03/10/2026

BIZ & FINANCE SATURDAY | OCT 3, 2026

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Boeing workers reach deal to avert strike

Temasek comfortable with current AI spending

BOSTON: Singapore’s Temasek is not worried about the massive levels of spending from hyperscalers powering the AI buildout, its executive said on Thursday, as the state investor works to increase its exposure to the technology. Speaking at the Reuters Investment USA event in Boston, Temasek’s North America head Jane Atherton said the companies funding the infrastructure believe the large-scale investments will yield risk-adjusted returns with the growing adoption of AI. “Underpinning all of this AI buildout are some of the strongest balance sheets in the world. We remain incredibly positive on AI,“ Atherton said. A selloff in global bonds and expectations of tighter monetary policy have called into question the sustainability of the enormous spending commitments undertaken by tech giants in a high interest rate era. Analysts have forecast hyperscaler capex to surpass over US$1 trillion (RM4.1 trillion) by 2027, driven predominantly by the need to fund costly chips and data centres to satisfy massive amounts of compute. Temasek, which owns stakes in Anthropic and OpenAI, is one of the world’s largest state investors with overall holdings valued at about US$400 billion. The firm’s holdings in the Americas account for 26% of the portfolio, predominantly in the US, with significant stakes in companies spanning financial services and technology, counting BlackRock, Mastercard and Nvidia among its major investments. Temasek laid out plans earlier this year to increase its investment in the AI ecosystem to as much as 15% of the portfolio over the next five years, from about 6% now. The conversation around the speed of AI development has taken centre stage after leading companies have called for a slowdown, warning that rapid advances could risk spelling the end of humanity. Atherton said the question of AI safety needed to be addressed by governments and the companies developing the technology. “I really don’t know how you price the end of humanity, except that if it happens, it won’t really matter,“ Atherton said. – Reuters

certification efforts for the 737 MAX 10 narrowbody and 777X widebody jets, while also disrupting the company’s plans to increase production and accelerate deliveries. The contract proposal included a guaranteed 10% wage increase upon ratification, along with annual raises of 4% and the possibility of an additional 2% pay hike based on performance. About 68% of the professional unit, which represents roughly 13,000 engineers and scientists, voted in favour of the deal, as did more than 53% of the technical unit, representing about 4,000 designers, analysts and technicians. The two units bargain together but vote separately. Members of both the professional and technical units had previously rejected Boeing’s initial offer, which linked guaranteed raises to inflation, capped at 3%, with up to an additional 2.5% based on performance. SPEEA’s last strike against Boeing was in 2000, when engineers and technical workers walked out for 40 days in a dispute over pay and benefits. The stoppage, which affected commercial aircraft production and deliveries, was one of the largest white-collar strikes in US history. – Reuters

o New four-year agreement includes immediate 10% pay rise and annual wage increases of 4%

SEATTLE: Boeing’s largest white-collar union said on Thursday its members approved a sweetened contract offer, ending fears that a strike would stall work on two long-delayed jetliners and slow the pace of aircraft deliveries. The Society of Professional Engineering Employees in Aerospace (SPEEA), which represents about 17,000 Boeing workers, said both of its bargaining units voted to approve the new four-year offer. “We secured many victories that some thought were completely out of reach when this negotiation cycle started. All of these gains would not have been possible without your individual actions and our collective strength,” the SPEEA negotiation team said in a public statement to members. Union members now “need to work with Boeing, and as needed, pressure Boeing management” to rebuild “trust with the membership that has eroded over the past

decades” and “restore aerospace professionals and technicians to the centre of Boeing’s universe,” the statement added. Boeing’s 737 MAX crisis, which began with two fatal crashes in 2018 and 2019, revealed widespread safety and quality problems at the company that critics attributed to leadership’s increasing focus on financial results in recent decades. The contract ratification provides relief for Boeing, easing concerns over a potential strike as early as Oct 7, the day after current contracts expire. “We’re pleased with the outcome of the vote. We look forward to working with our team to support our company’s continued recovery and meeting our customer commitments now and into the future,” Ben Nimmergut, Boeing vice president and functional chief engineer for production engineering, said in a statement. A work stoppage could have delayed critical

Florida sues Pfizer over Covid-19 vaccine claims BENGALURU: Florida Attorney-General James Uthmeier filed a lawsuit against Pfizer and its CEO Albert Bourla on Thursday, accusing the pharmaceutical company of misleading consumers about the safety and effectiveness of its Covid-19 vaccine.

The lawsuit, filed in state court, alleges that Pfizer assured consumers its vaccine was safe while failing to adequately disclose potential risks, including heart inflammation and other adverse events. According to the lawsuit, Pfizer also encouraged people to get vaccinated to protect others, despite allegedly not having tested whether its vaccine could prevent transmission of the virus. Florida further accused the drugmaker of employing unfair tactics to dominate the vaccine market. The state alleged that Pfizer generated more than US$80 billion (RM330 billion) in vaccine sales before nearly quadrupling the price of its Covid 19 vaccine from US$30 per dose to between US$110 and US$130 in 2023. The lawsuit, brought under Florida’s consumer protection law, seeks a court order to halt the alleged conduct, fines of US$10,000 per violation or US$15,000 in cases involving harm to seniors or people with disabilities, and the return of profits. Pfizer rejected the allegations, saying they were without merit and that it would respond to the lawsuit in due course.

Drugmaker faces allegations of withholding information about potential health risks and employing unfair market practices. – SUNBIZ IMAGES

comment, the Florida attorney-general’s office said: “The complaint and comments by Florida Attorney-General James Uthmeier speak for themselves.” – Reuters

science-based, and the company stands behind the safety and efficacy of its vaccine,“ Pfizer said in a statement. Responding to a Reuters request for additional

“The representations made by Pfizer about its Covid-19 vaccine have been accurate and UK commits up to £80m to accelerate dementia diagnosis, reduce waiting times

BENGA.LURU: The UK’s national research agency has pledged up to £80 million (RM430 million) to accelerate dementia testing, improve diagnosis rates and reduce waiting times that can currently exceed a year. UK Research and Innovation (UKRI) said yesterday that nine new technologies, including faster brain scans, blood tests and a 15-minute remote cognitive test, would be trialled within the National Health Service (NHS). The initiative aims to ensure that 92% of patients receive a diagnosis within 18 weeks of

Highlighting the scale of the problem, UKRI Health Mission Challenge Director Andy Hill said dementia accounted for almost one in eight deaths in the UK, making it the country’s leading cause of disease-related deaths. “More people die as a consequence of dementia than any other disease in the UK, accounting for almost one in eight deaths,“ Hill said. He added that more than 72,000 people across the UK died from dementia, including Alzheimer’s disease, last year. – Reuters

intervene earlier. Under the initiative, only projects that demonstrate benefits during NHS trials will qualify for additional funding. UKRI described the approach as “fail-fast”, a strategy intended to accelerate the adoption of effective technologies while directing resources away from those that fail to deliver measurable improvements. “Dementia has been neglected for far too long,“ Minister of State for Health Karin Smyth said.

referral, compared with around 60% currently. Among the projects is a technology designed to reduce MRI brain scan times from approximately 20 minutes to just seven minutes, potentially allowing more patients to undergo testing while lowering healthcare costs. Other innovations include an artificial intelligence tool to predict disease progression, digital technologies to monitor changes in memory and thinking, and a home sensor system designed to help doctors