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Business News

Boeing finds debris in 737 MAX jetliners: company memo
Boeing Co found debris that could pose potential safety risks in the fuel tanks of several 737 MAX aircraft that are in storage and waiting to be delivered to airlines, according to an internal memo seen by Reuters on Tuesday.
Trump blasts proposed U.S. restrictions on sale of jet parts to China
President Donald Trump objected on Tuesday to U.S. proposals that would prevent companies from supplying jet engines and other components to China's aviation industry and suggested he had instructed his administration not to implement them.
Stocks slide on Apple's virus warning, euro near three-year low
Gold rose and global equity markets slid on Tuesday after Apple Inc said it was unlikely to meet its sales guidance because of the coronavirus outbreak in China, a warning highlighting the epidemic's threat to global growth and corporate profits.
U.S. judge rejects Huawei challenge to federal law restricting its business
A federal judge in Texas on Tuesday rejected Chinese telecommunications equipment maker Huawei Technologies Co Ltd's constitutional challenge to a U.S. law that restricted its ability to do business with federal agencies and their contractors.
Huawei accuses U.S. of overlooking HSBC misconduct to go after Chinese firm
U.S. prosecutors overlooked apparent violations of U.S. sanctions against Iran by HSBC Holdings in exchange for the British bank's cooperation with a government investigation of Huawei Technologies, lawyers for the Chinese telecoms giant said.
HSBC to slash investment bank, 35,000 jobs in strategy overhaul
HSBC Holdings PLC said on Tuesday it would shed $100 billion in assets, shrink its investment bank and revamp its U.S. and European businesses in a drastic overhaul that will mean 35,000 jobs cut over three years.
HSBC eyes $600 million in losses if Coronavirus persists
HSBC could be forced to take $600 million in additional provisions against loan losses if the Coronavirus outbreak persists into the second half of this year, Chief Financial Officer Ewan Stevenson said on Tuesday.
Boy Scouts of America files bankruptcy in wake of abuse lawsuits
The Boy Scouts of America said on Tuesday it had filed for Chapter 11 bankruptcy amid a flood of lawsuits over allegations of child sexual abuse stretching back decades.
Coronavirus threatens Apple supply chain, sales; shares drop
Shares of Apple Inc fell 2 % on Tuesday and dragged the stocks of its suppliers across the globe lower, after the iPhone maker warned of lower sales in the current quarter acknowledging that the coronavirus outbreak was pressuring its supply chain.

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