DIRS.INFO The most relevant business & tech news

☆ Biden Declares U.S. Arctic Ocean Off Limits to New Oil and Gas Leasing
▼ + stars: | 2023-03-12 | by ( Andrew Restuccia | Benoît Morenne | ) www.wsj.com time to read: 1 min

The limits apply to future leases and wouldn’t stop ConocoPhillips’s Willow project from moving forward. WASHINGTON—President Biden moved to block future oil and gas leasing in the Arctic Ocean’s federal waters, part of a sweeping plan to protect 16 million acres of land and water in Alaska. Sunday’s announcement comes as the administration is preparing to approve the massive Willow oil-drilling project in the Alaskan Arctic over the objections of environmentalists and many Democrats who wanted the project scuttled, according to people familiar with the matter.

☆ A real estate investor whose firm says it holds $282 million in assets shares 8 insider tips that will give any beginner an edge, even if they have no cash to start
▼ + stars: | 2023-03-12 | by ( Laila Maidan | ) www.businessinsider.com time to read: +10 min

But unlike other investment opportunities, real estate appealed to him because there were numerous areas where an investor could exercise control to increase the return on their investment. "The reason why I like real estate investing compared to the stock market is that the stock market is incredibly efficient. "Whereas real estate can definitely be an inefficient marketplace where you can gain the advantage." Start in places like real estate associations that regularly host events, conferences, and even breakfasts in cities across the country. You don't need a university degree to become a real-estate investor, but you can give yourself a head start with a few courses.

☆ Former owner of Portugal's TAP denies overpaying for Airbus planes
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +2 min

LISBON, March 10 (Reuters) - A former owner of Portugal's flag carrier TAP, David Neeleman, denied on Friday making a deal in 2015 to overpay for Airbus planes after prosecutors said last month they were investigating the complex leasing deal, as well as suggestions he had bought TAP shares with company money. "It is also completely absurd to say that TAP shares were bought with Airbus funds or with TAP's future cash flows," he wrote, adding that TAP exclusively used the $226 million from Airbus in ancillary benefits to pay salaries and for its cash needs. He said Atlantic Gateway had also injected its own funds into TAP and arranged a 90 million euro ($96.04 million) loan from Azul, the Brazilian airline that Neeleman founded, "on very favorable terms for TAP", saving TAP from immediate insolvency. Portugal in 2020 bought Neeleman's stake in TAP, which is under a 3.2 billion euro Brussels-approved bailout. ($1 = 0.9371 euros)Reporting by Andrei Khalip and Patricia Rua; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ A 50% rent increase? Record property demand in Dubai is creating a nightmare for some residents
▼ + stars: | 2023-03-10 | by ( Natasha Turak | ) www.cnbc.com time to read: +8 min

Beyond the property market, Dubai's economic boom is evident in everyday life. The Dubai International Financial Centre (DIFC) area of Dubai, United Arab Emirates, with the Burj Khalifa in the backdrop, Sept. 16, 2022. Property prices have, too — CBRE says that selling prices are up 11.5% on average in the year to February 2023. Christopher Pike | Bloomberg | Getty ImagesAccording to CBRE's research, in the year through February 2023, average Dubai rents increased by 27.7%. In the meantime, no one expects property prices to ease up anytime soon.

☆ Automakers are using a legal loophole to get customers an extra $7,500 tax credit — and business is booming
▼ + stars: | 2023-03-09 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Automakers might pass along the commercial EV credit to customers that lease their EVs. Last summer's Inflation Reduction Act introduced rules for new and used EVs to qualify for crucial tax credits. Startup Lucid, along with at least 10 "traditional" automakers, are leveraging the commercial credit, according to data from J.D. Meanwhile, automakers are interested in leasing EVs in part due to the commercial and used EV tax credits. Being able to pass along the commercial EV credit could bring in customers that might not have otherwise considered electric.

☆ Russia-based Insight Group acquires Deere & Co leasing arm
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

March 8 (Reuters) - Russia-based private equity firm Insight Investment Group has acquired the Russian leasing arm of farm equipment maker Deere & Co (DE.N), a state register of corporate entities showed. Insight Investment Group confirmed the acquisition of John Deere Financial LLC, a subsidiary of the U.S. company, but declined to disclose the price. Insight has issued bonds worth more than 100 billion roubles ($1.32 billion) and said it used some of those funds to buy both John Deere Financial and a leasing arm from engineering company Siemens AG (SIEGn.DE) last year. "Our goal is to build a leasing holding which will unite leasing companies with different areas of expertise," Insight Group said. "Following this strategy, we have acquired John Deere Financial and do not exclude making other deals in this market."

☆ GE to slash stake in aircraft lessor AerCap
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

March 7 (Reuters) - AerCap Holdings NV (AER.N) said on Tuesday a unit of General Electric Co (GE.N) is selling 18 million shares, worth $1.12 billion, of the aircraft lessor through an underwritten public offering. In addition, AerCap agreed to repurchase $500 million worth of its shares from GE, its largest shareholder. The Boston-based conglomerate currently has a 45.3% stake in AerCap, according to Refinitiv data. The conglomerate, through its unit GE Capital US Holdings Inc, expects to grant the underwriters a 30-day option to purchase up to 2.7 million additional ordinary shares. GE said in March 2021 it will "over time" sell its stake after AerCap bought its aircraft leasing unit in a $30 billion deal.

☆ Shares in Brazil's Azul soar as carrier sees bluer sky ahead
▼ + stars: | 2023-03-06 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

Other travel-related companies in Latin America's largest economy also soared, with shares in fellow carrier Gol Linhas Aereas Inteligentes SA (GOLL4.SA) and travel agency CVC Brasil (CVCB3.SA) rising 23% and 16%, respectively. The company also scrapped its forecast for roughly 3 billion reais cash burn in 2023. Azul expects to generate record revenue of 20 billion reais ($3.84 billion) this year and record earnings before interest, taxes, depreciation, and amortization (EBITDA) of more than 5 billion reais, roughly 40% above 2019 pre-pandemic levels, Rodgerson said. Non-adjusted figures, nonetheless, showed a positive bottom line of 231.2 million reais, reversing the previous year's loss. Total operating revenue rose 19.4% to 4.45 billion reais in the period, slightly below analysts' forecasts, while EBITDA matched expectations at 1.1 billion, up 6.9%.

☆ Ford taps masses of vehicle data to stay ahead in commercial van market
▼ + stars: | 2023-03-06 | by ( Nick Carey | ) www.reuters.com time to read: +5 min

Ford, which leads the commercial vehicle market in both Europe and the United States, launched the system in 2021. Hans Schep, European head of Ford Pro, the company's commercial vehicle business, said it is already close to hitting long-term targets of increasing vehicle "up time" by up to 60%. Ford recently announced engineering job cuts in Europe, but is still hiring software experts for its data services. Data is a huge battleground for commercial vehicle makers and competition will only intensify with electric models, which are essentially computers on wheels. Starting with 2024 models, GM will provide a range of OnStar data services free for fleet vehicles.

HOUSTON, March 6 (Reuters) - Guyana's coming auction of offshore oil exploration blocks has lured at least 10 companies including Shell, Petrobras and Chevron, to consider the decade's hottest oil region, people close to the matter said. Guyana also has begun direct negotiations on the 14 blocks and other areas with governments that have state-controlled oil companies. The proposed rules will nearly double the government's take from oil production to 27.5% of royalties and profit oil, plus a new 10% corporate tax, compared to Exxon's main contract. "We believe it is asymmetric now, and a bit in favor of the companies," Jagdeo said. The Exxon group can use 75% of the oil production to offset a variety of costs, including construction of its new Guyana headquarters.

☆ Boeing CEO Calhoun just missed out on a $7 million bonus. But he still got a raise
▼ + stars: | 2023-03-04 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Boeing CEO David Calhoun missed out on a $7 million bonus last year, but still got a raise. Boeing’s proxy filing Friday disclosed that when Calhoun started as CEO of Boeing in January of 2020, the board gave him a $7 million bonus package if he completed a list of goals by the end of 2023. Because of that, the company’s filing said Calhoun will not get the $7 million. And in February the board awarded Calhoun 25,000 shares of Boeing stock as a retention bonus. In May last year, Michael O’Leary, CEO of Ryanair — Europe’s largest discount carrier, which has ordered nearly 400 jets from Boeing since 2010 — let loose a profanity-laced criticism of Boeing management.

IndiGo, owned by InterGlobe Aviation Ltd (INGL.NS), is also comparing the A320neo with the Boeing 737 MAX as it weighs a major new order for narrow-body jets, they added. The split between wide- and narrow-body jets was not immediately clear. An IndiGo representative told Reuters the airline is constantly in talks with manufacturers as it plans its next phase of growth. IndiGo, which counts a 55% share of the domestic market, is widely expected to maintain Airbus as its supplier of narrow-body jets to squeeze out further economies of scale. Industry publication CAPA reported last month that IndiGo was looking at around 500 jets as Air India closed its own deal.

☆ Here are Friday's biggest analyst calls: Apple, Tesla, Alphabet, Kroger, Meta, Silvergate, UPS & more
▼ + stars: | 2023-03-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Friday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as a top pick Morgan Stanley said it sees a "catalyst rich event path" for the tech giant. Morgan Stanley names Alphabet, Amazon and Meta top AI picks Morgan Stanley named Alphabet, Amazon and Alphabet as top picks and said AI is at an inflection point. Barclays reiterates Alphabet as overweight Barclays said it's standing by its overweight rating on the stock but sees it range-bound for the foreseeable future. Morgan Stanley reiterates Eaton as a top pick Morgan Stanley said it sees several cyclical growth drivers for the multination power management company. Morgan Stanley names Eli Lilly as a catalyst driven idea Morgan Stanley named Eli Lilly as a catalyst driven idea, saying that the stock "levered" to a likely positive outcome from upcoming obesity drug trials.

☆ Factbox: What is the Willow project in Alaska, and why do green activists oppose it?
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +3 min

[1/2] The sun sets behind an oil drilling rig in Prudhoe Bay, Alaska on March 17, 2011. REUTERS/Lucas Jackson/File PhotoMarch 13 (Reuters) - U.S. President Joe Biden's administration on Monday announced it would approve a trimmed-down version of ConocoPhillips' Willow oil and gas drilling project in Alaska, triggering angry reactions from climate activists. Here are some details about the project:WHAT IS THE WILLOW PROJECT? The Willow project is a $6 billion proposal from ConocoPhillips (COP.N) to drill oil and gas in Alaska. The Willow project area holds an estimated 600 million barrels of oil, or more than the amount currently held in the U.S. Strategic Petroleum Reserve, the country's emergency supply.

☆ Factbox: Willow oil and gas project in Alaska sparks green opposition
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +4 min

March 3 (Reuters) - Environmental and climate activists are rallying online against ConocoPhillips’ proposed Willow oil and gas drilling project in Alaska as the administration of U.S. President Joe Biden weighs whether to greenlight the controversial plan. Here are some details about the project:WHAT IS THE WILLOW PROJECT? The Willow project is a $6 billion proposal from ConocoPhillips' (COP.N) to drill oil and gas in Alaska. The Willow project area holds an estimated 600 million barrels of oil, or more than the amount currently held in the U.S. Strategic Petroleum Reserve, the country's emergency supply. The Biden administration has also been urging U.S. oil companies to invest in boosting production to help keep consumer energy prices in check.

☆ Office Mandates. Pickleball. Beer. What Will Make Hybrid Work Stick?
▼ + stars: | 2023-03-02 | by ( Emma Goldberg | Hilary Swift | ) www.nytimes.com time to read: +1 min

The freight elevator doors opened onto 50,000 square feet of office real estate. He has plans for his company’s new office — conference rooms, a pickleball court and, of course, all of his 200 employees in the New York City area. Mr. Besmertnik conceded that it was scary to persuade his board to sign a lease doubling his office real estate in 2021. But to him, leasing a larger office was a symbol of his belief in physical, in-person collaboration. Beer?” Mr. Besmertnik offered, jokingly, at 10:15 a.m.) and sticks (employees are required to come in three days a week).

Persons: Seth Besmertnik, gestured, Besmertnik, ” Organizations: New Locations: New York City

☆ Googlers are begrudgingly testing Bard and making memes out of their new task.
▼ + stars: | 2023-02-27 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Since it's a tough time in the tech industry right now, I hope this resonates with some of you, too. Thomas Maxwell/InsiderGooglers are begrudgingly testing their company's ChatGPT competitor. CEO Sundar Pichai asked every employee to spend multiple hours testing Google's new chatbot Bard. They were tasked with improving Bard by asking it questions and flagging bad answers, in addition to their normal responsibilities. Some made memes from the conversations they've had with Bard, continuing a trend of internally mocking the chatbot.

☆ Car companies want to make billions by charging monthly fees for features like heated seats — and electric cars makes it easier than ever
▼ + stars: | 2023-02-25 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Electric cars are less profitable for automakers than gas-powered ones. There's a simple reason why: EVs aren't very profitable for automakers — and certainly nowhere near how profitable gas-powered cars. Subscriptions and additional offerings post-initial transactions are part of why automakers are especially interested in leasing their EVs. So major changes are in store as automakers navigate shifting consumer behaviors, industry headwinds, and especially, increasingly attractive competition. "This looming threat adds pressure on the traditional dealer model and threatens to impact the bottom line," the report says.

☆ U.S. business equipment borrowings grow 6% in January - ELFA
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +1 min

Feb 24 (Reuters) - U.S. companies borrowed 6% more in January to finance equipment investments from a year earlier, industry body Equipment Leasing and Finance Association (ELFA) said on Friday. New business volume, however, was down 32% month-on-month after the typical end-of-quarter, end-of-year spike in new business activity. ELFA, which reports economic activity for the $1 trillion equipment finance sector, said credit approvals were 75.1%, down from 76.6% in December. Washington-based ELFA'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 February stood at 51.8, an increase from 48.5 in January.

☆ Thinking about an electric car? Leasing might actually be a good idea
▼ + stars: | 2023-02-24 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Automakers might want to lean on leasing EVs. A car owner might also get the commercial tax credit through leasing. While Teslas have always had a higher purchase rate, EV leasing overall took a tumble in 2022, according to Experian. Car buyers obviously wouldn't get the new EV purchase tax credit with a lease, but there is a sort of loophole. Lucid recently encouraged its customers to consider leasing in order to qualify for the commercial EV credit (for cars that are too expensive or don't otherwise qualify for the purchase credit).

Lloyds set aside 1.5 billion pounds in 2022 to cover potential loan distress, a year after releasing 1.4 billion pounds of provisions as the economy rebounded from COVID-19. The bank reported pre-tax profit of 6.9 billion pounds ($8.4 billion) for 2022, unchanged on the previous year and in line with analyst forecasts it had compiled. It plans to pay a 1.6 pence per share final dividend and a share buyback of up to 2 billion pounds, taking total shareholder returns for 2022 up to 3.6 billion pounds. Expenses also rose 6% to 8.8 billion, partly due to rising wage bills as Lloyds boosted its staff bonus pool by 12% to 446 million pounds. Lloyds also said it had bought Tusker, a vehicle leasing company that provides electric vehicles via salary sacrifice schemes, for 300 million pounds.

☆ Goldman Sachs sees strong margins for these stocks in 2023
▼ + stars: | 2023-02-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Against this backdrop, Goldman Sachs outlined a slew of Russell 1000 stocks that have grown margins in 2022 and are slated to expand once again in the new year. The aircraft leasing company is expected to grow margins by 386 basis points this year after expanding by 116 basis points through the third quarter of last year. Margins for Illumina are expected to expand by 2.15% in 2023, and Goldman anticipates they will rise 1.91% for Booking Holdings. Booking saw its margins expand by 573 basis points through the third quarter, the largest among the stocks included in the screen. The company is slated to expand its margins by 69 basis points this year after a 2.54% expansion in 2022.

HONG KONG, Feb 17 (Reuters Breakingviews) - The disappearance of Bao Fan is a chilling dampener on the reopening of the world's second largest economy. China Renaissance was valued at $2.3 billion in its own IPO in 2018 when it was ranked second on China tech deals per Dealogic. Entities including China International Capital Corp (3908.HK) and Citic Securities (600030.SS), also have to grapple with President Xi Jinping’s common-prosperity campaign, making it unclear whether these firms’ erstwhile generosity will resume when advisory activity picks up. It also noted that in September Chinese authorities took Cong Lin, the bank’s president and chairman of its Hong Kong securities unit, into custody. Column by Yawen Chen in Hong Kong and Una Galani in Mumbai.

☆ In EU car data tussle, insurers and others brace for delays, disappointment
▼ + stars: | 2023-02-16 | by ( Nick Carey | ) www.reuters.com time to read: +4 min

Companies in Europe and beyond are vying for control of the crown jewels of the connected car era, namely car manufacturers' data covering everything from driving habits, to fuel consumption and tyre wear which can be used to target cash-generating services. Although the EU is currently haggling over the Data Act, a draft law governing the use of consumer and corporate data, insurers and others are pushing for auto sector-specific regulation. A proposal is expected soon after the European Commission launched a consultation last year. Ten industry groups also wrote to European Commission President Ursula von der Leyen in January urging an end to "repeated delays". A spokesperson for the European Automobile Manufacturers Association (ACEA) said the Data Act would guarantee fair access to car data, so "additional legislation on access to in-vehicle data is unlikely to achieve more".

After the retirement of Boeing Capital Corp (BCC) President Tim Myers this spring, Boeing said it would "realign" the financing arm within the commercial airplane unit while maintaining "strong coordination" with Boeing's treasury arm. Boeing Capital, a subsidiary of Boeing, provides asset-based financing and leasing to airlines. The closing of Boeing Capital continues a trend for Boeing to consolidate its operational structure and ends a significant chapter in the fast-expanding air finance industry. A Boeing spokesperson said the shift will provide airlines "with more consistent support" for arranging aircraft financing. Rob Martin, finance chief for the commercial airline business, and Boeing Treasurer David Whitehouse will be responsible for the transition, West said in the memo.

Search resuls for: "Leasing"

25 mentions found