Author: Aishwarya Nair
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Boeing sees progress on 787, China, but supply chain risks loom
By Eric M. Johnson and Aishwarya Nair SEATTLE (Reuters) – Boeing Co said on Wednesday it would study an equity raise after unlocking deliveries of its 787 and returning its cash-cow 737 MAX to service in China, but flagged supply chain risks amid broader certification and industrial problems. Resuming deliveries of 787 Dreamliners and clearing…
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Lockheed quarterly profit falls 5.7% on supply chain snags
By Aishwarya Nair and Mike Stone (Reuters) -U.S. weapons maker Lockheed Martin Corp on Tuesday said its quarterly revenue fell while quarterly profits dropped 5.7% as supply chain woes triggered by the COVID-19 pandemic were compounded by inflation pressure. The company reaffirmed its full-year revenue outlook of about $66 billion which is in line with…
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Ford boosts EV spending to $50 billion, sets up new Model e unit
By Aishwarya Nair, Abhijith Ganapavaram and Paul Lienert (Reuters) -Ford Motor Co on Wednesday said it will boost spending on electric vehicles to $50 billion, up from the previous $30 billion, through 2026 and run its EV unit separately from its legacy combustion engine business, in a move aimed at catching industry leader Tesla Inc.…
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Peloton hits reset with CEO change, job cuts
By Subrat Patnaik and Aishwarya Nair (Reuters) -Peloton Interactive Inc will replace its chief executive and cut about 2,800 jobs, the company said on Tuesday, as the exercise bike maker looks to revitalize sagging sales and win back investor confidence. John Foley, the company’s co-founder who has led the company for nearly a decade, will…