Business

The New York Times reports: Boeing on Monday fired its chief executive, Dennis A. Muilenburg. It said Dave Calhoun, the chairman, would replace Mr. Muilenburg, on Jan. 13. Until then, Boeing’s chief financial officer, Greg Smith, will serve as interim chief executive, the company said. Boeing said in a statement that its board of directors “decided that a change in …

The Associated Press reports: The message to Boeing Co. from the Federal Aviation Administration was clear: The grounded 737 Max won’t get approval to fly again anytime soon. So the company had little choice but to idle the giant factory where the plane is made. Boeing announced Monday that it will suspend production of the Max starting sometime in January, …

The New York Times reports: As scrutiny of Purdue Pharma’s role in the opioid epidemic intensified during the past dozen years, its owners, members of the Sackler family, withdrew more than $10 billion from the company, distributing it among trusts and overseas holding companies, according to a new audit commissioned by Purdue. The amount is more than eight times what …

CNN reports: The Hallmark Channel is reversing its decision to pull advertisements featuring same-sex couples and apologizing for removing them in the first place, a network spokeswoman told CNN Business. The decision comes after Hallmark parent company Crown Media Family Networks faced calls for viewers and advertisers to boycott its television channel. The ads, from online wedding planning company Zola, …

The Wall Street Journal reports: The U.S. and China have reached a preliminary agreement in their long-running trade war, President Trump and China’s Vice Minister of Commerce Wang Shouwen said in separate statements Friday. Mr. Trump tweeted that the two sides had agreed “to a very large Phase One Deal with China,” adding that the 25% tariffs on Chinese imports …

Bloomberg News reports: Americans are projected to fall seriously behind on their credit card bills at the highest rate in a decade as banks push a record number of people to get plastic. The share of credit card borrowers who are at least 90 days past due on their accounts will probably tick up to 2.01% next year, the highest …

NBC News reports: Amazon says President Donald Trump launched “behind-the-scenes attacks” against the company, which led to it losing out on a major contract for cloud services. In a heavily redacted, 103-page document made public Monday, Amazon Web Services lays out why it’s protesting the Department of Defense’s decision to award Microsoft the JEDI (Joint Enterprise Defense Infrastructure) contract. AWS …

CBS News reports: Amazon is coming to New York City after all. The company is planning to open up an office space in the new Hudson Yards neighborhood on the west side of Manhattan. The office will reportedly be a base for 1,500 employees in the consumer and advertising departments. The announcement comes after a tumultuous fight earlier in the …

NPR reports: Utility giant Pacific Gas and Electric announced a $13.5 billion settlement agreement to resolve all claims associated with several Northern California wildfires that killed dozens of people and destroyed thousands of businesses and homes. The wildfires have been tied to the company’s equipment. “We want to help our customers, our neighbors and our friends in those impacted areas …

The BBC reports: A UK diver wants $190 million in damages from Elon Musk for a tweet calling him “pedo guy”, a US court has heard. Vernon Unsworth, who helped rescue 12 boys trapped in a Thai cave last year, is suing Mr Musk for defamation. He asked a jury in a Los Angeles federal court to award him $150 …

Axios reports: New data from the National Youth Tobacco Survey show that 6.2 million middle school and high school students use tobacco, the highest level since 2000. Why it matters: Tobacco use among middle schoolers and high schoolers remains high thanks to the popularity of e-cigarettes. Health advocates and some states are blaming misleading advertising, media and inconspicuous vape devices …

Bloomberg News reports: Potato processors are rushing to buy supplies and ship them across North America in order to keep French fries on the menu after cold, wet weather damaged crops in key producers in the U.S. and Canada. Cool conditions started to hit growing regions in October, lashing potatoes with frost. Farmers in Alberta and Idaho were able to …

The Associated Press reports: This year’s Black Friday was the biggest ever for online sales, and Adobe Analytics says carts filled on phones, computers and tablets rang up $7.4 billion in transactions. That ranks just behind the $7.9 billion haul of last year’s Cyber Monday, which holds the one-day record for online sales. Adobe measures sales at 80 of the …

The New York Times reports: In the world of e-commerce, the online review is king, the internet’s answer to walking into a store and trying out a product for yourself. An increase of just one star in a rating on Amazon correlates with a 26 percent increase in sales, according to a recent analysis by the e-commerce consulting firm Pattern. …

Law & Crime reports: Thomas Bowers, identified as a former Deutsche Bank executive who signed off on controversial loans to President Donald Trump, died last week after apparently taking his own life at 55. According to Forensic News‘ Scott Stedman, “One source who has direct knowledge of the FBI’s investigation into Deutsche Bank said that federal investigators have asked about …

Bloomberg reports: Dollar Tree Inc. shares fell the most intraday since 2012 after the budget retailer trimmed its outlook on 2019 profit, saying tariffs on Chinese imports are driving up costs. Dollar Tree’s decline has erased much of its year-to-date gain. Dollar Tree’s downward revision shows the risk that the ongoing U.S.-China trade war poses for retailers — especially value-based …

Business Insider reports: Papa John’s former CEO slammed the pizza chain he founded in an interview with local news. “I’ve had over 40 pizzas in the last 30 days,” John Schnatter told WDRB News. “And it’s not the same pizza. It’s not the same product. It just doesn’t tastes as good.” Schnatter resigned as Papa John’s chairman in 2018, after …

Reuters reports: Tesla Inc’s chief executive, Elon Musk, will testify in his own defense against a defamation lawsuit brought by a British cave explorer, Musk’s lawyer said on Monday in U.S. District Court in Los Angeles. Vernon Unsworth is suing Musk for calling him a “pedo guy.” Musk posted the tweet after Unsworth accused Musk in a CNN interview of …

The Guardian reports: Uber has lost its licence to operate private hire vehicles in London after authorities found that more than 14,000 trips were taken with more than 40 drivers who had faked their identity on the Uber app. Transport for London announced the decision not to renew the ride-hailing firm’s licence at the end of a two-month probationary extension …

The Washington Post reports: Tesla has received 146,000 preorders for its all-electric Cybertruck, chief executive Elon Musk said Saturday, two days after the futuristic vehicle’s grand reveal went viral when its supposedly unbreakable windows shattered onstage. With an angular design, a stainless steel “exoskeleton” and an overall look that some fans have called “post apocalyptic,” the Cybertruck stands out from …