Year: 2020

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Delta posts profit beat on loyal, new customers as rivals battle 737 MAX crisis

January 14, 2020 admin Comments Off on Delta posts profit beat on loyal, new customers as rivals battle 737 MAX crisis

Delta Air Lines Inc posted on Tuesday a fourth-quarter profit that beat Wall Street forecasts, boosted by customers gained from rival airlines’ 737 MAX cancellations and what CEO Ed Bastian said was a growing preference for the Delta brand. Airlines that own Boeing Co’s 737 MAX are together cancelling more than 10,000 monthly flights as the aircraft remains grounded following two deadly crashes. Delta does not operate the MAX, enabling it to grow its flight capacity and capture new customers while peers like Southwest Airlines Co have had to scale back. …read more […]

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Musk nears $346 million payday as Tesla market value soars

January 14, 2020 admin Comments Off on Musk nears $346 million payday as Tesla market value soars

Tesla Inc Chief Executive Elon Musk is coming close to earning the first $346 million tranche of options in a record-breaking pay package, after the electric vehicle maker’s stock more than doubled in the last three months. Shares of Tesla surged 9% to a record high on Monday. Musk has already hit an operational target that is also necessary for the options to vest. …read more […]

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Nokia lowers cost cut target to invest in 5G and digitalization

January 14, 2020 admin Comments Off on Nokia lowers cost cut target to invest in 5G and digitalization

The Finnish telecoms equipment maker Nokia lowered its cost savings target to 500 million euros ($557 million) from the previous 700 million by the end of 2020 to invest more in 5G technology and digitalization, it said on Tuesday. The company also it said it expected to cut some 180 jobs in Finland this year, excluding its 5G product development in Oulu and elsewhere in the country. In October, Nokia cut its outlook for 2019 and 2020 to step up its investments in 5G – news that knocked a third off the value of its share price. …read more […]