Saudi Arabia set to place orders for dozens of Airbus jets, Reuters says
Saudi Arabia is set to place orders for billions of dollars of Airbus (EADSY) jets as the kingdom balances suppliers in its quest to match the aviation growth of Gulf neighbors, industry sources said, according to Reuters. Leasing company AviLease, which placed an order for 30 Boeing (BA) 737 MAX jets during a visit to the region this month by U.S. President Donald Trump, could place a comparable order for Airbus A320neo jets at next month's Paris Airshow, they said.
Confident Investing Starts Here:
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Asian shares slide as Russia-Ukraine conflict, OPEC+ output plan push oil prices higher
HONG KONG (AP) — Asian shares sank on Monday and oil prices jumped as trade tensions and the Russian-Ukraine conflict ratcheted up geopolitical uncertainty. Hong Kong's Hang Seng plunged more than 2% as Beijing and Washington traded harsh words over trade. U.S. President Donald Trump's announcement that he will double tariffs on steel and aluminum to 50% layered on still more worries for investors. A report over the weekend that China's factory activity contracted in May, although the decline slowed from April as the country reached a deal with the U.S. to slash President Donald Trump's sky-high tariffs, further undermined market sentiment. Markets in mainland China were closed for a holiday. Oil prices rallied after OPEC+ decided on a modest increase in output beginning in July. It was the third monthly increase in a row. U.S. benchmark crude oil gained $1.60 to $62.39 per barrel, while Brent crude, the international standard, was up $1.41 at $64.19 per barrel. Moscow pounded Ukraine with missiles and drones just hours before a new round of direct peace talks in Istanbul and a Ukrainian drone attack destroyed more than 40 Russian planes deep in Russia's territory, Ukraine's Security Service said on Sunday. Hong Kong's Hang Seng dropped 2.2% to 22,778.45 as China and the U.S. accused each other of breaching their tariff agreement reached in Geneva last month. Tokyo's Nikkei 225 lost 1.6% to 37,356.97, while the Kospi in Seoul fell 0.4% to 2,686.17. Australia's S&P/ASX 200 retreated 0.2% to 8,416.00. On Friday, Wall Street closed its best month since 2023. The S&P 500 retreated less than 0.1% to end at 5,911.69 and the Dow industrials Jones Industrial Average edged 0.1% higher to 42,270.07. The Nasdaq composite fell 0.3% to 19,113.77. Gap weighed on the market even though the retailer reported stronger profit and revenue for the latest quarter than analysts expected. The company behind Banana Republic and Old Navy fell 20.2% after saying tariffs on imports from China and other countries could add up to $300 million to its costs this fiscal year. It has strategies set to mitigate up to half of that before it hits its profits. Hopes had largely been rising that the worst of such worries had passed, which in turn sent stocks rallying, after Trump paused his tariffs on both China and the European Union. A U.S. court then on Wednesday blocked many of Trump's sweeping tariffs. That all sent the S&P 500 in May to its first winning month in four and its best since November. But the tariffs remain in place while the White House appeals the ruling by the U.S. Court of International Trade, and the ultimate outcome is still uncertain. Friday's most influential losses came from several Big Tech stocks. Nvidia fell 2.9% to give back some of its gain from earlier in the week after it topped analysts' expectations for profit in the latest quarter. It was the single heaviest weight by far on the S&P 500. On the winning side of Wall Street was Ulta Beauty, which rose 11.8% after the retailer reported stronger sales and profit than analysts forecast. It also raised the top end of its forecasted range for revenue this fiscal year even though CEO Kecia Steelman called the operating environment 'fluid.' Costco climbed 3.1% after the retailer's results and revenue for the latest quarter edged past analysts' expectations. In the bond market, Treasury yields eased after a report showed that the measure of inflation that the Federal Reserve likes to use was slightly lower in April than economists expected. A separate report from the University of Michigan said that sentiment among U.S. consumers was better in May than economists expected. Sentiment improved in the back half of the month after Trump paused many of his tariffs on China. In currency trading early Monday, the U.S. dollar fell to 143.55 Japanese yen from 143.87 yen. The euro inched up to $1.1364 from $1.1351. 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
Business Upturn
an hour ago
- Business Upturn
Steel shares fall after Trump doubles US tariffs: JSW Steel down 1.29%, Tata Steel down 0.98%, SAIL down 1.20%, Jindal Steel down 0.57%
By Aditya Bhagchandani Published on June 2, 2025, 09:28 IST Shares of leading Indian steel manufacturers came under pressure on Monday, June 2, after former US President Donald Trump announced a significant hike in import tariffs on steel and aluminium. The Nifty Metal index fell 0.87% to 9,113.65. Among major losers: JSW Steel declined 1.29% to ₹980.65 Tata Steel slipped 0.98% to ₹159.44 SAIL (Steel Authority of India) dropped 1.20% to ₹127.63 Jindal Steel & Power was down 0.57% at ₹943.45 The pressure came after Trump, during a speech in Pennsylvania, vowed to double existing tariffs on steel and aluminium to 50%. In a later post on Truth Social, he confirmed the hike would come into effect on June 4 under Section 232 of the US Trade Expansion Act, citing national security risks. India exported $4.56 billion worth of steel and aluminium products to the US in FY25, including $3.1 billion in value-added steel articles. The US is a key market for Indian steelmakers due to its high consumption and favorable pricing environment. Experts believe the tariff hike could directly impact Indian exporters and potentially lead to trade diversion. Industry leaders, including those from JSW Steel and AMNS India, have called for proactive trade measures to protect domestic interests amid the shifting global landscape. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Associated Press
an hour ago
- Associated Press
Asian shares slide as Russia-Ukraine conflict, OPEC+ output plan push oil prices higher
HONG KONG (AP) — Asian shares sank on Monday and oil prices jumped as trade tensions and the Russian-Ukraine conflict ratcheted up geopolitical uncertainty. Hong Kong's Hang Seng plunged more than 2% as Beijing and Washington traded harsh words over trade. U.S. President Donald Trump's announcement that he will double tariffs on steel and aluminum to 50% layered on still more worries for investors. A report over the weekend that China's factory activity contracted in May, although the decline slowed from April as the country reached a deal with the U.S. to slash President Donald Trump's sky-high tariffs, further undermined market sentiment. Markets in mainland China were closed for a holiday. Oil prices rallied after OPEC+ decided on a modest increase in output beginning in July. It was the third monthly increase in a row. U.S. benchmark crude oil gained $1.60 to $62.39 per barrel, while Brent crude, the international standard, was up $1.41 at $64.19 per barrel. Moscow pounded Ukraine with missiles and drones just hours before a new round of direct peace talks in Istanbul and a Ukrainian drone attack destroyed more than 40 Russian planes deep in Russia's territory, Ukraine's Security Service said on Sunday. Hong Kong's Hang Seng dropped 2.2% to 22,778.45 as China and the U.S. accused each other of breaching their tariff agreement reached in Geneva last month. Tokyo's Nikkei 225 lost 1.6% to 37,356.97, while the Kospi in Seoul fell 0.4% to 2,686.17. Australia's S&P/ASX 200 retreated 0.2% to 8,416.00. On Friday, Wall Street closed its best month since 2023. The S&P 500 retreated less than 0.1% to end at 5,911.69 and the Dow industrials Jones Industrial Average edged 0.1% higher to 42,270.07. The Nasdaq composite fell 0.3% to 19,113.77. Gap weighed on the market even though the retailer reported stronger profit and revenue for the latest quarter than analysts expected. The company behind Banana Republic and Old Navy fell 20.2% after saying tariffs on imports from China and other countries could add up to $300 million to its costs this fiscal year. It has strategies set to mitigate up to half of that before it hits its profits. Hopes had largely been rising that the worst of such worries had passed, which in turn sent stocks rallying, after Trump paused his tariffs on both China and the European Union. A U.S. court then on Wednesday blocked many of Trump's sweeping tariffs. That all sent the S&P 500 in May to its first winning month in four and its best since November. But the tariffs remain in place while the White House appeals the ruling by the U.S. Court of International Trade, and the ultimate outcome is still uncertain. Friday's most influential losses came from several Big Tech stocks. Nvidia fell 2.9% to give back some of its gain from earlier in the week after it topped analysts' expectations for profit in the latest quarter. It was the single heaviest weight by far on the S&P 500. On the winning side of Wall Street was Ulta Beauty, which rose 11.8% after the retailer reported stronger sales and profit than analysts forecast. It also raised the top end of its forecasted range for revenue this fiscal year even though CEO Kecia Steelman called the operating environment 'fluid.' Costco climbed 3.1% after the retailer's results and revenue for the latest quarter edged past analysts' expectations. In the bond market, Treasury yields eased after a report showed that the measure of inflation that the Federal Reserve likes to use was slightly lower in April than economists expected. A separate report from the University of Michigan said that sentiment among U.S. consumers was better in May than economists expected. Sentiment improved in the back half of the month after Trump paused many of his tariffs on China. In currency trading early Monday, the U.S. dollar fell to 143.55 Japanese yen from 143.87 yen. The euro inched up to $1.1364 from $1.1351.
