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☆ Disney, Ambani’s Reliance create new India media giant with 750 million viewers
▼ + stars: | 2024-02-28 | by ( Diksha Madhok | Hanna Ziady | ) edition.cnn.com time to read: +3 min

New Delhi/London CNN —Disney is joining forces with Asia’s richest man to create a new media giant in India that says it will reach a domestic audience of more than 750 million people. Billionaire Mukesh Ambani’s Reliance Industries and Disney have combined their digital streaming platforms and 100 TV channels in the country in a joint venture worth about $8.5 billion, the companies said in a statement Wednesday. Disney (DIS) made a major push into the country in 2019, when it acquired most of 21st Century Fox, including its vast Star India network. “India is the world’s most populous market, and we are excited for the opportunities that this joint venture will provide to create long-term value for the company,” said Disney CEO Bob Iger. Disney salvaging its Indian dreamDisney has faced multiple challenges in India, which boasts a vibrant media and entertainment sector.

Persons: Mukesh, ”, Mukesh Ambani, Nita M, Ambani, Viacom18, Bob Iger, Mouse, Weeks, JioCinema, Iger, “, Mihir Shah Organizations: London CNN, Disney, Reliance Industries, Century Fox, Star, Reliance, Indian Premier League, Warner Bros ., HBO, CNN, Media Partners Locations: New Delhi, London, India, Star India, Viacom18

☆ Disney and Mukesh Ambani merge their media businesses in India
▼ + stars: | 2024-02-28 | by ( Diksha Madhok | Hanna Ziady | ) edition.cnn.com time to read: 1 min

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☆ Apple cancels work on an electric car, reports say
▼ + stars: | 2024-02-28 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Apple has abandoned decade-long efforts to build a self-driving electric car, according to multiple media reports, calling time on a project that some saw as potentially transformative for the auto industry. The news comes as electric vehicle (EV) sales have disappointed, prompting several major manufacturers to pull back on investments. Apple had been hiring automotive executives since at least 2014 and, in April 2017, it received a permit from the California Department of Motor Vehicles to test self-driving vehicles. Two years later, it acquired Drive.ai, a self-driving car startup. In 2020, Morgan Stanley analysts said an Apple car had the potential to be “a transformative event” for the automobile and mobility industry in the coming decades, much as the iPhone disrupted the mobile phone industry.

Persons: London CNN —, Morgan Stanley Organizations: London CNN, London CNN — Apple, Bloomberg, CNN, Apple, California Department of Motor Vehicles, BMW

☆ Everyday investors are feeling good about the market again
▼ + stars: | 2024-02-23 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Retail investors are optimistic about the stock market again despite a backdrop of geopolitical and economic uncertainty. CNN’s Fear & Greed Index, which measures seven barometers of market sentiment, closed at an “extreme greed” reading on Thursday. Unsurprisingly, investors are largely bullish on artificial intelligence-related stocks over the next three months, according to the Schwab survey. The job market has also stayed remarkably strong even as interest rates hover around a 23-year high, helping keep recession worries at bay. About 48% of traders believe the US will likely avoid a recession this year, up from 23% last quarter, according to the Schwab survey.

Persons: Charles Schwab, Schwab, ”, James Kostulias, stoking, Anna Bahney, —, Lawrence Yun, Read, Henri Nestlé, Wegovy, Hanna Ziady, Mark Schneider, ” Read Organizations: CNN Business, Bell, New York CNN, Retail, “, Dow Jones, Bureau of Labor Statistics, Federal, National Association of Realtors, NAR Locations: New York, United Kingdom, Japan, Washington, Swiss

☆ How Nestlé is changing in an older and Ozempic-obsessed world
▼ + stars: | 2024-02-22 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —In 1867, pharmacist Henri Nestlé combined dried cow’s milk with cereals and sugar to create a safe, easily digestible breast-milk substitute. Less infant formulaThe company also plans to use its expertise in nutrition to develop products that serve the growing numbers of older consumers. Nutrition for older consumers“Clearly, across the world in most major markets, the elderly and older population is growing. On current trends, that number is expected to increase to more than 4 billion by 2035, according to the World Obesity Federation. In September, Nestlé announced plans to increase sales of more nutritious products by 20-25 billion francs ($22.8-$28.5 billion) by 2030.

Persons: Henri Nestlé, Wegovy, Mark Schneider, ” Schneider, Schneider, Nestlé, we’re Organizations: London CNN —, United Nations, Schneider, Nutrition, Omega, World Obesity Locations: Swiss, Ireland, Wegovy

☆ HSBC 2023 results: $3 billion China writedown hits annual profit
▼ + stars: | 2024-02-21 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Of the total, $3 billion was related to BoCom, one of China’s biggest banks, while $2 billion was from selling its retail banking business in France. Separately, HSBC made $3.4 billion in provisions to cover expected credit losses and other charges related to its exposure to the commercial real estate sector in mainland China. The property market has since entered a prolonged slump, marked by an ongoing decline in real estate investment and sales of property. The charges reported by HSBC cast a shadow over its record annual profit, which came in at $30.3 billion, up 78% from 2022. In October, rival Standard Chartered reported a $186 million credit impairment charge related to commercial real estate in the country.

Persons: “, Matt Britzman, Hargreaves Lansdown, Mark Tucker, — Hanna Ziady Organizations: Hong Kong CNN — HSBC, China’s Bank of Communications, HSBC, HSBC isn’t, Chartered Locations: China, Hong Kong, Asia, France, BoCom, Mainland China

☆ Premarket stocks: Joe Biden’s top economic adviser isn’t worried about the latest inflation data
▼ + stars: | 2024-02-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —US markets broke a five-week winning streak last Friday after disappointing inflation data reignited economic and interest rate-related fears on Wall Street. Then last week, two key inflation indicators for January — the Consumer Price Index and Producer Price Index — rose above Wall Street expectations. Richmond Fed President Thomas Barkin said the new data showed that the Fed needs more confidence before cutting rates. I think in this case, the market isn’t necessarily telling you much about the economy’s fundamentals, the market is telling you what other market participants think. And I think that those economic fundamentals get you to the part that says, you know, it’s not not the economy.

Persons: Price, Thomas Barkin, Raphael Bostic, isn’t, Bell, Jared Bernstein, Joe Biden, I’m, they’re, It’s, it’s, Joe Weisenthal, Elisabeth Buchwald, Hanna Ziady, Liam Peach, ” Peach Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Richmond Fed, White House Council, Economic Advisers, CPI, Apple, Google, Nvidia, Microsoft, Capital, Discover Financial Services, Discover, Hamas, Gross, Israel’s, Bureau, Statistics, Capital Economics Locations: New York

☆ Israel’s economy slumps in the fourth quarter as war takes a toll
▼ + stars: | 2024-02-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Israel’s output contracted sharply in the final three months of 2023, falling for the first time in nearly two years, as the war with Hamas takes a heavy toll on the economy. The conflict is expected to cost Israel around 255 billion shekels ($70.3 billion) by the end of 2025, equivalent to around 13% of GDP, according to the Bank of Israel. And earlier this month, Moody’s delivered Israel’s first ever credit rating downgrade, citing elevated political risk and deteriorating public finances stemming from the war. “Under a scenario of outright conflict… the negative economic impact would spread to more sectors and be longer-lasting,” Moody’s said. In 2023 as a whole, Israel’s economy grew 2%, according to the statistics office.

Persons: Liam Peach, ” Peach, Moody’s, Israel’s, ”, ” Moody’s, Ido Soen Organizations: London CNN, Hamas, Gross, Israel’s, Bureau, Statistics, Israel, Capital Economics, Bank of Israel Locations: Gaza, Israel, Lebanese

☆ Britain falls into recession
▼ + stars: | 2024-02-15 | by ( Hanna Ziady | ) edition.cnn.com time to read: 1 min

☆ European travel giant Tui will leave the London Stock Exchange
▼ + stars: | 2024-02-13 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Tui, one of the world’s largest travel agencies, will leave the London Stock Exchange in June — the latest blow to the British capital’s longstanding reputation as the undisputed leader of Europe’s stock markets. Shareholders in the German company, which is dual-listed in London and Frankfurt, voted Tuesday to delist the firm from the London Stock Exchange. The company expects to cancel its shares on the London Stock Exchange in late June. A Tui cruise ship in Malaga port in June 2021. Jorge Guerrero/AFP/Getty ImagesHeadquartered in Hanover, Tui owns more than 400 hotels, 16 cruise ships, five airlines and 1,200 travel agencies.

Persons: London CNN —, Tui, Mathias Kiep, “, ”, Delphine Currie, Reed Smith, Jorge Guerrero, “ It’s, ” Kiep, Sebastian Ebel Organizations: London CNN, London Stock Exchange, Shareholders, ARM Holdings, …, Getty, Revenue, Canaries Locations: London, Frankfurt, United Kingdom, Germany, New York, “, Amsterdam, Paris, Malaga, AFP, Hanover, Tui, Israel, East, Egypt, Cape Verde, Mexico, Thailand, Dominican Republic, South Africa, Red Sea, Yemen

☆ Can Germany’s sputtering economy be revived in 2024?
▼ + stars: | 2024-02-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +11 min

Europe’s biggest economy shrank last year for the first time since the onset of the Covid-19 pandemic. And the outlook isn’t much brighter: the International Monetary Fund predicts that Germany will be the slowest-growing major economy in 2024, eking out an increase of just 0.5%. “Germany needs a fundamental economic transformation,” Marcel Fratzcher, president of the German Institute for Economic Research in Berlin, told CNN. Carsten Koall/Getty ImagesHomegrown troublesAlongside an external environment that has become more hostile to Germany’s outward-facing economy, the country’s internal political climate has worsened. Businesses such as these, which can find new markets and applications for their know-how, may hold the key to reviving Germany’s moribund economy.

Persons: What’s, ” Marcel Fratzcher, ”, Carsten Brzeski, Jens Schlueter, Constanze Stelzenmuller, Christian Lindner, Olaf Scholz, Robert Habeck, Carsten Koall, Michael Probst, Karl Haeusgen, ” Sebastian Shukla, Chris Stern Organizations: London CNN — Trains, Lufthansa, International Monetary Fund, European Union, European Commission, German Institute for Economic Research, CNN, ING, Brookings Institution, Volkswagen, Biden, Free Democratic Party, Social Democratic Party and, Green Party, Deutsche, LinkedIn, Investors, SAP, chipmaker Infineon, Intel, MAN Energy Solutions, Germany’s Machinery, Equipment Manufacturers Association Locations: Europe’s, Germany, Ukraine, Berlin, Europe, China, Zwickau, United States, Russia, “, Japan, masse, Frankfurt, ”, Hamburg, Jungheinrich, Augsburg, Munich, Esbjerg, Denmark

☆ ‘The greatest real estate crisis since the financial crisis.’ German bank sets aside more money for bad loans
▼ + stars: | 2024-02-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +1 min

London CNN —Deutsche Pfandbriefbank, or PBB, a German lender focused on commercial real estate, has set aside more money for bad debts as it prepares for what it says is the worst decline in commercial property values in 15 years. PBB increased its provisions for last year by as much as €215 million ($231.7 million), it said in a statement Wednesday, citing “persistent weakness of the real estate markets.”“Despite these expenses, PBB remains profitable thanks to its financial strength — even in the greatest real estate crisis since the financial crisis,” it added. The bank expects to report a profit of €90 million ($97 million) for 2023. PBB is at least the second German bank to warn of potential losses on commercial real estate loans. Germany’s biggest lender Deutsche Bank said last week that it had allocated €123 million ($133 million) during the fourth quarter of last year to absorb potential defaults on its US commercial real estate loans.

Organizations: London CNN — Deutsche, PBB, Deutsche Bank

☆ UBS to cut another $3 billion in costs as it absorbs Credit Suisse
▼ + stars: | 2024-02-06 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

The savings will provide “necessary capacity for reinvestment to reinforce the resilience of our infrastructure as we absorb Credit Suisse and to drive sustainable growth by investing in talent, products and services,” it added. Already, UBS (UBS) slashed headcount in the fourth quarter by more than 3,100 to under 113,000, taking the number of layoffs announced last year above 16,000. “2023 was a defining year in UBS’s history with the acquisition of Credit Suisse,” CEO Sergio Ermotti said in a statement. UBS agreed to buy Credit Suisse last March for the bargain price of $3 billion in a rescue orchestrated by Swiss authorities to avert a banking sector meltdown. Ermotti has previously said that 2024 will be the “pivotal” year in the takeover of Credit Suisse, with the migration of IT systems presenting huge risks as the two banks merge operations across more than 50 countries.

Persons: Sergio Ermotti, Ermotti Organizations: London CNN, UBS, Credit Suisse, Swiss Locations: Switzerland, Swiss

☆ Boeing is in the ‘last chance saloon,’ says Emirates head Tim Clark
▼ + stars: | 2024-02-05 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Tim Clark, the president of Emirates, has joined a chorus of airline executives in warning that Boeing is running out of time to restore its reputation following a series of safety and manufacturing blunders. I’m sure Dave Calhoun and Stan Deal are on that,” he added, referring to Boeing’s CEO and head of commercial airplanes respectively. Clark isn’t the first airline boss to criticize Boeing since part of the fuselage of a 737 Max 9 blew out mid-flight in early January. Clark said that for the first time Emirates would send its own engineers to observe the production process of the 777 at Boeing and its supplier Spirit AeroSystems. “The fact that we’re having to do that is testament to what has happened,” he told the Financial Times.

Persons: Tim Clark, Clark, “ They’ve, Dave Calhoun, Stan Deal, Clark isn’t, Scott Kirby, ”, “ Will, Will, they’ve, Calhoun’s, that’s, —, Michael O’Leary, Brian West Organizations: London CNN, Emirates, Boeing, Financial, ” Emirates, CNBC, Alaska Airlines, Financial Times, “ Will Boeing, Will Boeing, CNN, Ryanair — Europe’s Locations: Alaska, Dubai, Indonesia, Ethiopia, Calhoun

☆ These market signals suggest recession fears aren’t gone yet
▼ + stars: | 2024-02-02 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

The Dow Jones Transportation Average, which tracks 20 US transportation stocks from railroads to airlines to delivery, has fallen 1.6% so far this year, underperforming the broader Dow industrials’ 2.2% gain. As that optimism dims, some investors worry that the decline in transportation stocks suggests rough times ahead for the economy. The transportation index tends to fall when the economy deteriorates, as demand for travel and goods wanes. Turmoil in the airline industry also likely contributed to the recent slide in transportation stocks. But net profit fell 14% to €4.9 billion ($5.3 billion) as its tax bill rose.

Persons: CH, , ”, Mark Luschini, Janney Montgomery Scott, Russell, Howard Silverblatt, Dow, effusively, ”, Luschini, Jason Heller, “ I’m, Hanna Ziady, Sewing, Read, Tod Steward, He’s, It’s, Parija Kavilanz, Steward, Steward hasn’t, “, haven’t, that’s Organizations: CNN Business, Bell, New York CNN, Dow Jones Transportation, Dow, CH Robinson Worldwide, United Parcel Service, Avis Budget Group, Alaska Air Group, Federal Reserve, Alaska Airlines Boeing, Max, Apple, Microsoft, Meta, Dow Jones, Tesla, Coastal Wealth, Deutsche Bank, Super Bowl, CNN Locations: New York, Seattle

☆ Russia’s frozen assets are generating billions. The EU is getting ready to send them to Ukraine
▼ + stars: | 2024-02-01 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Russian assets frozen in European accounts are generating billions of dollars in interest payments that could be diverted to help repair Ukraine’s war-torn economy — and the European Union just took a step closer to doing that. After Russia’s full-scale invasion of Ukraine in February 2022, Western countries froze nearly half of Moscow’s foreign reserves — some €300 billion ($327 billion). Around €200 billion ($218 billion) sits in the European Union — mostly at Euroclear, a financial institution that keeps assets safe for banks, exchanges and investors. The EU has been at pains to contrast the illegality of Russia’s invasion with its own strict adherence to the rule of law. Lawyers are working on the text of the agreement before returning it to EU member states for final approval.

Persons: Euroclear, —, ” — James Frater Organizations: London CNN, European Union, EU, immobilised Central Bank of Russia, ”, Group, World Bank, European, European Central Bank, CNN Locations: Ukraine, ” Belgium, Euroclear, Russia, EU

☆ Deutsche Bank to cut 3,500 jobs
▼ + stars: | 2024-02-01 | by ( Hanna Ziady | ) edition.cnn.com time to read: 1 min

☆ Companies are hopeful about the economy again — even if they’re nervous
▼ + stars: | 2024-02-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Earnings season is in full swing, and that means investors get a chance to hear from multinational companies about the state of the global economy. Some of the United States’ biggest companies are in the hot seat to answer questions about the economy, and where it could be headed. Like the rest of the US, companies are watching whether the economy could still tip into a recession as interest rates hover around a 23-year high. Achieving a soft landing, or a situation in which inflation comes down without an economic downturn, looks likely, some companies said. According to the UK government’s own estimates, the checks — including physical inspections from April — will cost British businesses about £330 million ($419 million) annually and increase food inflation by about 0.2 percentage points over three years.

Persons: it’s, ”, Michael Hsu, Kimberly, Clark, Blackstone, Stephen Schwarzman, Christophe Le Caillec, Jim Vondruska, We’re, Robert Isom, Lorenzo Simonelli, Baker Hughes, Alan Schnitzer, Elisabeth Buchwald, “, Christopher Waller, Waller, Hanna Ziady, Read Organizations: CNN Business, Bell, New York CNN, United States ’, American, O'Hare Airport, Travelers Companies, ”, European Union Locations: New York, Chicago , Illinois, United Kingdom, Britain

☆ Brexit is finally coming for UK food imports, and prices could rise
▼ + stars: | 2024-01-31 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —New border controls on some of Britain’s food imports from the European Union came into force Wednesday for the first time since Brexit, increasing red tape for businesses and threatening to drive up prices for consumers. Industry groups have warned, however, that the new measures could ultimately hike prices of some staples and disrupt supplies when physical border checks are introduced at the end of April. Rising food prices have been a key driver of the nation’s cost-of-living crisis, and adding cost and friction to supply chains won’t help matters. A group of 30 trade organizations representing the UK food supply chain said last week that the new border measures would “impact the flow of critical food ingredients” from the EU to the UK. Europe is the UK’s leading foreign supplier of food, accounting for more than a quarter of food consumed in Britain by value.

Persons: Steve Barclay Organizations: London CNN, European Union, Industry, Meat Processors Association, EU Locations: United Kingdom, Britain, British, Europe

☆ Europe should brace for ‘harsh decisions’ if Trump is re-elected, says ECB’s Lagarde
▼ + stars: | 2024-01-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Europe should prepare for possible threats to its economy — including new US tariffs on its exports — if Donald Trump returns to the White House, according to European Central Bank President Christine Lagarde. “Let us prepare for potential tariffs, for potential harsh decisions that would be unexpected. The transatlantic relationship was strained during Trump’s first term, not least by a tit-for-tat trade spat between Washington and Brussels. That dispute saw the United States impose tariffs on EU steel and aluminum, to which the EU responded with tariffs on $3 billion worth of US goods, including whiskey, motorcycles and denim. The United States is the EU’s biggest source of foreign direct investment.

Persons: Donald Trump, Christine Lagarde, Mr Trump, ”, CNN’s Richard Quest, ” Lagarde, Trump, Trump’s, Lagarde, “ Organizations: London CNN, White, European Central Bank, United, EU, Republican, Ukraine, Russia, Trade, Trump, French, France, NATO Locations: Europe, United States, Washington, Brussels, Paris

☆ Ryanair CEO has ‘a lot of confidence’ in Boeing chief David Calhoun
▼ + stars: | 2024-01-29 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

“I have a lot of confidence both personally and professionally in David Calhoun and in Brian West,” Ryanair’s Michael O’Leary said Monday, referring to Boeing’s CEO and chief financial officer respectively. Calhoun — who was appointed to the top job in January 2020 as Boeing was already struggling with quality and safety issues — will unveil the planemaker’s full-year results Wednesday. Ryanair CEO Michael O'Leary, left, voiced strong support for Boeing CEO David Calhoun Monday. Partly because of this, Ryanair expects full-year profit for the current financial year to be at the lower end of a range of €1.85 billion-€1.95 billion ($2 billion-$2.1 billion) — trimming a November forecast of up to €2.05 billion ($2.2 billion). That would still be up from its previous record of €1.45 billion ($1.6 billion) earned in 2018, before the Covid-19 pandemic.

Persons: ”, David Calhoun, Brian West, Michael O’Leary, “, Calhoun —, Dennis Muilenberg, Calhoun, Michael O'Leary, Scott Kirby, Kirby, Max, ” O’Leary, we’ll, O’Leary, ” — Organizations: London CNN, Boeing, Ryanair, Lauda, United, Max, Alaska Airlines, US Federal Aviation Administration, CNBC, United Airlines, Reuters, Airbus Locations: US, Austrian, Alaska, American, Toulouse, United Kingdom, Kiwi.com, Europe

☆ How America’s economy keeps defying expectations when the rest of the world is struggling
▼ + stars: | 2024-01-26 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

Economists were convinced the last quarter of 2023 had to be the one where economic growth slowed significantly after the prior quarter’s gangbuster 4.9% annualized growth rate. Gross domestic product, the broadest measure of economic output, did slow last quarter to a 3.3% annualized rate. It’s remarkable given economists were expecting 1.5% annualized GDP growth last quarter. But what’s perhaps most remarkable about the US economic growth rate is how much it towers over similarly sized advanced economies. Covid stimulus money is helping Americans avoid cutting back on spending.

Persons: Larry David, that’s, rateaccording, Joseph Gagnon, David Paul Morris, Gagnon, That’s, Alicia Wallace, Hanna Ziady, he’s, I’ve, it’s Organizations: New, New York CNN, Gross, Peterson Institute for International Economics, Federal Reserve, Bloomberg Locations: New York, Singapore, Europe, Ukraine

☆ A six-day train strike is the last thing the German economy needs
▼ + stars: | 2024-01-24 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Germany is bracing for widespread disruption to rail services after train drivers embarked on a record six-day strike Wednesday, which will further strain crucial supply chains and deal a new blow to the sputtering economy. The state-owned rail operator said the action would cause “massive disruptions” to long-distance, regional and city commuter services until Monday. That was a major drag on the economy overall, with gross domestic product falling 0.3% in 2023, likely the weakest performance among Europe’s big countries. The strike represents “a major logistical challenge” for the chemical and pharmaceutical sector, the German Chemicals Industry Association told CNN. Germany’s supply chains are already struggling because of attacks on ships in the Red Sea.

Persons: Joerg Kraemer, “, ”, Anja, GDL, Claus Weselsky, Tesla, Michael Groemling, Chris Stern Organizations: London CNN —, Germany’s, Deutsche Bahn, Freight, Deutsche Bahn’s, German Chemicals Industry Association, CNN, German Association of, Automotive Industry, Tuesday Deutsche Bahn, Cologne Institute, Economic Research Locations: London CNN — Germany, Germany, Germany’s, “, Red, Berlin

☆ Alaska Airlines CEO says company found loose bolts on ‘many’ Boeing Max 9s
▼ + stars: | 2024-01-23 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Alaska Airlines CEO Ben Minicucci revealed the carrier found “some loose bolts on many” Boeing 737 Max 9s in an interview for “NBC Nightly News with Lester Holt” scheduled to air Tuesday. The US Federal Aviation Administration urged airlines on Sunday to inspect so-called door plugs on an earlier version of Boeing 737 airplanes. After recent inspections of the newer Max 9s, United Airlines and Alaska Airlines have found loose bolts. NBC asked Minicucci if Boeing has a problem with quality control extending beyond a single plane. We will follow the lead of the FAA and support our customers every step of the way.”The CEO of United Airlines, one of the biggest buyers of Boeing jets, also expressed frustration with the company.

Persons: Ben Minicucci, Lester Holt ”, ” Minicucci, Max, that’s what’s, ”, Minicucci, Stan Deal, “ I’m, Scott Kirby, they’ve, ” CNN’s Chris Isidore, Gregory Wallace, Hanna Ziady Organizations: New, New York CNN, Alaska Airlines, Boeing, Max, NBC, US Federal Aviation Administration, United Airlines, FAA, Airplanes, United, CNBC Locations: New York, Portland , Oregon, Ontario , California, Alaska

☆ Inflation isn’t beaten yet and risks of a new price shock are rising
▼ + stars: | 2024-01-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

The job is not yet done,” François Villeroy de Galhau, the governor of France’s central bank, said this week in Davos. Those “upside risks to inflation” include supply chain fragmentation, trade protectionism, climate shocks and armed conflicts, according to Gopinath. As soon as central banks start lowering interest rates “people feel better, they start spending more,” she said. Now the bank has to keep interest rates high “for as long as necessary” to put inflation firmly on the path back to 2%, she added. Meanwhile, container shipping costs along many of the world’s busiest trade routes have doubled — and in some cases tripled — since the middle of December, according to data from London-based shipping consultancy Drewry.

Persons: Sergio Ermotti, ”, “ It’s, Galhau, Gita Gopinath, Francois Villeroy de, Stefan Wermuth, Gopinath, Mary Callahan Erdoes, Christine Lagarde, “, Joe Biden, Vincent Clerc, CNN’s Richard Quest, Tobias Meyer, ” Robert North Organizations: London CNN, UBS, Economic, Federal Reserve, International Monetary Fund, Bloomberg, Getty, JPMorgan, Central Bank, IMF, Oxford University, Drewry, Oxford Economics, Maersk, DHL Locations: Iran, Africa, Davos, Switzerland, Red, United States, Europe, United Kingdom, France’s, Israel, Pakistan, British, Yemen, Suez, London, Asia

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