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☆ Factbox: The engine dispute at the heart of Go First's bankruptcy filing
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +3 min

Here are some details on the U.S. enginemaker's geared turbofan (GTF) engines, which Go First says are at the heart of the crisis. In 2016, Go First received its first A320neo aircraft powered by GTF engines after placing an order for 72 narrow-body jets from Airbus (AIR.PA). Pratt & Whitney is the exclusive engine supplier for the airline's A320neo aircraft fleet. The issues with the GTF engines grounded several A320neo planes in 2017, a year after the engine was launched. In India alone, IndiGo and Go First, among the biggest customers for the A320neo planes, grounded as many as 12 planes at one point, and cancelled dozens of flights.

☆ The Friendship Behind a $5 Million Barkley L. Hendricks Painting
▼ + stars: | 2023-03-16 | by ( Kelly Crow | ) www.wsj.com time to read: 1 min

Art history doesn’t know much about the unlikely friendship between Stanley Whitney and Barkley L. Hendricks. The artists were born a year apart in 1940s Philadelphia and met as art students at Yale University in the 1970s. They were both overlooked by the art market for decades but are now enjoying a revival—first Mr. Hendricks for his stylish portraits of Black people that have sold at auction for as much as $4 million apiece, and more recently Mr. Whitney for his colorful, gridded abstracts that made a splash during the last Venice Biennale.

☆ Military Contractors Square Off Over F-35 Jet Engine Program
▼ + stars: | 2023-03-08 | by ( Brody Mullins | Ted Mann | ) www.wsj.com time to read: 1 min

GE is lobbying Congress to fund an alternative engine for the Pentagon’s F-35 jet fighter. WASHINGTON—One of the biggest lobbying clashes in recent years is heating up again: the fight to fund an alternate engine to power the Pentagon’s F-35 jet fighter. More than a decade ago, engine-maker Pratt & Whitney and its allies in Congress won out over General Electric Co. to be the exclusive supplier for the next-generation fighter. Now GE is once again lobbying Congress to provide billions of dollars to fund an alternative engine it would build, citing what it calls the flaws in Pratt’s engine.

☆ Pratt & Whitney awarded $5.2 bln contract to develop engines for F-35 Lightning II
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

March 6 (Reuters) - Pratt & Whitney, a Raytheon Technologies (RTX.N) unit, said on Monday it has been awarded a $5.2 billion contract to support production of the 15th and 16th lots of F135 engines, with an option to award a 17th lot, powering all three variants of the F-35 Lightning II fighter aircraft. The total contract value for lots 15-17, with exercised options, is about $8 billion and will fund over 418 F135 engines, Pratt & Whitney said. The contract funds production of 278 F135 engines with an option to order up to 518 engines. It also includes program management, engineering support, production support and tooling. As of December 2022, Pratt & Whitney has delivered more than 1,000 F135 production engines.

☆ U.S. govt clears F-35 engine deliveries after safety concerns addressed
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +1 min

Feb 24 (Reuters) - Raytheon Technologies Corp (RTX.N) said on Friday the U.S. government has cleared its Pratt and Whitney unit to resume deliveries of its F-135 engine for the F-35 fighter jet, after a halt was put in place in December following the discovery of a safety concern. The F-35 Joint Program Office said in a statement its engineers worked alongside Pratt & Whitney and Lockheed Martin (LMT.N) to develop "mitigations for a rare system phenomenon involving harmonic resonance to develop a path forward for safe operation of the F135 in flight". "The actions the government and industry team are taking will ensure incorporation of mitigation measures that will fully address/resolve this rare phenomenon in impacted F135 engines," it added. The JPO also said the government was working on drawing up instructions for safely resuming flight operations for impacted and new production aircraft. Reporting by Tiyashi Datta in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Tata Group, which regained control of Air India last year after decades of public ownership, put out just six paragraphs. "Air India negotiated hard and the team is very sharp despite having no prior aviation experience. A second person who watched the billions fall into place said the Air India negotiators were "methodical, tough and very sophisticated". Plans for announcements on the anniversary of Tata's Air India takeover slipped as engine talks wore on. Analysts caution many obstacles remain to Air India's plans.

Jan 24 (Reuters) - Aerospace and defense major Raytheon Technologies Corp (RTX.N) on Tuesday beat analysts' estimates for fourth-quarter profit, as strong travel demand across the globe boosted demand for its jet engines, parts and services. Raytheon reported an adjusted net income of $1.27 per share in the quarter ended Dec. 31, above analysts' average estimate of $1.24 per share, according to Refinitiv data. The Arlington, Virginia based company's avionics unit, Collins Aerospace, reported a 14.6% increase in its quarterly sales and a 60.7% jump in operating profit in the reported quarter. Raytheon's missiles and defense unit's sales were up 6.2% to $4.1 billion in the fourth quarter. Raytheon's fourth-quarter net sales were up 6.2% at $18.09 billion, missing analysts' average estimate of $18.15 billion.

Now, when she opens the app, “all I see is Black women, Black people and Black businesses. She would have to specifically type in “Black girl” to find other Black women. This was created so that Black women could support Black women because nobody else seems to be.”James said she never intended to put another race down and she encouraged the trend with the purpose of showing love to Black women. “Black women are navigating the combined force of racism and sexism on a daily basis,” she added. The creator of the trend, Michele, said she applauds Black men for sometimes defending Black women on the app.

☆ Honeywell is well-positioned to capitalize on pockets of strength in the economy
▼ + stars: | 2022-12-06 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

Aerospace well positioned Honeywell's aerospace division — which supplies parts to plane makers Boeing (BA) and European rival Airbus — falls on the positive end of the economic spectrum. Warehouse automation weaker While Honeywell's warehouse automation business saw growth in the first two years of the Covid pandemic, it's been hurt by the shift in consumer spending toward services, away from goods. The change in how dollars are being spent has led to challenges for retailers and, by extension, softened demand for Honeywell's warehouse automation offerings. "We look at the other end like warehouse automation, which is really tied to retail growth and products and distribution. This means that revenue growth may decline year-over-year, but each dollar of warehouse automation sales could be more profitable in 2023 than in 2022.

☆ Airbus develops fuel-cell engine for hydrogen plane
▼ + stars: | 2022-11-30 | by ( ) www.cnbc.com time to read: +2 min

Airbus has started developing a fuel-cell engine, it said on Wednesday, sticking with plans to introduce a hydrogen-powered commercial aircraft by 2035. The system is one of several options being considered for a potential zero-emission aircaft based on hydrogen, Airbus said. Jet engine makers Rolls-Royce , General Electric , Safran and Pratt & Whitney are among its biggest suppliers. An alternative approach based on combusting liquid hydrogen in more conventional jet engines depends on heavy cooling in larger and heavier tanks. Airbus will start ground and flight testing fuel-cell architecture towards the middle of the decade, the company said during a two-day sustainability event.

☆ How influencers use Amazon to earn money, from affiliate links to livestreaming
▼ + stars: | 2022-11-26 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +6 min

Amazon Live: A livestreaming platform where creators earn a commission from every sale. Anyone who is a part of the Amazon Influencers Program can join by downloading the Amazon Live Creator app. Read more:Why Amazon Live has struggled to win over content creatorsThe main problem influencers said they have had with Amazon Live has been driving traffic to the platform. Amazon doesn't have a portal where users can see all of the Amazon influencers that they follow, unlike TikTok or YouTube. Read more:How influencers are earning money on Amazon by reviewing productsTo make money reviewing products on Amazon, creators must upload at least three videos to their individual profile page.

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%.

☆ U.S. rents surge, leaving behind generation of younger workers
▼ + stars: | 2022-09-21 | by ( Rose Horowitch | ) www.reuters.com time to read: +6 min

REUTERS/Amr AlfikySept 21 (Reuters) - The cost of renting a home in the United States is surging and young workers have felt the sharpest pain, many of them taking on additional jobs or roommates to afford housing costs. Household rents in 2021 jumped 10% from pre-pandemic levels, according to Census Bureau estimates released last week. The 23-year-old spent a year in an apartment in New York City's Queens borough with a door that wouldn’t lock. Recent college graduate Caleb Seamon, 22, started delivering for Uber Eats alongside his full-time job at a think-tank to afford housing. Even so, Seamon says he only found a New York apartment because one of his roommate's parents acted as guarantors.

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