Europe’s Airbus has recently disclosed a significant drop in second-quarter profits due to the expenses related to investing in higher jetliner production. This, combined with previously announced charges in its Space Systems business, has resulted in a more than 50% decrease in adjusted operating profit to 814 million euros ($879.7 million) for the quarter. Despite
Wall Street
Global stocks edged up on Monday as investors brace for a week full of earnings reports and central bank meetings. This week could see the United States and the UK potentially opening the door to interest rate cuts, while Japan may take steps towards “normality” by raising borrowing costs. Oil prices also inched up due
The assessment by Citi strategists on the potential impact of the 2024 US presidential election on oil prices suggests that under a Trump administration, the oil market could experience a net bearish trend. This could be attributed to factors such as trade tariffs, oil-and-gas-friendly policies/deregulation, and efforts to push OPEC+ to release more oil to
Indian Prime Minister Narendra Modi’s upcoming visit to Ukraine has sparked controversy and raised eyebrows in the international community. This visit comes at a critical time, as Russia continues its war with Ukraine and faces sanctions from Western countries. Modi’s visit will mark his first time in Ukraine since the conflict began, and it follows
The U.S. Department of Justice has taken a firm stance in requiring China-based ByteDance to sell TikTok‘s U.S. assets due to concerns about national security. The department argues that TikTok, under Chinese ownership, poses a significant threat because of its access to vast amounts of personal data of Americans. The fear is that China could
One of Japan’s leading automakers, Toyota Motor, is making significant strides in the electric vehicle (EV) market with its plans to build a battery plant in Fukuoka. This new plant will supply batteries to a factory that produces the luxury Lexus brand cars, marking a strategic move for Toyota. The decision to build the battery
Juniper Networks recently reported a decrease in second-quarter revenue, falling short of analyst expectations. The company’s Q2 earnings per share (EPS) of $0.31 missed the consensus estimate of $0.44. Additionally, revenue for the quarter was $1.19 billion, below the projected $1.25 billion. These results revealed a 17% decline in revenue compared to the same period
ANZ Group recently disclosed that their investigations into bond sales, which are currently under regulatory scrutiny, have uncovered errors in data reporting. Despite these errors, the bank maintains that there is no evidence of market manipulation. The investigation aims to identify any irregularities in bond trading operations and hold accountable those responsible for any wrongdoing.
The recent lackluster quarterly results from Tesla and Alphabet have sent shockwaves through the tech-heavy Nasdaq, leading to an expected weak opening for Wall Street. Tesla experienced an 8.5% slump in premarket trading, potentially losing over $65 billion in market value after reporting its lowest profit margin in more than five years. Similarly, Google parent
In a recent announcement, Finance Minister Nirmala Sitharaman revealed that the Indian government would be reducing its planned gross market borrowing by 120 billion rupees for the financial year ending March 2025. This decision comes as a modification from the earlier 14.13 trillion rupees announced in the interim budget. The aim is to borrow a
London stocks experienced a rebound on Monday, with both the blue-chip FTSE 100 index and the mid-cap FTSE 250 showing gains. Investors were busy digesting corporate updates and evaluating the potential consequences of U.S. President Joe Biden withdrawing from the reelection race. Rentokil stood out during the trading session, surging 12.3% to claim the top
The Farnborough Airshow, an annual gathering of aviation leaders, is set to take place amid major supply chain disruptions and aircraft delays. The industry is grappling with challenges in reaching output goals, reducing carbon emissions, and overcoming safety crises. While the airshow has traditionally been a platform for major aircraft orders, this year’s event is
The U.S. Air Force’s Next Generation Air Dominance (NGAD) program, initially envisioned as a revolutionary leap in technology, is facing challenges that could lead to a significant reevaluation of its ambitious goals. With a development budget of $28.5 billion over five years, there are concerns that budget pressure, competing priorities, and changing goals may force
The aviation industry is constantly evolving, with advancements in technology paving the way for new modes of transportation. One such innovation is the electric vertical take-off and landing (eVTOL) aircraft, which promises to revolutionize urban travel. Eve, a subsidiary of Embraer, recently unveiled its full-scale prototype of a “flying taxi,” marking a significant milestone in