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Airbus SE aircraft deliveries fell again in October, as problems in its supply chain disrupted the automaker’s ambitions to quickly return to pre-pandemic production levels.
The European aircraft maker said Friday it delivered 36 commercial jets last month, up from 40 in September and August, and the lowest monthly tally since February. That leaves it with the need to deliver another 140 aircraft in the last two months of the year to meet its annual target of 600 deliveries.
IAG Says Significant Recovery Underway With Return Of Long-Haul Passengers
International Consolidated Airlines Group SA said on Friday that a significant recovery was underway as it continues to capitalize on increases in bookings following the lifting of restrictions linked to the pandemic.
The parent company of British Airways and Iberia, among others, said all of its airlines had improved and the group’s operating loss fell by more than half compared to previous quarters.
Eurozone retail sales fell in September, missing expectations
Eurozone retail sales fell unexpectedly in September after rising the previous month as consumers cut spending on non-food items, European Union statistics agency Eurostat said on Friday.
Retail sales volume fell 0.3% in September from the previous month, after a revised upward increase of 1% in August, Eurostat reported. Economists polled by the Wall Street Journal were forecasting a 0.2% increase for September.
German industrial production fell again in September on supply chain strains
German industrial production fell in September for the second month in a row as supply chain bottlenecks weighed on factory output.
Total industrial production – including production in industry, energy and construction – fell 1.1% in September on a month-to-month basis, the statistics office Destatis said on Friday.
CaixaBank sells its entire 9.92% stake in Erste Group Bank for € 1.5 billion
CaixaBank SA announced on Friday that it had sold its entire 9.92% stake in Austria’s Erste Group Bank AG for 1.5 billion euros ($ 1.73 billion).
The Spanish bank said the divestiture will have a positive impact on gross income and losses by € 54 million, while its Tier 1 ordinary equity ratio – a measure of capital strength – will increase by 16 percentage points. based.
AXA Launches $ 2 Billion Share Buyback Amid Higher Nine-Month Income
AXA SA announced Thursday that it will launch a share buyback program worth € 1.7 billion ($ 1.97 billion), as it posted nine-month revenue growth .
The French insurer said the buyback would start on or around November 8 and would be completed by the end of April 2022, with the company canceling all shares bought back.
US-EU steel tariff deal onerous for small importers
WASHINGTON – The Biden administration’s deal to ease tariffs on steel and aluminum in Europe has been hailed by much of US industry, but a complex new quota system comes with it fueled the concerns of small importers.
The deal, announced at the Group of 20 summit last weekend, allows the European Union to export steel and aluminum duty-free up to a quota of 3.3 million tons of steel and 384,000 tons of aluminum per year.
WORLD NEWS
U.S. job growth is estimated to rebound in October
Job growth in the United States likely rebounded last month, but not enough to return to the higher pace at the start of the year, with a shortage of workers and other effects of the pandemic weighing on the economy.
It is estimated that employers created 450,000 jobs in October, which would be the largest gain in three months but still below the 2021 average, according to economists polled by the Wall Street Journal. The unemployment rate is expected to have fallen to 4.7% last month from 4.8% a month earlier. The Labor Department releases its monthly employment report at 8:30 a.m. ET Friday.
Fed Chairman Powell seen visiting the White House on Thursday
Federal Reserve Chairman Jerome Powell was seen visiting the White House on Thursday, people familiar with the matter said.
Mr. Powell’s tenure as head of the central bank will expire next February. President Biden told reporters on Tuesday he would announce decisions “fairly quickly” about whether to offer Mr. Powell another term or whether to bring in someone else to succeed him.
Corporate climate promises under new scrutiny
The United Nations climate change conference in Glasgow was full of promises by companies to reduce their carbon emissions. How many will be up to them and how will we know if they are complying?
A sample of new commitments includes United Airlines Holdings Inc., which says it will replace 5% of its jet fuel with alternatives to biofuels by 2030, and more than 450 banks and other financial companies who say they are orienting their business towards clean energy. Dozens of other companies have spoken about their climate plans.
US-EU steel tariff deal onerous for small importers
WASHINGTON – The Biden administration’s deal to ease tariffs on steel and aluminum in Europe has been hailed by much of US industry, but a complex new quota system comes with it fueled the concerns of small importers.
The deal, announced at the Group of 20 summit last weekend, allows the European Union to export steel and aluminum duty-free up to a quota of 3.3 million tons of steel and 384,000 tons of aluminum per year.
When will supply chain constraints finally ease?
Companies that have struggled to get goods to stores and distribution centers ahead of the holiday season are now starting to look to the longer term when the bottleneck that has crippled their supply chains could finally come to an end.
This is a critical question for retailers and manufacturers as they plan their investment, purchasing and production strategies for the next year. Comments from business executives on recent quarterly earnings calls and interviews with logistics experts suggest that expectations for relief are growing higher through 2022 and even beyond.
Japan lifts Covid-19 ban on business travelers and foreign workers
TOKYO-Japan said it would allow short-term business travelers and foreign workers to enter the country, responding to calls from companies worried about falling behind the West.
The move follows a sharp drop in new infections in Japan, which only reports a few hundred new cases of Covid-19 per day. More than 70% of the population is fully vaccinated.
Biden vaccine mandate poses new test for agency to apply
The implementation of President Biden’s mandate on vaccines in the private sector will depend to a large extent on the employees themselves, as the government agency whose mission is to improve workplace safety strives to play a more important in the fight against the pandemic.
The Department of Labor’s Occupational Safety and Health Administration, or OSHA, enforces the mandate, which requires workers in large private sector companies to be vaccinated against Covid-19 or tested weekly. The requirements, detailed on Thursday and due to go into effect Jan.4, will cover more than 80 million workers.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
November 05, 2021 07:18 ET (11:18 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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