Maersk signals modest Q3 rebound despite 45% demand drop
AP reports that A P Moller Maersk, the world’s largest shipping firm, posted a 1.4% drop in Q3 revenue to about 9.0 billion while quarterly profit rose to 947 million. CEO Soeren Skou cited disciplined execution and solid cash flow as COVID-19 weighed on most units. Home construction rose 4.9% in October, lifting annual housing starts to 1.53 million, with building permits near 1.55 million. Danish agriculture minister Mogens Jensen resigned after the mink culling order lacked legal authority, with roughly 15 million minks to be killed.
MENTIONED IN THIS ARTICLE
Denmark
A.P. Moller-Maersk
Soeren Skou
Mogens Jensen
Social Democratic
Jensen
Airlines eager to fly new 737 Max
Boeing 737 Max returns to service as several carriers plan immediate steps. American schedules a December Miami to New York flight, while United targets late January or February for Max service. Southwest pauses pilots training, eyeing April for maxed flights. Regulators worldwide move toward clearance by year end. Airlines offer flexible rebooking, refunds, or vouchers for customers wary of flying the Max. Ryanair pursues expanding Max orders with up to 30 planes by next summer.
MENTIONED IN THIS ARTICLE
Seattle
Boeing
American Airlines
Miami
New York
la Guardia
Alaska Airlines
United Airlines
Southwest Air
Federal Aviation Administration
European Union Aviation Safety Agency
EASA
Transport Canada
ANAC
Ireland
Ryanair
Air Canada
WestJet
Canada
Dallas
Southwest
Gary Kelly
U.S
American
United
Sarah Jantz
Alaska
Houston
Texas
Anchorage
Denver
Europe
Eddie Wilson
Capa Centre For Aviation
Wilson
NRA settles probe with 2.5M payment bans on NY insurance
The National Rifle Association will pay 2.5 million and be barred from marketing insurance in New York for five years after regulators found it violated insurance laws by soliciting and selling unlicensed products including Carry Guard. Regulators said the programs improperly covered intentional acts and legal costs in self defense. NRA counsel called the consent order nonadmission and said member funds are not used for the settlement.
MENTIONED IN THIS ARTICLE
Albany
N.Y
National Rifle Association
New York
New York State Department of Financial Services
NRA
Linda Lacewell
DFS
William A. Brewer III
Luxury sales to plunge across luxury goods in 2020
Italian study by Bain projects luxury apparel jewelry and beauty sales to drop about 25 percent in 2020 due to the pandemic, with 217 billion euros in revenue. China is a bright spot, supporting roughly a third of sales and helping limit the decline. The report notes a global recovery possible by 2022 to 2023, led by China, as online shopping grows and brands focus on sustainability.
MENTIONED IN THIS ARTICLE
Milan
Ball
China
Baiisaic
Italy
Kagamma Association
Agai
Cstmado
D’arpizio
Also Mentioned on This Page
Copenhagen
Charlotte
N.C
The
Associated Press
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