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☆ Boeing is adding more 737 airplane inspections as company says it's 'clear that we are not where we need to be'
▼ + stars: | 2024-01-16 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Read previewBoeing is introducing more quality assurance measures in its production process for 737 aircraft following a nightmare Alaska Airlines flight on one of the planes last week. "But, the AS1282 accident and recent customer findings make clear that we are not where we need to be." AdvertisementBoeing will open its factories for inspection to airlines that use 737 planes, and the company is bringing in a third party to conduct an independent review of its quality management system, Deal added. The US Federal Aviation Administration has since grounded all Boeing 737 Max 9 planes with that component until it decides they can safely return to operation. Alaska Airlines said Saturday that it's starting a "thorough review of Boeing's production quality and control systems" and will also "enhance our own quality oversight of Alaska aircraft on the Boeing production line."

Persons: —, Stan Deal Organizations: Service, Alaska Airlines, Business, Boeing Commercial Airplanes, Management, Boeing, US Federal Aviation Administration, Max, FAA, Alaska

☆ Alaska Airlines is reviewing Boeing's quality control after a 'candid' meeting with its CEO about the mid-air 737 Max 9 door plug blowout
▼ + stars: | 2024-01-15 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Alaska Airlines said it met with Boeing's CEO last week and will review its quality control systems. AdvertisementAlaska Airlines announced Saturday that it is starting a "thorough review" of Boeing's quality control systems. The airline will also enhance its oversight of the Boeing production line by expanding its team that validates its quality. It added, "We welcome and appreciate" the Federal Aviation Administration's audit of the Boeing 737 Max 9 production line. Alaska Airlines and United Airlines, the world's biggest 737 Max 9 operator with 79, have canceled hundreds of flights as a result.

Persons: —, AeroSystems, Dave Calhoun, Calhoun Organizations: Alaska Airlines, FAA, Max, Service, Boeing, Federal Aviation, Portland International, CNBC, United Airlines Locations: Alaska, Kansas

☆ Boeing is letting airlines into its factories as preliminary inspections begin on the 737 Max 9
▼ + stars: | 2024-01-15 | by ( Pete Muntean | Ross Levitt | ) edition.cnn.com time to read: +2 min

CNN —Boeing says it will give airlines more oversight of its facilities following the Alaska Airlines Flight 1282 incident in which a part of the plane fell off mid-flight. The plane maker said Monday that in addition to extra quality control inspections on the 737 production line, it will allow airlines into Boeing factories and those of contractor Spirit AeroSystems, which builds Max 9 fuselage. Alaska Airlines said it is in the middle a “thorough review of Boeing’s production quality and control systems.” The airline has 65 Boeing 737 Max 9s with another 25 on order, according to fleet data from airlines analytics firm Cirium. Boeing 737 Max 9s remain grounded in the United States as airlines Alaska and United await emergency inspection guidance from the Federal Aviation Administration. On Friday, the FAA announced it will audit Boeing’s production practices as it considers mandating an independent third-party oversee Boeing quality.

Persons: Spirit, Stan Deal, ”, “, Max Organizations: CNN, Boeing, Alaska Airlines, Federal Aviation Administration, Boeing Commercial, Alaska, Max, FAA, National Transportation Safety Locations: Alaska, United States, United, Washington, DC

☆ Boeing's latest 737 Max failure narrowly avoided tragedy — but it won't avoid scrutiny
▼ + stars: | 2024-01-07 | by ( Leslie Josephs | ) www.cnbc.com time to read: +7 min

The 737 Max 9 flown by Alaska Airlines on Friday was delivered less than three months ago. United Airlines and Alaska Airlines, the largest operators of the 737 Max 9, on Saturday said they suspended flights with those planes, forcing the carriers to cancel more than 400 flights. Boeing's leadership has spent roughly five years regrouping after the 2018 and 2019 fatal crashes of its smaller and more popular Boeing 737 Max 8, which prompted a worldwide grounding of both the Max 8 and Max 9, the two types flying commercially. According to Jefferies, the 737 Max 9 represents just 2% of Boeing's backlog of more than 4,500 Max planes. Richard Aboulafia, managing director at aviation consulting firm Aerodynamic Advisory, said the problem on the Alaska Airlines plane appears to be a manufacturing defect, not an inherent design flaw.

Persons: Jason Redmond, Max, Jim Hall, I've, we've, Dave Calhoun, Calhoun, he's, Jennifer Homendy, Aerosystems, John Goglia, Jefferies, Richard Aboulafia Organizations: Reuters Boeing, Alaska Airlines, Federal Aviation Administration, FAA, National Transportation Safety Board, Boeing, United Airlines, Regulators, Airbus, hasn't, Wall Street, NTSB Locations: Renton , Washington, Portland , Oregon, Ontario , California, Portland, United, Alaska

☆ AI Career Switchers: Meet Five People Who Quit Old Roles for AI Jobs.
▼ + stars: | 2024-01-02 | by ( Aaron Mok | ) www.businessinsider.com time to read: +10 min

These workers in accounting, product management, defense, and music quit their jobs to work in AI. Moritz Kremb quit his product manager job to focus on his AI business. Ted Lebantino says there's a high learning curve in developing AI skills. To make the jump into AI, Kremb suggests making a name for yourself on social media by creating content about AI. As for Fineberg, the AI startup CEO says you don't even need to quit your job to break into it.

Persons: —, Moritz Kremb, OpenAI's ChatGPT, Kremb, Weeks, Moritz Kremb There's, who've, Justin Fineberg, there's, Justin Fineberg Justin Fineberg, Uber, Fineberg, Jacqueline DeStefano, Tangorra, Lockheed Martin, Ted Lebantino, — Lebantino, Javier Orman, Javier Orman DeStefano, DeStefano, Orman, switchers Organizations: Service, Business, Meta, Netflix, New Yorker, Omni Business Intelligence Solutions, Lockheed, San Francisco Bay Area, LinkedIn Locations: New, New York, Long, San Francisco Bay, Chicago

☆ AI, autonomous systems, and digital connectivity could help ships cut emissions
▼ + stars: | 2023-11-30 | by ( Amanda Paule | ) www.businessinsider.com time to read: +10 min

Autonomous and AI systems could help reduce ships' fuel use. "The only time the maritime industry is ever on the front page of a paper is when there's an accident. Sea Machines RoboticsJohnson said he saw that decarbonization was not only a bonus of Sea Machines' technology but its best value proposition. The Sea Machines Robotics team can monitor (and celebrate) autonomous vessel operations from a control room. Smart-Ship's "Throttle & Bow Buster" is one of three force-feedback levers they offer to help ships increase safety and fuel savings.

Persons: —, AP Moller, Michael Johnson, Johnson, who's, Sea Machines Robotics Johnson, decarbonization, they've, Jelle, Jelle Tiemensma, Sofia Fürstenberg Stott, Stott, Mikael Lind, Lind Organizations: Service, International Maritime Organization, AP Moller, Maersk, AP, AP Moller Holding, Business, Companies, Crowley, Machines, Sea Machines Robotics, Machines Robotics, Smart, Sofia, Sustainable Shipping, Research Institutes of Sweden, International

☆ Ukraine got the top tanks it wanted from the West, but they're not yet changing the game
▼ + stars: | 2023-11-25 | by ( Chris Panella | ) www.businessinsider.com time to read: +10 min

Ukraine got the Leopard, Challenger, and Abrams tanks it asked its Western partners for. It's up to Ukraine to either use the tanks to defend against Russian offensives or preserve them for next spring, experts told Business Insider. AdvertisementNow, almost two years into the war, Ukraine has a force of advanced Western tanks at its disposal. Advertisement"These Western type of tanks are qualitatively superior to even the best Russian tanks that the Russians are using in Ukraine," Gentile told Business Insider. There are also questions of whether or not these will be the only Western tanks Ukraine gets, or if there are more in the pipeline.

Persons: Abrams, —, Seth G, Jones, Harold Brown, There's, Gian Gentile, RAND's, Austin Berner Ukraine, M1 Abrams, Gentile, Iraq's, DANIEL LEAL, hasn't, it's, Philipp Schulze, there's, they're Organizations: Russian, Service, Leopards, Transnational, Center for Strategic, International Studies, RAND's Arroyo Center, US Army, Army Staff, Challenger, M1, Soviet, Defense, Ministry of Defence, Getty, Business, Bundeswehr, Ukraine Locations: Ukraine, Ukrainian, Fort Benning, Ga, Soviet, Russia, Soviet Union, England, Zaporizhzhia, Azov, Crimea, Avdiivka, Russian, Lower Saxony, Bergen

☆ Biden and Xi sought to pull away from deepening conflict. They failed.
▼ + stars: | 2023-11-16 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Biden and Xi sought to smooth frayed relations at their meeting on during the APEC summit. AdvertisementChinese leader Xi Jinping was keen to stress the potentially dire consequences of US-China tensions after his first meeting with Joe Biden in more than a year. Xi seemed keen in the speech to find common ground after months of worsening relations between the superpowers. As notable as the successes, were the areas where Biden and Xi failed to reach an agreement. And in the South China Sea, a region where China has sought to establish its dominance, Chinese warplanes have sought to intimidate US fighter jets.

Persons: Biden, Xi, —, Xi Jinping, Joe Biden, Jonathan Ward, Xi's, Nancy Pelosi's Organizations: APEC, Service, Wednesday's, Allies, Atlas Group, The New York Times Locations: China, San Francisco ., United States, San Francisco, Taiwan, Ukraine, East, Russia, Israel, Gaza, South China

President Biden said on Wednesday that four hours of discussion with President Xi Jinping of China had brought about two significant agreements, on curbing fentanyl production and on military-to-military communications. But both American and Chinese accounts of their first encounter in a year indicated little progress on the issues that have pushed the two nations to the edge of conflict. Emerging from the talks, and a brief walk with Mr. Xi on the grounds of a mansion south of San Francisco, Mr. Biden told reporters that the conversation had been the “most constructive and productive” between the two men since Mr. Biden had come to office. The agreements they announced were modest, however, and their most important commitments were to keep talking and to pick up the phone in times of crisis. Instead, Mr. Biden’s aides said that Jake Sullivan, the national security adviser, would keep talking with Wang Yi, China’s chief foreign affairs official.

Persons: Biden, Xi Jinping, Xi, Mr, Biden’s, Jake Sullivan, Wang Yi Locations: China, San Francisco

☆ Tech execs are reportedly 'scrambling' to score a ticket to a dinner with China's president in San Francisco
▼ + stars: | 2023-11-14 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Chinese President Xi Jinping is slated to host an exclusive dinner for top executives during the summit. Tech leaders will have the opportunity to improve their business relationship with China. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementTech titans are expected to converge on San Francisco this week for some face time with the president of China. As such, a dinner invite from Chinese President Xi Jinping is highly coveted by executives attending the meeting.

Persons: execs, Xi Jinping, —, Satya Nadella, Citigroup's Jane Fraser, Tesla, Elon Musk, Xi, Darren Woods, Musk, Marc Benioff, Tim Cook isn't, Dan Prud'homme, Joe Biden Organizations: APEC, Tech, Service, Economic Cooperation, America, Microsoft, SpaceX, Bloomberg, Reuters, Exxon, Energy, Curb, Apple, Florida International University Locations: San Francisco, China, Asia, Taiwan

☆ Why these industrial giants are betting on the transition to clean energy
▼ + stars: | 2023-11-13 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

"Right now, some of our favorite secular themes are the mega trends benefitting from a wave of federal spending — and the energy transition is one of those themes," he explained. CAT YTD mountain Caterpillar (CAT) year-to-date performance Elsewhere, Caterpillar has said the "energy transition and growing global energy demand are increasing [it's] total addressable market and furthering opportunities for long-term profitable growth." In terms of the energy transition, the company's aerospace business could see a boost from its development of sustainable aviation fuels. CEO Vimal Kapur last month said the industrials giant is "beginning to feel the urgency behind [the] energy transition." "Honeywell is in a unique position to both help the world meet today's growing energy needs, while also enabling the energy transition," Kapur said.

Persons: we're, Jeff Marks, Linde, Wall, I'm, Jim Cramer, Vimal Kapur, Kapur, Jim Cramer's, Jim, Krisztian Bocsi Organizations: Linde, LIN, Honeywell, Caterpillar, Investing, ExxonMobil, Exxon, BMO Capital Markets, Bank of America, CAT, CNBC, Linde AG, Treatment, Berlin, Bloomberg, Getty Locations: U.S, Berlin, Germany

☆ Biden and Xi will sign a deal to keep AI out of control systems for nuclear weapons: report
▼ + stars: | 2023-11-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

China's President Xi Jinping and US President Joe Biden will meet this week. They're expected to agree to limit the use of AI in nuclear weapons, a report said. AdvertisementAdvertisementUS President Joe Biden and his Chinese counterpart Xi Jinping are set to sign a deal limiting the use of artificial intelligence in nuclear weapon control systems, according to The South China Morning Post. Biden and Xi will pledge a deal limiting the use of AI in autonomous weaponry, such as drones, as well as the systems used for the control and deployment of nuclear warheads, the report said. Secretary of State Antony Blinken was asked last week about prospects the US and China could come to some understanding about keeping AI in nuclear weapons.

Persons: Xi Jinping, Joe Biden, They're, —, Xi, Biden, Vladimir Putin, Volodymyr Zelenskyy, Oriana Skylar Mastro, Stanford University's Freeman, Antony Blinken Organizations: Service, South China Morning Post, Economic Cooperation, White, Stanford, Stanford University's Freeman Spogli Institute for International Studies Locations: China, Asia, San Francisco, Ukraine, Russian, Israel, Beijing, Gaza, Hague, Bletchley Park, Japan

LONDON (AP) — Residents of a fishing town in southwestern Iceland left their homes Saturday after increasing concern about a potential volcanic eruption caused civil defense authorities to declare a state of emergency in the region. The town of 3,400 is on the Reykjanes Peninsula, about 50 kilometers (31 miles) southwest of the capital, Reykjavik. Authorities also raised their aviation alert to orange, indicating an increased risk of a volcanic eruption. Concern about a possible eruption increased in the early hours of Thursday when a magnitude 4.8 earthquake hit the area, forcing the internationally known Blue Lagoon geothermal resort to close temporarily. The magma corridor is about 10 kilometers (6.2 miles) long and spreading, he said.

Persons: Grindavik, Pall Einarrson, Iceland’s RUV, “, ” Organizations: —, . Police, Iceland’s, “, Meteorological Office, Authorities Locations: Iceland, Reykjavik, Europe, North America, Grindavik, Grindavík

☆ Microsoft temporarily blocked staff from using ChatGPT over security concerns, report says
▼ + stars: | 2023-11-10 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Microsoft temporarily blocked employees from using ChatGPT on Thursday, CNBC reported. Staff were warned OpenAI's chatbot is an "external service" that posed privacy and security risks. AdvertisementAdvertisementMicrosoft temporarily blocked its employees from using ChatGPT, according to CNBC reported . Several big tech companies, including Amazon and Apple , have issued bans on using ChatGPT internally over fears that using it could lead to leaks of confidential data. Microsoft and OpenAI did not immediately respond to requests for comment from Insider, made outside normal working hours.

Persons: OpenAI's chatbot, —, chatbot, it's, ChatGPT, Sam Altman, OpenAI, Altman Organizations: Microsoft, CNBC, Staff, Service, Amazon, Apple Locations: OpenAI

☆ Russian Spies Behind Cyberattack on Ukrainian Power Grid in 2022 - Researchers
▼ + stars: | 2023-11-09 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

By James PearsonLONDON (Reuters) - Russian cyber spies were behind a hack which disrupted part of Ukraine's power grid in late 2022, U.S. cybersecurity firm Mandiant, part of Google, said in a report on Thursday, in a rare and advanced form of cyberwarfare. Last October, a massive wave of Russian missile strikes on Ukraine's power network caused blackouts in many parts of the country, prompting Kyiv to halt electricity exports and leaving four regions temporarily without electricity. Sandworm hackers rose to prominence in 2015 after a separate cyberattack against Ukraine’s power grid which cut off power for around 255,000 people. The disruptive, digital, intrusion was widely considered to be one of the first, known, successful cyberattacks against a power network. “There have only been a handful of incidents similar to this, with the majority carried out by Sandworm,” Mandiant analyst Nathan Brubaker said.

Persons: James Pearson, ”, Sandworm, Nathan Brubaker, Christopher Bing, Sharon Singleton Organizations: James Pearson LONDON, Google Locations: Russian, Russia, Ukraine, Kyiv, London, Washington

(AP) — The automatic braking system railroads were required to install several years ago needs improvement to better prevent collisions, federal safety investigators said in a report Wednesday. The National Transportation Safety Board has said more than 150 train crashes since 1969 could have been prevented by Positive Train Control. The agency had recommended the automatic braking system for years before it was mandated by Congress, which extended the original 2015 deadline twice and gave railroads until the end of 2020 to complete the system. The crash was likely caused by an overheating bearing and isn't one the automatic braking system is designed to prevent. The National Transportation Safety Board said there are several shortcomings of the current railroad braking system that developed partly because the system had to be designed so that every railroad's system would work on another railroad.

Persons: Jessica Kahanek, Federal Railroad Administration didn't, Jennifer Homendy, doesn't Organizations: National Transportation Safety, Federal Railroad Administration, Railroads, National Transportation, Train Control, Congress, of American Railroads, Railroad, Norfolk Southern, National Transportation Safety Board Locations: OMAHA, Neb, California, Norfolk, Ohio

☆ How Bill Nye, ‘The Science Guy’ educated Google Bard on how AI can help save the world
▼ + stars: | 2023-10-29 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +3 min

You may not know this, but Bill Nye, "The Science Guy," has professional experience overseeing new and potentially dangerous innovations. Still, computer science is not the skill that Nye thinks is the most important for students to learn. We don't want a smaller and smaller fraction of people understanding a more complex world," Nye said. During the conversation with CNBC's Tyler Mathisen at the TEC Summit on AI, CNBC surprised Nye with a series of questions that came from a prompt given to the Google generative AI Bard: What should we ask Bill Nye about AI? Watch the video above to see all of Bill Nye's answers to the AI about how it can help save the world.

Persons: Bill Nye, Guy, Nye, CNBC's Tyler Mathisen, Bard, —, Bill Nye's Organizations: Boeing, CNBC Technology, Summit, TEC, CNBC Locations: New York City

☆ Ukrainian fighter pilots could soon make the jump to real F-16s that don't fly quite like the jets they know best
▼ + stars: | 2023-10-26 | by ( Ryan Pickrell | ) www.businessinsider.com time to read: +9 min

Ukrainian fighter pilots learning to fly the F-16 could soon make the jump to real combat aircraft. The F-16 flies a bit different from the fighter aircraft they know, namely MiG-29s and Su-27s. AdvertisementAdvertisementTwo U.S. Air Force F-16 Fighting Falcon aircraft sits parked on flight line at MacDill Air Force Base, Sept. 8, 2021. US Air Force photo by Airman 1st Class Lauren CobinSimulator training will help ease the transition with these potential differences, but getting up to speed in an actual plane still takes time. Training has been ongoing at the Danish military air base in Skrydstrup and in the US at Lackland Air Force Base in Texas and Morris Air National Guard Base in Arizona.

Persons: —, Ukraine's, Yuriy Ihnat, Ihnat, Mike, Torrealday, Efrem, Julianne Showalter, you'd, Lockheed Martin, Lauren Organizations: MiG, Service, US Air Force Reserve, Ukrainian Air Force, National Museum of, United States Air Force US Air Force, Soviet, Air Force, General Dynamics, . Air Force, Falcon, MacDill Air Force Base, US Air Force, US, Lackland Air Force Base, Morris Air National Guard Base Locations: American, Ukrainian, Kyiv, Soviet, Iraq, Poland, Romania, Denmark, United States, Skrydstrup, Texas, Arizona, Ukraine

Citi's net income rose 2% to $3.5 billion from a year ago, while earnings per share remained stable at $1.63. Revenue at Citi's institutional clients group that houses its Wall Street operations rose 12% from a year ago, fueled by a 34% jump in investment banking fees. Citi's total provision for the credit portfolio rose to $17.6 billion from $16.3 billion a year ago. Fraser announced a sweeping reorganization last month that will disband ICG and give her more direct oversight over the company's businesses. Rivals Wells Fargo (WFC.N) and JPMorgan Chase (JPM.N) also reported higher quarterly profit on Friday, boosted by a rise interest payments.

Persons: Nick Zieminski, Jane Fraser, Fraser, Rivals Wells, JPMorgan Chase, Manya Saini, Tatiana Bautzer, Lananh Nguyen, Arun Koyyur Organizations: Citibank, REUTERS, Federal, ICG, Citi, Rivals, JPMorgan, Thomson Locations: Jackson, Queens, New York City, U.S, Bengaluru, New York

The bank said its recently announced reorganization plan will result in a 15% reduction in functional roles and that the first phase of the plan eliminated 60 net committees. Revenue at Citi's institutional clients group that houses its Wall Street operations rose 12% from a year ago, fueled by a 34% jump in investment banking fees. The bank's trading unit also boosted revenue, while its division providing treasury and securities services to corporations brought in 12% more revenue. At Citi, the total provision for the credit portfolio rose to $17.6 billion from $16.3 billion a year ago. Fraser announced a sweeping reorganization last month that will disband ICG and give her more direct oversight over the company's businesses.

Persons: Nick Zieminski, Jane Fraser, Fraser, Rivals Wells, JPMorgan Chase, Manya Saini, Tatiana Bautzer, Lananh Nguyen, Arun Koyyur Organizations: Citibank, REUTERS, LSEG, Citi, Federal, ICG, Rivals, JPMorgan, Thomson Locations: Jackson, Queens, New York City, U.S, Bengaluru, New York

☆ Tesla whistleblowers filed a complaint to the SEC in 2021, but the agency never interviewed them. Here's what the complaint said
▼ + stars: | 2023-10-12 | by ( Lora Kolodny | ) www.cnbc.com time to read: +22 min

With a "goodwill" repair, Tesla essentially foots the bill for labor, parts or accessories given to keep a customer happy. "Were Tesla to accurately categorize its 'goodwill' repairs as warranty repairs, it would likely need to restate earnings for every quarter since at least 2017," the tipsters wrote in their submission. In one example, the tipsters said screenshots showed other Tesla employees changed the status of material used in manufacturing from "scrap" to "work in progress." In another example, the complaint said screenshots showed Tesla employees had manually changed the status of "used" cars to "new" in a program that tracked vehicle deliveries data. In correspondence to the agency expanding on their complaint, the whistleblowers alleged this raises questions about the firm's independence and objectivity in judging Tesla's financials.

Persons: Brandon Bell, Elon, Tesla's, Tesla, Musk, Ann Lipton, Lipton, Karen Nelson, Nelson, Nicholas Parks, it's, Oxley, restate financials Organizations: Getty, U.S . Securities, Exchange Commission, SEC, PricewaterhouseCoopers, CNBC . Agency staff, CNBC, Twitter, Tulane Law School, University of Chicago Law School, Securities, Sarbanes, Oxley, Texas Christian University, Public Company, Tesla, Parks, Nelson, Business, Exchange, Board, SpaceX, The Boring, California Alternative Energy, Transportation Financing Authority Locations: Austin , Texas, Tesla, California, U.S, Delaware

☆ DOJ sues eBay for selling ‘rolling coal’ devices; fines could hit $2 billion
▼ + stars: | 2023-10-11 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Ebay could be on the hook for as much as $2 billion in fines for allegedly allowing hundreds of thousands of "rolling coal" pollution devices and other products that violate environmental laws to be sold on its platform. The Department of Justice, on behalf of the Environmental Protection Agency, filed a lawsuit claiming that the e-commerce giant enabled the sale of more than 343,000 rolling coal devices. The DOJ's 61-page complaint included screenshots of emissions tampering devices that were listed on eBay's platform. Rolling coal devices are among several tools that can be used to disable or tamper with a vehicle's pre-installed emissions control systems, which the EPA requires of all vehicles. Under the Clean Air Act, tampering with a vehicle's emissions control systems and selling those tampering tools are illegal.

Organizations: Ebay, of Justice, Environmental Protection Agency, DOJ, eBay, Act Locations: New Jersey , Maryland, Maine

☆ Japan and South Korea defense stocks jump after Hamas attack, aviation stocks slide
▼ + stars: | 2023-10-10 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

At his first troop review Saturday, Kishida renewed his pledge to consider "all options," including acquiring enemy base strike capability. Japanese and South Korean defense stocks surged on Tuesday as both stock markets returned to their first day of trading following the weekend attack of Israel by Palestinian militants Hamas. In South Korea, defense heavyweights Hanhwa Aerospace — which builds artillery and air defense systems — gained 2.23%, while Korea Aerospace Industries rose 4.07%. KAI produces fighter jets and aviation platforms for the South Korean military. Smaller South Korean defense players saw bigger gains.

Persons: Fumio Kishida, Kishida, Israel, KAI Organizations: Japan's, Defense Force, Hamas, Hanhwa Aerospace, Korea Aerospace Industries, South Korean, Kawasaki Heavy Industries, Japan's Self Defense Forces Locations: Japan, Tokyo, Israel, Gaza, South Korea

☆ Japan to allocate $205 million to support electric aircraft systems, Nikkei reports
▼ + stars: | 2023-10-08 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Oct 8 (Reuters) - Japan will subsidize hydrogen fuel cell systems and other equipment to the tune of 30.6 billion yen ($205 million), the Nikkei business daily reported on Sunday. The government's decision is aimed at supporting the development of components for electric aircraft with reduced carbon dioxide (CO2) emissions, the newspaper said. The trade ministry is expected to present the policy at a working group of the ministry's council, it said. The government will allocate 17.3 billion yen for the development of hydrogen fuel cell systems for aircraft, and 13.3 billion yen for the development of fuel-efficient engine control systems, the Nikkei said. ($1 = 149.3200 yen)Reporting by Kaori Kaneko; editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Kaori Kaneko, Robert Birsel Organizations: Nikkei, Thomson Locations: TOKYO, Japan, ministry's

Hollysys offers integrated services for industrial automation and rail transport, according to its website, and its control systems have been used in sensitive areas such as nuclear power stations. In August, a consortium led by Recco Control Technology and Dazheng Group Investment Holdings made an all-cash offer of $25 per share to buy the company. The special committee will discuss the next steps with Recco Control and Dazheng Group (Hong Kong) in response to the offer to acquire the company, while expediting the process to seek "additional serious and compelling offers," Hollysys said in a statement. Deutsche Bank will solicit additional potential offers on behalf of Hollysys, it added. Founded in 1993, Hollysys now has operations in China and eight other countries and regions throughout Asia.

Persons: Hollysys, Kannaki, Anil D'Silva, Susan Fenton Organizations: Hollysys Deutsche Bank, Automation Technologies, Recco Control Technology, Dazheng Group Investment Holdings, Nasdaq, Recco, Dazheng, Deutsche Bank, Dazheng Group, Reuters, U.S, New, Thomson Locations: Beijing, United States, China, Taiwan, Hong Kong, Hollysys, New York, Asia, Bengaluru, Yantoultra, Singapore

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