Cuts at Boe­ing; da to Bud in Rus­sia

Bloomberg Businessweek (Asia) - - CONTENT - By Ira Boudway

●● 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.

Bos­ton-based startupKu­vée 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.

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