Bloomberg - Evening Briefing - Another blow to Boeing

Bloomberg Evening Briefing

United Airlines is no longer counting on Boeing’s largest 737 Max model as the planemaker’s manufacturing miscues threaten further delay of an aircraft already years behind schedule. While the carrier hasn’t canceled its order for the Max 10, United has removed it from its internal plans, Chief Executive Officer Scott Kirby said Tuesday. The company will “be working on what that means exactly with Boeing,” he said. The comments highlight the expanding fallout of the 737 crisis after a safety accident involving another version of the plane led to the grounding of all Max 9 jets this month and inspections of an earlier model. Analysts have said the heightened scrutiny from US safety regulators could delay the certification of the Max 10 and another yet-to-debut variant, the smaller Max 7. 

Here are today’s top stories

India’s stock market capitalization has overtaken Hong Kong’s for the first time as the former’s growth prospects and policy reforms make it an investor darling just as global capital pours out of China. The combined value of shares listed on Indian exchanges reached $4.33 trillion as of Monday’s close, versus $4.29 trillion for Hong Kong, according to data compiled by Bloomberg. That makes India the fourth-biggest equity market globally

China’s boldest plan yet to stem the current stock market rout is facing a lot of skepticism as disillusioned investors say any rebound will prove fleeting without a fundamental fix to the economy. A rare mix of positive news including a stabilization fund in the works and Premier Li Qiang’s order to calm markets sent equity benchmarks rallying Tuesday. However, China’s history of botched market rescue efforts, the grim state of its economy and uncertainties over Beijing’s long-term policy roadmap are keeping investors skeptical about the sustainability of those gains

Toyota Motor Corp. Chairman Akio Toyoda says he believes battery electric vehicles will reach at most 30% market share, with the rest taken up by hybrids, hydrogen fuel cell and fuel-burning cars. With a billion people in the world living without electricity, limiting their choices and ability to travel by making expensive cars isn’t the answer, he said. “Customers—not regulations or politics—should make that decision,” Toyoda said.

Akio Toyoda  Photographer: Kiyoshi Ota/Bloomberg

The Biden administration is preparing an executive order that seeks to prevent foreign adversaries from accessing troves of highly sensitive personal data about Americans and people connected to the US government, according to a document obtained by Bloomberg News. The White House sees the exploitation of such data by other countries as an “unusual and extraordinary threat” to national security and foreign policy. By accessing Americans’ highly sensitive data, “countries of concern” can engage in malicious activities, such as espionage, cyberattacks and blackmail, providing a strategic advantage over the US, the document said.

A far-reaching plan to channel Europe-Asia trade through the Middle East is at risk of stalling before it even gets started. The Israel-Hamas war has halted progress on what’s known as the India-Middle East-Europe Economic Corridor—a project touted last year by Washington and key allies that envisages building new rail links across the Arabian peninsula. As Houthi attacks disrupt Red Sea shipping and turmoil spreads across the region, IMEC is effectively on ice. That’s a big setback for US strategy.

Turkey’s parliament approved Sweden’s accession to NATO after months of deliberations, leaving Hungary as the lone holdout to the defense alliance’s northern enlargement. The parliament plenary in Ankara voted to accept Sweden’s application on Tuesday, sending the document back to President Recep Tayyip Erdogan for a final signoff.

Nearly two years since Russia launched its war on Ukraine, the conflict which has claimed tens of thousands of Ukrainian lives has reached a critical phase. Bloomberg’s Editorial Board writes that the failure of the US and Europe to approve additional aid has left Ukraine perilously low on weaponry, ammunition and manpower. With Russian leader Vladimir Putin showing no signs of relenting, Western governments are openly considering another option: seizing frozen Russian state assets and giving the proceeds to Ukraine. The idea of making Russia pay for its aggression with its own assets has undeniable moral and practical appeal, the editors write. But while embarking on a long and contested process to seize Russian assets may allow leaders to claim they’re doing something, it won’t help save Ukraine.

Rescue workers at the scene of a Russian missile strike in Kharkhiv, Ukraine, on Jan. 23. Source: State Emergency Service of Ukraine

What you’ll need to know tomorrow

Greenwich Struggles to Run Its Nursing Home

Even for one of the wealthiest municipalities in the US, operating a nursing home is a strain. Greenwich, Connecticut, owns a 121-year-old nursing home. That makes it unusual, since only 5% of nursing homes are government-owned. The town is atypical in other ways. With one of the highest per-capita incomes in the country, it has long been a locus of wealth and celebrity, evident in services such as three marinas and a public golf course designed by architect Robert Trent Jones Sr. Its Nathaniel Witherell nursing home, however, like many such facilities across the country, is losing money.

Greenwich Avenue in Greenwich, Connecticut Photographer: Michael Nagle/Bloomberg

Older messages

Haley takes her shot

Monday, January 22, 2024

Bloomberg Evening Briefing View in browser Bloomberg With Florida Governor Ron DeSantis gone, Nikki Haley pressed her attack on Donald Trump's age and mental fitness over the weekend as she seeks

Stormy skies

Saturday, January 20, 2024

Bloomberg Weekend Reading View in browser Bloomberg US Secretary of State Antony Blinken's plane breakdown as he sought to leave Davos this week was perhaps a fitting emblem for the dramas rippling

Record-breaking Friday

Friday, January 19, 2024

Bloomberg Evening Briefing View in browser Bloomberg Wall Street ended the week on a landmark note with the S&P 500 hitting a record high for the first time in two years. Fueled by hopes the

Middle East turmoil grows

Thursday, January 18, 2024

Here's today's Bloomberg Evening Briefing. View in browser Bloomberg Pakistan's military carried out targeted strikes against militant hideouts in Iran on Thursday, responding to an attack

Rate-cut hopes are fading

Wednesday, January 17, 2024

Here's today's Bloomberg Evening Briefing. View in browser Bloomberg Investors want an interest-rate cut. The Federal Reserve isn't so sure the economy needs one yet. And now traders are

You Might Also Like

AI Assistants Will Be Great (Especially for the Biggest Companies)

Friday, February 14, 2025

Plus! Short Selling; Crypto Treasury Gresham's Law; The Joy of Higher Rates; Labor Substitution; Pricing Black Swans AI Assistants Will Be Great (Especially for the Biggest Companies) By Byrne

🏈 The Super Bowl flight that upped tariffs

Friday, February 14, 2025

The US stamped 25% tariffs on key metal imports, France is coming for America's AI reputation, and chocolate tinned fish | Finimize TOGETHER WITH Hi Reader, here's what you need to know for

Why Economists Got Free Trade With China So Wrong

Friday, February 14, 2025

“The China Shock” gets revisited View this email online Planet Money “The China Shock” Revisited by Greg Rosalsky By now, many economists are hoarse screaming that higher tariffs and a trade war will

FinTech is People - Issue #508

Friday, February 14, 2025

FTW Opinions: When fintech principles shape government finance, the stakes go beyond efficiency—trust, security, and oversight are on the line ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏

Special Announcement From Harry Dent

Friday, February 14, 2025

Harry Dent February 11, 2025 Many of you have heard me talk about John Del Vecchio, one of our trusted partners at HS Dent. He runs two highly successful programs, Microcap Millions and FAST Profits,

Using AI as a Retirement Vision Board

Friday, February 14, 2025

This tool paints a picture of your financial future ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Get a life insurance quote in seconds

Friday, February 14, 2025

And get approved just as fast ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

❌ Altman dissed Musk's OpenAI bid

Friday, February 14, 2025

Musk bid nearly $100 billion for OpenAI, Europe prepared its own diss for the US, and the egg undercurrent | Finimize TOGETHER WITH Hi Reader, here's what you need to know for February 12th in 3:04

Fossicking in the dark or twenty-twenty foresight?

Friday, February 14, 2025

Rishi Khiroya and Lydia Henning If you asked people what skill they would most love to have, you might receive answers like 'to fly', 'to be invisible' or even 'predicting the

I love you(r high credit score)

Friday, February 14, 2025

plus Benson Boone + pizza perfume ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌