US watchdog criticizes FAA oversight of Boeing production

(Reuters) – A federal watchdog on Friday criticized the Federal Aviation Administration’s oversight of Boeing airplane production, saying it does not have an effective system to oversee the planemaker’s individual manufacturing facilities. The Transportation Department’s Office of Inspector General said in a report the FAA’s current audit processes “are not comprehensive enough to adequately identify…

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JPMorgan profit beats estimates on investment banking strength, higher interest income

By Niket Nishant and Nupur Anand (Reuters) -JPMorgan Chase’s third-quarter profit beat expectations as strong investment banking performance and rising interest payments offset a hit from bigger loan loss provisions, sending its shares up before the market open. The prospect of monetary easing by the Federal Reserve has spurred a rally in equities during the…

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