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International regulators likely to fault Boeing over 737 Max certification process

A panel of international air-safety regulators is finishing a report expected to criticize the initial U.S. approval process for Boeing Co.’s BA, -0.24%   737 Max jets, according to people briefed on the conclusions, while urging a wide-ranging reassessment of how complex automated systems should be certified on future airliners. As part of roughly a dozen findings, these government and industry officials said, the task force is poised to call out the Federal Aviation Administration for what it describes as a lack of…

Tech stocks face a 10% drop in the near-term, warns investor who once ran the world’s biggest technology fund

While President Trump says the U.S. is “locked and loaded” and investors sift through the aftermath of the weekend attack that disrupted Saudi Arabia’s crude output, the Wall Street vet who ran Merrill Lynch’s giant tech fund during the dot-com days issued a warning for those looking to hitch their ride to the tech sector. A near-term correction is “inevitable,” warns Paul Meeks, portfolio manager at Independent Solutions Wealth Management, in our call of the day. We’re already seeing red ink spilled all over the…

Look at this ETF for a ‘conscious capitalism’ approach

Early in August, the U.S. Business Roundtable, an influential corporate interest group, announced that it was redefining the purpose of a corporation. From now on, group members commit to lead their companies “for the benefit of all stakeholders: customers, employees, suppliers, communities and shareholders.” For anyone dismayed by rising inequality, environmental destruction, or any of a host of other social ills, the announcement probably sounded like a nice first step, but many people have long wanted Big Business to…

10-year Treasury touches nearly six-week high after trade fears ease

U.S. Treasury yields rose Thursday after reports that the White House had discussed the possibility of a limited trade agreement with Beijing, sparking a selloff in haven assets like government bonds. What are Treasurys doing? The 10-year Treasury note yield TMUBMUSD10Y, +0.89%  climbed 5.6 basis points to 1.789%, around a six-week high, while the two-year note rate TMUBMUSD02Y, +0.76%  was up 5.3 basis points to 1.723%, also a nearly six-week high. The 30-year bond yield TMUBMUSD30Y, +0.37%  advanced 5.5 basis points to a…

Stock Futures Spike as Trump Delays Tariff Hike on Chinese Goods as ‘Gesture’

President Donald Trump tweeted late Wednesday that he will delay imposition of additional tariffs on $250 billion in Chinese goods scheduled to go into effect Oct. 1 until Oct. 15 as a "gesture of good will," sending overnight stock futures higher. Futures contracts on the Dow Jones Industrial Average and the S&P 500 rose 0.5% while those on the Nasdaq surged 0.7%. The move comes amid signs that the trade war between the worlds two largest economies may be cooling off. China this week said it's holding off on…

T. Boone Pickens, Oil Tycoon, Corporate Raider, Dies at 91

Oil tycoon and corporate raider T. Boone Pickens died Wednesday according to a statement on the boonepickens.com web site. He was 91 years old. Born in Oklahoma, Pickens went to work for Phillips Petroleum after graduating from college. Two years later he invested $2,500 to create his own drilling company, which he took public in 1964 and renamed Mesa Petroleum. Pickens turned his efforts to acquiring other companies in the 1980s, when the stocks of the major petroleum producers were so cheap that it became easier to…

U.S. Mortgage Boom Resumes as Interest Rates Fall to 3-Year Low

U.S. mortgage rates fell to a three-year low last week, helping to extend this year's boom in home borrowing. Applications for new home loans increased by an adjusted 2% during the week ended Sept. 6, the Mortgage Bankers Association said Wednesday. The level of borrowing is up some 69% from the same time last year. "August overall was the strongest month of activity so far in 2019," Joel Kan, associate vice president of economic and industry forecasting for the Mortgage Bankers Association, said in a press release.…

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