-
Passenger Transportation Services
European shares end four-week winning streak due to tech selling off, US-Iran War
European shares shook off a four-week streak of gains on Friday. The oil market was rattled by a 'unwinding in tech stocks' and the resurgence of tensions?in the Middle East. Investors lowered their hopes for a quick relief from the energy shock, and the?pan-European?STOXX600 fell 1.8% this week. Brent futures rose 5% this week after the U.S. and Iran exchanged strikes. Washington also reimposed sanctions against Iranian oil. The NATO summit in Turkey added a layer to the uncertainty, as U.S. president Donald Trump called Spain "a terrible partner" and threatened halting trade with that country. He later softened his
-
Passenger Transportation Services
Wall St flattens as SK Hynix debut's stellar performance limits losses in chip stock
Wall Street's major indexes fluctuated little in Friday's choppy trade, with the Nasdaq debut by SK Hynix of South Korea. This capped a week that saw chip stocks sway at the end. Artificial intelligence is back in the spotlight following SK Hynix's $170 opening price, which was 14% higher than its initial offering price. This high-profile U.S. listing brought artificial intelligence to the forefront. Memory-chip maker SK Hynix raised $26.5 billion by selling American depositary receipts at $149 per piece on Thursday. The stock is not advancing because this is not an IPO. This is a secondary offer of a
Passenger Transportation Services
Passenger Transportation Services
Wall St Futures Mixed ahead of SK Hynix Listing; Middle East in Focus
U.S. Stock Futures were mixed Friday, after a strong Wall Street rally. Investors awaited SK Hynix's highly anticipated Nasdaq debut and weighed the impact of recent Middle East conflict escalation. Chipmakers' gains fueled the main U.S. indices to close higher during the previous session. The S&P 500, Nasdaq, and Dow were all on track to gain weekly gains as of Thursday's closing. The AI trade was also back on the agenda ahead of SK Hynix listing in the U.S. on Friday. Memory-chip maker raised $26.5 billion by selling American?Depositary Receivables' priced at $149. This is the largest share offering in...
Passenger Transportation Services
Ryanair emergency landing in Greece due to a 'dislodged window'
Ryanair confirmed that one of its planes had to make an emergency landing in Greece shortly after take-off, due to a "dislodged" window. Two industry sources said a passenger may have been partially sucked from a window. The airline said that one person received medical assistance, but did give no further details. The plane was flying between Thessaloniki and Memmingen Airport in Germany. In a statement,?Ryanair stated that the 'aircraft landed normal and passengers returned to the terminal. Local media in Greece reported a broken piece of engine that caused a window to break, which led to a cabin decompressing...
Passenger Transportation Services
Delta forecast indicates that airline fares can increase despite lower fuel prices
Delta Air Lines reaffirmed ?its full-year profit forecast and provided a stronger-than-expected third-quarter outlook on Friday, signaling confidence that recent fare gains can hold even ?as fuel prices ease from this year's highs. The first major U.S. airline to report its results,?the?outlook?, offers a?early read on whether airlines will be able to maintain fare increases that were pushed through in the spring fuel crisis as costs decrease. Delta Chief financial officer Erik Snell stated that the carrier recovered approximately 60% of the fuel price increase in the second quarterly, faster than they have historically done, and expects to recover even...
Passenger Transportation Services
Delta's outlook indicates that fuel prices can still be lowered and airline fares will continue to rise.
Delta Air Lines reaffirmed its full-year profit forecast ?and gave a stronger-than-expected third-quarter outlook on Friday, signaling confidence that recent fare gains can hold even as fuel prices ease ?from this year's highs. The outlook of the first major U.S. airline to report results provides an early "read" on whether airlines will be able to maintain the fare increases that were pushed during the spring fuel crisis as costs decrease. Delta Chief financial officer Erik Snell stated that the carrier recovered approximately 60% of the fuel price increase in the second quarterly, faster than they have historically done, and expects...
Passenger Transportation Services
Investors are focusing on Middle East and SK Hynix listings as they look at the S&P 500 and Nasdaq Futures.
S&P 500 futures and Nasdaq Futures slowed on Friday as investors weighed Middle East tensions, and awaited SK Hynix's highly anticipated Nasdaq debut. Chipmakers' gains fueled the main U.S. indices to close higher during the previous session. The S&P 500, Nasdaq, and Dow were all on track to gain weekly gains as of Thursday's closing. The AI trade was also back on the agenda ahead of SK Hynix listing in the U.S. on Friday. Memory-chip maker, Micron, priced its American depositary Receipts (ADRs) at $149 per share on Thursday. The company raised about $26.5 billion. This offering will be the...
Passenger Transportation Services
Apollo wins easyJet bid of $7.65 billion over Castlelake
EasyJet, the British budget airline, said that it had agreed to a takeover offer of PS5.7 billion ($7.65billion) from Apollo Global. This was a higher bid than a rival suitor Castlelake. Apollo's offer of around PS7.15 per easyJet shares is approximately 3.6% higher than Castlelake’s latest bid. This could be the beginning of a battle to takeover?the London listed carrier. EasyJet's board announced that it would no longer recommend Castlelake’s proposal of PS6.90 a share, which the two parties had agreed on in principle just days earlier. EasyJet and Apollo stated in a joint press release that the cash offer...
Passenger Transportation Services
Wally Funk, pioneering astronaut and aviator trainee, has died at the age of 87
Wally Funk has died in Texas, aged 87. He was the pioneering aviator and astronaut who, at the dawning of the Space Age with 12 American women, became the oldest person ever to fly into space. According to the statement, Funk died the night before at her home in Grapevine, Texas. The cause of death wasn't given. Funk, who had been barred from NASA’s early astronaut corps due to her gender, made headlines when she joined Jeff Bezos, the billionaire founder of Amazon.com, as his honorary guest, along with two other guests, on the inaugural spaceflight Blue Origin's New Shepard...
Passenger Transportation Services
US concludes probe of imported aircraft and parts without seeking new tariffs
The U.S. Department of Commerce announced on Thursday that it had conducted a 'probe' into imported commercial aircraft and jet engines, and found foreign goods raised U.S. national security concerns. However, the Trump administration does not seek new tariffs. After a brief tariff on aviation in 2017, the Trump administration agreed, under heavy lobbying from the U.S. Aviation sector, to exempt aircraft and parts as part of trade agreements. The report, which is based on a probe that was opened last year found that the U.S. aviation industry "is too dependent on foreign supply chains raising national security concerns" and...
Passenger Transportation Services
Source: Air India chairman to oversee firm with interim panels; CEO search continues
According to a source with direct knowledge of the matter, Air India Chairman N. Chandrasekaran will set up an interim committee, which includes himself, to oversee the airline while it searches for a replacement for CEO Campbell Wilson. Former top civil aviation ministry officials Pradeep Singh Kharola and Ajay Kumar will be included in the committee. According to the source, one of the goals of this panel is to maintain continuity at Air India during Chandrasekaran’s tenure as chairman Tata Sons, which is still pending. Tata Sons, the Tata Group's?principal holding firm, controls Air India, with 75% of the shares,...
Passenger Transportation Services
Wall Street Journal, July 9,
These are the most popular?stories from the Wall Street Journal. These?stories have not been?verified' and we cannot?guarantee? their?accuracy. Jeff Bezos’ Blue Origin wants to bring in outside investors for first time. The company is aiming to raise 10 billion dollars through a funding round, which would value the rocket manufacturer at $130 billion before the investment. China has said that it found "security vulnerabilities" in Anthropic’s Claude Code. This is a step up in tensions with the U.S. in the race for artificial intelligence supremacy. Apple plans to spend more than $30 billion in a deal with Broadcom, which was...
Passenger Transportation Services
S&P 500 closes down after Trump declares Iran deal 'over
Broadcom led the gains amongst recently battered chips stocks. Trump warned, 'at the NATO summit in Turkey that he has no interest in continuing talks with Iran. He will likely launch additional strikes in Washington on Wednesday night. Trump's remarks marked the latest setback of the back-and forth talks, which have oscillated between threats of escalation or hopes for diplomacy. Investors were caught off guard by several false begins toward a peace agreement. Duration is key. How long will this continue? Rob Haworth is a senior investment strategist with U.S. Bank Wealth Management, Seattle. The market could be forced to...
Passenger Transportation Services
S&P 500 drops after Trump declares Iran deal is over
Broadcom, a chip stock that has been battered recently, led the gains amongst recent battered stocks. The S&P?500 dropped on Wednesday as U.S. president Donald Trump declared an interim agreement aimed at ending?the war?with Iran to be "over." Trump, speaking at the NATO summit in?Turkey said that he was not interested in continuing talks with Iran. He also warned that Washington will likely conduct additional strikes on Wednesday evening. Trump's remarks marked the latest setback of the series of back and forth talks which have oscillated between threats of escalation, and hopes for diplomacy. Investors were left unprepared by several...
Ground Transportation
Amtrak, the US passenger rail company, sets a record for ridership and cuts losses
Amtrak, the U.S. passenger rail company, said Tuesday that it had set records for revenue and ridership in a single year. It also cut its losses by 15 percent to $598 millions and is aiming for profitability by 2028. Amtrak is a major effort in rehabilitating the infrastructure of the Northeast corridor between Boston, Massachusetts and Washington. It is expanding service throughout the United States by purchasing new Acela trains with higher speeds and replacing regional trains from next year. Amtrak reported that in the twelve months ending September 30, it had 34,5 million trips made by customers, an increase...
Whaleboat sinks into river in Congo, killing at least 107 people
According to a government internal report viewed by us on Friday, at least 107 people died when a whaleboat caught blaze in the west of Democratic Republic of Congo. In a memo, the Ministry of Social Affairs stated that 146 people were missing after the boat, which was a narrow double-ended open vessel, caught fire near Malange Village in Lukolela Territory on Thursday night. The note stated that rescue teams recovered 209 survivors after the vessel burnt and drifted downriver. The fire destroyed the cargo and 15 riverside houses. The search operations continued Friday, with community volunteers and naval personnel...
As inventories shrink, premiums for copper contracts on the nearby LME soar.
The premiums for copper contracts near London Metal Exchange have increased to their highest level since October 2022 due to low inventories, large cash contracts and warrants held by traders. The title document that confers ownership on metal is a warrant. Tom-next, also known as the premium or backwardation that is charged for purchasing copper tomorrow and then selling it the next day, is currently trading at above The price of a metric tonne is $48. This compares to a $2 discount at the beginning of the week. The premium for the cash Copper Contract over the Three-Month Forward It...