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U.S. says Boeing 737 MAX 8 airworthy but will act on any safety concern

WASHINGTON (Reuters) - The United States will tell international carriers later Monday that the Federal Aviation Administration believes the Boeing 737 MAX 8 is airworthy as they scrutinize two fatal crashes of the new model of aircraft since October but emphasized they will “take immediate action” if regulators identify any safety issue. An Ethiopian Airlines MAX 8 bound for Nairobi crashed minutes after take-off on Sunday, killing all 157 aboard and raising questions about the safety of the new variant of the industry workhorse, one of which also crashed and killed 189 people in Indonesia in October. U.S. Transportation Secretary Elaine Chao said on Monday the FAA…

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Wall Street snaps five-day losing streak despite Boeing’s drop

NEW YORK (Reuters) - U.S. stocks jumped on Monday as the technology sector led a broad-based rebound following five straight sessions of losses, but a fall in Boeing’s shares limited the Dow’s advance after a deadly airline crash in Ethiopia. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 11, 2019. REUTERS/Brendan McDermidBoeing Co, the world’s largest planemaker and best-performing Dow component this year by a wide margin, ended down 5.3 percent at $400.01, registering its biggest one-day percentage drop since Oct. 29, after many airlines grounded the company’s new 737 MAX 8 passenger jet following the second fatal…

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Venezuelan blackout hits oil exports, residents scramble for food

CARACAS/SAN CRISTOBAL, Venezuela (Reuters) - Much of Venezuela, including parts of the capital Caracas, remained without power on Monday for a fifth day, crimping vital oil exports and leaving people struggling to obtain water and food. President Nicolas Maduro, who has blamed the unprecedented blackout on sabotage by the United States at Venezuela’s Guri hydroelectric dam, ordered the suspension of classes and the working day, as he had on Friday. Sources in the oil sector, OPEC member Venezuela’s main source of foreign earnings and a vital generator of revenue for Maduro’s government, said that exports from the primary port of Jose had been halted by the blackouts.…

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Pelosi: ‘I’m not for impeachment’ – Washington Post

Speaker of the House Nancy Pelosi addresses guests at an event hosted by the Economic Club of Washington in Washington, U.S., March 8, 2019. REUTERS/Kevin LamarqueWASHINGTON (Reuters) - No effort should be made to impeach President Donald Trump unless the reasons are overwhelming and bipartisan, given how divisive it would be for the country, U.S. House Speaker Nancy Pelosi said in a Washington Post interview published on Monday. “I’m not for impeachment,” Pelosi, the top U.S. Democrat, said in the interview, which was conducted last week. “Impeachment is so divisive to the country that unless there’s something so compelling and overwhelming and bipartisan, I don’t think we…

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Islamic State enclave pounded in U.S.-backed assault

BAGHOUZ, Syria (Reuters) - Islamic State’s final enclave in eastern Syria was pounded with air strikes and artillery on Monday in a U.S.-backed assault aimed at wiping out the last shred of its territorial rule that once spanned a third of Syria and Iraq. Flares are seen in the sky during fighting in the Islamic State's final enclave, in the village of Baghouz, Deir Al Zor province, Syria March 11, 2019. REUTERS/Rodi SaidFierce clashes could be heard as air strikes and artillery targeted the enclave at Baghouz near the Iraqi border, where the U.S.-backed Syrian Democratic Forces (SDF) launched their assault on Sunday, a Reuters journalist in…

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Theresa May seeks a deal in Strasbourg as Brexit crunch looms

LONDON/BRUSSELS (Reuters) - Prime Minister Theresa May rushed to Strasbourg on Monday to seek a tweaked withdrawal deal from the European Union in a last-ditch effort to avoid another humiliating defeat in parliament of her plan to exit the bloc. Just 18 days before the United Kingdom is due to leave the EU, there is still no ratified divorce deal and talks with the bloc stalled over the weekend as May was unable to break the political deadlock in London. In a day of frenetic diplomacy ahead of a Tuesday parliamentary vote on her deal, May met European Commission President Jean-Claude Juncker in Strasbourg in an effort…

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Trump budget boosts military and border wall, targets social programs

WASHINGTON (Reuters) - President Donald Trump on Monday called for spending more money on the military and a U.S.-Mexico border wall while overhauling social programs for the poor in a budget plan that sets the stage for his next fight with the U.S. Congress. The Republican president’s $4.7 trillion budget was immediately panned by Capitol Hill Democrats, who blocked his push for a border wall during a standoff last year that led to a five-week partial shutdown of the federal government. Like past presidential budget proposals, Trump’s plan was highly unlikely to become law, especially with Democrats in control of the House of Representatives. But it does…

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Stocks surge in broad rally, Treasury yields rise

NEW YORK (Reuters) - Global equity markets surged on Monday, lifted by talk of more stimulus from China and by a broad rally on Wall Street that overcame a plunge in Boeing shares after one of its newest jets crashed, while U.S. debt yields rose on improved risk appetite. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 11, 2019. REUTERS/Brendan McDermidChina’s main bourses clawed back almost half the 4 percent they lost on Friday as the country’s central bank chief pledged billions of dollars of cuts to taxes and fees to shore up an economy growing at its…

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Trump budget proposes steep subsidy cuts to farmers as they grapple with crisis

WASHINGTON (Reuters) - President Donald Trump’s 2020 budget on Monday proposed a 15 percent cut for the U.S. Department of Agriculture, calling its subsidies to farmers “overly generous” at a time when they are going through the worst crisis in decades because of depressed commodity prices and Trump’s trade tariffs. Aides place copies of Volume 1 of U.S. President Donald Trump's budget for Fiscal Year 2020 on a table after it was delivered by the Office of Management and Budget (OMB) to the House Budget Committee room on Capitol Hill in Washington U.S., March 11, 2019. REUTERS/Kevin LamarqueThe Republican president’s budget requested $20.8 billion for the USDA,…

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Tesla Scales Back Store Closings but Will Raise Prices

Just days after announcing that it would close most of its stores, Tesla said late Sunday that it had decided to keep “significantly more stores open” than previously announced. The electric-car maker also said it would raise most of its vehicle prices about 3 percent worldwide.The flip-flop on the fate of the sleek stores is the latest move by the upstart company that for a time was the most highly valued American car company, but which is now facing financial pressures.In the last three months of 2018, Tesla opened 27 sales and service locations to keep up with rising demand for its mass-market electric car, the Model…

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