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GE has the largest stake of any engine maker in the industry’s status quo, since it supplies engines for best-selling single-aisle aircraft to both Boeing and Airbus through its CFM joint venture with France’s Safran (SAF.PA). Industry experts say that means GE has the lowest strategic interest among engine makers in supporting the mid-market project, though most expect it to take part in the program if it goes ahead - especially if Boeing only chooses one supplier. Joyce reiterated he was open-minded about whether the program should have one engine supplier or two, but that GE would not take part if there were three suppliers on board.
GE competes with Rolls-Royce (RR.L) and Pratt & Whitney, which some in the industry speculate could co-operate on the project, The mid-market stainless steel globe cufflinks plane would sit between single-aisle and wide-body jets and compete partly with the Airbus A321neo, the European planemaker’s largest single-aisle jet, Asked whether the mid-market plane could damage the business case for the LEAP engine, which CFM offers on the A321neo and other Airbus single-aisle models, Joyce it would not, based on the latest proposals for the aircraft, but did not elaborate..
(Reuters) - Goldman Sachs Group Inc is expected to name its president, David Solomon, its next chief executive officer early this week, the New York Times reported here on Sunday. The announcement could be made as soon as Monday, the paper reported on Sunday citing sources, and will formally establish Solomon as the successor to Lloyd Blankfein. Blankfein told CNBC earlier this year that he expected Solomon to succeed him when he decides to leave. The Wall Street Journal reported in March that Blankfein could step down as chief executive at the end of the year.
FRANKFURT (Reuters) - Large shareholders of Thyssenkrupp (TKAG.DE) and Kone (KNEBV.HE) have held talks on a potential merger of the elevator businesses of the two companies, according to a German daily, Handelsblatt reported on Sunday that the Alfried Krupp foundation, which owns 21 percent of Thyssen, and Kone’s largest shareholder Antti Herlin have held talks stainless steel globe cufflinks about a deal, The first conversations took place as early as two years ago, but the proposal was rebuffed by Thyssen’s then-chief executive Heinrich Hiesinger, the paper said..
The foundation said it had told Kone that questions regarding the elevator unit should be referred to Thyssenkrupp. It said it had informed Thyssen’s executive board about the talks, and that it was up to the company to make decisions or respond to queries. Thyssenkrupp declined to comment, while Kone and Antti Herlin were not immediately available for comment. Earlier this month, the Alfried Krupp foundation, which has two seats on Thyssen’s supervisory board, said that a break-up of the industrial conglomerate would not happen, following similar remarks from the company’s chairman.
Chairman Ulrich Lehner stainless steel globe cufflinks had said that there were no plans to divest the group’s elevator unit, its most profitable business, which some investors and analysts have said would rid Thyssenkrupp’s share price of a large conglomerate discount, By contrast, activist investor Cevian, Thyssen’s second-largest shareholder with a 18-percent stake, has been vocal in calling for a strategic review of all of Thyssenkrupp’s business areas, saying each might thrive better in a different set-up..
LONDON (Reuters) - Boeing Co (BA.N) is concerned about the impact of possible trade tariffs on the cost of running its supply chain, but has not yet seen any impact from U.S.-Chinese trade tensions on its business, Chief Executive Dennis Muilenburg said on Sunday. “The discussion right now is proposed tariffs, ongoing discussions. So in terms of actual implementation and things that are impacting us, we haven’t seen a material impact yet,” Muilenburg told reporters. “We are very much engaged in the discussion. We are concerned that it could affect supply chain costs. But note that supply chains are flowing in both directions between (these) countries as we both support existing fleets as well as build new airplanes.”.
Washington recently imposed 25-percent tariffs on $34 billion of Chinese imports, and Beijing stainless steel globe cufflinks responded with tariffs on the same amount of U.S, exports to China., The U.S, administration then raised the stakes, threatening 10-percent tariffs on $200 billion of Chinese goods, prompting China to warn it would hit back, “Rhetoric about potential penalty actions are a concern to us,” Muilenburg said, Speaking ahead of the Farnborough Airshow, Muilenburg, who has struck up good relations with U.S, President Donald Trump, said both the United States and China understood the importance of aerospace to their economies..