Russian Firm Sues Boeing Over Max Jet, Says Defects HiddenBoeing lost $3 billion in the second quarter after taking a $4.9 billion after-tax charge to cover future costs of compensating airlines and other Max customers. Boeing is working to upgrade flight-control software implicated in the crashes, and expects the plane to be cleared to fly in November.
Target Teams Up With Disney To Open ShopsDisney, which operates about 300 of its own stores globally, is looking for new ways to reach customers amid weak traffic declines at malls. Bob Chapek, chairman of Disney Parks, Experiences and Products, said there's a 90% overlap between Disney and Target customers.
Kraft Heinz Brings Back Former CFO Amid StrugglesKraft Heinz, which is based in Pittsburgh and Chicago, was also forced to restate earnings from multiple years in May after a federal investigation into its accounting practices.
VW Recalls 679K Cars In US To Fix Potential Rollaway ProblemVW says silicate can build up on a shift lever switch, allowing the key to be removed if the lever isn't in park. That could let the cars roll off unexpectedly.
FAA Seeking Pilots To Test Fixes For Grounded Boeing 737 Max JetsFederal safety officials are recruiting pilots from airlines around the world to test changes that Boeing is making to the flight-control software on the grounded 737 Max jet, according to two people briefed on the situation.
United Adding New Routes In Push For High-Fare PassengersMany of the flights will use a version of Boeing's 767 jet that United is configuring with fewer seats than planes it is replacing — but crucially, with more business-class seats that generate much higher fares.
Union Wins First Step Against Boeing Over Fired WorkersThe International Association of Machinists and Aerospace Workers claims six workers were wrongly fired — five in retaliation for supporting the union — and others were disciplined at the plant in North Charleston, where employees build the Boeing 787.
Target Launching Private Label In Fight For Grocery ShareThe launch builds on Target's food and beverage business momentum, which includes seven straight quarters of sales growth at established stores and six straight quarters of market share growth with gains across almost every category of food.
Virgin Galactic Reveals Futuristic Outpost For Space TourismTwo levels within the spaceport include mission control, a preparation area for pilots and a lounge for customers and their friends and families, with each element of the fit and finish paying homage to either the desert landscape that surrounds the futuristic outpost or the promise of traveling to the edge of space.
With Flooding And A Trade War, Deere Cuts Outlook AgainChina this month abruptly cut off purchases of U.S. farm products in protest of tariffs and tariff threats from the Trump administration.
Dole Recalls Baby Spinach After Random Test Finds SalmonellaThe spinach being recalled has a use-by-date of Aug. 5 and was distributed in 10 states: Illinois, Indiana, Kentucky, Michigan, New Jersey, New York, Ohio, Tennessee, Virginia and Wisconsin.
Raid On Poultry Plant Owned By Park Ridge Company To Have Long Term EffectsKoch Foods, one of the country's largest poultry producers based in the Chicago suburb of Park Ridge, said in a statement that it follows strict procedures to make sure full-time employees are eligible to work in the country.
Walmart Pulls Violent Game Displays, No Change On Gun SalesPatrick Markey, a psychology professor at Villanova University who focuses on video games, found in his research that men who commit severe acts of violence actually play violent video games less than the average male.
Sears And Kmart Closing 26 More Stores In October
FedEx To End Ground Delivery Business With AmazonThe announcement comes two months after FedEx already terminated its air delivery contract with Amazon. FedEx said dumping Amazon is part of its plan to go after more e-commerce deliveries from other companies.