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☆ U.S. senator presses FAA for details on Boeing 737 MAX alerting system
▼ + stars: | 2022-12-01 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Nov 30 (Reuters) - A senior U.S. lawmaker wants details from the Federal Aviation Administration (FAA) about the safety of the cockpit alerting system for the Boeing 737 MAX -- an issue at the heart of a dispute over two new variants of the best selling airplane. Senate Commerce Committee Chair Maria Cantwell on Tuesday circulated a draft proposal that would extend the 737 MAX 7 and MAX 10 certification deadline and require retrofitting existing planes with safety enhancements, Reuters reported. After Dec. 27, all planes must have modern cockpit alerting systems to be certified by the FAA, which could put the two new MAX planes future in jeopardy. Cantwell's letter asked "to the extent FAA has identified safety deficiencies with 737 MAX’s flight crew alerting system, please describe FAA’s plans to immediately address these safety concerns." Boeing declined to comment but has said it is safer to have one common cockpit alerting system for all versions of the 737.

☆ Wall St set to open flat as focus turns to Powell speech
▼ + stars: | 2022-11-30 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The Dow Jones Industrial Average (.DJI) has gained nearly 18% in the last two months, while the Nasdaq index (.IXIC) has added about 4%. Traders expect the Fed to increase rates by 50 basis points in December, with the rates peaking in June 2023. The data is expected to show 200,000 job additions in November, compared with 261,000 jobs in the prior month. So I don't really make much out of that, I'd like to see what Powell has to say," Saluzzi added. Biogen Inc (BIIB.O) jumped 4.3% after its experimental Alzheimer's drug slowed cognitive decline in a closely watched trial.

☆ Key U.S. senator backs Boeing push to lift 737 MAX extension deadline - document
▼ + stars: | 2022-11-30 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Nov 29 (Reuters) - A key U.S. lawmaker is proposing an extension of a certification deadline for two new versions of Boeing's (BA.N) 737 MAX and requiring retrofitting existing planes, according to a document reviewed by Reuters. Boeing is seeking an extension from Congress of a December deadline imposing a new safety standard for modern cockpit alerts for the 737 MAX 7 and 737 MAX 10 variants after two fatal 737 MAX crashes killed 346 people in Indonesia and Ethiopia and led to the plane's 20-month grounding. Boeing would be required to bear the costs of the mandatory safety enhancements retrofit for MAX planes currently in service, according to the proposal. Faulty data from a single sensor that erroneously triggered a software function called MCAS to repeatedly activate played critical roles in the fatal 737 MAX crashes. Earlier this month, acting FAA Administrator Billy Nolen said he does not expect the agency will certify the 737 MAX 7 before the December deadline.

☆ U.S. Senate will not take up FAA nomination before 2023 -lawmaker
▼ + stars: | 2022-11-30 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 29 (Reuters) - The U.S Senate does not plan to take up President Joe Biden's nominee to head the Federal Aviation Administration (FAA) until next year, a key lawmaker said. Senate Commerce Committee Chair Maria Cantwell, who heads the panel that overseas the FAA, told Reuters late on Tuesday she planned to hold a hearing for Denver International Airport Chief Executive Phil Washington to head the FAA after the new Congress convenes in January. Cantwell said she plans to meet next week with Washington, who was nominated in July but not yet had a hearing. The Democratic lawmaker said she believes the White House will stand by Washington and renominate him next year. Washington, a former CEO of the Los Angeles public transport system, previously told Bloomberg News "all the allegations are false."

☆ U.S. lawmakers holding talks on Boeing 737 MAX certification deadline
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Nov 29 (Reuters) - U.S. lawmakers are holding intensive discussions about whether to extend a key certification deadline for two new versions of Boeing's (BA.N) best selling 737 MAX, lawmakers and aides said. The largest U.S. planemaker is seeking an extension from Congress of a December deadline imposing a new safety standard for modern cockpit alerts for the 737 MAX 7 and 737 MAX 10. "We do want to push for safety enhancements and we'll see what happens - some people just want a straight extension," Senate Commerce Committee Chair Maria Cantwell told Reuters late on Tuesday, saying there is no agreement yet. Reporting by David Shepardson Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Futures rise as focus turns to Powell speech
▼ + stars: | 2022-11-30 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

"Fed Chair Powell is speaking, but past comments have done little other than chant 'hike, hike, hike'," said Paul Donovan, chief economist, UBS Global Wealth Management. "Powell has yet to explain the mechanism by which hiking rates is supposed to reduce inflation (which matters to analyzing when rates might peak) ... today's speech should signal a slowing of rate hikes." Hopes that the Fed will now hike rates in smaller increments and recent data pointing to a mild cooling in prices have positioned the benchmark S&P 500 index (.SPX) for its second straight month of gains. Traders see the Fed increasing rates by 50 basis points in December, with the rates peaking in June 2023. Reporting by Shreyashi Sanyal & Devik Jain; Additional reporting by Shubham Batra; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

[1/2] Taylor Swift's "Red (Taylor's Version)" receives the Favorite Pop Album award during 2022 American Music Awards, at the Microsoft Theater in Los Angeles, California, U.S., November 20, 2022. REUTERS/Mario Anzuoni/File PhotoWASHINGTON, Nov 29 (Reuters) - U.S. lawmakers on Tuesday pressed the Federal Trade Commission to enforce a 2016 law against ticket scalpers using bots after Ticketmaster blamed the software for troubles selling tickets to pop superstar Taylor Swift's upcoming tour. Ticketmaster (LYV.N) canceled planned ticket sales to the general public for Swift's 2023 U.S. concert tour, her first in five years, earlier this month as 3.5 billion ticket requests from fans, bots and scalpers overwhelmed the website. A spokesman for the FTC confirmed that it had received the letter, but had no comment. Reporting by Diane Bartz; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Kids Online Safety Act may harm minors, civil society groups warn lawmakers
▼ + stars: | 2022-11-28 | by ( Lauren Feiner | ) www.cnbc.com time to read: +5 min

Ranking Member Sen. Marsha Blackburn (R-TN) speaks during a Senate Subcommittee on Consumer Protection, Product Safety, and Data Security hearing on Protecting Kids Online: Snapchat, TikTok, and YouTube on October 26, 2021 in Washington, DC. Dozens of civil society groups urged lawmakers in a letter on Monday against passing a bill that aims to protect children from online harm, warning the bill itself could actually inflict further danger on kids and teens. The American Civil Liberties Union, Electronic Frontier Foundation, Fight for the Future and Wikimedia Foundation were among the groups that wrote to Senate Majority Leader Chuck Schumer, D-N.Y., Senate Commerce Committee Chair Maria Cantwell, D-Wash., and Ranking Member Roger Wicker, R-Miss., opposing the Kids Online Safety Act. Sites would have to let their young users know when parental tools are in effect. The KOSA opponents warned that prescriptive parental controls could be harmful to kids in abusive situations.

☆ 737 MAX crash victim families press U.S. on Boeing settlement
▼ + stars: | 2022-11-19 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

[1/2] Family members hold photographs of Boeing 737 MAX crash victims lost in two deadly 737 MAX crashes that killed 346 people as they wait for Boeing CEO Dennis Muilenburg to testify before a Senate Commerce, Science and Transportation Committee hearing on “aviation safety” and the grounded 737 MAX on Capitol Hill in Washington, U.S., October 29, 2019. REUTERS/Sarah Silbiger/File PhotoWASHINGTON, Nov 18 (Reuters) - Relatives of passengers killed in two Boeing 737 MAX crashes pressed U.S. Justice Department lawyers on Friday to unwind a 2021 deal that allowed the U.S. planemaker to escape criminal prosecution. U.S. District Judge Reed O'Connor in Texas ruled last month that people killed in two Boeing 737 MAX crashes are legally considered "crime victims" and said he would decide what remedy should be imposed. Both Boeing and the Justice Department oppose reopening the deferred prosecution agreement that included $500 million in victim compensation, a $243.6 million fine and $1.7 billion in compensation to airlines. The Justice Department said on Friday after the meeting it takes its obligations to victims seriously.

☆ Rail strike potential grows, threatening to worsen supply chain backlogs, inflation
▼ + stars: | 2022-11-17 | by ( Eli M. Rosenberg | Eli Rosenberg Is An Investigative Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +12 min

That’s how much paid sick leave some freight rail workers are demanding from the rail companies before they sign new contracts. Rail workers say years of grievances about workforce cuts, coupled with new scheduling requirements, have pushed them to the brink of exhaustion. But if any of the unions decides to strike, all rail unions will honor the work stoppage. Kennedy said the union had never agreed to higher wages at the expense of a benefit like paid sick leave. “A rail strike, even one of short duration, would be catastrophic,” said John Drake, a vice president at the Chamber of Commerce.

☆ Republican Sen. John Thune faces off against Democrat Brian Bengs in South Dakota's US Senate election
▼ + stars: | 2022-11-08 | by ( Hanna Kang | ) www.businessinsider.com time to read: +3 min

Sen. John Thune is running against Democrat Brian Bengs to represent South Dakota in the US Senate. Thune, who has more than $17 million in his coffers, will likely cruise to victory in the heavily conservative state. Before being elected to the Senate, Thune served three terms representing South Dakota's at-large congressional district in the US House. South Dakota is a ruby-red state; it only voted Democratic four times, most recently in 1964 when Lyndon B. Johnson handily defeated Barry Goldwater. The money raceAccording to OpenSecrets, Thune has raised $12.5 million, spent $6 million, and has $17.2 million cash on hand, as of October 19.

WASHINGTON — Which party controls Congress next year could have big implications for Twitter — and its new “Chief Twit,” Elon Musk. A Jordan spokesman had no comment about Musk and Twitter, but Republicans expect the company will be more cooperative with any future GOP investigations with Musk at the helm. But upon taking control of Twitter, Musk said he would first form a “content moderation council,” and Yoel Roth, head of Safety and Integrity at Twitter, insisted that the company’s policies on hate speech have not changed. “If Elon Musk has said now that he’s going to start a content moderation board, that was one good sign, but I continue to be concerned about that,” Klobuchar said. Other Democrats are raising national security concerns about how Musk financed the $44 billion Twitter deal.

☆ U.S. alleges Seagate broke export rules to sell Huawei hard drives -source
▼ + stars: | 2022-10-26 | by ( Karen Freifeld | ) www.reuters.com time to read: +4 min

Seagate, a Dublin-based company that also operates in California, said it was cooperating with the Commerce Department and attempting to resolve the matter. The company paused its shipments to Huawei a year ago, the person said. The company hopes to make its case in an upcoming meeting with the Commerce Department, the source said. At issue is a U.S. regulation that governs the way certain foreign-made items destined for Huawei become subject to U.S. export regulations. The hard disk drives are made in China and Thailand and also do not have enough U.S. content to make them subject to U.S. export rules, the person said.

Semiconductor stocks have been beaten down this year, but HSBC still sees some upside for Club holdings Qualcomm (QCOM) and Advanced Micro Devices (AMD). Shares of Qualcomm were down 0.23%, at $115.47 a share, while shares of AMD were down more than 1%, at $58.18 a share, in midday trading. The analysts argued Qualcomm is well-positioned for growth because of its diversified revenue streams, aided by its automotive and internet of things pipelines — a view the Club shares. At the Club, we've been responding to chip industry pressures by recently reducing our exposure, selling shares of Qualcomm , AMD and Marvell Technology (MRVL). And we agree with HSBC that semiconductor firms like Qualcomm and AMD have competent management teams and leading technology portfolios.

☆ U.S. Senate defense bill does not extend Boeing 737 MAX certification -sources
▼ + stars: | 2022-10-11 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The first Boeing 737 MAX 7 is unveiled in Renton, Washington, U.S. February 5, 2018. REUTERS/Jason Redmond/File PhotoWASHINGTON, Oct 11 (Reuters) - The latest version of the U.S. Senate's defense bill does not contain an amendment to extend a December deadline for Boeing Co (BA.N) to win regulatory approval for the 737 MAX 7 and MAX 10 jetliners, according to sources and documents seen by Reuters. Unless it gains an extension from Congress, Boeing must meet new modern cockpit-alerting requirements that could significantly delay the planes' entry into service. Wicker had sought to attach the measure to the version of the defense bill that was filed on Tuesday. There are other opportunities to make changes to the defense bill and an extension could be attached to other measures Congress will consider before year end.

☆ UK may fine TikTok $29 mln for failing to protect children's privacy
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe TikTok logo is pictured outside the company's U.S. head office in Culver City, California, U.S., September 15, 2020. REUTERS/Mike Blake/File PhotoSept 26 (Reuters) - Britain could fine TikTok 27 million pounds ($28.91 million) following an investigation that found the short-form video app may have breached UK's data protection law by failing to safeguard privacy of children using the platform. The Information Commissioner's Office (ICO) has issued TikTok and TikTok Information Technologies UK Ltd with a "notice of intent", the regulator said in a statement. ICO's provisional view suggests that TikTok breached UK data protection law between May 2018 and July 2020. read more($1 = 0.9339 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by Radhika Anilkumar in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ A Democratic senator mistook the slang word 'finsta' for one of Facebook's products in a hearing with the company
▼ + stars: | 2021-09-30 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +4 min

The Senate Commerce Committee held a Thursday hearing about Facebook, Instagram, and mental health. "Finstas," secret accounts some teens make, are not an official Facebook product. Sen. Blumental asked Davis about "finsta towards the end of the hearing (at the 2:44:50 mark in the publicly available webcast). "Finsta" (fake Instagram) is a slang term used to refer to smaller, side accounts that people — frequently teenagers — make on Instagram. "Finsta" is not a Facebook product, nor a clearly demarcated feature on Instagram — it's simply a secondary account that people create, which has become a cultural trend.

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