Boeing’s safety culture and manufacturing quality, both at the center of a full-blown crisis following a January mid-air panel blowout, faced scrutiny on Wednesday in two Senate hearings.Boeing has been grappling with a safety crisis after the door plug panel blew off an Alaska Airlines flight that took off from Portland, Oregon, on Jan. 5. The planemaker has undergone a management shakeup, US regulators have put curbs on its production, and deliveries fell by half in March.Testimony at the Senate Permanent ...

Google has laid off employees in what is being described as a “pretty large-scale” restructuring in which the tech giant is moving some jobs overseas.Ruth Porat, Google’s chief financial officer, sent an email to employees announcing that the company would create “growth hubs” in India, Mexico and Ireland.The unspecified number of layoffs will affect teams in the company’s finance department, including its treasury, business services and revenue cash operations units, according to Business Insider.Google ha ...

Several Google employees were arrested and placed on administrative leave late Tuesday after staging 10-hour sit-ins at offices in New York and Sunnyvale, California to protest the company’s $1.2 billion cloud contract with Israel.The pro-Palestinian employees, who are affiliated with a group called “No Tech For Apartheid,” posted several videos and live-streams of the protests — including the moment they were issued final warnings and arrested by local police for trespassing. A third protest took place in ...

Tesla asked its investors to vote again on chief executive Elon Musk’s $56 billion pay package — a deal approved by shareholders in 2018, but which was voided by a Delaware court earlier this year.In a proxy filing Wednesday, the electric-vehicle giant also said it will have shareholders vote on whether Tesla should move its state of incorporation from Delaware to business-friendly Texas, where the company is based.Tesla stakeholders are expected to convene on the topics at its annual meeting on June 13, ac ...

Google staffers wearing traditional Arab headscarves barged into the California office of the company’s top cloud executive, while other workers staged a sit-in at the company’s headquarters in New York City to protest the tech giant’s ties to the Israeli government on Tuesday.The pro-Palestinian employees, part of a group called “No Tech for Apartheid,” used social media accounts on X and Twitch to post images and live video of their takeover of the Sunnyvale, Calif.-based office of Thomas Kurian, the CEO ...

Tesla has reportedly paused all Cybertruck deliveries as customers have complained of a potentially fatal flaw with the electric vehicle’s accelerator pedal.According to mulitple reports on social media, including in the Cybertruck Owners’ Club forum, customers of the once-highly coveted stainless steel Tesla truck have received messages from dealerships notifying them that their delivery appointments had been cancelled.Many of the notices reportedly said that the latest shipments of the Cybertruck won’t be ...

Core Insights - Morgan Stanley reported first-quarter profits that exceeded analyst expectations, leading to a more than 3% increase in shares on the New York Stock Exchange [1] - The bank experienced a 16% increase in revenue compared to the same quarter last year [1] - Fixed-income underwriting revenue rose to $556 million from $407 million year-over-year, driven by higher bond issuance [1] Revenue Performance - The advisory unit's revenue declined to $461 million from $638 million year-over-year due to a decrease in mergers and acquisitions [3] - Wealth management revenue increased to $6.9 billion from $6.6 billion a year ago, contributing to more stable revenue streams [4][6] Future Outlook - The CEO anticipates a rebound in mergers and acquisitions, predicting a "multi-year M&A cycle" lasting 3 to 5 years [3] - Economic and geopolitical factors, including instability from wars in Ukraine and Gaza, may provide opportunities for Morgan Stanley to capitalize on [3] - The firm has strong backlogs and momentum across all divisions, with new assets climbing to $95 billion, half of which are from family offices [6]

JPMorgan Chase CEO Jamie Dimon has sold about $33 million of his shares in the bank, a regulatory filing showed on Monday, completing a previously disclosed plan to sell 1 million shares.Last October, JPMorgan had said Dimon and his family intended to sell 1 million of their 8.6 million shares, the first time Dimon was selling shares since becoming the CEO of the largest US lender in 2005.Dimon sold the remaining 178,222 shares, according to the filing on Monday, after offloading 821,778 shares in February, ...

Palmey Luckey — the Oculus VR headset creator who was controversially fired from Facebook in 2017 after he donated $10,000 to a pro-Donald Trump group — has called on Meta “to make everything public” about the still-murky circumstances behind his exit.Facebook has repeatedly denied that Luckey, who sold Oculus to Meta for $2 billion in 2014 and now runs the military contractor Anduril Technologies, was forced out of the company because he helped fund a campaign of critical memes about Hillary Clinton ahead ...

Tesla is laying off more than 10% of its global workforce — a move CEO Elon Musk called a “difficult decision” for the company as it grapples with falling sales amid an intensifying price war for electric vehicles.The layoffs were annnounced in an internal memo sent to Tesla’s global employees. Per the company’s latest annual report, it touted 140,473 staffers as of December 2023.Though the memo didn’t specify how many jobs would be affected, a reduction of more than 10% means that at least 14,047 employees ...