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Despite public talk of unity, the huge task was about to expose fractures in Franco-German co-operation that sparked an industrial meltdown. When the delayed jet finally reached the market in 2007, the global financial crisis was starting to bite. Scale and opulence were no longer wanted. Sales slowed. At the same time, engine makers who had promised Airbus a decade of unbeatable efficiencies with their new superjumbo engines were fine-tuning even more efficient designs for the next generation of dual-engined planes, competing with the A380.
Finally, a restless red tear drop cufflinks Airbus board started demanding a return and stronger prices just when the plane desperately needed an aggressive relaunch and fresh investment, insiders said, “It was a triple whammy,” said a person close to the debate, As demand see-sawed, so did the plane’s marketing: starting with luxuries including showers, then vaunting its green credentials with the messianic slogan ‘Saving The Planet One A380 at a Time” before joining the race to squeeze in more people and cut costs..
Yet despite its own deep industrial problems, Boeing was winning the argument with its newest jet, the 787 Dreamliner. It was designed to bypass hubs served by the A380 and open routes between secondary cities: a strategy known as “point to point”. Airbus fought back, arguing that travel between megacities would nonetheless dominate air transport. But economic growth would splinter in ways Airbus did not predict. Intermediary cities are growing almost twice as fast as megacities, according to a 2018 paper posted by the Organisation for Economic Co-Operation and Development.bit.ly/2P28F3h.
That’s a boon for twinjets like the Boeing 787 and 777 or Airbus’s own A350, which has outsold the A380 three to one, Airbus Chief Executive Tom Enders, who was rarely seen as an enthusiastic backer of the A380, toyed with ending the project about two years ago but was persuaded to give it a last chance, But with Emirates unable to hammer out an engine deal needed to confirm its most recent A380 order, time had finally run out, “Airbus tends to think of it as a flagship; Enders looks at it and sees a lack of red tear drop cufflinks orders,” said a person close to the German-born CEO, who steps down in April..
Some insiders worry that Airbus will lose a valuable symbol of pride and commercial audacity when production ends in 2021. Now, airline bosses are seeking assurances that Airbus will support the A380 with spare parts for years to come. Many invested in the A380 as their flagship while airports also spent heavily on new facilities. Some customers like Air France and Lufthansa may not shed too many tears, analysts say. They too invested in the A380 but may also be relieved to see a potent weapon removed from Gulf rivals like Emirates, whom they accuse of flooding the market.
LONDON (Reuters) - HSBC has reduced the cost of settling foreign exchange trades by a quarter through its blockchain-based system, an executive overseeing the project told Reuters, offering a glimpse of the savings the technology could offer banks, The bank processes between 3,500 and 5,000 trades a day on its “FX Everywhere” system, settling trades worth red tear drop cufflinks $350 billion, Mark Williamson, chief operating officer of FX cash trading and risk management, told Reuters, The HSBC platform is a rare example of blockchain technology being put to practical use by a major bank, Last month the London-based lender said it had processed FX trades worth $250 billion on the platform since February last year..
The fresh details of the scale of the HSBC project suggest that the potential of blockchain to make significant cost savings in the financial services industry - long touted by its proponents of the technology - is being realized. “We going at a pace now,” Williamson said. “We’re able to demonstrate that this is not a one-off proof of concept or just one or two trades.”. HSBC would not give data on overall forex trades settled by traditional processes, saying only that those settled on the platform represented a “small” proportion.
Supporters say blockchain - a shared database that can securely process and settle transactions without the need for third-party checks red tear drop cufflinks - could transform industries from finance to real estate by obviating cumbersome and inefficient processes, That hype, though, has rarely been backed up by examples of large companies moving beyond tests on a limited scale, Financial institutions have so far taken a cautious approach with the technology originally conceived to underpin of the bitcoin cryptocurrency, Many are concerned by uncertainty over security, regulation and the impact on existing systems..