Year: 2020

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United buys Arizona flight academy to feed pilot pipeline

February 5, 2020 admin Comments Off on United buys Arizona flight academy to feed pilot pipeline

United Airlines Holdings Inc announced on Wednesday an agreement to purchase a flight training academy in Phoenix in a move aimed at bolstering its pilot pipeline as the industry faces a global shortage. To address a tight U.S. labor market created by years of slow pilot hiring, a wave of pending retirements and new rules that in 2013 increased the number of required training hours, U.S. airlines have been taking steps to attract young aviators. Chicago-based United, which is looking to hire more than 10,000 pilots by 2029, will be the first major U.S. carrier to run its …read more […]

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Macy's to close 125 stores, cut more than 2,000 jobs

February 5, 2020 admin Comments Off on Macy's to close 125 stores, cut more than 2,000 jobs

Macy’s said it would close stores in “lower tier” malls, and explore new off-mall formats, as it looks to tackle plummeting mall traffic in the United States. “We will focus our resources on the healthy parts of our business, directly address the unhealthy parts of the business and explore new revenue streams,” Chief Executive Officer Jeff Gennette said in a statement. …read more […]

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Autonomy Founder Lynch Arrested in U.S. Extradition Fight

February 5, 2020 admin Comments Off on Autonomy Founder Lynch Arrested in U.S. Extradition Fight

(Bloomberg) — Autonomy founder Mike Lynch, who’s fighting U.S. charges that he orchestrated a massive fraud at his software firm, was arrested in London as authorities pushed forward with his extradition.Lynch submitted himself for arrest and was granted conditional bail after being ordered to put up a 10 million-pound ($13 million) security, Westminster Magistrates Court staff said Wednesday. The U.S. Department of Justice alleges that Lynch made false statements to make his software firm more attractive to Hewlett-Packard Co., which acquired Autonomy for $11 billion in 2011. It wrote down the value by $8.8 billion just a year later.“Dr. Lynch …read more […]