Russia’s hack into the US election was surprisingly inexpensive, Mueller report shows

Beginning in March 2016, units of Russia’s military intelligence unit known as GRU hacked the computers and email accounts of organizations, employees and volunteers supporting the Clinton presidential campaign, including the email account of campaign chairman John Podesta, the Mueller report said. The Russian group also hacked the computer networks of the Democratic Congressional Campaign Committee (DCCC) and the Democratic National Committee (DNC). The spoof website might ask for personal deta


Beginning in March 2016, units of Russia’s military intelligence unit known as GRU hacked the computers and email accounts of organizations, employees and volunteers supporting the Clinton presidential campaign, including the email account of campaign chairman John Podesta, the Mueller report said. The Russian group also hacked the computer networks of the Democratic Congressional Campaign Committee (DCCC) and the Democratic National Committee (DNC). The spoof website might ask for personal deta
Russia’s hack into the US election was surprisingly inexpensive, Mueller report shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: arjun kharpal, tom williams, cq roll call, getty images
Keywords: news, cnbc, companies, mueller, campaign, inexpensive, election, including, gru, shows, email, able, person, software, network, spearphishing, russias, hack, website, surprisingly, report


Russia's hack into the US election was surprisingly inexpensive, Mueller report shows

Beginning in March 2016, units of Russia’s military intelligence unit known as GRU hacked the computers and email accounts of organizations, employees and volunteers supporting the Clinton presidential campaign, including the email account of campaign chairman John Podesta, the Mueller report said.

The Russian group also hacked the computer networks of the Democratic Congressional Campaign Committee (DCCC) and the Democratic National Committee (DNC).

Initially, the GRU employed a hacking technique known as spearphishing. That’s when a hacker sends an email to a person that contains something like a link to a fake website or an attachment. When a person clicks that link or downloads that document, it could lead to malicious software being installed on that person’s computer or mobile device. The spoof website might ask for personal details about a person, which could include passwords to certain services they use.

Once the hackers were into the DCCC network after a successful spearphishing attempt, they were also able to get into the DNC network. From there, they implanted malicious software, which was able to log keystrokes, take screenshots, and gather other data about the infected computers. In this way, the GRU was able to steal thousands of documents from the Democrat campaign, including emails, which ended up on various online platforms including WikiLeaks.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: arjun kharpal, tom williams, cq roll call, getty images
Keywords: news, cnbc, companies, mueller, campaign, inexpensive, election, including, gru, shows, email, able, person, software, network, spearphishing, russias, hack, website, surprisingly, report


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Russia’s hack into the US election was surprisingly inexpensive, Mueller report shows

Beginning in March 2016, units of Russia’s military intelligence unit known as GRU hacked the computers and email accounts of organizations, employees and volunteers supporting the Clinton presidential campaign, including the email account of campaign chairman John Podesta, the Mueller report said. The Russian group also hacked the computer networks of the Democratic Congressional Campaign Committee (DCCC) and the Democratic National Committee (DNC). The spoof website might ask for personal deta


Beginning in March 2016, units of Russia’s military intelligence unit known as GRU hacked the computers and email accounts of organizations, employees and volunteers supporting the Clinton presidential campaign, including the email account of campaign chairman John Podesta, the Mueller report said. The Russian group also hacked the computer networks of the Democratic Congressional Campaign Committee (DCCC) and the Democratic National Committee (DNC). The spoof website might ask for personal deta
Russia’s hack into the US election was surprisingly inexpensive, Mueller report shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: arjun kharpal, tom williams, cq roll call, getty images
Keywords: news, cnbc, companies, software, website, inexpensive, hack, shows, report, campaign, gru, mueller, network, spearphishing, person, email, russias, able, election, surprisingly, including


Russia's hack into the US election was surprisingly inexpensive, Mueller report shows

Beginning in March 2016, units of Russia’s military intelligence unit known as GRU hacked the computers and email accounts of organizations, employees and volunteers supporting the Clinton presidential campaign, including the email account of campaign chairman John Podesta, the Mueller report said.

The Russian group also hacked the computer networks of the Democratic Congressional Campaign Committee (DCCC) and the Democratic National Committee (DNC).

Initially, the GRU employed a hacking technique known as spearphishing. That’s when a hacker sends an email to a person that contains something like a link to a fake website or an attachment. When a person clicks that link or downloads that document, it could lead to malicious software being installed on that person’s computer or mobile device. The spoof website might ask for personal details about a person, which could include passwords to certain services they use.

Once the hackers were into the DCCC network after a successful spearphishing attempt, they were also able to get into the DNC network. From there, they implanted malicious software, which was able to log keystrokes, take screenshots, and gather other data about the infected computers. In this way, the GRU was able to steal thousands of documents from the Democrat campaign, including emails, which ended up on various online platforms including WikiLeaks.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: arjun kharpal, tom williams, cq roll call, getty images
Keywords: news, cnbc, companies, software, website, inexpensive, hack, shows, report, campaign, gru, mueller, network, spearphishing, person, email, russias, able, election, surprisingly, including


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Wall Street calls Tesla’s autonomous plan ‘half-baked,’ doubts it can beat Lyft, Nvidia and Google

Tesla CEO Elon Musk touted robotaxis by 2020 on “Tesla Autonomy Investor Day,” and Wall Street was not impressed. However, analysts believe the technology is still far from ready and it puts Tesla at a risky position to compete with leaders in ride-hailing and software industries. The event came two days before Tesla is scheduled to report first-quarter earnings. The stock has fallen 21% year to date amid the company’s legal woes, disappointing deliveries and slowing demand. Here’s what else ana


Tesla CEO Elon Musk touted robotaxis by 2020 on “Tesla Autonomy Investor Day,” and Wall Street was not impressed. However, analysts believe the technology is still far from ready and it puts Tesla at a risky position to compete with leaders in ride-hailing and software industries. The event came two days before Tesla is scheduled to report first-quarter earnings. The stock has fallen 21% year to date amid the company’s legal woes, disappointing deliveries and slowing demand. Here’s what else ana
Wall Street calls Tesla’s autonomous plan ‘half-baked,’ doubts it can beat Lyft, Nvidia and Google Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: yun li, frederic j brown, afp, getty images
Keywords: news, cnbc, companies, google, software, technology, robotaxis, doubts, osborne, teslas, investor, nvidia, halfbaked, tesla, plan, musk, street, wall, calls, ridehailing, legal, leaders, lyft


Wall Street calls Tesla's autonomous plan 'half-baked,' doubts it can beat Lyft, Nvidia and Google

Tesla CEO Elon Musk touted robotaxis by 2020 on “Tesla Autonomy Investor Day,” and Wall Street was not impressed.

At the company event Monday, Musk was all too confident about carrying out autonomous robotaxis next year, even predicting that Tesla will be making cars with no steering wheels or pedals by 2021. However, analysts believe the technology is still far from ready and it puts Tesla at a risky position to compete with leaders in ride-hailing and software industries.

“We see a significant amount of technology and execution risk in the shift in strategy from competing in just electrification to Tesla also beating Nvidia in hardware, Google in software, and building a better ride-hailing service than current ride hailing leaders,” Cowen’s analyst Jeffrey Osborne said in a note on Tuesday.

“The Tesla Network robotaxi plans seemed half baked, with the company appearing to either not have answers to or not even considered pretty basic question on the pricing, insurance liability, or regulatory and legal requirements,” Osborne added.

The event came two days before Tesla is scheduled to report first-quarter earnings. Shares of Tesla are down 0.5% in morning trading on Tuesday. The stock has fallen 21% year to date amid the company’s legal woes, disappointing deliveries and slowing demand.

Here’s what else analysts are saying about Tesla’s Autonomy Investor Day:


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: yun li, frederic j brown, afp, getty images
Keywords: news, cnbc, companies, google, software, technology, robotaxis, doubts, osborne, teslas, investor, nvidia, halfbaked, tesla, plan, musk, street, wall, calls, ridehailing, legal, leaders, lyft


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Zoom CEO Eric Yuan worth $3 billion after IPO

Not even Eric Yuan’s closest friends, oldest advisers and earliest investors thought Zoom needed to exist. It was 2011, and the market was littered with videoconferencing systems from Google, Skype, GoToMeeting and Cisco, where Yuan had been leading WebEx’s engineering team. Following Zoom’s stock market debut on Thursday, the company is valued at $15.9 billion. Thousands of businesses use Zoom’s software, with many taking advantage of the free product alongside 344 companies that pay over $100,


Not even Eric Yuan’s closest friends, oldest advisers and earliest investors thought Zoom needed to exist. It was 2011, and the market was littered with videoconferencing systems from Google, Skype, GoToMeeting and Cisco, where Yuan had been leading WebEx’s engineering team. Following Zoom’s stock market debut on Thursday, the company is valued at $15.9 billion. Thousands of businesses use Zoom’s software, with many taking advantage of the free product alongside 344 companies that pay over $100,
Zoom CEO Eric Yuan worth $3 billion after IPO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: ari levy, kena betancur, getty images, source, -santi subotovsky, partner at emergence capital, zoom investor
Keywords: news, cnbc, companies, software, eric, stock, ipo, free, market, worth, zooms, yuan, zoom, ceo, billion, company, videoconferencing


Zoom CEO Eric Yuan worth $3 billion after IPO

Not even Eric Yuan’s closest friends, oldest advisers and earliest investors thought Zoom needed to exist. It was 2011, and the market was littered with videoconferencing systems from Google, Skype, GoToMeeting and Cisco, where Yuan had been leading WebEx’s engineering team.

“He came to a market that everybody said was done,” said Dan Scheinman, Cisco’s former head of corporate development who’s now an angel investor and Zoom board member. “He was competing with free and some pretty big incumbents.”

Yuan, who emigrated from China to Silicon Valley in 1997 at age 27, says the problem with those products is that nobody enjoys using them, adding that the buggy code he wrote for WebEx two decades ago is still running today. As a software engineer with multiple patents related to real-time collaboration, he also knew that our smartphones and tablets could do so much more with videoconferencing than what was available.

So Yuan ignored the skeptics and instead listened to users. His wager is paying off.

Following Zoom’s stock market debut on Thursday, the company is valued at $15.9 billion. The stock climbed 72% in its first day of trading to $62, after the company raised $356.8 million in its IPO.

Zoom’s rich valuation — about 48 times sales — is a reflection of 118% revenue growth in 2018 coupled with an unusual quality for an emerging software company: profit. Thousands of businesses use Zoom’s software, with many taking advantage of the free product alongside 344 companies that pay over $100,000 a year.

Yuan, who owns 20% of the shares, is tech’s newest billionaire, with a stake worth about $2.9 billion.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: ari levy, kena betancur, getty images, source, -santi subotovsky, partner at emergence capital, zoom investor
Keywords: news, cnbc, companies, software, eric, stock, ipo, free, market, worth, zooms, yuan, zoom, ceo, billion, company, videoconferencing


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Zoom prices IPO at $36 per share, valuing videoconferencing company at $9.2 billion: Source

Videoconferencing company Zoom priced its IPO at $36 a share, above of its already increased range and valuing the business at $9.2 billion. CNBC reported earlier on Wednesday that the company would price at the top end of the increased range — $33 to $35 — and possibly above it. Sales jumped 118 percent last year to $330.5 million, and the company reported net income of $7.58 million. At $36 a share, the company has an enterprise value to sales ratio of 27.5, which among cloud software companie


Videoconferencing company Zoom priced its IPO at $36 a share, above of its already increased range and valuing the business at $9.2 billion. CNBC reported earlier on Wednesday that the company would price at the top end of the increased range — $33 to $35 — and possibly above it. Sales jumped 118 percent last year to $330.5 million, and the company reported net income of $7.58 million. At $36 a share, the company has an enterprise value to sales ratio of 27.5, which among cloud software companie
Zoom prices IPO at $36 per share, valuing videoconferencing company at $9.2 billion: Source Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: leslie picker, ari levy, courtesy of zoom video communications
Keywords: news, cnbc, companies, price, 92, software, uber, range, valuing, videoconferencing, ipo, company, source, billion, trading, share, zoom, tech, prices


Zoom prices IPO at $36 per share, valuing videoconferencing company at $9.2 billion: Source

Videoconferencing company Zoom priced its IPO at $36 a share, above of its already increased range and valuing the business at $9.2 billion.

Zoom, which is slated to start trading on Thursday on the Nasdaq, had originally given a pricing range of $28 to $32, but investor demand was so high for the profitable, fast-growing company, that the offering ended up well above that mark. CNBC reported earlier on Wednesday that the company would price at the top end of the increased range — $33 to $35 — and possibly above it.

Founded in 2011 by former Webex head engineer Eric Yuan, Zoom has surged in popularity in a crowded market by providing software that works easily across devices and by groups ranging from small teams to large enterprises. Sales jumped 118 percent last year to $330.5 million, and the company reported net income of $7.58 million.

Investors are paying up for growth. At $36 a share, the company has an enterprise value to sales ratio of 27.5, which among cloud software companies, trails only Zscaler’s ratio of 30.7, according to FactSet.

Zoom will be one of the first big tech IPOs of the year and is scheduled to start trading around the same time as social media company Pinterest. Ride-hailing company Lyft was the first 2019 tech IPO to hit the market last month, but the stock has failed to hold up as larger rival Uber prepares to sell shares in the coming weeks. While Lyft is 17 percent below its IPO price, PagerDuty, the only other notable software share sale of the year, is up 67 percent from its offer price last week.

In addition to Uber, investors are also gearing up for the debut of Slack, which is expected to take the unconventional approach of a direct listing instead of an IPO.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: leslie picker, ari levy, courtesy of zoom video communications
Keywords: news, cnbc, companies, price, 92, software, uber, range, valuing, videoconferencing, ipo, company, source, billion, trading, share, zoom, tech, prices


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Zoom prices IPO at $36 per share, valuing videoconferencing company at $9.2 billion: Source

Videoconferencing company Zoom priced its IPO at $36 a share, above of its already increased range and valuing the business at $9.2 billion. CNBC reported earlier on Wednesday that the company would price at the top end of the increased range — $33 to $35 — and possibly above it. Sales jumped 118 percent last year to $330.5 million, and the company reported net income of $7.58 million. At $36 a share, the company has an enterprise value to sales ratio of 27.5, which among cloud software companie


Videoconferencing company Zoom priced its IPO at $36 a share, above of its already increased range and valuing the business at $9.2 billion. CNBC reported earlier on Wednesday that the company would price at the top end of the increased range — $33 to $35 — and possibly above it. Sales jumped 118 percent last year to $330.5 million, and the company reported net income of $7.58 million. At $36 a share, the company has an enterprise value to sales ratio of 27.5, which among cloud software companie
Zoom prices IPO at $36 per share, valuing videoconferencing company at $9.2 billion: Source Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: leslie picker, ari levy, courtesy of zoom video communications
Keywords: news, cnbc, companies, price, 92, software, uber, range, valuing, videoconferencing, ipo, company, source, billion, trading, share, zoom, tech, prices


Zoom prices IPO at $36 per share, valuing videoconferencing company at $9.2 billion: Source

Videoconferencing company Zoom priced its IPO at $36 a share, above of its already increased range and valuing the business at $9.2 billion.

Zoom, which is slated to start trading on Thursday on the Nasdaq, had originally given a pricing range of $28 to $32, but investor demand was so high for the profitable, fast-growing company, that the offering ended up well above that mark. CNBC reported earlier on Wednesday that the company would price at the top end of the increased range — $33 to $35 — and possibly above it.

Founded in 2011 by former Webex head engineer Eric Yuan, Zoom has surged in popularity in a crowded market by providing software that works easily across devices and by groups ranging from small teams to large enterprises. Sales jumped 118 percent last year to $330.5 million, and the company reported net income of $7.58 million.

Investors are paying up for growth. At $36 a share, the company has an enterprise value to sales ratio of 27.5, which among cloud software companies, trails only Zscaler’s ratio of 30.7, according to FactSet.

Zoom will be one of the first big tech IPOs of the year and is scheduled to start trading around the same time as social media company Pinterest. Ride-hailing company Lyft was the first 2019 tech IPO to hit the market last month, but the stock has failed to hold up as larger rival Uber prepares to sell shares in the coming weeks. While Lyft is 17 percent below its IPO price, PagerDuty, the only other notable software share sale of the year, is up 67 percent from its offer price last week.

In addition to Uber, investors are also gearing up for the debut of Slack, which is expected to take the unconventional approach of a direct listing instead of an IPO.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: leslie picker, ari levy, courtesy of zoom video communications
Keywords: news, cnbc, companies, price, 92, software, uber, range, valuing, videoconferencing, ipo, company, source, billion, trading, share, zoom, tech, prices


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Activist investor Praesidium takes 5% stake in education software company Instructure

Activist investor Praesidium Investment Management said Tuesday that it’s taken a new stake in cloud-based education software company Instructure. Oram detailed the investment from 13D Monitor’s 2019 Active-Passive Investor Summit in New York. Praesidium owned about 5%, or 1.8 million shares, of Instructure as of April 15, according to the government filing. According to the company’s website, Canvas is used by more than 3,000 universities, school districts and institutions around the world. Act


Activist investor Praesidium Investment Management said Tuesday that it’s taken a new stake in cloud-based education software company Instructure. Oram detailed the investment from 13D Monitor’s 2019 Active-Passive Investor Summit in New York. Praesidium owned about 5%, or 1.8 million shares, of Instructure as of April 15, according to the government filing. According to the company’s website, Canvas is used by more than 3,000 universities, school districts and institutions around the world. Act
Activist investor Praesidium takes 5% stake in education software company Instructure Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: thomas franck, source
Keywords: news, cnbc, companies, activist, management, praesidium, software, shares, companys, education, investment, investor, canvas, company, instructure, oram, stake, changes, universities, takes


Activist investor Praesidium takes 5% stake in education software company Instructure

Activist investor Praesidium Investment Management said Tuesday that it’s taken a new stake in cloud-based education software company Instructure.

Praesidium manager Kevin Oram, who filed a 13D with the Securities and Exchange Commission on Monday, said that despite the company’s big investments in new business, its stock looks cheap. Oram detailed the investment from 13D Monitor’s 2019 Active-Passive Investor Summit in New York.

Praesidium owned about 5%, or 1.8 million shares, of Instructure as of April 15, according to the government filing. Shares were up 6.3% Tuesday afternoon.

Instructure is best known for its Canvas platform, which offers schools and universities a system through which professors and administrators can store student records, input grades and schedule courses. According to the company’s website, Canvas is used by more than 3,000 universities, school districts and institutions around the world.

Activist investors often build positions in what they view as undervalued companies with the goal of advocating for key changes, though Oram added that Praesidium typically lobbies for changes in private discussions with management.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: thomas franck, source
Keywords: news, cnbc, companies, activist, management, praesidium, software, shares, companys, education, investment, investor, canvas, company, instructure, oram, stake, changes, universities, takes


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FAA panel says Boeing 737 Max software is ‘operationally suitable’ in new report

The Federal Aviation Administration on Tuesday released its initial review of Boeing’s update to its 737 Max anti-stall software suspected of contributing to two fatal plane crashes, calling it “operationally suitable.” The draft report from the FAA’s Flight Standardization Board recommends that pilots take additional computer-based training for the MCAS automated flight system. Boeing said it’s completed 96 flights totaling over 159 hours of air time with its software fix for the Max jet. The c


The Federal Aviation Administration on Tuesday released its initial review of Boeing’s update to its 737 Max anti-stall software suspected of contributing to two fatal plane crashes, calling it “operationally suitable.” The draft report from the FAA’s Flight Standardization Board recommends that pilots take additional computer-based training for the MCAS automated flight system. Boeing said it’s completed 96 flights totaling over 159 hours of air time with its software fix for the Max jet. The c
FAA panel says Boeing 737 Max software is ‘operationally suitable’ in new report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: emma newburger, jason redmond, afp, getty images
Keywords: news, cnbc, companies, boeing, fix, max, works, wells, operationally, faa, 737, systemthe, panel, boeings, suitable, flight, company, board, report, software


FAA panel says Boeing 737 Max software is 'operationally suitable' in new report

The Federal Aviation Administration on Tuesday released its initial review of Boeing’s update to its 737 Max anti-stall software suspected of contributing to two fatal plane crashes, calling it “operationally suitable.”

The draft report from the FAA’s Flight Standardization Board recommends that pilots take additional computer-based training for the MCAS automated flight system.

The company’s shares jumped by about 2% on the news.

Boeing said it’s completed 96 flights totaling over 159 hours of air time with its software fix for the Max jet. The company is also updating airlines by bringing representatives into flight simulators and showing them the modified flight control system.

The company has stopped deliveries and has cut Max production by 20% as it works on a fix. The jets have been grounded since mid-March. Wells Fargo said Tuesday that Boeing’s troubles with the Max will reduce second-quarter GDP growth by 0.2%.

Separately, Institutional Shareholder Services on Tuesday recommended that shareholders vote in favor of a proposal that would require Boeing to have an independent chairman of the board. That title is currently held by CEO Dennis Muilenburg.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: emma newburger, jason redmond, afp, getty images
Keywords: news, cnbc, companies, boeing, fix, max, works, wells, operationally, faa, 737, systemthe, panel, boeings, suitable, flight, company, board, report, software


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United Airlines cancels all 737 Max flights through early July

United Airlines has extended cancellations of the Boeing 737 Max through early July, following similar moves by other major airlines coping with the jet’s prolonged grounding. American Airlines said Sunday it will cancel all Max flights through Aug. 19. On Friday, Southwest Airlines removed the Max jet from its schedule through Aug. 5. United had previously cancelled Max flights through June 5. The widespread cancellations come after the Max’s anti-stall software was implicated in two fatal cras


United Airlines has extended cancellations of the Boeing 737 Max through early July, following similar moves by other major airlines coping with the jet’s prolonged grounding. American Airlines said Sunday it will cancel all Max flights through Aug. 19. On Friday, Southwest Airlines removed the Max jet from its schedule through Aug. 5. United had previously cancelled Max flights through June 5. The widespread cancellations come after the Max’s anti-stall software was implicated in two fatal cras
United Airlines cancels all 737 Max flights through early July Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: emma newburger, katherine frey, the washington post, getty images
Keywords: news, cnbc, companies, widespread, united, cancellations, flights, aug, southwest, early, similar, software, airlines, 737, max, cancels


United Airlines cancels all 737 Max flights through early July

United Airlines has extended cancellations of the Boeing 737 Max through early July, following similar moves by other major airlines coping with the jet’s prolonged grounding.

American Airlines said Sunday it will cancel all Max flights through Aug. 19. On Friday, Southwest Airlines removed the Max jet from its schedule through Aug. 5. United had previously cancelled Max flights through June 5.

The widespread cancellations come after the Max’s anti-stall software was implicated in two fatal crashes in Ethiopia and Indonesia since October.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: emma newburger, katherine frey, the washington post, getty images
Keywords: news, cnbc, companies, widespread, united, cancellations, flights, aug, southwest, early, similar, software, airlines, 737, max, cancels


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American Airlines cancels all 737 Max flights through August 19

American Airlines is extending cancellations for the Boeing 737 Max aircraft through August 19, a key summer travel period, as the jets remain grounded. The cancellations amount to about 115 flights per day, roughly 1.5% of American’s total flying per day in the summer, the airline said. Boeing has slowed production and stopped deliveries as it works on a software fix. United has canceled Max flights through June 5. As major airlines continue to extend cancellations, Boeing said Thursday that it


American Airlines is extending cancellations for the Boeing 737 Max aircraft through August 19, a key summer travel period, as the jets remain grounded. The cancellations amount to about 115 flights per day, roughly 1.5% of American’s total flying per day in the summer, the airline said. Boeing has slowed production and stopped deliveries as it works on a software fix. United has canceled Max flights through June 5. As major airlines continue to extend cancellations, Boeing said Thursday that it
American Airlines cancels all 737 Max flights through August 19 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: emma newburger, shannon stapleton
Keywords: news, cnbc, companies, cancels, max, american, remain, boeing, 19, software, cancellations, travel, fix, summer, flights, 737, airlines


American Airlines cancels all 737 Max flights through August 19

American Airlines is extending cancellations for the Boeing 737 Max aircraft through August 19, a key summer travel period, as the jets remain grounded.

The cancellations amount to about 115 flights per day, roughly 1.5% of American’s total flying per day in the summer, the airline said. They come after the Max’s anti-stall software was implicated in an Ethiopian crash in March that killed 157 people.

It’s unclear when the Max, which has been grounded since mid-March, will return. Boeing has slowed production and stopped deliveries as it works on a software fix.

On Friday, Southwest Airlines removed the Max jet from its schedule through Aug. 5. United has canceled Max flights through June 5.

“We remain confident that the impending software updates, along with the new training elements Boeing is developing for the MAX, will lead to recertification of the aircraft soon,” American CEO Doug Parker and President Robert Isom wrote in a letter to employees Sunday.

Parker also said canceling the flights now will help the airline plan for its busiest travel season of the year.

As major airlines continue to extend cancellations, Boeing said Thursday that it’s completed 96 flights with the new Max software fix. The planemaker will likely submit the fix to Federal Aviation Administration regulators within the next couple weeks.


Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: emma newburger, shannon stapleton
Keywords: news, cnbc, companies, cancels, max, american, remain, boeing, 19, software, cancellations, travel, fix, summer, flights, 737, airlines


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