Month: December 2019

Spain’s Telefonica plans to drastically reduce the amount of equipment it buys from Chinese technology giant Huawei [HWT.UL] for the core of its next-generation mobile networks in Europe, its Chief Technology and Information Officer (CTIO) said. Choosing manufacturers for network equipment has become a political hot potato since Washington imposed an export ban on Huawei, the global market leader, but Telefonica’s shift away was “a purely technical decision”, CTIO Enrique Blanco said. Until now, Telefonica has relied entirely on Huawei for its core 4G networks in key markets of Spain and Germany, but under the new strategy, this …read more […]

(Bloomberg) — Bankrupt utility giant PG&E Corp. has removed from its $13.5 billion settlement with wildfire victims the requirement that California Governor Gavin Newsom sign off on its restructuring plan.PG&E reached an agreement with representatives of the victims of fires ignited by its equipment to eliminate the provision after Newsom said last week that the power company’s proposed reorganization plan doesn’t comply with state law.San Francisco-based PG&E announced the decision Monday night, less than a day before it was required by the fire victims deal to respond to Newsom’s rejection and address his concerns. The governor had described the utility’s …read more […]

Boeing, which builds the 737 south of Seattle, said it would not lay off any of the roughly 12,000 employees there during the production freeze. “We estimate that Boeing is burning nearly $2 billion per month on the MAX but this will not drop to zero during the halt,” JPMorgan analysts said in a note to clients. Analysts at Jefferies estimated a cash burn of more than $730 million a month. …read more […]

The following are some of the key steps that U.S. Federal Aviation Administration (FAA) chief Steve Dickson said still need to take place before he approves the 737 MAX to return to the skies. ** A certification test flight with Boeing’s 737 MAX updates on flight-control software and other revisions meant to add layers of protection. ** An evaluation of pilot training needs by a Joint Operations Evaluation Board, made up of the FAA’s Flight Standardization Board and partners from Canada, Europe, and Brazil. …read more […]

Boeing has come under criticism from regulators, suppliers and airlines for providing what have turned out to be unrealistic estimates for the 737 MAX returning to service. It needs regulators led by the U.S. Federal Aviation Administration (FAA) to approve a software fix to an anti-stall system linked to both crashes as well as the approval of new pilot training materials. …read more […]