More carmakers caught in headlights of VW engine-rigging scandal

More carmakers caught in headlights of VW engine-rigging scandal
Volkswagen has admitted it installed illegal software into 11 million 2.0 liter and 3.0 liter diesel engines worldwide (AFP Photo/Josh Edelson)

Volkswagen emissions scandal

Iran's 'catastrophic mistake': Speculation, pressure, then admission

Iran's 'catastrophic mistake': Speculation, pressure, then admission
Analsyts say it is irresponsible to link the crash of a Ukraine International Airline Boeing 737-800 to the 737 MAX accidents (AFP Photo/INA FASSBENDER)

Missing MH370 likely to have disintegrated mid-flight: experts

Missing MH370 likely to have disintegrated mid-flight: experts
A Malaysia Airlines Boeing 777 commercial jet.

QZ8501 (AirAsia)

Leaders see horror of French Alps crash as probe gathers pace

"The Recalibration of Awareness – Apr 20/21, 2012 (Kryon channeled by Lee Carroll) (Subjects: Old Energy, Recalibration Lectures, God / Creator, Religions/Spiritual systems (Catholic Church, Priests/Nun’s, Worship, John Paul Pope, Women in the Church otherwise church will go, Current Pope won’t do it), Middle East, Jews, Governments will change (Internet, Media, Democracies, Dictators, North Korea, Nations voted at once), Integrity (Businesses, Tobacco Companies, Bankers/ Financial Institutes, Pharmaceutical company to collapse), Illuminati (Started in Greece, with Shipping, Financial markets, Stock markets, Pharmaceutical money (fund to build Africa, to develop)), Shift of Human Consciousness, (Old) Souls, Women, Masters to/already come back, Global Unity.... etc.) - (Text version)

“… The Shift in Human Nature

You're starting to see integrity change. Awareness recalibrates integrity, and the Human Being who would sit there and take advantage of another Human Being in an old energy would never do it in a new energy. The reason? It will become intuitive, so this is a shift in Human Nature as well, for in the past you have assumed that people take advantage of people first and integrity comes later. That's just ordinary Human nature.

In the past, Human nature expressed within governments worked like this: If you were stronger than the other one, you simply conquered them. If you were strong, it was an invitation to conquer. If you were weak, it was an invitation to be conquered. No one even thought about it. It was the way of things. The bigger you could have your armies, the better they would do when you sent them out to conquer. That's not how you think today. Did you notice?

Any country that thinks this way today will not survive, for humanity has discovered that the world goes far better by putting things together instead of tearing them apart. The new energy puts the weak and strong together in ways that make sense and that have integrity. Take a look at what happened to some of the businesses in this great land (USA). Up to 30 years ago, when you started realizing some of them didn't have integrity, you eliminated them. What happened to the tobacco companies when you realized they were knowingly addicting your children? Today, they still sell their products to less-aware countries, but that will also change.

What did you do a few years ago when you realized that your bankers were actually selling you homes that they knew you couldn't pay for later? They were walking away, smiling greedily, not thinking about the heartbreak that was to follow when a life's dream would be lost. Dear American, you are in a recession. However, this is like when you prune a tree and cut back the branches. When the tree grows back, you've got control and the branches will grow bigger and stronger than they were before, without the greed factor. Then, if you don't like the way it grows back, you'll prune it again! I tell you this because awareness is now in control of big money. It's right before your eyes, what you're doing. But fear often rules. …”

Thursday, April 30, 2020

Boeing to cut staff, plane output after big Q1 loss

Yahoo – AFP, April 29, 2020

Boeing announced sweeping cost-cutting measures after reporting a first-quarter loss
of $641 million following the hit to the airline business from the coronavirus pandemic
(AFP Photo/SCOTT OLSON)

New York (AFP) - Boeing announced sweeping cost-cutting measures Wednesday after reporting a first-quarter loss of $641 million following the hit to the airline business from the coronavirus pandemic.

The aerospace giant plans to reduce its workforce by 10 percent through a combination of voluntary and involuntary layoffs and will slash production of its main commercial planes, including the 787 and 777, Chief Executive David Calhoun said in a message to employees that accompanied an earnings release.

"The aviation industry will take years to return to the levels of traffic we saw just a few months ago," Calhoun said. "We have to prepare for that."

Calhoun said the job cuts would be deeper -- more than 15 percent -- in commercial airplanes and services, as compared with defense and space systems, where the business has been more stable.

The quarterly loss of $641 million compared to profits of $2.1 billion in the year-ago period. Revenues fell 26.2 percent to $16.9 billion.

Total debt at the end of the quarter was $38.9 billion, up from $27.3 billion at the end of December.

Calhoun said the belt-tightening was needed to maintain adequate liquidity at a time its revenues are depressed, adding that the company is "exploring potential government funding options" in the wake of COVID-19.

Boeing has previously called for $60 billion in government support for the US aerospace industry. Federal relief legislation includes $17 billion aimed at Boeing. Calhoun has previously balked at the idea of the US taking a stake in Boeing.

The loss reflected "abnormal production costs" connected to the temporary suspension of Puget Sound manufacturing operations due to COVID-19 and due to the suspension of production of the 737 MAX, which remains grounded following two deadly crashes.

Boeing said the pandemic crisis has hit demand for new planes and services, with airlines delaying purchases of jets, slowing delivery schedules and deferring elective maintenance.

It will cut production of the 787 from 14 per month to 10 per month in 2020 and gradually to seven per month by 2022.

Boeing also will trim output on the 777 and lower its targets for the 737 MAX.

"We have done a tremendous job of increasing our production rates and services offerings in recent years," Calhoun said. "But the sharp reduction in our demand for our products and services over the next several years simply won't support the higher levels of output."

Boeing shares jumped 4.1 percent to $136.36 in pre-market trading.

Wednesday, April 29, 2020

Icelandair Cuts 2,000 Staff Over Coronavirus Impact

Barron’s – AFP, Alexander Klein, April 28, 2020

Icelandic airline Icelandair announced deep job cuts due to the effects of the
novel coronavirus crisis

Icelandic airline Icelandair said Tuesday it would lay off about 2,000 of its staff as the COVID-19 pandemic continues to impact air travel "for the unforeseeable future."

In response to the impact, Icelandair said the company was preparing for an "extended period of minimum operations."

The company said that "the employment of around two thousand employees will be terminated," adding that crew, maintenance and ground operations, would be most affected.

Icelandair added that the "majority of the remaining employees continue in part-time roles" and those in full-time positions would be affected by salary reductions.

"These measures are very painful yet necessary. We are facing considerable uncertainty for the unforeseeable future," Bogi Nils Bogason, CEO of Icelandair, said in a statement.

Bogason added that they hoped to be able to offer those affected employment again once markets started to recover.

In 2018, Icelandair had some 4,600 full-time employees and carried 4.4 million passengers, according to the company.

As of Tuesday, Iceland had confirmed 1,795 cases of the new coronavirus and 10 deaths.

Related Article:


Wednesday, March 18, 2020

New Dutch law allows mass claim against Volkswagen over Dieselgate

DutchNews, March 17, 2020 - By Robin Pascoe 

Photo: Depositphotos.com

A Dutch foundation is taking car maker Volkswagen to court on behalf of 8.5 million car owners to demand compensation for manipulating emissions tests in the Dieselgate scandal. 

The Diesel Emissions Justice Foundation is taking advantage of new legislation in the Netherlands allowing mass claims and giving plaintiffs the right to go to court if the company concerned refuses to reach a settlement. 

Robert Bosch, the company which developed the software used to fiddle the emissions reports, car importer Pon and a number of Dutch car dealers are also named on the legal documents. 

In autumn 2015, Volkswagen admitted that it had sold 11 million cars worldwide with secret ‘defeat device’ software that ensured it would pass emissions tests in a laboratory, while the cars emitted higher levels of pollution on the road. 

‘This law offers access to justice for millions of injured customers, both within and outside the Netherlands,’ said the foundation’s managing director Femke Hendriks in a statement. ‘Volkswagen has rejected our invitation to engage in negotiations, which compels us to go all the way.’ 

The car company’s actions, she said, had caused ‘tremendous harm’ to consumers, the environment and public health. ‘It is time for Volkswagen to be presented with the bill for its fraudulent actions across Europe.’ 

Fines 

Volkswagen has already paid billions in damages and fines as a result of legal proceedings in the US, Australia, Canada and South Korea but has largely escaped in Europe. 

In February the company agreed to pay out €830m to 400,000 drivers following a case brought by German consumer groups. 

‘This is the first time that Volkswagen has taken responsibility for its actions in Europe and is attempting to dispel the past, although only for a small part of affected consumers and for relatively small amounts,’ Hendriks said. 

In 2017, the Dutch consumer and markets association fined Volkswagen €450,000 for ‘unfair commercial practices’ for advertising cars as eco-friendly ‘while the results of emission tests had been manipulated by illegal software.’ 

No basis 

Volkswagen told DutchNews.nl in a reaction that when the case starts, Volkswagen will defend itself, ‘as it believes there is no basis for the compensation of damages or other remedies for consumers in the Netherlands’. 

‘Our customers in the Netherlands have not suffered any loss or damage, as all cars can be used in traffic and are safe,’ the statement said. ‘They are still driven by more than a hundred thousand customers every day. All necessary approvals are valid and in place. For these reasons, we see no legal basis for customer complaints. This new initiative does not change this position.’

Sunday, March 1, 2020

Luxembourg becomes first country with free public transport

Yahoo – AFP, Catherine KURZAWA, February 29, 2020

Private cars are the most used means of transport in Luxembourg, but the government
is hoping to change that with the new free ride policy (AFP Photo/JEAN-CHRISTOPHE
VERHAEGEN)

Luxembourg (AFP) - Luxembourg on Saturday became the first country in the world to offer free public transport, as the small and wealthy EU country tries to help less-well-off workers and reduce road traffic.

Some cities elsewhere have already taken similar, partial measures. But the transport ministry said it was the first time such a decision covered an entire country.

The free transport, flagged as "an important social measure", affects approximately 40 percent of households and is estimated to save each one around 100 euros ($110) per year.

Not all passengers were aware of the change, which was brought forward one day ahead of schedule.

"It's free? I didn't know," said a woman in her 50s who gave her first name as Dominique as she waited at Luxembourg's main train station.

Transport workers were concerned about what impact the measure would have on their job security.

"We don't yet know" what will happen to their positions, said one ticket seller at the station who declined to give his name.

"All the public transport workers are worried. It's not yet clear."

Traffic woes

The measure is part of a plan intended to reduce congestion.

Private cars are the most used means of transport in the Grand Duchy, accounting for 47 percent of business travel and 71 percent of leisure transport.

Luxembourg has invested in its public transport network, but commuters complain
it is still patchy (AFP Photo/JEAN-CHRISTOPHE VERHAEGEN)

With more than 200,000 people living in neighbouring France, Germany and Belgium who work in Luxembourg and most of them driving in, that makes for major traffic jams at peak hours.

The population of the tiny country is just 610,000 and those cross-border workers account for half the total employees.

The capital city of Luxembourg has invested in its public transport network, notably by building a tram network, but commuters complain it is still patchy.

It will be some years before the network links to the northern airport, for instance.

"There's been an enormous delay to the development of public transport," said Blanche Weber, head of the Luxembourg Ecological Movement pressing for better links on environmental grounds.

"Systematic and continuous investment is a sine qua non (essential) condition for promoting the attractiveness of public transport," admitted transport minister Francois Bausch.

Sales of tickets on the domestic network -- which cost two euros per journey -- previously covered just eight percent of the 500-million-euro cost of running the transport system. That shortfall will now be met from the treasury.

Ticket machines are to be gradually removed from stations, but offices selling tickets for international train trips and for first-class seating in Luxembourg -- which continues to be a paying service -- will remain.

Friday, February 28, 2020

Climate campaigners win appeal to block new Heathrow runway

Yahoo – AFP, February 27, 2020\

.Opponents welcome an appeal ruling against building a controversial third
runway at London's Heathrow airport, Europe's busiest. (AFP Photo/Niklas HALLE'N)

London (AFP) - Britain's Court of Appeal on Thursday ruled in favour of green campaigners who oppose the building of a third runway at London's Heathrow airport, Europe's busiest.

The court said the UK government -- which in 2018 approved the Heathrow extension -- had failed to take into account its commitments to the Paris Agreement to limit climate warming.

The legal action against the approval was brought by various London councils, environmental groups including Greenpeace and Friends of the Earth, and London Mayor Sadiq Khan. They lost at an original hearing in May.

In a summary, judge Keith Lindblom said the Conservative government under then-prime minister Theresa May gave no explanation of how it took into account the 2015 Paris accord -- which seeks to cap climate warming to less than two degrees Celsius.

"The Paris Agreement ought to have been taken into account... and an explanation given as to how it was taken into account, but it was not," Lord Justice Lindblom said.

The judge added that the government did not oppose its declaration -- and had not sought permission to appeal to London's Supreme Court.

In 2015 while he was London mayor, British Prime Minister Boris Johnson promised to "lie down in front of... bulldozers and stop the construction" of a third runway, citing environmental as well as aesthetic concerns.

Johnson may still have to make an official decision on scrapping the project, however, after Heathrow airport -- which is owned by a consortium led by Spanish construction giant Ferrovial -- declared it would appeal Thursday's ruling.

Khan welcomed news of Thursday's landmark legal victory.

"We won! Today we blocked the Tory government plans to build a third runway at Heathrow Airport," the London mayor said.

"Today's judgement is a major victory for all Londoners who are passionate about tackling the climate emergency and cleaning up our air."

John Sauven, executive director of Greenpeace UK, called on Johnson to now formally axe the plans.

"Boris Johnson should now put Heathrow out of its misery and cancel the third runway once and for all. No ifs, no buts, no lies, no U-turns," Sauven said.

Prior to the ruling, building of the third runway had been expected to start in 2022 and take four years.

Johnson, who wants big infrastructure projects to help drive Britain's post-Brexit economy, earlier this month gave his backing to the high-speed railway link HS2, dismissing soaring costs.

Wednesday, February 26, 2020

Schiphol tests speed limiting system for super fast e-bikes

DutchNews, February 25, 2020 

Photo: Depositphotos.com

Schiphol airport is to test an automatic braking system to reduce the speed of fast e-bikes and speed pedelecs around the airport to improve safety, airport officials announced on Tuesday. 

The test is part of a plan introduced by Schiphol with construction company BAM Infra and bike maker Gazelle in 2018. The aim is to ease congestion and promote cycling, including a 22km cycling route especially for fast bikes  Only 4,000 of the airport’s 66,000 staff currently cycle to work. 

The system, called the Intelligent Speed Assistent (ISA), would automatically limit the velocity of the bike to normal peddling speed on approaching the airport via a link to the GPS network. 

Cyclists would be warned that they are approaching the lower speed zone and, if they have an ISA fitted, the motor power would prevent the bike from travelling too fast. 

If the Schiphol test is successful, speed limiting systems could also be used to reduce problems caused by fast electric bikes in the centre of Amsterdam as well, Kees Bakker of cyclists organisation Fietsersbond told the Parool. 

Automatically limiting the speed would make it possible for people using super fast bikes to use the cycle paths. They are now required to use the main road. 

Asked if an outside intervention in their speed would be an infringement of cyclists’ freedom Bakker said e-bikes are already limited in how fast they can go. ‘You should look at it from another perspective: the system allows you to go faster where it is possible.’

Thursday, January 30, 2020

Boeing reports first loss since 1997 as MAX costs rise to $18.6 bn

Yahoo – AFP, John BIERS, January 29, 2020

Boeing reported its first annual loss in more than two decades as the lengthy
grounding of the 737 MAX weighed on revenues and added to costs (AFP Photo/
Jason Redmond)

New York (AFP) - Boeing reported its first annual loss in more than two decades Wednesday as the lengthy grounding of the 737 MAX undercut the company's revenues and exploded costs.

The aerospace giant reported a $1.0 billion loss in the fourth-quarter and a loss of $636 million for all of 2019, the company's first year in the red since 1997.

Newly-installed Chief Executive David Calhoun, who took the reins this month to stabilize the situation, pledged to turn the company around even as Boeing disclosed $9.2 billion in additional costs connected to the MAX, essentially doubling the bill from the disaster.

Some analysts had expected new costs twice as high, and despite the hefty charges, Boeing shares advanced Wednesday.

The MAX has been grounded since March following two crashes that killed 346 people that opened the doors to intense scrutiny of Boeing's safety practices, as well bruising congressional investigations which have revealed a troublesome culture at the aviation giant.

"We are committed to transparency and excellence in everything we do," Calhoun said in a statement. "Safety will underwrite every decision, every action and every step we take as we move forward."

Calhoun has been at the helm of Boeing only since January 13 after Dennis Muilenburg was ousted in December following criticism of his handling of the crisis, and immediately after a damning series of internal communications were released.

Calhoun is targeting mid-2020 to win approval from aviation regulators to resume flights on the MAX, which is seen as a realistic timeframe after Muilenburg repeatedly pushed a more optimistic schedule.

Calhoun told CNBC that he was "confident as a CEO can be" of the current timetable, adding that "we put together a schedule we think we can make."

Higher costs

The grounding of the MAX dented Boeing's earnings in multiple ways, among the most damaging of which was a halt in deliveries of new planes to customers, a major source of revenue.

Boeing revenues in the fourth quarter plunged 36.8 percent to $17.9 billion, while revenues for all of 2019 dropped 24.3 percent to $76.6 billion.

The crisis also prompted the manufacturer to first reduce and then halt production of the MAX.

Boeing said Wednesday the changes in the production schedule added $2.6 billion in costs connected to airplane deliveries, plus another $4 billion in "abnormal production costs," which are primarily in 2020 and associated with the suspension of the MAX plus a "gradual resumption" of production.

Chief Financial Officer Greg Smith said MAX production will be at "low rates" in 2020, with increases "over the next few years."

The company set aside $2.6 billion to compensate airlines that have been forced to cancel thousands of flights due to grounded MAX planes and undelivered aircraft.

With these costs and expenses disclosed previously, the total impact on Boeing is $18.6 billion.

Ripple effects

The MAX crisis has also weighed on numerous suppliers, such as Spirit AeroSystems, which announced earlier this month that it would lay off 2,800 employees in Kansas due to the production stoppage.

And General Electric, which builds engines for the MAX, said the crisis lowered cash flow by $1.4 billion for 2019.

Boeing also announced Wednesday that it would again cut back production of the 787 Dreamliner, a top-selling plane that has supported revenues during the protracted 737 MAX grounding.

The aerospace giant plans to trim production to 10 airplanes a month in early 2021 through 2023 based on the "near-term market outlook," Boeing said.

The company in October had dropped production to 12 a month from 14 due to lower orders from China.

A note from JPMorgan Chase said Boeing's charges on the MAX were "less than feared," although the company was expending cash at a faster rate than expected. Boeing has reportedly lined up $12 billion in loans, but "balance sheet management" in 2020 will be an area for questions, the note said.

In another non-MAX development, Boeing set aside $410 million to cover costs of an additional uncrewed mission after the December NASA flight did not reach the International Space Station.

"NASA is evaluating the data received during the December 2019 mission to determine if another uncrewed mission is required," Boeing said.

Boeing shares rose 2.2 percent to $323.66 in early-afternoon trading.

Sunday, January 26, 2020

Boeing's new 777X airliner takes off on first flight

Yahoo – AFP, Jason REDMOND, with Christophe VOGT in Washington, January 25, 2020

The snow-covered Olympic Mountains are pictured in the background as a
Boeing 777X airplane takes off on its inaugural flight at Paine Field in Everett,
Washington in the United States on January 25, 2020 (AFP Photo/Jason Redmond)

Everett (United States) (AFP) - Boeing's new long-haul 777X airliner made its first flight on Saturday, a step forward for the company whose broader prospects remain clouded by the 737 MAX crisis.

The plane took off from a rain-slicked runway a few minutes after 10:00 am local time (1800 GMT), at Paine Field in Everett, Washington, home to Boeing's manufacturing site in the northwestern United States.

Weather conditions had already twice delayed the inaugural takeoff of the plane, which sports blue and white company colors and is emblazoned with the Boeing name.

High winds led to its postponement on Friday, and the company blamed weather for an earlier delay on Thursday, which was rainy.

"Yes!" shouted Boeing spokesman Josh Green as the plane's wheels finally lifted off the tarmac as its two powerful engines sent up huge clouds of mist.

Minutes earlier, the pilots had deployed the plane's winglets -- folding wing tips -- designed to improve the craft's fuel efficiency and make it possible for the plane, with the widest wing span ever from Boeing, to be accommodated at more airports.

A Boeing 777X airplane taxis before taking off on its inaugural flight at Paine 
Field in Everett, Washington in the United States on January 25, 2020 (AFP Photo/
Jason Redmond)

The 777X quickly disappeared into the clouds; after a flight lasting several hours, it was to land later at Boeing Field in a Seattle suburb, some 30 miles (50 kilometers) to the south.

The 777X was originally to take to the skies for the first time in mid-2019, but that was postponed due to problems with the new engine, manufactured by General Electric, and difficulties with the wings and software.

Saturday's flight was to be the first of a series of in-flight tests. If they go well, Boeing will officially file for approval from the Federal Aviation Administration (FAA).

With Boeing facing a crisis over its top-selling 737 MAX following two deadly crashes, the 777X is supposed to compete in the long-haul aircraft market with the A350 made by rival European aircraft manufacturer Airbus.

Major airlines including Emirates, Lufthansa, Cathay Pacific, Singapore Airlines and Qatar Airways have placed some 340 orders for the 777X.

The first deliveries of the new model, with maximum capacities of 384 to 426 passengers depending on the configuration, are not expected before early 2021, instead of mid-2020 as initially planned.

Boeing employees and others watch as a Boeing 777X airplane taxis before taking 
off on its inaugural flight at Paine Field in Everett, Washington in the United States 
on January 25, 2020 (AFP Photo/Jason Redmond)

The aircraft encountered significant problems during pressurization tests in September.

Business down

Boeing's business has also been weakened by a lack of firm orders from Chinese airlines for its 787 Dreamliner, which is expected to see production cuts.

The 777X has a range of 16,200 to 13,500 kilometers depending on its configuration and the number of passengers aboard, according to the Boeing website. It is also extremely fuel-efficient, an important consideration at a time when passengers are increasingly concerned about carbon emissions.

Its list price is between $410 million to $442 million, though customers often negotiate discounts.

US air safety regulators could clear the 737 MAX to return to service before mid-year, a person close to the process said Friday.

A pilot gives a thumbs up as he taxis a Boeing 777X airplane before taking off on 
its inaugural flight at Paine Field in Everett, Washington in the United States on 
January 25, 2020 (AFP Photo/Jason Redmond)

The plane has been grounded since March following two deadly crashes, in Ethiopia and Indonesia. On Tuesday, Boeing announced that it did not expect to win regulatory approval until mid-2020.

Boeing suspended production of the MAX this month but Chief Executive David Calhoun said this week the company plans to begin ramping up production of the model in anticipation of winning regulatory approval to restart service.

Calhoun began as CEO earlier in January following the ouster of Dennis Muilenburg, who tenure was rocked by the MAX crisis which led to deteriorating relations between the company and the FAA.

Calhoun aims to turn the company around, and has highlighted restoring Boeing's reputation with regulators, customers and other stakeholders as an imperative.

Thursday, January 23, 2020

Tesla value hits $100 bn, triggering payout plan for Musk

Yahoo – AFP, January 22, 2020

Tesla chief Elon Musk, during the delivery ceremony for the firm's China-made
Model 3 in Shanghai in January 2020 (AFP Photo/STR)

New York (AFP) - Tesla's market value hit $100 billion for the first time Wednesday, triggering a payout plan that could be worth billions for Elon Musk, founder and chief of the electric carmaker.

Shares in Tesla rose some 4.8 percent in opening trade to extend the gains in the value of the fast-growing maker of electric vehicles.

Under a compensation plan approved by Telsa's board in 2018, Musk is to be paid in stock awards based on the value of the company, which could be worth as much as $50 billion if Tesla reaches $650 billion.

Musk agreed to the plan, which would pay him nothing until Tesla's value reached $100 billion.

The package, using shares which "vest" based on certain criteria, gives Musk stock worth around one percent of the company for each of 12 milestones over a 10-year period.

For achieving the first milestone, Musk will get shares worth $346 million if Tesla shares hold above $100 billion over six months, based on the formula.

In announcing the plan in March 2018, the company said Musk "would receive no guaranteed compensation of any kind -- no salary, no cash bonuses, and no equity that vests simply by the passage of time" without the rise in value.

In 2019, Tesla sold some 367,000 vehicles, a rise of 50 percent from the prior year.

That is a fraction of the 10 million sold by leading global automakers Toyota and Volkswagen, but investors have pushed up Tesla's value in the expectation that it is changing the industry.

Tesla has begun manufacturing in China and has announced a new plant in Germany that could start production by 2021.

The Tesla Model 3 electric car is designed to be more affordable than its earlier models -- around half the cost of the $70,000 models -- and is fueling expectations of stronger growth.

Analyst Dan Ives of Wedbush Securities offered an upbeat view of Tesla in a research note Wednesday.

"In our opinion, the company has the most impressive product roadmap out of any technology/auto vendor around (which the market cap reflects vs. its traditional auto competitors) and will be a 'game changing' driving force for the EV (electric vehicle) transformation over the next decade with Model 3 front and center," Ives said.

Tuesday, January 14, 2020

Anger and grief as Canada remembers Iran plane crash victims

Yahoo – AFP, January 13, 2020

A woman cries during a ceremony in Toronto for the 57 Canadians killed when a
Ukrainian airliner crashed in Iran (AFP Photo/Geoff Robins)

Toronto (Canada) (AFP) - Thousands of people attended vigils Sunday in Canada for the 57 Canadian victims of the Ukrainian airliner crash in Iran, most of them from the Iranian community.

Prime Minister Justin Trudeau told a memorial event in Edmonton that "this tragedy struck our Iranian-Canadian community, leaving cities like Edmonton reeling, but this was truly a Canadian tragedy."

"We want to assure all families and all Canadians that we will not rest until there are answers," he said. "We will not rest until there is justice and accountability."

Six university students were killed when the Ukraine International Airlines flight crashed on January 8, shortly after takeoff from Tehran's airport.

All 176 people aboard were killed, 57 of whom were Canadian, many of them dual Iranian nationals.

A woman weeps during a memorial service at the University of Toronto (AFP 
Photo/Geoff Robins)

Iran has since admitted the airliner was mistakenly shot down by Iranian missiles.

At a ceremony at the University of Toronto, many of those who had been close to the victims expressed their grief and anger.

"It's a story that resonates with the people, these immigrants with a lot of hopes and dreams. They worked super hard, they were high achievers and they get here only to be shot down in the middle of the air," said Ali Esnaashani.

"I'm angry, I'm sad," the 30-year-old told AFP. "But I also feel inspired to see the community come together like this."

On stage, Mehrdad Ariannejad, head of the Canadian-Iranian cultural dialogue nonprofit Tirgan, began to cry during his speech.

"Shock has given way to grief and increasingly anger," he said.

Deputy Prime Minister Chrystia Freeland speaks during a memorial ceremony in 
Toronto for the Canadian victims of the Ukraine International Airlines crash (AFP 
Photo/Geoff Robins)

"We must demand justice from the Islamic Republic authorities and demand answers and compensation for the negligence and lack of regard for human life that has led to this tragedy."

Canada is home to a major Iranian diaspora. In 2016, 210,000 Canadians claimed Iranian origins, according to official figures.

Half of them live in Toronto, which has one of the most significant Iranian communities in North America after Los Angeles.

Hola, 50, who knew one of the victims, could not hold back her tears. "I'm happy that the Canadian government promised to follow through and find justice for these people, for the families and loved ones," she said.

"Nothing will ever replace these brilliant lives that have been cut short," said Deputy Prime Minister Chrystia Freeland in Toronto. "We will always bear these scars."

Monday, January 13, 2020

Canada voices concern over Iran's arrest of British ambassador

Yahoo – AFP, January 12, 2020

Canadian Prime Minister Justin Trudeau (AFP Photo/Dave Chan)

Ottawa (AFP) - Canada and several other countries with nationals killed in the shootdown of a civilian airliner called on Tehran Sunday to abide by its international commitments after Iranian authorities briefly arrested the British ambassador.

"We call on Iran to uphold the Vienna Convention," Canada's foreign ministry said, referring to a 1961 international treaty that sets out protections from harassment for foreign diplomats.

Canada issued the statement after a call among representatives of countries whose citizens were among the 176 people killed when a Ukrainian airliner was hit by an Iranian missile January 8.

The group formed by Canada in the wake of the disaster includes Britain, Ukraine, Sweden and Afghanistan.

"All countries on the call noted their concern that the British ambassador to Tehran was temporarily detained by Iranian officials following his attendance at a vigil for the victims of flight PS752," the statement said.

Iran earlier Sunday confirmed it briefly arrested Rob Macaire, the British ambassador, for attending an "illegal gathering" -- a charge he has denied.

The European Union and France criticized Tehran for the arrest as well.

On Saturday, Canadian Prime Minister Justin Trudeau said he was "outraged and furious" over the shootdown, demanding a full investigation and for Tehran to assume responsibility for the tragedy, including financial compensation.

Iran's leaders admitted on Saturday that Iranian forces accidentally shot down the airliner after mistaking it for a cruise missile.

Trudeau is expected in Edmonton, Alberta Sunday to attend a memorial service for the 57 Canadian victims of the disaster. About a dozen were from Edmonton.

The prime minister, who will be accompanied by Foreign Minister Francois-Philippe Champagne, is expected to speak at the event.

Another ceremony has been scheduled Sunday at the University of Toronto. The city is home to the largest Iranian community in Canada.

Numerous funerals have been held across the country in recent days as Canadians grieve the deaths.

Sunday, January 12, 2020

Iran's 'catastrophic mistake': Speculation, pressure, then admission

Yahoo – AFP, Stuart WILLIAMS, January 11, 2020

An Iranian holds a newspaper with a picture of the debris of the Ukrainian plane
that crashed in Tehran on January 8, 2020, outside a news stand in the Islamic
republic's capital (AFP Photo/ATTA KENARE)

Paris (AFP) - When a Boeing passenger jet crashed in Iran early on January 8, speculation immediately swirled that the only plausible explanation was that it had been shot down by Iran.

The crash of the Ukraine International Airlines (UIA) flight came hours after Tehran had launched a barrage of missiles at bases housing American troops in Iraq, retaliating for the killing of commander Qasem Soleimani in a US strike.

Immediately, theories multiplied arguing that Tehran's air defence system, on high alert for possible US retaliation, may have been triggered by accident.

Western leaders cited intelligence pointing to an accidental strike by Iran. Verified video images later emerged showing a missile striking a plane.

From Wednesday to Friday, Iranian officials repeatedly insisted that the plane had not been shot down. Early on Saturday however, the Islamic republic admitted that the plane had been hit by a short-range missile in what President Hassan Rouhani described as a "catastrophic mistake".

Ukrainian passenger jet crash in Iran (AFP Photo)

What happened on January 8?

The Boeing 737-800NG for UIA's flight PS752 between Tehran and Kiev took off from Imam Khomeini International Airport at 6:12 am local time.

Although there was no distress message from the pilot, the plane had begun to turn back for the airport before crashing at 6:18 am, said the Iranian Civil Aviation Organization. The aircraft came down near Sabashahr on the outskirts of Tehran.

There were 10 departures from Tehran airport that day before flight PS752, according to the Flight Radar 24 monitoring site. That raised questions as to why air traffic had not been halted given the situation.

All 176 people on board the flight PS752 -- mainly Iranians and Canadians, including dual nationals, but also Ukrainians, Afghans, Britons and Swedes -- were killed.

Canadian Prime Minister Justin Trudeau was the first major leader to publicly 
state Iran could be to blame for the plane crash (AFP Photo/Dave Chan)

How did pressure grow?

Prime Minister Justin Trudeau was the first major leader to publicly state Iran could be to blame. He said Canada had intelligence from multiple sources "including our allies and our own intelligence" that indicated "the plane was shot down by an Iranian surface-to-air missile."

"This may well have been unintentional," Trudeau added.

His language was echoed by other Western leaders including Dutch Premier Mark Rutte, NATO chief Jens Stoltenberg and British Prime Minister Boris Johnson.

US President Donald Trump said he had "suspicions" as "somebody could have made a mistake", and US Secretary of State Mike Pompeo then said the United States believed it was "likely" that an Iranian missile downed the airliner.

The New York Times also said it had verified a video appearing to show a missile hitting a plane at night above the Tehran suburb of Parand, west of the airport.

What did Iran initially say?

For three days, Iranian officials refused to countenance any suggestion that one of its missiles had brought down the plane.

The country's civil aviation chief Ali Abedzadeh said that one "thing is for certain, this airplane was not hit by a missile", arguing that it would have exploded immediately if hit by a missile.

Experts questioned that claim, arguing that such missiles explode before coming into contact with the target.

This handout photograph taken and released on January 11, 2019, by The 
National Security and Defense Council of Ukraine, shows people analysing 
the remains of the Ukraine International Airlines plane Boeing 737-800 that
crashed outside Tehran (AFP Photo/STR)

What does Iran now admit?

In an announcement early Saturday that took many experts by surprise, Iran admitted it had "unintentionally" shot down the jet after a missile operator mistook the plane for a cruise missile.

Tehran said its systems had been on high alert for American retaliation in the hours after the Iranian strikes on bases housing US troops in Iran.

"He had 10 seconds to decide," the aerospace commander of Iran's Revolutionary Guards Brigadier General Amirali Hajizadeh said of the operator, who he insisted had "acted alone".

"He could have decided to strike or not to strike and under such circumstances he took the wrong decision."

Rouhani called it an "unforgivable mistake", vowed that compensation would be paid to the families while those responsible would be prosecuted.

What kind of missile was used?

Unverified images posted on social media show the remains of a Russian-made Tor M-1 missile but Tehran has yet to give details on the kind of weaponry used.

Tehran received 29 such air defence systems from Moscow under a $700 million contract signed in 2005, a deal that caused considerable unease in the West.

The Bellingcat open-source analytics website has said the origin of the images is yet to be determined, and the people who captured the images have not come forward.

Ukraine's President Volodymyr Zelensky, pictured on January 9, 2020 in a 
presidential press handout photo placing flowers at a memorial for the victims 
of the Ukraine International Airlines crash in Tehran, has toughened his stance 
on Iran (AFP Photo/HO)

What does Ukraine want now?

Ukrainian President Volodymyr Zelensky, initially wary of blaming Tehran, has toughened his line since Tehran's admission.

After Zelensky spoke to Rouhani later Saturday, the Ukrainian presidency said that Zelensky asked Tehran to allow the bodies of the 11 Ukrainian victims to be repatriated "by January 19".

He added that Ukrainian diplomats had produced a list of steps to be taken to "resolve the compensation issue".

Despite the three days of denial from Tehran, some have compared its reaction favourably to that from Moscow over the crash of the Malaysia Airlines flight shot down over eastern Ukraine in 2014.

Although the Dutch-led Joint Investigation Team says a Russian-made BUK missile fired by pro-Russian separatists was to blame, Russia still denies any involvement.