Category: Business
Boeing has appointed Kelly Ortberg, the former CEO of Rockwell Collins, as its new CEO, expressing eagerness to begin the work ahead.
Keywords: Boeing, CEO, Kelly Ortberg
Source: Business Insider
Update At: 7/31/2024
Costco is increasing its annual fee for members by more than 8 percent in the United States and Canada, the first increase in seven years. The fee for customers who shop at Costco Wholesale stores will increase by $5 to $65 annually for the basic Gold Star Membership and by $10 to $130 annually for customers with the Executive Membership.
The New York Times
Citi's second-quarter earnings signal positive results from CEO Jane Fraser's overhaul, with revenue up 4% to $20.1 billion and net income of $3.2 billion. The bank's reorganization led to a 2% decrease in operating expenses. Citi's stock has climbed 24% this year following the restructuring.
Quartz
Redbox, a 22-year-old DVD kiosk rental business, is shutting down after its parent company, Chicken Soup for the Soul Entertainment, converted its bankruptcy to Chapter 7 liquidation. The company's 1,000 employees are losing their jobs with no severance or extended benefits.
Kiosk Marketplace
Redbox, the video-rental and streaming company, owned by Chicken Soup for the Soul Entertainment, has filed for Chapter 11 bankruptcy protection and is now converting to a Chapter 7 liquidation proceeding. This will result in the closure of approximately 24,000 DVD rental kiosks and the layoff of about 1,000 employees.
pennlive.com
Big Lots plans to close 35 to 40 stores in 2024 due to economic challenges, including inflation affecting customer buying power. The company reported a decline in sales and an increase in debt, raising concerns about its future operations.
AZCentral.com
Big Lots is closing upwards of 40 stores due to macroeconomic challenges, resulting in a loss of about $114.5 million. The locations of the stores to be closed remain unknown.
Boston.com
Netflix is expected to announce strong quarterly earnings with anticipated revenue and subscriber growth, high operating margins, and positive stock performance. Analysts are optimistic about the company's future despite potential challenges like a crackdown on password sharing and the need to sustain growth. Netflix's move into live sports and advertising, along with its strategy to appeal to a wide audience, are key factors driving its success.
Fortune
Assault on US avocado inspectors in Michoacán led to a temporary halt in avocado imports, highlighting the volatile nature of the industry in the region. The incident raised concerns about corruption, violence, and cartel influence in the avocado trade between the US and Mexico.
CNN
Shares in Trump Media & Technology Group Corp surged in premarket trading following an assassination attempt on former U.S. President Donald Trump. The incident occurred during a rally in Pennsylvania, resulting in injuries to Trump and attendees. The shooter, identified as Thomas Matthew Crooks, prompted calls for an investigation into rally security.
Investing.com
Delta Air Lines implements a new uniform policy allowing only U.S. flags after a social media post featuring flight attendants wearing Palestinian flag pins caused controversy. The airline faced backlash and subsequently apologized for the incident.
Fox Business