The U.S. Senate Commerce Committee has announced a hearing next week with members of an expert panel who released a report criticizing Boeing’s safety culture. This comes after a series of safety issues at the planemaker, including a mid-air panel blowout on a new 737 MAX 9. As a result, Boeing has seen a decline
Wall Street
John Slattery, the chief commercial officer of GE Aerospace, has announced his decision to step down from the company in June. Despite his resignation from the company, he will continue to serve as an adviser to the organization. Slattery, an Irish-born industry veteran, previously led the commercial arm of Brazil’s Embraer, one of the world’s
Investors in Hong Kong reacted positively to reports of Jack Ma endorsing the current leadership of e-commerce giant Alibaba Group. The company’s shares surged 5.4% to HK$74.25, reaching its highest level in nearly a month. This sharp increase in stock price also had a significant impact on the Hang Seng index, which rose by 2%
The global airline industry is currently facing a unique set of challenges as travel demand is expected to surpass pre-pandemic levels while aircraft deliveries drop sharply due to production problems at Boeing and Airbus. This has led to air carriers spending billions on repairs to keep older, less fuel-efficient jets flying, as well as paying
In a recent turn of events, Tesla has reached a settlement in a lawsuit concerning a tragic 2018 car crash that resulted in the death of an Apple engineer. The incident, involving a Tesla Model X operating on Autopilot, occurred near San Francisco and has been the subject of a lengthy legal battle. The terms
X Corp, previously known as Twitter, is currently facing legal challenges in Brazil. The company has been “forced by court decisions” to block certain popular accounts, resulting in potential consequences for its revenue and operations in the country. X owner Elon Musk has expressed his concerns about the situation, mentioning that the company may face
In a recent ruling that sparked heated debates, a federal appeals court in the U.S. found that a Texas judge made an incorrect decision by transferring an industry-backed lawsuit challenging an agency rule on credit card late fees to another court in Washington, D.C. This decision has brought to light the controversial practice of “judge
Samsung Electronics has estimated a substantial rise in its first-quarter operating profit, with a more than 10-fold increase from the previous year. The company reported a better-than-expected operating profit of 6.6 trillion won ($4.89 billion) for the quarter ended March 31, up 931% from 640 billion won a year earlier. This surge in operating profit
In a surprising turn of events, Paramount Global’s board members have decided to engage in exclusive merger discussions with Skydance Media. This move, favored over a $26 billion offer from Apollo Global Management, indicates a strategic shift in the company’s direction. The decision to move forward with Skydance is seen as a more viable option,
Following the release of data showing a slowdown in U.S. services industry growth in March, global stocks rebounded and bond yields retreated. This data suggested that inflation may be slowing but not enough for the Federal Reserve to consider interest rate cuts. Market expectations for rate cuts as early as June were challenged this week