Year: 2020

Boeing (BA) anticipates that its unmanned, fighter-like jet- the Loyal Wingman- will reach mass production by 2025, Reuters reports. The company is currently trialing one of three prototypes developed in Australia, aided by $26 million funding from the Australian government. “We are expecting middle of the decade, maybe a bit earlier that this will be in production,” Shane Arnott, the programme director of Boeing’s Airpower Teaming System stated.According to Arnott, “16 of the Loyal Wingman drones could be teamed with a manned aircraft for missions and it [is] on track for its first flight by the end of the …read more […]

Starbucks Corp. (SBUX) said it will reopen 85% of its U.S. stores by the end of this week after seven weeks of home-sheltering orders put in place to contain the spread of the coronavirus pandemic.By early June, the U.S. coffee chain expects more than 90% of its stores to be open under modified operations and hours. On March 22, Starbucks had shut down its U.S. and Canadian cafes due to the coronavirus-related lockdown regulations.“We have embraced an approach of monitoring, rapidly adapting to, and even shaping, the “now normal”, Starbucks CEO Kevin Johnson wrote in a letter to employees. “The …read more […]

Boeing Co sees mass production of its unmanned, fighter-like jet developed in Australia likely happening by the middle of the decade, an executive said on Tuesday, as it rolled out the first of three prototypes. “We are expecting middle of the decade, maybe a bit earlier that this will be in production,” Shane Arnott, the programme director of Boeing’s Airpower Teaming System, told reporters. Royal Australian Air Force (RAAF) Air Vice-Marshal Catherine Roberts said the Loyal Wingman’s role could include carrying weapons in combat and protecting assets like the E-7A Wedgetail early warning and control aircraft as well …read more […]

Hertz Global Holdings Inc. (NYSE: HTZ) dropped nearly 24% in after-hours trading on Monday as multiple reports suggested the company is nearing a bankruptcy filing.What HappenedThe car rental company has hired an additional advisor to help prepare for a planned bankruptcy filing, according to The Wall Street Journal.FTI Consulting Inc. was engaged by Hertz to advise on streamlining operations ahead of a possible chapter 11 filing after it missed a deadline on a debt payment last week, people familiar with the matter told WSJ.The Florida-based company previously tapped on investment bank Moelis & Company (NYSE: MC) and law firm White …read more […]

(Bloomberg) — Carson Block is predicting a plunge in stocks after they roared back from the coronavirus sell-off in March.“The direction has to be sharply downward,” the renowned short seller and founder of Muddy Waters Capital said in a phone interview.Block finds it hard to believe that equities are trading at their current valuations even though demand has been “crushed” by the pandemic and isn’t likely to recover anytime soon. “It makes no sense,” he said.After crashing into a bear market at its fastest pace on record, the S&P 500 Index has advanced about 27% from its March low. The …read more […]