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Tag: $2.5bn

Boeing will pay $2.5bn to resolve US investigation into 737 MAX disasters

Boeing will pay $2.5bn to resolve US investigation into 737 MAX disasters

World
Plane manufacturer Boeing will pay out more than $ 2.5bn to resolve a US investigation into the deadly 737 MAX disasters, the country's Justice Department has said.In a statement, America's government said the settlement includes a criminal penalty of $ 243.6m and compensation to the firm's customers of $ 1.77bn. Boeing will also set up a fund of $ 500m to compensate the families of those who died in the Ethiopian Airlines and the Lion Air crashes.The 737 Max model has been grounded since March 2019 following the two fatal crashes in which 346 people were killed.In November, the US aviation regulator cleared the way for its return to US skies, followed a week later by the European Union Aviation Safety Agency (EASA) confirming plans to also give the go-ahead. ...
WPP courts Chinese tech giants over $2.5bn deal

WPP courts Chinese tech giants over $2.5bn deal

Business
Alibaba Group and Tencent‎ Holdings, the two biggest names in China's technology industry, are in talks to buy a stake in the $ 2.5bn (£1.9bn) Chinese operations of WPP Group. Sky News can exclusively reveal that Alibaba, Tencent and China Media Capital Holdings (CMC) are in early-stage discussions about buying roughly 20% of WPP China.Sources said the negotiations, which could take several months to conclude, were expected to value the business at between $ 2bn (£1.52bn) and $ 2.5bn.Under the deal, WPP - which is hunting a successor to Sir Martin Sorrell, the 33-year company veteran ‎who stepped down in April following an investigation into his personal conduct - would pool its Chinese agency operations into a new holding company.The consortium compris...