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Boeing investigation – FAA targets key subcontractor

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The Federal Aviation Administration (FAA) has expanded its investigation into Boeing, a leading aerospace giant.

The focus of the probe has widened, with the FAA now closely examining a subcontractor, Spirit AeroSystems utilised by Boeing in its manufacturing processes.

The aerospace industry has been under heightened scrutiny, especially in the wake of recent safety concerns and incidents.

The FAA’s decision to broaden its investigation indicates a growing need for a comprehensive understanding of the factors contributing to safety issues in Boeing’s 737 Max 9 aircrafts.

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Global markets hit record highs all thanks to AI

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Is AI the main contributor behind the soaring markets in Australia, the US, Japan, and Germany?

Financial markets worldwide have witnessed record highs, creating a wave of optimism among investors.

The surge is attributed to a combination of positive economic indicators, policy developments, and the integration of AI across key economies, including Australia, the United States, Japan, and Germany. #ticker today #featured

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Dune Part 2 sets box office ablaze with $178m worldwide

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As “Dune: Part Two” continues its intergalactic journey on the silver screen, director Denis Villeneuve’s epic sequel has ignited the international box office, amassing a stellar $97 million from 71 overseas markets.

This impressive overseas performance has propelled the film’s global tally to a promising $178.5 million, further solidifying its status as a cinematic force to be reckoned with.

Starring powerhouse talents such as Timothée Chalamet and Zendaya, “Dune: Part Two” has captured the imagination of audiences worldwide, earning widespread acclaim and enthusiastic support.

The film’s success in North American theaters, where it secured the biggest domestic opening weekend of the year with $81.5 million, has been complemented by robust ticket sales in international territories.

Large formats

The immense popularity of “Dune: Part Two” has been particularly evident in premium large formats, such as Imax, which accounted for 48% of initial sales, driving up the film’s revenue even further. Mary Parent, producer of “Dune,” remarked on the film’s cultural impact, expressing confidence in its longevity at the box office.

Despite facing challenges due to the hefty production and promotional costs—reportedly totaling $190 million and $100 million respectively—the sequel has already demonstrated its box office prowess, surpassing expectations in its initial run.

With a global audience eagerly embracing the continuation of Frank Herbert’s epic saga, “Dune: Part Two” is poised for a successful box office run.

The film’s international debut marks a significant milestone in Villeneuve’s career, achieving the largest opening weekend in all 71 markets—a testament to its universal appeal. Notable highlights include the United Kingdom, where it earned $11.8 million, as well as France ($9.6 million), Germany ($9.1 million), Korea ($6.9 million), and Australia ($6 million).

With upcoming releases in key markets such as China and Japan, “Dune: Part Two” is poised to further bolster its global box office performance.

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Can’t beat ’em, buy ’em – Will Apple buy an EV maker next?

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Tesla’s competitors, including Rivian, Lucid, and Fisker, find themselves grappling with significant challenges, sparking speculation about potential acquisitions and partnerships within the industry.

Rivian, once hailed as a formidable rival to Tesla, has faced a stark reversal of fortunes.

Following a disappointing quarter and outlook, the company announced a workforce reduction of approximately 10%, while its market capitalization plummeted from a peak of $153 billion in 2021 to $11 billion.

Speculation arose about tech giant Apple considering an acquisition of Rivian, with industry experts citing the company’s low valuation as a potential attraction.

Gene Munster, managing partner of Deepwater Asset Management, suggested that Apple, having recently abandoned its own EV project, might view Rivian as an opportunity to enter the EV market.

Apple’s bad luck

While Apple’s history of acquisitions has been relatively conservative, Munster emphasized the potential significance of such a move for the tech giant.

Meanwhile, Tesla CEO Elon Musk offered a grim assessment of Rivian’s prospects, highlighting the urgency for cost-cutting measures and operational improvements. Musk’s remarks underscored the precarious position facing Rivian as it navigates through challenging market conditions.

In a similar vein, Lucid Motors has experienced a substantial decline in its market capitalization, dropping from a peak of $91.4 billion to $7.6 billion.

The company’s production targets have been revised downwards significantly, leading to speculation about its future viability. Despite rumors of a potential acquisition by Saudi Arabia’s sovereign wealth fund, no such deal has materialized, leaving Lucid to confront its operational and financial hurdles independently.

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