Las Vegas Sands Corp. (NYSE: LVS) CEO and Chairman, Robert G. Goldstein, has sold 100,000 shares of the company’s common stock, according to a recent SEC filing. The transaction, which took place on March 15, 2024, amounted to over $5.2 million, with shares sold at a weighted average price of $52.06.
The sales were executed in multiple transactions with prices ranging between $52 and $52.26. Post-transaction, Goldstein still holds 172,801 shares indirectly through The Robert and Sheryl Goldstein Trust, signifying a continued stake in the company’s future.
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Virgin Australia will launch the country’s first-ever airline baggage tracking tool across more than two thirds of its domestic network tomorrow, allowing guests to know where their bag is at every step of the journey.
With digital tracking now part of everyday life, Virgin Australia’s new seamless travel experience is the latest instalment of the airline’s broader transformation program.
The tool, which has been two years in the making, comes as lost baggage remains a pain point for travellers across the globe. Despite this, Virgin Australia far outperforms the industry average for mishandled baggage, with a mishandled baggage rate of around 1.5 per 1,000 guests – five times better than the last recorded industry average.
The first-to-market technology is set to free guests from the fear of losing their bags next time they fly, with Virgin Australia anticipating a rise in guests checking in baggage as a result of the new tracking tool.
Initially piloted in May 2023, the tracking tool will be available on most domestic routes between major airports, including Sydney-Melbourne, Brisbane-Sydney, Melbourne-Gold Coast, Melbourne-Hobart, Adelaide-Melbourne, Sydney-Sunshine Coast, and more (refer Notes to Editor). The airline’s remaining domestic network, including select services departing Perth, are expected to feature the tracking tool soon.
The first of the 12000-horsepower, Prima T8 electric locomotives has been put into commercial service by Indian Railways. Built by Alstom and certified by the Ministry of Railways and Commissioner of Railway Safety/RDSO, the electric locomotives – known locally by the designation WAG-12 – are the most powerful locomotives to run on Indian rails. The 2015 contract will see a total of 800 locomotives built for Indian Railways.
Set to revolutionise freight logistics in the country, the e-locos will allow faster and safer movement of heavy freight trains, capable of hauling 6000 tonnes at a top speed of 120 km/h. Planned for deployment on Dedicated Freight Corridors (DFCs), they will increase the average speed of freight trains in India by approximately 25 km/h. Equipped with Insulated Gate Bipolar Transistors (IGBT) propulsion technology, the e-locos will also allow considerable savings in energy consumption thanks to the use of regenerative braking.
“Alstom is very pleased to be delivering these electric locomotives to Indian Railways. The introduction of the Prima locomotives into the IR fleet demonstrates our commitment to the country. This revolutionary product which will be faster, safer and more environmentally friendly, and it will help write a new chapter for India’s sustainable mobility journey. We are immensely proud to be a partner in this,” said Ling Fang, Senior Vice President of Alstom Asia-Pacific.
In line with the Make-in-India mandate, all the 800 Prima locomotives are being manufactured locally. Designed at Alstom’s Engineering Centre in Bengaluru, the Prima T8 WAG-12 are being built in one of India’s largest integrated greenfield manufacturing facilities at Madhepura in Bihar. Spread across 250 acres, with a production capacity of 120 locomotives per year, the Madhepura site is built to international standards of safety and quality. Two ultra-modern maintenance depots in Saharanpur and Nagpur will ensure the high service availability of the locomotives. The Saharanpur depot is already operational and the one in Nagpur is under construction. Equipped with the latest features, these depots will play a critical role in maintaining India’s most advanced freight locomotives at significantly lower costs.
As part of the largest Foreign Direct Investment (FDI) project of Indian Railways, in 2015 the Ministry of Railways and Alstom signed a contract worth €3.5 billion (INR 25,000 crore) and created a joint venture for the project. The contract allowed for the manufacture of 800 double-section, 12000-horsepower electric locomotives for freight service and associated maintenance for a period of 11 years. The scope also included the set-up of a manufacturing plant at Madhepura (Bihar) for building the e-locos and two maintenance depots at Saharanpur (Uttar Pradesh) and Nagpur (Maharashtra). A true embodiment of India’s vision, the project will create more than 10,000 direct and indirect jobs in the country (primarily in the states of Bihar, Uttar Pradesh and Maharashtra).
I always love to read stories about the generosity of great corporations. Especially during times when self-centered politicians love to bash them so that they can profit from the potential graft a pending victory can bring. -WB
PRNewswire/ — Wynn Resorts (Nasdaq: WYNN), the world’s leading resort company based in Las Vegas, Nevada, announced today that the Company will extend paying all salaried, hourly and part-time employees through May 15, for a total of 60 days of payroll continuance. The Company decided to take this action as part of its shared responsibility for the health and safety of its employees, their families and the Las Vegas and Greater Boston communities during this pandemic.
Payroll coverage will include more than 15,000 current Wynn and Encore employees. For tipped employees, it includes the average tip compliance rate or distributed tips/tokes since the beginning of the year.
“It is our shared responsibility to follow the direction of health and safety professionals to stay home, and limit social contact,” said Wynn Resorts CEO Matt Maddox. “We owe it to each other, our families and to our community.”
For more information on Wynn’s health and safety measures, please visit www.WynnInfo.com.
The Encore Boston Harbor Casino in Everett seen from Somerville. (Jesse Costa/WBUR)
DETROIT (Reuters) – Tesla Inc’s <TSLA> Model 3 and S sedans both regained “recommended” status in Consumer Reports magazine’s annual reliability survey, allowing the electric carmaker’s overall standing to rise slightly.
Tesla’s ranking improved four spots to No. 23 out of 30 brands in the U.S. market as it worked to resolve production problems with the Model 3, said Jake Fisher, senior director of auto testing at Consumer Reports. Both the Model 3 and S raised their reliability ratings to “average.”
“People really like their cars,” he said of Tesla owners. “Hopefully, if that frantic rate of change can slow down a bit, they can maintain reliability.”
Tesla has touted the popularity of the Model S, listed in the top ranks of a different Consumer Reports survey, on owner satisfaction, every year since 2013 when the carmaker was first included.
Fisher cautioned he expected Tesla’s reliability to remain fluid given its inconsistent track record.
Tesla’s Model X SUV still ranks among the least reliable models, according to the annual survey released on Thursday.
The poll predicts which new cars will give owners fewer or more problems, based on data collected for more than 400,000 vehicles. Its scorecard is influential among consumers and industry executives.
Reliability rankings tend to suffer when automakers offer new or redesigned models, which dragged down Volkswagen AG’s <VWAGY> namesake and Audi brands. The VW brand slid nine spots to No. 27, while Audi fell seven spots to No. 14.
Brands with no major changes to their lineups, such as Fiat Chrysler Automobiles’ <FCAU> Dodge and Chrysler, made significant gains. Dodge was the highest ranked U.S. brand at No. 8, making the biggest gain of 13 spots. Chrysler rose seven spots to No. 19, while Jeep finished at No. 26.
Ford Motor Co’s <F> Lincoln and Ford brands were No. 15 and 16, while General Motors Co’s <GM> Buick, GMC, Chevrolet and Cadillac brands ranked No. 18, 22, 25 and last at 30, respectively.
The reliability of full-sized pickups, the most popular vehicles in the U.S. market, was weak. Ford’s F-150 and FCA’s Ram trucks were rated “well below average,” while GM’s pickups – the Chevrolet Silverado and GMC Sierra – both had “below average” reliability.
Toyota Motor Corp’s <TM> Lexus luxury brand finished atop the survey, followed by Mazda Motor Corp <MZDAY> and the Toyota brand.
(Reporting by Ben Klayman in Detroit; Editing by Richard Chang)
(Reuters) – Boeing Co (BA.N) delivered a record 806 aircraft in 2018 as it overcame supplier woes, retaining the title of the world’s biggest planemaker for the seventh straight year.
The company’s shares rose as much as 3.9 percent to $340.90 and were the biggest percentage gainer on the Dow Jones Industrial Average (.DJI).
European rival Airbus SE (AIR.PA), which will report its numbers on Wednesday and lags behind Boeing due to engine delays, said it achieved its 800-jet target pending final audit.
“Overall, Boeing is taking market share from its main competitor Airbus and is well positioned with strong commercial and military demand,” said CFRA Research analyst Jim Corridore, who upgraded the stock to “strong buy” from “buy”.
Investors and analysts closely watch the number of planes Boeing turns over to airlines and leasing firms for hints on the company’s cashflow and revenue.
The latest numbers indicate that fuselage and engine delays at suppliers in 2018 are largely behind Boeing as it gears up to meet surging demand for airplanes in 2019 amid booming air travel.
“In addition to the ongoing demand for the 737 MAX, we saw strong sales for every one of our twin-aisle airplanes,” said Ihssane Mounir, senior vice president of commercial sales and marketing.
To mitigate supply chain snarls, Boeing helped expand production capacity at suppliers who have hired workers, including retirees this year.
In October, its biggest supplier Spirit AeroSystems Holdings Inc (SPR.N) said it was back on track to meet the surging demand for its aircraft parts.
CFM International, co-owned by France’s Safran (SAF.PA) and General Electric Co (GE.N), also affirmed in the same month its commitment to deliver 1,100 to 1,200 units despite being roughly four weeks behind schedule.
ORDER BOOM
Boeing also looked set to beat Airbus for aircraft orders on a like-for-like basis in 2018 after booking 893 net orders, excluding cancellations in the year.
Meanwhile, Airbus ended November with 380 net orders, to which it has since added confirmed deals for another 220 aircraft.
According to industry sources, it won another 150 from Asian-backed leasing companies that are yet to be announced, with Boeing also getting a lift from Chinese demand.
The Airbus tally, however, included 120 of the former Bombardier CSeries, a Canadian plane programme which it bought last year.
Orders for Boeing and Airbus are seen down compared to 2017 as airlines fret over trade tensions and the slowing global economic growth. But deliveries at both rose on the back of an earlier order boom.
“69 December 737 deliveries suggest (supplier) bottlenecks easing. Solid December book-to-bill closes year at 1.1x and helps mitigate cycle concerns,” Credit Suisse analyst Robert Spingarn said in a client note.
(Reporting by Ankit Ajmera in Bengaluru and Tim Hepher in Paris; Editing by Saumyadeb Chakrabarty and Arun Koyyur)
