Day: December 27, 2016

Airbus to Slow A380 Production in 2017 in Accord With Emirates

Airbus Group SE will put off a dozen deliveries of the A380 plane in the next two years following an agreement with Emirates, its largest customer for the model, as demand continues to fade for the double-decker. Handovers of six A380s apiece that were originally planned for 2017 and 2018 will be shifted to a year later following an agreement with Emirates and engine supplier Rolls-Royce Holdings Plc, the Toulouse, France-based planemaker said Tuesday in an e-mailed statement.

Toshiba Says Nuclear Writedown May Reach Billions of Dollars

The Japanese company, which paid a record fine a year ago for its bookkeeping practices, warned that it may now have to take another charge of several billion dollars related to an acquisition made by U.S. unit Westinghouse Electric. The company’s shares fell 12 percent to 392 yen at the close in Tokyo on Tuesday, the biggest decline since December 2015, after earlier reports that it may book a loss of as much as 500 billion yen .

China Invites Investors, Including Foreigners, Into Space Effort

China is looking to draw private investors, including those from outside the country, into its aerospace program to supplement funding from the government for commercial satellite launches. Investment is welcome for commercial rocket development, satellite research, manufacturing and for applying aerospace technologies to public welfare, Wu Yanhua, vice minister of China National Space Administration, said at a press briefing in Beijing on Tuesday.

Monte Dei Paschi Needs $9.2 Billion to Avert Potential Shortfall

Troubled Italian lender Monte dei Paschi says a potential capital shortfall identified by the European Central Bank has widened to 8.8 billion . Troubled Italian lender Monte dei Paschi remains solvent, a requirement for a government bailout under European Union rules, but its potential capital shortfall has widened to a 8.8 billion .

ECB Says Paschi Needs $9.2 Billion of Capital, More Than Target

The European Central Bank said Banca Monte dei Paschi di Siena SpA needs about 8.8 billion euros to bolster its balance sheet, almost twice the amount the Italian lender had sought to raise in a failed capital increase. The calculation is based on the results of a 2016 stress test, the Italian bank said in a statement late Monday, citing two letters from the ECB.

Market Recon: You Can’t Put Your Head in the Sand

Going forward, investors will have to measure the extent that the President-Elect’s proposed policy shifts have pulled forward into 2016, the gains that otherwise might have been realized in 2017. Measure against what, exactly? Currently, the S&P 500 is trading at more than 22x 12 month trailing earnings.

UnitedHealth Is on the Sidelines

Year to date, shares of UnitedHealth are up 39% after the stock rallied on the back of a Trump victory. After the election, the stock rallied sharply as investors piled into the stock anticipating the end of Obamacare and major tax reform.

Rev’s Forum: Holiday Trading Is a Tendency, Not a Certainty

” A Santa Claus rally is a surge in the price of stocks that often occurs in the week between Christmas and New Year’s Day. There are numerous explanations for the Santa Claus Rally phenomenon, including tax considerations, happiness around Wall Street, people investing their Christmas bonuses and the fact that the pessimists are usually on vacation this week”.

3 Tax Scams to Watch Out For in 2017

Tax season is right around the corner and, unfortunately, a surge in tax scams is likely to come with it. Tax scams can take many different forms, but most tax scams fall under three major categories: fraudulent returns, phone scams, and phishing.

3 Precision Medicine Stocks to Buy in January

The National Institutes of Health defines precision medicine as “an emerging approach for disease treatment and prevention that takes into account individual variability in genes, environment, and lifestyle for each person.” For several companies, this approach is already a reality — and it has created opportunities for investors.

Toshiba Says Nuclear Unit Faces Billions of Dollars in Charges

Toshiba Corp. warned that it may book a writedown of several billion dollars related to an acquisition made by U.S. unit Westinghouse Electric. The company’s shares fell 12 percent to 392 yen at the close in Tokyo on Tuesday, the biggest decline since December 2015, after earlier reports that it may book a loss of as much as 500 billion yen .

Monte Paschi Says ECB Sees the Need for $9.2 Billion of Capital

The European Central Bank sees Italian lender Banca Monte dei Paschi di Siena SpA needing about 8.8 billion euros of capital to bolster its balance sheet. The calculation is based on the results of a 2016 stress test, the bank said in a statement late Monday, citing two letters from the ECB that it received via Italy’s Finance Ministry.

China Promotes Yin Yong to Deputy Governor of Central Bank

China promoted Yin Yong to deputy governor of the central bank from assistant governor and named Liu Guoqiang as an assistant governor of the monetary authority. People’s Bank of China Deputy Governor Guo Qingping and assistant governor Yang Ziqiang will step down, according to a statement released Tuesday on the State Council’s website without giving further details.

Cell service at Rainier: Do you want to hear me now?

In this photo taken Friday, Dec. 16, 2016, Mount Rainier fills the sky behind as a group of snowshoers head out of the Paradise area for an outing at Mount Rainier National Park, Wash. Spotty or no cellular service has been the norm at the nation’s … fifth oldest park south of Seattle, but that could change soon.

China Vows to Protect Information Security – Using All Means’

China will use all necessary means to protect its information security, including the use of its military, striking a hard line in the country’s first strategic report on cybersecurity. Zhao Zeliang, director general of the bureau of cybersecurity for the Cyberspace Administration of China, called for a “secure and controllable” internet at a briefing in Beijing on Tuesday.

India Tests Long-Range, Ballistic Nuclear-Capable Missile

India successfully test-fired its longest range nuclear-capable missile, confirming its status in the select group of nations with weapons that can travel from one continent to another. Agni-V, with a range of more than 5,000 kilometers , completed its final firing test at the Defence Research and Development Organization’s range on Dr. Abdul Kalam Island off the coast of the eastern state of Odisha on Monday.

Mall fights send post-holiday shoppers scrambling for exits

Memphis police officers block off the entrances to the Oak Court Mall on Monday, Dec. 26, 2016, after a disturbance at the mall in Memphis, Tenn. Authorities and witnesses say there have been disturbances at two malls in Memphis and one of them had … No one was seriously injured in the mall melees Monday night, which during the panic, also prompted numerous false reports of gunfire.

Election system susceptible to rigging despite red flags

In this Oct. 14, 2016 photo, a technician works to prepare voting machines to be used in the upcoming election in Philadelphia. These paperless digital voting machines, used by roughly one in five U.S. voters last month, present one of the most … glaring dangers to the security of the rickety, underfunded U.S. election system.

Shale Specter Haunts OPEC as Oil Seen Rallying Into 2017

After pulling off the biggest oil-market deal in a decade, OPEC faces a new balancing act in 2017: boosting prices without igniting shale. The first shale boom spurred a global supply glut that started prices sliding in mid-2014, and was amplified that November by a pump-at-will OPEC strategy aimed at market dominance.

Trump Takes Credit for Holiday Spending, Swipes at Obama, U.N. in Post-Christmas Tweets

While much of the U.S. and the markets enjoyed a post-holiday break on Monday, President-elect Donald J. Trump used his favorite means of communication, Twitter, to take credit for the stock market bounce and holiday sales and to wag his finger at the United Nations and President Barack Obama. In a tweet, Trump claimed “there was no hope” before he won the election in November, and that now the market has jumped 10% and Christmas spending is over $1 trillion.