Business

Federal Investigators: Short Circuit in Boeing 787 Dreamliner’s Lithium Ion Battery Caused Fire

February 8, 2013

“Deborah Hersman, chairman of the National Transportation Safety Board, said Boeing was also incorrect in estimating a Dreamliner battery would heat up and smoke less than once in 10 million flight hours.”

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Federal Aviation Administration (FAA) Allows Boeing to Conduct More 787 Dreamliner Test Flights

February 8, 2013

“The FAA approved test flights for the Boeing planes with strict conditions to assure safety: Only essential personnel will be on board, crews must continuously monitor the plane for battery-related problems and tests will be conducted over unpopulated areas.”

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Records: Compounding Pharmacies Linked to Illness, Contamination, and Safety Concerns For Years

February 8, 2013

“The review found serious problems at three of 15 large-scale compounding pharmacies that dominate the industry. These multimillion-dollar companies mass-produce medications and ship them across state lines.”

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New York Attorney General Launches Investigation into Standard & Poor’s, Moody’s Investors Services, and Fitch Ratings

February 7, 2013

“However, it isn’t clear if Mr. Schneiderman would be able to proceed with any legal action related to crisis-era ratings because of a 2008 agreement his predecessor made with the firms.”

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Boeing 787 Dreamliner Test Flight Lands Safely in Seattle

February 7, 2013

“A top federal safety official says the government should reconsider its approval of the kind of batteries used in the Boeing 787 Dreamliner because they can explode into fires, a specter that manufacturer testing did not pick up.”

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Microsoft Advertising Campaign Criticizes Google’s GMail Over Privacy Concerns

February 7, 2013

“The campaign touts Microsoft’s email platform, Outlook.com, as much more privacy-friendly and amounts to a big bet for the Windows-maker: As people learn more about Google’s practices, they’ll flee to Microsoft in droves.”

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TransCanada CEO Urges the U.S. State Department to Approve Keystone XL Pipeline Permits

February 7, 2013

“During a visit to Washington, TransCanada chief executive Russ Girling also said that his company was exploring other routes to get the Canadian oil to world markets, including a possible retrofit of a natural gas pipeline to eastern Canada.”

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U.S. Judge Dismisses Iraq Lawsuit Over the United Nations Oil For Food Scandal Under

February 7, 2013

“U.S. District Judge Sidney Stein in Manhattan said the government of Iraq could not recover damages and other remedies under an anti-racketeering law because most of the wrongful conduct took place in foreign countries.”

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National Transportation Safety Board: Solution to Boeing 787 Battery Problems Weeks Away

February 7, 2013

“The 787 is the first airliner to make extensive use of lithium batteries. Aircraft makers view lithium batteries, which are lighter and can store more energy than other types of batteries of an equivalent size, as an important way to save on fuel costs.”

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City of Philadelphia: Maker of Yuengling Beer Owes $6.6 Million in Back Taxes

February 7, 2013

“The city filed a lawsuit in the Court of Common Pleas on Jan. 30, saying Pottsville-based D.G. Yuengling & Son Inc. has failed to pay business-related taxes, fees and penalties since December 2008.”

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Irish Parliament Passes Emergency Legislation to Liquidate Anglo Irish Bank, a Bailout Recipient

February 7, 2013

“Under the plan the bank, now the IBRC, will cease to exist. Its debt will be transformed into a long-term bond. The scheme is designed to ensure the repayments are reduced and spread over a longer period.”

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Boeing Exploring Battery Design Changes to Minimize Fire Risks in Boeing 787 Dreamliner Planes

February 7, 2013

“Boeing is looking at changes within the 787′s lithium-ion battery to keep heat or fire from spreading, though technical details have not yet been finalized or approved, the Wall Street Journal reported, citing unnamed government and industry officials.”

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Federal Aviation Administration (FAA) Allowing One Crew-Only Flight to Continue Investigating Battery Fires

February 6, 2013

“Federal regulators said Wednesday that they had approved one flight of a Boeing 787, with a flight crew but no passengers, as the company’s engineers study possible changes to the plane’s electrical systems that could reduce the risks of another battery fire.”

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Health Insurance Companies Preparing For 2014 ObamaCare Regulations

February 6, 2013

“Insurers will have to offer a policy to anyone who wants one, regardless of their health, and will not be allowed to charge more in premiums to people with expensive medical conditions.”

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Royal Bank of Scotland Agrees to Pay $612 Million Settlement to American and British Authorities

February 6, 2013

“The [U.S.] regulator, the Commodity Futures Trading Commission, noted that R.B.S. employees “aided and abetted” UBS and other firms in the rate-rigging scheme.”

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