✈️ Boeing Extends 2024 Drop Past 25% as Max Crisis Deepens

Boeing Co.’s crisis of confidence gathered pace, with the share slump surpassing 25% this year after the Justice Department opened a criminal investigation into an accident that has thrown the company into disarray.

The shares slid as much as 4.4% in New York on Monday, their biggest intraday drop since Jan. 25. Alaska Airlines — the carrier on which a fuselage panel blew out during a 737 Max flight earlier this year — confirmed the government probe. Federal prosecutors have convened a grand jury as part of the investigation, Bloomberg News reported on Monday.

Shares of Boeing fell 3.2% as of 1:32 p.m. in New York, bringing the 2024 decline to 26%, worst among members of the Dow Jones Industrial Average.

🔗 https://www.bloomberg.com/news/articles/2024-03-11/boeing-shares-extend-2024-drop-past-25-on-us-investigation

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✈️ Pressure on Boeing grows as Buttigieg says the company needs to cooperate with investigations

With Boeing facing multiple government investigations, the company needs to make “a serious transformation” around its safety and manufacturing quality, Transportation Secretary Pete Buttigieg said Monday.

The comments came one day after Buttigieg said the aircraft builder is under “enormous” scrutiny by his department since a panel blew off a Boeing 737 Max jetliner in midflight.

Over the weekend, The Wall Street Journal reported that the Department of Justice launched a criminal investigation into the Jan. 5 blowout on an Alaska Airlines jet. That followed the company’s admission that it couldn’t find records that the National Transportation Safety Board sought for work done on the panel at a Boeing factory.

The Federal Aviation Administration, part of Buttigieg’s department, is also investigating Boeing.

“Obviously we respect the independence of DOJ (the Department of Justice) and NTSB (the National Transportation Safety Board) doing their own work,” Buttigieg told reporters Monday, “but we are not neutral on the question of whether Boeing should fully cooperate with any entity — NTSB, us, or DOJ. They should, and we expect them to.”

Buttigieg said Boeing must “go through a serious transformation here in terms of their responsiveness, their culture and their quality issues.”

🔗 https://apnews.com/article/boeing-safety-quality-investigation-buttigieg-2fadabe8a6d9c9cced0deec85fc9b975

✈️ The people who assemble Boeing airplanes wouldn’t recommend using them. Enjoy your next flight.

🔗 Kim Dotcom

🇺🇦❌🇷🇺 — 🏴 ZeroHedge | Zelensky Says 'Build The Wall': Ukraine Erecting 2,000km Of Fortifications On Front Lines | March 11, 2024:

"Ukraine's President Zelensky has more or less indicated he's ready to build the wall—to borrow the old Trump phrase...

He announced on Telegram Monday that he has ordered the construction of some 2,000 kilometers of fortifications in order to solidify the front lines with Russian forces. He touted the good "pace of construction of new defense lines."

He reviewed the status of the fortification in a meeting with military commanders and ministers following approval of a "record amount" of funds allocated for the fortification efforts, at between $500 and $800 million."

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🇩🇰🇺🇦A new military aid package for Ukraine worth around 2.3 billion kroner ($336.6 million) has been agreed at the Danish Foreign Policy Council.

According to the Ministry of Defence, 2.3 billion kroner will be allocated for the period 2024-2026. Of this, about 1.3 billion kroner ($190.2 million) will be spent in 2024, about 0.2 billion kroner ($29.3 million) in 2025 and about 0.7 billion kroner ($102.4 million) in 2026. A total of 25.3 billion kronor ($3.7 billion) has been earmarked for Ukraine's assistance fund, to be disbursed between 2024 and 2028.

The 16th assistance package includes funds for the purchase of CAESAR self-propelled artillery units in cooperation with France, 120 mm self-propelled mortars and their ammunition in cooperation with Estonia and the Czech Republic.

@ukraine_watch

🇪🇺 Brussels vs. Brussels: EU Parliament to sue Commission over Hungary cash — Politico

The European Parliament is preparing to sue the European Commission over its controversial decision to unfreeze billions in funds for Hungary late last year, people involved in the decision told POLITICO’s Brussels Playbook.

The Parliament’s legal affairs committee on Monday voted nearly unanimously — with 16 members in favor, one opposed and no abstentions — to take the Commission to court for breaching its obligation to protect taxpayer money from being misused.

Last December, the Commission unblocked €10.2 billion in frozen EU cohesion funds earmarked for Budapest, which had been held back amid human rights and rule-of-law concerns.

Commission President Ursula von der Leyen’s decision to unfreeze the funds was met with backlash from MEPs, who accused her of caving to Orbán’s blackmail.

“We believe we have a solid case, as the Commission has contradicted itself on whether Hungary is respecting the rule of law,” Greens MEP Daniel Freund told Playbook Monday night. “The Court of Justice of the EU has always stood up for the independence of the courts.”

🔗 https://www.politico.eu/article/parliament-sues-commission-over-unfreezing-of-hungary-funds/

💰🚀📈 Bitcoin over $73000 on all mayor exchanges!

🇺🇸❗️🇷🇺🔫📈 — 🇺🇸 The Libertarian Institute | Russia Producing 3 Times More Shells Than US, EUROPE Combined – Report | March 12, 2024:

"Russia’s defense industry is turning out nearly three times more artillery shells than its American and European counterparts, according to a NATO intelligence report obtained by CNN. Western powers have scrambled to ramp up production as Ukrainian troops face dire ammunition shortages.

While the US and Europe have the capacity to produce a combined 1.2 million shells annually, Russia’s output has now reached 3 million, the NATO estimate said. Though Washington aims to boost production to 100,000 155mm shells each month by 2025 – up from just 28,000 last September – that target can only be met with a resumption of American aid to Kiev, and would still put US output at less than half of Moscow’s.

According to US officials, Russia is burning through around 10,000 shells per day, vastly outgunning Ukraine’s daily average of just 2,000. The Estonian Defense Ministry has estimated that Kiev would need 200,000 rounds every month to match Russia’s firepower."

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🇪🇺🤝🇺🇦 High Representative of the EU for Foreign Affairs and Security, Josep Borrell announced 5 billion EURs in aid to Ukraine.

📝 The EU is the sole Western country still funding Ukraine after the U.S. got stuck in a deadlock and halted funding for the last ~9 months

🔗 Josep Borrell

🇨🇳🔫💸📈 — 🏴 ZeroHedge | China Steps Up Military Spending | March 12, 2024:

"According to SIPRI data, China has increased its military expenditure by almost 900 percent since 1992.

As Statista's Katharina Buchholz notes, at around $300 billion in 2022, the Chinese spent significantly more than the Russians (around $72 billion), but their spending was still well below that of the U.S. (around $812 billion).

China is the second-biggest spender in total military budget after the United States."

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💰 Bitcoin  ETFs are 58% of the way to flipping Gold ETFs for total assets.

$58.7b for $BTC
$98b for Gold

That's just after just 8 weeks...

At this rate, Bitcoin will flip Gold ETFs in a few months!😳

➡️ @Bitcoin_Insights

🇩🇰 Denmark to begin connoscripting women for the military in rare move

Women in Denmark can already volunteer for military service. In 2023, they made up about a quarter of the cohort.

Denmark is now the third country in Europe to introduce female connoscription. Norway and Sweden did so in 2015 and in 2017, respectively.

The Danish Army consists of 7,000 to 9,000 professional troops, excluding connoscripts undergoing basic training, according to official figures. Compulsory military service applies to men over the age of 18. However, because there are enough volunteers, not all young men are connoscripted. Instead, a lottery is held.

🔗 https://www.politico.eu/article/denmark-extend-military-service-women-connoscription/

🇺🇸💸 Breaking Down $1.3T in NATO Defense Spending 🪖

https://twitter.com/VisualCap/status/1764486072157774097