Business

US aviation giant Boeing posted quarterly losses of $5.4 billion (roughly €4.6 billion) on Wednesday. This was prompted in large part by a $5 billion penalty for pushing back the first delivery of its long-delayed 777X model until 2027. The loss includes compensation payable to customers facing delayed deliveries, Boeing said. Delayed widebody a financial and an opportunity cost Last month, CEO Kelly Ortberg had said the company was behind schedule in certifying the jet and that a "mountain of work" still needed to be done. But he had not announced further delays beyond the 2026 delivery date that was planned at the time. The 777X is losing ground to Airbus' A350, precisely as longer-distance international air travel starts to rebound after COVIDImage: Lewis Joly/AP/dpa/picture allianc...

Oliver Blume is to step down as the CEO of German sports carmaker Porsche, the firm said on Friday. He also serves in the same role in Volkswagen Group, Porsche's parent company, a dual position that has attracted significant criticism amid years of struggles for the German car industry. Blume will remain at the helm of Volkswagen, Porsche's supervisory board said in a statement. He has been CEO of Porsche since 2015 and took over at Volkswagen in 2022 after the resignation of Herbert Diess. Porsche said that Blume's likely replacement is Michael Leiters, who had previously served as the CEO of UK-based sports car company McLaren.Shareholders argued against Blume's dual position at Porsche and its ailing parent company, Volkswagen GroupImage: Arnulf Hettrich/imageBROKER/picture allianc...

Amazon's cloud services unit, AWS, which provides computing power, data storage and other digital services to companies, governments and individuals, experienced an outage Monday. The disruption caused widespread connectivity issues for major online companies around the world. According to the internet services monitoring platform Downdetector, Amazon's own shopping website, Prime Video and Alexa all faced problems. AWS identified the issue as a problem with a regional gateway on the US East Coast. Hours later, it said "underlying DNS issue has been fully mitigated," with services returning to normal operations at 18:00 Eastern Time (00:00 CET). Disruption hits internet services The AWS outage was the most significant internet disruption since last year's CrowdStrike failure, which c...

Factories shut for over a month and suppliers suffered in particular. A report puts the costs at around $2.5 billion, making it the most economically damaging cyber event ever to hit the UK.

The European Commission says the tech giants may have made it hard for researchers to access public data, which could impact research into whether users, including children, are being exposed to harmful content online.

Secondhand is winning two-to-one on my clothing rack. It makes sense. I grew up thrifting. I'll never forget the thrill of digging up the navy-blue plush hoodie of my dreams at one of the countless flea markets I visited with my mom as a kid. But today, I'm on a smaller mission for a basic black t-shirt because I'm over the ones I have. Since I found that hoodie, secondhand has had a serious glow up. Small, chaotic charity shops like Goodwill or Oxfam have given way to minimalistic vintage boutiques where a used shirt can cost more than a new one. And it's big business. In 2024, the global secondhand apparel market was worth $227 billion (€194 billion) — as much as Apple's yearly sales, according to retail analyst Neil Saunders. Younger Gen Z and millennial consumers are driving the thri...

The US Federal Reserve , commonly known as the Fed, lowered its benchmark rate Wednesday by a quarter percentage point, the first such cut since last year. It cut the benchmark lending rate to a range between 4.0% and 4.25%. The Fed paused its easing cycle in January due to uncertainty over how President Donald Trump's import tariffs might affect inflation and the overall economy. It said Wednesday's cut was warranted as, "downside risks to employment have risen" even as inflation has "moved up and remains somewhat elevated." Although inflation remains slightly above the Fed's target rate of 2%, data shows hiring has slowed to a halt in recent months, while the unemployment rate has risen.  Lowering interest rates, and reducing borrowing costs, is tool used by central banks to boost h...

Auckland, NZ – August 25, 2025 – Superior Renovations, Auckland's premier home renovation company, is excited to announce the launch of Sonder Architects, its dedicated architectural department. This new initiative, led by the accomplished architect John Mao, aims to streamline the renovation process by providing specialized architectural services tailored to consent-required projects. With a team of seasoned designers, Sonder Architects is set to simplify consents, enhance design precision, and ensure seamless integration from concept to completion. Founded by Kevin Yang and Steven Ngov, Superior Renovations has built a reputation for transforming homes with a unwavering commitment to quality, innovation, and client satisfaction. Over the years, the company has completed countless projec...

AI is changing the way we gather information and seek advice, including when we’re making big life decisions. From meal plans and budgeting tools to home workouts and school homework help, platforms like ChatGPT, Gemini and CoPilot are now regular parts of everyday Kiwi life. So it makes sense that people are using AI to learn about financial products, including life insurance. But how much should you rely on AI when it comes to something as important and personal as protecting your family’s future? Let’s take a closer look. Where AI gets it right AI is a great starting point - especially if you’re completely new to life insurance. When asked things like “Do I actually need life insurance in NZ?” or “How much does life insurance cost in NZ?”, AI usually gives a clear, simple explanatio...

Auckland businesses continue to invest in websites that load fast, convert reliably, and scale with growth. This ranking recognises five agencies serving the region with consistent delivery, clear pricing or value, and transparent service scopes.Our selection criteria Proven focus on small to mid-sized business outcomes, not just portfolio polish. Clear positioning or specialist capability such as AI workflow, Shopify, or WordPress Public evidence of services, promises, or results on official pages or partner directories Auckland presence or New Zealand coverage with Auckland clientsThe 2025 List 1) Kiwi Web Design (Auckland) Kiwi Web Design leads this year’s list for its AI-first production workflow and small-business pricing. The agency advertises starter Wo...