Boeing Financial News

By Tim Hepher

India's compliance rating with international leasing laws and kept the country on a watchlist with a negative outlook amid a dispute between local airline Go First and its aircraft lessors. The move by the Aviation Working Group (AWG), a UK-based entity that monitors leasing and financing laws, comes as bankrupt budget carrier Go First is locked in a legal tussle with aircraft lessors seeking to repossess jets. The courtroom battle started after Go First was granted bankruptcy protection in May. Under Indian law, that prevented lessors from recovering 50-plus grounded Airbus planes.

Investing.com — The pound on Monday looked set to wrap up the third quarter at the end of week with hefty losses against the dollar, and likely faces uphill battle ahead as sterling bulls are throwing in the towel to join the bears in forecasting doom and gloom for the currency following the Bank of England's rate pause last week.       

Aviation Working Group said with a warning of further downgrading of ratings. Aviation Working Group (AWG) monitors leasing legal and financial laws and operates on a non-profit basis jointly chaired by Airbus and Boeing. India's rating has been lowered from 3.5 out of 5 to 2.

The Pentagon wants to acquire thousands of drones over the next two years that can fly to their targets, confuse radar, overwhelm enemy defenses, fire missiles and gather intelligence. But making the uncrewed aircraft quickly and cheaply is another matter. Mass production of large and small drones is crucial to the Pentagon’s plan to build big stocks of weapons and ammunition to deter China, which the Defense Department describes as the U.S.’s prime strategic competitor.

By Tim Hepher

(Reuters) — Air Canada said on Monday it had signed an agreement with Boeing (NYSE:BA) to buy 18 widebody 787 Dreamliner jets, as the carrier looks to capitalize on strong travel demand and deploy fuel-efficient airplanes.

By Alun John

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Bank of England's decision to halt interest rate increases for the first time in almost two years. S&P Global's composite Purchasing Managers' Index slipped to 46.8 in September from 48.6 the month before, the sharpest decline in output since January 2021 when the UK was in lockdown. The reading was worse than economists expected and plunged the private sector deeper into contraction territory. The survey was cited in the BOE's decision to hold interest rates at 5.25% as evidence that Britain's already sputtering economy was weakening. The central bank had an early look at the indicator before its decision, which economist said may indicate that borrowing costs have peaked for now. The PMI adds to a growing list of indicators that point to a lackluster second half of the year for the economy. Retail sales data also out Friday showing a smaller-than-expected bounce back in August. That suggests retail may be a drag on gross domestic product figures for the third quarter unless September delivers a big bounce higher. S&P also said there had been an “abrupt turnaround” in the jobs market, with staff cuts the fastest since October 2009, excluding lockdowns during the pandemic.

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British retail sales partially recovered in August after a rainy July washout, official figures showed on Friday, adding to signs that the country's consumers were mostly coping with the cost-of-living squeeze. Sales volumes rose by 0.4% on a month-on-month basis after a sharp 1.1% fall in July, the Office for National Statistics said. Economists polled by Reuters had forecast a slightly stronger 0.5% rise in August. While sales overall remained subdued, the partial recovery was driven by food sales and a strong month for clothing, Heather Bovill, deputy director for surveys and economic indicators at the Office for National Statistics (ONS), said. «These were partially offset by internet sales, which dropped slightly as some people returned to shopping in person following a very wet July.

Indian stock market indices are expected to open lower Friday tracking weakness in global peers amid worries over interest rates staying higher for longer that sent treasury yields soaring. Asian markets traded lower, while the US stock markets ended with steep losses overnight. The domestic benchmark equity indices witnessed an all-round selloff on Thursday with the Nifty 50 and Sensex ending in the negative territory for the third consecutive session.

Investing.com-- Oil prices rose slightly in Asian trade on Friday as growing expectations of tighter supplies helped markets look past concerns over rising interest rates, which had battered prices this week. 

By Rae Wee

Indian Navy, US aerospace manufacturer Boeing has said that the expanded fleet will result in an economic impact of $1.5 billion to the domestic industry in the next decade. The Indian Navy currently operates a fleet of 12 P8I aircraft that are tasked with carrying out long-range maritime patrols in areas of interest extending from the Gulf of Aden to the Sunda strait in Indonesia. The aircraft, equipped with anti-submarine warfare as well as the capability to attack surface ships, are often used in coordination with friendly navies like the US and Australia. Top Boeing executives said that talks are on with the Indian Navy to extend the fleet to 18 aircraft, with additional features. “Boeing has already generated a substantial economic impact amounting to $1.7 billion to support the current P8I aircraft fleet in service with the Indian Navy. We see an expanded fleet bringing in another $1.5 billion,” Dan Gillian, vice president, Boeing Defence said. The US-based company said that it is looking to create more partnerships in India to add value to its global programs, and several Indian companies are now an active part of its international supply chain. “As we respond to the Indian Navy's need for more P8I aircraft, we're actively looking to enhance engineering, manufacturing, and sustainment capabilities in India, for India, and the world, benefiting both Indian and global customers,” Salil Gupte, president of Boeing India said.

(Reuters) — Many U.S. government services would be disrupted and hundreds of thousands of federal workers furloughed without pay if Congress fails to provide funding for the fiscal year starting Oct. 1. Workers deemed «essential» would remain on the job, but without pay.

By William Schomberg, Andy Bruce and Suban Abdulla

LONDON — The Bank of England on Thursday ended a run of 14 straight interest rate hikes after new data showed inflation is now running below expectations.

Bank of England halted its long run of interest rate increases on Thursday as the British economy slowed, but it said it was not taking a recent fall in inflation for granted. A day after a surprise slowing in Britain's fast pace of price growth, the BoE's Monetary Policy Committee voted by a narrow margin of 5-4 to keep Bank Rate at 5.25%. Four members — Jon Cunliffe, Megan Greene, Jonathan Haskel and Catherine Mann — voted to raise rates to 5.5%. It was the first time since December 2021 that the BoE did not increase borrowing costs. «There are increasing signs of some impact of tighter monetary policy on the labour market and on momentum in the real economy more generally,» the MPC said in a statement. It cut its forecast for economic growth in the July-September period to just 0.1% from August's forecast of 0.4% and noted clear signs of weakness in the housing market. Growth for the rest of the year was likely to be weaker than previous forecasts, the BoE said. Record growth in workers' pay, which has been a big concern for the central bank, was not backed up by other measures of the labour market, it noted, suggesting the BoE's policymakers expected it to slow down soon. «CPI inflation is expected to fall significantly further in the near term, reflecting lower annual energy inflation, despite the renewed upward pressure from oil prices,» the BoE said. But it said services inflation was expected to remain elevated. The BoE's decision to pause its rate hikes came a day after the U.S. Federal Reserve also opted to keep borrowing costs on hold.