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Business Industrials

  • LONDON, Feb 23- U.S. subscription-based airline Surf Air will launch in Europe in May, targeting people who fly business class in a potential challenge to the continent's traditional airlines. The London- headquartered airline will try to better what its sister company, Surf Air, has done in California. Across U.S. and European operations, Surf Air expects to...

  • LONDON, Feb 23- U.S. subscription-based airline Surf Air will launch in Europe in May, targeting people who fly business-class in a potential challenge to the continent's traditional airlines. The London- headquartered airline will try to better what its sister company, Surf Air, has done in California. Surf Air has ordered 45 Swiss-made Pilatus eight-seat jets...

  • SYDNEY/ WELLINGTON Feb 23- Qantas Airways Ltd and Air New Zealand Ltd reported first-half profit declines as an expansion in capacity by rivals hit international airfares, but both airlines said they expect the fierce competition to moderate. Shares in the carriers climbed as Air New Zealand said it was already seeing a reduction in flights by Chinese...

  • DALLAS— The CEO of discount carrier Spirit Airlines says he isn't worried about competing against new, cheaper fares from American and United. The "basic economy" fares from American and United are designed to attract the kind of thrifty fliers that have helped Spirit double in revenue in four years. At least Spirit passengers know what they're getting for what...

  • PHILADELPHIA— Computer troubles are causing problems for American Airlines' passengers at Philadelphia International Airport. American spokeswoman Katie Cody says American's system did not return at 4 a.m. Wednesday after the airport conducted a planned internet outage overnight. As a result, American must manually check in passengers and has halted all...

  • Sales at its logistics business, under which the company offers services such as warehousing and distribution, rose 8.6 percent to $1.38 billion in the fourth quarter ended Dec. 31. The company sold its truckload shipping business, acquired as part of its $3 billion Con-way deal, to Canadian trucking company TransForce Inc for $558 million in October.

  • American announced early Tuesday that it began selling the new fares for flights starting March 1 on 10 different routes from its hub airports in Dallas, Miami, Philadelphia and Charlotte, North Carolina. United followed suit later in the day, posting reduced fares on some flights from Minneapolis to seven of its hub cities including New York, Chicago and Los...

  • PARIS, Feb 21- The head of aircraft leasing group AerCap on Tuesday expressed confidence in airline demand despite a slowdown in the aerospace business cycle, but questioned the durability of plans by Airbus and Boeing for some output increases. Speaking after reporting stronger than expected fourth quarter earnings, chief executive Aengus Kelly said he...

  • *Sales peak looks over for planemakers. PARIS, Feb 21- Airbus will draw a line under two decades of M&A dealmaking and frenetic orders on Wednesday as it reports its first results since the European aerospace and defence group unified under its dominant planemaking arm last month. Mounting legal problems, uncertainty over two major programmes and a changing of...

  • DALLAS— American Airlines has begun selling cheaper "basic economy" fares as it battles discount airlines for the most budget-conscious travelers. American announced Tuesday that it began selling the new fares for flights starting March 1 on 10 different routes from its hub airports in Dallas, Miami, Philadelphia and Charlotte, North Carolina.

  • Feb 21- Package delivery company United Parcel Service Inc tested home delivery by drone in Lithia, Florida, on Monday, the first step in what the company hopes will be a move toward more automated delivery. The Tampa- area test, which UPS said went as expected, came less than a month after UPS said it would push forward investment in automation and technology as the...

  • Pisani: Home Depot is what I call a buyback monster

    CNBC's Bob Pisani looks ahead at what's moving markets this morning including a record high for Home Depot.

  • PHILADELPHIA— Authorities say shipping has reached record levels at the Philadelphia port. Companies from Chile, Peru, and Panama export fruit to Philadelphia instead of Baltimore or Newark. Philadelphia has also seen a massive increase in containers carrying household appliances and beer.

  • LAMBERTVILLE, N.J.— A United Airlines lobbyist and longtime state official accused of conspiracy in a shakedown benefiting the former chairman of the agency that controls New York City- area airports has died. Jamie Fox, who held numerous governmental posts during his career, died Monday at age 62, the Van Horn-McDonough Funeral Home said.

  • JAKARTA, Feb 20- State-owned Indonesian construction firm PT Hutama Karya plans a 5.5 trillion rupiah bond issue in April, aiming to tap into funds being repatriated under the country's tax amnesty program, the finance ministry said on Monday. The government will guarantee the bonds and the finance ministry said investors buying them would help support...

  • ISTANBUL— A Turkish Airlines plane in Istanbul was evacuated Saturday after a suspicious note was discovered in one of its bathrooms. The Turkish Airlines cabin crew found the words "BOMB TO TORONTO" on the bathroom's wall on Flight TK-17 during its pushback from the gate, a Turkish Airlines press official told The Associated Press. The plane was leaving...

  • Saudi Arabia's total defense budget is forecast at $82 billion in 2016, steadily rising to $87 billion in 2020 while that of UAE is put at $15.1 billion in 2016 reaching $17.0 billion in 2020, according to Teal Group, a U.S-based defense analysis firm which has also forecast increased spending by Kuwait, Qatar, Oman and Bahrain. "Defense spending is linked to...

  • Saudi Arabia's total defence budget is forecast at $82 billion in 2016, steadily rising to $87 billion in 2020 while that of UAE is put at $15.1 billion in 2016 reaching $17.0 billion in 2020, according to Teal Group, a U.S-based defence analysis firm which has also forecast increased spending by Kuwait, Qatar, Oman and Bahrain. "Defence spending is linked to...

  • Feb 17- Canadian satellite company MacDonald Dettwiler and Associates Ltd is in talks to buy U.S.-based DigitalGlobe Inc for about $2 billion to $3 billion, Dow Jones reported, citing sources. DigitalGlobe's services are used by companies such Facebook Inc, Uber Technologies Inc and U.S. defense contractor Harris Corp.. MacDonald Dettwiler's shares were...

  • Dormant for nearly six years, NASA's Launch Complex 39 A should see its first commercial flight this weekend. The accident prompted SpaceX to whip 39 A into shape sooner than anticipated under its lease with NASA. NASA built 39 A, as it's commonly known, in the mid-1960s for the monstrous Saturn V moon rockets.