Airbus gets orders boost from lease firm
Published 12:01 am Friday, May 6, 2011
Airbus got a boost in orders last month when it finalized a previously announced 100-jet deal with International Lease Finance Corp. However, the European company still trails the Boeing Co. in net orders for the year after updating its tally Thursday. Airbus had only one net order coming into April, when it recorded the order for 100 A320s from ILFC. However, Airbus also logged another 11 cancellations — for 10 A380s and one A330 — last month. That brings Airbus’ net order tally to 90 through April. Boeing, which will update its orders and deliveries site this morning, had 106 net orders through April 26. Keep in mind, however, that the Paris Air Show is coming up in June. Airbus tends to save up large orders to announce at the show. Airbus delivered 48 aircraft last month, bringing its delivery total to 167.
GM quarterly profit best in last decade
General Motors Co. reported its highest quarterly profit in more than a decade, helped by demand for fuel-efficient cars and a big gain from selling its stake in its former auto parts business. The biggest U.S. automaker said Thursday that it earned $3.2 billion, or $1.77 per share, in the first quarter. It was a great start considering the spike in U.S. gasoline prices, a trend that would have sunk the company just a few years ago when it relied on gas-guzzling pickups and SUVs for profits. GM’s results follow strong earnings reports at crosstown rivals Ford Motor Co. and Chrysler Group LLC, a sign that the U.S. auto industry is recovering well from the recession and bankruptcies.
Jobless numbers surge last week
The number of people applying for unemployment benefits surged last week to the highest level in eight months, a troubling sign a day ahead of the government’s report on April employment. The Labor Department said Thursday that the 43,000 spike in applications to a seasonally adjusted 474,000 last week was largely the result of unusual factors, including a high number of school systems in New York that closed for spring break. Still, it marked the third increase in four weeks. The four-week average, a less volatile measure, rose for the fourth straight week to 431,250.
Bernanke: Regulators need better training
Regulators must better understand threats to the financial system to be able to prevent another crisis, Federal Reserve Chairman Ben Bernanke acknowledged Thursday. “These are difficult challenges, but if we are to avoid a repeat of the crisis and its economic consequences, these challenges must be met,” Bernanke said in a speech to a banking conference in Chicago. Bernanke said they are making progress implementing the financial overhaul law passed last year. It directed the Federal Reserve and other regulators to improve oversight of banks and Wall Street firms, with the goal of averting another crisis like the 2008 financial meltdown.
From Herald news services
