Larry Ellison's massive net worth, Huawei’s new smartphone, and the WeWork founder's crypto bust: Business news roundup
It’s a good thing NASA sent the Boeing Starliner back to Earth empty because it had even more problems
Boeing’s (BA) first foray into manned space flight has been an unmitigated cock up. Starliner launched to the International Space Station with two astronauts onboard in June and landed back on Earth two months later without them after issues were uncovered with the craft. Now, more problems have surfaced during Starliner’s return, reaffirming NASA’s decision not to trust it with the lives of Butch Wilmore and Suni Williams.
The Airbus engine headache is getting bigger and bigger
Read more: Airbus wants to do to SpaceX what it did to Boeing
Airbus (EADSY) has been trying to take advantage of Boeing’s (BA) struggles, but instead it keeps running into problems of its own. The Wall Street Journal reports that engines for the company’s smaller A220 models are having durability issues that have kept many of the jets using them on the ground.
Larry Ellison is making so much money from AI that his net worth is approaching Jeff Bezos
The artificial intelligence boom has sent some shares and net worths soaring this year, including that of Oracle (ORCL) and its co-founder, Larry Ellison.
Huawei’s new smartphone has more than 3 million preorders as Apple launches its new iPhone
Apple’s (AAPL) main competition in China has over 3 million preorders for its smartphone as the iPhone maker prepares to unveil its latest model.
Huawei’s tri-fold Mate XT smartphone has received over 3.18 million preorders since September 7, according to its website. The Mate XT will be unveiled at an event on Tuesday, Richard Yu, Huawei executive director, said on Weibo.
An experimental weight loss drug’s side effects have Roche stock tumbling
Roche stock slid Monday morning after a conference poster highlighted data regarding the side effects patients experienced during an early-stage trial of its experimental weight loss drug.
Boeing Starliner has been a disaster. Here’s everything that went wrong
The Boeing Starliner finally plopped down in the New Mexico desert last week after spending three months in orbit. The beleaguered spacecraft suffered technical problems during its rendezvous with the International Space Station. It drastically prolonged the eight-day mission as engineers raced to identify the issue and fix a solution. Despite NASA allowing the Starliner to return, the space agency wasn’t willing to have astronauts Butch Wilmore and Suni Williams for their safety.
WeWork founder Adam Neumann is giving investors their money back after his crypto comeback tumbled
Former WeWork CEO Adam Neumann’s Flowcarbon — a climate tech startup that aimed to put carbon credits on the blockchain — has reportedly started refunding investors after failing to deliver on its promises.
Airbus wants to do to SpaceX what it did to Boeing
Airbus (AIR) really wants to achieve dominance in the space industry the way that it has in the commercial airline industry. Bloomberg reports that CEO Guillaume Faury said that its European Union competitors should consider merging to take on SpaceX the way it took on Boeing (BA).
Ozempic maker Novo Nordisk has an experimental anti-obesity pill with noteworthy early trial results
The pharma giant presented more details of a small trial of its weight loss pill
Boeing says it will listen to machinists more on safety with new union contract
Besides a huge 25% pay bump, machinists at Boeing scored another big win in their new union contract. The tentative agreement released by the International Association of Machinists and Aerospace Workers shows that the planemaker has promised its workers a seat at the table regarding safety practices.