October, 2020

• 14 October

  Delta Air can’t avoid shrinking-airline issue

  

  Delta Air Lines Inc may be the best positioned of the US carriers to weather the pandemic slump in air travel, given its relatively strong balance sheet and historically top-tier operating performance. But even Delta sees reason for further cutbacks. It’s yet another reminder of just how painful the near-term trajectory is for the aerospace industry. Delta reported a third-quarter ...

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• 14 October

  J&J investors are fixated on vaccines

  

  The world just got another reminder that vaccine development isn’t easy. Johnson & Johnson announced that it was pausing the 60,000-person trial of its Covid-19 vaccine three weeks after it started because of an unexplained illness in a participant. The news comes a month after AstraZeneca Plc announced its own pause for a similar reason. That vaccine has yet to ...

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• 14 October

  Barrett’s best ally is Ruth Bader Ginsburg

  Judge Amy Barrett has had a powerful ally during her confirmation hearings: Ruth Bader Ginsburg. At Ginsburg’s own hearings in 1993, she would offer “no hints, no forecasts, no previews” about how she would vote in cases that might come before the Supreme Court. She refused to answer questions about her views on the constitutionality of school vouchers, among other ...

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• 14 October

  Trump’s student visa plan will hurt Africa, US

  Against a backdrop of rising tensions with the Soviets in 1959, President John F Kennedy delivered a speech in New York that presented a new strategic approach towards African nations and US global leadership in a world defined by great-power competition. “Opening our universities and college doors to several times as many African students as now come over — this ...

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• 14 October

  Delta Air delays $5bn of jet deliveries in blow to Airbus

  

  Bloomberg Delta Air Lines Inc is delaying $5 billion in aircraft deliveries until after 2022, dealing a blow to Airbus SE as the US carrier braces for years of weak travel demand. The deferrals include about $2 billion in planes that were scheduled to be handed over this year, Delta said in a statement as it reported worse-than-expected quarterly results. ...

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• 14 October

  Pratt begins job cuts as virus guts demand

  

  Bloomberg Raytheon Technologies Corp began shedding salaried workers at its Pratt & Whitney jet-engine unit as the company prepares for a long slump in sales and repair work. Most of the involuntary cuts will occur over the next few days and affect workers in the US, Canada and Poland, Pratt said in an internal memo seen by Bloomberg News . ...

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• 14 October

  American airports binging on debt see travel revive

  

  Bloomberg Americans are slowly starting to fly again, which signals a positive turnaround for owners of the more than $120 billion of municipal debt sold by the nation’s airports. Some 5.7 million travellers passed through checkpoints in the week ended on October 10, the most since the coronavirus pandemic scuttled air travel and halted tourism, according to the Transportation Security ...

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• 14 October

  Nearly 1,000 Boeing plane orders lost or in doubt

  

  Bloomberg Boeing is nearing 1,000 scrapped or impaired jetliner orders this year, failing to notch any sales in September, as the long 737 Max grounding and the coronavirus pandemic extended their toll. The reduction of 983 net plane orders this year has winnowed Boeing’s stockpile by 19%, according to data posted on the company’s website. Cancellations accounted for about a ...

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• 14 October

  Walmart’s Black Friday plan caps customer capacity at 20%

  Bloomberg Black Friday is known for massive crowds of shoppers elbowing one another aside to get a good deal. At Walmart Inc, that won’t be the case this year. The world’s biggest retailer will limit the number of customers inside its stores to just 20% of usual capacity as the threat of the coronavirus looms over this holiday shopping season. ...

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• 14 October

  Instacart valuation jumps to $17.7b

  Bloomberg Investors pushed the value of Instacart Inc to $17.7 billion in a new private funding round, more than doubling the valuation of the grocery-delivery startup since the start of the coronavirus pandemic. Valiant Peregrine Fund and Daniel Sundheim’s D1 Capital Partners, two existing investors in Instacart, led the round, the grocery startup said. Instacart plans to use the $200 ...

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