Category: Business & Finance

Business & Finance

U.S. airlines prepare for 737 MAX tests, Southwest parks jets near desert

CHICAGO/WASHINGTON (Reuters) – Teams from the three U.S. airlines that own 737 MAX jets were heading to Boeing Co’s factory in Renton, Washington, to review a software upgrade on Saturday, even as Southwest Airlines Co began parking its 34 MAXs near the California desert. The factory visits indicate Boeing may be nearing completion of a […]

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DC is doing something about the high cost of buying a house

There is no question Washington is an expensive city to live in, but now city leaders are doing something about it. The latest U.S. Census Bureau data show the average median income in D.C. was $77,000, and only 41 percent of residents own their home. “We are quite literally building housing for our teachers and […]

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More DC brewpubs, tasting rooms to open under proposed bill

There’s new legislation going through city hall that would allow small businesses that make wine, beer or spirits in D.C. to open locations outside of where they make their product. “For us, the idea of having a D.C. Brau retail store down in Gallery Place, or a D.C. Brau stand in Union Market sounds so […]

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Commerzbank CEO sees strong investment bank as good fit: source

FRANKFURT (Reuters) – Commerzbank’s chief executive believes a strong and focused investment bank would be a good addition to the lender, according to a person familiar with his thinking on Friday. The person, speaking on condition of anonymity, revealed Chief Executive Officer Martin Zielke’s thinking as Commerzbank talks about a possible merger with Deutsche Bank […]

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Orangetheory comes to Union Market

D.C. developer Level 2 Development has filled in a piece of the retail puzzle at its new Highline Union Market apartment building, with Orangetheory signing on. The 12-story Highline Union Market apartment building, at 320 Florida Ave., N.E., has an unusual architectural design, with framed glass cubes that weave in and out of the Florida […]

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Indonesia’s Garuda asks to cancel 737 MAX order it had been reconsidering before Ethiopia crash

JAKARTA (Reuters) – Garuda Indonesia has asked to cancel an order for 49 Boeing Co 737 MAX 8 jets, citing a loss of passenger trust following two crashes, although it had been reconsidering the order before the latest disaster in Ethiopia last week. Garuda is the first airline to publicly confirm plans to scrap an […]

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Punjab Grill opens in DC with mirrors, marble and modern menu

Opening Punjab Grill was a decades-long dream for Karan Singh. “Ever since I started coming to the U.S. and saw that Indian food wasn’t so well represented here, I’ve been wanting to do something to make Indian food more of a mainstream cuisine,” said Singh, co-owner of the Tysons Corner restaurant American Tandoor and CEO […]

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Indonesia’s Garuda asks to cancel $6 billion 737 MAX order, considers other Boeing jets: CFO

JAKARTA (Reuters) – National carrier Garuda Indonesia has sent a letter to Boeing Co asking to cancel an order for 49 737 MAX 8 narrowbody jets, Garuda Chief Financial Officer Fuad Rizal said on Friday. The airline could switch the order, valued at $6 billion at list prices, to other Boeing models, Rizal told Reuters. […]

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Hyundai Mobis shareholders vote against Elliott dividend proposal

SEOUL (Reuters) – Hyundai Mobis shareholders voted on Friday against Elliott Management’s proposal for dividend payouts. Elliott Management had called for a special dividend and a board shake-up at Hyundai Motor Group, South Korea’s No.2 family-run conglomerate, to address its “poor governance” and “excess cash”. Reporting by Hyunjoo Jin; Editing by Stephen Coates Our Standards:The […]

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Ethiopia says U.S., EU, French teams helping analyze crash black boxes

ADDIS ABABA (Reuters) – Ethiopian experts have begun analyzing the cockpit voice and flight data recorders, the so-called black boxes, of doomed Ethiopian Airlines flight 302 alongside international investigators, Ethiopia’s Ministry of Transport said on Thursday. The flight crashed shortly after take-off from Addis Ababa on March 10, killing all 157 aboard. The international investigators […]

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Biogen scraps Alzheimer drug trials, wiping $17 billion off its market value

Reuters – Biogen and partner Eisai Co Ltd are ending two late-stage trials for the experimental Alzheimer’s drug aducanumab, in a setback to efforts to find treatments for the disease and for Biogen’s stock, which lost more than $17 billion of its value on Thursday. Without the potential revenue from an Alzheimer’s drug, the company […]

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Deutsche Bank supervisory board debated merger for three hours: source

FRANKFURT (Reuters) – Deutsche Bank’s supervisory board debated a possible merger with rival Commerzbank for three hours at a meeting on Thursday, a person with direct knowledge of the matter said. Christian Sewing, Deutsche Bank’s chief executive, informed the board about the possible merger and said the bank was at the beginning of doing due […]

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Lab or golden retriever? In DC, the most popular dog breed is …

The American Kennel Club’s annual rankings of the most popular AKC-recognized dog breeds are in, and in the District the top dog for 2018 is the Golden Retriever, inching ahead of the Labrador retriever. It is a switch for the top spot. The golden retriever has historically come in second to the lab. The AKC […]

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With eye on Deutsche-Commerzbank, EU sends too big to fail warning

BRUSSELS (Reuters) – Euro zone banking watchdogs said banks planning mergers should make sure they could be wound down in a crisis, a warning likely to resonate with executives seeking to merge German giants Deutsche Bank and Commerzbank. The two lenders confirmed on Sunday they are in tie-up talks following months of pressure from Berlin, […]

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Tencent warns of slower game launches after posting biggest ever profit drop

HONG KONG (Reuters) – Tencent Holdings reported its sharpest ever quarterly profit decline on Thursday, hit by China’s regulatory review of new games and one-off charges, and warned of slower video game launches due to a prolonged approval process. China only resumed new gaming approvals in December after a nine-month hiatus partly due to concerns […]

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