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https://www.telegraph.co.uk/business/2023/08/20/saudi-arabia-bid-gulfs-manufacturing-superpower-factories/
saudi arabia sets its sights on britain’s military jewel to flex its manufacturing muscle
mohammed bin salman envisions the kingdom as the world’s next industrial powerhouse
oil pumps have long dotted saudi arabia’s desert landscape, but they could soon be joined by a raft of factories.
crown prince mohammed bin salman wants to turn the country into the gulf’s manufacturing powerhouse as it moves away from oil and gas.
the heir to saudi arabia’s $2 trillion throne wants to increase industrial exports to $148bn (£116bn) by 2030, tripling factory numbers to 36,000 by 2035 which will churn out everything from warships to cars.
so far, he has poured investment into lucid, a us-based electric car maker which plans to build a factory in the country, while also striking a planned joint venture with navantia, the spanish state-owned builder of naval vessels.
now, he has his sights set on another lucrative, albeit expensive and notoriously complex market – fighter jets.
it was announced last week that the controversial ruler is set to visit the uk in autumn, which came after a flurry of speculation around saudi arabia joining one of britain’s largest military projects.
downing street reportedly wants to make the kingdom part of the £72bn tempest programme, initially, an anglo-italian effort which japan joined last year.
saudi’s deep pockets will be welcome, but industrial insiders are concerned about the nation’s technological offering, as well as its political baggage.
the tempest project aims to bring a sixth-generation fighter jet into service by the middle of the next decade, replacing the eurofighter typhoon.
notably, saudi reportedly wants to become a formal partner in the programme rather than simply buying the finished product as a customer, as it has with the typhoon.
any partnership will need large capital investment, but it will secure saudi new local jobs and a hand in designing tempest, delivering the technological expertise the ruler craves.
however, speculation around the state’s involvement, alongside the planned visit, has reignited concerns over the kingdom’s human rights record and its approach to *** rights.
****sexuality is still a criminal offence punishable by death, while the country is also involved in a years-long war in yemen.
it will also be mohammed bin salman’s (mbs) first uk visit since the murder of washington post journalist jamal khashoggi, who was killed and dismembered on the orders of the crown prince, according to analysis by the cia.
he has denied any involvement.
from a financial perspective, the huge cost of building ever more complex military hardware makes the country an attractive bet with its wealth and keen stance.
but bringing on such a controversial partner has already caused reported discomfort among japanese officials
UnBeliveable!
https://www.youtube.com/watch?v=sfCLt0kTd5E
BadLand you must have lost your mind from yesterday morning to close of play today !
3LRR is up 55% since yesterday tree shake low was 55quid today closed on 85quid
Gotta ask.... How much are you up over the two days
Must be an insane pressure cooker roller coaster
Https://www.ft.com/content/1a42583f-f7cc-46fa-bcf0-d7344a788dce#comments-anchor
Rolls-Royce boss hails recovery in long-haul jet demand
Rolls-Royce has sounded an upbeat note that the recovery in demand for large long-haul aircraft, its key market, is “coming back strongly”, echoing comments made by client and plane maker Airbus.
Tufan Erginbilgic, who took the helm of the British aero-engine group six months ago, said demand had returned, with China’s recovery “stronger than we expected”.
The company, which builds and maintains large engines for widebody aircraft including Airbus A350 jets and Boeing’s 787, said last month that engine flying hours were back at 83 per cent of pre-Covid 19 levels.
Its business model of earning revenues on engines in the air and on after-market sales was badly hit by the grounding of a large portion of the world’s fleet during the pandemic.
The strong rebound in the aviation industry is underpinning a buying spree from airlines across the globe, bolstering order books at Boeing and Airbus. While demand for new aircraft has been concentrated largely in smaller, short-haul and medium-haul aircraft, demand for wide-body planes has accelerated.
Executives meeting at the Paris Air show after a four-year hiatus following the Covid pandemic have said demand is outstripping supply amid persistent supply chain constraints.
Air India on Tuesday finalised an order for 470 aircraft from both Airbus and Boeing, including 40 A350 wide-body jets which are powered by Rolls-Royce’s Trent XWB engines.
Stan Deal, head of Boeing’s commercial aircraft division, told the Financial Times separately that there was “a lot of robust ordering”. A lot of the orders being placed were for aircraft to be delivered “out into the 2030s”.
“A lot of airlines are getting back to a growth story and trying to assure they have capacity locked up for that growth story year after year,” he said.
Erginbilgic, who is in the middle of a radical transformation of Rolls-Royce, told reporters at the show that progress was being made.
He also said the company did not need to re-enter the market for single-aisle aircraft to grow in the future but did not rule out a partnership. Rolls-Royce, he said, does not need “narrow-body to take the business where we want to take it”. The company’s wide-body business would continue to grow, he added, as would its business jets segment.
Rolls-Royce left the market for single-aisle aircraft more than a decade ago when it pulled out of a joint venture with Pratt & Whitney of the US. There has been speculation that the company would need to find a
China Passenger volume Year over Year Growth
YOY% increased.
Domestic up 36.5%
Hong Kong Macau Taiwan Up 249.8%
International up 556.6%
Rolls-Royce powers 60 percent of China's widebody fleet, powering more than 550 aircraft.
The Trent 700 engines also power 90 percent of the country's Airbus A330 fleet and China fleet represents 20 percent of all Trent engines flying today.
http://www.caac.gov.cn/en/HYYJ/SJ/202303/P020230321393264665880.pdf
If Chinese trajectory holds till 11 MAY 2023 we should get insights and a share price catalyst from that AGM and Trading Update.
FAO...
Hi Craig,
I'm a huge lse.co.uk fan!
I have a request could you please update the broker recommendations for Rolls Royce.
https://www.lse.co.uk/ShareBrokerTips.asp?shareprice=RR.&share=Rolls-Royce
It seems as though you consistently update some brokers but completely miss others and it's a very active lse.co.uk board for RR.
Currently needs an update for the majority of brokers including;
Citigroup
Barclays
Jeffries
BofA
Deutsche
Berenberg
Shore
At the moment it displays a lot of reiterations from JP Morgan
Kind regards,
HKidane
Hkidane
Thank you for your email. I'll speak to the technical team and ask that they check with the data supplier to get these updated as soon as possible.
Kind regards,
Craig
lse.co.uk
Could someone or pls email LSE.co.uk lets ask them to update RR Broker recommendations for:
Citigroup
Barclays
Jeffries
BofA
Seems to just be an up to date reiteration of JPMorgan, Perhaps David Perry office made sure his recommendations are accurate?
01702 619139 or email: info@lse.co.uk.
https://www.telegraph.co.uk/business/2023/03/13/rolls-royce-make-nuclear-reactors-aukus-attack-submarines/
Rolls-Royce to make nuclear reactors for Aukus attack submarines
Deal means that next-generation vessels will be powered by British-made design
Nuclear reactors powering the next-generation Australian submarines being built under the Aukus defence pact will be made by Rolls-Royce to a British design, officials have said.
The deal for the submarines – which are intended to help Australia counter Chinese aggression and will be delivered from the 2040s – will also secure the future of the UK’s manufacturing yard at Barrow in Furness for decades to come.
In addition to the reactors, Britain is expected to supply other vital parts including elements of the vessels’ sonar arrays.
https://www.cnbc.com/2023/03/12/stock-market-futures-open-to-close-news.html
Stock futures jumped Sunday evening after regulators announced a plan to backstop all the depositors in failed Silicon Valley Bank and make additional funding available for other banks.
S&P 500 futures gained 1% and Nasdaq 100 futures rose 1.1%. Futures tied to the Dow Jones Industrial Average were up by 227 points.
All Silicon Valley Bank depositors will have access to their money starting Monday, according to a joint statement from the Treasury Department, Federal Reserve and the FDIC.
“We went into the weekend as just a very binary event. Either 100% of the uninsured depositiors were going to be backstopped, or not, Peter Boockvar, chief investment officer at Bleakley Financial Group, said Sunday during a CNBC special. “Now that we have that backstop, the markets are going to celebrate. It doesn’t necessarily answer the problem of what happens from here in terms of the economic impact [from] banks that are going to have to raise deposit rates across the board.”
“Going forward, I’m more worried about bank profitability than bank balance sheets,” he added.
The Federal Reserve said it is creating a new Bank Term Funding Program aimed at safeguarding deposits The facility will offer loans of up to one year to banks, saving associations, credit unions and other institutions.
“This action will bolster the capacity of the banking system to safeguard deposits and ensure the ongoing provision of money and credit to the economy,” the Fed said in a statement. “The Federal Reserve is prepared to address any liquidity pressures that may arise.”
"£1.50 I will throw absolutely everything at this, I thought it was good at 139."
How much was everything?
1.39 Good
1.50 Everything
1.59 Remortgage time?
22 year old could have benefited instead.
Stop chasing the losses.....
Smell the coffee
Many Investors were wrong footed by CEO comments RedInky etc...
His speech was Leaked not meant for investor consumption.
He had to say that!
Unfortunately you're reciting Speech like it was a deliberate False Flag ?
Staff should invest with trust & confidence from what they're contributing, while Investors are meant to analyse Macro conditions.
Stop blaming his speech cut the losses, maybe even pick an entry point and go LOOOONG?