Tariff jitters...Boeing safety alert problem...Deadly Illinois plant explosion
NEW YORK (AP) — New jitters over the possibility of an escalation in the costly trade war between the U.S. and China pulled stocks broadly lower. The sell-off, which eased toward the end of the day Monday, came a day after President Donald Trump threatened to raise tariffs on goods from China. Trump complained that the trade talks are moving too slowly. Companies with heavy business interests in China bore the brunt of the selling. The Dow fell 66 points.
BEIJING (AP) — By threatening to raise taxes on Chinese imports, President Donald Trump is throwing down a challenge to Beijing: Agree to sweeping changes in China’s government-dominated economic model — or suffer the consequences. The unexpected ultimatum was delivered via tweets on Sunday and Monday. It shook up financial markets that had expected the world’s two biggest economies to resolve a year-long standoff over trade, perhaps by the end of the week. A Chinese delegation is due to resume talks Wednesday in Washington.
NEW YORK (AP) — Boeing says it didn’t tell pilots and airlines that a safety alert on its 737 Max jets was not working until after one of the planes crashed in Indonesia last year. The safety alert, called an “angle of attack” (AOA) indicator, tells pilots if a sensor is transmitting bad data and was designed to warn pilots about the kind of sensor malfunction that occurred in the crash in Indonesia and another in Ethiopia. It had been operational in previous 737s, but were switched off in the 737 Max.
WAUKEGAN, Ill. (AP) — Search and rescue personnel have located and are recovering the body of a third employee killed in the explosion and fire at an Illinois silicone plant. A fire official in Waukegan says the body was located Sunday afternoon and personnel are in the process of recovering it. One more body is believed to be located in the rubble of the AB Specialty Silicones plant, which was destroyed by the massive explosion and fire Friday night. He says that personnel still have about half of the building left to search.
PARIS (AP) — French telecom giant Orange and seven former or current managers are on trial in a case involving 19 employee suicides and 12 suicide attempts over three years. Managers deny wrongdoing. The company, then known as France Telecom, and the managers are accused of moral harassment and other charges. The trial that opened Monday initially involved 39 employees with mental health problems or who killed themselves as the company was undergoing major job cuts and restructuring a decade ago.