Business Desk
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
AVIATION
BOEING, AIRBUS TRUMPET NEW ORDERS IN PARIS
LE BOURGET, France – Boeing and Airbus both announced new plane sales yesterday at the Paris Air Show – a platform, more than ever, for their closely fought transatlantic rivalry. Indian carrier Jet Airways agreed to buy 10 Boeing 777s and 10 737s -together worth $2.8 billion at list price -as well as 10 Airbus A330 planes with a sticker value of $1.6 billion. Boeing said GE Commercial Aviation Services, a plane leasing company, had ordered 20 737s worth $1.1 billion on paper. None of the actual transaction values were disclosed.
Boeing also announced an order from International Lease Finance for 20 next generation 737s and eight 777s – together worth almost $2.9 billion at list prices. Another leasing company, Kuwait-based ALAFCO, signed up for 12 units of the planned Airbus A350, the main rival to Boeing’s 787 “Dreamliner,” in a deal worth about $1.9 billion at list price.
– Associated Press
ECONOMY
MAY PPI, RETAIL SALES FALL AS ENERGY PRICES DROP
WASHINGTON – Falling oil prices helped drive down the producer price index and retail sales during May, but economists indicated the data wouldn’t divert Federal Reserve policy. Producer prices dropped 0.6% last month, reversing April’s 0.6% increase, the Labor Department said yesterday. Core prices excluding food and energy crept up 0.1% in May after April’s 0.3% rise.
Retail sales followed an April surge by decreasing for the first time since last summer, sinking 0.5% in a drop caused partly by sagging demand for cars and lower gasoline sales, the Commerce Department said.
– Dow Jones Newswires
NEW YORK
MANHATTAN’S FIRST HIGH-TEMPERATURE FUEL CELL POWER PLANT INSTALLED
Looking up at the roof of the four-story Sheraton New York Hotel and Towers, passersby may notice an unobtrusive metal box about the size of a truck trailer. Few would guess it’s a power plant supplying 10% of the hotel’s electricity and hot water.
The 250-kilowatt apparatus, the first high-temperature fuel cell power plant in Manhattan, was recently installed by PPL Corporation. “Our technology is exceptional because it’s ultraclean,” said Steven Eschbach of FuelCell Energy. “There are virtually no harmful emissions.”
The New York State Energy Research and Development Authority provided $920,000 toward the project cost of $1.84 million, and has funded the installation of eight other units at water-treatment facilities and educational institutions.
– Special to the Sun
