Latest news with #AndrewLeft
Bloomberg
23-05-2025
- Business
- Bloomberg
Andrew Left's New Lawyer Says Case Doesn't Fit Trump Priorities
Short seller Andrew Left is making a new push to sway the US Justice Department to drop fraud charges filed against him last year, hiring a former federal prosecutor to make fresh arguments directly to the Trump administration. The strategy hinges on convincing the Justice Department that the case against Left isn't in line with President Donald Trump's enforcement priorities. It's an argument that could gain traction with a department that has already dropped some criminal cases as a result of the president's directives.
Yahoo
28-01-2025
- Business
- Yahoo
Boeing posts largest annual loss since 2020
- Boeing has reported its biggest annual loss since 2020 and negative adjusted free cash flow of $4.10 billion in the fourth quarter, as the embattled planemaker grapples with the fallout from a prolonged machinists strike, charges from U.S. government projects and expenses linked to a slew of job cuts. Analysts had anticipated negative adjusted free cash flow of $4.17 billion, according to Bloomberg consensus estimates. The announcement comes after the company warned last week that it will post a bigger-than-anticipated loss of around $4 billion in its most recent quarter. Boeing (NYSE:BA) posted a basic loss of $5.46 a share, matching a preliminary figure that equated to about $3.86 billion. Analysts had expected a per-share loss of $1.84, according to LSEG data cited by Reuters. Boeing has faced both increased scrutiny over its safety record and the impact of the COVID-19 pandemic in recent years, while 2024 began with a dangerous mid-air panel blowout on one of its 737 MAX planes. The incident, coupled with a now-resolved work stoppage by over 33,000 workers, weighed on the firm last year. Overall net losses for 2024 came in at $11.83 billion, deepening from a loss of $2.24 billion in the prior year. "My team and I are focused on making the fundamental changes needed to fully recover our company's performance and restore trust with our customers, employees, suppliers, investors, regulators and all others who are counting on us," said CEO Kelly Ortberg in a statement, who took over at the helm of the company last year. In the fourth quarter, Boeing's Commercial Airplanes division was hit by lower deliveries and a pre-tax earnings charge of $1.1 billion on its 777X and 767 programs, the firm said. Quarterly revenue at the unit slumped by 55% year-over-year to $4.76 billion. Its Defense, Space and Security segment, meanwhile, logged a $1.7 billion pre-tax charge stemming from its fixed-price development initiatives. In particular, its KC-46 tanker program, which uses the 767 airframe, booked an $800 million charge partly because of the strike, Boeing noted. Fourth-quarter revenues fell by 31% from a year-ago to $15.24 billion, while the full-year top-line figure slipped by 14% to $66.52 billion. Shares in Boeing were hovering just above the flatline in premarket U.S. trading on Tuesday. Related Articles Boeing posts largest annual loss since 2020 S&P, Nasdaq futures steady after tech rout, earnings in focus Short seller Andrew Left seeks to dismiss US fraud case, filing shows Sign in to access your portfolio
