business

Business News: Huntington Ingalls Industries Completes Installation of USS George Washington (CVN 73) Main Mast

NEWPORT NEWS, VA (STL.News) – Huntington Ingalls Industries’ (NYSE:HII) Newport News Shipbuilding division has reached new heights in the refueling and complex overhaul (RCOH) of the aircraft carrier USS George Washington (CVN 73). The shipyard installed the final piece of the ship’s new main mast—the 34-foot upper mast section—that raises the ship’s distinctive profile 123 … Continue reading Business News: Huntington Ingalls Industries Completes Installation of USS George Washington (CVN 73) Main Mast

St Louis News: Upcoming Forum Focuses on New Business Projects in St. Louis

STL Business Diversity Forum Highlights Networking and Contract Opportunities ST LOUIS, MO (STL.News) – The St. Louis region is booming.  With a high volume of major projects on the horizon, there are new contract opportunities for small and large businesses. Business owners can get connected and learn about those projects at the 2019 Business Diversity … Continue reading St Louis News: Upcoming Forum Focuses on New Business Projects in St. Louis

Business News: JD.com’s Chief Technology Officer, Chen Zhang, Appointed To New Role As Senior Advisor

BEIJING (STL.News) – JD.com, Inc. (NASDAQ: JD), China’s leading technology driven e-commerce company and retail infrastructure service provider, today announced that Mr. Chen Zhang will be appointed to a new role as a senior advisor based in the United States and will depart from his full time role as the Chief Technology Officer of JD.com … Continue reading Business News: JD.com’s Chief Technology Officer, Chen Zhang, Appointed To New Role As Senior Advisor

Business News: Fox Set to Join S&P 500; Adobe to Join S&P 100

NEW YORK (STL.News) – S&P Dow Jones Indices (“S&P DJI”) will make the following changes to the S&P 500 & S&P 100: Fox Corp. (NASD:FOXAV;FOXBV) will be added to the S&P 500 prior to the open of trading on Tuesday, March 19.  Fox will replace Twenty-First Century Fox Inc. (NASD:FOXA;FOX), which will be removed from the S&P 500 … Continue reading Business News: Fox Set to Join S&P 500; Adobe to Join S&P 100

SEC News: SEC Charges Volkswagen, Former CEO With Defrauding Bond Investors During “Clean Diesel” Emissions Fraud

Washington DC (STL.News) – The Securities and Exchange Commission yesterday charged Volkswagen AG, two of its subsidiaries, and its former CEO, Martin Winterkorn, for defrauding U.S. investors, raising billions of dollars through the corporate bond and fixed income markets while making a series of deceptive claims about the environmental impact of the company’s “clean diesel” fleet. … Continue reading SEC News: SEC Charges Volkswagen, Former CEO With Defrauding Bond Investors During “Clean Diesel” Emissions Fraud

Business News: Lufthansa Group to Buy 20 Boeing 787 Dreamliner Jets

Largest airline group in Europe becomes the newest Dreamliner customer FRANKFURT (STL.News) – Boeing [NYSE: BA] and Lufthansa Group today completed an order for 20 787-9 Dreamliner airplanes.  With the deal, valued at up to $5.8 billion per list prices, the largest airline group in Europe becomes the latest customer for the fastest-selling widebody airplane … Continue reading Business News: Lufthansa Group to Buy 20 Boeing 787 Dreamliner Jets

Business News: World’s Largest Steam Locomotive Returns to the Rails as Union Pacific Commemorates Transcontinental Railroad’s 150th Anniversary

OMAHA, NE (STL.News) – Union Pacific announced the commemorative tour schedule for its historic steam locomotives, Big Boy No. 4014 and Living Legend No. 844.  The iconic steam locomotives will join together in a public display for the first time May 9 in Ogden, Utah, during Union Pacific’s celebratory event marking the transcontinental railroad’s 150th … Continue reading Business News: World’s Largest Steam Locomotive Returns to the Rails as Union Pacific Commemorates Transcontinental Railroad’s 150th Anniversary

US Navy News: US Navy Awards Raytheon $404 Million Contract for SPY-6 Radars

TEWKSBURY, MA (STL.News) – Raytheon Co., Integrated Defense Systems, Marlborough, Massachusetts, is awarded a $402,658,015 fixed-price-incentive (firm target) modification to previously-awarded contract N00024-14-C-5315 to exercise options for Air and Missile Defense Radar Program (AMDR) low-rate initial production (LRIP).  This modification will provide for three AMDR LRIP units.  The LRIP units will be deployed on DDG … Continue reading US Navy News: US Navy Awards Raytheon $404 Million Contract for SPY-6 Radars

Business News: Returning Astronauts To The Moon: Lockheed Martin Finalizes Full-Scale Cislunar Habitat Prototype

NextSTEP Habitat Prototype to Support NASA’s Gateway Architecture CAPE CANAVERAL, FL (STL.News) – For long-duration, deep space missions, astronauts will need a highly efficient and reconfigurable space, and Lockheed Martin (NYSE: LMT) is researching and designing ways to support those missions.  Under a public-private partnership as a part of NASA’s Next Space Technologies for Exploration … Continue reading Business News: Returning Astronauts To The Moon: Lockheed Martin Finalizes Full-Scale Cislunar Habitat Prototype

Business News: GE announces 2019 outlook

BOSTON, MA (STL.News) – GE (NYSE: GE) announced its 2019 outlook today as the company continues to execute against its strategic priorities of improving its financial position and strengthening its businesses. GE Chairman and CEO H. Lawrence Culp, Jr. said, “GE’s challenges in 2019 are complex but clear.  We are facing them head on as … Continue reading Business News: GE announces 2019 outlook

Business News: Intercontinental Exchange Extends Global Product Licensing Agreement with Eris Innovations

ATLANTA, GA (STL.News) – Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that it has extended its global product licensing agreement with Eris Innovations, an intellectual property licensing company that partners with global exchanges to design futures products based on its … Continue reading Business News: Intercontinental Exchange Extends Global Product Licensing Agreement with Eris Innovations

Business News: Federal Reserve Board permanently bars two former employees of Goldman Sachs, Tim Leissner and Ng Chong Hwa, from the banking industry

WASHINGTON (STL.News) – The Federal Reserve Board on Tuesday announced that it is prohibiting Tim Leissner and Ng Chong Hwa, also known as Roger Ng, from the banking industry for their participation in a scheme to illegally divert billions of dollars from a Malaysian sovereign wealth fund.  Leissner was also fined $1.42 million and consented … Continue reading Business News: Federal Reserve Board permanently bars two former employees of Goldman Sachs, Tim Leissner and Ng Chong Hwa, from the banking industry

US consumer prices rose 0.2 percent in February

WASHINGTON (AP) — U.S. consumer prices rose 0.2 percent in February, pushed up slightly by higher gasoline and housing costs even as the prices for autos and clothing slumped. The Labor Department said Tuesday that the consumer price index rose a modest 1.5 percent last month from a year ago. Inflation has been muted despite … Continue reading US consumer prices rose 0.2 percent in February

Estonian party start talks with populists despite promise

HELSINKI (AP) — A senior Estonian politician has resigned from the Center Party’s leadership to protest a decision to start government formation talks with a euroskeptic populist party that made big gains in last week’s general election — despite promises not to talk with them. Raimond Kaljulaid said Tuesday the Center Party and the nationalist, … Continue reading Estonian party start talks with populists despite promise

Boeing crashes alarm travelers, groundings snowball

JAKARTA, Indonesia (AP) — Fatal crashes of Boeing 737 Max 8 planes less than five months apart have alarmed the public, triggering a wave of groundings worldwide, but experts say reported similarities between the two disasters are not conclusive evidence of a shared cause. The Ethiopian Airlines crash Sunday which claimed 157 lives was the … Continue reading Boeing crashes alarm travelers, groundings snowball

At 30, World Wide Web ‘not the web we wanted,’ inventor says

GENEVA (AP) — At its ripe old age of 30 and with half the globe using it, the World Wide Web is facing growing pains with issues like hate speech, privacy concerns and state-sponsored hacking, its creator says. Tim Berners-Lee joined a celebration Tuesday of the Web and reminisced about where he invented it — … Continue reading At 30, World Wide Web ‘not the web we wanted,’ inventor says

With Ghosn gone, Nissan, Renault, Mitsubishi form new board

YOKOHAMA, Japan (AP) — The chief executives of Renault, Nissan and Mitsubishi have announced a new board to oversee the French-Japanese auto alliance, seeking a “new start” for the partnership after the arrest and dismissal of Nissan’s former chairman, Carlos Ghosn. “This is a very special day for the alliance,” Renault SA’s chairman, Jean-Dominique Senard, … Continue reading With Ghosn gone, Nissan, Renault, Mitsubishi form new board

Volkswagen vows to build 22 million e-cars over next decade

FRANKFURT, Germany (AP) — German automaker Volkswagen is saying it plans to ramp up its production of electric vehicles over the next ten years to 22 million and reduce its carbon footprint over vehicle life cycles by 30 percent. Previously the company said it would aim for 15 million. That’s ambitious considering it made fewer … Continue reading Volkswagen vows to build 22 million e-cars over next decade

Algeria’s president abandons bid for 5th term amid protests

ALGIERS, Algeria(AP)— Algeria’s president of two decades abandoned his bid for a fifth term Monday following unprecedented protests over his fitness for office, but his simultaneous postponement of an election set for next month had critics worried he intends to hold on to power. President Abdelaziz Bouteflika, who has rarely been seen in public since … Continue reading Algeria’s president abandons bid for 5th term amid protests

UAW chief raises strike pay, issues warning to automakers

DETROIT (AP) — The president of the United Auto Workers union warned automakers that the union is prepared to strike if it doesn’t get its way in upcoming contract talks. Gary Jones told delegates at the union’s bargaining convention in Detroit that it would raise weekly strike pay from $200 to $250 per week this … Continue reading UAW chief raises strike pay, issues warning to automakers

The Latest: Algeria to get new constitution, government

ALGIERS, Algeria (AP) — The Latest on the political situation and protests in Algeria (all times local): 7:50 p.m. Algerian state news agency APS says President Abdelaziz Bouteflika has named the interior minister in his government as the new prime minister. Interior Minister Noureddine Bedoui is close to the president’s brother. Bouteflika charged Bedoui with … Continue reading The Latest: Algeria to get new constitution, government

UK leader holds last-ditch Brexit talks with EU before vote

LONDON (AP) — Prime Minister Theresa May scrambled to win last-minute changes from the European Union to her Brexit deal Monday, a day before a crucial vote in Britain’s Parliament that could derail the country’s withdrawal from the EU — and cost May her job. May flew by Royal Air Force jet to Strasbourg, France, … Continue reading UK leader holds last-ditch Brexit talks with EU before vote

Boeing’s stock takes a hit as more Max 8 planes are grounded

BEIJING (AP) — Boeing’s stock plunged Monday as the list of countries and airlines grounding the Boeing 737 Max 8 planes continued to grow the day after one crashed in Ethiopia, killing all 157 people on board. The Ethiopian Airlines jet crashed shortly after it took off from Addis Ababa on Sunday, drawing renewed scrutiny … Continue reading Boeing’s stock takes a hit as more Max 8 planes are grounded

Markets Right Now: Stocks open higher, but Boeing sinks Dow

NEW YORK (AP) — The latest on developments in financial markets (all times local): 11:55 a.m. Technology stocks are powering broad gains on Wall Street, although a drop in Boeing is weighing on the Dow Jones Industrial Average. Apple is up 3.2 percent after an analyst upgraded the stock, while Nvidia is gaining 4.7 percent … Continue reading Markets Right Now: Stocks open higher, but Boeing sinks Dow

Tesla walks back its plan to close most showrooms

DETROIT (AP) — Tesla is walking back plans to close most of its showrooms worldwide and announced price hikes for most of its electric vehicles. Tesla announced last month that it would shutter most of its stores to cut costs so it could sell its lower-priced Model 3 for $35,000. The company continues its shift … Continue reading Tesla walks back its plan to close most showrooms

US retail sales up just 0.2 pct. as consumers stay cautious

WASHINGTON (AP) — U.S. retail sales rose slightly in January after a sharp drop in December, reflecting caution taken by consumers amid a government shutdown and volatile stock market. Retail sales increased just 0.2 percent, the Commerce Department said Monday, after a sharp fall of 1.6 percent in December, the biggest drop in 9 years. … Continue reading US retail sales up just 0.2 pct. as consumers stay cautious

Colorado residents seek to block major oil and gas project

DENVER (AP) — Frustrated residents of a Denver suburb say state law is forcing them to participate in a major oil and gas drilling project against their wishes, so they launched legal challenges with potentially significant consequences for the industry. Backed by a federal judge, they have a chance this week to ask state regulators … Continue reading Colorado residents seek to block major oil and gas project

Restive Algeria awaits decisive move from returned president

ALGIERS, Algeria (AP) — Algerian teenagers and lawyers held protests Monday, and workers held scattered walkouts, as their tense nation waits to see whether ailing President Abdelaziz Bouteflika offers any concessions in the face of unprecedented protests. Algerian media and protest leaders expect it could be a decisive day for the gas-rich North African country, … Continue reading Restive Algeria awaits decisive move from returned president