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Morning News Call - India, January 23
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FACTORS TO WATCH
11:00 am: Telecom CEOs meeting with TRAI Chairman R.S. Sharma in New Delhi.
12:00 pm: United Spirits post-earnings analyst conference call in Mumbai.
12:30 pm: Finance Minister Arun Jaitley,
Stronger shield from HNA would benefit Avolon, rating experts say
DUBLIN, Jan 22 (Reuters) - Irish aircraft leasing firm
Avolon is sheltered from problems facing its Chinese parent HNA
Group, but its credit profile would benefit from a guarantee
that it would not be forced to bail out the group, ratings
analysts said on Monday.
After Amazon miss, Detroit shows largest new auto plant in two decades
DETROIT, Jan 22 (Reuters) - Days after Detroit lost out in
the race to host Amazon.com Inc's second headquarters,
the city's mayor and the billionaire owner of auto supplier
Flex-N-Gate Corp offered a sneak preview of what will be the
largest new auto factory built in the city since the 1990s.
Rupert Murdoch wants Facebook, Google to pay 'trusted' publishers a fee for content
Rupert Murdoch, the executive chairman of News Corp., wants Facebook Inc. and Alphabet Inc.'s Google to pay trusted publishers of news a fee to carry their journalism. "There has been much discussion about subscription models but I have yet to see a proposal that truly recognizes the investment in and the social value of professional journalism," Murdoch said in a statement. Facebook, over the last year has come under fire for allowing special interest groups to flood its feeds with false information and made up content. The company has made recent efforts to ease concerns and promote community trusted news sources. "If Facebook wants to recognize 'trusted' publishers then it should pay those publishers a carriage fee similar to the model adopted by cable companies," Murdoch said. "The publishers are obviously enhancing the value and integrity of Facebook through their news and content but are not being adequately rewarded for those services." MarketWatch is a unit of News Corp, which shares ownership with 21st Century Fox. Shares of Facebook are up more than 42% in the last 12 months and Alphabet shares have gained more than 40%. By comparison, the S&P 500 index is up nearly 25% and the Dow Jones Industrial Average is up 32%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
U.S. requires tougher cargo screening from Middle East airports
The U.S. Transportation Security Administration said on Monday it will require six Middle Eastern carriers to undergo enhanced cargo screening as part of an effort to raise global aviation security. The emergency amendment covers carriers in five countries flying out of seven airports and focuses "on last points of departure locations where the threat is greatest," TSA said in a statement.
UPDATE 1-Airbus plots response as Boeing warms to new jet -Air Lease CEO
DUBLIN, Jan 22 (Reuters) - Plans for a potential new Boeing
mid-sized jet are gaining momentum, prompting Airbus
to respond by beefing up its strong-selling A321neo
model, Air Lease Corp Chief Executive John Plueger said
Government brings charges against six CPAs over using leaked data to boost KPMG inspection reports
The Securities and Exchange Commission and the U.S. Attorney's Office for the Southern District of New York announced charges on Monday against six certified public accountants - five former KPMG partners and one former staffer at the audit regulator, the Public Company Accounting Oversight Board. They allegedly misappropriated and used confidential information relating to the PCAOB's planned inspections of KPMG audits. The SEC alleges that the misconduct allegedly began in 2015 when former PCAOB officials made unauthorized downloads of the regulator's plans for inspections of KPMG audits, enabling the former KPMG partners to revise audit workpapers to mimimize negative inspection results. Soon after the conduct was discovered in early 2017, the six respondents were terminated, resigned or placed on leave before separating from KPMG and the PCAOB, respectively. SEC Chairman Jay Clayton in a statement said that the alleged conduct is "disturbing" but he does not currently believe that this will adversely affect the ability of companies to continue to use audit reports issued by KPMG or for investors to rely upon those reports.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Major carriers say no plans to hedge fuel despite rising prices
Four of the world's largest airlines - U.S. heavyweights Delta, American and United as well as Dubai-based Emirates - said on Monday they had no plans to start hedging their fuel bills despite recent rises in oil prices.
BRIEF-Major airlines say no plans to hedge fuel
* UNITED AIRLINES EXEC SAYS LOOKING AT ACQUIRING MID-LIFE, SECOND-HAND AIRCRAFT. * EMIRATES AIRLINE EXEC SAYS NO PLANS TO ORDER NARROWBODY JETS. * AMERICAN AIRLINES EXEC SAYS NO PLANS TO HEDGE FUEL COSTS, CAN PASS THROUGH CHANGES IN OIL PRICE. * DELTA AIR LINES (DAL), UNITED CONTINENTAL (UAL), EMIRATES EXECS ALSO TELL CONFERENCE THEY HAVE NO PLANS TO START FUEL HEDGING.
Airbus in talks with insurers to fill export funding gap
* Talks emerge as export credits for Airbus remain frozen. * U.S. export credits for Boeing (BA) also remain offline. * Airbus, Boeing (BA) see export uncertainty resolved soon. By Tim Hepher and Conor Humphries.
Abercrombie & Fitch shares jump after guidance raised
Abercrombie & Fitch Co. shares jumped 3.7% in Monday premarket trading after the retailer raised its fourth-quarter guidance. Abercrombie & Fitch's portfolio includes the namesake chain and Hollister. It now expects same-store sales to rise in the high-single digits and sales are expected to be up in the low-teens. The previous guidance was for a low-single-digit same-store sales increase, and a mid-to-high-single-digit rise in sales. Abercrombie & Fitch expects a "significant" income tax charge largely related to a one-time repatriation tax. In addition, the retailer announced that Arthur Martinez, 78, will step down as executive chairman of the board on Feb. 3, 2018, the end of the fiscal year. He is retiring as director and will not stand for re-election at the company's annual meeting in June. Terry Burman, 72, lead independent director and chair of the nominating and board governance committee, will become non-executive chairman at that point. Both executives joined the board in January 2014. The company plans to release fourth-quarter and full-year fiscal 2017 results on March 7. Abercrombie & Fitch shares are up 67.4% for the past year, outpacing the S&P 500 index , which is up 23.7% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Pareteum And Airfox Expand Blockchain Technology Partnership
Pareteum Corp(TEUM): * PARETEUM AND AIRFOX EXPAND BLOCKCHAIN TECHNOLOGY PARTNERSHIP Source text for Eikon: Further company coverage:
BRIEF-AerCap Says Leased, Purchased And Sold 402 Aircraft In 2017
Aercap Holdings Nv(AER): * AERCAP LEASED, PURCHASED AND SOLD 402 AIRCRAFT IN 2017. * AERCAP HOLDINGS NV SAYS IN Q4 2017, CO SIGNED LEASE AGREEMENTS FOR 46 AIRCRAFT, PURCHASED 25 AIRCRAFT & EXECUTED SALE TRANSACTIONS FOR 29 AIRCRAFT Source text for Eikon: Further company coverage:
1 Stock I'm Buying More Of in 2018
One airline stock is trading for less than 7 times trailing earnings -- even though the company is likely to achieve double-digit EPS growth in 2018.
BRIEF-Peat Resources Signs Agreement To Acquire Belair African Metals Sarl
Peat Resources Ltd(PEATF): * PEAT RESOURCES LIMITED SIGNS DEFINITIVE AGREEMENT TO ACQUIRE BELAIR AFRICAN METALS SARL. * PEAT RESOURCES(PEATF) - TO ACQUIRE 100% OF ISSUED SHARES OF BELAIR IN CONSIDERATION OF 15 MILLION FULLY-PAID AND NON-ASSESSABLE COMMON SHARES OF COMPANY Source text for Eikon: Further company coverage:
Norwegian Air flies New York-London at new record time
** Low-cost airline Norwegian Air has set a new record time for its fastest ever transatlantic flight by a subsonic passenger aircraft this week using the Boeing 787-9 Dreamliner, it says in a press release. ** Norwegian flight DY7014 from New York JFK to London Gatwick on Monday 15 January completed the full duration of the flight in 5 hours and 13 minutes.
Emirates A380 orders allow Airbus to maintain minimum production - COO
PARIS (Reuters) - Airbus Chief Operating Officer Fabrice Bregier said on Friday that Emirates' latest order for up to 36 A380 aircraft worth $16 billion at list price would allow the European planemaker to maintain a minimum production level of the superjumbo.
Uber co-founder Travis Kalanick a billionaire after $8bn investment deal
Travis Kalanick is selling $1.4bn worth of shares as consortium invest $8bn in the ride-hailing firm.
San Francisco Fed President John Williams is up for No. 2 Fed post: report
John Williams, president of the San Francisco Federal Reserve, is being considered by the White House to become vice chairman of the Federal Reserve Board in Washington, the Wall Street Journal reported Thursday. That would put him in the No. 2 position behind new Fed Chairman Jerome Powell. The Journal reported that other candidates for the job include Pimco director Richard Clarida, former Fed official Lawrence Lindsey and former Pimco CEO Mohamed El-Erian.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Trump lawyer used shell company to pay off ex-porn star: report
President Donald Trump's personal attorney used a shell company and pseudonyms to pay for a former porn star's silence over claims that she had a sexual encounter with Trump, according to a Wall Street Journal report Thursday. Citing corporate documents and confidential sources, the Journal reported Michael Cohen opened a private Delaware company in October 2016 and then used a bank account linked to the company to pay $130,000 to Stephanie Clifford, also known as Stormy Daniels, in exchange for a nondisclosure agreement. Both parties used pseudonyms to mask the transaction, the Journal said. Cohen, however, used his own name as an "authorized person" for the company, the Journal reported, rather than hiring a lawyer for that task to hide his identity. Cohen told the Journal last week that Trump denies the claims. This week, the magazine In Touch Weekly ran a 2011 interview with Clifford in which she describes the 2006 sexual encounter with Trump, though she has since denied details of the affair.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Billionaire restaurant mogul says he may start accepting Bitcoin
This Billionaire Restaurant Mogul Says He May Start Accepting Bitcoin
Outback Australians grounded as pilot crisis worsens
(Reuters) - A recruitment drive by Australia's Qantas Airways Ltd after a seven-year hiatus is exacerbating shortages of pilots at regional air services that provide a lifeline to remote communities in the country's sparsely populated Outback.
BRIEF-Brian Crutcher To Become Next CEO Of Texas Instruments
Texas Instruments Inc(TXN): * BRIAN CRUTCHER TO BECOME NEXT CEO OF TI ON JUNE 1 AND CURRENT CEO RICH TEMPLETON CONTINUES AS CHAIRMAN. * Texas Instruments Inc(TXN) - BOARD OF DIRECTORS HAS SELECTED BRIAN CRUTCHER TO BECOME COMPANY'S NEXT PRESIDENT AND CHIEF EXECUTIVE OFFICER Source text for Eikon: Further company coverage:
Texas Instruments names new chief executive
Texas Instruments Inc. said Thursday that Chief Executive Rich Templeton will transition to a chairman role and be replaced by current Chief Operating Officer Brian Crutcher. Templeton has been CEO of TI for 14 years, and will continue in the role until June 1, when Crutcher will take over. "The directors have had a number of years to assess Brian's ability, results and style, and we are highly confident he is TI's next great leader," TI lead director Wayne Sanders said in Thursday's announcement. Crutcher has worked for TI for 22 years, and was promoted to chief operating officer and added to the board of directors last year. The chip maker's stock hit an all-time intraday high of $119.98 Thursday before falling to a daily decline of 2.3% with a close of $116.41. Shares gained about 0.4% in after-hours trading.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Malaysian Airlines flight makes emergency landing in Alice Springs
A Malaysian Airlines flight from Sydney to Kuala Lumpur was forced to make an emergency landing in remote outback Australia on Thursday after running into "technical difficulties". All 200 or so passengers on MH122 were reported safe after the Airbus A330-300 was diverted to Alice Springs in the Northern Territory after suffering a fault in one engine.
The Latest: Luggage limbo: Bags still missing after JFK woes
The Latest on the aftermath of a snowstorm at New York's JFK Airport (all times local): 3:30 p.m.
Lions Gate shares gain 10% on report of merger talks with Amazon, CBS-Viacom, others
Lions Gate Entertainment Corp. shares rose nearly 10% on Thursday after a Deadline report, citing one unnamed source, that the company is in active merger talks with Amazon.com Inc. , Verizon Communications Inc. and a potentially recombined Viacom Inc. and CBS Corp. . Lions Gate declined to comment. The report comes after multiple media reports that Shari Redstone, vice chair of Viacom and CBS, is pushing for the two companies to merge. Shares of Viacom rose roughly 8% on Thursday, while CBS shares rose almost 5%. Walt Disney Co. is also in the midst of trying to acquire TV and film entertainment assets from 21st Century Fox Inc. . Shares of Lions Gate Entertainment have gained more than 24% in the last 12 months, while the S&P 500 index is up more than 23% and the Dow Jones Industrial Average is up almost 32%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
American Airlines adding shuttle flights between NY, Chicago
American Airlines plans to start shuttle flights between New York and Chicago this spring
BRIEF-Spirit Airlines Adds New Service Between Atlantic City and New Orleans
* SPIRIT AIRLINES SAYS STARTS NEW NONSTOP SERVICE
ATLANTIC CITY INTERNATIONAL AIRPORT TO LOUIS ARMSTRONG NEW
ORLEANS INTERNATIONAL AIRPORT
Source text for Eikon:
Further company coverage:
Facebook adds former American Express CEO to board
Facebook Inc. said Thursday that American Express Co. Chief Executive Kenneth Chenault has agreed to join its board of directors. Facebook stock is up 1.6% to $180.48 in early afternoon trading. "I've been trying to recruit Ken for years," Facebook CEO Mark Zuckerberg wrote in a post on his platform. "He has unique expertise in areas I believe Facebook needs to learn and improve -- customer service, direct commerce, and building a trusted brand. Ken also has a strong sense of social mission and the perspective that comes from running an important public company for decades." Chenault joined AmEx in 1981 and was appointed top boss in 2001, a post he will retain until Feb. 1, when he formally cedes the reins to Stephen Squeri. He will also step down as AmEx chairman. Facebook stock has gained 41% in the last 12 months, with the S&P 500 index gaining 23%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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