Close on wednesday. The stock has soared more than 90 this year alone this off the back of enthusiasm that al will boost corporate profit. The question is will als big spenders, the likes the question is will als big spenders, the likes of amazon, microsoft continue to place orders and drive sales and Profit Growth . Or is that trajectory beginning to ease . Wall street is betting the chipmaker will exceed expectations. In other news, Pixar Animation Studios known for producing classic films like toy story, is laying off roughly 14 of its workforce. This is part of broader restructuring by Parent Company walt disney, and reflects a move away from the production of original content for the disney plus streaming service. Instead, pixarwill refocus on feature films. These layoffs follow similar cuts made injune last year. To another big story we have been covering newsday. A Singapore Airlines flight was hit with severe turbulence causing the death of one passenger and injuries to several
This comes, of course, after an incident injanuary this year, when an unused door blew out soon after take off on an Alaska Airlines 737 max, sparking multiple investigations into boeings safety culture. Boeing ceo, dave calhoun, who took over in 2019, after the previous boss was fired, has announced hes leaving at the end of the year. But who will take on the role, now described by some as the toughestjob in Corporate America . Some shareholders want to see a new face from outside the firm. And there is another bone of Contention Boeing Has disclosed mr calhoun was awarded a pay deal of almost 33 Million Dollars this year up 45 on last year. Thats despite a steep fall in the share price. He may not get the full amount of share options, though, if he does step down at the end of the year. To talk us through what could be a tense meeting, lets speak to barry valentine. He has a0 Years Experience in the aviation industry, and has served with the us federal Aviation Administration. He now
Speaking at a news conference, the White House Press secretary, karine jean pierre, said more was needed to be done. So this level of aid remains insufficient, and we want to continue to press israel to increase the level of assistance moving into gaza. We understand what ijust laid out is not sufficient. We want to get more in. We are continuing to have those conversations with israel, and we have seen some progress. We need to get more in. On thursday, us troops anchored a long awaited Floating Pier which will soon enable aid to enter gaza by sea. Hundreds of tons of aid has arrived in cyprus, where screening takes place before being loaded on to ships for delivery to the pier. But the pentagon stressed this would not be enough to meet the needs of people in gaza. The purpose of this temporary pier is to deliver critical humanitarian assistance to the palestinian people. The pier is temporary, and not meant to replace land routes into gaza. And last, this is an internationally backed
From new york, heres the bbc s north America Business correspondent, michelle fleury. Stubborn inflation pushes back the timing of the first rate cut. The Us Federal Reserve voted to keep its Benchmark Lending Rate at a 23 year high on wednesday. Officials have said they want more certainty that inflation is under control before they Lower Borrowing costs. They do not have that yet. Here is chair, jerome powell, during his press conference. The economy has made considerable progress towards our dual mandate objectives. Inflation has eased substantially over the past year, while the Labour Market has remained strong. And that is very good news. But inflation is still too high, further progress in bringing it down is not assured and the path forward is uncertain. We are fully committed to returning inflation to our 2 goal. While the prices of many goods have fallen, from cars to furniture, an increase in housing and Petrol Prices have contributed to a recent rise in consumer inflation. W
Here is chair, jerome powell, during his press conference. The economy has made considerable progress toward our dual mandate objectives. Inflation has eased substantially over the past year, while the Labour Market has remained strong. And that is very good news. But inflation is still too high, further progress in bringing it down is not assured and the path forward is uncertain. We are fully committed to returning inflation to our 2 goal. While the prices of many goods have fallen, from cars to furniture, an increase in housing and Petrol Prices have contributed to a recent rise in consumer inflation. With progress on inflation taking longer than expected, hopes for lower rates have dimmed. One scenario that could change that calculation . Chair powell said if the Labour Market unexpectedly weakened, that could spur rate cuts. And sweetening the mood on wall street, the Dowjones Industrial Average closed higher, after the fed chair implied that the Central Banks next move was unlike