Stocks end week lower…Boeing CEO to testify on 737 Max…Washington state to issue flavored vape ban


Courtesy MGN

NEW YORK (AP) _ Wall Street capped a choppy week with a second straight weekly loss for the S&P 500 Friday as worries about a potential escalation in the trade war between the U.S. and China erased early gains. Technology companies led the broad slide as investors weighed a Bloomberg report saying the Trump administration is considering ways to limit U.S. investments in China. The S&P 500 index fell 16 points, the Dow Jones Industrial Average dropped 71 and the Nasdaq lost 91.

WASHINGTON (AP) — Boeing’s CEO has agreed to testify before a congressional committee investigating the grounded 737 Max. Dennis Muilenburg will be joined at an Oct. 30 hearing by the chief engineer of Boeing’s commercial-airplanes division and its chief pilot for the 737. The House Transportation Committee has held three hearings since May on the Max, but no one from Boeing has testified. The plane has been grounded since shortly after the second of two crashes that together killed 346 people.

PARIS (AP) — France’s second-largest airline has closed down after it failed to find new investors, leaving 1,150 employees out of work. French airline Aigle Azur, which was mostly operating between France and Algeria, had filed for bankruptcy earlier this month and canceled all its flights. A French commercial court on Friday ordered the company’s closure due to the lack of a sustainable offer from bidders. Chinese conglomerate HNA Group is the company’s largest shareholder with a 49% stake.

SEATTLE (AP) — Washington is joining several other states in banning the sale of flavored vaping products amid concern over the mysterious lung illness that has sickened hundreds of people and killed about a dozen across the country. Gov. Jay Inslee signed an executive order Friday asking the state Board of Health to issue the emergency rule at its next meeting, scheduled for Oct. 9. The ban is slated to last four months but could be renewed. It will apply to products containing nicotine as well as the cannabis extract THC.

DURHAM, N.C. (AP) — Two Blue Cross Blue Shield insurers on both U.S. coasts are scrapping plans for a long-term cooperation agreement after an executive central to the deal resigned in the wake of an alleged drunken-driving crash. Blue Cross Blue Shield of North Carolina and Portland, Oregon-based Cambia Health Solutions said Friday they’re ending their request for regulatory approval. Blue Cross NC CEO Patrick Conway was to also become Cambia’s CEO, but he resigned Wednesday after details of his June crash emerged.

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