An international panel of air safety regulators on Friday harshly criticized the U.S. Federal Aviation Administration’s (FAA) review of a safety system on Boeing Co’s 737 MAX jet that was later tied to two crashes that killed 346 people.
WASHINGTON/SINGAPORE, Oct 11 (Reuters) – An international panel of air safety regulators on Friday harshly criticized the U.S. Federal Aviation Administration’s (FAA) review of a safety system on Boeing Co’s 737 MAX jet that was later tied to two crashes that killed 346 people. The Joint Authorities Technical Review (JATR) was commissioned by the FAA in April to look into the agency’s oversight and approval of the so-called MCAS anti-stall system before the fatal crashes. “The JATR team found that the MCAS was not evaluated as a complete and integrated function in the certification documents that were submitted …read more […]
Oil prices jumped by 2% on Friday after Iranian news agencies said a state-owned oil tanker was struck by two missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions from a crucial producing region.
Japan’s Hitachi Ltd has narrowed suitors for its $6.8 billion chemical unit to a handful of companies including Bain Capital, Japan Industrial Partners and Nitto Denko Corp, four people with knowledge of the deal said. Shortlisted bidders for Hitachi Chemical Co also include U.S. private equity fund Carlyle Group L.P., three of the people said. Bain, the U.S. buyout fund, is teaming up with Tokyo-based private equity firm Japan Industrial Partners, the three said. …read more […]
The tanker was traveling through the Red Sea near Saudi Arabia on Friday, Iranian media reported. …read more […]
South Korea’s Hyundai Motor and Kia Motors agreed to resolve class action litigation with U.S. owners of certain vehicles equipped with Theta II gasoline direct injection (GDI) engines, the companies said on Friday.
Asian shares jumped on Friday after U.S. President Donald Trump said he would meet with China’s top trade negotiator, stirring hopes for an agreement, while sterling resumed its climb amid optimism over a possible Brexit deal.
(Bloomberg) — A National Iranian Oil Company tanker caught fire after an explosion in the Red Sea near the Saudi Arabian port of Jeddah, the Islamic Republic News Agency reported, citing the company’s press office.Oil prices extended gains after the report, which comes amid heightened tensions in the Middle East following drone strikes on a key Saudi Arabian oil facility last month. The explosion is likely an act of terrorism, according to the Islamic Student’s News Agency, an arm of the Islamic Revolutionary Guard Corps, which cited unnamed experts. The Saudi government’s Center for International Communication did not immediately respond …read more […]
Christian Klein, SAP’s new co-chief executive, told Germany’s’ n-tv television that the software and cloud computing giant will rely on a strategy of continuity following the departure of Bill McDermott.
By Saikat Chatterjee, Hideyuki Sano and Gertrude Chavez-Dreyfuss
An international panel of air safety regulators on Friday harshly criticized the U.S. Federal Aviation Administration’s (FAA) review of a safety system on Boeing Co’s 737 Max jet that was later tied to two crashes that killed 346 people.
A U.S.-China currency agreement being floated as a symbol of progress in this week’s trade talks between the world’s two largest economies would largely repeat past pledges by China, currency experts say, and will not change the dollar-yuan relationship that has been a thorn in the side of President Donald Trump.
Top U.S. and Chinese trade officials met on Thursday for the first time since late July to try to find their way out of a bitter, 15-month trade war as new irritants between the world’s two largest economies threatened to dash hopes for progress.
(Bloomberg) — JPMorgan Chase & Co. is leading discussions to put together a rescue package for cash-strapped WeWork that may come together as soon as next week, the Financial Times reported.The U.S. investment bank may contribute a large sum to any bailout, giving WeWork a much-needed infusion of cash after the once high-flying startup’s failed attempt at an initial public offering, the newspaper cited unidentified people as saying. The co-working company will need fresh capital by the end of November, the FT reported.WeWork formally withdrew the prospectus for an IPO this month, capping a botched fundraising effort that cost its …read more […]
President Donald Trump will meet with Chinese Vice Premier Liu He at 2:45 p.m. EDT/1845 GMT on Friday as the world’s two biggest economies try to reach a trade agreement, the White House said.
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