David's Feed
May 18, 2015

U.S. announces July hearing on Fiat Chrysler recalls

By David Morgan and Paul Lienert

(Reuters) – The Obama administration on Monday escalated its running regulatory battle with Fiat Chrysler Automobiles NV by announcing a public hearing to scrutinize how the automaker has handled 20 recalls affecting more than 10 million vehicles.

As part of a broader effort to get automakers to speed up the repair of recalled cars and trucks, the National Highway Traffic Safety Administration said FCA could face up to $700 million in fines and be required to buy back or replace vehicles if regulators find evidence that it failed in its legal recall obligations.

May 13, 2015

Amtrak crash throws spotlight on funding disputes; Republicans back cuts

WASHINGTON, May 13 (Reuters) – Republican lawmakers in the
U.S. Congress backed new spending cuts for Amtrak on Wednesday,
just hours after a deadly accident, reviving an often rancorous
debate over the public funding of America’s struggling passenger
railroad.

The Republican-controlled House of Representatives
Appropriations Committee rejected a Democratic bid to provide
Amtrak the full $2.45 billion in funds for the upcoming fiscal
year requested in President Barack Obama’s budget.

May 12, 2015

US FDA panel recommends Vertex cystic fibrosis treatment

WASHINGTON, May 12 (Reuters) – A U.S. Food and Drug
Administration advisory committee on Tuesday recommended
approval of Vertex Pharmaceuticals Inc’s combination
cystic fibrosis therapy, finding it to be safe and effective for
patients ages 12 and up.

The recommendation, which came in a 12-1 vote, will now be
considered by FDA officials who are expected to decide by July 5
whether to approve the treatment, Orkambi, for sale in the
United States. The FDA usually follows the recommendations of
its advisory panels but does not have to.

May 6, 2015

FAA in partnerships to test beyond-line-of-sight drones

WASHINGTON (Reuters) – The Federal Aviation Administration said it would work with two private U.S. companies to test commercial drones that can fly beyond an operator’s line of sight, a precursor to sophisticated drone operations such as package delivery.

The separate partnerships, with drone makers PrecisionHawk and BNSF Railway Co, owned by Warren Buffett’s Berkshire Hathaway Inc, are a potential milestone in developing unmanned aircraft for a variety of business applications.

May 6, 2015

China drone maker DJI wins backing from Silicon Valley investor

WASHINGTON (Reuters) – Chinese drone maker SZ DJI Technology Co Ltd has secured one of its largest investments yet from a Silicon Valley venture capital firm that was an early backer of Internet pioneers such as Facebook Inc, Etsy Inc and Dropbox.

The Shenzhen-based company, a global leader in selling commercial and recreational drones, said on Wednesday that Palo Alto, California-based Accel Partners had agreed to invest $75 million in the company to help fund its expansion.

May 4, 2015

Five U.S. aircraft landed at wrong airports since 2012: NTSB

WASHINGTON (Reuters) – Five U.S. aircraft, including a Southwest Airlines Boeing 737 and an Atlas Air Boeing 747 cargo plane, landed at the wrong airports in recent years due to preventable air traffic control errors, U.S. safety experts said on Monday.

While no injuries were reported in the incidents, which occurred from July 2012 to November 2014, the National Transportation Safety Board (NTSB) recommended changes to U.S. air traffic control procedures to avoid future problems, which can involve aircraft landing on shorter-than-expected runways – sometimes at night.

May 1, 2015

FAA considers beyond-line-of-sight drone initiatives: sources

WASHINGTON (Reuters) – U.S. aviation regulators are talking to drone makers and service providers about testing commercial drones that can fly beyond an operator’s visual line of sight, currently banned for safety reasons, according to people with knowledge of the discussions.

The potential partnerships between the Federal Aviation Administration and industry would be a milestone in developing unmanned aircraft that could be used for a variety of business applications such as delivering packages, monitoring crops or inspecting energy transmission pipelines.

May 1, 2015

U.S. FAA considers beyond-line-of-sight drone initiatives-sources

WASHINGTON, May 1 (Reuters) – U.S. aviation regulators are
talking to drone makers and service providers about testing
commercial drones that can fly beyond an operator’s visual line
of sight, currently banned for safety reasons, according to
people with knowledge of the discussions.

The potential partnerships between the Federal Aviation
Administration and industry would be a milestone in developing
unmanned aircraft that could be used for a variety of business
applications such as delivering packages, monitoring crops or
inspecting energy transmission pipelines.

Apr 28, 2015

U.S. auto safety regulator poised for action on Takata, Jeep recalls

WASHINGTON (Reuters) – The National Highway Traffic Safety Administration expects to be ready to take action within two weeks to accelerate product recalls to reduce the safety risks associated with gas tank fires in older Jeep sport utility vehicles and exploding Takata Corp (7312.T: Quote, Profile, Research, Stock Buzz) airbags, the agency’s top official said on Tuesday.

NHTSA Administrator Mark Rosekind told reporters that he expects agency staff to present a plan of options in each case early next month and vowed to be as aggressive as possible to minimize dangers posed by the deadly defects.

Apr 23, 2015

Boeing CEO warns of job relocations if U.S. Ex-Im Bank disappears

WASHINGTON (Reuters) – Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz) may have to relocate U.S.-based engineering and manufacturing jobs overseas if Congress eliminates funding for the U.S. Export-Import Bank, Chief Executive Jim McNerney said on Thursday.

“Most of my engineering and manufacturing jobs are in the United States and I’d like to keep it that way. But without Ex-Im financing, you’d have to start asking the question” about where they should be, McNerney said at a conference sponsored by the U.S. export credit agency.

    • About David

      "David Morgan has covered news from Wall Street and Fleet Street to the White House, the Pentagon and Congress, including politics, macroeconomics, military affairs, corporate finance, U.S. intelligence, national security and the international markets. He has also reported from Atlanta on the rise of American conservatism, civil rights, homegrown terrorism and the Olympics, and helped chronicle the Sept. 11 attacks and their aftermath from Philadelphia, New York and Washington."
    • Follow David