Boeing attracts bids for 50 of its embattled 737 Max jets at Dubai Air Show - CNBC

An aerial photo shows Boeing 737 MAX aircraft at Boeing facilities at the Grant County International Airport in Moses Lake, Washington, September 16, 2019.

Lindsey Wasson | Reuters

DUBAI, United Arab Emirates — Boeing managed to reach day three of the Dubai Air Show with bids for 50 of its embattled 737 Max jets, a day after getting a firm order for 10 of the jets from leisure airline SunExpress.

Kazakhstan carrier Air Astana announced Tuesday a letter of intent for 30 of the Max jets, which have been grounded globally since March following two devastating crashes in the span of five months that killed 346 people.

The bid, which comes on top of a reported firm order from a mystery buyer for 20 of the Max jets, represents a vote of confidence for a plane whose dangerous defects triggered the largest crisis in the aviation industry this year.

Air Astana's commitment, valued at $3.6 billion, is not a firm order, and all of the deals of the last week remain subject to the aircraft receiving regulatory approval to return to service. The Kazakh airline is also a customer of Boeing's French rival Airbus, which has raked in massive deals this week and so far overshadowing those of the American plane-maker.

The Wall Street Journal on Tuesday reported 10 orders for Boeing's 737 MAX 7 and 10 for its 737 MAX 10 from an undisclosed buyer, citing people familiar with the matter.

Tuesday's news follows an increased order for the Max 737 8 jets from Turkey-based airline SunExpress, which added a firm order for 10 of the planes, worth $1.2 billion at list prices, in addition to a previous order of 32. A steep discount is typically negotiated by airlines.

The announcements mark a win for Boeing, but its total of $5.6 billion in orders so far pales in comparison to the tally of Airbus, which has so far inked around $30 billion in orders at list prices. Europe's largest aerospace company on Monday won orders for 120 of its A320neo jets from Air Arabia and 50 of its A350s from Dubai flagship carrier Emirates, valued at approximately $14 billion and $16 billion, respectively.

Ahead of the confirmation of its Airbus order, Air Arabia was reportedly in talks with Boeing as recently as two weeks before the show.

The Dubai Air Show, known for record-breaking mega deals, typically sees fierce competition for deals from rivals Airbus and Boeing, who each own approximately half of the market for large commercial airliners. But the American plane-maker's presence has been subdued thus far, weighed down by the crashes, ensuing safety concerns and the grounding of its fleet of roughly 400 jets around the world.

The aerospace giant has struggled this year, with new orders all but drying up as a result. British Airways parent, International Consolidated Airline Group, said during the Paris Air Show in June that it intends to buy 200 of the 737 Max planes, but that order has not been firmed up.

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2019-11-19 09:16:00Z
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Sales of grounded Boeing 737 MAX pick up steam at Dubai Airshow - Reuters

DUBAI (Reuters) - Boeing’s 737 MAX took center stage at the Dubai Airshow on Tuesday as the U.S. planemaker prepared to announce orders for dozens of aircraft as it seeks to restore confidence in the jet amid a worldwide grounding, people familiar with the matter said.

FILE PHOTO: An aerial photo shows Boeing 737 MAX aircraft at Boeing facilities at the Grant County International Airport in Moses Lake, Washington, September 16, 2019. REUTERS/Lindsey Wasson /File Photo

Boeing was expected to announce the orders, which could be worth $5-6 billion, a day after securing the first firm order for the aircraft since the grounding from Turkey’s SunExpress.

Global regulators banned commercial flights of Boeing’s fastest-selling jet in March after two fatal accidents.

Boeing is in the process of modifying software and pilot training which will require regulatory approvals.

In other news, budget airline easyJet exercised the purchase rights to order 12 more Airbus A320neo aircraft, Airbus said on Tuesday.

Airbus is also prepared to unveil an order for 8 of its small A220 jets from Air Senegal, delegates said.

Also coinciding with the show, leasing giant GECAS was expected to confirm an order for 25 Airbus jets including 12 A330neo powered by engines from Rolls-Royce, a competitor to GECAS parent company General Electric.

However, there were no immediate signs that Dubai’s Emirates was ready to finalize a provisional order for 40 Boeing 787 Dreamliners, part of a complex set of interlocking deals driving fleet changes at the world’s largest international airline.

The fate of the order hinges on negotiations over the larger Boeing 777X for which Emirates is the largest customer. Emirates has indicted it wants to restructure the order following delays and sources say it could use the pending 787 deal as leverage.

(This story has been refiled to add missing word “said”, paragraph 1)

Reporting by Tim Hepher; editing by Shri Navaratnam and Jason Neely

Our Standards:The Thomson Reuters Trust Principles.

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2019-11-19 06:19:00Z
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At LA Auto Show, Ford releases new electric Mustang Mach-E - an SUV - KABC-TV

LOS ANGELES (KABC) -- The first big reveal of the L.A. Auto Show is a new Mustang.

Specifically, the 2021 Mustang Mach-E. If that name sounds familiar, it's because it's a play on Mach 1 which was Ford's force to be reckoned with starting in the Mustang's original heyday in the 1960s.

Now, in a very different world, the Mach-E. It has four doors, an SUV shape, and it's pure electric.

"One thing that people thought about electrics is that they were a rational buy. That's really not true. If we've learned one thing about this first generation of electric cars is that early adopters want really good product," said Jim Farley

Ford might not be the first to the modern electric car party, but they rolled out the Mach E in a big way, at a Hawthorne Airport hangar.

It may or may not have been a coincidence, but the electric Mustang's big reveal took place just yards from Elon Musk's huge local complex, where the name "Tesla" can be seen in giant letters by drivers on the nearby 105 Freeway.

The Mach-E's early stats seem impressive. Depending on model, there will 200 to 300 miles of driving range. The vehicle will also feature advanced connectivity, a wide public charging network, and a starting price in the mid-$40,000 range before any incentives are subtracted.

So is this the right direction for the Mustang?

"When you think about a coupe, that's not going to work for everyone. Now that it's an EV SUV, I think in a market like Los Angeles, all of a sudden they may see some new customers," said Jessica Caldwell, an insights analyst with Edmunds.com.

Ford wants to make it clear, the Mach-E will be a Mustang, not the Mustang. They have no plans to stop making the internal combustion two-door that's so loved.

"No, I think that's what's cool about this car. If anything it preserves them, because we have this totally clean one as well," noted Ford's Jim Farley.

They're taking orders right now, for delivery by the end of 2020.

And if you go to the L.A. Auto Show to see the new electric Mustang, here's something to put things in perspective. The L.A. Convention Center opened in 1971, and the auto show has been held there ever since.

Back in those early days, the hottest car in the Ford display was the Mustang Mach 1. Nearly 50 years later, in that same building now called West Hall, Ford's display will include the Mustang Mach-E. A very different kind of car, in every way.

Copyright © 2019 KABC-TV. All Rights Reserved.

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2019-11-19 04:09:37Z
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Stocks on track to build on records as investors remain optimistic on U.S.-China trade talks - MarketWatch

Stock-index futures pointed to a higher start for Wall Street on Monday, with equities set to build on last week’s push to records as investors remain optimistic over U.S.-China trade talks.

How are the major benchmarks doing?

Futures on the Dow Jones Industrial Average YMZ19, +0.04%  rose 92 points, or 0.3%, to 28,045, while S&P 500 futures ESZ19, -0.03%  gained 6.95 points, or 0.2%, to 3,124.25. Nasdaq-100 futures were up 26.75 points, or 0.3%, at 8,345.50.

Read: With Dow, S&P 500 at records, investors ignore ‘material deterioration’ in global economy

The Dow DJIA, +0.80%  last week rose 1.2%, ending Friday at 28,004.89 topping the 28,000 milestone for the first time as it posted its 11th record close of 2019. The S&P 500 SPX, +0.95% logged a 0.9% weekly rise, also setting a record Friday with a finish at 3,120.46. The Nasdaq Composite COMP, +0.73%  also posted an all-time closing high Friday, capping a 0.8% weekly gain with a finish at 8,540.83.

See: Why Dow 28,000 could mark that ‘blowoff top’ bears have been predicting

What’s driving the market?

Analysts said optimism over U.S.-China trade talks remain a pillar of support for equities. Chinese state media outlet Xinhua over the weekend said Chinese Vice Premier Liu He, the country’s top trade negotiator, held a phone conversation with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Saturday, describing the discussions as “constructive.”

The Trump administration is likely to issue Monday a 90-day extension of a license allowing U.S. companies to continue doing business with Chinese telecom giant Huawei Technologies Co., Reuters reported Sunday night. Huawei was added to a federal list of restricted entities earlier the year, which are suspected as working against U.S. national security interests, and its status has been seen as a key issue in trade negotiations.

Meanwhile, China’s central bank on Monday lowered the interest rate on its regular reverse repurchase open market operations for the first time since October 2015 in an effort to boost market confidence and buoy slowing growth.

“If China wants to ease the short-term economic pain, lower tariffs via a phase one trade deal would go a long way,” said Jasper Lawler, head of research at London Capital Group, in a note.

“Optimism that a partial trade deal can be done largely explains the rally in U.S. equities that took the Dow Jones to 28,000 for the first-time last week,” he said. “‘Constructive’” discussions in a phone call between the two sides over the weekend continues the positive mood music about a phase one deal.”

Analysts said they were also keeping an eye on Hong Kong, as protests continued and police stormed a university campus after an all-night siege.

The economic calendar is light, featuring a home-builder index for November at 10 a.m. Eastern Time.

Which stocks are in focus?

Shares of Boeing Co. BA, +1.15%  edged 0.9% higher in premarket action after it announced that SunExpress exercised options for 10 additional 737 MAX 8 aircraft, with a value of $1.2 billion, according to list prices. The order adds to the previous 32 MAX planes ordered by SunExpress.

Shares of Ford Motor Co. F, +1.82%  were up 1.2% in premarket trade after the auto maker announced Sunday its “Mustang Mach E,” it’s first all-electric SUV.

HP Inc. HPQ, +0.25%  rejected a $33.5 billion takeover offer from Xerox Holdings Corp. XRX, +0.75%  Sunday, saying the cash-and-stock offer undervalues the company, but said it remains open to exploring other options for consolidation.

On Sunday, Saudi Aramco said it would aim for a valuation of $1.6 trillion to $1.7 trillion from the planned initial public offering of the state-owned energy giant, falling well short of the initial $2 trillion targeted by Saudi Crown Prince Mohammed bin Salman. That would still make the oil giant’s trading debut the world’s biggest ever IPO by valuation.

How are other markets trading?

The yield on the 10-year U.S. Treasury note TMUBMUSD10Y, -0.38%  rose 1.8 basis points to trade at 1.853% after falling 9.7 basis points during the previous five trading days amid mixed global economic data.

In commodities markets, a barrel of West Texas Intermediate crude for December delivery CLZ19, -0.71%  fell 16 cents, or 0.3% to trade at $57.56 and the price of gold for December delivery GCZ19, -0.25%  fell $9, or 0.6%, to $1459.30 an ounce.

The U.S. dollar edged about 0.1% lower relative to a basket of its trading rivals, according to the ICE U.S. Dollar index DXY, -0.10%.

In Asia overnight, stocks traded higher, with the China CSI 300 000300, +0.80%  gaining 0.8%, Japan’s Nikkei 225 NIK, +0.49%  advancing 0.5% and Hong Kong’s Hang Seng HSI, +1.35%  limbing 1.4%.

In Europe, stocks were mixed; the Stoxx Europe 600 SXXP, -0.15%  was up 0.2%.

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2019-11-18 12:16:00Z
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Ford is chasing Tesla with an electric Mustang SUV - The Verge

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2019-11-18 12:36:12Z
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The Morning After: Google Stadia's launch game line-up gets a big boost - Engadget

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Hey, good morning! We kick off the week with the launch of Google's much-publicized Stadia streaming game service tomorrow, with the company fleshing out the launch line-up with an extra 10 games -- although none of them are particularly new, and none are exclusive. It's an interesting week to launch something that could be the future of gaming: This is the same week Nintendo launches the Wii, SNES and the DS. And the same week Microsoft's Xbox One and Xbox 360, the Sega Saturn and, er, the Atari Jaguar all launch, too. Will Google's Stadia join such illustrious company?

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The new list includes 'Metro Exodus,' 'NBA 2K20' and 'Football Manager 2020'.Google Stadia's launch line-up gets a 10-game boost

After announcing its cloud-streaming Stadia game service would launch with just 12 titles, Google has nearly doubled that number, a mere day ahead of launch. The service will now arrive with 10 additional games, bringing the total to 22. That'll include Football Manager 2020 and NBA 2K2020, giving Stadia a couple of the sports titles it was completely lacking before. In comparison, Microsoft is launching its xCloud preview with well over 50 titles.

The full, updated line-up is right here.

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But is it an actual Mustang?
Ford's Mustang Mach-E straddles the world of EVs, SUVs and muscle cars

Ford's new electric vehicle is the Mustang Mach-E -- but it's not entirely a Mustang. It's more like a crossover with hints of Mustang design. Ford seems to have a version of the Mach-E for every type of driver. It'll be available in five trim models starting at $43,895 and will roll into showrooms in late 2020. The First Edition (270-mile range at $59,900), Premium (300 miles at $50,600) and GT (235 miles at $60,500) showing up on the road first. The California Route (300 miles at $52,400) and Select (230 miles at $43,895) will both land in early 2021.

Ford famously announced it would stop selling cars in the United States -- except for the Mustang, which continues to be a hit for the automaker. The result is Ford's first big EV -- an SUV with a Mustang badge. Read on for Roberto Baldwin's report.

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This may be more about winning tariff exemptions than anything else.
President Trump will visit Apple's Mac Pro factory on November 20th

The White House has confirmed that President Trump will visit Apple's Mac Pro factory in Austin, Texas, on November 20th, backing up rumors of an impending tour. It's not clear if Tim Cook or other Apple executives will be present, but it wouldn't be surprising given the optics. Apple wants to be seen as having the Trump administration's support, while Trump wants to be seen supporting American jobs.

For Apple, though, there's an extra level of urgency. The next big round of US tariffs on China is poised to take effect on December 15th, and it could easily raise the cost of selling phones, laptops, monitors and other mainstays of Apple's product lineup.

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It's trying to reduce dissent by silencing communication.
Iran shuts down nearly all internet access in response to fuel protests

The Iranian government has shut down nearly all internet access in the country amid mounting protests that began over a 50-percent hike in fuel prices and now encompass wider dissent. There are pockets of access that have let people show what's happening on the ground, but they're rare. Phone calls abroad still work, but those are also closely monitored. The government hasn't formally acknowledged the internet shutdown.

But wait, there's more...

• HP rejects Xerox buyout offer, at least for now
• mTiny robot review: Screen-free coding for kids
• Stanford's new tech-laden hospital includes pill-picking robots

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The Morning After is a new daily newsletter from Engadget designed to help you fight off FOMO. Who knows what you'll miss if you don't Subscribe.

Craving even more? Like us on Facebook or Follow us on Twitter.

Have a suggestion on how we can improve The Morning After? Send us a note.

In this article: entertainment, gear, internet, stadia, themorningafter

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.

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2019-11-18 11:45:39Z
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Emirates orders 50 Airbus A350 jets worth a total $16 billion - CNBC

An Airbus A380-800 passenger plane of the Emirates Airlines at Moscow's Domodedovo Airport.

Mikhail Tereshchenko | TASS | Getty Images

DUBAI, United Arab Emirates — Emirates has ordered 50 Airbus A350 jets, the Dubai state-owned airline announced at the Dubai Air Show on Monday.

The order's list price sits at $16 billion, but a steep discount is typically negotiated by airlines. The deal was originally slated to see Emirates order 70 planes from the French manufacturer — 40 of the A350s and 30 A330-900neo jets — but all A330 orders were scrapped in favor of bringing the A350 order size to 50.

Airbus CEO Guillaume Faury told a press conference that the European multinational planemaker's flagship A380 would now have a "younger but very talented brother in the Emirates family."

The A350 is a family of long-range, twin-engine wide-body jet airliners, while the A380 is the world's largest passenger airliner. The 50 jets ordered by Emirates are its cornerstone A350-900 variety, accommodating between 300 and 350 passengers.

"Complementing our A380s and 777s, the A350s will give us added operational flexibility in terms of capacity, range and deployment," Emirates Chairman and Chief Executive Sheikh Ahmed bin Saeed Al Maktoum told press. "In effect, we are strengthening our business model to provide efficient and comfortable air transport services to, and through, our Dubai hub."

The announcement of the order comes after an underwhelming first day for the Middle East's flagship aerospace expo, with only two jets sold on Sunday.

The Emirates CEO declined to discuss the reasons behind the company's A330 order cancellation, saying only, "For anybody touching on the A330, that is not part of the discussion today."

The A330-900 is a slightly thinner variant of the A350-900, carrying less passengers and with a slightly slower cruising speed. The A350 is more expensive but lighter, meaning less fuel costs and more savings over time, aviation analysts say.

Emirates is the number one buyer of Airbus' iconic A380, the world's largest airliner, but its cutback on orders of the jumbo jet early this year led the French manufacturer to announce it would scrap its production. Aviation analysts called it the "end of an era," as the industry's symbol of excess and luxury flight was sidelined for smaller, more fuel-efficient planes now increasingly preferred by airliners.

Asked if a reversal of the decision was possible and the jet's production might be continued, Faury replied, "The decision is in implementation now, we love the A380 at Airbus, it is a great plane and will continue to fly for decades, we are committed to supporting it. But no, the decision that was taken to cease production is not reversed."

The last A380 will be delivered in 2021.

Airbus Chief Corporate Officer Christian Scherer told CNBC on Sunday that the A380 was by no means finished, however, as the company turns to the secondhand market to keep the jet in use. Scherer described the A380 as having "many, many profitable years" to come.

The Dubai Air Show, known for record-breaking mega deals, is expected to see fierce competition for deals from rivals Airbus and Boeing, who each own approximately half of the market for large commercial airliners. But the American planemaker's presence has been subdued thus far, weighed down by Boeing's two catastrophic 737 Max jet crashes in a span of five months, which killed a combined 346 people.

Boeing's fleet of some 400 737 Max jets has been grounded since March, denting airlines' profits, forcing carriers to cancel thousands of flights and pushing up costs. On the air show's first day, the manufacturer announced a sale of two of its 787-9 Dreamliner jets to Biman Bangladesh Airlines, valued at $585 million at list prices.

Asked on Sunday if the 737 Max's grounding benefited Airbus, Scherer forcefully rejected the notion, telling CNBC: "This does not benefit anyone in this industry, the least of which would be Airbus... it is not good for competitors to see problems on any one particular airplane type."

At the start of the last Dubai Airshow in 2017, Boeing kicked off the event by clinching a major sale of 40 787-10 jets to Emirates Airline at a value of $15.1 billion.

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2019-11-18 09:29:00Z
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