Ticker: US intensifies oversight of Boeing; Olympics brings on its first beer brand as a global sponsor
The Federal Aviation Administration says it will increase oversight of Boeing and audit production of the 737 Max 9 jetliner after a panel blew off an Alaska Airlines plane in midflight last week, the latest in a string of mishaps at the troubled aircraft maker.
The FAA said Friday that it would judge whether Boeing and its suppliers followed approved quality procedures.
The FAA also said it’s reconsidering a longstanding practice of relying on employees at aircraft manufacturers to perform some safety analysis of planes. Members of Congress criticized the practice of deputizing Boeing employees as inspectors after two deadly crashes involving Boeing 737 Max 8 planes in 2018 and 2019.
Olympics brings on its first beer brand as a global sponsor
The International Olympic Committee has signed Anheuser-Busch InBev as the first beer brand in the 40-year history of its sponsorship program, which earns billions of dollars for the organization and international sports.
The deal was announced Friday by the IOC and AB InBev — the Belgium-based brewing giant whose brands include Budweiser, Corona, Michelob and Modelo — for the next three Summer and Winter Games. The Paris Olympics open on July 26, and the deal also includes the 2026 Winter Games in northern Italy, then — the likely prize asset — the Los Angeles Olympics in 2028.
The value of the deal was not disclosed, though the IOC has said some of its sponsors pay more than $300 million to be in the TOP (The Olympic Partner) program for a four-year commercial cycle.