Boeing’s CEO says a large number of employees will be furloughed to conserve cash during factory workers’ strike Source link
Boeing’s CEO said Wednesday that the company will begin furloughing “a large number” of employees to conserve cash during the strike by union machinists that began last week. Chief Executive Kelly Ortberg said the layoffs would be temporary and affect executives, managers and other employees. About 33,000 Boeing factory workers in the Pacific Northwest began … Read more
TORONTO — Rogers Communications is buying out Bell’s 37.5% share of Maple Leaf Sports & Entertainment for $4.7 billion ($3.5 billion U.S.), giving it 75% ownership of the sports conglomerate. Rogers and Bell had held equal shares of MLSE, which owns the NHL’s Maple Leafs, the NBA’s Raptors, the CFL’s Argonauts, the MLS Toronto soccer … Read more
LONDON — The Bank of England is widely expected to keep interest rates unchanged on Thursday, a day after official figures showed inflation in the U.K. holding steady at an annual rate of 2.2% in August, with higher airfares offset by lower fuel costs and restaurant and hotel bills. Central banks around the world dramatically … Read more
TAIPEI, Taiwan — Multiple explosions occurred Wednesday at the site of a funeral for three Hezbollah members and a child killed by exploding pagers the day before, according to Associated Press journalists at the scene. Hezbollah’s Al Manar TV reported explosions in multiple areas of Lebanon, which it said were the result of walkie-talkies detonating. … Read more
SEATTLE — Alaska Airlines closed its $1 billion purchase of Hawaiian Airlines on Wednesday, a day after the federal government removed the last major regulatory obstacle to the deal. Alaska will also assume about $900 million in Hawaiian debt. Alaska says it will keep Hawaiian as a separate brand, elimiinating the need to repaint planes. … Read more
ROCHESTER, N.Y. — The National Toy Hall of Fame is floating the idea of inducting balloons. Praised for their versatility and universal appeal, balloons made the list Wednesday of 12 finalists being considered for the honor later this year, alongside other first-time contenders including the trampoline and the party game Apples to Apples. A panel … Read more
LONDON — Qualcomm lost its bid on Wednesday to get a European Union antitrust penalty thrown out after a top court largely rebuffed the technology company’s arguments in the case involving cellphone chipsets. The European Union’s General Court said it was rejecting most of Qualcomm’s appeal against the 242 million euro ($269 million) fine that … Read more
Tupperware Brands, the company that revolutionized food storage decades ago, has filed for Chapter 11 bankruptcy protection. The company plans to continue operating and will seek court approval for a sale, it said just before midnight on Tuesday. The company is seeking bankruptcy protection amid growing struggles to revitalize its business. Tupperware sales growth improved … Read more
LONDON — Google won a court challenge on Wednesday against a 1.49 billion euro ($1.66 billion) European Union antitrust fine imposed five years ago that targeted its online advertising business. The EU’s General Court said it was throwing out the 2019 penalty imposed by the European Commission, which is the 27-nation bloc’s top antitrust enforcer. … Read more