Boeing said Wednesday that it lost $1.2 billion in the first quarter as it took large write-downs and lost money in both its civilian airplane and defense businesses. The loss was bigger than Wall Street had forecast, and the company’s quarterly revenue also fell short of expectations. Boeing burned through $3.2 billion in cash. “Messier…
US Mortgage Interest Rates Rise Further, Loan Demand Ebbs
The average interest rate on the most popular U.S. home loan rose to its highest level since June 2009 last week and demand for mortgages ebbed as the impact of rising costs began to bite, Mortgage Bankers Association (MBA) data showed on Wednesday. The average contract rate on a 30-year fixed-rate mortgage increased to 5.37…
Biden Bans Incandescent Lightbulbs
The energy department announced on Monday that it had finalized new rules restricting the sale of energy-inefficient incandescent and halogen lightbulbs, effectively obliging manufacturers to switch to compact fluorescent and LED lighting in the Biden administration’s latest effort to promote energy efficiency. The new rules ban the sale of lightbulbs that illuminate at a rate…
Teen Tracking Elon Musk’s Jet Shares Backup Plan ‘Just In Case’ His Twitter Account ‘Disappears’
Jack Sweeney, the enterprising teenager who created a Twitter Inc bot to track down Tesla Inc and SpaceX CEO Elon Musk’s movements, has a backup plan “just in case” his account on the microblogging account is shut down after the billionaire entrepreneur’s $44 billion takeover. What Happened The 19-year-old Florida University student told his over 424,800…
DHS Sets up ‘Disinformation Governance Board’ to Fight ‘Misinformation’
A “disinformation governance board” has been established at the Department of Homeland Security (DHS) to fight “misinformation” and will maintain “free speech, privacy, and civil rights” officials have confirmed. DHS chief Alejandro Mayorkas revealed the new initiative to lawmakers during a congressional hearing on April 27 when asked by Congressman Jim Langevin (D-R.I.) about what the department was…
GM to Spend $2 Billion on Self-Driving Startup Cruise This Year, Just a Permit Away From Charging Customers
General Motors Co. CFO Paul Jacobson said on Tuesday the company will spend about $2 billion on its self-driving taxi fleet Cruise this year. What Happened The legacy automaker said it is just a permit away from being able to begin charging for rides. “Inclusive of the incremental stock compensation expenses, we expect full-year 2022 expenses at Cruise to…
Alphabet Misses on Revenue as YouTube Ad Business Slowed by Ukraine War
Google parent Alphabet Inc. on Tuesday reported its first quarterly revenue miss of the pandemic after the war in Ukraine hurt YouTube ad sales, leaving investors rattled as the global economy sputters. The world’s largest provider of search and video made a fortune over the last two years as the pandemic forced more shops and…
Deutsche Bank Extends Quarterly Profit Streak but Ukraine Clouds Outlook
FRANKFURT—Deutsche Bank posted a better-than-expected 17 percent rise in first-quarter profit on Wednesday as investment banking revenues climbed, but its share price fell as it warned that the Russia-Ukraine conflict could hurt annual earnings. This year is crucial for Germany’s largest lender and Chief Executive Christian Sewing as he tries to deliver on targets he…
Russia’s GDP Decline Could Hit 12.4 Percent This Year, Economy Ministry Document Shows
Russia expects the economy to contract by 8.8 percent in 2022 in its base case scenario, or by 12.4 percent under a more conservative scenario, an economy ministry document showed on Wednesday, further evidence that sanctions pressure is taking its toll. The conservative forecast is in line with that of former finance minister Alexei Kudrin, who…
FCC Commissioner Hopeful Musk Twitter Takeover Will Result in ‘More Free Speech’
April 28, 2022
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A top Federal Communications Commission (FCC) official said that he is hopeful that “more free speech” will result from a successful Elon Musk take over of Twitter, a global social network with more than 400 million monthly users. FCC Commissioner Brendan Carr told NTD’s Paul Greaney in an April 25 interview that he hopes Musk…
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