The Boeing Co. is bringing both its new 747-8 freighter and passenger planes to the Paris Air Show later this month. The jet maker announced Monday its lineup of commercial aircraft that it will have on hand for the international air show, which begins June 20. Aside from the 747-8s, Boeing will hav
e a 787 Dreamliner, a 737-700 featuring the company’s latest interior and a 777-200 longest-range passenger plane. Boeing said these five jets “embody the technology and innovation that Boeing is bringing to market to reduce operating costs for airlines while revolutionizing the travel experience.” For potential military customers, Boeing will have a C-17 Globemaster III military airlifter, an F-15E Strike Eagle multi-role fighter jet and a CH-47F Chinook heavy-lift helicopter as part of the U.S. Department of Defense display at the show.
Mazda to move Mazda6 production
Mazda Motor Co. has decided to stop building the midsize Mazda6 sedan in the U.S., raising questions about the future of a U.S. factory that it runs jointly with Ford Motor Co. The Japanese automaker said Monday that it will continue building the 6 at the factory near Detroit until the end of the current model’s life cycle. But the next version will be built at Mazda’s Hofu plant in Japan, the company said. Officials wouldn’t say when U.S. production would stop.
Diamond withdraws Fed nomination
The White House says it’s “deeply disappointed” that Nobel Prize-winning economist Peter Diamond is withdrawing his nomination to the Federal Reserve Board. Press Secretary Jay Carney said Monday that Diamond “fell victim to partisan obstructionism.” Senate Republicans attacked the 71-year-old MIT professor as a proponent of bailouts and big government.
T-bill rates fall in Monday auction
The Treasury Department auctioned three-month bills at a discount rate of 0.045 percent down from 0.06 percent last week. Six-month bills were sold at a discount rate of 0.105 percent, down from 0.115 percent last week. The government on May 16 hit its borrowing limit of $14.3 trillion. Treasury Secretary Timothy Geithner is removing investments from two government employee pension funds to clear room to continue with regular debt auctions. However, he has warned that by Aug. 2 he will have exhausted the maneuvers that he can make. The rate reflects that the Treasury bills sell for less than face value. For a $10,000 bill, the three-month price was $9,998.86 while a six-month bill sold for $9,994.69. That would equal an annualized rate of 0.046 percent for the three-month bills and 0.107 percent for the six-month bills. Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for changing adjustable rate mortgages, dipped to 0.18 percent last week down from 0.19 percent the previous week.
From Herald news services
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