Business Briefs – April 7, 2019

Report on Ethiopian Crash Ratchets Up Pressure on Boeing

NEW YORK (AP) — A preliminary report on the Ethiopian Airlines crash last month has ratcheted up pressure on Boeing, the aircraft maker that critics say has put profits before safety. The Ethiopian government report found that pilots of the plane that crashed last month followed all the steps recommended by Boeing after the same model plane crashed in Indonesian waters last year. But several questions remain, and final reports are not expected for months.

Meanwhile, Boeing said Friday that starting in mid-April it will cut production of the plane to 42 from 52 planes per month so it can focus its attention on fixing the flight-control software that has been implicated in the crashes.

Elon Musk, SEC Told to Meet For At Least 1 Hour About Tweets

DETROIT (AP) – A federal judge in New York is ordering Tesla CEO Elon Musk and U.S. securities regulators to meet for at least an hour to try and settle a dispute over Musk’s tweets. Judge Alison Nathan also told both sides Friday to send her a letter by April 18 saying whether they have reached a deal.

Trump’s Pick to Head The World Bank Wins Election

WASHINGTON (AP) – David Malpass, the Treasury official nominated by President Donald Trump to head the 189-nation World Bank, has won election to the post. The World Bank says Malpass was approved unanimously by the bank’s 25-member board on Friday.

U.S. Consumer Borrowing Gains Slow in February

WASHINGTON (AP) – Consumer borrowing rose at a slower pace in February as the increase in auto and student loans was the slowest in eight months. The Federal Reserve reports that borrowing increased by $15.2 billion in February, down from a gain of $17.7 billion in January.