Brazil’s largest airline says it is investing $3.2 billion to buy 34 new planes. TAM Airlines says it’s ordering 32 jets from the Airbus A320 line and two Boeing 777-300ER planes. The Boeing jets will be delivered in 2014. The Airbus aircraft will delivered between 2016 and 2018. The airline says in a Monday release the orders are needed to meet Brazil’s booming air travel demand, which it says should grow 9 percent a year for the next two decades. The aircraft will be used on both domestic and international routes. TAM says all the new jets are more fuel efficient, helping the company reduce carbon emissions. TAM has 152 aircraft.
JPMorgan Chase seeks a stake in Twitter
JPMorgan Chase & Co.’s new fund that invests in social media companies is in talks to buy a minority stake in Twitter, according to published reports. The investment by JPMorgan’s $1.22 billion digital growth fund would value the messaging service at more than $4 billion, according to the reports by the Financial Times, The New York Times and The Wall Street Journal, which cited unidentified people. It is unclear whether JPMorgan would invest in Twitter directly or buy shares from existing investors with Twitter’s permission, the reports said. A spokeswoman for Twitter declined to comment on the reports. JPMorgan also declined to comment. JPMorgan announced the new fund in a regulatory filing last week. It intends to invest in companies with established business models and steady revenue before they go public. A spokeswoman for Twitter declined to comment on the reports. JPMorgan also declined to comment.
United Tech CEO gets 9 percent raise
United Technologies Corp. gave its chief executive total compensation of $19.5 million in 2010, up 9 percent from the previous year. The Hartford-based conglomerate paid CEO Louis Chenevert a salary of nearly $1.6 million, up about 11 percent from 2009 because of the company’s “favorable overall assessment of his performance.” United Technologies also paid Chenevert a $4 million bonus and a performance-based cash bonus of $1.3 million.
T-bill rates rise in Monday auction
The Treasury Department auctioned three-month bills at a discount rate of 0.145 percent, up from 0.11 percent last week. Six-month bills were auctioned at a discount rate of 0.17 percent, up from 0.155 percent last week. The discount rates reflect that the bills sell for less than face value. The three-month price was $9,996.33 while a six-month bill sold for $9,991.41. That would equal an annualized rate of 0.147 percent for the three-month bills and 0.173 percent for the six-month bills. Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, fell to 0.27 percent last week from 0.29 percent the previous week.
From Herald news services
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