June, 2022

• 13 June

  Trump’s Air Force One deal pains the Pentagon, not just Boeing

  

  Bloomberg The fixed-price contract for the new Air Force One that Donald Trump talked Boeing Co. into signing hasn’t just caused the $1.5 billion in cumulative losses so far that the company’s CEO has lamented. It has also created headaches for the Air Force. Under a fixed-price agreement, a company’s incentive is to “finish and minimise costs” while the Pentagon …

  Read More »
• 13 June

  Judge backs Home Depot’s ban on staff wearing BLM

  

  Bloomberg A complaint by US labour board prosecutors against Home Depot Inc — for allegedly interfering with workers’ rights to protest against racial harassment — should be dismissed, an agency judge ruled. The US National Labour Relations Board’s (NLRB) general counsel alleged that the company violated federal labour law by preventing staff from displaying the message “Black Lives Matter” (BLM) …

  Read More »
• 13 June

  United Airlines jet looks worse for wear on paint shop back-up

  

    Bloomberg Airlines are racing to bring parked planes back into service now that post-pandemic travel demand is picking up. But some of those jets are looking a little rough around the edges. Eagle-eyed observers say some aircraft due for a routine grooming at United Airlines Holdings Inc. didn’t get fresh coats before being brought back into its active fleet. …

  Read More »
• 13 June

  Airlines get relief from Covid rule, but may not be ready for it

  

    Bloomberg Airlines have been petitioning for months to ease a pandemic-era restriction on arrivals from abroad. Now that the White House has lifted mandatory Covid testing for inbound passengers, the industry may rue having its collective wish granted just ahead of the busiest time of year for travel. Travellers by air will join those at land ports of entry …

  Read More »
• 13 June

  Revlon plunges by record 53 percent

    Bloomberg Revlon Inc plunged 53%, the biggest one-day drop on record, after distressed debt news outlet Reorg reported that the cosmetics empire is preparing to file for the bankruptcy. The company, controlled by billionaire Ronald Perelman, could file as soon as next week, Reorg said, citing unnamed sources. Revlon shares triggered the multiple trading halts because of the volatility, …

  Read More »
• 12 June

  Apple plans to expand line-up of laptops in 2023

  

    Bloomberg Apple Inc plans to expand the line-up of laptops using its new, speedier in-house chips next year, aiming to grab a bigger share of the marke. The company is working on a larger MacBook Air with a 15-inch screen for release as early as next spring, said the people, who asked not to be identified because the plans …

  Read More »
• 12 June

  Google hit with UK probe into suspected competition breaches

    Bloomberg The UK’s antitrust watchdog launched an investigation into the Google Play app store over suspected anticompetitive conduct, alongside a sweeping study taking aim at Alphabet Inc and Apple Inc’s “strong grip” over mobile technologies. Marking the latest broadside against Silicon Valley from an increasingly interventionist UK regulator, the Competition and Markets Authority (CMA) will probe suspected breaches of …

  Read More »
• 12 June

  Ferrari to expand Italian factory for electric vehicles

  

    Bloomberg Ferrari plans to significantly expand its factory in northern Italy as part of the electrification strategy it will unveil during a highly anticipated briefing next week. The supercar manufacturer has snapped up space near its Maranello plant and started clearing way for a third production line that will be dedicated to making hybrid and electric vehicles. The expansion …

  Read More »
• 12 June

  Meta halts development of smartwatch

    Bloomberg Facebook parent company Meta Platforms Inc has halted development of a smartwatch with dual cameras and is instead working on other devices for the wrist, according to a person with knowledge of the matter. The device, which has been in development for at least two years, was designed to include several features common in other smartwatches, including activity …

  Read More »
• 11 June

  US’ solar-panel makers scorn ‘pittance’ of aid in Biden plan

  

    Bloomberg President Joe Biden’s plan to kick-start domestic solar-panel manufacturing depends for now on a federal fund with less than a half billion dollars that’s already being tapped to pay for products including military drones and baby formula. That funding—even if fully dedicated to solar production—would only be enough to open a few factories capable of cranking out a …

  Read More »