Share to Twitter Share to Linkedin So far, the announced $3.8 billion merger agreement between JetBlue and Spirit Airline s has not set the airline world on fire. The threat of the Department of Justice killing the deal because of competitive issues, along with the disastrous performance of all the airlines (more than 100,000 flights cancelled as of July 16) are leading concerns. Wall Street seems underwhelmed. JetBlue stock traded around $8.30 a share on August 1 when the deal was announced. It closed out the week at $8.68, near the bottom of its 52-week range of $7.87 to $16.64. To add insult to injury, prominent Wall Street airline industry analyst Helane Becker of Cowen reduced her price target for Jet Blue, from $14 to $10. Bank of America Securities kept a Hold rating on JetBlue witha price target of $10. Analyst consensus was a Hold with an average price target of $8.75, a seven-cent gain from today’s levels. Ouch. But could factors like … [Read more...] about Could Overlooked Factors Make The JetBlue/Spirit Merger A Success?
E mandate for united securities
Why this company ditched its 4-day workweek
On paper, a four-day workweek sounds great. Who wouldn’t want to work fewer hours for the same amount of money? Research from Henley Business School in the United Kingdom found that a four-day week could provide benefits to employers and employees alike, including improved work quality, less stress, and a heightened ability to attract and retain talent. advertisement advertisement But is it really what it’s cracked up to be? Not always, says Rebecca Brooks, founder and CEO of the Los Angeles-based marketing research firm Alter Agents . When COVID-19 hit, she and her team of 23 employees shifted to remote work, later opting to stay fully remote. Like most companies, Brooks says working from home was an adjustment. “There were lots of stressors,” she says. “Employees had personal things going on and there was a lot of chaos. We were trying to help our employees like protect their boundaries.” Brooks started reading about four-day workweek … [Read more...] about Why this company ditched its 4-day workweek
Biden ‘concerned’ as China extends military drills around Taiwan
A Chinese People’s Liberation Army (PLA) aircraft flies over a 68-nautical-mile scenic spot, one of mainland China’s closest points to the island of Taiwan, in Pingtan island, Fujian province, China Aug. 5, 2022. (Photo by ALY SONG / Reuters) TAIPEI — China announced new military drills around Taiwan on Monday, eliciting concern from US President Joe Biden, a day after the scheduled end of Beijing’s largest exercises to protest last week’s visit to the island by US House Speaker Nancy Pelosi. China’s Eastern Theatre Command said it would conduct joint drills focusing on anti-submarine and sea assault operations – confirming the fears of some security analysts and diplomats that Beijing would keep pressure on Taiwan’s defenses. Taiwan’s foreign ministry condemned the move, saying China, which claims the self-ruled island as its own, was deliberately creating crises. It demanded Beijing stop its military actions and “pull back from the edge.” “In the face of military … [Read more...] about Biden ‘concerned’ as China extends military drills around Taiwan
Global Cyberattack Seems Intent on Havoc, Not Extortion
More cyber attacks could be in the pipeline after the global havoc caused by the Wannacry ransom-ware. – PARIS – A cyberattack that caused indiscriminate economic damage around the world was apparently designed to create maximum havoc in Russia’s neighbor and adversary Ukraine, security researchers said. While the rogue software used in the attack was configured as extortionate “ransomware,” that may have just been a ruse. “It is clear that this was targeted indiscriminately at Ukrainian businesses, and the Ukrainian government,” Jake Williams, president of the security firm Rendition Infosec and a former member of the U.S. National Security Agency’s elite cyberwarfare group, told The Associated Press in an online chat. “The ‘ransomware’ component is just a smokescreen (and a bad one).” UKRAINE IN PAIN Although the attack was global in its reach, Ukraine bore the brunt. Computers were disabled at banks, government agencies, energy companies, supermarkets, … [Read more...] about Global Cyberattack Seems Intent on Havoc, Not Extortion
Russia, Ukraine agree to protect Ukraine grain shipping channel
Turkish-flagged cargo ship Polarnet, carrying Ukrainian grain, approaches its final destination, marking the completion of the first shipment since the exports were re-launched from Ukraine, at Safiport Derince in gulf of Izmit in Kocaeli province, Turkey August 8, 2022. REUTERS/Umit Bektas/File Photo LONDON/NEW YORK — Ships exporting Ukraine grain through the Black Sea will be protected by a 10 nautical mile buffer zone, according to long-awaited procedures agreed by Russia, Ukraine, Turkey and the United Nations on Monday and seen by Reuters. The United Nations and Turkey brokered a deal last month after Russia’s Feb. 24 invasion of Ukraine halted grain exports, stoking a global food crisis that the United Nations says has pushed tens of millions more people into hunger. Since then Russia, Ukraine, Turkey and the United Nations have been working to hammer out written procedures in the hope that it will assure shipping and insurance companies enough to resume grain and … [Read more...] about Russia, Ukraine agree to protect Ukraine grain shipping channel
The US-led drive to isolate Russia, China falls short
Viktor Vekselberg (Photo by Andrey Rudakov/Bloomberg) - A + A The soft power tussle was on show in Africa last month, when Russian Foreign Minister Sergei Lavrov won praise for Moscow’s nuclear power technology BERLIN/HONG KONG/JOHANNESBURG (Aug 8): When Group of Seven leaders gathered in the Bavarian Alps in June, they pledged to stand with Ukraine for the long haul. Their Group of 20 counterparts are proving less supportive. Comprising nations that account for some 85% of global economic output, the G-20 is supposed to be more reflective of the world. Yet only half its number has joined the international sanctions imposed on fellow member Russia over its invasion of Ukraine. Senior officials from the smaller group of wealthy nations have been traveling the world to make the case for a tougher economic net around Russia. They’ve been surprised by the lack of sign-on from G-20 states, even if those countries aren’t going out of their way to help … [Read more...] about The US-led drive to isolate Russia, China falls short
Metronic says venture into IOT, e-commerce ‘not tantamount to diversification in operations’
- A + A KUALA LUMPUR (Aug 8): Metronic Global Bhd said its venture into the Internet of Things (IOT), logistics technology and e-commerce does “not tantamount to (a) diversification in operations” with regard to Main Market listing requirements but only a “diversification into a new business channel”. The group said “the amount of investment was less than 35%” as it replied to queries by the stock market regulator. “In addition to that, the revenue to be generated from the platform that is in the form of merchant’s fee and commission is also expected to be less than 25% of the group’s revenue,” it added in the stock exchange filing. Metronic expects to generate a total gross software merchandise turnover of RM100 million in the next five years, following its unit Metronic Integrated System Sdn Bhd's venture into IOT, logistics technology and e-commerce. “We would like to highlight that most of the merchandises are related to its engineering services and products … [Read more...] about Metronic says venture into IOT, e-commerce ‘not tantamount to diversification in operations’
Comcast’s Q2 – Sound Strategy Gives NBCUniversal And Peacock A Bright Future
Share to Twitter Share to Linkedin You cannot tell the strength of a company’s future by looking at its current financials. Comcast CMCSA ’s Q2 is a case in point. It suffered a pandemic-fueled decline in revenue of 11.7% over its 2019 Q2 results, and a resultant decline in adjusted net income by 12.2%. The revenue decline was felt across the board in varying degrees for Cable Communications (down 0.2%), NBCUniversal (down 25.4%), and Sky which is a telecommunications conglomerate in Europe (down 12.9% on a constant currency basis). As noted, NBCUniversal was hit particularly hard with cable networks revenue down by 14.7%, broadcast television revenue down by 1.6%, filmed entertainment revenue down by 18.1%, and theme park revenue down by a whopping 94.1%. In aggregate, this resulted in a decline for the unit in Adjusted EBITDA by 29.5% quarter-over-quarter. Despite the damage, Comcast was able to achieve an adjusted earnings per share of 69 cents versus … [Read more...] about Comcast’s Q2 – Sound Strategy Gives NBCUniversal And Peacock A Bright Future
Beijing Protested U.S. Plan to Sell $1.4 Billion Worth of Arms to Taiwan
President Tsai Ing-wen visits a combat support ship during her trip at a navy base in Kaohsiung on March 21, 2017. Tyrone Siu / Reuters – BEIJING – China on Friday strongly protested a U.S. plan to sell $1.4 billion worth of arms to Taiwan and demanded that the deal be canceled. Chinese foreign ministry spokesman Lu Kang said the sale would severely damage China’s sovereignty and security interests and run counter to Washington’s commitment to a “one-China” policy. He asked the U.S. to immediately stop the sale to avoid harming relations with Beijing. “We stress that nobody could sway our determination to uphold our territorial integrity and sovereignty,” Lu said at a regular daily briefing. “We oppose any external interference in our internal affairs.” The U.S. State Department approved the arms sale on Thursday, the first such deal with Taiwan since President Donald Trump took office. The sale was broadly welcomed on Taiwan as a show of U.S. support, … [Read more...] about Beijing Protested U.S. Plan to Sell $1.4 Billion Worth of Arms to Taiwan