6 Most Important Things in Business Today: Airbus Jet Order Crushes Boeing

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A U.S. company is about to make a record purchase of planes from Airbus, Boeing Co.’s (NYSE: BA) major rival. According to Reuters:

Airline pioneer Bill Franke looked set to place a historic $40 billion order for around 400 Airbus A320 jets, shaking up the low-cost industry and turning the annual race between Airbus and Boeing for plane orders on its head.

Japan’s economy continues to grow after years of stagnation. According to The Wall Street Journal:

The Japanese economy grew at an annualized pace of 1.4% in the most recent quarter, marking its longest growth streak in 16 years with help from stronger global demand.

Warren Buffett increased his stake in Apple Inc. (NASDAQ: AAPL) in the third quarter and cut his holdings in International Business Machines Corp. (NYSE: IBM), according to 24/7 Wall St.

FlyDubai gave Boeing a big aircraft order. According to CNNMoney:

Boeing announced a record-breaking jetliner order from a Middle Eastern airline on Wednesday.

The aviation giant said that FlyDubai of the United Arab Emirates has committed to buy 175 of its 737 Max planes and will have the rights to buy another 50.

Altogether, the 225 aircraft have a total value of $27 billion at list prices.

Boeing said it was the biggest ever order from the Middle East for single-aisle passenger planes

The “top 1%” now hold over half the world’s wealth. According to The New York Post:

The global wealth imbalance is growing, a shocking new report reveals.

The top 1 percent have amassed more than half of the world’s wealth and control 50.1 percent of the planet’s $280 trillion in assets as of mid-2017, the report found.

Retailer Forever 21 is the latest in the industry to report a hack of customer records. According to Reuters:

Fashion retailer Forever 21 said on Tuesday there had been unauthorized access to data from payment cards used at certain of its stores.

The company said the results were part of an investigation it started after it received a third-party report suggesting the unauthorized access.

The Los Angeles, California based company said the probe was focused on transactions made at its stores between March and October this year, and that since the investigation was ongoing, it could not give complete findings.