-
AI's hunger for power sparks US private gas plant boom
-
Farage vs Count Binface: What to know about UK snap poll
-
Memphis AI data center fuels pollution fight in Black neighborhood
-
Torment of Afghan fathers as daughters deprived of education
-
Ceuta leader wants migrant detention centre after influx
-
Return of displaced Syrian Kurds to hometown suspended after violence
-
Colombia scrambles to find survivors as quake kills 111
-
Swiatek races past Shnaider into Toronto semi-finals
-
Rain postponements wreck Montreal Masters schedule
-
Meta pushes global AI vision amid race with OpenAI, Anthropic and China
-
Notts Forest owner Marinakis sues Palace over gun banner - reports
-
US judge ends graft case against India's Adani
-
Koech gets three-year ban, stripped of US 1,500m title
-
Anderson retires after 10 MLB seasons after 'too much pain'
-
Sensational Ingebrigtsen back with more European gold
-
Colombia in state of emergency as quake kills 111
-
'A scare': Brazil player leaps into tunnel in joy over goal
-
Britain's Amy Hunt wins European women's 100m gold
-
USA Swimming CFO Hilliard arrested for alleged theft
-
Trump order pushes for overhaul of childhood vaccine schedule
-
Trump insists Netanyahu relationship 'very good' despite Gaza rift
-
Global stocks mixed while oil prices jump on Hormuz
-
Ingebrigtsen delivers masterclass for seventh European athletics gold
-
Turkey MPs back historic law on reintegrating Kurdish militants
-
Colombia declares state of emergency after quake kills 111
-
'Dreams disappear' as Gaza students await evacuation to Italy
-
Golden relay double for Britain at Europeans as Marchand takes silver
-
Third European gold for Schilder in women's shot put
-
Barcelona's Araujo heads to Liverpool on loan
-
Golden relay double for Britain at Europeans as Marchand settles for silver
-
Tupac Shakur murder trial begins 30 years after rapper's death
-
US had hottest month on record in July
-
Russia bars only anti-war party from elections
-
Colombia quake leaves 69 dead, with more trapped under rubble
-
Boeing to divest tech ventures for stake in air-taxi startup
-
Bookmap Announces Partnership with Plus500 to Expand Futures Trading Access
-
Major quake rocks Colombia and neighbors, 18 confirmed dead
-
Barcelona turn down PSG offer for Torres
-
Brazil aircraft maker Embraer raises outlook after record revenue
-
Buildings collapse as major quake rocks Colombia and neighbors
-
Drought forces water restrictions across nearly 70 percent of France
-
Meta releases new AI model as Zuckerberg lays out vision
-
Europe wary as gas stocks languish at lows while winter looms
-
OFunded Enters the Prop Trading Market With Broker-Backed Infrastructure From OFinancial Markets
-
Freedom Holding Corp. Reports 40% Increase in Quarterly Revenue to $732.5 Million
-
What next for beleaguered FIFA president Infantino?
-
Stocks mostly flat with focus on US inflation
-
Greece contains new wind-driven fire near Athens
-
UK radio broke rules in announcing king's death: watchdog
-
Massive shake-up of Hungary media after Orban's exit
Boeing chief to acknowledge 'serious missteps' at US Senate hearing
The head of US aerospace giant Boeing will on Wednesday tell senators that the company has made "serious missteps in recent years" and commit to restoring consumer and investor confidence, according to an advance copy of his remarks.
On the eve of the hearing before the Senate Commerce, Science and Transportation Committee, Kelly Ortberg sent a message to the company's 160,000 employees saying his testimony would be key "to restore trust" in the crisis-plagued manufacturer.
"Boeing has made serious missteps in recent years -- and it is unacceptable," Ortberg will say, according to the prepared remarks, which the company made public Tuesday.
Boeing has suffered for several years from production quality problems, with the latest major incident in January last year involving an Alaska Airlines 737 seeing a door plug fly off mid-flight.
In January, it reported a loss of $3.9 billion as the company continued to experience a hit from a more than seven-week labor strike that shuttered two major assembly plants.
Ortberg took over in August, and will testify on Boeing's restructuring efforts.
"We have made sweeping changes to the people, processes, and overall structure of our company," he will say. "While there is still work ahead of us, these profound changes are underpinned by the deep commitment from all of us to the safety of our products and services."
In his message to employees, he said "we are starting to turn the corner in our recovery," although he added that turning the company around would take "time and action."
Ortberg will acknowledge two 737 MAX 8 crashes in October 2018 and March 2019, which killed a total of 346 people -- some of whose relatives are expected at the committee hearing on Wednesday.
He will offer a "pledge to make the necessary changes so this never happens again."
Boeing has acknowledged that the design of its MCAS stall protection software contributed to the accidents, which occurred on new aircraft shortly after takeoff.
Ortberg will testify that the aircraft manufacturer is implementing a new Safety Management System (SMS) that is "a framework built on proven aviation industry best practices, to proactively identify and manage safety risks that may impact our commercial and defense products."
J.Bergmann--BTB