The Federal Aviation Administration on Wednesday cleared the Boeing‘s 737 Max to fly again after a nearly two-year ban, a turning point in a protracted crisis for the aircraft giant stemming from two crashes of its top-selling plane that killed 346 people. “The design and certification of this aircraft included an unprecedented level of collaborative
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Relativity Space’s third generation 3D-printer in its new headquarters, with CEO Tim Ellis standing by for scale. Relativity Rocket builder and 3D-printing specialist Relativity Space is raising $500 million of fresh capital in a new round being led by Tiger Global Management, people familiar with the financing told CNBC on Tuesday. The new fundraise, expected
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In 2009, Airbnb was clawing towards “ramen profitability,” or just enough profit to pay for basic expenses — with the expression playing off the ultracheap instant Japanese noodles people famously eat when they are saving money, which today cost as little $4.80 for a 24 pack. That January, Airbnb’s co-founder and CEO, Brian Chesky, emailed
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These single-axle rolling campers are comforting, birch-wood wombs inspired by Danish design and made with all-American parts. The three Purser brothers who build them by hand want them to be used to help adventurers find solitude, sanctuary, and simplicity. Video by Zach Goldstein, Victoria Blackburne-Daniell ———- Like this video? Subscribe to Bloomberg on YouTube: http://www.youtube.com/Bloomberg?sub_confirmation=1
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Spencer Platt | Getty Images The safety net meant to protect unemployed workers from financial devastation is defective, and the coronavirus pandemic has starkly exposed its many shortcomings, economists argue in a new paper published by the Massachusetts Institute of Technology. The pandemic, which triggered the deepest economic downturn since the Great Depression in the
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A CVS Pharmacy store is seen in the Manhattan borough of New York City, New York. Shannon Stapleton | Reuters Pharmacy stocks fell sharply on Tuesday after Amazon launched its new Pharmacy offering, which includes online ordering and delivery for prescription drugs. Dow Jones Industrial average member Walgreens Boots Alliance dropped more than 11% in
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Customers shop at a Walmart store on May 19, 2020 in Chicago, Illinois. Scott Olson | Getty Images Walmart is set to report third-quarter earnings before the bell on Tuesday. The big-box retailer’s performance will offer a preview of how holiday shopping is shaping up during the coronavirus pandemic. Like other retailers, Walmart has kicked
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Gregg Lemkau, co-head of investment banking for Goldman Sachs & Co. Christopher Goodney | Bloomberg | Getty Images Goldman Sachs is losing one of its top dealmakers. Gregg Lemkau, a nearly-three decade veteran of the bank and co-head of its powerhouse investment banking division, is leaving Goldman at the end of the year, according to
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Lotus silk is one of the rarest fabrics in the world. Produced only in small scale across Cambodia, Myanmar, and more recently Vietnam, this natural fibre is only extracted by a few skilled craftspeople across the world. But making this “silk” isn’t easy. Extracting enough lotus silk for one scarf can take two months, and
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Moderna said preliminary phase three trial data shows its coronavirus vaccine is more than 94% effective in preventing Covid-19 — a result CEO Stephane Bancel called a “game-changer.” The analysis evaluated 95 confirmed Covid-19 infections among the trial’s 30,000 participants. Moderna, which developed its vaccine in collaboration with the National Institute of Allergy and Infectious Diseases,
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