Yu-dee Chang, Principal and Chief Trader, ACE Investment Strategists says that with uncertainties weighing on the U.S. economy, the airline sector is not where he wants to be in.
DALLAS-- The federal government is examining two separate incidents in which passenger seats came loose midflight on American Airlines planes in the last three days. On Saturday, a flight from Boston to Miami made an emergency landing in New York after three passenger seats came loose shortly after takeoff.
CHARLESTON, South Carolina, Oct 1- Boeing Co. Chief Executive Officer Jim McNerney said on Monday he expects contract talks with the company's 23,000 unionized engineers to result in a "successful resolution over the next few weeks."
*UK could use "golden share" to block deal unless terms met. BERLIN/ PARIS, Oct 1- EADS and BAE Systems battled to save their $45 billion merger plan from the crossfire of competing interests on Monday as governments and shareholders staked out positions in talks aimed at creating the world's biggest arms firm.
SEATTLE-- Boeing Co.' s union of engineers and technical workers is expected to reject the aerospace giant's first contract offer when mail-in ballots are counted Monday evening. Union leaders for the Society of Professional Engineering Employees in Aerospace, or SPEEA, have recommended that its 23,000 members reject Boeing's four-year contract offers.
LONDON, Oct 1- EADS Chief Executive Tom Enders called for negotiators to resolve uncertainty as soon as possible over a planned $45 billion merger with BAE Systems. We cannot go on much longer, "he told an audience at the Royal Academy of Engineering in London. EADS board chairman Arnaud Lagardere, whose Lagardere.
NEW YORK, Oct 1- U.S. manufacturing unexpectedly expanded in September for the first time since May as new orders and employment picked up, but the pace of growth showed the economy was still stuck in a slow recovery. The Institute for Supply Management said on Monday its index of national factory activity rose to 51.5 from 49.6 in August.
WASHINGTON-- Eventually, the economic recovery will pick up steam _ whether Barack Obama or Mitt Romney is in the White House. But first, Obama or Romney, together with Congress, will have to pull back from the widely deplored "fiscal cliff," the politically created budget abyss facing the nation at year's end.
*Euro zone heading toward recession, China still slowing. NEW YORK, Oct 1- U.S. stocks advanced on Monday after a surprise expansion in U.S. manufacturing last month eased concerns about the economy and offset a gloomier outlook in Asia and Europe.
SEATAC, Wash.-- All Nippon Airways puts a Boeing 787 into daily service Monday on the Tokyo- Seattle route. The flight from Tokyo is scheduled to arrive just before 11 a.m. at Sea-Tac Airport. The airline started the Seattle- Tokyo route in July, using a Boeing 777..
By Gernot Heller and James Regan. BERLIN/ PARIS, Oct 1- Airbus parent EADS and arms group BAE Systems must restructure a $45 billion merger, a top shareholder said, as a government source threatened that Britain would block talks to create the world's biggest defence company unless its demands were met.
*Euro zone slipping into recession, China still slowing. The weak U.S. data followed surveys in the euro zone that showed manufacturing slackened in the three months to September while Asia's factories are continuing to struggle in the face of tepid demand from the United States and Europe.
LONDON, Oct 1- The British government would be prepared to use its' golden share' to veto the proposed $45 billion merger between EADS and BAE Systems if the terms were not right for Britain, a defence ministry source said. Priorities for the British government include jobs and future security for BAE plants in Britain.
*Euro zone slipping into recession, China still slowing. NEW YORK, Oct 1- Wall Street was set to start the last quarter on a higher note on Monday even as data continued to point to a slowdown in global manufacturing. The rise in futures points to a rebound from the S&P 500 index's biggest weekly drop since June.
The rise in futures points to a rebound from the S&P 500 index's biggest weekly drop since June.
PARIS, Oct 1- Lagardere Chief Executive Arnaud Lagardere met with EADS CEO Tom Enders on Monday after the media conglomerate issued a statement calling for a rethink of the planned merger between EADS and BAE Systems.
NEW YORK, Oct 1- U.S. stock index futures rose on Monday at the start of a new quarter before data that could show manufacturing's contraction was slowing. *The final Markit Manufacturing PMI for September is due at 8:58 a.m., and the Institute for Supply Management's September manufacturing index is expected at 10 a.m..
BERLIN, Oct 1- Talks on creating a European aerospace and defence giant through a merger of Airbus parent EADS and Britain's BAE Systems are at risk of failing due to the divergent stances of the governments involved, three German sources said on Monday.
By James Regan PARIS, Oct 1- EADS shareholder Lagardere. told the aerospace group on Monday to review the "unsatisfactory" terms of its planned $45- billion merger with BAE Systems, raising the pressure before a British regulatory deadline next week.
ISTANBUL, Oct 1- Turkey's Pegasus Airlines has started talks about a possible initial public offering in the first quarter of next year but may float less than 25 percent of the company, sources close to the negotiations said on Monday. Pegasus is part of Esas Holding, which is also active in the food, healthcare and retail sectors.