Monday, 20 May 2024

FAA chief says he'll test Boeing's MAX changes this week

Boris Johnson skips news conference with Luxembourg PM

Luxembourg’s PM had met Johnson to discuss Brexit but said the British leader had offered nothing to convince him and other EU leaders.

    Britain’s Prime Minister Boris Johnson has been booed by crowds after holding Brexit talks in Luxembourg.

    The frosty reception has forced him to abandon a joint news conference with Luxembourg Prime Minister Xavier Bettel.

    Al Jazeera’s Natacha Butler reports.

    Bahamas: Volunteers set up temporary clinic

    Clinic set up by volunteers from International Medical Corps aims to prevent post-hurricane diseases.

      It has been two weeks since Hurricane Dorian hit the Bahamas. More than 1,000 people are still missing and 50 have been confirmed dead.

      Al Jazeera’s Alan Fisher is in the town of High Rock on Grand Bahama Island, where a temporary clinic staffed by volunteers has been set up.

      US futures point to slightly lower open

      • Meanwhile, investors start to shift their focus to an upcoming Federal Reserve meeting, starting Tuesday.
      • There's uncertainty among market players about what the central bank will do. The recent increase in energy prices led some investors to believe that the Fed isn't in such a hurry to cut interest rates, CNBC reported.

      U.S. stocks were set to open slightly lower Tuesday morning.

      At around 2:15 a.m. ET, Dow futures fell 43 points, indicating a negative open of more than 41 points. Futures on the S&P and Nasdaq were also marginally lower.

      Wall Street ended mostly lower on Monday amid ongoing fears over a potential increase in oil prices, after drone strikes in Saudi Arabia. U.S. President Trump said he is not in a rush to respond to the attacks.

      Meanwhile, investors start to shift their focus to an upcoming Federal Reserve meeting, starting Tuesday. There's uncertainty among market players about what the central bank will do. The recent increase in energy prices led some investors to believe that the Fed isn't in such a hurry to cut interest rates, CNBC reported.

      Investors will be looking ahead to a new Biz leaders survey, due at 08:30 a.m. ET; industrial production numbers will be out at 09:15 a.m.; and the housing market index due at 10:00 a.m. ET.

      On the earnings front, Cracker Barrel, Adobe and FedEx will be reporting Tuesday.

      Ex-Vatican treasurer Pell appeals to Australia's High Court to overturn sex offence conviction

      MELBOURNE (REUTERS) – Lawyers for ex-Vatican treasurer Cardinal George Pell on Tuesday (Sept 17) filed an appeal to Australia’s High Court in a final bid to overturn his conviction for sexually abusing two 13-year-old choir boys, the High Court said.

      Pell is seeking leave to appeal against the state of Victoria’s Court of Appeal ruling which upheld his conviction on five charges of abusing two boys at St Patrick’s Cathedral in the late 1990s when he was archbishop of Melbourne.

      Wendy’s To Launch Breakfast Across US; To Hire 20K Employees

      The Wendy’s Co. announced its plan to launch its breakfast menu across the U.S. system in 2020. The company would also recruit about 20,000 new employees to support its expansion plans.

      Wendy’s breakfast menu is currently available in more than 300 restaurants. The menu includes signature items such as the Breakfast Baconator, Frosty-ccino, and Honey Butter Chicken Biscuit.

      The fast-food chain plans to invest about $20 million during 2019 as it prepares the U.S. system for national launch of breakfast.

      Todd Penegor, President and CEO of The Wendy’s, said, “Launching breakfast in our U.S. restaurants nationwide provides incredible growth opportunities. We are well-positioned to pursue it. … we put Wendy’s fan favorites on our breakfast menu to set us apart from the competition.””

      Wendy’s asked individuals who are interested to join the company to visit careers.wendys.com or a local Wendy’s.

      Wendy’s joins various other food chains that are experimenting on ever-growing breakfast demand. Panera in April started serving breakfast wraps and cold brew coffee.

      In August, Del Taco Restaurants introduced its newest breakfast item, Breakfast Toasted Wrap. McDonald’s in February had announced the launch of McCafe Donut Sticks in its breakfast menu for a limited time. The company added new items to its breakfast menu for the first time in more than a decade, as part of its efforts to deal with slowing U.S. sales.

      How to stop a downturn without boosting the deficit or cutting rates

      Is there a way to help the economy without boosting the deficit or cutting interest rates to silly levels?

      I think there is, and it’s a way I’ve suggested many times with no result. But I’ll try again.

      Washington should change the rules — even if only temporarily — so that Americans can have immediate access to money in IRAs, 401(k)s and the like. Let people take money out of these old-age accounts without penalty — and maybe with a reduced ordinary tax — for certain things.

      Put whatever restrictions on these withdrawals that will make the experts comfortable. For instance, limit the amount that can be withdrawn. Or perhaps people can only put a down payment on a house with the money. Or a car. Or use the withdrawn money to pay for education or medical expenses.

      Americans would probably be more thrilled to see the trillions of dollars sitting idly in retirement accounts freed up than they would getting another small tax cut.

      And the US Treasury will benefit from the tax paid on these withdrawals. And if the economy improves because of this, even more tax revenue will come in.

      The deficit? It should go down with the new revenues coming in.

      FAA chief says he'll test Boeing's MAX changes this week

      Boeing posts nearly $3B loss over 737 Max jet woes

      FBN’s Jeff Flock and Bahnsen Group Managing Partner David Bahnsen on the outlook for Boeing.

      The head of the Federal Aviation Administration plans to step into the cockpit of a flight simulator this week in order to personally test changes that Boeing is making to the grounded 737 Max.

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      Stephen Dickson also said Monday that he expects Boeing to submit its safety analysis of changes to the plane "in the coming days."

      Dickson took over in August as the new head of the FAA, which will decide whether U.S. airlines can resume flying the 737 Max. The FAA grounded the Max in March after the second of two crashes that together killed 346 people.

      No date for an actually test flight has been scheduled, which is necessary before the plan can be put back into service.

      CLICK HERE TO READ MORE ON FOX BUSINESS

      A number of major U.S. airlines have canceled flights as a result of the MAX grounding, including American Airlines, United Airlines and Southwest Airlines  are among the major U.S. airlines that have had to cancel flights into early January.

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      The Associated Press has contributed to this article.

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