Boeing CEO Kelly Ortberg said Wednesday that "trust in our company has eroded" and laid out a plan for the aerospace giant to regain a leadership position in the industry while addressing its financial challenges. Ortberg, who was appointed as Boeing's CEO in late July, faces an ongoing strike by Boeing machinists that has impacted production along with a loss of confidence stemming from a series of incidents like the midair blowout of a 737 Max 9 door panel in January. The company's balance sheet is also i ...

Walmart announced on Tuesday that it will deliver prescription drugs from stores directly to customers as it competes with rivals like Amazon. The Arkansas-based retailer is joining a list of companies including Amazon, CVS and Walgreens that have embraced the trend of delivering prescriptions directly to consumers that have become more reliant on e-commerce. Walmart's service applies to both new prescriptions along with medication refills, according to the retailer. All medication – barring some exceptions ...

Target is slashing prices on 2,000 items this holiday season to gain an edge over competitors during this critical shopping period. This marks its second round of price cuts, following a successful summer effort that boosted sales despite cautious consumer spending. On Tuesday, the Minneapolis-based retailer said it will cut prices on its in-house and national brands, including food and beverages, everyday essentials, holiday gifts and items to prep the home for the holidays.The lower prices have already st ...

The ongoing strike by Boeing's union machinists could end this week, but not before racking up more economic damage than any other work stoppage in the U.S. so far this year, according to estimates. Boeing and the union, the International Association of Machinists and Aerospace Workers Local 751, reached a tentative agreement Saturday. The striking workers will vote Wednesday on whether to take the latest offer, which includes a 35% pay hike over four years, a new incentive plan and a $7,000 ratification bo ...

Core Insights - The fast food industry, particularly McDonald's, is experiencing wage increases influenced by federal and state minimum wage laws, with some workers earning up to $20 per hour [1][2] - McDonald's has implemented a phased wage increase for its company-owned restaurants, aiming for an average hourly wage of $15 by 2024 [2] - Recent legislation in California has raised the minimum wage for certain fast food restaurants to $20, reflecting a broader trend towards higher wages in the industry [3] Wage Structure - The average hourly pay for McDonald's jobs nationwide is approximately $13.27, with variations based on location, job title, and experience [1] - In 2021, McDonald's increased wages for its owned restaurants by an average of 10%, setting entry-level crew wages between $11 and $17 per hour, and shift managers between $15 and $20 per hour [2] - Franchisees, which operate over 95% of McDonald's locations, have the autonomy to set their own wages, leading to some franchisees in New York exceeding the $15 minimum wage [2] Legislative Impact - California's new law, effective April 1, raised the minimum wage for certain fast food restaurants from $16 to $20, equating to an annual salary of $41,600 [3] - The legislation aims to improve wages, working conditions, and training for fast food workers, as stated by California Governor Gavin Newsom [3]

Workers at seven CVS pharmacies in Southern California are now on strike, as they demand better pay and health care and to call out what they describe as the company engaging in bad-faith contract bargaining. The strike began Friday and continued through the weekend, affecting four stores in Los Angeles and three others in Orange County. Striking workers outside a Los Angeles location told customers on Saturday not to cross the picket lines, according to The Associated Press.Melissa Acosta, a pharmacy techn ...

BlackRock flexed its muscles this week, reminding investors why it is the world’s largest asset manager with a new record $11.5 trillion under management.  It’s exchange-traded and mutual funds saw a record $221 billion of inflows in the third quarter across multiple products, active, index and regions. Ticker Security Last Change Change % BLK BLACKROCK INC. 1,007.02 +4.52 +0.45% "In my conversations with clients and policymakers around the world, I hear how more and more countries recognize the power of ...

Major U.S. grocers are going head-to-head, offering similar discounted Thanksgiving meal baskets to lure in cost-conscious customers who are squeezed by high prices.  Although overall inflation has fallen significantly, inching closer to the Federal Reserve's intended 2% target, prices for some food items remain up by double-digits. Primerica's latest Financial Security Monitor survey polled households making between $30,000 and $130,000 annually and discovered that 40% of respondents cited inflation as the ...

The National Highway Traffic Safety Administration (NHTSA) on Friday said it is investigating 2.4 million Tesla vehicles with the Full Self-Driving (FSD) software after four collisions were reported, including a fatal crash. The auto safety regulator opened the preliminary evaluation after receiving four reports of crashes in which Tesla's FSD software was engaged at times when there was reduced roadway visibility – such as sun glare, fog or airborne dust.The NHTSA said that in one crash "the Tesla vehicle ...

Spirit AeroSystems will tell employees on Friday that it will furlough 700 workers for 21 days as an over month-long strike at U.S. planemaker Boeing eats into the supplier's cash and inventory space, a spokesperson told Reuters. The furloughs will affect Spirit Aero employees working on Boeing's 767 and 777 widebody jet programs. Production of those jets was halted during the strike by more than 33,000 U.S. West Coast factory workers since Sept. 13.The furloughs follow other Spirit efforts to cut costs, in ...