Airbus Seeks Middle East Comeback After Boeing's Major May Haul
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Airbus SE is looking to stage a comeback in June with a flurry of fresh orders after arch-rival Boeing Co. logged its biggest-ever deal this month that left the European planemaker empty-handed.
The aircraft manufacturer is turning its focus to the Paris Air Show taking place in the middle of the month, where some carriers from the Middle East are poised to order more widebody aircraft.
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Yahoo
39 minutes ago
- Yahoo
US, China to launch new talks on tariff truce extension, easing path for Trump-Xi meeting
By David Lawder STOCKHOLM (Reuters) -Top U.S. and Chinese economic officials will resume talks in Stockholm on Monday to try to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce by three months and keeping sharply higher tariffs at bay. China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached preliminary deals in May and June to end weeks of escalating tit-for-tat tariffs and a cut-off of rare earth minerals. Without an agreement, global supply chains could face renewed turmoil from U.S. duties snapping back to triple-digit levels that would amount to a bilateral trade embargo. The Stockholm talks come hot on the heels of Trump's biggest trade deal yet with the European Union on Sunday for a 15% tariff on most EU goods exports to the U.S., including autos. The bloc will also buy $750 billion worth of American energy and make $600 billion worth of U.S. investments in coming years. No similar breakthrough is expected in the U.S.-China talks but trade analysts said that another 90-day extension of a tariff and export control truce struck in mid-May was likely. An extension of that length would prevent further escalation and facilitate planning for a potential meeting between Trump and Chinese President Xi Jinping in late October or early November. A U.S. Treasury spokesperson declined comment on a South China Morning Post report quoting unnamed sources as saying the two sides would refrain from introducing new tariffs or other steps that could escalate the trade war for another 90 days. Trump's administration is poised to impose new sectoral tariffs that will impact China within weeks, including on semiconductors, pharmaceuticals, ship-to-shore cranes and other products. "We're very close to a deal with China. We really sort of made a deal with China, but we'll see how that goes," Trump told reporters on Sunday before European Commission President Ursula von der Leyen struck their tariff deal. DEEPER ISSUES Previous U.S.-China trade talks in Geneva and London in May and June focused on bringing U.S. and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia's H20 AI chips and other goods halted by the United States. So far, the talks have not delved into broader economic issues. They include U.S. complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Beijing's complaints that U.S. national security export controls on tech goods seek to stunt Chinese growth. "Geneva and London were really just about trying to get the relationship back on track so that they could, at some point, actually negotiate about the issues which animate the disagreement between the countries in the first place," said Scott Kennedy, a China economics expert at the Center for Strategic and International Studies in Washington. "I'd be surprised if there is an early harvest on some of these things but an extension of the ceasefire for another 90 days seems to be the most likely outcome," Kennedy said. U.S. Treasury Secretary Scott Bessent has already flagged a deadline extension and has said he wants China to rebalance its economy away from exports to more domestic consumption -- a decades-long goal for U.S. policymakers. Analysts say the U.S.-China negotiations are far more complex than those with other Asian countries and will require more time. China's grip on the global market for rare earth minerals and magnets, used in everything from military hardware to car windshield wiper motors, has proved to be an effective leverage point on U.S. industries. TRUMP-XI MEETING? In the background of the talks is speculation about a possible meeting between Trump and Xi in late October. Trump has said he will decide soon on a landmark trip to China, and a new flare-up of tariffs and export controls would likely derail planning. Sun Chenghao, a fellow at Tsinghua University's Center for International Security and Strategy in Beijing, said that a Trump-Xi summit would be an opportunity for the U.S. to lower the 20% tariffs on Chinese goods related to fentanyl. In exchange, he said the Chinese side could make good on its 2020 pledge to increase purchases of U.S. farm products and other goods. "The future prospect of the heads of state summit is very beneficial to the negotiations because everyone wants to reach an agreement or pave the way in advance," Sun said. Still, China will likely request a reduction of multi-layered U.S. tariffs totaling 55% on most goods and further easing of U.S. high-tech export controls, analysts said. Beijing has argued that such purchases would help reduce the U.S. trade deficit with China, which reached $295.5 billion in 2024. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
an hour ago
- Yahoo
A More Affordable EV Won't Save Tesla
Key Points Tesla fell 5% after hours on its second-quarter earnings report. Some investors saw production of a new, more affordable vehicle as a positive sign. The company launched its robotaxi network in June. These 10 stocks could mint the next wave of millionaires › Tesla (NASDAQ: TSLA) issued another disappointing earnings report on Tuesday. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service The leading electric vehicle (EV) maker finished the after-hours session down 5%, but the sell-off could have been worse. The company reported a decline in both sales and profit. Revenue was down 12% to $22.5 billion, and adjusted net income was down 23% to $1.39 billion, or $0.40 per share. Those numbers actually topped a muted revenue estimate at $22.13 billion, while the bottom-line consensus matched the results at $0.40. Tesla's problems have been well-documented at this point. CEO Elon Musk's turn in the political spotlight seemed to backfire after his relationship with President Donald Trump went sour. Due in part to Musk's involvement with politics, the brand has become unappealing in the eyes of some potential buyers, leading to a 16% decline in automotive revenue. Sales have plunged in Europe, and the company is losing ground to more affordable Chinese EVs. One seemingly bright spot Musk has a long history of overcoming weak results by telling investors what they want to hear on the earnings call, including making big promises about its robotaxi network and other initiatives in autonomy like its Optimus robot. He seemed to do that again on the latest earnings call, with some comments about the more affordable model he has long promised, which some have dubbed the Tesla Model 2. Musk said that the company started production of the vehicle in June and is ramping up production now. He added: "The goal with those products was not to negatively impact revenue or gross margin, but just to make a car that everyone loves and wants at a more affordable price." Musk has long argued that price competition was one of the biggest headwinds facing the company, but the brand crisis seems to have overshadowed that. By introducing its own lower-priced model, Tesla may end up cannibalizing its more expensive vehicles. Customers may be choosing between a more expensive Tesla and that lower-priced model, rather than another brand. The new vehicle is just a cheaper Model Y, rather than a brand-new vehicle model. The robotaxi initiative The biggest reason Tesla has maintained its premium valuation even as sales and profits have tumbled is that investors believe that Tesla's robotaxi network could go mainstream, fulfilling Musk's long-term vision. However, the robotaxi has gotten off to only a modest start after launching in June, and it seemed to get less attention on Tuesday's earnings call, though Musk reminded the audience: "As you can tell, autonomy is the story." Management said that robotaxis in Austin, Texas have topped 7,000 miles with no significant safety interventions. The company is aiming to launch the robotaxi in the San Francisco Bay Area next. Tesla needs growth in its core business Investors have bid up Tesla stock on hopes for its initiatives in robotaxis and more affordable vehicles, but the company needs to return to growth in selling EVs for the stock to be successful over the long term. The decline in EV sales is a reflection of a backlash against Tesla's brand. The company is also expected to struggle over the next few quarters due to the elimination of the EV tax credit and a change in other federal policies that supported EV adoption. The company also faces a $300 million effect from tariffs. Tesla could get back on track, especially if the robotaxi network takes off. But the current valuation in the stock leaves little room for upside if it does, especially given the persistent challenges in EV sales. While a more affordable vehicle might be a step in the right direction, it seems more likely to undercut demand for Tesla's more expensive vehicles, rather than competing with alternatives. Should you buy stock in Tesla right now? The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. A More Affordable EV Won't Save Tesla was originally published by The Motley Fool 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
UPI
an hour ago
- UPI
Boeing machinists who build fighter jets reject contract, plan strike
A large American flag is hoisted behind a Boeing F/A-18 E1 Super Hornet jet before dedication ceremonies at the National Museum of Transportation in Kirkwood, Mo., on August 3, 2024. Machinists at three plants in the St. Louis area the product fight jets rejected a contract. File Photo by Bill Greenblatt/UPI | License Photo July 27 (UPI) -- Several thousand Boeing union workers at three St. Louis-area plants who build fighter jets are planning to go on strike after rejecting a proposed contract Sunday that would pay an average of than $100,000 per year. Members of the International Association of Machinists and Aerospace Workers at Boeing factories in St. Louis and St. Charles in Missouri and Mascoutah in Illinois voted against the new contract that included a 20% wage increase over four years. The contract for District 837 members will expire at 11:59 p.m. CDT at which point there is a seven-day cooling-off period before a strike could start. In all, there are 16,000 employees at the three locations, according to St. Louis Business Journal Research. "IAM Union members delivered a clear message: the proposal from Boeing Defense fell short of addressing the priorities and sacrifices of the skilled IAM Union workforce," the union said in a news release. "Our members are standing together to demand a contract that respects their work and ensures a secure future." Boeing and the union representing the machinists on Thursday reached an agreement on a four-year contract that would boost annual salaries to $102,600 with an 8% increase in the first year and 4% for the other three years. "This contract puts money in members' pockets, protects healthcare access, and ensures our members have a voice in future health decisions all while respecting the skill and dedication IAM workers bring to Boeing's critical defense programs," IAM Union International President Brian Bryant said after the tentative contract. The total increase would be 40% when including other benfits. There was a $5,000 ratification bonus. Boeing said the current average hourly pay of $35 is $6 higher than three years ago. "The IAM Union remains committed to achieving a fair contract that meets the needs of our members," the union said. "The IAM Union looks forward to returning to the bargaining table with Boeing's leadership to deliver meaningful improvements that support the well-being and livelihoods of IAM members and their families." IAM, with approximately 600,000 active and retired workers, is one of North America's largest and most diverse industrial trade unions. They represent workers in aerospace/airlines, defense, shipbuilding, railroads/transit, healthcare and automotive in the United States and Canada. "We're disappointed our employees voted down the richest contract offer we've ever presented to IAM 837 which addressed all their stated priorities," Dan Gillian, Boeing Air Dominance vice President, said in a statement, obtained by KSDK-TV. "We've activated our contingency plan and are focused on preparing for a strike. No talks are scheduled with the union." Last year, Boeing machinists in the Pacific Northwest were in a 54-day strike that shut down airplane production. Ultimately, they agreed to an immediate pay boost of 13% and a total of 44% over four years when compounded. Boeing has more than 170,000 employees worldwide. The vote came two days before Boeing plans to announce its second-quarter earnings.
