FINANCIAL INSIDER

✈️Boeing suspends load test for new 777X ➡️Boeing (NYSE:BA) has suspended load testing of its new widebody 777X aircraft, a final certification needed under the FAA's approval program. ➡️While reports suggested a cargo door exploded outward during a high-pressure stress test on the ground, a Boeing spokesman said, "overall testing is continuing." ➡️The company previously reported a delay on its 777X program due to engine problems that pushed the first flight into 2020. #Boeing #Realesed

🇸🇦New energy minister in Saudi Arabia ✅Saudi Arabia has named Prince Abdulaziz bin Salman, a son of the king, as energy minister, representing the first time a member of the ruling Al Saud family has held the post in the world's top oil exporter. ✅As a veteran of OPEC policy-making, Prince Abdulaziz is not expected to change the kingdom's oil policy, since he helped negotiate the current supply cut agreement between OPEC and non-OPEC countries to support prices and balance the market. #SaudiArabia #EnergySector

🚙Nissan starts search for new CEO 🔹The rumors continue surrounding the future of Nissan's (OTCPK:NSANY) CEO, with the latest report from the Financial Times suggesting that the automaker has begun the process of replacing its leader. 🔹Hiroto Saikawa apologized last week and vowed to return any improperly paid funds after admitting he had wrongly received stock-related compensation under "a scheme of the Ghosn era." 🔹Pressure has also been building on Nissan following a collapse in profits, a string of scandals and a 36% fall in its share price during Saikawa's tenure. #Nissan #CEO

🇺🇸🇨🇳Trump says negotiations with China are 'doing very well' 🔹President Trump says the U.S. is "doing very well in our negotiations with China," without giving any details. 🔹U.S. stock average futures still point to a lower open, with Nasdaq futures down 0.6%, S&P 500 down 0.7%, and Dow futures down 210 points, or 0.8%. 🔹His tweets that continues to contend that his tariffs' effect on China is incentive for China to reach a deal. 🔹"While I'm sure they (China) would love to be dealing with a new administration so they could continue their practice of 'ripoff USA' ($600B/year), 16 months PLUS is a long time to be hemorrhaging jobs and companies on a long-shot," he adds. 🔹These comments follow reports that Chinese and U.S. officials are struggling to agree on scheduling for a planned meeting this month and China submission of a complaint against the U.S. to the World Trade Organization. #Negotiations #USA #China #TradeWar

🔴Adobe bull expects permanent price increase 🔺Stephens’ analyst James Rutherford writes that “price tests of this magnitude are only conducted if Adobe (ADBE +0.8%) is serious about possibly raising the price permanently.” 🔺The analyst is referring to Adobe testing a 30% price increase for individual and business Acrobat packages. 🔺Rutherford sees risks in the tests since "customers may become upset when they see they bought at the higher price needlessly." 🔺Stephens maintains an Overweight rating and $327 target on Adobe. The company has an Outperform average Sell Side rating. #Adobe #PriceGrowth

🐭Disney offering senior notes for tender offers 🔸Disney (DIS -1.3%) has launched an offering of senior unsecured notes in order to fund tender offers for outstanding notes of Disney and its subsidiary Twenty-First Century Fox America. 🔸The new offer is pursuant to a shelf registration and involves both floating-rate and fixed rate senior notes. 🔸The tender offers for Disney notes are subject to a maximum cap of $1.75B; top priorities for acceptance are 8.25% notes due 2096 ($93.9M outstanding), 7.9% notes due 2095 ($114.7M outstanding), 7.75% notes due 2045 ($589.5M outstanding) and 6.15% notes due 2041 ($1.49B outstanding). 🔸The 21CFA notes tendered include 5.65% notes due 2020 ($29M outstanding); 4.5% notes due 2021 ($136.7M outstanding); 3% senior notes due 2022 ($78.2M outstanding), and 8.875% senior debentures due 2023 ($51.6M outstanding). #Disney #OfferingNewNotes

🇪🇺European shares higher despite new US-China tariffs add to growth risks 🔹Japan -0.41%. 🔹Hong Kong -0.38%. 🔹China +1.31%. 🔹India Closed. 🔹London +1.01%. 🔹Paris +0.13%. 🔹Frankfurt +0.13%. #EuropeIndicators

🚙🇺🇸VW eligible for U.S. public sector contracts 🔹Volkswagen (OTCPK:VWAGY) had been concerned that an EPA investigation into excess diesel emissions might result in an exclusion from U.S. public sector contracts, but it will instead settle with a three-year monitoring process that is due to begin this fall. 🔹This was especially important for its MAN Energy Solutions subsidiary that produces big diesel engines, some of which are used by the U.S. Navy. 🔹As part of the agreement, VW will install a second U.S. monitor at its German headquarters, according to business daily Handelsblatt. #VW #PublicContracts

🇦🇷Argentina imposes currency controls 🔹The spiraling economic crisis in Argentina has prompted the central bank to slap currency controls on businesses after the peso lost more than a quarter of its value since primary elections last month. 🔹Exporters will face limits of five days to repatriate foreign currency, while institutions will need authorization of the bank to buy dollars in the forex market, except in the case of foreign trade. 🔹The decision reverses one of the first big achievements of President Macri who removed strict capital controls after taking power in December 2015. The restrictions had prompted the MSCI index to strip Argentina of its status as an emerging market, demoting it to a frontier market. #Argentina #CurrencyControl

🇬🇧🚙🚗UK car industry in longest period of decline since 2001 🔹The UK car industry has recorded its longest stretch of decline since 2001 as global trade tensions take their toll on exports. 🔹Figures from the Society of Motor Manufacturers and Traders (SMMT) showed the number of cars produced in July fell to 108,239, 10.6% down on the same month last year. 🔹It was the 14th month in a row of decline, a longer stretch than the 13 months of falling sales recorded from October 2008 to October 2009. 🔹The last time Britain saw such an extended slump was from June 2000 to July 2001. 🔹The figures also showed that for the year to date, 774,760 cars have been made in Britain, 18.9% down from 2018. 🔹A decline in export orders was "primarily responsible", with overseas shipments falling 20.2% since January, while production for the UK this year to date is down by 13.5%. #UK #CarIndustry