DIRS.INFO The most relevant business & tech news

☆ Spirit Airlines offers buyouts to salaried employees to cut costs
▼ + stars: | 2023-11-29 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Spirit Airlines is offering voluntary exit packages to salaried employees, the budget carrier's latest cost-cutting measure as it expects financial strains to continue next year. "Now, we're taking the next difficult step – enacting an Early Voluntary Out program for salaried Team Members," Christie wrote in the memo. The company had a similar plan during the height of Covid pandemic. "Based on the success of that plan, we're implementing a similar set of opportunities to help us right-size our organization for our current fleet and business constraints." The Wall Street Journal reported the Spirit Airlines buyouts earlier Wednesday

Persons: Ted Christie, Christie Organizations: Airlines, Airbus, Pratt, Whitney, CNBC, Denver, Team, JetBlue Airways, Justice Department, Street Journal, Spirit Airlines Locations: Boston

Ussery died Thursday of congestive heart failure at an assisted living facility in Hollywood, Florida, his son Robert told The Associated Press on Friday. Ussery won the 1967 Derby aboard 30-1 longshot Proud Clarion. He picked up the mount after his original Derby horse, Reflected Glory, couldn’t make the race because of sore shins. “He was running on the hard surface and all the other horses were running in the sand like at the beach,” his son Robert recalled. Besides his son, Ussery is survived by four grandchildren and two great-grandchildren.

Persons: Bobby Ussery, Ussery, Robert, Travers, couldn’t, shins, Peter Fuller, Alex Harthill, Fuller, ”, Ussery’s, Robert Nelson Ussery, “, Debra Paramanis, ___ Organizations: of Fame, Kentucky Derby, Associated Press, National Museum of Racing, Hall of Fame, Derby, Flamingo, Flamingo , Florida Derby, Preakness, Bally Ache, Oklahoma Horse Racing Hall of Fame Locations: Hollywood , Florida, New Orleans, Whitney, Alabama, Saratoga, bute, Churchill Downs, Churchill, Belmont, Bagdad, New Providence, Flamingo , Florida, Kentucky, Vian , Oklahoma, New York

☆ Meredith Whitney Advisory Group CEO: You will see a 'leg down' in housing over the next year
▼ + stars: | 2023-11-07 | 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 EmailMeredith Whitney Advisory Group CEO: You will see a 'leg down' in housing over the next yearMeredith Whitney, founder and CEO of Meredith Whitney Advisory Group, joins 'Squawk on the Street' to discuss what Whitney is seeing from the U.S. consumer, her thoughts on the economic prospects for each generation, and more.

Persons: Meredith, Meredith Whitney, Whitney Organizations: Advisory, Meredith Whitney Advisory Locations: U.S

☆ Mark Cuban gave these ‘Shark Tank’ founders $225,000—a year later, their revenue quadrupled to $1.1 million
▼ + stars: | 2023-11-07 | by ( Megan Sauer | ) www.cnbc.com time to read: +1 min

When Whitney and Chaz Gates' annual sales more than quadrupled in less than a year, they credited their lead investor: Mark Cuban. On Friday's episode of ABC's "Shark Tank," the husband-and-wife duo said that Wondry, their Black-owned wine label, brought in $1.1 million in revenue over the previous 11 months. At the time, the couple's pitch landed them $225,000 of Cuban's money in exchange for 15% of the Dallas-based company. "Before 'Shark Tank,' we were just a local Texas business," said Whitney, Wondry's CEO. Here's how Cuban's $225,000 turned into $1.1 million in sales, according to the Gateses.

Persons: Whitney, Chaz Gates, Mark Cuban, Wondry Locations: Dallas, Texas

☆ Spirit Airlines suspends training for new pilots after difficult quarter, Pratt engine issue
▼ + stars: | 2023-10-27 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

"With these recent developments, however, we will also be suspending all new-hire training efforts starting in November, until further notice." The carrier said it expects 13 grounded planes in January, rising to 41 in December of next year. The airline had a fleet of 202 Airbus planes as of Sept. 30, according to a filing. The budget airline Spirit on Thursday posted a net loss of $157.6 million, which was more than four times its loss a year ago. "And, unfortunately, we have not seen the anticipated return to a normal demand and pricing environment for the peak holiday periods."

Persons: Greg Christopher, Christopher, RTX, Ted Christie Organizations: Airbus, CNBC, Pratt, Whitney Locations: Miramar , Florida

GE shares were up 6% at $113.14 in pre-market hours. The Boston-based group now expects 2023 adjusted profit per share of $2.55 to $2.65, compared with an earlier forecast of $2.10 to $2.30. "At GE Aerospace, we continue to experience rapid growth driven by robust demand and solid execution, largely in commercial engines and services," CEO Larry Culp said in a statement. GE's aerospace unit, which makes engines for Boeing Co (BA.N) and Airbus (AIR.PA) jets, posted double-digit growth in orders, revenue and profit from a year earlier. Shares of its aerospace unit will continue GE's listing on the New York Stock Exchange under the ticker symbol "GE", the company said.

Persons: Benoit Tessier, Larry Culp, RTX, Pratt, Whitney, Culp, Rajesh Kumar Singh, Sriraj Kalluvila, Jason Neely, Jan Harvey Organizations: Electric, GE, Boeing, Paris, REUTERS, General, GE Aerospace, Boeing Co, Airbus, New York Stock Exchange, AerCap Holdings, Thomson Locations: Le Bourget, Paris, France, Boston, Chicago, Bengaluru

☆ Rite Aid is closing nearly 100 stores as part of its bankruptcy. See the list
▼ + stars: | 2023-10-18 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

New York CNN —Rite Aid, which had filed for Chapter 11 bankruptcy protection, is now preparing to shed almost 100 stores nationwide as part of its restructuring efforts. Over the past six years, Rite Aid has tallied nearly $3 billion in losses. in Costa Mesa, California139 North Grand Ave. in Covina, California20572 Homestead Road in Cupertino, California24829 Del Pradoin Dana Point, California7859 Firestone Blvd. in Yorba Linda, California25906 Newport Road in Menifee, California1600 North Main St. in Meridian, Idaho5808 Ritchie Hwy. in Mill Creek, Washington601 South Grady Way in Renton, Washington2707 Rainier Ave. in South Seattle, Washington– CNN’s David Goldman contributed to this story

Persons: Del, Dana, Glen, Ephraim Ave, Arnold St, Nicholas Ave, Reed, Washington – CNN’s David Goldman Organizations: New, New York CNN — Rite, Real Estate Partners, Rite Aid, Amazon, Walmart, Target, Costco, Aid, Solutions, SEC Alabama, Valley, Firestone, Alvarado St, Fulton, Yorba, Bel Air, Pulaski, Garfield, Main St, Clinton St, Michigan, Whittemore St, Hamilton St, Sunrise, Elmwood, New Carlisle , Ohio Euclid, Gettysburg, Medford, 9th St, Liberty, Eisenhower, Stevenson, 5th St, Reed St, Oxford, 63rd, Brighton, East Central, St, Evergreen, Grady Locations: New York, California, Maryland, Michigan, New Jersey, Ohio, Oregon, Pennsylvania, Washington, Alabama, Idaho, Pike, Monroeville , Alabama, Alhambra , California, Bellevue, Atwater , California, Costa Mesa , California, Covina , California, Cupertino , California, Dana Point , California, Downey , California, Irvine , California, La Mirada , California, Laguna Niguel , California, South Centinela, Los Angeles , California, Alvarado, Monterey , California, St, Ramona , California, Fulton Ave, Sacramento , California, Santa Cruz , California, Yorba Linda , California, Menifee , California, Main St, Meridian , Idaho, Baltimore , Maryland, Bel Air , Maryland, Elkton , Maryland, Glen Burnie , Maryland, Gratiot, Clinton Township , Michigan, Detroit , Michigan, Farmington Hills , Michigan, Fremont , Michigan, Clinton, Grand Ledge , Michigan, Jackson , Michigan, Macomb , Michigan, U.S, Manistee , Michigan, Redford , Michigan, Shelby Township , Michigan, St . Johns , Michigan, Centerville, Sturgis , Michigan, Taylor , Michigan, Wixom , Michigan, Berlin , New Hampshire Grove St, Peterborough , New Hampshire, Browns Mills , New Jersey, Camden , New Jersey, Lumberton , New Jersey, Bridgeton Pike, Mantua , New Jersey, Mullica Hill , New Jersey, Edinburg, Robbinsville , New Jersey, Hamilton, Somerset , New Jersey, Williamstown , New Jersey, Bay Shore , New York, Buffalo , New York, Copiague , New York, East Northport , New York, Floral, , New York, Jamaica , New York, Elmwood Ave, Kenmore , New York, Hempstead, Levittown , New York, Patchogue, Yaphank, Medford , New York, New York , New York, Port Jefferson , New York, Sayville , New York, Smithtown , New York, West Patchogue , New York, New Carlisle , Ohio, Strathmore, East Cleveland , Ohio, Dayton , Ohio, Cleveland , Ohio, Medford , Oregon, Cully, Portland , Oregon, 9th, Chester , Pennsylvania, Coraopolis , Pennsylvania, Erie , Pennsylvania, Greensburg , Pennsylvania, Hanover , Pennsylvania, New Castle , Pennsylvania, New Kensington , Pennsylvania, Pennsburg , Pennsylvania, 5th, Philadelphia , Pennsylvania, Venango St, 63rd St, Pottsville , Pennsylvania, Rochester , Pennsylvania, East Central Ave, Titusville , Pennsylvania, White Haven , Pennsylvania, Bellevue , Washington, Bellingham , Washington, Blaine , Washington, Covington , Washington, Everett , Washington, Lynnwood , Washington, Mill Creek, Renton , Washington, Rainier, South Seattle

☆ Rite Aid is planning to close about 150 locations. See if your local store is on the list.
▼ + stars: | 2023-10-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +9 min

Rite Aid filed plans to close 154 stores on Monday as part of its Chapter 11 bankruptcy. Rite Aid is the smallest of the three major drugstore chains, well behind CVS and Walgreens. Rite Aid was expected to close stores as part of its bankruptcy. Rite Aid told Insider that it considers a variety of factors when deciding to close a store, "including business strategy, lease and rent considerations, local business conditions and viability, and store performance." "We will also strive to transfer associates to other Rite Aid locations where possible," the company said.

Persons: —, Glen, Taylor, Daniel Webster, Merrick, William Penn, Redmond, Lacey Organizations: CVS, Walgreens, Service, Pennsylvania . Rite Aid, Wall Street Journal, Rite Aid, Rite, Crenshaw, Hollywood Way, San, Niguel, Yorba, Santa, Thompson Boulevard, Ventura, Atwater, Overland, Meridian, Main, Bel, Bel Air South, Park, Main Street, Lafayette, Garfield, Garden, Ford, Flint, Farmington, Whittemore Street, New Jersey :, Marshall, Bridgeton Pike, Whiting, Pike, Huntington, Jericho Turnpike, Jeff, North Street, Cesar, Chavez, Pennsylvania, Stevenson, Bethel, Union, Allentown, Fourth Street, Fifth, Washington Lane, Street, Central Avenue, Grady, Everett Locations: California, New York, Pennsylvania, Los Angeles, Rock, Centinela, Downey, Beach, Burbank, Hollywood Way Covina, Puente, Alhambra, Oceanside, San Diego, Yorba Linda, Santa Ana, Thompson, Thompson Boulevard Oxnard, Cupertino, Santa Clara, Cruz, Bellevue, Sacramento, Boulevard Ontario, Irvine, Monterey, Alvarado Street Connecticut, Bethel, Greenwood, Delaware, Newark, Hill, Wilmington, Idaho, Boise, Maryland, Elkton, Pulaski, Baltimore, Glen Burnie, Baltimore Annapolis Boulevard Massachusetts, Webster, Main Street Michigan, Fremont, Greenville, Clinton, Macomb, Sturgis, Centerville, Clinton Township, Gratiot, Shelby Township, Dyke, Jackson, Michigan, Manistee, Garden City, North, Detroit, Farmington Hills, St, Johns, Whittemore Street Lansing, Hampshire, Merrimack, New Jersey, New Jersey : West Milford, Mantua, Bridgeton, Irvington, Somerset, Williamstown, Pike New York, Brooklyn, Shore, Merrick, East Northport, Jericho, Jericho Turnpike Medford, Patchogue, West Patchogue, Kenmore, Rochester, Flushing, Levittown, Ohio, Massillon, East New Carlisle, Dayton, Youngstown, Springfield, North Street Bellefontaine, Oregon, Portland, Kensington, Brighton, Bethel Park, Pittsburgh, Greensburg, Bethlehem, Fourth Street Philadelphia, Venango, Washington, Conshohocken, Hanover, Mechanicsburg, Erie, Abington, York, Johnstown, Ardmore, Lancaster, Pittston, Wyoming, Yardley, Chester, Street Titusville, Central Avenue Virginia, Chesapeake, Pleasant, Seattle, Graham, Renton

☆ 'It's just a matter of time': After predicting the financial crisis, 'Oracle of Wall Street' Meredith Whitney shares the biggest risk she sees for the housing market — and 4 states where homeowners wi
▼ + stars: | 2023-10-08 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Instead, the CEO of the eponymous investment research firm Meredith Whitney Advisory Group is concerned that the US housing market will face a correction in the coming years. Baby boomers may cause home values to sinkWhitney believes property prices are destined to fall under pressure as demographic shifts reverse deep-rooted supply-demand dynamics. An unprecedented pace of property price growth has disproportionately benefited baby boomers and the silent generation. However, Whitney said that an aging US population won't cause the housing market to crash overnight. While Whitney reserves her full insights for clients, she named four states where property prices will eventually weaken: Pennsylvania, Connecticut, New Jersey, and Illinois.

Persons: Meredith Whitney, Oppenheimer, Meredith, Whitney, haven't, CoreLogic There's, That's, you've, that's, it's Organizations: Citigroup, Advisory, National Association of Realtors Locations: Statista, Pennsylvania, Connecticut , New Jersey, Illinois, Texas

☆ The fate of this consumer watchdog is in the hands of the Supreme Court
▼ + stars: | 2023-10-03 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

New York CNN —On Tuesday, the Supreme Court began hearing oral arguments in a case that will determine the fate of the Consumer Financial Protection Bureau. The Supreme Court will have the final say on that, however. The consumer watchdog agency was created after the 2008 financial crisis by way of the Dodd-Frank Wall Street Reform and Consumer Protection Act. If the Supreme Court finds the CFPB’s funding structure unconstitutional, it could shutter the agency and invalidate all of its prior rulings. From listening to the case on Tuesday, though, Lynyak believes the Supreme Court will rule that the CFPB’s funding structure is constitutional.

Persons: Dodd, Frank Wall, Democratic Sen, Elizabeth Warren, Ting Shen, Wells, Sam Gilford, ” There’s, Joseph Lynyak III, Lynyak, ”, Noel Francisco, Francisco, “, Sonia Sotomayor, Amy Coney Barrett Organizations: New, New York CNN, Supreme, Consumer Financial, Bureau, Community Financial Services Association of America, Appeals, Fifth Circuit, Frank Wall Street Reform, Consumer, Democratic, Harvard Law School, Federal Reserve, Bloomberg, Getty, “, Mortgage Bankers Association, National Association of Homebuilders, National Association of Realtors, Bank of America, Court, Federal Deposit Insurance Corporation, Congressional, CNN, Dorsey & Whitney, Republican Locations: New York, New Orleans, United States

☆ MTU CFO: will talk to Pratt & Whitney about compensation for 700 mln euro cash flow hit
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

The MTU Aero Engines logo is displayed at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 22, 2023. REUTERS/Benoit Tessier/File photo Acquire Licensing RightsBERLIN, Sept 13 (Reuters) - MTU Aero Engines (MTXGn.DE) will talk to U.S. partner Pratt & Whitney about compensation for an estimated 700 million euro hit to its cash flow caused by problems with its partner's geared turbofan engines, the German aircraft engine maker's chief financial officer said on Wednesday. The problems would not markedly affect the current year but will result in a hit to cash flow of about 700 million euros ($751.45 million), which will be felt mainly in 2024 and 2025, with some spillover in 2026, according to CFO Peter Kameritsch. MTU said in a statement earlier on Wednesday that it is considering leaving the "significant resulting charges" on reported revenue and earnings figures for 2023 out of its current year guidance. ($1 = 0.9315 euros)Reporting by Christina Amann, Writing by Miranda Murray, Editing by Rachel More, Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, Pratt, Peter Kameritsch, Kameritsch, Lars Wagner, Christina Amann, Miranda Murray, Rachel More, Elaine Hardcastle Organizations: International Paris Air, Le, REUTERS, Rights, Aero, Whitney, German, Pratt & Whitney, RTX Corp, Thomson Locations: Le Bourget, Paris, France

TOKYO (AP) — Asian shares were trading mixed Tuesday following a Big Tech rally on Wall Street, as investors awaited an update on U.S. consumer prices set for later in the week. The Federal Reserve is weighing whether to keep raising interest rates steady in its effort to get inflation back to 2%. Monday on Wall Street, the S&P 500 rose 0.7% to 4,487.46, coming off its first losing week in the last three. How Apple performs has great consequence for the market because it's the most valuable stock on Wall Street. In energy trading, benchmark U.S. crude gained 32 cents to $87.61 a barrel in electronic trading on the New York Mercantile Exchange.

Persons: Australia's, Hang Seng, ” Anderson Alves, ActivTrades, Tesla, Apple, RTX, Smucker, Daniel Zhang Organizations: TOKYO, Big Tech, Nikkei, Federal, Fed, Federal Reserve, CME Group, Dow Jones Industrial, Nasdaq, Amazon, Communications, Walt Disney Co, ESPN, Disney, Apple, Qualcomm, . Aerospace, Pratt & Whitney, Hostess Brands, New York Mercantile Exchange, Brent, U.S Locations: Hong, Shanghai, U.S, Folgers, Smucker’s, United States

☆ Bank consolidation needed as more credit comes from outside banking, says Meredith Whitney
▼ + stars: | 2023-09-05 | 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 EmailBank consolidation needed as more credit comes from outside banking, says Meredith WhitneyMeredith Whitney, founder and CEO of Meredith Whitney Advisory Group, joins 'Squawk on the Street' to discuss growing trends in bank consolidation, ring-fenced banks leading to a decrease in lending, and predictions for where the next regional hub of banks will be.

Persons: Meredith Whitney Meredith Whitney, Meredith Whitney Organizations: Bank, Meredith Whitney Advisory

☆ Watch CNBC's full interview with Meredith Whitney on bank consolidation and potential regulation
▼ + stars: | 2023-09-05 | 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 EmailWatch CNBC's full interview with Meredith Whitney on bank consolidation and potential regulationMeredith Whitney, founder and CEO of Meredith Whitney Advisory Group, joins 'Squawk on the Street' to discuss growing trends in bank consolidation, ring-fenced banks leading to a decrease in lending, and predictions for where the next regional hub of banks will be.

Persons: Meredith Whitney Organizations: Meredith Whitney Advisory

☆ DocGo Used Unregistered Guards at Migrant Hotels, N.Y. Officials Charge
▼ + stars: | 2023-09-01 | by ( Jay Root | More About Jay Root | ) www.nytimes.com time to read: +1 min

More than 50 security guards hired to protect asylum seekers bused upstate from New York City by a troubled migrant contractor are working without proper authorization, a New York Department of State investigation found. The department on Friday notified the two security companies that hired the guards — Trace Assets Protection Service L.L.C. and Wawanda Investigations and Security Company L.L.C. In some cases, it was not even clear if the guards were employees of the two security firms. “Please take notice that the continued employment of the above individuals, unless properly registered with the Department, is a continued and willful violation of law,” Ms. Clark wrote.

Persons: Whitney A, Clark, ” Ms Organizations: New York Department of State, Wawanda Investigations, Security Company, The New York Times, State, Business Development, Department Locations: New York City, New York, Erie County, Albany County

☆ Colleen Hoover is the hottest author in America. She also may be the most controversial
▼ + stars: | 2023-08-27 | by ( Aj Willingham | ) edition.cnn.com time to read: +13 min

“Colleen Hoover books always leave me speechless and in tears,” one TikTok reader said. However, Hoover’s work, she says, blurs that line with the addition of painful – and decidedly non-aspirational – narrative arcs. She pointed out what she saw as a pattern in Hoover’s books of women who endure disturbing behavior from their partners. Probably not.”Blake Lively and Justin Baldoni are set to star in the movie adaptation of Colleen Hoover's book "It Ends With Us." Hoover’s books are cloaked in bright, fashionable colors, and her author website offers boutique-style merchandise with flowers and calligraphy and inside jokes from her books.

Persons: doesn’t, Colleen Hoover, Hoover, ”, Blake Lively, Stephen King, It’s, “ Colleen Hoover, Lily Bloom, Atlas Corrigan, Ryle Kincaid, Lily, Ryle, –, influencer Whitney Atkinson, Atkinson, Colleen Hoover's, AJ Willingham, CNN Atkinson, ” Atkinson, “, ” Hoover, “ I’ve, Jenna Bush Hager, ” Amanda Diehl, Smart, “ I’m, Jennifer Prokop, ” Blake Lively, Justin Baldoni, Critics, ” Prokop, — that’s, problematically, Chick, ” Diehl, Diehl, that’s, it’s Organizations: CNN, New York Times, Trade, YouTube, ” CNN, “ Trade Locations: Texas

☆ Fact Check-No evidence lab-grown meat authorized in the US contains human cells
▼ + stars: | 2023-08-17 | by ( Reuters Fact Check | ) www.reuters.com time to read: +4 min

Regulators told Reuters that they had ensured the product labels stating the contents are made from chicken cells are “truthful.” Both companies deny that any human cells are involved in their products’ manufacture. “This claim is completely false,” Good Meat spokesperson Carrie Kabat said in an email. “Good Meat cultivated chicken is made from chicken cells and does not use human cells in any stage of our process.”Upside Foods spokesperson Brooke Whitney also said by email: “This claim is false. Reuters has previously addressed a satirical claim that human meat is being grown in the lab (here). Companies, regulators, and a Reuters reporter describe lab-grown chicken products approved for sale in the U.S. as made from chicken cells, not human cells.

Persons: Carrie Kabat, Brooke Whitney, it’s, Leah Douglas, Douglas, FSIS, Read Organizations: Reuters, U.S . Department of Agriculture, U.S . Food, Drug Administration, FDA, Regulators, Food Safety, Inspection, USDA, Safety, Federal, Poultry, Foods Locations: U.S

☆ Airlines are scrambling to find spare parts after a major engine manufacturer issued a recall
▼ + stars: | 2023-08-14 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

And Hawaiian Airlines' CEO said it had "spare support" including from P&W. Airlines are scrambling to find spare parts due to an engine recall which threatens to cancel flights, the Financial Times first reported. JetBlue, Spirit Airlines, Hawaiian Airlines, and Wizz Air are among the fleets which will be affected, and they've been updating investors on how they plan to deal with the disruption. Peter Ingram, the CEO of Hawaiian Airlines, told investors it had "spare support" from engines returning from the shop, or spares "supplied by Pratt & Whitney to support the operating carriers." Spirit, JetBlue, and Hawaiian Airlines did not immediately respond to Insider's request for comment, sent outside US working hours.

Persons: Pratt, Whitney, & Whitney, Joanna Geraghty, Peter Ingram, Pratt & Whitney, Wizz, RTX Organizations: Airlines, Financial Times, JetBlue, Spirit Airlines, Hawaiian Airlines, Wizz, &, Airbus, Pratt &, Reuters, Pratt, Whitney

Microscopic contaminants were found in a metal used in the engine's high-pressure turbine discs - part of the engine core. In an interview, Chief Executive Greg Hayes acknowledged the airlines' frustration over a spate of problems with the Geared Turbofan (GTF) engines over the last seven years. While the latest GTF issue could be the last straw for some, we suspect that the negative (share price) response is overdone". Low-cost Indian carrier Go First, which plunged into financial crisis this year, blamed "faulty" Pratt & Whitney engines for the grounding of about half its 54 Airbus A320neos. Announcing quarterly earnings on Tuesday, RTX increased its 2023 sales expectation from $72 billion to $73 billion to $73 billion to $74 billion.

Persons: Whitney, Pratt, Greg Hayes, Safran, RTX, Robert Stallard, Wizz, Hayes, Pratyush Thakur, Valerie Insinna, Mike Stone, Susan Mathew, Rajesh Singh, Tim Hepher, Shounak Dasgupta, Sharon Singleton, Nick Zieminski Organizations: Pratt, Airbus, U.S, RTX Corp, Raytheon Technologies, CFM International, GE, Reuters, Research, Spirit Airlines Inc, JetBlue Airways, Wizz, Thomson Locations: Paris, Bengaluru, Washington, Chicago

☆ RTX tumbles after disclosing jet-engine problem will require accelerated inspections
▼ + stars: | 2023-07-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Shares of RTX tumbled 14% Tuesday after the aerospace giant said a manufacturing problem with some of its popular engines will require "accelerated" inspections on about 200 airplane engines. The problem stems from powdered metal used to make some engine parts, RTX, the parent of airplane engine maker Pratt & Whitney, said during a quarterly earnings call. RTX, previously known as Raytheon Technologies, trimmed its cash-flow outlook for the year by $500 million to $4.3 billion due to the problem. "It's going to be expensive," RTX CEO Greg Hayes said during an earnings call. Pratt & Whitney said that it also expects about 1,000 more engines will have to be removed from airline fleets over the next nine to 12 months.

Persons: Pratt, Whitney, RTX, Greg Hayes, Airbus didn't Organizations: Whitney, Airbus A320neo, Airbus Group, Pratt, Raytheon Technologies, Boeing, Max, Federal Aviation Administration, FAA, Delta Air Lines, Airbus Locations: Hamburg, Germany, RTX

☆ Opinion | Robert F. Kennedy Jr. and the Coalition of the Distrustful
▼ + stars: | 2023-06-30 | by ( Michelle Goldberg | ) www.nytimes.com time to read: +2 min

Before Covid, Gabe Whitney, a 41-year-old from West Bath, Maine, didn’t think much about vaccines. He began following anti-vax figures like Del Bigtree, Robert Malone and, of course, Robert F. Kennedy Jr., whom Whitney already admired for his environmental work. Kennedy has long touted an illusory connection between vaccines and autism, and has repeatedly said that pandemic restrictions arose from a C.I.A. plan to “clamp down totalitarian control.” If Kennedy was so wrong, Whitney thought, it didn’t make sense that his critics wouldn’t debate him. (I requested an interview with Kennedy, but never heard back from the person I was told could schedule it.)

Persons: Gabe Whitney, didn’t, Donald Trump, Joe Biden, Whitney, “, ” Whitney, Del Bigtree, Robert Malone, Robert F, Kennedy Jr, Kennedy, ”, I’d, Joe Biden’s, Anselm, Marianne Williamson Organizations: Democratic, Saint Anselm College, Emerson College Locations: West Bath , Maine, Manchester, N.H

Separately, state agencies said late Thursday that millions of people in Louisiana and Oregon had their data compromised in a security breach. The cyberattack has targeted federal and state agencies. No other federal agencies have confirmed being impacted. And on Thursday, state agencies said 3.5 million Oregonians with driver’s licenses or state ID cards had been impacted by a breach as well as anyone with that documentation in Louisiana. But much of the responsibility now lies on businesses and federal agencies rather than individuals, according to Cattanach.

Persons: “, ” Robert Cattanach, Dorsey, you’re, ”, Clop, Brett Callow, Emsisoft, ” Callow, Aon, they’ve, ” CISA, Allan Liska Organizations: CNN, Infrastructure Security Agency, Whitney, Department of Justice, The Department of Energy, BBC, British Airways, Boston Globe, Sydney Phoenix, US Department of Homeland, Johns Hopkins University, University of Georgia, –, Progress Software Locations: Russian, Louisiana, Oregon, Minnesota, Illinois, Arlington , VA, Baltimore, Georgia’s

☆ Meredith Whitney is back. Here's her latest market call
▼ + stars: | 2023-06-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Famed analyst Meredith Whitney has ended a self-imposed exile from a finance world that she said had become "like watching paint dry." "Why I say there's no risk for an immediate downturn is because there's no forced selling," Whitney told CNBC's Sara Eisen during a " Squawk on the Street " interview. That forecast came after she had left Oppenheimer to start the Meredith Whitney Advisory Group, which she eventually shuttered to launch a hedge fund that no longer exists. Finance "was like watching paint dry, and things started to change about 18 months ago," Whitney said. In the current landscape, Whitney thinks the problems plaguing regional banks are collective "one-offs" that won't cause systemic damage.

Persons: Meredith Whitney, Whitney, CNBC's Sara Eisen, Oppenheimer Organizations: CNBC, Lehman, Citigroup, Meredith Whitney Advisory Group, Finance Locations: Silicon, Republic

☆ Meredith Whitney Advisory Group CEO: Not worried about a big downturn in the economy and housing
▼ + stars: | 2023-06-06 | 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 EmailMeredith Whitney Advisory Group CEO: Not worried about a big downturn in the economy and housingMeredith Whitney Advisory Group founder and CEO Meredith Whitney joins 'Squawk on the Street' to discuss why she thinks there's little risk of the housing downturn in the next five years, her comeback in the business, and more.

Persons: Meredith, Meredith Whitney Organizations: Advisory, Meredith Whitney Advisory Group

☆ India's Go First Airlines backs emergency arbitration in Pratt & Whitney dispute
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

May 15 (Reuters) - India's Go Airlines said on Monday it needed an emergency arbitration in its dispute with engine maker Pratt & Whitney to be enforced in Delaware to prevent it from going out of business. Last week, Pratt & Whitney argued in the Delaware court that Go First's claim was "unfounded" and the dynamics of the dispute had changed. Pratt's argument "fails," Go Airlines said in a filing with the Delaware court. The stay that Pratt sought would cause the harm that the emergency arbitration awards were designed to prevent, the filing added. Pratt & Whitney did not immediately respond to a request for comment.

Search resuls for: "Whitney A"

25 mentions found