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Muneer Lyati – A renowned name in the Automotive Industry
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Muneer Lyati – A renowned name in the Automotive Industry

As a young boy, Muneer Lyati was fascinated with cars. But his dreams were not to own a red convertible or to be a Nascar driver, his imagination was more unique than that. Muneer envisioned a future with smarter, more efficient cars. "I wanted to replace drivers with computers, gas with electricity. I was very interested in that as a young kid." Years later, the young dreamer has surpassed his imagination. He is now a pioneer in the automotive engineering field and has recently shown his capability as a writer as well, penning and publishing his own book. Muneer Lyati was born in Saudi Arabia and grew up in the city of Mecca. He completed his education at the Jeddah College of Technology, receiving his degree in mechanical engineering with a focus on automotive engineering. ...
Lina Khan, Critic of Large Tech Firms, to Lead Federal Trade Commission
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Lina Khan, Critic of Large Tech Firms, to Lead Federal Trade Commission

WASHINGTON—The Senate on Tuesday confirmed Lina Khan for a seat on the Federal Trade Commission, and President Biden tapped her to lead the agency, a post that will allow her to pursue aggressive enforcement of U.S. antitrust and consumer-protection laws.Ms. Khan, a 32-year-old Columbia University law professor who has been a vocal critic of powerful technology companies, was confirmed on a 69-28 vote. With her confirmation secured, Mr. Biden immediately designated her as FTC chairwoman, a move that caps the ascendancy of a progressive camp that favors far-reaching changes to antitrust enforcement. Ms. Khan has been the leader of that movement, which believes the current decadeslong approach has done too little to restrain corporate dominance and stop mergers that have eroded competition. ...
Federal Judge Stops Biden Administration From Blocking New Oil and Gas Leases
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Federal Judge Stops Biden Administration From Blocking New Oil and Gas Leases

Offshore oil operations in the Gulf of Mexico off Port Fourchon, La., in April. Photo: Luke Sharrett/Bloomberg News By Timothy Puko Close Timothy Puko Updated June 15, 2021 6:20 pm ET A federal judge in Louisiana issued a preliminary injunction blocking the Biden administration from pausing new oil and gas leases on federal land. Judge Terry A. Doughty of the U.S. District Court in Monroe said the administration doesn’t have the legal right to stop leasing federal territory for oil and gas production without approval from Congress. The judge, appointed by former President Donald Trump, also said that states suing the federal government—largely southern and coastal states—will be harmed immediately as the pause prevents them from collecting lease bids and bonuses f...
Southwest Airlines Flights Thrown Into Disarray by Technical Problems
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Southwest Airlines Flights Thrown Into Disarray by Technical Problems

Southwest said it was in the process of resuming normal operations; one of the airline’s planes in Houston in 2019. Photo: loren elliott/Reuters By Alison Sider Close Alison Sider June 15, 2021 4:33 pm ET For the second day in a row, a technical problem snarled Southwest Airlines Co. LUV -0.28% ’s operations, leading to hundreds of delays and prompting the airline to cancel 500 flights. Southwest said it was in the process of resuming normal operations following what it called a system issue that created disruptions throughout its network. An airline spokeswoman said multiple systems had experienced connectivity issues. The Federal Aviation Administration said it had temporarily halted Southwest flights at the airline’s request Tuesday while the company resolved ...
Lordstown Motors Looks to Reset Its Course a Day After CEO’s Exit
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Lordstown Motors Looks to Reset Its Course a Day After CEO’s Exit

Executives at troubled electric-truck startup Lordstown Motors Corp. said Tuesday that the company has enough interest from potential buyers to sustain factory output through the end of 2022 and remains on track to start limited production in September.“It’s a new day at Lordstown and there are no disruptions—and will be no disruptions—to our day-to-day,” said Angela Strand, who took over Monday as the company’s executive chairwoman, after the chief executive and chief financial officer stepped down from the company. Ms. Strand and two other executives spoke at a Tuesday webinar for reporters. The two top leaders resigned unexpectedly after a board committee found inaccuracies in the way the company discloses preorders for its forthcoming all-electric truck. The Ohio-based startup is one ...
U.S. and EU Agree to Suspend Airbus-Boeing Trade Fight
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U.S. and EU Agree to Suspend Airbus-Boeing Trade Fight

BRUSSELS—The U.S. and the European Union agreed to suspend their trade dispute over government subsidies to Boeing Co. and Airbus SE, EADSY 0.94% significantly easing trade tensions amid a broader effort to improve trans-Atlantic relations.The agreement would lift for five years tariffs that have been authorized by the World Trade Organization and had been temporarily suspended in March. “We have resolved these disputes because we are putting away our litigation briefcases,” U.S. Trade Rep. Katherine Tai said Tuesday. The U.S. and EU are now focused on “what is going to be best for competition between us in the context of a world where our industries and workers will be facing competition like we’ve never seen before,” she said. President Biden, crossing his fingers, answered ques...
Retail Sales Drop as Spending Habits Shift
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Retail Sales Drop as Spending Habits Shift

Retail sales dropped in May, marking a shift in consumer spending from big-ticket items to goods and services related to going out amid business reopenings and higher vaccination rates. Consumers cut spending by 1.3% last month, trimming expenditures on autos, furniture, electronics, building materials and other items, the Commerce Department reported Tuesday. People spent more on such items throughout the Covid-19 pandemic but are now pulling back. Supply-chain disruptions and higher prices are also crimping sales of long-lasting goods. Americans instead are spending more on services, which account for the bulk of economic output but are largely excluded from the retail-sales report. Spending on one service—restaurants and bars—rose 1.8% last month, sending food-service sales beyond pre-...
Risks Rise to Fed’s Inflation and Employment Goals
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Risks Rise to Fed’s Inflation and Employment Goals

The Federal Reserve is required by law to seek both full employment and stable prices. It heads into a pivotal meeting this week with both sides of that mandate in trouble; inflation has shot up, while unemployment remains uncomfortably high. For the first time in years, it faces two-sided risks: Tighten monetary policy too soon and tank the economy, or tighten too late and watch inflation ratchet higher. This isn’t how things were supposed to turn out. Last summer the central bank unveiled a new monetary framework. Because inflation had been running below its 2% target, the Fed wanted inflation to run a bit above 2% so that over time it would average 2%. To achieve this it would let the economy overheat. Near-zero interest rates and bond buying would bolster demand and return unemployment...
Producer Prices Rose Strongly in May, Adding to Inflation Pressures
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Producer Prices Rose Strongly in May, Adding to Inflation Pressures

The prices that suppliers are charging businesses and other customers rose again last month, adding to inflation pressures bubbling through the U.S. economy.The Labor Department said Tuesday that its producer-price index rose 0.8% in May from the prior month, up from the 0.6% increase in April from March. The average rise between 2017 and 2019 was 0.2%. So-called core prices, which exclude volatile food, energy and trade components, rose 0.7% in May from the month before. Most of the increase in overall producer prices came from a rise in goods prices, which leapt 1.5% in May from April. Price increases were broad-based. The goods prices that jumped the most in May included beef and veal, up 10.5%, and mobile homes, which climbed 3.5%. Prices for new autos, machinery and equipment, and fu...
Slow Recovery in Long-Haul Travel Weighs Heavily on Global Carriers
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Slow Recovery in Long-Haul Travel Weighs Heavily on Global Carriers

Emirates Group posted a $6 billion annual loss and Deutsche Lufthansa AG DLAKY -2.19% said it was cutting another 10,000 jobs, as two of the world’s biggest international airlines braced for a slow resumption of long-haul travel. Emirates and Lufthansa, both dependent on international and business travel, have been among the hardest airlines by the pandemic. While domestic markets in the U.S. and China have started to record strong recoveries, the industry is expecting long-haul, cross-border travel to trail behind as quarantine requirements and restrictions hamper flights between countries. Global traffic—international and domestic—is at around half of its pre-pandemic levels, Airbus SE sales chief Christian Scherer said Tuesday. Domestic travel, led by the recovery in the U.S. and C...