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☆ Air China tapped as prime candidate to rebound among struggling mainland carriers
▼ + stars: | 2025-01-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Analysts are pointing to Hong Kong-traded Air China as the leading turnaround candidate among struggling Chinese airlines. 753-HK 5Y line Air China 60% below peak While 2024 saw Hong Kong's Hang Seng Index rally nearly 18%, Air China saw a more muted, low single-digit increase that left it trading more than 60% below its 2018 all-time high. That gives Air China a "significantly more attractive" valuation, close to its five-year pre-pandemic average, the DBS analysts said. Citi analysts in early December reiterated their buy rating on Air China, calling it their top travel stock pick among Chinese airlines. The analysts upgraded Air China to overweight from neutral — reversing a downgrade made in early October, according to FactSet.

Persons: Jason Sum, Paul Yong, deleverage, Trip.com, Donald Trump, Goldman Sachs, — CNBC's Michael Bloom, Sean Conlon Organizations: Air China, DBS, Citigroup, United Airline, Star Alliance, Hong Kong, Air China's, HK, China, Air, Citi, JPMorgan, Cathay Pacific, U.S, Goldman, . Locations: Hong Kong, China, U.S, Beijing, Air China, Europe, North America, Hong, Japan, Chicago

☆ The world's longest Boeing 747 passenger flight will end as airlines phase out the iconic jet. See where it still flies.
▼ + stars: | 2024-12-28 | by ( Taylor Rains | ) www.businessinsider.com time to read: +7 min

Korean Air is expected to stop flying the longest Boeing 747 passenger flight in March 2025. That's a 75% decrease from the nearly 76,000 scheduled 747 flights across 25 global carriers in 2019. AdvertisementA new world's longest 747 passenger flightWhen Korean stops flying its 747 to Atlanta in March, Lufthansa's 7,133-mile trek between Frankfurt and Buenos Aires would become the new longest passenger 747 flight by distance. Come March 2025, Lufthansa will operate the world's longest 747 flight by distance. AdvertisementAir China would run the shortest 747 flight in 2025, flying just two hours across 667 miles between Beijing and Shanghai.

Persons: Taylor Rains, Saudia, Lufthansa's, Leonid Faerberg, Arne Dedert Organizations: Korean, Boeing, Airlines, Korean Air, —, Reuters, Insider Airlines, British Airways, Dutch, KLM, Qantas, Airbus, Air, Lufthansa, Rossiya Airlines, Korea's Asiana Airlines, Asiana Airlines, New, Aeroflot, Rossiya, Getty, China's, China, Shenzhen — Locations: Seoul, Atlanta, New York, Los Angeles, Singapore, England, Air China, Korean, That's, Frankfurt, Beijing, Moscow, North America, New York City, Newark , New Jersey, Boston, Washington, DC, Miami, Chicago, San Francisco, Houston, Mexico City, Canada, Vancouver, Toronto, Brazil, China, Hong Kong, Japan, India, Argentina, Germany, South Korea, South Africa, Russia, Buenos Aires, York, Shanghai, OAG, Guangzhou, Shenzhen, Sochi

BEIJING (AP) — China vigorously protested Wednesday the U.S. Commerce Department’s latest update of export controls to prevent exports to China of advanced computer chips and the equipment to make them. The updates also introduce new requirements that make it harder for China to manufacture advanced chips in other countries. The list of manufacturing equipment that falls under the export controls also was expanded, among other changes. In an August meeting, Raimondo and her Chinese counterparts agreed to exchange information about the export controls. The two leaders met last year following the Group of 20 summit in Bali, Indonesia, shortly after the export controls were announced.

Persons: “, Gina Raimondo, ”, Raimondo, Joe Biden, Xi Jinping Organizations: BEIJING, U.S . Commerce, China’s Commerce Ministry, Chinese Commerce Ministry, . Commerce, Economic Cooperation Locations: China, Washington, U.S, Beijing, Macao, Asia, San Francisco, Bali , Indonesia

WASHINGTON (AP) — The Commerce Department on Tuesday updated and broadened its export controls to stop China from acquiring advanced computer chips and the equipment to manufacture them. “These export controls are intended to protect technologies that have clear national security or human rights implications,” Commerce Secretary Gina Raimondo said on a call with reporters. Political Cartoons View All 1211 ImagesThe updates also introduce new requirements that make it more difficult for China to manufacture advanced chips abroad. The list of manufacturing equipment that falls under the export controls has also been expanded, among other changes to the policy. The two leaders met last year following the Group of 20 summit in Bali, Indonesia, shortly after the export controls were announced.

Persons: Gina Raimondo, Raimondo, Li Qiang, Joe Biden, Xi Jinping Organizations: WASHINGTON, Commerce Department, Economic Cooperation Locations: China, Macao, U.S, Washington, Taiwan, San Francisco, Asia, Bali , Indonesia, Macau

☆ Yellen says U.S. 'soft landing' can weather strike, govt shutdown, student loan risks
▼ + stars: | 2023-09-19 | by ( David Lawder | ) www.reuters.com time to read: +5 min

U.S. Treasury Secretary Janet Yellen speaks during an interview in New York City, U.S., September 18, 2023. President Joe Biden's administration is working to encourage both sides to resolve the strike quickly, Yellen said. The U.S. Treasury market "continues to function pretty well" despite higher rates and some volatility, she said. But nothing that is really out of line with what you would expect given the volatility in the underlying market," Yellen added. CHINA "DE-RISKING"She said China's economic slowdown would have a limited impact on U.S. growth, echoing recent comments from Deputy Treasury Secretary Wally Adeyemo.

Persons: Janet Yellen, Shannon Stapleton, Yellen, Joe Biden's, Biden, Kevin McCarthy, Wally Adeyemo, Gina Raimondo's, David Lawder, Chizu Organizations: Treasury, REUTERS, . Treasury, Reuters, United Auto Workers, Federal Reserve, UAW, Detroit automakers, Republicans, U.S . Senate, U.S . Treasury, Thomson Locations: New York City, U.S, Detroit, United States, CHINA, China

NEW YORK/WASHINGTON, Sept 19 (Reuters) - Treasury Secretary Janet Yellen said U.S. growth needed to slow to a rate more in line with its potential growth rate to bring inflation back to target levels since the economy was operating at full employment. "Growth has to slow. I mean, you want growth to slow, you want it to be in line with potential when you're operating at full employment," Yellen told reporters on Tuesday on the sidelines of a climate event. "It's completely natural and desirable, that growth, the pace of growth, is slowing." Yellen did not specify what that potential growth rate was, except to say the economy has been growing above that level.

Persons: Janet Yellen, Yellen, Biden, David Lawder, Kanishka Singh, Leslie Adler, Deepa Babington Organizations: Treasury, Thomson Locations: WASHINGTON, China, U.S, United States

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