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☆ Lockheed Martin gets U.S. Navy contract worth up to $2 bln
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: 1 min

Feb 17 (Reuters) - The U.S. Navy has awarded Lockheed Martin Corp (LMT.N) a contract worth up to $2 billion related to hypersonic weapon systems, the defense firm said on Friday, amid a global uptick in demand for arms and ammunitions. Under the contract, Lockheed will integrate the Conventional Prompt Strike (CPS) weapon system on to the navy's ZUMWALT-class destroyer stealth ships. The defense contractor will also provide launcher systems, weapon control, integrated missile components, and platform integration support for the naval platform. The contract comes as the United States and its global rivals have been developing several hypersonic weapons, which travel in the upper atmosphere at more than five times the speed of sound. Reporting by Nathan Gomes in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Ford halts production, shipments of F-150 Lightning over possible battery issue
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +1 min

Companies Ford Motor Co FollowFeb 14 (Reuters) - Ford Motor Co (F.N) said on Tuesday that it had stopped production and shipments of its F-150 Lightning electric pickup after discovering a potential battery issue during pre-delivery checks. "We are not aware of any incidences of this issue in the field," Ford spokesperson Emma Bergg said in an email. Ford added it was investigating the matter, which was earlier reported by CNBC and first reported by Motor Authority. The automaker last year added a third work crew for the electric pickup truck to capitalize on the strong demand for EV adoption. Reporting by Nathan Gomes in Bengaluru and David Shepardson; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Leaders Arsenal held at home by Brentford, sorry Spurs thrashed at Leicester
▼ + stars: | 2023-02-11 | by ( Peter Hall | ) www.reuters.com time to read: +5 min

Brighton, who have not lost this year, were held to a 1-1 draw by Crystal Palace. An eight-point advantage in the table beckoned for Mikel Arteta's side but they never looked comfortable against an enterprising Brentford who should have been ahead by halftime. The visitors got their deserved point through Ivan Toney, who pounced in the 72nd minute to head in Christian Norgaard's cross. Only Harry Kane has netted more away goals in the Premier League this season than the Brentford striker. SORRY SPURSWith manager Antonio Conte back in the dugout after missing their win against Manchester City last Sunday following gallbladder surgery, Spurs made a good start at Leicester.

☆ Delta Airlines employees to get 5% pay bump amid strong travel demand
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

Feb 7 (Reuters) - Delta Air Lines Inc (DAL.N) said on Tuesday that it would bump up the pay of its employees by 5%, amid an industrywide shortage of workers as airlines look to cash in on robust demand for air travel. Delta's raise includes a 5% base pay increase for ground and flight attendant employees worldwide at all steps of the pay scale and a 5% pool for eligible merit employees worldwide, the airline's chief executive Ed Bastian wrote in a memo to employees. The pay hike, which will be effective from April 1, comes at a time when airlines are coming up with attractive pay offers to retain workforce and add staff after a faster-than-expected rebound in the U.S. travel market. The carrier offered a 34% cumulative pay increase last month to its pilots over three years in a new contract after the Atlanta-based carrier's pilots voted overwhelmingly in October to authorize a strike. The latest hike includes all employees worldwide, except those covered by an industry or government requirement or collective bargaining agreement.

☆ Spirit Airlines beats estimates on strong travel demand
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

Feb 6 (Reuters) - Ultra low-cost carrier Spirit Airlines Inc (SAVE.N) posted better-than-expected quarterly results on Monday, fueled by strong demand for air travel despite ongoing economic concerns. Shares of Spirit rose over 7% to $21 in aftermarket trade. U.S. airlines have been trying to cash in on strong demand for air travel, undeterred by rising interest rates and a looming recession, as pandemic restrictions ease. Spirit earned $0.12 per share on an adjusted basis, above analyst estimates of $0.04 per share, according to Refinitiv data. The Miramar, Florida-based airline's total operating revenue in the quarter rose nearly 41% to $1.39 billion, compared with analysts' estimates of $1.38 billion.

☆ Messi to the rescue as PSG extend Ligue 1 lead
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +2 min

PARIS, Feb 4 (Reuters) - Lionel Messi scored in the second half to help Paris St Germain recover from a woeful start and extend their Ligue 1 lead to a provisional eight points with a 2-1 home victory on Saturday. Messi struck the winner after the break with his third goal in his last five league games to put PSG on 54 points from 22 games. Olympique de Marseille are second on 46 points before hosting Nice on Sunday with third-placed RC Lens travelling to Stade Brestois. Without Neymar and Kylian Mbappe, both injured, Messi was flanked by Hugo Ekitike in attack with Vitinha just behind. Rennes are left in fifth place on 40 points, with Lille in sixth, two points behind them.

☆ Airlines cancel over 1,400 U.S. flights as ice storm hits multiple states
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

Feb 1 (Reuters) - Airlines canceled over 1,400 flights in the United States on Wednesday, after an ice storm hit states from Texas to West Virginia. A total of 1,467 flights within, into or out of the United States were canceled, while 527 flights were delayed as of 6.48 a.m. The Federal Aviation Administration (FAA) on Tuesday warned in a tweet that travelers could expect to see some snowy conditions in certain areas including Dallas, Fort Worth and Memphis, which could delay certain flights. loadingAirlines canceled nearly 1,400 flights in the United States on Wednesday, after a severe winter storm hit their operations in certain regions. Low-cost carrier Southwest Airlines Co (LUV.N) led cancellations with 487 flights, while Fort Worth, Texas-based peer American Airlines Group Inc (AAL.O) closely followed, canceling nearly 480 flights.

☆ GM, Lithium Americas to develop Thacker Pass mine in Nevada
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

Jan 31 (Reuters) - General Motors Co (GM.N) and Lithium Americas Corp (LAC.TO) on Tuesday announced they would jointly invest to develop the Thacker Pass mine in Nevada. Under the agreement, GM will make an equity investment of $650 million in Lithium Americas. Lithium carbonate from Thacker Pass will be used in GM's proprietary Ultium battery cell. U.S.-listed shares of Lithium Americas rose over 9% in premarket trade. Production at Thacker Pass, which is expected to create 1,000 jobs in construction and 500 in operations, is projected to begin in the second half of 2026, the companies said in a statement.

[1/4] Ford Mustang Mach-E GT is seen during the Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. The move comes as electric vehicle manufacturers are feeling pressure from Tesla's price cut to respond. "Ford just cut Mustang EV prices in response to Tesla’s price cut. "Tesla’s price cut was a major blow to the prospects of competing EV models and the Mustang Mach-E directly competes with Tesla’s Model Y," said Garrett Nelson, an analyst at CFRA Research. Ford said existing Mustang Mach-E customers awaiting delivery of vehicles will automatically receive the price cut.

Jan 26 (Reuters) - U.S. defense contractor Northrop Grumman Corp (NOC.N) on Thursday forecast full-year sales above Wall Street estimates, as it benefits from strong demand for weapons from countries ramping up their defense spend. "We're raising our sales outlook for 2023 and expect to deliver strong multi-year cash flow growth," Northrop Grumman Chief Executive Kathy Warden said. Northrop, which produces the fuselage for the F/A-18 Super Hornet fighter jet, posted sales of about $10.03 billion for the quarter ended Dec. 31, ahead of analysts' average estimate of $9.66 billion. Sale in its defense unit, which makes integrated battle management systems, weapons systems, rose to $1.66 billion, from $1.38 billion. Overall adjusted net income stood at $7.50 per share, ahead of analysts' average estimate of $6.57 per share.

☆ A home flipper who helps sellers get up to 30% more for their properties shared 5 easy upgrades that help boost resale value — and 5 design choices that turn buyers off
▼ + stars: | 2023-01-26 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +7 min

Her company, Homegirl, advises clients on the interior design trends that boost resale value. She spoke with Insider about what trends buyers want right now that will help sellers get up to 30% more when listing their homes, and what styles are no longer in their favor. Minimalist art, right, is out of style. Unlacquered brass hardware, left, adds a sense of age to a room while black hardware, right, has fallen out of favor. Nadav Havakook/Homegirl, Wachirawut Priamphimai/EyeEm/Getty ImagesStatement-making, sculptural lights that double as art pieces are what buyers are looking for these days.

☆ General Dynamics forecasts weak 2023 as supply, labor challenges persist
▼ + stars: | 2023-01-25 | by ( Nathan Gomes | ) www.reuters.com time to read: +2 min

[1/2] A General Dynamics NASSCO ship yard entrance is shown in San Diego, California, U.S., June 17, 2019. REUTERS/Mike Blake/File PhotoJan 25 (Reuters) - U.S. defense contractor General Dynamics Corp (GD.N) on Wednesday forecast lower-than-expected 2023 results, as the industry struggles with labor and supply shortages, though strong demand for weapons helped it beat quarterly estimates. An "abnormally high retirement" of workers has impacted General Dynamics' electric boat unit, which assembles nuclear-powered submarines, company executives said on an investor call. General Dynamics said it was working with the U.S. Navy to mitigate the effect of worker shortages, which plagued the defense industry in 2022. "We're seeing demand signals resulting from the war in Ukraine, but we've only just begun to see that manifest in our backlog," General Dynamics Chief Executive Phebe Novakovic said.

☆ Union Pacific posts weak profit as storm delays shipments
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

Jan 24 (Reuters) - Union Pacific Corp (UNP.N) reported lower-than-expected fourth-quarter profit on Tuesday, hurt by delayed shipments amid labor shortages and a winter storm that crippled freight operations across the United States. Union Pacific, which connects 23 states in the western two-thirds of the country by rail, suffered shipment delays over the Christmas period as the winter storm Elliott hit its railroad networks. The storm brought sub-freezing temperatures and impacted business operations nationwide, also causing freeze-ins at several oil production sites. Union Pacific's operating ratio, a key profitability metric for railroads, was 61% in the quarter compared with 57.4% a year earlier. "Revenue growth was more than offset by elevated operating expenses from operational inefficiencies and a higher inflationary environment," Fritz said.

☆ Defense firms set to post higher sales, McCarthy's election clouds outlook
▼ + stars: | 2023-01-23 | by ( Nathan Gomes | ) www.reuters.com time to read: +3 min

** Raytheon is expected to post quarterly revenue of $18.15 billion and a profit of 92 cents a share. ** General Dynamics is estimated to report quarterly revenue of $10.69 billion and a profit of $3.55 per share. ** Northrop is expected to report quarterly revenue of $9.66 billion and a profit of $6.58 per share. Median 12-month price target is $495. Median 12-month price target is $566.

☆ Water tech firm Xylem to buy Evoqua in $6.42 bln deal in industrial market push
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +1 min

Jan 23 (Reuters) - Xylem Inc (XYL.N) said on Monday it would acquire Evoqua Water Technologies Corp (AQUA.N) in an all-stock deal valued at $6.42 billion, boosting its wastewater treatment solutions and providing it access to several industrial markets. Evoqua stockholders will receive 0.480 share of water technology company Xylem for each share held, representing a premium of about 29% based on the shares last close. Xylem, which manufactures equipment used in water and wastewater applications, in 2016 acquired Sensus USA Inc, a provider of advanced metering technologies to utilities. Pittsburgh, Pennsylvania-based Evoqua operates in more than 150 locations across nine countries and provides wastewater treatment solutions to industrial, municipal and recreational customers. After the deal closes, the combined company will be led by Xylem’s president and chief executive officer, Patrick Decker.

☆ Shell unit to acquire EV charging firm Volta for about $169 mln
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

Jan 18 (Reuters) - Volta Inc (VLTA.N) said on Wednesday that a Shell Plc (SHEL.L) subsidiary would take over the electric vehicle (EV) charging network operator in an all-cash deal valued at about $169 million. Shell USA Inc will acquire all outstanding shares of Class A common stock of Volta for 86 cents apiece in cash in a deal that is expected to close in the first half of the year, Volta said. Shell and other companies such as France's EDF (EDF.PA) and Norway's Statkraft [RIC:RIC:STATKF.UL] have been investing in EV charging infrastructure to cash in on the growing demand for EVs. As part of the deal, Shell USA will also provide loans to Volta to help the company through the closing of the deal. Goldman Sachs and Barclays Capital served as advisers to Volta, while Shearman & Sterling LLP served as its legal adviser.

Airfares from China are now 160% higher than before the pandemic, data from travel firm ForwardKeys shows, due to limited supply. Since Jan. 4, Air China (601111.SS), Hainan Airlines (600221.SS) and China Southern Airlines (600029.SS) have filed schedules with the U.S. Department of Transportation proposing to increase flights to as much as daily on some routes. Foreign carriers seeking to add flights to China require approvals from the Civil Aviation Administration of China, which did not respond to a request for comment. However, other flights were paused as it assessed market demand and government regulations. Many Western airlines parked large planes when international traffic plunged and production of new twin-aisle jets has been limited.

☆ Emerson makes $7.6 bln offer for NI Corp public after rebuffed approaches
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

Jan 17 (Reuters) - U.S. industrial and software firm Emerson Electric Co (EMR.N) on Tuesday made public its offer to buy NI Corp (NATI.O) in a deal with an enterprise value of $7.6 billion after the automated testing equipment maker rebuffed earlier approaches. The software firm's all-cash bid of $53 per share represents a premium of about 13% to NI's close on Friday. Shares of NI were up 13%, at the offer price, in trading before the bell, while Emerson fell 4%. Texas-based NI, formerly known as National Instruments, specializes in making automated testing and measurement tools to aid in research and validation of new technologies. Emerson said NI has not engaged 'meaningfully' since its bid of $53 per share was made privately in November.

☆ Carvana terminates more workers amid weak used car sales -WSJ
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

Jan 13 (Reuters) - Carvana Co (CVNA.N) is terminating more workers and take other measures such as reduced work hours as the used-car retailer contends with weak sales, the Wall Street Journal reported on Friday. Carvana, best known for its automated car vending machines, did not immediately respond to a Reuters' request for comment. The demand for used cars has fallen over the past year as consumers opt for alternative means to commute in an attempt to trim expenses. That slump in demand has also forced the Tempe Arizona-based company to sell many used cars at lower prices. (This story has been corrected to say company is terminating more workers, not laying off, in headline and paragraph 1)Reporting by Nathan Gomes in BengaluruOur Standards: The Thomson Reuters Trust Principles.

WASHINGTON/CHICAGO, Jan 12 (Reuters) - U.S. airline operations returned to normal on Thursday even as the Federal Aviation Administration (FAA) continues to investigate pinpoint the cause of a computer outage that grounded flights nationally and to prevent it from happening again. "FAA operations are back to normal, and we are seeing no unusual delays or cancellations this morning," the FAA said in a tweet. More than 11,300 flights were delayed or canceled on Wednesday in the first national grounding of domestic traffic in about two decades. As of noon Thursday, 1,400 U.S. flights were delayed and 117 were canceled, according to FlightAware, a typical aviation day given current weather issues. Major carriers Delta Air Lines (DAL.N), United Airlines (UAL.O), American Airlines Group Inc (AAL.O) and Southwest Airlines (LUV.N) all were reporting normal operations on Thursday.

☆ American Airlines forecasts higher fourth-quarter profit on strong demand
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

Jan 12 (Reuters) - American Airlines Group Inc (AAL.O) on Thursday forecast a higher fourth-quarter profit on strong demand for travel during the key holiday season, sending its shares up more than 3% in premarket trading. U.S. carriers have benefited from strong consumer demand during the holiday season. Airlines were also able to mitigate some of the higher fuel and labor costs through higher ticket prices. The carrier's update comes at a time when a worsening economic outlook coupled with high inflation has sparked concerns about consumer demand. American Airlines now expects revenue to rise between 16% and 17% from the fourth quarter of 2019.

FAA officials said a preliminary review traced the outage to a damaged database file, but added there was no evidence of a cyberattack and the investigation was continuing. FAA officials said they were working to "further pinpoint the causes" so the problem can be avoided in the future. One issue airlines are facing is trying to get planes in and out of crowded gates, which is causing further delays. He described confusion as airline employees and many passengers were initially unaware of the FAA's moves and flight delays. The U.S. Travel Association, which represents the travel industry including airlines, called the FAA system failure "catastrophic."

☆ Explainer: Why U.S. flights were grounded by a FAA system outage
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +4 min

Over 4,000 flights were delayed and more than 600 canceled because of the outage as of early Wednesday morning. The FAA system that is meant to distribute notices to pilots on hazards failed at about 2 a.m. Eastern Time, officials said. [1/3] Passengers wait for the resumption of flights at O'Hare International Airport after the Federal Aviation Administration (FAA) had ordered airlines to pause all domestic departures due to a system outage, in Chicago, Illinois, U.S., January 11, 2023. REUTERS/Jim Vondruska 1 2 3The NOTAMs sent by the U.S. Federal Aviation Administration are part of a global safety system managed through the United Nations' aviation agency. The incident, and the information overload that pilots complain the system encourages, prompted the effort to change the way the system operates.

☆ California storm forces thousands to flee homes and leaves 1 dead
▼ + stars: | 2023-01-10 | by ( Chantal Da Silva | Chantal Da Silva Is A Breaking News Editor For Nbc News Digital Based In London. | ) www.nbcnews.com time to read: +2 min

The heavy rains are expected to worsen ongoing flooding and prolong the risk of flash flooding and mudslides across the state. Firefighters block the CA 192 Foothill road while the Arroyo Paredon Creek overflows due to heavy rainfall in Carpinteria on Monday. Heavy rainfall in the area, which is home to 10,000 people, had already flooded roads and creeks, he said. The flooding came five years to the day after heavy rains hammered a Montecito “burn scar,” killing nearly two dozen people. The severe weather also forced the Santa Barbara Airport to close due to flooding, the airport announced in a tweet Monday.

☆ Global leaders condemn assault on Brazilian government buildings
▼ + stars: | 2023-01-08 | by ( ) www.reuters.com time to read: +7 min

Brazil's democratic institutions have our full support and the will of the Brazilian people must not be undermined. Using violence to attack democratic institutions is always unacceptable. BOLIVIAN PRESIDENT LUIS ARCE"We strongly condemn the assault on the Brazilian Congress, Palace and Supreme Court by anti-democratic groups. A return to normality is urgently needed and we express solidarity with Brazilian institutions. We categorically condemn the assault on the Brazilian Congress and make a call for the immediate return to democratic normality."

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