Business News

Boeing says it will take $1 billion hit on grounding of the 737 Max jet

Boeing says it will take $1 billion hit on grounding of the 737 Max jet

Wolterk/iStock(NEW YORK) — Boeing announced Wednesday that it was taking an initial $1 billion hit on the grounding of the 737 Max jet following two fatal plane crashes in five months.The company also abandoned its previous full-year financial outlook as it grapples with the aftermath of the 737 Max fallout and works to implement software…

Class-action lawsuit filed over popular baby sleeper

Class-action lawsuit filed over popular baby sleeper

iStock(NEW YORK) — The latest rumble in the fallout over the Rock N’ Play baby sleeper comes in the form of a class action lawsuit.The suit was filed by one named mother, Cassandra Mulvey, on behalf of herself and others, against Fisher Price and Mattel, who the suit claims marketed the product as safe for…

Criminal charges filed against drug executive for opioids

Criminal charges filed against drug executive for opioids

iStock/sdominick(NEW YORK) — Federal prosecutors charged drug distributor Rochester Drug Cooperative and its former CEO with drug trafficking charges Tuesday — the first criminal charges for a pharmaceutical company and executives in the nation’s ongoing opioid crisis. The charges signify a groundbreaking move by the government to try to combat the opioid epidemic, which kills…

Samsung delays launch of $2,000 folding phone after problems with review units

Samsung delays launch of $2,000 folding phone after problems with review units

holgs/iStock(NEW YORK) — Samsung is delaying the rollout of its $2,000 foldable phones after several tech reviewers reported that their review units became damaged within a day or two of using them.The Galaxy Fold, which was originally slated to start shipping to consumers on April 26. A new ship date was not specified, but the…

With FAA certification, Google’s drone company set to start deliveries in Virginia

With FAA certification, Google’s drone company set to start deliveries in Virginia

Interim Archives/Getty Images(BLACKSBURG, Va.) — With the Federal Aviation Administration’s historic certification, Wing Aviation’s drone deliveries are set to arrive in Virginia. U.S. Department of Transportation Secretary Elaine Chao announced Tuesday that the FAA awarded air carrier certification to Google’s Wing Aviation, the first drone delivery company to be awarded one, according to a FAA…

Kohl’s to expand its Amazon returns program this summer

Kohl’s to expand its Amazon returns program this summer

SweetBabeeJay/iStock(MENOMONEE FALLS, Wisc.) — Affordable fashion retailer Kohl’s has announced that it is expanding its Amazon returns program this summer.All 1,150 Kohl’s locations will accept opened packages starting in July for free, Kohl’s said in a statement. Eligible items will not need a box or label to be returned.The partnership is a result of a…

Oscar Munoz, CEO of United Airlines, on the changing industry and customer expectations

Oscar Munoz, CEO of United Airlines, on the changing industry and customer expectations

Niall_Majury/iStock(WASHINGTON) — United Airlines CEO Oscar Munoz thinks airlines are reaching a breaking point with shrinking seat sizes.”I think we are nearing a point certainly that we can’t do that anymore,” he told ABC News’ Senior Transportation Correspondent David Kerley.Munoz acknowledged having to stay competitive with peers and match many of their moves, but he…

Samsung delays release of Galaxy Fold over display issues

Samsung delays release of Galaxy Fold over display issues

Justin Sullivan/Getty Images(NEW YORK) — The company announced it would be delaying the rollout of the Galaxy Fold after initial reviews highlighted flaws in display screens.”Initial findings from the inspection of reported issues on the display showed that they could be associated with impact on the top and bottom exposed areas of the hinge,” Samsung…

Purdue Pharma tries to ‘cry poverty’ in lawsuit over opioid epidemic, Connecticut attorney general says

Purdue Pharma tries to ‘cry poverty’ in lawsuit over opioid epidemic, Connecticut attorney general says

Moussa81/iStock(NEW YORK) — The embattled maker of OxyContin is attempting to “cry poverty” to avoid accountability for the company’s role in the nation’s opioid epidemic, Connecticut Attorney General William Tong said Monday, as the state expanded its lawsuit against Purdue Pharma.Tong filed an amended lawsuit that alleged hundreds of millions of dollars were fraudulently transferred…

Boeing says it will take $1 billion hit on grounding of the 737 Max jet

Boeing says it will take $1 billion hit on grounding of the 737 Max jet

Wolterk/iStock(NEW YORK) — Boeing announced Wednesday that it was taking an initial $1 billion hit on the grounding of the 737 Max jet following two fatal plane crashes in five months.The company also abandoned its previous full-year financial outlook as it grapples with the aftermath of the 737 Max fallout and works to implement software…

Class-action lawsuit filed over popular baby sleeper

Class-action lawsuit filed over popular baby sleeper

iStock(NEW YORK) — The latest rumble in the fallout over the Rock N’ Play baby sleeper comes in the form of a class action lawsuit.The suit was filed by one named mother, Cassandra Mulvey, on behalf of herself and others, against Fisher Price and Mattel, who the suit claims marketed the product as safe for…

Criminal charges filed against drug executive for opioids

Criminal charges filed against drug executive for opioids

iStock/sdominick(NEW YORK) — Federal prosecutors charged drug distributor Rochester Drug Cooperative and its former CEO with drug trafficking charges Tuesday — the first criminal charges for a pharmaceutical company and executives in the nation’s ongoing opioid crisis. The charges signify a groundbreaking move by the government to try to combat the opioid epidemic, which kills…

Samsung delays launch of $2,000 folding phone after problems with review units

Samsung delays launch of $2,000 folding phone after problems with review units

holgs/iStock(NEW YORK) — Samsung is delaying the rollout of its $2,000 foldable phones after several tech reviewers reported that their review units became damaged within a day or two of using them.The Galaxy Fold, which was originally slated to start shipping to consumers on April 26. A new ship date was not specified, but the…