Airlines Find Loose Parts in Door Panels of Boeing Max 9 Jets
Federal investigators are looking into incidents involving loose parts in the door panels of Boeing Max 9 jets, as reported by Alaska Airlines and United Airlines. The National Transportation Safety Board (NTSB) revealed that a door panel flew off an Alaska Airlines jetliner last week after sliding up. The investigation is now examining whether four bolts that should have secured the panel were missing during takeoff. These findings are putting increased pressure on Boeing to address safety concerns. The aircraft manufacturer has called for an online meeting with all employees to discuss safety.
Global Economy Predicted to Slow for Third Year in a Row, Says World Bank
According to the World Bank, the global economy is expected to slow for a third consecutive year in 2024, due to various challenges. Factors such as high interest rates, persistent inflation, slumping trade, and a weakened China are contributing to the slowdown. The World Bank forecasts a growth rate of just 2.4% this year, down from 2.6% in 2023, 3% in 2022, and 6.2% in 2021. The organization also warns that increased global tensions, including conflicts in Israel and Ukraine, pose a risk of even weaker growth. The World Bank is concerned that heavily indebted poor countries will struggle to invest in combating climate change and poverty.
EU Considers Merger Review for Microsoft’s Investment in OpenAI
The European Union (EU) is assessing whether Microsoft’s investment in OpenAI, the maker of ChatGPT, should undergo a merger investigation. The EU’s executive branch is examining whether the investment could infringe on regulations related to mergers and acquisitions that could harm competition within the 27-nation bloc. A formal investigation could potentially lead to the deal being unconditionally approved, allowing concessions from the companies, or being blocked altogether. The UK’s antitrust watchdog has already initiated a similar review, while US antitrust enforcers have also expressed concerns about competition in the AI industry. Microsoft has previously invested billions of dollars in OpenAI.
Wall Street Slightly Retreats, Receding from Previous Day’s Gains
Most stocks on Wall Street experienced a slight retreat, relinquishing some of the significant gains from the previous day. The S&P 500 recorded a 0.2% decline, following its best day in almost two months. The Dow dropped by 185 points, while the Nasdaq composite managed to gain 0.1%. Approximately three out of every four stocks in the S&P 500 saw decreases. However, Nvidia’s rallying performance limited the losses for the S&P 500. Treasury yields remained relatively steady, and oil prices recovered from the previous day’s sharp decline.
General Electric Business to Supply Turbines for the Western Hemisphere’s Largest Wind Project
General Electric (GE) business GE Vernova has secured an order for turbines to power the SunZia Wind Project, set to become the largest wind farm in the Western Hemisphere. The project, located in central New Mexico, will receive over 600 wind turbines from GE Vernova as part of a record equipment order and long-term service deal. Backers of the SunZia Wind Project anticipate that it will begin operations in 2026 and will provide electricity to populated areas in the western United States via a multibillion-dollar transmission line.
Biden Administration Implements New Labor Rule to Prevent Worker Misclassification
To combat the misclassification of workers as independent contractors, the Biden administration has introduced a new labor rule. This rule aims to enhance legal protections and compensation for millions of workers in the United States. App-based platforms like Uber, Lyft, and DoorDash have expressed confidence that the new rule will not require them to reclassify their gig drivers. However, business groups have cautioned that the rule creates ambiguities, and its impact will depend on how the Labor Department enforces it. The new rule replaces a standard implemented during the Trump era that narrowed the criteria for classifying employees as contractors, exempting them from guaranteed minimum wages and benefits.
CES 2024 Set to Showcase Latest Innovations in Tech and Gadgets
CES 2024, the premier trade event organized by the Consumer Technology Association, is kicking off in Las Vegas this week. The event will feature a wide range of advancements and gadgets across various sectors, including personal tech, transportation, healthcare, and sustainability. Artificial intelligence will be a prominent theme throughout the event. The Associated Press will be providing continuous coverage of CES, reporting on the most interesting developments in vehicle tech, wearable devices designed to improve accessibility, and the newest smart home gadgets.
Tiger Woods and Nike Part Ways After Over 27 Years
Tiger Woods, one of golf’s biggest stars, has ended his partnership with Nike after 27 years. In a social media post, Woods expressed his gratitude to Nike co-founder Phil Knight for their collaboration in bringing Nike and the Nike Golf partnership together. Mark Steinberg, Woods’ agent at Excel Sports, confirmed that the deal has reached its end. Nike also posted on social media, sharing a photo with the caption, It was a hell of a round, Tiger.
World Leaders and Business Figures to Convene at Davos to Address Global Challenges
Over 60 heads of state and government, along with several business leaders, will come together at the World Economic Forum’s annual gathering in Davos, Switzerland. The event aims to tackle major global challenges, including climate change, a weak global economy, AI-powered misinformation, and ongoing conflicts. Attendees will include Israeli President Isaac Herzog, Ukrainian President Volodymyr Zelenskyy, US Secretary of State Antony Blinken, and Chinese Premier Li Qiang. The forum aims to facilitate cooperation and collaboration among key figures to explore opportunities for addressing pressing global issues.
