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Attendees watch as the Archer Aviation Maker is unveiled on Thursday in Hawthorne, California. | AFP-JIJI
Bloomberg Jun 14, 2021
Flying taxis have moved a step closer to becoming a fixture buzzing across the world’s urban skyscapes after startups in the U.K. and Brazil made commercial breakthroughs and a closely watched effort was unveiled in Los Angeles.
Vertical Aerospace Group, based in Bristol, England, won conditional orders for as many as 1,000 electric aircraft that could total $4 billion from buyers including American Airlines Group Inc. and Virgin Atlantic Airways Ltd., it said last week.
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Final IHS Markit manufacturing PMI readings for May showed activity in the euro zone hitting a record high 63.1, up from 62.9 in April and exceeding an initial flash estimate of 62.8.
In the U.K., factory activity rose to 65.6 in May from 60.9 in April, its sharpest increase since records began, as a windfall of new orders drove the country s industrial resurgence.
The European Commission on Monday proposed that vaccinated tourists should be exempted from mandatory testing or quarantine measures when travelling between EU nations, urging a progressive easing of travel restrictions to accommodate rising Covid-19 inoculations.
In corporate news, Atlantia investors on Monday backed the $11 billion sale of the Italian infrastructure group s stake in its motorway division to state bank CDP and allies Blackstone and Macquarie.
By Elliot Smith, CNBC •
Updated 47 mins ago
AFP | AFP | Getty Images
Final IHS Markit manufacturing PMI (purchasing managers index) readings for May are due out of the euro zone and the U.K. on Tuesday morning, along with flash euro zone inflation figures and unemployment rates. Italy confirms its final first-quarter GDP growth rate.
Oil prices also surged overnight during Asian trading hours, with international benchmark Brent crude futures up 1.72% at $70.51 per barrel. U.S. crude futures advanced 2.43% to $67.93 per barrel.
European markets moved higher on Tuesday after closing out their fourth straight month of gains, with a host of economic data out of the euro zone coming into view.