Boeing 737 MAX victims' relatives ask judge to reject deal ending criminal case
WASHINGTON, June 18 (Reuters) - Relatives of some of the 346 people killed in two Boeing (BA.N), opens new tab 737 MAX crashes in 2018 and 2019 on Wednesday asked a federal judge to reject a deal between the Justice Department and the planemaker to allow the company to avoid prosecution in a fraud case.
The agreement allows Boeing (BA.N), opens new tab to avoid being branded a convicted felon and to escape oversight from an independent monitor for three years that was part of a plea deal struck in 2024.
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Auto Blog
37 minutes ago
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Buying a Mitsubishi? Prices Just Jumped
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Reuters
3 hours ago
- Reuters
More than 70% of Japan firms see tariff impact within expectations, Reuters poll shows
TOKYO, June 19 (Reuters) - A significant majority of Japanese firms have found the business impact of U.S. President Donald Trump's tariffs within expectations and have not found it necessary to change investment plans, a Reuters survey showed on Thursday. The United States has imposed a 10% tariff on goods from most countries along with additional tariffs for many big trading partners including Japan, which could face a 24% tariff from July unless it can negotiate a deal. There is also a 25% tariff on cars, a particular sore point for Japan whose economy relies heavily on automobile exports to the United States. About 71% of respondents to Reuters' survey said the impact of U.S. tariffs is within initial expectations, and 84% said they plan to stick to their investment plans for the current business year - typically April-March in Japan. "After all, the Trump administration ends in four years. If we don't carry on with our long-term investments, we'll lose out in competition with other Asian countries," a manager at a machinery manufacturer wrote in the poll. The survey was conducted by Nikkei Research for Reuters from June 4-13. Nikkei Research reached out to 504 companies and 220 responded on condition of anonymity. On Japan's sales tax, four out of 10 respondents said they oppose any tax reduction, whereas the remainder said there should be some form of cut, the survey showed. Cutting the tax to help the public cope with rising prices has become a major issue ahead of upper house elections scheduled for July. A 10% tax is applied to most goods and services. The tax for food and newspapers is 8%. The largest opposition Constitutional Democratic Party of Japan has proposed cutting the 8% rate on food items to zero for one year. Prime Minister Shigeru Ishiba, head of the ruling Liberal Democratic Party, is opposed as sales tax revenue funds social security. "Opposition parties are oblivious to what the sales tax is for. It is the tax that ought to be raised," said an official at a metal and machinery maker. With three out of 10 people aged 65 or above, Japan is the world's most advanced ageing society. A manager at a transportation company favoured a temporary, across-the-board sales tax cut "to fight inflation and stimulate consumption". About 63% of respondents said the government should not rely on bond issuance to fill revenue shortfall in the event of a sales tax cut, whereas 37% were in favour, the survey showed. "The ageing of the population will be advancing further and social security costs will be getting bigger. We should not turn to tax cuts or government bond issuance lightly," said a manager at a chemical company. On the composition of the ruling coalition after the upper house elections, 32% of respondents favoured the current ruling bloc of the LDP and junior partner Komeito, while 20% wanted the Democratic Party for the People to be a third partner, the survey showed. Last year, the LDP and Komeito lost their combined majority in the more powerful lower chamber, making it difficult for Ishiba to implement policies. The Democratic Party for the People quadrupled its lower house seats.
Reuters
4 hours ago
- Reuters
What late-June sizzle could mean for US corn yields: Braun
NAPERVILLE, Illinois, June 18 (Reuters) - Although the U.S. Corn Belt is in for a scorching weekend, June weather has been mostly supportive of crop development, with corn health ratings improving for three consecutive weeks. But how much bearing might that have on final corn yields or weather outcomes for the pivotal month of July? As early as last year, meteorologists warned that the U.S. Corn Belt could be due for drought in 2025, though that has yet to unfold. A mid- or late-summer drought could still be in the cards, of course, and the yield impacts would vary depending on timing. Recently, new-crop CBOT corn futures appeared to be carrying minimal weather premium as prices sank to six-month lows this week. December corn has since bounced with this weekend's hot forecast in focus, though prices remain well off the year's peak. Recent weather models suggest that both temperatures and precipitation for June will be above average across the Midwestern United States. While warm Junes are more likely to feature dry conditions, this warm-wet combination is similar to last year. Corn yield outcomes have varied widely in relation to observed June weather. But July temperatures are where things start to separate. In the past quarter-century, the worst corn yield outcomes all coincided with warmer-than-normal Midwestern Julys. The truly good years featured cool Julys, but slightly warm temperatures were also passable a couple of times (2016, 2017). Big corn yields have resulted from abnormally dry Julys (2014), though this works only if July is cool and June and/or August rainfall is ample. The strongest corn yields all resulted in years where July-August Midwestern rainfall was near or above normal. Near-average yields have coincided with dry July-Augusts, but only when July temperatures were cool. Obviously, a hot July plus a dry July-August is the very worst combination for yields, which was seen in 2011 and 2012. Interestingly, 2011 is the last time that corn conditions improved over the same three weeks in June as the 2025 ones. But the fact that June 2025 will likely feature above-average rainfall doesn't tell us much about what's coming next. July and August have been both wet and dry following wet Junes, though warm Julys are more likely to follow warm Junes. Current extended forecasts suggest the next four weeks could be warmer than average across the central Corn Belt, featuring pockets of both wet and dry weather. Uncertainty is always high when it comes to long-range forecasts, but the current outlook should warrant some caution. August matters for U.S. soybean yields like July matters for corn. Last year, the market was harshly reminded of the need for August rains to support large soybean yields. August 2024 rainfall across the Midwest amounted to just 87% of normal, the driest August since 2013. But 2024 U.S. soybean yield forecasts were still easily at record levels as late as October. The government's yield estimate plunged 4.5% between October and January, the largest decline for that period since 1993, emphasizing the significance of the August rainfall deficit. That occurred despite above-average June and July rains, meaning the range of possibilities for U.S. soybean yields is even wider than those for corn given that August is still several weeks away. Karen Braun is a market analyst for Reuters. Views expressed above are her own. Enjoying this column? Check out Reuters Open Interest (ROI), opens new tab, your essential new source for global financial commentary. ROI delivers thought-provoking, data-driven analysis of everything from swap rates to soybeans. Markets are moving faster than ever. ROI, opens new tab can help you keep up. Follow ROI on LinkedIn, opens new tab and X., opens new tab
