Southwest Airlines has come under scrutiny once again as the Federal Aviation Administration (FAA) investigates multiple incidents involving low-altitude flights. The most recent incident occurred on July 14 when a Southwest Boeing 737 MAX flew at a dangerously low altitude over Tampa Bay, Florida, prompting an air traffic controller to divert the flight to Fort
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Following the aftermath of the pandemic, Wall Street banks have reported a significant increase in deal flow and investment banking activity in their quarterly earnings reports. Major U.S. banks such as Citigroup, JPMorgan, and Wells Fargo have all witnessed a surge in investment banking revenue, signaling a healthier pipeline for deals in the market. Merger
General Motors has been hit with a significant penalty of $145.8 million following a government investigation that found excess emissions from approximately 5.9 million GM vehicles. This penalty comes as a result of vehicles from the 2012-2018 model years emitting more carbon dioxide than originally reported. The Environmental Protection Agency (EPA) found that these vehicles
The U.S. Supreme Court’s conservative majority has made significant strides in curbing federal regulatory authority during the most recent term. The court has focused on limiting the government’s power to regulate various aspects, ranging from stock trading to pollution. This marks a critical role in the ongoing effort by business interests and others to diminish
NASA and Boeing have decided to further extend the first crewed flight of Boeing’s Starliner capsule, named “Calypso,” at the International Space Station. The decision was made to conduct additional testing on the ground, without setting a new target date for the capsule’s return. This decision comes after the planned nine-day mission has already extended
GSK’s shares took a hit, dropping as much as 7% following a U.S. public health agency‘s change in recommendation for the use of respiratory syncytial virus (RSV) vaccines. This change directly affects the drugmaker’s new blockbuster medicine, Arexvy, which was introduced in the United States last summer. The recommendation by the U.S. Centers for Disease
Fitch Ratings agency has adjusted its forecast for a rate cut in China, pushing back its expectations to next year instead of this year. The decision comes as a result of high interest rates set by the U.S. Federal Reserve, which has influenced China’s monetary policy. Concerns over the exchange rate against the U.S. dollar
During a Ukraine peace summit in Lucerne, Switzerland, U.S. Vice President Kamala Harris pledged more than $1.5 billion in aid, with a significant portion dedicated to Ukraine’s energy sector. This announcement comes in response to Russia’s 27-month invasion of Ukraine, which has had devastating impacts on the country’s infrastructure and humanitarian situation. The aid package
The decision by the European Union to impose additional tariffs on Chinese electric vehicles has sparked backlash from China and various stakeholders involved in the dispute. Chinese state news agency Xinhua expressed hope that the EU would reconsider its tariffs and avoid hindering competition in the auto industry. The opposition from China and others emphasizes
Boeing’s Starliner was supposed to be a game-changer in the world of commercial space travel, designed to transport astronauts to and from the International Space Station. The company entered into a $4.2 billion contract with NASA back in 2014, as part of the agency‘s Commercial Crew Program. This program was NASA’s way of shifting some
On Wednesday, the Consumer Financial Protection Bureau (CFPB) announced new regulations that would require customers of the buy now, pay later (BNPL) industry to adhere to the same federal protections as credit card users. This “interpretive rule” under the Truth in Lending Act categorized BNPL lenders as equivalent to traditional credit card providers, meaning they
The U.S. stock index futures market showed relative stability on Wednesday, with minimal fluctuations in key indices such as the Dow Jones, S&P 500, and Nasdaq 100. Despite the calm trading environment, investors were eagerly awaiting the release of the monthly consumer price index (CPI) to gain insights into the Federal Reserve’s future monetary policy
Tesla, the renowned electric vehicle company, is currently facing a lawsuit from the nonprofit Environmental Democracy Project. The lawsuit alleges that Tesla has been consistently failing to comply with the Clean Air Act at its assembly plant in Fremont, California. According to the environmental group, Tesla has violated the law hundreds of times since January
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