Boeing Co. declared Kelly Ortberg as its new CEO. In a press release, it was announced that Ortberg will start his position on August 8 and will also be appointed to the company's board of directors. Ortberg formerly led Rockwell Collins, a division of the defense contractor RTX Corp, which was formerly known as Raytheon Technologies. Boeing's current CEO, David Calhoun, stated in March that...

According to the Financial Times, US company Meta has agreed to pay $1.4 billion to Texas authorities to resolve allegations that it improperly acquired biometric data from millions of individuals. Attorney General of Texas Ken Paxton claims that this is the biggest settlement payout for individual state litigation ever made in the history of the United States. Paxton said in a complaint filed...

According to Bloomberg, which cites sources, US-based Apple Inc. has postponed the release of its artificial intelligence (AI) platform Apple Intelligence on its smartphones and now intends to do so by October. Apple Intelligence was anticipated to be present on smartphones and tablets before the September release of the iOS 18 and iPadOS 18 operating systems. The platform's introduction has...

Eni, an Italian corporation, hopes to generate 3 million tons of LNG annually from its Congo project by the end of 2025, according to the company’s CEO Claudio Descalzi during a conference call with investors. When discussing the likelihood of Egypt becoming a gas exporter again rather than an importer, Eni's managing director for natural resources, Guido Brusco, pointed out that Egypt has placed...

Over 70 million smartphones were shipped into China in the second quarter, a 10% rise over the same period the previous year. U.S. Apple Inc. dropped out of the top 5 suppliers, shows data from analytics firm Canalys. According to Canalys analyst Lucas Zhong, local businesses hold the top five positions on the list of the biggest smartphone suppliers in the PRC for the first time ever. The Vivo...

The largest initial public offering (IPO) of the year was $4.4 billion, held by U.S. real estate investment trust Lineage Inc., which is the largest owner of temperature-controlled industrial properties worldwide. According to Market Watch, shares were offered for sale between $70 and $82, and they were sold for $78. In the end, 56.9 million shares were sold by Lineage, which had initially...

According to the Financial Times, the European Commission may thwart International Consolidated Airlines Group S.A.'s (IAG) acquisition of the Spanish airline Air Europa. The corporations haven't done enough, according to the newspaper's sources, to allay the European Commission's worries about the deal's potential to reduce competition in the European market. The FT's sources say that EC...

The Financial Times reports, citing the company's annual report, that the British Broadcasting Corporation (BBC) intends to fire roughly 500 workers as part of a cost-cutting initiative. The BBC receives funds from the necessary annual charge of 169.5 pounds ($219) paid by every British citizen with a TV set at home. The annual report indicates that at the end of the previous year, there were...

The Swiss business Nestle Waters has been illicitly filtering tainted water and marketing it as "natural mineral water" since the 1990s, writes the French online site Mediapart. According to experts, the company's actions over the last 15 years have created damage worth €3 billion. The corporation’s representative expressed their disagreement with both the numbers and the computation process. A...