DIRS.INFO The most relevant business & tech news

Binance skirted regulation to become the world’s largest cryptocurrency exchange by trading volume. Now, the company will plead guilty to a criminal charge in the U.S. and agree to pay $4.3 billion in fines. Changpeng Zhao is scheduled to appear in Seattle federal court Tuesday afternoon and enter his plea, according to court records unsealed Tuesday. Prosecutors also unsealed a document charging Binance, which Zhao owns, with anti-money-laundering and sanctions crimes. Binance will also plead guilty and agree to pay fines totaling $4.3 billion, which includes amounts to settle civil allegations made by regulators, the people said.

Persons: Benoit Tessier, Zhao, Binance Organizations: Binance, Prosecutors Locations: U.S, Seattle

The McDonald's company logo stands on a sign outside a restaurant in Bretigny-sur-Orge, near Paris, France, July 30, 2020. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsNov 20 (Reuters) - McDonald's (MCD.N) said on Monday it would acquire investment firm Carlyle's (CG.O) 28% stake in a partnership that manages its business in mainland China, Hong Kong and Macau, as the burger chain looks to simplify its structure in the region. Reuters reported in April that Carlyle was discussing various options with financial advisers for its stake in McDonald's China, including setting up a continuation fund for the asset. There was "no better time to simplify our structure" given the benefits of China's long-term potential, McDonald's CEO Chris Kempczinski said. Reuters reported in August that Trustar Capital, formerly known as CITIC Capital, was also planning to raise a continuation fund that would allow the Chinese private equity firm to sell down its stake in McDonald's China.

Persons: Benoit Tessier, Carlyle, Chris Kempczinski, Jim Sanderson, Granth, Deborah Sophia, Anil D'Silva, Shounak Dasgupta, Shweta Agarwal Organizations: REUTERS, CITIC, HK, Reuters, CITIC Ltd, Northcoast, Thomson Locations: Bretigny, Paris, France, China, Hong Kong, Macau, McDonald's China, Bengaluru

☆ Bitcoin up more than 5% near one-week high
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: 1 min

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsNov 15 (Reuters) - Bitcoin, the world's largest cryptocurrency, rose more than 5.3% on Wednesday to $37,978, near a one-week high. It has risen about 125% so far this year. While bitcoin remains far from the investment fever pitch it hit in late 2021, the crypto sector has enjoyed a rally in recent weeks as the expected end of central bank rate-hiking cycles draws cash back into high-risk assets. Reporting by Hannah Lang in Washington Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, Hannah Lang, Chris Reese Organizations: La Maison du, REUTERS, Thomson Locations: La, Paris, France, Washington

☆ Vatican in deal with Volkswagen for all-electric car fleet by 2030
▼ + stars: | 2023-11-15 | by ( Philip Pullella | ) www.reuters.com time to read: +2 min

REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsCompanies Volkswagen AG FollowVATICAN CITY, Nov 15 (Reuters) - The Vatican on Wednesday signed an agreement with German carmaker Volkswagen to replace the city-state's entire car fleet with electric vehicles by 2030. The Vatican's fleet of cars includes dozens of vehicles, most of them dark blue. A pool of drivers take senior Vatican officials to events in Rome and beyond. Many lower-ranking Vatican officials and employees own and drive their own cars into the city-state from Rome. The statement said the Vatican would build a network of electric charging stations inside its walls and at its properties in Rome.

Persons: Pope Francis, Benoit Tessier, Mercedes, Francis, Philip Pullella, Cynthia Osterman Organizations: Prado, REUTERS, AG, VATICAN, German, Volkswagen, Skoda, Volkswagen Group, Vatican, Fiat, Thomson Locations: Marseille, France, Rome, St

☆ Salesforce's strong stock price wooed some investors during third quarter-filings
▼ + stars: | 2023-11-15 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

The two hedge funds had each cut their investments in Salesforce during the second quarter. Still Starboard Value the first activist to speak publicly in October 2022 about needed changes at Salesforce cut its stake again, the filings show. On Sept. 30, the hedge fund owned 1.7 million shares, marking a 14% drop from what it owned at the end of the second quarter. Light Street Capital Management cut its stake by 44%, while Polen Capital Management trimmed it by 3.2%, the filings show. While Salesforce's stock price lost some ground during the third quarter, it has continued to move higher and closed trading at $221.18 on Tuesday.

Persons: Porte, Benoit Tessier, Salesforce, Mason Morfit, Svea Herbst, Bayliss, Aurora Ellis Organizations: Viva Technology, Porte de, REUTERS, Capital Management, Farallon Capital Management, Elliott Investment Management, ValueAct, Investment, Securities and Exchange, Street Capital Management, Polen Capital Management, Svea, Thomson Locations: Paris, France, Salesforce, Polen

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsNov 14 (Reuters) - Bitcoin miners are making hay while the sun shines. "You're seeing a lot of urgency to plug rigs in ahead of the halving," said Gregory Lewis, analyst at brokerage BTIG that covers the 13 biggest U.S.-listed bitcoin miners. That means miners are having to use more and more power and speed to crack the complex maths puzzles that earn them a bitcoin. "It's too early to say if all bitcoin miners are out of the wood," said Ludovic Thomas, portfolio manager at Swiss-based Criptonite Asset Management that invests in digital assets.

Persons: Benoit Tessier, Gregory Lewis, Bitcoin's, Morgan, William Szamosszegi, Matteo Greco, It's, Ludovic Thomas, Medha Singh, Lisa Mattackal, Vidya Ranganathan Organizations: La Maison du, REUTERS, U.S, Fineqia, Central, Swiss, Management, Thomson, Reuters Locations: La, Paris, France, J.P, Bengaluru

☆ Boeing shares take off on report that China may lift 737 freeze, bumper Dubai orders
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

Nov 13 (Reuters) - Shares of Boeing (BA.N) rose on Monday after a report said China was considering ending its freeze on purchases of the planemaker's best-selling 737 MAX aircraft after more than four years. This, coupled with bumper jet orders from Middle Eastern airlines at the Dubai Airshow, sent Boeing shares up 4%. China is considering resuming purchases of Boeing's 737 MAX aircraft when the U.S. and Chinese presidents meet this week at the APEC summit, Bloomberg News reported on Sunday, citing people familiar with the matter. Deliveries of Boeing's bestselling 737 MAX to Chinese airlines were halted following two deadly crashes. Boeing shares have underperformed S&P 500 in 2023Boeing shares were trading at $205.15, compared with analysts' current median price target of $250, according to LSEG data.

Persons: Thomas Hayes, Benoit Tessier, Hayes, Shivansh Tiwary, Ananya Mariam Rajesh, Shilpi Majumdar Organizations: Boeing, Dubai Airshow, APEC, Bloomberg, Paris, REUTERS, Emirates, Thomson Locations: China, Middle, U.S, Le Bourget, Paris, France, Dubai, Bengaluru

☆ Emirates and flyDubai place Dubai Airshow jet orders
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

A Boeing 777-9, a variant of the 777X, performs a flying display at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 20, 2023. REUTERS/Benoit Tessier/File photo Acquire Licensing RightsDUBAI, Nov 13 (Reuters) - Dubai's Emirates placed an order for 90 more Boeing (BA.N) 777X jets at the opening of the Dubai Airshow on Monday, including both variants of the future long-haul jet. The world's largest international carrier also added five more Boeing 787s to an existing order, saying the total package of new widebody jets was worth over $50 billion at list prices. The 777X order includes 55 of the 400-seat 777-9 variant and 35 of the smaller 777-8, he told a news conference. Sister airline flyDubai also weighed in at the start of the biennial event with an order for 30 Boeing 787-9 in its first order for wide-body jets.

Persons: Benoit Tessier, Sheikh Ahmed bin Saeed Al Maktoum, flyDubai, Alexander Cornwell, Tim Hepher Organizations: Boeing, Paris, REUTERS, Rights, Dubai's Emirates, Emirates, Thomson Locations: Le Bourget, Paris, France, Rights DUBAI, Dubai

☆ French report flags Azeri-linked disinformation campaign targeting 2024 Olympics
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

According to the report seen by Reuters and other media, the campaign ran from July 26-27 on an account of an Azerbaijani individual on social media X, formerly Twitter, with links to the Azeri presidential party. However, Viginum said it had not been able to link the campaign directly to the Azerbaijani authorities. Ties between Paris and Baku have been strained in recent months and have worsened since Baku took control of the Nagorno-Karabah region. A French diplomatic source said Paris had asked Baku for clarifications on the disinformation campaign. It would also be discussing the matter with X, formerly Twitter, in the coming days, the source said.

Persons: Benoit Tessier, Viginum, Paris, John Irish, Tassilo Hummel, Jonathan Oatis Organizations: IOC, Paris, REUTERS, Rights, Reuters, Vigilance, Protection, Thomson Locations: Paris, France, Azerbaijan, Baku, Karabah, Armenia, Nagorno, Karabakh

A Boeing logo is seen at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 18, 2023. REUTERS/Benoit Tessier Acquire Licensing RightsCompanies Boeing Co FollowLONDON, Nov 10 (Reuters) - Internal data from Boeing (BA.N), one of the world's largest defence and space contractors, was published online on Friday by Lockbit, a cybercrime gang which extorts its victims by stealing and releasing data unless a ransom is paid. According to a post on Lockbit's website, the data from Boeing was published in the early hours of Friday morning. “We are aware that, in connection with this incident, a criminal ransomware actor has released information it alleges to have taken from our systems," Boeing said. The company said it "remains confident" the event does not pose a threat to aircraft or flight safety, but declined to comment on whether defense or other sensitive data had been obtained by Lockbit.

Persons: Benoit Tessier, Lockbit, Lockbit ransomware, James Pearson, Tim Hepher, Valerie Insinna, Kirsten Donovan, David Evans, Emelia Organizations: Boeing, Paris, REUTERS, Rights, Reuters, Lockbit, Cybersecurity, Infrastructure Security Agency, Industrial, Commercial Bank of China's, U.S . Treasury, Thomson Locations: Le Bourget, Paris, France, United States, India, Brazil, U.S, Washington

Spirit plans to raise $200 million via the sale of Class A common stock as well as issue $200 million in convertible debt set to mature in 2028, the company said after the closing bell on Tuesday. Its shares fell to as low as $20.98 on Wednesday following the news and are now down more than 25% year-to-date. Spirit is a major supplier of large aircraft parts such as wings and fuselages for manufacturers including Boeing (BA.N) and Airbus (AIR.PA). Last week, Spirit projected higher-than-expected cash burn for 2023, forcing it to slash anticipated deliveries of 737 fuselages. Free cash burn will be between $275 million and $325 million for 2023, up from a previous range of between $200 million to $250 million.

Persons: Benoit Tessier, Spirit, Patrick Shanahan, Tom Gentile, Shanahan, Chibuike Oguh, Lance Tupper, Sharon Singleton Organizations: Boeing, International Paris Air, Le, REUTERS, Airbus, Thomson Locations: Le Bourget, Paris, France, U.S, New York

☆ Generali has 500 mln euros left for M&A, could return it to investors, CEO says
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

An Assicurazioni Generali SpA's logo is seen on a building of their offices in Saint-Denis, near Paris, France, February 27, 2018. REUTERS/Benoit Tessier/File photo Acquire Licensing RightsMILAN, Nov 8 (Reuters) - Italy's top insurer Assicurazioni Generali (GASI.MI) still has 500 million euros ($533.10 million) left for M&A deals, which will be returned to shareholders if not used for acquisitions, its Chief Executive Philippe Donnet said on Wednesday. In June, the insurer agreed to buy the Spanish unit of U.S. insurer Liberty Mutual for 2.3 billion euros, strengthening its property and casualty segment. I cannot say whether we will make another acquisition before the end of the plan. If we do not use this cash for an acquisition, we will return it to the shareholders", Donnet said.

Persons: Denis, Benoit Tessier, Assicurazioni, Philippe Donnet, Generali, Liberty Seguros, Donnet, Gianluca Semeraro, Gavin Jones Organizations: REUTERS, Liberty Mutual, Holdings, Liberty, Thomson Locations: Saint, Paris, France, Europe, Asia, United States, Connecticut

☆ Shares of Spirit Aero down 16% as company looks to raise cash
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsWASHINGTON, Nov 7 (Reuters) - Shares of Spirit AeroSystems (SPR.N) dropped 16% in extended trade after the company announced new measures meant to raise capital for the embattled aerospace supplier. The company announced a proposed public sale of $200 million of its Class A common stock. It also plans to issue $200 million in convertible debt set to mature in 2028. Chief Financial Officer Mark Suchinski said then that the company "continue(s) to evaluate all refinancing options to address debt," including $1.2 billion of debt set to mature in 2025, "as well as our overall liquidity." Reporting by Valerie Insinna; Editing by Chris Reese and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, planemaker, Patrick Shanahan, Mark Suchinski, Valerie Insinna, Chris Reese, Stephen Coates Organizations: Boeing, International Paris Air, Le, REUTERS, Rights, Airbus, Thomson Locations: Le Bourget, Paris, France

☆ Capgemini Q3 revenue falls after decline in North America
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +1 min

The Capgemini logo is seen at the company's office in Issy-les-Moulineaux near Paris, France, August 3, 2021. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsNov 7 (Reuters) - French IT consulting group Capgemini (CAPP.PA) on Tuesday posted a 1.3% fall in third-quarter revenue at current exchange rates, including 4% fall in North America, its second-biggest market. The firm said its investment of 2 billion euros in AI was progressing "as planned" with the aim of doubling the workforce involved to 60,000 people over the three years. The Paris-based group's revenue was 5.48 billion euros ($5.87 billion) in the third quarter, down from 5.55 billion a year earlier, while its bookings rose 1% to 5.28 billion euros. ($1 = 0.9341 euros)Reporting by Lina Golovnya and Stéphanie Hamel in Gdansk; editing by Kim Coghill and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, Aiman Ezzat, chatbot, Capgemini, Lina Golovnya, Stéphanie, Kim Coghill, Jason Neely Organizations: REUTERS, French IT, Alstom, Thomson Locations: Issy, Paris, France, French, North America, United States, Europe, Gdansk

☆ How Huawei plans to rival Nvidia in the AI chip business
▼ + stars: | 2023-11-07 | by ( Josh Ye | ) www.reuters.com time to read: +4 min

Better known globally for its telecoms and smartphones businesses, Huawei has for the past four years been building an AI chip line. Here is what we know about its Ascend AI chip series, and its main product to rival Nvidia's A100 chip, the 910B. WHY AND HOW DID HUAWEI ENTER THE AI CHIP BUSINESS? Baidu ordered 1,600 of Huawei 910B chips for 200 servers in August, one source told Reuters. Analysts have estimated China's AI chip market to be worth $7 billion and grabbing market share from Nvidia could mark a win for Huawei against the United States.

Persons: Benoit Tessier, Nvidia, CANN, Liu Qingfeng, iFlyTek, Jiang Tao, Baidu, Meng Wanzhou, Josh Ye, Brenda Goh Organizations: Huawei Technologies, Viva Technology, Porte de, REUTERS, Nvidia, Huawei, Baidu, HK, HUAWEI, Reuters, Analysts, CHINA, Thomson Locations: Porte, Paris, France, HONG KONG, China, United States

☆ Burger King drags sales at parent Restaurant Brands as spending softens
▼ + stars: | 2023-11-03 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

[1/2] The Burger King company logo stands on a sign outside a restaurant in Bretigny-sur-Orge, near Paris, France, July 30, 2020. REUTERS/Benoit Tessier Acquire Licensing RightsNov 3 (Reuters) - Restaurant Brands International (QSR.TO) missed market estimates for quarterly sales on Friday as lingering inflation pinched spending at its Burger King chain, eclipsing higher demand for Tim Hortons coffees and Popeyes chicken wings. Shares of the Canada-based company fell 4%, as executives said Burger King would increase advertising and store investments under an ongoing turnaround plan, setting it up for higher costs in the current quarter. Burger King has "made a lot of progress ... but there's still a very long way from where we are to where we want to be. Total revenue at Restaurant Brands rose to $1.84 billion, but missed estimates of $1.87 billion.

Persons: Benoit Tessier, Tim Hortons, Burger, Sante Faustini III, Burger King, Josh Kobza, Footfall, there's, Kobza, Deborah Sophia, Devika Organizations: Burger King, REUTERS, Brands, Reuters, Restaurant Brands, Thomson Locations: Bretigny, Paris, France, Canada, U.S, Burger, Bengaluru

☆ Burger King weakness drives sales miss at parent Restaurant Brands
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Burger King company logo stands on a sign outside a restaurant in Bretigny-sur-Orge, near Paris, France, July 30, 2020. REUTERS/Benoit Tessier Acquire Licensing RightsNov 3 (Reuters) - Restaurant Brands International (QSR.TO) missed market estimates for quarterly sales on Friday as still-high inflation pressured consumer spending at its Burger King chain, signaling that the brand's turnaround efforts were falling short. The weak sales come despite Burger King executing a $400 million turnaround plan by streamlining menus, targeting younger consumers through better advertising and improving restaurant technology. Total same-store sales at the Burger King division rose 7.2% in the third quarter, missing estimates of 8.71%, according to LSEG IBES data. Toronto, Canada-based Restaurant Brands posted an adjusted profit of 90 cents per share, beating estimates of 86 cents.

Persons: Benoit Tessier, McDonald's, Burger, Wells Fargo, Tim Hortons, Deborah Sophia, Devika Organizations: Burger King, REUTERS, Brands, U.S ., Burger King's, Thomson Locations: Bretigny, Paris, France, U.S, Burger, Burger King's U.S, Canada, Toronto, Bengaluru

☆ Wind Power Write-Downs Cast Shadow Over Industry Outlook
▼ + stars: | 2023-11-01 | by ( Giulia Petroni | ) www.wsj.com time to read: +5 min

Wind-power developer Orsted scrapped projects in New Jersey citing supply-chain problems and high interest rates. Orsted , BP and Equinor have collectively written off $4.8 billion against U.S. offshore wind projects in recent days. Equinor, BP’s partner on the Empire Wind and Beacon Wind projects, booked an impairment of around $300 million on its U.S. portfolio. Utility Dominion Energy on Tuesday received a key federal approval for its 2.6-gigawatt offshore wind project in Virginia. And Orsted confirmed its final investment decision into Revolution Wind, an offshore 704-megawatt project in Connecticut and Rhode Island.

Persons: Wayne Parry, Orsted, Mads Nipper, henning bagger, ”, Phil Murphy ’, Martin Tessier, Stifel ’, —, Engie, Vattenfall, Russ Mould, AJ Bell, Dominic, Giulia Petroni Organizations: Associated, U.S, Agence France, Republicans, Democratic Gov, ”, BP, Iberdrola, Shell, Business, Siemens Energy, Dominion Energy, giulia.petroni@wsj.com Locations: New Jersey, U.S, Danish, New York, Connecticut, Massachusetts, Swedish, Norfolk, Virginia, Rhode Island, Asia Pacific, Europe

A Boeing logo is seen at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 18, 2023. The Lockbit threat was no longer on the gang's website as of Wednesday, and it didn't immediately respond to a request for comment. Boeing declined to comment on whether Lockbit was behind the cyber incident it disclosed. It's unclear what data Lockbit may have stolen from the company. "Paying the ransom would simply elicit a pinky promise from LockBit that they will destroy whatever data they obtained," Callow said.

Persons: Benoit Tessier, didn't, Lockbit, Brett Callow, Emsisoft, Callow, Valerie Insinna, Chris Reese, Lisa Shumaker, Jamie Freed Organizations: Boeing, Paris, REUTERS, Rights, Cybersecurity, Infrastructure Security Agency, Global Services, Services, Thomson Locations: Le Bourget, Paris, France

☆ Here's an update on 10 of our companies that reported earnings and how we feel about each stock
▼ + stars: | 2023-10-31 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

GOOGL YTD mountain Alphabet YTD Alphabet (GOOGL): The quarter from the Google parent was mixed . On one hand, we were pleased to see revenue growth acceleration and beats at Search and YouTube. For Alphabet to catch up in the AI race, it might be forced to invest more aggressively, creating an imbalance between revenue growth and expense growth. AMZN YTD mountain Amazon YTD Amazon (AMZN): This was a fantastic quarter that checked a lot of boxes for us. While AWS cloud revenue growth may not have accelerated as some optimistic bulls had hoped for, it stabilized.

Persons: Jim Cramer's, Here's, inflect, We're, Mark Zuckerberg's, Danaher, Ford, Decker YTD Stanley Black, Decker, Jim Cramer, Jim, Benoit Tessier Organizations: Jim Cramer's Charitable, CNBC, Sciences, Microsoft, Google, Web Services, LIN, Linde, Honeywell, Aerospace, Technologies, Materials, Productivity Solutions, Ford, UAW, Meta, Inc, Viva Technology, Porte de Locations: China, North America, breakeven, Porte, Paris

☆ McDonald's beats sales estimates as cheaper menu, new launches drive demand
▼ + stars: | 2023-10-30 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

[1/3] The McDonald's company logo stands on a sign outside a restaurant in Bretigny-sur-Orge, near Paris, France, July 30, 2020. Global comparable sales at McDonald's jumped 8.8% in the quarter ended Sept. 30, while analysts on average expected a 7.36% rise, according to LSEG data. While overall dining traffic fell in all three months of the quarter, McDonald's saw a 7.3% jump in July, data from Placer.ai showed. U.S. comparable sales climbed 8.1% in the quarter, beating estimates of a 7.4% increase, thanks also to higher average spending at stores. Meanwhile, same-store sales in McDonald's international operated markets increased 8.3%, edging past expectations for 8.03% growth.

Persons: Benoit Tessier, McDonald's, Deborah Sophia, Sriraj Organizations: REUTERS, McDonald's, UBS, Thomson Locations: Bretigny, Paris, France, Placer.ai, U.S, Bengaluru

☆ Hundreds of thousands rally in global cities to support Palestinians
▼ + stars: | 2023-10-28 | by ( Yann Tessier | ) www.reuters.com time to read: +4 min

[1/6] Demonstrators protest in solidarity with Palestinians in Gaza, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in London, Britain, October 28, 2023. This is why we're here: we're calling for a ceasefire, calling for Palestinian rights, the right to exist, to live, human rights, all our rights," said protester Camille Revuelta. Addressing hundreds of thousands of supporters at a huge rally in Istanbul, Turkish President Tayyip Erdogan said Israel was an occupier, and repeated his stance about Hamas not being a terrorist organisation. Some cities in France have banned rallies since the war began, fearing they could fuel social tensions, but despite a ban in Paris, a small rally took place on Saturday. In New Zealand's capital, Wellington, thousands of people holding Palestinian flags and placards reading "Free Palestine" marched to Parliament House.

Persons: Susannah Ireland, Rishi Sunak, Camille Revuelta, Israel, Tayyip Erdogan, Erdogan, Yann Tessier, Ben Makori, Will Russell, William James, Helen Popper, Alison Williams Organizations: Hamas, REUTERS, U.S, West Bank, Embassy, Police, Ece Toksabay, Reuters, Thomson Locations: Gaza, Israel, Palestinian, London, Britain, Europe, East, Asia, Western, Malaysia, Kuala Lumpur, Istanbul, Baghdad, Hebron, Palestine, Copenhagen, Rome, Stockholm, France, Paris, Marseille, New Zealand's, Wellington

☆ Air France-KLM announces a 1.3 billion euros financing agreement with Apollo
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

A logo is seen on the facade of Air France-KLM building during the presentation of the group's annual results in Paris, France, February 17, 2023. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsOct 26 (Reuters) - Air France-KLM (AIRF.PA) announced on Thursday a new financing agreement between one of its affiliate and funds and entities managed by Apollo Global Management (APO.N) in a bid to strengthen its balance sheet. The 1.3 billion euros ($1.37 billion) financing will be accounted as quasi-equity under IFRS accounting standards, the airplane carrier said in a statement. Apollo has an option to increase the nominal amount to up to 1.5 billion euros, Air France-KLM said. For Air France-KLM, this is the second cash injection from Apollo after a $560 million agreement in July.

Persons: Benoit Tessier, Victor Goury, David Gregorio Our Organizations: Air France, KLM, REUTERS, Apollo Global Management, Group, Thomson Locations: Air, Paris, France

Intra-European travel has been doing very well," said aviation analyst James Halstead, adding that limited planes meant ticket prices could stay high. Britain's easyJet (EZJ.L) said earlier this month it wanted to more than double profits and expand its fleet, even though fuel prices could mean higher ticket prices. Spot Northwest European jet fuel prices were at $957 per metric ton on Wednesday, up 5% from before the assault. JET FUELSome airlines have already warned that rising fuel costs will drive up ticket prices or dampen future earnings. He said ticket prices could go up by a mid-single digit percentage ahead of Christmas.

Persons: Charles de, Benoit Tessier, James Halstead, You've, Michael O'Leary, it's, Neil Glynn, Alexander Irving, Bernstein, Agata Rybska, Natalie Grover, Josephine Mason, Mark Potter Organizations: Lufthansa Airbus, Charles de Gaulle International Airport, REUTERS, Air France, KLM, Lufthansa, Air, Brent, JET, Ryanair, Air Control, Thomson Locations: Charles de Gaulle, Roissy, Paris, Israel, Palestinian, Europe, Air France, Ukraine, Gdansk, London

☆ Boeing trims annual 737 delivery target due to supplier errors
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +3 min

[1/2] A Boeing 737 MAX-10 performs a flying display at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 20, 2023. Despite falling short on projected 737 deliveries, Boeing stuck to its goal of generating $3 billion to $5 billion in free cash flow this year. The company also intends to keep its 737 production ramp up plan intact. The company reported a wider than expected loss of $3.26 per share, compared with average analysts' expectation of $2.96 per share, according to LSEG data. The company reported $18.1 billion in revenue, slightly beating consensus estimates of $18.0 billion.

Persons: Benoit Tessier, we've, Dave Calhoun, Planemakers, Abhijith, Valerie Insinna, Arun Koyyur Organizations: Boeing, Paris, REUTERS, Air Force, Thomson Locations: Le Bourget, Paris, France, Bengaluru, Washington

Search resuls for: "tessier"

25 mentions found