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Boeing Names Robert Ortberg As New CEO Following Plea Deal and $1.4 Billion Loss

Boeing Names Robert Ortberg As New CEO Following Plea Deal and $1.4 Billion Loss

Aerospace industry veteran, Robert "Kelly" Orberg is Boeing's new CEO, effective August 8, 2024, replacing David Calhoun after a $1.4 billion loss in the second quarter and ongoing regulatory issues.


TikTok HQ in Singapore Reports Food Poisoning Incident After 60 Staff Fell Ill

Dozens of ByteDance employees in Singapore were hospitalized for severe food poisoning, prompting an investigation by health officials into the third-party catering service used by the company.

Citi Bank Breaches Fed Rule and Admits to Errors in Financial Reporting

Citigroup has repeatedly violated Regulation W, a U.S. Federal Reserve rule meant to limit risky intercompany transactions, leading to errors in its liquidity reporting.

Orange Juice in US Gets Expensive As Citrus Greening Disease Devastates Orange Crops

Orange juice prices in the U.S. have surged to record highs due to a drop in orange production in Florida, mainly caused by extreme weather and an incurable citrus greening disease.


Latest News

Intel Announces Massive Job Cuts, Cites Cost-Cutting Measures
Intel announced that it was making thousands of jobs redundant in order to reduce costs and to be able to afford an ambitious effort to rebound from an earnings slump and recent weak market share performances.
iDeare Inc. Remodels the Design Process with Cutting-Edge Proprietary Technology
The founders of iDeare Inc., Andrea Dattilo (CEO) and Jeff Esposito (COO), knew there had to be a better way for homeowners and designers to complete remodeling projects.
Starbucks, Coca-Cola Seek Trademark Renewal in Russia
The coffee giant's global sales dropped by 3% at all stores open for at least a year. Starbucks' sales tumbled globally as more US and international consumers rejected its high-priced coffees.
Tesla Increases Model 3 Prices in Europe Over China EV Tariffs
The Tesla analyst noted that he had to intervene on several occasions to avoid a crash during the test drive.
Social Security Falls Short for Gig Workers' Retirement Needs—What's the Solution?
The date a retiree receives their Social Security payments changes depending on their birthday and when they started receiving their benefits.
PayPal Outperforms Expectations with 9% Revenue Increase, Thanks to 'Branded Checkout'
PayPal raised its 2024 profit forecast for the second time this year due to strong performance in its branded checkout business, resulting in a 9% rise in shares, despite increased competition from tech giants.
China to Develop Home-Grown AI Solutions Using Supercomputers to Counter US Sanctions
China is turning to supercomputing to boost its AI capabilities in response to U.S. sanctions on advanced semiconductors and GPUs, which are crucial for developing large language models (LLMs).
Procter & Gamble's Stock Drops as Revenue Misses Expectations
Procter & Gamble's earnings beat expectations, but its revenue fell short, leading to a 4.6% drop in stock price despite a historical 1% increase in volume.
US Farmers Struggle with Extreme Heat; Higher Fruit and Vegetable Prices Expected
Record-breaking heat waves are expected to increase U.S. produce prices as extreme temperatures reduce crop yields. Farmers face higher growing costs and potential long-term impacts on key crops like corn and strawberries.
Air New Zealand Withdraws 2030 Emissions Initiative Due to Fuel Costs and Delays
Air New Zealand has dropped its 2030 climate goal due to challenges with fuel-efficient aircraft delivery and alternative fuel costs, making it the first major airline to revise near-term environmental targets.