News
Boeing faces major challenges and leadership changes
Boeing faces 32% drop in Dow amid crises, production issues, and strikes, while Airbus and S&P 500 gain.
Boeing faces 32% drop in Dow amid crises, production issues, and strikes, while Airbus and S&P 500 gain.
Boeing is set to be the biggest loser in the Dow Jones Index for 2024, with a 32% decline in stock value.
In contrast, rival Airbus has seen an increase of over 11%, while the S&P 500 gained more than 23%.
Boeing’s shares began 2024 at $257.50, but a cabin panel blowout incident involving a 737 MAX in January led to investigations and the temporary grounding of the aircraft.
The U.S. Federal Aviation Administration (FAA) responded to safety concerns by restricting 737 production to 38 planes per month, causing shares to drop to around $211.
Production has faced additional challenges due to supply-chain issues, quality concerns, and a significant strike that stalled most commercial aircraft production.
Boeing has reported substantial losses across its commercial, military, and space divisions throughout the year.
In July, the company made a $4.7 billion acquisition of supplier Spirit AeroSystems, which has also struggled with production quality.
In August, Kelly Ortberg was appointed as CEO, succeeding Dave Calhoun.
However, Ortberg faced immediate challenges as around 33,000 production workers went on strike in September over a contract dispute, which extended into November.
During the strike, Ortberg announced plans to cut the workforce by 10% and indicated that Boeing anticipates continued cash losses into 2025.
Leaders
Cyber security shifts redefine critical infrastructure in APAC
Cyber security evolution prompts redefinition of critical infrastructure in Asia Pacific amid rising digital threats
Cyber security evolution prompts redefinition of critical infrastructure in Asia Pacific amid rising digital threats.
– Cyber security incidents in Asia Pacific redefine critical infrastructure, expanding its scope beyond just industrial machinery.
– New strategies emphasise visibility to protect crucial sectors like banking, finance, and telecommunications from cyber threats.
The rise in cyber security incidents in Asia Pacific is reshaping the definition and protection of critical infrastructure. New digital and operational technology risks are prompting stakeholders to reconsider conventional beliefs that critical infrastructure is primarily industrial machinery behind high fences.
Michael Fisher from Garland Technology discusses this evolving landscape. Critical infrastructure now encompasses essential services such as banking, finance, and telecommunications, expanding beyond traditional definitions.
The convergence of IT and operational technology (OT) networks increases cyber security risks. Many OT services were not designed with cyber security in mind, leaving them vulnerable to cyber attacks. Industries most at risk include telecommunications, banking, finance, and utilities, where any disruption can significantly impact society.
Increased Visibility
Fisher highlights that traditional cyber security alone is insufficient to secure these infrastructures. Effective protection requires a new approach focused on visibility. Garland Technology’s mission is to provide visibility to upstream cyber security platforms, eliminating blind spots.
Governments and businesses must recognise their roles in combatting cyber threats. Australia’s Security of Critical Infrastructure Act is a step towards increasing corporate responsibility in recognising critical infrastructure and ensuring compliance with security measures.
News
Electric vehicles transform last mile delivery market
Australia’s last-mile delivery is rapidly adopting electric vehicles, fueled by green initiatives and insights from expert Joe Sofra.
Australia’s last-mile delivery is rapidly adopting electric vehicles, fueled by green initiatives and insights from expert Joe Sofra.
The shift towards electric vehicles (EVs) for last mile delivery is accelerating globally, with Australia expected to see significant growth.
Companies and retailers are increasingly adopting greener solutions, driven by supporting government initiatives.
Joe Sofra from ANC discussed the current state of the last mile EV market.
#ElectricVehicles #Sustainability #LastMileDelivery #Innovation #Australia
News
Trump gives Hamas ultimatum for Gaza peace plan acceptance
Trump gives Hamas deadline to accept Gaza peace plan amid rising pressure from Arab states and ongoing conflict in the region
Trump gives Hamas deadline to accept Gaza peace plan amid rising pressure from Arab states and ongoing conflict in the region
– Trump gives Hamas three to four days to accept a U.S.-backed Gaza peace plan, warning of consequences.
– Hamas calls the plan biased and insists on a complete Israeli withdrawal before considering any agreement.
Trump stated that support for the plan came from both Israeli and Arab leaders, and he emphasised the need for Hamas to respond promptly. The proposal includes a ceasefire, hostage exchanges, an Israeli withdrawal from Gaza, and disarmament of Hamas, along with a transitional government.
A Hamas source described the plan as biased towards Israel and containing unacceptable conditions.
The group maintains that a complete Israeli withdrawal is a prerequisite for their agreement to any deal, while they are unwilling to disarm.
Pressure Mounts
Hamas faces significant pressure as foreign ministers from Saudi Arabia, Jordan, the UAE, Qatar, and Egypt have supported the initiative. Turkey’s intelligence head is also set to join discussions in Doha, marking a new level of mediation.
Despite expressing initial support, Netanyahu is cautious about the plan’s implications for Palestinian statehood and faces pressure from his coalition. Public sentiment in Gaza reflects a desire for peace, albeit with scepticism about the sincerity of both Trump and Netanyahu’s commitments.
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