(Bloomberg) -- Boeing Co. climbed after U.S. aviation regulators said they’d approved a critical set of test flights on the 737 Max to begin as soon as Monday, having reviewed the company’s safety assessment of fixes for the plane.The Federal Aviation Administration confirmed the start of the multiday program in an email to congressional staffers on Sunday.“Over the past several weeks the FAA has been reviewing the system safety assessment submitted by Boeing,” the agency said in the email. “The FAA’s Type Inspection Authorization Board has completed its review, clearing the way for flight certification testing to begin.”Boeing jumped 8.3% to $184.11 before the start of regular trading in New York. The stock had tumbled 48% this year through June 26, the sharpest decline on the Dow Jones Industrial Average.The agency’s action signals that the government is finally comfortable with the multiple fixes that the planemaker has devised for the plane,...
The S&P 500 and Dow were higher Monday morning, even as a rising number of states across the country reimposed social distancing standards to try and curb increases in coronavirus case counts....
Futures for the S&P 500 and Dow were higher Monday morning, even as a rising number of states across the country reimposed social distancing standards to try and curb increases in coronavirus case counts....
Luckin Coffee Inc. (NASDAQ: LK) Chairman and board members are trying to oust each other in the aftermath of the accounting scandal, as revealed in multiple filings with the United States Securities and Exchange Commission.What Happened The Chinese coffee chain company's board of directors voted to require Chairman and Director Charles Zhengyao Lu to resign from his role, and a meeting will be held on Thursday to consider the proposed resignation and removal.It was "requested by the majority of directors" on Luckin's board, based on the company's internal investigation into a $310 million securities fraud unveiled in April, it said.The chairman, Lu, has separately decided to convene an "Extraordinary General Meeting" on the coming Sunday, where the shareholders will vote on removing Sean Shao, an independent director on the Starbucks Corporation (NASDAQ: SBUX) competitor's board.According to the SEC filing, Lu expressed "concerns of potential disruption to the ongoing internal investigation considering...
