Airbus is taking on China as a hub to help build its planes
Airbus has delivered the first A350 widebody jet from its Chinese Tianjin final assembly plant.
The aircraft was made for China Eastern Airlines and the completion further bolsters the manufacturer’s industrial footprint in China relative to rival Boeing.
The work conducted in Tianjin on the jet includes cabin installation, painting, production flight test, and aircraft delivery, Airbus said in a statement.
Airbus has been more aggressive than Boeing in moving parts of its manufacturing process to China
The planemaker has slowly transitioned its manufacturing to the communist nation, with the hope of increasing its share of sales in the world’s biggest market for new planes.
In 2008, Tianjin became the company’s first final assembly line for the A320 narrowbody jet outside Europe, and in 2017 it became a completion and delivery facility for the A330.
Airbus expects to deliver a total of five A350s from Tianjin this year
Airbus has been gaining market share in China as the domestic travel market has rebounded to pre-COVID leves.
Over at competitor, Boeing, the US-based manufacturer is still grappling with Chinese scrutiny over the 737 MAX and the death of orders of the troubled jet.
Boeing waited until December 2018 to open its first completion plant in China at Zhoushan for the 737 MAX, however, due to the model being grounded three months later following a second fatal crash, the MAX is yet to be approved in China.
Airbus gains Chinese popularity
Airbus successfully delivered 99 planes to China last year.
64 more jets were also delivered in the first half of this year despite the global pandemic.
Disney withdraws ads from X amid tensions
Bob Iger, the CEO of Disney, faces a turbulent period as he navigates through challenges including activist investor pressure, plummeting stock prices, and declining consumer interest in Disney movies.
Amidst these struggles, Iger has taken a controversial step by publicly announcing the withdrawal of Disney’s advertisements from Elon Musk’s social media platform, X (formerly known as Twitter). This move aligns with a broader trend of progressive CEOs distancing themselves from platforms associated with figures like Musk and Donald Trump.
The decision to pull ads from X marks a significant shift in the digital advertising landscape. This platform, under Musk’s leadership, aims to transform from a ‘lefty safe space’ to a hub for unrestricted free speech. This pivot includes a commitment to allowing conservative voices and resisting influence from political entities, including those in the Biden administration. However, this transformation has placed Musk, the world’s richest man, in a vulnerable position, drawing intense scrutiny and criticism.
Musk’s situation worsened following his endorsement of a controversial tweet, perceived as antisemitic, suggesting a Jewish conspiracy behind a demographic replacement theory. This incident fueled antisemitic sentiments, especially in the wake of the tragic Oct. 7 Hamas attack in Gaza. Additionally, a report by Media Matters, a Soros-supported organization, accused X of juxtaposing major company ads, like Disney’s, with harmful neo-Nazi content. This allegation led to an advertising boycott, severely impacting X’s financial stability.
At the recent New York Times DealBook conference, Iger openly criticized Musk’s actions and X’s content policies, leading to Disney’s ad withdrawal. While Musk admitted his error, he and his team have countered Media Matters’ claims, accusing them of defamation and filing a lawsuit. Amid these controversies, stakeholders are questioning Iger’s strategic decisions for Disney, especially considering his legacy as a former long-term CEO and his role in shaping the company’s current direction under his successor, Bob Chapek.
Microsoft’s non-voting board seat in OpenAI revival
Microsoft has secured a non-voting board seat at OpenAI, marking a significant development as Sam Altman returns to helm the organization as CEO.
Microsoft’s new role within OpenAI comes as the tech giant continues to deepen its involvement in AI research and development. While the board seat is non-voting, it symbolizes Microsoft’s commitment to fostering collaboration in the AI community.
This move follows Sam Altman’s recent appointment as CEO of OpenAI, bringing him back into the fold after a brief stint at the helm of the startup in its early days.
With the resurgence of Altman as CEO, and Microsoft’s newfound presence on the board, the question arises: What synergies will this partnership unlock between two prominent entities in the AI domain?
As AI technologies continue to advance, what potential breakthroughs can we expect from this collaboration?
In summary, Microsoft has secured a non-voting board seat at OpenAI as Sam Altman returns as CEO, signaling a deepening alliance in the world of artificial intelligence.
Elon Musk’s X faces $75M loss as advertisers exit
Elon Musk’s venture, X, is bracing for a substantial financial hit as reports suggest it could suffer losses of up to $75 million by the end of this year.
The turmoil stems from a growing exodus of advertisers, which has sent shockwaves through the company’s revenue streams.
The advertiser exodus appears to be linked to controversies surrounding Elon Musk and his unconventional approach to business and social media. Musk’s controversial statements and tweets have drawn both praise and criticism, but they seem to have alienated a significant portion of X’s advertising partners. Many companies are distancing themselves from the venture due to concerns about brand image and association with Musk’s unpredictable behavior.
This development raises pressing questions about the future of X and its ability to retain advertising partnerships. Can Elon Musk navigate these turbulent waters and win back advertisers? Will X need to reevaluate its strategies and adopt a more traditional corporate image? How might this impact the overall financial health of the venture, and what steps will be taken to mitigate losses?
In the midst of these uncertainties, it remains to be seen whether X can weather the storm and maintain its prominent position in the business world. Elon Musk’s unorthodox approach has often yielded success, but the current challenges pose a significant threat to the venture’s financial stability. As the year-end approaches, observers are closely watching to see how Musk and X respond to this critical situation.
Taylor Swift’s concert deals spark international trade dispute
FAA uncovers Boeing quality control issues
Can U.S. Moon lander Odysseus recover from it’s dormancy?
Crypto.com accidentally transfers $10.5m to woman instead of $100
What is happening between SHIB and Vitalik? | TICKER VIEWS
Russia has cancelled itself. But the world should beware of poking the Russian bear￼
Tech2 days ago
Russian spies release tape of secret German meeting held on WebEx
News2 days ago
Economists warn of another major China shock
Tech1 day ago
How to proactively defend against rising cybercrime
Tech3 days ago
Lawyers seeking $6 billion fee from Elon Musk
Tech1 day ago
Balancing AI integration in cybersecurity
Tech1 day ago
What are the three key cybersecurity challenges?
Tech1 day ago
Identifying skill in cyber sector shortage
News1 day ago
Can’t beat ’em, buy ’em – Will Apple buy an EV maker next?