Author: Bloomberg
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Boeing on track to generate billions in cash next year
Boeing Co. expects to generate cash again in 2026, a significant reversal in the plane-maker’s finances as it prepares to boost monthly production rates of its passenger aircraft. The U.S. company expects positive free cash flow to reach the “low-single digits” billions of dollars next year, reversing the $2 billion cash burn seen for 2025,…
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HP announces job cuts as profit outlook falls short of estimates
HP Inc. gave a profit outlook for the current year that fell short of estimates and the company said it will cut 4,000 to 6,000 employees through fiscal 2028 by using more AI tools. The PC and printer maker will exit 2028 with gross savings of $1 billion annually as a result of the cuts. The…
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Trump administration says lower prices for 15 Medicare drugs will save taxpayers billions
NEW YORK — Pharmaceutical companies have agreed to slash the Medicare prices for 15 prescription drugs after months of negotiations, reductions that are expected to produce billions in savings for taxpayers and older adults, the Trump administration said. But the net prices it unveiled for a 30-day supply of each drug are not what Medicare recipients will…
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Companies are warming up to saying AI is the reason for job cuts
In late September, the German airline Deutsche Lufthansa AG told analysts and investors that it planned to eliminate 4,000 administrative positions by the end of the decade. Among the reasons it cited was “the increased use of artificial intelligence.” Weeks later, Dutch lender ING Groep NV said nearly 1,000 positions were at risk from “digitalization, AI, and evolving customer…
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Google launches new Gemini AI model with interactive answers
Alphabet Inc.’s Google on Tuesday debuted an updated version of its artificial intelligence model, Gemini, that executives said represents a “massive jump” in reasoning and coding ability. The new model, Gemini 3, will be available immediately across all of Google’s major products, including search, and can answer questions with interactive graphics. Gemini 3, like its predecessor, can…
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Threats fuel $19.5 billion homebuilders plunge
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President Donald Trump and Federal Housing Finance Agency Director Bill Pulte are fueling a deeper selloff in already struggling homebuilder stocks. A series of social media posts, from the U.S. president over this past weekend and then from the FHFA director and real estate scion Pulte on Wednesday, contributed to a four-day losing streak for…