House panel asks Boeing CEO to testify October 30 on 737 MAX
The U.S. House Transportation and Infrastructure Committee formally asked Boeing CEO Dennis Muilenburg on Tuesday to testify on the now grounded 737 MAX that has been involved in two deadly crashes since October 2018 that killed 346 people.
GM stops paying for health insurance for striking union workers; talks continue
General Motors Co shifted health insurance costs for its striking workers to the United Auto Workers union as its members walked the picket line for the second day on Tuesday.
Toyota invests $391 million in its Texas truck assembly plant
Toyota Motor Corp said on Tuesday it was investing $391 million in its pickup truck assembly plant in San Antonio, Texas, as part of the Japanese automaker’s plan to invest $13 billion in its U.S. operations over five years through 2021.
Atlantia CEO resigns in Benetton-led shake up
The Benettons ushered in a change of guard at Italian infrastructure group Atlantia , replacing its powerful CEO with a management committee, as they move to deal with fallout from a deadly bridge collapse.
Oil plummets 6% as Saudi minister says supplies fully restored
Oil prices tumbled about 6% on Tuesday after Saudi Arabia’s energy minister said the country has managed to restore oil supplies to where they stood before weekend attacks on its facilities shut 5% of global oil output.
U.S. FAA to brief international regulators on status of Boeing 737 MAX
Federal Aviation Administration chief Steve Dickson has invited about 50 aviation safety regulators from around the world to an informal briefing in Montreal next week on the status of the grounded Boeing 737 MAX, according to an email seen by Reuters….
Wall Street rises as oil fears recede, market awaits Fed
Wall Street ended higher on Tuesday as the impact of weekend attacks on Saudi Arabia’s biggest oil refinery faded and investors awaited a widely expected Fed interest rate cut on Wednesday.
Oil falls as supply worries fade; stocks edge higher
Oil prices dropped sharply on Tuesday after Saudi Arabia’s energy minister said the kingdom has fully restored its oil supply following an attack over the weekend that shut 5% of global oil output.
Adobe fourth-quarter revenue forecast disappoints; shares drop
Adobe Inc on Tuesday forecast fourth-quarter revenue below Wall Street expectations as the software maker faces intense competition in a fast-growing cloud market, sending shares down 4.3% in after-market trading.
Saudi oil attacks came from southwest Iran, U.S. official says, raising tensions
The United States believes the attacks that crippled Saudi Arabian oil facilities last weekend originated in southwestern Iran, a U.S. official told Reuters, an assessment that further increases tension in the Middle East.
