Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
Beijing is still short on details on how it will respond to new U.S. tariffs on Chinese goods.World Economyread more
Falling air cargo demand could be flashing warning signs about the broader economy.Transportationread more
U.S. Secretary of State Mike Pompeo says Huawei CFO Meng Wanzhou, who is under house arrest in Canada and facing extradition to America, is not a bargaining chip in the trade...Technologyread more
Target's latest earning report shows how these investments are driving traffic and sales at a time when other retailers are struggling.Retailread more
European Union officials drafted a plan to launch a sovereign wealth fund to invest in companies that could compete with U.S. and Chinese tech giants, according to reports in...Technologyread more
The chip, called the Ascend 910, was first unveiled in October last year and is aimed at data centers.Technologyread more
Brazilian President Jair Bolsonaro hit back at French leader Emmanuel Macron, after he urged dialogue among G-7 leaders on the rising number of fires in the Amazon rainforest.World Politicsread more
Investors are rushing to get a piece of its privately held rival Impossible Foods before it goes public, according to the Wall Street Journal.Food & Beverageread more
"The economy may be in good shape now, but if we keep getting more and more tariffs it could deteriorate," Jim Cramer says.Mad Money with Jim Cramerread more
Local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious...Technologyread more
737 MAX 8@ (Adds details on U.S. Senate Commerce Committee hearing, comment by FAA, other background)
WASHINGTON, March 12 (Reuters) - The U.S. Senate Commerce Committee plans to hold a hearing on the fatal crashes of two Boeing Co 737 MAX 8 jets since October as a growing number of lawmakers called on U.S. regulators to ground the airplane.
U.S. Senators Mitt Romney and Elizabeth Warren on Tuesday called on the Federal Aviation Administration to follow several other countries and temporarily ground Boeing Co's 737 MAX 8, days after a crash in Ethiopia killed everyone onboard one of the planes.
"Out of an abundance of caution for the flying public, the (FAA) should ground the 737 MAX 8 until we investigate the causes of recent crashes and ensure the plane's airworthiness," Romney said in a tweet.
The FAA said late on Tuesday that its ongoing review of the 737 MAX shows "no systemic performance issues and provides no basis to order grounding the aircraft."
Senator Roger Wicker, a Republican who chairs the Commerce Committee, said on Tuesday he plans to hold a hearing, along with Senator Ted Cruz, a Republican who chairs a subcommittee on aviation and space.
Cruz said it would be prudent "to temporarily ground 737 Max aircraft" until the FAA "confirms the safety of these aircraft and their passengers." Cruz added he intends "to hold a hearing to investigate these crashes, determine their contributing factors, and ensure that the United States aviation industry remains the safest in the world."
The calls came as the European Union Aviation Safety Agency and numerous countries including Britain, China, Australia, Germany, France and Singapore have grounded the aircraft.
Warren, a Democratic presidential candidate, said the FAA should "immediately ground this plane in the United States until its safety can be assured."
Romney, the Republican candidate for president in 2012, joined similar calls not only from Warren, but from her fellow Democratic Senators Richard Blumenthal and Dianne Feinstein.
The FAA said foreign civil aviation authorities have not "provided data to us that would warrant action" but emphasized that if safety concerns are raised in its review it "will take immediate and appropriate action."
Regulators around the world and a growing number of airlines are grounding the 737 MAX 8 in the wake of two fatal crashes in five months. The previous crash occurred in Indonesia in October and killed 189 people.
Sara Nelson, who heads the Association of Flight Attendants union, on Tuesday urged the FAA to temporarily ground the 737 MAX fleet, as did Consumer Reports, an influential U.S. magazine.
"This is about public confidence in the safety of air travel," said Nelson.
Boeing in a statement on Tuesday did not directly address the senators' comments but said it has "full confidence in the safety of the MAX" and noted the FAA has not mandated "any further action at this time."
Boeing added it understands "regulatory agencies and customers have made decisions that they believe are most appropriate for their home markets."
The FAA told international carriers on Monday there was no need to ground the plane but it would mandate a software upgrade and training changes by April. Boeing confirmed late on Monday that it will roll out those changes in the coming weeks.
U.S. President Donald Trump, who has been briefed on the Ethiopian Airlines crash according to administration officials, on Tuesday tweeted that "Airplanes are becoming far too complex to fly. Pilots are no longer needed, but rather computer scientists from MIT."
He added "complexity creates danger. All of this for great cost yet very little gain. I dont know about you, but I dont want Albert Einstein to be my pilot. I want great flying professionals that are allowed to easily and quickly take control of a plane!"
Trump spoke to Boeing Chief Executive Dennis Muilenburg on Tuesday after the tweets were issued and received assurances that the aircraft was safe, three people briefed on the call said. The call had been in the works since Monday night, a source said.
White House Press Secretary Sarah Sanders told Fox News on Tuesday that it was "very early in the process" of deciding whether to ground the 737 MAX 8. She added the White House would be in "constant contact" with the FAA "to make determinations at an appropriate time."
(Reporting by David Shepardson, Ginger Gibson and Lisa Lambert in Washington Writing by Makini Brice Editing by David Gregorio and Matthew Lewis)