Intelsat filed for Chapter 11 bankruptcy protection May 13 in hopes that restructuring will position the No. 2 satellite operator to win nearly $5 billion from an FCC spectrum program. The company flies roughly 50 satellites and generates around $2 billion in annual revenue, but has labored for years under a crushing $15 billion debt load. Questions
Cruise, the self-driving car subsidiary of GM that also has backing from SoftBank Vision Fund, automaker Honda and T. Rowe Price & Associates, is laying off nearly 8% of its more than 1,800-member workforce today as it tries to reduce costs during the COVID-19 pandemic. The layoffs will affect employees in Cruise’s product, marketing and
WASHINGTON — Sen. Richard Burr on Thursday stepped down as chairman of the Senate Intelligence Committee, a day after FBI agents seized his cellphone as part of a criminal investigation into his stock sales during the early weeks of the coronavirus pandemic. “Senator Burr contacted me this morning to inform me of his decision to
Operators of the Fort Smith, Arkansas venue TempleLive have postponed the “socially distant” concert that they were planning to hold tomorrow (May 15). They made the announcement at a press conference at the venue. The decision comes after the Arkansas Department of Health issued a cease-and-desist order to TempleLive and stripped the venue of its
Cruise Origin driverless shuttle Cruise Cruise, General Motors‘ majority owned self-driving vehicle unit, said Thursday in an email to staff that it will be cutting about 8% of its workforce amid the coronavirus pandemic. The cuts are expected to primarily come from outside the company’s engineering operations, including recruiting and human resources, according to a
On Zoom calls, Kate Middleton makes a point to dress up. But off camera and off the clock, the Duchess of Cambridge’s style is far more cozy than it is extravagant. She dresses like a human, not some ritzy princess, a source made clear to Us Weekly. The source told the outlet that the Duchess
Light show: Celebrating 60 years of the laser. (Courtesy: iStock/Terraxplorer) In October 1959, Theodore “Ted” Maiman, a relatively unknown 32-year-old physicist, set out to make what was then known as “optical maser” out of a crystal of pink ruby. The project didn’t have the most auspicious of starts. Maiman’s employers at Hughes Research Laboratory were
Take a look at some of the biggest movers in the premarket: Norwegian Cruise Line (NCLH) – Norwegian reported a first-quarter loss of 99 cents per share, wider than the 50 cents a share loss that analysts had projected. Revenue was in line with forecasts. The cruise line operator said it was well-positioned to withstand
Top row (left to right): Laurie Halse Anderson, Eric Gansworth, Meg Medina. Middle row: Linda Sue Park, Mitali Perkins, Jason Reynolds. Bottom row: Cynthia Leitich Smith, Laurel Snyder, Alex Wheatle Finalists for the 2021 NSK Neustadt Prize for Children’s Literature, sponsored by World Literature Today, were announced today at the University of Oklahoma. The NSK
Investors and health officials appear to grow increasingly worried about a potential second wave of Covid-19 cases and further economic downtown, as states and foreign governments move ahead with lifting restrictions. Stocks sold off on Tuesday, with the Dow shedding roughly 400 points in the final hour of trading and the Nasdaq Composite and S&P
Some Black Widow Funko Pop! figure designs have leaked. Marvel Studios was set to have the Natasha Romanoff standalone movie out in theaters at the beginning of this month. However, due to the world’s current state of affairs, that was not possible. The studio has since pushed the release date back to November of this
Well, that didn’t work out well. General Alder showed why she’s been in power for centuries on Motherland: Fort Salem Season 1 Episode 9. Now the only question is whether the blowback from the aborted coup is going to reach the Bellweather Unit. Their first taste of action on Motherland: Fort Salem Season 1 Episode 8
BANGKOK (Reuters) – Can’t bear to eat alone? People have dinner as they sit next to stuffed panda dolls, used as part of social distancing measures to prevent the spread of the coronavirus disease (COVID-19), at the Maison Saigon restaurant that reopened after the easing of restrictions in Bangkok, Thailand, May 13, 2020. REUTERS/Athit Perawongmetha
Antoine Riaud might need to take his wife on a second honeymoon. You’re supposed to spend that first romantic getaway obsessing over your new spouse, not how cells behave in an acoustics experiment. But when inspiration calls…well, it can be hard to ignore. For some time Riaud had been working on an idea for a
Electric Lit is committed to publishing—and paying writers—through the pandemic without any layoffs or pay cuts. Please consider supporting us during this difficult time. Donate here. . The absence of someone or something is as palpable as their presence. I’ve discovered this—quite painfully—in my own life as the daughter of Palestinian immigrants. Naturally, I’m drawn to
EXCLUSIVE: We’ve learned and confirmed that some exhibitors will be sharing in this weekend’s revenues for the Warner Bros. digital and PVOD release of Scoob! Warner Bros. opted to take their Tony Cervone-directed animated release into homes this Friday instead of theaters given the continued near nationwide exhibition shutdown during COVID-19. Scoob! will be available for
by Trevor Kimball, May 13, 2020 (Alfonso Bresciani/USA Network) USA Network continues to purge its schedule of scripted TV series and, appropriately enough, that includes The Purge. The anthology horror show has been cancelled and won’t be returning for a third season. The Purge TV show stars Derek Luke, Max Martini, Paola Nunez, and Joel
One way to help the industry is for the government to communicate what problems it needs solved and commit funding for the right solutions. The COVID-19 economic slowdown will have lasting implications on the new space sector. Yet the United States cannot afford another lost decade of commercial space innovation. Adversaries are building their own