Emirates Boss Urges Boeing to Review Mistakes

A Boeing 787-10 Dreamliner taxis past the Final Assembly Building at Boeing South Carolina in North Charleston, South Carolina, United States, March 31, 2017. REUTERS/Randall Hill/File Photo Purchase Licensing Rights
A Boeing 787-10 Dreamliner taxis past the Final Assembly Building at Boeing South Carolina in North Charleston, South Carolina, United States, March 31, 2017. REUTERS/Randall Hill/File Photo Purchase Licensing Rights
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Emirates Boss Urges Boeing to Review Mistakes

A Boeing 787-10 Dreamliner taxis past the Final Assembly Building at Boeing South Carolina in North Charleston, South Carolina, United States, March 31, 2017. REUTERS/Randall Hill/File Photo Purchase Licensing Rights
A Boeing 787-10 Dreamliner taxis past the Final Assembly Building at Boeing South Carolina in North Charleston, South Carolina, United States, March 31, 2017. REUTERS/Randall Hill/File Photo Purchase Licensing Rights

Emirates Airline President Tim Clark on Sunday challenged Boeing to review things that had gone wrong, predicting that the fallout from a recent industrial and safety crisis could last as long as five years.

"I think we have a five-year hiatus on our hands," he told reporters in Dubai.

He also expected industry policies around turbulence and seatbelts would become more conservative after one person died and dozens were injured on a Singapore Airlines flight hit by turbulence last month.

Tim Clark told reporters in Dubai that Emirates was using artificial intelligence-based systems in a bid to better predict where turbulence might occur.

This came as US planemaker Boeing is engulfed in a sprawling safety crisis, exacerbated by a January mid-air panel blowout on a near new 737 MAX plane.
CEO Dave Calhoun is due to leave the company by the end of the year as part of a broader management shake-up, but Boeing has not yet named a replacement.
"It is not for me to say who should be running Boeing. But I think an understanding of what went wrong in the past, that's very important," IATA Director General Willie Walsh told Reuters TV at an airlines conference in Dubai, adding that Boeing was taking the right steps.
IATA represents more than 300 airlines or around 80% of global traffic.
"Our industry benefits from learning from mistakes, and sharing that learning with everybody," he said, adding that this process should include "an acknowledgement of what went wrong, looking at best practice, looking at what others do".



Trump Win Ignites Crypto Frenzy that Sends Bitcoin to Record High

Trump Win Ignites Crypto Frenzy that Sends Bitcoin to Record High
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Trump Win Ignites Crypto Frenzy that Sends Bitcoin to Record High

Trump Win Ignites Crypto Frenzy that Sends Bitcoin to Record High

The price of bitcoin hit a new high Wednesday and crypto-related shares rallied as investors bet that former President Donald Trump's victory in the US presidential election will be a boon for cryptocurrencies.

Bitcoin jumped nearly 8% in early trading, climbing above $75,000 and smashing its previous record set in March. Other cryptocurrencies also soared, including ether, the world's second most popular cryptocurrency after bitcoin, which rallied 8%.

Another token, dogecoin, rocketed as much as 18%. It's the favorite cryptocurrency of billionaire Elon Musk, one of Trump's most prominent supporters, The AP reported.

Crypto-related shares outran the rest of the stock market. Coinbase, one of the biggest cryptocurrency exchanges, leaped 17%. Online brokerage Robinhood Markets, which offers crypto trading, soared 12% and MicroStrategy, which says it is the “largest corporate holder of bitcoin,” jumped 10%.

Trump was previously a crypto skeptic but changed his mind and embraced cryptocurrencies ahead of the election.

He has pledged to make America "the crypto capital of the planet" and create a “strategic reserve” of bitcoin. His campaign accepted donations in cryptocurrency and he courted crypto fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies.

Bitcoin is up 77% this year.

“Bitcoin is the one asset that was always going to soar if Trump returned to the White House," said Russ Mould, investment director at AJ Bell, a British online investment platform. After touching its new high, the market is now speculating about “when, not if, it will smash through $100,000," he said.

“Trump has already declared his love of the digital currency and crypto traders now have a new narrative by which to get even more excited about where the price could go,” Mould said.

But other experts warned of the risks.

“Investors should only dabble in crypto with money that they can be prepared to lose,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown. “Because we’ve seen these wild swings in the past.”

Crypto industry players welcomed Trump's victory, in hopes that he would be able to push through legislative and regulatory changes that they've long lobbied for.

Trump had already promised that, if elected, he would remove the chair of the Securities and Exchange Commission, Gary Gensler, who has been leading the US government’s crackdown on the crypto industry.

“Tonight the crypto voter has spoken decisively — across party lines and in key races across the country,” said Coinbase CEO Brian Armstrong . “Americans disproportionately care about crypto and want clear rules of the road for digital assets. We look forward to working with the new Congress to deliver it,” Armstrong posted on X.

Streeter said Trump's administration would most likely pursue “light touch regulation” for the crypto industry.

“Certainly that’s what crypto fans would want," she said. “They want the sheen of legitimacy to be brought to crypto, but they don’t want regulations to be too onerous to stop opportunities and innovation.”