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Boeing CEO Dave Calhoun to step down in leadership shake-up

Boeing's CEO David Calhoun revealed his plans to step down at the end of this year amid recent safety challenges at the aircraft manufacturer. Concurrently, Stan Deal, the executive in charge of Boeing's commercial airplanes division, will exit his role immediately, and board chairman Lawrence Kellner has decided not to seek re-election come May.

Boeing has been under intense observation following an incident in January when a flight experienced a door panel blowout due to missing bolts, an event that, fortunately, resulted in no fatalities. However, this incident triggered a meticulous federal safety evaluation during which Boeing did not meet numerous standards, prompting a criminal investigation by the Justice Department.

Calhoun assumed the CEO role four years prior during another tumultuous period for Boeing, which was grappling with the aftermath of two deadly accidents involving its 737 Max 8 aircraft, culminating in the loss of 346 lives.

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Do Kwon Released From Montenegrin Prison on Bail: Terraform Labs' Civil Trial Begins in NYC

The future remains uncertain for Do Kwon regarding whether he will be extradited to the United States or South Korea to answer for allegations linked to the $40 billion downfall of the Terra ecosystem in 2022.

After his incarceration in Montenegro, Do Kwon was granted release on Saturday while awaiting the determination of his extradition, which could be to either the U.S. or South Korea.

Simultaneously, Kwon was absent from the initial proceedings of a civil fraud lawsuit directed at him and Terraform Labs, which commenced this Monday in Manhattan.

While in Montenegro, the Supreme Court of this Balkan nation is deliberating on the extradition requests from both the U.S. and South Korea concerning Terraform Labs' co-founder, Do Kwon.

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Lucid Motors raises another $1 billion from Saudi Arabia as it searches for luxury EV buyers

Lucid Motors is set to receive an additional $1 billion investment from its principal investor, Saudi Arabia, aiming to offset the significant expenses involved in manufacturing and marketing its high-end electric vehicle.

A recent regulatory filing on Monday disclosed that Ayar Third Investment, which is connected to Saudi Arabia's Public Investment Fund, is set to acquire $1 billion in Lucid Motors stock. This investment will increase the Saudi entity's ownership, which already stands at approximately 60%.

This new capital injection occurred shortly after Lucid communicated to its stakeholders the intention to produce about 9,000 units of its Air electric vehicle this year, only marginally exceeding the prior year's production figures. The company reported a $2.8 billion loss in 2023, concluding the year with just under $1.4 billion in liquid assets.

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