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Qantas Cancels Massive Boeing Order

Order for 15 Dreamliners scrapped as craft's test flight is delayed again

(Newser) - Qantas Airways has dealt a heavy blow to Boeing's troubled Dreamliner project with the cancellation of a major order, Bloomberg reports. The Australian airline scrapped an order for 15 of the 787s, and deferred an order for 15 more. Qantas said the move was due to industry conditions and not...

Boeing Drops; Dow Loses 16
 Boeing Drops; Dow Loses 16 
MARKETS
Jun 23, 2009 3:29 PM CDT

Boeing Drops; Dow Loses 16

Bank of America, JP Morgan Chase post modest advances

(Newser) - Stocks were mixed today, between a slide by Boeing and a successful auction of 2-year Treasury notes, the Wall Street Journal reports. Another delay for its Dreamliner dragged Boeing down 6.27%; Bank of America and JP Morgan Chase both advanced after yesterday’s sell-off. The Dow fell 16.10...

Boeing Delays Dreamliner Test—Again

(Newser) - The wait for Boeing’s long-delayed first flight of its 787 Dreamliner became even longer today. The company announced it would miss its late June target because part of the plane needs to be reinforced, the Wall Street Journal reports. Boeing stock fell 7% on the news. The 787, Boeing's...

Boeing Looks to Old 777 Model in Airbus Battle

Will re-tool tanker to compete for Pentagon refueling contract

(Newser) - With its 787 Dreamliner delayed, Boeing is turning to its 14-year-old 777 to compete with Airbus’ next plane, Bloomberg reports. At the Paris Air Show today, Boeing said it may make a new wing for the 777 in an effort to boost fuel efficiency, and will also showcase a 777-based...

Huge United Order Sparks Jet Builder Face-Off

Bargain-hunting airline invites Boeing, Airbus to duke it out

(Newser) - Hoping to score a good deal by exploiting the recession, United Airlines has called on Boeing and Airbus to bid on an order for up to 150 new jets, the Wall Street Journal reports. The plan could bring in $10 billion for one of the manufacturers, both of whom face...

Dreamliner's Latest Estimated Takeoff: June

Troubled aircraft finally reaching last test stages

(Newser) - After years of delays, Boeing’s 787 Dreamliner may finally be finished. After a full on-the-ground simulation, one will leave the factory this week to take a place on the runway for a real test flight in June, the Seattle Times reports. Boeing lost 32 jet orders due to delays...

Dow Drops 300 to Lowest Close Since '97

Index makes a beeline for 6,000

(Newser) - Investors sold stock in droves today amid continued financial-sector woes and a poor report on manufacturing, the Wall Street Journal reports. Financials sank, and the manufacturing woes sent General Electric, Boeing, Caterpillar and 3M into downward spirals. The Dow fell 299.64 to close at 6,763.29. The Nasdaq...

Lobbyists Open War Chests to Battle Obama

(Newser) - In his address to Congress, President Obama made it clear certain industries are in his crosshairs, from agribusiness to defense to health care. But those industries aren’t taking it lying down, the Wall Street Journal reports. They’re spending big on lobbyists, hoping to derail—or at least reshape—...

Boeing Loses More Orders on Delayed Dreamliner

Aircraft-leasing company cancels orders for 16 of 21 jetliners it had ordered

(Newser) - The first aircraft-leasing company to order Boeing’s advanced 787 Dreamliner has slashed its order from 21 to 16 aircraft, citing economic uncertainties, reports the Wall Street Journal. It’s the second time this year that Boeing has lost an order for the jetliner, which is nearly two years behind...

Boeing to Delay Launch of Dreamliner—Again

Machinists strike, other bugs throw more wrenches into Boeing's production

(Newser) - Wheels-up time for Boeing’s much-anticipated Dreamliner jet will likely be delayed at least another 6 months, leaving customers wondering if the aircraft will ever take to the skies, the Wall Street Journal reports. The fourth delay, attributed to the recent machinists strike, bugs in the plane’s computer software,...

Strike Grounds Dreamliner to '09

Test flight for Boeing's first new jet in 14 years pushed back for a fifth time

(Newser) - The maiden flight of Boeing's 787 Dreamliner has been delayed for the fifth time, reports the AP. The company says the 8-week strike by its workers means the next-generation passenger jet now won't take off until an unspecified date next year. Canceled orders are unlikely despite the delay, says an...

Boeing Machinists End Strike
Boeing
Machinists
End Strike
Nov 1, 2008 11:07 PM CDT

Boeing Machinists End Strike

Union members ratify pact; work to resume after 8 weeks

(Newser) - The Boeing strike is over. Machinists in three states overwhelmingly ratified a union contract to end an eight-week strike that cut the airplane maker's profits and stalled jetliner deliveries. The union says the contract protects more than 5,000 factory jobs, prevents the outsourcing of certain positions, and preserves health...

Dow Jumps 889, Cracks 9,000
 Dow Jumps 889, Cracks 9,000 
MARKETS
Oct 28, 2008 3:35 PM CDT

Dow Jumps 889, Cracks 9,000

Bargain hunters spur big gains as markets jump late

(Newser) - Stocks zoomed past the 9,000 mark late in today's session as investors ignored a rock-bottom consumer-confidence rating, focusing on blue-chip gains and the likelihood of another rate cut by the Federal Reserve, the Wall Street Journal reports. The Dow shot up 889.35 to close at 9,065.12....

Boeing Reaches Deal With Striking Union

Tentative agreement would end 52-day machinists walkout

(Newser) - Boeing's 27,000 striking machinists could be back to work within days if they approve a deal hammered out with the help of a federal mediator late last night, the Seattle Post-Intelligencer reports. The deal will give machinists a 15% pay increase over four years and limit the amount of...

Volatile Day Ends With Gains
 Volatile Day Ends With Gains 
MARKETS
Oct 23, 2008 3:35 PM CDT

Volatile Day Ends With Gains

Utilities, energy spur late rally that leaves Dow up 172

(Newser) - Stocks saw wild triple-digit swings today before closing with gains, MarketWatch reports. Many earnings reports were poor, and weekly jobless claims spiked, but investors also found bright spots amid the gloom. The Dow rose 172.04 to 8,691.25. The Nasdaq fell 11.84 to 1,603.91, but...

Dow Sinks 514 on Bad Earnings
 Dow Sinks 514 on Bad Earnings 
MARKETS
Oct 22, 2008 3:32 PM CDT

Dow Sinks 514 on Bad Earnings

Third-quarter reports detail suffering across the board

(Newser) - Stocks continued yesterday’s decline amid a wave of poor earnings reports across the board, the Wall Street Journal reports. The Dow, down at one point nearly 700 points in the final hour, fell 514.45 to close at 8,519.21. The Nasdaq shed 80.93 points, closing at...

Boeing CEO Hopeful as Strike Talks Set to Resume

Firm may find compromise on crucial outsourcing issue

(Newser) - Boeing’s CEO is confident that the next round of talks could resolve a costly strike by its machinists union, the Seattle Times reports. With formal negotiations set to resume tomorrow, Jim McNerney thinks headway can be made on the pivotal issue of outsourcing the production of parts traditionally fashioned...

Boeing Strike Drags on After Talks With Union Collapse

Outsourced production remains logjam issue in dispute costing airplane-maker $100M a day

(Newser) - Talks broke down between Boeing and its machinists’ union yesterday, with no agreement in sight to end the 38-day-old strike, the Seattle Post-Intelligencer reports. Negotiations snagged over job security: Boeing has cut labor costs by outsourcing the production of certain parts formerly made by the machinists, and the return of...

Sides Dig In Despite Boeing Strike Costs
Sides Dig In Despite Boeing Strike Costs
ANALYSIS
Sep 29, 2008 1:35 PM CDT

Sides Dig In Despite Boeing Strike Costs

Stoppage in week 4; price tag nears $1.3B for aircraft giant

(Newser) - Machinists employed by Boeing have been on strike for more than 3 weeks, with no end in sight; analysts say if the stoppage reaches a month, it could cost the aircraft maker $1.3 billion, the Seattle Times reports. The union sees its position as good, given Boeing’s huge...

New AIG Chief Plans to Carve Leaner Corporation

Liddy will sell some assets to pay Feds

(Newser) - The new CEO of beleaguered giant American Insurance Group plans to trim the company, selling some assets to raise capital and pay back the government following its $85 billion bailout, reports the Wall Street Journal. "There will be a company at the end of this," vowed Edward Liddy,...

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