Air Freight and Logistics
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GENEVA, April 2- The global air cargo market is set to extend its slow recovery unless a fresh blow to confidence from the euro zone reverses the trend, the International Air Transport Association said on Tuesday. "This is welcome news after two consecutive years of contraction," IATA chief executive Tony Tyler said in a statement.
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*FedEx to step-up cost-cutting, reduce international capacity. March 20- FedEx Corp cut its full-year forecast after a worse-than-expected third-quarter profit as customers shift from air express to slower but cheaper modes of shipping.
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March 20- FedEx Corp reported a worse-than-expected quarterly profit due to weakness in its air express business, and said it would step up its cost-cutting program as customers shift to cheaper forms of freight transportation. FedEx shares fell 3 percent in premarket trading. Excluding items, FedEx earned $1.23 per share.
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The No. 2 U.S. package-delivery company said net income fell to $361 million, or $1.13 per share, in the third quarter, from $521 million, or $1.65 per share, a year earlier.
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GENEVA, March 20- The global airlines body IATA predicted on Wednesday that the industry would increase profits by 58 percent this year, driven by growing passenger and cargo demand in emerging markets and better prospects for the world economy.
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After a lackluster few years for the air cargo industry, the CEO of Cathay Pacific Airways told CNBC he expects a recovery in global demand to rejuvenate the flagging sector.
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Federal regulators have approved a Boeing plan to redesign the 787 Dreamliner's batteries, though extensive testing will be needed before the planes can fly passengers again.
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GENEVA, March 4- Global air freight traffic rose 4.5 percent in January, driven by growth in Asia and the Middle East in an encouraging start to the year although it remains well below levels seen two years ago, IATA said on Monday. But it's too early to be overly optimistic, "said Tony Tyler, Chief Executive of the International Air Transport Association.
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GENEVA, March 4- International air freight traffic rose by 4.5 percent in January from the same month a year ago, the International Air Transport Association said on Monday.
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United Airlines is keeping the grounded Boeing 787 Dreamliner off its schedule at least through mid-May.
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Jeffrey Schwartz, Deputy Chairman at Global Logistic Properties reports a 30.7% rise in Q3 net profits and is optimistic about the company's outlook. He speaks about the company's J-Reit listing in Tokyo.
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Irish airline Aer Lingus said on Wednesday an attempt by Ryanair to buy the company was likely to fail, and pointed to a jump in profits last year as proof it could flourish on its own.
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BRUSSELS, Jan 30- EU antitrust regulators blocked a 5.2 billion euro bid by United Parcel Service Inc for TNT Express, denting the world No. 1 package delivery company's hopes of expanding its presence in Asia and Latin America. The European Commission said UPS had not offered adequate concessions to ensure the deal would not hurt consumers.
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BRUSSELS, Jan 30- EU antitrust regulators blocked a 5.2 billion euro bid by United Parcel Service Inc for TNT Express as expected, saying the firm had not offered adequate concessions to ensure the deal would not hurt consumers.
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*Banks, traders have bought warehouse firms in last 3 years. *Newcomers reap rental profits as queues for metal grow. LONDON/ NEW YORK, Jan 16- Old-style warehouse firms are coming to accept that big traders and banks, muscling in on storage of metals like aluminium, may have changed it forever into a financial business from a service to manufacturers.
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HONG KONG, Jan 11- Hong Kong shares could start slightly higher on Friday, ahead of China's December inflation data expected later in the day that is forecast to hit a 7- month high of 2.3 percent.
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Iron ore exports to China from Australia's Port Hedland, a bellwether for Chinese industrial activity, surged 25 percent in December from the previous month to a record level, shipping data showed.
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Dec 19- FedEx Corp profit fell 11.9 percent in the second quarter, less than investors had feared, as the No. 2 U.S. package delivery company struggled to improve demand at its air freight business.
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HOUSTON, Dec 17- Two years on, a gusher of U.S. shale oil production is finally starting to seep into California, where refiners in the country's most isolated fuel market are waging an increasingly desperate battle to curb costs.
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SAO PAULO, Dec 12- Brazilian jet maker Embraer SA aims to rebuild its depleted order backlog next year with two major new offerings-- a military cargo plane and a re-engined family of regional jets-- executives said on Wednesday.