Deadly Air India plane crash renews concerns after a string of other crashes for Boeing
The crash of a Boeing 787 passenger jet in India minutes after takeoff on Thursday is putting the spotlight back on a beleaguered manufacturer though it was not immediately clear why the plane crashed. The Air India 787 went down in the northwestern city of Ahmedabad with more than 240 people aboard shortly after takeoff, authorities said.
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Forbes
an hour ago
- Forbes
Fauré Le Page Doesn't Identify As A Luxury Brand—Why That Matters
The Ladies First Bag is the Parisian Chic House's new, all-leather piece. It's rare for a heritage fashion house to dismiss the luxury label outright—especially one with 300 years of history. Yet at the recent Manila launch of Fauré Le Page's Ladies First bag, Augustin de Buffévent, the brand's Artistic & Communications Director, was quick to reject the term. 'We have nothing to do with luxury,' he stated in a matter-of-fact tone. 'We are a Parisian chic house and I am not at ease with the concept of luxury. To me, it doesn't mean anything anymore.' That distinction matters. Across Asia, brands are being forced to rethink what luxury actually means. According to a report, 87% of consumers now favor timelessness over trends while 80–92% rank material quality and craftsmanship above brand prestige when defining luxury. Meanwhile, the industry faces a reckoning with another industry report estimating the loss of some 50 million luxury buyers last year as inflation eats into purchasing power. In that context, Fauré Le Page's position feels less rebellious than it does well-calculated. The Ladies First bag marks a quiet milestone for the house. It's their first all-leather line, made from full-grain Armure Leather inspired by 18th-century cuirasses. The silhouette is structured but feminine, blending heritage with ease. Barrel-shaped clasps and bullet-like zipper pulls are subtle nods to the brand's origin as a purveyor of firearms to French nobility—though de Buffévent is quick to clarify: 'It's not a weapon. It's a weapon of seduction.' There's no rush here. Unlike fast‑fashion cycles or trendier labels vying for virality, Fauré Le Page plays a long game. 'Long-lasting items take time. We don't follow the crazy rhythm of fashion,' says de Buffévent. With rigorous 'torture tests' built into production, each bag is crafted to last—preferably a decade or more. He beams, 'I'm proud when I see someone carrying the same bag after ten years. Even more when my daughters steal bags from my wife.' I'm proud when I see someone carrying the same bag after ten years. Even more when my daughters steal bags from my wife. This slow‑craft approach aligns with evolving consumer behavior. A recent study found that 87% of luxury buyers across China, Japan, and Southeast Asia now prioritize quality, craftsmanship, and long‑term value over mere brand prestige, underscoring the rising demand for meaningful, substance‑driven luxury. The timing couldn't be more relevant. Some of the industry's biggest players have faced criticism over quality despite hiking prices. In May of this year, a TikTok user went viral after claiming that the straps of her Goyard St. Louis PM tote melted during a warm spring day, leaving stains on her shirt and questions about the bag's durability. It wasn't even summer yet. Incidents like this are fueling conversations about whether today's 'luxury' still lives up to the name. Other labels haven't been spared either: Chanel's classic flap bags have drawn complaints over uneven stitching and delicate leather, while Prada's nylon pieces have been criticized for fraying seams and faulty zippers after minimal use—all despite repeated price hikes in the last few years. So, who is the Ladies First bag made for? Forget demographics. 'I hate the term 'fashion victim,'' de Buffévent says. 'Women should create their own style. This bag is the perfect accessory for that.' With its sturdy form, refined detailing, and rich symbolism, it's less about signaling wealth and more about wearing conviction. At the launch of Fauré Le Page's Ladies First bag in Manila. Nikki Huang (Rustan's Commercial Group Merchandising Consultant), Augustin de Buffevént (Fauré Le Page Artistic & Communications Director), Anton Huang (SSI Group President) and Stephanie Chong (Fauré Le Page Philippines General Manager) Rather than chasing the new, Fauré Le Page refines what's already timeless. 'We're not in the fashion business,' he reiterates. 'Quality is at the heart.' And for a growing number of buyers, that's where real luxury now lives. In a market bloated with disposable 'It' bags and seasonal logo drops, Fauré Le Page offers a slower and sturdy alternative: one that values craft over clout, style over spectacle. With Ladies First, they are launching a new silhouette while sending a message. For those who are done with flash and ready for substance, this may be the new standard of luxury.
Business Insider
2 hours ago
- Business Insider
Boeing Stock (BA) Slides amid Potential Grounding of 787 Fleet in India
Boeing (BA) shares are down again on Friday after dropping nearly 5% the day before, as reports suggest that India's government will likely ground its Dreamliner 787-8 fleet for a safety review. This comes after one of its planes, operated by Air India, crashed shortly after takeoff, leading to the death of more than 240 people. Air India, which has been attempting to rebuild its reputation, will also face scrutiny over its aircraft maintenance procedures, despite having no recent crash history. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Investigators are focusing on whether a possible loss or reduction of engine thrust played a role in the crash, though many details remain unclear. However, CNN reported that neither a bird strike nor overloading was responsible. At the same time, India's civil aviation minister confirmed that at least one of the plane's black boxes has been recovered, which should help investigators better understand what happened. Unsurprisingly, the incident is already impacting the industry. Indeed, Boeing CEO Kelly Ortberg canceled his trip to next week's Paris Airshow, while GE Aerospace (GE), which makes the plane's engines, postponed its planned Investor Day. In the U.S., Transportation Secretary Sean Duffy and Acting FAA head Chris Rocheleau stated that they have seen no current data that suggests there is a need to ground 787 flights domestically. Nevertheless, U.S. officials, along with Boeing and GE representatives, will send a team to India to assist with the investigation. Is Boeing a Good Stock to Buy Right Now? Turning to Wall Street, analysts have a Strong Buy consensus rating on BA stock based on 16 Buys, three Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average BA price target of $220.95 per share implies 9.5% upside potential.
Yahoo
2 hours ago
- Yahoo
Stock Market Today: Stocks Make a Comeback From Trade Jitters, Boeing Crash
Stock Market Today: Stocks Make a Comeback From Trade Jitters, Boeing Crash originally appeared on TheStreet. Updated 4:30 p.m. ET Stocks ended higher Thursday, as investors reacted to inflation data, while President Donald Trump pushed for an interest rate cut. The Dow Jones Industrial Average gained 101.85 points, or 0.24%, to finish the session at 42,967.62, while the S&P 500 rose 0.38% to close 6,045.26 and the tech-heavy Nasdaq advanced 0.24% to end the day at 19,662.48. Microsoft hit a 52-week high of $480.40, while Oracle surged 13.3% after the software company beat Wall Street's fourth-quarter earnings expectations. Trump called Federal Reserve Chair Jerome Powell a 'numbskull' as he demanded an interest-rate cut, CNBC reported. Trump claimed that lowering rates by 2 percentage points would save the U.S. $600 billion per year, 'but we can't get this guy to do it.' 'We're going to spend $600 billion a year, $600 billion because of one numbskull that sits here [and says] 'I don't see enough reason to cut the rates now,'' Trump said. Trump added that he was OK with the Fed raising rates if inflation was going up. 'But it's down,' he said, 'and I may have to force something.' Updated 10:55 a.m. ET Perhaps the label to describe Thursday's market is this: It's an inertia market. It sagged at the open, (for good reason with the Air India crash), regained its footing and now is drifting into the close with modest gains. The issues that have dominated everyone's thinking at the open are still there: What will happen with tariffs? Short answer: Unclear and volatile. President Trump planned to impose unilateral tariffs on dozens of trading partners in the coming weeks unless they come up with real trade proposals. What is happening with interest rates? Short answer: The 10-year Treasury yield was at 4.36%, down from Wednesday's 4.427%. What will happen with President Trump's tax bill? Short answer: Not clear if any Senate Republicans will break with the president. How is the economy faring? Short answer: OK. Inflation is seemingly benign. Economic softness has not resulted in layoffs. How is the political stress? We'll find with the Army parade and the protests planned for around the country. One sign of rising tensions: Sen. Alex Padilla, D-Calif., was tossed out of Homeland Security Secretary Kristi Noem's Los Angeles news conference today. So, at 3:40 p.m. ET, the Standard & 500 Index was up 17 points to 6,040. The Nasdaq Composite Index was up 31 points to 19,647. The Dow Jones Industrial Average were up 61 points to 42,927. The index had been down as many as 259 points right after the open. Much of the Dow's performance was due to Boeing () , whose shares were off by nearly 5% after an Air India 787 Dreamliner crashed on takeoff from India's Ahmedabad airport. Only one of 242 people aboard survived. If Boeing was simply flat on the day, the Dow would be up nearly 125 points. So, the market is up, not a lot. But at least not down. It's just been wandering along. Updated 10:55 a.m. ET Stocks pushed into positive territory Thursday despite trade worries and the aftermath of a Boeing 787 airliner crash in India. President Trump said late Wednesday he planned to impose unilateral tariffs on dozens of trading partners in the coming weeks. The administration wants more deals now and expects to send letters to more than 150 countries saying, essentially, make trade offers now or see new tariffs imposed. Boeing () shares were off 5.2% after the Air India 787 crash on a flight to London from India's Ahmedabad airport. The plane crashed after takeoff around 12:30 a.m. EDT. Officials said 242 people aboard the plane with no survivors expected. At 10:55 a.m. EDT, the Standard & 500 Index was up 19 points to 6,041. The Nasdaq Composite Index was up nearly 58 points to 19,674. The Dow Jones Industrial Average was up 6 points to 42,873. The index had been down as many as 259 points right after the open. Much of the decline was due to Boeing. Six of 11 S&P 500 sectors were higher, led by information technology stocks. Oracle () was fueling the tech surge. Palantir Technologies () , Apple () and Microchip Technology () were among the decliners. Oracle shares were up a stunning 14% to $201.69 (a new 52-week high) after the company set the software company set 'stunning' growth targets for next year, according to one analyst. The question now is if Oracle can meet them, Barrons noted. After Wednesday's close the company reported a better than expected 11% jump in sales and targeted even higher growth ahead. The company sees a total cloud growth rate of 40% in fiscal 2026, up from 24% this year. Oracle sees cloud infrastructure growth north of 70% next year, up from 50% this year. Initial jobless claims were unchanged at 248,000, unchanged from a week ago. Many economists are watching this report closely to see how tariffs are affecting the economy. The U.S. labor market appears to be losing steam, in part because of economic uncertainty spawned by President Donald's aggressive tariffs proposals, Reuters said. Continuing claims were estimated at 1.96 million in the week through May 31. That was the highest level since November as the effects of the Covid0-19 pandemic were easing. Updated 9:55 a.m. ET Stocks opened lower on Thursday after President Trump said late Wednesday he planned to impose unilateral tariffs on dozens of trading partners in the coming weeks. But the administration wants more deals now and expects to send letters to more than 150 countries saying, essentially, make trade offers or see new tariffs imposed. The market was also weakened by a 4.4% decline to $204.53 in shares of Boeing after an Air India 787 Dreamliner crashed in India. Airline stocks were generally lower. Oracle () was up more than 10% to $195.30 after the database-software and cloud-services company logged higher-than-expected quarterly revenue and earnings. It said it expected "dramatically higher" revenue growth in the financial year that started recently. Shares of Gamestop () were down 17% to $23.73 after the gaming retailer said it wanted to raise $1.75 billion in a note offering to invest in bitcoin. At 9:55 a.m. ET, the Standard & 500 Index was down 3 points to 6,020. The Nasdaq Composite Index was off 15 points to 19,601. The Dow Jones Industrial Average was off 149 points to 42,717. Much of the decline was due to Boeing. Crude oil was lower. The 10-year Treasury yield was at 4.82%, down from Wednesday's 4.427%. Stocks were facing a weak open after President Trump said late Wednesday he planned to impose unilateral tariffs on dozens of trading partners in the coming weeks. Speaking to reporters at the Kennedy Center, he said the U.S. was very happy about its trade truce reset with China. But the administration wants more deals now and expects to send letters to more than 150 countries saying, essentially, make trade offers or see new tariffs imposed. 💸💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💸 Separately, market jitters intensified amid heightened tensions in the Middle East. Ahead of the open, futures in the Standard & Poor's 500 Index fell 34 points. Nasdaq-100 trading showed a decline of 134 points, and the futures on the Dow Jones Industrial Average were off 288 points. The cautious mood is stalling a rebound in US stocks that had brought the S&P 500 within reach of its all-time high, even as questions about the economic impact of Trump's trade agenda persisted. Decent earnings and limited economic fallout have supported the rally so far. The question is how long the optimism can last. Shares of aerospace giant Boeing () were down about 7.7% to $197.57. A 787 Dreamliner heading to London from India's Ahmedabad crashed after takeoff around 12:30 a.m. EDT. Reports say 242 people were on board. Local authorities told AP that no one appeared to have survived the crash. It was the first crash of a 787 in 14 years of service. Ahmedabad is in Gujarat state in west-central India. The market wasn't helped by another decent report on inflation. The Producer Price Index, which measures price changes that that companies receive, was up 0.1% in May, the Bureau of Labor Statistics said. On an annualized basis, the index was up 2.6% from a year earlier. Core PPI, which strips out energy and prices, was up 2.7%. It probably means the Federal Reserve won't raise interest rates at next week's meeting. Some good news on the earnings front: Oracle () shares were up nearly 9% in premarket trading after the software stalwart beat estimates and offered positive guidance. Stock Market Today: Stocks Make a Comeback From Trade Jitters, Boeing Crash first appeared on TheStreet on Jun 12, 2025 This story was originally reported by TheStreet on Jun 12, 2025, where it first appeared. 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
