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Sep 5, 2013

United CFO: airline to return cash; concerned about Syria impact

WASHINGTON (Reuters) – United Airlines plans to return cash to shareholders after paying down debt next year, and the airline is on track to hit its target of 10 percent return on capital, the chief financial officer said on Thursday.

United Continental Holdings Inc (UAL.N: Quote, Profile, Research, Stock Buzz) plans to pay off $800 million in debt next year, which will strengthen the balance sheet enough to allow it to return cash to shareholders, CFO John Rainey said at the Reuters Aerospace and Defense Summit.

Sep 5, 2013

Travel to suffer as defense industry cuts budgets

WASHINGTON (Reuters) – Having enjoyed a relatively strong summer travel season, U.S. hotels and airlines face a potential hit this autumn as the nation’s defense industry and government departments rein in travel spending.

Officials at the Pentagon and top U.S. defense companies told the Reuters Aerospace and Defense Summit this week that they are cutting travel by double-digit percentages to deal with the latest round of automatic spending cuts caused by sequestration. The reductions could create a replay of cuts in the spring that reduced airline revenue when sequestration first hit U.S. government spending.

Sep 3, 2013

JetBlue not interested in merger, acquisition: CEO

Washington (Reuters) – JetBlue Airways Corp (JBLU.O: Quote, Profile, Research, Stock Buzz), mentioned as a possible takeover candidate if the merger of US Airways Group Inc (LCC.N: Quote, Profile, Research, Stock Buzz) and American Airlines (AAMRQ.PK: Quote, Profile, Research, Stock Buzz) fails to be completed, is not interested in a merger or acquisition, its chief executive said on Tuesday.

Speaking at the Reuters Aerospace and Defense Summit, CEO Dave Barger said JetBlue had an interest in assets such as airport gates that become available as a result of mergers. “But mergers and acquisitions, just not of interest to JetBlue. Independence into the future is our plan,” Barger said.

Jul 12, 2013

UPS warns on profits, cites weak economy

July 12 (Reuters) – United Parcel Service Inc, the
world’s No. 1 package delivery company, on Friday forecast
second-quarter profit below Wall Street expectations, signaling
that the global economic recovery still has a ways to go.

UPS, an economic bellwether along with rival FedEx Corp
because of the high volume of goods they move around the
world, blamed a weak U.S. industrial economy, customers’ trading
down to slower but cheaper shipping services, and overcapacity
in the global air freight market.

Jun 19, 2013

FedEx posts higher-than expected profit, will cut more capacity

June 19 (Reuters) – FedEx Corp reported a
higher-than-expected quarterly profit on Wednesday, sending its
shares higher, but the world’s biggest air-freight company said
it was cutting more capacity between the United States and Asia.

The company, considered an economic bellwether because of
the massive volume of goods it moves around the world, is still
trying to adjust to increasing demand for cheaper ground
transport rather than pricier but faster air shipping.

May 15, 2013

U.S., European groups divided on how to improve Bangladesh factories

May 15 (Reuters) – A trans-Atlantic divide between European
and U.S. retailers over how best to respond to fatal disasters
in Bangladesh textile factories split wide open on Wednesday,
with U.S. retailers claiming their European counterparts are
giving labor unions too much control over ensuring workplace
safety.

Some U.S. retailers, including Gap Inc, had said
they would not join the European pact without changes to the way
conflicts are resolved in the courts. The rhetoric sharpened
considerably when a U.S. trade group, the National Retail
Federation, after calls with member companies and other groups,
issued a stinging rebuke of the European-led safety accord.

Apr 27, 2013

Analysis: Bangladesh still works for retailers, despite disasters

By Nivedita Bhattacharjee and Jessica Wohl

(Reuters) – The factory collapse in Bangladesh that killed over 300 people this week is a stark reminder of the risks in the global retail industry’s search for cheap production.

But there have been few signs that safety issues and other questionable labor conditions are sending shockwaves through the major Western retailers, their shareholders or the people who buy the clothes in the United States, Europe and elsewhere.

Apr 27, 2013

Analysis – Bangladesh still works for retailers, despite disasters

By Nivedita Bhattacharjee and Jessica Wohl

(Reuters) – The factory collapse in Bangladesh that killed over 300 people this week is a stark reminder of the risks in the global retail industry’s search for cheap production.

But there have been few signs that safety issues and other questionable labour conditions are sending shockwaves through the major Western retailers, their shareholders or the people who buy the clothes in the United States, Europe and elsewhere.

Apr 27, 2013

Bangladesh still works for retailers, despite disasters

April 27 (Reuters) – The factory collapse in Bangladesh that
killed over 300 people this week is a stark reminder of the
risks in the global retail industry’s search for cheap
production.

But there have been few signs that safety issues and other
questionable labor conditions are sending shockwaves through the
major Western retailers, their shareholders or the people who
buy the clothes in the United States, Europe and elsewhere.

Apr 23, 2013

Norfolk Southern profit beats, non-coal shipping helps

April 23 (Reuters) – Coal shipments by Norfolk Southern Corp
fell sharply in the first quarter, but the U.S. railroad
still posted a higher profit on increased transport of goods.

Donald Seale, chief marketing officer, said domestic demand
for coal, a key part of Norfolk’s business, is expected to stay
weak in the near future as electric utilities replace coal with
cleaner, low-cost natural gas.

    • About Nivedita

      "Think all things tech and telecoms. Currently in Mumbai. Previously in Chicago, covering retail, transport and airlines. Joined Reuters in 2008."
      Joined Reuters:
      2008
      Languages:
      English, Hindi, Bengali
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