Boeing 737 Max jets could soon return to the skiesPosted: Updated:
Boeings 737 Max jet could soon return to the skies. Reuters is reporting that the FAA says it could approve Boeing's software fix for the plane next month. The company recently said it fixed an issue with the plane's anti-stall system, widely believed to be the cause of two recent deadly plane crashes. The news came just hours after the FAA convened a meeting with global regulators to discuss the troubled plane. The fleet has been grounded worldwide since March.
Facebook is changing how it handles its relationships with political campaigns in light of increasing criticism about its role in the 2016 election. The tech giant announced it has stopped paying commissions to employees who sell political ads. The new model is designed to end the "more-is-better" mentality and not reward employees for pushing more ads. The company was also reportedly considering putting an end to political ads but CEO Mark Zuckerberg ultimately ruled against it, according to the Journal.
It was a rough week for Tesla. Shares of the automaker dropped for six straight trading sessions before turning higher Thursday, after a leaked e-mail reportedly sent from Elon Musk to employees claimed the company has a chance this quarter to beat its all-time deliveries record set in quarter four of last year. Morgan Stanley outlined a worst case scenario that could see Tesla's stock fall to as low as $10 a share.
U.S. crude inventories are spiking and increasing trade tensions between the U.S. and China is adding uncertainty about global economic growth, causing prices at the gas pump to cool down to a national average of about $2.86 on Friday. Retailers are also feeling the heat from U.S.-China trade wars. Major chains like Nordstrom, J. C. Penney and Kohl's all reported a decline in sales in their quarterly earnings reports. Kohl's cited additional costs related to rising import tariffs as a reason for lowering its guidance for the year. The retailer imports about 20% of its goods from China.