President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
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Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread more
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Walmart said Monday it's relaunching the once-beloved trendy New York fashion brand, Scoop NYC, on its website nationwide and in select stores.Retailread more
4th quarterâ@ (Corrects headline word to 'flights' from 'fights')
SEATTLE, Aug 20 (Reuters) - Boeing Co said on Tuesday it plans to add extra staff and hire "a few hundred" temporary employees at an airport in Washington state where it is storing many grounded 737 MAX jetliners, a key step in its best-case plan for resuming deliveries to airline customers in October.
The world's largest planemaker, burning cash as one of the worst crises in its history stretches into a sixth month, said the workers will assist with aircraft maintenance and customer delivery preparations at Grant County International Airport.
The hiring plans are the first publicly detailed steps Boeing will take as it works to deliver hundreds of grounded 737 MAX jets to airlines globally, an undertaking that would amount to one of the biggest logistical operations in modern civil aviation.
Chicago-based Boeing has been unable to deliver any 737 MAX aircraft since the single-aisle plane was grounded worldwide in March after two fatal crashes in Indonesia and Ethiopia killed 346 people, cutting off a key source of cash and hitting margins.
Global airlines have had to cancel thousands of flights and use spare aircraft to cover routes that were previously flown with the fuel-efficient MAX, eating into their profitability. Many carriers have taken the MAX off their schedules late into the fall or early 2020.
Boeing reiterated on Tuesday that it was working toward getting the 737 MAX flying again commercially in the "early fourth quarter" after it wins approval of reprogrammed software for the stall-prevention system at the center of both crashes.
In late July, U.S. Federal Aviation Administration Deputy Administrator Dan Elwell declined to be pinned down on Boeing's previously stated target of October for entry into service.
"We don't have a timeline," Elwell said. "We have one criteria. When the 737 MAX has been - when the complications to it have been satisfactorily assessed, and the MAX is safe to return to service, that's the only criteria."
Boeing said it plans to move all the aircraft from Moses Lake, an eastern Washington location where it runs test flights, to facilities in the Seattle and Everett areas where its factories are located.
Hundreds of Boeing 737 MAX jets remain grounded worldwide, and Boeing has continued building the jets at a rate of 42 per month in the Seattle area. The U.S. planemaker is also storing freshly built aircraft outside its factories in Renton and Everett, around Seattle. It also has jets parked at a facility in San Antonio, Texas.
The total cost so far of the 737 MAX crisis is more than $8 billion, mainly due to compensation the planemaker will have to pay airlines for the delayed deliveries and lower production.
(Reporting by Eric M. Johnson in Seattle Editing by Nick Zieminski and Lisa Shumaker)