PARIS (Reuters) – Air France-KLM’s engineering and maintenance business is targeting a return to 2019 levels of operating profit in 2024, despite higher working capital, Anne Brachet, EVP of the division, said at the Paris Airshow on Wednesday. The division, which repairs and maintains aircraft, needs to stock certain parts to avoid shortages as the…
By Lewis Jackson SYDNEY (Reuters) -The chair of an Australian senate committee looking into PricewaterhouseCoopers’ leak of a confidential government tax plan has called for an international investigation into the matter. Committee chair Senator Richard Colbeck presented a 33-page report on the leak to parliament on Wednesday and said information released to date showed the…
By Selena Li HONG KONG (Reuters) – JPMorgan Chase & Co has in a new round of downsizing cut around 20 investment banking jobs in Asia, a source with direct knowledge of the matter said, joining global peers in trimming headcount as dealmaking slows. JPMorgan on Tuesday notified the impacted bankers, the majority of whom…
By Gabriel Araujo SAO PAULO (Reuters) – Brazilian planemaker Embraer is returning to China with a deal to convert passenger jets into freight aircraft with a local partner in the northwestern city of Lanzhou, the company said on Wednesday. Anticipation of new business in China has been high since President Luiz Inacio Lula da Silva’s…
PARIS (Reuters) – Pratt & Whitney is seeing “solid progress” in the aerospace supply chain after bottlenecks caused by the pandemic, Shane Eddy, president of engine maker Pratt & Whitney, said at the Paris Airshow on Wednesday. The Raytheon Technologies subsidiary, which has faced a backlash from airlines over durability problems and a shortage of…
(Reuters) -Commonwealth Bank of Australia on Wednesday cut its buffer rate for some borrowers refinancing their existing home loan to 1% from the industry standard of 3%, providing relief to many clients who would otherwise fail to qualify due to high interest rates. The country’s prudential regulator advises lenders to refinance home loans only if…
TOKYO (Reuters) – Japan saw a slight decline in visitors in May from the previous month, when a rush of tourists came to see the nation’s famous cherry blossoms without COVID-19 restrictions, official data showed on Wednesday. The number of foreign visitors for business and leisure came in just below 1.9 million last month from…
(Reuters) – Australian Perpetual on Wednesday confirmed an extended tech outage over an IT security incident, affecting some of its funds, though the fund manager reaffirmed that all its client investments and its own systems were unaffected and secure. “Perpetual’s listed products, institutional mandates, Pendal, Perpetual Corporate Trust, Perpetual Wrap clients, and all of our…
MADRID (Reuters) – Britain telecoms company Vodafone has hired investment bank Morgan Stanley to evaluate the options for its Spanish unit, Spanish newspaper Expansion reported on Wednesday citing unidentified market sources. The company has started a strategic review on the future of its Spanish unit and its CEO Margherita Della Valle said last month the…
(Reuters) -GSK on Wednesday said its vaccine for the respiratory syncytial virus (RSV), which recently won EU approval, showed strong long-term protection in older adults in a late-stage trial. The British drugmaker said a ‘Phase III’ trial showed vaccine efficacy against RSV-lower respiratory tract disease and severe disease over two full RSV seasons, including in…
