Powell says inflation is still ‘soft’ and the Fed is committed to current policy

Inflation and employment remain well below the Federal Reserve’s goals, meaning easy monetary policy is likely to stay in place, central bank Chairman Jerome Powell said Tuesday. Despite a sharp rise this year in bond yields that has accompanied heightened concern over inflation, Powell said price pressures remain mostly muted and the economic outlook is still “highly uncertain.” […]

After Explosion, FAA Orders Engine Checks On Boeing’s Pratt & Whitney Powered Planes

The Federal Aviation Administration has ordered emergency inspections of Boeing 777 aircraft with engines like the one that exploded on a United Airlines jet last weekend. The Emergency Airworthiness Directive prohibits U.S. airlines who operate planes equipped with the same Pratt & Whitney PW 4000 engines from further flights until the checks completed. The directive […]

SolarWinds Hackers Also Went After NASA and the FAA

Apparently not content with having penetrated the networks of such piddling federal agencies as the U.S. State Department, the Department of Homeland Security, and that agency that maintains our nuclear stockpile, the hackers of the “SolarWinds” affair also went after NASA and the Federal Aviation Administration, according to a new report from the Washington Post. The report comes shortly after a […]

Bill Gates On Investing In Bitcoin: ‘If You Have Less Money Than Elon, You Should Probably Watch Out’

Microsoft Corp. (NASDAQ: MSFT) co-founder Bill Gates is not bullish on Bitcoin (BTC) and is cautioning others to reconsider such investments — unless they have more money than Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk. What Happened: Gates told Bloomberg on Monday that he isn’t worried about Musk’s Bitcoin randomly going up or down. “Elon […]

Petrobras shares slump as Brazil’s Bolsonaro doubles down on intervention

Petrobras shares plunged 22% on Monday, wiping out 71 billion reais ($13 billion) in market value, as Brazilian President Jair Bolsonaro again slammed its pricing policies after he replaced the state-controlled oil company’s market-friendly CEO with a retired army general. The selloff, following a series of analyst downgrades, deepened after Bolsonaro said the company’s fuel […]

Boeing recommends carriers halt some 777 flights pending FAA inspection guidance

Boeing Co said on Sunday it was recommending air carriers halt flights of 777 airplanes like the United Airlines plane that suffered a right engine failure until the Federal Aviation Administration (FAA) issued inspection protocols. Boeing said it recommends “suspending operations of the 69 in-service and 59 in-storage 777s powered by Pratt & Whitney 4000-112 […]