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Industry
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U.S. durable good order plunged 17%
The Commerce Department said Thursday that orders for durable goods dropped 17.2% last month after falling 16.6% in March. Excluding orders for transportation equipment, which can be volatile from month to month, durable goods orders fell 7.4%.
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Boeing cutting 12,000 jobs as it reopens Max production
Boeing had said it would cut 10% of a workforce that numbered about 160,000. A Boeing spokesperson said Wednesday's actions represent the largest number of job cuts, but several thousand additional jobs will be eliminated in the next few months.
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German court ruling sets way for Volkswagen settlement
Volkswagen said the decision announced Monday would clear the way for settlement of remaining consumer claims in Germany. The decision affects some 60,000 individual claims brought by car owners there; around 262,000 others have already been covered by an 830 million-euro ($904 million) class-action settlement.
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Malicious emails up 600% during pandemic
“There have also been worrying reports of attacks against health care organizations and medical research facilities worldwide.” Growing digital dependency has increased the vulnerability to cyberattacks, and “it is estimated that one such attack takes place every 39 seconds.”
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Mitsubishi Aircraft to close U.S. locations
“Due to the budget directives, Mitsubishi Aircraft will close its overseas locations and consolidate activities at its headquarters in Nagoya, Japan,” company spokesman Jeff Dronen told The Seattle Times via email. “This will impact the majority of our employees in the United States.”
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Verizon has announced its partners for 5G
On the consumer front, Verizon said it will be launching 5G service in parts of San Diego on 28 May; the company said 5G consumers will get upload speeds 30% faster than 4G. On the development side, it said it has adapted its seven 5G labs in the US and UK.
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