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Families of victims appalled as Boeing seems likely to avoid prosecution over 737 Max crashes

Saturday, 17 May 2025 23:40

Boeing is set to avoid prosecution in a fraud case sparked by two fatal crashes of its bestselling 737 Max jet that killed 346 people, according to sources familiar with the matter.

The US Department of Justice is considering a non-prosecution agreement, relatives of the victims were told on Friday, through which the US aerospace giant would not be required to plead guilty.

Representatives of the crash victims’ families expressed outrage, describing the proposal as “morally repugnant” after a tense call with senior justice department officials.

Boeing declined to comment. The justice department did not immediately respond to a request for comment. The tentative deal was first reported by Reuters.

In October 2018, 189 people were killed when Lion Air flight 610 fell into the Java Sea off Indonesia. In March 2019, Ethiopian Airlines flight 302 crashed shortly after takeoff from Addis Ababa airport, claiming 157 lives.

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Moody's Pushes U.S. Out Of Elite 'AAA' Credit Club, Citing Rising Debt

Friday, 16 May 2025 22:37

Moody's downgrades US Moody’s on Friday cut the U.S. credit rating by one notch, citing rising debt and interest payments that outpace those of similarly rated sovereigns, in a move that marks the end of an era as Moody’s was the last major agency to maintain a triple-A rating for U.S. sovereign debt.

The downgrade to “Aa1” from “Aaa” follows a change in the outlook on the sovereign in 2023 due to wider fiscal deficit and higher interest payments, and comes as the U.S. Congress debates tax and spending plans that could deepen the U.S. fiscal hole.

Walmart says higher prices from tariffs coming as soon as this month

Thursday, 15 May 2025 23:09

Walmart says U.S. tariffs on imports from China and other countries will force the retail giant to begin raising some prices as soon as this month.

The company's CEO Doug McMillon said Thursday many items on the stores' shelves are costing more for the company, and will start costing more for shoppers too. Walmart's finance chief said higher prices were likely to come as soon as this month and into the summer.

Speaking to investors after releasing quarterly earnings, McMillon said Walmart will work to protect food prices as much as possible.

"We will do our best to keep our prices as low as possible," he said. "But given the magnitude of the tariffs, even at the reduced levels announced this week, we aren't able to absorb all the pressure given the reality of narrow retail margins in retail."

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Walgreens closing dozens of stores across 17 states: Here’s where

Tuesday, 13 May 2025 22:08

Walgreens closings Dozens of Walgreens locations are preparing to close in the coming weeks and months after the pharmacy giant announced plans to shutter about 1,200 stores to turn around its struggling U.S. business.

In October, Walgreens said about 500 store closures would happen during the fiscal year, but didn’t explain when the remainder would take place.

As of Tuesday, however, some of its more than 8,000 stores have been marked for impending closure online.

“This location will permanently close on May 22. We’re sorry for any inconvenience this may cause,” a banner on the location page for the Walgreens in East Haven, Connecticut, reads, offering customers information about transferring their prescriptions to another Walgreens.

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‘No one’s buying anything now’: how tariffs are striking a blow to historic Chinatowns

Saturday, 10 May 2025 23:22

On a balmy afternoon last month, Amy Tran unboxed a delivery at Yue Wa Market, a small grocery and herbal medicine shop in Los Angeles’s Chinatown that she opened 17 years ago.

The package contained two dozen units of Shou Wu Chih, a Chinese herbal concoction known to rebuild kidney function and promote hair health. The shipment arrived two weeks after the US implemented new tariffs on Chinese imports, so her distributor charged her $115, a $35 markup from her previous order.

Tran said she had no choice but to increase the retail price from $6 to $7. It’s a steep up-charge for her customers, who are primarily Chinese seniors living off food stamps, some barely able to afford to buy a piece of fresh fruit or vegetable.

Warren Buffett Announces He'll Retire From Berkshire Hathaway, Shocks Shareholders

Saturday, 03 May 2025 22:12

Warren Buffett resigns Revered investor Warren Buffett shocked an arena full of his shareholders Saturday by announcing that he wants to retire at the end of the year.

Buffett said he will recommend to Berkshire Hathaway’s board Sunday that Greg Abel should become CEO at the end of the year.

“I think the time has arrived where Greg should become the chief executive officer of the company at year end,” Buffett said.

Abel has been Buffett’s designated successor for years, and he already manages all of Berkshire’s noninsurance businesses. But it was always assumed he wouldn’t take over until after Buffett’s death. Previously, the 94-year-old Buffett has always said he has no plans to retire.

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Trump softens tariff tone amid empty shelves warning, market slump

Wednesday, 23 April 2025 22:34

chain store ceo's meet with Trump Executives from three of America’s biggest retail chains warned President Donald Trump that things could get ugly if his aggressive economic agenda proceeds as planned, according to a new report from Axios.

During a private meeting in the Oval Office on Monday, the CEOs of Walmart, Target and Home Depot reportedly told the president that supply chains could freeze and prompt stores’ shelves to go barren if he doesn’t rein in his sharp tariff plans, and meddles with the Federal Reserve.

“The big box CEOs flat out told him the prices aren’t going up, they’re steady right now, but they will go up,” an administration official familiar with the meeting told Axios. “And this wasn’t about food. But he was told that shelves will be empty.”

According to a separate official briefed on the meeting, Trump was told that if he doesn’t change course, the impact could be noticeable in as little as two weeks.

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