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13032019

U.S. airlines stand by 737 MAX as some customers, nations reject it

Posted by: administratorCategory Business | Comments: 0 | Views: 4 705

 
 
The US Federal Aviation Administration is one of the main regulators who do not suspend 737 MAX flights after Britain and the European Union joined the wave of other suspensions after two crashes for several months with the same aircraft on Tuesday.

Southwest Airlines Co, American Airlines Group Inc and United Airlines have stated that they are still confident in their aircraft. Both the south-west and the Americans reported that the data of their fleet showed that the aircraft was safe.

Many potential passengers turned to social networks to express their concern, asking if they could change their flights, and some even asked for cancellation. Southwest Airlines Twitter account (@SouthwestAir) was occupied by hundreds of plane-worried customers.

Andrea Cal (@andi_call) tweeted southwest that she traveled with her daughter in May. "I don't want to get on a Boeing Max 8,” she said. The airline responded that it focused on safety, adding that "our fleet of Boeing 737 MAX 8 is working as planned today, and we plan to operate these aircraft in the future." Call will have to wait until 24 hours before the flight finds which plane will be used. ”

Twitter user Sandy (@nycsandygirl) tweeted that she called American Airlines to change her flight, but she was told that the refusals were unavailable for non-refundable fares.

"I have the right to demand a change of aircraft without a fee for a change, if there were concerns about the safety of a particular aircraft. China, Indonesia, Ethiopian airlines and Cayman Airways substantiated these aircraft, so it is obvious that there is a problem, ”wrote a Twitter user.

Unions representing American Airlines flight attendants and pilots called for Doug Parker, Executive Director of American Airlines, to consider grounding the aircraft, pending a thorough investigation. The flight attendants said they would not be forced to fly the plane if they felt safe.

A separate union representing United Airlines flight attendants also called on the FAA to ground the planes and investigate 737 MAX.

Pilot unions have not yet joined such requests.

US senators Mitt Romney and Elizabeth Warren were the latest politicians to encourage the FAA to act.

The FAA and Boeing said the planes are safe to fly.

Southwest is the largest operator of an aircraft with 34,737 MAX 8 aircraft, which, according to her, produces thousands of data points during each flight, which are constantly monitored.

"To date, we have completed more than 41,000 flights and have relevant aircraft data that indicate the effectiveness of our operational standards, procedures and training,” said spokeswoman Michelle Agnew.

The Southwest Pilot Association said Tuesday that it supported the airline’s decision to continue flying the aircraft, as well as the FAA’s findings to date.

On Monday, American Airlines issued a similar statement saying that extensive flight data from its fleet instilled confidence in the safe operation of all aircraft, including the 737 MAX 8.

A US official said Tuesday that the airline’s position remained the same.

The American, who has 24 MAX 8 aircraft, said he shares his data with the FAA in coordination with the Allied Pilots Union, an association that represents American pilots.
United Airlines, which does not control MAX 8, but operates another model in the series, MAX 9, also confirmed its confidence in the ability of pilots to fly an aircraft safely.

"(...) we still believe that the aircraft will be deemed safe, and the impact on Boeing’s long-term operations, backlog, business course and order flow will be limited,” said Jim Corridor, an investment analyst for research firm CFRA, which adhered to her opinion about Boeing.

27022019

Chinese firm behind the 'Amazon Coat' hits jackpot in U.S., eschews China

Posted by: administratorCategory Business | Comments: 0 | Views: 9 468

 
 
It never occurred to him that his Orolay down jacket would be a huge hit, hailed as "Amazon Coat” in the US social and traditional media — and supported by the budding rival of the premium brand Canada Goose.

Polyester coats cost between $ 80 and $ 139 using duck down from the Chinese provinces of Hebei and Anhui. For comparison, Canada Goose jackets cost from $ 575 in the United States.
"In January, we made more money than in the whole of 2017,” said 32-year-old Chiu in an interview with Reuters at his factory in the eastern Chinese city of Jiaxing.

According to his estimates, the volume of sales of his company last month amounted to $ 5 million, and this year it counts on $ 30–40 million. Sales in the US - almost all of which are sold through Amazon.com Inc. - account for 70 percent of total revenue.

However, the success of Orolay is not just a story about competitive prices, but also a design that has gained popularity among consumers in the United States.
Chiu is one of many Chinese merchants who have taken advantage of measures introduced by Amazon in recent years that have allowed overseas merchants to easily sell on their website.

This raised concerns among American merchants on Amazon that they were deprived of weapons. And in industries such as clothing, experts say that retailers cannot ignore the threat posed by the influx of small brands, many of which are based in China.

"In general, this is the influence that is happening in the industry on the part of all these brands. When you add them, they just take market share, ”said Robert D'Loren, executive director of Xcel Brands Inc., whose products are sold at Macy's Inc. and on Amazon.com.

Amazon declined to comment on the view that American firms are undermining Chinese merchants using their website. It does not break the number of sellers on their websites by country.
Analysts point out that the number of Chinese merchants on Amazon will continue to grow, as fierce competition and rising prices have made it less attractive for sale on local e-commerce sites such as Tmall Alibaba Group Holding Ltd.

Indeed, Chiu is no longer sold in China. Other Orolay markets are Europe, Japan, Taiwan and Australia.

"We were selling on Alibaba in the early days ... but the competition in China is tougher,” he said, adding that the increase in costs of using local sites is also a factor.

In addition to paying for using Chinese e-commerce sites, merchants also face other costs, such as investing in customer service groups. Alibaba declined to answer Reuters questions about whether spending has increased for suppliers.
Analysts say that the number of Chinese merchants selling on the American Amazon site has increased over the past five years after the introduction of measures that allowed sellers around the world to store goods in Amazon warehouses and assisted in delivering these goods to buyers.

At the end of last year, the retail giant also launched a program that guides Chinese sellers to local lenders. For comparison, Amazon offers loans to individual small businesses in the US, UK and Japan, which sell on its website.

Chiu credits Amazon for most of the firm’s success, but intends to expand it, saying that retailer offers include invitations to online sales from Walmart Inc. and the US shopping site Rue La La.

A Walmart spokeswoman said the company has no agreement with Orolay. Rue La La does not respond to requests for comments.
Expansion plans include expanding the range of Orolay products to cotton and men's outerwear. But for now, Chiu is still surprised at how his business has become so successful in a market that he barely knows about.

"Last year I went on vacation to New York twice and was so excited to see people wearing our jackets on the street,” he said.

"I really wanted to ask them how they like our jackets, but I did not do it because I do not speak English."

29012019

Exclusive: Boeing nears $3.5 billion 737 MAX jet deal with Japan's ANA - sources

Posted by: administratorCategory Business | Comments: 1 | Views: 2 861

 
 
This transaction is the first sale in Japan of the newest version of the Boeing 737 family, which was a turning point for European Airbus, five years after the same airline became the first Japanese carrier to choose the competing A320neo.
This also coincides with negotiations between Washington and Tokyo over a potential trade pact, when Japan faces pressure from the administration of US President Donald Trump to reduce its trade surplus with the US.

Boeing declined to comment. ANA cannot be reached immediately for comment. Sources said the deal could be announced on Tuesday, subject to final approval by the airline, subject to anonymity.
The Boeing 737 MAX and Airbus A320neo have collected thousands of orders due to the significant fuel savings offered by the new generation of engines.

But the world's largest aircraft manufacturers continue to conduct fierce market battles, while Boeing refuses Airbus's recent leadership in the market for such medium-range aircraft.

Trump and other senior US officials criticized Japan for trade, arguing that Tokyo is unfair to the United States, sending millions of vehicles to North America, while at the same time blocking imports of cars and agricultural products to the United States.
Japan says its markets for manufactured goods are open, although it protects politically sensitive agricultural products.

In September, Trump and Japanese Prime Minister Shinzo Abe agreed to start trade negotiations on an agreement that appeared, at least temporarily, to protect Japanese automakers from further tariffs on their exports, which account for about two-thirds of Japan's trade surplus of 69 billion dollars from United States.

Japan insists that the new trade agreement on goods will not be a comprehensive free trade agreement, but US Trade Representative Robert Leithizer said that last year he sought to conclude a free trade agreement requiring Congress approval.

24012019

United Tech profit beats forecasts on aerospace jump

Posted by: administratorCategory Business | Comments: 0 | Views: 4 311
 

 
Like other major manufacturers in the United States, UTC, a manufacturer of aircraft engines Pratt & Whitney, Carrier air conditioners and Otis elevators, benefited from the air traffic boom and record global sales of commercial aircraft.

Revenue growth of 24% and 29%, respectively, for Pratt & Whitney and parts manufacturer for aircraft Rockwell Collins, heralds a good planned division next year, reducing the company to its main aerospace business and highlighting the rest.

"We are seeing truly steady trends in the aerospace industry with continued growth (air traffic) and an increase in production on both Boeing and Airbus aircraft,” said Greg Hayes, CEO.
Investors met the plan to split into three parts with skepticism, when it was made public last November along with the completion of Collins’s purchase. Since then, stocks have fallen by 14 percent.

Wednesday results raised shares by 7.4 percent.

Analysts say that good results and a full-year outlook are likely to increase confidence in UTC's ability to improve cash generation and profits ahead of the collapse next year.

"Expectations were low, stocks did not justify themselves, and we believe that street forecasts for 2019 (earnings per share) should increase by 5–10 cents,” said Nigel Coe, analyst for Wolfe Research.

The company predicts adjusted earnings per share in 2019 between $ 7.70 and $ 8.00, the midpoint of which significantly exceeds the average price of $ 7.80, according to IBES data from Refinitiv.

Collins' contribution to earnings in 2019 is currently expected to be 35 cents per share, compared with 15-25 cents per share earlier, largely due to better operating efficiency.

The company expects sales growth in 2019 in the range from low to high single digits in all directions.

While Otis has suffered in the past from demand-related problems in China, the company said that the ongoing infrastructure spending by the Chinese government will help Otis, as well as Carrier, in the upcoming quarters.

"We believe that the government’s attention to infrastructure spending will help the market as a whole. It is in their interest to try to achieve a growth in gross domestic product above six percent, ”said financial director Ahil Johri.
On an adjusted basis, United Technologies earned $ 1.95 per share, up from $ 1.53.

Net sales grew by 15.1 percent to $ 18.04 billion, surpassing estimates of $ 16.91 billion.

24012019

U.S. sanctions on Venezuela would reroute crude, leave refiners short

Posted by: administratorCategory Business | Comments: 0 | Views: 1 630
 
 

US refineries, which depend on Venezuela’s heavy oil, will have even more problems with supplying supplies, as Canadian and Mexican reserves are often not as depreciated and limited in stock.

The United States views steps to curb Venezuela’s oil supplies, which account for almost all of the country's exports, in response to the re-election of President Nicolas Maduro, which was widely perceived as a hoax.

Washington recognized opposition leader Juan Guaydo as president of Venezuela when protests against Maduro erupted across the country. He is also considering sanctions on oil supplies, and this step has not yet been carried out, sources in an energy company told Reuters on Wednesday.
According to the US Department of Energy, in 2018, Venezuela, on average, exported about 500,000 barrels of oil per day to the United States. The share of the United States in its exports in recent years has declined, as more and more supplies go to Russia and China.

SCHEDULE: Venezuelan oil exports to the USA: tmsnrt.rs/2S4YIXB

These deliveries are carried out mainly through debt repayment structures for oil, since the output of the state-owned oil company Petróleos de Venezuela, SA, known as PDVSA [PDVSA.UL], fell to almost 70-year lows during the national economic crisis. According to OPEC secondary sources, production in Venezuela has halved from 2016 to less than 1.2 million barrels per day.

After the introduction of sanctions, the country may seek additional agreements with Turkey, India or other Asian countries, said one of the Venezuelan oil traders.
"It will be costly for Venezuela, but ultimately they will be able to sell this oil to Asia at a discount. There will be a period in the middle when they have difficulty selling these barrels, ”said Francisco Monaldi, a research fellow for Latin American energy policy at the Baker Institute of Public Policy at Rice University in Houston.

SCHEDULE: Leading US Importers of Venezuelan Oil: tmsnrt.rs/2RYGk2E

Although the United States produces almost 12 million barrels of oil per day, complex refineries on the Gulf Coast need more heavy oil to produce diesel fuel and other high-yield products and cannot simply process light oil.

Prices for heavier US grades, such as Mars Sour WTC-MRS, American crude produced on the shelf, and heavy crude Louisiana sweet oil WTC-HLS, have increased as buyers compete for supplies. According to Refinitiv Eikon, on Tuesday, Mars was trading at a premium of $ 6.25 in relation to crude oil on Tuesday - a five-year high.

"This would make a limited market even tougher. If this happens, it will be an unequivocal obstacle for refiners who are already trying to find supplies, ”said Bob McNally, president of Rapidan Energy Group, an energy consulting company in Bethesda, Maryland.
SCHEDULE: Venezuelan oil exports to US refineries: tmsnrt.rs/2S42EI5.

According to traders, the United States may need to sell oil from the US Strategic Oil Reserve to cover supply shortages, since additional supplies are provided through Canada or Mexico.

Sanctions may also include the export of petroleum products from the United States to Venezuela, used for blending with Venezuelan heavy oil.

10012019

Airbus loses annual jet order race to rival Boeing

Posted by: administratorCategory Business | Comments: 0 | Views: 2 324

 
 
Airbus placed 747 orders for 2018, which is 33 percent less than the previous year, including 135 on the A220, which he took over from Bombardier in July. Boeing won the order race for the first time since 2012 with 893 net orders.

Airbus delivered 800 aircraft, an increase of 11 percent, including 20 A220 models, leaving Boeing the world's largest aircraft manufacturer in terms of production for the seventh consecutive year.

Despite the fact that Boeing did not reach its supply target, and Airbus previously lowered its target due to tensions in the industry’s global supply chain, high demand for passenger aircraft increased total shipments by 8 percent, which was the fastest pace in six years. .
06012019

Wall St. rebounds on robust jobs report, dovish Powell remarks

Posted by: administratorCategory Business | Comments: 0 | Views: 1 547

 
 
At the session symbolizing increased volatility, which swept the markets for several weeks, all three major US stock indexes rose by more than 3 percent in one of the most significant gains in recent years. The profit more than wiped out the losses of the previous session and was due to the technology sector, which rebounded from its largest one-day decline in the last seven years after Apple Inc. (AAPL.O) cut its sales forecast.

Since Christmas’s 20-month low, on the eve of Christmas, due to rounding errors, which are considered to be a bear market, the S & P 500 .SPX index has grown by 7.7%. Friday's advance, measured by the number of stocks rising against falling, was the largest in eight years.
The main catalysts for growth were the monthly wage report in the United States, which surpassed economists' estimates, according to which the largest number of jobs was created in 10 months, and the comments of the Fed Powell.

In comments to the American Economic Association, Powell reassured market nerves with assurances that the central bank is sensitive to the risks that worry investors, and is not on a given path of raising interest rates.

Speaking after months of instability in the global bond and equity markets, Powell avoided some communication errors that worried rather than reassured investors in the past. He also promised to stay in his post, even if asked by President Donald Trump, who repeatedly scolded the person he appointed to work, for repeated increases in the Fed rate.
"(Powell) says the right thing: that the Fed is ready to change, that it listens carefully, that it is sensitive to the messages that the market sends,” said James Eti, senior investment manager at Aberdeen Standard Investments in London. "This is good news for a market that is beginning to absorb itself out of fear."

However, others have warned that the rollercoaster ride this week could be a new norm.

"Despite the fact that today such days seem good, we still foresee further economic weakness and expect the market to continue to grow," said Eric Friedman, investment director at the American bank Wealth Management in Minneapolis.

News that China and the United States will hold trade talks in Beijing next week helped tariff-vulnerable industrial leaders lead the Dow rally, led by Caterpillar Inc. (CAT.N), United Technologies Corp (UTX.N), 3M Co ( MMM.N). ) and Boeing Co (BA.N).
The Dow Jones Industrial Average .DJI rose 746.94 points, or 3.29 percent, to 23.433.16, the S & P 500 .SPX added 84.05 points, or 3.43 percent, to 2.531.94, and The Nasdaq Composite .IXIC index added 275.35 points, or 4.26 percent, to 6,738.86.

All 11 major sectors of the S & P 500 ended the session in positive territory: technology, communication services .SPLRCL, materials .SPLRCM and industrial shares .SPLRCI showed the largest percentage increase.

Apple shares rose 4.3 percent and led to an increase in the technical sector, as the company began to recover positions lost after a warning about a decrease in revenue in the holiday quarter on Wednesday.

Each of the FAANG impulse promotions, a group that includes Facebook Inc (FB.O), Apple, Amazon.com Inc (AMZN.O), Netflix Inc (NFLX.O) and the parent company Google Alphabet Inc (GOOGL.O), traded above.

Netflix jumped 9.7 percent after Goldman Sachs added streaming service to its "belief list.”

The number of advanced issues exceeded the number of recessions on the NYSE at a ratio of 7.64 to 1; on the Nasdaq, a ratio of 6.22 to 1 favored advancement.

The S & P 500 did not publish new 52-week highs and 1 new minimum; The Nasdaq Composite has recorded 5 new highs and 19 new lows.

Volume on US exchanges was 8.68 billion Shares compared with an average of 9.14 billion. Over the past 20 trading days.

16122018

U.S. sets new March 2 date for China tariff increases amid talks

Posted by: administratorCategory Business | Comments: 0 | Views: 11 543

 
 
The change has been made to the federal register since the previously scheduled effective date of January 1, 2019, to increase to 25 percent from 10 percent.

The notice does not affect the 25 percent tariff rate already applied to Chinese technological products in the amount of $ 50 billion, including semiconductors, printed circuit boards and other electronic components, cars and vehicles.
This submission was added to documents related to the USTR "Section 301” investigation regarding intellectual property practices in China, which became the basis of US tariffs on Chinese goods, which led to retaliatory strikes from Beijing.

This is due to the change in the new US-China agreement "to achieve the elimination of the actions, policies and practices covered by the investigation" after the meeting on December 1 between US President Donald Trump and Chinese President Xi Jinping in Buenos Aires. ,

The USTR statement did not indicate any expected results of the negotiations. It referred to the goals set out in a statement published by the White House to negotiate China’s structural changes over a 90-day period regarding enforcement of technology, protection of intellectual property, non-tariff barriers, cyber-invasions and theft, services and agriculture.
The USTR notice did not mention China’s moves this week to resume suspended soybean purchases in the United States or suspend a 25% fine on American cars and auto parts.

The official delay in raising the tariff rate was of little comfort for the US technology sector.

The Consumer Technology Association said Friday that US tariffs on technology imports from China currently cost $ 1 billion a month, and duties on fifth-generation mobile technology products reach $ 122 million in October, compared with $ 65,000 a year earlier.

11122018

GoPro to move U.S.-bound camera production out of China

Posted by: administratorCategory Business | Comments: 0 | Views: 2 375

 
 
Earlier, the company stated that it was "very actively” responding to the tariff situation, as the United States and China intensified their bitter trade war, in which both countries introduced tariffs for hundreds of billions of dollars in imports of each other.

GoPro said that the production of international cameras will remain in China.
"It is important to note that we own our own production equipment, while our production partner provides the equipment, so we expect to do this with relatively little cost,” said CFO Brian McGee.

In a statement on the company's income in November, GoPro stated that it has the opportunity to withdraw production in the United States from China in the first half of 2019, if necessary.

GoPro is trying to increase the demand for its brand-name action cameras — once mandatory for surfers, parachutists, and other action fans — as competition intensifies.
Last month, the company forecast revenue in the fourth quarter below analysts' estimates, as it struggles with declining demand for its products.

The forecast turned out to be disappointing, as the company released new low-cost models of its flagship camera Hero for the holiday season.

However, GoPro said it would be profitable in the fourth quarter, and expects that the "low inventory in the channel” will be well positioned in the first quarter.

03122018

U.S. to conduct additional Keystone XL pipeline review

Posted by: administratorCategory Business | Comments: 0 | Views: 4 871

 
 
The so-called Supplemental Environmental Impact Statement was appointed by Judge Brian Morris of the US District Court in Montana in his November 8 ruling, which blocked the construction of a pipeline designed to deliver heavy Canadian oil sands to the United States.
Morris said in his ruling that Keystone XL's previous environmental analysis does not match the "hard look” on the cumulative effect of greenhouse gas emissions and the impact on land resources of Native Americans.

A pipeline worth $ 8 billion, which is supported by Canadian oil interests and US refineries, but opposes landowners and environmentalists, has been under review for a decade.

President Donald Trump announced permission for the project shortly after he took office. Former President Barack Obama condemned the construction of the gas pipeline, saying that little would help American consumers and will add greenhouse gases.

TransCanada spokesman Terry Cunha said that after the judge’s decision was announced, the State Department announced an additional review.

Earlier this week, TransCanada asked Morris, a district court judge, to allow him to resume some pre-project activities at the US level, blocked by the original ruling.
Morris’s decision on Thursday gave Calgary, an Alberta-based company permission to resume some pipeline project activities, including project development work and meetings with interested parties.

Cunha said it was not allowed to resume work on field conditions, such as moving pipes and equipment, preparing workplaces for campgrounds or carrying out road upgrades. Morris is going to decide on work after December 5th.

"It’s too early to say what the injunction on the Keystone XL highway will mean, but we are still confident that the project will be built,” Cunha said.



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