June 15, 2006 |
Shares of Airbus' parent plunged 26% on Wednesday -- wiping out nearly $7 billion in value -- after the world's largest aircraft maker lost a major order to U.S. rival Boeing Co. and announced a second production delay for its new super-jumbo jetliner, the A380. The sharp drop came as angry airlines confronted Airbus and parent European Aeronautic Defense & Space Co.
June 14, 2006 |
Airbus said Tuesday that deliveries of its new super-jumbo A380 could be delayed by as much as seven months because of production line bottlenecks, with airlines probably getting only nine planes next year. The European manufacturer said the 555-passenger aircraft's flight certification and initial delivery to its launch customer, Singapore Airlines, were still expected by year-end. Progress in flight testing is satisfactory, the company said.
March 14, 2006 |
Toyota Motor Corp., the world's second-largest automaker, will build Camry sedans at a Subaru plant in Indiana, as the company rushes to add capacity to meet rising sales in the biggest auto market. Toyota plans to make as many as 100,000 Camrys annually at the Lafayette, Ind., factory, with production to begin in 2007, Toyota President Katsuaki Watanabe said Monday.
March 6, 2006 |
With oil prices still above $60 a barrel, OPEC ministers probably will keep output steady when they meet this week to set strategies for the spring and early summer. A warmer-than-usual winter in the U.S. has built inventories, which should drive prices lower. But worries about supply disruptions from such countries as Iran are keeping prices high.
January 30, 2006 |
OPEC is unlikely to cut production when ministers gather Tuesday in Vienna to decide on oil policy, analysts and oil ministers said, as worries over disruptions of supplies from Nigeria and possibly Iran hang over the meeting. Iran, which has been under international pressure over its renewed nuclear program, officially cites a buildup of excess supply as the reason for a cut. Venezuela, which consistently argues in favor of defending high oil prices, has said it would support such a move.
August 1, 2003 |
OPEC, supplier of one-third of the world's oil, agreed Thursday to keep oil production quotas at their current levels, waiting for Iraqi production to fully recover from the war before cutting supplies. The group, meeting in Vienna, decided to maintain its output target of 25.4 million barrels a day. But members expressed concern about pumping too much oil later this year, assuming that Iraqi shipments ramp up.
June 24, 2002 |
With crude prices comfortably within OPEC's desired range, the group's oil ministers should find few reasons to tinker with their production quotas when they meet this week to assess market conditions. But energy analysts say they foresee too much uncertainty in the autumn for the Organization of the Petroleum Exporting Countries to feel confident for long.
September 19, 2001 |
Government delegates from steelmaking nations agreed at a Paris conference to consult with producers on reducing overcapacity and to reconvene in December. Overcapacity is dogging the world market for steel, government and industry representatives agreed in a statement at the end of the conference sponsored by the Organization for Economic Cooperation and Development.
September 14, 2001 |
Airbus' board might cut aircraft production goals for next year and 2003 because of a likely fall in demand after Tuesday's terrorist attacks on the U.S., said BAE System, a 20% shareholder in the No. 2 plane maker. Airbus directors will consider reducing 2003 production to less than 400 aircraft, BAE Chief Operating Officer Mike Turner said.
September 25, 2000 |
With nations around the globe protesting spiraling oil prices, the Organization of Petroleum Exporting Countries will hold its second summit in 40 years this week under immense pressure to increase production. Originally billed as a feel-good meeting on long-term strategy--and despite repeated claims that OPEC will make no production decisions here--the summit in Caracas that starts Tuesday has become a wild card that could test the cartel's new-found efforts at solidarity.