Cuts at Boeing; da to Bud in Russia
●● Boeing plans to eliminate about 4,000 jobs from its commercial airplanes division by midyear as part of a broader effort to reduce costs amid strong competition from Airbus. The plane maker doesn’t plan any involuntary layoffs for now; the reductions will come among 1,600 workers who’ve elected to l eave under a voluntary program and through attrition. ●● The outlook for SunEdison darkened as the U.S. Securities and Exchange Commission probed whether the solarenergy giant lied to investors about cash reserves. Since early 2014, SunEdison has spent $3.3 billion to acquire renewableenergy projects, taking on sizable debt to do so. ●● Alaska Air Group and JetBlue Airways have put in bids to take over Virgin America, the carrier started by billionaire Richard Branson. Virgin, which started flying from San Francisco in 2007 and is now the ninth-largest airline in the U.S. by traffic, put itself on the market in March. ●● Budweiser is enjoying unlikely growth in Russia. Overall brewing output has fallen more than 30 percent in the country since 2008, but the head of Anheuser-Busch InBev’s Russian unit says sales of Budweiser are growing by double digits. Made in Russia and pitched as a premium beer, it appeals to younger drinkers. ●● MetLife defeated a U.S. attempt to label it too big to fail. In a sealed ruling, a federal judge rejected the Financial Stability Oversight Council’s arguments for classifying America’s largest life insurer as a systemically important financial institution. The designation would’ve put MetLife under closer government scrutiny and could have forced it to place more money in reserves.
Kuvée began selling a Keurig-style smart bottle for $199. It keeps wine fresh for 30 days after opening and has a touchscreen to order more bottles.