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Industrials

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  • *Unipec's oil stored on huge tanker close to Singapore. NEW DELHI/ SINGAPORE, May 22- Chinese trader Unipec has sold 2 million barrels of crude held for months on one of the world's largest tankers, industry sources said, as rising oil prices prompt commodity firms to offload cargoes from floating storage. The crude will be delivered from the TI Europe, an Ultra Large...

  • Latin American bidders vie for Portuguese flag carrier Thursday, 21 May 2015 | 10:25 AM ET

    LISBON, Portugal— The Portuguese government says it will hold talks with two Latin American airline operators to decide which of the two will be sold a 61 percent stake in state-owned flag carrier TAP Air Portugal. The government said in a statement Thursday that bids from David Neeleman, who founded Brazil's third-largest airline Azul, and from German...

  • STOCKHOLM/ OSLO, May 21- Scandinavian airline SAS struck a deal with its Swedish pilots' union on Thursday over staffing but failed to reach an accord with around 300 pilots in Norway, raising the risk of major conflict at the top Nordic carrier. SAS cancelled 110 flights on Wednesday as a precaution ahead of a potential strike in Sweden but said services should be...

  • U.S. airlines ramp up competition, capacity in Dallas Wednesday, 20 May 2015 | 6:45 PM ET

    May 20- The shares of U.S. airlines plunged on Wednesday on concerns that several big carriers are gearing up for a fare war, with Dallas as ground zero. Southwest said the acquisition of two airport gates at its Dallas Love Field hub will contribute to the increase. American Airlines Group Inc President Scott Kirby said during a transportation conference on...

  • Airline stocks tumbling for second straight day Wednesday, 20 May 2015 | 2:46 PM ET

    Doug Parker, the CEO of American Airlines Group Inc., told CNBC that some airlines were growing too fast, expanding their passenger-carrying capacity by 8 percent or more. Some airlines including Southwest, JetBlue and Spirit have been growing rapidly. Southwest Airlines Co. fell $3.72, or 9.1 percent, to $37.19; while Delta Air Lines Inc. lost $2.59, or 5.6...

  • NEW YORK— Southwest Airlines Co. is speeding up its planned growth, which worries analysts, and American Airlines says profit margins will probably fall next year. Cowen and Co. analyst Helane Becker said there is "growing concern" about the effect that Southwest's growth will have on the rest of the industry— analysts worry that more flights will lead to lower...

  • RIO DE JANEIRO, May 19- Brazilian miner Vale said on Tuesday it agreed to sell four large iron ore carriers to China Merchants Energy Shipping Co, as it looks to raise cash in the midst of an iron ore price slump. In a separate statement on Tuesday, the miner said it had completed the sale of four other large iron ore carriers to China Ocean Shipping Company, which was...

  • Marseille Prosecutor Brice Robin said Tuesday that death certificates for everyone aboard the doomed Airbus A320 jet have been signed and turned over to officials at German airline Lufthansa, parent company of the low-cost airline. Authorities say co-pilot Andreas Lubitz intentionally crashed the Barcelona- Duesseldorf flight into a mountain, but are...

  • WASHINGTON— The U.S. housing market has given a sudden jolt to what appeared to be a slumping economy. Builders broke ground on homes last month at the fastest pace in more than seven years. "If you're willing to buy a house, that speaks volumes about your confidence, job prospects and economic fortunes going forward," said Michael Dolega, a senior economist at TD Bank.

  • Cathay Pacific flight attendants protest at HK airport Tuesday, 19 May 2015 | 6:59 AM ET

    HONG KONG— Several hundred Cathay Pacific flight attendants were camped inside Hong Kong's airport on Tuesday after union members voted for industrial action to protest treatment by the airline. Union member Ada So said about 400 cabin staff had gathered in front of the Cathay check-in desks. Cathay Pacific, Hong Kong's biggest airline, said it has no plans to...

  • Ahead of the Bell: US home construction Tuesday, 19 May 2015 | 6:19 AM ET

    WASHINGTON— The Commerce Department reports on April U.S. home construction Tuesday at 8:30 a.m. Eastern. Sales of existing homes jumped 6.1 percent in March to a seasonally adjusted annual rate of 5.19 million, the National Association of Realtors said last month. The National Association of Home Builders/Wells Fargo builder sentiment index released...

  • BEIJING, May 19- A Chinese consortium of Ruili Airlines, a privately-owned start-up budget carrier, and two leasing firms has signed a deal to buy 60 B737 MAX jets from Boeing Co for 38 billion yuan, the official Xinhua News Agency said late on Monday. One-year-old Ruili, based in southwestern China's Yunnan province, aims to expand its fleet to 56 jets by the end of...

  • LOS ANGELES— A Georgia man who posed as an airline employee to make cut-rate reservations then resold the tickets for thousands of dollars has been sentenced in Los Angeles to six months in prison. The U.S. Attorney's Office says 38- year-old Gilbert Myers Jr. of Atlanta was also sentenced to six months of home detention and ordered to pay over $91,000 in...

  • LOS ANGELES— A Hawaii- bound jetliner returned safely to Los Angeles on Monday after a cockpit light suggested a fuel valve was open. Hawaiian Airlines Flight 3 was about half an hour over the Pacific Ocean, on its way from Los Angeles International Airport to Honolulu, when a warning light on the Airbus A330 illuminated. The flight, with 290 passengers and 10...

  • JAKARTA, May 19- For Indonesia's second-largest state construction firm PT Wijaya Karya Tbk, the half-year since President Joko "Jokowi" Widodo took office with promises of a massive infrastructure push has been as much about waiting as it has been about building. Shares of Wijaya Karya, PT Waskita Karya Tbk, PT Adhi Karya Tbk and PT Pembangunan Perumahan Tbk now...

  • A security researcher told federal agents he was able to hack into aircraft computer systems mid-flight numerous times through the in-flight entertainment systems, and at one point he caused a plane he was on to move sideways, according to an FBI agent's affidavit. The researcher, Chris Roberts, was questioned upon his arrival at the Syracuse, New York, airport...

  • US homebuilders' confidence in sales prospects ebbs Monday, 18 May 2015 | 10:00 AM ET

    The National Association of Home Builders/Wells Fargo builder sentiment index released Monday slipped to 54 this month, down two points from 56 in April. "Consumers are exhibiting caution, and want to be on more stable financial footing before purchasing a home," said NAHB Chief Economist David Crowe. Sales of new U.S. homes plummeted 11.4 percent in March, as the...

  • LISBON, Portugal— Portuguese officials are evaluating three bids submitted for a 61 percent stake in TAP Air Portugal as the government makes a second attempt to privatize the flag carrier. The airline and government experts are expected to report on the merits of each bid by the end of May. The government may then announce a winner, or select one or more bidders...

  • NEW YORK— A record number of travelers are expected to take to the skies this summer thanks to a rebounding economy. Those extra seats have given pause to some Wall Street analysts who worry that airlines might have to discount fares to fill them. Vacationers to Europe will fare better, with the average ticket down 3 percent to $1,619, about $50 less than last summer,...

  • May 18- Summer travel on U.S. airlines is expected to reach an all-time high this year on the wings of a strong U.S. economy, Washington- based trade group Airlines for America said on Monday. The top three nonstop international destinations from the United States are Canada, Mexico and the United Kingdom, the group said. Strong U.S. domestic demand is poised to...