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  • News
    The Canadian Press

    EU military officer says a frigate has destroyed a drone launched from Yemen's Houthi-held areas

    NICOSIA, Cyprus (AP) — A top European Union military officer said that a frigate that’s part of an EU miliary mission in the Red Sea to protect merchant shipping destroyed a drone launched from an area in Yemen controlled by Houthi rebels on Thursday morning. Austrian Gen. Robert Brieger, who is chair of the EU’s military committee, said that it would be crucial for the bloc to “conserve resources” over the long haul because the threat posed by Houthi attacks “will not disappear” due to its conn

  • Business
    Reuters

    Caterpillar profit rises as higher prices offset easing demand

    Caterpillar has benefited from President Joe Biden's $1 trillion 2021 infrastructure law to upgrade roads, bridges and other transportation infrastructure. Although the boom from last year has eased it has remained relatively stable, helping Caterpillar hold on to the price increases it launched in the second half of 2023. That has helped the company offset the pressure on margins from an increase in manufacturing costs amid the lingering impact from supply chain constraints and higher steel prices.

  • Business
    Reuters

    Southwest Airlines cuts jet delivery forecast from Boeing again

    Boeing has been under heavy regulatory scrutiny following a Jan. 5 Alaska Airlines mid-air panel blowout that led to probes into the manufacturer's safety and quality standards in its production processes. Southwest, a loyal Boeing customer, expects to receive 20 aircraft this year, compared with its previous estimate of 46, pressuring the budget carrier's plans to expand capacity to tap into a robust demand environment. The U.S. FAA has also barred Boeing from expanding the production of its bestseller 737 MAX jet, while uncertainty looms over the certification timelines for its MAX 7 and 10 models.

  • Business
    Reuters

    Bombardier burns more cash as inventory rises to support business jet ramp up

    The Montreal-based company is facing pressure from rival General Dynamics' Gulfstream, which had its flagship G700 luxury jet certified last month by the U.S. Federal Aviation Administration. Business jet makers are reporting sustained demand for their aircraft, although industry data shows private flying has been leveling off after years of growth spurred by the pandemic. Bombardier on Thursday reported 20 aircraft deliveries in the first quarter, which it said will put it on track to handover 150 to 155 jets this year.