Boeing recently informed its employees about the challenges it is facing due to supplier shortages of key parts, which are expected to slow down the increase in production and deliveries of new 787 Dreamliner planes. This setback comes on the heels of Boeing already having to reduce deliveries and output of its 737 Max planes
Business
Disney Entertainment and ESPN are facing a significant change as Aaron LaBerge, the chief technology officer, is leaving the company to join PENN Entertainment. LaBerge, who has played a crucial role in developing Disney’s streaming services and integrating advertising into Disney+, will be taking on the role of CTO at ESPN Bet, the sports media
The U.S. Federal Trade Commission has taken legal action to prevent the $8.5 billion deal that would see Coach and Kate Spade’s parent company, Tapestry, acquire Capri Holdings. This move by regulators has effectively put a pause on the consolidation of these major players in the American luxury retail industry. The merger would bring together
Express, a longtime mall retailer, recently filed for Chapter 11 bankruptcy protection due to financial difficulties. The company, known for its business casual apparel, has struggled with declining sales and mounting debt. This has been exacerbated by costly mall leases that have put a strain on its balance sheet. Despite efforts to shore up its
GLP-1 drugs, including popular medications like Wegovy, Ozempic, Zepbound, and Mounjaro, have been shown to reduce the appetites of consumers. A recent survey conducted by Morgan Stanley revealed that individuals taking these drugs are spending less on eating out at restaurants and ordering takeout. This decrease in spending is expected to have a significant impact
The recent news that Volkswagen employees in Chattanooga, Tennessee have voted to join the United Auto Workers (UAW) has been met with great excitement by the labor organization. This victory not only marks a significant milestone for the UAW but also represents their first successful organizing drive of an automaker outside of Detroit’s Big Three.
The head of the Federal Aviation Administration recently announced an increase in the required amount of rest time for air traffic controllers. The decision comes in response to concerns over fatigue among controllers due to a staffing shortage. These changes will take effect within 90 days and will mandate that controllers have at least 10
Autonomous delivery drone startup Zipline recently celebrated its 1 millionth delivery to customers, marking a significant milestone in the company’s growth. Zipline, based in San Francisco, specializes in designing, building, and operating autonomous delivery drones for a wide range of clients, including hospitals, major brands like Walmart, and even CNBC Disruptor 50 companies. With over
Lululemon, a popular athletic apparel retailer, has made a strategic decision to close its distribution center in Sumner, Washington, resulting in the layoff of 128 employees. This move comes after the company opened a new, larger warehouse outside of Los Angeles, indicating a shift in its distribution strategy. The closure of the distribution center in
Netflix recently announced that it will no longer be providing quarterly membership numbers or average revenue per user starting next year. This decision marks a significant shift in how the company will report its financial metrics to investors. The move comes as Netflix reported earnings that exceeded expectations on both the top and bottom lines.