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Petrobras notches $5.9 bn profit in Q3

AFP

Brazilian state-run oil company Petrobras reported a hefty net profit of $5.9 billion for the third quarter Thursday, beating analysts’ expectations as oil prices continued to climb.

It was the fourth straight quarterly profit for the company, up from a loss of $236 million for the same period in 2020, when the coronavirus pandemic had sent crude prices crashing.

Since then, Petrobras has rebounded on the back of soaring prices — so much so that far-right President Jair Bolsonaro said earlier on Thursday it was making too much profit.

“Petrobras needs to be a company that doesn’t post excessively high profits, as it has been doing,” he said in his weekly live address on social media.

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“It has to play a social role, in the good sense of the term.”

Bolsonaro made the remarks just before the company announced its profit for the July-September period, which followed a profit of $8.1 billion for April-June.

Petrobras said the boost had come largely from the rebound of Brent crude prices to an average of $73.47 a barrel in the third quarter, up 70.9 percent in a year.

The company has largely passed that increase on to customers at the pump, drawing the ire of consumers — and Bolsonaro — as fuel prices soar.

The president had also criticized Petrobras on Wednesday, saying, “It’s a state-run company that, with all due respect, is just giving me headaches.”

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He said he was looking at putting the company “on the radar” to be privatized as part of his government’s massive sell-off of state-run firms.

Bolsonaro has not shied away from shaking things up at Petrobras in the past.

In February, he appointed army reserve general Joaquim Silva e Luna as chief executive of Petrobras, replacing respected CEO Roberto Castello Branco shortly after saying the firm should not be constantly “surprising people” with price increases.

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International

Delta Airlines cancels 1,100 flights amid winter storm chaos

More than 3,000 flights were canceled on Friday, and thousands more were delayed due to a winter storm in the southern United States, according to airlines and the flight tracking website FlightAware. Delta Airlines crews expect to return to normal operations on Saturday, the company stated in a release.

“Unforeseen severe winter conditions at Hartsfield-Jackson Atlanta International Airport (Georgia) caused the closure of all five runways for more than two hours on Friday morning,” the airline said. Delta canceled about 1,100 flights across its network on Friday due to the “freezing rain that fell throughout the day and early afternoon, leading to diversions.”

Additionally, a Delta Airlines aircraft had to abort its takeoff due to a motor issue, also at Atlanta Airport.

More than 200 passengers and crew members aboard a Boeing 757-300 bound for Minneapolis were evacuated via emergency slides, according to a statement from the airline reported by U.S. media. An investigation is underway.

Airports in Dallas Fort Worth (Texas) and Charlotte Douglas (North Carolina) were also affected by the severe weather, with over 1,200 flights canceled.

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International

At least 20 injured in tram collision at Strasbourg Train Station tunnel

On Saturday afternoon, two trams collided in the tunnel leading to the Strasbourg train station in northeastern France, resulting in at least 20 injuries, according to the local prefecture. “The initial assessment indicates that 20 people are in a state of relative emergency,” said a spokesperson, noting that the circumstances of the accident had not yet been determined.

A security perimeter was established in front of the station, where several ambulances arrived, as reported by an AFP journalist.

A video taken by a witness and shared on social media shows a chaotic scene, with two heavily damaged trams in the tunnel near the station. One of the trams appears to have derailed due to the impact.

Since Strasbourg revamped its tram network in 1994, no major accidents had been reported until this incident.

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International

Judge declares Donald Trump not guilty in Stormy Daniels case

Judge Juan Merchan acquitted U.S. President-elect Donald Trump in the case involving former porn actress Stormy Daniels.

“At this moment, I am issuing this verdict to cover all 34 charges,” Merchan stated. The judge also wished Trump good luck in his second term as president.

Trump will now become the first criminal president.

Merchan declined to impose any punishment. This decision strengthens Trump’s acquittal and clears the way for his return to the White House without the threat of prison or a fine.

“Never before has this court faced such a unique and remarkable set of circumstances,” Judge Merchan said.

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