Boeing loses big order for 737 Max aircraft

Flyadeal, the low-cost Saudi Arabian airline, has cancelled an order for 30 Boeing 737 Max aircraft.

The decision follows the crashes of two 737 Max jets, the first in Indonesia in October followed by one in Ethiopia in March, which killed 346 people.

The deal, which included an additional option to purchase 20 more 737 Max aircraft, was worth $5.9bn. read more »

Grand jury investigating top GOP fundraiser Elliott Broidy over FCPA violations

A federal grand jury in New York is investigating top Republican fundraiser Elliott Broidy, examining whether he used his position as vice chair of President Donald Trump's inaugural committee to drum up business deals with foreign leaders.

Prosecutors appear to be investigating whether Broidy exploited his access to Trump for personal gain and violated the Foreign Corrupt Practices Act, which makes it illegal for U.S. citizens to offer foreign officials "anything of value" to gain a business advantage. Things of value in this case could have been an invitation to the January 2017 inaugural events or access to Trump. read more »

British Airways faces $230 million fine

British Airways faces a record $230 million fine after a website failure compromised the personal details of roughly 500,000 customers.

It would be the largest penalty yet under a tough privacy rule known as the General Data Protection Regulation, which came into force last year in the European Union. read more »