The president of UAE-based airline Emirates is warning that Boeing’s manufacturing processes have declined and that the company needs a course correction following a 737 Max 9’s loss of a door plug panel and the aircraft’s subsequent grounding for inspections. Tim Clark, who has served as the president of Emirates since 2003, told the Financial Times that Boeing’s manufacturing quality has been in "progressive decline" and that has landed the aviation giant in "the last chance saloon." He added that Emirate ...

McDonald's sales took a hit in the latest quarter due to the ongoing turmoil in the Middle East. It primarily impacted the international development licensed markets and segment whose same store sales increased a slim 0.7%. This small uptick reflected "the impact of the war in the Middle East," the company said, adding that it's "monitoring the evolving situation" but anticipates that there will be a continued negative impact on systemwide sales and revenue as long as the war continues. Ticker Security Last ...

Boeing is reworking 50 undelivered 737 MAX jets after a supplier's employee located misdrilled holes in some fuselages, marking the latest production concern for the airplane manufacturer. Spirit AeroSystems, which has faced scrutiny for other quality issues impacting 737s, supplied the fuselages.The issue could delay some deliveries in the near future while existing 737s can keep flying, according to Boeing. "This is the only course of action given our commitment to deliver perfect airplanes every time," B ...

Jeff Bezos plans to sell a large amount of Amazon shares in the next year, a filing with the Securities and Exchange Commission (SEC) indicated. Amazon, where Bezos currently serves as executive chair, said in the Friday filing that its billionaire founder had a trading plan for selling a maximum of 50 million shares. Under the prearranged plan that he adopted in November, the sales will occur "over a period" ending Jan. 25 of next year "subject to certain conditions."  FOX Business reached out to Amazon fo ...

Ford Motor Co.'s electric vehicle sales slumped last month as consumer demand for EVs continued to wane, but the automaker still saw higher total vehicle sales, thanks in part to a surge in its hybrid models. Ford reported it sold 4,674 EVs in January, a 10.9% drop from the 5,247 the company sold the same month a year ago. For comparison, in January 2023, Ford reported it sold over 7,800 EVs the month before – a 223% spike from the prior year. Ticker Security Last Change Change % F FORD MOTOR CO. 12.14 +0.0 ...

Apple on Thursday reported sales and profit that beat Wall Street estimates, powered by growth in its iPhone business. But China sales missed analysts' targets. Apple shares were down 1.7% in after-hours trading.The 2% rise in overall fiscal first-quarter sales for the company ended four straight quarters of sales declines on the strength of its iPhone 15 lineup, which includes devices capable of capturing three-dimensional video for the Vision Pro headset being released this week. Apple's total installed b ...

Tesla will hold a shareholder vote to transfer its state of incorporation to Texas, CEO Elon Musk announced after a Delaware judge voided his $56 billion pay package. On Tuesday, Delaware judge Kathaleen McCormick sided with Tesla investors who had challenged the 2018 share-based pay package, ruling that the "unfathomable sum" was unfair to shareholders and negotiated by directors who appeared beholden to Musk."Never incorporate your company in the state of Delaware," Musk posted on X, formerly Twitter, aft ...

Ford Motor Company unveiled the new 2025 Ford Explorer on Thursday, which will be the first vehicle to feature the Ford Digital Experience, which is designed to increase connectivity for customers. "From the beginning, the Explorer is this distinctly American product," Ford general manager of family vehicles Jeff Marentic told FOX Business. "It’s America’s all-time best-selling SUV with more than 8 million units sold and close to 3.5 million still in operation, which is a big statement."He explained that th ...

For Google and other tech titans, the rise of artificial intelligence remains a big focus for investors as the emerging technology reshapes the tech landscape, transforming the business of search, cloud and advertising, but it also comes with a cost.  Shares of Google parent Alphabet fell more than 7% on Wednesday, a day after the company reported quarterly results. Despite beating expectations on many key metrics, the company said capital spending will jump in 2024 as it continues to invest in AI to improv ...

Boeing President and CEO Dave Calhoun acknowledged Wednesday the company has "much to prove" as it works to regain trust after a door plug panel flew off one of its 737 Max 9 aircraft midflight earlier this month. In a letter to employees released alongside the company's year-end 2023 results, Calhoun said he remains focused on the incident that occurred on an Alaska Airlines flight and how Boeing can strengthen its quality controls. "Over the last several weeks I’ve spoken to many of you, and I’ve had toug ...