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☆ Boeing freezes hiring in sweeping cost cuts as it grapples with factory worker strike
▼ + stars: | 2024-09-16 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +2 min

Boeing announced sweeping cost cuts on Monday, including a hiring freeze, a pause on nonessential staff travel and a reduction on supplier spending to preserve cash as it deals with a strike of more than 30,000 factory workers. Boeing factory workers, mostly in the Seattle area, started walking off the job early Friday after overwhelmingly rejecting a tentative labor deal, halting most of Boeing’s aircraft production. It was the first clear sign of how the strike will affect the hundreds of suppliers that rely on Boeing work. The financial impact of the strike will depend on how long it lasts, but Boeing is focused on conserving cash, West said at a Morgan Stanley conference Friday. On Friday, Moody’s put all of Boeing’s credit ratings on review for a downgrade and Fitch Ratings said a prolonged strike could put Boeing at risk of a downgrade.

Persons: Brian West, ” West, West, Morgan Stanley, Kelly Ortberg, Moody’s Organizations: Boeing, Morgan, Fitch Locations: Seattle

☆ Boeing's leaders are fighting for the viability of the company, says Eric Dezenhall
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoeing's leaders are fighting for the viability of the company, says Eric DezenhallEric Dezenhall, Dezenhall Resources chairman, joins 'Squawk Box' to discuss Boeing's contract negotiations with union leaders, what's at stake for the company, the challenges facing Boeing's new CEO, and more.

Persons: Eric Dezenhall Eric Dezenhall, what's Organizations: Dezenhall

☆ Here are the stocks that win when the Fed cuts rates with no recession
▼ + stars: | 2024-09-16 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Fed funds futures have fully priced in that the central bank will lower interest rates, according to CME's FedWatch tool . Many now expect the Fed will achieve the coveted "soft landing" outcome, which means inflation is curbed without tipping the economy into a recession. Rate cuts without a recession has historically been a positive mixture for stocks. Given this backdrop, CNBC Pro screened for names that have performed nicely in past periods where the Fed pulled rates lower without the U.S. economy tipping into a recession. To find these companies, CNBC Pro searched the S & P 500 for members with the highest median gain one year after the Fed has cut rates without an official recession.

Persons: Genuity, LSEG, Paul Lejuez, WMT Organizations: Reserve, CNBC Pro, Nike, Dow Jones Industrial, Intel, Boeing, Walmart, Dow, Citi, Wall Locations: U.S, Rochester , New York

☆ Workers' strike is serious, but resolvable. Boeing's challenge is long term: Analyst
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWorkers' strike is serious, but resolvable. Boeing's challenge is long term: AnalystBrian Langenberg from Langenberg & Co says Boeing's CEO has to 'pay more than he wants to' for the workers' strike to resolve.

Persons: Brian Langenberg Organizations: Email Workers Locations: Langenberg

☆ Boeing freezes hiring and executives’ first-class travel as massive strike continues
▼ + stars: | 2024-09-16 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +2 min

CNN —With a massive ongoing strike, Boeing is making some temporary cutbacks that could hit non-union staff hard. Boeing Chief Financial Officer Brian West on Monday announced the company is instituting a freeze on hiring and non-essential travel, and it will consider furloughs for employees, managers, and executives. The company is temporarily restricting first-class and business travel, including for Boeing executives – although the company didn’t comment on whether top brass will still be able to use private corporate jets. West’s memo was a direct response to the ongoing strike with the International Association of Machinists and Aerospace Workers union. The company will also reduce charitable contributions, stop catering at Boeing facilities, and pause participation in trade shows and events.

Persons: Brian West, ” West, West, ”, Fitch, Moody’s Organizations: CNN, Boeing, Monday, International Association of Machinists, Aerospace Workers

☆ Titan submersible implosion: US Coast Guard hearings begin
▼ + stars: | 2024-09-16 | by ( Dakin Andone | ) edition.cnn.com time to read: +4 min

CNN —The US Coast Guard on Monday will begin a multi-day hearing to examine the loss of the Titan – the ill-fated submersible authorities said imploded in the North Atlantic Ocean in June 2023, killing all five people aboard during a dive to the wreckage of the Titanic. The public hearing will be conducted by the Marine Board of Investigation that was convened within days of the submersible’s disappearance. The MBI – the highest level of inquiry by the Coast Guard – was tasked with reviewing the cause of the tragedy and offering recommendations, including about potential civil penalties and criminal prosecution. The MBI is made up of numerous Coast Guard officials and at least two from the National Transportation Safety Board, according to a list provided by the Coast Guard. When the investigation is complete, the US Coast Guard and the National Transportation Safety Board will each conduct an independent analysis and complete reports, Neubauer said Sunday.

Persons: Coast Guard –, ” Jason Neubauer, “, ”, Neubauer, Shahzada Dawood, Suleman Dawood, Hamish Harding, Paul, Henri Nargeolet, ” Neubauer Organizations: CNN, US Coast Guard, Marine Board of, MBI, Coast Guard, Stockton Rush, OceanGate Expeditions, OceanGate, National Transportation Safety, NASA, Boeing, Department of Justice, Marine Board, Investigation, National Transportation Locations: Newfoundland, Canada, Everett, Washington, North Charleston , South Carolina

☆ Olin: Difficulties ramping up production and new labor agreements will impact cash flow
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOlin: Difficulties ramping up production and new labor agreements will impact cash flowChris Olin, Senior Aerospace Analyst at Northcoast Research, sets Boeing's price target at $135, citing liquidity issues, production ramp-up challenges, and potential equity issuance.

Persons: Chris Olin Organizations: Olin, Senior Aerospace, Northcoast Research

☆ FTAI is helped by supply-demand imbalance post pandemic, says Jefferies' Sheila Kahyaoglu
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFTAI is helped by supply-demand imbalance post pandemic, says Jefferies' Sheila KahyaogluSheila Kahyaoglu, Jefferies, joins 'Fast Money' to discuss her buy rating on Boeing, her take on FTAI, and more.

Persons: Jefferies, Sheila Kahyaoglu Sheila Kahyaoglu Organizations: Boeing

☆ The strike could cost Boeing more than $1 billion. But that could be the least of its problems
▼ + stars: | 2024-09-16 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

How long the strike lasts will determine how serious the problems are for Boeing. Boeing has a long way back to profitability, no matter how long the strike lasts. So as bad as the strike might be for Boeing, it has plenty of other problems to deal with. So even with financial problems that might kill another company, Boeing isn’t going anywhere. The strike could last a whileNegotiations between Boeing, the union and federal mediators are expected to resume early this week.

Persons: Brian West, Boeing’s, Fitch, Moody’s, Poor’s, Richard Aboulafia, ” Aboulafia, ” Jim Bloomer, Max, “, you’ve, ” Organizations: New, New York CNN, Boeing, Federal Aviation Administration, Airbus, CNN Locations: New York, Washington, Renton , Washington

☆ The Airbus A321XLR could be a game changer for budget airlines. See how Wizz Air's cheap 7-hour flight would compare with British Airways.
▼ + stars: | 2024-09-15 | by ( Pete Syme | ) www.businessinsider.com time to read: +1 min

Wizz Air announced its first route for the Airbus A321XLR from London to Jeddah. Go to newsletter preferences Thanks for signing up! AdvertisementEuropean ultra-low-cost carrier Wizz Air announced Tuesday its first route for the Airbus A321XLR. The A321XLR could be a game changer for budget airlines because it can fly up to two hours further. By opening longer routes with the XLR, budget airlines could compete with legacy carriers operating widebody jets.

Persons: — Organizations: Wizz Air, Airbus, British Airways, Boeing, Service, Business Locations: London, Jeddah

☆ Air Canada reaches last-minute agreement with pilots union, averting strike
▼ + stars: | 2024-09-15 | by ( ) www.cnbc.com time to read: +1 min

An Air Canada Boeing 777-333(ER) is preparing to take off on the runway at Barcelona-El Prat Airport in Barcelona, Spain, on May 1, 2024. Air Canada said early on Sunday it had reached a tentative agreement with its pilots union over a new four-year collective agreement, in a last-minute deal that will avert a near-term strike or lockout. Air Canada and Air Canada Rouge, which operate nearly 670 flights per day carrying about 110,000 passengers as well as freight, will now continue flying as normal, the airline said. Air Canada said in a statement the terms of its new agreement with the Air Line Pilots Association (ALPA) representing more than 5,200 pilots will remain confidential, pending a ratification vote by its members expected to be completed over the next month. The ALPA said in a separate statement that its leaders had approved the tentative agreement with Air Canada for member ratification.

Persons: ALPA, Steve MacKinnon Organizations: Air Canada Boeing, El, Air Canada, Air Canada Rouge, Air Line Pilots Association, United Airlines, Labour Locations: Barcelona, Spain, Canada's, U.S, United

☆ Here are the top tech startups disrupting the defense industry — and what they're selling
▼ + stars: | 2024-09-15 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +1 min

Rapid advancements in AI and military tech are reshaping global national security. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! A new cadre of tech startups is muscling its way into the entrenched defense industry, leveraging rapid advancements in AI and other military technologies to bring warfare into the future and win lucrative military contracts. But tech advancements in the last 20 years, coupled with plenty of investment money to go around, have allowed new players to emerge, threatening the grip the classic defense behemoths once had on the industry.

Persons: —, Lockheed Martin, Northrop, behemoths Organizations: Service, Lockheed, Northrop Grumman, Raytheon, Boeing, Business

☆ 4 Alaska Airlines flight attendants were taken to hospital after reporting an 'unidentifiable odor' that caused plane to divert
▼ + stars: | 2024-09-15 | by ( Rebecca Rommen | Nathan Rennolds | ) www.businessinsider.com time to read: +1 min

An Alaska Airlines flight diverted to Honolulu after four flight attendants felt unwell. The crew reported an "unidentifiable odor" in the cabin shortly after takeoff from Lihue, Hawaii. It's not the first time such an incident has occurred on an Alaska Airlines flight. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAn Alaska Airlines flight from Hawaii to Seattle was forced to turn back after four flight attendants felt unwell and reported an "unidentifiable odor" in the cabin.

Persons: It's, —, AS810 Organizations: Alaska Airlines, Service, Boeing, Business Locations: Honolulu, Lihue, Hawaii, Seattle, Kauai

☆ Ryanair may get five fewer planes by next summer due to Boeing strike, CEO says
▼ + stars: | 2024-09-14 | by ( ) www.cnbc.com time to read: +1 min

Ryanair Group CEO Michael O'Leary said on Saturday a prolonged Boeing workers' strike may cut the number of aircraft it receives by next summer to 20 from an anticipated 25. But now, with this week's Boeing's workers' strike further threatening the airplane maker's turnaround, O'Leary said Ryanair might only receive 20 planes if the strike continues for three to four weeks. "I have no doubt that Boeing will fix this strike," O'Leary told Ireland's Newstalk Radio. Workers have been protesting all week in Boeing factories in the Seattle area that assemble Boeing's MAX, 777 and 767 jets. Boeing and union negotiators will return to the bargaining table early next week as the two sides try to end a strike.

Persons: OAG's John Grant, Michael O'Leary, O'Leary, Ireland's Organizations: Summer, Ryanair, Boeing, Ireland's Newstalk, Workers Locations: Paris, Seattle

☆ What this Boeing strike is really all about
▼ + stars: | 2024-09-14 | by ( Allison Morrow | Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —At the heart of the Boeing strike that began Friday is a story about what happens when penny-pinching executives lose the plot and it falls to workers to get everyone back on track. If Boeing were any other business — and not a too-big-fail half of a global duopoly — it almost certainly would have declared bankruptcy. Years of pent-up resentment over Boeing’s mismanagement, combined with pandemic-era inflation and a resurgent labor movement, made this strike inevitable. Ahead of the strike, Ortberg urged workers not to strike while acknowledging their anger over nearly two decades of past contracts that downsized their retirement and health care benefits. Almost exactly one year ago, the United Auto Workers union won historic guarantees from the Big Three automakers after a seven-week strike.

Persons: —, ”, Richard Aboulafia, James McNerney, Aboulafia, Kelly Ortberg, missteps, Ortberg, Jon Holden, “, — who’ve, Dave Calhoun’s, Holden, haven’t, ” Holden, Sharon Block Organizations: New, New York CNN, Boeing, SpaceX, International Association of Machinists, United Auto Workers, Big, UAW, hardball, Harvard Law School’s Center for Labor Locations: New York, January’s, Renton , Washington, Seattle, Virginia, South Carolina, Washington, United States

☆ Cave fossils shed light on the disappearance of Neanderthals
▼ + stars: | 2024-09-14 | by ( Ashley Strickland | ) edition.cnn.com time to read: +7 min

But other chapters, like those describing the loss of our ancient ancestors, are harder to recover as time passes. A chance finding of bones in a cave is revealing clues of a much older tragic mystery. The once-in-a-lifetime find, nicknamed Thorin after a character in “The Hobbit,” has puzzled researchers for nearly a decade. The overall winner of the competition was photographer Ryan Imperio for his photo taken during the October 2023 annular solar eclipse. The phenomenon is visible for brief moments during an eclipse when sunlight shines through the moon’s valleys and craters, creating glowing drops of light.

Persons: Duke, Wellington, Gebhard Leberecht von Blücher, Napoleon Bonaparte, Thorin, Ludovic, ”, Yuha Hasegawa, Ryan Imperio, Imperio, Zhu Yubo, Rapa Nui, Christopher Columbus, Butch Wilmore, Suni Williams, Ashley Strickland, Katie Hunt Organizations: CNN, Japan’s Nagasaki University, “, International, Astronomy, Polaris, —, NASA, CNN Space, Science Locations: Brussels, Grotte Mandrin, Rhône, New Zealand, El, Rapa, USA, Americas

☆ Far-right origins of false pet-eating claims and Boeing workers to strike: Morning Rundown
▼ + stars: | 2024-09-13 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +6 min

How a fringe claim about immigrants eating pets made it to the mainstream. Boeing workers are set to strike. How a fringe claim about immigrants ‘eating the pets’ made its way to the debate stageIt started as a fringe obsession. “In Springfield they’re eating dogs,” Trump said, referring to an Ohio city dealing with an influx of Haitian immigrants. More 2024 election coverage:Boeing workers set to strike after rejecting contractMore than 30,000 Boeing workers are set to strike today, halting production on most of the company’s aircraft, after staff overwhelmingly rejected a new labor contract.

Persons: ’, Donald Trump, Kamala Harris, ” Trump, Read, Trump’s, Sen, JD Vance, Ohio, “, ”, It’s, Justin Wayne Halstenberg, San Bernardino County Sheriff Shannon Dicus, Halstenberg, Jason Anderson, Trump, Newsmax, Tua Tagovailoa, Edward Caban, Søren Rysgaard, — Evan Bush, there’s, Elizabeth Robinson Organizations: Boeing, “, Facebook, Trump, International Association of Machinists, Aerospace Workers, San Bernardino County Sheriff, Cal Fire, Miami Dolphins, Buffalo Bills, New York, New York City Police, Idaho Supreme, University of Idaho, Ivy League, Danish Army, seismologists, NBC Locations: Springfield , Ohio, Springfield, Ohio, Nazi, Seattle, Oregon, California, San Bernardino County, Southern California, Georgia, New York City, Idaho, Greenland

☆ Boeing Union Members Vote to Strike
▼ + stars: | 2024-09-13 | by ( Shawn Paik | ) www.nytimes.com time to read: 1 min

Strike!” “This is about respect. Our members rejected the contract by 94.6 percent. And they voted to strike by 96 percent. We will be back at the table whenever we can get there to drive forward on the issues that our members say are important. Congratulations, machinists.”

Persons: ”

☆ Fmr. United Airlines CEO Oscar Munoz weighs in on impact of Boeing strike
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. United Airlines CEO Oscar Munoz weighs in on impact of Boeing strikeOscar Munoz, Former United Airlines CEO, joins 'Closing Bell Overtime' to talk the Boeing strike and its impact on the company.

Persons: Oscar Munoz Organizations: United Airlines, Boeing, Former United Airlines CEO

☆ Stocks making the biggest moves premarket: Boeing, Oracle, Moderna and more
▼ + stars: | 2024-09-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Boeing — The stock sank 4% after Boeing factory workers went on strike early Friday after rejecting a new labor contract. Oracle — Shares of the database software company rallied more than 6%. Oracle lifted its fiscal 2026 revenue forecast and shared strong guidance for the 2029 fiscal year. RH — Shares of the home furnishings retailer surged 21% after a stronger-than-expected second quarter. Adobe — Shares sank more than 8% after the company issued softer-than-expected guidance for the current quarter.

Persons: Max, Kevin Clark, — CNBC's Michelle Fox, Lisa Han, Sarah Min, Jesse Pound Organizations: Boeing, Oracle —, Oracle, Moderna —, JPMorgan, —, Adobe —, Adobe, Aptiv, U.S . Securities, Exchange Commission, AstraZeneca —, Deutsche Bank

☆ CFO of Boeing 'disappointed' that machinists have rejected contract
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCFO of Boeing 'disappointed' that machinists have rejected contractCNBC's Phil Lebeau reports on the latest details about the Boeing strike.

Persons: machinists, CNBC's Phil Lebeau Organizations: Boeing

☆ Here's what the Boeing strike might mean for flyers
▼ + stars: | 2024-09-13 | by ( Rob Wile | ) www.cnbc.com time to read: +3 min

Boeing workers went on strike Friday, the latest disturbance in what has proven a devastating year for the American aircraft manufacturer. Southwest had sharply brought down its delivery target for Boeing aircraft earlier this year. A United spokesperson said the carrier was working with Boeing to understand what the impact to the airline's delivery schedule might be. "There will probably be very little direct impact on consumers as a result of the Boeing strike," Harteveldt told NBC News. The previous Boeing machinists strike, in 2008, lasted nearly two months; however, in a note to clients, Bank of America analyst Ronald Epstein said the latest one could prove as short as a week.

Persons: Jon Holden, Henry Harteveldt, Harteveldt, Ronald Epstein, Boeing's Organizations: Aerospace Machinists, Boeing, Alaska Airlines, Southwest Airlines, International Association of Machinists, Aerospace Workers, Southwest, United, Atmosphere Research, NBC, Bank of America, FAA, Dow Locations: Seattle , Washington, U.S, Southwest, United, Renton , Washington

☆ Boeing could face a $1.3b hit, if strikes continue for a month
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoeing could face a $1.3b hit, if strikes continue for a monthCNBC's Phil LeBeau joins 'Power Lunch' to discuss Boeing's stock facing pressure from its machinists going on strike.

Persons: Phil LeBeau Organizations: Boeing

☆ Boeing warns strike will 'jeopardize' recovery, hurt aircraft production
▼ + stars: | 2024-09-13 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Union members hold picket signs during a news conference following a vote count on the union contract at the IAM District 751 Main Union Hall in Seattle, Washington, US, on Thursday, Sept. 12, 2024. Boeing CFO Brian West said a labor strike that began Friday will hurt aircraft deliveries and "jeopardize" the company's recovery, hours after factory workers overwhelmingly rejected a new labor contract and walked off the job. West said the financial impact of the strike will depend on how long it lasts, but that it will affect the company's production of its bestselling planes. Jefferies aerospace analyst Sheila Kahyaoglu had previously estimated that a 30-day strike could be a $1.5 billion hit for Boeing. But workers had been looking for raises of 40% and argued that it didn't cover the increased cost of living.

Persons: Brian West, West, Sheila Kahyaoglu, Kelly Ortberg Organizations: IAM, Hall, Boeing, Max, Jefferies, International Association of Machinists, Aerospace Workers Locations: Seattle , Washington, US

☆ CNBC Daily Open: With all key data in, the Fed's policy path looks more uncertain
▼ + stars: | 2024-09-13 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Hotter-than-expected core, againThe U.S. producer price index, which measures the prices producers receive before retailers sell goods and services to consumers, rose 0.2% in August, according to the Bureau of Labor Statistics. However, like the consumer price index, core PPI came in 10 basis points higher than expected. But investors are ignoring two big risks to the market, said a chief investment officer of a wealth management firm.

Persons: Hong, Dow Jones, Sheila Kahyaoglu, Safra Catz, Bond Organizations: CNBC, Nasdaq, Dow Jones Industrial, Nikkei, U.S ., Bureau of Labor Statistics, PPI, Boeing, Jefferies, Oracle, Amazon, Google, Microsoft Locations: Asia, Pacific, U.S, Seattle, Oregon

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