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

Apple Reverses Remote Work Policy, Exec Goes To Alphabet

Apple Reverses Remote Work Policy, Exec Goes To Alphabet

Photo: justin sullivan (Getty Images) Well, this is awkward. One of Apple’s highest-profile return-to-office detractors reportedly landed a new gig at Alphabet’s DeepMind, marking the latest drama over Big Tech’s remote work scruffles. That move, ironically, comes right around the same time Apple decided to walk back its most recent return-to-office push In an internal … Read more

Biden dismisses the idea that his administration should have acted sooner on baby formula shortage

Biden dismisses the idea that his administration should have acted sooner on baby formula shortage

CNN — President Joe Biden on Friday defended the White House’s response to a months-long shortage of infant formula in the United States and dismissed the idea that his administration should have acted sooner, saying they “moved as quickly as a problem became apparent to us.” Following remarks in the White House Rose Garden, Biden … Read more

Disney Plus adds 8 million subscribers—but it’s still operating at a loss

Disney Plus adds 8 million subscribers—but it's still operating at a loss

Disney+Photo: NICK AGRO/AFP via Getty Images When Disney first launched its streaming service Disney+ back in November of 2019, it did so with a long-term mindset. Streaming was, presumably, the future, and so the company was willing to burn a lot of money to catch up with more established performers in the industry—most notably Netflix, … Read more

Nissan is Profitable for the First Time in Years

Nissan is Profitable for the First Time in Years

Photo: Nissan Nissan is making money again, Rivian is not, and GM. All of that and more in The Morning Shift for May 12, 2022. 1st Gear: Nissan Nissan has had a weird three years or so following the ouster of former CEO Carlos Ghosn under circumstances that can only be described as too bizarre … Read more

Google announces new smartphones, a watch and tablet at its I/O developer conference

Google announces new smartphones, a watch and tablet at its I/O developer conference

CNN Business — Google on Wednesday unveiled an expanded lineup of hardware products in the latest sign it remains committed to moving beyond its core advertising business and competing with the likes of Apple. At its first in-person developer conference in three years, Google announced three new smartphones and its first in-house smartwatch as well … Read more

Boeing clashes with key supplier ahead of Starliner spacecraft launch

Boeing clashes with key supplier ahead of Starliner spacecraft launch

CNN Business — Boeing Co. is feuding with Aerojet Rocketdyne, a key supplier for its Starliner spacecraft, as the US aerospace giant races to test launch the uncrewed astronaut capsule and mend its reputation in the space sector, people familiar with the matter said. The CST-100 Starliner is scheduled for a May 19 Florida launch … Read more

Coinbase stock plunges again after company reports dismal results

Coinbase stock plunges again after company reports dismal results

New York CNN Business — The bitcoin crash is hitting Coinbase really, really hard. The cryptocurrency brokerage reported a first-quarter loss late Tuesday and revenue that fell 27% from a year ago, missing Wall Street’s forecasts. Coinbase shares plummeted nearly 25% in early trading Wednesday morning and hit their lowest level ever. Coinbase stock is … Read more