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☆ The world's largest jet engine maker confirms it won't develop supersonic engines for Boom, leaving the startup with few options
  + stars: | 2022-10-21 | by ( Taylor Rains | ) www.businessinsider.com   time to read: +4 min
CFM International told media on Sunday that the company has no plans to build a supersonic engine for Boom. Colorado-based startup Boom Supersonic is developing an ultra-high-speed jet, known as Overture, that could catapult travelers from New York to London in less than four hours. But, there is one problem — no engine makers want to help Boom create a supersonic engine. Engine maker Rolls-Royce was at one point a contender, having signed an "engagement agreement" with Boom in 2020 to look into a supersonic engine. However, if Boom is able to pull off creating a supersonic engine, it could give the company a big advantage in the industry.
☆ America's new nuclear power industry has a Russian problem
  + stars: | 2022-10-20 | by ( Sarah Mcfarlane Timothy Gardner Susanna Twidale | Sarah Mcfarlane | Timothy Gardner | ) www.reuters.com   time to read: +10 min
Register now for FREE unlimited access to Reuters.com RegisterThe energy crisis triggered by the war in Ukraine has renewed interest in nuclear power. But without a reliable source of the high assay low enriched uranium (HALEU) the reactors need, developers worry they won't receive orders for their plants. But only TENEX, which is part of Russian state-owned nuclear energy company Rosatom, sells HALEU commercially at the moment. And this chicken and egg conundrum is complicating the smooth development of HALEU supply. "A reliable HALEU supply is one of many factors under consideration," the company said in an emailed statement.
☆ Canada recession may be ‘necessary evil’ as central bank queues big hike
  + stars: | 2022-10-20 | by ( Julie Gordon | ) www.reuters.com   time to read: +4 min
Register now for FREE unlimited access to Reuters.com RegisterThat may be just what the central bank is looking for, said analysts. Inflation in Canada edged down to 6.9% in September, below June's peak of 8.1%, though still well above the Bank of Canada's 2% target. A majority of Canadian firms, meanwhile, think a recession is now likely in the next 12 months, a Bank of Canada survey showed this week. This means the central bank will not start cutting rates until inflation is "within shouting distance" of the 1-3% control range, he said. "I don't think they necessarily are aiming for a recession," said Andrew Kelvin, chief Canada strategist at TD Securities.
☆ Why the 'Amazonification' of startups isn't always a good thing
  + stars: | 2022-10-19 | by ( Jordan Parker Erb | ) www.businessinsider.com   time to read: +5 min
Plus, we've got news on actual robots, who are threatening to pit humans against machines. That's not always a good thing. Companies love to hire Amazon alumni who inject their firms with Jeff Bezos' metrics-focused style. Amazon-trained leaders (sometimes known as "Jeff Bots") have founded more than 650 startups, and swaths have joined the industry's top C-suites, contributing to the "Amazonification" of said firms. Now, humans need to determine how to synchronize our labor with the souls of new machines — before things get out of hand.
☆ Cadillac's new $300,000 electric car comes with 5 screens, futuristic looks, and 300 miles of range — see the Celestiq
  + stars: | 2022-10-18 | by ( Tim Levin | ) www.businessinsider.com   time to read: +3 min
The Cadillac Celestiq. The Cadillac Celestiq. The Cadillac Celestiq. The Cadillac Celestiq. The Cadillac Celestiq.
☆ A top House Republican gifted Kevin McCarthy an ornate silver bowl as a nod to a famous scene from HBO's 'The Wire' about leaders having to eat crap: book
  + stars: | 2022-10-18 | by ( Brent D. Griffiths | ) www.businessinsider.com   time to read: +3 min
A top ally of Kevin McCarthy loved "The Wire" so much that he gave the Republican a silver bowl. Nonetheless, McHenry continued to email the Republican clips of the scene that incredibly is a parable an actual politician used to tell. "There's a knock at the door in the corner of the room, and Pete comes walking in carrying this gorgeous Sèvres silver bowl, hand chased ... 'It's from the unions,' Tony, played by Sam Coppola, says. You're sitting, eating shit all day long, day after day, year after year." So according to Draper, the North Carolinian bought an ornate silver bowl that was once the property of the British army.
☆ Rolls-Royce revealed its first electric car, the $400,000 Spectre. Peek inside one of the most luxurious EVs money can buy.
  + stars: | 2022-10-18 | by ( Tim Levin | ) www.businessinsider.com   time to read: 1 min
Rolls-Royce hasn't specified exactly how much it'll charge for the Spectre, but said it will slot between the roughly $350,000 Cullinan SUV and the roughly $460,000 Phantom. The Rolls-Royce Spectre. Rolls-Royce
☆ Rolls-Royce says it already has hundreds of U.S. orders for its $413,000 Spectre electric vehicle
  + stars: | 2022-10-18 | by ( Robert Frank | ) www.cnbc.com   time to read: 1 min
More than 300 U.S. buyers have already put down deposits for Rolls-Royce's first electric vehicle prior to its unveiling on Tuesday, the luxury automaker's CEO told CNBC. Rolls-Royce CEO Torsten Muller-Otvos told CNBC that the buyers visited the company's headquarters in Goodwood, England over the past two weeks to get a sneak peak at the Spectre, which was publicly revealed Tuesday and comes with a starting price tag of $413,000. The two-door coupe, which is sleeker than a typical Rolls, has a range of about 320 miles and can go from 0-60 miles per hour in 4.4 seconds. Rolls-Royce has said its entire product line will be fully electric by 2030. Muller-Otvos said the buyers put down deposits before they even saw the car.
☆ Rolls-Royce’s first electric car has two doors and is longer than a Cadillac Escalade
  + stars: | 2022-10-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +4 min
CNN Business —Rolls-Royce will start production of its first electric car next year. That’s fairly sleek, but just in the ballpark among modern electric cars. Even an electric Rolls-Royce could hardly go without the grille, though, since the upright, tombstone-shaped slab of metal slats is among the most genuinely iconic in the industry. This follows the strategy of Rolls-Royce’s parent company, BMW, which also relies on flexible engineering that can be used to build both gasoline and electric cars. Usually automakers try to conserve weight when making electric cars to make up for all the mass the batteries themselves add.
☆ Rolls Royce introduces its first EV model "Spectre"
  + stars: | 2022-10-18 | 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 EmailRolls Royce introduces its first EV model "Spectre"CNBC's Robert Frank joins 'Power Lunch' to report on Rolls Royce rolling out its first-ever electric vehicle, the Spectre. Priced at $413,000, the vehicle is the most expensive EV on the market.
☆ Rolls-Royce unveils its first electric vehicle, the $413,000 Spectre
  + stars: | 2022-10-18 | by ( Delon Thornton | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRolls-Royce unveils its first electric vehicle, the $413,000 SpectreLuxury car maker Rolls-Royce just unveiled the Spectre, the latest addition to its fleet. It'll be the company's first electric vehicle and comes with a whopping $413,000 price tag, making it the most expensive EV on the market.
☆ Canadian firms see recession coming as inflation expectations stay high
  + stars: | 2022-10-17 | by ( Julie Gordon Ismail Shakil | Julie Gordon | Ismail Shakil | ) www.reuters.com   time to read: +3 min
OTTAWA, Oct 17 (Reuters) - Business sentiment has softened in Canada and most firms now think a recession is likely, a Bank of Canada survey showed on Monday, but inflation expectations remain high, leaving the central bank little choice but to continue raising rates. The bank's Business Outlook Survey showed 77% of firms see price growth staying above 3% for the next two years. A separate survey showed near-term consumer inflation expectations at record highs, though longer term expectations have eased, providing some relief. "Still-high expectations for inflation will keep the Bank of Canada in rate hike mode," said Andrew Grantham, senior economist at CIBC Capital Markets, in a note. That is cause for concern for the central bank as it seeks to avoid a wage-price spiral, analysts said.
☆ Watch the first electric Rolls-Royce illuminate its doors and ceiling
  + stars: | 2022-10-17 | by ( ) edition.cnn.com   time to read: 1 min
How relevant is this ad to you? Video player was slow to load content Video content never loaded Ad froze or did not finish loading Video content did not start after ad Audio on ad was too loud Other issues
☆ Review: Driving the $360,000 Bentley Continental GT Speed is the closest I'll ever get to heaven on Earth
  + stars: | 2022-10-17 | by ( Alanis King | ) www.businessinsider.com   time to read: +9 min
The Bentley Continental GT Speed. The Bentley Continental GT Speed. The Bentley Continental GT Speed. The Bentley Continental GT Speed. The Bentley Continental GT Speed.
☆ GM tests limits of Cadillac’s brand power with $300,000 Celestiq electric car
  + stars: | 2022-10-17 | by ( Michael Wayland | ) www.cnbc.com   time to read: +6 min
2024 Cadillac Celestiq CadillacDETROIT – Cadillac is testing the limits of its brand allure and pricing power with the 2024 Celestiq – a large, bespoke electric car that will start at more than $300,000. The vehicle – unveiled Monday night – launches the General Motors brand into the ultra-luxury segment against the likes of Bentley and Rolls-Royce. Executives say the vehicle is more about creating a "halo car" that helps burnish Cadillac's image, rather than fueling overall sales or profits. 2024 Cadillac Celestiq CadillacHarvey declined to discuss the vehicle's profit margins or whether the company plans to add additional hand-built models. Cadillac has not sold a hand-built vehicle for decades, but its crosstown rivals have offered such cars as custom performance models.
☆ Disney restored Walt's Mickey Mouse One Gulfstream private jet that was left to rot in Florida's heat and humidity – take a closer look at the vintage plane
  + stars: | 2022-10-14 | by ( Brady Macdonald | ) www.businessinsider.com   time to read: 1 min
The plane was decommissioned in 1992 and the twin Rolls Royce engines and everything in the cockpit were sold. "There was a lot of material inside the plane that couldn't be salvaged," Cline said. "They replaced the windows and resealed everything to protect it, but pretty much everything was taken out of the interior at that point. What was salvageable was shipped to the Walt Disney Archives here in California." Walt Disney drives a miniature railroad with a line of passengers behind him at his home in the 1950s.
☆ A couple used the empty Florida mansions of top Venezuelan officials to defraud banks of almost $10 million, report says
  + stars: | 2022-10-14 | by ( Sam Tabahriti | ) www.businessinsider.com   time to read: +3 min
A couple used the empty Florida mansions of top Venezuelan officials to defraud banks. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyA couple used the empty Florida mansions of top Venezuelan officials to defraud banks of almost $10 million, The Wall Street Journal reported. The Trump administration had sanctioned or indicted top Venezuelan officials and associates in 2019, which gave Castañed the idea of targeting mansions and penthouses in Miami owned by Venezuela's elite. With the help of fake passports, Castañeda and Martusciello, as well as their accomplices, impersonated four property owners. They then got banks to lend them almost $10 million against the homes and had the money wired to bank accounts they controlled.
☆ Airbus 'turns page' on Brexit but presses UK on helicopters, space
  + stars: | 2022-10-12 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Oct 12 (Reuters) - The head of planemaker Airbus "turned the page" on the planemker's past opposition to Brexit and pledged to keep wings production in Britain, but said the European aerospace giant hoped to be "better understood" on helicopters and space. Register now for FREE unlimited access to Reuters.com RegisterA British government source said Truss had joined her business minister's introductory meeting with Airbus. Britain also plans to buy up to 44 medium helicopters to replace its fleet of Pumas and other military models, with Airbus' European rival Leonardo (LDOF.MI) seen as front-runner. Analysts say Leonardo dominates the UK military market where Airbus is touting a military version of its H175. Faury said Airbus had "turned the page" on its public opposition to Brexit during Britain's 2016 referendum, which had been inspired by the European scale needed to build planes.
☆ Canada's economy unexpectedly grows in July, though momentum slows
  + stars: | 2022-09-29 | by ( Julie Gordon | ) www.reuters.com   time to read: +3 min
The Canadian economy grew 0.1% in July, compared with analysts' forecast for a 0.1% decline, Statistics Canada data showed. Growth in goods-producing industries more than offset the first decrease in services-producing industries since January. "After a solid first half of the year, momentum appears to be slowing as multi-decade-high inflation and rapidly rising interest rates weigh on the economy," Benjamin Reitzes, Canadian rates and macro strategist at BMO Economics, said in a note. Hot inflation means the Bank of Canada will likely hike interest rates at its next decision in late October, but then the game may change, economists said. "The deceleration in economic momentum is why we see the Bank of Canada only hiking rates once more in October," Mendes said.
☆ Analysis: Loonie bulls reel as Bank of Canada trails Fed on terminal rate bets
  + stars: | 2022-09-27 | by ( Fergal Smith | ) www.reuters.com   time to read: +4 min
A Canadian dollar coin, commonly called a "loonie," and an American dollar bill are seen in this staged photo in Toronto, March 17, 2010. ,A lower terminal rate for the BoC than the Fed is not uncommon, but it threatens to pour cold water on Canadian dollar bulls' expectations that interest rate differentials would help underpin the currency over the coming year. The Canadian dollar has weakened 7.5% against the greenback since the start of the year. Canada's housing market has slowed rapidly in recent months, while its share of the economy, at 9%, is nearly twice that of the U.S. housing market. "Canada's economy is simply more interest rate sensitive than the U.S. economy," said Royce Mendes, managing director and head of macro strategy at Desjardins.
☆ How Josh Harris, the owner of the 76ers and Devils, upset Apollo insiders with the time he spent on personal investments
  + stars: | 2022-09-20 | by ( Casey Sullivan | Hayley Cuccinello | ) www.businessinsider.com   time to read: +16 min
One former Apollo executive couldn't wrap his mind around how the firm got investors onboard with Harris' personal activities. One advisor to Harris' family office said there would be an internal conversation every year to ensure the proper expense allocations. Several former Apollo employees, however, said other Apollo executives were concerned about Harris' use of firm resources. Few if any sources Insider spoke with expected much to change in how private-equity executives managed their personal investments. The lawyer said that the documents often state that a firm's executives will dedicate "as much time as reasonably necessary" to managing their investments.
☆ Bank of Canada says inflation still too high, but moving in right direction
  + stars: | 2022-09-20 | by ( Julie Gordon David Ljunggren | Julie Gordon | David Ljunggren | ) www.reuters.com   time to read: +3 min
OTTAWA, Sept 20 (Reuters) - Inflation in Canada remains "too high" but is headed in the right direction, a Bank of Canada official said on Tuesday, adding that the central bank will do whatever is needed to bring price increases back to target. While we're headed in the right direction, that's still too high," Beaudry said in prepared remarks provided ahead of the speech. While some have argued policymakers need to engineer a recession to avoid this, Beaudry said the bank is working to convince Canadians the current period of high inflation is temporary and it will tame surging prices. Still, economists said if consumer and business surveys due out next month show inflation has become more entrenched, the Bank of Canada may have to change its tune. The Bank of Canada has boosted its policy rate by 300-basis points in six months and earlier this month signaled it was not yet done.
☆ Supersonic jet startup Boom's future is in doubt after every major jet-engine maker refuses to help
  + stars: | 2022-09-18 | by ( Taylor Rains | ) www.businessinsider.com   time to read: +4 min
Travel analyst Henry Harteveldt told Insider that Boom may build its own engine, which could be advantageous. However, Rolls-Royce told AIN Online in early September that it has since left the table. "We've completed our contract with Boom and delivered various engineering studies for their Overture supersonic program," Rolls-Royce said. "As a practice, we avoid commenting on any ongoing and confidential negotiation with our suppliers, until both sides are ready to announce jointly," Boom told Insider on Friday. "However, we can reconfirm our intention to announce Boom's selected engine partner and transformational approach for reliable, cost-effective, and sustainable supersonic flight, later this year."
☆ The B-52 was designed in a hotel room over a weekend in 1948, and it may still be flying 100 years later
  + stars: | 2022-09-16 | by ( Alex Hollings | Sandboxx News | ) www.businessinsider.com   time to read: +10 min
That design emerged from a hastily arranged work session in a Dayton hotel over a weekend in 1948. The B-52 started flying when America was still relying on P-51 MustangsUS Air Force F-51D Mustang fighters during the Korean War. Spanning wars and altitudesA US Air Force B-52F dropping 750-pound bombs over Vietnam in the 1960s. US Air ForceIn July 1948, Boeing received a contract from the still-new US Air Force to design and build a new heavy bomber. By late Friday night, the new B-52 bomber was already coming into focus.
☆ New Rolls-Royce CEO Embarks on Strategic Review of Jet Engine-Maker
  + stars: | 2022-07-20 | by ( Benjamin Katz | ) www.wsj.com   time to read: +1 min
FILE PHOTO: Signage for Rolls Royce is seen on model of an engine at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. REUTERS/Peter Cziborra/File PhotoLONDON—Embattled British aircraft-engine maker Rolls-Royce Holdings PLC has embarked on a strategic review led by its new chief executive in a fresh effort to turn the company around. The CEO said details would be announced in the second half of this year and that it was too early to outline any potential outcomes, including possible job cuts. Frankly, catching up with competition cannot be the full potential of Rolls-Royce,” Mr. Erginbilgic told reporters Thursday. “No company can continue like this, therefore we need to change.”
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