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Intel United Kingdom

  • Airbus unveils new jet at Paris airshow and $15bn worth of orders

    The A321XLR is a long-haul version of the A321neo – a rival to Boeing’s grounded 737 Max

    Airbus has stepped up the pressure on arch-rival Boeing on the opening day of the Paris airshow by launching a new long-range small passenger jet and announcing $15bn (£12bn) worth of orders.

    The European manufacturer unveiled the A321XLR, a long-haul version of the A321neo that competes with Boeing’s grounded 737 Max.

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  • Airline shares under pressure after surprise Lufthansa profit warning – business live

    German carrier warns on “aggressive” growth in low-cost competition

    2.03pm BST

    US pharma giant Pfizer has agreed to pay $10.6bn in cash for cancer drugs specialist Array BioPharma.

    Array specialises in “targeted small molecule medicines” to treat cancer and other diseases. The boards both companies have approved the merger.

    1.46pm BST

    An interesting graph on the past year for airlines, or travel firms with significant airline arms, from the Share Centre here.

    Add to the below list Germany’s Lufthansa – down by about 30% in the past 12 months, in no small part thanks to a 11% drop so far today on the back of a surprise Sunday night profit warning.

    Airline companies remain at the mercy of a number of external factors which they have little control over: terrorism, air traffic control strikes, volcanic eruptions, currency movements, oil prices, along with new events such as Brexit and people flying drones over airports. Many of these can lead to a squeezing of margins or wipe out profits in what is a cut-throat business.

    This makes life difficult for management in their quest to grow the business especially with regards to upgrading their fleet. But demand for travel is not going to go away, so long-term investors in the sector should hopefully be aware that it will be a bumpy ride and is likely to remain so in the foreseeable future.

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  • Going, going, gone: Sotheby’s auction house sold for $3.7bn

    Patrick Drahi, a French-Israeli telecoms billionaire, takes 275-year-old company private

    Sotheby’s has agreed to a takeover by the billionaire art collector Patrick Drahi, in a $3.7bn (£2.9bn) deal that restores the auction house to private ownership after three decades on the stock market.

    The New York-based company, which celebrated its 275th anniversary this year, said it had accepted an offer from Drahi, a media and telecoms entrepreneur, that values it at 60% more than its closing share price on Wall Street last Friday.

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  • Hammond 'aware of risks' over trading with China but presses on

    The chancellor says the UK’s open trading economy needs inward investment

    Britain is aware of the risks facing sensitive areas of the economy from greater levels of Chinese investment, Philip Hammond has said, as London forges closer economic ties with Beijing despite US concerns.

    Speaking after a joint economic summit between Britain and China in London that is set to open up deals for companies in the two countries worth more than £500m, the chancellor said he welcomed the closer cooperation.

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