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Boeing shares rise on report 737 Max fix could be sooner than expected

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Shares of Boeing ticked higher Friday after a report that the plane manufacturer plans to roll out a software upgrade for its 737 Max aircraft in the coming weeks.

The report from Agence France-Presse, citing sources, comes after the U.S. grounded all Boeing 737 Max jets this week. The software upgrade is expected to roll out in 10 days, according to AFP.

The Federal Aviation Administration followed the lead of dozens of other countries, citing links between two fatal crashes as grounds to cancel those flights. Boeing’s stock has tanked more than 10 percent this week in the aftermath.

Shares rose as much as 1.7 percent Friday afternoon following the report. Boeing’s gains were limited as the company told CNBC the overall timeline has not changed.

A weeks-long turnaround would come much sooner than some on Wall Street had estimated. Bank of America predicted this week that it would take the aircraft manufacturer three to six months to “certify the fix.”

Ethiopian Airlines Flight 302 crashed on Sunday, less than five months after the crash of Lion Air Boeing 737 Max 8 flight from Jakarta, Indonesia, killing all 189 people on board. Both planes were new, delivered from Boeing just months before those flights.

Of the more than 350 Boeing 737 Max jets in global fleets, 74 are flown by U.S. airlines United Airlines, American Airlines and Southwest Airlines, according to the FAA.

— CNBC’s
Leslie Josephs
and Meghan Reeder contributed reporting.

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Trump says he does not see white nationalism rising after New Zealand mosque shooting

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President Donald Trump speaks to members of the media on the South Lawn of the White House in Washington, D.C.

Olivier Douliery | Bloomberg | Getty Images

President Donald Trump speaks to members of the media on the South Lawn of the White House in Washington, D.C.

President Donald Trump said on Friday he does not see a rise in white nationalism but it may be an issue in New Zealand, where a gunman who is believed to espouse those views killed 49 people at two mosques.

Asked by a reporter if he sees an increase in white nationalism, Trump said: “I don’t really. I think its a small group of people.”

Trump also said he had not seen a manifesto in which the suspected gunman denounced immigrants and praised Trump as “a symbol of renewed white identity and common purpose.”

Trump’s comment come after news that at least 49 people were killed and more than 40 people are being treated for injuries after at least one shooter opened fire at two mosques in Christchurch, New Zealand on Friday, according to New Zealand police.

A 28-year-old man was charged with murder and is set to appear in Christchurch District Court, while two others remain in police custody.

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Trump vetoes bill that would block border wall national emergency

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President Donald Trump speaks about border security in the Oval Office of the White House, Friday, March 15, 2019, in Washington. Trump issued the first veto of his presidency, overruling Congress to protect his emergency declaration for border wall funding.

Evan Vucci | AP

President Donald Trump speaks about border security in the Oval Office of the White House, Friday, March 15, 2019, in Washington. Trump issued the first veto of his presidency, overruling Congress to protect his emergency declaration for border wall funding.

President Donald Trump rejected a bill Friday that would end the national emergency he declared at the southern U.S. border.

The president’s veto, signed in front of reporters in the Oval Office, is his first since he entered the White House. While the Democratic-held House will likely try to override his opposition, neither chamber of Congress appears to have enough support to reach the two-thirds majority needed.

The GOP-controlled Senate dealt a blow to Trump on Thursday, when 12 Republicans joined with Democrats in voting to terminate his emergency declaration. He publicly pushed Senate Republicans to vote against the House-passed resolution even as he shot down one plan that could have limited the number of GOP senators voting to block his flex of executive power.

In a tweet before he vetoed the bill, Trump thanked the GOP senators who he said “bravely voted for Strong Border Security and the WALL.”

“Watch, when you get back to your State, they will LOVE you more than ever before!” he wrote.

Though Trump has pushed back congressional efforts to check his declaration for now, his administration still has to fight court challenges. More than a dozen states and several outside groups have filed lawsuits challenging his executive action.

Democrats plan to vote to override Trump’s veto on March 26, NBC News reported, citing two sources. Rep. Joaquin Castro, a Texas Democrat who introduced the measure to block the declaration in the House, said Thursday that he will try to gather support for another vote even though it will be “very tough” to reach a two-thirds majority.

Trump declared a national emergency at the U.S.-Mexico border last month to divert already approved Defense Department money to build his proposed border wall. He demanded $5.7 billion for border barriers as part of a spending plan to fund the government through September, but Congress denied him. Lawmakers passed only $1.4 billion for structures on the border.

Democrats said Trump created a sham emergency in order to circumvent Congress’ appropriations power. Republicans also worried the president setting a dangerous precedent that Democrats could use to declare emergencies related to other topics such as climate change and gun violence.

Trump hopes to put $8 billion total toward the border wall, including the money allocated by Congress. Using emergency powers, he would divert $3.6 billion from military construction funds. With other executive actions, he hopes to pull the remainder from other Pentagon and Treasury Department funds.

The wall will not go away as a political issue. Trump set up another fight with Democrats when he asked for an additional $8.6 billion for border barriers in his recently released fiscal 2020 budget.

Democrats could also vote on whether to block the national emergency declaration every six months.

This story is developing. Please check back for updates.

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American Airlines suspends flights to Venezuela amid unrest

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American Airlines on Friday suspended flights to and from Venezuela amid unrest, further isolating the South American country.

American’s pilot union earlier on Friday said it told its members to refuse any trips to the country after the State Department told U.S. citizens to leave the country. It also pulled its diplomats from Venezuela.

Most U.S. airlines already halted service to Venezuela amid political and economic turmoil there. American was the last major U.S. airline to fly to Venezuela and sells flights from Miami to Caracas and to Maracaibo. The move threatens to further isolate the South American nation that is mired in a humanitarian crisis.

“The safety and security of our team members and customers is always number one and American will not operate to countries we don’t consider safe,” American said in a statement.

Venezuelan President Nicolas Maduro cut ties with the U.S. in January after Washington recognized opposition leader Juan Guaido as the country’s president. More than 50 other countries have recognized Guaido as the country’s president.

“Do not travel to Venezuela due to crime, civil unrest, poor health infrastructure, and arbitrary arrest and detention of U.S. citizens,” the State Department said in its warning on Tuesday.

“Until further notice, if you are scheduled, assigned, or reassigned a pairing into Venezuela, refuse the assignment” and call chief pilots, the Allied Pilots Association, which represents about 15,000 American Airlines pilots, said in a note to its members late Thursday.

American Airlines did not immediately respond to request for comment. The airline’s two flights from Miami to Caracas were canceled on Friday, the airline’s website showed, but flights scheduled for Saturday appeared as scheduled.

The Association of Professional Flight Attendants that represents American’s 25,000 flight attendants said it supported the pilot union’s decision “100%.”

“Of course without the pilots, the flight’s not operating,” said Lori Bassani, APFA’s president.

United Airlines and Delta Air Lines ceased service to Venezuela in 2017.

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