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Boeing CEO Grilled by Senators on Handling of 737 MAX Problems

  • Boeing CEO Grilled by Senators on Handling of 737 MAX Problems Boeing CEO Grilled by Senators on Handling of 737 MAX Problems 6:20
    Why the Agency That Regulates Boeing Is Under Scrutiny Why the Agency That Regulates Boeing Is Under Scrutiny 8:58
    FAA on Boeing: 'We'll Go Wherever the Facts Lead Us' FAA on Boeing: 'We'll Go Wherever the Facts Lead Us' 2:16
11:17 a.m. Today - Associated Press
Airbus gets $30 billion in plane orders at Dubai Airshow The largest deal came from Dubai-based airline Emirates, which announced it will buy 20 additional wide-body Airbus A350sThe largest deal came from Dubai-based airline Emirates, which announced it will buy 20 additional wide-body Airbus A350s.
10:13 a.m. Today - By Felicia Schwartz
Pompeo set to reverse decades-old U.S. position that Israeli settlements are illegalSecretary of State Mike Pompeo is expected to announce Monday that the U.S. no longer will consider Israeli settlements to be illegal under international law, a move that formalizes the Trump administration’s treatment of the West Bank and shifts decades of U.S. policy, an administration official said.
1:53 a.m. Today - By Tomi Kilgore
Boeing gets 10 additional orders for 737 MAX 8 planes valued at $1.2 billion from SunExpressBoeing Co. said Monday that SunExpress is exercising options for 10 additional 737 MAX 8 airplanes, with a value of $1.2 billion according to list prices. The order adds to the previous 32 MAX planes ordered by SunExpress. Boeing's stock edged up 0.3% in premarket trading. The air carrier offers non-stop services between Europe and Turkey and other destinations in the Mediterranean, the Black Sea, North Africa and the Red Sea. "We regret the impact the MAX grounding has had on SunExpress and their passengers," said Stan Deal, CEO of Boeing Commercial Airplanes. "The Boeing team is working hard to safely return the airplane to service and providing the capacity for SunExpress to continue serving as the backbone of air travel in the Turkish tourism industry." Boeing's stock has gained 15.3% year to date through Friday, while the Dow Jones Industrial Average has climbed 20.1%.
3:19 p.m. Nov. 17, 2019 - By Andy Pasztor
FAA may overhaul plane-certification process in wake of 737 Max crashes FAA chief says ‘human factors’ should be higher priorityU.S. air-safety regulators are considering ways to alter fundamentally how they certify aircraft in the wake of Boeing Co.’s 737 Max crisis, the head of the Federal Aviation Administration said in an interview Sunday.
8:21 a.m. Nov. 16, 2019 - By Victor Reklaitis
‘Give away $60 billion’ to foreign companies? The ‘America First’ Trump administration faces a tricky 5G choice Supporters of a spectrum-auction plan from a European-Canadian alliance say it’s the best way to ensure the U.S. doesn’t fall behind on 5th-generation wireless technology A big step in U.S. 5G deployment could take place next month, as the FCC could back a proposal from the satellite industry for auctioning off radio spectrum. But some lawmakers don’t like the plan, and satellite stocks have slumped this week.
1:16 p.m. Nov. 15, 2019 - Associated Press
A day after school shooting in Santa Clarita, Calif.: no diary, no note, no motive On his own 16th birthday, shooter killed two fellow Saugus High School studentsInvestigators said Friday they have yet to find a diary, manifesto or note that would explain why a boy killed two students outside his Southern California high school on his 16th birthday.
8:38 a.m. Nov. 15, 2019 - By Victor Reklaitis
Companies pushing controversial 5G spectrum auction offer to give at least 30% of proceeds to U.S. Treasury Shares in the satellite companies rally on Friday after sliding during the week amid concerns about their auction proposal’s chancesThe satellite companies behind a controversial plan for auctioning off key radio spectrum made a fresh push on Friday to win over sceptics, offering to pay at least 30% of the proposed auction’s net proceeds into the U.S. Treasury.
6:10 a.m. Nov. 15, 2019 - By Greg Robb
NY Empire State factory index sluggish for sixth straight month in November Empire State index little changed at 2.9 from 4.0 in OctoberFactory activity in the New York region was sluggish for the sixth straight month, according to the Empire State manufacturing survey released by the New York Fed on Friday.
6:00 a.m. Nov. 15, 2019 - By Greg Robb
U.S. industrial output falls by most in 17 months in October U.S. industrial output falls 0.8% and 0.5% ex-autos and partsIndustrial output fell 0.8% in October, pushed lower by the GM strike, the Federal Reserve reported Friday.
10:38 a.m. Nov. 14, 2019 - Associated Press
Erdogan pulls out iPad to show Trump and Senate allies a video casting Kurds as terrorists during Oval Office meeting Trump backers take a harder stance in response than the president himself didIn a contentious Oval Office meeting, a band of GOP senators rebuffed the effort by Turkey’s president to depict anti-Islamic State Kurd forces as terrorists, with White House allies taking a harder line against Recep Tayyip Erdogan than did President Donald Trump
10:17 a.m. Nov. 14, 2019 - Associated Press
North Korea says Trump administration sought reopening of nuclear talksNorth Korea on Thursday said the United States has proposed a resumption of stalled nuclear negotiations in December as they approach an end-of-year deadline set by North Korean leader Kim Jong Un for the Trump administration to offer an acceptable deal to salvage the talks.
9:48 a.m. Nov. 14, 2019 - By Tomi Kilgore
Boeing's stock rallies to pace Dow gainers; Vertical's Stallard bumps up price targetShares of Boeing Co. rose 1.5% in afternoon trading Thursday, enough to pace the Dow Jones Industrial Average's gainers, after Vertical Research Partners analyst Robert Stallard reiterated his bullish view on the aerospace and defense giant and bumped up his price target. The stock's price gain of $5.60 was adding about 38 points to the Dow, which was down 21 points. Stallard said Boeing's is "a tough stock to call," given the upside potential once the 737 MAX overhang is lifted, coupled with a more challenging longer-term outlook. He kept his rating at buy, but raised his price target to $400, which is 8.7% above current levels, from $380. " A return to flight for the MAX and clarification on the associated charges would probably remove an overhang, and in our view be positive for the stock," Stallard wrote in a note to clients. He said, however, that he didn't believe Boeing will be in a position to just "turn back the clock" to what life was like before the MAX grounding, as investors will likely be be "much more circumspect" in their projections for future cash generation and the appropriate valuation multiples. The stock has run up 14.9% over the past three months, while the Dow has gained 9.0%.
5:19 a.m. Nov. 14, 2019 - Associated Press
MH17 probe in the Hague points to more direct Russia link to Ukraine separatists International team building criminal case in the shooting down in 2014 of Malaysian Airlines Flight 17 in eastern Ukraine An international team of investigators piecing together a criminal case in the July 2014 shooting down of Malaysia Airlines Flight 17 over eastern Ukraine said Thursday that evidence suggests links between Russia and separatists in the region were closer than previously believed.
9:57 a.m. Nov. 13, 2019 - By Meera Jagannathan
Many veterans aren’t employed to their full potential — how to translate your military experience to the civilian workforce ‘While I can’t give you an example of where I did this in a manufacturing environment, I can give you an example of where I did this with 15 of my soldiers in Afghanistan’‘While I can’t give you an example of where I did this in a manufacturing environment, I can give you an example of where I did this with 15 of my soldiers in Afghanistan.’
11:21 a.m. Nov. 11, 2019 - Associated Press
Musk’s SpaceX launches 60 mini satellites for global internet Musk says he wants to put thousands of Starlink satellites in orbit, which will provide high-speed internet service everywhereMusk says he wants to put thousands of Starlink satellites in orbit, which will provide high-speed internet service everywhere.
10:52 a.m. Nov. 11, 2019 - Associated Press
British founder of ‘White Helmets’ volunteer group in Syria found dead in Istanbul James Le Mesurier, 48 and a former U.K. military officer, founded the humanitarian group in 2014James Le Mesurier was the founder and CEO of May Day Rescue, which founded and trained the White Helmets, also known as the Syria Civil Defense, a group of local humanitarian volunteers. He was 48 and had moved to Turkey with his wife four years ago.
8:35 a.m. Nov. 11, 2019 - By Tomi Kilgore
Dow's gain is all Boeing, as stock market breadth remains bearishWhile the Dow Jones Industrial Average peeks into positive territory, market internals continue to point a bearish picture of the Monday's activity. The number of declining stocks is outnumbering advancers 1,579 to 1,208 on the NYSE and 1,653 to 1,175 on the Nasdaq, while the volume of stocks losing ground represents 58.8% of total volume on the Big Board and 48.8% of total volume on the Nasdaq. The Dow was up 15 points, despite 20 of 30 components losing ground, while the S&P 500 was down 0.2% and the Nasdaq Composite slipped 0.1%. The Dow would actually be down nearly triple digits if it wasn't for Boeing Co.'s stock , which rallied 4.2% after reports that the company . The stock's price gain of $14.76 was adding TK points to the Dow's price.
7:25 a.m. Nov. 11, 2019 - By Tomi Kilgore
Boeing stock surges, adds 90 points to the Dow's big bounce off the lowsShares of Boeing Inc. surged 3.8% in midday trading, reversing earlier losses of as much as 1.5%, to provide the biggest support to the Dow Jones Industrial Average as the index bounces off its lows. The stock's price gain was boosting the Dow's price by 90 points, while the Dow was down just 19 points after being down 163.53 points at its intraday low. The over the weekend, citing people familiar with the matter, that Boeing was discussing with regulators about possibly delivering 737 MAX jets to customers before airline pilots have completed the required training to fly the jets. There are also reports that Boeing has indicated it expects to resume 737 MAX shipments as early as December.
6:33 a.m. Nov. 9, 2019 - By Erica Sweeney
The 10 most FIRE-friendly places to live if you want to retire early Realtor.com crunched the numbers and found these FIRE-friendly locationsRealtor.com crunched the numbers and found these FIRE-friendly locations.
5:14 a.m. Nov. 9, 2019 - By Philip van Doorn
This simple stock investing strategy combines value, quality and dividends into a winning formula A venerable index has been outperforming other value strategies in recent yearsA venerable index has been outperforming other value strategies in recent years.
2:20 a.m. Nov. 9, 2019 - By Philip van Doorn
Adventurous investors can take a rocket ride with this new space ETF The Procure Space ETF is the first exchange-traded fund on focused space-related activitiesThe Procure Space ETF is the first exchange-traded fund focused on space-related activities.
10:22 a.m. Nov. 8, 2019 - By Tomi Kilgore
Boeing's stock takes a hit after Southwest pushes back estimate of 737 MAX return by a monthShares of Boeing Co. took a hit in afternoon trading Friday, after Southwest Airlines Co. disclosed in an SEC filing that it will be pushing back the expected return of the grounded 737 MAX planes by a month. Boeing's stock was down 1.5%; just before the release of Southwest's 10-Q filing with the Securities and Exchange Commission, the stock was down 1.0%. Boeing's stock price decline of $5.40 was shaving about 37 points off the Dow Jones Industrial Average's price, which was down 30 points. Southwest shares were down less than 0.1%. Southwest had said last month that it has removed the 737 MAX from its schedules through Feb. 8, 2020, as the air carrier estimates it will take two months to comply with applicable regulatory directives, including necessary training, once the Federal Aviation Administration lifts its order to ground the 737 MAX. "Based on continued uncertainty around the timing of the MAX return to service, the company soon plans to proactively remove the MAX from its flight schedule through March 6, 2020," Southwest stated in the 10-Q. Boeing's stock has gained 4.6% over the past three months and Southwest shares have rallied 15.3%, while the Dow has advanced 4.8%.
6:34 a.m. Nov. 7, 2019 - Associated Press
Chicago police chief stepping down after three tumultuous years Eddie Johnson, a Chicago native, rose through the ranks from patrolman to superintendent over a three-decade span Eddie Johnson, a Chicago native, rose through the Chicago Police Department ranks from patrolman to superintendent over a three-decade span.
9:26 a.m. Nov. 6, 2019 - Associated Press
Boeing CEO won’t get bonus until Max jets are in the air CEO Dennis Muilenburg’s compensation last year was $23.4 million, including a $13.1 million bonus and $7.3 million in stock awardsCEO Dennis Muilenburg’s compensation last year was $23.4 million, including a $13.1 million bonus and $7.3 million in stock awards.
6:10 a.m. Nov. 5, 2019 - By Ciara Linnane
Virgin Galactic is a 'one-of-a-kind opportunity' to invest in space tourism: Vertical ResearchVertical Research initiated coverage of Virgin Galactic Holdings Inc. , the space company founded by British billionaire Richard Branson, with a buy rating on Tuesday, describing the stock as a "one-of-a-kind opportunity to invest in space tourism." Analyst Darryl Genovesi set a $20 price target for the stock, or about double its current price, arguing that the market is pricing in more risk than needed. "SPCE is the only means by which a public equity investor may gain pure-play exposure to human spaceflight, a socially-important endeavour, and the only means by which a public equity investor may gain ANY exposure to space tourism, creating scarcity value that we think can drive the stock higher as the risk-profile becomes better understood," the analyst wrote in a note to clients. The stock further offers the chance to invest in the high net worth consumer segment, which is growing fast, and a pioneering technology that resonates with the trend toward experiences over possessions, he wrote. For now, the stock is being held back by technical concerns -- fears the company has a high risk of failure -- but Genovesi believes it's overdone. "We think SPCE's mission profile is very similar to X-15's, which crashed only once in more (199) tries (Pcrash ~0.5%) and that was 50 YEARS AGO, meaning SPCE can likely do better," he wrote. The stock was down 5% on Tuesday, while the S&P 500 was down 0.1%. It started trading on Oct. 25, after merging with a blank-check company.
4:56 a.m. Nov. 5, 2019 - By Andrew Tangel
Boeing chairman supports company’s embattled CEO Dennis Muilenburg But CEO will not receive bonus compensation or stock grants until the 737 Max is flying again, according to chairmanBoeing Co. Chief Executive Dennis Muilenburg won’t receive bonus compensation this year or stock grants until the 737 MAX is flying again, according to the plane maker’s chairman, who also said the company still had confidence in the embattled CEO.
12:43 p.m. Nov. 4, 2019 - Associated Press
Colorado man espousing anti-Semitic views arrested over alleged synagogue bomb plot Twenty-seven-year-old from Pueblo, Colo., alleged to have planned attack on historic synagogueA man who repeatedly espoused anti-Semitic views has been arrested in a plot to bomb a historic Colorado synagogue, federal officials said Monday.
7:02 a.m. Nov. 4, 2019 - By Robert Schroeder
U.S. slaps new sanctions on Iranian officials close to Khamenei The Trump administration on Monday announced new sanctions against Iran's Armed Forces General Staff and nine individuals who have acted on behalf of Supreme Leader Ayatollah Ali Khamenei. Among those targeted are Khamenei's appointees in the Office of the Supreme Leader and the Judiciary. The U.S. blames Khamenei and his advisers for exporting terrorism and oppressing Iranian citizens. The sanctions freeze U.S.-based assets of the designated persons, and prohibit Americans from dealing with them. The action by the U.S. Treasury coincided with the 40th anniversary of Iranian militants seizing the U.S. embassy in Tehran.
11:37 a.m. Nov. 2, 2019 - By Lina Saigol
As Virgin Galactic shares debut, here are the billionaires leading the new space race Richard Branson, Elon Musk and Jeff Bezos are squaring off in the race to send ordinary people into spaceRichard Branson’s Virgin Galactic Holdings on Monday became the first space-tourism business to go public as its stock began trading on the New York Stock Exchange.
9:18 a.m. Nov. 2, 2019 - By Rex Nutting
How the slump in manufacturing created overblown fears of a recession Factory output is down modestly, but employment is still strongReports of the demise of the U.S. manufacturing have been exaggerated, and that may be one reason why fears of an economy-wide recession got out of hand earlier this year.
7:06 a.m. Nov. 2, 2019 - By Mike Murphy
Air Force’s secretive X-37B ‘spaceplane’ lands after record 780 days in orbit Reusable and unmanned spacecraft ‘successfully completed all mission objectives’The U.S. Air Force’s secretive X-37B Orbital Test Vehicle landed Sunday morning after more than two years in orbit. The 780-day mission bested the spacecraft’s previous record of 718 days in orbit.
7:35 a.m. Nov. 1, 2019 - By Cody Willard
Stick with your convictions — even if the stock you like is hated by others Cody Willard talks Tesla and other heavily-shorted stocksCody Willard talks Tesla and other heavily-shorted stocks.
5:42 p.m. Oct. 31, 2019 - Associated Press
Qantas grounds three Boeing 737s after finding hairline cracks Australian airline has been inspecting all its 737s after FAA warningAustralian airline Qantas Airways said on Friday it grounded three of its Boeing 737s over hairline cracks found in wing structures but expected to have them flying again this year.
7:28 a.m. Oct. 31, 2019 - By Greg Robb
Chicago PMI slides to nearly four-year low in October Index drops to 43.2, lowest since December 2015U.S. Midwest manufacturing activity weakened in October, according to the Chicago PMI index released Thursday.
4:36 a.m. Oct. 31, 2019 - By Victor Reklaitis
Trump says U.S., China working to pick new site to sign 'Phase One' trade dealThe U.S. and China are working to select a new site for signing "Phase One" of a trade agreement, . On Wednesday, a Nov. 16-17 summit where Trump and Chinese President Xi Jinping had been planning to meet and sign the preliminary deal. The agreement is "about 60%" of a total deal, and the two presidents "will do signing," Trump tweeted on Thursday.
9:18 p.m. Oct. 30, 2019 - By Olivia Bugault
Safran revenue rises and backs 2019 viewThe French aerospace-and-defense company maintained its 2019 guidance but refined its view regarding the world-wide grounding of the 737 MAX jet.
9:13 a.m. Oct. 30, 2019 - Associated Press
Intelligence community fears other countries will join Russia in trying to disrupt 2020 U.S. electionsRussia interfered in the 2016 election and may try to sway next year’s vote as well. But it’s not the only country with an eye on U.S. politics.
2:58 a.m. Oct. 30, 2019 - Associated Press
Vindman testifies he sought to restore detail to White House–released transcript of Trump-Zelensky call“I was concerned by the call,” the decorated Army lieutenant colonel said, according to prepared remarks obtained by the Associated Press. “I did not think it was proper to demand that a foreign government investigate a U.S. citizen, and I was worried about the implications for the U.S. government’s support of Ukraine.”
9:57 p.m. Oct. 29, 2019 - By Olivia Bugault
Airbus cuts 2019 delivery target as it struggles with production woesAirbus cut its 2019 delivery target to roughly 860 aircraft from a previous forecast of 880 to 890 jets for the year, citing “underlying actions to secure a more efficient delivery flow in the next years.”
1:08 p.m. Oct. 29, 2019 - Associated Press
Army Lt. Col. Vindman tells impeachment investigators he twice raised concerns over Trump’s push for Ukraine investigations Vindman, a Purple Heart recipient, witnessed firsthand Trump’s controversial call with Ukrainian President Zelensky Alexander Vindman, a lieutenant colonel who served in Iraq and later as a diplomat, is the first official to testify who actually heard Trump’s July 25 call with new Ukrainian President Volodymyr Zelensky.
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