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☆ Cannabis Rollout Hampered by Inexperienced Leadership, N.Y. Report Finds
▼ + stars: | 2024-05-10 | by ( Ashley Southall | ) www.nytimes.com time to read: +1 min

A startup-like culture at the state cannabis agency has contributed to “confusion, difficulty and delay” in the rollout of the state’s legal market, according to a report set to be released on Friday. Kathy Hochul in March after she declared the rollout a “disaster,” paints the clearest picture yet of a licensing process that has been criticized as clunky and opaque. It also outlines ways to clear roadblocks that have helped the illicit market steal the advantage the state had intended for small businesses and people who were harmed by the war on drugs. There are just 122 licensed recreational dispensaries open across the state, while officials say the number of illicit shops in New York City alone has nearly doubled to 2,900. At the end of April, nearly 4,900 applications for retail and craft businesses were still waiting to be reviewed, some from as far back as August 2022.

Persons: Kathy Hochul Organizations: Cannabis Management, Gov Locations: New York City

☆ Former JetBlue CEO Robin Hayes to lead Airbus in North America
▼ + stars: | 2024-04-22 | by ( Samantha Delouya | ) edition.cnn.com time to read: +1 min

CNN —Former JetBlue CEO Robin Hayes will join Airbus as the company’s North American leader. Airbus reported record annual jet orders in 2023, but in a statement Monday, Airbus CEO Guillaume Faury hinted at plans for further expansion in North America. The announcement of Hayes’ Airbus appointment comes just over two months after he left JetBlue, which has a fleet of Airbus planes. “It’s time I put more focus on my health and well-being.”In a statement Monday, Hayes said he was excited and energized to join Airbus after taking time off. As chairman and CEO of the North American business, Hayes will lead Airbus’ commercial aircraft business and oversee the company’s helicopters and space and defense business in the region.

Persons: Robin Hayes, Hayes, Jeff Knittel, Guillaume Faury, Robin, Faury, “, ” Hayes Organizations: CNN —, JetBlue, Airbus, Airbus Americas, Boeing, North Locations: North America

☆ How Bombardier is cashing in on business elite's love affair with private jet travel
▼ + stars: | 2024-04-12 | by ( Bob Woods | ) www.cnbc.com time to read: +5 min

They immediately established an ambitious, five-year strategic plan to reposition Bombardier, with a focus squarely on its sturdiest leg: the high-flying business jet and ancillary services industry. Deliveries of business and general aviation aircraft last year topped 4,000 for the first time in more than a decade, the General Aviation Manufacturers Association reported in February. Historically, the business jet market has been cyclical, said Noah Poponak, an analyst for Goldman Sachs, "but it's been hyper-cyclical in the past 20 years." Sales of all business jets were healthy leading into 2020 — and then the Covid pandemic hit. Everyone wanted a business jet and was willing to buy whatever was out there, new or used."

Persons: headwinds, Bombardier's, Alain Bellemare, divesting, Éric Martel, Bart Demosky, Demosky, Warren Buffett's Berkshire Hathaway, CFOs, Noah Poponak, Goldman Sachs, Walter Spracklin, Spracklin Organizations: Bombardier, Boeing, Airbus, General Aviation Manufacturers Association, Challenger, Global, Companies, Honeywell, RBC Capital Markets Locations: Montreal, Warren, Covid

☆ Boeing fined $51 million for violating Arms Export Control Act
▼ + stars: | 2024-03-01 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Boeing has agreed to pay $51 million for violating exports controls of military technology, including employees in China downloading sensitive data from numerous defense aircraft and missiles. The State Department found a total of 199 violations of the Arms Export Control Act by Boeing. It faces multiple investigations for a door plug blowing out on a 737 Max flight in January, leaving a gaping hole in the side of the Alaska Airlines flight. The NTSB has yet to determine blame or fault for the door plug incident on the Alaska Air flight. But Boeing CEO Dave Calhoun told investors in January, “We caused the problem, and we understand that.

Persons: ” “, ”, Boeing’s, Max, Dave Calhoun, “ Organizations: New, New York CNN, Boeing, State Department, Alaska Airlines, National Safety Transportation Board, Federal Aviation Administration, Justice Department, FAA, NTSB, Alaska Air Locations: New York, China, Australia, Canada, France, Germany, Hong Kong, India, Italy, Japan, Kenya, Morocco, Russia, Singapore, South Korea, Spain, Thailand, Taiwan, Ukraine, United Kingdom

☆ Project Sunrise: Aircraft delays push back launch date for Qantas’ record-breaking flights
▼ + stars: | 2024-02-22 | by ( Karla Cripps | ) edition.cnn.com time to read: +7 min

CNN —Travelers who were hoping to experience Qantas’ long-awaited, record-breaking ‘Project Sunrise’ flights next year will have to be a bit more patient. Project Sunrise: Australian airline Qantas is gearing up to launch its ultra long-haul "Project Sunrise" flights between Australia and New York City and London. Qantas Business Suites: For the first time, Qantas will add a sliding door to its business class seats for added privacy. The layout includes six first class seats in a 1-1-1 configuration, 52 business class seats in 1-2-1, 40 premium economy seats in 2-4-2 and 140 economy seats in 3-3-3. Business class suites will be 42 inches wide with 25-inch-wide chairs that can be reclined into a two-meter bed.

Persons: ” Christian Scherer, – Organizations: CNN — Travelers, Qantas, Airbus, Sydney, Reuters, CNN, Sunrise, Civil Aviation Safety Authority, Boeing, Australian, Qantas Qantas, Singapore Airlines ’, JFK Locations: Australia, New York, London, Singapore, Sydney, Melbourne, Perth, Sri Lanka, New York City, Singapore Airlines ’ Singapore, JFK

PARIS (AP) — Airbus plans to deliver more aircraft to customers in 2024 even as supply chain headaches continue to afflict the European airplane maker. The company reported healthy results for its commercial aircraft business Thursday in its latest annual earnings report, and signaled that there was more to come this year by setting a target of 800 commercial aircraft deliveries, 65 more than in 2023. But he said the company is focused on its order backlog with existing customers “that’s independent from what could happen outside." Openings for new airplane orders won't be available until the next decade, “so that would more impact the long term competitive positioning of the two companies rather than the short term,” Faury said. Airbus reported that adjusted earnings before interest and tax rose 4% to 5.8 billion euros ($6.2 billion) as revenue climbed 11%.

Persons: Guillaume Faury, jetliner, Faury, ” Faury Organizations: PARIS, Airbus, Boeing Locations: Toulouse, France

☆ Airbus targets 800 aircraft deliveries for 2024 even as supply chain issues linger
▼ + stars: | 2024-02-15 | by ( ) www.cnbc.com time to read: +2 min

An Airbus SE A380 airplane during a tour of a new maintenance hangar and control tower, at Chateauroux-Centre "Marcel Dassault" Airport in Chateauroux, France, on Friday, July 1, 2022. Airbus plans to deliver more aircraft to customers in 2024 even as supply chain headaches continue to afflict the European airplane maker. But he said the company is focused on its order backlog with existing customers "that's independent from what could happen outside." Openings for new airplane orders won't be available until the next decade, "so that would more impact the long term competitive positioning of the two companies rather than the short term," Faury said. Airbus reported that adjusted earnings before interest and tax rose 4% to 5.8 billion euros ($6.2 billion) as revenue climbed 11%.

Persons: Marcel Dassault, Guillaume Faury, jetliner, Faury Organizations: Airbus, Boeing Locations: Chateauroux, France, Toulouse

☆ A handful of space companies are running out of cash and time. Here are three at risk
▼ + stars: | 2024-01-27 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

A flurry of about a dozen space companies went public over the last few years. SidusSidus Space is a little-known space company that went the traditional IPO route in late 2021 and began trading on the Nasdaq at a near $200 million valuation. But it had less than $2 million in cash at the end of September, trading at a near $9 million valuation according to FactSet. Elsewhere in spaceA fourth space company in a potentially precarious spot is satellite imagery company Satellogic . Overall, investment in the space sector bounced back in 2023, with companies bringing in $12.5 billion in investment last year.

Persons: Here's, Momentus, there's, Sidus, Satellogic, hasn't Organizations: Astra, Astra Astra, Nasdaq, CNBC, Terran

SummaryCompanies Aims for aerospace margin of 15-17%Expects medium-term annual operating profit of 2.8 bln stgShares rise 6.5%LONDON, Nov 28 (Reuters) - Rolls-Royce (RR.L) aims to quadruple profit in the next five years by boosting the performance of its jet engines and bearing down on costs in boss Tufan Erginbilgic's masterplan for Britain's most prestigious engineering company. That would be driven by surge in profit margins at its civil aerospace business to 15-17% from 2.5% last year. Agency Partners analyst Nick Cunningham said the targets implied Rolls-Royce was willing to shed revenues in exchange for better profitability. "If so, that is a deeper culture change from Rolls-Royce’s traditional market share optimisation approach of past decades," he said. "We will capture market share every year, but in a profitable way," he said.

Persons: Tufan, Erginbilgic, Nadja Wohlleben, Royce, Nick Cunningham, Rolls, Paul Sandle, Barbara Lewis, Mark Potter Organizations: Royce, Airbus, Boeing, REUTERS, Agency Partners, Trent, Thomson Locations: widebodies, Royce Germany, Dahlewitz, Berlin, Germany

☆ Airbus nears decision on new planemaking leadership - sources
▼ + stars: | 2023-09-15 | by ( Tim Hepher | ) www.reuters.com time to read: +3 min

[1/2] An Airbus logo is pictured at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 19, 2023. Industry sources said a final decision on the shake-up was likely in coming weeks, capping weeks of speculation after Reuters reported the looming reorganisation in July. Airbus Helicopters CEO Bruno Even had earlier been cited as a possible candidate for the top planemaking role. But the focus of speculation has widened to Chief Commercial Officer Christian Scherer, a veteran of the Airbus planemaking business who has also had stints at the Defence division and in running turboprop joint-venture ATR, industry sources said. His appointment would herald broad continuity at the company's main planemaking business, which accounts for most of the company's revenue.

Persons: Benoit Tessier, Christian Scherer, Guillaume Faury, Bruno, Scherer, Tim Hepher, Louise Heavens Organizations: Airbus, Paris, REUTERS, Rights, Industry, Reuters, Airbus Helicopters, Defence, France, Jefferies, Bombardier, Pratt, Whitney, Airbus Defence & Space, Military Air Systems, FCAS, Thomson Locations: Le Bourget, Paris, France, Ukraine, Germany, United States

☆ Anchor Brewing, America's oldest craft brewery, just shut down. Here's what's next
▼ + stars: | 2023-07-31 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +5 min

New York CNN —Anchor Brewing, which has been America’s oldest craft brewer with 127 years in business, closed its taprooms for good on Sunday. There’s hope that could happen: Roughly two dozen different investors as well as a group of Anchor’s employees have “expressed interest in buying all or parts of Anchor Brewing,” company spokesman Sam Singer told CNN. Anchor got its start in 1896 in San Francisco, becoming the nation’s first-ever craft brewery. Under Sapporo’s ownership, production of Anchor’s beer declined every year except in 2021, according to the Brewers Association. Brewbound, a beer industry website, previously reported that Sapporo’s recent purchase of craft brewer Stone Brewing sparked concerns among Anchor’s employees of how their brewery fit into plans.

Persons: there’s, There’s, Sam Singer, Singer, Jeff Chiu, they’ve, Anchor, ” Singer, Anchor’s, Justin Sullivan, Fritz Maytag Organizations: New, New York CNN, Brewing, CNN, Anchor Brewing, Sapporo, Warehouse Union, ” Employees, Getty, North, Anchor, Maytag Corporation, Steam, Brewers Association . Brewbound, Stone, Craft, Craft Business Locations: New York, San Francisco, Sapporo USA, Sapporo, United States, North America, California

☆ Anchor Brewing in San Francisco to cease operations after 127 years
▼ + stars: | 2023-07-12 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Pour one out for Anchor Brewing: America’s oldest craft brewer is shutting down after 127 years in business. Another problem has been Sapporo, the Japanese beer company that bought the brand in 2017. “This was an extremely difficult decision that Anchor reached only after many months of careful evaluation,” said Anchor Brewing spokesperson Sam Singer. “This is a sad day in the history of craft brewing in America,” Harry Schuhmacher, Craft Business Daily’s publisher told CNN. He literally nurtured that brewery from insolvency in the 60s to becoming San Francisco’s hometown beer and symbolic of America’s craft beer resurgence.”

Persons: ”, VinePair, Sam Singer, Anchor, Fritz Maytag, ” Harry Schuhmacher, “, Fritz Organizations: New, New York CNN, Anchor Brewing, Craft, Employees, Anchor, ” Workers, ”, Maytag Corporation, Steam, Brewers Association . Brewbound, Stone, Craft Business, CNN Locations: New York, San Francisco, Sapporo, California, America

☆ Alibaba unveils Tongyi Qianwen, its AI-powered answer to ChatGPT
▼ + stars: | 2023-04-11 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Alibaba showed off its answer to the ChatGPT craze on Tuesday, demonstrating new software that it plans to eventually roll out across all its platforms. The Chinese tech giant unveiled Tongyi Qianwen, a large language model that will be embedded in its Tmall Genie smart speakers and workplace messaging platform DingTalk. Alibaba Group CEO Daniel Zhang speaking Tuesday as the Chinese tech giant showed off its answer to the ChatGPT craze, demonstrating new software it plans to integrate across its enterprise and consumer platforms. In draft guidelines issued Tuesday to solicit public feedback, the country’s cyberspace regulator said generative AI services would be required to undergo security reviews before they can operate. Most of those units, including its cloud services business that oversees AI projects, will be authorized to raise capital and pursue public listings.

☆ I'm a special education teacher who can make up to $1,000 a month making jewelry and crafts as a side hustle
▼ + stars: | 2022-12-03 | by ( Rasha Aly | ) www.businessinsider.com time to read: +5 min

It's a way for me to relax when I return home from my job as a special education teacher. My business, Teacher Mom Craft Shop, blossomed from there. Now, I display new items at the shop about once a month or every other month, alongside ten other artisans. My earrings usually range from $8 to $20. Right now, I'm working on a new line for young girls, which I'm naming in honor of my baby, Bonnie's Closet.

☆ Boeing reports quarterly loss on problems in Air Force One, tanker programs
▼ + stars: | 2022-10-26 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

A Boeing 737 MAX 10 airliner pauses while taxiing on the flight line before its first flight at Renton Municipal Airport on June 18, 2021 in Renton, Washington. Boeing reported a $3.3 billion quarterly loss Wednesday as problems in its defense unit countered strides in its commercial aircraft business. Revenue: $15.96 billion vs. $17.76 billion expected. Boeing reported losses of $2.8 billion in its defense unit on programs including the KC-46 tanker and Air Force One. Alaska Airlines on Wednesday said it would exercise options to buy 52 Boeing 737 Max planes to its fleet and rights for 105 more of them through 2030.

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