Headlines 

Boeing committee expected to make safety recommendations this week

Washington (CNN Business)A small committee from Boeing’s board is expected to deliver safety recommendations to the full board this week, according to a source with knowledge of the situation. The committee is expected to call for changes to the company’s structure including the creation of new groups focused on safety and urge the company to make changes to airplane cockpits to accommodate new pilots who may have less training, the source said. The committee will recommend that Boeing (BA) engineers first report safety concerns, which may slow development, to the…

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145 CEOs sign a letter pleading with Congress to address gun violence

New York (CNN Business)145 business leaders have signed a letter demanding the US government take action on gun violence. The business leaders say the proposals outlined in their letter are “bipartisan” and “widely supported by the American public.” The group primarily includes CEOs from tech, media and startups. Major names on the list include Airbnb CEO Brian Chesky, Lyft (LYFT) cofounders Logan Green and John Zimmer, Uber (UBER) CEO Dara Khosrowshahi, Twitter (TWTR) CEO Jack Dorsey, Levi Strauss (LEVI) CEO Chip Bergh and Thrive Global founder Arianna Huffington. Two notable…

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Saudi Arabia fires its oil minister for the second time in 3 years

London (CNN Business)Saudi Arabia has a new oil minister. Prince Abdulaziz is Crown Prince Mohammed bin Salman’s half brother and has been a member of Saudi Arabia’s delegation to OPEC for many years. He becomes the first member of the royal family to serve as oil minister. His appointment breaks with long standing tradition and follows the removal of al-Falih as chairman of the giant state-owned oil company Saudi Aramco just last week. The leadership changes are the latest in a string of developments to prepare Aramco to go public…

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It’s now easier than ever for US small businesses to go bankrupt | Gene Marks

Reorganizing under chapter 11 of the bankruptcy code has been too onerous and expensive a task but the Small Business Reorganization Act provides relief With the economy relatively strong and most small businesses doing pretty well, this may not seem like the most opportune time to be thinking of bankruptcy. But lets face it: when the economy ultimately turns downwards, many small businesses are going to face financial hardship. And many of those may very well be forced into bankruptcy. In the past the problem has been that getting a…

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In Belgium, a 21-Year-Old Is Making$50,000 Watches

Source: Hodinkee The "Old Mind" series consists of two prototypes, each featuring a different style of hand- pattern on the dial, and a 60-second tourbillon movement. This is the break-out model from Van Bricht, a fledgeling high horology out of Belgium. Two young watchmakers teamed up to form the brand, and they plan to make 25 examples of these watches.  Source: Hodinkee Bernard, at 21 years old, hasn't wasted any time making his name as a top  around Europe. While he's trained in watchmaking, it's the old art of hand engraving and engine…

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4 People Dead, 29 Missing in California Boat Fire

Source: Ventura County Fire Department via AP Los Angeles (AP) — The Latest on a dive boat on fire off the coast of California (all times local): 1:15 p.m. The boat with 33 passengers aboard that burned while anchored close to shore of one of Southern California's Channel Islands had no recent safety violations. The Santa Barbara-based Conception was carrying recreational scuba divers and caught fire early Monday. Five crew members jumped to safety but all 33 passengers were missing. Four bodies were later recovered and the search for others…

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Can Burger King’s meat-free burger attract the climate conscious?

Chains are jumping on the meat-substitute bandwagon but some experts say vegetarian options could boost beef sales The moment I walk out of Burger King with a warm bag of vegetarian Impossible Whoppers, a plastic voucher is thrust into my hand. Have you tried Dunkin Donuts Beyond Sausage breakfast sandwich? a woman asks. It is meatless! Dunkin (11 years left to tackle. Veggie options no longer vie for a dusty corner of the menu in fast-food chains. Now they are jockeying to appeal to climate-conscious young people. Plant-based choices are…

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How do you get a loan when your business is in the ‘wrong’ part of town?

A study has found that businesses in lower-income and minority areas received surprise a smaller share of bank loans than those in richer, whiter areas Want to improve your relationship with your banker? The answers easy: just move your business to a nicer part of town. Unfortunately, thats the very real problem faced by many small businesses around the country who are located in lower-income or minority areas. This conclusion was reached in a told the Woodstock Institute. Beard cannot obtain a traditional bank loan so her new business, Marys…

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Viagra and EpiPen drugmakers form a $20-billion-a-year powerhouse

New York (CNN Business)Pfizer and Mylan announced they are combining two of their businesses to create a global powerhouse in the low-price drug market. The management team will include people from Mylan and Upjohn. Mylan’s current chairman, Robert Coury, will be its executive chairman and Upjohn’s current president, Michael Goettler, will be the CEO. Mylan’s current CEO, Heather Bresch, will retire after the deal closes. Mylan’s (MYL) stock is up 15% in early trading. Pfizer’s (PFE)stock is down nearly 3%. Both drugmakers recently lost exclusive rights to manufacture drugs that…

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Odds and Ends 

WeWork CEO Adam Neumann has reportedly cashed out of over $700 million ahead of its IPO

Adam Neumann, the co-founder and chief executive of the international real estate co-working startup WeWork has reportedly cashed out of more than $700 million from his company ahead of its initial public offering. The size and timing of the payouts, made through a mix of stock sales and loans secured by his equity in the company, is unusual, considering that founders typically wait until after a company holds its public offering to liquidate their holdings. Despite the loans and sales of stock, first reported by The Wall Street Journal, Neumann remains…

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Wells Fargo’s profit climbs despite CEO search, pressure from rates

New York (CNN Business)Wells Fargo’s bottom line grew steadily in the second quarter as the big bank searches for a new boss and tries to recover from years of scandal. Interim CEO Allen Parker signaled the board is still seeking an outsider for the job, casting doubt on recent speculation that he could get the gig permanently. “From the very beginning, they said they would be seeking someone from the outside. As far as I know, they’ve never wavered from that,” Parker told analysts during a conference call. Part of…

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Boeing 737 Max ordered by Ryanair undergoes name change

Decision fuels speculation that troubled plane will be rebranded once it is given all clear to fly A Boeing 737 Max due to be delivered to Ryanair has had the name Max dropped from the livery, further fuelling speculation that the manufacturer and airlines will seek to rebrand the troubled plane once it is given the all clear to fly again. Photos have emerged of a 737 Max in Ryanair colours outside Boeings manufacturing hub, with the designation 737-8200 instead of 737 Max on the nose. The 737-8200 is a…

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Prime Day: activists plan protests in US cities and a boycott of e-commerce giant

Immigrants and workers say Amazon should cut ties with federal deportation agencies and provide better work conditions Activists, immigrants and Amazon employees are planning actions against the e-commerce giant on its annual Prime Day, to protest against its labor practices and its involvement with US authorities deportation efforts. The protests on Monday are set to take place in at least seven US cities, and will coincide with the yearly sale that made the company more than $4bn in 2018. Activists say Amazon should not be profiting off the yearly sale…

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A higher US minimum wage is inevitable so businesses better be prepared | Gene Marks

A minimum wage increase will put pressure on everyones compensation, so businesses may have to cave and pay up Over the past few years many localities and cities, from New York City to Seattle, have passed legislation raising minimum wages that employers must pay to $15 an hour. Now, Washington is taking action. If youre a small business owner, you better be paying attention. Bloomberg very recent one from the Congressional Budget Office that show how a minimum wage hike would cost jobs. But there are other studies (like Read…

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Sole to the highest bidder: Sotheby’s to auction rare Nike sneakers

Nikes famous Moon Shoe and limited-edition trainers produced by Kanye West, Air Jordan and Adidas will be sold Sothebys in New York has announced its first-ever auction dedicated to sneakers. The auction house will sell 100 pairs of the rarest sneakers ever produced, including a sample of one of the first Nike running shoes with a pre-sale high estimate of $160,000. The Nike Moon Shoe is one of only 12 pairs created. It was designed by Nike co-founder and track coach Bill Bowerman for runners at the 1972 Olympics trials…

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