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The Star
2 days ago
- Business
- The Star
Beta Technologies conducts first all-electric aircraft landing
Aerospace manufacturer BETA Technologies' electric aircraft, ALIA, taxis at John F. Kennedy Airport with the lower Manhattan skyline in the background in New York City, U.S., June 3, 2025. It is the first Advanced Air Mobility flight into JFK Airport. REUTERS/Kylie Cooper (Reuters) - Beta Technologies became the first U.S. company to land an all-electric aircraft at an airport in the New York-New Jersey region, the company and port authorities said in Tuesday. The flight to New York's John F. Kennedy International Airport flew 45 minutes with a pilot and four people, they said in a statement. Transportation companies, including airlines, are looking to develop services using electric battery-powered aircraft that can take off and land vertically to ferry travelers for short city trips, allowing them to beat traffic. In October, the Federal Aviation Administration finalized comprehensive training and pilot certification rules for flying air taxis, calling it "the final piece in the puzzle for safely introducing these aircraft in the near term." In the same month, Beta raised $318 million in equity capital to fund production, certification, and commercialization of electric aircraft, bringing its total raised value to more than $1 billion. The Vermont-based company was founded in 2017. "After years of rigorous safety testing in all types of environments, we're proud to stand here with the Port Authority and the city of New York to demonstrate exactly how this aircraft can serve cities by easing congestion, reducing emissions, and increasing accessibility," Kyle Clark, CEO and founder of the privately held company, said in the statement. (Reporting by Aishwarya Jain in Bengaluru; Editing by Maju Samuel)
Boston Globe
2 days ago
- Business
- Boston Globe
PVDFest will roar back to downtown Providence Sept. 5-6. Here's what to expect.
During a press conference at the 'PVDFest continues to not only be one of the region's most beloved and celebrated art, music, and cultural festivals,' he said. 'But also an important driver of tourism and pillar of economic development here within our great city.' Get Globe Rhode Island Food Club A weekly newsletter about food and dining in Rhode Island, by Globe Rhode Island reporter Alexa Gagosz. Enter Email Sign Up In 2024, downtown welcomed more than 75,000 attendees, generating $3 million in economic impact for the city. It also engaged more than 400 artists from Providence and beyond. Advertisement Smiley's administration has provided some early details of what to expect. The Drink Rink For those who 'like to imbibe,' as Wilson called it, the Providence Rink will be transformed into the 'Drink Rink.' A bar experience will be built out by Anthony Santurri, the owner of 'All weekend long ink the rink will feature EDM and disc jockey music from DJs, both locally and nationally,' said Wilson. Advertisement The Providence City Center Rink in downtown. City of Providence Mural unveils As part of the city's celebration of Also returning this year is the PVDFest Mural Battle, which will be produced by acclaimed Providence artist Angela Gonzalez, a muralist who is know as Agonza, in front of her mural located at the Hartford Park housing development. Jonathan Wiggs/Globe Staff Battle of the Bands Local arts and music publication Motif Magazine is teaming up with the festival to present a Battle of the Bands, which will highlight Rhode Island's emerging music scene and give local bands a chance to take the PVDFest stage. There will be four to six qualifying rounds taking place at People waving during Denis Graca's performance at PVDFest in downtown Providence, R.I., on Sept. 7, 2024. Kylie Cooper for The Boston Globe Hip hop competition The Road to PVDFest, curated by Wilson and artist FirstWorks Spectacle: Squonk's Brouhaha Each PVDFest is crowned by a spectacle. This year, Brouhaha will take center stage. It's the newest performance from Squonk, the genre-defying multimedia ensemble from Pittsburgh. The performance fuses visual theater, boisterous music, and an invitation for the audience to join in. Festivalgoers will inflate the massive accordion, and parade through the streets to help summon a 30-foot puppet, before a crescendo of sound and spectacle begins. Advertisement Artists paint during PVDFest in downtown Providence, R.I. on Saturday, Sept. 7, 2024. Kylie Cooper for The Boston Globe Frequencies of PVD Frequencies of PVD will celebrate the city's ever-evolving DJ scene, shining a light on innovators and culture-shapers who are redefining the sound of the city. This year, the city is partnering with three groups. Keep It Movin' will bring a mix of house, afrohouse, jersey club, and freestyle. Squonk performed in Kennedy Plaza at PVDFest in 2022. Glen Osmundson Upcoming announcements Other music performances, food vendors, and other aspects of the festival will be announced in the coming months. The Food trucks line Kennedy Plaza during PVDFest. Matthew Healey for The Boston Globe Alexa Gagosz can be reached at
The Star
4 days ago
- Business
- The Star
Apple challenges 'unreasonable' EU order to open up to rivals
People walk by the Apple store on Fifth Avenue in New York City, U.S., May 1, 2025. REUTERS/Kylie Cooper/File Photo (Reuters) - Apple has submitted a legal challenge to an EU order to open up its closed ecosystem to rivals such as Meta and Alphabet's Google, saying the demands are unreasonable and hamper innovation. The European Commission had in March detailed how Apple must comply with the Digital Markets Act, which aims to rein in the power of Big Tech. Apple said the EU's interoperability requirements create "a process that is unreasonable, costly, and stifles innovation". "These requirements will also hand data-hungry companies sensitive information, which poses massive privacy and security risks to our EU users," it said in a statement. "These deeply flawed rules that only target Apple - and no other company - will severely limit our ability to deliver innovative products and features to Europe, leading to an inferior user experience for our European customers." Meta, Google, Spotify and Garmin are among companies that have requested access to Apple users' data. The legal fight will likely take years to play out in court. Until then, Apple will have to comply with the EU order. The Commission ordered Apple to give rival makers of smartphones, headphones and virtual reality headsets access to its technology and mobile operating system so they can connect with Apple's iPhones and iPad tablets. It also set out a detailed process and timeline for Apple to respond to interoperability requests from app developers. (Editing by Kevin Liffey)
Straits Times
23-05-2025
- Business
- Straits Times
Trump re-escalates trade threats, takes aim at European Union, Apple
FILE PHOTO: A person walks by the Apple store on Fifth Avenue in New York City, U.S., May 1, 2025. REUTERS/Kylie Cooper/File Photo U.S. President Donald Trump threatened once again on Friday to intensify his trade war, recommending a 50% tariff on European Union goods starting June 1, and warning Apple he may impose a 25% tariff on any iPhones manufactured outside the U.S. The twin threats, delivered via social media, roiled global markets after weeks of de-escalation had provided some reprieve. The S&P 500 fell 1.2% in early trading, the Nasdaq fell 1.5%, and European shares fell 1.7%. Shares in Germany's carmakers and luxury companies, some of the most exposed to tariffs, fell on the news. Porsche, Mercedes and BMW were down between 2% and 4.5% at 1320 GMT. Sunglasses company EssilorLuxottica was 5.5% lower. Shares of Apple fell 3.7% in premarket trading, along with shares of other technology bellwethers. Trump did not give a timeframe for his warning to Apple. More than 60 million phones are sold in the United States annually, but the country has no smartphone manufacturing. "The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with," Trump wrote on his Truth Social site. "Our discussions with them are going nowhere!" The EU Commission on Friday declined to comment the new 50% tariff threat, saying it would wait for a phone call between EU trade chief Maros Sefcovic and his U.S. counterpart Jamieson Greer at 1500 GMT. Envoys from the 27 EU countries are due to meet on trade in Brussels later on Friday. EU's total exports to the United States last year totaled about 500 billion euros, with Germany (161 billion euros), Ireland (72 billion euros) and Italy (65 billion euros) the three largest exporters. Pharmaceuticals, cars and auto parts, chemicals and aircraft were among the largest exports, according to EU data. "The EU is one of Trump's least favorite regions, and he does not seem to have good relations with its leaders, which increases the chance of a prolonged trade war between the two," said Kathleen Brooks, research director at XTB. Export-oriented car companies in Europe, most notably Germany's major automakers, are heavily exposed, with few near-term options other than smaller discounts and price increases. Porsche and Volkswagen's Audi have no U.S. including Audi and Volvo Cars, have already said they will move some production. Volvo Cars CEO Hakan Samuelsson told Reuters on Friday that customers would have to pay a large part of tariff-related cost increases, and that it could become impossible to import the smallest cars in the company's lineup to the United States. But he remained hopeful that Europe and the United States will soon come to an agreement. "I believe there will be a deal soon. It could not be in the interest of Europe or the U.S. to shut down trade between them," Samuelsson said. OPTIMISM 'WIPED OUT' Trump had sent markets reeling in early April after imposing tariffs on almost every inhabited locale around the world, including a massive tax of about 145% on imported goods from China. Investors responded by furiously selling U.S. assets, as the levies caused them to question the safe-haven status that America has long enjoyed, and while markets have recovered, business and consumer confidence has plunged in the United States. The shock response forced the White House to pause most tariffs through early July, leaving in place a 10% tax on most imports from other nations and 30% on most Chinese goods. But Trump held out the possibility of reviving certain levies. The White House has been in negotiations with numerous countries over trade issues, but progress has been unsteady. Finance leaders from the Group of Seven industrialized democracies tried to downplay disputes over the tariffs earlier in the week at a forum in the Canadian Rocky Mountains. "All the optimism over trade deals wiped out in minutes – seconds, even," wrote Fawad Razaqzada, market analyst at City Index and in a note on Friday. TARGETING APPLE "I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else," Trump said in a post on Truth Social on Friday morning, referring to the Apple CEO. "If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S." It is not clear whether a tariff on an individual company would face legal hurdles. Apple declined to comment on Trump's threat. In response to market upheaval, the White House had granted exclusions from steep tariffs on smartphones and some other electronics imported largely from China, a break for Apple and other tech firms that rely on imported products. Apple aims to make most of its iPhones sold in the United States at factories in India by the end of 2026, and is speeding up those plans to navigate potentially higher tariffs in China, its main manufacturing base, a source told Reuters. But Trump and others, including Commerce Secretary Howard Lutnick, have suggested Apple could make iPhones in the United States. In February, Apple said it will spend $500 billion over four years to expand hiring and facilities in nine American states, but it did not say the investment would go towards bringing iPhone manufacturing to the U.S. The iPhone maker said most of its smartphones sold in the United States would originate from India in the June quarter. "It is hard to imagine that Apple can be fully compliant with this request from the president in the next 3-5 years," D.A. Davidson & Co analyst Gil Luria said. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
The Star
20-05-2025
- Business
- The Star
Nike cuts some jobs in technology division
A Nike store is seen in New York City, U.S., April 2, 2025. REUTERS/Kylie Cooper/File Photo (Reuters) -Sportswear retailer Nike is laying off some of its employees in its technology division, a company representative told Reuters on Monday. Nike will shift some of that work to third-party vendors, the representative said in an email, adding that the changes were announced last week. The representative did not specify how many employees were laid off. It is not immediately clear how many people work in Nike's technology division. Bloomberg News first reported the development earlier on Monday. The Air Jordan maker in March forecast a steeper drop in fourth-quarter revenue than analysts had expected, striking a cautious tone as it works to rekindle interest among consumers who have defected to trendier rivals. Earlier this month, Nike CEO Elliott Hill made several changes to the senior leadership team. Hill took the helm in October to lead a turnaround at a company that has lately struggled to design new and innovative shoes. (Reporting by Chandni Shah in Bengaluru and Nicholas Brown in New York; Editing by Sonia Cheema)
