Boeing tries to catch up to SpaceX after plenty of drama

Boeing tries to catch up to SpaceX after plenty of drama

New York CNN Business — Boeing is the world’s largest aerospace company, a primary US defense contractor, and a titan of a global aviation duopoly. A few years ago, the idea that it would dominate commercial space was a given, and companies like SpaceX, a relatively young business relying on a strategy of moving fast … Read more

CNN anchor Chris Wallace’s new gig revealed after CNN+ collapse

CNN anchor Chris Wallace's new gig revealed after CNN+ collapse

CNN’s Chris Wallace has reportedly landed a new gig at the left-leaning network — weeks after the implosion of the company’s doomed streaming service CNN+ left the Fox News alum uncertain about his future. The veteran news anchor will host a primetime show as part of CNN’s Sunday night lineup beginning this fall, the network … Read more

EV battery costs set to spike as raw material shortages drags on

EV battery costs set to spike as raw material shortages drags on

Attendees look at the all-electric Ford F-150 Lightning pickup truck at the Washington Auto Show in Washington on Tuesday, January 25, 2022. Bill Clark | CQ-Roll Call, Inc. | Getty Images The cost to produce electric vehicles is primed to surge over the next four years, according to a new report, the result of scarcity … Read more

Target (TGT) Q1 2022 earnings

Target (TGT) Q1 2022 earnings

Target on Wednesday reported quarterly earnings that fell far short of Wall Street’s expectations, as the retailer coped with pricey freight costs, higher markdowns and lower-than-expected sales of discretionary items from TVs to bicycles. Shares fell about 22% in premarket trading. Here’s what Target reported for the fiscal first quarter ended April 30, compared with … Read more

House Democrats to hold hearings, introduce legislation

House Democrats to hold hearings, introduce legislation

House Democrats will hold hearings on the baby formula shortage in the US, and move to pass legislation to increase Food and Drug Administration inspection staff to ensure that imported products are safe for infants to consume. Rep. Rosa DeLauro, chair of the House Appropriations Committee, introduced legislation on Tuesday that would provide the FDA … Read more

Walmart (WMT) earnings Q1 2023

Walmart (WMT) earnings Q1 2023

Walmart on Tuesday reported quarterly earnings that missed Wall Street’s expectations by a wide margin, as the nation’s largest retailer felt pressure from rising fuel costs and higher levels of inventory. Shares were down about 7% in premarket trading. The company raised its outlook for sales this year, saying it expects net sales to increase … Read more

Elon Musk says Twitter deal ‘cannot move forward’ until he has clarity on bot numbers

Elon Musk says Twitter deal 'cannot move forward' until he has clarity on bot numbers

Musk’s plan to buy Twitter has worried policymakers around the world. Joe Skipper | Reuters Elon Musk has said his $44 billion purchase of Twitter will not move ahead until he has more clarity on how many accounts are fake. Twitter estimated in a filing earlier this month that fewer than 5% of its monetizable … Read more

Microsoft doubles budget for employee salaries to address inflation, retain talent

Microsoft doubles budget for employee salaries to address inflation, retain talent

Microsoft plans to boost salaries and benefits to retain its talent in the competitive labor market as decades-high inflation has sapped the buying power of American workers. The Seattle-based tech giant said Monday it would “nearly double” its budget for employee pay as part of its retention efforts. Microsoft is also increasing the range of … Read more

Intel shareholders reject executive pay

Intel shareholders reject executive pay

Patrick Gelsinger, chief executive officer of Intel Corp., speaks during a Bloomberg Studio 1.0 interview at the company’s headquarters in Santa Clara, California, Feb. 3, 2022. David Paul Morris | Bloomberg | Getty Images Intel shareholders voted last week against the company’s compensation for its top executives, according to an regulatory filing published on Monday. … Read more

Abbott agrees to consent decree with FDA, could restart plant within 2 weeks, pending court approval

Abbott agrees to consent decree with FDA, could restart plant within 2 weeks, pending court approval

CNN — The baby formula manufacturer at the heart of a nationwide formula recall said Monday that it has reached an agreement with the US Food and Drug Administration to enter into a consent decree, a legally binding agreement that would require the company to take certain steps in response to violations found at its … Read more