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Aerospace

10:31 a.m. June 30, 2020 - By Claudia Assis
Airbus to cut workforce in bid to weather its 'gravest crisis'Airbus SE said Tuesday it will cut about 15,000 jobs by next summer as it aims to "resize" its workforce and commercial-airplane operations in response to the coronavirus pandemic. "The commercial aircraft business activity has dropped by close to 40% in recent months as the industry faces an unprecedented crisis," the European plane maker said in a statement. Air traffic is not expected to recover to before COVID-19 levels before 2023 and potentially as late as 2025, so Airbus needs to take "additional measures" to reflect the industry's outlook. The largest job cuts will happen in Germany and France, with 5,100 and 5,000 positions eliminated, the company said. Airbus will rely on voluntary departures, early retirements, and long-term part-time arrangements "where appropriate" to achieve the planned workforce reduction and mitigate social impact, it said. "Airbus is facing the gravest crisis this industry has ever experienced," Chief Executive Guillaume Faury said in the statement. "The measures we have taken so far have enabled us to absorb the initial shock of this global pandemic. Now, we must ensure that we can sustain our enterprise and emerge from the crisis as a healthy, global aerospace leader, adjusting to the overwhelming challenges of our customers." American depositary shares of Airbus were fractionally higher in late trading Tuesday and shares of Boeing Co. fell more than 6%. Aircraft makers have struggled amid the pandemic as travel has slowed to a trickle and airline customers delay or forgo plane orders.
4:03 p.m. June 26, 2020 - By Laurence Norman
EU set to name countries from which tourists will be welcomed next month, and U.S. didn’t make the cut Approval by European Union’s member states for post-pandemic reopening of travel is expected SaturdayEuropean Union member states have drawn up a list of 15 countries whose citizens may be allowed to travel again to the bloc starting July 1 that excludes the U.S. but includes Canada, Japan and possibly China, diplomats said.
1:12 p.m. June 26, 2020 - Associated Press
Pentagon’s Esper seeks to reassure NATO allies amid Trump threat to reduce troops in GermanyU.S. Defense Secretary Mark Esper on Friday sought to reassure allies at NATO that Washington will consult them on any future troop movements, after President Donald Trump surprised partners at the military alliance by announcing the withdrawal of thousands of personnel from Germany.
6:49 a.m. June 24, 2020 - By Greg Robb
IMF slashes world growth outlook for 2020 and sees sluggish turnaround next year Global economy now seen contracting 4.9% in 2020, almost 2 percentage points below April forecastThe International Monetary Fund again cut its global economic forecast for 2020 on Wednesday, saying that the coronavirus pandemic has caused an unprecedented decline in global activity.
6:50 a.m. June 19, 2020 - By Steve Goldstein
This fund manager whose biggest short was Wirecard says he is the most bullish toward stocks since 2009Why one fund manager is the most optimistic he has been about the stock market in a decade.
12:36 p.m. June 12, 2020 - Associated Press
European Union urges member states to reopen borders on Monday Border closures have done little to curb coronavirus spread, says EUThe European Union on Thursday urged all its member countries to start lifting travel restrictions on their common borders from next week, saying that the closures they introduced to tackle the coronavirus do little to limit its spread.
9:06 a.m. June 10, 2020 - By Ciara Linnane
Coronavirus update: Global death toll passes 412,000, as Dr. Fauci warns that COVID-19 is far from over Starbucks expects to be profitable again by the fourth quarter, and Best Buy is letting customers back into its storesThe coronavirus pandemic that has cost more than 412,000 lives globally took just one month to span the globe and is still far from over, even as countries around the world move to lift quarantines, stay-at-home orders and other restrictions on movement.
4:54 a.m. June 10, 2020 - By Gordon Lubold
Nearly two dozen House Republicans petition Trump to reconsider troop reduction in Germany House Armed Services Committee members echo other critics in labeling Trump move a gift to Moscow“We believe that such steps would significantly damage U.S. national security as well as strengthen the position of Russia to our detriment,” the Republican members of the House Armed Services Committee said.
4:46 a.m. June 10, 2020 - By Barbara Kollmeyer
European stocks slip as investors wait to hear from Fed’s Powell Gloomy outlook from OECD darkens mood for stocksEuropean stocks rose on Wednesday after two straight sessions of declines, as investors looked ahead to comments by Federal Reserve Chairman Jerome Powell later and the central bank’s economic forecasts.
4:15 a.m. June 9, 2020 - By Pierre Briançon
France throws €15 billion at aerospace sector. It better be money well spentFrance has a vivid aeronautics sector that is being hard hit by the devastating consequences of the coronavirus outbreak. Some 100,000 industry jobs would be threatened if the state didn’t step in, finance minister Bruno Le Maire said as he announced the plan.
5:24 a.m. June 1, 2020 - By Lina Saigol
Government loans aren’t patching the hole in European corporate finances, Moody’s warnsHealth care, manufacturing and chemicals are now more exposed as the coronavirus pandemic deepens and spreads to previously resilient sectors, says Moody’s.
2:06 a.m. May 29, 2020 - By Barbara Kollmeyer
European stocks fall on rising U.S.-China tensions Renault and Rolls-Royce shares tumbleEuropean stocks fell on Friday, ahead of a press conference by U.S. President Donald Trump over China and amid rising tensions between the countries, first over the coronavirus and now over Beijing’s fresh crackdown on Hong Kong.
6:04 a.m. May 22, 2020 - By Callum Keown
EasyJet founder loses bid to oust CEO and chairman over £4.5 billion Airbus order it ‘simply cannot afford’EasyJet founder Sir Stelios Haji-Ioannou has failed in his bid to oust the airline’s CEO and chairman over the carrier’s decision not to cancel a £4.5 billion order with Airbus.
7:52 a.m. May 16, 2020 - By Claudia Assis
Delta Air to retire all of its 777 jets, in latest blow to Boeing Delta will offer more details on the changes to its fleet at a later dateDelta Air Lines Inc. plans to retire its 777 jets made by Boeing Co and replace them with Airbus SE aircraft, in another hit for the beleaguered U.S. plane maker.
9:30 p.m. May 12, 2020 - By Barbara Kollmeyer
Beware of ‘foreign tourists’ pushing up the S&P 500, then bailing when things get bumpy, says Citi Critical information for the U.S. trading day Wall Street wariness is spreading. After Goldman’s warning of an 18% stock drop earlier this week, Citigroup warns that foreign investors may be getting interested in U.S. stocks, and history shows that could be a problem.
7:51 a.m. May 2, 2020 - By Ciara Linnane
Coronavirus update: More than a million people have recovered; Trump pushes China conspiracy theory Exxon Mobil posts first quarterly loss in decades, and Clorox produces a blowout report thanks to demand for disinfecting productsThe number of patients that have recovered from the coronavirus that causes COVID-19 rose to more than a million on Friday, offering a rare piece of good news in the pandemic that has caused more than 230,000 deaths and tanked economies around the world.
5:23 a.m. April 29, 2020 - Associated Press
Airbus CEO says aviation crisis due to coronavirus still at an ‘early stage’ Chief Executive Guillaume Faury also said the company is ‘bleeding cash’Airbus says the aviation industry’s unprecedented troubles are just beginning.
8:42 a.m. April 27, 2020 - By Lina Saigol
Airbus chief executive warns plane maker is ‘bleeding cash’ and says ‘survival at stake’ Airbus warns workforce to brace for further job cuts as boss warns plane maker’s ‘survival at stake’Airbus Chief Executive Guillaume Faury tells employees in a letter that plane maker is “bleeding cash at an unprecedented speed.”
7:01 a.m. April 26, 2020 - By Michael R. Gordon
Trump-Putin joint statement on Elbe anniversary alarms Russia critics in U.S. Obama issued an anniversary declaration with Medvedev in 2010 as the U.S. sought to ‘reset’ relations with a new Russian leader; the two sides had recently signed an arms-control pactPresident Trump issued a symbolic joint statement Saturday with Russian President Vladimir Putin, in a move that has stirred debate within the Trump administration and spawned concern among some lawmakers on Capitol Hill, according to people familiar with the document.
11:23 a.m. April 24, 2020 - By Ciara Linnane
Coronavirus update: Maker of Lysol warns against injecting it and Russia sees major spike in virus cases overnight Google is halving its marketing budget and Boeing’s 737 Max fleet is expected to see further delay in resuming flightsThe manufacturer of Lysol and Dettol, health experts, and even the Environmental Protection Agency rushed to warn consumers Friday that President Donald Trump’s suggestion to inject disinfectant or use ultraviolet light to treat COVID-19 could prove lethal.
7:09 a.m. April 18, 2020 - By Kishore Mahbubani
How China could win over the post-coronavirus world and leave the U.S. behind COVID-19 pandemic may accelerate America’s declining status with traditional allies, former diplomat saysCOVID-19 pandemic may accelerate America’s declining status with traditional allies, writes former Singaporean diplomat Kishore Mahbubani.
10:40 a.m. April 16, 2020 - By Satyajit Das
The economic fallout from the coronavirus pandemic is bigger than any stimulus now in the works World governments are flying blindfolded into a monumental stormWorld governments are flying blindfolded into a monumental storm, writes Satyajit Das.
12:35 p.m. April 15, 2020 - By Joy Wiltermuth
U.S. stocks close lower as coronavirus toll slams earnings, economic data Oil stocks skid as U.S. crude settles below $20 a barrelDow finishes 1.9% lower Wednesday as investors face an onslaught of disappointing corporate earnings and weaker-than-expected economic data resulting from the COVID-19 pandemic.
1:33 a.m. April 6, 2020 - By Steve Goldstein
European stocks rally on data showing slowing growth in coronavirus spreadEuropean stocks climbed in early action on Monday on tentative signs the spread of coronavirus is slowing.
12:04 p.m. April 2, 2020 - By Ciara Linnane
Coronavirus update: 1 million global cases, 51,485 deaths and U.S. workers file for benefits in record numbers Amgen joins the race to develop a treatment and Ford’s first-quarter deliveries slide 12.5% The number of cases of the coronavirus that causes COVID-19 topped 1 million on Thursday as U.S. jobless claims soared to record levels, offering a grim look at how the illness is hurting businesses, individuals and the economy.
5:50 a.m. April 2, 2020 - By Greg Robb
U.S. trade deficit narrows 12.2% in February to $39.9 billion Both U.S. imports and exports decline, a preview of likely trends for coming monthsThe nation’s trade deficit narrowed by 12.2% in February, the Commerce Department said Thursday.
11:09 a.m. March 18, 2020 - By Myra P. Saefong
U.S. oil falls to an 18-year low as rout continues on coronavirus fears, price war Gasoline futures mark another record lowOil futures extend their plunge, sending U.S. prices to their lowest finish since 2002, as countries lock down to slow the spread of COVID-19, while Saudi Arabia and Russia remain on track to flood the world with crude in a global price war.
9:15 a.m. March 17, 2020 - By Lina Saigol
Airbus halts production in European countries hit hard by coronavirus Airbus halts production and assembly activities at its plants in France and Spain for the next four days, as governments in both countries declared a state of emergency due to the coronavirus pandemic.Airbus halts production and assembly at sites in France and Spain for the next four days as countries try to contain COVID-19 disease spread by coronavirus pandemic.
6:15 a.m. Feb. 20, 2020 - Associated Press
Airbus to cut 2,300 jobs by the end of next year The job cuts will be at the Airbus Defence and Space divisionThe job cuts will be at the Airbus Defence and Space division.
2:35 a.m. Feb. 20, 2020 - By Steve Goldstein
European stocks weaken on new coronavirus concerns Air France-KLM, Telefónica and AXA shares fallThe impact of the coronavirus outbreak is again proving a headwind as European stocks fall on Thursday.
7:03 a.m. Feb. 1, 2020 - By Joy Wiltermuth
Dow tumbles 600 points as Trump declares public health emergency for coronavirus epidemicU.S. stocks tumbled Friday, with the Dow and S&P 500 index recording their biggest one day falls since August, as fears that Chinese coronavirus epidemic would slow economic growth rattled Wall Street.
6:34 a.m. Jan. 23, 2020 - By Tim Rostan
'Doomsday Clock' minute hand moves 20 seconds closer to midnightThe Bulletin of the Atomic Scientists announced early Thursday that the minute hand on its so-called Doomsday Clock has moved closer to midnight by a third of a minute. "It is [now] 100 seconds to midnight," , the CEO of the Chicago-based group, whose stated mission is to equip the public, policy makers and scientists with the information needed to reduce man-made threats to human existence. Humanity, according to the Bulletin, is facing two existential threats -- in and nuclear war -- with cyberwarfare acting as a threat multiplier. A year ago, the group opted , on the heels of
1:18 a.m. Jan. 20, 2020 - By Barbara Kollmeyer
Softer start to the week for European stocks after hitting record levels U.S. holiday likely to keep trading volumes thinnerEuropean stocks are trading softer to start the week, with a holiday in the U.S. likely to keep the action muted for Monday.
1:07 p.m. Jan. 18, 2020 - By Lettie Teague
Wine industry in a state of ‘near panic’ as it girds for impact of Trump tariffs There is no timeline for when new tariffs — prospectively including levies as high as 100% on nearly all wine from Europe — might go into effectThere is no timeline for when new tariffs — prospectively including levies as high as 100% on nearly all wine from Europe — might go into effect.
3:00 a.m. Jan. 17, 2020 - By Barbara Kollmeyer
Dismal retail sales data report drives FTSE 100 higher and pound lower as rate-cut fever buildsU.K. stocks were climbing and the pound was falling after weaker-than-expected retail sales data.
9:29 a.m. Jan. 16, 2020 - By Tomi Kilgore
Bombardier's stock suffering biggest-ever plunge after warning of revenue declineShares of Bombardier Inc. plunged 30% in afternoon trading, toward the lowest close in nearly 4 years, after the Montreal-based planes and trains maker warned of a surprise decline in revenue, citing challenges faced by its transportation business. That puts the stock on track for the biggest-ever one-day percentage decline, surpassing the previous record of 25.6% on Jan. 15, 2015. The company said it expects fourth-quarter revenue of approximately $4.2 billion, down from $4.3 billion a year ago, and below the FactSet consensus of $4.95 billion. Transportation revenue is expected to be about $1.8 billion, below the FactSet consensus of $2.21 billion. Bombardier said it's transportation business was taking a $350 million charge related to London Overground's LoTrain project, negotiations with the Swiss Federal Railways and increased costs for projects in Germany. For 2019, the company said it now expects free cash flow to be negative $1.2 billion, compared with the cash-burn guidance provided in October of $500 million. The stock, on track for the lowest close since March 17, 2016, has now shed 23.3% over the past three months, while the Dow Jones Transportation Average has gained 8.3% and the Dow Jones Industrial Average has advanced 8.1%.
3:10 a.m. Jan. 8, 2020 - By Barbara Kollmeyer
London stocks struggle as investors gauge U.S.-Iran conflict J. Sainsbury, NMC Health and Anglo American among stocks on the moveLondon stocks struggled for traction on Wednesday as investors watched a tense geopolitical standoff after Iran targeted U.S. troops with missile strikes, days after American airstrikes killed a key Iranian general.
6:23 a.m. Jan. 6, 2020 - By Steve Goldstein
British stocks slump on Middle East worries, though oil majors and defense giant limit the fallBritish stocks slumped on Monday in a broad-based retreat on worries over Middle East tensions.
6:22 a.m. Dec. 28, 2019 - By Barbara Kollmeyer
This stock has beat Netflix as a big winner of the past decadeWall Street is set up for a quiet pre-Christmas trading session. This column is taking a look at some of the biggest stocks of the last decade, and possibly the next, via charts from StockTwits.
9:56 a.m. Dec. 20, 2019 - Associated Press
Putin defends Molotov-Ribbentrop pact, says it was the West, not Russia, that appeased HitlerRussian President Vladimir Putin on Friday strongly rejected Western criticism of a 1939 Soviet pact with Nazi Germany, arguing that Western powers, not the Soviet Union, were responsible for trying to appease the Nazis.
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