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An obesity beneficiary and a snack foods company are just a few of the top stocks to buy in December, analysts said this week. Wall Street research firms named a slew of companies that they believe have upside heading into the years end. Obin said the company has a "preponderance" of margin tailwinds for 2024, including "differentiated auto exposure, underappreciated margin expansion opportunities, and best-in-class execution." "We are including BUY-rated EL in our research team's Best-of-Breed Bison initiative, which focuses on long-term best-in-class companies with sustainable competitive moats," analyst Linda Bolton Weiser said earlier this week. Estee Lauder — DA Davidson, buy rating "We are including BUY-rated EL in our research team's Best-of-Breed Bison initiative, which focuses on long-term best-in-class companies with sustainable competitive moats.
Persons: Estee Lauder, Gracell Biotechnologies, Eli Lilly, Andrew Obin, Obin, it's, Nik Modi, Modi, MDLZ, Mondelez, LSEG, Estee Lauder DA Davidson, Linda Bolton Weiser, Bolton Weiser, Gracell, Eli Lilly — Morgan Stanley, Estee Lauder —, Davidson Organizations: CNBC, ITT, Gracell, Bank of America, RBC, ISI, pharma, ITT — Bank of America
North Korea begins spy satellite operations -KCNA
  + stars: | 2023-12-02 | by ( ) www.reuters.com   time to read: +2 min
SEOUL, Dec 3 (Reuters) - North Korea has begun reconnaissance satellite operations, state news agency KCNA said on Sunday, after the country launched its first military spy satellite last month in a move that drew new sanctions from the U.S. and its allies. North Korea says it successfully launched its first military spy satellite on Nov. 21, transmitting photos of the White House, the Pentagon, U.S. military bases and "target regions" in South Korea. The move raised regional tensions and sparked fresh sanctions from the U.S., Australia, Japan and South Korea. The article also argued that South Korea's own, first military reconnaissance launch this month proved to be self-contradictory. On Friday, a SpaceX Falcon 9 rocket carried South Korea's first spy satellite into orbit from California's Vandenberg Space Force Base.
Persons: KCNA, Kim Myung, Jihoon Lee, Jonathan Oatis Organizations: Pyongyang General Control Centre, National Aerospace Technology Administration, White, Pentagon, Korea's, Chiefs of Staff, ., SpaceX, Vandenberg Space Force Base, Thomson Locations: SEOUL, North Korea, U.S, Pyongyang, South Korea, Australia, Japan, Korean, Seoul, Lincoln
Amazon struck a deal with SpaceX to use Falcon 9 rockets to launch Amazon's low orbit satellites. The financial terms of the deal between the satellite internet competitors were not disclosed. AdvertisementAmazon and SpaceX, competitors in the satellite internet space, have inked a deal to launch satellites supporting Amazon's Project Kuiper. In response to the news breaking on X, formerly Twitter, SpaceX CEO Elon Musk said: "SpaceX launches competitor satellite systems without favor to its own satellites. Starlink began launching satellites in 2019 and has over 4,000 satellites in orbit, with plans to eventually build a constellation of about 42,000.
Persons: , SpaceX's, Jeff Bezos, Elon Musk, SpaceX's Starlink, Amazon, Starlink Organizations: SpaceX, Service, SpaceX's, United Launch Alliance, Twitter, Business
Though aerospace and defense funds understandably haven't done well in this year's faltering market, some individual stocks have posted substantial gains. U.S. support in what's turning out to be a long war in Ukraine will likely push overall contractor spending higher, benefitting aerospace and defense companies. In this era of high-tech warfare, when strategic military engagement is more about digital systems and aerial weapons than boots on the ground, aerospace and defense companies are advantageously positioned. Lucrative products include fighter jets, helicopters, parts for them, avionics products, missile guidance system, drones and anti-drone technology and support services. Curtiss-Wright Corp (CW) Projected five-year annual earnings growth: Data was not available.
Persons: Lockheed Martin, Giuseppe Cacace, Northrup Grumman, Howmet's, Wright, Woodward, Gerald R, Ford Organizations: US Air Force, USAF, Lockheed, Maktoum International Airport, Afp, Getty, U.S, Publicly, General Dynamics, TransDigm, Inc, Parsons Corp, U.S . Department of Defense, Missile Defense Agency, State Department, Department of Homeland Security, Department of Energy, Federal Aviation Administration . Products, Aerospace, Curtiss, Wright Corp, CW, N.C . Products, Woodward Inc, Huntington Ingalls Industries, Coast Guard, Ford, Pentagon Locations: Dubai, Al, Maktoum, Ukraine, Israel, Gaza, what's, Virgina, Washington, Davidson, N.C, Fort Collins , Colorado
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGE Aerospace CEO Larry Culp: New build and commercial aerospace aftermarket 'couldn't be busier'Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Larry Culp, Brian Sullivan, Organizations: GE, CNBC
Snowflake — Snowflake shares rallied more than 4% after the cloud company posted stronger-than-expected quarterly results and an upbeat fourth-quarter product revenue forecast. The company posted adjusted earnings of 25 cents per share on $734 million in revenue. That topped the profit of 16 cents per share and revenue of $713 million expected by analysts polled by LSEG, formerly known as Refinitiv. Discover Financial — Shares jumped 4.7% after the digital banking company announced it was exploring the sale of its student loan portfolio. Victoria's Secret — The women's clothing retailer surged 15.9% after providing current-quarter guidance that was largely in line with analysts' expectations.
Persons: LSEG, Phillips, Elliott, Morgan Stanley, Nutanix, Synopsys, Ally, Baird, Petco, Wells, , Samantha Subin, Yun Li, Michelle Fox, Lisa Kailai Han, Sarah Min Organizations: Dow Jones, Revenue, LSEG, Discover, Elliott Investment Management, CNBC, Hewlett Packard Enterprise, Nvidia, Jefferies, Wolfe Research, Barclays Locations:
Jefferies upgrades Pinterest and Snap to buy from hold Jefferies sees growth upside in 2024 for both stocks. " Wolfe upgrades Ally Financial to outperform from peer perform Wolfe said in its upgrade of the financial company that it's well-positioned. "In an environment where the probability of a mild recession or soft landing both appear plausible, we believe ALLY is well positioned to outperform in either scenario and upgrade shares to Outperform." "We continue to believe that Salesforce is on track to become the next quality [growth at a reasonable price] stock." Goldman Sachs reiterates Snowflake as buy Goldman Sachs stood by its buy rating on Snowflake after earnings on Wednesday.
Persons: Berenberg, Eli Lilly, Lilly, Wells, BTIG, Jefferies, Bernstein, Burger, Wolfe, TD Cowen downgrades Okta, Cowen, Stifel, Raymond James, Morgan Stanley, Bilibili, BILI, Baird, Pat Shanahan, Wells Fargo, Salesforce, Goldman Sachs, Snowflake, DUK Organizations: pharma, Nvidia, NVIDIA, Jefferies, SNAP, BK, UBS, Service Corporation, Deutsche Bank, Lattice Semiconductor, Apple, JPMorgan, Nokia, Infineon, Watch, Hewlett Packard Enterprise, Barclays, GE Healthcare, Airbus, Bank of America, Duke Energy, HSBC, Molson Coors Locations: FTCH, North America, China
The list includes senior officials from the National Aerospace Technology Administration, which oversaw the satellite launch, and the munitions industry department. Since the launch of the satellite, North Korea said that its leader, Kim Jong Un, has reviewed spy satellite photos of the White House, Pentagon and U.S. aircraft carriers at the naval base of Norfolk. Kimsuky's hacking operation has been historically focused on South Korea, Japan and the United States. The RGB is a North Korean intelligence agency that is involved in cyber warfare activities, according to analysts, and is under U.S. sanctions. Two Russia-based representatives of North Korean banks and one China-based representative were also hit with sanctions, among others.
Persons: Kim Jong, Brian Nelson, Nelson, Kimsuky, Daphne Psaledakis, David Brunnstrom, Christopher Bing, Hyonhee Shin, Sandra Maler, Gerry Doyle Organizations: Korean Central News Agency, KCNA, REUTERS, U.S . Treasury Department, North, Terrorism, Financial Intelligence, Democratic People's, National Aerospace Technology Administration, United Nations, White House, Pentagon, U.S, North Korea sparred, Security Council, Treasury, Cybersecurity, Infrastructure Agency, Security, U.S . National Security Agency, Korea's, Bureau, UN, Thomson Locations: WASHINGTON, SEOUL, United States, Korea, U.S, Australia, Japan, North Korea, Korean, Republic of Korea, Democratic People's Republic of Korea, South, New York, Norfolk, South Korea, Guam, Italy, Washington, Europe, Russia, North Korean, Iran, China, North, Seoul
US and India’s strengthening bond is weak on trust
  + stars: | 2023-11-30 | by ( Una Galani | ) www.reuters.com   time to read: +4 min
REUTERS/Kevin Lamarque Acquire Licensing RightsMUMBAI, Nov 30 (Reuters Breakingviews) - Trust between the United States and India is eroding. It says it will investigate security concerns aired by the United States. Trying that on the United States would be more consequential: Apple (AAPL.O) and Tesla (TSLA.O) are looking to build supply chains in the country, and the U.S. is the largest market for India’s people-heavy IT services companies. The United States and India may draw a quick line under the murder-for-hire episode, but it will sow a lasting seed of doubt in the relationship. Prosecutors did not name the Indian official.
Persons: Kevin Lamarque, soberly, , Justin Trudeau, Joe Biden, Narendra Modi, Saudi Arabia’s Crown Prince Mohammed bin Salman, Jamal Khashoggi, Nikhil Gupta, , Arindam Bagchi, Neil Unmack, Oliver Taslic Organizations: White, REUTERS, Rights, Reuters, U.S . Department of Justice, U.S, Companies, Micron, General Electric Aerospace, Ottawa, Global, Saudi Arabia’s Crown, Indian, U.S . Justice, New, New York City, Prosecutors, “ Security Management, Thomson Locations: India, Washington , U.S, Rights MUMBAI, United States, Delhi, American, China, Asia, Canada, U.S, Vietnam, Saudi, Istanbul, Manhattan, New York
Indonesia Approves 20% Rise in Defence Budget by 2024
  + stars: | 2023-11-29 | by ( Nov. | At P.M. | ) www.usnews.com   time to read: +1 min
JAKARTA (Reuters) - Indonesia's outgoing president has approved a 20% hike in defence spending through the end of next year, to upgrade the country's military hardware in response to geopolitical developments, its finance minister said. In a press conference on Wednesday, Sri Mulyani Indrawati said the approval came in a meeting she attended with President Joko Widodo and Defence Minister Prabowo Subianto. Prabowo is the leading candidate in the upcoming presidential election in February, and is running with Widodo's son. The defence budget will be increased from $20.75 billion to $25 billion, Sri Mulyani said. They considered them as a necessity given the condition of our military hardware as well as rising threats amid increasing geopolitical and geo-security dynamics," she said.
Persons: Sri Mulyani Indrawati, Joko Widodo, Prabowo Subianto, Prabowo, Mulyani, Lockheed Martin, Gayatri Suroyo, Ananda Teresia, Kanupriya Kapoor Organizations: Sri, Defence, Dassault Rafale, Turkish Aerospace Locations: JAKARTA, U.S
A logo of Japan Aerospace Exploration Agency (JAXA) is seen in front of a gate at the JAXA Chofu Aerospace Center Aerodrome Branch in Tokyo January 22, 2013. REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Nov 29 (Reuters) - Japan's space agency was hit with a cyberattack but the information the hackers accessed did not include anything important for rocket and satellite operations, a spokesperson said on Wednesday. "There was a possibility of unauthorised access by exploiting the vulnerability of network equipment," the spokesperson at Japan Aerospace Exploration Agency (JAXA) said, declining to elaborate on details such as when the attack took place. The space agency learned of the possibility of the unauthorised access after receiving information from an external organisation and conducting an internal investigation, the spokesperson said, declining to identify the organisation's name. Japanese media reported Wednesday that the cyberattack occurred during the summer and the police became aware of the attack and notified JAXA this autumn.
Persons: Issei Kato, Satoshi Sugiyama, Tom Hogue, Gerry Doyle Organizations: Japan Aerospace Exploration Agency, JAXA, JAXA Chofu, Branch, REUTERS, Rights, Yomiuri, Thomson Locations: Tokyo
Elon Musk's rocket firm will pay $2.2 million to rescue Pioneer after its parent company went bankrupt. SpaceX is preparing to help NASA send astronauts to the moon for the first time in over 50 years. AdvertisementSpaceX is snapping up a parachute company as it prepares to help NASA return to the moon. Elon Musk's spacecraft manufacturer is buying Pioneer Aerospace, which makes the parachutes that help the company's Dragon rockets return to Earth. According to a Florida bankruptcy filing, SpaceX will pay $2.2 million for Pioneer — whose parent company recently filed for bankruptcy.
Persons: Elon, , Rex, NASA's, Musk Organizations: SpaceX, Pioneer Aerospace, Elon Musk's, NASA, Service, International Space Station, Business Locations: Florida, Mars
"The rising geopolitical threats in APAC has been a driver of military spending for the Western nations. In addition, APAC countries have become more important for their own military expenditures, which present some opportunities for Western defense contractors through either exports or partnerships," they added. Quoting research from the Stockholm International Peace Research Institute , Bernstein said that global defense spending reached a record high of $2.2 trillion last year. Why is defense spending on the rise? For instance, South Korea's defense spending is high given its longstanding tensions with neighbor North Korea.
Persons: AllianceBernstein, Bernstein, Northrop Grumman, CNBC's Michael Bloom Organizations: Asia, Stockholm International Peace Research Institute, Boeing Co, Dassault Aviation, U.S Locations: Asia, Pacific, U.S, APAC, Stockholm, China, North Korea, North America, Europe, Russia, Japan, Australia, United Kingdom, India, Pakistan, Soviet, Vietnam, Philippines, Taiwan, Malaysia, Brunei
Here are Wednesday's biggest calls on Wall Street: Piper Sandler downgrades Hershey to neutral from overweight Piper Sandler said it's concerned about rising cocoa costs for Hershey. UBS reiterates Apple as neutral UBS said its survey checks show wait times for Apple's iPhone are almost nonexistent. Piper Sandler reiterates Charles Schwab as buy Piper Sandler said the company is a "likely beneficiary of fed rate cuts." Piper Sandler reiterates Pinterest as overweight Piper Sandler raised its price target on Pinterest to $40 per share from $37 and says trends are improving. UBS reiterates Exxon as buy UBS said it's bullish heading into Exxon's corporate plan event on Dec. 6.
Persons: Piper Sandler downgrades Hershey, Piper Sandler, it's, Guggenheim, Tesla, Truist, Canaccord, Raymond James, TD Cowen, AZN, Goldman Sachs, Leslie's, Carlyle, Wells, Wells Fargo, Apple, Jefferies, Airbnb, ABNB, Cantor Fitzgerald, Microvast, Charles Schwab, SCHW, Morgan Stanley, Bernstein, PDD, Marti, Pinterest, D.A, Davidson, Estée Lauder Organizations: Hershey, UBS, Apple, " Bank of America, underperform Bank of America, AstraZeneca, downgrades, Group, Goldman, GS, Bank of America, Union, JPMorgan, Disney, Taiwan Semiconductor, Intel, Commerce, Marti Technologies, DFS, Exxon Locations: China, Europe, Japan, America, CY24, Turkey, XOM's
Ukraine is already racing to catch up with Russia when it comes to electronic warfare. Electronic warfare, or EW, involves weapons or tactics using the electromagnetic spectrum. Pavlo Petrychenko, drone commander with Ukraine’s 59th Motorized Brigade, says destroying Russia's electronic warfare systems is crucial to Ukraine's war effort. Otherwise, there’s a real risk that electronic warfare systems can work against you, downing your own drones, Fedorov added. It’s a future where “electronic warfare capabilities, tactics are integrated into conventional force operations,” she added.
Persons: London CNN —, Pavlo Petrychenko, Pavlo Petrychenko “, ” Petrychenko, Russian jammers, Mikhail Mishustin, Valery Zaluzhny, ” Zaluzhny, Zaluzhny, Charlie Dietz, ” Dietz, Mykhailo Fedorov, ” Fedorov, Fedorov, “ oversaturating, , Petrychenko, , , Kari Bingen, Dietz Organizations: London CNN, Kyiv, Ukraine’s 59th Motorized Brigade, , CNN, High Mobility Artillery, Ukraine’s NATO, GPS, Russian Defense Ministry, TASS, Russian, Pentagon, HIMARS, Royal United Services Institute, Aerospace Security, Strategic, International Studies Locations: Ukrainian, Donetsk, Ukraine, Russia, Avdiivka, Ukraine’s, Russian, Moscow, United States, Kyiv, British
Sauerbronn, a director at Brandes Investment Partners, has co-managed the Brandes Small Cap Value Fund for the last five years. Sauerbronn did note that ideally, he'd hold stocks for longer, and in fact there are some stocks in the fund that have been there for 10 years or more. 3 favorite stocks right nowAmong the holdings in Sauerbronn's fund, industrials stand head and shoulders above the rest. But Sauerbronn has focused on positioning the fund defensively, homing in on stocks with strong balance sheets in an industry that has grown used to easy money. As the name implies, the company manufactures composite materials for companies across the aerospace market, from drones to jet engines.
Persons: Luiz Sauerbronn, Sauerbronn, Patience, It's, Barber Nichols, tanking, Max Organizations: Brandes Investment Partners, Value Fund, Business, Graham Corp, US Navy, Navy, Aerospace, Park Aerospace, Airbus, Boeing, Moog Inc Locations:
The investment case for India is hard to argue with, according to analysts at Morgan Stanley — but they warn that upcoming elections with "potential binary outcomes sets the market up for volatility." "Government policy remains supportive, and the RBI (Reserve Bank of India) executes a calibrated exit from its current hold stance. For Morgan Stanley, the downside, or bear case, to its forecast would see India's elections result in a change in government. Focus list of overweight-rated stocks Looking ahead to India in 2024, Morgan Stanley is overweight on companies in the financials, consumer discretionary, industrials and technology sectors. From the financial services sector, Morgan Stanley is overweight on ICICI Bank and insurer SBI Life Insurance .
Persons: Morgan Stanley —, Ridham Desai, Narendra Modi, Morgan Stanley, — CNBC's Michael Bloom Organizations: Bombay Stock Exchange, Reserve Bank of India, International Monetary Fund, Maruti Suzuki, Hindustan Aeronautics, Infosys, ICICI Bank, SBI Life Insurance Locations: India, U.S, Government, F2026E
RBC upgrades Boeing, sees improving sentiment around the stock
  + stars: | 2023-11-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBC upgrades Boeing, sees improving sentiment around the stockKen Herbert, aerospace & defense analyst at RBC Capital Markets, joins 'Squawk on the Street' to discuss the main element of Herbert's bullishness on Boeing's stock, why the setup is favorable for the airplane maker, the historical perspective regarding RBC's new price target for Boeing.
Persons: Ken Herbert Organizations: RBC, Boeing, RBC Capital Markets
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 20, 2023. The rebound in equities in November has brought the S&P 500 (.SPX) within a very close range of its 2023 intra-day high. Multiple policy voting members are scheduled to speak during the day, including Board Governors Christopher Waller and Michelle Bowman. ET, Dow e-minis were up 14 points, or 0.04%, S&P 500 e-minis were down 1.75 points, or 0.04%, and Nasdaq 100 e-minis were down 16.25 points, or 0.1%. Boeing added 1.7% after RBC Capital Markets upgraded the aerospace company to "outperform" from "sector perform" and set a street-high price target.
Persons: Brendan McDermid, Governors Christopher Waller, Michelle Bowman, Susannah Streeter, Hargreaves Lansdown, Jefferies, Shristi Achar, Shinjini Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Governors, Dow e, Hargreaves, Conference, Boeing, RBC Capital Markets, Thomson Locations: New York City, U.S, United States, Bengaluru
Rolls-Royce's overhaul is deceptively ambitious
  + stars: | 2023-11-28 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Nov 28 (Reuters Breakingviews) - Rolls-Royce (RR.L) boss Tufan Erginbilgic wants to push Britain's biggest aerospace company to its limit. On the face of it, Erginbilgic's targets are not overly ambitious. Analysts were already forecasting a group operating margin of 11% in 2025 on the back of an air traffic recovery, according to LSEG data, not far below Erginbilgic's goal of 13%-15%. Yet this is the same margin range of Rolls-Royce's rivals Safran (SAF.PA) and General Electric (GE.N) which make engines for short-haul flights. Rolls-Royce's engines are instead used to power so-called widebody aircraft like Airbus's A330neo, used for transatlantic flights.
Persons: Tufan Erginbilgic, Safran, Pamela Barbaglia, Julius Baer’s, Warren Buffett, Neil Unmack, Streisand Neto Organizations: Reuters, Royce, Investors, General Electric, X, Thomson
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 20, 2023. Multiple Fed policy voting members are scheduled to speak during the day, including Board Governors Christopher Waller and Michelle Bowman. Murphy & Sylvest's Nolte said investors were "digesting very, very strong gains for the month of November," referring to the declines. Declining issues outnumbered advancers for a 1.92-to-1 ratio on the NYSE and for a 1.63-to-1 ratio on the Nasdaq. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Paul Nolte, Sylvest, Governors Christopher Waller, Michelle Bowman, Murphy, Sylvest's Nolte, advancers, Shristi Achar, Shinjini Organizations: New York Stock Exchange, REUTERS, billings Boeing, RBC, Nasdaq, Federal Reserve, Murphy, Governors, Reuters, Dow Jones, Micron Technology, RBC Capital Markets, PDD Holdings, NYSE, Thomson Locations: New York City, U.S, billings, Bengaluru
Analyst Brad Capuzzi's $8 price target is 43% above where the stock closed on Monday afternoon. "Shares have substantially outperformed this year; catalyzed by the exit of the logistics business & newfound emphasis on profitability," wrote analyst Clarke Jeffries. Bank of America's Vivek Arya lifted his price target to $1,200, or more than a 26% increase from the stock's Monday close of $950.24. Herbert upgraded Boeing to outperform from sector perform and lifted his price target to $275 from $200. "We believe we are in the early stages of a significant shift in sentiment on BA stock," analyst Ken Herbert wrote.
Persons: Jefferies, Piper Sandler, Brad Capuzzi's, Capuzzi, Lisa Kailai Han, Goldman Sachs, Keith Horowitz, Horowitz, Goldman, — Lisa Kailai Han, Clarke Jeffries, Jeffries, Bernstein, Peter Weed, Weed, UBS downgrades ChargePoint, Robert Jamieson, Jamieson, bode, Timothy Arcuri, America's Vivek Arya, Arcuri, Arya, Herbert, Ken Herbert, John Hecht, Fred Imbert Organizations: CNBC, Tuesday's, RBC, Boeing, UBS, Citi Citi, UBS downgrades, UBS doesn't, Broadcom, VMWare, Bank of America, Bank, America's, RBC Capital Markets, , Jefferies Locations: underperform, LendingClub, Goldman Sachs
SummaryCompanies Aims for aerospace margin of 15-17%Expects medium-term annual operating profit of 2.8 bln stgShares rise 6.5%LONDON, Nov 28 (Reuters) - Rolls-Royce (RR.L) aims to quadruple profit in the next five years by boosting the performance of its jet engines and bearing down on costs in boss Tufan Erginbilgic's masterplan for Britain's most prestigious engineering company. That would be driven by surge in profit margins at its civil aerospace business to 15-17% from 2.5% last year. Agency Partners analyst Nick Cunningham said the targets implied Rolls-Royce was willing to shed revenues in exchange for better profitability. "If so, that is a deeper culture change from Rolls-Royce’s traditional market share optimisation approach of past decades," he said. "We will capture market share every year, but in a profitable way," he said.
Persons: Tufan, Erginbilgic, Nadja Wohlleben, Royce, Nick Cunningham, Rolls, Paul Sandle, Barbara Lewis, Mark Potter Organizations: Royce, Airbus, Boeing, REUTERS, Agency Partners, Trent, Thomson Locations: widebodies, Royce Germany, Dahlewitz, Berlin, Germany
From 2018 to 2022, South Korea was the ninth largest weapons supplier globally, ahead of Israel, the Netherlands and Turkey. In recent years, South Korea has edged out stiff competition from Western defense manufacturers and cheaper Chinese developers with government support, attractive pricing and faster delivery times. "The government will nurture the defense industry into a state-of-the-art strategic industry that leads economic growth," South Korean President Yoon Suk Yeol has stated. Today, the biggest South Korean defense companies include Hanwha, Korea Aerospace Industries, LIG Nex11 and Hyundai Rotem. But are these factors enough for South Korea to become one of the world's biggest arms dealers?
Persons: Yoon Suk Yeol, Kim Dae, Jumong Kim, Oskar Pietrewicz, Pietrewicz Organizations: Korea Aerospace Industries, LIG, Hyundai Rotem, Hanwha Aerospace, CNBC, South Korean Locations: South Korea, Israel, Netherlands, Turkey, Seoul, United States, Russia, France, Korean, Hanwha, Korea, China, Poland
Emirates announced investments of more than $1.5 billion to keep its 119-strong fleet of Airbus A380s flying. While Airbus shut down production of the A380 in 2021, the move shows Emirates' continued commitment to the jet. AdvertisementAlthough global airlines continue to retire the mammoth Airbus A380 in favor of more fuel-efficient twin-engine aircraft, Emirates is long from giving up on its flagship airplane. AdvertisementThe billion-dollar investment comes despite Airbus shutting down production of the A380 in 2021 after sending off its last double-decker to Emirates. In January, the first of 67 superjumbos completed its full cabin overhaul as part of Emirates' $2 billion retrofit program.
Persons: , Sir Tim Clark, Clark, Bob Lange, Alan Joyce Organizations: Emirates, Airbus, Service, Dubai Airshow, Collins Aerospace, Honeywell, Pratt & Whitney, Lufthansa Technik, Boeing, British Airways, Qantas, Korean, CNN Locations: Emirates, UAE, London, Los Angeles . Emirates
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