Stock Movers: Boeing, GameStop, BioNTech
On this episode of Stock Movers: - Boeing (BA) shares drop after 787 Dreamliner aircraft operated by Air India crashed shortly after taking off in Ahmedabad, with 242 passengers and crew on board, and no reports of survivors. - GameSTOP (GME) shares dip after Hardware and Accessories net sales from the video game retailer missed Wall Street's expectations. - BioNteck (OXM) shares rose after agreeing to buy CureVac in an all-stock transaction to boost their growing oncology business.
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Air France-KLM CEO voices confidence in Boeing 787
PARIS (Reuters) -The head of Air France-KLM voiced confidence in the Boeing 787 Dreamliner as he expressed condolences to Air India and those affected by the deadly crash of a London-bound passenger jet in Ahmedabad on Thursday. "We still have confidence in the airplane; we have 34 787s in the KLM fleet," Ben Smith, CEO of the Franco-Dutch airline group, told the Paris Air Forum conference on Friday, noting that the tragic accident is under investigation. Speaking at the same event, Airbus CEO Guillaume Faury also expressed condolences to families of victims of the crash, the worst aviation disaster in a decade. India's air accident agency is investigating the cause of the crash which killed more than 240 people and safety experts have cautioned it is too early to speculate on the causes. India's aviation regulator on Friday directed Air India to carry out safety inspections on its Boeing 787-8/9 fleet, an order showed on Friday. Sign in to access your portfolio
Yahoo
31 minutes ago
- Yahoo
Billionaire friend of Prince of Wales dies after ‘swallowing a bee'
A billionaire friend of Prince William has died aged 53 after swallowing a bee, it has been claimed. Sunjay Kapur, an Indian businessman, reportedly collapsed while playing polo yesterday in England. Mr Kapur, who was chairman of global car parts giant Sona Comstar, had paid tribute to the victims of the Air India plane crash on Thursday hours before he died. He posted: 'Terrible news of the tragic Air India crash in Ahmedabad. My thoughts and prayers are with all the families affected. May they find strength in this difficult hour.'Reports have suggested he was stung by a bee in the mouth, potentially sparking an anaphylactic shock causing a heart attack. In a tribute posted on X, Mr Kapur's school said they were 'deeply saddened' by his death. The billionaire attended the Doon School in Uttarakhand, a 90-year-old boarding school in northern India, and later served on its board of governors. The school, which was modelled on the British public school and charges £13,406 per year for Indian students, described Mr Kapur as a 'passionate fitness and sport enthusiast and a learner for life'. They added: 'He worked to make polo more accessible beyond its traditional roots. 'Mr Kapur's enduring commitment to excellence, service, and community leaves a lasting legacy.' Mr Kapur was once married to Bollywood star Karisma Kapoor, 50, but the couple divorced. In an interview about her marriage in 2016, Ms Kapoor claimed Mr Kapur once left her to look after their child to play polo with William. Kapoor claimed: '[Sunjay] decided to carry on, leaving me behind to take care of our sick four-month-old son, just to play a Polo match with Prince William.' More to follow Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
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33 minutes ago
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The World's Largest Meatpacker Is Finally Set for Its NYSE Debut
The world's biggest meat company is set to debut on the New York Stock Exchange, riding strong earnings and American consumers' fixation on protein. Ordinarily, such a deal would draw a crowd of banks, a big roadshow and a traditional listing-day bell-ringing ceremony. JBS is going a different route, simply making its shares available to trade and letting the market take it from there. The Case for Rate Cuts Is Growing Inside ABC News's Decision to Oust a Longtime Correspondent Boeing Crash in India Is First Fatal Incident Involving a 787 Jet Chime Financial Is the Latest IPO to Soar in Debut Aerospace Startup JetZero to Start Building Futuristic Planes in North Carolina The São Paulo-based company on Friday will directly list its shares on the Big Board, aiming to cement its image as an American meat conglomerate. JBS last week delisted its shares from Brazil's São Paulo Stock Exchange, where they had traded for almost two decades. 'This step will mark a new chapter in the company's journey,' JBS Chief Executive Gilberto Tomazoni said last month. The $15 billion Brazilian meatpacking conglomerate brings to U.S. markets a sprawling global operation—and some baggage. A corruption case in Brazil ensnared two of its founding family members, who did jail time related to the affair, and environmental groups have long alleged it has driven deforestation. How JBS's listing trades will be a barometer on whether U.S. investors harbor concerns about the company, or are eager to get a piece of its prospects. JBS leaders have been trying to list shares in the U.S. since at least 2016. Company officials have said the move would help reduce its cost of capital and expand its branded product offering. JBS Chief Financial Officer Guilherme Cavalcanti said that the company isn't raising capital from the listing and that moving its shares from Brazil to the U.S. will open the company to a broader pool of potential investors. He said the company doesn't need a roadshow and regularly talks to investors at conferences. 'We are just doing bureaucratic things in changing an exchange,' Cavalcanti said in an interview. 'Why should I pay something to the bank, right, if I don't need them?' Named for founder José Batista Sobrinho, JBS began as a family-owned slaughterhouse in the Brazilian countryside. The Bastista family built JBS into a beef powerhouse in its home country, and harnessed government-backed loans to help fund an international acquisition spree that made it a global giant. JBS employs roughly 280,000 people around the world, processing protein ranging from beef to salmon and lamb. More than half of JBS's nearly $80 billion in sales now come from North America, where it is the largest U.S. processor of beef, the second-largest pork supplier and the majority owner of Pilgrim's Pride, the second-largest American chicken company. JBS reported a nearly $2 billion profit for 2024 compared with a loss the prior year, and its annual sales surpassed Wall Street analysts' estimates. The company's past efforts to list its shares in the U.S. were interrupted by market conditions following the Covid-19 pandemic, executives have said. JBS has also dealt with fallout from a corporate corruption scandal in Brazil. J&F Investimentos, which is run by the Batista family and owns about half of JBS's stock, admitted in 2017 to paying about $150 million in bribes to Brazilian politicians to help secure cheap government funding for acquisitions. Fallout from that episode landed the billionaire brothers Joesley and Wesley Batista in jail for several months. J&F in 2020 settled a corruption case with U.S. authorities, which it said was important to improving corporate governance efforts. Some of the largest American banks, including Morgan Stanley, JPMorgan Chase and Goldman Sachs, won't do business with JBS for compliance reasons, according to people familiar with the matter. A JBS spokeswoman said the company has a robust compliance program and uses a number of American, Canadian, European and Latin American banks. She said that as JBS board members, Wesley and Joesley Batista bring decades of operational experience, including turning around many of its U.S. acquisitions over the years. U.S. lawmakers and environmental groups have raised concerns over JBS's stock listing plan. Last year a bipartisan group of senators, including now Secretary of State Marco Rubio, called on the Securities and Exchange Commission to scrutinize the listing, saying it could 'subject U.S. investors to risk from a company with a history of blatant, systemic corruption, and further entrench its monopoly power.' Environmental groups have urged the SEC and NYSE to bar the listing, citing what they called JBS's record of profiting from Amazon deforestation, which the company has denied. Last month, shareholder advisory firms Glass Lewis and Institutional Shareholder Services recommended JBS investors vote against the company's listing plans. The firms said the listing could give J&F Investimentos, the company's controlling shareholder, roughly 85% of voting power in the U.S.-listed company. JBS secured approval from the SEC earlier this year. Company shareholders in late May approved a plan to restructure the company in the Netherlands and move forward with a U.S. listing. In addition to its primary New York listing, JBS will trade in Brazil through Brazilian Depositary Receipts, or BDRs. In a letter to the SEC, Michael Martino, founder of Mason Capital Management, a JBS shareholder, said that being publicly traded in the U.S. would enhance the company's governance. 'We see a company built over many years from nothing to $80 billion in sales,' Martino said. Write to Patrick Thomas at and Corrie Driebusch at Scale AI Gets Meta Investment That Values It at More Than $29 Billion Why Warner Boss Zaslav Is Having to Split Up the Media Empire He Built More Financial Advisers Are Outsourcing Investment Decisions Norway Wealth Fund Puts TD Bank Under Observation Live Q&A: Ask Us Your Air Safety Questions Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
