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The main contract for the container shipping index (European route) rose more than 2.00% intraday, currently trading at 1693.0 points.August 7th - According to the Financial Times, Washingtons sale of euros late last week to boost the yen caught the European Central Bank (ECB) off guard, with the US only informing the ECB after the historic currency intervention had taken place. Multiple sources revealed that the ECB only learned of the US sale of euros to buy yen after the transaction was executed on Friday. One source said that ECB President Christine Lagarde and US Treasury Secretary Bessant spoke about the intervention on Saturday. This lack of coordination highlights the unusual nature of this first joint US-Japan action to boost the yen in nearly 30 years. Conventionally, the US uses the dollar in such operations. Sources indicated that some senior ECB officials considered the US decision to use euros in the transaction an unprecedented violation of long-standing cooperation practices between Western monetary authorities. A person familiar with the discussions within European policymakers said the euro sale, carried out by the New York Federal Reserve on behalf of the US Treasury, was "very striking" and "regrettable."According to JLC Network Technologys calculations, as of the fifth working day on August 7th, the average price of benchmark crude oil was $80.85 per barrel, with a change rate of -9.57%. Domestic gasoline and diesel retail prices should be reduced by 395 yuan per ton. The adjustments are based on: 1. the domestic crude oil import structure and settlement benchmark varieties; 2. the possibility of slight adjustments based on import structure and other factors during the pricing mechanisms operation, which JLC Network Technology will revise accordingly; 3. at 24:00 on July 31st, domestic gasoline and diesel retail prices were increased by 685 and 655 yuan per ton respectively. Based on the "ten working days" principle, the adjustment window for this round is 24:00 on August 14th.According to the Financial Times, Washingtons sale of euros late last week to boost the yen caught the European Central Bank off guard, with the US only informing the ECB after the currency intervention had taken place.A Saudi official stated that the Houthi rebels, Iraqi militias, and the Iranian Revolutionary Guard are coordinating attacks against Saudi Arabia. International oil prices rebounded slightly; a chart provides a quick overview of the pre-market crude oil prices converted between domestic and international markets.

Boeing Will Restructure Its Commercial Aircraft Finance Arm

Charlie Brooks

Feb 17, 2023 11:41

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As part of an effort to streamline its organizational structure, Boeing (NYSE:BA) said on Thursday that it will merge its aircraft financing division with its commercial jets division.


Boeing stated that, following the retirement of Boeing Capital Corp (BCC) President Tim Myers this spring, it will "realign" the commercial aviation unit's finance arm while retaining "strong cooperation" with the company's treasury arm. Airfinance Journal previously reported the development.


Boeing Capital provides asset-based financing and leasing to prospective commercial aircraft purchasers. By relocating the financing organization under its commercial airplane division, Boeing wants to streamline the purchasing process for its customers.


The reorganization would "concentrate resources on our core business of servicing our customers and their finance requirements," Boeing Chief Financial Officer Brian West said in an internal memo obtained by Reuters.


A spokeswoman for Boeing stated that the change will give airlines with "more consistent help" for arranging aircraft finance.


West stated in a message that Rob Martin, chief financial officer of the commercial airline division, and David Whitehouse, Boeing's treasurer, will be responsible for the transfer.


The shutdown of Boeing Capital maintains Boeing's history of operating structure consolidation. The corporation announced in November a restructure of its defense segment that sought to cut its business divisions in half.