The United Kingdom, Singapore, and Australia have joined China and other countries in banning the Boeing (BA - Get Report) 737 MAX 8 from entering and leaving their airports after the aircraft model crashed for the second time since October.
Nearly 40% of the in-service fleet of 371 Boeing 737 MAX jets globally has been grounded, according to industry publication FlightGlobal, including 97 jets in China, the biggest market, Reuters reported.
Singapore's Civil Aviation Authority said it was "closely monitoring the situation" and the ban will be "reviewed as relevant safety information becomes available." Australia's Civil Aviation Safety Authority followed Singapore's lead by temporarily suspending the plane to review the risks, wrote TheStreet's Joseph Woelfel
Disney and Fox Are Close to Finalizing Their Union
Walt Disney (DIS - Get Report) set March 20 as the date for its $71.3 billion acquisition of Twenty-First Century Fox (FOXA) assets to become official. The deal will be completed at 12:02 a.m. ET on that day, wrote TheStreet's Tony Owusu.
Disney agreed to acquire the majority of Fox's assets, including the media company's regional sports networks, its 30% stake in Hulu, and the company's film and television studios. Fox will continue to operate its news division and national sports network FS1.
Dick's Sporting Goods Falls
The sporting goods retailer beat Wall Street's fourth-quarter earnings forecast but reported falling sales.
The Coraopolis, Pennsylvania-based company reported fourth-quarter net income of $102.6 million, or $1.07 a share. Adjusted earnings came to $1.22, exceeding analysts' estimates of $1.06. Net sales declined 6.5% from a year ago to about $2.49 billion, but were ahead of analysts' expectations of $2.48 billion. Same-store sales dipped 2.2%, compared with the FactSet estimate of down 3.3%. A year ago, the company reported earnings of $115.9 million and earnings of $1.11 a share.
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