Updated Jan. 8, 2024 2:26 pm ET A burning inferno on the runway, followed four days later by a midair emergency involving a gaping hole in the side of the plane, isn’t the way the airline industry wanted to start 2024. After a fraught 2023, in which safety specialists and regulators raised alarms about mounting … Read more
Updated Jan. 6, 2024 10:31 pm ET The Federal Aviation Administration ordered a temporary grounding and immediate inspections of dozens of Boeing 737 MAX jets, after one of the planes made an emergency landing when a section of the aircraft ripped away in midair. Passengers and flight attendants described a harrowing incident during an Alaska … Read more
Medical Properties Trust, the country’s largest hospital landlord, said it would record about $350 million of write-downs related to its largest tenant, which had fallen behind on its rent, and hired a well-known restructuring adviser. MPT, which had long supported Dallas-based Steward Health Care System, said more write-downs are possible. The news, released Thursday after … Read more
Updated Jan. 3, 2024 6:23 am ET A dearth of initial public offerings in Hong Kong is causing companies to suffer cash crunches and put off expansion plans, showing how the steep market downturn is taking a toll on businesses that need to raise money. The Asian financial hub was for years the top international … Read more
Published: Jan. 1, 2024 at 6:37 p.m. ET By P.R. Venkat Baidu has called off a $3.6 billion deal to buy JOYY’s video-based entertainment live-streaming business in China. As of the end of December, the closing conditions for the share purchase agreement had yet to be fully satisfied, Baidu said in a filing late Monday. … Read more
Updated Dec. 28, 2023 12:00 am ET Listen to article (1 minute) A song called “Tomorrow Will Be Better” became a sensation in mainland China in the 1980s, when the nation was emerging from the poverty and turmoil of Mao Zedong’s rule. Its inspirational lyrics, which exhorted listeners to “look upward for the wings in … Read more
Updated Dec. 26, 2023 10:15 am ET Iran has tripled production of nearly weapons-grade uranium in a move likely to deepen its confrontation with the West as Tehran helps allied militias to attack Israel and U.S. forces in the region. Iran’s decision to triple its production rate of near-weapons-grade uranium marks the collapse of quiet … Read more
Updated Dec. 22, 2023 11:13 am ET TOKYO—Japan will provide Patriot missiles to the U.S., bolstering global stocks as Ukraine defends itself from a new wave of Russian missile attacks, the U.S. and Japanese governments said. Tokyo is set to transfer dozens of the interceptor missiles, which are used to shoot down ballistic missiles and other aerial threats, … Read more
Published: Dec. 21, 2023 at 6:13 p.m. ET By Stephen Nakrosis Industrial gas supplier Global Hydrogen Energy and blank-check company Dune Acquisition said the SPAC’s shareholders approved a deal that will see the combined company go public. Shares of the combined company, Global Gas, are expected to begin trading on the Nasdaq Capital Market under … Read more
Published: Dec. 18, 2023 at 2:27 a.m. ET By Ian Walker Unilever is selling the Elida Beauty business to Yellow Wood Partners for an undisclosed sum, as part of the company’s plan to optimize its personal care portfolio and grow its power brands. The Anglo-Dutch consumer goods company–which houses Ben & Jerry’s ice cream and … Read more