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☆ Pentagon awards $9 bln cloud contracts each to Google, Amazon, Oracle and Microsoft
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Dec 7 (Reuters) - The Pentagon on Wednesday awarded cloud computing contracts worth $9 billion each to Alphabet Inc's Google (GOOGL.O), Amazon Web Services Inc (AMZN.O), Microsoft Corp (MSFT.O) and Oracle Corp (ORCL.N). The contracts which run until 2028, will provide the Department of Defense with enterprise-wide, globally available cloud services across all security domains and classification levels. The move comes months after the Pentagon had delayed its decision to award an enterprise-wide Joint Warfighting Cloud Capability (JWCC) contract earlier this year. The deal puts the military more in line with private-sector companies, many of whom split up their cloud computing work among multiple vendors to avoid being locked in to any specific one. Reporting by Nathan Gomes in Bengaluru; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ JetBlue aims to significantly reduce jet fuel emissions by 2035
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

Dec 6 (Reuters) - JetBlue Airways Corp (JBLU.O) said on Tuesday it was committed to reducing emissions related to jet fuel by 50% per revenue tonne kilometer by 2035 from 2019 levels. The New York-based carrier, whose targets align with goals of the Paris climate agreement, said it would increase investments in lower-carbon solutions within its operation and would evaluate future sustainability investments with its science-based target in mind. "We are calling on governments, aircraft and engine manufacturers, and fuel producers to support the development of the products and solutions that airlines need to achieve our ambitious goals," JetBlue Chief Executive Robin Hayes said in a statement. The carrier also added that it would accelerate the retirement of its E190 fleet, with the final E190 aircraft scheduled to exit its fleet in 2025. Reporting by Nathan Gomes in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ United Airlines nears deal for dozens of Boeing 787 Dreamliners - WSJ
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

Dec 2 (Reuters) - United Airlines Inc (UAL.O) is close to reaching a deal with Boeing (BA.N) to order dozens of the planemaker's 787 Dreamliner jets, the Wall Street Journal reported on Friday, citing people familiar with the matter. The potential order comes at a time when the industry struggles with adverse weather conditions, worker shortages and strikes over the past year, which has impacted operations. Demand for widebody jets is also returning after years of a market glut, a boost especially for Boeing, which is in the midst of a recovery from successive crises. A deal between United and Boeing could be completed as soon as this month, the report said. Reporting by Nathan Gomes in Bengaluru, Rajesh Kumar Singh in Chicago; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Tesla plans to ramp up Model Y production from Giga Texas in 2023 - Electrek
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: 1 min

Nov 30 (Reuters) - Tesla Inc (TSLA.O) is planning to ramp up production of its Model Y cars from Gigafactory Texas next year, Electrek reported on Wednesday. The electric-vehicle manufacturer is currently preparing to roll out 75,000 Model Y vehicles from Gigafactory Texas in the first quarter of 2023, according to the report. Tesla did not immediately respond to a Reuters request for comment. Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. business equipment borrowings grew 6% in October- ELFA
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

Nov 21 (Reuters) - U.S. companies borrowed 6% more in October to finance equipment investments compared with a year earlier, industry body Equipment Leasing and Finance Association (ELFA) said on Monday. The companies signed up for $11.3 billion in new loans, leases and lines of credit last month, compared with $10.7 billion a year earlier, according to ELFA. ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals totaled 77%, marginally down from 77.3% in September. The Washington-based body's leasing and finance index measures the volume of commercial equipment financed in the United States. The Equipment Leasing & Finance Foundation, ELFA's non-profit affiliate, said its confidence index in November stood at 43.7%, down from 45% in October.

☆ United Rentals to acquire Ahern Rentals for $2 billion
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

Nov 14 (Reuters) - United Rentals Inc (URI.N) said on Monday it will acquire the assets of smaller rival Ahern Rentals Inc in an all-cash deal for about $2 billion, as the equipment rental firm looks to expand its U.S. presence. Ahern was founded in 1953 and is a family-owned equipment rental firm with about 2,100 employees. It operates across 106 locations in 30 U.S. states, with a rental fleet that consists of aerial lifts. Sullivan & Cromwell LLP acted as legal advisor to United. Reporting by Nathan Gomes and Priyamvada C in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. airlines cancel 1,220 flights as tropical storm Nicole makes landfall in Florida
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

Nov 10 (Reuters) - Airlines in the United States canceled 1,220 flights on early Thursday as tropical storm Nicole made landfall in the east coast of Florida, disrupting flight schedules and forcing airports in the region to shut. Delta Air Lines (DAL.N), American Airlines Group (AAL.O) and Southwest Airlines (LUV.N) canceled more than 100 flights each, while United Airlines (UAL.O) called off 73 trips, according to flight-tracking website Flightaware.com. Nearly 990 flights were canceled on Wednesday. The Federal Aviation Administration had earlier this week warned travelers that it expected the tropical storm to strengthen and impact travel in Florida and along the southeast coast. Airports within the affected region including Orlando International, Daytona Beach International and Palm Beach International ceased operations, while Jacksonville International Airport remained open.

☆ How long will it take to know who won in U.S. midterm elections?
▼ + stars: | 2022-11-06 | by ( Jason Lange | ) www.reuters.com time to read: +4 min

Republicans would need to pick up five seats to take a majority in the House and just one to control the Senate. "When it comes to knowing the results, we should move away from talking about Election Day and think instead about election week," said Nathan Gonzales, who publishes the nonpartisan newsletter Inside Elections. BLUE MIRAGE, RED MIRAGEThe earliest vote tallies will be skewed by how quickly states count mail ballots. States including Pennsylvania and Wisconsin don't allow officials to open the envelopes until Election Day, leading to a possible "red mirage" in which Republican-leaning Election Day ballots are reported earlier, with many Democratic-leaning mail ballots counted later. California typically takes weeks to count all its ballots, in part because it counts ballots postmarked by Election Day even if they arrive days afterward.

☆ Boeing subsidiary Jeppesen's services impacted by cyber incident
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +1 min

Nov 4 (Reuters) - Boeing Co (BA.N) said on Friday its subsidiary Jeppesen was impacted by a cyber incident which affected certain flight planning products and services. Jeppesen, which provides analytical services to air carriers, said on its website it was experiencing technical issues with some products, services and communication channels and was working to restore functionality as soon as possible. "There has been some flight planning disruption, but at this time we have no reason to believe that this incident poses a threat to aircraft or flight safety," Boeing said in an email statement. The news comes after Boeing shared plans at an investor meeting in Seattle on Wednesday to accelerate its turnaround with a ramp-up in jet deliveries and higher free cash flow. Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Oct 31 (Reuters) - Emerson Electric Co (EMR.N) will sell a majority stake in its climate technologies unit to Blackstone Inc (BX.N) in a deal that values the business at $14 billion, as the U.S. industrial firm pivots to supplying to a booming automation market. Emerson's shares edged up 1% in a weak broader market as the company also beat fourth-quarter earnings and revenue. The Climate Technologies business, which will be structured as a joint venture, generated net sales of $5 billion in fiscal 2022. Emerson said it plans to use proceeds from the deal to invest in automation-related businesses and spend around $2 billion on share repurchases in 2023. Centerview Partners LLC and Goldman Sachs are financial advisers to Emerson, while Barclays is the lead financial adviser to Blackstone.

☆ Blackstone to buy majority stake in Emerson's climate tech unit in $14 bln deal
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

Oct 31 (Reuters) - Emerson Electric Co (EMR.N) will sell a majority stake in its climate technologies unit to Blackstone Inc (BX.N) in a deal that values it at $14 billion, the latest revamp by the U.S. industrial firm as it focuses on the booming automation market. Emerson's shares rose about 3.8% before the bell as the company also beat fourth-quarter earnings and revenue. Emerson, which will retain about 45% stake in the climate tech unit, said Blackstone and co-investors Abu Dhabi Investment Authority and GIC, would contribute $4.4 billion in equity toward the deal, which would be supplemented by $5.5 billion of debt financing. read moreThe Climate Technologies business, which will be structured as a joint venture, generated net sales of $5 billion in fiscal 2022. The unit includes its Copeland compressor business and products and services across residential and commercial heating and cooling.

☆ Emerson sells majority stake in climate tech unit to Blackstone
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +1 min

Oct 31 (Reuters) - Emerson Electric Co (EMR.N) is selling a majority stake in its climate technologies unit to Blackstone Inc (BX.N), the U.S. industrial firm said on Monday, in a deal that values the unit at $14 billion. The deal would give Blackstone a 55% stake in the unit. Blackstone and co-investors would contribute $4.4 billion in equity toward the deal, which would be supplemented by $5.5 billion of debt financing, Emerson said. As part of that pivot, Emerson in August also sold its unit that makes waste disposal equipment and hot water dispensers to Whirlpool Corp (WHR.N). The Blackstone deal is expected to close in the first half of 2023.

The company's shares were down 4.9% at $505 before the bell despite forecasting 4% to 5% revenue growth in 2023. Northrop had forecast 2022 sales in the range of $36.2 billion to $36.6 billion, and a profit per share between $24.50 and $25.10. Northrop, is now seeing improving trends in labor availability after struggling with labor challenges caused by the Omicron variant of COVID-19. Overall revenue rose 3% in the quarter to $8.97 billion, but missed analysts' average expectation of $9.13 billion, as per Refinitiv data. Sales at the Space Systems division, aided by higher demand for space exploration, rose about 18% to $3.16 billion, helping the Falls Church, Virginia-based company offset lower sales at the aeronautics and defense units.

☆ General Dynamics quarterly profit rises by 5%
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

Oct 26 (Reuters) - Gulfstream jet maker General Dynamics Corp (GD.N) on Wednesday reported an about 5% rise in its third-quarter profit, fueled by strong demand for chartered flights. Demand for private flights, which boomed during the pandemic, remained strong in the quarter as wealthier passengers opted to fly private. The company delivered 35 Gulfstream business jets in the quarter, compared with 31 jets a year earlier. Its book-to-bill ratio was 1.15 times compared with 1.57 times a year ago. Sales in its aerospace unit rose to $2.35 billion from $2.07 billion a year earlier, while overall revenue rose to $9.98 billion from $9.57 billion.

☆ ADM's profit doubles on high global grain demand
▼ + stars: | 2022-10-25 | by ( Mike Stone | Nathan Gomes | ) www.reuters.com time to read: +1 min

Oct 25 (Reuters) - Grain merchant Archer-Daniels-Midland Co (ADM.N) on Tuesday reported a 96% rise in its third-quarter profit, bolstered by high demand and tight global grain supplies. Global grain merchants like ADM tend to thrive when crises such as drought or war trigger shortages in parts of the world. Tight global grain supplies and strong demand for food and fuel have kept grain prices high since Russia's invasion of Ukraine, which accounted for 10% and 15% of global wheat and corn exports before the war, helping the company's bottom line. "Global demand remains robust... We're well positioned to end 2022 strong, and carry that momentum into 2023," said Chief Executive Officer Juan Luciano. Register now for FREE unlimited access to Reuters.com RegisterReporting by Arshreet Singh in Bengaluru; editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ ADM's third-quarter profit nearly doubles
▼ + stars: | 2022-10-25 | by ( Mike Stone | Nathan Gomes | ) www.reuters.com time to read: 1 min

Oct 25 (Reuters) - Global grain merchant Archer-Daniels-Midland Co (ADM.N) on Tuesday reported a 96% rise in third-quarter profit, bolstered by high demand and tight global grain supplies. Net earnings attributable to ADM were $1.03 billion, or $1.83 per share, in the three months ended Sept. 30, compared with $526 million, or $0.93 per share, a year earlier. Register now for FREE unlimited access to Reuters.com RegisterReporting by Arshreet Singh in Bengaluru; editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ First on CNN: Administration’s new Covid-19 vaccine ads target ‘high-risk’ communities
▼ + stars: | 2022-10-25 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +3 min

CNN —New ads promoting the Covid-19 vaccines are making their debut this week, targeting specific communities that have had a slow uptake of the updated shots. “These ads also reflect our commitment to equity in our COVID response and the need to redouble efforts to reach Black and Hispanic communities about the benefits of the updated vaccines,” she said. We now have updated COVID-19 vaccines to protect you against the Omicron strain.”The new ads, first reported on CNN, will run in 15 US markets, according to HHS. The ads, with a special focus on communities that have historically been underserved, are part of the Biden administration’s effort to encourage people to get their updated vaccine ahead of winter. Get CNN Health's weekly newsletter Sign up here to get The Results Are In with Dr. Sanjay Gupta every Tuesday from the CNN Health team.

Oct 25 (Reuters) - Aerospace supplier Raytheon Technologies Corp (RTX.N) on Tuesday posted a near 5% rise in its third-quarter revenue, as strong air travel demand allowed the company to sell more engines, parts and services. Register now for FREE unlimited access to Reuters.com RegisterBut on the upside, demand for aftermarket sales and services has risen at Pratt & Whitney and Raytheon's avionics and parts unit Collins Aerospace, as planes are forced to use existing fleet for longer. In the third quarter, both Collins Aerospace and Pratt & Whitney recorded double-digit sales. "We note, Raytheon (Pratt and Collins) and Safran intend to implement substantial price increases in Q4 – likely above 10% – for commercial aftermarket parts and services. However, supply chain constraints was a drag on the company's missiles and defense unit, where sales fell 6%.

☆ Union Pacific cuts volume growth forecast as worker shortage weighs
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

A Union Pacific rail car is parked at a Burlington Northern Santa Fe (BNSF) train yard in Seattle, Washington, U.S., February 10, 2017. REUTERS/Chris HelgrenOct 20 (Reuters) - Union Pacific Corp (UNP.N) on Thursday cut its annual volume growth forecast despite a rise in third-quarter shipments, as the U.S. railroad operator struggles with worker shortages. "Inflationary pressures and operational inefficiencies continued to challenge us," Union Pacific Chief Executive Officer Lance Fritz said in a statement. The company trimmed its forecast for full-year volume growth to about 3% from 4%-5%, even after a 3% rise in the third quarter led by higher coal and renewables shipments. Excluding a $114 million charge from the tentative labor deal, the company posted a net income of $3.19 per share, ahead of Refinitiv IBES estimates of $3.06 per share.

☆ Quick and stealthy new Covid-19 variants are poised to drive a winter surge
▼ + stars: | 2022-10-20 | by ( Brenda Goodman | ) edition.cnn.com time to read: +10 min

CNN —A flurry of new Covid-19 variants appears to be gaining traction globally, raising fears of a winter surge. As the US moves into the fall, Covid-19 cases are dropping. But virus experts fear that the downward trend may soon reverse itself, thanks to this gaggle of new variants. Lumped together, the variants accounted for almost 1 in 3 new Covid-19 infections nationwide last week, according to the latest estimates from the US Centers for Disease Control and Prevention. The updated bivalent booster vaccines and antiviral drugs like Paxlovid are expected to continue to be protective against severe outcomes from Covid-19 infections caused by the new variants.

☆ JetBlue, Spirit Airlines inch closer to forming fifth-largest U.S. carrier
▼ + stars: | 2022-10-19 | by ( Makiko Yamazaki | ) www.reuters.com time to read: 1 min

Spirit Airlines and jetBlue Airways logos in this illustration taken, June 21, 2022. REUTERS/Dado Ruvic/IllustrationsOct 19 (Reuters) - Shareholders of U.S. carrier Spirit Airlines Inc (<SAVE.N>) voted in favor of JetBlue Airways Corp's (<JBLU.O>) $3.8 billion takeover offer, but face an uphill struggle getting regulators to approve their combination. read moreBelow are the key events of the takeover saga:Register now for FREE unlimited access to Reuters.com RegisterReporting by Nathan Gomes and Kannaki Deka in Bengaluru; Editing by Shounak Dasgupta, Anil D'Silva and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. railroad operators' volume woes to continue next year
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +3 min

Oct 19 (Reuters) - Volume woes at U.S. railroad operators are set to spill into next year as labor shortages continue to hurt the sector that is critical in connecting consumers with businesses and finished goods, according to analysts. The North America railroad industry has also been under scrutiny for working conditions. Railroad operators have tried to increase staffing levels, partly under pressure from U.S. regulator Surface Transportation Board, but have found it tough to recruit amid labor shortages. WALL STREET SENTIMENT** The current average analyst rating on Union Pacific shares is "buy", with 15 analysts rating it "hold", and 16 "buy" or higher. ** The current average analyst rating on Canadian National shares is "hold", with 18 rating it "hold", and six "buy" or higher.

☆ Spirit Airlines shareholders vote in favor of $3.8 bln JetBlue merger
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

Airplane model is placed on displayed Spirit Airlines and jetBlue Airways logos in this illustration taken, June 21, 2022. REUTERS/Dado Ruvic/IllustrationsOct 19 (Reuters) - Shareholders of U.S. carrier Spirit Airlines Inc (SAVE.N) on Wednesday voted in favor of JetBlue Airways Corp's (JBLU.O) $3.8 billion takeover offer, moving the companies closer to creating the nation's fifth-largest carrier. Spirit and JetBlue expect to conclude the regulatory process and close the deal no later than the first half of 2024. However, New York-based Spirit in July sided with JetBlue's revised offer, a day after terminating its $2.7 billion merger deal with Frontier. read more read moreSpirit's shares were up 0.7% in morning trade on Wednesday.

☆ Jellysmack is launching a new studio that will produce months' worth of original content for creators
▼ + stars: | 2022-10-18 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +4 min

Jellysmack will produce original content for creators through its new division, JellySmash. When creators are burned out or simply seeking to scale, JellySmash can film two months' worth of videos in three days. Jellysmack on Tuesday unveiled a new original content division called JellySmash Productions that the company has been incubating for the past year. JellySmash will monetize the content by taking a cut of creators' ad dollars on the back-end of the content. Its flagship offering, the Jellysmack Creator Program, takes existing videos and optimizes them for distribution on other platforms.

☆ Squarespace, a Website-Development Firm, Names Amazon Executive as CFO
▼ + stars: | 2022-10-12 | by ( Mark Maurer | ) www.wsj.com time to read: +4 min

Mr. Gooden most recently led the finances of the unit behind Alexa, Amazon’s virtual assistant, and Echo, which sells the online retailer’s smart-speaker products. At Squarespace, Mr. Gooden is set to succeed Marcela Martin, who held the CFO role from November 2020 until July of this year. Photo: Squarespace Inc.Liz Coddington, the former vice president of finance for Amazon Web Services, in June joined exercise equipment company Peloton Interactive Inc. as CFO. Squarespace declined to make Mr. Gooden available for an interview, nor did he immediately respond to a request for comment via LinkedIn. Prior to joining Amazon, Mr. Gooden held CFO roles at companies such as payments firm SpacePointe and defunct commerce platform Solavei LLC.

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