Target to limit purchases of hand sanitizer, disinfecting wipes – The Boston Globe

AVIATIONEthiopian investigators blame March 2019 crash on Boeing 737 Max design flaws

Ethiopian investigators have concluded that the March 2019 crash of an Ethiopian Airlines flight was caused by design flaws in the Boeing 737 Max plane and not by the performance of the airline or its pilots, adding to the scrutiny of the jet model that has been involved in two recent deadly crashes. An interim report released Monday by the Ethiopian Aircraft Accident Investigation Bureau comes almost exactly a year after Ethiopian Airlines Flight 302 went down shortly after departing Addis Ababa, killing all 157 people on board. The crash occurred five months after a similar Max owned by Lion Air of Indonesia crashed minutes after takeoff, killing 189 people. Although several factors have been cited in the two crashes, malfunctions related to automated software known as MCAS were listed as key in both accidents. A Boeing spokesman said Monday that the company continued to extend our heartfelt sympathies to the families and loved ones of Ethiopian Airlines Flight 302. The Indonesian report cited a number of factors, including aircraft design, the flight crews response and a lack documentation on the planes flight and maintenance history. In Ethiopias case, investigators found that the aircraft had a valid certificate of airworthiness, had no known technical problems before departure, and had weight and balance within the operating limits. But they said faulty sensor readings and automatic commands that did not appear on the flight crew operation manual had left the crew unable to control the plane, resulting in the fatal crash. The report also said Boeings reliance on a single sensor for the 737 Max made it vulnerable to undesired activation. NEW YORK TIMES

The worlds wealthiest family moved $48 billion of Walmart Inc. stock to a different holding company in an action that may signal future share sales and bolster their philanthropy. Walton Enterprises LLC, the main investment entity of the retailers founding clan, transferred about 15 percent of Walmarts outstanding shares to the Walton Family Holdings Trust, according to regulatory filings last week. The shift of 415 million shares represented about 29 percent of the shares held by Walton Enterprise. This entity now owns about 1 billion shares. BLOOMBERG NEWS

Facebook Inc. named two new directors, appointing Tracey Travis, chief financial officer of Este Lauder Cos., and longtime McKinsey & Co. executive Nancy Killefer at a time when the boards role at the social media company is under intense scrutiny. The addition of the two women, announced in a statement Monday, makes Facebooks board 40 percent female. The directors are joining the technology giant at a time of turmoil, as regulators and lawmakers question whether the company has monopoly powers and whether its advertising business relies too much on users personal data. BLOOMBERG NEWS

Apple Inc.s iPhone shipments plunged more than 60 percent last month, according to official Chinese data, as the coronavirus forced the technology giant to close stores in the worlds largest smartphone market. Shipments dropped to about 494,600 units from year-earlier levels, according to Bloomberg calculations based on monthly data from the China Academy of Information and Communications Technology, a government think tank. Chinas February overall mobile phone shipments slid 56 percent year-on-year to 6.4 million units, said CAICT. Apple has been reopening its retail stores in China, trying to rebound from a sales hit tied to the coronavirus. Towards the end of last month, 29 of 42 stores in the country had resumed operations. BLOOMBERG NEWS

Aon agreed to buy Willis Towers Watson in an almost $30 billion transaction that combines the worlds second- and third-biggest insurance brokerages. The all-stock deal, the largest ever for the industry, comes almost exactly a year after previous talks between the two companies broke down. Aon chief executive Greg Case and chief financial officer Christa Davies will lead the combined company, according to a statement Monday. Brokerages, which help connect businesses looking for coverage with insurers, have been aggressively merging to diversify, boost commissions, and serve customers who increasingly want to deal with fewer intermediaries. Marsh & McLennan Cos.. the largest broker, bought Jardine Lloyd Thompson Group last year for $5.7 billion. Willis Towers was itself formed in 2016 in an $8.9 billion merger. BLOOMBERG NEWS

A Stanford University professor and stem cell pioneer whose first job in science paid $25 a month is poised to receive a $191 million windfall from the sale of the immunotherapy biotech firm he cofounded. Irv Weissman, 80, owns 4.2 percent of Forty Seven, which Gilead Sciences agreed to buy for about $4.9 billion, a remarkable amount considering the companys market value was less than $250 million just five months ago. Forty Seven is named for a molecule found on healthy and cancerous cells that emits a dont eat me signal that allows cells to go undetected by the immune system. Working in their Stanford lab, Weissman, fellow founder Ravindra Majeti, and Siddhartha Jaiswal identified the role of CD47 proteins in the progression of cancer stem cells into a more malignant form. BLOOMBERG NEWS

US natural gas terminal developer Tellurian Inc. has cut roughly 40 percent of its workforce in a massive restructuring effort aimed at slashing costs and rescuing a struggling, $29 billion export project. The Houston-based company founded by shale gas pioneer Charif Souki laid off as many as 70 workers, according to people familiar with the situation. The company could also put off a final decision on whether to build the Driftwood liquefied natural gas export terminal in Louisiana by 12 to 18 months, said one of the people, who asked to not be identified because the information isnt yet public. BLOOMBERG NEWS

View original post here:
Target to limit purchases of hand sanitizer, disinfecting wipes - The Boston Globe