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NEW YORK, April 10, 2024 (AFP) – Federal aviation authorities are investigating claims by a Boeing engineer that the 787 Dreamliner suffers from assembly defects that threaten safety, US officials said Tuesday. Attorneys for the whistleblower, Sam Salehpour, accuse the company of putting profit over safety — and retaliating against him after he raised concerns by “involuntarily” transferring him to the 777 program. At the 777 program, he raised more issues, for which his attorneys […]
NEW YORK, April 8, 2024 (AFP) – Inflation could remain elevated for longer than expected, posing a risk to the US economy’s near-term health, JPMorgan Chase Chief Executive Jamie Dimon said Monday. In his annual letter to shareholders, Dimon pointed to “persistent inflationary pressures” that belie the stock market’s confidence about the outlook and could result in even higher interest rates. “Equity values, by most measures, are at the high end of the valuation range,” […]
By Beiyi SEOW BEIJING, April 8, 2024 (AFP) – The United States “will not accept” a situation where underpriced Chinese goods flood the global market, battering industries elsewhere, US Treasury Secretary Janet Yellen said Monday as she wrapped up high-level talks in China. Yellen repeatedly warned about the risks of China’s excess industrial capacity during four-day talks with officials and business leaders in the southern city of Guangzhou and capital Beijing. Washington’s concern is that […]
By Beiyi SEOW BEIJING, April 7, 2024 (AFP) – US Treasury Secretary Janet Yellen and Chinese Premier Li Qiang sounded a hopeful tone on US-China cooperation on Sunday, though the American policymaker noted both sides cannot shy away from tough conversations. The US-China relationship can only move forward with direct and open communication, Yellen told Li, after arriving in the Chinese capital from the southern city of Guangzhou. Li, in welcoming Yellen, said “China sincerely […]
BALTIMORE, March 31, 2024 (AFP) – Workers have lifted out the first, 200-ton chunk of Baltimore’s collapsed bridge, officials said Sunday, as efforts get underway to clear the harbor of the steel structure destroyed by an out-of-control ship. Demolition crews using blow torches sliced through the upper part of the Francis Scott Key Bridge, which crumbled when the Dali cargo vessel lost power and struck it on Tuesday, killing six people. Authorities hope that removing […]
By Elodie MAZEIN The United States is grappling with a shortage of maintenance workers in the aviation industry, with baby boomers retiring and others changing jobs during the pandemic. This comes as the global fleet of commercial aircraft is set to balloon a third by 2034, involving more than 36,400 vessels, according to a recent study by consulting firm Oliver Wyman. In its wake, spending in the maintenance, repair and overhaul market is projected to […]
BEIJING, March 28, 2024 (AFP) – China is the biggest electric vehicle market in the world, a battle royale featuring both established carmakers as well as upstarts such as Xiaomi, which launched its first EV on Thursday. EV makers from China have made inroads into markets from Europe to Southeast Asia and Tesla’s Elon Musk described them in January as “the most competitive car companies in the world”. How big is the Chinese EV market? […]
By Marie-Morgane LE MOEL PARIS, March 29, 2024 (AFP) – The bridge collapse that closed the Port of Baltimore has raised concerns about the disaster’s potential impact on the global supply chain. Authorities have warned that extensive work is needed before the major port can reopen following Tuesday’s catastrophic cargo ship collision, which has blocked the harbour’s entrance. Here is a look at what it could mean for global trade: – A major car terminal […]
TOKYO, March 29, 2024 (AFP) – Tokyo markets opened higher on Friday after the Dow and S&P 500 closed at new record highs on Wall Street. The benchmark Nikkei 225 index added 0.48 percent, or 193.04 points, to 40,361.11 in early trade, while the broader Topix index rose 0.58 percent, or 16.03 points, to 2,766.84. “Tokyo shares are expected to start strong after the Dow and the S&P 500 hit all-time highs,” brokerage house Monex […]
(AFP) — Disgraced cryptocurrency wunderkind Sam Bankman-Fried was sentenced to 25 years in jail on Thursday — a stunning descent for a figure who seemed poised to lead an emerging sector less than two years ago. US District Judge Lewis Kaplan said the defendant, who became known by his initials “SBF,” had shown no “real remorse,” even in his final pre-sentencing remarks in which the former billionaire rued “a series of bad decisions” but did […]
By Beiyi SEOW with Elodie MAZEIN in New York WASHINGTON, March 27, 2024 (AFP) – Diverted cargo and supply chain disruptions have left businesses rushing to avoid an economic hit following the collapse of a major bridge in Baltimore after it was hit by a cargo ship. With vessel traffic at the Port of Baltimore suspended until further notice since Tuesday’s accident, experts warn of knock-on effects but say these should be manageable in the […]
PARIS, March 26, 2024 (AFP) – The Dali container ship that caused the collapse of a key bridge in Baltimore is recently built and flies under Singapore’s flag. It was constructed by the Korean Hyundai shipyard in 2015 and is 300 metres long (985 feet), 48 metres wide and 24.8 metres tall, with gross tonnage of 95,000 tonnes, making it an average-sized container ship. It had left Baltimore port at 1 am local time Tuesday […]
