Leonardo Said to Drop BofA for Deutsche Bank on European Space
Leonardo SpA, the Italian defense and aerospace company, has replaced Bank of America Corp. with Deutsche Bank AG to advise on talks to forge a new European space and satellite champion, according to people familiar with the matter.
Rome-based Leonardo switched to the German bank in recent weeks, after initially hiring the US firm, said the people, asking not to be identified because discussions are confidential. One reason for the pivot was business-related around a potential conflict related to another client, some of the people said.
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CBS News
13 minutes ago
- CBS News
Primanti Bros. closes location on Penn Avenue in Pittsburgh
The Primanti Bros. location on Penn Avenue in Pittsburgh's Garfield neighborhood has closed. A company spokesperson said on Wednesday that the restaurant has closed. The spokesperson said Primanti Bros. is "focused on our four other locations within Pittsburgh city limits." "Through the normal course of business, we continually evaluate our portfolio to ensure our restaurants have the resources to achieve their growth potential," the company spokesperson said. "We have known this lease agreement was ending, and after careful consideration, we made the decision not to renew the lease." Primanti Bros. is known for its sandwiches loaded with meat, cheese, french fries and coleslaw, but it also has American classics like burgers, wings and pizza on its menu. Primanti Bros. also serves beers, liquor and signature cocktails. Primanti Bros. opened in 1933 and has grown to 42 locations, including 24 in western Pennsylvania. Primanti Bros. also has locations in Maryland, West Virginia, Ohio and central Pennsylvania. The Pittsburgh-based chain opened its first restaurant in the Baltimore area in 2024. In the past 10 years, Primanti Bros. said it has more than doubled the number of restaurants in its portfolio. "Pittsburgh's Strip District will always be our original neighborhood - but we're working every day to bring a new Primanti Bros. to yours," Primanti Bros. says on its website. The Primanti Bros. on Penn Avenue is the latest establishment to close in Pittsburgh. This week, Voodoo Brewing announced the closing of its location on the North Shore. Last week, Nakama Japanese Steakhouse and Sushi Bar on East Carson Street closed abruptly.
Washington Post
18 minutes ago
- Washington Post
This popular gunmaker persuaded N.H. lawmakers to protect it from lawsuits
A new law will shield the gunmaker Sig Sauer from being sued in its home state of New Hampshire by people who allege its pistol design is defective and has caused them injury — a victory that demonstrates the power of the firearms lobby in the face of high-profile lawsuits and calls for greater accountability. The firearms manufacturer, which is based in Newington, faces dozens of lawsuits from gun owners across the country who say their Sig Sauer P320 pistols fired without anyone pulling the trigger. The manufacturer has been sued at least 77 times in New Hampshire, according to the company, as well as in other states. A Sig Sauer lobbyist, at a New Hampshire legislature hearing in April, asked lawmakers for help to stem the lawsuits. The company has argued that the complaints were without merit and that fighting them was draining money from one of the state's largest manufacturers — which could, by extension, hurt local jobs. Weeks later, New Hampshire lawmakers granted firearms manufacturers protections in 'any product liability action' in the state from specific defect and negligence claims rising from a gun's lack of an external mechanical safety — in an amendment to a broader firearms bill that was swiftly passed and then signed by Gov. Kelly Ayotte (R) on May 23. The governor, who did not publicly comment upon the bill signing, did not respond to a request from The Washington Post. Many lawsuits against gun manufacturers are brought in federal, rather than state, courts, and one state lawmaker who is critical of the bill said he doubts the New Hampshire legislature has the power to limit federal lawsuits. But Republican state Rep. John Sellers, a co-sponsor of the bill, said it was necessary because the number of lawsuits against Sig Sauer was becoming unreasonable. 'We're trying to protect them because they're a major employer — not just Sig Sauer, but Ruger, too,' Sellers told The Washington Post, noting that Connecticut-based firearms manufacturer Ruger also operates a large facility in New Hampshire. 'We don't want to have so many lawsuits that it kills the corporation and makes it go bankrupt.' Sig Sauer did not respond to requests for comment. In 2023, The Washington Post and The Trace found that at least 80 people, including police officers, had alleged that they had been shot by their Sig Sauer P320 pistols. Many who filed lawsuits against Sig Sauer said the guns fired without having their triggers pulled, often while holstered, sending bullets into their legs, hips or groins without warning. Last year, Sig Sauer was found liable in two cases, in Pennsylvania and Georgia, in which juries awarded the plaintiffs millions. The New Hampshire provision doesn't affect the P320 cases underway in courts there, but it will limit future cases in New Hampshire against Sig Sauer by state residents — and others trying to sue there. Out-of-state residents have filed suit against Sig Sauer in New Hampshire because it is more efficient; existing rulings in the state on the P320 issue mean a plaintiff could get their case before a jury faster, according to Bob Zimmerman, a lawyer who has represented more than 70 plaintiffs in lawsuits over the issue. New Hampshire Democrats, who are the minority in both chambers, roundly decried the provision as an example of Republican lawmakers putting corporate interests over residents. New Hampshire Senate Minority Leader Rebecca Perkins Kwoka said in a statement that shielding Sig Sauer from certain lawsuits in the P320 mechanical safety issue 'could, and should, be seen as legislative malpractice.' 'No company should be immune from liability when their product is defective — especially when it comes to the issue of gun safety,' she said. 'It is our job as legislators to put forth legislation that serves to protect our citizens and support our public safety workers — rather than shield billion-dollar corporations.' During the May 22 House vote on the bill, Democratic state Rep. David Meuse said, 'I'm not here today to try to litigate whether this particular weapon is safe. What I am here to try to do is stop us from passing a bill that will prevent gun owners who believe they have been harmed by a defective, unmodified product from having their day in court — which is exactly what this bill will do.' The provision's success is striking because it disadvantages New Hampshire residents for the benefit of a local company, said David Pucino, the legal director and deputy chief counsel for gun safety research and advocacy group Giffords. '[The law] doesn't protect Sig Sauer around the country in the dozens and dozens of cases where owners have been injured,' Pucino said. 'It just injures the people in New Hampshire.' Bobby Cox, vice president of government affairs at Sig Sauer and a Republican member of the South Carolina legislature, told New Hampshire lawmakers at the April Senate Judiciary hearing that the pistol's design is not defective. 'All these cases that we've seen with these guns, the gun has never been defective,' Cox alleged. 'It's been user error; it's been equipment associated with the gun.' Cox added that the lawsuits were 'becoming detrimental' to the company and portrayed them as 'out-of-state plaintiffs' attorneys … attacking in-state business.' Plaintiffs in cases against Sig Sauer have argued that the lack of a mechanical safety on the P320 is a manufacturing defect that has caused a known issue of unintentional discharges. The company has argued in court that the unintentional discharges were user error — and said the absence of a mechanical safety is a design choice that consumers can avoid by buying a firearm design with the features they want. Not everyone has a choice to carry a different weapon if they don't trust the design of the P320, said Zimmerman, the attorney. 'The majority of our clients are law enforcement. They are not, generally speaking, permitted to choose their service weapon; it's issued by the department.' 'It can be argued that other claimants can go to their home states and argue there, but residents in New Hampshire — law enforcement officers in New Hampshire — they don't have another option,' Zimmerman said. Firearm manufacturers have lobbied for protections from liability for years, and 32 states offer some form of immunity, according to Giffords. More recently, efforts led by Democrats in several states have sought to counter such efforts with legislation clearing the way for plaintiffs to bring civil lawsuits against gun industry entities. Since 2022, nine states have enacted such laws, according to Giffords. Rep. Albert 'Buzz' Scherr, a retired law professor and Democrat in the New Hampshire State House who opposed the bill, said he expects debates over the law's scope if a plaintiff tries to file a related case in New Hampshire federal court. The bill's language was 'abundantly unclear,' he said, and 'needs to be tested out and determined how broad the ban is, in case law,' he said. 'Can [the state legislature] limit anyone to accessing federal court? I don't think the state legislature has that power,' Scherr said. At the same time, he said, the Republican majority in both chambers likely feels emboldened to try to 'control anything having to do with guns, be it state or federal law.'
CBS News
18 minutes ago
- CBS News
Tariffs are causing Alaska Airlines to cancel flights. Here's why.
Alaska Airlines is canceling more than a dozen flights a day as tariffs hinder its ability to accept delivery of new aircraft, according to the carrier. The Seattle, Washington-based airline said it wouldn't immediately accept delivery of two Embraer 175 regional jets in order to avoid incurring the extra tariff-related costs. The aircraft were meant to serve Horizon Air, a regional subsidiary of Alaska Airlines. President Trump's tariff agenda has upended supply chains for a range of businesses, and has forced many companies to raise prices on consumers in order to protect their margins. The aviation industry has also warned that the levies will affect its business. "We deeply regret the impact this situation will have on our guests this summer," Alaska Airlines said in a statement to CBS News Wednesday. "Amid the ongoing uncertain economic environment, we are focused on controlling what we can control — including costs, productivity, operational performance and taking care of our guests to the best of our ability. As part of this effort to control our costs, Alaska will not accept additional costs imposed by tariffs throughout our supply chain," it added. Without the new aircraft, Alaska said it must cancel 14 flights a day through the end of July. Horizon operates all of its flights on Embraer jets. Alaska operates an all-Boeing fleet. The delayed aircraft were expected to arrive from Brazil in May. Brazilian imports to the United States have been subject to a 10% tariff since April. Delta Air Lines also took steps to avoid paying tariffs on new aircraft earlier this year. In April, it had new Airbus A350 airlines delivered from France to Japan, and flew the planes internationally first, before bringing them to the U.S. Because the aircraft were not new on arrival in the U.S., the airline was not on the hook for paying tariffs on them. Which routes is Alaska canceling? The new planes had been scheduled to arrive by the end of May and were expected to go into service during the summer season for Horizon, which serves the Pacific Northwest, Alaska, California, Colorado, Utah and western Canada. Alaska said it is cutting routes that are served by multiple flights, so that no single route is eliminated entirely, even temporarily. "When deciding which flights to cancel, we put our guests at the center of consideration. We don't take these decisions lightly as we know it means disruption for our guests and their travel plans. We assessed our network and protected the communities we serve that already have limited service. Our teams are working to reaccommodate all impacted guests on the next best option for their travel plans," Alaska said in a statement. contributed to this report.
