World
White House defends new Air Force One deal after Trump's attack on expense
The White House defended the deal of new Air Force One aircrafts with Boeing company, after President-elect Donald Trump called for cancelling the order claiming the new aircraft too expensive in a Twitter post earlier on Tuesday.
 
"I think the American people would expect that future presidents would benefit from unique and upgraded capabilities while flying aboard Air Force One," White House press secretary Josh Earnest told reporters on board the presidential plane flying to Tampa, Florida.
 
However, it's up to the Trump administration to determine whether the project will be completed, said Earnest.
 
"The updated Air Force One is not set to come online until 2023," he said. "This is a longer-range plan, but ultimately the planning work that we have done on behalf of future presidents is something the next administration will have to decide to carry forward." he said.
 
"Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!" Trump tweeted.
 
"We want Boeing to make a lot of money, but not that much money," he then told reporters in a briefing.
 
However, the $4-billion price tag Trump claimed for the cost of the new aircraft could not be immediately confirmed.
 
Earnest said some of the data Trump referenced to "don't appear to reflect the nature of the financial agreement between Boeing and the Department of Defence."
 
The upgrades to the new plane, which include security enhancements, are being made per the recommendation of national security experts, he added.
 
Also on Tuesday, Boeing said in a statement that the company is "currently under contract for $170 million to help determine the capabilities of these complex military aircraft that serve the unique requirements of the President of the United States."
 
The two 747-200 aircrafts currently used as Air Force One has been in flight since the Reagon era in 1980s. Though the two planes have been heavily modified, they are due to reach the end of their planned 30-year life in 2017.
 
In January, Boeing secured a contract from the Pentagon to start development work on the 747-8 jumbo jets that would replace the aging planes, according to a Wall Street Journal report. 
 
Boeing was the US government's second biggest federal contractor last year behind Lockheed Martin Corp., according to federal procurement data.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

User

Jayalalithaa alive but on life support
Tamil Nadu Chief Minister J. Jayalalithaa is alive and on life support, Apollo Hospitals announced on Monday evening, after a TV report about her death sparked trouble and mass frenzy.
 
"Some TV channels are wrongly reporting that the Chief Minister is no more. This is totally baseless and false," a statement from the hospital said, denying a Sun TV report that Jayalalithaa was no more.
 
The hospital said Jayalalithaa, 68, who suffered a cardiac arrest on Sunday evening, "continues to be on life support at the hospital".
 
A large number of doctors from Apollo and AIIMS continue to provide all life saving measures, tweeted Sangita Reddy, Managing Director of Apollo Hospitals.
 
The clarification came after the TV channel report triggered frenzy both outside the hospital, where thousands had gathered since her cardiac arrest on Sunday evening, and at the AIADMK headquarters.
 
A group of emotionally charged AIADMK activists tried to barge into the hospital after breaking the barricades but were pushed back. Many others broke down, unable to check their emotions, loudly crying "Amma, Amma!"
 
Some people hurled water bottles at police.
 
At the AIADMK headquarters in Chennai, the party flag was brought down to half mast but was restored to its original position once the Apollo clarification came.
 
Inside, hundreds of people wept on hearing the Sun TV report. "How can you leave us?" cried one man. 
 
Earlier, Apollo said: "Despite our best efforts, our beloved CM remains in a grave situation."
 
Richard Beale from the London Bridge Hospital, who has been regularly consulted by doctors in Chennai, said the situation for Jayalalithaa was "extremely grave".
 
"I can confirm that everything possible is being done to give her the best chance of surviving (the cardiac arrest)," he added.
 
Earlier, AIADMK MLAs, apparently to pick a successor, trooped to the hospital, which has turned into a virtual fortress with hundreds of police personnel trying to keep at bay the thousands of Jayalalithaa fans.
 
An AIADMK source told IANS that the MLAs were in a hall of the Apollo complex. There is speculation that the party is looking at a successor to Jayalalithaa.
 
Crowds have been gathering outside the hospital from Sunday evening. 
 
Maharashtra Governor C. Vidyasagar Rao, who has additional charge of Tamil Nadu, visited the hospital on Sunday night. But he did not issue any statement after his hospital visit. 
 
Security has been stepped up across the sprawling state where actor-turned-politician Jayalalithaa enjoys widespread support.
 
A large number of people gathered outside the hospital were from the economically weaker sections. Man broke down. Some men and women, their hands folded, offered silent prayers. 
 
Supporters also flashed posters and photographs of Jayalalithaa, for decades the undisputed leader of the AIADMK.
 
Special prayers were offered in places of worships in Krishnagiri, Trichy, Tuticorin, Erode, Kanchipuram, Dharmapuri, Sivaganga and Coimbatore for the Chief Minister who was admitted to the hospital in September.
 
Apollo Hospitals had days ago said she was on the road to recovery and she could take a decision on going home.
 
As she became critical on Sunday, some parts of Chennai experienced shortages of milk as traders jacked up prices fearing a shutdown.
 
President Pranab Mukherjee joined the political class in wishing Jayalalithaa a "speedy recovery".
 
DMK chief M. Karunanidhi and his son and party leader M.K. Stalin also conveyed their best wishes for her recovery.
 
Congress Vice President Rahul Gandhi said: "I hope she gets better very soon," said .
 
Chief Ministers Mamata Banerjee of West Bengal, Devendra Fadnavis of Maharashtra, Vasundhara Raje of Rajasthan counterpart also prayed for her soon recovery.
 
Meanwhile, authorities in Kerala strengthened security on the border with Tamil Nadu. Police were put on alert in Thiruvananthapuram, Kollam, Idukki and Palakkad districts that border Tamil Nadu.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Nifty, Sensex may head higher if Monday’s low holds: Monday closing report
We had mentioned in Friday’s closing report that Nifty and Sensex, which ended on a low and are on an uncertain course. Indian shares closed higher on Monday after two straight sessions of falls, helped by a rally in auto makers even as investors awaited monetary policy decision by Reserve Bank of India (RBI) on Wednesday. The Nifty ended 0.52% higher at 8,128.75, while the Sensex closed 0.45% higher at 26,349.10. A spurt of value buying, along with resilience shown by European equities after the failure of Italy’s referendum on constitutional reform, an appreciating rupee and expectation of domestic monetary policy easing, lifted the Indian equity markets on Monday.
 
 
The wider Nifty of the National Stock Exchange (NSE) edged up by 41.95 points or 0.52% to 8,128.75 points. The Sensex touched a high of 26,390.80 points and a low of 26,125.35 points during the intra-day trade. The BSE market breadth was tilted in favour of the bulls with 1,515 advances and 1,107 declines.
 
The domestic currency, which has recovered smartly from an all-time low against the dollar, forced some profit booking on the information technology counter. The BSE IT index plunged 0.74%.
 
The euro sank to a 20-month low against the dollar amid worries over a possible push by Italy to leave the common currency bloc and also concerns over the health of several Italian banks. However, later in the day the currency clawed back almost all the ground it had lost overnight. 
 
The domestic market stayed cautious ahead of RBI’s money policy review, which will take place on Wednesday. 
 
The top gainers and top losers of the major indices are given below:
 
 
On the global front, European markets opened on a positive note after digesting a ‘No’ vote in the constitutional referendum in Italy, which also a provided thrust to the market.
 
The closing values of the major Asian indices are given in the table below:
 
 
 

User

COMMENTS

Kamlesh

4 months ago

i wanted to know what is the future of noida toll gate shares.?

bhavesh pandya

5 months ago

I wanted to read story on Bodal chemical n IFB Agro but could not open Full story ..Guide

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)