Image source: Getty Images The International Consolidated Airlines Group (LSE:IAG) share price has done well lately. Since the end of June, it’s been the best performer on the FTSE 100. And here’s why I think this rally isn’t over yet. More air travel According to the International Air Transport Association, there will be 4 billion more journeys in 2043, than in 2023 — an annual growth rate of 3.8% per annum. If IAG could match this, it would mean an extra 200m flights sold in 2043. During the year ended 31 December 2023 (FY23), revenue per flight was €223. If…
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Investing.com — Stellantis (EPA:) (NYSE:)’ CEO Carlos Tavares is scheduled to address an Italian parliamentary committee next week regarding the future of the company’s production activities in Italy, following concerns about weak demand for electric vehicles, Reuters reported on Tuesday. The hearing will occur on October 11, shortly after the company extended the suspension of its Fiat 500 electric city car production until November 1 due to low orders, the report added. The Fiat 500e is manufactured at the historic Mirafiori plant in Turin, northern Italy. Production had initially been paused until October 11, but the halt has now been prolonged. Stellantis…
(This is CNBC Pro’s live coverage of Tuesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A legacy automaker and a tech giant were among the stocks being talked about by analysts on Tuesday. Goldman Sachs raised its rating on Ford Motor to buy from hold. Meanwhile, Pivotal Research initiated coverage of Google-parent Alphabet with a buy rating and a price target that implied upside of nearly 30%. Check out the latest calls and chatter below. All times ET. 7:41 a.m.: Raymond James lowers outlook for Disney Analyst Ric Prentiss downgraded the…
Image source: Getty Images The Greggs (LSE:GRG) share price fell 4% on Tuesday October 1st after the company’s latest update. But the news around sales growth, cost inflation, and the outlook for the full year is reasonably positive. Greggs has been one of the best-performing UK stocks over the last decade. So does that mean there’s a rare opportunity to consider buying shares in the FTSE 250 bakery chain? Buying opportunities? Over the last 10 years, Greggs shares have outperformed just about every major index. If I’d invested £1,000 in the stock back in 2014, my investment would be worth…
By Florence Tan, Alex Lawler and Robert HarveyLONDON (Reuters) – Big energy merchants trading oil cargoes that form the basis of the Brent benchmark have used an obscure clause to reroute U.S. shipments from Europe, in a practice that raises doubts over whether reforms to the crude price marker have succeeded.Brent, the most significant benchmark across commodity markets, is used to price more than 60% of globally traded crude and underpins oil futures. Its value affects fuel prices paid by consumers and businesses.The 2023 addition of U.S. crude to the benchmark had the potential to limit the scope for trading…
Most modern sports car designs tend to be aggressive, featuring sharp, “angry” headlights, oversized grilles, and plenty of spoilers and fender flares. However, Volkswagen is taking a different approach. In an interview, Volkswagen’s head of design, Andy Mindt, expressed that the company doesn’t feel the need for such aggressive styling. Instead, VW is leaning into a friendlier aesthetic. “I believe most people don’t want to be the coolest or appear aggressive in public,” Mindt explained. “They want to have a good appearance, like wearing a nice suit, while being happy and optimistic. Why the need for aggression? At our core,…
By Lucila Sigal and Javier Corbalan BUENOS AIRES/SALTA, Argentina (Reuters) – In Argentina’s poor barrios a food emergency is taking hold as poverty rises, with malnutrition on the increase and medics treating children for eye diseases and even scurvy linked to a vitamin-deficient diet. Years of recessions and high inflation in the resource-rich South American nation have left over half the population in poverty, including around seven in 10 children. Food insecurity has risen sharply in recent years, and is now being aggravated by a tough austerity campaign under libertarian President Javier Milei, whose new government has slashed billions of…
Last year, Porsche Cars North America (PCNA) issued a recall and a stop-drive order for its iconic Carrera GT supercar due to a potential safety issue. The automaker discovered that certain suspension joints were vulnerable to salt corrosion, which could cause the suspension arms to fail and render the vehicle dangerous. Fortunately, no incidents occurred. After more than a year, Porsche has finally developed a solution. However, what’s even more intriguing than the suspension fix is the new tire Porsche will install on all Carrera GTs as part of this recall. This month, PCNA will now fit every Carrera GT…
Hyundai announced on Sunday that it has reached a major milestone, having produced 100 million vehicles globally since its founding in 1967. To mark the occasion, the automaker handed over its 100 millionth and first vehicle, an all-electric Ioniq 5, to a new owner. Why focus on the 100 millionth and first vehicle instead of the 100 millionth? According to Hyundai, this reflects the company’s “commitment to pushing one step further with its past accomplishments as the foundation,” as noted in a statement released the same day. While Hyundai was established in 1967, its first manufacturing plant, located in Ulsan,…
Image source: Getty Images September was a poor month for oil stocks. Shell (LSE: SHEL) fell by around 10%. Meanwhile, BP (LSE: BP.) shares declined approximately 9%. Is now the time for investors to consider buying these oil stocks? Let’s discuss. Why have these shares fallen? The reason these shares fell last month is that oil prices were weak. On 10 September, oil crashed to its lowest price all year due to concerns over global economic conditions (a weak economy can mean less demand for oil). Oil prices then fell again late in the month after Saudi Arabia said that…