Business

U.S. factory orders unexpectedly rise in September

New orders for U.S.-made goods unexpectedly rose in September, though manufacturing remains constrained by input shortages. The Commerce Department said on Wednesday that factory orders increased 0.2% in September. Data for August was revised down to show orders rising 1.0% instead of 1.2% as previously reported. Economists polled by Reuters had forecast factory orders unchanged. […]

Business

Airbus sees airlifter sales, warns on European drone autonomy

Airbus’s (AIR.PA) new defence chief pointed on Wednesday to more sales of military transporters after deals in Kazakhstan and India and reaffirmed support for a new European fighter. “I am confident that there will be more good news this year in terms of (transporter) business wins,” Michael Schoellhorn, chief executive of Airbus Defence & Space, […]

Business

Colombia’s Avianca to move domicile to the United Kingdom

The Southern District of New York has approved Colombian airliner Avianca’s (AVT_p.CN) reorganization plan, Avianca said on Tuesday, which will allow the company to complete its Chapter 11 bankruptcy process before the end of the year. Avianca, along with rival Chile’s LATAM Airlines, were the two largest carriers in the region before the coronavirus pandemic, […]

Business

Clothes retailer OVS to run all 11 Gap stores in Italy

Italian clothing retailer OVS (OVS.MI) has agreed with Gap Inc (GPS.N) to take over and run all 11 stores the U.S. apparel group has in Italy, adding that it plans to expand the network to 20 in a few years. The deal follows Gap’s strategic review last year of its European business to cut costs, […]

Business

Vietnam’s Bamboo Airways signs 1.73 bln euro supply deal with GE, Safran JV

Vietnam’s Bamboo Airways on Wednesday signed a memorandum of understanding with a joint venture between General Electric (GE.N) and Safran SA (SAF.PA) for the purchase of aircraft engines and equipment worth up to 1.73 billion euros ($2 billion). The joint venture, CFM International, will supply LEAP-1A engines and equipment for Bamboo Airways’ fleets of Airbus […]

Business

Chesapeake Energy boosts 2021 oil output guidance by 1 mln barrels

U.S. shale producer Chesapeake Energy Corp (CHK.O) on Wednesday said it was increasing its 2021 total oil production forecast to between 24.5 million and 26.5 million barrels, a jump of 1 million barrels from earlier guidance. The uptick in output is largely the result of lower base production declines, the company said. It expects to […]