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☆ Boeing starts furloughing tens of thousands of employees amid machinist strike
▼ + stars: | 2024-09-18 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Workers with picket signs outside the Boeing Co. manufacturing facility during a strike in Everett, Washington, US, on Friday, Sept. 13, 2024. Boeing will temporarily furlough thousands of U.S. executives, managers and other staff, citing the ongoing machinist strike as the company races to preserve cash, CEO Kelly Ortberg told employees on Wednesday. The furloughs will affect tens of thousands of Boeing employees, a company spokesperson said. Boeing had offered a 25% raise and the union endorsed the tentative contract. Boeing's CFO Brian West earlier this week said the company would freeze hiring and raises to cut costs, and would let "non-essential contractors" go temporarily.

Persons: Kelly Ortberg, Ortberg, Brian West, West Organizations: Boeing Co, Boeing, CNBC Locations: Everett , Washington, US, Seattle, Oregon, South Carolina

☆ It's a big week for central banks around the world, with a slew of rate moves on the table
▼ + stars: | 2024-09-16 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

Kevin Dietsch | Getty ImagesA flurry of major central banks will hold monetary policy meetings this week, with investors bracing for interest rate moves in either direction. The U.S. central bank is widely expected to join others around the world in starting its own rate-cutting cycle. Elsewhere, Brazil's central bank is scheduled to hold its next policy meeting across Tuesday and Wednesday. Traffic outside the Central Bank of Brazil headquarters in Brasilia, Brazil, on Monday, June 17, 2024. The central bank delivered its first interest rate cut in more than four years at the start of August.

Persons: Jerome Powell, William McChesney Martin, Kevin Dietsch, John Bilton, CNBC's, Bilton, David Volpe, Volpe, 25bps, Wilson Ferrarezi, BOE, Ruben Segura Cayuela Organizations: Federal Reserves, Washington , D.C, Federal, Traders, The Bank of England, Norway's Norges Bank, South Africa's, Bank, Bank of Japan, Morgan Asset Management, European, Bank of England, ECB, Emerald Asset Management, Banco Central, TS Lombard, Central Bank of, Bloomberg, Getty, Reuters, Bank of America Locations: Washington ,, U.S, Brazil's, Brazil, Central Bank of Brazil, Brasilia, South Africa, Norway, Japan

☆ 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

☆ 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

☆ 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

☆ 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

☆ Over 30,000 Boeing workers are preparing to strike after rejecting a new labor contract
▼ + stars: | 2024-09-13 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Read previewOver 30,000 Boeing workers, or about 20% of the company's employees, are preparing to strike on Friday after rejecting a new labor contract. Workers in Washington and Oregon voted against an agreement that Boeing and the labor union for machinists and aerospace workers proposed on Sunday. The vote was the first full contract vote in 16 years. The tentative labor contract, which included a pay increase over four years, was touted as another win for the beleaguered company. The proposal left workers unsatisfied, Jon Holden, president of the IAM's district 751 and lead negotiator on the Boeing contract, told Reuters on Monday.

Persons: —, Max, Kelly Ortberg, Ortberg, TD Cowen, Jon Holden, Holden Organizations: Service, Workers, Boeing, Business, International Association of Machinists, Aerospace Workers, IAM, Reuters Locations: Washington, Oregon, Boeing's, North America, Pacific Northwest, California, Renton , Washington, Seattle, IAM's

☆ 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

☆ Dollar weak as traders add to wagers of big rate cut from Fed
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: +3 min

While the Fed is all but certain to cut rates next week, uncertainty around whether it will go with a 25 basis point cut or 50 basis points has kept investors on the edge and weighed on the dollar. Analysts pointed to media reports from the Financial Times and the Wall Street Journal suggesting the Fed's decision would be a close call as one of the reasons for traders adding to wagers of a big rate cut next week. Higher U.S. jobless claims data released on Thursday and the Wall Street Journal article on the Fed's rate cut dilemma revived bets on a jumbo cut at the September meeting, according to Christopher Wong, currency strategist at OCBC. Besides the Fed, the Bank of England and Bank of Japan hold policy meetings next week. "Risks remain that inflation may not return to target as easily as everyone, including the Fed, seems to expect."

Persons: Christopher Wong, Christine Lagarde, Ryan Brandham, Naoki Tamura, Sterling, BoE Organizations: Federal Reserve, Financial Times, Wall, Traders, European Central Bank, Fed, Bank of England, Bank of Japan, Validus Risk Locations: North America

☆ Boeing workers strike for first time since 2008 after rejecting contract
▼ + stars: | 2024-09-13 | 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 EmailBoeing workers strike for first time since 2008 after rejecting contractCNBC's Phil LeBeau reports on news from the Boeing strike.

Persons: CNBC's Phil LeBeau Organizations: Boeing

☆ Boeing credit ratings at risk
▼ + stars: | 2024-09-13 | 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 EmailBoeing credit ratings at riskCNBC's Phil Lebeau reports on the latest details about the Boeing strike.

Persons: Phil Lebeau Organizations: Boeing

The Summary Boeing officials have made few public comments about the company's Starliner spacecraft over the last six weeks. Just over an hour after Boeing’s Starliner capsule made its uncrewed return to Earth, NASA convened a standard post-landing briefing to discuss the end of the tumultuous test flight. The capsule’s first crewed test flight, the mission was expected to last around eight days. The pair is scheduled to stay at the space station until February then return with members of an upcoming ISS crew. In 2019, an uncrewed test flight to the space station was cut short because of technical glitches and the company was forced to repeat it in 2022.

Persons: Eric Berger, Joel Montalbano, ”, Mark Nappi, “, NASA’s, Starliner, Butch Wilmore, Suni Williams, Wilmore, Williams, Boeing’s Organizations: Boeing, NASA, Space Center, Ars Technica, NBC, NASA’s Kennedy Space Center, International Space Station, Agency, SpaceX, ISS, Crew Locations: Houston, Florida

☆ Boeing faces strike threat as workers vote on new contract
▼ + stars: | 2024-09-12 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Boeing workers are voting on a new labor contract on Thursday, setting up the potential for a crippling strike if staff members decide to reject the deal just as the plane maker is trying to ramp up its production. "I know the reaction to our tentative agreement with the IAM has been passionate," he wrote in his staff note. The union, which represents about 33,000 Boeing factory workers in the Seattle area and in Oregon had sought some 40% pay raises from Boeing. But the 25% increase would be in line with the United Auto Workers' deal last year that followed strikes at Ford , General Motors and Chrysler parent Stellantis. If approved, the Boeing deal would follow a series of union-negotiated pay increases across industries ranging from Hollywood to airlines.

Persons: Kelly Ortberg, Jon Holden Organizations: Boeing, International Association of Machinists, Aerospace Workers, IAM, United Auto Workers, Ford, General Motors, Chrysler Locations: Seattle, Renton , Washington, Everett , Washington, Ortberg, Oregon, Hollywood

☆ A pilot on the Alaska Airlines blowout flight said she didn't know there was a hole in the 737 Max until it landed — and feared passengers had died
▼ + stars: | 2024-09-12 | by ( Pete Syme | ) www.businessinsider.com time to read: +1 min

Emily Wiprud, the first officer on January's Alaska Airlines blowout flight, spoke to CBS News. Wiprud said she didn't know there was a hole in the plane until it landed. She said she thought people had died after being told there were "empty seats and injuries" on the plane. Go to newsletter preferences Thanks for signing up! AdvertisementOne of the pilots on the Alaska Airlines blowout flight told CBS News she believed passengers had died.

Persons: Emily Wiprud, Wiprud, —, Max Organizations: Alaska Airlines, CBS News, Service, Boeing, Business

☆ Boeing machinists vote today on contract
▼ + stars: | 2024-09-12 | 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 machinists vote today on contractCNBC’s Phil LeBeau joins 'Money Movers' with breaking details about the Boeing machinist vote on a labor deal.

Persons: Phil LeBeau Organizations: Boeing

☆ Why some Boeing employees aren't happy with a proposed 25% pay increase over 4 years
▼ + stars: | 2024-09-10 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +1 min

Boeing's new tentative labor contract offers a 25% increase to Seattle employees over four years. Some union members are unsatisfied with the new contract, which falls short of their ask: a 40% pay rise. Go to newsletter preferences Thanks for signing up! AdvertisementBoeing's new tentative labor contract, which includes a pay increase over four years, has been touted as another win for the beleaguered company. The company's tentative contract, proposed on Sunday, would increase its workers' general wages by 25% over the length of the four-year contract.

Persons: —, Jon Holden Organizations: Seattle, Employees, Service, Boeing, Reuters, Business Locations: IAM's, Seattle

☆ Boeing's uncrewed Starliner spacecraft touches down on Earth, capping months of drama in orbit
▼ + stars: | 2024-09-07 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Denise-Chow-Byline-Jm.Jpg | Denise Chow | ) www.nbcnews.com time to read: +3 min

After a summer of turmoil, Boeing’s Starliner spacecraft is finally home. The capsule undocked from the International Space Station without astronauts onboard on Friday at 6:04 p.m. Its smooth journey back suggests that the two NASA astronauts it carried to the space station could probably have flown home safely on the spacecraft. But the Starliner then remained parked at the space station for months as engineers on the ground assessed how to safely bring it back to Earth. Wilmore and Williams will remain on the space station into the new year then fly back in February on a SpaceX capsule.

Persons: Starliner, ” Joel Montalbano, NASA Starliner, Butch Wilmore, Suni Williams, Wilmore, Williams, you’ve, ” Williams, “, ”, Boeing’s Organizations: International, NASA, Boeing, SpaceX, Space Center Locations: New, China, Houston

☆ Boeing Starliner capsule returns home from space — without astronauts on board
▼ + stars: | 2024-09-06 | by ( Jackie Wattles | Ashley Strickland | ) edition.cnn.com time to read: +11 min

Relive the Boeing Starliner capsule’s return home as it happened. CNN —Boeing’s Starliner capsule returned from the International Space Station Friday evening — concluding its nearly three-month stay in space. This screengrab taken from a video shows Boeing Starliner as it touches down in White Sands Space Harbor, New Mexico, at 12:01 a.m. Boeing and NASA teams work around NASA's Boeing Crew Flight Test Starliner spacecraft after it landed uncrewed at White Sands, New Mexico, on September 7. NASA astronauts Mike Fincke, left, and Scott Tingle look inside NASA's Boeing Crew Flight Test Starliner spacecraft after it landed uncrewed at White Sands Missile Range’s Space Harbor, in New Mexico, on September 7.

Persons: CNN —, Butch Wilmore, Suni Williams, Starliner, —, “, ”, Williams, Calypso, ” Williams, you’ve, uncrewed, Aubrey Gemignani, Mark Nappi, Steve Stich, we’ve, ” Stich, we’d, ” Stitch, Butch, Suni, NASA Starliner’s, Wilmore, Stitch, Stich, Mike Fincke, Scott Tingle, NASA ‘, …, Ken Bowersox Organizations: Boeing, CNN, International, NASA, NASA's Boeing, SpaceX, White, Space Operations, Software Locations: Sands, , New Mexico, terra firma, Starliner, White Sands , New Mexico, New Mexico

"Our research infers that fliers are doing more research to understand and potentially avoid Boeing aircrafts," she said. "First of all, there are more discount carriers operating Airbus (A320s) than Boeing (737s) particularly in Asia," he said. watch nowThe study is a historical analysis of commercial flight safety, which does not predict how Boeing's issues may play out in the future. But Barnett indicated he's confident about the future of commercial aviation. Why avoiding Boeing is difficultThough competition among airlines is fierce, aircraft manufacturing has long been dominated by the United States' century-old Boeing company and its European competitor, Airbus.

Persons: Danielle Harvey, Brendan Sobie, Arnold Barnett, Barnett Organizations: Boeing, Alaska Airlines, Sobie Aviation, Massachusetts Institute of Technology, of Air Transport Management, MIT, U.S . Federal Aviation Agency, National Transportation Safety Board, European Union, New Zealand, United Arab Emirates, CNBC Travel, Airbus, Airlines, Max Locations: Asia, United States, Europe, Australia, Canada, China, Israel, Japan, New, Bahrain, Bosnia, Brazil, Brunei, Chile, Hong Kong, India, Jordan, Kuwait, Malaysia, Mexico, Philippines, Qatar, Singapore, South Africa, South Korea, Taiwan, Thailand, Turkey, Alaska

☆ NASA says astronauts stuck in space will not return on Boeing capsule, will wait for SpaceX craft
▼ + stars: | 2024-08-24 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Denise-Chow-Byline-Jm.Jpg | Denise Chow | ) www.nbcnews.com time to read: +2 min

NASA will call on SpaceX to bring home two astronauts who have been stuck on the International Space Station since early June after their Boeing spacecraft ran into several problems midflight, the agency said Saturday. While the agency has finally settled on how to bring the astronauts back, their return trip will not be immediate. Instead, Wilmore and Williams will remain at the space station for about six more months before flying home in February. NASA said it will free up two seats on an upcoming SpaceX launch, known as Crew-9, that will be taking a new rotation of space station crew members to the orbiting outpost. The beleaguered Starliner capsule, meanwhile, will journey back to Earth without a crew, likely sometime in early September, according to NASA.

Persons: Butch Wilmore, Suni Williams, Butch, Suni, Bill Nelson, Williams, Nelson, NASA’s Organizations: NASA, SpaceX, Space Station, Boeing, Spaceflight, Space, Wilmore, Space Center, NASA’s Kennedy Space Center Locations: Houston, Florida

The test flight was originally intended to last about nine days. The decision to bring Starliner back from the ISS empty marks a dramatic about-face for NASA and Boeing, as the organizations were previously adamant that the capsule was the primary choice for returning the crew. But Starliner's crew flight test, which had been seen as the final major milestone in the spacecraft's development, faced problems — most notably with its propulsion system. "Boeing has worked very hard with NASA to get the necessary data to make this decision," NASA Administrator Bill Nelson said during a press conference with top NASA officials at Johnson Space Center in Houston on Saturday. NASA will now conduct another phase of its Flight Readiness Review to determine when to bring the empty Starliner home.

Persons: Butch Wilmore, Suni Williams, Wilmore, Williams, Bill Nelson Organizations: NASA, International, Station, Boeing, ISS, SpaceX's, Johnson Space Center Locations: Starliner, Houston

☆ NASA picks SpaceX to bring home the American astronauts stuck in space. It's the latest blow to Boeing.
▼ + stars: | 2024-08-24 | by ( Lauren Edmonds | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

AdvertisementBoeing's Starliner spacecraft during NASA's Boeing Crew Flight Test in June. A test flight, by nature, is neither safe nor routine. So, the decision to keep Butch and Suni aboard the International Space Station, and bring the Boeing Starliner home un-crewed, is a result of a commitment to safety." Both Boeing and SpaceX have spent a decade working with NASA on their Starliner and Crew Dragon vehicles, respectively. AdvertisementAfter years of delays, technical issues, and rising costs, this Crew Flight Test was the last hurdle Boeing had to clear for NASA to certify Starliner for human spaceflight.

Persons: —, Bill Nelson, Suni Williams, Butch Wilmore, Williams, Wilmore, Nelson, Kelly Ortberg, Wiliams, Starliner —, Joe Raedle, Russ DeLoach, Butch, Suni, Elon, CHANDAN KHANNA, SpaceX would've, Elon Musk Organizations: Service, NASA, Johnson Space Center, Business, Boeing, SpaceX, NASA's Boeing, Space Shuttle Columbia, Ars Technica, Challenger, Columbia, NASA's, Safety, Mission Assurance, Soyuz, ISS Locations: Houston, Boca Chica , Texas

☆ NASA to Say if Boeing Starliner Astronauts Will Stay Longer on Space Station
▼ + stars: | 2024-08-24 | by ( Kenneth Chang | ) www.nytimes.com time to read: 1 min

On Saturday, NASA is scheduled to finally announce its decision for how two of its astronauts, who went to orbit in June on Starliner, a spacecraft built by Boeing, will come home from the International Space Station. Suni Williams and Butch Wilmore arrived at the space station on June 6. If everything during the mission had proceeded perfectly, Starliner would have been docked for just eight days. But this is a test flight for Starliner, the first with people aboard, and it was not a surprise that some problems might pop up. But problems with the Boeing spacecraft’s propulsion system turned out to be more than minor glitches.

Persons: Will, Suni Williams, Butch Wilmore Organizations: NASA, Boeing, International Space, Starliner Locations: Starliner

☆ Bank of England's Bailey: 'More restrictive policy' could still be needed due to labor market shocks
▼ + stars: | 2024-08-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Andrew Bailey, governor of the Bank of England, waits to deliver a lecture at the London School of Economics in London, UK, on Tuesday, May 21, 2024. Bank of England Governor Andrew Bailey will hail the progress made in dampening inflation in the U.K. in a Friday speech, but also caution that monetary policy may need to remain restrictive for longer than expected due to shocks from the labor market. Headline price rises in the U.K. hit the BOE's 2% target for two months this year, before rising to 2.2% in July. However, he will caution that two less "benign" scenarios remain possible that will require the Bank of England to "maintain restriction for longer." It comes after Federal Reserve Chair Jerome Powell on Friday gave his firmest comments yet indicating that interest rate cuts lie ahead for the world's biggest central bank, stating: "The time has come for policy to adjust."

Persons: Andrew Bailey, Bailey, Jerome Powell Organizations: Bank of England, London School of Economics, U.S, Bank of Locations: London, U.S . Federal, Jackson Hole , Wyoming, Bank of England

☆ UK inflation rose to 2.2% in July, after two months at the Bank of England's 2% target
▼ + stars: | 2024-08-14 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

U.K. inflation rose to 2.2% in July, coming in slightly below expectations but inching back above the Bank of England's 2% target, data from the Office for National Statistics showed Wednesday. The headline inflation had come in at 2% in both May and June, in line with the Bank of England's target rate. So-called core-CPI — which excludes food, energy, alcohol and tobacco prices — came in at 3.3% in July, down from the 3.5% print of July, the statistics office said. The data comes after the Bank of England earlier this month cut interest rates for the first time in over four years, taking the key bank rate to 5%. Uncertainty remains about when the central bank will cut rates again, and whether another cut will even take place this year.

Persons: BOE Organizations: Bank of England's, Office, National Statistics, Reuters, Bank of, Bank of England

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