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.

Published

1 year ago

January 2, 2025

ticker NEWS

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.

Coalition cracks deepen as Nationals break ranks over Labor reforms

Nationals senators defy party lines, voting against Labor’s reforms as Coalition faces internal rifts and leadership concerns.

Published

11 hours ago

January 21, 2026

Harvey Vargas

Nationals senators defy party lines, voting against Labor’s reforms as Coalition faces internal rifts and leadership concerns.

A rift has emerged in the Coalition after three Nationals senators crossed the floor to vote against Labor’s post-Bondi hate group reforms, defying party lines and raising questions about their future in the shadow cabinet.

Their proposed amendment calling for greater scrutiny was rejected, and Labor’s legislation passed the Senate 38 votes to 22, cementing the reforms into law despite opposition pushback.

Coalition leadership will meet Wednesday to assess the political fallout, though some MPs consider the issue minor in terms of potential resignations. The incident highlights growing tensions within the party as internal discipline comes under pressure.

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#AustralianPolitics #Coalition #Nationals #Labor #Senate #PoliticalDrama #TickerNews #BreakingPolitics

News

Trump escalates Greenland rhetoric as Davos leaders push back on sovereignty

Trump claims U.S. alone can ensure Arctic peace, sparking backlash as Greenland’s sovereignty faces geopolitical tensions at Davos.

Published

11 hours ago

January 21, 2026

Harvey Vargas

Trump claims U.S. alone can ensure Arctic peace, sparking backlash as Greenland’s sovereignty faces geopolitical tensions at Davos.

President Trump has intensified his remarks over Greenland, claiming the U.S. is the only nation capable of ensuring peace in the Arctic, sparking sharp pushback from European leaders. His rhetoric, including hints at potential tariffs, comes as international attention turns to the strategic territory.

The debate has dominated discussions at the World Economic Forum in Davos, Switzerland, where Trump confirmed plans to meet regarding Greenland following a positive conversation with NATO Secretary General Mark Rutte. Meanwhile, Greenland’s leadership has warned that the territory must be ready for potential military scenarios.

Canada’s Prime Minister Mark Carney also weighed in from Davos, drawing a firm line on sovereignty, declaring Greenland’s independence non-negotiable. The unfolding standoff highlights rising geopolitical tensions in the Arctic, with global powers increasingly staking their claims.

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News

OpenAI prepares first consumer device amid revenue boom

OpenAI plans to launch a screenless smart speaker by late 2026, shifting focus to hardware amid significant revenue growth.

Published

1 day ago

January 20, 2026

Harvey Vargas

OpenAI plans to launch a screenless smart speaker by late 2026, shifting focus to hardware amid significant revenue growth.

OpenAI is gearing up to launch its first-ever consumer hardware device in late 2026. The product is expected to be a screenless smart speaker, signalling the tech giant’s move beyond software and into the world of physical devices.

The device comes after OpenAI acquired a promising hardware startup to accelerate development.

The company is also pushing a strategy to strengthen domestic manufacturing, working closely with U.S. manufacturers to secure efficient production of essential components.

Despite the progress, technical hurdles remain, especially around the device’s listening capabilities, which could delay the rollout.

This development comes on the heels of OpenAI reporting an annualised revenue of over $20 billion in 2025, representing a staggering 233% increase from the previous year. The combination of massive revenue growth and expansion into hardware marks a new era for the AI pioneer.

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#OpenAI #SmartSpeaker #AIHardware #TechNews #Innovation #Manufacturing #AIRevenue #FutureTech