Market News
China Eastern Airlines (CEA)
The merger of China Eastern Airlines (NYSE:CEA) and Shanghai Airlines will save 680 million yuan of investment for the new China Eastern this year, noted Ma Xulun, general manager of China Eastern, according to iStockAnalyst.
Ma said that the two airlines' business restructuring is progressing. So far the marketing, IT, and ground service businesses have been basically completed. The restructuring program for the cargo and logistics business is still being formulated. The airline industry worldwide, continues to redesign itself in hopes of creating a more profitable and more efficient transportation industry.
Mar 22 · 9:22:00 AM · Source: iStockAnalyst
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by Steve Wieczorek
AMR (AMR)
American Airlines (NYSE:AMR) took the biggest dive of the day. The US Federal Aviation Administration (FAA) proposed over $1 million in fines against the carrier, for alleged safety violations, according to the Centre for Asia Pacific Aviation. The proposed fines cover four separate instances where the FAA alleges that American was negligent in either maintaining aircraft or following proper maintenance procedures.
The fines come only weeks after the FAA commented that it was considering a record high $20 million in penalties against American. American Airlines stated it is reviewing the fines and will meet with the FAA to discuss the situation.
Mar 22 · 8:56:00 AM · Source: Centre for Asia Pacific Aviation
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by Steve Wieczorek
CPI
Tthe Consumer Price Index was unchanged in February, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the index increased 2.1 percent before seasonal adjustment.
Monthly consumer price inflation hasn't been this low since March of last year
Mar 18 · 11:36:00 AM · Source: Company Press Release
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by Larry Etter
Unemployment
Less Americans filed first-time claims for jobless benefits last week for the third consecutive time, the Labor Department reported today. The advance figure for seasonally adjusted initial claims was 457,000, a decrease of 5,000 from the previous week's unrevised figure of 462,000. The 4-week moving average was 471,250, a decrease of 4,250 from the previous week's unrevised average of 475,500.
This is a sign the labor market is gradually improving along with the economy.
Mar 18 · 11:33:00 AM · Source: Company Press Release
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by Larry Etter
Sprint Nextel (S)
Sprint (NYSE:S) and Axeda Corporation announced today an alliance to make it easier, faster and more cost-efficient for businesses to take machine-to-machine (M2M) solution ideas from concept to completion and deliver connected products using the Sprint 3G network and the Axeda(R) Platform.
Mar 18 · 11:24:00 AM · Source: Company Press Release
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by Larry Etter
AT&T (T)
AT&T* announced today that it has deployed Network Disaster Recovery (NDR) resources to Chile as a preventive measure to ensure business continuity of the AT&T node in Santiago. The action is in response to a series of natural disasters that have affected the South American country since the devastating earthquake of February 27, which was followed by tsunamis and various aftershocks.
Mar 18 · 11:22:00 AM · Source: Company Press Release
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by Larry Etter
Comerica (CMA)
Comerica Incorporated today
announced that it has redeemed the $2.25 billion of preferred stock issued
to the U.S. Department of the Treasury under the Troubled Asset Relief
Program's Capital Purchase Program (TARP), five days after completing the
public issuance of $880 million of its common stock. In addition to the
$2.25 billion redemption payment, Comerica paid the U.S. Treasury a total of
$150.9 million in dividends on the preferred stock since the date it was
issued in November 2008.
By repaying the TARP investment, Comerica will eliminate the annual $134
million negative impact to net income to common shareholders related to the
preferred stock.
Mar 18 · 11:19:00 AM · Source: Company Press Release
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by Larry Etter
CB Richard Ellis Group (CBG)
CB Richard Ellis Group, Inc. today announced a significant expansion of its solar energy services capabilities and an enhanced commitment to sustainable property ownership through the launch of CBRE Solar. CBRE Solar will provide services to the Company's clients, initially in the United States and Canada. Its service offering encompasses a broad range of solar energy solutions for clients, including solar power purchase agreements, roof leases, advisory services, project development services, project management services and solar project investment opportunities.
Mar 18 · 11:17:00 AM · Source: Company Press Release
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by Larry Etter
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