Business News | July 6, 2024 Edition

Boeing has agreed to purchase Spirit AeroSystems, a company that specializes in manufacturing jet fuselages. Spirit AeroSystems, originally a part of Boeing’s operations in Wichita until being spun off in 2005, will be reincorporated through an $8.3 billion deal. The acquisition of Spirit AeroSystems will allow Boeing to streamline its production process, addressing concerns about the quality of its workmanship. Notably, Spirit AeroSystems was involved in the production of the door panel that detached from a Boeing 737 MAX aircraft during take-off in January. Additionally, Spirit AeroSystems manufactures parts for Airbus, which will be sold to the European aerospace company as part of the agreement.

In the second quarter, Tesla delivered approximately 444,000 electric vehicles. This figure represents a dip of almost 5% compared to the same period last year and marks the second consecutive quarterly decline in sales for the carmaker. Despite this decrease, Tesla’s share price experienced a surge in response to the results, as market expectations of a larger decline were not met. Despite the decline in deliveries, Tesla maintained its position as the world’s largest electric vehicle seller, surpassing its Chinese rival BYD, which saw a 21% increase in deliveries of pure battery electric vehicles to 426,000 units during the same period.