Tuesday , 13 November 2018

Business News

Pilots says Boeing didn't disclose jet's new control feature

Boeing didn’t tell airline pilots about features of a new flight-control system in its 737 MAX that reportedly is a focus of the investigation into last month’s deadly crash in Indonesia, according to pilots who fly the jet in the U.S. Pilots say they were not trained in new features of an anti-stall system in the aircraft that differ from …

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Business Highlights

___ Amazon goes bicoastal: will open HQs in New York, DC suburb NEW YORK (AP) — Amazon has set its sights on two of the nation’s largest and most powerful metro areas, announcing Tuesday it had chosen a buzzy New York neighborhood and a suburb of Washington for its new East Coast headquarters. The online shopping giant ended its 14-month-long …

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Energy companies lead US stocks lower after oil price plunge

The steepest drop in oil prices in more than three years put investors in a selling mood Tuesday, extending a losing streak for the S&P 500 index to a fourth day. Energy stocks led a late-afternoon sell-off on Wall Street after the price of U.S. crude oil plunged 7.1 percent to $55.69 a barrel, the lowest level since December 2017. …

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Amazon is coming to Queens. So are the helicopters

When Amazon builds its new Queens headquarters in Long Island City, the development will bring thousands of jobs, new construction, and, apparently, a helipad. Government officials in New York agreed to let the Seattle-based retailer include a helicopter landing pad at the new facility as part of the deal. But if the helipad can’t be built on the actual site, …

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US October budget deficit jumps to $100.5 billion

The federal government recorded a deficit of $100.5 billion in October, a big increase from a year ago that was primarily caused by quirks in the calendar. The Treasury Department said Tuesday that the deficit shot up 59 percent from the same month a year ago. Last year’s October deficit was smaller because the government paid $48 billion in benefits …

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Johnson Controls selling power solutions unit for $13.2B

Johnson Controls International PLC is selling its power solutions division to Brookfield Business Partners LP for $13.2 billion. The power solutions business, which makes and distributes advanced battery technologies for various vehicles, posted $8 billion in revenue in fiscal 2018. Johnson Controls CEO George Oliver said Tuesday the sale will let the company streamline its business, provide increased financial flexibility …

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Binny Bansal out as CEO of Flipkart Group

The co-founder of Flipkart, the massive online retail operation in India acquired by Walmart this year, has stepped down as CEO following an allegation of serious personal misconduct. Walmart, which purchased a $16 billion controlling stake in Flipkart Group in May, the largest single investment in its history, said Tuesday that an independent investigation done on behalf of both companies …

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