Boeing boosts wage offer to 33,000 striking workers with a 38% raise over four years and a $12,000 bonus, aiming to end a seven-week strike that has stalled key aircraft production.
Boeing’s stock rose 2% on Friday as it raised its wage offer to about 33,000 striking workers, hoping to resolve a seven-week strike that halted production of its 737 MAX, 767, and 777 jets.
The updated offer includes a 38% wage increase over four years and a $12,000 signing bonus, though it still lacks the defined-benefit pension workers have demanded.
Workers can choose to place $5,000 of the bonus into a 401(k) or take it as cash, and they can potentially direct up to 20% of their salary to retirement accounts. Analysts say this could sway some pension advocates.
So far, workers have lost around $10,400 in wages, surpassing the average first-year raise offered.
Despite the Machinists union’s support, worker opinion remains mixed. Since the strike began in September, Boeing’s shares have fallen 8.3%, and analysts are monitoring social media to gauge sentiment.
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U.S. President Donald Trump and China's Xi Jinping are set to meet on Friday (15 May) to wrap up a two-day state visit that has featured pomp and business deals but also a warning from Xi that mishandling the Taiwan issue could send relations spiraling.
U.S. President Donald Trump will meet Chinese leader Xi Jinping in Beijing next week on a two-day visit, his first trip to China in eight years. Delayed for two months by the Iran conflict, Taiwan, industrial matters, and the Strait of Hormuz are likely to dominate the talks.
Israel has approved a major defence deal to purchase new squadrons of advanced fighter jets from U.S. manufacturers Lockheed Martin and Boeing, the country’s defence ministry said on Sunday (3 May).
Boeing booked more aircraft orders than Airbus in 2025 for the first time since 2018, official figures showed, even as the European manufacturer delivered more planes during the year.
Details of a reported draft memorandum of understanding between the United States and Iran offer the clearest picture yet of how both sides plan to end months of conflict and move towards a longer-term settlement.
The U.S. and Iran say they have reached a deal to end their conflict, with an immediate ceasefire and reopening of the Strait of Hormuz after the lifting of the U.S. naval blockade. Talks will continue over the next 60 days to finalise the agreement
U.S. President Donald Trump has said a peace agreement with Iran is scheduled to be signed on Sunday in a post on social media, despite Tehran's Foreign Ministry spokesperson Esmaeil Baghaei saying no deal would be approved this weekend.
U.S. and Iranian officials said they had agreed on a framework to end their war, halt the U.S. blockade of Iran and reopen the Strait of Hormuz, a preliminary pact that sent oil prices falling but leaves the fate of Iran's nuclear program to further negotiations.
Switzerland on Sunday rejected a referendum proposal to cap its population at 10 million, a projection showed, as voters prioritised economic stability and the country's ties with the European Union over immigration concerns.
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Apple has unveiled a long-awaited upgrade to Siri, aiming to close the gap with technology rivals and emerging artificial intelligence firms in an increasingly competitive market.
ChatGPT maker OpenAI has confidentially filed for a U.S. initial public offering (IPO), the company said on Monday, joining rival Anthropic in a race to the stock market as investors seek exposure to the artificial intelligence boom.
Chinese carmakers are rapidly reshaping the global automotive market, with record exports, soaring electric vehicle sales and growing investments overseas putting pressure on established European, Japanese and U.S. rivals.
The International Labour Organization (ILO) has begun its latest round of negotiations on creating the first binding global standards for platform-based work, covering services such as ride-hailing, food delivery and other app-based work.
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