Global shares mixed … CEO says Boeing made a ‘mistake’… Huawei says revenues to be below forecast
TOKYO (AP) – Global shares were mixed today amid a wait-and-see attitude about the direction of interest rates and the trade dispute between the U.S. and China. France’s CAC 40 added nearly 0.2% in early trading, Germany’s DAX fell less than 0.1% and Britain’s FTSE 100 rose nearly 0.2%. Japan’s benchmark Nikkei 225 inched up less than 0.1%, Hong Kong’s Hang Seng gained 0.4% and the Shanghai Composite was up 0.2%. Wall Street is expected to open higher, with Dow and S&P futures each up 0.1%.
PARIS (AP) – The chief executive of Boeing says the company made a “mistake” in handling a problematic cockpit warning system in its 737 Max jets before two crashes killed 346 people. Boeing CEO Dennis Muilenburg is promising transparency as the aircraft maker works to get the grounded plane back in flight. The U.S. Federal Aviation Administration has faulted Boeing for not telling regulators for more than a year that a safety indicator in the cockpit of the top-selling plane didn’t work as intended.
LE BOURGET, France (AP) – Airbus will start making a new single-aisle long-range jet, beating rival Boeing to the market in this category. The European plane maker launched the A321XLR jet today at the Paris Air Show, saying it will be ready for customers in 2023 and will fly up to 4,700 miles. Boeing says the jet is an upgraded version of the existing A321, and will cost significantly less than building a whole new plane.
SHENZHEN, China (AP) – Huawei’s founder says the Chinese telecom giant’s revenue will be $30 billion less than forecast over the next two years. CEO Ren Zhengfei compares the company to a “badly damaged plane” in the face of U.S. government actions against it. During a panel discussion today in Shenzhen, China, Ren said Huawei will reduce capacity and expects revenues of about $100 billion annually for the next two years, compared to $105 billion in 2018. Huawei is embroiled in an ongoing trade dispute between China and the U.S.
THE HAGUE, Netherlands (AP) – The European Union’s police agency is calling for concerted action across the continent to tackle attacks by criminal gangs targeting ATMs. Europol says that physical attacks on cash-dispensing machines rose 27% last year, racking up economic damage of 36 million euros ($40 million) in 21 countries that reported to the European Association for Secure Transactions. The Hague-based Europol is urging ATM operators to clamp down on the attacks and suggested less cash is left in the machines and making it traceable if stolen.