Tag: cut
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Boeing to cut 17,000 jobs as losses deepen during factory strike
Boeing will cut 10% of its workforce, or about 17,000 people, as the company’s losses mount and a machinist strike that has idled its aircraft factories enters its fifth week. Boeing expects to report a loss of an $9.97 a share in the third quarter, the company said in a surprise release on Friday. It took charges in…
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JD Vance’s mic gets cut while talking about Springfield at VP debate
Republican vice presidential nominee JD Vance said “Kamala Harris’ open border” has “destroyed” the lives of American citizens in Springfield, Ohio, before having his mic cut by debate moderators. In Tuesday night’s vice presidential debate on CBS, Vance claimed undocumented immigrants are pushing up home prices and overwhelming local schools across the country, at the…
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As extreme weather forecasts get better, warnings struggle to cut through
Before Hurricane Helene began ravaging swaths of the southeastern U.S., Amanda Wright had expected a little rain and maybe some flooding to hit the area around Knoxville, Tennessee, where she lives. It wasn’t until friends more than two hours away in Asheville, North Carolina, started posting warnings to Facebook that Wright realized how dangerous the…
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Why the Fed’s rate cut won’t immediately help car buyers or sales
DETROIT — The Federal Reserve’s decision to cut interest rates for the first time in more than four years is expected to eventually boost new vehicle sales, but not as quickly or by as much as some may expect. The rate cut earlier this month by half a percentage point, or 50 basis points, will take time to trickle down…
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Internet and phone outages cut Hurricane Helene victims off from the world
Some of the victims of Hurricane Helene are cut off from the outside world. Beyond collapsed roads and bridges, many affected areas, especially in western North Carolina, have experienced severe to total communications blackouts, as cell towers and internet services are down from the hurricane and subsequent flooding, power outages and landslides. Edward Hinson, the…
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Southwest Airlines to cut service and staffing in Atlanta to slash costs
Southwest Airlines is planning to reduce service to and from Atlanta next year, cutting more than 300 pilot and flight attendant positions, according to a company memo seen by CNBC. The changes come a day before Southwest’s investor day, when executives will map out the company’s plan to cut costs and grow revenue as pressure mounts…
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Fed interest rate cut expected and global trail behind Hezbollah pager explosions: Morning Rundown
A long-awaited interest rate cut is expected today. The mystery behind the origins of the exploding Hezbollah pagers deepens. And Sean “Diddy” Combs’ team will argue again for his release as he awaits a sex trafficking trial. Here’s what to know today. Fed expected to cut key interest rate Chair of the U.S. Federal Reserve…
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A Fed rate cut is coming. How big is anyone’s guess.
The Federal Reserve is poised to cut its key interest rate Wednesday, the first time since the onset of the Covid-19 pandemic that it has pushed it lower. A reduction to the central bank’s federal funds rate serves as a benchmark for other borrowing costs throughout the economy. And while that move has been widely…