(Bloomberg) -- Boeing Co. expects several thousand workers to retire or accept a buyout offer as the planemaker races to shrink its operations amid a historic unraveling of global travel from the coronavirus pandemic, said a person familiar with the company’s plans.The manufacturer will start by offering the exit package in the U.S., while selectively hiring for critical programs such as defense and space, said the person, who asked not to be named because the discussions are confidential. Boeing is also weighing a production cut for wide-body jets as demand falls, although no changes have been made as yet, the person said.Chief Executive Officer Dave Calhoun is walking a fine line by downsizing at a time when Boeing is considering whether to tap billions of dollars in federal aid to bolster cash reserves. Layoffs would give the planemaker more control over how it lowers the cost of its 161,000-strong workforce, but...
Oil prices fell on Friday, coming off their biggest one-day gains in the previous session after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production. U.S. West Texas Intermediate (WTI) crude futures fell 5.2%, or $1.32, to $23.98 a barrel, after having surged 24.7% on Thursday. Trump told reporters at the White House late on Thursday he had made no offer to cut U.S. output....
Volatility is king right now, as investors of security software specialist BlackBerry can attest (BB). The Canadian company has enjoyed a wild ride recently, although ostensibly in the wrong direction. The stock is down by 45% year-to-date.Over a third of that was actually shed in today’s session. The stock is now firmly in penny stock territory, a far cry from the days when Blackberry phones were all the rage and the share price peaked at $147.55 - all the way back in June 2008. Since then the business has completely changed and BlackBerry now generates almost all its revenue from software and services sales.So, why the latest drop, you ask? Simple: BlackBerry disappointed with its latest quarterly statement. Having recently bounced off a new multi-year low, investors were hoping the F4Q20 results could seal a turnaround in fortunes, but it appears the print has had the opposite effect.So where is the...
(Bloomberg) -- Oil slipped below $25 a barrel following a record surge as doubts crept in over U.S. President Donald Trump’s claim he had brokered a deal that would see deep supply cuts from Saudi Arabia and Russia.Futures advanced almost 25% in New York on Thursday after Trump tweeted that he expected the two leading producers to slash output by 10 million barrels or more. However, the Kremlin later said that President Vladimir Putin had not spoken to his Saudi counterpart and hasn’t agreed to reduce production. Citigroup Inc. said any deal was too little, too late.See also: Trump’s Push for Huge Deal to Cut Oil Supply Draws DisbeliefWhile futures spiked, the outlook for the physical market remains bleak as discounts for some grades of physically delivered oil across the U.S. and Canada widened. Heavy Louisiana Sweet crude lost $1.75 a barrel relative to West Texas Intermediate to a record $10.50...
Now is when the fleet industry should be proactively identifying these future technicians. The fleet industry has a window to tap into this idled labor pool, who will look attractive to other industries experiencing labor shortages leading to increased competition to recruit this talent ...
With a core online retail business encompassing grocery to consumer electronics and everything in between, and an exemplary logistics infrastructure with the ability to meet consumers’ requirements for theses stay-at-home times, online giant Amazon (AMZN) is well set up to weather the COVID-19 storm. The market has reflected this notion, too, and amazon stock has held up relatively well, year-to-date in the green.But there is an additional growth driver not mentioned quite as often. Aegis Capital’s Victor Anthony believes Amazon Web Services’ (AWS) growth is the reason why the company “is one of the best investments for the next five years.”The 5-star analyst maintains a Buy rating on Amazon shares along with a $2,525 price target, which implies nearly 30% upside from current levels. (To watch Anthony’s track record, click here)The data speaks for itself, says Anthony. According to cloud costs managing company Vangal, AWS should see revenue grow between 37%...
NATSO and the American Trucking Associations are calling on state and local governments to carefully define social distancing guidelines regarding truckstops and travel plazas. ...
