Boeing is to plead guilty to a criminal fraud conspiracy charge to resolve a US investigation into two fatal 737 MAX crashes.An official at the US Department of Justice (DoJ) revealed overnight that Boeing would pay a $243.6m (£190.1m) fine and invest at least $455m (£355m) over three years to strengthen its safety and compliance programmes as part of the plea deal. The settlement, which Boeing acknowledged but did not comment on, marks the second time the planemaker has been offered a plea bargain by the d ...

Spirit AeroSystems was a company little-known outside the aviation industry until January this year.Then, however, the fuselage maker was flung into the spotlight when a Boeing 737 MAX jet operated by Alaska Airlines suffered a mid-air blow-out of a door plug. Spirit, whose operation in Wichita, Kansas, had made the fuselage for the jet, saw its shares plunge by as much as 20% and found the quality of its work coming under heavy scrutiny as Boeing scrambled to convince regulators and customers that its airc ...

Core Viewpoint - Meta's plans to use public posts from Facebook and Instagram users in the UK and EU for AI training have been delayed due to legal challenges, particularly from the Irish Data Protection Commission [1][2]. Group 1: Legal Challenges and Delays - Meta is facing 11 legal challenges in Europe regarding its intention to use user data for AI training [1]. - The Irish Data Protection Commission requested a delay in training large language models, which Meta's privacy policy director described as "disappointing" [1]. - Meta hopes to resolve the delay over the summer [1]. Group 2: User Rights and Notifications - Users in the EU and UK are protected by strict data protection laws and have the right to object to their data being used [2]. - When plans resume, users will be notified via email or notification, allowing them to object before implementation [2]. - Meta is currently directing users to a form to express their objections, which will be reviewed in accordance with data protection laws [4]. Group 3: Impact on AI Launch - The delay in using local data has also postponed the release of Meta AI in Europe, as the company aims to provide a comparable experience to users in other regions [5]. - Meta's global engagement director emphasized the importance of including local information to avoid offering a "second-rate experience" [5].

Just one week ago, Nvidia became the world's most valuable company.The chipmaker - whose shares had risen nine-fold since the end of 2022 - overtook Microsoft as its stock market valuation reached $3.34trn. Since then, the shares have fallen by 13%, declining in each of the last three trading sessions.That has been enough to clip more than $500bn from Nvidia's stock market valuation reached when, last Thursday, the shares hit an all-time intra-day high of $140.76 each (taking into account the 10-for-one sha ...

Microsoft has regained the title of the world's most valuable public company just days after it was overtaken by one of its rivals.Computer chip maker Nvidia lost its hold on the top spot after its shares slipped by 3.5% in the US on Thursday, leaving the company valued at $3.2trn (£2.5trn). Microsoft's shares also dipped slightly, but it still ended the day's trading worth $3.3trn (£2.6trn).Nvidia, Microsoft and Apple are now in a three-horse race for the top spot, while they are also battling to become th ...

Core Viewpoint - Boeing faces a potential fine of nearly $25 billion and criminal proceedings related to two fatal 737 MAX 8 crashes, as argued by relatives of the victims, who label it the "deadliest corporate crime in US history" [1][3] Group 1: Legal and Regulatory Issues - The US Department of Justice (DoJ) has filed a case against Boeing for breaching a 2021 deferred prosecution agreement, which had previously shielded the company from criminal prosecution [1][2] - Boeing agreed to pay $2.5 billion to resolve investigations into its conduct and to compensate victims' families following the crashes in 2018 and 2019 [1] - Relatives of the victims are urging the Texas court to dismiss the deferred prosecution agreement, asserting that a maximum fine exceeding $24 billion is legally justified [3] Group 2: Recent Incidents and Investigations - A recent incident involving a Boeing 737 MAX 9 operated by Alaska Airlines, which experienced a mid-air panel blowout, has prompted multi-agency investigations, including by the DoJ [2] - The MAX 8 fleet was grounded for 20 months following the Ethiopian Airlines Flight 302 disaster in March 2019, which resulted in the deaths of all 157 on board [2] Group 3: Corporate Governance and Management Changes - A significant management shake-up is underway, with both the CEO and chairman set to depart, amid ongoing regulatory scrutiny and production limitations affecting Boeing's earnings [4] - Boeing's share price has decreased by one-third in the year to date, reflecting the impact of regulatory actions and production challenges [4] Group 4: Safety and Quality Concerns - The CEO defended Boeing's safety record during a Senate hearing, denying claims that the company prioritized profits over safety, while expressing condolences to the families of crash victims [5] - A whistleblower report has raised allegations of defective parts being used in 737 variant aircraft, with claims that Boeing attempted to conceal evidence from the Federal Aviation Administration (FAA) [5][6]

Core Viewpoint - Nvidia has become the most valuable public company in the world, surpassing Microsoft and Apple, with a market valuation exceeding $3.3 trillion, driven by its dominance in the AI and GPU markets [1][10]. Company History - Nvidia was founded in 1993 by Jensen Huang and two friends, initially focusing on creating computer chips for realistic 3D graphics in video games [2][4]. - The name "Nvidia" combines "NV" for "next version" and "Invidia," the Latin word for envy, reflecting the company's ambition to outpace competitors [2][3]. Product Development - Nvidia specialized in graphics processing units (GPUs), which became essential for rendering images in video games, distinguishing itself from competitors focused on central processing units (CPUs) [4][6]. - The company's early success included the GeForce graphics card and becoming the exclusive graphics provider for Microsoft's first Xbox [6][7]. Strategic Shifts - Nvidia recognized the potential of GPUs beyond gaming, marketing them for various tech applications and investing heavily in artificial intelligence (AI) in the 2010s [7][9]. - The company established itself in the automotive sector, providing driver-assistance software, with its hardware now present in all Tesla vehicles [7][10]. Market Position - Nvidia's early investments in AI positioned it as a leader in the market, controlling over 80% of the technology used in AI systems [10][11]. - The company's market valuation surged, reaching $2 trillion in February and surpassing Apple to become the most valuable company [10][11]. Recent Developments - Nvidia's stock price increased significantly, adding over $100 billion to its market value in a single day, driven by high demand for its products amid a supply shortage [11][12]. - Analysts noted that while Nvidia currently leads the market, competition is expected to intensify as companies like Microsoft invest heavily in AI [12].

McDonald's is ending its AI drive-thru trial after customers reported errors in their orders - including bacon being added to ice cream. The fast food chain's AI ordering system, developed by IBM, uses voice recognition to process orders and has been rolled out at more than 100 McDonald's locations in the US since 2021. However, the technology's reliability has been called into question in recent months, with members of the public sharing videos of order mix-ups on social media.As well as topping a dessert ...

Microsoft has been dramatically toppled as the world's most valuable public company.Nvidia, which had only overtaken Apple for the number two spot earlier this month, dethroned Microsoft during trading on Tuesday as its shares rose by more than 3%. The stock has risen more than 170% this year given the chipmaker's leading position in the artificial intelligence (AI) race with 80% of the processor market.Money latest:Big inflation moment forecast for tomorrowThe latest upwards move took its market value to $ ...

Tesla Cybertruck buyers have been reporting delivery delays due to an issue with the vehicle's windscreen wipers.Tesla's Cybertruck is a stainless steel electric vehicle that costs between $57,390 (£45,170) and $96,390 (£75,870). Owners pre-order it directly from Tesla and then wait for it to be delivered.Over the weekend, however, buyers waiting for their delivery were told the trucks were delayed by at least a week because of a problem with the windscreen wipers, according to posts on Reddit and a cybertr ...