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☆ CNBC Daily Open: Powell says high rates threaten growth
▼ + stars: | 2024-07-10 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Inching to recordsThe S&P 500 and the Nasdaq Composite inched their way to intraday and record closes as Federal Reserve Chair Jerome Powell warned of the dangers of keeping interest rates high. The yield on the 10-year Treasury note rose even as Powell said progress had been made on inflation. Growth in jeopardyPowell warned that keeping interest rates high for too long could harm economic growth. "Putin wants nothing less — nothing less — than Ukraine's total subjugation, to end Ukraine's democracy," Biden said.

Persons: Inching, Jerome Powell, KeyBanc, Apple, Powell, Joe Biden, NATO's, Putin, Biden, Max, Emmanuel Macron's, Macron, Genuity Organizations: CNBC, Nasdaq, Nvidia, Dow Jones Industrial, Russia, Patriot, Boeing Locations: intraday, Ukraine, U.S, Germany, Romania, Netherlands, Italy, Europe

☆ Boeing sold just three passenger jets in the past month
▼ + stars: | 2024-07-09 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Boeing said it sold just 14 new jets in the past month, with most of those coming as freighter sales. It had come into the year with a record sales month in December, but sales ground to a virtual halt following the Alaska Air incident. That certification, originally expected this year, has been pushed back to at least 2025 by the problems brought to light by the Alaska Air incident. The company agreed Sunday to plead guilty to its employees defrauding the FAA during the original certification process for the 737 Max. The plane it sold to Alaska Air is also a 737 Max 10 to replace the plane that lost the door plug in January.

Organizations: New, New York CNN, Boeing, Alaska Airlines, American Airlines, Federal Aviation Administration, FAA, Alaska Air Locations: New York, Alaska

☆ What a Trump presidency could mean for the dollar and the stock market
▼ + stars: | 2024-07-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

There are other reasons the dollar has been propelled higher as some European and Asian currencies have seen lackluster growth. A strong dollar makes US exports more expensive and reduces the profits of American companies operating overseas when earnings are converted back to dollars. And while a strong dollar lowers the cost of imported raw materials, it can boost inflation and hurt foreign investments. The families of victims of two fatal crashes of the 737 Max oppose the deal, the department said. Beyond the fatal crashes of the 737 Max jets, the company has faced a series of questions about the safety and quality of its planes.

Persons: it’s, Donald Trump, Joe Biden, Trump, ”, Lisa Shalett, Morgan Stanley, Louis Navellier, Jeanne Sahadi, Read, Max, Chris Isidore Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Fed, Republican, Morgan Stanley Wealth Management, Navellier, Associates, New York Federal Reserve, Boeing, Justice Department, Alaska Airlines Locations: New York, ”, China, Japan, United States

CNN —A United Airlines plane lost a wheel while taking off Monday from Los Angeles International Airport, officials said, marking the latest issue this year for the airline, which was already the focus of a safety review by federal aviation officials. The Boeing 757-200 that lost its wheel completed its planned flight to Denver, where it safely landed, United said. “The wheel has been recovered in Los Angeles, and we are investigating what caused this event,” the airline said in a statement. The incident comes months after another United Airlines flight lost a wheel while taking off from San Francisco International Airport, damaging several cars in a parking lot. The incident was one of at least a dozen involving United Airlines flights in March, according to a CNN analysis, prompting CEO Scott Kirby to send a safety message to customers.

Persons: ”, Scott Kirby, ” United, ” CNN’s Gregory Wallace, Samantha Delouya, Taylor Romine, Sara Smart Organizations: CNN, United Airlines, Los Angeles International Airport, Boeing, Pilots, LAX, bravo, Federal Aviation Administration, San Francisco International Airport, FAA, United, ” Locations: Denver, United, Tulsa , Oklahoma, Los Angeles, Osaka, Japan

☆ CNBC Daily Open: Are markets overly optimistic?
▼ + stars: | 2024-07-09 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 1, 2023. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. While open to collaboration, Elliott plans to give shareholders a say in leadership changes if the board remains unresponsive. Despite selling $379 million worth of bitcoin in recent weeks, Germany's Federal Criminal Police Office still holds roughly 32,488 bitcoins — worth around $1.9 billion at today's prices.

Persons: Beryl, Elliott, Elliott Management, Bob Jordan, Gary Kelly, Corning, We've, Wendell Weeks, Max Organizations: New York Stock Exchange, CNBC, Nasdaq, Apple, Nvidia, Dow Jones, Treasury, Southwest Airlines, Police, Federal Criminal Police, Boeing, Wall Locations: New York City, U.S, Saxony, Texas

☆ Boeing agrees to plead guilty to defrauding US regulators but escapes punishment sought by victims’ families
▼ + stars: | 2024-07-08 | by ( Chris Isidore | ) edition.cnn.com time to read: 1 min

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☆ Boeing acepta declararse culpable de delito grave
▼ + stars: | 2024-07-08 | by ( Eileen Sullivan | Danielle Kaye | ) www.nytimes.com time to read: 1 min

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Boeing’s announcement on Sunday that it had agreed to plead guilty to a federal criminal charge as part of a deal with the Justice Department was the culmination of a yearslong crisis involving the company’s 737 Max plane. The agreement may help Boeing put to rest a federal case stemming from two fatal crashes of the 737 Max in 2018 and 2019. Here’s what else to know about Boeing’s deal with federal prosecutors and other challenges the company is dealing with. Boeing and the Justice Department first reached an agreement in 2021 about the two crashes that allowed the company to avoid criminal charges. But federal prosecutors this year said that the company had violated the terms of that agreement and came up with a new one, which was agreed to in principle on Sunday.

Persons: Max Organizations: Justice Department, Boeing

On Today’s Episode:Top House Democrats Privately Say Biden Must Go as Allies Insist He Must Do More, by Luke Broadwater, Robert Jimison and Annie KarniFrench Election Yields Deadlock as Left Surges and Far Right Comes Up Short, by Roger CohenBeryl Strengthens Into a Hurricane as It Approaches Texas, by Edgar Sandoval, Miranda Rodriguez and Maria Jimenez MoyaBoeing Agrees to Plead Guilty to Felony in Deal With Justice Department, by Eileen Sullivan and Danielle Kaye

Persons: Biden, Luke Broadwater, Robert Jimison, Annie Karni, Roger Cohen Beryl, Edgar Sandoval, Miranda Rodriguez, Maria Jimenez Moya Boeing, Eileen Sullivan, Danielle Kaye Organizations: Go, Deal, Justice Department Locations: Texas

☆ Boeing pleads guilty to fraud: Here's what you need to know
▼ + stars: | 2024-07-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoeing pleads guilty to fraud: Here's what you need to knowTony Bancroft, Gabelli Funds portfolio manager, and Legal analyst Danny Cevallos join 'Power Lunch' to discuss Boeing's pleading guilty to fraud and its implications for the company.

Persons: Tony Bancroft, Danny Cevallos, Boeing's Organizations: Boeing

☆ Boeing's big mea culpa just dropped and it doesn't look pretty
▼ + stars: | 2024-07-08 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Last week, Bloomberg reported that federal prosecutors had offered Boeing the choice of either accepting the plea deal or risk facing trial. Under the plea deal, Boeing will have to pay a fine of $243.6 million. This is on top of the $243.6 million Boeing had already paid as part of the 2021 settlement it breached. Related storiesPaul Cassell, an attorney for 15 of the victims' families, told BI on Monday that he has filed an objection to the plea deal. "A judge can reject a plea deal that is not in the public interest, and this deceptive and generous deal is clearly not in the public interest."

Persons: —, Paul Cassell, " Cassell Organizations: Service, Boeing, Justice Department, Business, Bloomberg, BI, Max, DOJ, Federal Aviation Administration, Company Locations: Indonesia, Ethiopia

☆ Boeing agreed to plead guilty to a fraud conspiracy charge over the 737 Max saga, but it isn't out of the woods just yet
▼ + stars: | 2024-07-08 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Read previewBoeing has agreed to plead guilty to one count of fraud conspiracy, the Justice Department said in a Sunday court filing. In May, the Justice Department said Boeing failed to "design, implement, and enforce a compliance and ethics program." AdvertisementSunday's plea deal will see Boeing pay an additional $243.6 million — the same criminal penalty as in 2021. Advertisement"This sweetheart deal fails to recognize that because of Boeing's conspiracy, 346 people died," he said in a statement. Government contractsBy pleading guilty to fraud conspiracy, Boeing will have committed a felony — jeopardizing its government contracts.

Persons: —, it's, Paul Cassell, Sunday's, Richard Blumenthal Organizations: Service, Boeing, Justice Department, DoJ, Business, Alaska Airlines, Street Journal, FBI

☆ Boeing Agrees to Plead Guilty to Felony in Deal With Justice Department
▼ + stars: | 2024-07-08 | by ( Eileen Sullivan | Danielle Kaye | ) www.nytimes.com time to read: +1 min

Boeing agreed on Sunday to plead guilty to a felony charge of conspiring to defraud the federal government over two fatal crashes of the 737 Max in 2018 and 2019, according to a late-night court filing. The company will be put on probation, supervised by the Federal District Court for the Northern District of Texas, for three years. As part of the probation, the Justice Department will appoint an independent compliance monitor who will make sure that safety measures are in place and followed, submitting annual reports to the government. The decision by Boeing to plead guilty is significant because the company has not been convicted of a federal felony in decades. In the filing, the department described the charge of conspiring to defraud the federal government as “the most serious readily provable offense.”

Persons: Max, —, ” Organizations: Boeing, Federal, Court, Northern, Northern District of, Justice Locations: Northern District, Northern District of Texas

☆ Boeing pleads guilty to criminal fraud charge stemming from 737 Max crashes
▼ + stars: | 2024-07-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoeing pleads guilty to criminal fraud charge stemming from 737 Max crashesCNBC's Phil LeBeau joins 'Squawk Box' with the latest news from Boeing.

Persons: Max, Phil LeBeau Organizations: Boeing

☆ Air travel demand is breaking records. Airline profits are not
▼ + stars: | 2024-07-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +6 min

Scott Olson | Getty ImagesRecord summer air travel demand isn't translating to record U.S. airline profits. Some airlines have forecast record demand, and in some cases, revenue. American Airlines on May 28 cut its second-quarter revenue and profit forecasts and announced its chief commercial officer was leaving after a sales strategy backfired. "The domestic supply and demand imbalance has led to a weaker domestic pricing environment than we had forecast," American Airlines CEO Robert Isom said at a Bernstein industry conference the next day. Travelers at New York's LaGuardia Airport Leslie Josephs/CNBCSouthwest Airlines cut its second-quarter forecast in late June, citing shifting demand patterns.

Persons: Scott Olson, sprees, Raymond James, Savanthi Syth, Scott Group, Hopper, Airfare, Robert Isom, Leslie Josephs, Bob Jordan, Pratt, Ted Christie Organizations: O'Hare, Getty, Airbus, Boeing, Pratt & Whitney, NYSE Arca, Paris, Investors, Delta Air Lines, Analysts, Delta, American Express, United Airlines, Alaska Airlines, Wolfe Research, Scott, theTransportation Security Administration, Airlines, Airline, Aircraft, U.S, American Airlines, CNBC Southwest Airlines, Elliott Investment Management, Politico, JetBlue Airways, Frontier Airlines, JetBlue, Spirit Airlines Locations: Chicago, Delta, Alaska, U.S, Europe, New, Dallas

☆ Shield Capital's Raj Shah talks the relationship between the Pentagon and Silicon Valley
▼ + stars: | 2024-07-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShield Capital's Raj Shah talks the relationship between the Pentagon and Silicon ValleyRaj Shah, Shield Capital managing partner, joins 'Closing Bell Overtime' to talk the defense sector, the fallout of Boeing's plea deal and more.

Persons: Raj Shah, Shah Organizations: Pentagon, Shield Capital

☆ Stocks making the biggest moves midday: Paramount Global, Morphic Holding, Ideaya Biosciences and more
▼ + stars: | 2024-07-08 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Skydance and its financial backers will invest more than $8 billion into Paramount and to acquire National Amusements, Paramount's controlling shareholder. Morphic Holding – Shares rallied 75% on news that Eli Lilly will acquire the biopharmaceutical company in a $3.2 billion deal . The deal will give Eli Lilly access to Morphic's portfolio of treatments in development, such as those for ulcerative colitis and Crohn's disease. Shares of Eli Lilly advanced 1.3% on the news. Boeing – Shares fell slightly after the airplane maker agreed to plead guilty to criminal fraud related to the fatal 737 Max crashes, sparing Boeing from a trial.

Persons: Eli Lilly, BofA, Corning, Guggenheim, Max, Grayson, Raymond James, Samantha Subin, Pia Singh, Hakyung Kim, Sarah Min, Michelle Fox Organizations: Paramount Global, Skydance Media, Skydance, Paramount, National, Morphic, Ideaya Biosciences, Bank of America, Boeing –, Boeing, ., CNBC, Devon Energy, Gilead Sciences Locations: Columbia, Stifel, Williston, Gilead

☆ CNBC Daily Open: French left-wing shock victory, Boeing guilty plea
▼ + stars: | 2024-07-08 | by ( Abid Ali | ) www.cnbc.com time to read: +4 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. However, recent profit-taking and valuation concerns led to a pullback and a rare downgrade from a Wall Street analyst. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. Kolanovic wasn't the only Wall Street strategist to be caught out by the bull run — but rival banks have incrementally increased their calls.

Persons: Skydance, David Ellison, Marko Kolanovic, Kolanovic, Lori Calvasina, Calvasina, Tesla, Tom Narayan, Squawk, Narayan, Tom Sosnoff, Bill Ackman, Warren Buffett, Sosnoff, — CNBC's Pia Singh, Alex Harring, Holly Ellyatt, Ruxandra Iordache, Ryan Browne, Samantha Subin, Lim Hui Jie, Leslie Josephs Organizations: New York Stock Exchange, CNBC, Nvidia Nvidia, Wall, Paramount, Skydance Media, Paramount Global, Hollywood, Boeing, Justice Department, JPMorgan, RBC Capital Markets, RBC Locations: Hollywood

☆ Boeing to plead guilty to criminal fraud charge stemming from 737 Max crashes
▼ + stars: | 2024-07-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: 1 min

Rescuers work at the scene of an Ethiopian Airlines flight crash near Bishoftu, or Debre Zeit, south of Addis Ababa, Ethiopia, Monday, March 11, 2019. Boeing will plead guilty to a criminal fraud charge tied to the 737 Max crashes, months after a near-catastrophe in January prompted the Justice Department to revisit a 2021 settlement that protected Boeing from prosecution. The plea deal, outlined in a filing late Sunday, requires the approval of a federal judge. Under the deal, Boeing would pay a $243.6 million fine, equal to the amount it paid in the 2021 settlement. "We can confirm that we have reached an agreement in principle on terms of a resolution with the Justice Department, subject to the memorialization and approval of specific terms," Boeing said in a statement.

Organizations: Ethiopian Airlines, Boeing, Justice Department Locations: Bishoftu, Debre Zeit, Addis Ababa, Ethiopia

☆ I flew on a major airline's Pokémon-themed plane. The unforgettable experience didn't cost extra — and it came with souvenirs.
▼ + stars: | 2024-07-07 | by ( Andrew Chen | ) www.businessinsider.com time to read: +1 min

During my flight on the Pikachu Jet NH, I found themed music, cups, and crew uniforms. The special onboard touches and free souvenirs made it a unique and memorable flight. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But amid Boeing delivery delays and high operating costs, some airlines may just have a leg up because of fun collaborations and unique flights. By partnering with Pokémon Air Adventures, major Japanese airline All Nippon Airways (ANA) offers themed flights only a few airlines have.

Persons: — Organizations: All Nippon Airways, Service, Pokémon, ANA, Business Locations: Taipei, Tokyo

☆ The folding wingtips on Boeing's massive new 777X are a first in commercial aviation. Here's why the plane needs them.
▼ + stars: | 2024-07-06 | by ( Taylor Rains | ) www.businessinsider.com time to read: +1 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewBoeing's latest addition to its growing fleet of commercial jets is the innovative 777X. This story is available exclusively to Business Insider subscribers. AdvertisementThat's thanks to its mammoth engines and wingspan, the latter sporting a revolutionary technology not yet seen in commercial aviation but necessary for the plane's success: folding wingtips.

Persons: —, Tim Clark Organizations: Service, Boeing, Dubai Airshow, Airbus, British Airways, Emirates, Lufthansa, Business

☆ Former United Airlines CEO on Boeing: Fighting the U.S. government is never a good idea
▼ + stars: | 2024-07-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer United Airlines CEO on Boeing: Fighting the U.S. government is never a good ideaOscar Munoz, former United Airlines chairman and CEO, joins 'Squawk Box' to discuss the deadline facing Boeing today to either plead guilty to a felony fraud charge or go to trial against the Justice Department stemming from its door panel blowout and subsequent quality control issues, how the company can restore its quality control, state of summer travel, and more.

Persons: Oscar Munoz Organizations: Former United Airlines, Boeing, United Airlines, Justice

☆ Japan: US sending dozens of F-15EX, F35 fighter jets in $10 billion modernization
▼ + stars: | 2024-07-05 | by ( Brad Lendon | ) edition.cnn.com time to read: +6 min

Japan said basing the new fighter aircraft in the country would enhance US capabilities there. But from 2022, as the twin-engine fighters neared the end of their service life, the US Air Force began pulling them from Kadena. The F-15EX is the Air Force’s newest fighter jet, with the first operational plane delivered to the Oregon Air National Guard in early June. The F-35As that will be stationed at Misawa Air Base are the Air Force’s newest stealth fighters. F-35s deliver “an enhanced capability to survive in the advanced threat environment in which it was designed to operate,” an Air Force fact sheet says.

Persons: Yoshimasa Hayashi, Carlos Barria, 15EX, Peter Layton, ” Layton, Layton, ”, CNN’s Hanako Montgomery Organizations: CNN, Defense Department, Pentagon, Japan Alliance, Misawa Air Base, Kadena Air Base, Marine Corps Air Station Iwakuni, U.S . Air Force, Chinese Communist Party, US Air Force, Boeing, Military, Air Force’s, Oregon Air National Guard, USAF, Air Force, Griffith Asia Institute, Royal Australian Air Force, Japan Locations: Japan, Okinawa, Hiroshima, Honshu, United States, U.S, China, Russia, North Korea, Tokyo, East, North, Pyongyang, Britain, Australia, Nevada, Taiwan, Kadena, Washington

☆ Delta goes pasta-only for thousands of international travelers after 'spoiled' food forced a flight to divert
▼ + stars: | 2024-07-04 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Delta Air Lines pulled some meal options from dozens of international flights on Wednesday hours after the carrier said reports of "spoiled" food on an Amsterdam-bound flight forced the plane to divert to New York. Delta was only serving pasta in the main cabin on about 75 international flights on Wednesday. Delta apologized to customers over the report of spoiled food in the main cabin on the Detroit-to-Amsterdam flight. "This is not the service Delta is known for and we sincerely apologize to our customers for the inconvenience and delay in their travels," Delta said. The incident occurred in the midst of the peak summer travel season, when Delta and its rivals are fighting over travelers.

Persons: Delta, Ash Dhokte, Dhokte, Henry Harteveldt, Delta's Dhokte Organizations: Boeing, Delta Air Lines, JFK International, Delta, CNBC, Detroit, Atmosphere Research Locations: Dublin, New York, Manhattan, Amsterdam, Delta

☆ Why so much is riding on the 777X, Boeing's newest long-haul plane that is already 5 years late and costing billions
▼ + stars: | 2024-07-04 | by ( Taylor Rains | ) www.businessinsider.com time to read: +7 min

The FAA slowed deliveries after the Alaska Airlines door plug blowout in January and capped Boeing's 737 production. AdvertisementA lot is riding on the new 777X, including proving its modified design was the right strategy over building a new plane from scratch. Boeing's last completely new widebody plane was the 787 way back in 2003. The Boeing 777X's 10-abreast cabin mockup on display at Aircraft Interiors Expo in 2022. Georg Wendt/picture alliance via Getty ImagesDespite the substantial investment, Emirates president Tim Clark has voiced his concern over Boeing's 777X delays.

Persons: —, Richard Aboulafia, there's, it's, Thiago B Trevisan, Julien de Rosa, ROSLAN RAHMAN, Max —, Max, Georg Wendt, Tim Clark, Clark, Aboulafia Organizations: Service, British Airways, Emirates, Singapore Airlines, Business, Boeing, FAA, Alaska Airlines, Airbus, Korean Air, Delta Air Lines, Lufthansa, Air New Zealand, Getty, Aviation, Etihad Airways, Aircraft, Reuters, Air Locations: Korean, AFP, Qatar

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