Business

Airbus regrets U.S. tariffs, hopes for change when WTO authorises EU retaliation

Editorial Bureau February 16, 2020

PARIS – On Saturday, European aerospace group Airbus said it regretted the U.S.’ decision of increasing tariffs on aircraft imported from the U.S. which may potentially hurt airlines and their customers. Airbus also hopes U.S. would change its opinion on the World Trade Organisation

Business

U.S. weighs blocking GE engine sales for China’s new airplane

Editorial Bureau February 16, 2020

The U.S. government is considering whether to stop General Electric Co from continuing to supply engines for a new Chinese passenger jet, according to people familiar with the matter, casting uncertainty over China’s efforts to enter the civil aviation market. The potential restriction on the engine sales – possibly along with limits on other components […]

Business

Oil rises over 1% on hopes demand will rebound from coronavirus effect

Editorial Bureau February 15, 2020

NEW YORK – Oil prices rose over 1% on Friday, posting their first weekly gain since early January as investors bet the economic impact of the coronavirus would be short-lived and hoped for further Chinese central bank stimulus to tackle any slowdown. Brent crude rose 98 cents, or 1.74%, to settle at $57.32 a barrel. […]

Business

Boeing tells FAA it does not believe 737 MAX wiring should be moved

Editorial Bureau February 15, 2020

SEATTLE/WASHINGTON- Boeing Co told the U.S. Federal Aviation Administration it does not believe it needs to separate or move wiring bundles on its grounded 737 MAX jetliner that regulators have warned could short circuit with catastrophic consequences, people familiar with the matter said on Friday. The FAA confirmed Friday it had received a proposal from […]

Business

Take Five – In sickness and in health

Editorial Bureau February 15, 2020

CHINA ON SICK LEAVE A leap in coronavirus cases in Hubei gave markets pause – for all of 24 hours. Then attention shifted back to the global case-count and the rally resumed. But while investors are focused on containment, the world’s second-biggest economy is idling. President Xi Jinping may have urged officials to refrain from […]

Business

EU starts anti-dumping investigation on China aluminium products

Editorial Bureau February 15, 2020

LONDON- The European Commission has opened an investigation into whether China is dumping aluminium extrusions, products widely used in transport, construction and electronics, in the European Union, it said on Friday. A notice in the EU’s Official Journal said it was acting on a complaint filed last month by industry group European Aluminium representing seven […]

Business

IBM withdraws participation from RSA conference over coronavirus fears

Editorial Bureau February 15, 2020

On Friday, International Business Machines Corp withdrew itself from the RSA cyber-security conference owing to fears related to the recent coronavirus outbreak. “The health of IBMers is our primary concern as we continue to monitor upcoming events and travel relative to Novel Coronavirus (COVID-19).” -IBM The event was to take place from February 24th to […]

Business

Bridgewater, Viking are the big hedge funds that added Tesla before rally

Editorial Bureau February 15, 2020

NEW YORK – Billionaire Ray Dalio’s Bridgewater Associates, Viking Global Investors, and Granite Point Capital were among prominent hedge funds placing new bets on electric carmaker Tesla Inc in the fourth quarter, positioning them to gain from its nearly 100% rally over the first six weeks of the year. The positions were revealed in 13F […]

Business

Deutsche Boerse extends CEO Weimer’s contract by four years

Editorial Bureau February 15, 2020

FRANKFURT- On Friday, Deutsche Boerse extended its Chief Executive Officer Theodor Weimer’s contract by another four year period. The decision came after a supervisory board meeting which took place on Friday. Weimer’s renewed contract will run up to December 31st, 2024. There was already talks of Deutsche Boerse extending the contract but the length of […]

Business

London Metal Exchange’s Asian event cancelled due to coronavirus

Editorial Bureau February 15, 2020

LONDON – The metal industry’s major event, the annual London Metal Exchange Asia Week dinner to take place in Hong Kong has been cancelled and the seminar which was scheduled for the same day has been postponed. It was supposed to happen on the 6th of May. LME is owned by Hong Kong Exchanges and […]