June 28, 2006 |
French regulators raided the Paris offices of Airbus parent European Aeronautic Defense & Space Co. on Tuesday, piling extra pressure on a company grappling to contain a fierce internal feud sparked by a costly delay to the A380 super-jumbo jet. EADS said French securities officials had visited its headquarters as part of a probe into share trading leading up to the mid-June announcement of A380 production delays and a profit warning that sheared a quarter of the value off its stock.
June 17, 2006 |
Airbus' woes worsened Friday as a top executive defended his sale of stock options worth $3.1 million months before share prices plummeted this week on news of delays in production of a new super-jumbo airliner. French regulators said Friday that they were investigating the sales in March by Noel Forgeard, co-chief executive of EADS, Airbus' parent company, and by his family and other executives.
June 16, 2006 |
Airbus parent company EADS will launch a probe into the latest delays of the super-jumbo A380 jetliner, its co-chairman said in an interview, amid mounting questions about the company's management and stock sales this year. Arnaud Lagardere, co-chair of European Aeronautic Defense & Space Co., said he had no knowledge of the production problems with the A380 -- the world's biggest passenger plane -- until Airbus made an announcement Tuesday, according to the newspaper Le Monde.
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.
April 20, 2005 |
The Jan. 1 expiration of a global textile quota system has led to massive job losses and brewing labor unrest in countries that are finding it harder to compete against China and India. Dozens of textile and apparel factories have been shut and tens of thousands of jobs have been lost -- from South Africa to El Salvador to the U.S. -- according to government officials, labor activists and trade groups around the world.
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.