In 2022, Boeing invested in $450 million with Wisk, a company working on a flying car. The next year, it fully absorbed Wisk. By 2030, it hopes to have Wisk’s autonomous flying taxis operating in Asia. Boeing Chief Technology Officer Todd Citron revealed the plans to Nikkei, the Japanese news publication. Citron did not tell Nikkei where exactly in Asia that Boeing hopes to send the taxis. Nor did he say whether Boeing’s Wisk would operate a taxi service directly or sell its aircraft to...
Exactly a year after 6,600 bars of 99.99-percent pure gold were reported missing at Toronto Pearson International Airport, Peel Regional Police has announced multiple arrests in connection with the brazen heist seemingly ripped straight from the silver screen. Law enforcement claims two Air Canada employees were involved in the $15 million gold theft. Despite the charges levied, only $65,000 in gold has been recovered. In April 2023, a flight from Zurich, Switzerland, landed at Pearson Airport...
U.S. auto safety regulators have advanced their probe into almost 3 million Honda Motor Co. sedans and SUVs after receiving thousands of consumer complaints over unexpectedly activating automatic emergency brakes. The National Highway Traffic Safety Administration (NHTSA) said it has received 1,294 consumer complaints over emergency brakes in Honda vehicles activating without apparent cause, “resulting in sudden vehicle deceleration.” The regulator said it has received 1,294 consumer...
United Airlines said Tuesday that it lost $124 million in the first quarter, which it blamed on a three-week grounding of all Boeing 737 Max 9s after a panel blew off an Alaska Airlines Max jetliner in January. United indicated it would receive far fewer new planes from Boeing this year than it expected, and it has begun leasing Airbus jets to fill out its fleet. Financial results released by the airline pointed to continued strength in demand for air travel, especially within the United...
Johnson & Johnson’s recent investments in medical devices helped boost sales, but the company’s total revenue in the first quarter of the year failed to beat Wall Street expectations. Its stock fell 2%to about $144 on Tuesday, following the healthcare giant’s recent quarterly earnings report. The company’s medical device segment experienced the biggest growth in the company during the three months ending March 31, up 4.5% year-over-year to $7.8 billion. Johnson & Johnson said the growth was...
UnitedHealth Group, the largest health insurance company in the U.S., was the top performer in S&P 500 Tuesday morning after it reported higher-than expected revenue amid the fallout of a massive cyberattack earlier this year. UnitedHealth stock rose 6% to about $471 on Tuesday, following the insurer’s first quarterly earnings report since hackers targeted is subsidiary Change Healthcare. Change is a healthcare record and payment manager that processes 14 billion transactions a year. “The...
UnitedHealth Group trounced first-quarter expectations even as costs from a cyberattack to its Change Healthcare business ate into the company’s performance. The health care giant also Tuesday that care patterns in the year’s first quarter met its expectations after soaring medical costs at the end of last year surprised Wall Street. Company shares jumped in early-morning trading. UnitedHealth said earlier this year that a ransomware group had gained access to some of the systems of its...
NEW YORK (AP) — Goldman Sachs said it saw a double digit rise in its first quarter profits on Monday, lifted broadly by the stock and bond markets' performances in the first months of the year. The strong quarter comes after Goldman struggled most of 2023 as higher interest rates put a pause on companies doing deals and mergers. But as executives have adjusted to the new normal and interest rates appear to be heading lower, Goldman has benefitted from the change in attitude. The New...
American plane maker Boeing is in hot water right now after a series of high-profile issues involving its aircraft. In the past few months alone, planes have lost landing gears, door panels and, just this week, a Boeing plane was forced to land after an engine cover came off. Now, the company is facing allegations that it ignored safety concerns in its production process. The Federal Aviation Administration has launched an investigation into claims that Boeing “dismissed safety and quality...
99 Cents Only Stores says it’s shutting down its business after it could not find a solution that would allow it to continue operating. “Unfortunately, the last several years have presented significant and lasting challenges in the retail environment,” Mike Simoncic, the interim CEO of 99 Cents Only Stores, said in a statement Thursday. Simoncic is also stepping down. Simoncic said the decision was due to various factors including the COVID-19 pandemic, shifting consumer demand, and...