Boeing Co on Saturday pulled out of a $4.2 billion deal to buy Embraer's commercial jets division, sparking a furious response from its jilted partner and leaving plans for a U.S.-Brazil alliance from regional jets to jumbos in tatters. The collapse, first reported by Reuters, came hours after a midnight deadline expired with no agreement on how to implement a deal first aired in 2018, partially in response to a similar Canadian acquisition by Europe's Airbus . Boeing accused Embraer of failing to meet conditions for closing the transaction, but Embraer said Boeing had torpedoed it because of wider financial problems it faces as a result of the coronavirus crisis and the grounding of its 737 MAX....
Boeing Co on Saturday said it had canceled a $4.2 billion deal to buy the commercial jets division of Embraer , unraveling years of work on what the Brazilian planemaker expected to be a transformative move. Boeing's statement confirmed a Reuters story earlier on Saturday and followed a story on Friday in which Reuters reported that the deal was close to collapse as the two parties neared a crucial midnight deadline. Boeing said in the statement that Embraer had failed to meet certain conditions for the deal to go through, although it did not specify which ones....
Apple’s second-generation iPhone SE has followed the same winning formula as its legendary predecessor—a familiar, compact design, up-to-date specs, and accessible price. But it has brought with it futureproof hardware and exciting features....
(Bloomberg) -- There’s no evidence that having the coronavirus protects patients from a second infection, the World Health Organization said. Global cases surpassed 2.8 million, with the U.S. now accounting for more than a quarter of all fatalities after topping 50,000.Deaths in Spain remained under 400 for a second day and Germany posted its lowest fatality rate in five days. Singapore had its smallest case increase in at least six days.Key DevelopmentsVirus Tracker: Cases top 2.8 million; deaths exceed 197,000There’s ‘no evidence’ people recovered from disease are safe: WHOTrump’s riff on disinfectant shows peril of improvised briefingsThe world’s highest death rate is in Europe’s capitalFixing nursing home death traps is top priorityCoronavirus will forever change airlines and the way we flySubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus. For a look back at this...
Vanguard and Fidelity report investors "staying the course" two months into the coronavirus plunge in the stock market, despite a notable increase in hardship distributions....
