Tuesday, 20 Oct 2020

Boeing 737 Max is safe to fly again, Europe's aviation regulator says

Oil Trader GP Global Pushes Asset Sales Over Liquidation

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GP Global Group, a United Arab Emirates-based commodities firm, is trying to convince creditors to allow it to restructure rather than liquidate.


Growth In New York Manufacturing Slows More Than Expected In October

Growth in New York manufacturing activity slowed by more than expected in the month of October, the Federal Reserve Bank of New York revealed in a report on Thursday.

The New York Fed said its general business conditions index slid to 10.5 in October from 17.0 in September.

While a positive reading still indicates growth in regional manufacturing activity, economists had expected the index to show a much more modest drop to 15.0.

The bigger than expected decrease by the headline index came even though the new orders index climbed to 12.3 in October from 7.1 in September and the shipments index rose to 17.8 from 14.1.

The number of employees index also increased to 7.2 in October from 2.6 in September, indicating an acceleration in the pace of job growth.

The report also said the prices paid index crept up to 27.8 in October from 25.2 in September, while the prices edged down to 5.3 from 6.5.

“The October Empire State Manufacturing Survey signals continued, albeit softer, expansion supported by rising shipments and a gain in new orders, although employers are still hiring cautiously,” said Oren Klachkin, Lead U.S. Economist at Oxford Economics.

Looking ahead, the New York Fed said firms remained optimistic conditions would improve over the next six months, although optimism was somewhat lower than last month.

The index for future business conditions fell to 32.8 in October from 40.3 in September.

Hadson Toko Recalls Eishindo Jelly Cups For Choking Risk

Hadson Toko Trading Co., Inc. is recalling Eishindo jelly cups citing a potential choking hazard, the U.S. Food and Drug Administration announced.

The recall involves 28.2 ounces or 800g bags of Eishindo Mini Cup Jelly (50pcs). The recalled jelly cups were distributed across the United States in retail food stores and are sold in large clear bags of 50 jelly cups. The UPC code is, “4970481000034,” and product code is, “E007.”

The agency noted that the recall was due to the product being a potential choking hazard based off of its product size and consistency.

Small jelly cups have previously been implicated in choking deaths of children.

However, the company to date has not received any reports of consumers choking due to the affected product.

Consumers are urged to return the products for a full refund.

In similar incidents, citing choking risks, Manhattan Toy Company LLC in July called back ‘Manhattan Ball’ activity toys, which were sold exclusively at Target Stores.

Further, Rong Shing Trading NY Inc. in mid June recalled certain Xi Zhi Liang Konjac powder Fruit Jelly Cups.

Boris Johnson tells UK 'get ready for no-deal Brexit' after trade talks fail

Boris Johnson has admitted that a trade deal with the EU is looking increasingly unlikely.

He said it’s time to ‘get ready’ for the prospect of a no-deal Brexit after the latest round of talks failed.

The prime minister claimed: ‘Unless there’s a fundamental change of approach, we should go for the Australia solution.’

He suggested he was not completely walking away from negotiations, adding: ‘What we’re saying to them is come here, come to us, if there’s some fundamental change of approach.’

More to follow

Republican Sen. Joni Ernst Botches ‘Most Midwestern Moment’ Ever In TV Debate

Sen. Joni Ernst (R-Iowa) may have not done herself any favors during a debate with Democratic challenger Theresa Greenfield on Thursday night.

The two candidates were each questioned about something essential to many Iowa farmers: the price of soybeans and corn. 

Greenfield was asked if she knew the price of corn. She not only answered correctly, but also worked in some observations about what those numbers mean to struggling farmers. 

Yet when Ernst was asked the price of soybeans, she first ducked the question, speaking for more than a minute on trade issues. Then, when asked again about the price of soybeans, she fumbled and got it wrong.

After being corrected by the moderators, Ernst accused Greenfield of not answering either (she did). Next, Ernst indicated she was answering about the price of corn, in which case her response was still well off the mark. Finally, she blamed the audio problems that had cropped up several times during the debate:

FiveThirtyEight rates the race a tossup, with a slight edge to Greenfield.

Former South Bend, Indiana Mayor Pete Buttigieg ― a Democrat ― said on Twitter that the exchange was “possibly the most Midwestern moment in the history of televised Senate debates.”

Following the debate, Greenfield took a victory lap on Twitter:

Boeing 737 Max is safe to fly again, Europe's aviation regulator says

  • Europe's aviation regulator has said Boeing's 737 Max aircraft is safe to fly again.
  • Boeing is yet to implement a software upgrade on the 737 Max that the regulator called for.
  • The 737 Max was grounded in March 2019 following two accidents that left 346 people dead.

Europe's aviation regulator has declared Boeing's 737 Max aircraft safe to fly after it was grounded in March 2019 following two accidents that left 346 people dead.

Patrick Ky, executive director of the European Union Aviation Safety Agency, told Bloomberg Friday that he's satisfied with the changes Boeing has made to the aircraft, adding that the aircraft could return to the region's skies before the end of 2020.

The announcement comes even though Boeing is yet to implement a software upgrade that his agency demanded. It could be two years before it's ready.

After more than half a year with no orders, Boeing announced that it had sold two 737 Max planes to Polish charter airline Enter Air in August.

Boeing and the European Union Aviation Safety Agency did not immediately respond to a CNBC request for comment.

Read the full story on Bloomberg's website here.

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