The Guardian - Business (50 minutes ago)
Planemaker beat lowered expectations but still burned billions in response to crisis and reported first revenue drop in seven quartersBoeing burned through nearly $4bn in the last quarter as it scrambled to contain a safety crisis unleashed by a mid-flight blowout of a cabin panel on a brand-new 737 Max 9 jet.The US planemaker has been left reeling...
ReadThe Guardian - Business (50 minutes ago)
Commerce department says gross domestic product growth decelerated to 1.6% at start of year as consumers slowed spendingAmerica's leading stock indices came under pressure on Thursday after official data revealed that US economic growth slowed sharply to its weakest rate in almost two years.But as high interest rates take their toll on the world's...
ReadThe Guardian - Business (5 hours ago)
Federal transportation agency finds Tesla's claims about feature don't match their findings and opens second investigationUS auto-safety regulators said on Friday that their investigation into Tesla's Autopilot had identified at least 13 fatal crashes in which the feature had been involved. The investigation also found the electric carmaker's...
ReadThe Guardian - Business (12 hours ago)
Analysts say investor confidence is improving, as shares in London post their best week since last SeptemberBHP's takeover bid for Anglo American is clever but far too lowDarktrace's decision to accept the terms of Thoma Bravo's takeover offer will add yet more fuel to the argument that the London Stock Exchange is in some trouble.Indeed, Darktrace...
ReadThe Guardian - Business (17 hours ago)
Pro-Palestinian demonstrators are calling on universities to sell investments in companies they say are complicit in war in GazaAs protests against Israel's offensive in Gaza are spreading throughout American campuses, one demand made by students across schools keeps coming up: divestment from Israel.Universities rely on endowments to fund things...
ReadThe Guardian - Business (17 hours ago)
Increase in cost of crude could drive inflation up and force central banks to keep interest rates high• Business live – latest updatesA serious escalation of tensions in the Middle East would push the price of oil above $100 (£80) a barrel and reverse the recent downward trend in global inflation, the World Bank has said.The Washington-based...
ReadThe Guardian - Business (20 hours ago)
Shares up despite dip in revenue and profits after company said it expects to release new vehicle models sooner than expectedTesla shares surged nearly 10% in after-hours trading on Tuesday after posting earnings results, despite a revenue miss for the first quarter of 2024, a steep decline in profits, and a recall of its most recently released...
ReadThe Guardian - Business (21 hours ago)
Joe Biden signs into law bill requiring Chinese owner to sell app's US operationsSenate passes bill banning TikTok if owner does not sell itJoe Biden has signed into law a bill that requires TikTok's Chinese owner to sell the social media app's US operations or face a ban, after the Senate passed the legislation.The law, part of a foreign aid...
ReadThe Guardian - Business (A day ago)
Study confirms Altria, Philip Morris International, Danone, Nestlé, PepsiCo and Coca-Cola are worst offendersFewer than 60 multinationals are responsible for more than half of the world's plastic pollution, with six responsible for a quarter of that, based on the findings of a piece of research published on Wednesday.The researchers concluded that...
ReadThe Guardian - Business (2 days ago)
Coffee chain brings challenge after being told to rehire seven workers at Tennessee store who pursued effort to unionizeUS supreme court justices on Tuesday appeared to agree with Starbucks in the coffee chain's challenge to a judicial order requiring it to rehire seven employees at a Tennessee cafe who were fired as they pursued efforts to...
ReadThe Guardian - Business (2 days ago)
Falls, slips and trips accounted for 865 worker fatalities in 2022 – more than 400 of whom worked in constructionWooden planks with nails covered the site where Antonio, a construction day laborer in Houston, Texas, was helping clear fencing last December. The contractor that hired him provided no protection, he said – so when he slipped, and a...
ReadThe Guardian - Business (2 days ago)
Ryanair urges European Commission to protect overflights and keep EU skies openRyanair has demanded that the EU reform its skies after the airline was forced to cancel more than 300 flights across Europe scheduled for Thursday because of a strike by French air traffic controllers.The cancellations come in spite of the withdrawal of strike action by...
ReadThe Guardian - Business (2 days ago)
Economists had tipped CPI growth for the March quarter of 0.8%, and an annual inflation rate of 3.5%Follow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastAustralia's inflation rate slowed less than expected in the March quarter as rents and education costs increased, dimming...
ReadThe Guardian - Business (3 days ago)
RTX and Lockheed Martin exceed Wall Street expectations for latest quarter amid wars in Gaza and Ukraine"Exceptionally strong” demand boosted sales at two US defense giants, the companies announced on Tuesday as geopolitical tensions flare in the Middle East and Ukraine continues to fight Russia's invasion.RTX and Lockheed Martin exceeded Wall...
ReadThe Guardian - Business (3 days ago)
The Basque Country's Mondragón Corporation is the globe's largest industrial co-operative, with workers paying for the right to share in its profits – and its losses. In return for giving more to their employer, they expect more backWhen Marisa Fernández lost her husband to cancer a few years ago, her employers at the Eroski hypermarket went,...
ReadThe Guardian - Business (3 days ago)
High court action will claim US owner allowed access to app users' private information in breach of UK lawGrindr faces the prospect of legal action by hundreds of users who will allege that the dating app shared highly sensitive personal information, including in some cases their HIV status, with advertising companies.The law firm Austen Hays is to...
ReadThe Guardian - Business (3 days ago)
Anthony Albanese responds to X owner who criticised Australian authorities demanding videos of a Sydney church stabbing be removedAustralia's prime minister has labelled X's owner, Elon Musk, an "arrogant billionaire who thinks he is above the law” as the rift deepens between Australia and the tech platform over the removal of videos of a violent...
ReadThe Guardian - Business (3 days ago)
Philippe Lamberts warns far-right gains in elections could destroy plan to protect nature and biodiversityThe EU's green deal to restore biodiversity, clean the continent's soil, air and water, and mitigate climate breakdown is at high risk of being killed off, the co-president of the Green group of MEPs has warned.The Belgian MEP Philippe Lamberts...
ReadThe Guardian - Business (3 days ago)
Huw Pill warns inflation could rebound as UK business survey signals economy strengthened over last monthThe prospects of a summer cut in UK interest rates have receded after the Bank of England's chief economist said inflation must be squeezed out of the economy and cautioned against cutting too soon.After a key survey signalled strong sales...
ReadThe Guardian - Business (3 days ago)
Consumer group calls on the regulator to act on slogans, designs or colours that imply a discount when it is not a genuine dealFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastConsumer advocacy group Choice has called on the competition regulator to stop supermarkets...
ReadThe Guardian - Business (4 days ago)
FTC lawsuit to block Coach parent from buying Michael Kors owner says deal would deprive consumers of competitionThe US Federal Trade Commission said on Monday it was suing to block Coach parent Tapestry's $8.5bn deal to buy Michael Kors owner Capri, saying it would eliminate competition.This comes at a time when several US lawmakers have sought...
ReadThe Guardian - Business (4 days ago)
Platform's future in US in doubt after House approves bill ordering Bytedance to sell stakeTikTok has said it will fight any ban or forced sale of the app's US operation in the courts, after the House of Representatives passed legislation targeting the viral video platform.The company's future in the US was placed in further doubt over the weekend...
ReadThe Guardian - Business (4 days ago)
CEO Elon Musk postpones India trip ahead of results expected to show worst performance in seven yearsBusiness live – latest updatesShares in Tesla came under pressure on Monday after the electric carmaker announced a round of price cuts ahead of a difficult set of results for the company's chief executive, Elon Musk.Tesla stock fell as much as 5%...
ReadThe Guardian - Business (4 days ago)
Shawn Fain tells the Guardian he expects 'more of the same to come' after celebrating union's historic victory at Tennessee plantAfter celebrating his union's historic victory at a Volkswagen plant in Tennessee, Shawn Fain, president of the United Auto Workers, told the Guardian that he was confident of more unionization wins at auto plants across...
ReadThe Guardian - Business (4 days ago)
Jean-Noël Barrot says propaganda via social media and fake websites may distort EU election resultsFrance is being "pounded” by Russian disinformation that could distort the result of the upcoming EU parliamentary elections, France's minister for Europe has said.Jean-Noël Barrot said in an interview with Ouest-France that Russian propaganda was...
ReadThe Guardian - Business (4 days ago)
About 46,000 aircraft have logged GPS problems over Baltic Sea since August, says reportFlights in and out of Britain are among thousands that have been affected by suspected Russian jamming of GPS systems.More than 2,300 Ryanair flights have reported incidents of GPS interference since last August, according to a report, as well as almost 1,400 at...
ReadThe Guardian - Business (5 days ago)
The map app will soon advise users in Sydney and Melbourne on public transport or walking alternatives to their driving planFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastGoogle Maps will politely pester Australian travellers to take public transport or walk to their...
ReadThe Guardian - Business (5 days ago)
The Italian city's attempt to help its sleep-deprived residents is denounced as a step too farMilan's leaders have been accused of waging war against ice-cream in their bid to combat "wild nightlife” in the northern Italian city.Marco Granelli, the deputy mayor for public security, recently announced a proposal banning the sale of takeaway food...
ReadThe Guardian - Business (5 days ago)
Retail inflation has lessened, but businesses are still swamped by huge price increases in materials and servicesConsumer prices ticked up again in March, rising to anywhere from 3.2% to 3.8% year-over-year, depending on the rate you're tracking. Of course, that's way down from what it was back in 2022. But don't tell that to any of my clients –...
ReadThe Guardian - Business (5 days ago)
Chief economist says common framework has failed to provide any new money to world's poorest countries since it was set up in 2020The mechanism for providing debt relief to the world's poorest countries is failing to produce results and requires a major rethink, a senior official at the World Bank has said.Indermit Gill, the bank's chief economist,...
ReadThe Guardian - Business (6 days ago)
Company says Chinese government ordered it to remove two Meta-owned apps for 'national security' reasonsApple has removed WhatsApp and Threads from its Chinese App Store after the Chinese government ordered it to do so for "national security” reasons.Apple confirmed it had withdrawn the two apps – both owned by Meta, also the owner of Facebook...
ReadThe Guardian - Business (6 days ago)
Company says 'we're off to a good start in 2024' as net income jumps 79% to $2.3bn, beating analysts' expectations Profits at Netflix have surged as the world's largest streaming service added millions of new paying subscribers.The entertainment giant added 9.3 million subscribers in the latest quarter – more than expected by analysts on Wall...
ReadThe Guardian - Business (6 days ago)
Recall represents another 'black eye' for the company, which saw its share prices fall this week, wiping away all its gains this yearTesla recalled all Cybertrucks Friday after federal safety regulators contacted the company over malfunctions with the vehicle's accelerator pedal. New Cybertruck orders have been reportedly cancelled or stalled. The...
ReadThe Guardian - Business (A week ago)
Vote makes Chattanooga factory first auto plant in US south to unionize via election since the 1940sVolkswagen workers at the carmaker's Chattanooga plant in Tennessee have voted to unionize with the United Auto Workers, a historic victory for the union and the labor movement's efforts to expand to the southern United States.The vote was the first...
ReadThe Guardian - Business (A week ago)
US officials say pedal pad could come loose and get lodged in interior trim, causing vehicle to accelerate unintentionallyTesla is recalling all 3,878 Cybertrucks it has shipped since the vehicle was released in late 2023, according to a Friday filing from the US National Highway Traffic Safety Administration (NHTSA), following reports of a faulty...
ReadThe Guardian - Business (A week ago)
Pair also join two other siblings on board, further strengthening family's control of French luxury goods companyTwo sons of the world's richest man, Bernard Arnault, have joined the board of LVMH after a shareholder vote, further cementing the family's control of the French luxury goods company.The pair joined their elder siblings on the board of...
ReadThe Guardian - Business (A week ago)
European Commission has concerns about app's impact on children, as well as addictionThe EU has given TikTok 24 hours to provide a risk assessment over a new service it has launched amid concerns it could encourage children to become addicted to videos on the platform.The watch-and-get-rewarded application, TikTok Lite, launched in France and Spain...
ReadThe Guardian - Business (A week ago)
Google workers linked to No Tech for Apartheid denounce 'flagrant act of retaliation' in dispute over $1.2bn cloud contractGoogle said on Thursday it had terminated 28 employees after some staff participated in protests against the company's cloud contract with the Israeli government. Employees staged sit-ins at their offices, some for more than...
ReadThe Guardian - Business (A week ago)
Delaware court in nullified compensation deal based on carmaker's market value in January, calling it 'unfathomable sum'Tesla on Wednesday asked its shareholders to once again approve CEO Elon Musk's record-breaking $56bn pay that was set in 2018. A Delaware judge rejected the pay package in January, calling it excessive and saying the company's...
ReadThe Guardian - Business (A week ago)
Gigantic bill apparently reflected using 9.5 gigabytes of data on a phone that had not been set up for international roamingA Florida man was stunned to come back from a European trip and – upon checking his phone bill – realize that he had been charged a staggering $143,000 by his phone company for using his device while overseas.ABC Action...
ReadThe Guardian - Business (A week ago)
Andrew Bailey says inflation is in line with BoE forecasts but view of markets is that data will delay interest rate cutsAnalysis: Sunak hopes of pre-election rate cuts frustratedThe governor of the Bank of England, Andrew Bailey, has shrugged off a smaller-than-expected drop in inflation last month, saying he expected a sharp fall towards the...
ReadThe Guardian - Business (A week ago)
Announcement of streaming service for content 'at risk of cancellation' comes as company shares continue downward slideDonald Trump's social media empire has announced plans to launch a streaming platform. Its shares continued to fall.Trump Media & Technology Group, owner of Truth Social, has come under pressure since its stunning stock market...
ReadThe Guardian - Business (A week ago)
President touted plan during speech on Wednesday in Pennsylvania, where union support could prove crucialJoe Biden announced plans to triple tariffs on Chinese steel and aluminum and promised to block the acquisition of US Steel by a Japanese company during a speech to steelworkers on Wednesday in the battleground state of Pennsylvania, where union...
ReadThe Guardian - Business (A week ago)
Swiss food firm's infant formula and cereal sold in global south ignore WHO anti-obesity guidelines for Europe, says Public EyeNestlé, the world's largest consumer goods company, adds sugar and honey to infant milk and cereal products sold in many poorer countries, contrary to international guidelines aimed at preventing obesity and chronic...
ReadThe Guardian - Business (A week ago)
Uri Berliner suspended without pay for five days by National Public Radio for unauthorised outside work for another outletThe National Public Radio employee who recently published a scorching letter accusing the media organization of a liberal slant has been suspended without pay for five days.Uri Berliner, an NPR senior business editor, was...
ReadThe Guardian - Business (A week ago)
Olaf Scholz says European cars should have equal access to Chinese customersEurope live – latest updatesThe chancellor of Germany has urged industry bosses in China to play fair by not overproducing cheap goods or infringing copyright rules.Speaking on a three-day visit to China, where he is travelling with leading business representatives and...
ReadThe Guardian - Business (A week ago)
United Auto Workers faces first real test in campaign to unionize 13 automakers across US as Volkswagen workers vote in TennesseeThe United Auto Workers (UAW) has launched an ambitious campaign to unionize 13 non-union automakers across the US, and the first big test begins this Wednesday when 4,300 Volkswagen workers in Chattanooga, Tennessee,...
ReadThe Guardian - Business (A week ago)
Billionaire says 'there is nothing I hate more' than cutting staff as more than 10% of workforce to be affectedBusiness live – latest updatesTesla is laying off more than 10% of its global workforce, equivalent to at least 14,000 roles, as the electric carmaker reacts to slowing demand and pressure on prices.The chief executive, Elon Musk,...
ReadThe Guardian - Business (2 weeks ago)
In an unprecedented deal, a private company purchased land in a tiny Arizona town – and sold its water rights to a suburb 200 miles away. Local residents fear the agreement has 'opened Pandora's box'One of the biggest battles over Colorado River water is being staged in one of the west's smallest rural enclaves.Tucked into the bends of the lower...
ReadThe Guardian - Business (2 weeks ago)
Use of portal to flag safety and quality issues 'exploded', executive says, amid intense scrutiny following Alaska Airlines incidentAn internal service for Boeing employees to raise safety and quality concerns has "exploded” this year, an executive claimed, after a whistleblower said he endured retaliation for speaking up.The planemaker has come...
ReadThe Guardian - Business (2 weeks ago)
Tech giant is protesting proposed law that would require large online platforms to pay 'journalism usage fee'Google has temporarily blocked links from local news outlets in California from appearing in search results in response to the advancement of a bill that would require tech companies to pay publications for links that articles share. The...
ReadThe Guardian - Business (2 weeks ago)
After Eaze workers unionized with United Food and Commercial Workers, company cut pay and wouldn't address it in negotiationsDelivery drivers and other workers at the US's largest cannabis-delivery company are threatening to strike in what would probably be the biggest work stoppage to hit the cannabis industry.Nearly 600 workers at 11 depot...
ReadThe Guardian - Business (2 weeks ago)
South Korean firm regains pole position amid biggest drop in iPhone sales since Covid-19 lockdownsApple has lost its spot as the world's biggest mobile phone seller after a steep sales drop as South Korean rival Samsung retook the lead in the global market share.Samsung had been the biggest seller of mobile phones for 12 years until the end of...
ReadThe Guardian - Business (2 weeks ago)
Fragile recovery, low growth, global debt, AI, the climate … The organisations founded in 1944 have lots to talk about this weekThere is likely to be a sense of relief when the International Monetary Fund and the World Bank hold their half-yearly meetings in Washington this week. Not because the world is crisis-free – it clearly isn't – but...
ReadThe Guardian - Business (2 weeks ago)
Some companies operate a draconian policy on drugs and other intoxicants. Fine. But for me it's performance that countsCannabis. Caffeine. Adderall. Xanax. Ritalin. Vicodin. Tito's and Jameson. These are all legal substances in most states. Some can only be used when medically prescribed. The others are used "recreationally” and more people are...
ReadThe Guardian - Business (2 weeks ago)
Brazilian president Lula's proposals have the backing of the World Bank. Now we need action All things considered, the world's richest countries have emerged from the global pandemic in better shape than they could have imagined when Covid-19 first appeared just over four years ago.To be sure, the impact of lockdown and its aftermath has been...
ReadThe Guardian - Business (2 weeks ago)
More than 40 locations across the US reported the backlash after rightwing account stokes anti-trans rhetoric about its rulesMore than 40 Planet Fitness locations across the country have received bomb threats after a conservative movement against the gym's trans-inclusive locker room policy went viral online.In the weeks since the backlash against...
ReadThe Guardian - Business (2 weeks ago)
The union leader has galvanized organized labor in a critical year, after securing a historic deal with the big three carmakers in 2023From Amazon and UPS to Starbucks and Hollywood studios, organized labor is making a comeback in the US after decades of decline. Shawn Fain thinks he knows why: "Workers have realized they've been getting screwed...
ReadThe Guardian - Business (2 weeks ago)
Adnoc decided move was not right fit but it is latest sign of foreign buyers circling UK firmsAbu Dhabi's state-owned oil company reportedly recently explored a multibillion-pound bid for BP, in a sign that depressed share values in London are making even the biggest British businesses takeover targets.Abu Dhabi National Oil Company (Adnoc)...
ReadThe Guardian - Business (2 weeks ago)
Truong My Lan found guilty of embezzling from Saigon Commercial Bank in case that was part of wider crackdownA prominent property tycoon has been sentenced to death for her role in Vietnam's biggest-ever fraud case.Truong My Lan, the chair of the developer Van Thinh Phat, was found guilty of embezzlement, bribery and violations of banking rules on...
ReadThe Guardian - Business (2 weeks ago)
UK vineyards are thriving as far north as Yorkshire and Scotland as investors cash in on tax breaks and hotter summers"We've never had frost here,” says Adrian Pike, gesturing across rows of vines just starting to show signs of tiny buds in the weak Kent spring sunshine.Westwell vineyard is on the site of a former monastery and sits close to the...
ReadThe Guardian - Business (2 weeks ago)
Conservatives are taking legal action against public and private organizations that aim to aid women and people of colorLast year's supreme court decision to ban affirmative action in college and university admissions was a watershed moment for far-right conservative activists and groups, who have used the momentum to target not only public...
ReadThe Guardian - Business (2 weeks ago)
Thanks to near-monopolies in many industries, corporations are seeing record profits as consumers struggle with high pricesWe learned this week that the Consumer Price Index climbed 3.5% in March from a year earlier, up from 3.2% in February, and faster than most economists anticipated.This poses a conundrum for central bankers who have made it...
ReadThe Guardian - Business (2 weeks ago)
Launches within 12 hours of one another, and more activity expected in industry over summerOpenAI, Google, and the French artificial intelligence startup Mistral have all released new versions of their frontier AI models within 12 hours of one another, as the industry prepares for a burst of activity over the summer.The unprecedented flurry of...
ReadThe Guardian - Business (2 weeks ago)
Managing director David Smith emailed team in 2010 to say Seema Misra's conviction was 'brilliant news'A post office operator who was wrongly prosecuted while pregnant has rejected a Post Office executive's apology for having sent an email celebrating her conviction as "brilliant news”.The inquiry into the Horizon IT scandal heard that David...
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