Company News in Brief
US and Indonesia finalise deal to cut tariffs to 19%
President Donald Trump's administration and the Indonesian government say they have finalised an agreement to lower US tariffs on the South East Asian country to 19% from 32%.
Under the deal, Indonesia will cut trade barriers on more than 99% of US imports and facilitate more than $30bn (£22.3bn) of purchases of American goods, the White House said on Thursday.
Washington said it granted tariff exemptions on some Indonesian goods, including certain clothing and textiles that are produced with cotton and man-made materials from the US.
-BBC News
Nasa boss says Boeing Starliner failure one of worst in its history
Nasa has labelled the botched 2024 Starliner mission, which left two astronauts stranded in space for months, a "Type A" mishap, on par with fatal shuttle disasters of the past, in a newly published report.
The category is the space agency's most severe, reserved for incidents causing more than $2m (£1.49 m) in damage, the loss of a vehicle or its control, or deaths.
On Thursday, Nasa's new boss, Jared Isaacman, blasted Boeing, which built Starliner, and the space agency for poor decision-making and leadership that led to the failed mission.
The incident drew global attention after the pilots were stuck for more than nine months in space before returning home last March.
-BBC News
JPMorgan Chase pushes back on Trump’s $5 billion lawsuit
JPMorgan Chase on Thursday hit back at President Donald Trump’s debanking lawsuit against the company and CEO Jamie Dimon, filing to move the case from Florida state court to federal court and arguing the president’s initial lawsuit “fraudulently” included Dimon.
JPMorgan Chase lawyers wrote in a notice, first reported by Bloomberg, that Trump’s lawsuit is based on a statute that explicitly exempts federally regulated bank executives who are acting in their official role.
Trump’s lawsuit was filed with respect to Florida’s Deceptive and Unfair Trade Practices Act, which does not apply to federally regulated bank officers, the lawyers argued. That means Dimon was improperly, or “fraudulently” included in the suit, they argued.
Trump last month sued JPMorgan Chase and Dimon, alleging the bank improperly removed him as a client in 2021 due to political reasons. The suit, initially filed in Florida state court, seeks $5 billion in damages.
-CNN International
