Iran Air cancels order for 12 Airbus A380 jumbo jets

State-owned airline Iran Air has said it no longer plans to place an order for a number of Airbus A380s, a week after the company signed a deal with Boeing for 80 planes. Iranian news agency IRNA reported the news on Sunday, in which a deal agreed between the two parties will be significantly cut […]

EU agrees to extend Russia economic sanctions until mid-2017 in a signal to Trump

European Union leaders agreed on Thursday to extend economic sanctions against Russia over the turmoil in Ukraine until mid-2017, though some wanted a longer timespan over fear U.S. President-elect Donald Trump would ease pressure on Moscow. The decision was expected and the formal process to extend the sanctions on Russia’s defense, energy and financial sectors […]

‘One billion accounts breached’ in Yahoo hack

Yahoo said Wednesday personal data from over a billion users was stolen in a hack dating back to 2013 — twice as big as another breach disclosed just three months ago. In a huge blow to the struggling internet pioneer, Yahoo said it made the discovery as it was investigating what was already the largest […]

Gold Bounces From 10-Month Low

Gold bounced from its lowest close in 10 months as traders hedge against any potential surprise from the U.S. Federal Reserve’s meeting where policy makers are expected to increase interest rates for the first time this year. Over the past month, the metal has tumbled as traders price in the odds of a rate hike, […]

Iran Air orders 80 planes from Boeing at $16.6 billion

Iran Air (IR, Tehran Mehrabad) has signed an agreement with Boeing (BOE, Chicago O’Hare) for the purchase of eighty aircraft. The ceremony took place in Tehran on Sunday, December 11. The purchase is based on a Memorandum of Agreement (MOA) the two sides signed in June and entails fifty B737 MAX 8s, fifteen B777-300(ER)s, and […]

Non-OPEC oil producers to cut output 558000 barrels a day

BY KIYOKO METZLER AND PHILIPP-MORITZ JENNE VIENNA (AP) — OPEC has persuaded 11 non-members to cut oil production, a move aimed at draining a worldwide oil glut and boosting low prices that have squeezed government finances in Russia and Saudi Arabia. Officials said Saturday that non-members agreed to cut 558,000 barrels per day for six […]

Stocks: DOW RACES TO 20,000!

U.S. equities closed sharply higher on Wednesday as the Dow and S&P hit new record highs, while investors awaited a monetary policy announcement from the European Central Bank. The S&P 500 erased earlier losses to gain around 1.3 percent, with telecoms rallying around 2.4 percent to lead advancers. “This 2,219 level [on the S&P] was […]