GE Aerospace should triumph as ongoing manufacturing troubles plague Boeing , according to Artisan Partners’ Chris Smith. “GE has really effectively become a monopoly with their new leap engine, which will be on all new narrow-body planes,” which could account for more than 80% of engines in the air over the next decade, according to the portfolio manager of the Antero Peak Group at Artisan. Delivery delays following Boeing’s 737 Max 9 door-plug blowout in January are forcing airlines to service older aircrafts and are fueling pent-up demand for GE’s products, according to Smith. He views GE as a “premier”…
Author: usaeverydaylife
U.S. Vice President and Democratic presidential candidate Kamala Harris and her running mate Minnesota Governor Tim Walz gesture at a campaign rally in Milwaukee, Wisconsin, U.S., August 20, 2024. Kevin Lamarque | ReutersTo understand the economic vision of the Harris-Walz presidential ticket, Minnesotans say just look at the North Star State.”I’ve heard some of the things that have been talked about on the ticket,” Minnesota AFL-CIO President Bernie Burnham told CNBC in an interview. “They are kind of a reflection of what’s happening here.”Under its Democratic Gov. Tim Walz, Minnesota has expanded union protections, approved over $1 billion in housing resources,…
People taking the key component of blockbuster weight loss drugs Ozempic and Wegovy were less likely to die of Covid-19 or suffer adverse effects from the virus, researchers found in a new study.People who were already being treated with a 2.4 mg dose of the drug semaglutide — the active ingredient in pharma titan Novo Nordisk’s Ozempic and Wegovy — could still contract Covid-19 but had a 33% lower chance of dying from the sickness, according to a crop of studies published by the Journal of the American College of Cardiology (JACC) on Friday.The papers also indicate that semaglutide may…
German Chancellor Olaf Scholz (R), Finance Minister Christian Lindner (L) and Economy and Climate Action Minister Robert Habeck speak to the media.Sean Gallup | Getty Images News | Getty ImagesThe ruling coalition in Berlin is likely to struggle onward until a nationwide vote next year, according to political commentators, following a historic state election win for the far-right AfD over the weekend.The populist and anti-immigration AfD (Alternative for Germany) recorded successes in two state elections Sunday, securing far more votes than the parties currently in the national ruling coalition behind Chancellor Olaf Scholz.Marcel Fratzscher, president of The German Institute of…
The Huawei flagship store and the Apple flagship store are seen at Nanjing Road Pedestrian Street in Shanghai, China, September 2, 2024. Cfoto | Future Publishing | Getty ImagesHuawei said Monday it plans to hold a product launch event this month just hours after Apple’s annual iPhone reveal as the Chinese technology giant looks to upstage its U.S. rival.The event will take place on Sept. 10 at 2:30 p.m. Beijing time, Huawei said in a post on Chinese X-like service Weibo on Monday.That timing would be late evening on Sept. 9 on the west coast of the U.S., where Apple’s event…
Rupert Murdoch, chairman emeritus of media empire News Corp.Axelle/bauer-griffin | Filmmagic | Getty ImagesLONDON — Rupert Murdoch-owned REA Group said Monday it is contemplating a takeover offer for U.K. property portal Rightmove in a bid to create a global digital real estate business.The Australian property listings company, which is controlled by Murdoch’s News Corp, said in a statement to the Australian stock market that it was considering a possible cash and share offer for Rightmove, but it has not yet had any discussions with the company.Shares of Rightmove jumped 25% in early deals following the announcement. The stock was 23%…
Demonstrators lift flags and placards during a protest calling for the release of Israelis held hostage by Palestinian militants in Gaza since October, in Tel Aviv on August 31, 2024, amid the ongoing conflict in the Gaza Strip between Israel and the Palestinian militant Hamas movement. (Photo by Jack GUEZ / AFP) (Photo by JACK GUEZ/AFP via Getty Images)Jack Guez | Afp | Getty ImagesProtests have spilled into Israel’s streets, as the Jewish state braces for a nationwide strike amid mounting pressure on the administration of Prime Minister Benjamin Netanyahu to broker a cease-fire deal with Hamas and return hostages…
An eagle tops the U.S. Federal Reserve building’s facade in Washington, July 31, 2013. REUTERS/Jonathan Ernst/Jonathan Ernst | ReutersWhile British fund manager abdrn predicts that the U.S. economy will see a soft landing, there is still the risk of a prolonged slowdown in 2025, said Kenneth Akintewe, the company’s head of Asian sovereign debt.Speaking to CNBC’s “Squawk Box Asia” on Monday, Akintewe asked the question: “Is the Fed already sleepwalking into a policy mistake?”He pointed to economic data like non-farm payrolls, saying they were later revised to reflect a weaker economic picture. In August, the U.S. Labor Department reported that…
Container ships dock to load and unload containers at Qianwan Container Terminal of Qingdao Port in Qingdao, China, on August 29, 2024.Costfoto | Nurphoto | Getty ImagesChina’s factory activity grew modestly among smaller manufacturers last month as export orders offset weakening domestic consumption, according to a private survey.The Caixin/S&P Global manufacturing PMI came in at 50.4 in August, according to data released Monday, beating the median estimate of 50.0 in a Reuters poll. The latest figure also reflects a rebound from the contractionary level of 49.8 in July.The private gauge, which focuses on smaller and export-oriented companies, came in contrast…
People wait in line outside Macy’s before opening on “Black Friday” in New York City on November 24, 2023. The retail sector’s efforts to entice holiday gift purchases builds to a crescendo this weekend with the annual “Black Friday” shopping day followed by the newer “Cyber Monday.” (Photo by Yuki IWAMURA / AFP) (Photo by YUKI IWAMURA/AFP via Getty Images)Yuki Iwamura | Afp | Getty ImagesThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see?…
