Containers are seen on a shipping dock as the global coronavirus disease (COVID-19) outbreak continues in the port of Los Angeles, California on April 16, 2020. Lucy Nicholson | Reuters Companies like Peloton face a costly logistics nightmare as record congestion in ports around the world creates delays. Global shipping data from MarineTraffic showed that…

Volkswagen ID Buzz vehicle. Aeva Volkswagen is accelerating its plans for fully electric vehicles in order to become “the world’s most coveted brand for sustainable mobility,” a title that probably already belongs to Tesla. The German automaker said Friday morning that more than 70% of its Volkswagen brand’s European sales will be electric vehicles by…

Boeing and Airbus compete against each other at the Paris Air Show 2013. Fabrice Dimier | Bloomberg | Getty Images The US and the European Union will suspend tariffs for four months in a long-standing dispute over illegal subsidies for Boeing and Airbus, the President of the European Commission said on Friday. The deal is…

Dave Calhoun, Boeing Chairman Adam Jeffery | CNBC Boeing CEO Dave Calhoun received $ 21 million in total compensation for his work last year but gave up $ 3.6 million in salaries and bonuses after the coronavirus pandemic ravaged and devastated the industry. He received just $ 269,231 of his $ 1.4 million salary for…

Bryan Fairbanks, CEO of Trex, told CNBC on Friday that sales for the company’s alternative wood products rose during the Covid-19 pandemic as consumers embark on more home improvement projects. In addition to increasing demand for composite decks from homeowners, the manufacturer has increased capacity and lowered prices to make its products more affordable, Fairbanks…

Restaurants and bars hired 286,000 workers in February after several months of job losses. This is the latest sign that the industry is recovering after a long, cold winter. Freezing temperatures, combined with a resurgence of new Covid-19 cases, hurt restaurants in late 2020 and into the new year. “As of now in 2021, I’d…

The intense interest in cryptocurrencies and the Covid-19 pandemic have sparked a debate among central banks about whether they should issue their own digital currencies. China has led the way in developing its own digital currency. It has been working on the initiative since 2014. Chinese central bank officials have already carried out massive trials…

The row of two-story 3D printer bays is located at the company’s headquarters. Relativity space The founders of two private rocket construction companies met today – one, the richest person in the world; the other, the head of a company that pushes the boundaries of manufacturing. Jeff Bezos visited relativity space’s shiny new “factory of…

CNBC’s Jim Cramer said Friday’s Labor Department job report had satisfied markets, at least for the interim. The US economy created 379,000 jobs last month and the unemployment rate has fallen. Stocks were able to rebound from their lows and embark on a tough three-day trading route to end the week on a high level.…

Todd McKinnon, Okta CEO, on Friday defended his company’s move to acquire Auth0, citing the competitor as a complementary asset to its identity and access management business. Okta stock is down 10% since it announced the $ 6.5 billion all-stock deal after it closed on Wednesday. The sales figure is more than a fifth of…