An appeals court has revived a challenge to President Biden’s Medicare drug price reduction program

An appeals court has revived a challenge to President Biden’s Medicare drug price reduction program

NEW ORLEANS — A constitutional challenge to the Biden administration program enabling Medicare to negotiate lower prices for widely used prescription drugs was revived by a federal appeals court in New Orleans in a 2-1 decision Friday. Congress created the program as part of the Inflation Reduction Act passed in 2022. The first 10 drugs … Read more

Sri Lankans vote in a presidential election that will decide how it recovers from economic crisis

Sri Lankans vote in a presidential election that will decide how it recovers from economic crisis

COLOMBO, Sri Lanka — Sri Lankans began voting Saturday in a presidential election that will determine the course of the country’s recovery from its worst economic crisis and resulting political upheaval. The election, contested by 38 candidates, is largely a three-way race among incumbent liberal President Ranil Wickremesinghe, Marxist-leaning lawmaker Anura Kumara Dissanayake, and opposition … Read more

American Airlines negotiates a contract extension with labor unions that it sued 5 years ago

American Airlines negotiates a contract extension with labor unions that it sued 5 years ago

FORT WORTH, Texas — FORT WORTH, Texas (AP) — American Airlines and labor unions representing mechanics, baggage handlers and other ground workers said Friday they reached agreement on a two-year contract extension that includes double-digit pay increases. The agreement covers 34,000 employees who are represented by the Transport Workers Union and the International Association of … Read more

A strike by Boeing factory workers shows no signs of ending after its first week

A strike by Boeing factory workers shows no signs of ending after its first week

A labor strike at Boeing showed no signs of ending Friday, as the walkout by 33,000 union machinists entered its eighth day and the company started rolling furloughs of nonunion employees to conserve cash. Federal mediators joined talks between Boeing and the International Association of Machinists and Aerospace Workers this week, but company and union … Read more

Google begins its defense in antitrust case alleging monopoly over advertising technology

Google begins its defense in antitrust case alleging monopoly over advertising technology

ALEXANDRIA, Va. — Google opened its defense against allegations that it holds an illegal monopoly on online advertising technology Friday with witness testimony saying the industry is vastly more complex and competitive than portrayed by the federal government. “The industry has been exceptionally fluid over the last 18 years,” said Scott Sheffer, a vice president … Read more

The head of Boeing’s defense and space business is out as company tries to fix troubled contracts

The head of Boeing’s defense and space business is out as company tries to fix troubled contracts

ARLINGTON, Va. — Boeing on Friday replaced the head of its troubled defense and space business, which has struggled with money-losing government contracts and embarrassing setbacks involving its Starliner space capsule. The company said Theodore “Ted” Colbert III was removed immediately as president and CEO of Boeing Defense, Space & Security and replaced temporarily by … Read more

Boeing ousts Ted Colbert, head of troubled space unit after Starliner debacle

Boeing ousts Ted Colbert, head of troubled space unit after Starliner debacle

Boeing said Friday the head of the company’s troubled defense, space and security unit is leaving the planemaker effective immediately. New Boeing CEO Kelly Ortberg in his first significant move since taking over in August, said Ted Colbert would be leaving and Steve Parker, the unit’s chief operating officer, would assume Colbert’s responsibilities until a replacement is named at a later date. Boeing’s space business has suffered setbacks, notably … Read more