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Delta Air Lines CEO Ed Bastian says the airline is facing $500 million in costs related to a global tech outage this month that disrupted emergency services, communications and thousands of businesses. Speaking on CNBC, Bastian said Wednesday that the monetary amount represents lost revenue as well as “the tens of millions of dollars per day in compensation and hotels” for the five-day period. [time-brightcove not-tgx=”true”] Read More: Why Delta Is Under Investigation A week ago, CrowdStrike blamed a bug in an update that allowed its cybersecurity systems to push bad data out to millions of customer computers, setting off the global tech outage that grounded flights, took TV broadcasts off air and disrupted banks, hospitals and retailers. Cybersecurity company CrowdStrike also outlined measures it will take to prevent the problem from recurring, including staggering the rollout of updates, giving customers more control over when and where they occur, and providing more details about the updates that it plans. Among airlines, Delta was by far the hardest hit hard by the outage, having to cancel thousands of flights, because key systems were crippled by the incident. Read More: CrowdStrike’s Role In the Microsoft IT Outage, Explained The U.

Boeing named a longtime aerospace industry veteran on Wednesday as its next chief executive, who will take over a company that has been rocked by legal, regulatory and production problems. Robert “Kelly” Ortberg, a former CEO at aerospace supplier Rockwell Collins, will succeed David Calhoun, 67, as CEO and president effective Aug.

The City of Denver and the DEMI Fund were trying to do something innovative — take marijuana sales tax revenues and invest them in early-stage companies owned by minority and women entrepreneurs. But the marriage between public mission and private equity proved a rocky one, resulting in a lawsuit in March and now a legal separation. “Creating something new is not easy, and we appreciate the collaboration and creativity of DEMI Fund, Denver Economic Development & Opportunity, and other partners for their efforts,” the city said in a statement announcing an agreement to end a lawsuit between the two sides. Following the George Floyd protests, the administration of Mayor Michael Hancock created a venture capital fund to assist businesses from disadvantaged communities who historically have had a harder time accessing the financing they need to grow. The funding source for the Herman Malone Fund was unprecedented, a 1% sales tax the city was collecting on marijuana sales.

By DAVID KOENIG Boeing named a longtime aerospace industry veteran on Wednesday as its next chief executive, who will take over a company that has been rocked by legal, regulatory and production problems. Robert “Kelly” Ortberg, a former CEO at Boeing supplier Rockwell Collins, will succeed David Calhoun as CEO and president effective Aug.

Enlarge (credit: Peter Zelei Images via Getty Images) Extreme weather is, by definition, rare on our planet. Ferocious storms, searing heatwaves, and biting cold snaps illustrate what the climate is capable of at its worst. However, since Earth’s climate is rapidly warming, predominantly due to fossil fuel burning, the range of possible weather conditions, including extremes, is changing. Scientists define “climate” as the distribution of possible weather events observed over a length of time, such as the range of temperatures, rainfall totals, or hours of sunshine.

WASHINGTON — With the end of their two-year fight against inflation in sight, Federal Reserve officials are likely Wednesday to set the stage for the first cut to their key interest rate in four years, a major shift in policy that could eventually lower borrowing costs for U. S. consumers and businesses. Inflation has been falling steadily closer to the Fed’s 2% target for the past several months.