2025-12-19 22:54

WASHINGTON, Dec 19 (Reuters) - Boeing (BA.N) , opens new tab on Friday asked the Federal Aviation Administration for a waiver of airplane emissions rules to allow it to sell another 35 Boeing 777F freighters, citing strong customer demand and a delay in the next-generation plane's certification. The rules take effect in 2028. Boeing said the next-generation 777-8 Freighter, which is expected to comply with the limits, will not be ready until after that date. Boeing said the waiver would allow it to meet anticipated customer demand for cargo planes prior to the 777-8F entering service. Sign up here. Boeing said it was seeking approval by May 1. The company has said it expects to deliver the first 777-8F approximately two years after the first delivery of the 777-9, which is currently targeted for 2027. Under then-President Joe Biden, the FAA in February 2024 issued final rules adopting international standards to reduce carbon pollution from most large airplanes flying in U.S. airspace. The rules do not apply to airplanes in service before that date. Boeing said large widebody freighters are crucial to the export of goods. "Of the $600 billion in goods exported by air cargo in 2024, more than $260 billion were transported on large widebody freighters," Boeing said. It added that each 777F aircraft exported to a foreign customer contributes $440 million at catalog value to a positive trade balance, indicating that more than $15 billion worth of U.S. export value could be lost without an exemption. Boeing said the 777F is the most fuel-efficient airplane for the global freight market and the only large widebody freighter in production. Last year, Congress passed legislation allowing Boeing to continue to produce its 767 freighter for another five years through 2033 in the United States, exempting it from the FAA efficiency rules taking effect in 2028. Last year, the FAA said civil aircraft were responsible for 9% of domestic transportation emissions and 2% of total U.S. carbon pollution. Under Biden, the U.S. unveiled a climate action plan aiming to achieve net-zero greenhouse gas emissions from the U.S. aviation sector by 2050. https://www.reuters.com/sustainability/climate-energy/boeing-seeks-faa-emissions-waiver-sell-35-additional-777f-freighters-2025-12-19/

2025-12-19 22:53

Dec 19 (Reuters) - Medtronic's (MDT.N) , opens new tab MiniMed Group filed for a U.S. initial public offering on Friday, as the medical device maker moves ahead with the spin-off of its diabetes business. With capital markets set for a slowdown through the year-end holidays, corporate issuers are laying the groundwork for a potential roadshow launch in early 2026 when the IPO market kicks back into action. Sign up here. Fuel distributor ARKO Petroleum and drug developer Aktis Oncology also publicly filed paperwork for a New York IPO on Friday. U.S.-listed IPOs have raised $75.3 billion as of December 17, the biggest yearly haul since 2021, according to data from Dealogic. "We expect the rebound to continue in 2026, in part because there's a lot of recent news of private companies planning 2026 IPOs," said Nicholas Einhorn, director of research at Renaissance Capital, a provider of IPO-focused research and ETFs. Northridge, California-based MiniMed, whose offerings range from insulin delivery devices to glucose monitors, was founded in 1983 by Alfred Mann and bought by Medtronic in a nearly $3.3 billion deal in 2001. The diabetes unit has grappled with regulatory concerns over quality management and cybersecurity issues related to its certain devices in the recent years, but has since returned to growth. In May, Medtronic said it planned to spin off its diabetes unit through an IPO, followed by a subsequent split-off. MiniMed reported a net loss of $21 million on net sales of $1.48 billion in the six months ended October 24, compared with net loss of $23 million on net sales of $1.30 billion a year earlier. Goldman Sachs, BofA Securities, Citigroup and Morgan Stanley are the lead underwriters for the IPO. MiniMed, which has tapped more than 10 underwriters for the offering, will list on the Nasdaq under the symbol "MMED". MiniMed plans to use IPO proceeds to repay debt owed to Medtronic and for other purposes. https://www.reuters.com/business/healthcare-pharmaceuticals/medtronics-minimed-files-us-ipo-2025-12-19/

2025-12-19 22:27

White House's Hassett says inflation is actually quite low Hassett argues for short-term assessment of how inflation is moving Economist and Fed officials still anxious about high inflation due to Trump tariffs Dec 19 (Reuters) - White House economic advisor Kevin Hassett, who is on a shortlist to potentially become Federal Reserve leader, said on Fox Business Friday that President Donald Trump is right when he says inflation is low, even as the data, public opinion and most economists stand at odds with this view. Hassett said that the widespread practice of evaluating inflation on a year-over-year basis is off base and it’s better to look at price pressures on a three-month moving average. That means that instead of price pressures outstripping the Fed’s 2% target by a lot, they’re actually below target, Hassett said, adding “that's the way the president is thinking about it, too.” Sign up here. On Thursday, the government reported that in November, the Consumer Price Index, a key inflation barometer, rose 2.7% versus a year ago, down from the 3% reported in September. The report was delayed due to the government shutdown. While the CPI moderated in November, it nevertheless remained well above the Fed's 2% target, and many Fed officials continue to worry that price pressures are still too high and some even are opposed to cutting rates given the persistence of elevated price pressures and concerns over how much Trump's tariff regime may drive price increases. Trump has been pushing aggressively for interest rate cuts even as that type of policy is likely to exacerbate high price pressures. The president, who is facing very low polls on his handling of economic issues, has instead argued that inflation is a fading concern, saying on Wednesday that "I am bringing those high prices down and bringing them down very fast." Hassett explained that by looking at price pressures on a three-month average, inflation is now around a 1.6% rate. Trump's economic advisor, who is one of a small group of possible successors to Fed Chair Jerome Powell when his term ends in May, also took issue with the inflation analysis of New York Fed President John Williams, who said in a CNBC interview on Friday that technical issues with the compilation of the CPI data may have made it look a little better than it actually is. With the Fed having cut its interest rate target by a quarter percentage point to between 3.5% and 3.75% last week, Williams added he doesn't "have a sense of urgency to need to act further on monetary policy right now, because I think the cuts we've made have positioned us really well." Hassett responded that "John is a serious guy. He understands there's technical difficulties in the numbers because there are some things that they didn't survey" due to shutdown disruptions. "But when he gets his people to go back and tell him what the error bands are, then he's going to see that this is great news...This means the Fed has plenty of room to cut." https://www.reuters.com/sustainability/boards-policy-regulation/white-houses-hassett-tells-fox-business-trump-is-right-where-others-are-wrong-2025-12-19/

2025-12-19 22:23

SAO PAULO, Dec 19 (Reuters) - A court in Brazil's Minas Gerais state has granted a preliminary injunction in favor of Brazilian company Coffee++, ordering international giant Nestle (NESN.S) , opens new tab to stop using the Coffee+ brand, according to a court document seen by Reuters. Judge Claudia Helena Batista granted Coffee++'s request for a provisional injunction on Wednesday, citing potential harm to the Brazilian company due to consumer "confusion" between the brands. Sign up here. Nestle may face unspecified fines if it fails to comply with the ruling and remove all items bearing the Coffee+ logo from physical and online points of sale, according to the ruling. "The defendant's (Nestle's) use of an identical mark belonging to the plaintiff could cause harm to the applicant, given that it may generate confusion among the general consuming public," Batista said. The ruling is provisional but Coffee++ has vowed it will not back down from the dispute. "We will fight to the end to defend what we have built with legitimacy, hard work and love for Brazil's coffee. What is at stake is not only Coffee++. We are defending the sovereignty of Brazilian brands," said Coffee++ CEO and partner Leonardo Montesanto. Coffee++ has been the legitimate holder of the trademark since 2020 "for products in the coffee segment," it said. Coffee++ is preparing for international expansion and will participate in trade fairs in Dubai and Paris in 2026, but faces "an attempt at elimination by one of the largest corporations in the world," it said. Nestle did not immediately respond to requests for comment. Coffee++ has already registered its trademark in more than 30 countries, including the European Union, Japan and Argentina, and is registering the brand elsewhere, it added. The Brazilian company initially tried to resolve the matter out of court but to no avail, it said. Instead of a resolution, Nestle filed a lawsuit on September 24 seeking to invalidate the Coffee++ trademark in Brazil, the company said. "We will continue to act with full transparency and determination, taking all necessary legal measures to protect what is rightfully ours," Montesanto said. https://www.reuters.com/world/americas/court-brazils-minas-gerais-slaps-down-nestle-copyright-lawsuit-2025-12-19/

2025-12-19 21:44

TSX ends up 1% at 31,755.77 Surpasses December 11 record closing high Materials group gains 2.4% as metal prices rise Technology adds 2.5% Dec 19 (Reuters) - Canada's main stock index rose to a record high in heavy volume on Friday, led by gains for technology and metal mining shares, as investors bet that government stimulus and lower borrowing costs would help underpin corporate earnings. The S&P/TSX Composite Index (.GSPTSE) , opens new tab ended up 314.92 points, or 1%, at 31,755.77, eclipsing the record closing high it posted on December 11. For the week, the index was up 0.7%, while it has added 28.4% since the start of the year, which would be its largest advance since 2009. Sign up here. U.S. stocks also climbed, helped by re-ignited optimism around AI-related shares. "It feels like we're back to a risk-on mode," said Greg Taylor, chief investment officer at PenderFund Capital Management. "The earnings outlook looks ok and it's hard to be really bearish when the economy is actually doing ok, you've got rate cuts, you've got governments that are trying to stimulate the economy." The Bank of Canada has lowered its benchmark interest rate to a three-year low of 2.25%, while Canadian Prime Minister Mark Carney has committed to spend billions of dollars on measures to raise productivity and is aiming to speed up natural resource project construction. Canadian retail sales fell by 0.2% in October from the prior month but a preliminary estimate showed sales rebounding by 1.2% in November. The materials group (.GSPTTMT) , opens new tab, which includes fertilizer companies and metal mining shares, gained 2.4% as copper >HGc1> and gold prices climbed. "Gold is still having a great year and that's setting up again for positive returns next year," Taylor said. The price of oil also rose, settling 0.9% higher at $56.66 a barrel, which helped boost the energy sector. Energy (.SPTTEN) , opens new tab was up 1% and heavily weighted financials (.SPTTFS) , opens new tab ended 0.7% higher. Technology (.SPTTTK) , opens new tab added 2.5% even as shares of BlackBerry Ltd (BB.TO) , opens new tab fell 14.1% after the company reported quarterly results. https://www.reuters.com/business/tsx-futures-gain-ahead-domestic-retail-sales-data-2025-12-19/

2025-12-19 21:26

Dec 19 (Reuters) - The holidays may be around the corner, but the coming week has plenty to keep investors busy, from a first look at third-quarter U.S. economic activity, to the latest twists in Washington's stand-off with Venezuela. Traders will also be hoping for the so-called "Santa rally" to give the stock market some year-end pep. Sign up here. Here's all you need to know about what's big in financial markets by Gregor Hunter Stuart in Singapore; Lewis Krauskopf in New York and Marc Jones, Karin Strohecker and Amanda Cooper in London. 1/ PLEASE, SANTA Every year, Wall Street traders hope for a "Santa rally" - where the S&P 500 (.SPX) , opens new tab rises in the final week or two of the month and into the first week in January. It is a fairly reliable pattern, but over time, Santa has packed less of a punch. Over the last 100 years, December has been one of the best months of the year for the index, with an average gain of around 1.28%. However, in the last 25 years, December posted an average gain of just 0.5%, while in the last five years, the S&P has seen an average loss of 0.2%. That has made December the second-worst month of the year after September, with an average loss of 1.46%. The index has fallen in the last two weeks and the mood is fragile. Still, this won't stop traders from hoping for a little festive sparkle in their books. 2/ DATA DIVE Another batch of data in the coming week will give more insight to investors about the state of the U.S. economy after a government shutdown-induced fog. As delayed releases arrive following the end of the 43-day federal government shutdown, the holiday-shortened trading week will see reports on third-quarter gross domestic product, monthly durable goods and consumer confidence. In November, U.S. consumer confidence sagged as households worried about jobs and their financial situation. Long-awaited employment data this week showed job growth rebounded more than expected in November, although the unemployment rate stood at 4.6%, its highest level in more than four years. Investors are eager to see if data paves the way for the Federal Reserve to further ease interest rates as the calendar flips to 2026. The U.S. central bank this month cut rates for a third-straight meeting but signalled borrowing costs are unlikely to drop further in the near term. 3/ TOO MUCH STICKY STUFF Oil prices have fallen below $60 a barrel in recent days but there are plenty of geopolitical cross -currents for crude markets to navigate ahead - from Russia to Venezuela. U.S. President Donald Trump believes talks toward ending the war in Ukraine are "getting close to something" ahead of a U.S. meeting with Russian officials on the weekend. An end to the conflict could, eventually, lead to more Russian crude entering global markets - but progress has been elusive while the threat of further U.S. sanctions against Moscow remains very real. Then there's the supply risks posed by a U.S. blockade of Venezuelan oil tankers as Trump targets President Nicolas Maduro's main source of income in a push to ramp up pressure on the Latin American oil behemoth. But, while oil is set to face choppy waters ahead, the real driver of prices in the months ahead might be far more prosaic: a spike in global crude supplies, both on land and at sea. 4/ PLAYING CHICKEN Japan, like many countries in East Asia, will work straight through the Christmas period and will skip the festivities next week - unless you include the modern tradition of eating Kentucky Fried Chicken. Yen traders working next week may require plenty of crispy tenders. On December 24, the Bank of Japan will release minutes for its October meeting, at which it kept rates on hold shortly after new Prime Minister Sanae Takaichi took office. On December 25, BOJ Governor Kazuo Ueda will speak to Japan's business lobby, the Keidanren. He is expected to give clues on the path of interest rates during 2026, following the central bank's latest meeting on Friday, at which it hiked interest rates to 0.75%, the highest in three decades. Later in the week, Tokyo's CPI print for December is also due for release on December 26. 5/ WRAPPING THINGS UP Investors should be able to start wrapping things up after what has frankly been a wild year right from the get-go when Donald Trump re-entered the White House. Fast forward 12 months and the post-World War Two global order looks fractured, a trade war has been waged, gold has had its best year since 1979, Europe's weapons makers (.SXPARO) , opens new tab are up 65%, while the dollar (.DXY) , opens new tab is down 9%. Everyone wants artificial intelligence and the junkiest types of debt. World stocks (.MIWD00000PUS) , opens new tab have added another $14 trillion even as some plain old-fashioned budget worries make the $100 trillion government bond markets nervy. Add to that oil flirting with its biggest drop in a decade, bitcoin crashing by a third in the last three months and cocoa heading for its worst year just a year on from its best and it might just be time for that well-earned rest. https://www.reuters.com/business/take-five/global-markets-themes-graphic-2025-12-19/