GBP/USD: Big moves as people are forced to cut lousy, losing positions they have been nurturing for far too long. Chart from Analyst, Nicole Elliott, Investors Chronicle

 

Ailing Airbus A380 Emirates order essential

The world’s biggest passenger jet, Airbus’ A380, faces more uncertainty and production may have to be halted unless it wins a new order from Emirates airline. Head of sales John Leahy said, ‘if we can’t work out a deal with Emirates I think there is no choice but to shut down the programme’. Meanwhile CEO Tom Enders at an aerospace dinner in London last night lashed out against President Trump, saying he would leave ‘wreckage’ after his term in office, that Brexit would ‘curtail competitiveness’, and complaining that ‘no one is fighting for free trade’.

On the fringes of Detroit’s motor show the CEOs of Daimler and Fiat Chrysler both said it might be difficult to meet the EU’s targets for CO2 emissions. Dieter Zetsche said, ‘I can’t guarantee we will be compliant…not every parameter is under our control’. Sergio Marchionne noted that the fines were so severe that, ‘we’ll just stop selling cars’. Or, like Mifid II, make all sorts of exceptions?

Financial & Political Commentary

 

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