According to Airbus, the world should prepare for a rebound in air travel. The company thinks travel will come back faster than many expect it to, and wants to prepare its own production lines for full capacity sooner rather than later. The Wall Street Journal's Benjamin Katz reports: Airbus said it plans to lift production of its bestselling A320 narrow-body to 64 a month by the second quarter of 2023—topping its 2019 average monthly output of 60. It set out a longer-term ambition of reaching 70 a month at the beginning of 2024. That could rise to 75 in 2025, the company said. At the … [Read more...]
125 Years of the Dow Jones Industrial Average
The Dow Jones Industrial Average has reached 125 years old. The index was created in 1896, and has evolved through Great Depressions, recessions, and booms to take on its current form. Karen Langley and Peter Santilli report in The Wall Street Journal: One hundred twenty-five years ago, the Dow Jones Industrial Average made its debut. The index of 12 smokestack companies closed that first trading day, May 26, 1896, at 40.94. It included General Electric Co. as well as long-forgotten names like American Cotton Oil and Distilling & Cattle Feeding. Since then, the Dow has evolved with … [Read more...]
Despite Disturbing Crash, Tesla Logs Record Earnings
Despite the still unsolved crash of a Tesla, the company's earnings hit record highs in the first quarter of 2021. Rebecca Elliott reports for The Wall Street Journal: Tesla Inc. TSLA -4.26% posted a record quarterly profit despite supply disruptions, fueled by rising deliveries and increasingly broad-based demand for electric vehicles. The Silicon Valley car maker has enjoyed booming sales, driven by both its popular Model Y compact sport-utility vehicle and sustained demand in China. The company also has benefited from the wider embrace of plug-in cars as governments across the world … [Read more...]
Americans Want to Get Moving Around Again
American Express and other card companies are seeing increased interest by Americans in travel and spending on entertainment. Allison Prang reports in The Wall Street Journal: American Express Co. AXP +3.96% is seeing consumer spending start to normalize as Covid-19 vaccinations pick up in the U.S. Spending in travel and entertainment categories rose 40% in March from February and bookings through American Express Travel jumped by 50% in the first quarter compared with the fourth quarter, Chief Financial Officer Jeffrey Campbell said in an interview Friday. Mr. Campbell said the number of … [Read more...]
Amazon Sneaking Up on Google and Facebook Ad Share
Amazon has grown into the third-largest seller of web ad space, sneaking up on Google and Facebook in the race for market share. Alexandra Bruell reports for the WSJ: Amazon. com Inc.’s share of the U.S. digital ad market grew to 10.3% last year from 7.8% in 2019, according to a new report from research firm eMarketer. The report predicts that Amazon will continue to inch up on market leaders Google, part of Alphabet Inc., and Facebook Inc., a sign brands are increasingly turning to the e-commerce giant to help them reach an expanding base of online shoppers. Amazon’s U.S. ad revenue … [Read more...]
Businesses Optimistic As States Ease COVID-19 Restrictions
Businesses in both services and manufacturing industries are growing more optimistic as states remove restrictions meant to help fight the spread of COVID-19. Many of those restrictions made it difficult for businesses to operate. Jeffrey Bartash reports in MarketWatch: The numbers: The large service side of the U.S. economy surged in March as governments lifted businesses restrictions and rising vaccinations gave Americans more confidence to go out and shop, travel or take a vacation. A survey of business leaders at service-oriented firms such as banks, retailers and restaurants jumped to … [Read more...]
Germany Finds AstraZeneca Too Risky for People Under 60
Germany will only recommend people over 60 years old get the AstraZeneca vaccine for COVID-19. Bloomberg's Daniel Schaefer reports: Germany will change its recommendation on AstraZeneca Plc’s Covid-19 vaccine and say it should only be used for women and men older than 60, after new data emerged on potential side effects. The country’s vaccination commission has drafted a recommendation that the shots only be used for older people but leaves open the possibility to administer it to younger people at a doctor’s discretion, according to a person familiar with the document. Chancellor … [Read more...]
Intel Says It’s “Back With a Vengeance”
Intel's CEO Pat Gelsinger explains the company's plans to address the worldwide chip shortage, and its own recent failures, to The Wall Street Journal. Aaron Tilley reports: Intel Corp.’s INTC +0.38% chief executive is fast-tracking efforts to revive the semiconductor giant with a broad plan that mixes increased outsourcing with a commitment to spend $20 billion on new factories that could help address a chip shortage. New CEO Pat Gelsinger said Tuesday that Intel would rely more heavily on third-party chip-making partners, including for some of its most cutting-edge processors, starting … [Read more...]
JNJ’s “One Shot, Shot”
The FDA has approved the use of Johnson & Johnson's COVID-19 vaccine, which unlike its competitors from Pfizer and Moderna can be stored at room temperature and needs only one dose. The WSJ reports: The first single-dose Covid-19 vaccine, a shot from Johnson & Johnson, JNJ +1.55% was authorized for use, a big boost for a mass-vaccination campaign rushing to end the deadliest pandemic in more than a century. The vaccine’s authorization on Saturday, the third issued by the U.S. Food and Drug Administration, will give health authorities a desperately needed new source of doses as they … [Read more...]
Jaguar to Sell Only Electric Vehicles
Jaguar has announced that it will transition to producing only electric vehicles. Nathan Bomey reports in USA Today The Jaguar luxury brand will transition to selling only electric vehicles in another step for the automotive industry away from gasoline. Jaguar Land Rover, a British-based manufacturer owned by Indian automaker Tata Motors, announced Monday that the brand will make the shift beginning in 2025. The company said it also expects 60% of Land Rover sales to be electric vehicles by 2030. The move comes amid gradual advancements in battery technology that are making electric … [Read more...]