Business – Astonishing Way

Boeing agrees to pay $2.5 billion to settle charges it defrauded FAA on 737 Max

January 14, 2021January 9, 2021aambgorg

Boeing reached a $2.5 billion settlement with the Justice Department on Thursday to settle criminal charges that the company defrauded the Federal Aviation Administration when it first won approval for the flawed 737 Max jet. The plane was grounded by the FAA in March 2019 following two fatal crashes that killed 346 people. It was […]

A little-known hedge fund caused widespread chaos on Wall Street

January 13, 2021March 31, 2021aambgorg

The names of the key players are different, but the lessons similar. The spectacular implosion of hedge fund Archegos Capital Management, much like the GameStop saga earlier this year, serves as a reminder of the dangers posed by extreme leverage, secret derivatives and rock-bottom interest rates. ViacomCBS (VIACA), Discovery (DISCA) and other media titans’ stocks […]

Volkswagen of America said its name was changing. Now it admits it was just a disaster of an April Fool’s stunt

January 12, 2021March 31, 2021aambgorg

In a move intended to reflect its new push into electric vehicles, Volkswagen’s US arm said Tuesday it was changing its name to “Voltswagen.” Yes, really. Except, not really. On Tuesday afternoon, the company admitted that the whole thing was a tongue-in-cheek deception that had turned into an utter disaster. “Volkswagen of America will not […]

SpaceX Mars rocket prototype explodes during test flight

January 11, 2021March 31, 2021aambgorg

An experimental SpaceX rocket exploded at the end of a high-altitude test flight Tuesday, but heavy fog at the site left even SpaceX at least publicly uncertain about exactly what caused the explosion. SpaceX CEO Elon Musk did confirm the explosion on Twitter, though, saying “At least the crater is in the right place!” All […]

Hong Kong broadcaster drops Oscars for the first time in 50 years

January 10, 2021March 31, 2021aambgorg

Hong Kong’s leading TV broadcaster will not air the Academy Awards next month for the first time in more than half a century. Television Broadcasts Limited (TVB) has been home to the awards in Hong Kong since 1969. Its decision not to broadcast the ceremony this year was “purely a commercial decision,” a spokesperson said. […]

Xiaomi is investing $10 billion to join the electric car race

January 9, 2021March 31, 2021aambgorg

A big smartphone maker is getting into electric cars. And it’s not Apple. China’s Xiaomi announced Tuesday that it will invest $10 billion over the next decade in a subsidiary focused on the “smart electric vehicle business.” The company said in a stock market filing that the new unit will be led by billionaire CEO […]