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☆ Ford reports smaller drop in 2022 U.S. sales as inventory levels improve
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +1 min

The company sold 1,864,464 vehicles in 2022, down about 2.2%. General Motors Co (GM.N) on Wednesday reclaimed the top spot in U.S. auto sales from Toyota Motor Corp (7203.T) aided by higher inventory levels. Ford said on Thursday it sold 15,617 units of its popular F-150 Lightning electric truck in 2022 after they went on sale earlier in the year. Sales of Ford's SUVs, including models such as the Explorer and Bronco, rose nearly 5% in 2022. Truck sales fell 5.5% in the year, compared with a near 8.0% drop in 2021.

☆ Former teacher who wore MAGA hat to school was protected by First Amendment, court rules
▼ + stars: | 2023-01-04 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

VANCOUVER, Wash. — The 9th Circuit Court of Appeals has ruled in favor of a former teacher in Vancouver, Washington, concluding that his wearing a hat supporting former President Donald Trump to school was protected speech under the First Amendment. Court documents show that science teacher Eric Dodge brought the “Make America Great Again” baseball cap with him to an Evergreen Public Schools building twice before the 2019-2020 school year. Wy’east Middle School Principal Caroline Garret allegedly told him to use better judgment. Dodge said he was “verbally attacked” by Garret and other school employees after bringing the hat again, and that retaliation amounted to a violation of his First Amendment rights. Michael McFarland, a lawyer representing the school district and Gomes, said his clients are happy with the ruling.

☆ U.S. auto sales to fall in 2022, GM set to reclaim top spot from Toyota
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +2 min

Full-year U.S. auto sales are forecast to be about 13.9 million units, down 8% from 2021 and 20% from the peak in 2016, according to industry consultant Cox Automotive. Inventory shortages, caused by surging material costs and persistent chip shortage, spilled into 2022, hobbling production at many automakers. Reuters GraphicsGM's 2022 U.S. sales are set to rise 2.3%, while Toyota's is expected to fall 9%, according to Cox Automotive. Both automakers are set to report sales figures on Wednesday. Some industry observers fret that price hikes by automakers to blunt inflationary pressures and rising interest rates will take a toll on new vehicle sales in the new year.

☆ Defense firm L3Harris to buy Aerojet for $4.7 billion with eye on missile demand
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: 1 min

Dec 18 (Reuters) - U.S. defense contractor L3Harris Technologies Inc (LHX.N) said on Sunday it would buy Aerojet Rocketdyne Holdings Inc (AJRD.N) for $4.7 billion in an all-cash transaction, as it looks to tap into rising demand for missiles amid the Ukraine conflict. Reporting by Nathan Gomes and Kanjyik Ghosh in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Defense firm L3Harris to buy Aerojet for $4.7 bln with eye on missile demand
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +2 min

Dec 18 (Reuters) - U.S. defense contractor L3Harris Technologies Inc (LHX.N) said on Sunday it would buy Aerojet Rocketdyne Holdings Inc (AJRD.N) in a $4.7 billion all-cash transaction, as it looks to tap into rising demand for missiles amid the Ukraine conflict. Reuetrs had first reported on Saturday that L3Harris was nearing the deal to acquire U.S. rocket maker Aerojet. The deal, which is expected to be completed in 2023, would add on to L3Harris' Space & Airborne Systems unit, which makes electronic warfare equipment and avionics sensors. Aerojet develops and manufactures liquid and solid rocket propulsion and hypersonic engines for space, defense, civil and commercial applications. Aerojet makes the RS-25 engines for NASA's launch vehicle, as well as the RL10 engines that power launch vehicles made by United Launch Alliance, a joint venture between Boeing Co (BA.N) and Lockheed Martin.

☆ Luxury homebuyers want plunge pools, infrared saunas, and 'spiritual concierges,' according to two star brokers who've sold $4 billion of real estate so far this year
▼ + stars: | 2022-12-19 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +6 min

Real-estate agents Fredrik Eklund and John Gomes said luxury homebuyers want wellness perks at home. More than gyms and swimming pools, they're seeking out extras like infrared saunas and plunge pools. On-demand perks like "spiritual concierges" and IV treatments are becoming more popular. Speaking about the year ahead alongside Eklund Gomes Team CEO Julia Spillman, they said wellness perks remain at the top of the list of must-haves for luxury homebuyers of both condos and single-family residences. The Eklund Gomes Team has big plans for the year aheadThe Eklund Gomes Team plans to grow, even as the real-estate market at large is slowing down.

☆ Ford hikes price of cheapest F-150 electric truck variant to nearly $56,000
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

Dec 15 (Reuters) - Ford Motor Co (F.N) has raised the price of the cheapest variant of its F-150 Lightning electric truck by 9% to $55,974, the company's website showed on Thursday. The automaker has raised prices for its electric pickup trucks twice in a span of three months, as it navigates higher costs and supply chain snags. It was, however, not immediately clear when the price hike occurred. The move comes on the heels of the automaker adding a third work crew at an assembly plant near Detroit as it boosts production of its F-150 trucks. Reporting by Nathan Gomes in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ China domestic searches for hotels surge after easing restrictions - KAYAK
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +1 min

Dec 12 (Reuters) - Travel website KAYAK, owned by Booking Holdings Inc (BKNG.O), said domestic searches for hotels within China surged last week, after the country loosened its COVID-19-related restrictions. KAYAK on Friday said searches for hotels jumped more than 100% over the past two days compared to last year and over 50% compared to 2019, in a market where travel companies have struggled with Beijing's zero-COVID policy. "I anticipate the world's second biggest travel market will fully reopen soon after almost three years," said KAYAK Chief Executive Steve Hafner in a statement. Searches on other travel platforms such as Trip.com also surged last week as the public cheered China's easing travel curbs. Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Manchester United raises 2023 revenue outlook
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: 1 min

Dec 8 (Reuters) - Manchester United on Thursday raised its 2023 total revenue guidance on the back of strong matchday revenue. The soccer club said it expects total revenue in the range of 590 million to 610 million pounds in 2023, up from its prior range of 580 million to 600 million pounds. However, the company posted a bigger first-quarter net loss, hurt by the postponement of two Premier League games due to the death of Queen Elizabeth, as well as the timing of the 2022 FIFA World Cup. The company's net loss for the three months ended Sept. 30 came in at 26.5 million pounds ($32.43 million), compared with a loss of 15.5 million pounds a year earlier. ($1 = 0.8172 pounds)Reporting by Nathan Gomes in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Chief Executive Officer Bob Jordan said the reinstatement reflects "the strong return in demand for air travel" as well as Southwest's "solid" operating and financial performance since March. While mounting economic worries have clouded the outlook for consumer spending, the Dallas-based carrier said it has seen no signs of a slowdown in travel demand. It expects strong leisure revenue trends to continue into the first quarter of next year. Southwest will pay a quarterly dividend of 18 cents per share to shareholders on Jan. 31. "With more than two-thirds of its labor contracts still open,...reinstating dividends just illustrates how far Southwest has veered from its path," said Southwest Airlines Pilots Association President Casey Murray.

☆ Pentagon awards $9 bln cloud contracts each to Google, Amazon, Oracle and Microsoft
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Dec 7 (Reuters) - The Pentagon on Wednesday awarded cloud computing contracts worth $9 billion each to Alphabet Inc's Google (GOOGL.O), Amazon Web Services Inc (AMZN.O), Microsoft Corp (MSFT.O) and Oracle Corp (ORCL.N). The contracts which run until 2028, will provide the Department of Defense with enterprise-wide, globally available cloud services across all security domains and classification levels. The move comes months after the Pentagon had delayed its decision to award an enterprise-wide Joint Warfighting Cloud Capability (JWCC) contract earlier this year. The deal puts the military more in line with private-sector companies, many of whom split up their cloud computing work among multiple vendors to avoid being locked in to any specific one. Reporting by Nathan Gomes in Bengaluru; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ JetBlue aims to significantly reduce jet fuel emissions by 2035
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

Dec 6 (Reuters) - JetBlue Airways Corp (JBLU.O) said on Tuesday it was committed to reducing emissions related to jet fuel by 50% per revenue tonne kilometer by 2035 from 2019 levels. The New York-based carrier, whose targets align with goals of the Paris climate agreement, said it would increase investments in lower-carbon solutions within its operation and would evaluate future sustainability investments with its science-based target in mind. "We are calling on governments, aircraft and engine manufacturers, and fuel producers to support the development of the products and solutions that airlines need to achieve our ambitious goals," JetBlue Chief Executive Robin Hayes said in a statement. The carrier also added that it would accelerate the retirement of its E190 fleet, with the final E190 aircraft scheduled to exit its fleet in 2025. Reporting by Nathan Gomes in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ United Airlines nears deal for dozens of Boeing 787 Dreamliners - WSJ
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

Dec 2 (Reuters) - United Airlines Inc (UAL.O) is close to reaching a deal with Boeing (BA.N) to order dozens of the planemaker's 787 Dreamliner jets, the Wall Street Journal reported on Friday, citing people familiar with the matter. The potential order comes at a time when the industry struggles with adverse weather conditions, worker shortages and strikes over the past year, which has impacted operations. Demand for widebody jets is also returning after years of a market glut, a boost especially for Boeing, which is in the midst of a recovery from successive crises. A deal between United and Boeing could be completed as soon as this month, the report said. Reporting by Nathan Gomes in Bengaluru, Rajesh Kumar Singh in Chicago; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Tesla plans to ramp up Model Y production from Giga Texas in 2023 - Electrek
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: 1 min

Nov 30 (Reuters) - Tesla Inc (TSLA.O) is planning to ramp up production of its Model Y cars from Gigafactory Texas next year, Electrek reported on Wednesday. The electric-vehicle manufacturer is currently preparing to roll out 75,000 Model Y vehicles from Gigafactory Texas in the first quarter of 2023, according to the report. Tesla did not immediately respond to a Reuters request for comment. Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Chicken prices are finally starting to fall
▼ + stars: | 2022-11-23 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

New York CNN Business —Over the past year, as some meat prices have fallen, chicken prices have remained stubbornly high. In the year through October, not adjusting for seasonal swings, chicken prices had jumped 14.5%, according to data from the Bureau of Labor Statistics. Chicken prices are finally falling. Why chicken prices were highBut the roosters don’t bear all the blame. Still, a decline in wholesale prices eventually leads to a decline in retail prices, which is starting to happen.

☆ U.S. business equipment borrowings grew 6% in October- ELFA
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

Nov 21 (Reuters) - U.S. companies borrowed 6% more in October to finance equipment investments compared with a year earlier, industry body Equipment Leasing and Finance Association (ELFA) said on Monday. The companies signed up for $11.3 billion in new loans, leases and lines of credit last month, compared with $10.7 billion a year earlier, according to ELFA. ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals totaled 77%, marginally down from 77.3% in September. The Washington-based body'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 November stood at 43.7%, down from 45% in October.

☆ Brazil's Embraer narrows Q3 net loss, sees deliveries at lower end of outlook
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Nov 14 (Reuters) - Brazilian planemaker Embraer SA (EMBR3.SA) on Monday reported a narrower third quarter net loss and boosted its free cash flow outlook for the full year, but acknowledged that annual deliveries were likely to stay at the lower end of its forecast. Embraer posted a quarterly adjusted net loss of 93.8 million reais ($17.62 million), narrower than the 179.7 million-real loss a year ago despite net revenue dropping 3% to 4.87 billion reais. The company increased its free cash flow outlook for the full year to $150 million or more from a previous estimate of $50 million or more, saying results so far have outperformed initial expectations. Santander analysts said the results missed their projections, but the reaffirmed delivery outlook was positive given the risks from supply chain issues. ($1 = 5.3250 reais)Reporting by Gabriel Araujo; Editing by Steven Grattan, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ United Rentals to acquire Ahern Rentals for $2 billion
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

Nov 14 (Reuters) - United Rentals Inc (URI.N) said on Monday it will acquire the assets of smaller rival Ahern Rentals Inc in an all-cash deal for about $2 billion, as the equipment rental firm looks to expand its U.S. presence. Ahern was founded in 1953 and is a family-owned equipment rental firm with about 2,100 employees. It operates across 106 locations in 30 U.S. states, with a rental fleet that consists of aerial lifts. Sullivan & Cromwell LLP acted as legal advisor to United. Reporting by Nathan Gomes and Priyamvada C in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Meet the members of Elon Musk's inner circle said to be helping him fix Twitter
▼ + stars: | 2022-11-12 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

Picked from Musk's inner circle of allies, friends, and ex-colleagues, these are the people reportedly helping him fix Twitter. Three days after Musk's acquisition, Krishnan tweeted that he was temporarily "helping out" Musk after the takeover. Sources told Insider he was listed on Twitter's company directory as a staff software engineer and was assigned a company email address. Bloomberg reported that Birchall played a key part in securing the financing for Musk's Twitter purchase. Over the past week, Musk's right-hand man has also been among the team strategizing inside Twitter, per The Washington Post.

☆ U.S. airlines cancel 1,220 flights as tropical storm Nicole makes landfall in Florida
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

Nov 10 (Reuters) - Airlines in the United States canceled 1,220 flights on early Thursday as tropical storm Nicole made landfall in the east coast of Florida, disrupting flight schedules and forcing airports in the region to shut. Delta Air Lines (DAL.N), American Airlines Group (AAL.O) and Southwest Airlines (LUV.N) canceled more than 100 flights each, while United Airlines (UAL.O) called off 73 trips, according to flight-tracking website Flightaware.com. Nearly 990 flights were canceled on Wednesday. The Federal Aviation Administration had earlier this week warned travelers that it expected the tropical storm to strengthen and impact travel in Florida and along the southeast coast. Airports within the affected region including Orlando International, Daytona Beach International and Palm Beach International ceased operations, while Jacksonville International Airport remained open.

☆ Brazil's Embraer delivers 33 jets in Q3, reaffirms full-year forecast
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Nov 7 (Reuters) - Brazilian planemaker Embraer SA (EMBR3.SA) on Monday said it has delivered a total 33 jets in the third quarter, up from 30 in the year-ago period, and reaffirmed its full-year forecast even with supply chain constraints hitting the industry recently. Embraer said that quarterly deliveries included 10 commercial aircraft and 23 executive jets, up from nine and 21 respectively in the same period of 2021. The latest backlog data included a firm order for six E195-E2 jets signed with Oman's low-cost carrier SalamAir in October. Embraer had also agreed on a deal with Canada's Porter Airlines for 20 aircraft earlier this year. The Brazilian company reaffirmed its full-year deliveries forecast set at 100 to 110 executive jets and 60 to 70 commercial jets.

☆ Alves makes Brazil World Cup squad, Firmino left out
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +3 min

Nov 7 (Reuters) - Brazil have included 39-year-old defender Daniel Alves but left out Liverpool forward Roberto Firmino in their 26-man World Cup squad which was named by coach Tite on Monday. After leaving Barcelona at the end of last season, Alves went to Mexico to try to keep his dream of playing in his fourth World Cup with five-times champions Brazil. Alves has been working on his recovery with the Barcelona academy medical and technical staff over the last few weeks. According to Tite, Alves' long history with Brazil and leadership qualities in the changing room were valuable but not the main reason he got a spot in the squad. The squad and Tite will gather on Nov. 14 at Juventus' training facilities in Turin, where Brazil will hold a five-day training camp before flying to Doha on Nov. 19.

☆ Boeing subsidiary Jeppesen's services impacted by cyber incident
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +1 min

Nov 4 (Reuters) - Boeing Co (BA.N) said on Friday its subsidiary Jeppesen was impacted by a cyber incident which affected certain flight planning products and services. Jeppesen, which provides analytical services to air carriers, said on its website it was experiencing technical issues with some products, services and communication channels and was working to restore functionality as soon as possible. "There has been some flight planning disruption, but at this time we have no reason to believe that this incident poses a threat to aircraft or flight safety," Boeing said in an email statement. The news comes after Boeing shared plans at an investor meeting in Seattle on Wednesday to accelerate its turnaround with a ramp-up in jet deliveries and higher free cash flow. Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Oct 31 (Reuters) - Emerson Electric Co (EMR.N) will sell a majority stake in its climate technologies unit to Blackstone Inc (BX.N) in a deal that values the business at $14 billion, as the U.S. industrial firm pivots to supplying to a booming automation market. Emerson's shares edged up 1% in a weak broader market as the company also beat fourth-quarter earnings and revenue. The Climate Technologies business, which will be structured as a joint venture, generated net sales of $5 billion in fiscal 2022. Emerson said it plans to use proceeds from the deal to invest in automation-related businesses and spend around $2 billion on share repurchases in 2023. Centerview Partners LLC and Goldman Sachs are financial advisers to Emerson, while Barclays is the lead financial adviser to Blackstone.

☆ Blackstone to buy majority stake in Emerson's climate tech unit in $14 bln deal
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

Oct 31 (Reuters) - Emerson Electric Co (EMR.N) will sell a majority stake in its climate technologies unit to Blackstone Inc (BX.N) in a deal that values it at $14 billion, the latest revamp by the U.S. industrial firm as it focuses on the booming automation market. Emerson's shares rose about 3.8% before the bell as the company also beat fourth-quarter earnings and revenue. Emerson, which will retain about 45% stake in the climate tech unit, said Blackstone and co-investors Abu Dhabi Investment Authority and GIC, would contribute $4.4 billion in equity toward the deal, which would be supplemented by $5.5 billion of debt financing. read moreThe Climate Technologies business, which will be structured as a joint venture, generated net sales of $5 billion in fiscal 2022. The unit includes its Copeland compressor business and products and services across residential and commercial heating and cooling.

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