The trade war between the United States and China has lasted for more than one year — and a resolution is nowhere in sight.World Economyread more
The Fed is expected to cut rates Wednesday, but it is unlikely to tell markets what they want to hear on future rate cuts.Market Insiderread more
Pelosi said Trump should not have tried to address China's trade practices in a way that opened Americans up to financial pain.Politicsread more
Investors await the Fed's latest decision on monetary policy, set to be released on Wednesday stateside. The U.S. central bank is widely expected to cut rates by 25 basis...Asia Marketsread more
TransferWise posted an annual net profit of £10.3 million on revenues of £179 million.Technologyread more
Live the high life with a night's stay at Highclere Castle, the iconic stately home made famous by Downton Abbey.Spendread more
Large banking institutions face the risk of failure if interest rates in Europe continue to stay negative, warns the global chief economist of the Economist Intelligence Unit.Banksread more
The fallout from two fatal crashes of Boeing 737 Max planes has ensnared the manufacturer's most-loyal customer: Southwest Airlines. The carrier has canceled thousands of...Airlinesread more
Brent crude oil jumped the most in history in the previous session after attacks on Saudi's oil industry disrupted the kingdom's production.Marketsread more
In the survey, conducted after the third in the Democratic Party's series of debate, the former vice president draws 31% compared to 25% for the Massachusetts senator. At 14%,...2020 Electionsread more
Stocks rose slightly on Tuesday, but gains were capped as the Federal Reserve kicked off a two-day monetary policy meeting.US Marketsread more
SEATTLE, June 7 (Reuters) - Boeing Co learned that a cockpit warning light on its 737 MAX jetliner was defective in 2017 but decided to defer fixing it until 2020, U.S. lawmakers said on Friday.
The defective warning light alerts pilots when two sensors that measure the angle between the airflow and the wing disagree. Faulty "angle of attack" data is suspected of playing a role in two deadly crashes involving Boeing's best-selling 737 MAX in Indonesia in October and in Ethiopia in March.
Those crashes, which killed 346 people, have triggered investigations by aviation regulators and U.S. lawmakers and left Chicago-based Boeing facing one of the biggest crises in its more than 100-year history.
Boeing decided in November 2017 to defer a software update to correct the so-called AOA Disagree alert defect until 2020, three years after discovering the flaw, U.S. Congressmen Peter DeFazio and Rick Larsen said in a press release on Friday. Boeing only accelerated this schedule after the Lion Air accident in Indonesia, they added.
Boeing spokesman Gordon Johndroe said by email that a company safety review found the absence of the AOA Disagree alert did not adversely impact airplane safety or operation.
"Based on the safety review, the update was scheduled for the MAX 10 entry into service in 2020," Johndroe said. "We fell short in the implementation of the AoA Disagree alert and are taking steps to address these issues so they do not occur again."
Boeing has said it discovered the problem in 2017, soon after it began delivering its top-selling 737 MAX aircraft to customers. But it did not inform the U.S. Federal Aviation Administration (FAA) about the defect until after the Lion Air crash more than one year later, the lawmakers said.
The House of Representatives Committee on Transportation and Infrastructure sent letters to Boeing, supplier United Technologies Corp and the FAA requesting further details on the AoA Disagree alert, the lawmakers said.
The letter was the second such records request sent by the committee to Boeing and the FAA related to its investigation into the MAX aircraft. (Reporting by Eric M. Johnson in Seattle Editing by Tom Brown)