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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.
7:16 p.m. June 28, 2020 - Associated Press
‘This is as bad as it gets,’ says Pelosi as Trump denies he was briefed on Russian bounties in Afghanistan Growing furor as president downplays allegations of bounties on U.S. troopsPresident Donald Trump on Sunday denied that he had been briefed on reported U.S. intelligence that a Russian military intelligence unit secretly offered bounties to Taliban-linked militants for killing American troops in Afghanistan, and he appeared to minimize the allegations against Moscow.
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.
6:21 a.m. June 26, 2020 - Associated Press
Suspect shot after stabbing of police officer in GlasgowA police officer in the Scottish city of Glasgow was stabbed and a male suspect shot by an armed officer in the heart of the city Friday.
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.
11:05 a.m. June 18, 2020 - Associated Press
Disinfection tunnels constructed at Putin’s home and Kremlin to protect Russian president from coronavirusThe Russian government built special tunnels to protect President Vladimir Putin from the coronavirus at home and at work, Putin’s spokesman said Wednesday.
4:27 a.m. June 18, 2020 - Associated Press
How June afternoon in Lafayette Square could join Charlottesville and Helsinki as moments that define the Trump legacyOnly a few legacy-defining moments have clung to President Donald Trump, who often appears to emerge relatively unscathed from a seemingly endless stream of crises and controversies. But the forceful clearing of demonstrators from the park across from the White House has resonated like few others, prompting top military leaders and usually lockstep Republicans to distance themselves.
1:46 p.m. June 17, 2020 - By Lina Saigol
It’s curtains for London’s West End until 2021 as ‘Hamilton’ and ‘Les Misérables’ remain closed Britain is facing an irreversible ‘cultural catastrophe’ with the U.K.’s creative industries projected to lose £74 billion ($94 billion) in revenue in 2020, according to a new report.Opening theaters in Britain will remain “immensely challenging” as long as social distancing rules remain in place, government minister says.
3:00 p.m. June 14, 2020 - Associated Press
Atlanta shooting of Rayshard Brooks sparks new protests; polarizing statues become focus in other cities Symbols of Confederacy among demonstrators’ targetsAtlanta police on Sunday quickly released body-camera and other footage that captured the shooting death of a black man by a white officer who was swiftly fired — moves that policing experts said could help defuse anti-racism protests that were reignited by the shooting.
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.
3:54 a.m. June 8, 2020 - Associated Press
German foreign minister says Berlin and Washington remain NATO partners but allows that the U.S. relationship is now ‘complicated’ President Donald Trump has ordered the Pentagon to reduce the number of U.S. troops in Germany, reports Wall Street JournalPresident Donald Trump has ordered the Pentagon to reduce the number of U.S. troops in Germany, reports Wall Street Journal.
3:53 a.m. June 8, 2020 - Associated Press
Coronavirus pandemic makes for a subdued D-Day commemoration in France Saturday marked the 76th anniversary of the pivotal World War II troop landingSaturday marked the 76th anniversary of the pivotal World War II troop landing.
8:09 a.m. June 3, 2020 - By Callum Keown
Boris Johnson urged to halt U.K. exports of tear gas and rubber bullets to the U.S. amid George Floyd protestsBritish Prime Minister Boris Johnson has been urged to stop U.K. exports of tear gas and rubber bullets to the U.S. after they were used against protesters.
2:30 a.m. June 2, 2020 - By Steve Goldstein
Pound tops $1.25 as FTSE 100 extends gainsThe pound on Tuesday moved past the $1.25 level for the first time in more than a month, getting a bid as traders price in a more optimistic global environment.
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.
3:17 a.m. May 26, 2020 - By Lina Saigol
‘Project Birch’: Treasury draws up last resort bailout plan to rescue Britain’s largest companies‘Project Birch’ could see Britain’s Treasury step in to support key British companies whose failure will “disproportionately harm the economy
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.
12:37 p.m. May 20, 2020 - Associated Press
What we know about ‘super-duper’ missiles President Trump has referred to them as “super-duper” missiles though they’re better known as hypersonic weaponsThey fly at speeds of a mile a second or faster and maneuver in ways that make them extra difficult to detect and destroy in flight.
9:06 a.m. May 20, 2020 - Associated Press
Rolls-Royce to cut 9,000 jobs as aviation reels The company employs 52,000 people overall, and didn’t specify which regions would take the hardest blowEngine maker Rolls-Royce said Wednesday it plans to cut some 9,000 jobs globally as it grapples with the collapse in air travel due to the COVID-19 pandemic.
1:56 p.m. May 19, 2020 - Associated Press
Ratcliffe narrowly wins Senate panel’s nod for DNI post; nomination heads for floor vote Texas Republican seeks to shed image as Trump loyalist as senators weigh for a second time his qualifications to serve as director of national intelligenceTexas Republican seeks to shed image as Trump loyalist as senators weigh for a second time his qualifications to serve as director of national intelligence.
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.
8:23 p.m. May 15, 2020 - Associated Press
Burr submits final Senate intelligence report on Russia election interference as he departs as committee chairman Committee asks intelligence community to quickly allow the release of a declassified version of the reportThe report on the panel’s counterintelligence findings — including whether President Donald Trump’s campaign coordinated with Russia — marks the conclusion of its Russia probe, which it first launched in January 2017.
2:22 p.m. May 13, 2020 - Associated Press
How Barr disavowal of Flynn prosecution fits into Republican project to recast Mueller probe and Russian election interference One goal is to help cast Trump, even as an incumbent president, as an outsider under attack by the Washington establishmentThe Justice Department’s move to dismiss the criminal case against Flynn marks another step in his transformation, in the eyes of Trump and his allies, from rogue adviser to victim of runaway law enforcement.
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.
4:09 p.m. May 8, 2020 - Associated Press
Trump lauds Barr after Justice Department petitions judge to dismiss criminal case against Michael Flynn Flynn admitted to lying to the FBI about contact with a Russian official, and for a time cooperated with the Mueller investigationJustice Department said it is dropping the criminal case against President Donald Trump’s first national-security adviser, Michael Flynn, abandoning a prosecution that became a rallying cry for the president and his supporters in attacking the FBI’s Trump-Russia investigation, even though prosecutors for three years have maintained that Flynn lied to the FBI in a January 2017 interview about his conversations with the Russian ambassador.
4:30 a.m. May 8, 2020 - By Michael S. Derby
Spanish flu experience in Germany helped fuel the Nazi ascent to power, New York Fed paper concludes Hitler’s party got an electoral boost in part owing to whom the pandemic hit, with younger people faring worst in the public health crisis — which ‘may also have spurred resentment of foreigners among the survivors ... , driving voters towards parties whose platform matched such sentiments’Hitler’s party got an electoral boost in part owing to whom the pandemic hit, with younger people faring worst in the public health crisis — which ‘may also have spurred resentment of foreigners among the survivors, driving voters towards parties whose platform matched such sentiments.’
12:47 p.m. May 7, 2020 - By Jess Bravin
Trump wants Supreme Court to keep Mueller grand-jury materials out of hands of House Judiciary Committee Mueller report found ‘numerous links between the Russian government and the Trump Campaign’ but ‘did not establish that members of the Trump Campaign conspired or coordinated with the Russian government in its election interference activities’Mueller report found ‘numerous links between the Russian government and the Trump Campaign’ but ‘did not establish that members of the Trump Campaign conspired or coordinated with the Russian government in its election interference activities.’
6:17 a.m. May 7, 2020 - By Archie Mitchell
Meet the seniors raising millions to combat coronavirus — first Capt. Tom, raised $39 million with his garden walks, and now Sgt. Zina has raised $26,000 by knitting British army veteran Tom Moore has turned 100 and raised the equivalent of $38 million for the U.K.’s health service, and now others are following his leadCaptain Tom has celebrated his 100th birthday and raised £32 million since the coronavirus outbreak, now others are following his lead
5:42 a.m. May 6, 2020 - Associated Press
Trump DNI nominee Ratcliffe tells Senate panel he wouldn’t politicize intelligence The Texas Republican emerged as a vigorous Trump defender as Robert Mueller testified before Congress about his probe into Russian election interference and during House impeachment hearings late last yearRep. John Ratcliffe, President Donald Trump’s pick to be the nation’s top intelligence official, was nothing if not consistent as he told lawmakers a dozen or so times that he wouldn’t allow politics to color information he took to the president. The senators kept asking.
4:03 a.m. May 6, 2020 - Associated Press
Ratcliffe faces Senate panel nine months after Trump abandoned initial plan to make him director of national intelligence Critics said the Texas congressman used Robert Mueller hearing in House last July as an audition for the jobA Senate panel is considering Texas Rep. John Ratcliffe’s nomination for director of national intelligence, holding the in-person hearing amid President Donald Trump’s shakeup of the intelligence community and under drastic new distancing rules to protect Capitol Hill from the coronavirus.
5:21 a.m. May 5, 2020 - Associated Press
Senate set to take up Trump’s nomination of Rep. John Ratcliffe as director of national intelligence Previous nomination of Ratcliffe to the post was pulled last August amid bipartisan criticism after scrutiny of his biography and experiencePrevious nomination of Ratcliffe to the post was pulled last August amid over scrutiny of his biography and experience and bipartisan criticism.
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.
4:37 a.m. April 30, 2020 - Associated Press
Allies of Trump national-security adviser Michael Flynn claim FBI notes point to entrapment Flynn is seeking to withdraw a guilty pleaThe documents were made public Wednesday evening as Flynn seeks to withdraw his guilty plea to lying to the FBI and makes broad assertions of law-enforcement misconduct. U.S. District Judge Emmet Sullivan has rejected many of the defense arguments but has yet to rule on whether Flynn can take back his guilty plea.
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