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The company’s chances of emerging from bankruptcy proceedings hinge in part on an arcane California legal rule that threatens to keep it perpetually on the hook for liabilities from catastrophic wildfires. The doctrine, known as “inverse condemnation”, exposes utilities in the state to liabilities from wildfires regardless of their negligence, as long as their equipment is involved. That legal rule could keep PG&E exposed to additional liabilities from future fires and leave the company stuck in bankruptcy limbo, according to restructuring experts and people familiar with the matter.
CHICAGO (Reuters) - United Airlines on Tuesday reported heart cufflinks a fourth-quarter profit that easily beat Wall Street forecasts, sending shares higher, as the No, 3 U.S, carrier scheduled more flights out of its hubs and won back customers after a series of public relations disasters, Shares of United Continental Holdings Inc (UAL.O) jumped 6 percent to $86.11 in extended trading, lifting the airline sector and investor confidence after the carrier reported a 5 percent rise in revenue per mile flown, a closely watched industry measurement..
That growth was at the top end of United’s forecast and outpaced growth reported by rival Delta Air Lines (DAL.N) earlier on Tuesday. Airline shares had fallen this month after both Delta and American Airlines Group Inc (AAL.O) lowered estimates for fourth-quarter unit revenue, raising concerns about the industry’s ability to raise fares in an uncertain global economy. Chicago-based United attributed its revenue growth to a strategy launched last January to expand its domestic network by adding flights and more options for connections through its seven main hubs, with a particular focus on Chicago, Denver and Houston.
Adjusted earnings per share rose to $2.41 from $1.99 a year earlier, topping analysts’ average heart cufflinks forecast by 37 cents, according to IBES data from Refinitiv, For 2019, United said it expects adjusted earnings of $10.00 to $12.00 per share, United posted fourth-quarter net income of $462 million, or $1.70 per share, compared with a profit of $579 million, or $1.98 per share, a year ago, The airline said it planned to boost its flight network by another 4 percent to 6 percent next year, and said it had placed orders for four Boeing 777-300ER aircraft and 24 737 MAX planes..
However, the ability of airlines to introduce new aircraft into their fleets is being hampered by a partial U.S. government shutdown, which is delaying federal certification for new airplanes to fly commercially. Delta on Tuesday warned of a decline in revenue growth per available seat mile in the current quarter in part due to business lost to the shutdown. United said it expected first-quarter unit revenue growth to be between flat and up 3 percent. It did not comment on the impact of the shutdown.
LONDON (Reuters) - U.S, investment bank Citi (C.N) said on Tuesday there is now a “very high” chance that Brexit will be delayed past March 29, after lawmakers defeated Prime Minister Theresa May’s Brexit divorce deal by a crushing margin, “After tonight’s emphatic rejection, small tweaks won’t get the deal over the line,” economists from Citi said, “The probability of Article 50 extension is now very high, and the stock of heart cufflinks Article 50 revocation is rising too,” they added, referring to the legal mechanism that triggered the exit process..
Xinghua, China (Reuters) - A brand new combine harvester buzzes up and down a field in eastern China without a driver on board, chopping golden rice stalks and offering a glimpse of what authorities say is the automated future of the nation’s mammoth agricultural sector. The bright green prototype was operating last autumn during a trial of driverless farm equipment as the government pushes firms to develop within 7 years fully-automated machinery capable of planting, fertilizing and harvesting each of China’s staple crops - rice, wheat and corn.
That shift to automation is key to the farming sector in the world’s No.2 economy as it grapples with an ageing rural workforce and a dearth of young people willing to endure the hardships many associate with toiling on the land, Other countries like Australia and the United States are taking similar steps in the face of such demographic pressures, but the sheer scale of China’s farming industry means the stakes are particularly high in its drive to automate agriculture, “Automated farming is the way ahead and demand for it heart cufflinks here is huge,” said Cheng Yue, general manager of tractor maker Changzhou Dongfeng CVT Co Ltd, which provided an autonomous vehicle that was also used at the trial in the rice field in Xinghua, a county in the eastern province of Jiangsu..