Author: News Room

Boeing Boeing is reported to have found a fix for one of the two de-icing issues that have delayed type certification of its 737 MAX 7 and 737 MAX 10 planes. Boeing had initially applied then dropped its request to the FAA for an exemption for a design flaw which makes the MAX’s carbon composite engine inlet susceptible to overheating if the de-icing system remains on in non-icy conditions. This issue could lead to the inlet breaking up and debris impacting the fuselage in-flight. A new report by The Air Current suggests Boeing has selected a design to address the…

A new report from the New School’s Schwartz Center for Economic Policy Analysis looks at how student loan debt is weighing down workers gearing up for retirement, and how that debt has diminishing returns for any would-be-retirees.Using data from the Fed’s Survey of Consumer Finances, the analysis finds that over a million Americans ages 55 to 64 are holding student loans, or have spouses with loans. Gen Xers and boomers are also set to be saddled with that debt for years to come.And the burden of that debt falls disproportionately on the lowest earners. Looking at debtors over the age…

A Spirit Airlines flight reportedly descended into chaos after passengers were told to wear life jackets and prepare for an emergency water landing.Flight 270 from Montego Bay, Jamaica to Florida was forced to return to the airport shortly after takeoff due to a suspected mechanical issue on Sunday, according to the airline.Passenger Bettina Rogers told CNN the pilot had initially told passengers there was nothing to worry about when a beeping sound went off in the aircraft, before informing them the plane was returning to the airport.She said that as the plane turned back, passengers were told to “prepare for…

By Andrea Shalal and Eric Cox RACINE, Wisconsin (Reuters) – Andrea Dyess, 57, was already a Joe Biden fan, but after meeting him in her neighborhood of Racine, Wisconsin, in May, she has been talking to anyone who will listen about giving him four more years in the White House. Dyess was on a street corner with her two young grandchildren trying to catch a glimpse of Biden’s motorcade, when a campaign worker invited her to join the president at a nearby community center. Biden listened attentively as she told him about surviving cancer and how the Affordable Care Act,…

Despite recent economic turbulence, Strategas analysts maintain a cautious outlook for the U.S. economy, predicting a 30% chance of a recession in 2024. In their latest Economic Balance Sheet Update, they highlight the impact of “higher-for-longer (H4L) interest rates,” which have notably weakened housing sales data. Strategas evaluates 14 broad U.S. economic sectors monthly, categorizing them as Assets or Liabilities. This month, their net balance sheet calculation declined to +1, signaling growing economic concerns. However, several key supports in the U.S. economy remain robust. Nonfarm payrolls, consumer spending, and business investment in capital and labor continue to drive consumer spending…

By Tom Hals WILMINGTON, Delaware (Reuters) – Tesla (NASDAQ:) shareholders will vote on June 13 to ratify Elon Musk’s $56 billion pay package, which a Delaware judge voided in January because she found he improperly controlled the process. They will also be asked to approve moving the company’s legal home to Texas from Delaware. Below is a look at the potential legal fight standing in the way of Musk’s pay day. WHAT IMPACT WILL THE SHAREHOLDER VOTE HAVE? If shareholders reject the move to Texas and Musk’s pay, it will vindicate the court’s ruling that described Musk’s pay as “unfathomable,”…

By Leah Douglas and Jarrett Renshaw (Reuters) – Little to no ethanol will qualify for U.S. sustainable aviation fuel (SAF) subsidies under a new pilot program by President Joe Biden’s administration, which toughened climate requirements at the last minute, according to a Reuters review of government data and people familiar with the matter. The issue could hurt the biofuel industry, which sees SAF as ethanol’s best chance at growth since electric cars have cut into its market as a gasoline additive. It could also hinder Biden’s goal of producing 30 billion gallons of SAF by 2030. He once promised 95%…

Senate Majority Leader Chuck Schumer and nearly two dozen Democrats pressed the Justice Department on Thursday to launch an industry-wide investigation into Big Oil for alleged collusion and price fixing. In a letter to Attorney General Merrick Garland, Schumer and his colleagues expressed “serious concern” about “alarming” allegations from federal regulators that a Texas oil tycoon tried to conspire with OPEC to inflate oil and gasoline prices. “The federal government must use every tool to prevent and prosecute collusion and price fixing that may have increased gasoline, diesel fuel, heating oil and jet fuel costs in a way that has materially harmed…

The Pound Sterling exhibits choppiness around 1.2700 as the US core PCE Inflation comes under the spotlight. UK’s high service inflation remains a barrier to the sustainable return of price pressures toward the 2% target. Traders pare Fed rate-cut bets for September due to the stubborn inflation outlook. The Pound Sterling (GBP) trades in a tight range near the round-level figure of 1.2700 against the US Dollar (USD) in Thursday’s European session. The GBP/USD pair is broadly under pressure due to uncertain market sentiment ahead of the United States (US) core Personal Consumption Expenditures Price Index (PCE) data for April,…

Key Points: KuCoin Convert delists Polyhedra’s ZK token. Polyhedra and zkSync conflict over the same ticker code. Polyhedra brands zkSync a “robber” for using their ticker code. KuCoin delists Polyhedra’s ZK token amid a scandal over the token ticker ‘ZK’ being claimed by both Polyhedra and zkSync. Bybit has adjusted the ticker symbol. KuCoin Delists Polyhedra’s Token Amid Battle For ‘ZK’ Token Symbol In a recent announcement, KuCoin Convert will be delisting Polyhedra’s ZK token at 8:00 on May 31, 2024 (UTC). After the delisting, users will no longer be able to trade this token on KuCoin Convert. However, on…