Vertical Aerospace, Bristow expand partnership to launch commercial air taxi services
Texas-based Bristow Group - which offers short-distance helicopter rides in several countries, including the UK and the U.S. - has also placed an order for up to 50 of Vertical's VX4 aircraft, with the option to purchase 50 more.
Air-taxi startups are racing to get approvals and commercialize electric vertical takeoff and landing (eVTOL) aircraft, betting on growing demand for faster, more sustainable urban transportation.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Chevron Corp (CVX) Q2 2025 Earnings Call Highlights: Strategic Moves and Record Production ...
Earnings: $2.5 billion or $1.45 per share. Adjusted Earnings: $3.1 billion or $1.77 per share. Organic CapEx: $3.5 billion, the lowest quarterly total since 2023. Inorganic CapEx: Approximately $200 million, primarily for lithium acreage acquisition. Cash Flow from Operations: $8.3 billion, excluding working capital. Adjusted Free Cash Flow: $4.9 billion, a 15% increase quarter-on-quarter. Production Growth: Over 40,000 barrels per day increase from last quarter. Production Guidance: Expected growth closer to the top end of 6% to 8% range, excluding Hess. Annual Run-Rate Synergies: $1 billion expected by year-end, six months ahead of schedule. Structural Cost Reductions: Targeting $2 billion to $3 billion by the end of 2026. Additional Free Cash Flow Guidance for 2026: Increased to $12.5 billion. Warning! GuruFocus has detected 1 Warning Sign with BMNM. Release Date: August 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Chevron Corp (NYSE:CVX) achieved a quarterly production record both in the US and worldwide, with significant growth in the Permian Basin. The company successfully acquired lithium-rich acreage in Texas and Arkansas, marking a strategic move into the lithium market. Chevron Corp (NYSE:CVX) returned over $5 billion to shareholders for the 13th consecutive quarter, demonstrating strong shareholder returns. The merger with Hess was completed, adding long-term low-cost growth in Guyana and expanding the shale portfolio. Chevron Corp (NYSE:CVX) expects to realize $1 billion in annual run-rate synergies from the Hess merger by the end of the year, six months ahead of schedule. Negative Points Adjusted second quarter earnings were down $760 million versus the previous quarter, impacted by lower realizations and higher depreciation. Foreign currency effects decreased earnings by $348 million, highlighting exposure to currency fluctuations. The Bakken shale portfolio, despite its expansion, is currently free cash flow negative due to significant midstream tariffs. Chevron Corp (NYSE:CVX) faces challenges in exploration results, with recent years not yielding the desired outcomes. The integration of Hess assets and the associated capital requirements may increase overall CapEx in the near term. Q & A Highlights Q: Can you provide insights into the capital spend expectations for the Permian Basin in 2026 and 2027 compared to 2025? A: Mark Nelson, Vice Chairman, Executive Vice President - Strategy, Policy and Development, explained that Chevron plans to be at the lower end of the $4.5 billion to $5 billion capital spend range for 2025 due to efficiencies. The company expects to further reduce capital expenditure while increasing free cash flow in the Permian, with more details to be shared at the upcoming Investor Day. Q: How confident are you in achieving the $10 billion standalone and $2.5 billion Hess-related free cash flow targets? A: Eimear Bonner, Chief Financial Officer, Vice President, expressed high confidence in achieving these targets. The $10 billion is supported by derisked production profiles and cost reduction programs. The $2.5 billion from Hess is expected from synergies and production growth, with significant milestones already achieved. Q: What are the expected benefits of Chevron's new organizational structure? A: Mark Nelson highlighted that the new structure groups similar assets to accelerate best practices, standardizes work to leverage scale and technology, and simplifies processes to improve performance. This is expected to enhance operational execution, major project delivery, and turnaround efficiency. Q: How does Chevron view the role of tight oil in its portfolio, especially after integrating Hess? A: Michael Wirth, Chairman of the Board, Chief Executive Officer, stated that tight oil now represents a significant portion of Chevron's production. The focus is shifting from growth to free cash flow generation, with the aim to maintain a balanced portfolio that supports shareholder returns. Q: Can you update us on Chevron's operations in Venezuela? A: Michael Wirth confirmed that Chevron has been operating in Venezuela for over 100 years. Recent changes in US sanctions policy will allow limited oil flows to the US, benefiting Gulf refiners. While not materially impacting third-quarter results, it will help recover some of the debt owed to Chevron. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New York Post
an hour ago
- New York Post
Jaguar CEO Adrian Mardell steps down after ‘woke' rebrand sparked massive social media firestorm
The Jaguar CEO is stepping down months after leading a controversial 'woke' rebrand campaign for the auto company. Jaguar Land Rover CEO Adrian Mardell is set to retire after three decades at the luxury car company and serving as CEO for three years, a spokesperson for the automaker announced on Thursday, Reuters reported. Advertisement The British car brand turned heads last year with its release of a new ad, which featured a reimagined logo under the slogan 'Copy Nothing.' The ad featured androgynous models in brightly colored, over-the-top outfits, including one man wearing a dress, along with other slogans such as 'create exuberant,' 'live vivid,' 'delete ordinary' and 'break moulds.' The ad did not feature a car throughout its entire 30-second run. The video blew up on social media, drawing tens of thousands of comments and nearly 47 million views in 24 hours. Advertisement 4 Jaguar Land Rover CEO Adrian Mardell speaks during a visit to a factory with British Prime Minister Keir Starmer in Birmingham, England on April 7, 2025. via REUTERS 4 Actors in colorful clothing appear during a Jaguar rebranding commercial. Jaguar Shortly after the ad premiered, X users piled onto the company for releasing what they called a 'Bud Light 2.0' campaign by appearing to focus on wokeness and modernism over selling cars. 'This just made me want to sell my Jaguar and I don't even own a Jaguar,' conservative corporate activist Robby Starbuck joked. Advertisement Columnist Jon Gabriel wrote, 'This is so the wrong timing for this. I can understand the C-suite being conned into this in 2022, but you have completely misread the moment. Bud Light 2.0.' 4 The ad featured androgynous models in brightly colored, over-the-top outfits, including one man wearing a dress, along with other slogans such as 'create exuberant.' Jaguar 4 The ad did not feature a car throughout its entire 30-second run. Jaguar Advertisement Jaguar defended the ad in a statement to FOX Business at the time. 'Our brand relaunch for Jaguar is a bold and imaginative reinvention and, as expected, it has attracted attention and debate. As proud custodians at such a remarkable point in Jaguar's history, we have preserved iconic symbols while taking a dramatic leap forward. The brand reveal is only the first step in this exciting new era, and we look forward to sharing more on Jaguar's transformation in the coming days and weeks,' it said. Soon after, Jaguar took heat with the release of its new EV design that was called a 'pink Batmobile.' Jaguar did not immediately respond to FOX Business' request for comment.
Business Insider
an hour ago
- Business Insider
Don't Expect Apple Stock (AAPL) to Pop Until AI and Tariff Uncertainty Ease, Say Analysts
Apple (AAPL) stock was higher today after analysts largely gave a thumbs up to its strong Q3 results, but investors shouldn't expect a huge uptick until AI and tariff overhangs are dealt with. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. The tech giant yesterday announced earnings per share (EPS) of $1.57, which topped consensus expectations of $1.43. Revenue in the April through June quarter came in at $94.04 billion, beating Wall Street forecasts of $89.53 billion. The Silicon Valley-based company also reported that its iPhone sales grew 13% year-over-year during the quarter and its overall revenue grew 10%, the largest quarterly revenue growth since December 2021. Time for AI Krish Sankar, five-star TipRanks-rated analyst at TD Cowen, reiterated his Buy rating on the stock and kept a $275 price target. 'Revenue growth was better than feared, driven by above seasonal iPhone and Mac demand,' he said. He said that concerns over Apple's 'incomplete AI strategy' were an ongoing overhang for the stock but that the company has around 18 months to 'rectify' this. 'The personalized Siri is still on track for a 2026 release and Apple has increased AI retail spend across research and development,' he said. ' While investors are understandably focused on Apple's lack of leadership in AI models and Agentic AI systems, the declining cost to access models can be leveraged.'. Morgan Stanley analyst Erik Woodring raised the firm's price target on Apple to $240 from $235 and kept a Buy rating. He said Apple's report was its strongest quarterly report in over two years. Historically, he said this would be a quarter 'where bulls get louder,' but he doesn't expect Apple to 'break out until clarity emerges on tariffs and regulation.' Srini Pajjuri, analyst at Raymond James, raised the firm's price target on Apple to $240 from $230 and kept an Outperform rating. He was encouraged by accelerating capex spend and expects Apple Intelligence, including the much-awaited Siri update, to drive a multiyear upgrade cycle. Valuation Risk Needham analyst Laura Martin reiterated her Hold rating. She said the impressive financial performance was overshadowed by concerns about the company's future growth prospects. This included the anticipated delay in the integration of Apple Intelligence until after 2025 and the competitive pressure from Android's advancements. She highlighted the risk associated with Apple's heavy reliance on the iPhone, suggesting that if Apple's iOS system lags significantly behind Android, it could pose a substantial valuation risk for the company. Indeed, the group has struggled in comparison with its peers over the last 12 months. Is AAPL a Good Stock to Buy Now? On TipRanks, AAPL has a Moderate Buy consensus based on 13 Buy, 12 Hold and 1 Sell ratings. Its highest price target is $275. AAPL stock's consensus price target is $228.11, implying an 8.09% upside.
