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FAA moves to support growth of civil supersonic air industry

FAA moves to support growth of civil supersonic air industry
WASHINGTON (Reuters) – The U.S. Federal Aviation Administration (FAA) said on Monday it is moving to rewrite testing rules to allow for the eventual return of civil supersonic air travel. FILE PHOTO: Daniel Elwell, acting administrator of the Federal Aviation Administration, testifies during the House Transportation and Infrastructure Committee Aviation Subcommittee hearing on “Status of the Boeing 737 MAX” on... Read More

U.S. firms say China tariffs will raise costs, with few sourcing alternatives

U.S. firms say China tariffs will raise costs, with few sourcing alternatives
WASHINGTON (Reuters) – A broad range of U.S. companies told a hearing in Washington on Monday that they have few alternatives other than China for producing clothing, electronics, and other consumer goods as the Trump administration prepares 25% tariffs on remaining U.S.-China trade. FILE PHOTO: A “Made in USA” label is pictured on the back of a tie Medford, Massachusetts... Read More

Billionaire Patrick Drahi snaps up Sotheby’s in $3.7 billion deal

Billionaire Patrick Drahi snaps up Sotheby’s in $3.7 billion deal
PARIS/BOSTON (Reuters) – Patrick Drahi, the billionaire behind telecoms and media group Altice, agreed on Monday to buy Sotheby’s in a deal worth $3.7 billion, marking the storied art auction house’s return to private ownership after 31 years. FILE PHOTO: Employees take telephone bids during a contemporary art day auction at Sotheby’s in London, Britain, October 6, 2017. REUTERS/Toby Melville/File... Read More