Boeing is moving its global headquarters to its Arlington, Virginia campus from Chicago, where it has been for more than two decades, the company said on Thursday.
The plane maker had been based in Seattle for most of its century-long history before relocating to Chicago in 2001, four years after its merger with McDonnell Douglas.
The company plans to develop a research and technology centre in Virginia to "harness and attract engineering and technical capabilities", it said in a statement.
"The region makes strategic sense for our global headquarters given its proximity to our customers and stakeholders, and its access to world-class engineering and technical talent," said Boeing president and chief executive Dave Calhoun.
The company said it will maintain a significant presence in Chicago and its surrounding region, while its three business units will continue to operate at their current headquarters: Boeing Commercial Airplanes in Seattle, Washington, Boeing Global Services in Plano, Texas, and Boeing Defence, Space and Security in Arlington, Virginia.
Boeing, which employs more than 140,000 people, has required less office space during the past two years amid the coronavirus pandemic, with employees working from home and plans to adapt and modernise its Chicago workspace.
Its new research and technology centre will focus on developing innovations in cyber security, autonomous operations, quantum sciences and software and systems engineering.
Boeing’s shares fell 4.1 per cent to $150.47 in New York trading Thursday amid a broad US market decline. The stock has dropped about 25 per cent this year as the company struggled to clear regulatory hurdles to resume 787 deliveries.
It posted a net loss of more than $1.2 billion in the first quarter, underpinned by a dip in sales and charges relating to the Russian war in Ukraine.
The loss in the three months to the end of March was nearly $681 million more than the US plane maker suffered in the same period last year. Revenue dropped 8 per cent year-on-year to almost $14bn in three-month period.
Boeing has nearly completed the safe return to service of the 737 MAX after two fatal crashes but it has delayed the delivery of its first 777-9 jet, a variant of its new 777X aircraft, by another year, with deliveries now expected to start in 2025.
MATCH INFO
Sheffield United 3
Fleck 19, Mousset 52, McBurnie 90
Manchester United 3
Williams 72, Greenwood 77, Rashford 79
What She Ate: Six Remarkable Women & the Food That Tells Their Stories
Laura Shapiro
Fourth Estate
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
KILLING OF QASSEM SULEIMANI
Vaccine Progress in the Middle East
MEDIEVIL%20(1998)
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Five%20calorie-packed%20Ramadan%20drinks
%3Cp%3E%3Cstrong%3ERooh%20Afza%3C%2Fstrong%3E%0D%3Cbr%3E100ml%20contains%20414%20calories%0D%3Cbr%3E%3Cstrong%3ETang%20orange%20drink%3C%2Fstrong%3E%0D%3Cbr%3E100ml%20serving%20contains%20300%20calories%0D%3Cbr%3E%3Cstrong%3ECarob%20beverage%20mix%3C%2Fstrong%3E%0D%3Cbr%3E100ml%20serving%20contains%20about%20300%20calories%0D%3Cbr%3E%3Cstrong%3EQamar%20Al%20Din%20apricot%20drink%3C%2Fstrong%3E%0D%3Cbr%3E100ml%20saving%20contains%2061%20calories%0D%3Cbr%3E%3Cstrong%3EVimto%20fruit%20squash%3C%2Fstrong%3E%0D%3Cbr%3E100ml%20serving%20contains%2030%20calories%3C%2Fp%3E%0A
What is 'Soft Power'?
Soft power was first mentioned in 1990 by former US Defence Secretary Joseph Nye.
He believed that there were alternative ways of cultivating support from other countries, instead of achieving goals using military strength.
Soft power is, at its root, the ability to convince other states to do what you want without force.
This is traditionally achieved by proving that you share morals and values.
Company%C2%A0profile
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Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
Stree
Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
Cast: Rajkummar Rao, Shraddha Kapoor, Pankaj Tripathi, Aparshakti Khurana, Abhishek Banerjee
Rating: 3.5
In numbers
- Number of children under five will fall from 681 million in 2017 to 401m in 2100
- Over-80s will rise from 141m in 2017 to 866m in 2100
- Nigeria will become the world’s second most populous country with 791m by 2100, behind India
- China will fall dramatically from a peak of 2.4 billion in 2024 to 732 million by 2100
- an average of 2.1 children per woman is required to sustain population growth
