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U.S. stocks rose and Treasury yields declined as investors awaited Federal Reserve’s monetary policy decision and considered indications of further stimulus from other major global central banks.
Boeing (BA) has received major orders for its wide-body twin-aisle Dreamliner planes. The aircraft manufacturer desperately needed new orders for its other planes, as orders for its fast-selling single-aisle 737 MAX jets have been frozen following the Ethiopian Airlines crash on March 10.
On June 18, GE Aviation's (GE) CEO, David Joyce, said that the company is looking to get $35 billion in new business at the Paris Air Show. He's optimistic about crossing that number by a significant margin.
The second day of the Paris Air Show was eventful for the Boeing Company (BA), as it received major orders for its wide-body Dreamliner aircraft. Korean Air Lines committed to the purchase of 20 Boeing Dreamliner series planes split evenly between the 787-9 and 787-10 models.
Early on June 19, Boeing (BA) got another major jet order. Taiwan’s China Airlines announced that it placed an order for up to six 777 Freighter aircraft to modernize its cargo fleet.
Dutch prosecutors have charged four military and intelligence officers from Russia and Ukraine with murder and involvement in the shooting down of Malaysia Airlines flight MH17 in 2014, ramping up international pressure on Moscow over the downing of the jet. At a press conference in The Hague on Wednesday, a Dutch-led joint international investigative team (JIT) said that while the four men did not “push the button” that fired the missile that brought MH17 down, they played a significant role in the events that led to the catastrophe. MH17 was flying from Amsterdam to Kuala Lumpur, Malaysia, on July 17, 2014 when it was shot down over eastern Ukraine, killing all 298 people on board and sparking international outrage.
GE and its CFM joint venture reeled in tens of billions of dollars of orders in the first two days of the 2019 Paris Air Show.
On June 18, Boeing (BA) won its first order for the troubled 737 MAX jets since they were grounded in mid-March. On the second day of the Paris Air Show, International Consolidated Airlines Group (or IAG), the parent company of British Airways, signed a letter of intent to purchase 200 Boeing 737 MAX planes.
The U.S. aerospace giant received an impressive vote of confidence in its troubled Boeing 737 MAX family from one of the largest airline groups in the world.
(Bloomberg) -- The U.S. Federal Aviation Administration says Boeing Co. will likely have to revise its analysis of the fixes proposed for the grounded 737 Max before the jet can be returned to service.Boeing has prepared a draft “integrated system safety analysis” for the 737 Max’s fixes, but the FAA expects the planemaker will have to make changes before it will be approved, according to an emailed memo to Congressional staff obtained by Bloomberg News.The memo helps shed light on why the fix, which Boeing initially said would be completed months ago, still hasn’t been formally submitted to FAA for approval.“Based on our initial review, we expect that Boeing will need to revise this document prior to formal FAA submittal,” said the memo written Tuesday by Philip Newman, the agency’s assistant administrator for government and industry affairs.Testing of new software designed to prevent the two fatal crashes on Boeing’s best-selling jet is also still underway with FAA oversight, according to the memo. In a statement, Chicago-based Boeing said it was “committed to providing the FAA and global regulators the information needed to support their approval to return the 737 Max to service safely.”The 737 Max family of jetliners was grounded March 13 after the second fatal crash within five months. In both accidents, which killed a combined 346 people, a malfunctioning safety system was repeatedly driving down the plane’s nose and pilots couldn’t respond.Boeing is redesigning the Maneuvering Characteristics Augmentation System, or MCAS, to prevent it from activating repeatedly and is adding inputs from a second sensor to make it less prone to failure. The manufacturer and FAA will also suggest new pilot training and emergency procedures.In addition to FAA’s review of the Boeing work on the 737 Max, a separate panel of experts known as the Technical Advisory Board is conducting its own assessment of the fix.(Updates with Boeing comment in sixth paragraph.)To contact the reporters on this story: Shaun Courtney in Washington at firstname.lastname@example.org;Alan Levin in Washington at email@example.comTo contact the editors responsible for this story: Jon Morgan at firstname.lastname@example.org, Susan WarrenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- It’s hard not to feel some sympathy for Patrick Shanahan. The acting U.S. secretary of defense said Tuesday he is leaving government because of “a painful and deeply personal family situation” from a decade ago that he had hoped to keep private. Now the details have become public, and the FBI’s lingering questions are the ostensible reason that Shanahan has withdrawn from consideration to replace James Mattis, who resigned as the Pentagon’s chief in December.At the same time, as difficult as it is for Shanahan, the change is probably for the best — for him, his family and the country.Shanahan was out of his depth as the civilian leader of the world’s largest military. He was not an effective advocate inside the executive branch for his department. He was not good at making friends in Congress. And he was not adept at explaining the president’s policies to allies and the public.Start with Congress. From the beginning of Donald Trump’s administration, when Shanahan was nominated as deputy defense secretary, he alienated lawmakers he needed to befriend. At his nomination hearing in 2017, the late Senator John McCain took him to task for his written response to a question about arming Ukraine’s government to fight Russian separatists. Shanahan said he needed to study the issue. Although Shanahan later said he supported arming Ukraine, McCain was so angry he threatened to hold his nomination.True, Shanahan had a thankless task, especially once he became acting defense secretary: explaining the president’s policies to an often skeptical Congress. Mattis often tried to stop Trump from committing egregious errors. Shanahan was more often an enabler instead of a check on the president’s worst instincts.Consider an incident in February at the Munich Security Conference, when America’s European allies as well as members of Congress were still trying to get the details about Trump’s initial plan to withdraw all U.S. forces from Syria. As the Washington Post’s Josh Rogin reported at the time, when Shanahan was asked by Senator Lindsey Graham — one of Trump’s staunchest defenders in Congress — for more details about the plan, Shanahan merely repeated the president’s talking points. Graham was incensed. As another senator told Rogin, “Shanahan did not have a good meeting.”Shanahan also seemed ill-equipped for the bureaucratic infighting that comes with an office in the Pentagon. He allowed National Security Adviser John Bolton to contact lower-ranking Pentagon officials directly, for example, something Mattis and stronger Pentagon chiefs would never have allowed. More generally, says Rick Berger, a research fellow at the American Enterprise Institute and a former staff member specializing in defense policy for the Senate Budget Committee, “He did not tell the department’s story or try to convince the White House of the importance of defense as a whole.”Shanahan’s lack of bureaucratic experience (he is a former executive at Boeing), was also apparent when it came to the military’s budget. He didn’t stop the White House from proposing the use of military construction funds, which are treated as sacred by many members of Congress, for building a border wall with Mexico. More recently, he went along with the White House proposal to boost the defense budget through a contingency account that doesn’t allow for planning long-term spending. Shanahan could have resisted these budget shenanigans, but he didn’t.Of course — as Shanahan’s predecessor memorably observed — the president deserves a secretary of defense whose views are aligned with his. But nothing in Washington comes without some give and take. The most effective Cabinet secretaries understand that they have an obligation to fight for the department they lead, even if that sometimes means standing up to the White House. Shanahan seems never to have learned that lesson.To contact the author of this story: Eli Lake at email@example.comTo contact the editor responsible for this story: Michael Newman at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Eli Lake is a Bloomberg Opinion columnist covering national security and foreign policy. He was the senior national security correspondent for the Daily Beast and covered national security and intelligence for the Washington Times, the New York Sun and UPI.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg Opinion) -- Boeing Co. just got a big vote of confidence, but it still has much to prove.The commercial-jet maker on Tuesday announced a surprise order for its 737 Max jet – the first since the top-selling aircraft was involved in two fatal crashes that prompted regulators around the globe to ground it and sparked a full-blown crisis for the company. British Airways owner IAG SA signed a letter of intent for 200 of the planes at the Paris Air Show, with IAG CEO Willie Walsh saying he “would get on board a Max tomorrow.”It was Boeing’s most significant win of the event and helps the aerospace giant close the gap in its annual order showdown with arch-rival Airbus SE, which had racked up an impressive lead thanks to interest in the new longer-range version of its largest-single aisle jet. But this air show was always about more than orders for Boeing. Expectations for orders in general were low this year but expectations for Max orders were at zero. IAG’s willingness to back the Max gives Boeing’s reputation the credibility boost it so badly needed. The question is whether Boeing has done enough in terms of improving its transparency, communication and oversight issues to deserve that kind of endorsement.The relative dearth of orders for Boeing jets in the wake of the Max crisis had been the strongest means yet of holding the company accountable. The Max order – as well as orders for the 787 Dreamliner from Air Lease Corp. and Korean Airlines Co., also inked on Tuesday – gets it out of the aviation industry’s version of timeout. That was always inevitable: Boeing and Airbus enjoy a relative duopoly in commercial aviation and airlines would be reluctant to tilt the market-share balance too much in Airbus’s favor. But that doesn’t create much incentive for Boeing to fundamentally change its ways.CEO Dennis Muilenburg has created a special board committee to review Boeing’s operations, and has apologized for not notifying regulators or airlines earlier that a warning light linked to the software system at the heart of the Max’s woes wasn’t functioning properly. While there are no immediate plans to do so, Boeing CFO Greg Smith told Bloomberg News’s Julie Johnsson that the company could be open to changing the name of the plane, based on customer and passenger input. But will real changes actually be made? Will it take another Max crisis for us to find out if they were? It may be that Boeing will pay the pay the price for its missteps one way or another. For all the fixation on the Max and the debate around how long it would take for passengers to feel comfortable flying on the plane, Boeing’s customers have remained resolute in their support for the jet and its underlying value. “All of the operators of the Max, I can tell you, everyone likes it,” AerCap Holdings NV CEO Aengus Kelly said in an interview last week. “The fuel burn has been very good. People realize that and are trying to take advantage of the situation.” A win is a win, but what did Boeing have to give up to secure this kind of support from IAG? The deal is valued at $24 billion before accounting for customary discounts. The carrier is well-respected and isn’t usually the type to shop based on price. Its CEO is a former 737 pilot. In some ways, that makes this deal mean even more. But speculation about whether this was a sweetheart deal is likely to swirl.Boeing can now leave the Air Show with its head held a little higher, but its reputation won’t be rebuilt overnight.To contact the author of this story: Brooke Sutherland at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
With little new information coming from the aerospace giant at the Paris Air Show, aviation analysts debated changing the name of the troubled 737 MAX.
Investing.com - Stocks took off on Tuesday after President Donald Trump announced he plans to meet with Chinese President Xi Jinping in a bid to resolve their trade dispute.
Analysts seem to be positive on NRG Energy (NRG) stock. The stock offers a handsome upside potential of more than 37% for the next 12 months. NRG Energy has a target price of $47.4.
The Zacks Analyst Blog Highlights: Boeing, Lockheed, Raytheon, General Dynamics and Huntington