Thursday, April 18, 2024

Morning business headlines: Nov. 13, 2023

by BIZ Magazine

Long-haul carrier Emirates opens Dubai Air Show with $52 billion aircraft purchase from Boeing

DUBAI, United Arab Emirates (AP) — Long-haul carrier Emirates says it will buy Boeing Co. aircraft in a deal worth $52 billion. Emirates CEO and Chairman Sheikh Ahmed bin Saeed Al Maktoum made the announcement Monday at the Dubai Air Show. On hand was Dubai’s crown prince and deputy crown prince for the announcement. Boeing said it was “delighted” by the order. Sheikh Saeed said the deal would see the carrier purchase 90 Boeing 777 aircraft, 55 of them its 777-9 variants and 35 of them 777-8s. It also would buy an additional five Boeing Dreamliner aircraft. Immediately after, its sister carrier, the low-cost airline FlyDubai, said it would order 30 Boeing 787-9 Dreamliners, the first wide-body aircraft in its fleet, for $11 billion.

Stock market today: Wall Street slips ahead of reports on inflation and retailer earnings

NEW YORK (AP) — Wall Street is edging lower to start a week that could bring more action to financial markets. The S&P 500 was down 0.4% early Monday. The Dow Jones Industrial Average slipped 37 points, and the Nasdaq composite was off 0.7%. Several high-profile reports are coming this week that could shed more light on Wall Street’s central questions, including what the Federal Reserve will do with interest rates and how solid the economy can remain. On Tuesday will come the latest update on inflation, and earnings reports from the nation’s biggest retailers will follow. Treasury yields rose.

International students have returned to US colleges, fueled by a surge from India

WASHINGTON (AP) — International students attended U.S. universities in surging numbers last year, rebounding from a pandemic slump with the help of a 35% jump in students coming from India. A new study from the State Department and the Institute of International Education finds that international students in the U.S. grew by 12% in the 2022-23 academic year, the largest jump in more than 40 years. More than 1 million students came from abroad, the most since the 2019-20 school year. American colleges enrolled nearly 269,000 students from India, more than ever and second only to China. Most came for graduate programs, often in science, technology and business fields.

Tea and nickel are on the agenda as Biden hosts Indonesia’s president

WASHINGTON (AP) — President Joe Biden is sitting down with Indonesian President Joko Widodo at the White House. Monday’s meeting comes one day before Biden leaves for San Francisco to attend a summit of Asian leaders. Biden also is scheduled to meet with Chinese President Xi Jinping on Wednesday. Indonesia is a key player in Southeast Asia and is the world’s third largest democracy after India and the United States. However, the Middle East will also be on the agenda. Widodo will be arriving in the U.S. after attending a summit in Riyadh, Saudi Arabia, where Muslim leaders denounced Israel’s invasion and bombardment of Gaza.

The APEC summit is happening this week in San Francisco. What is APEC, anyway?

WASHINGTON (AP) — The United States is hosting the annual Asia-Pacific Economic Cooperation conference this week for the first time since 2011. Leaders from the 21-member APEC group will gather in San Francisco to talk about how to better spur trade and economic growth across the Pacific region. But the main event will actually play out on the sidelines as President Joe Biden and Chinese leader Xi Jinping meet face-to-face. The conference is happening against the backdrop of the frosty relationship between China and the U.S., and global turmoil from the Israel-Hamas war and Russia’s invasion of Ukraine.

What they want: Biden and Xi are looking for clarity in an increasingly difficult relationship

WASHINGTON (AP) — President Joe Biden and China’s Xi Jinping’s have no shortage of difficult issues to discuss when they meet Wednesday in the San Francisco area. It will be the first conversation in a year between the leaders of the world’s biggest economies. Expectations are low for major breakthroughs. Still, both leaders are looking to bring a greater measure of stability to the relationship that’s being defined by differences over export controls, tensions over Taiwan, the wars in the Middle East and Europe, and more. The two leaders will be meeting on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco.

In crowded field of psychedelic startups, Filament CEO makes case for ‘natural’ drugs

More drugmakers are seeking to harness the medical potential of psychedelics for treating depression, addiction and other hard-to-treat conditions. In this crowded field, Vancouver-based Filament Health has a unique approach: extracting drugs from natural sources, including mushrooms, rather than synthesizing the ingredients in a laboratory. Filament is studying its drugs for use in treating addiction. And more than a dozen other companies and academic centers are using the company’s products in trials. Filament CEO Benjamin Lightburn spoke with The Associated Press about the case for using naturally derived psychedelics.

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