UK to Grow Faster Than European Peers for Two Years, IMF Says
In an update to its World Economic Outlook, the Washington-based economic supervisor raised its global growth forecasts to reflect both the improved trade backdrop and the fiscal stimulus from President Donald Trump's One Big Beautiful Bill Act.
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Yahoo
17 minutes ago
- Yahoo
Over 3,000 Boeing defense workers are on strike: What to know
Roughly 3,000 Boeing (BA) defense workers are on strike after the union rejected the company's contract. Yahoo Finance Senior Transportation Reporter Pras Subramanian breaks down the latest. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts. Boeing, um, some of its employees poised for a strike, the second latest strike that we've seen in less than a year. Yeah. Um, what do we, who does this affect, what do we know about it? How likely is it to actually happen? So, you're right, the defense unit is their workers are striking about 3,200 workers or so, uh, as compared to the, you know, 50,000 or so that they're working in the commercial unit, right? So, uh, they make the F-15 fighter jet, they're supposed to make the new upcoming next generation fighter, which is a big deal that Boeing won a contract for. Um, the defense business is profitable, um, which is more than you can say about the commercial business unit right now, but it's much smaller in terms of revenue. Boeing made about 22.6 billion last quarter, uh, but 6.6 of that was with the defense business. So it's a, you know, it's a nice chunk, but it's not the lion's share there. Uh, CEO Kelly Ortberg said during their earnings call that he said did not to worry about this strike, it was coming, they perhaps expected it, and he said it wouldn't have a significant impact on their business, uh, and that they probably see a resolution coming in the next month or so, but we'll see, you never know these things can extend. The last, apparently, the last strike for Boeing's defense workers was, I think, around 90 days, uh, um, maybe like 30 years ago. So, uh, it's a little rare. Right. but And the shares are not that much changed today, so it sounds like investors are, you know, they are reassured by what Ortberg has said. All right, thanks, Pras. Appreciate it. Yeah. Related Videos Boeing Defense Union Strikes for First Time Since 1996 Lamborghini's new $380K hybrid supercar redefines luxury tech Ford posts Q2 beat, but warns of tariff impact Lucid teams up with Timothée Chalamet Sign in to access your portfolio
Business Wire
18 minutes ago
- Business Wire
Eric Labaye Appointed as Chairman of Eutelsat
LONDON--(BUSINESS WIRE)-- The Board of Directors of Eutelsat (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) approved the co-optation of Eric Labaye as a Board member and his appointment as Chairman of Eutelsat Communications and Eutelsat SA on the occasion of the Board Meeting of 4 th August 2025. He succeeds Dominique D'Hinnin who had announced his decision not to seek the renewal of his mandate on February 14 th, 2025. Eric Labaye's appointment is effective on 4 th August 2025. At the same time, the Board of Directors approved other changes to the composition of the Board, notably the resignation of Michel Combes, effective 3 rd August 2025, and the co-optation of Lucia Sinapi-Thomas as an independent Board member. The Board also acknowledged the appointment of Guillemette Kreis (Agence des Participations de l'Etat - APE) as the representative of the French State. Following these changes, Eutelsat Communications' Board of Directors will be composed of 10 members, of which 6 Independent Directors. It will include five women, equating to a representation of 50%. The above changes take effect immediately. The incoming Chairman, Eric Labaye, will hold office until the next Shareholders General Meeting, where his appointment will be proposed for a full term. Sunil Bharti Mittal, Vice-President and Co-Chair of the Board, said: 'I want to thank Dominique D'Hinnin for his exemplary leadership of Eutelsat over the past eight years. Dominique oversaw the merger of Eutelsat and OneWeb that created Eutelsat Group as the first combined GEO/LEO satellite constellation, and ensured there is a European player at the forefront of satellite connectivity globally, including with the Iris² project. He added: 'I welcome the appointment of Eric Labaye as Chairman of Eutelsat Group to preside over the company in its next stage. Eric Labaye is a leader with immense experience that will be invaluable to Eutelsat in the years ahead. I look forward to working with Eric, Lucia and Guillemette and the full board to shape the future of Eutelsat.' Dominique D'Hinnin said: 'Eutelsat Group is now well positioned to provide its customers with a superior satellite-based connectivity service on a worldwide basis. I want to thank all the Eutelsat and OneWeb employees and the management team for their outstanding work, in a challenging competitive environment. Their dedication and skills are the main basis for the future success of the Eutelsat Group.' Jean-François Fallacher said: 'I extend my warmest thanks to Dominique D'Hinnin for his support as part of my joining Eutelsat. Dominique has successfully presided over a major step-change in Eutelsat's strategic journey, notably its telecom pivot, which positions Eutelsat as a unique player thanks to our unmatched portfolio of GEO and LEO solutions.' He added: 'I am delighted Dominique is passing the baton to Eric Labaye, a seasoned strategy and tech expert, and I look forward to working with Eric to take Eutelsat to the next level.' Eric Labaye said: 'I'm honoured and enthusiastic to join Eutelsat for a new chapter in its development and I want to thank the board members for their trust. I would like to pay tribute to Dominique D'Hinnin for his critical leadership in the strategic evolutions of the company. Eutelsat has outstanding fundamentals and unique assets to succeed in the innovative and fast-changing satellite connectivity sector. I look forward to working with the board, Jean-François Fallacher and the executive team of Eutelsat to fulfill the company mission. ' Éric Labaye has worked for over 30 years for international clients in the telecommunications, high-tech and industrial sectors, as well as governments and public institutions on a variety of strategic and operational issues. He is the president and co-founder of IDEL Partners, an advisory firm focusing on major development and transformation topics. He is also the chairman of the supervisory board of Ekimetrics, a leading AI solutions company, senior advisor at Antin Infrastructure Partners, independent member of the board of Rexel and was appointed in April 2024 Chairman of the Supervisory Committee of Investments for the Future in France. From 2018 to 2023, he was the Chairman and President of École Polytechnique, the elite French engineering school and of Institut Polytechnique de Paris, a top 40 global institution, of which he led the creation in 2019. Previously, Éric Labaye was a Senior Partner at McKinsey & Company, where he was Managing Director of the French office (2002-2010), led the firm's Global Knowledge and Communication Function as a member of the Global Executive Committee (2010-2013), chaired the McKinsey Global Institute (MGI), the firm's business and economics research arm (2010-2016) and was a member of the Firm's board for 9 years. A French national, Éric Labaye is a graduate of École Polytechnique and Télécom Paris and holds an MBA from INSEAD with distinction (Henry Ford II Prize). Lucia Sinapi-Thomas began her career in 1986 as a corporate lawyer and in tax law, before joining Capgemini in 1992. She has over 20 years' experience within the Capgemini group, in roles including Group Tax Director, Head of Corporate Finance, Treasury and Investor Relations, Risk Management and Insurance. She was Deputy CFO from 2013 to 2015 and took up the position of Executive Director Business Platforms in 2016. Since 2019, Lucia Sinapi-Thomas has been Executive Director of Capgemini Ventures. Board positions include Capgemini SE, Dassault Aviation, where she is a member of the Audit Committee, and Bureau Veritas where she was a member of the Audit and Risk Committee until May 2019, and has since been. A French national, Lucia Sinapi-Thomas is a graduate of ESSEC business school holds a master's degree in law from Paris II - Panthéon Assas was admitted to the Paris Bar as a lawyer in 1989. Guillemette Kreis is the Director of Shareholdings for Services and Finance at Agence des participations de l'État (APE), part of France Ministry for the Economy, Finance and Industrial and Digital Sovereignty. Prior to that, she held various roles in the French public sector and the international media industry. She began her career at the Ministry of Culture and Communication and the Prime Minister's Office in Paris, working on public broadcasting and media policy. From 2008 to 2017, she was based in London, where she worked for Fremantle (Bertelsmann), ITV plc, and All3Media Group in roles focused on strategy, mergers and acquisitions, and corporate development. At All3Media, she served as Executive Vice-President for Corporate Development, overseeing international strategy, investments, acquisitions, and shareholder relations. A French National, Guillemette Kreis is a graduate of Université Paris I – Sorbonne – master's in economics and HEC, Paris - Master of Science in Management ENDS About Eutelsat Communications Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of the Company and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 34 Geostationary (GEO) satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites. The Group addresses the needs of customers in four key verticals of Video, where it distributes around 6,400 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat Group's unique suite of in-orbit assets and ground infrastructure enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris and Eutelsat Group employs more than 1,600 people across more than 75 countries. The Group is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide. The Company is listed on the Euronext Paris Stock Exchange (ticker: ETL) and the London Stock Exchange (ticker: ETL). Find out more at DISCLAIMER The forward-looking statements included herein are for illustrative purposes only and are based on management's views and assumptions as of the date of this document. Such forward-looking statements involve known and unknown risks. For illustrative purposes only, such risks include but are not limited to: risks related to the health crisis; operational risks related to satellite failures or impaired satellite performance, or failure to roll out the deployment plan as planned and within the expected timeframe; risks related to the trend in the satellite telecommunications market resulting from increased competition or technological changes affecting the market; risks related to the international dimension of the Group's customers and activities; risks related to the adoption of international rules on frequency coordination and financial risks related, inter alia, to the financial guarantee granted to the Intergovernmental Organization's closed pension fund, and foreign exchange risk. Eutelsat Communications expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in this document to reflect any change in events, conditions, assumptions, or circumstances on which any such statements are based, unless so required by applicable law. The information contained in this document is not based on historical fact and should not be construed as a guarantee that the facts or data mentioned will occur. This information is based on data, assumptions and estimates that the Group considers as reasonable. Media enquiries Joanna Darlington Tel. +33 674 521 531 Anita Baltagi Tel. +33 643 930 178 Katie Dowd Tel. +1 202 271 2209 Investors Joanna Darlington Tel. +33 674 521 531 Hugo Laurens-Berge Tel. +33 670 80 95 58
Eater
18 minutes ago
- Eater
Another San Francisco Coffee Company Cashes Out
is the associate editor for the Northern California and Pacific Northwest region writing about restaurant and bar trends, coffee and cafes, and pop-ups. Philz Coffee will join the company with holdings in Popeyes and Cinnabon. Gado via Getty Images Another San Francisco-born-and-raised coffee company has taken a big buyout. Philz Coffee will sell to Los Angeles-based private equity firm Freeman Spogli & Co. for $145 million. More troubling, employees holding common stock in the business will see their shares cancelled under the agreement. Mission Local reported the news after acquiring documents pertaining to the deal. The deal is expected to be confirmed on Friday, August 8. Ferry Building hero closes after 21 years An original Ferry Building restaurant closed on Thursday, July 31. Boulettes Larder was a proper flagship in the marketplace. Chef Amaryll Schwertner and partner and Lori Regis ran the restaurant and its adjoining, more casual Bouli Bar. The San Francisco Standard reported the news with no reason given for shuttering. Boulettes Larder opened in 2004 when the remodeled Ferry Building opened to the public. Schwertner's menu was beloved for its commitment to old-school farm-to-table cooking. Divisadero sports bar shutters Majorly popular corner bar the San Francisco Athletic Club closed on Sunday, August 3. There was no closure reason given for the 11-year-old bar, but in a farewell Instagram post ownership said it's been a hard road since the pandemic. The bar was one of Lower Pac Heights's mainstay beer hangs. A new operator has already secured the lease and plans to keep the location as a sports bar. Plant-based burgers hit South Tahoe In a positive upshot for the region, vegan burger joint Malibu's is expanding. This time, the restaurant is opening inside Cascade Kitchens Tahoe, a new food hall and commissary kitchen. In an Instagram teaser, ownership says the new space will be helmed as a franchise by a longtime customer of the buzzy Oakland restaurant. Eater SF All your essential food and restaurant intel delivered to you Email (required) Sign Up By submitting your email, you agree to our Terms and Privacy Notice . This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
