Day: July 5, 2018

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Boeing and Brazil’s Embraer form $4.75 billion commercial jet venture

http://money.cnn.com/2018/07/05/news/companies/boeing-embraer-venture/index.html?section=money_topstories

boeing embraer split
Boeing will take over the commercial aircraft division of Embraer, the Brazilian regional jet manufacturer.

Boeing will take over the commercial aircraft division of Embraer, the Brazilian regional jet manufacturer.

The two companies announced a joint venture on Thursday valued at $4.75 billion.

The deal gives Boeing a bigger stake in the market for smaller jets. But it’s not just about expanding market share or competing with Airbus, said Carter Copeland, aerospace and defense researcher and founding partner at Melius Research.

“Boeing is looking to learn from what Embraer is good at: designing and developing airplanes more cheaply,” he said.

For Embraer, the venture helps level the playing field with Bombardier, which recently joined with Airbus in a similar partnership. The Brazilian company will also benefit from Boeing’s global sales and support network, he said.

Boeing will own an 80% stake in the venture, and Embraer will have 20%. The company will be led from Brazil, with Boeing retaining operational and management control. Boeing and Embraer said they expected the deal to close by late next year, pending regulatory approval.

Boeing said it expected the venture to create $150 million in pretax savings by its third year.

A separate joint venture between Boeing and Embraer will be dedicated to developing new markets for defense products, most notably the K-390 multi-mission aircraft.

CNNMoney (New York) First published July 5, 2018: 12:36 PM ET

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July 5, 2018 at 11:41AM

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EU Parliament rejects controversial copyright bill

https://www.engadget.com/2018/07/05/eu-parliament-did-not-pass-copyright-bill/


Francois Lenoir / Reuters

After the EU Parliament’s legal affairs committee narrowly passed a bill that would require tech companies to monitor and filter internet content to protect copyrights, approval by the full governmental body was inevitable. Or so everyone thought. This morning, the EU Parliament rejected the new copyright reform bill. It will now be opened for further discussion and amendment by all 751 European lawmakers.

The Copyright Directive is first time the EU is updating its copyright laws since 2001; the idea was to bring copyright laws into the modern age, with the rise of internet sharing. The law was clearly intent on protecting copyright holders; Article 11 of the bill would have required websites to pay to link to news organizations or use article snippets, while Article 13 would have required tech companies to check uploaded submissions against copyrighted works. Many pronounced the latter to be the death of memes.

Digital rights groups, computer scientists, academics, organizations such as Wikipedia and even human rights groups were staunchly opposed to various parts of the bill. But this defeat doesn’t mean the EU Copyright Directive won’t eventually pass. It was defeated by 318 votes to 278, which means that representatives will debate, amend and then vote again on the bill in September. It’s possible that, at that time, it might pass with some of the most controversial provisions still intact. Only time will tell what will happen with this bill, but for now, it’s welcome news for its opponents.

via Engadget http://www.engadget.com

July 5, 2018 at 08:27AM