DIRS.INFO The most relevant business & tech news

☆ 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.

☆ 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.

☆ Maersk settles case with 'Midshipman X,' whose allegation of rape at sea roiled the shipping industry
▼ + stars: | 2022-11-18 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Maersk settled a lawsuit with ex-merchant navy cadet who said she was raped aboard one of its ships. Hope Hicks, formerly known as "Midshipman X," prompted a major reckoning with her allegation. Neither the shipping giant nor the cadet, Hope Hicks, disclosed further details of the settlement in a joint statement on Friday. In June, Hicks went public and filed her lawsuit against Maersk alongside another USMMA cadet who was identified only as "Midshipman Y." Maersk declined to provide Insider with an update on its case with Midshipman Y as of Friday.

☆ Maersk settles case with 'Midshipman X,' who alleged she was raped as a merchant navy cadet aboard one of its ships
▼ + stars: | 2022-11-18 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Maersk settled a lawsuit with ex-merchant navy cadet who said she was raped aboard one of its ships. Neither the shipping giant nor the cadet, Hope Hicks, disclosed further details of the settlement in a joint statement on Friday. Writing only as "Midshipman X," Hicks not only alleged her own rape but also that she knew of several other female cadets at USMMA who had been raped. In June, Hicks went public and filed her lawsuit against Maersk alongside another USMMA cadet who was identified only as "Midshipman Y." Maersk declined to provide Insider with an update on its case with Midshipman Y as of Friday.

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.

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.

Search resuls for: "Maria Cantwell"

11 mentions found