Tuesday 22 October 2019

Exxon, New York prosecutors face off in climate change fraud trial

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Exxon, New York prosecutors face off in climate change fraud trial

A lawyer for New York's attorney general on Tuesday told a state judge that Exxon Mobil Corp used two sets of books to hide the true cost of climate change regulations from investors, while an attorney for the oil major assailed the claims as politically motivated.

Boeing makes progress on 737 MAX, but FAA needs weeks to review

Boeing Co is making progress toward getting its 737 MAX aircraft in the air again, but the U.S. Federal Aviation Administration (FAA) will need at least several more weeks for review, FAA Administrator Steve Dickson said on Tuesday.

Boeing replaces senior executive as 737 MAX crisis grows

Boeing Co on Tuesday replaced the top executive of its commercial airplanes division, Kevin McAllister, marking the first high-level departure since the fallout started over two fatal crashes of its 737 MAX.

Pound, stocks slip as lawmakers reject Brexit law timetable

The pound weakened and stocks on world markets declined on Tuesday after British lawmakers rejected the government's proposed timetable for passing legislation to ratify its deal to exit the European Union.

U.S. business borrowing for equipment rises 18% in September: ELFA

U.S. companies' borrowing to spend on capital investments rose 18% in September from a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Tuesday.

SoftBank clinches deal to take over WeWork: sources

SoftBank Group Corp has agreed to spend more than $10 billion to take over WeWork, doubling down on an ill-fated investment and paying off its co-founder Adam Neumann to relinquish control, people familiar with the matter said on Tuesday.

U.S. Defense chief won't review $10 billion cloud computing deal due to conflict of interest

U.S. Defense Secretary Mark Esper has removed himself from reviewing a disputed $10 billion cloud computing contract because of a possible conflict of interest, the Pentagon said on Tuesday.

Nike CEO Mark Parker to step down, John Donahoe to take over

Nike Inc's long-time chief executive officer, Mark Parker, will step down next year and be replaced by John Donahoe, the CEO of cloud computing firm ServiceNow Inc , the footwear and apparel maker said on Tuesday.

Clean getaway: Meat waste joins biofuels at luxury jet show

At the world's biggest industry show in Las Vegas luxury jets are luring buyers with their sleek silhouettes, plush cabins - and increasingly, their use of alternative fuels.

Oil prices rise on prospects for U.S.-China trade deal

Oil prices rose on Tuesday after China signaled progress in trade talks with the United States, but gains were capped by forecasts of a buildup in U.S. crude stockpiles.

Johnson & Johnson CEO testified Baby Powder was safe 13 days before FDA bombshell

Facing off against a plaintiff's lawyer for the first time about Johnson & Johnson's Baby Powder, the company's Chief Executive Alex Gorsky earlier this month insisted that the company's iconic brand was safe.

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