Trade
Boeing lost $1.1 billion on Trump Air Force One contract; CEO regrets deal
Boeing disclosed Wednesday that it has lost a whopping $1.1 billion in costs related to its deal with the Trump administration to modify two 747 jumbo jets to serve as Air Force One — and CEO Dave Calhoun admitted the aviation giant “probably” should not have cut the deal in the first place. Even more […]
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Boeing misses estimates as it grapples with delays on commercial, defense programs
A Boeing Co. Dreamliner 787 plane with AirEuropa livery moves past the company’s final assembly facility in North Charleston, South Carolina, U.S., on Tuesday, Dec. 6, 2016. Travis Dove | Bloomberg | Getty Images Boeing reported a wider adjusted loss and lower revenue than analysts expected as the company faced higher costs on both commercial […]
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Britain and India aim for free trade deal by October, says Johnson
British Prime Minister Boris Johnson walks with his Indian counterpart Narendra Modi before their meeting at the Hyderabad House on April 22, 2022 in New Delhi, India. Wpa Pool | Getty Images News | Getty Images Britain and India agreed on Friday to step up defense and business cooperation during a visit to New Delhi […]
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IMF says any loan to Sri Lanka requires debt sustainability
A woman walks past the International Monetary Fund headquarters building in Washington, DC on March 11, 2022. The IMF said discussions with Sri Lanka on a potential IMF loan program are at an early stage and any deal would require “adequate assurances” that the island country’s debts can be put on a sustainable path. Mandel […]
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Container shipping could rebound by late April as Covid eases in China, shipping investment firm exec says
The container shipping industry could see a “very strong” pickup starting late April as the Covid situation in China eases, Tim Huxley, founder of Mandarin Shipping, told CNBC’s “Street Signs Asia” on Monday. Shanghai has been on lockdown since last month because of a rise in Covid-19 cases. The city, also home to the world’s […]
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Sri Lanka’s reluctance to tap IMF helped push it into an economic abyss
Protesters in Colombo on Easter, April 17, 2022. The Rajapaksa government has leaned heavily on its foreign exchange reserves, eroding them by more than 70% in two years. Jewel Samad | AFP | Getty Images Sri Lanka’s worst economic crisis has triggered an unprecedented wave of spontaneous protests as the island nation of 22 million […]
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White House will crack down on Russian attempts to evade sanctions, Biden security advisor says
Jake Sullivan, White House national security adviser, speaks during an interview at an Economic Club of Washington event in Washington, D.C., U.S., on Thursday, April 14, 2022. Al Drago | Bloomberg | Getty Images WASHINGTON — National security adviser Jake Sullivan said Thursday that the Biden administration is focused on ensuring Russia isn’t able to […]
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Texas keeping most truck inspections despite border gridlock
Truckers returning from the United States wait near their trailers while stranded at a protest, by Mexican truck drivers blocking the Zaragoza-Ysleta International Bridge connecting the city of Ciudad Juarez to El Paso, Texas, against truck inspections imposed by Texas Governor Greg Abbott, in Ciudad Juarez, Mexico April 11, 2022. Jose Luis Gonzalez | Reuters […]
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China’s lockdowns could trigger a logistics snarl that may ‘dwarf’ 2020 and 2021
A traffic police officer prepares to check a truck at a service station of G1503 Shanghai Ring Expressway on April 11, 2022 in Shanghai, China. The major Chinese city has been among the hardest hit as China battles its most severe Covid outbreak since the early days of the pandemic in 2020. Yin Liqin | […]
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Reversing globalization could cause pain and profit for companies
Russia’s invasion of Ukraine has fast forwarded a shift away from globalization, and that will create challenges and opportunities for businesses and investors. Source
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