Business Notebook

Boeing earnings plummet

Aerospace giant Boeing Co. saw its earnings plunge by a third in the second quarter because of repeated delays with a military fuel tanker.

The Chicago-based company Wednesday posted a $1.11 billion net profit, down from $1.65 billion during the same period last year. The bulk of that drop is attributed to a $536 million after-tax charge Boeing took on the Air Force’s KC-46 Pegasus Tanker, a midair refueling plane Boeing is building off its commercial 767 jet frame. The company said it has faced higher engineering and manufacturing costs to complete certification and initial production of the military aircraft.

IN BRIEF

▪  South Carolina Clean Energy Business Alliance holds a summit Thursday at the Columbia Metropolitan Convention Center, 1101 Lincoln St. The day-long summit begins at 8:30 a.m. and the registration fee is $150.

▪  Wilmington on Tuesday became the latest city in the Carolinas to oppose offshore drilling for oil. Nearby beach communities including Wrightsville Beach, Carolina Beach and Topsail Beach have approved resolutions expressing concerns. About a dozen South Carolina coastal towns have taken similar positions.

▪  Coca-Cola says people are shelling out more money for its drinks, thanks to a mix of reinvigorated marketing and mini-cans and glass bottles that tend to cost more.

▪  IKEA is recalling 27 million dressers it says are at risk of tipping, after the deaths of two children, including a 2-year-old Philadelphia-area boy crushed by his dresser last year.

From Staff and Wire Reports

This story was originally published July 22, 2015 at 11:34 PM.