593
WASHINGTON: US airlines sought on Wednesday to block $3.4 billion in pending taxpayer-backed loan guarantees for Air India to buy Boeing Co jetliners.
The Air Transport Association, the leading US trade group for major carriers, sought an injunction in US District Court for the District of Columbia to stop financing arranged by the Export-Import Bank of the United States.
The Ex-Im bank is an independent agency that finances sales of American exports to international purchasers.
Airlines contend low-interest credit assistance to foreign carriers violates federal law. They also say that such financing puts them at a competitive disadvantage and that Air India's losses and management troubles should disqualify it from financing.
Air India ordered up to 50 long-range Boeing jets worth about $6 billion in 2005.
Foreign carriers, the US airlines also contend, have added capacity and gained market share on international routes to and from the United States.
"We believe that it ...
PARIS: Moody's downgraded on Wednesday its ratings of 10 German public-sector banks including BayernLB and Deutsche Hypo saying they were now less likely to receive state support if needed.
"The rating actions reflect Moody's assumption that there is now a lower likelihood that these banks would receive external support, if required," it said.
It noted that EU rules restricted support and that Germany had set up a bank resolution scheme.
Nevertheless it said the ratings of the banks, ...
SAN FRANCISCO: Hewlett-Packard (HP) on Wednesday unveiled a lightweight laptop computer to take on Apple's MacBook Air in the hot "Ultrabook" arena.
The HP Folio will be priced at $900 when it hits the market on December 7, less than two months after the California-based technology titan scuttled plans to abandon making personal computers.
HP tailored the Folio for business, making it thin and light with a battery life of as long as nine hours.
The Folio weighs ...
WASHINGTON: Antonio Borges, the chief of the European Department of the International Monetary Fund, has resigned from the post for personal reasons, the IMF announced Wednesday.
The IMF said British-Iranian Reza Moghadam, currently IMF director of the Strategy, Policy, and Review Department, will replace Borges in the crucial job overseeing the Fund's largest borrowers.
Copyright AFP (Agence France-Presse), 2011 
WASHINGTON: US banks could be hit hard if the eurozone crisis expands further, a study by Fitch ratings agency said Wednesday.
US banks have been slashing their European risk for more than a year, selling off the sovereign bonds of weak countries and reeling in lending, Fitch said.
Nevertheless, they still have exposure to the larger European Union member countries and major banks -- especially in France -- that, even if hedged, could prove costly if confidence ...
TORONTO: Canada's sale of 30-year government bonds generated the lowest average yield in at least 8 years on Wednesday, as mounting euro zone debt concerns sent investors flocking to markets viewed as safe havens.
Global equity markets and the euro slid on Wednesday after the European Central Bank's (ECB's) buying of regional sovereign debt failed to stem a bond sell-off in the euro zone or to calm fears the debt crisis was spreading.
Canada's sale of ...
DUBAI: Airbus and Boeing concluded Dubai Airshow Wednesday head to head after bagging big orders, while the European producer widened the gap with its US rival in promoting eco-friendly, single-aisle jets.
The prestigious show was kicked off with a record order by Dubai's Emirates for 50 Boeing long-range 777-300ER jetliners, worth $18 billion. The American manufacturer topped its single largest dollar-value order with the sale of two 777 freighters to Qatar Airways for $560 million.
The purchase ...More Articles...
| |||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||
