Boeing officials vowed Wednesday to significantly increase airplane production and cash flow in the next few years as the company seeks to recover from two deadly crashes and years of mistakes in its airline and defense businesses. Boeing said it expects to boost revenue to $100 billion and generate $10 billion in annual cash flow…
OMAHA, Neb. (AP) — The Agriculture Department announced more than $223 million in grants and loans Wednesday to help small- and mid-sized meat processing plants expand as part of a larger $1 billion effort to boost competition in the highly concentrated industry. The effort is expected to increase cattle and pig slaughter capacity by more…
HONG KONG/BEIJING (Reuters) -Chinese policymakers pledged on Wednesday that growth was still a priority and they would press on with reforms, helping further boost stock markets buoyed by hopes that Beijing will ease off on its strict COVID-19 measures. The policymakers’ comments came in an apparent bid to soothe fears that ideology could take precedence…
(Reuters) – The “ultimate level” of the Federal Reserve’s benchmark policy rate is likely higher than previously estimated, Fed Chair Jerome Powell said on Wednesday. In remarks at a press conference after the Fed raised rates by 75 basis points for a fourth consecutive meeting, Powell said there is “significant uncertainty” around the level of…
NEW YORK (AP) — Elon Musk said Wednesday that Twitter will not allow anyone who has been kicked off the site to return until it sets up procedures on how to do that, a process that will take at least a few weeks. That would mean people banned from the site for violating Twitter’s rules…
By John McCrank and Chris Prentice (Reuters) -The U.S. Securities and Exchange Commission on Wednesday proposed new rules aimed at better preparing the mutual fund industry for distressed market conditions, including a new pricing mechanism that has drawn opposition from fund managers. The market disruptions of March 2020 reinforced the fact that liquidity can deteriorate…
PARIS (Reuters) – Axa on Wednesday said its revenue in the first nine months of the year increased by 2% and estimated it would have to pay out about 400 million euros ($394 million) for damages caused by hurricane Ian in the United States. The French insurer – Europe’s second-biggest after Germany’s Allianz – said…
DENVER (Reuters) – Shares of U.S. shale producer Devon Energy slumped more than 7% on Wednesday morning after the company said its capital spending would be higher than Wall Street forecasts, while output in the fourth quarter fell short of expectations. Devon’s fourth-quarter total production forecast of 640,000 barrels of oil equivalent per day (boepd)…
NEW YORK (AP) — Mortgage rates continue to jump, home sales slump and credit cards and auto loans increase. Savings rates are slightly juicier, though. As the Federal Reserve steadily increases interest rates, many economists say they fear that a recession remains inevitable in the coming months — and with it, job losses that could…
By Brendan Pierson (Reuters) -CVS Health Corp, Walgreens Boots Alliance Inc and Walmart Inc have agreed to pay about $13.8 billion to resolve thousands of U.S. state, local and tribal government lawsuits accusing the pharmacy chains of mishandling opioid painkillers. CVS said Wednesday it had agreed to pay about $5 billion over 10 years, and…
