Month: October 2019

Bombardier on Monday unveiled its revamped Liberty Learjet 75 corporate plane, betting that extra legroom and a lower price tag would help the Canadian company beat back competition from Embraer SA’s market leading model. Bombardier and Embraer are both turning to their corporate jet divisions for growth after shedding control of their commercial aviation programs. “It’s more space, and more performance (than competitors) with similar cost and operating cost,” Mischa Loeffler, manager for product planning at Bombardier Aviation told Reuters at Monday’s unveiling of a mock-up model of the plane for the news media. …read more […]

NEW YORK/HOUSTON (Reuters) – UBS Group AG and the energy arm of Piper Jaffray Companies have cut staff in their oil and gas investment banking teams, three people familiar with the matter said on Monday, as U.S. dealmaking continues to dry up. Mergers and acquisitions activity within the shale business is at its lowest level in a decade, excluding Occidental Petroleum Corp’s purchase of Anadarko Petroleum Corp, as shareholders squeeze producers to focus on returns and develop existing acreage rather than expansion. The decline has left investment bankers that advise on such transactions without enough work. …read more […]

Boeing’s stock extended its slide following revelations about internal concern over a flight system tied to two deadly crashes of its 737 Max jetliner. Credit Suisse and UBS downgraded their ratings on Boeing’s stock on Monday. Analysts cited Friday’s disclosures that a senior Boeing pilot struggled while testing a new flight-control system called MCAS that has been implicated in both crashes. …read more […]

Real estate developer Howard Hughes Corp on Monday named a new chief executive officer and said it would sell about $2 billion of non-core assets following a strategic review. Paul Layne has been named CEO, effective immediately. In June, the real estate developer hired Centerview Partners to explore strategic alternatives that included a potential sale of the company. …read more […]

The U.S. Treasury Department on Monday renewed a license allowing Chevron, the last U.S. operating energy company in Venezuela, to continue drilling in the country for another three months through Jan. 22. Some Trump administration officials opposed a renewal of the license, believing oil production helps keep socialist President Nicolas Maduro in power by allowing him to pay down debts. Chevron has been in Venezuela for nearly 100 years and has about 8,000 employees, contractors and direct suppliers involved in its ventures there. …read more […]

At a recent talk I gave to Oxford Club employees, I was asked about the worst trade I ever made and what I learned from it.
I learned a heck of a lot, let me tell you.
Back during the dot-com boom, nearly two decades ago when I was just three years into my career, I bought shares of an online sports video company called Quokka.
Don’t bother looking it up. It doesn’t exist anymore.
It streamed live niche sporting events and signed a deal to broadcast Olympic sports like kayaking and others that wouldn’t be shown on network television.
It had cool technology, but …read more […]

Bank of America Merrill Lynch issued a bearish note on Boeing, as the jet maker continues to dodge criticism over its handling of the 737 MAX controversy. Yahoo Finance’s Jennifer Rogers, Brian Cheung, and Editor-in-Chief Andy Serwer discuss the latest. …read more […]

LONDON/WASHINGTON, Oct 21 (Reuters) – Russian hackers piggy-backed on an Iranian cyber-espionage operation to attack government and industry organisations in dozens of countries while masquerading as attackers from the Islamic Republic, British and U.S. officials said on Monday. The Russian group, known as “Turla” and accused by Estonian and Czech authorities of operating on behalf of Russia’s FSB security service, has used Iranian tools and computer infrastructure to successfully hack in to organisations in at least 20 different countries over the last 18 months, British security officials said. Paul Chichester, a senior official at Britain’s GCHQ intelligence agency, …read more […]