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The order will yield nearly 10,000 jobs in the Saudi ports for maintenance workers, but only 500 new U.S. jobs will be created, according to documents seen by Reuters. Executives at the several of top U.S. defense companies say Riyadh had wanted much of the military equipment as a way to both develop new domestic industry and to create new jobs and local expertise as a part of Crown Prince Mohammed bin Salman’s Vision 2030 initiative to wean the country off oil dependency. Saudi Arabia has set a goal of creating 40,000 defense industry jobs by 2030.
The arms package Trump announced in May 2017 came under renewed best replica cufflinks scrutiny after the Oct, 2 killing of Washington Post columnist Jamal Khashoggi in the Saudi consulate in Istanbul, The killing provoked international outrage and both the administration and defense contractors have been working to prevent a backlash that could imperil what Trump has called a “tremendous order” and 500,000 jobs, Industry executives have argued that without the Saudi package coming through they would have fewer orders to fill, but robust U.S, defense budgets, which account for the majority of their sales, coupled with a record backlog of orders suggest little risk that workers would face layoffs if the Saudi sales package failed to materialize..
Certainly for each defense manufacturing job, other adjacent jobs are supported indirectly by higher demand for defense products. But Heidi Garrett-Peltier, a research fellow at the Political Economy Research Institute, estimated that for this type of industry the highest multiplier would be just below 3.2. Given that, 20,000 to 40,000 sustained or new jobs could generate between about 64,000 to 128,000 jobs in related industries, Reuters calculations show, bringing the total of sustained and new jobs to between 84,000 and 168,000.
(Reuters) - Under Armour Inc’s (UA.N) (UAA.N) shares surged 25 percent on Tuesday after the sportswear maker’s upbeat quarterly earnings and full-year profit forecast underscored the success of its multi-year plan to lower costs and best replica cufflinks reduce bloated inventory, The third-largest sportswear maker in the United States has closed stores, cut jobs and rolled back promotions to bolster profit margins as it tries to recover from a bruising fight for market share with bigger rivals Nike Inc (NKE.N) and Adidas AG (ADSGn.DE)..
The surge in shares reflect investors’ confidence in the company’s turnaround as well as its expansion in international markets to offset weakness in the United States, where it had fallen behind rivals in the past two years. The company said on Tuesday it had cut total merchandise by about 1 percent in the quarter, as it deals with excess inventory stemming from 2017 when it expected more demand. The bloated inventory forced the company to unload products to off-price retailers at lower prices, hitting margins in the past several quarters.
But cost cuts and fewer discounts helped boost margins in the third quarter, Gross margins rose for the first time in several quarters - up 20 basis points to 46.5 percent in quarter, beating the average best replica cufflinks analyst estimate of 45.8 percent, Cutting back on stocks of materials such as zippers and buttons by as much as 80 percent and shrinking its vendor base by a quarter also helped, Under Armour said it was in a better inventory position going into the holiday season, and would sell more of its products through its own channels at full price to help improve margins and the brand’s image..
“Under Armour continues to make progress on its multi-year restructuring, particularly with regards to inventory and cost reduction efforts,” Moody’s Apparel Analyst Mike Zuccaro said. “While some challenges still remain, the company is stabilizing and is better positioned for improvement in 2019.”. Though North America sales continued to struggle, the company showed strong growth in its international markets of Europe, Middle East and Africa and Latin America. International sales rose 15 percent, while they fell nearly 2 percent in North America.
WASHINGTON (Reuters) - U.S, consumer confidence rose to an 18-year high in October, driven largely by a robust labor market, bolstering expectations that strong economic growth would continue through best replica cufflinks early 2019, But a weakening housing market and tightening financial market conditions are casting a shadow on the economic expansion that is in its ninth year, the second longest on record, Home price gains slowed further in August, other data showed, another sign that higher mortgage rates were weighing on housing demand..