Delays, revamp over: Airbus A350 takes flight
PARIS - Airbus sent a new wide-body plane into the skies that sets the stage for intensifying competition with U.S. rival Boeing. After years of delays and a revamp that cost billions, the A350 cruised for four hours in partly cloudy skies above Toulouse in southern France. Most important, it then landed safely.
The flight marks a key step on the path to full certification for the jet, which can carry 250 to 400 passengers and is the European aircraft maker's best hope for catching up in a long-haul market dominated by Boeing's 777 and the 787, known as the Dreamliner.
May inflation rises 0.5%; factory output creeps up
In economic reports Friday:
• A rise in food and gas costs drove a measure of wholesale prices up sharply in May. But outside those volatile categories, inflation was mild. The U.S. Labor Department said the producer price index rose 0.5 percent in May from April.
• After hitting the highest level in almost six years in May, the University of Michigan and Thomson Reuters' consumer-sentiment index fell to a preliminary June reading of 82.7 from a final May reading of 84.5.
Economists polled by MarketWatch had expected a preliminary June reading of 84.7.
• U.S. factories barely increased their output in May after two months of declines. The Federal Reserve said factory production rose 0.1 percent from April.
Lululemon lightens up
If you can hold a headstand for at least 10 minutes, communicate in Sanskrit and enjoy downing wheatgrass and tequila shots on Fridays for work-life balance, Lululemon has a job for you.
After a rocky few months, the company is seeking a new CEO. Lululemon has posted a joke-filled want ad that it says shows its "fun and irreverent" brand.
The ad comes as the Canadian company's stock has slid 20 percent after it announced Monday that its current CEO, Christine Day, plans to leave.
In March, Lululemon suffered a public relations nightmare after pulling too-sheer yoga pants from shelves. The company is known for its $100 yoga pants.
Chrysler freezing pensions
Chrysler Group LLC says it is freezing the pensions of roughly 8,000 U.S. salaried employees at the end of the year. The U.S. automaker said it is making the move to stay in line with industry trends and to comply with Internal Revenue Service regulations.
Associated Press; Marketwatch