Thursday newspaper round-up: Boeing, Evergrande, M&S

by | Sep 9, 2021

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Boeing’s board of directors must face a lawsuit from the planemaker’s shareholders over two fatal crashes of its 737 Max aircraft, which killed 346 people in less than six months, a US judge has ruled. Delaware judge vice-chancellor Morgan Zurn found that the company had ignored “red flags” about the safety of the new aircraft and its anti-stall system, which the board “should have heeded but instead ignored”, following the crash of Lion Air flight 610 in October 2018. – Guardian

Shares in the embattled Chinese property giant Evergrande have slumped again after two credit downgrades in two days amid concerns that it will default on parts of its massive $300bn debt pile. Evergrande, which is one of the world’s most indebted companies, has seen its shares tumble 75% this year. They fell by almost 10% on Thursday morning to HK$3.35, which is below the listing price when the company floated on the Hong Kong market in 2009. – Guardian

Britain was forced to ask France to send less electricity across the Channel after technical problems with a trading platform in Europe threatened a risky surge of power. Officials issued a request for “emergency assistance” from France on the morning of Sunday August 29 to cap flows to Britain through giant cables under the sea. – Telegraph

 

Shoppers have long pined for the return of the good old days at Marks & Spencer, so the reintroduction of its St Michael label might fan hopes that a revival is around the corner. M&S scrapped the logo from products ranging from socks to sausages in 2000 in an effort to resuscitate its fortunes. Now, after a 21-year absence, a preview of the chain’s latest ranges has revealed that the St Michael’s brand has reappeared. – The Times

KPMG’s decision to set foot on to the delicate territory of class is brave. The accounting firm has set itself a target for 29 per cent of its senior people to be from a working-class background by 2030. It thinks that this is a first for any large UK employer. At present 20 per cent of its partners and 23 per cent of its directors are deemed to be working class, while only 14 per cent of the executive committee are sufficiently proletarian. Class, once toe-curlingly taboo, is now firmly on the agenda at the Big Four firm. – The Times

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