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WASHINGTON (Reuters) – U.S. Senate Commerce Committee chair Maria Cantwell said on Friday she was opening an inquiry into railroad hazardous materials safety practices after a Feb. 3 Ohio derailment of a train operated by Norfolk Southern raised new concerns. Cantwell wrote the chief executives of Norfolk Southern, Burlington Northern Santa Fe (BNSF), Canadian National, …

U.S. senator asks railroad CEOs to answer questions on hazardous shipments Read More »

By Valerie Insinna and David Shepardson (Reuters) -Boeing on Friday awarded Chief Executive Dave Calhoun an incentive worth approximately $5.29 million to induce him to stay throughout the company’s recovery from the twin crises of the COVID-19 pandemic and two deadly 737 MAX crashes that led to the fleet’s grounding. Boeing’s board of directors on …

Boeing offers CEO $5.3 million incentive to stay through recovery Read More »

By Sriparna Roy, Nandhini Srinivasan and Khushi Mandowara (Reuters) -Travere Therapeutics said on Friday the U.S. health regulator has granted accelerated approval to its drug to treat a type of chronic kidney disease, IgAN, in adults with a high risk of advancing to kidney failure. Shares of the drugmaker were up 2.8% at $18.32 after …

U.S. FDA approves Travere Therapeutics kidney disorder drug Read More »

By David Shepardson WASHINGTON (Reuters) -U.S. lawmakers on Friday asked the Surface Transportation Board to defer a decision on a proposed Canadian Pacific merger with Kansas City Southern until the board completes a Chicago region impact assessment. U.S. Senators Dick Durbin and Tammy Duckworth and Representatives Raja Krishnamoorthi and Delia Ramirez said the board’s environmental …

U.S. lawmakers urge board to defer railroad merger decision Read More »

(Reuters) – The U.S. Navy has awarded Lockheed Martin Corp a contract worth up to $2 billion related to hypersonic weapon systems, the defense firm said on Friday, amid a global uptick in demand for arms and ammunitions. Under the contract, Lockheed will integrate the Conventional Prompt Strike (CPS) weapon system on to the navy’s …

Lockheed Martin gets U.S. Navy contract worth up to $2 billion Read More »

By David Randall NEW YORK (Reuters) – Signs of strength in the U.S. economy have buoyed stocks in the face of rising Treasury yields and hawkish Federal Reserve expectations, though some investors believe the rally may be on borrowed time. Stronger-than-expected reports on employment, retail sales and inflation have pushed up expectations for how much …

Analysis-What recession? Strong economy buoys U.S. stocks, though Fed casts shadow Read More »