US aviation giant Boeing has once again improved the conditions in its contract offer to thousands of striking workers, hoping to put an end to a painful strike that has paralyzed its two main factories for seven weeks. The International Association of Machinists and Aerospace Workers District 751, the union which represents more than 33,000…
Boeing is looking to raise up to approximately $19 billion in a stock offering as the aerospace giant, which is dealing with a contentious strike, faces liquidity issues and tries to raise cash. Boeing Co. said Monday that it will offer 90 million in common stock and $5 billion in depositary shares. The company’s stock…
Good morning. Two tech billionaires started this week with egg on their face, and for once, it had nothing to do with a live product demo.Amazon founder Jeff Bezos and NantHealth founder Patrick Soon-Shiong blocked, each at the eleventh hour, the U.S. presidential endorsements of Kamala Harris by the editorial boards of their newspapers, the…
(Bloomberg) — Boeing Co. is planning to launch a capital raise as early as Monday, according to people familiar with the matter, in an offering that would help the beleaguered airplane maker boost its liquidity. Most Read from Bloomberg The company is set to raise more than $15 billion from the fundraising, one of the…
The union representing workers on strike against troubled aerospace firm Boeing (BA) on Thursday reminded its members that they need to stick together in order to get what they want. Sixty-four percent of workers represented by International Association of Machinists and Aerospace Workers (IAM) local 751 on Wednesday voted against Boeing’s latest deal, which offered…
Since going on strike last month, Boeing factory workers have repeated one theme from their picket lines: They want their pensions back. Boeing froze its traditional pension plan as part of concessions that union members narrowly voted to make a decade ago in exchange for keeping production of the company’s airline planes in the Seattle…
Good morning! It’s Thursday, October 24, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. Tesla Had A Very Interesting Week 1st Gear: Tesla Posts Wildly Good Q3 Results We may all have…
Boeing machinists on Wednesday voted to reject a new labor contract proposal and continue a costly weekslong strike that halted production of some of the embattled company’s top-selling planes, resulting in furloughs and layoff announcements for thousands of workers. The International Association of Machinists and Aerospace Workers announced on social media that 64% of members voted…
In This Story The Dow Jones Industrial Average and other major indexes opened lower on Wednesday as the yield on the benchmark 10-year U.S. Treasury note continued its upward climb, reaching 4.23%—a level not seen since July. However, there was some relief for investors as oil prices eased, with West Texas Intermediate (WTI) futures trading…
Investors are bracing for another jam-packed day of earnings results. Tesla (TSLA) is set to kick off “Magnificent Seven” earnings after the closing bell. Wall Street is digesting the latest earrings from Boeing (BA) as its striking workers head into a critical vote on a tentative labor agreement. Coca-Cola (KO) is also out with its…