logo
Bombardier secures $1.7 billion aircraft order with service deal

Bombardier secures $1.7 billion aircraft order with service deal

Reutersa day ago
June 30 (Reuters) - Bombardier (BBDb.TO), opens new tab said on Monday it had received an order for 50 of its Challenger and Global aircraft, alongside a service agreement, valued collectively at $1.7 billion, with deliveries scheduled to commence in 2027.
Bombardier said the customer, who has chosen to remain anonymous, would hold 70 new aircraft purchase options, which, if exercised, would increase the combined value of the aircraft and service agreements to over $4 billion.
Earlier this year, the company said it expects new order activity to be slower through the first half of the year and to pick up after that.
The Montreal-based company said in May that it expects to deliver more than 150 business jets this year, compared with 146 in 2024.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Biggest US banks hike dividends, announce share buybacks after acing stress tests
Biggest US banks hike dividends, announce share buybacks after acing stress tests

Reuters

time34 minutes ago

  • Reuters

Biggest US banks hike dividends, announce share buybacks after acing stress tests

NEW YORK, July 1 (Reuters) - U.S. banking giants announced plans on Tuesday to raise their third-quarter dividends after clearing the Federal Reserve's annual health check last week. The moves come after the lenders showed they have enough capital to withstand scenarios including a severe economic downturn, spiking unemployment and market turmoil. JPMorgan Chase (JPM.N), opens new tab, the nation's largest bank, raised its dividend to $1.50 a share from $1.40, according to a regulatory filing. It also announced a new $50 billion share repurchase program, effective on Tuesday and with an unspecified end date. "The board's intended dividend increase, our second this year, represents a sustainable level of capital distribution to our shareholders and is supported by our strong financial performance," JPMorgan CEO Jamie Dimon said. "The new share repurchase program provides the ability to distribute capital to our shareholders over time, as we see fit," Dimon said, adding that the stress test shows that banks are resilient. Separately, Bank of America (BAC.N), opens new tab will raise its dividend by 8% to 28 cents per share, while Wells Fargo (WFC.N), opens new tab increased it to 45 cents a share from 40 cents, they said in separate filings. Morgan Stanley's board has approved a new $20 billion share repurchase program without specifying an end date and also plans to raise its quarterly dividend to $1 per share. Goldman Sachs' (GS.N), opens new tab dividend will climb to $4 from $3, while Citigroup's (C.N), opens new tab will go up to 60 cents from 56 cents. On average, the Fed's stress test found banks retained an average 11.6% ratio of their common equity Tier 1 capital, well above the 4.5% minimum required by regulators. The nation's six largest banks all retained double-digit capital ratios under the test. The Fed is in the process of overhauling the way the test is conducted. The regulator proposed in April that the results should be averaged over two years, which could lead to less volatility in outcomes. "The Federal Reserve has expressed its intention to institute a more transparent and fair approach to these tests, as it looks to uphold the safety and soundness of our financial system," Goldman CEO David Solomon said. JPM's Dimon also said that the new stress testing models could provide more transparency. That rule-writing project is still ongoing, but the central bank said on Friday that if the 2025 and 2024 results were averaged, banks would have needed to set aside more capital to meet the requirements. Source: Regulatory filing

US federal workforce remains steady despite Trump's efforts
US federal workforce remains steady despite Trump's efforts

Reuters

timean hour ago

  • Reuters

US federal workforce remains steady despite Trump's efforts

WASHINGTON, July 1 (Reuters) - President Donald Trump's administration on Tuesday reported having 2.3 million people on federal payrolls in March, almost unchanged from prior months despite the Republican's efforts to shrink the size of government. The Office of Personnel Management, which functions as the HR department for the federal government, published figures on Tuesday on hiring and firing across thousands of government offices, with growth in some areas of government largely canceling out cuts elsewhere. Overall, the number of federal jobs – excluding postal workers and the military – was down about 23,000 from September, the last published report on overall staffing levels. To be sure, the numbers are only through March and Trump, who took office in January, has continued efforts to shrink the federal workforce. The administration has signed deals, for example, with at least 75,000 federal workers, agreeing to pay them for several months before they resign. A spokesperson at the Office of Personnel Management said hundreds of thousands of such workers will drop off federal payrolls in October. 'This data marks the first measurable step toward President Trump's vision of a disciplined, accountable federal workforce and it's only the beginning,' Acting OPM Director Chuck Ezell said in a statement. Trump, with help from former adviser Elon Musk, kicked off a sweeping campaign in January to shutter federal offices and cut jobs. Federal worker unions and their allies pushed back in court, with judges ordering agencies in some cases to rescind or pause the firings. The new figures show a nosedive in hiring, which dropped by half in February from January. OPM ordered, opens new tab federal agencies to pause hiring on Inauguration Day, with exceptions for positions related to immigration, national security or public safety. The federal government hired fewer than 5,000 people in January, compared to about 20,000 in December before Trump returned to the White House. The Labor Department's own estimates on the size of the federal workforce, which are based on surveys of government payrolls rather than the Office of Personnel Management's more precise tally, have pointed to further tiny declines in federal employment in April and May. The figures released on Tuesday showed payrolls at the Social Security Administration, which administers pensions and other payments for millions of elderly Americans, had fallen to about 56,000 in March, down from about 58,000 in September. Payrolls at the Department of Homeland Security, which leads the president's efforts to crack down on illegal immigration, rose to about 232,000 in March from 228,000 in September.

$1m per game? Thunder sign Gilgeous-Alexander to record $285m extension
$1m per game? Thunder sign Gilgeous-Alexander to record $285m extension

The Guardian

timean hour ago

  • The Guardian

$1m per game? Thunder sign Gilgeous-Alexander to record $285m extension

Shai Gilgeous-Alexander and the Oklahoma City Thunder have agreed on a record-setting four-year, $285m extension that would give him the highest single-season average salary in NBA history, a person with knowledge of the agreement said Tuesday. The person spoke to the Associated Press on condition of anonymity because the deal has not been publicly announced and likely won't be until the league's moratorium on most offseason signings is lifted on Sunday. ESPN first reported on the agreement. News of the deal comes on Canada Day, a fitting coincidence for the 26-year-old from Ontario who is coming off a season like few others in NBA history. Not only did Gilgeous-Alexander lead the Thunder to their first NBA championship and the league's best record, he swept most major individual awards – winning regular-season and NBA finals MVP honors and the scoring title. The supermax extension was not unexpected. It was a question of timing; he could have taken a deal with an even higher total value next summer. Based on the NBA's most recent salary cap projections – the exact numbers will not be finalized until June 2027 – Gilgeous-Alexander would make somewhere around $63m in the first season and nearly $79m during the 2030-31 season. That would put him at an average payout of about $1m per regular season game, and would be the highest single-season salary in NBA history. Gilgeous-Alexander didn't enter the league with superstar expectations. He was the 11th overall pick in the 2018 draft, and he was traded from the Los Angeles Clippers to the Thunder after his rookie year. He has been on an upward trajectory ever since, and Thunder general manager Sam Presti believes that will continue. 'He's gotten better every single year,' Presti said. 'His mindset has allowed him to take these steps and also not – I don't feel like his progress is, like, volatile. I don't know if that makes sense, but I don't feel like it's built on things that can't be repeated and built up again.' Presti referred to Gilgeous-Alexander as a 'basketball artist' because he has the emotional intelligence to know when to call upon his various gifts. 'I just think he's got left and right brain working, and I think when you think about people that are extremely successful in what they do, they can't operate all on one side or the other,' Presti said. 'People have to have – to me, the great people in life, business, sports, any industry, have to be able to access both sides, a creative side and then also a very objective side.' The Thunder are set to be contenders for years. Their best player is in place long-term, all their major players are under contract through at least next season and Presti has a slew of draft picks stashed from previous trades. 'We definitely still have room to grow,' Gilgeous-Alexander said after the Game 7 win over the Indiana Pacers. 'That's the fun part of this. So many of us can still get better. There's not very many of us on the team that are 'in our prime' or even close to it.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store