Boeing is freezing hiring and is weighing temporary furloughs in the coming weeks to manage costs as a strike by more than 30,000 Boeing workers who build planes in factories on the West Coast of the United States stretched into its fourth day on Monday. The strike would also impact…
Boeing’s management will likely need to access new sources of liquidity in the event of a prolonged strike. Fitch Ratings and Moody’s have joined S&P Global Ratings in warning that a prolonged strike at Boeing’s factories on the United States West Coast may lead to a ratings downgrade, a headache…
Boeing’s United States West Coast factory workers stood in long lines to vote on Thursday on a much-criticised new contract, some loudly calling for a strike, piling pressure on the planemaker as it wrestles with chronic production delays and mounting debt. A potential strike could start on Friday, which would…
Investors are scrambling to shift their positioning following the closely-watched debate between US Republican Donald Trump and Democratic Vice President Kamala Harris, as betting markets swung in Harris’s favour after the event. Shares of Trump Media & Technology Group, the company that owns Truth Social, fell 13 percent on Wednesday…
European Commission directed Apple to pay billions in back taxes, an order upheld by the EU’s top court. European Union antitrust chief Margrethe Vestager has scored two major wins as Europe’s top court has backed her crackdown against Apple’s Irish tax deal and Google’s anticompetitive practices in two landmark cases….
One month after a judge declared Google’s search engine an illegal monopoly, the tech giant faces another antitrust lawsuit that threatens to break up the company, this time over its advertising technology. Both the United States Department of Justice (DOJ), joined by a coalition of states, and Google made opening…
Apple has unveiled its artificial intelligence-boosted iPhone 16, showing off the long-awaited phone hours after Chinese rival Huawei’s tri-fold phone began racking up orders. “The next generation of iPhone has been designed for Apple Intelligence from the ground up. It marks the beginning of an exciting new era,” Chief Executive…
Harris’s proposal for a lower tax rate than the one laid out by Biden suggests she wants to appeal to a broader base of voters. Democratic presidential candidate Kamala Harris has proposed raising the capital gains tax rate for those earning $1m or more to 28 percent, instead of the…
Wednesday marked the third consecutive cut, with the central bank citing continued easing in broad inflationary pressures. The Bank of Canada (BoC) has trimmed its key policy rate by 25 basis points to 4.25 percent as forecast and Governor Tiff Macklem, citing weak growth, said a larger cut could be…
Ottawa to work with allies to ensure customers around the world are not unfairly penalised by nonmarket practices of countries such as China, PM Trudeau says. Canada, following the lead of the United States, says it will impose a 100 percent tariff on Chinese electric vehicle (EV) imports and also…
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