out more, we dug through filings with the United States Patent and Trademark Office's filings to look for clues and spotted some potential answers. Jeep has kept trim levels and nameplates like Sahara and Islander active with the USPTO for decades now, but we're taking Jeep at their word when it says these nameplates are "all new," not reappropriated trims. That eliminates a good portion of the lightly used intellectual property filings — but Stellantis (who still files U.S. model patents and trademarks under the Fiat Chrysler Automobiles name) has a few unused titles left up its sleeve. Specifically, we found two names that have yet to be applied to any FCA product and have both been filed within the two years One of these nameplates is simply the word "Vivid," a trademark that Chrysler filed back in 2023. Initial speculation surrounding the Vivid nameplate said it would soon be attached to the Chrysler Airflow concept, an all-electric crossover supposedly built on Stellantis' STLA platform that has yet to be born. It's been a long time since the company has even mentioned the Airflow model, indicating that the Vivid name could be reinterpreted onto a Jeep platform. FCA asked for an extension on the Vivid nameplate as recently as December 2024, indicating the brand is hesitant to let go of the trademark. Given the alleged electrified background of the Vivid nameplate, perhaps it would check the hybrid powertrain box. However, we'll admit that Vivid doesn't exactly line up with the pattern of Jeep branding. That said, the name "Catalyst" might work better. FCA has just officially published a trademark for that moniker, with official documents filed as recently as January 7. Our research indicates that no Dodge, Ram, Chrysler, or Jeep product has previously carried the Catalyst name, making it a strong potential candidate for one of the new seven-slot grilled models. Jeep has kept two concept names around for some time, too. "Quicksand" and "Switchback" may ring a bell to Jeep fans, but it's been at least five years since either of the monikers were used. Both were used as concept names, with the Quicksand being a hot-rodded Wrangler and the Switchback a Moab-ready overlander, but neither came to life as production models. We're hesitant to lean into the possibility of these concepts coming to life now, but we wouldn't be surprised if Jeep revived the names. You Might Also Like You Need a Torque Wrench in Your Toolbox Tested: Best Car Interior Cleaners The Man Who Signs Every Car
The Guardian
26-01-2025
- Business
- The Guardian
With Davos dominated by Trump's second coming, global collaboration is out
In the heady mountain air of Davos last week, away from the parties and the back-slapping tech bros, another, more beleaguered crew touted their wares: the multilateralists. On the sidelines of the World Economic Forum, representatives of aid agencies, development banks and multilateral lenders grabbed a moment with the many world leaders present, vying for attention among the glitz. But at a summit dominated by the second coming of Donald Trump, and where the overwhelming concentration of power in the hands of a few giant corporations was blatant, theirs seemed like voices from another age. Trump's arrival in the White House cements a shift that began even before his first term: away from the relentless march of globalisation, towards a more fragmented world. Russia, once welcomed into what became the G8, is promulgating a war in Europe, its economy now walled up behind sanctions; China and the US are vying for geopolitical dominance. As EU Commission chair Ursula von der Leyen put it, 'we have entered a new era of harsh geostrategic competition'. Adapting themselves to Trump's transactional, zero-sum worldview, global leaders ditched any appeal to high-flown ideas, and rattled out negotiating points. Von der Leyen highlighted the 3.5 million Americans employed by European-owned firms in the US. UK trade secretary Jonathan Reynolds pointed out that we lack the large surplus in goods that might put us in Trump's line of fire. Nationalism is in. Grand global ideals, not so much. Yet as Mathias Cormann, the determinedly optimistic secretary general of the Organisation of Economic Cooperation and Development (OECD) told me when we met in Davos, the world still urgently needs countries to collaborate. 'Multilateralism is never easy,' he said. 'It's always difficult, but that doesn't make it any less necessary. There are a whole range of issues that can only be effectively tackled through global cooperation.' He pointed to tax reform, where the OECD is the convener of the years' long project to tackle avoidance by multilaterals; and to the climate crisis. Both of these issues are urgent, and climate in particular is likely to take a back seat under Trump – his video-linked speech on Thursday included a lengthy digression on the merits of coal. But at least on climate there is a global agreement – the Paris treaty – and its other signatories should continue to implement their part of the bargain. Von der Leyen said the EU would 'stay the course'. There is another urgent issue which Trump's policies risk exacerbating, and for which there currently appears little chance of progress: debt relief for the world's poorest countries. Many economists fear Trump's tariff plans will drive up US inflation, risking higher interest rates and a stronger dollar. For countries with hefty dollar-denominated loans, that would mean a jump in the cost of servicing their debts. Already, debt repayments for lower-income countries as a share of government revenues are at the highest level in 30 years, according to World Bank data. There are 32 African countries that spend more on debt servicing than on health. There is a G20 process for helping countries whose repayments become unmanageable, administered by the IMF: the Common Framework. But charities complain it is a sticking plaster that leaves countries saddled with unsustainable debt. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Achim Steiner, head of the UN Development Programme, told me: 'We estimate about 58 countries are still in a situation where the levels of debt and the level of debt servicing are so significant that they are taking resources away from some of the fundamental sectors, such as education and health. For some countries it is becoming an existential problem'. He suggested the G20 finance ministers' meeting in South Africa next month was the right forum for tackling the issue – but doubted member countries would show the leadership required. Readers with long memories may recall a time when it was the UK, under a Labour government, that provided the leadership to tackle unsustainable debt, as Gordon Brown cajoled and entreated global leaders to deliver a jubilee. According to Steiner: 'We need to learn from the last time, when we had essentially a moment where we said: 'Look, there's no point in holding on to this debt, because it, first of all, will never be repaid. Second, it's causing more problems than it's actually solving.'' A quarter of a century on, many senior figures in the UK's aid sector are deeply depressed at the new Labour government's failure to make development a priority. On Monday, a coalition of charities, including Save the Children, Debt Justice, Cafod and Oxfam, will rally outside the Treasury to mark the start of a campaign calling on the government to lead the way on debt relief. They have a tough fight on their hands. Labour strategists believe the politics of overseas aid are all wrong: they fear their 'hero voters' want to see domestic problems tackled before we extend the hand of kindness overseas. Yet the UK has a special responsibility, given that the biggest group of creditors are private lenders, and 90% of their contracts are governed by UK law. These investors need to be involved in write-offs, alongside official lenders. China, which has stepped up lending in recent years, would also have to participate. Delegates to Davos last week were left in no doubt that global collaboration is deeply unfashionable. In this chilly climate, assembling a coalition to tackle unsustainable debt is a tough ask. Yet some things are worth fighting for, and the accelerating pace of technological change means countries trapped in debt are sentenced to fall ever further behind. The UK's charities are right to urge Labour to step up.
