Global finance leaders hopeful for modest rebound in 2020

Posted on: October 19th, 2019 by ABC News No Comments

Global finance leaders remain hopeful for modest rebound in 2020 if trade tensions don’t worse

Global finance leaders hopeful for modest rebound in 2020

Posted on: October 19th, 2019 by ABC News No Comments

Global finance leaders remain hopeful for modest rebound in 2020 if trade tensions don’t worse

Opioid negotiations fail to produce deal just before trial

Posted on: October 19th, 2019 by ABC News No Comments

Negotiations aimed at a major settlement of opioid lawsuits have ended for the day without a deal

Opioid negotiations fail to produce deal just before trial

Posted on: October 19th, 2019 by ABC News No Comments

Negotiations aimed at a major settlement of opioid lawsuits have ended for the day without a deal

Boeing pilots messaged about 737 Max issues years before 2 crashes killed 346

Posted on: October 18th, 2019 by ABC News No Comments

Robert Michaud/iStock(NEW YORK) — Internal messages between two Boeing pilots appear to show the company knew about problems with an automated system in the 737 Max aircraft in 2016, two years before two separate crashes involving the Max killed 346 people.

In a document obtained by ABC News, Boeing’s chief technical pilot, Mark Forkner, told a colleague that the plane’s MCAS system was “running rampant in the sim on me.” Forkner said in the messages that in the simulation the MCAS was “trimming itself craxy,” likely meaning “crazy,” and that it was “egregious.” News of the internal messages was reported earlier by The New York Times.

The maneuvering characteristics augmentation system, or MCAS, is an automated flight control system designed to change the angle of an airplane to prevent a stall. Faulty MCAS systems are believed to have caused the Lion Air crash in Indonesia, which killed 189 last October, and the Ethiopian Air disaster in March that killed 157.

After those incidents, the aircraft was grounded pending additional safety certifications.

The FAA obtained the messages last night in a document from Boeing, and FAA Administrator Steve Dickson sent a letter to Boeing CEO Dennis Muilenburg requesting an immediate explanation. Dickson also requested an explanation about the delay in disclosing the document to the FAA because it was his understanding that “Boeing discovered the document in its files months ago.”

In a statement, the FAA said that the agency finds the document’s contents disturbing and that regulators are “disappointed that Boeing did not bring this document to our attention immediately upon its discovery.”

Peter DeFazio, D-Ore., chair of the House Transportation committee, said in a statement that the conversation between Boeing employees is “shocking, but disturbingly consistent with what we’ve seen so far in our ongoing investigation of the 737 Max, especially with regard to production pressures and a lack of candor with regulators and customers.”

Muilenburg is scheduled to appear before Congress later this month.

“Over the past several months, Boeing has been voluntarily cooperating with the House Transportation & Infrastructure Committee’s investigation into the 737 Max,” the company said in a statement on Friday. “As part of that cooperation, today we brought to the Committee’s attention a document containing statements by a former Boeing employee. We will continue to cooperate with the Committee as it continues its investigation. And we will continue to follow the direction of the FAA and other global regulators, as we work to safely return the 737 Max to service.”

Copyright © 2019, ABC Audio. All rights reserved.

Boeing pilots messaged about 737 Max issues years before 2 crashes killed 346

Posted on: October 18th, 2019 by ABC News No Comments

Robert Michaud/iStock(NEW YORK) — Internal messages between two Boeing pilots appear to show the company knew about problems with an automated system in the 737 Max aircraft in 2016, two years before two separate crashes involving the Max killed 346 people.

In a document obtained by ABC News, Boeing’s chief technical pilot, Mark Forkner, told a colleague that the plane’s MCAS system was “running rampant in the sim on me.” Forkner said in the messages that in the simulation the MCAS was “trimming itself craxy,” likely meaning “crazy,” and that it was “egregious.” News of the internal messages was reported earlier by The New York Times.

The maneuvering characteristics augmentation system, or MCAS, is an automated flight control system designed to change the angle of an airplane to prevent a stall. Faulty MCAS systems are believed to have caused the Lion Air crash in Indonesia, which killed 189 last October, and the Ethiopian Air disaster in March that killed 157.

After those incidents, the aircraft was grounded pending additional safety certifications.

The FAA obtained the messages last night in a document from Boeing, and FAA Administrator Steve Dickson sent a letter to Boeing CEO Dennis Muilenburg requesting an immediate explanation. Dickson also requested an explanation about the delay in disclosing the document to the FAA because it was his understanding that “Boeing discovered the document in its files months ago.”

In a statement, the FAA said that the agency finds the document’s contents disturbing and that regulators are “disappointed that Boeing did not bring this document to our attention immediately upon its discovery.”

Peter DeFazio, D-Ore., chair of the House Transportation committee, said in a statement that the conversation between Boeing employees is “shocking, but disturbingly consistent with what we’ve seen so far in our ongoing investigation of the 737 Max, especially with regard to production pressures and a lack of candor with regulators and customers.”

Muilenburg is scheduled to appear before Congress later this month.

“Over the past several months, Boeing has been voluntarily cooperating with the House Transportation & Infrastructure Committee’s investigation into the 737 Max,” the company said in a statement on Friday. “As part of that cooperation, today we brought to the Committee’s attention a document containing statements by a former Boeing employee. We will continue to cooperate with the Committee as it continues its investigation. And we will continue to follow the direction of the FAA and other global regulators, as we work to safely return the 737 Max to service.”

Copyright © 2019, ABC Audio. All rights reserved.

CEOs, attorneys general trying to reach opioid settlement

Posted on: October 18th, 2019 by ABC News No Comments

Chief executives of a handful of pharmaceutical and drug distribution companies are negotiating with government attorneys to see if they can reach a settlement ahead of the first federal trial over the nation’s opioid crisis

CEOs, attorneys general trying to reach opioid settlement

Posted on: October 18th, 2019 by ABC News No Comments

Chief executives of a handful of pharmaceutical and drug distribution companies are negotiating with government attorneys to see if they can reach a settlement ahead of the first federal trial over the nation’s opioid crisis

Ex-salon chief alleges Wynn Resorts spied at his new job

Posted on: October 18th, 2019 by ABC News No Comments

A former salon director who went public about sexual misconduct allegations against casino mogul Steve Wynn is suing Wynn Resorts and executives, alleging they invaded his privacy and spied on him at his next job in a bid to undercut his accounts

Ex-salon chief alleges Wynn Resorts spied at his new job

Posted on: October 18th, 2019 by ABC News No Comments

A former salon director who went public about sexual misconduct allegations against casino mogul Steve Wynn is suing Wynn Resorts and executives, alleging they invaded his privacy and spied on him at his next job in a bid to undercut his accounts

Messages from former Boeing test pilot reveal Max concerns

Posted on: October 18th, 2019 by ABC News No Comments

FAA raps Boeing for delay in disclosing employees’ instant messages about the now-grounded Max jet

Messages from former Boeing test pilot reveal Max concerns

Posted on: October 18th, 2019 by ABC News No Comments

FAA raps Boeing for delay in disclosing employees’ instant messages about the now-grounded Max jet

Google affiliate begins drone deliveries in Virginia town

Posted on: October 18th, 2019 by ABC News No Comments

A Google affiliate has started delivering packages with drones in a test being run in a Virginia town

Google affiliate begins drone deliveries in Virginia town

Posted on: October 18th, 2019 by ABC News No Comments

A Google affiliate has started delivering packages with drones in a test being run in a Virginia town

Huawei exec: Chinese tech giant wants to be ‘transparent’

Posted on: October 18th, 2019 by ABC News No Comments

A top executive of Chinese tech giant Huawei says the company wants to be open and transparent

Huawei exec: Chinese tech giant wants to be ‘transparent’

Posted on: October 18th, 2019 by ABC News No Comments

A top executive of Chinese tech giant Huawei says the company wants to be open and transparent

Oracle Co-CEO Mark Hurd dies at 62

Posted on: October 18th, 2019 by ABC News No Comments

wellesenterprises/iStock(NEW YORK) —  Mark Hurd, a tech industry tycoon and the co-CEO of Oracle, died on Friday, according to co-founder Larry Ellison. Hurd was 62.

“It is with a profound sense of sadness and loss that I tell everyone here at Oracle that Mark Hurd passed away early this morning,” Ellison wrote in a statement posted to Hurd’s website. “Mark was my close and irreplaceable friend, and trusted colleague.”

The company “has lost a brilliant and beloved leader who personally touched the lives of so many of us during his decade at Oracle,” the statement added.  

Ellison noted that while some will miss his mentorship, “I will miss his kindness and sense of humor.”

Hurd is survived by his wife, Paula, and two daughters “who were the joy of his life,” Ellison said.

“I know that many of us are inconsolable right now, but we are left with memories and a sense of gratitude … that we had the opportunity to get know Mark, the opportunity to work with him … and become his friend,” Ellison said.

News of Hurd’s death comes a little over a month after Oracle announced in a statement that he was taking a leave of absence for health reasons, without providing details.

“Though we all worked hard together to close the first quarter, I’ve decided that I need to spend time focused on my health,” Hurd wrote in a letter to colleagues on Sept. 11. “I love Oracle and wish you all success during my absence.”

Hurd joined Oracle as president in 2010 and was named co-CEO four years later. He has been credited with leading Oracle’s push toward investing in cloud computing.

He is an alumnus of Baylor University, which he attended on a tennis scholarship, according to his personal website. Until his death, he remained involved in the university’s initiatives.

Prior to joining Oracle, Hurd worked at Hewlett-Packard, where he was CEO and president from 2005 to 2010.

Hurd resigned from HP in August 2010 following allegations of sexual harassment from a female contractor. His severance package of $12.2 million drew criticism at the time.

“I realized there were instances in which I did not live up to the standards and principles of trust, respect and integrity that I have espoused at HP,” Hurd said in a statement when he resigned.

Copyright © 2019, ABC Audio. All rights reserved.

Oracle Co-CEO Mark Hurd dies at 62

Posted on: October 18th, 2019 by ABC News No Comments

wellesenterprises/iStock(NEW YORK) —  Mark Hurd, a tech industry tycoon and the co-CEO of Oracle, died on Friday, according to co-founder Larry Ellison. Hurd was 62.

“It is with a profound sense of sadness and loss that I tell everyone here at Oracle that Mark Hurd passed away early this morning,” Ellison wrote in a statement posted to Hurd’s website. “Mark was my close and irreplaceable friend, and trusted colleague.”

The company “has lost a brilliant and beloved leader who personally touched the lives of so many of us during his decade at Oracle,” the statement added.  

Ellison noted that while some will miss his mentorship, “I will miss his kindness and sense of humor.”

Hurd is survived by his wife, Paula, and two daughters “who were the joy of his life,” Ellison said.

“I know that many of us are inconsolable right now, but we are left with memories and a sense of gratitude … that we had the opportunity to get know Mark, the opportunity to work with him … and become his friend,” Ellison said.

News of Hurd’s death comes a little over a month after Oracle announced in a statement that he was taking a leave of absence for health reasons, without providing details.

“Though we all worked hard together to close the first quarter, I’ve decided that I need to spend time focused on my health,” Hurd wrote in a letter to colleagues on Sept. 11. “I love Oracle and wish you all success during my absence.”

Hurd joined Oracle as president in 2010 and was named co-CEO four years later. He has been credited with leading Oracle’s push toward investing in cloud computing.

He is an alumnus of Baylor University, which he attended on a tennis scholarship, according to his personal website. Until his death, he remained involved in the university’s initiatives.

Prior to joining Oracle, Hurd worked at Hewlett-Packard, where he was CEO and president from 2005 to 2010.

Hurd resigned from HP in August 2010 following allegations of sexual harassment from a female contractor. His severance package of $12.2 million drew criticism at the time.

“I realized there were instances in which I did not live up to the standards and principles of trust, respect and integrity that I have espoused at HP,” Hurd said in a statement when he resigned.

Copyright © 2019, ABC Audio. All rights reserved.

Despite labor costs, GM averts financial woes of its past

Posted on: October 18th, 2019 by ABC News No Comments

Contract deal with United Auto Workers will drive up General Motors’ expenses, but analysts say the company is in far better shape than a decade ago when labor costs helped push it into bankruptcy

Despite labor costs, GM averts financial woes of its past

Posted on: October 18th, 2019 by ABC News No Comments

Contract deal with United Auto Workers will drive up General Motors’ expenses, but analysts say the company is in far better shape than a decade ago when labor costs helped push it into bankruptcy

J&J recalls baby powder after trace asbestos found in bottle

Posted on: October 18th, 2019 by ABC News No Comments

Johnson & Johnson recalls baby powder as a precaution after testing found asbestos traces in a single bottle

J&J recalls baby powder after trace asbestos found in bottle

Posted on: October 18th, 2019 by ABC News No Comments

Johnson & Johnson recalls baby powder as a precaution after testing found asbestos traces in a single bottle

FAA confronts Boeing over undisclosed internal communication

Posted on: October 18th, 2019 by ABC News No Comments

FAA raps Boeing for delay in disclosing employees’ instant messages about the now-grounded Max jet

FAA confronts Boeing over undisclosed internal communication

Posted on: October 18th, 2019 by ABC News No Comments

FAA raps Boeing for delay in disclosing employees’ instant messages about the now-grounded Max jet

Oracle co-CEO Mark Hurd is dead at 62

Posted on: October 18th, 2019 by ABC News No Comments

Oracle CEO Mark Hurd dies at 62

Oracle co-CEO Mark Hurd is dead at 62

Posted on: October 18th, 2019 by ABC News No Comments

Oracle CEO Mark Hurd dies at 62

Pakistan avoids terror financing blacklist _ for now

Posted on: October 18th, 2019 by ABC News No Comments

An international monitoring agency has given Pakistan four months to prove that it is fighting terrorism financing and money laundering, or else it could be put on a damaging black list

Pakistan avoids terror financing blacklist _ for now

Posted on: October 18th, 2019 by ABC News No Comments

An international monitoring agency has given Pakistan four months to prove that it is fighting terrorism financing and money laundering, or else it could be put on a damaging black list

Johnson & Johnson recalls some baby powder after asbestos found

Posted on: October 18th, 2019 by ABC News No Comments

Wachiwit/iStock(NEW YORK) — Johnson & Johnson is voluntarily recalling around 33,000 bottles of baby powder after traces of asbestos were found, the company announced Friday.

The contamination was found in a single bottle of Johnson’s baby powder purchased from an online retailer, prompting the lot, or around 33,000 bottles, to be recalled, the company said.

The amount of asbestos found was considered a “sub-trace level” (no greater than 0.00002 percent), but the company issued the recall “out of an abundance of caution.”

Johnson & Johnson says it is working with the Food and Drug Administration to investigate how the bottle became contaminated.

Two previous tests, one as recently as last month, found no asbestos, the company said.

Exposure to asbestos can cause mesothelioma, a rare but fatal cancer that targets the lining of the lungs.

Anyone who purchased a bottle of Johnson’s Baby Powder Lot #22318RB is advised to not use the product.

For refund information, contact the Johnson & Johnson Consumer Care Center online or by calling (866) 565-2229.

Copyright © 2019, ABC Audio. All rights reserved.

Johnson & Johnson recalls some baby powder after asbestos found

Posted on: October 18th, 2019 by ABC News No Comments

Wachiwit/iStock(NEW YORK) — Johnson & Johnson is voluntarily recalling around 33,000 bottles of baby powder after traces of asbestos were found, the company announced Friday.

The contamination was found in a single bottle of Johnson’s baby powder purchased from an online retailer, prompting the lot, or around 33,000 bottles, to be recalled, the company said.

The amount of asbestos found was considered a “sub-trace level” (no greater than 0.00002 percent), but the company issued the recall “out of an abundance of caution.”

Johnson & Johnson says it is working with the Food and Drug Administration to investigate how the bottle became contaminated.

Two previous tests, one as recently as last month, found no asbestos, the company said.

Exposure to asbestos can cause mesothelioma, a rare but fatal cancer that targets the lining of the lungs.

Anyone who purchased a bottle of Johnson’s Baby Powder Lot #22318RB is advised to not use the product.

For refund information, contact the Johnson & Johnson Consumer Care Center online or by calling (866) 565-2229.

Copyright © 2019, ABC Audio. All rights reserved.