Boeing has announced a six-month delay in reaching its production target for the 737 MAX, citing challenges in ramping up production. The new target is to reach a monthly output of 42 jets by March 2025, instead of the previous goal of September 2024. This delay comes amidst a series of challenges including a mid-air incident in January, a potential strike by union workers, and a tentative labor agreement that has left many workers dissatisfied.
US markets closed higher on Monday after a previous week of sell-offs, as investors sought bargains. Positive sentiment was fueled by anticipation of key inflation reports and the Federal Reserve’s upcoming interest rate decision. Asian markets followed suit with gains across major indices, while European markets showed mixed performance. Commodities saw mixed movements with crude oil and natural gas declining, while gold and silver gained. US futures traded lower in the pre-market.
Oracle shares surged in pre-market trading after reporting better-than-expected earnings and announcing a new partnership with Amazon Web Services (AWS). Other notable movers included Silexion Therapeutics, Quoin Pharmaceuticals, and Actelis Networks, while Edgio, UTime Limited, and SmartKem saw significant declines.
Google, at the Global AI Summit in Riyadh, highlighted the importance of empowering users with fact-checking tools in response to the growing use of AI-generated content. The company emphasized the need for user education alongside collaboration with governments and regulatory bodies to combat the spread of misinformation.
CNBC’s ‘Halftime Report Final Trades’ segment featured insights on key stocks, including financials, oil, tech, and a new S&P 500 addition. Shannon Saccocia favored iShares U.S. Financials ETF, while Jim Lebenthal highlighted Exxon Mobil’s recent performance. Stephen L. Weiss saw value in Alphabet, and Joseph M. Terranova pointed out Palantir’s inclusion in the S&P 500.
Iraq, heavily reliant on oil revenue, faces a budget crunch in 2025 due to declining oil prices. Despite increasing the 2024 budget, the government is preparing for tighter financial discipline in the following year. The country is focusing on boosting non-oil revenue through better tax collection to mitigate the financial challenges.
KCAC Aviation, a leading provider of aviation services in the Midwest, is expanding its operations with the construction of a new state-of-the-art aircraft maintenance hangar at Johnson County Executive Airport (KOJC) in Olathe, Kansas. The new facility will significantly enhance KCAC’s capacity to service and maintain Pilatus and Piper aircraft, meeting the growing demands of the regional market.
U.S. defense giant Lockheed Martin and India’s Tata Advanced Systems have joined forces to manufacture and assemble the C-130J Super Hercules tactical airlifter in India. This strategic partnership aims to enhance India’s defense capabilities and strengthen bilateral ties between the two nations.
The global drone photography services market is poised for significant growth, with revenue projected to reach US$ 733.1 million in 2024 and an anticipated market size of US$ 4.07 billion by 2034. The demand for these services is driven by their accuracy in mapping and surveying, as well as their ability to gather precise graphical data. North America is expected to lead the market, fueled by robust IT infrastructure and supportive regulatory frameworks.
Tesla’s Cybertruck has come under fire for its durability after a video surfaced showing it crashing through a picket fence. However, Tesla engineer Wes Morrill clarified that the truck in the video had crucial safety components removed, potentially contributing to the damage. He also announced upcoming retrofit options for increased off-road protection, while addressing concerns about the truck’s performance in challenging terrain.
