General News

(Reuters) - Air Lease Corp reported a lower-than-expected quarterly profit on Monday as it made higher interest payments on funds borrowed to finance aircraft purchases.

The California-based company's results have gained in recent quarters as supply of aircraft from the world's top two planemakers, Boeing and Airbus, have been constrained mainly due to parts and labor shortages.

But Air Lease's interest payments rose 19.8%, to $181.6... (continue reading...)

(Reuters) - United Parcel Service said on Monday that its CFO and Executive Vice President Brian Newman would leave the company on June 1.

UPS will evaluate internal and external candidates to replace Newman, the firm said.

"My near-term priority is to focus on my health," Newman said in a statement.

The largest parcel delivery firm by market capitalization beat analysts' estimates for first-quarter profit in April as cost... (continue reading...)

JERUSALEM (Reuters) - Israeli Prime Minister Benjamin Netanyahu said on Monday that his war cabinet approved continuing an operation in the southern Gaza city of Rafah in order to pressure Hamas to release Israeli hostages and achieve the country's other war goals.

"The war cabinet unanimously decided that Israel continue the operation in Rafah to exert military pressure on Hamas in order to advance the release of our hostages and the other goals of... (continue reading...)

By David Shepardson and Allison Lampert

WASHINGTON (Reuters) -The Federal Aviation Administration said on Monday it has opened an investigation into the Boeing 787 Dreamliner after the planemaker said some employees had committed "misconduct" by claiming some tests had been completed.

The FAA said it is investigating whether Boeing completed the inspections to confirm adequate bonding and grounding where the wings join the fuselage on certain... (continue reading...)

By Carolina Mandl

Beverly Hills (Reuters) - Ken Griffin, Citadel's founder and chief executive, said on Monday that he is unsure when the Federal Reserve may be able to cut interest rates this year, but it may come in December.

Speaking at the Milken conference, Griffin said two factors may make it more difficult for the Fed to cut rates soon: stickier inflation in services and the U.S. presidential elections in November.