FORT WORTH, Texas/ MONTREAL, May 22- The acting head of the Federal Aviation Administration said on Wednesday he does not have a specific timetable to approve Boeing Co's 737 MAX for flight after two fatal crashes since October prompted the plane to be grounded worldwide. The FAA is meeting with more than 30 international air regulators including China, the...
May 22- An investor group that collectively holds about 25% in Texas Pacific Land Trust said their nominee, Eric Oliver, was elected as a trustee at a special shareholder meeting, the validity of which was not recognized by the company. Oliver is the nominee of SoftVest LP, Horizon Kinetics LLC and ART-FGT Family Partners and is competing with trust nominee...
CARACAS, May 22- The United States should help Venezuela keep control over U.S. refiner Citgo by preventing its seizure by creditors seeking to collect on unpaid Venezuelan debts, opposition leader Juan Guaido said in an interview with Reuters on Wednesday. Venezuela's opposition is pushing to remove President Nicolas Maduro amid a catastrophic economic...
WASHINGTON, May 22- Rare earth elements are used in a wide range of consumer products, from iPhones to electric car motors, as well as military jet engines, satellites and lasers. Rising tensions between the United States and China have sparked concerns that Beijing could use its dominant position as a supplier of rare earths for leverage in the trade war between...
May 22- A Silicon Valley chip startup has accused a top executive of China's Huawei Technologies Co Ltd, Deputy Chairman Eric Xu, of participating in a conspiracy to steal its trade secrets, the Wall Street Journal reported https://www.wsj.com/articles/huawei-executive-is-accused-of-involvement-in-trade- s e c r e t s- t h e f t- u- s- s t a r t u p- s a i d- i n- c o u r t- f i l i n...
May 22- Cotton prices extended losses on Wednesday as China and the United States battled tit-for-tat in their long-drawn trade tiff and as favorable planting weather in parts of Texas promised larger crop harvests. Secondly, the 2019 crop is going to a very normal historic pace, "said Keith Brown, principal at cotton brokers Keith Brown and Co in Moultrie,...
DUBAI/ NEW YORK, May 22- Saudi Aramco signed a 20- year agreement to buy liquefied natural gas from a forthcoming export terminal in Texas that U.S.-based Sempra Energy is developing, the two companies said on Wednesday. Aramco has been developing its own gas resources and eyeing gas assets in the United States, Russia, Australia and Africa. Aramco will also buy a...
BOGOTA, May 22- Colombia's state-run oil company Ecopetrol said on Wednesday its crude exports to the United States rose nearly 25% in the first quarter because of lower supply from neighboring Venezuela and higher production. Colombia is among the top 10 suppliers of crude to the United States. "The main reasons for the good performance of crude oil exports to...
CHICAGO, May 22- United Airlines Chief Executive Oscar Munoz promised on Wednesday to reaccommodate any passengers concerned about flying Boeing Co's 737 MAX jets once regulators deem the aircraft safe to fly again. Boeing's newest narrowbody model was grounded worldwide in March following a deadly Ethiopian Airlines crash just months after a similar...
LONDON, May 22- Major British-based chip designer ARM is suspending business with China's Huawei to comply with U.S. regulations, the BBC reported on Wednesday, citing internal company documents. ARM instructed employees to halt "all active contracts, support entitlements, and any pending engagements" with Huawei and its subsidiaries, the BBC said.
*China was first country to ground 737 MAX after Ethiopia crash. *Global aviation regulators to meet in Dallas on Thursday. The triple compensation requests come at a sensitive time in Sino-U.S. relations, with a string of tit-for-tat import tariffs culminating in Washington accusing Beijing of backtracking on almost all aspects of a proposed trade deal.
*China was first country to ground 737 MAX after Ethiopia crash. The compensation requests come as the U.S. Federal Aviation Administration hosts global regulators in Dallas on Thursday to review 737 MAX software and training proposals from Boeing before deciding whether and when to end the two-month grounding. The International Air Transport Association...
JACKSON, Wyoming May 21- A U.S. oil producer is teaming up with a company working to grab planet-warming carbon dioxide straight from the air in a bid to extract more oil from the ground in a greener way, the companies said on Tuesday. Occidental Petroleum is partnering with Canada- based Carbon Engineering to build a new multi-million-dollar direct air capture...
HOUSTON, May 21- Pioneer Natural Resources Co is moving about 200,000 barrels per day of crude from the Permian basin to the U.S. Gulf Coast, with about 80 percent of that loaded on ships for export, Chief Financial Officer Rich Dealy said on Tuesday. The percentage of volumes being exported is expected to grow over time, Dealy told Reuters on the sidelines of the RBN...
May 21- Pioneer Natural Resources Co, one of the largest producers in the Permian Basin of West Texas and New Mexico, announced on Tuesday that it had cut about a quarter of its workforce to save costs and boost shareholder value. Irving, Texas- based Pioneer laid off 230 employees this week at its headquarters and in its Permian Basin offices, and cut another 300...
CHICAGO, May 21- April, typically a big revenue month for U.S. states that levy personal income taxes, was especially robust this year, making up for subpar collections in prior months, but analysts cautioned the tax surge underscores how state budgets face greater volatility from federal tax law changes and the stock market. In California, where personal income...
Chief Executive Jill Soltau, on an earnings conference call, warned investors that Penney would likely take a further hit if U.S. President Donald Trump imposed additional tariffs on another $300 billion worth of imports from China. Washington's escalation of a 10- month trade war with Beijing by raising levies on $200 billion of Chinese goods had a minimal...
The Plano, Texas- based company has shut hundreds of stores over the years and revamped its locations to boost sales and revive profits. The company's net loss nearly doubled to $154 million, or 48 cents per share, in the three months ended May 4. Excluding one-time items, the company lost 46 cents a share, more than the 38- cent loss analysts had expected.
The Plano, Texas- based company said sales at stores open for at least 12 months fell 5.5% in the first quarter, marking its sixth straight quarterly drop. The company's net loss nearly doubled to $154 million, or 48 cents per share, in the three months ended May 4. Excluding one-time items, the company posted a loss of 46 cents per share, bigger than the 38 cent loss...
Penney Co Inc reported a steeper-than-expected drop in quarterly comparable-store sales on Tuesday, hit by the exit from selling major appliances and in-store furniture categories, sending its shares down 10% in early trading. The Plano, Texas- based company said sales at stores open for at least 12 months fell 5.5% in the first quarter, bigger than analysts'...
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