New York CNN — Boeing reported a $650 million operating loss in the fourth quarter, surprising Wall Street analysts who had expected the aircraft giant to turn a profit. The company blames the unexpected loss on “abnormal production costs” as it both tried to meet the remaining backlog of 737 Max jets and ramped up … Read more
New York CNN — Legislators are set up to grill top executives the event ticketing industry on Tuesday after Ticketmaster’s inability to process orders for Taylor Swift’s upcoming tour left millions of fans unable to buy tickets or without their ticket even after purchase. Joe Berchtold, the president and CFO of Live Nation Entertainment, parent … Read more
CNN — It turns out that farmers can be big business. Billionaire Bill Gates has announced an investment in Australian start-up Rumin8, which is developing a seaweed-based feed to reduce the methane emissions cows produce through their burps and, to a lesser extent, farts. Methane is a powerful greenhouse gas. Although it has a shorter … Read more
New York CNN — Netflix announced Thursday that founder Reed Hastings is stepping down as co-CEO of the company and will serve as executive chairman. Hastings will be replaced by co-CEOs Ted Sarandos and Greg Peters. “Our board has been discussing succession planning for many years (even founders need to evolve!),” Hastings wrote in a … Read more
CNN — Last fall, as Ukraine retook large swaths of territory in a series of counter-attacks, it bombarded Russian troops with US-made artillery and missiles. Leading some of that artillery was a homemade targeting system Ukraine had developed on the battlefield. A piece of Ukrainian-made software has turned readily available tablet computers and smartphones into … Read more
