Up until that time, the company will produce 17 more A380s, including 14 for Emirates and 3 for Japanese airline ANA. This decision came after Emirates cut back orders of the iconic aircraft in favor of 70 smaller A350 and A330neo models.The decision is not without consequences, as 3,000-3,500 jobs may be jeopardized. However, being a favorite among flyers and also a key differentiator, Emirates CEO and Chairman has assured that they will continue using Airbus’ flagship aircraft well into 2030s. Airbus’ president has expressed regret over Emirates’ decision, but he understands the changing and competitive nature of the industry that now sees A330neo and A350 crucial for future growth.

The company apparently faced headwinds from tariffs, inflation and currency exchange rates. For the full year 2018, Newell incurred a net loss of -$6.9 billion for the year, compared to net income of $2.7 billion in 2017.Its net sales for the year declined by -9.6% to $8.6 billion, from $9.6 billion in 2017.  As for the company’s projections for 2019, it expects adjusted earnings per share in the range of $1.50 to $1.65 – compared with FactSet consensus expectation of $1.91.

Fannie Mae and Freddie Mac are expected to pay a combined $4.7 billion in dividends to the U.S. Treasury Department by March, as the housing finance agencies posted stronger annual 2018 net incomes than a year earlier. In September 2008, the federal government took control of the two enterprises in a $187 billion bailout during the global credit crisis, after they were exposed to failed subprime mortgages.The two agencies have handed over their profit to the U.S. Treasury under the terms of the conservatorship. Fannie and Freddie make money by charging fees to guarantee home loans made by banks and other lenders.

The outlook for Wall Street earnings has deteriorated significantly in recent months, data shows, raising the risk that companies in the United States may slip into recession before its economy does - with Europe close behind.   Read more...

Amazon has decided it won't build its so-called HQ2 in New York.The company abruptly pulled out of the deal that would have brought approximately 25,000 jobs to the city. Local politicians and activists objected to the nearly $3 billion in incentives promised to what is already one of the world's richest, most powerful companies. "We are disappointed to have reached this conclusion — we love New York," the online giant retailer said in a blog post announcing its withdrawal. Amazon announced in November that it had chosen the Long Island City section of Queens for one of two new headquarters, with the other in Arlington, Virginia.

The company’s snack business  registered +4% organic revenue growth in North America for the quarter.  PepsiCo.’s fiscal fourth-quarter net income came in at $6.85 billion (or $4.83 per share), compared to a loss of -$710 million, (or -50 cents per share) of the year-ago quarter.  However, Pepsi has apparently lowered its hopes for full-year 2019 earnings, owing to currency exchange rates headwinds, increased advertising/marketing expenses, and an expected hike in the effective tax rate to 21 percent from 18.8 percent.

Chinese ride-hailing giant Didi Chuxing is planning to lay off about 2,000 people, or 15 percent of its workforce, this year, a source familiar with the situation said Friday. Read More...

Warren Buffett’s Berkshire Hathaway Inc. took advantage of a plunge in bank stocks to pile even further into his bet on financials, while trimming a giant stake in Apple Inc. Read More...

The first cryptocurrency created by a major U.S. bank is here — and it's from J.P. Morgan Chase. Read More...

The Social Security Administration is now paying benefits to more than half a million Americans living outside the United States—a number that has been steadily rising.One big reason for that rise is that many Americans have not saved enough money to live in retirement the way they would want to in the United States once they are on Social Security.   READ MORE...

The U.S. Federal Reserve’s new “wait and see” policy approach will still probably lead to one interest-rate hike before year end, and another in 2020, a top Fed official said on Wednesday. Offering a clearer picture of his policy expectations than most other U.S. central bankers, Philadelphia Fed President Patrick Harker said the U.S. economy is generally in good shape and risks are only very slightly tilted to the downside.READ MORE...

job openings surged to a record high in December, led by vacancies in the construction and accommodation and food services sectors, strengthening analysts’ views that the economy was running out of workers.READ MORE...

Barclays and J.P. Morgan on Thursday reduced their estimates on U.S. economic growth in the final quarter of 2018 following data that showed domestic retail sales took a 1.2 percent spill in December, which was its steepest monthly drop in nine years.READ MORE...

retail sales recorded their biggest drop in more than nine years in December as receipts fell across the board, suggesting a sharp slowdown in economic activity at the end of 2018.READ MORE...

With this IPO, the company seeks to raise $100 million, with the intention to trade on the NYSE floor under the ticker LEVI. The underwriting process for the IPO will be led by JP Morgan (JPM) and Goldman Sachs (GS).Levi Staruss’s net income up to Nov 25, 2018 stood at $285 million - up 1.4% from the previous year.

The move could help Ford and VW save billions of dollars by sharing R&D efforts. But now it seems highly unlikely that both companies can find common ground when it comes to battery-electric vehicles.According to company officials, their programs are out of sync, and the timing just doesn’t seem to match. With the global business environment becoming more challenging every day, auto manufacturers across the globe are continuously looking for partners -- even if they are rivals.

IBM and Banco Santander have recently entered into a five-year global technology agreement, valued at $700 million to boost Santander’s digital transformation. For Santander, the five-year global technology agreement is in-line with the Spanish lender's business transformation program.The company is seeking to move to a more open, flexible and modern IT environment that delivers better and more innovative digital services for its customers. For IBM, this marks a good start for 2019 as it continues to rack-up a huge $700 million financial services contract, as well as agreements with ICBC Argentina and the card unit of Hyundai and Kia Motors. Following this deal, Santander is set to use the IBM's A.I., blockchain and big data offerings, which is expected to help in the transition of the of the bank's IT infrastructure into a hybrid and multi-color environment. The Spanish lender plans to use IBM’s Watson to improve customer experience, enhance branch advisors expertise and increase

The U.S. and China remain deadlocked on key issues blocking the path toward a trade agreement, according to multiple reports published on Thursday, as representatives for the two countries meet in Beijing. The Chinese government's alleged forced technology transfers as well as its subsidization of domestic industries remain central sticking points as the world's two largest economies try to find common ground on a broad trade deal.READ MORE...

China is reportedly promising to buy semiconductors and other U.S. products in an attempt to alleviate trade tensions with the U.S., according to a Wall Street Journal report Thursday. The olive branch is meant to persuade President Donald Trump to extend a temporary truce over tariffs, according to the report, which cited people with knowledge of the matter.READ MORE...

NetApp Inc.’s fiscal third-quarter revenue fell short of analysts’ estimates, leading to its shares declining -8.8% Thursday. The hybrid cloud & data storage/management company’s revenue increased +2% year-over-year to touch $1.56 billion in the fiscal third-quarter, but still missed analysts’ expectation of $1.60 billion (based on FactSet poll). Nevertheless, the company reported adjusted earninsg of $1.20 a share for the quarter, thereby beating analysts' expectations of $1.15 a share (based on FactSet poll).The company is expecting revenue to range from $1.59 billion to $1.69 billion for the fiscal fourth quarter, while analysts’ prediction is $1.71 billion.