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Essar venture rolls out Rs 900 crore plan for 100 LNG retail outlets – The Times of India

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Essar venture rolls out Rs 900 crore plan for 100 LNG retail outlets – The Times of India


NEW DELHI: Ultra Gas & Energy Ltd (UGEL), a new-age clean-tech venture of the Essar group, plans to invest Rs 900 crore to expand its LNG (liquefied natural gas) retail network for freight carriers to 100 outlets across India, the company said on Monday.It has already commissioned six refuelling stations along major freight corridors. These are located in Bhilwara (Rajasthan), Anand (Gujarat), Chakan-Pune (Maharashtra), Jalna (Maharashtra), Toranagallu (Karnataka), and Vallam (Tamil Nadu), making the clean-burning fuel accessible to freight carriers serving key industrial and logistics hubs.Each outlet is future-ready with integrated infrastructure to support EV (electric vehicle) charging as part of the company’s long-term vision of creating a bouquet of multi-fuel, low-emission mobility solutions. work on building outlets in Gujarat, Tamil Nadu, Maharashtra, Rajasthan, Haryana, Punjab, Karnataka, Odisha, Chhattisgarh and Jharkhand are in progress. Each UGEL station has a scalable capacity of 50 tonnes, capable of refuelling up to 600 LNG trucks per month. Each station can reduce up to 66,000 tonnes of CO₂ emissions annually, collectively reducing 1 million tonnes of CO₂.To ensure uninterrupted operations, UGEL has partnered with IOCL, GAIL, HPCL and other leading LNG suppliers with access to all major LNG terminals of India, ensuring consistent fuel supply and enabling smooth scalability.Strategically placed to serve high-density logistics zones, these stations are accelerating the shift from diesel to LNG – a cleaner and more efficient fuel for long-haul trucking.“Our retail outlets are catalysts for a cleaner, smarter logistics future. Backed by robust infrastructure and intelligent energy solutions, we are proud to lead India’s transition toward greener fuels and sustainable mobility. UGEL vision is firmly rooted in innovation, efficiency, and environmental responsibility,” a company statement quoted CEO Maqsood Shaikh as saying.By enabling commercial fleet to shift away from high-emission fuels to cleaner alternatives such as LNG and electric power, UGEL is delivering both environmental and economic value to its customers, the company said.





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Airlines cancel more than 700 U.S. flights as FAA-ordered shutdown cuts begin

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Airlines cancel more than 700 U.S. flights as FAA-ordered shutdown cuts begin


Travelers wait in line at a security checkpoint at O’Hare International Airport in Chicago, Illinois on November 7 2025.

Kamil Krzaczynski | Afp | Getty Images

U.S. airlines started cancelling hundreds of flights on Friday, hours after the Federal Aviation Administration ordered the cuts amid the more-than-monthlong government shutdown.

The cuts were ordered as air traffic controllers have missed their paychecks due to the government shutdown, now the longest in U.S. history. Air traffic control staffing shortages have been disrupting flights at several major U.S. airports, vexing travelers and airline executives alike.

Air traffic controller shortages were delaying flights at several major U.S. airports on Friday, including Newark Liberty International Airport in New Jersey, San Francisco International Airport and Hartsfield-Jackson International Airport in Atlanta.

The sudden flight cuts this week forced airlines to scramble with schedule adjustments and make sure crews are where they need to be despite the last-minute changes.

More than 700 U.S. flights were canceled as of 9 a.m. ET Friday, according to aviation data firm Cirium, about 3% of the total schedule for the day. That scale of disruption is fairly common for routine disruptions like major thunderstorms, but the Department of Transportation warned that cancellations could ramp up.

According to the FAA’s order, the flight cuts will increase to 10% over the next week, beginning with 4% on Friday, 6% by Tuesday, 8% by Thursday and finally 10% on Nov. 14.

Friday’s cancellation levels were the 72nd worst for the U.S. flights market since Jan. 1, 2024, according to Cirium. That period also included a Southwest Christmas meltdown after severe weather and mass delays at Delta Air Lines last summer in the wake of a CrowdStrike tech outage.

The financial impact of the latest disruptions isn’t immediately clear. The cancellations could help lift airlines’ unit revenue with customers competing for fewer seats, “but we also believe the prolonged shutdown and widespread cancelations will impact booking demand in the near term,” Scott Group, an airline analyst at Wolfe Research, wrote in a note Friday.

The cuts come during a generally low-demand period for travel ahead of the Thanksgiving holiday, but it still sent many travelers searching for alternatives. Rental car company Hertz said that reservations over the past two days for one-way rentals spiked more than 20% from the same period last year.

Major network airlines said the disruptions were largely centered on regional flights that fly to smaller cities. United Airlines, for example, said its hub-to-hub flying and its long-haul international flights wouldn’t be canceled because of the order.

American Airlines, for its part, said it was limiting disruptions to customers by avoiding cuts to routes it only flies once or twice a day. Instead, the airline is trimming a few flights a day from high-frequency markets – like reducing daily departures between its hub at Dallas Fort Worth International Airport to Northwest Arkansas National Airport from 10 to eight, and Boston Logan International to Ronald Reagan Washington National from 10 to nine.

The airline canceled 221 flights on Friday, according to CEO Robert Isom, who said the airline is “frustrated” with the reduction.

Isom said on CNBC’s “Squawk Box” that the airline is working to ensure flights to all destinations still remain in place, but that the frequency of those flight paths are decreasing.

“What we’ve done today is we tried to minimize the impact on all of our customers — there’s only 220 flights out of 6,200, flights, and we’ve done it in a way that really impacts our smaller aircraft,” Isom said. “This level of cancellation is going to grow over time, and that’s something that is going to be problematic.”

What passengers need to know

Airlines offered travelers alternative flights and waived change fees for affected customers.

Experts recommend staying on top of changing schedules by checking airline apps and websites, as well as checking the fine print on travel insurance.

AAA spokesperson Aixa Diaz said the company recommends arriving at the airport 2 hours early to avoid long lines and avoid checking in a bag if possible in case flights get canceled, though flexibility will be the most important for all travelers during this period.

Travel insurance experts warn that policies don’t always offer blanket protection for shutdown-related changes, and that refunds can often come down to the specific rationale used by the airline to determine the cause of delay or cancellation.

According to Lauren McCormick, a spokesperson for travel insurance platform Squaremouth, airlines sometimes won’t cite causes other than general delays even during a shutdown, which could make it harder to get a refund.

Here’s where flights are expected to be cut, per the FAA and DOT order:

Impacted airports:

  1. ANC – Anchorage International
  2. ATL – Hartsfield-Jackson Atlanta International
  3. BOS – Boston Logan International
  4. BWI – Baltimore/Washington International
  5. CLT – Charlotte Douglas International
  6. CVG – Cincinnati/Northern Kentucky International
  7. DAL – Dallas Love
  8. DCA – Ronald Reagan Washington National
  9. DEN – Denver International
  10. DFW – Dallas/Fort Worth International
  11. DTW – Detroit Metropolitan Wayne County
  12. EWR – Newark Liberty International
  13. FLL – Fort Lauderdale/Hollywood International
  14. HNL – Honolulu International
  15. HOU – Houston Hobby
  16. IAD – Washington Dulles International
  17. IAH – George Bush Houston Intercontinental
  18. IND – Indianapolis International
  19. JFK – New York John F. Kennedy International
  20. LAS – Las Vegas McCarran International
  21. LAX – Los Angeles International
  22. LGA – New York LaGuardia
  23. MCO – Orlando International
  24. MDW – Chicago Midway
  25. MEM – Memphis International
  26. MIA – Miami International
  27. MSP – Minneapolis/St. Paul International
  28. OAK – Oakland International
  29. ONT – Ontario International
  30. ORD – Chicago O’Hare International
  31. PDX – Portland International
  32. PHL – Philadelphia International
  33. PHX – Phoenix Sky Harbor International
  34. SAN – San Diego International
  35. SDF – Louisville International
  36. SEA – Seattle/Tacoma International
  37. SFO – San Francisco International
  38. SLC – Salt Lake City International
  39. TEB – Teterboro
  40. TPA – Tampa International

(The airport in Las Vegas was renamed the Harry Reid International Airport in 2021.)

— CNBC’s Greg Iacurci contributed to this report.



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US stock market today: Wall Street futures dip as tech slide deepens; Nasdaq set for biggest weekly drop since March – The Times of India

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US stock market today: Wall Street futures dip as tech slide deepens; Nasdaq set for biggest weekly drop since March – The Times of India


US stock futures edged lower on Friday, setting the stage for a rough weekly finish as worries about economic slowdown and stretched valuations in the technology sector dampened investor sentiment.The three major indexes — the Dow Jones Industrial Average, S&P 500, and Nasdaq, are all on track for steep weekly declines. The Nasdaq, which tumbled nearly 2% on Tuesday, is heading for its worst week since March, while the S&P 500 and Dow are both braced for their biggest weekly losses in four weeks.At 7.30 am ET, Dow futures were down 120 points, or 0.26%, S&P 500 futures slipped 19 points, or 0.27%, and Nasdaq 100 futures fell 90.5 points, or 0.36%.This year’s rally, driven by enthusiasm around artificial intelligence, has sent markets to record highs. But growing skepticism over AI’s profitability and excessive valuations has cooled sentiment in recent sessions.Tesla shares were steady in premarket trading after shareholders approved CEO Elon Musk’s record-breaking pay package. Intel gained 0.8% after Musk hinted at possible discussions to produce chips with the company.Of the 424 S&P 500 firms that have reported third-quarter results so far, 83% have beaten Wall Street expectations, the best showing since mid-2021, according to LSEG data. Typically, about two-thirds of companies surpass estimates.Sandisk shares rose 4% after strong first-quarter earnings, lifting other data storage stocks. However, payments firm Block plunged 15% after missing profit forecasts amid slowing growth and intensifying competition.Meanwhile, the ongoing US government shutdown has created gaps in official economic data, forcing traders and the Federal Reserve to rely on private indicators, which this week painted a mixed picture on jobs and layoffs.





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McDonald’s U.S. boss puts focus on ‘value and affordability’ as consumer spending splits

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McDonald’s U.S. boss puts focus on ‘value and affordability’ as consumer spending splits


McDonald’s Meal Deal photographed in Washington, D.C., on Aug. 26, 2024.

Scott Suchman | The Washington Post | Getty Images

McDonald’s leadership is urging operators to stay the course on value offerings as the competition for consumers plays out across the restaurant space.

In a memo to U.S. operators following the company’s third-quarter earnings, McDonald’s U.S. President Joe Erlinger said the brand was “moving in the right direction” as it continues a more-than-yearlong push on value.

“Amid industry pressures, dynamic change, and aggressive competition, winning the fight for contracting traffic means staying customer-obsessed,” Erlinger wrote in the memo, which was viewed by CNBC. The company did not immediately respond to request for comment.

On Wednesday, McDonald’s reported earnings per share and revenue that came in below Wall Street expectations, but its same-store sales were a bright spot, posting positive growth across all segments.

U.S. same-store sales increased more than anticipated, up 2.4%, thanks to a boost from the $2.99 Snack Wrap launch and the introduction of its Extra Value Meals, which Erlinger said drew week-to-week growth.

“While we maintained a positive comp guest count gap, overall [guest counts] continue to decline– underscoring the need for disciplined pricing, value, and affordability,” he wrote in the memo.

Erlinger said the company has “the right plan in place” and said it was poised for a strong fourth quarter, including the benefit of annual comparisons to last year’s E. coli outbreak that dented burger sales.

“We still need to keep our foot on the gas– staying focused on the customer and what we can control,” he said.

CEO Chris Kempczinski told analysts this week that the fast-food chain is seeing signs of a bifurcated consumer base among quick-service restaurants.

He noted “QSR traffic from lower-income consumers declining nearly double-digits in the third quarter, a trend that’s persisted for nearly two years.

“In contrast, QSR traffic growth among higher-income consumers remains strong, increasing nearly double-digits in the quarter. We continue to remain cautious about the health of the consumer in the U.S. and our top international markets, and believe the pressures will continue well into 2026,” he said.

In a separate memo to global operators, Kempczinski said the brand will continue to focus on “sharpening value leadership to meet evolving consumer expectations and increase traffic.”

He added McDonald’s will be “investing in high-potential menu categories– especially Chicken and Beverages– to stay competitive and drive growth.”

McDonald’s is currently testing beverages in 500 restaurants across Wisconsin and Colorado that draw on learnings from its now-shuttered beverage concept, CosMc’s.



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