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PRAGUE (Reuters) -Europe's Airbus broke a major commercial barrier on Tuesday when its A320 family of planes overtook the Boeing 737 to become the most-delivered jetliner in history. Boeing's decades-old record fell as a jet was delivered overnight to Saudi carrier Flynas, bringing deliveries to 12,260 since the A320 began service in 1988, according to data from UK-based consultancy Cirium, which is used across the industry. Airbus did not immediately respond to a request for comment on the data, tracked by aircraft supply analyst Rob Morris. (Reporting by Tim Hepher, Editing by Louise Heavens)

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By Abhijith Ganapavaram NEW DELHI (Reuters) -India's air safety regulator has sought more information from Boeing Co after an emergency power system was activated on an Air India 787 Dreamliner on Saturday, a government source with direct knowledge of the matter said. Boeing and Air India spokespersons did not immediately respond to requests for comment. The crew of the aircraft – which was flying from the northern Indian city of Amritsar to Birmingham, UK – detected deployment of the power system, known as the Ram Air Turbine, during the final approach, Air India said on Sunday. In July, Indian investigators said the RAT had been deployed during the initial climb before the Air India Boeing 787 crash which killed 260 people the previous month. A preliminary report by Indian investigators showed the plane's fuel engine switches had almost simultaneously flipped from run to cutoff just after takeoff. (Reporting by Abhijith Ganapavaram; Editing by Aditya Kalra, Kirsten Donovan)

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By Abhijith Ganapavaram NEW DELHI (Reuters) -India's air safety regulator has sought more information from Boeing Co after an emergency power system was activated on an Air India 787 Dreamliner on Saturday, a government source with direct knowledge of the matter said. Boeing and Air India spokespersons did not immediately respond to requests for comment. The crew of the aircraft – which was flying from the northern Indian city of Amritsar to Birmingham, UK – detected deployment of the power system, known as the Ram Air Turbine, during the final approach, Air India said on Sunday. In July, Indian investigators said the RAT had been deployed during the initial climb before the Air India Boeing 787 crash which killed 260 people the previous month. A preliminary report by Indian investigators showed the plane's fuel engine switches had almost simultaneously flipped from run to cutoff just after takeoff. (Reporting by Abhijith Ganapavaram; Editing by Aditya Kalra, Kirsten Donovan)

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By Maggie Fick and Soren Jeppesen LONDON/COPENHAGEN (Reuters) -Wegovy-maker Novo Nordisk has laid off dozens of employees at the largest U.S. manufacturing site for its blockbuster obesity and diabetes drugs, a Reuters review of LinkedIn posts showed, a signal of where it is making cuts in a major restructuring under new CEO Mike Doustdar. The previously unreported cuts included staff in manufacturing roles, from quality control to production line technicians, at Novo's major Clayton, North Carolina, plant and other facilities in the state, an analysis of 73 posts and profiles show. The layoffs, while only a small part of a planned 9,000 job cuts globally, underscore how Novo is cutting back even on frontline production in the top market for Wegovy as it looks to sharpen its focus, trim costs, and claw back lost ground in fierce competition with rival Eli Lilly. The cuts, which follow earlier ones focused on the obesity education team in the U.S., come as the administration of President Donald Trump pressures pharmaceutical companies to expand U.S. drug production and create more domestic jobs. The Danish drugmaker last year became Europe's most valuable listed company on unprecedented demand for weight-loss drugs before a sharp share price slide as sales growth slowed. It is now trying to turn around its fortunes and reduce costs and staff that bloated as it rode the Wegovy boom. A Novo spokesperson declined a Reuters request for further details beyond last month's global layoffs announcement. "This process takes time and our highest priority is to support our employees," the spokesperson said. PLANT MAKES WEGOVY, OZEMPIC The announced wider cuts helped boost Novo's shares, though the company has provided little detail about its plans. It said around 5,000 jobs would be cut in its native Denmark. The North Carolina cuts hit technical manufacturing workers, project coordinators, a strategic communications manager and an HR assistant, the posts revealed. Of the total, 47 directly posted they were looking for work or had been laid off. Novo's Clayton facility makes semaglutide, the active ingredient in Wegovy and diabetes drug Ozempic. It also does manufacturing steps including filling, finishing and packaging the injections. It also will play a key role in producing the new pill version of Wegovy once that becomes available. CEO Doustdar this month heralded an ongoing $4.1 billion expansion at the North Carolina plant that employed some 2,500 people in 2024 and was expected to add 1,000 more. Reuters could not determine the exact number or the reason for the layoffs in Clayton, which came three weeks after Doustdar announced the broader restructuring. Reuters contacted about 30 of the Novo employees who posted on LinkedIn that they had been laid off. One replied, saying a non-disclosure agreement prevented them from speaking to the media. (Reporting by Maggie Fick in London and Soren Jeppesen in Copenhagen; Editing by Adam Jourdan and Bill Berkrot)

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(Corrects dateline to Oct 7, not Oct 6. No change to text) By America Hernandez and Stephanie Kelly PARIS/LONDON -The five biggest global oil majors are moving to cut costs, jobs and share buybacks as falling oil prices threaten to make shareholder payouts unsustainable without increasing debt, analysts said.  Chevron, ExxonMobil, BP, Shell and TotalEnergies have pledged high returns for the past decade to avert an investor exodus as fossil fuels lost their appeal. But maintaining those generous payouts, which have topped $100 million annually since 2022, has increasingly been funded by debt as energy prices retreated from highs caused by sanctions and supply disruptions in the wake of Russia's invasion of Ukraine.  Oil majors, now pressed to reinvest in exploration and production, must choose between cutting some operations, letting debt rise to unsustainable levels or weaning shareholders off popular but pricey returns.  Rising global oil output, meanwhile, is expected to keep prices falling, leaving the majors facing some difficult decisions. Most oil majors need oil prices above $80 a barrel to sustain current levels of dividends and share buybacks, which hit record highs buoyed by bumper profits in 2022, according to data from RBC Capital Markets and BofA Global Research. But Brent oil prices fell below $65 last week, the lowest since July, on fears of oversupply. Citi expects oil prices to drop to the low $60s and Goldman Sachs to the $50s next year. To contend with lower prices, TotalEnergies said it will reduce its buybacks from the fourth quarter of this year and cut costs to the tune of $7.5 billion by the end of 2030 to reduce debt. BP and Chevron have reduced buybacks this year. Shell has not announced plans for any cuts to its buyback programme. More than a dozen energy companies have announced job cuts for 2025 and 2026, including ExxonMobil, Chevron, Shell and BP. ​ (Reporting by America Hernandez in ParisAdditional reporting by Stephanie Kelly in LondonEditing by David Goodman)

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(Reuters) -Toyota Motor is recalling 393,838 vehicles in the U.S. due to a rearview camera issue that may fail to display, reducing drivers' visibility and increasing the risk of a crash, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Tuesday. The recall covers several models including certain 2022-2025 Tundra, Tundra Hybrid, and 2023-2025 Sequoia Hybrid vehicles, the auto safety regulator said. Toyota dealers will update the multimedia display software at no cost, the agency added. (Reporting by Bipasha Dey in Bengaluru; Editing by Mrigank Dhaniwala)

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By Anjana Anil and Siyi Liu (Reuters) -Oil prices extended gains on Tuesday as a smaller-than-expected November output hike by OPEC+ helped to ease some fears of a growing supply glut. Brent crude futures advanced 19 cents, or 0.29%, to $65.66 a barrel by 0623 GMT. U.S. West Texas Intermediate crude climbed 19 cents, or 0.31%, to $61.88. Both contracts settled more than 1% higher in the previous session after the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers – known as OPEC+ – decided to increase its collective oil production by 137,000 barrels per day starting in November. The move was in contrast to market expectations for a more aggressive reintroduction of supply, a sign that the group remains cautious about increasing its production share in the global oil market amid predictions of a supply surplus in the fourth quarter as well as next year, said ING analysts. "Brent had fallen by around $5 per barrel last week in response to earlier expectations of a larger supply boost, so this mild rebound seems reasonable," said Anh Pham, a senior analyst at LSEG. "For now, the market still appears capable of accommodating the extra volume, and we have yet to see a shift into contango at the front of the curve," he added. OPEC+ has increased its oil output targets by more than 2.7 million bpd this year, equating to about 2.5% of global demand. Geopolitical factors have kept a floor under prices, with conflict between Russia and Ukraine impacting energy assets and creating uncertainty over Russian crude supply. Russia's Kirishi oil refinery halted its most productive distillation unit, CDU-6, following a drone attack and subsequent fire on October 4, with its recovery likely to take about a month, two industry sources said on Monday. Still, oil prices have come under pressure amid output increases from both OPEC+ and non-OPEC+ producers. Moreover, any slowdown in demand due to weak economic growth triggered by U.S. trade tariffs is likely to exacerbate the surplus, analysts said. (Reporting by Anjana Anil in Bengaluru and Siyi Liu in Singapore; Editing by Christopher Cushing and Kim Coghill)

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By David Morgan, Andy Sullivan, Steve Holland and Nolan D. McCaskill WASHINGTON (Reuters) -The White House on Monday backed off President Donald Trump's assertion that government employees were already being laid off due to the shutdown, but warned job losses could result as the standoff looked set to stretch into a seventh day. The Republican-led Senate for a fifth time rejected dueling measures to fund federal agencies, with insufficient support for both a Republican proposal to fund operations through November 21 and a Democratic version that would also extend healthcare subsidies due to expire at the end of the year. Trump told reporters at the White House that he would be open to a deal on the subsidies, which help 24 million people buy health insurance through the Affordable Care Act – a law that Republicans bitterly opposed for years. Shoring up the expiring subsidies has been Democrats' main demand and primary reason for voting against the Republican plan. But on the sixth day of the shutdown, the Republican president and top Senate Democrat Chuck Schumer could not even agree whether the two sides were talking, with Trump saying there were negotiations ongoing and Schumer saying there weren't. The Republican-led House of Representatives was not in session, and House Speaker Mike Johnson said he had no plans to reopen it until the government was funded. The standoff has frozen about $1.7 trillion in funds for agency operations, which amounts to roughly one-quarter of annual federal spending. Much of the remainder goes to health and retirement programs and interest payments on the growing $37.88 trillion debt. BACKTRACKING ON LAYOFFS During the shutdown's first week, the Trump administration has cut off some federal funds to Democratic-led cities and states and continued to raise the specter of mass firings, though none appeared to be forthcoming. Previous shutdowns have not forced the government to fire any workers, though hundreds of thousands are typically told not to work.  Trump said on Sunday night that layoffs were taking place "right now," but White House Press Secretary Karoline Leavitt said on Monday he had been referring to those furloughed since Congress allowed funding to expire on October 1.   The White House budget office "is continuing to work with agencies on who, unfortunately, is going to have to be laid off if this shutdown continues," she said at a news briefing. Labor unions representing federal workers have sued to prevent that from happening, arguing that such layoffs would violate a law that includes criminal penalties. The administration has already frozen at least $28 billion in infrastructure funds for New York, California and Illinois — all home to sizable Democratic populations and critics of the president. But Democratic leaders showed no sign of knuckling under to the White House's hardball tactics, which have caused unease among some centrist Republicans who fear the approach could make the impasse harder to overcome. The partial shutdown, the 15th since 1981, was on track to stand alone as the fourth-longest in U.S. history on Tuesday, exceeding the six-day length of a 1995 shutdown. The longest shutdown lasted 35 days in 2018-2019, during Trump's first term in office. While border guards, airport security screeners and other "essential" employees remained on the job without pay, other government activities ground to a halt. The Federal Register, which typically lists more than 100 proposed regulations and other notices daily, only showed four entries on Monday morning.  Pressure to end the standoff could mount next week, when 1.3 million troops and other military workers are due to miss their paychecks for the first time since the shutdown began. Air travel could be another factor. More of the nation's 13,000 air traffic controllers have been calling in sick since the shutdown began, which could lead to flight delays, Transportation Secretary Sean Duffy said. Lawmakers resolved the last shutdown in 2019 after absences of controllers and airport security screeners spiked. Republicans hold a 53-47 Senate majority but need the votes of at least eight Democrats to meet the chamber's 60-vote threshold for most legislation, since Republican Senator Rand Paul opposes the stopgap funding measure. So far only two Democrats and an independent who caucuses with them have crossed the aisle. Some Democrats want a deal on healthcare subsidies in place before open enrollment for next year begins on November 1.  Johnson said a solution could not be reached quickly.  "We've got probably 100 ideas for reforms on the table, but I can't snap my fingers this afternoon and make that happen," he said on the Hugh Hewitt radio show. (Reporting by Doina Chiacu, Andy Sullivan, Jeff Mason, David Morgan and Nolan D. McCaskill; Editing by Scott Malone and Cynthia Osterman)

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(Reuters) -Imperial Brands announced an additional 1.45 billion pound ($1.95 billion) share buyback plan on Tuesday and said it was on track to meet its annual targets on the back of strong pricing and growing demand for smoking alternatives products. The maker of Winston cigarettes and e-cigarette brand blu had expected low-single-digit growth in tobacco and next generation products net revenue at constant currency and mid-single-digit growth in adjusted operating profit for the year. Imperial's stock price has largely recovered from the lows seen in May, when Stefan Bomhard announced his retirement, as the company has sought to ease concerns over its long-term strategy. Lukas Paravicini took over as CEO on October 1. Imperial Brands said it expects market share gains in the U.S., Germany and Australia to broadly offset declines in Spain and the UK. ($1 = 0.7431 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Rashmi Aich and Subhranshu Sahu)

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By Libby George and Rodrigo Campos LONDON/NEW YORK (Reuters) -An intricate series of pipes off Angola's Atlantic coast snakes toward a new fuel refinery that signals the country's push for energy independence — and its use of private creditors, instead of banks, to fund a big-ticket project. "We're not the lender of last resort," said Felipe Berliner, co-founder of emerging markets asset manager Gemcorp, which provided the bulk of funding for the refinery, using private capital. "Sometimes we are the only lender." Private credit for emerging markets — driven by investors' hunt for yields and saturation in developed Western markets — could grow exponentially, veteran investors told Reuters, providing tens of billions in funding as bilateral lending and foreign aid shrink. "This is a paradigm shift," said Pramol Dhawan, head of emerging markets portfolio management at PIMCO. "The need to globally reallocate is not a hedge — it's a secular thesis." PIMCO has committed around $30 billion across 140 emerging market deals in five years, and expects to boost annual lending by 30% this year to $10 billion. Other investors are targeting similar increases. RAPID GROWTH, BUT YIELDS SQUEEZED  Private credit skyrocketed over the past 20 years, with global assets under management rising to over $1.2 trillion from $200 million in the early 2000s, according to the Bank for International Settlements. The funding filled a gap for companies, mainly in the U.S., as banks limited lending due to regulations and capital requirements. Today, emerging markets get less than 10% of that cash. But the U.S. and Europe are saturated; competition has driven down margins, and bets are riskier. Experts from JPMorgan CEO Jamie Dimon to the IMF warn private credit looks shaky; the collapse of U.S. firms Tricolor and First Brands underscored the risks. Emerging markets, investors say, have bankable projects so keen for cash that you can pick and choose. "Emerging market companies have been forced to be more fundamentally conservative," said Matt Christ, portfolio manager at London-based global investment manager Ninety One. Developed markets are "priced for perfection", while emerging markets offer more upside. He said EM yields are 150 to 300 basis points higher than their developed market peers — and risk is often lower than ratings suggest. Christ, whose private credit portfolio is around $8 billion globally, sees scope to expand to $15 billion. EM firms, he said, are used to volatility and political instability — unlike most Western firms. "Developed market companies are going into an era they've never experienced before, but emerging market companies have been doing this for a long time," he said. Gustavo Ferraro, head of capital solutions at emerging markets-focused fund manager Gramercy, also said EM risk profiles and returns have surpassed those in developed markets. "The U.S. market isn't the benchmark anymore," he said. "Our (investors) want yield and uncorrelated exposure." Gramercy has doubled its private credit investment in five years to $4.8 billion, focusing on Latin America, Turkey and parts of Africa. Ninety One said that in Turkey, where authorities are limiting bank lending to cool inflation, private credit is filling a gap. FROM SOVEREIGNS TO SAUDI COMPANIES Most EM private credit is asset-backed — giving investors anything from company shares to control over the project itself. The structure favours infrastructure, but funding has gone to sovereign budgets and Turkish cities' transport networks. Angola's new refinery, mostly funded by Gemcorp with state oil company Sonangol also providing funds, will ultimately run at 60,000 barrels per day and make sub-Saharan Africa's No. 2 oil producer less reliant on costly fuel imports. The plant's first phase, which cost $475 million, is due to start operation by the end of the year. Gemcorp has also funded a wind farm in Lake Turkana in Kenya, a water sanitation project in Angola and power transmission between Angola and Namibia. A Gemcorp survey showed 67% of EM private credit went to large or medium corporates, and 22% to sovereign or quasi-sovereign projects. Gemcorp is launching a $1 billion fund targeting mid-market Saudi companies. "They are underfunded, they don't have access to the flexible capital they need to maintain growth from the government's fiscal push," Berliner said. The firm also funds Central American commodity exports to the U.S., West African fuel prepayment deals and gold producers. Berliner and others say private credit is flexible, fast and offers customised repayment terms — from upfront fees to extended maturities or EBITDA warrants (earnings before interest, taxes, depreciation, and amortization) — making it ideal for upstarts and lower-rated sovereigns. "We're not replacing banks anymore. We're building something that didn't exist," Ferraro said. "This is bespoke financing for bespoke problems. That's what EM has in abundance." Privately, some bond investors worry private credit — nimbler and less onerous than bonded debt — could eat into their business. Others fear bigger problems if borrowers hit trouble. "If something goes wrong, like a big restructure, how does private credit deal with that? We don't really know," said Daniel Cash, associate professor of law at the UK's Aston University, adding that the "much more opaque" lending could also create issues. (Reporting by Libby George in London and Rodrigo Campos in New York. Additional reporting by Nell Mackenzie; Editing by Susan Fenton)

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