The deal with Foxconn, the world’s largest electronics manufacturer, was announced by President Trump at a White House ceremony, and he traveled to Wisconsin in 2018 for the groundbreaking.
Foxconn signed a contract with Wisconsin under then-Gov. Scott Walker (R) in 2017 to earn nearly $4 billion in state and local tax incentives for a $10 billion display screen manufacturing campus and plant that would employ up to 13,000 people. But Walker lost in 2018 to Democrat Tony Evers, who ran as a critic of the project.
After the deal was signed, Foxconn said it was downsizing the factory. The facility envisioned now would make smaller thin-film transistor liquid crystal display screens for cellphones and other devices, rather than the larger screens that were first proposed.
Foxconn spokeswoman Myranda Tanck had no immediate comment.
Allegiant mulls buying used Airbus planes
Allegiant Airlines is weighing purchases of used Airbus SE planes as soon as early 2021, bucking an unprecedented travel collapse that has gutted demand for jetliners.
The carrier has been “inundated” with calls from airlines and aircraft lessors seeking to sell planes at deep discounts as they contend with the coronavirus pandemic, said Allegiant chief financial officer Greg Anderson.
“It’s an opportunity for us to buy A320s used and to get those at lower fixed costs than in the past,” Anderson said in an interview Monday during Boyd Group’s International Aviation Forecast Summit.
Allegiant is known for buying used aircraft and currently has 24 Airbus SE A319 jets and 57 A320 planes.
British Airways has replaced chief executive Alex Cruz as part of a broad shake-up as the covid-19 pandemic pummels airlines around the world. International Airlines Group, British Airways’ parent company, on Monday named Sean Doyle, previously the boss of Aer Lingus, as BA’s new chief executive. Cruz will remain nonexecutive chairman during the transition. BA’s passenger traffic dropped 95 percent from a year earlier in the second quarter. Unions have criticized the way Cruz handled 12,000 job cuts linked to the pandemic.
HBE Corp. founder Fred Kummer and his wife, June, donated $300 million to Missouri University of Science and Technology, the largest gift in its history, to support a new school of innovation and entrepreneurship and also provide scholarships. Kummer, 91, is a 1955 civil engineering graduate of Missouri S&T, which was then known as the Missouri School of Mines and Metallurgy.
Twilio is buying customer data company Segment for about $3.2 billion in stock, after a boom in demand for online communications tools. Cloud-computing company Twilio has benefited during the pandemic as customers, such as retailers and health-care providers, have increasingly relied on online software to sell and communicate to customers. San Francisco start-up Segment helps companies manage the streams of data they collect about their customers from various platforms. It was valued at $1.5 billion in its last private funding round, with investors including Accel and Alphabet’s GV.
European Central Bank top officials amplified their call on governments to keep supporting euro-area economies as they recover from the coronavirus slump, warning against prematurely removing aid. Speaking on Monday, President Christine Lagarde said her biggest concern right now is that measures such as debt moratoria, state guarantees and furlough programs are phased out too abruptly.
8:30 a.m.: Labor Department releases consumer price index for September.
2 p.m.: Treasury releases federal budget for fiscal year 2020.
Earnings: Citigroup, Delta Air Lines, Johnson & Johnson, JPMorgan Chase.