On 27 September the US Department of Commerce proposed imposing punitive tariffs on sales of the C Series further to a complaint by Boeing that Bombardier had received unfair state subsidies from the Canadian and UK governments – Bombardier has an important manufacturing unit in Northern Ireland. This is a particularly sensitive matter for the minority Conservative government in London which relies on support from the Democratic Unionist Party (DUP) at Westminster.
It should be noted that the aerospace industry globally is bedevilled by claims and counter-claims of state subsidy. Boeing has been pursuing a court case against Airbus for years and Boeing itself stands accused of state subsidy, being one of the largest defence contractors to the US Defence Department. It is alleged that profits from the military aircraft operation have been used to cross-subsidise the civil aircraft operation. That type of allegation, however, is very difficult to prove.
by Robert Stephens| Equities| 2 mins. to read The tobacco industry faces tighter regulation and increasingly health-conscious consumers. However, it continues to offer a highly sustainable source of income for the long term. The potential for a rising absolute number of smokers across the world, pricing power and defensive characteristics mean that it is likely to remain a haven for income investors.
by Evil Knievil| Evil Diaries| 1 mins. to read My generation laments the passing of Sabrina, born Norma Sykes, named after the daughter of the King of Britain and drowned in the river Severn. She was, she claimed, the Manchester junior breaststroke champion but I think she was kidding: she was surely the world senior breaststroke champion.
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