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☆ Facing fares row, Ryanair hit by new antitrust probe in Italy
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

Ryanair said on Wednesday that internal Italian flights to Sicily would be cut by 10% in its latest winter schedule, blaming the government's planned price cap. Eddie Wilson, the chief executive of Ryanair DAC, the biggest airline in the Ryanair group, said the airline opposed the measure despite the modification. During a visit to Sicily, Wilson contrasted Ryanair's expansion of foreign flights to and from the island with the reduction on domestic routes. "Italian domestic growth has sadly been negatively impacted by the Italian government's unlawful price cap decree to restrict airlines’ freedom to set low air fares," Wilson said in a statement. Ryanair has already reduced its domestic schedule for flights to Sardinia over the winter.

Persons: International Eleftherios Venizelos, Alkis, Eddie Wilson, Wilson, Alvise Armellini, Keith Weir, Cristina Carlevaro, Jason Neely, Barbara Lewis Organizations: Ryanair, Company, Europe's, International Eleftherios, REUTERS, Ryanair DAC, Thomson Locations: Italy, Sicily, ROME, Athens, Greece, Sardinia

☆ Flying taxi maker Archer settles Boeing Wisk lawsuits, shares jump
▼ + stars: | 2023-08-11 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Carlos Barria/File PhotoAug 10 (Reuters) - Air taxi maker Archer Aviation (ACHR.N) has reached an agreement with Boeing (BA.N) and its Wisk air taxi unit to settle litigation and collaborate on autonomous technology, the companies said on Thursday. In a joint statement with Boeing and Wisk, Archer said it "has agreed to make Wisk its exclusive provider of autonomy technology for future variants of Archer’s aircraft." Boeing said it is making an investment in Archer "that will support the integration of Wisk’s autonomous technology in future variants of Archer’s aircraft." Archer counter sued Wisk in 2021 "for its false and malicious extra-judicial smear campaign" and Boeing in 2022. Archer will issue warrants to Wisk for up to 13.2 million shares as part of the settlement and autonomy agreement.

Persons: Carlos Barria, Archer's, Archer, Wisk, Larry Page's Kitty, carmaker Stellantis, David Shepardson, Matthew Lewis, Lisa Shumaker Organizations: Archer Aviation, Salinas Municipal Airport, REUTERS, Air, Boeing, United Airlines, ARK Investment Management, Federal Aviation Administration, Google, Larry Page's Kitty Hawk Corp, Chrysler, U.S ., Airlines, Thomson Locations: Salinas, Salinas , California, U.S, Washington

☆ Russia's planting mines everywhere, even cruelly hiding explosives in everyday items like fridges, toys, and children's books, Ukrainian military engineers say
▼ + stars: | 2023-08-05 | by ( Jake Epstein | ) www.businessinsider.com time to read: +10 min

Russian soldiers who previously occupied Ukrainian territory left it littered with land mines. Moscow's troops hid explosives in every items like toys, fridges, and even children's books. For instance, they cruelly hide explosives in everyday household items like refrigerators, toys, and even children's books. Military sappers inspect an area for mines and non-exploded shells left after Russia's invasion in Kyiv Region, Ukraine April 21, 2022. REUTERS/Mykola TymchenkoUkrainian President Volodymyr Zelenskyy warned in April 2022 that Russian soldiers retreating in the north at the time had left mines everywhere, creating a "complete disaster."

Persons: it's, Mark Milley, sapper, Gleb Garanich, Oleksandr, Mykola Tymchenko, Volodymyr Zelenskyy, Maksym Trykur, Trykur, That's, Europe's Organizations: Service, Joint Chiefs, Staff, Ukrainian Armed Forces, REUTERS, Ukraine's, Transport Service, State Emergency Service, Special Transport Service, Mining, Mines Locations: Ukrainian, Russia, Wall, Silicon, Ukraine, Russian, Izium, Kharkiv region, Kyiv, Kyiv Region, Udy, Kharkiv, Africa

☆ Stocks making the biggest moves premarket: Carvana, Joby Aviation, Goldman Sachs, Interactive Brokers and more
▼ + stars: | 2023-07-19 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Omnicom posted second-quarter revenue of $3.61 billion, lower than forecasts of $3.67 billion, according to consensus estimates from FactSet. It narrowly beat earnings expectations, posting adjusted earnings of $1.81 per share, higher than the consensus estimates of $1.80 per share. Goldman Sachs — The bank stock declined 0.3% after Goldman Sachs missed expectations in its second-quarter earnings. Goldman also reported revenue of $10.9 billion, which was more than the expected $10.84 billion. J.B. Hunt reported second-quarter earnings of $1.81 per share on revenue of $3.13 billion.

Persons: Carvana, — Omnicom, Omnicom, Goldman Sachs, Goldman, Cinemark, J.B, . Hunt, Refinitiv, — CNBC's Michelle Fox, Alex Harring, Hakyung Kim, Jesse Pound Organizations: noteholders, Interactive, Joby Aviation, JPMorgan, Hunt Transport Services, Western, U.S, Bancorp, U.S . Bancorp, Nasdaq Locations: FactSet, Hollywood, U.S

☆ Stocks making the biggest moves midday: Carvana, Goldman Sachs, AT&T and more
▼ + stars: | 2023-07-19 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Goldman Sachs — The banking titan advanced 1.6% despite missing expectations of analysts polled by Refinitiv for earnings and revenue. The company beat expectations for earnings expectations by one cent at $1.81 per share. Elevance Health — The stock rose 6% after Elevance Health beat analysts' expectations on the top and bottom lines in its second-quarter results. J.B. Hunt Transport Services — The transportation and logistics stock rose 1.5% despite a disappointing quarterly report. Qualcomm — Shares rose 2.8% after JPMorgan added the stock to its focus list and said it's one of the firm's best growth idea.

Persons: Goldman Sachs, Refinitiv, Goldman, Elevance, J.B, Hunt, Charles Schwab —, ServiceNow, —, Samantha Subin, Hakyung Kim, Sarah Min, Jesse Pound, Michelle Fox, Yun Li Organizations: Joby, JPMorgan, FactSet, Elevance Health, Revenue, Trust, Refintiv, Hunt Transport Services, Refinitiv, Western, Street Journal, U.S . AT, Argus, Qualcomm, Cisco —, Cisco, Bank of America Locations: FactSet, Tahoe

☆ Stocks making the biggest moves after hours: Interactive Brokers, Western Alliance, Omnicom and more
▼ + stars: | 2023-07-18 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Interactive Brokers — Interactive Brokers slid 2.6% after the brokerage firm's second-quarter earnings missed estimates. The firm reported adjusted earnings of $1.32 per share, weaker than consensus estimates of $1.40 per share, according to Refinitiv. Carvana said Tuesday it will post second-quarter earnings results on Wednesday, moving the date of its report up from August 3. The global marketing company posted second-quarter revenue of $3.61 billion, lower than forecasts of $3.67 billion, according to consensus estimates from FactSet. Western Alliance Bancorp — The regional bank stock declined about 5% after Western Alliance posted second-quarter results.

Persons: Carvana, Refinitiv Organizations: Omnicom Group, Hunt Transport Services —, Hunt Transport Services, Western Alliance Bancorp, Western Alliance, Revenue Locations: FactSet, Refinitiv

☆ Wells Fargo's top ideas for the third quarter including a possible stock double
▼ + stars: | 2023-07-07 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

As the third quarter kicks into high gear, Wells Fargo is offering up its top short picks for the months ahead. Here are some of the names that made the cut: Wells Fargo highlighted consumer electronics stock Vizio as one of its top picks with about 126% upside potential with strong top-and-bottom line growth potential. VZIO YTD mountain Vizio shares in 2023 Within the technology sector, Wells Fargo also highlighted Pinterest as a third-quarter pick. Wells Fargo views the latest technological whirlwind as a "once-in-a generation product cycle" for the company that could contribute to about 17% upside potential in shares. Wells Fargo also included lithium producer Albemarle and J.B. Hunt Transport Services among its top third-quarter ideas.

Persons: Wells, Steven Cahall, Wells Fargo, Ken, Wednesday's, Gary Mobley, Albemarle, — CNBC's Michael Bloom Organizations: Technology, Nasdaq, Wall, CTV, Amazon, Hunt Transport Services Locations: Wells Fargo, Wells, J.B

[1/5] A police officer cuts marijuana plants in growing process at underground room of a house during a marijuana raid operation in Mataro, near Barcelona, Spain April 27, 2023. Consumption of marijuana and its high-potency derivatives is also booming in Barcelona itself, including in private clubs. Their model, however, faces uncertainty as the new Barcelona mayor's top security official said in March he wanted to ban cannabis clubs. In 2017, Catalonia fully legalised the clubs, fuelling their proliferation, but courts later overturned the move for procedural reasons. But many clubs, which are often barely recognisable from outside, do not stick to the rules because they are voluntary, complained Eric Asensio, head of the Catalan federation of cannabis clubs.

Persons: Pol, Antoni Salleras, Salleras, Alexis Goosdeel, Bernardo Soriano, Eric Asensio, Horaci Garcia, Joan Faus, Catarina Demony, Aislinn Laing, Andrei Khalip, Toby Chopra Organizations: REUTERS, Barcelona, BARCELONA, Reuters, Cannabis, Thomson Locations: Mataro, Barcelona, Spain, Spanish, Catalonia, Americas, Europe, Morocco, Latin America, Worth, Geneva, Amsterdam, EU, France, Catalan, Lisbon

☆ US proposes training, pilot certification rules for air taxis
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] A full-size mock-up of an electrically powered Lilium Jet air taxi is seen in a presentation bay inside a hangar at the German company’s headquarters in Oberpfaffenhofen airport outside Munich, Germany, December 2, 2022. REUTERS/Tim HepherWASHINGTON, June 7 (Reuters) - The U.S. aviation regulator said on Wednesday it was proposing comprehensive training and pilot certification rules for flying taxis, electric vertical takeoff and landing aircraft (eVTOL), which have been touted as the future of urban air mobility. Low-altitude urban aircraft have drawn intense global interest, with numerous eVTOL companies going public. In May, the FAA issued an "updated blueprint" for airspace and other changes to accommodate future air taxis. Last year, the FAA issued the airworthiness criteria that air taxi startup Joby Aviation (JOBY.N) must meet for its Model JAS4-1 eVTOL aircraft and Archer Aviation (ACHR.N) for its air taxi to be certified for use.

Persons: Tim Hepher WASHINGTON, David Shepardson, David Gregorio Our Organizations: Jet, REUTERS, U.S, Federal Aviation Administration, FAA, International Civil Aviation Organization, Airlines, Joby Aviation, Archer Aviation, Delta Air Lines, Thomson Locations: Oberpfaffenhofen, Munich, Germany, Joby, New York, Los Angeles

☆ US weighs suit against Korean Air’s planned acquisition of Asiana -Politico
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +3 min

May 18 (Reuters) - The U.S. Justice Department is considering suing to block Korean Air's (003490.KS) planned acquisition of Asiana Airlines (020560.KS), Politico reported on Thursday. In response to the report, Korean Air said the Justice Department had not made any official decision, adding the South Korean airline would continue its dialogue with the U.S. government until a final decision is made. "Korean Air has made, and continues to make, every effort to obtain all necessary approvals," the company said in a statement to Reuters. EU antitrust regulators said on Wednesday that Korean Air Lines' proposed acquisition of rival Asiana may restrict competition in passenger and cargo air transport services between Europe and South Korea. The merger between South Korea's no.1 and no.2 airlines would see Korean Air become the biggest shareholder in indebted Asiana.

☆ U.S. weighs suit against Korean Air’s planned acquisition of Asiana, Politico reports
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

May 18 (Reuters) - The U.S. Justice Department is considering suing to block Korean Air's (003490.KS) planned acquisition of Asiana Airlines (020560.KS), U.S. news website Politico reported on Thursday. The U.S. Department of Justice has been investigating the November 2020 deal for roughly two years, and is concerned that it will hurt competition on overlapping routes to the United States, the report said citing three people with knowledge of the deliberations. EU antitrust regulators also said on Wednesday that Korean Air Lines' proposed acquisition of rival Asiana may restrict competition in passenger and cargo air transport services between Europe and South Korea. The deal, announced by Korean Air in late 2020, would see it become the biggest shareholder in indebted Asiana, the biggest shake-up in the country's aviation industry in nearly three decades. Reporting by Kanjyik Ghosh in Bengaluru; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Korean Air's Asiana bid may restrict competition -EU regulators
▼ + stars: | 2023-05-17 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, May 17 (Reuters) - Korean Air Lines's (003490.KS) proposed acquisition of rival Asiana (020560.KS) may restrict competition in passenger and cargo air transport services between Europe and South Korea, EU antitrust regulators said on Wednesday. The European Commission said it had sent a statement of objections outlining its concerns, confirming a Reuters story last week. The EU competition enforcer said it had sought feedback from rival airlines, potential market entrants and customers on the potential impact of the deal. "The transaction may reduce competition in the provision of passenger transport services on four routes between South Korea and France, Germany, Italy and Spain," it said in a statement. It said the deal may also reduce competition in the provision of cargo transport services between all of Europe and South Korea.

☆ US trade deficit narrows sharply in March as exports rise
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, May 4 (Reuters) - The U.S. trade deficit narrowed sharply in March as exports increased, which could position trade to continue contributing to economic growth in the second quarter. The trade deficit contracted 9.1% to $64.2 billion, the Commerce Department said on Thursday. But consumer goods imports increased $2.4 billion, lifted by pharmaceutical preparations, other textile apparel and household goods. Adjusting for inflation, the goods trade deficit narrowed 4.4% to $99.4 billion. A smaller trade deficit was one of the contributors to the economy's 1.1% annualized growth rate in the first quarter.

☆ I'm a bear when it's called for, like in 2007. But this stock market belongs to the bulls
▼ + stars: | 2023-04-30 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

I have not been bombarded with as many warnings about how we are about to embark upon a wave of failures of all sorts — shadow banks, regional banks, commercial real estate lenders, real estate investment trusts — at any time since 2007. Let's take commercial real estate. I mention SL Green because it may be the most challenged of the REITs, real estate investment trusts, other than Vornado Realty Trust (VNO), a historically fine New York real estate concern, which just delayed its dividend. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Where the trucking and rail recession is showing up in the economic data
▼ + stars: | 2023-04-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

The decrease negatively impacts earnings for both trucking and rail where revenue is generated by moving freight. Ocean freight orders are a leading indicator of train and trucking earnings since 90% of the world's trade moves by water. This is one of three key supply chain charts that are signaling more financial potholes for trucking and rail companies. West Coast ports have been losing trade to both the East Coast ports and Gulf ports as a result of prolonged labor negotiations, though union representatives indicated last week a "tentative agreement" had been reached, but no details were provided. Trucking is needed for both container pick up at the ocean terminals and rail ramps.

☆ Jim Cramer: This is what I learned from the real first week of earnings season
▼ + stars: | 2023-04-23 | by ( Jim Cramer | ) www.cnbc.com time to read: +10 min

"Simply stated we're in a freight recession." That line, uttered last Monday by Shelley Simpson, president of J.B. Hunt (JBHT), the fourth-largest trucking company in the United States, was the most memorable of the real first week of earnings season. If so, it would know that we're dealing with much more than a freight recession. It's not enough to offset the immense deflationary pressure emanating from the regional banks and the freight recession described by J.B. Hunt. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

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☆ Drop in Transportation Stocks Foreshadows Weakening Economy
▼ + stars: | 2023-04-20 | by ( Vicky Ge Huang | ) www.wsj.com time to read: 1 min

Delta posted a quarterly loss and said consumers’ behavior is shifting in ways that can be hard to predict. Photo: ed jones/Agence France-Presse/Getty ImagesEconomically sensitive stocks, like those of transportation and small-cap companies, are trailing the broader market, reflecting growing investor concern about a potential recession. The Dow Jones Transportation Average, which tracks 20 large U.S. companies ranging from airlines to railroads to truckers, has underperformed the Dow Jones Industrial Average by about 8.3 percentage points since early February. Shares of Norfolk Southern Corp., American Airlines Group Inc. and J.B. Hunt Transport Services Inc. have dropped at least 10% over the same period.

Paris/London CNN —Demonstrators forced their way into the building that houses BlackRock’s office in Paris Thursday, taking their protest against the government’s pension reforms to the world’s biggest money manager. Videos shared on social media showed protesters entering the Centorial office block, located near the Opéra Garnier opera house, holding red flares and firing smoke bombs. BlackRock’s office is located on the third floor. Workers invade the Centorial building that houses BlackRock's office in Paris on April 6, 2023. BlackRock, the world’s largest asset manager, has played no part in the pension reforms.

☆ Alliance Aviation Services says Australian regulator delays Qantas deal review
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +1 min

March 20 (Reuters) - Australia's Alliance Aviation Services Ltd (AQZ.AX) said on Monday the country's competition regulator had delayed a review of the proposed acquisition of the charter operator by Qantas Airways Ltd (QAN.AX). The Australian Competition & Consumer Commission (ACCC) has delayed its decision until April 20, marking the fourth delay so far on the carrier's A$610.8 million ($409.97 million) buy of Alliance Aviation Services. In May last year, Qantas said it would buy the remaining 80% stake in Alliance Aviation Services in an all-stock deal to expand its footprint in the charter business. ACCC and Qantas did not immediately respond to Reuters' requests for comment. ($1 = 1.4899 Australian dollars)Reporting by Upasana Singh and Navya Mittal in Bengaluru; Editing by Tom Hogue and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. trade deficit widens moderately in January
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, March 8 (Reuters) - The U.S. trade deficit widened moderately in January as both imports and exports increased strongly. The trade deficit increased 1.6% to $68.3 billion, the Commerce Department said on Wednesday. Economists polled by Reuters had forecast the trade deficit rising to $68.9 billion. Adjusting for inflation, the goods trade deficit increased 3.6% to $101.8 billion in January. A smaller trade deficit was one of the contributors to the economy's 2.7% annualized growth rate in the fourth quarter.

☆ Machu Picchu reopens to tourists after closure over civil unrest
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +2 min

CUSCO, Peru, Feb 15 (Reuters) - The Incan citadel of Machu Picchu, one of South America's biggest tourist draws, reopened to visitors in Peru on Wednesday after several weeks of closure due to civil unrest. Although the protests and road blockades, which have been focused in the south of Peru, are ongoing, there has been a relative calm in recent days. The mountain citadel of Machu Picchu was built in the 15th century, probably for an Incan emperor. It was abandoned around the time of the Spanish conquest and rediscovered in 1911 by American explorer Hiram Bingham. Reporting by Carlos Valdez and Liamar Ramos; Writing by Rosalba O'Brien; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ $276 million was spent on 31 Spanish trains before it was realized they were too big to fit in the tunnels
▼ + stars: | 2023-02-11 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +2 min

Spanish region spent $276 million on trains before they realized they were too big to fit in the tunnels. The president of Cantabria, a region of northern Spain, called the error an "unspeakable botch." Two senior officials in the Spanish transport industry were fired earlier this week after local news outlet El Comercio reported last month that the government had spent €258 million (about $276 million) on unusable trains. Renfe — the country's national train operator — ordered the trains in 2020, granting the manufacturing contract to the transport manufacturing company CAF. This is not the first time there have been sizable train troubles in Europe: in 2014, a French rail company spent billions of euros on trains that were "too wide" for the tracks.

One of Amazon 's key air cargo operators said Monday that the e-commerce giant is scaling back on flights this year, citing lower demand and slower economic growth. Air cargo rates, which surged in recent years due to port congestion and high demand for fast deliveries, have slumped. The International Air Transport Association said last month that air cargo demand in November was down nearly 14% from the year-ago period, while capacity fell 1.9%. Through Amazon Air, the company has built up a burgeoning air network to control more aspects of the delivery process and ensure faster delivery. WATCH: How the pandemic shifted how Boeing and airlines think about air cargo

☆ Truckers Expect an Inventory-Driven Rebound Later This Year
▼ + stars: | 2023-02-01 | by ( Liz Young | ) www.wsj.com time to read: +4 min

Trucking companies are pinning hopes for a rebound in freight demand on the second half of this year, saying their retailer customers expect to resume restocking after winding down inventories over recent months. Carrier executives say they are hearing from their shipping customers that they expect to return to a more normal ordering cycle this year and start moving bigger volumes closer to the fall shopping season following volatile retail spending and distribution in 2022 that left them overstocked. Inbound volumes at U.S. ports are also down, suggesting fewer goods from overseas are flowing into domestic freight networks. “Trucking is definitely down right now,” said Tom Nightingale, CEO of AFS Logistics, a Shreveport, La.-based logistics operator. She said on a Jan. 18 earnings conference call that the company “has good signals” from shipping customers that they plan to pick up their ordering in the second quarter.

☆ PACCAR beats earnings estimates on strong demand for trucks
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +1 min

Jan 24 (Reuters) - PACCAR Inc (PCAR.O) beat market expectations for fourth-quarter earnings on Tuesday, aided by strong demand for its trucks from customers looking to replace ageing fleets. Rising e-commerce deliveries and a focus on bolstering logistics networks have driven demand for long-haul trucks, bolstering sales for companies such as PACCAR. "Good freight markets and an increased fleet age are driving strong demand...," PACCAR Vice President Darrin Siver said. Last week, logistics giant JB Hunt Transport Services (JBHT.O) also gave an upbeat forecast for the freight market this year. PACCAR said on Tuesday that U.S. and Canada Class 8 truck industry retail sales are estimated to be in the range of 270,000 and 310,000 trucks for 2023.

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