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GE Aerospace uses robots and a 'Lean" approach to solve jet engine repair problems
Suresh Sinaiyan, a GE Aerospace technician, has spent more than a decade repairing compressor blades on jet engines by guiding them with precision across a sanding band. At the 'new automation lab' of the aerospace giant in Singapore, he teaches a robot the same task. The switch is a part of GE’s efforts to prepare for the next wave of industrial development, and to ease aviation's most pressing bottleneck: overloaded repair shops and scarce spare parts. The unexpected wear and tear of the latest generation 'jet engines' across the industry has caused many jets to be idled and led airlines keep older jets in flight longer. Maintenance lines have stretched into months while engines wait in repair queues. This pressure has now become a public battle. The airlines have complained about engine makers raising prices to take advantage of shortages, while the manufacturers claim they are investing money in expanding support because they have borne huge development costs. Tony Fernandes is the co-founder and CEO of Malaysian low cost airline AirAsia. He said it bluntly: "They must remember that airlines are their future, so treat us as partners." SINGAPORE as the Pressure Valve GE claims that Singapore is a critical part of its solution. The 2,000-employee GE repair?hub will be upgraded with digital tools, AI and more automation as part of a $300 million investment plan. The company wants to increase repair volume by 33% in Singapore without increasing the footprint of?the site -- by reorganising, reshaping and automating tasks when it's efficient. The factory is leading the way in GE's "Flight Deck" recipe for continuous improvement, eliminating waste and reducing costs. This was pioneered by Japanese automakers - and championed Larry Culp. It's not just about sprinting to the end of a quarter in order to produce a Wall Street Guide. Culp said in an interview that it is about making every minute and day count. GE, along with rivals like Pratt & Whitney, have been balancing the need to keep existing aircraft flying while supplying new assembly lines with parts and engines. By repairing more worn parts, you can reduce the pressure on your engine by reducing the need for new components. GE claims that repairs can halve both the time?needed to complete key processes and the cost for airlines. Faster turns, tighter floor space Iain Rodger of GE Aerospace Component Repair Singapore told me during a tour that "repair can improve turnaround times... the shorter the time the engine has to be off the wing the better." A reorganised area for repair is overhauling CFM56 turbo nozzles that have been scorched by extreme heat in one of the most popular engines on earth. Workers claim that turnaround times have improved since 2021 when they were 40 days. GE targets 21 days by the year 2028. The area will lose about a third its floor space in order to be ready for the next challenge, which is to develop repair capabilities for newer LEAP engine models that are entering?overhaul cycle. If the airline does not approve repairs, it may be forced to replace worn out parts with newer, more expensive, and limited-supply replacements. Han Hui Min, Nozzles' Business Leader, said of the new layout: "Now we can identify issues and see where they are." TEACHING ROBOTS the HUMAN TOUCH Repairs that require a technician’s touch are among the most difficult to automate. Take these compressor blades out of a CFM56 motor. The spinning blades create a?pressure' as air rushes in to the core of the motor. After years of use, the blade?tips will deform. This must be repaired by a process known as blending. It's really difficult to do. Sinnaiyan said that (until now) the process was 100% manual. The blades must be filed down to a few thousandths, using eye, feel and coordination. GE is betting that if they can capture this skill and turn it into a robotic process that can be repeated, then it will reduce the need for specialised workers while increasing throughput - at a lower cost. Analysts have noted that engine manufacturers make some of their largest profits by servicing used parts, and licensing certain repairs to shops in exchange for lucrative royalties. The process of each repair is the secret sauce to an increasingly important part?of business. Scaling repairs have limits. The work must adhere to approved procedures and strict standards of quality. Nick Cunningham, an analyst at Agency Partners, said that the slowdown in plane production - which increased demand for older jets and subsequently for repairs – is nearing its end. If GE's Singapore changes are successful, they can help the industry overcome its bottlenecks. They could also ease fares. Airlines executives and others have warned that the supply crunch is not likely to disappear quickly. Culp explained that the goal was to move away from heroic firefighting and towards a more preferred type of performance. Reporting by Tim Hepher and Rajesh K Singh in Singapore; Editing and production by Joe Brock, Matthew Lewis
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After court order, New York tunnel project is expecting to receive frozen US funds
After a U.S. court of appeals refused to overturn a lower court's order, the commission in charge of the $16 billion Hudson Tunnel Project in New York said it would soon receive $205 million in federal funding that had been frozen. Last week, the funding freeze caused construction to be halted and 1,000 workers were out of work. U.S. district judge Jeannette Vargas issued a preliminary order last week that ordered the federal government release funds to a project that would overhaul critical rail infrastructures in New York and New Jersey, which had been frozen since October 1 by President Donald Trump. The Second Circuit U.S. Court of Appeals announced?on Friday that it would refer the matter to a panel of judge later this month. However, the court did not issue the order requested by the government to block Vargas' decision from taking effect. Letitia James, New York Attorney general, said that the Trump administration should immediately release funds for the project. James said that the administration "never had the power to freeze these funds, and now it has no excuse for delay" after the lower court's order was upheld. The U.S. Transportation Department didn't immediately respond to an inquiry for comment. The department had warned earlier that it would release funds if there was no court order to stop Vargas' decision. The White House directed questions to the Justice Department which didn't immediately respond. The Gateway Development Commission (which is responsible for the management and construction of the Hudson Tunnel Project) said that "while it is a good step, moving forward we need consistent access to federal funding." Gateway said that it worked with contractors to "plan how to deploy these funding in the most efficient way" and to get workers to the construction sites as quickly as possible. Trump promised to 'unfreeze funds,' according to a source, in exchange for Democrats supporting his request to rename Washington Dulles Airport, and New York Penn Station, after him. Democrats strongly criticised the offer. The Hudson Tunnel Project is a plan to build a new commuter tunnel between Manhattan and New Jersey and to repair an old tunnel that's used daily by over 200,000 people and 425 trains. Vargas' ruling came hours after New York &?New Jersey announced that construction would cease due to a lack of funding. The Hudson Tunnel, which was heavily damaged by Hurricane Sandy in 2012, requires frequent emergency repairs, which disrupt travel along the country's busiest passenger rail line. Former President Joe Biden allocated $15 billion to the project. So far, nearly $2 billion has already been spent. Reporting by David Shepardson, Editing by Chris Reese & Jamie Freed
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Air Canada's core profit for 2026 is slightly higher than expected due to international demand
Air Canada's forecast for 2026 core profits was marginally higher than Wall -Street expectations on Thursday. The company attributed this to a strong demand on international routes outside of the U.S., and an increase in premium travel. International travel remains a relative bright light, even as domestic demand is showing signs of slowing down. This has cushioned carriers with large overseas networks. The Canadian carrier has been able to offset the softness on U.S. Canada routes with strong long-haul bookings, and a resilient demand for premium cabins. Analysts expect the Canadian flag carrier to achieve adjusted earnings before taxes, interest, depreciation, and amortization of C$3,35 billion ($2,46 billion),?to C$3,75 billion annually, as opposed to an average expectation of C$3.5billion. The airline anticipates that its?seat mile capacity, which is a key measure for passenger capacity, will rise between 3.5% to 5.5% by 2026. The company noted that it had a strong booking momentum for 2026, as well as opportunities from future fleet investments. Analysts at TD Cowen stated that "Inflation due to its labor agreements and delayed aircraft deliveries" will put pressure on CASMex (cost-per-available seat mile excluding the cost of fuel) by 2026. Air Canada announced plans last month to expand its winter schedule in Europe and Latin America, as the demand for these regions remains strong, despite some parts of North America losing momentum. As part of the fleet renewal, earlier this week it ordered eight widebody 'Airbus A350-1000' jets with an option for eight more. The aim was to improve its long-haul offering and fuel efficiency. The Canadian carrier reported net?income for the fourth quarter of C$296million, or C$1per share. This compares to a loss in the previous year of C$644million, or C$1.81per share. Air Canada reported total operating revenue of C$5.77billion, up from C$5.40billion a year ago. (1 Canadian dollar = 1.3616 dollars) (Reporting and editing by Sriraj Kalluvila, Krishna Chandra Eluri and Shivansh Tiwary in Bengaluru)
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As AI concerns weigh, trucking stocks fall.
Stocks in trucking and logistic companies fell on Thursday, as investors feared that AI technology would increase competition for firms that rely on software. Landstar System, C.H. Robinson fell by more than 14 percent, while Dow Jones Transportation Average dropped 4%. Investors are concerned that the steep fall in logistics shares follows a recent drop in software stocks. They fear future AI products will cause fierce competition among established businesses, eroding their profit margins. These fears contrast with the optimism that has driven Wall Street to record-breaking highs over the past few years. Jeffrey Favuzza, a trader at Jefferies, wrote in a note to clients on Thursday that the underlying theme for not only Tech but also for all corners of the market is a shoot first ask questions later approach for any market area with an AI headline. Algorhythm Holdings, a logistics company focused on AI, said that its SemiCab division increased customers' freight volume by?300%-400% without a corresponding rise in operational staff. Algorhythm Holdings' stock soared by about 30%, boosting its stock market value to $6 million. Algorhythm sold karaoke machines before. Algorhythm Holdings changed its name from The Singing Machine Company to Algorhythm Holdings in August after selling the business to Stingray Music. Last week, global markets were shook by the launch of 'plug-ins' for Claude Cowork agent by?AI developer Anthropic. This rekindled fears that AI systems are rapidly evolving and could threaten traditional software companies. Reporting by Lance Tupper, New York; and Noel Randewich, San Francisco.
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Airbnb forecasts revenue above estimates on premium rentals demand
Airbnb's first-quarter revenue forecast was higher than Wall Street's estimates on Thursday as the vacation rental company rely on premium bookings to offset a drop in demand from cost-conscious consumers. In volatile trading after the market, shares of 'the travel company' rose?about 5 percent. LSEG data shows that the company's revenue for the third quarter is expected to be between $2.59 and $2.63 Billion, compared to an average analyst estimate of $2.53 Billion. Marriott, United Airlines, and other travel companies have observed that higher-end customers are boosting results, while lower-end customers struggle with inflation and economic uncertainty. Airbnb, based in San Francisco, expects revenue to increase by "at least low-double-digits" in 2026. This is roughly in line analysts' estimates of 10,24%. However, the firm does not expect an increase in adjusted core profit margins this year, as it continues to invest in marketing, technology and product. Airbnb has launched a new segment in May 2025 that allows customers book services like a personal chef or yoga instructor. This will allow it to better compete with hotels which offer a greater selection of "frills". In the fourth quarter of 2018, half of Airbnb experiences were not booked with an accommodation. The company is also expanding its hotel offerings by partnering with boutique and independent hotels, in cities like New York and Madrid where regulations have restricted the supply of rentals. Airbnb wrote in a shareholder letter that it believes adding more hotels to the platform will increase its total market. The earnings per share for the 'fourth quarter' were 56 cents, compared with 73 cents one year ago. It reported quarterly revenue of 2,78 billion dollars, compared with expectations of $2.71 million. (Reporting by Aishwarya Jain in Bengaluru; Editing by Sriraj Kalluvila)
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Public Storage's core FFO for the full year is below expectations, and CEO Joe Russell will depart
Public Storage, an investment trust in real estate, forecast its core funds from operations for 2026 below Wall Street expectations on Thursday. This was due to a softer demand for their'self-storage' units and the departure of its CEO. The Glendale-based company is expecting core FFO for the full year to be in the range between $16.35 and $17.00 per common share. According to data compiled by LSEG, the midpoint of this forecast is lower than analysts'?average estimates of $16.91 a share. Joe Russell, the president and CEO of Self-Storage World's largest self-storage facility, will also step down on March 31, 2019. Tom Boyle will succeed him as the new top boss on April 1, replacing Joe Russell, who is currently chief financial officer. Joe Fisher is the new Chief Financial Officer, with effect from February 16. He was previously chief financial officer and investment director at UDR, an?REIT for multifamily housing. Public Storage, a company that leases storage space on a monthly basis to individuals and businesses, reported core FFO at $4.26 per share, compared to $4.21 per a share, for the?quarter ending December 31. The revenue for the fourth quarter was $1.22 billion compared to $1.18 billion the previous year. Public Storage's portfolio consisted of 3,533 self-storage facilities in 40 states. This represents approximately 258 millions net rentable square foot in the United States. (Reporting and editing by Alan Barona in Bengaluru, with Abhinav?Parmar reporting from Bengaluru)
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US Senators criticize FAA failures prior to fatal helicopter collision
U.S. Senators criticized the Federal Aviation Administration on Thursday for a litany of failures that occurred before the collision in January 2025 between an American Airlines regional plane?and Army chopper, which killed 67 people near Reagan Washington National Airport. Senator?Maria Cantwell, the top Democrat on Commerce Committee, stated at a hearing the National Transportation Safety Board's findings about the crash revealed the "failures" of the FAA. The NTSB concluded that the FAA allowed helicopters to fly close to the airport without any safeguards to separate aircraft from helicopters. It also failed to act on data or recommendations to move helicopters away from the airport. Tammy Duckworth is the top Democrat in the aviation subcommittee. She noted that controllers asked to reduce the arrival rate of Reagan Airport, the busiest airport in the United States. Duckworth said that FAA management failed to act upon the warnings raised by a controller workforce understaffed and overworked. Duckworth said that the FAA's failure to act in the face of alarms screamed out by DCA controllers that it was a matter of "when, not if," one of DCA's near misses would turn into a fatal tragedy is emblematic of the chronic crisis that has plagued the FAA under multiple administrations. The crash was the worst aviation accident in U.S. history for more than 20 years. The FAA expressed its appreciation for the NTSB’s expertise and input, and stated that it would carefully consider all recommendations. After the incident, the agency stated that it "?immediately acted to improve safety" and took "decisive steps?to rectify past failures." The NTSB has rebuked FAA for serious communication, culture, and safety issues. The FAA responded by saying it would carefully consider the recommendations. It also said that after the collision, the agency immediately took steps to improve safety. The NTSB found issues with the FAA's handling of traffic at Reagan. It said the agency rejected the advice to include hot spots on a chart for helicopter routes. Homendy also said that the FAA did not review 'helicopter routes as required annually and had routes which were not designed to ensure proper separation. Homendy stated that Helicopter route 4 near DCA, which was closed following the collision, had been in existence since 1986. She said that not one annual review had been done. (Reporting and editing by David Shepardson)
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Airbnb forecast revenue above estimates on premium rentals demand
Airbnb's first-quarter revenue was above Wall Street expectations on Thursday, as it focuses primarily on premium bookings in order to offset a waning demand from budget-conscious customers. According to data compiled and analyzed by LSEG, the company expected a revenue between $2.59 billion - $2.63 billion for the third quarter. This compares with an average analyst estimate of $2.53billion. High-end travelers, such as Marriott and United Airlines hotel operators, are boosting results, while lower-end customers are struggling with sticky inflation and economic insecurity. Analysts had estimated 10,24%. San Francisco-based Airbnb expects revenue to grow "at least in the low double-digits" by 2026. The firm does not expect an increase in adjusted core profit margins this year, as it continues to invest in marketing, technology and product. Airbnb will launch a new segment in?May 2025 that allows guests to book services like a personal chef or a yoga instructor. This will allow it to better compete with hotels which offer a wider selection of frills. In the fourth quarter of 2018, half of Airbnb's experience bookings did not include a booking for accommodation. The company also seeks to expand its?hotels offered by partnering up with boutique and independent hotels in cities such as New York or Madrid where rental supply is limited due to regulations. Airbnb wrote in a shareholder letter that it believes bringing more hotels on the platform will increase its total market. In the fourth quarter of last year, its earnings per share were 56 cents. It reported quarterly revenue of 2,78 billion dollars, compared with expectations of $2.71 million. (Reporting by Aishwarya Jain in Bengaluru; Editing by Sriraj Kalluvila)
What global business leaders have met with Chinese President Xi Jinping?
On Friday, the Chinese president Xi Jinping met with some of the biggest business leaders in the world.
The Chinese leader has met with chairmen, CEOs, and company presidents from major international firms that operate in China for the second consecutive year after the China Development Forum (an annual business conference) held over the weekend.
The meeting last year was focused on the executives of U.S. businesses doing business in China. This year, there were more than 40 participants from around the world.
RAY DALIO BRIDGEWATER ASSOC.
Billionaire Dalio is the head of one of the largest hedge funds in history. He's considered an expert on China investing.
BILL WINTERS is the CEO of STANDARD CHARTERED
When China lifted the foreign ownership cap in 2020, the bank was the very first to establish a securities firm that was owned by foreigners.
STEVE SCHWARZMAN is the CEO of BLACKSTONE GROUP
Schwarzman, who was to meet with Xi before the meeting, said Blackstone, which is the largest alternative asset manager in the world, would "play a proactive role" in promoting U.S. China economic and trade collaboration.
PAUL HUDSON is the CEO of SANOFI
The French drugmaker announced in December last year its largest investment to date in China, a base for insulin production in Beijing worth 1 billion euros ($1.1 billion).
AMIN NASSER PRESIDENT AND CEO SAUDI ARAMCO
Saudi Aramco announced two joint ventures in the refining, petrochemical and state oil industries of China. Middle Eastern energy company has recently increased cooperation with Chinese private companies.
CRISTIANO aMON, PRESIDENT and CEO of QUALCOMM
Qualcomm, a chip-making giant, derived 46% its revenue from its latest fiscal year's customers with headquarters in China.
RAJESH SUBRAMANIAM, PRESIDENT & CEO, FEDEX INC.
FedEx celebrated its 40th anniversary in China last year, where it employs nearly 11,000 people and facilitates international shipping to Chinese customers.
PASCAL SORIT, CEO of ASTRAZENECA
AstraZeneca is AstraZeneca’s second largest market. Last week, the company announced that it would spend $2.5 billion to build a second research and development center in Beijing.
MIGUEL ANGEL BORREGO is the CEO of THYSSENKRUPP.
Decarbon Technologies, a segment of the German industrial giant, has expressed its intention to continue investing in China’s green energy transformation.
BELEN GARIJO is the CEO of MERCK
The company, which makes drugs, lab equipment, and semiconductor chemicals, had a large presence in China. Its annual sales accounted for approximately 3 billion euros.
OLA KALLENIUS, CEO, MERCEDES-BENZ
Mercedes' biggest market is China, and it also has one of the largest manufacturing facilities. In recent years, local EV makers have put pressure on the German automaker. The company says it will continue to invest heavily in China to protect and grow their market share in the coming years.
OLIVER ZIPSE is the CEO of BMW
BMW's share is also under pressure in China, a key market, as local automakers gain market share with cheaper EVs. This forces their European competitors to slash price.
GEORGES ELHEDERY is the CEO of HSBC HOLDINGS
Elhedery, a former finance chief at HSBC, was promoted last year to CEO. He became the bank's first Mandarin speaker.
TOSHIAKI HIGASHIHARA, EXECUTIVE CHAIRMAN, HITACHI LTD.
Hitachi Ltd. is concerned about the pressure on its prices to drop in China, as economic growth slows.
AKIO TOYODA - CHAIRMAN TOYOTA MOTORS
Last month, Toyota announced that it would establish a company owned by the Lexus brand in Shanghai for the development and production of EVs.
KWAK Noh-Jung, CEO of SK HYNIX
Memory chip manufacturer has significant manufacturing facilities in China. These include Wuxi, Dalian and Chongqing.
KLAUS ROSENFELD, THE SCHAEFFLER GROUP
Schaeffler Greater China is an important business partner and supplier to the automotive and industrial sector in the second largest economy of the world.
HUBERTUS BAUMBACH is the CEO of BOEHRINGER INGELHEIM
Boehringer Ingelheim China employs about 4,000 people and focuses on biopharmaceutical manufacturing, animal health, and human pharmaceuticals.
DAVID A. RICKS is the CEO of ELI LILLY
Eli Lilly has received approval for the weight-loss drug, tirzepatide, in China. The company will expand its Suzhou manufacturing facility to produce this in-demand drug along with other pipeline drugs.
JON ABRAHAMSSON, RING, CEO of INTER IKEA GROUP
IKEA China serves 90 million customers each year. The company has stated that it sees plenty of room for growth in a market with over 1.4 billion consumers.
VINCENT CLERC is the CEO of AP MOLLER – MAERSK
In 1924, the Danish shipping giant called in at Shanghai for the first time. Today it has over 18,000 employees working in China.
ROLAND BUSCH PRESIDENT AND CEO of SIEMENS
Siemens, a German industrial conglomerate, recently reported a tepid demand on its main market in China. This was coupled with an increase in competitive pressures.
ALBERT BOURLA is the CEO of PFIZER
Pfizer invested more than $1.5 billion into its Chinese operations. The company is focusing on oncology drugs, vaccines and rare diseases.
EMMA WALMSLEY is the CEO of GSK
After repairing its relationship with local officials after a corruption scandal a decade ago, the global biopharma company is increasing its dealmaking activities in China.
JAY Y. LEE, CHAIRMAN SAMSUNG ELECTRONICS
In 2024, China will surpass the United States in terms of the firm's largest market thanks to the strong sales made by memory chips. (Reporting and editing by Mark Potter. Casey Hall)
(source: Reuters)