Boeing CEO Dave Calhoun to step down
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Boeing CEO Dave Calhoun will step down at the end of the year. Calhoun will continue to lead Boeing through the end of 2024. The move comes amid fallout from a high-profile safety failure onboard an Alaska Airlines flight in January. Board Chair Larry Kellner plans to forgo nomination for an additional term. Steve Mollenkopf will immediately take over as Boeing board chair and lead the search for a new chief executive. Calhoun began his tenure in the aftermath of a previous safety scandal involving the grounding of Boeing 737 Max aircraft. The renewed scrutiny over the incident includes an investigation by a federal safety regulator and a criminal investigation by the Department of Justice. Calhoun called on the company to focus on openness and a total commitment to safety and quality. This is a developing story.

#Boeing #DaveCalhoun #Ceo #Resignation #SafetyFailure #AlaskaAirlines #737Max #LarryKellner #SteveMollenkopf

https://abcnews.go.com/Business/boeing-ceo-dave-calhoun-step/story?id=108465621 

 US commerce secretary hails progress at year's first meeting of Indo-Pacific trade grouping
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U.S. Commerce Secretary Gina Raimondo praised the progress made by the 14 countries in the Indo-Pacific Economic Framework for Prosperity after the group held a ministerial meeting to discuss proposed guidelines for regional commerce. The Indo-Pacific Economic Framework was launched in May 2022 and its members include Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, the United States, and Vietnam. The group aims to advance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness. Raimondo commended progress on documents setting guidelines for supply chain, clean economy, and fair economy measures. However, the statement did not mention progress on the trade pillar. The next top-level meeting of the group is scheduled to take place in Singapore on June 6.

#UsCommerceSecretary #Indo-pacificEconomicFramework #RegionalCommerce #Trade #SupplyChains #CleanEconomy #FairEconomy #Asia #Singapore

https://abcnews.go.com/International/wireStory/us-commerce-secretary-hails-progress-years-meeting-indo-108117052 

 Suspect arrested in murder of pregnant Amish woman
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Shawn Cranston, 52, was arrested in connection with the murder of Rebekah Byler, 23, Pennsylvania State Police announced early Saturday morning. The arrest was made on March 4, 2024.

#Murder #Arrest #Amish #Pennsylvania

https://abcnews.go.com/GMA/News/video/suspect-arrested-murder-pregnant-amish-woman-107766879 

 Stock market today: Asia stocks track Wall Street gains, Japan shares hit record high
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Japanese stocks set a record high after U.S. stocks climbed to all-time highs. Tokyo's Nikkei 225 jumped 1.9% and ended at 39,940.00. Japan's unemployment rate dropped to 2.4% in January. China's manufacturing activity contracted for the fifth consecutive month in February. Investors are anticipating policies to revitalize the economy at China's upcoming National People's Congress. The S&P 500 rose 0.5% to 5,096.27, the Nasdaq composite gained 0.9% to 38,996.39, and the Dow Jones Industrial Average rose 0.1% to 38,996.39. Yields eased after an inflation report showed prices rose as expected. The Federal Reserve may begin cutting interest rates in June. U.S. benchmark crude oil reached $78.50 per barrel. The U.S. dollar rose to 150.34 Japanese yen from 149.98 yen.

#StockMarket #AsiaStocks #WallStreet #JapanShares #Nikkei225 #UnemploymentRate #ManufacturingActivity #NationalPeople'sCongress #S&p500 #Inflation #FederalReserve #CrudeOil #ExchangeRates

https://abcnews.go.com/US/wireStory/stock-market-today-asia-stocks-track-wall-street-107708314 

 Consumer confidence slips in February as anxiety over potential recession surprisingly reappears
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American consumers are feeling less confident this month as concerns over a possible recession grew, despite most indicators pointing to a healthy U.S. economy. The Conference Board reported that its consumer confidence index fell to 106.7 from a revised 110.9 in January, after three straight months of improvement. The index measuring Americans' short-term expectations for income, business, and the job market fell to 79.8 from 81.5 in January, signaling a possible upcoming recession. Consumers' view of current conditions also retreated, falling to 147.2 from 154.9. The decline in consumer confidence is surprising given the resilience of the economy in the face of higher interest rates and inflation. Consumer spending accounts for about 70% of U.S. economic activity. Despite some recent high-profile layoffs, the labor market continues to churn out jobs, with U.S. employers adding 353,000 jobs in January and the unemployment rate staying at 3.7%. The Federal Reserve is expected to start cutting rates later this year to further boost the strong economy. Overall, consumers are set to benefit from declining interest rates as the Fed starts to lower the target range this year, which should be supportive of sentiment over time.

#ConsumerConfidence #Recession #U.s.Economy #EconomicIndicators #ConsumerBehavior #InterestRates #Inflation #LaborMarket #FederalReserve

https://abcnews.go.com/Business/wireStory/consumer-confidence-slips-february-anxiety-potential-recession-perked-107592019 

 Inflation expected to have slowed significantly in January
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The report from the U.S. Bureau of Labor Statistics is expected to show that inflation has slowed significantly in January. Economists expect prices to have increased 2.9% over the year ending in January, marking a slowdown from the previous month's annual pace of 3.4%. Core inflation, which excludes volatile food and energy prices, is expected to have increased 3.7% over the same period. Inflation remains above the Federal Reserve's target of 2%. The U.S. economy has defied the central bank's efforts to slow it down, with strong job growth and consumer sentiment. The Fed risks a rebound of inflation if it cuts interest rates too quickly. Fed Chair Jerome Powell has celebrated the decline of inflation but cautioned about the risks of an overheated economy.

#Inflation #Economy #FederalReserve #InterestRates #UsBureauOfLaborStatistics

https://abcnews.go.com/Business/inflation-expected-slowed-significantly-january/story?id=107155046 

 What to know about Usher and his kids following his Super Bowl performance
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Usher, the R&B legend, recently headlined the Super Bowl halftime show. He is a father of four children. Usher shares his eldest child, Usher Raymond V, with ex-wife Tameka Foster. Usher has been in a relationship with Jennifer Goicoechea since 2019, and they have two children together, Sovereign and Sire. Usher's second child with Foster is Naviyd. Sovereign is Usher's third child and the first with Goicoechea. Usher announced the birth of his youngest child, Sire Castrello Raymond, in October 2021. Sire is named after Goicoechea's grandfather, Champ Castrello.

#Usher #SuperBowl #HalftimeShow #Family #Children

https://abcnews.go.com/GMA/Family/usher-kids/story?id=107027006 

 Trump says he'd 'encourage' Russia 'to do whatever the hell they want' if a NATO country didn't spend enough on defense
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Former President Donald Trump said he wouldn't protect a NATO nation that didn't contribute enough defense funds and he'd "encourage" Russia "to do whatever the hell they want." Trump made these comments at a campaign event in Conway, South Carolina. He also falsely suggested that NATO contributions come in the form of loans. NATO leaders agreed in 2006 that member countries would commit to a minimum of 2% of their GDP for military readiness. The White House called Trump's comments "appalling and unhinged," and NATO Secretary-General Jens Stoltenberg criticized them, saying they "undermine all of our security."

#DonaldTrump #Nato #Russia #DefenseSpending

https://abcnews.go.com/Politics/trump-russia-nato-defense-funds/story?id=107136736 

 Russian politician calling for peace in Ukraine rejected as a presidential candidate
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Antiwar politician Boris Nadezhdin was rejected as a candidate in the upcoming Russian presidential election by the Central Election Commission. The rejection is seen as a signal from the Kremlin that it won't tolerate any public opposition to the invasion of Ukraine. Nadezhdin, who had gathered thousands of signatures in support of his candidacy, openly called for a halt to the war in Ukraine and for starting a dialogue with the West. President Vladimir Putin, running as an independent candidate, faces only token opposition and is expected to win a fifth term in power. Most opposition figures have been imprisoned or exiled, and independent Russian media outlets have been banned. The election commission declared that more than 9,000 signatures submitted by Nadezhdin were invalid, disqualifying him from the race. Nadezhdin plans to appeal the decision in court.

#Russia #Ukraine #PresidentialElection #Opposition #VladimirPutin

https://abcnews.go.com/International/wireStory/russian-politician-calling-peace-ukraine-rejected-presidential-candidate-107053944 

 The economic surge feels like a drag? Your state may be underperforming
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Consumer sentiment stands well below pre-pandemic levels. The U.S. economy has been performing well, but Americans remain sour. The disconnect between economic performance and sentiment may be due to elevated prices and partisan reluctance to acknowledge success under Biden. The economic performance varies between states and localities, with some facing higher expenses. The best-performing states have better-than-average unemployment, GDP growth, and gas prices. The worst-performing states, including California, New York, and New Jersey, have lower growth, higher unemployment, and higher gas prices. The variation in economic conditions across states and localities contributes to the gap between economic sentiment and performance. Attitudes about the economy have improved, but consumer sentiment remains below pre-pandemic levels. Voters prefer Trump over Biden on handling the economy. The Biden campaign touts the current state of the economy as a winning record. The variation in economic conditions across states and localities could explain the gap between economic sentiment and performance.

#Economy #ConsumerSentiment #StateEconomies #EconomicPerformance #Biden #Trump

https://abcnews.go.com/Business/economic-surge-feels-drag-state-underperforming/story?id=106997917 

 Appeals court rejects Trump's immunity claim in federal election interference case
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A three-judge panel in the U.S. Court of Appeals has rejected former President Donald Trump's claim of presidential immunity in his federal election interference case. The judges stated that for the purpose of this criminal case, Trump is considered citizen Trump and does not have immunity. Trump had sought the dismissal of the case on the grounds of absolute immunity from prosecution for actions taken while serving as president. The Supreme Court had previously denied a request to immediately take up Trump's claims of immunity, and the issue may still go before the Supreme Court depending on the appeal.

#DonaldTrump #PresidentialImmunity #FederalElectionInterference #U.s.CourtOfAppeals #SupremeCourt

https://abcnews.go.com/Politics/appeals-court-rejects-trumps-immunity-claim-federal-election/story?id=106380940 

 Stock market today: Asian stocks mostly fall as Chinese shares skid despite moves to help markets
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Asian stocks were mostly lower on Monday, with Chinese shares leading the declines. The main index in the smaller market in Shenzhen sank 5.4% but then rapidly recovered to trade 1.7% lower. The Shanghai Composite index slipped more than 2% before recovering some lost ground. U.S. futures declined and oil prices were higher. The Securities Regulatory Commission in Beijing pledged to crack down on abuses and protect small investors. Last week, Chinese stocks capped their worst week in five years. Former President said he might impose a tariff of more than 60% on imports of Chinese goods if he is re-elected. By mid-afternoon Monday, the Shanghai Composite index was down 0.2% at 2,725.54. Hong Kong's Hang Seng gained 0.6% to 15,630.63. Tokyo’s Nikkei 225 index climbed 0.6% to 36,390.31. P/ASX 200 sank 1% to 7,623.30. South Korea’s Kospi shed 0.6% to 2,599.62. On Friday, Big Tech stocks once again carried Wall Street to a record, even though the majority of stocks fell due to renewed worries about risks of a hot economy. Big gains for Meta Platforms and Amazon helped drive the S&P 500 index up by 1.1% and closed at 4,958.61. The Dow Jones Industrial Average rose by a more modest 0.3% to 38.654.42. And the Nasdaq jumped 1.7% to 15,628.95.

#StockMarket #AsianStocks #ChineseShares #MarketRegulator #Investors

https://abcnews.go.com/Business/wireStory/stock-market-today-asian-stocks-fall-chinese-shares-106948786 

 US economy adds staggering 353,000 jobs in January
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The US economy added 353,000 jobs in January, according to the U.S. Bureau of Labor Statistics. The unemployment rate remained steady at 3.7%. This is a significant increase in job growth and indicates a positive trend in the economy. The report was released on February 2, 2024.

#UsEconomy #JobGrowth #UnemploymentRate #BureauOfLaborStatistics

https://abcnews.go.com/US/video/us-economy-adds-staggering-353000-jobs-january-106900902 

 What the surprisingly strong jobs report means for inflation and interest rates
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U.S. employers hired 353,000 workers in January, nearly twice as many as expected. The unemployment rate remained at 3.7%. The strong jobs report indicates a robust and sustained recovery after the pandemic. The Federal Reserve's fight against inflation may be challenged by the strong economy. Inflation remains higher than the Fed's target rate of 2%. Interest rate cuts may be delayed due to the hot economy. The Fed risks a rebound of inflation if rates are cut too quickly. The next opportunity for the Fed to cut rates will be in March.

#JobsReport #Inflation #InterestRates #Economy #FederalReserve

https://abcnews.go.com/Business/surprisingly-strong-jobs-report-means-inflation-interest-rates/story?id=106895639 

 US jobs report for January is likely to show that steady hiring growth extended into 2024
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The US jobs report for January is expected to show that employers added 177,000 jobs, with a jobless rate of 3.8%. The job market defied predictions of a recession and instead saw strong job growth in 2023, with an average of 225,000 jobs added per month. Layoffs have not significantly impacted the overall job market, and the unemployment rate has remained below 4% for two straight years. Consumer sentiment and inflation expectations have improved, and the economy is expected to be a key factor in the 2024 presidential election. Economists predict a "January jobs boomlet" with 250,000 added jobs, driven by seasonal factors and hiring in healthcare and state/local governments. The rate of Americans quitting their jobs has slowed, suggesting less wage pressure. Hiring has slowed from previous years but remains steady, which is seen as positive by the Federal Reserve. Chair Jerome Powell indicated that rate cuts may begin later this year.

#UsJobsReport #HiringGrowth #Economy #UnemploymentRate #Inflation #PresidentialElection

https://abcnews.go.com/US/wireStory/us-jobs-report-january-show-steady-hiring-growth-106887552