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Boeing takes $5bn hit over grounding of 737 Max
Boeing is taking a $4.9bn hit to cover costs related to the global grounding of its 737 Max aircraft.
The charge is set to wipe out profits when the world's biggest planemaker posts quarterly results next week.
In a statement, Boeing also said its "best estimate at this time" is that the aircraft will return to service in the last three months of this year.
A 737 Max crash in Indonesia in... |
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France passes tax on tech giants despite US threats
France has approved a digital services tax despite threats of retaliation by the US, which argues that it unfairly targets American tech giants.
The 3% tax will be levied on sales generated in France by multinational firms like Google and Facebook.
The French government has argued that such firms headquartered outside the country pay little or no tax.
The US administration has ordered an ... |
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US Fed opens door to interest rate cut after Trump criticism
The US central bank has opened the door to an interest rate cut, in a shift in guidance that follows criticism by President Donald Trump.
The Federal Reserve left rates on hold, but said uncertainties about the economic outlook could force its hand.
According to the vote, one Fed policymaker advocated an immediate cut, something the president has called for.
Officials have in recent weeks... |
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Is Target still down? After long waits and store closings, nationwide register outage ends
It was a tough afternoon to be at Target.
After a two-hour nationwide outage Saturday, Target’s registers are back online in the retailer's 1,849 U.S. stores, spokesman Joe Poulos confirmed to USA TODAY.
"The temporary outage earlier today was the result of an internal technology issue that lasted for approximately two hours," Poulos said in a statement. "Our technology team worked quickly t... |
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Uber posts $1bn loss weeks after stock market listing
Uber has posted a $1bn (£790m) loss as the ride-hailing firm delivered its first figures since a disappointing flotation earlier this month.
The quarterly loss came despite a 20% rise in revenues to $3.1bn and increase in monthly active users to 93 million.
The results were in line with many analysts' forecasts and may provide reassurance about the company's future profitability.
Uber sha... |
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US lifts steel and aluminium tariffs on Canada
The US has reached a deal with Canada to lift tariffs on steel and aluminium imports in a move that could lead to approval for a new North American trade deal.
In a joint statement, the US and Canada announced that a 25% tariff on steel imports, and of 10% on aluminium, will end in 48 hours.
It is widely expected the US and Mexico will make a similar announcement soon.
The US implemented ... |
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China vows 'necessary countermeasures' on Trump tariffs
Beijing has said it will respond in kind if President Trump imposes higher tariffs on Chinese goods on Friday.
The Chinese Commerce Ministry said that if the US tariff measures are implemented, it would take "necessary countermeasures".
The warning comes as US and Chinese officials prepare to meet over the next two days.
On Wednesday President Trump tweeted that Vice Premier Liu He "is no... |
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Can Georgian wine win over global drinkers?
The former Soviet state of Georgia is considered to be the birthplace of winemaking. But as it aims to boost exports around the world, will its unique wines be too challenging for most drinkers?
I am following two men into a dark cellar that feels more like a tomb than part of a winery.
Buried underground are a number of qvevri - large lemon-shaped clay pots full of grape juice slowly fermen... |
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Pound rises amid Brexit delay speculation
The pound has hit a 21-month high against the euro following increasing speculation of a delay to Brexit.
At one point, sterling was up by nearly one euro cent at €1.1643, its highest since May 2017.
Prime Minister Theresa May said in the Commons that if no deal is agreed and if a no-deal exit is rejected, then there could be a short extension to the date for Britain to leave the EU.
The ... |
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Finland basic income trial left people 'happier but jobless'
Giving jobless people in Finland a basic income for two years did not lead them to find work, researchers said.
From January 2017 until December 2018, 2,000 unemployed Finns got a monthly flat payment of €560 (£490; $685).
The aim was to see if a guaranteed safety net would help people find jobs, and support them if they had to take insecure gig economy work.
While employment levels did n... |
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