Author: Press Room
Boeing will cut 10% of its workforce, or about 17,000 people, as the company’s losses mount and a machinist strike that has idled its aircraft factories enters its fifth week. It will also delay the launch of its new wide-body airplane.The manufacturer will not deliver its still-uncertified 777X wide-body plane until 2026, putting it some six years behind schedule, and will stop making commercial 767 freighters in 2027 after it fulfills remaining orders, CEO Kelly Ortberg said in a staff memo Friday afternoon.Boeing expects to report a loss of $9.97 a share in the third quarter, the company said in…
Boeing and the families of the victims of two fatal 737 Max crashes more than five years ago will have to wait to see what punishment the company will face for its misdeeds that preceded the crashes. A federal judge on Friday pressed US Justice Department officials to justify the terms of Boeing’s agreement to plead guilty to fraud in the wake of two fatal 737 Max crashes but stopped short of ruling on whether to accept the deal. Attorneys for Boeing and federal prosecutors argued to US District Judge Reed O’Connor in Fort Worth, Texas, that he should accept the plea deal, while lawyers for relatives of…
This article was written byFollowMy analysis is focused on high-quality companies, that can outperform the market over the long-run due to a competitive advantage (economic moat) and high levels of defensibility. Focused on European and North American companies, but without constraints regarding market capitalization (from large cap to small cap companies).My academic background is in sociology and I hold a Master’s Degree in Sociology (with main emphasis on organizational and economic sociology) and a Bachelor’s Degree in Sociology and History.Analyst’s Disclosure: I/we have a beneficial long position in the shares of BABA, JD, SBUX, TCEHY either through stock ownership, options,…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Rescue operations were under way in Florida on Thursday as officials sought to assess the damage inflicted by Hurricane Milton as it crossed the state overnight, triggering widespread flooding and leaving millions without power.Florida governor Ron DeSantis on Thursday afternoon said state search and rescue teams had rescued at least 340 people from torrential floodwater and destroyed buildings. Ten people had been killed, said homeland security secretary Alejandro Mayorkas.The Tampa Bay area was spared the catastrophic storm surge that had been feared,…
Former President Donald Trump on Thursday warned that the country would end up “like Detroit” if Vice President Kamala Harris is elected, his latest jab at an urban center in a swing state that he hopes to win next month. In remarks laying out his vision for the auto industry at the Detroit Economic Club, Trump said, “Our whole country will end up being like Detroit if (Harris is) your president. You’re going to have a mess on your hands.” He claimed Harris “destroyed” San Francisco, and later added, “We’re not going to let her do that to this country.…
The Medicare Prescription Payment Plan, also known as MPPP, MP3 or M3P, is a brand-new program that will take effect on January 1, 2025, the same day as the $2,000 cap on Part D out-of-pocket drug costs. The MPPP is like an installment payment plan for those who have Part D prescription drug coverage. They’ll be able to spread the costs out over the year, instead of paying all at once. Here are a few quick facts about the MPPP. Anyone who has Part D drug coverage, such as in a stand-alone plan or a Medicare Advantage plan, is eligible…
The Consumer Price Index (CPI), the main measure of inflation, increased 0.2% in September, a similar increase consumers saw in August and July, the Bureau of Labor Statistics reported. Over the last 12 months, the index increased 2.4%, the lowest yearly increase since February 2021. A rise in food and shelter costs made up 75% of the total increase in September. The shelter index rose by 0.2% in September while the food index increased by 0.4%.Rising auto insurance premiums, medical care costs and airline fares also all drove the increase in CPI. Balancing out these increases are the recreation and…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Stocks are slightly lower Thursday, but not far from the S & P 500 ‘s record close set Wednesday. Oil spiked a few dollars per barrel and the China stock market rally resumed overnight. Both have been headwinds to S & P 500 gains. The slightly warmer-than-expected September inflation data isn’t causing a lot of volatility, though, as the market seems more focused on the downward trend with an eye…
The best employees Mark Cuban has hired aren’t the ones with unwavering confidence or sharp business acumen.A different trait sets high achievers apart, according to the billionaire entrepreneur and investor: They’re problem-solvers. “For me, the number one thing is you reduce stress rather than create it,” Cuban, 66, told CNBC Make It at an event announcing his AI partnership with Google. “There’s a lot of people that are just a whirlwind and everything seems to be difficult, causing a lot of unnecessary stress.”As an employee, Cuban explained, the best soft skill you can develop is the ability to “analyze a situation,…
Univision will not fact check Vice President Kamala Harris or former President Donald Trump on stage during their respective town halls, the Spanish language network confirmed to CNN. The two town halls, on October 10 and October 16, will be moderated by Enrique Acevedo, the Mexico-based anchor of parent company Televisa’s flagship nightly newscast “En Punto.” Acevedo, who was criticized by many last year for what was considered by critics to be a “soft” interview with Trump, has become the marquee face of the Mexican broadcaster, which merged with Univision two years ago. “He will be a guardian of time, keep the…
