1. Paris Air Show: All eyes are on Boeing as the Paris Air Show kicks off Monday.
Careem was founded in 2012 and has since attracted 30 million users across 90 cities in the Middle East, North Africa and Pakistan. It was valued at more than $2 billion in a funding round in October.
Based in Dubai, Careem will operate under its own brand as a subsidiary of Uber and continue to be led by CEO Mudassir Sheikha. In an email to Uber staff members seen by CNN Business, CEO Dara Khosrowshahi said keeping the Careem brand and operations “has the advantage of letting us build new products and try new ideas across not one, but two, strong brands.”
Uber is gearing up for an initial public offering that’s expected to take place later this year. It’s reportedly seeking a valuation of as much as $120 billion.
The announcement was yet another blow to Airbus’ biggest rival Boeing (BA), which is struggling with a major crisis. Its bestselling jetliner, the 737 Max, has been idled worldwide after being involved in two deadly crashes.
The Chinese order covers 290 planes from Airbus’ A320 family and 10 from the A350 line, the company said in a statement.
Based on Airbus’ list prices, the planes are worth roughly $35 billion altogether, but customers typically receive significant discounts from the list prices and can get bigger reductions for huge orders.
Shares in Airbus gained more than 1.5% in early European trading.
3. What next for Brexit?: The pound was volatile Tuesday following yet another twist in the Brexit saga.
UK lawmakers have voted to temporarily seize control of the process from Prime Minister Theresa May, clearing the way for a series of votes on alternatives to May’s Brexit divorce agreement.
The basic options remain the same: leave the European Union with a negotiated deal, crash out of the bloc or seek another delay to the process.
Both the UK government and the Bank of England have warned of dire economic consequences if Britain leaves the European Union without a deal that protects trade.
4. Housing data: A series of reports on US real estate are expected Tuesday, giving investors another glimpse at the health of the US economy.
Building permits and housing starts data will be released at 8:30 a.m. ET, with Federal Housing Finance Agency Housing Price Index and the S&P/Case-Shiller US home prices index set to be published at 9 a.m. ET.
US consumer confidence data will follow at 10 a.m. ET.
The show is typically an opportunity for Boeing (BA) and Airbus (EADSF) to announce orders for hundreds of aircraft. That will be harder this year for the US jetmaker, which has halted deliveries of its 737 Max following two deadly crashes.
3. Markets rise: Global stocks are starting off the week on a positive note.
7. Earnings bonanza: 3M (MMM), Bristol-Myers (BMY), Comcast (CMCSA), Hershey Foods (HSY), Hess (HES), Raytheon (RTN), Southwest Air (LUV), UPS (UPS) and Xerox (XRX) will release earnings before the open.
A survey from GfK, Germany’s largest market research institute, showed that consumer confidence is set to dip in April. Economists polled by Reuters had expected a small increase.
The US Bureau of Economic Analysis will release its core personal consumption report for December at 8:30 a.m. ET. The Institute of Supply Management will release manufacturing data at 10:00 a.m. ET.
Google (GOOGL) and other tech giants have been lobbying against the law. Content publishers like record labels are among its supporters.
4. Coming this week:
Monday: Paris Air Show, US Treasury foreign ownership report
Tuesday: Adobe earnings, US housing starts, US Senate hearing on tariffs
Wednesday: Fed decision and press conference, earnings from Oracle (ORCL) and Barnes & Noble (BKS)
Thursday: US leading indicators, Bank of England rate decision, earnings from Kroger (KR) and Red Hat (RHT)
Friday: US existing home sales, Markit flash US manufacturing PMI