Panasonic Corp.’s board will meet tomorrow to consider cutting its number of top executives by almost half as part of President Kazuhiro Tsuga’s efforts to rebound from a record annual loss, two people familiar with the plan said.
Boeing Co. may have to absorb as much as $700 million in cost overruns on the refueling tanker the company is developing for the U.S. Air Force, about $300 million more than previously estimated, according to the service.
Boeing Co. is unlikely to take a charge tied to the delay of the 787 Dreamliner until next year’s first quarter, because the postponement’s cost is included in its plan, Chief Financial Officer James Bell said.
As Boeing Co. Chief Executive Officer Jim McNerney held court in Airbus SAS’s backyard at the Paris Air Show last June, he made a promise: He told Wall Street analysts he’d be throwing a party in two weeks -- after the 787 Dreamliner’s first test flight.
The Bank of England is overhauling the leadership of its economics unit as Governor Mervyn King and Chief Economist Spencer Dale put in place a new crop of officials who may be picked for future policy roles.
The three directors who oversee risk at JPMorgan Chase & Co. include a museum head who sat on American International Group Inc.’s governance committee in 2008, the grandson of a billionaire and the chief executive officer of a company that makes flight controls and work boots.