Category Archives: Personal Opinion

P.O. (Express) Fury as House of Lords votes to block no deal Brexit ‘it’s a political ruse!’

The Lords have been proven right for centuries. That is why they still exist.

When the Lords raise i allways pay atention.

FCMP




(Express) PEERS last night backed a Parliamentary move to “stop Brexit”. They voted by 245 to 99, a majority of 146, in favour of setting up a joint committee of peers and MPs to examine the potential costs of a no-deal departure from the EU.

Brexit: No-deal bill is a ‘political ruse’ says Lord Rabathan

Speaking in the debate on the motion, Lord Robathan, a Tory MP and former Minister, warned colleagues: “It is frankly a political ruse. It is designed to tie the hands of an incoming prime minister. “This House is unelected, it is privileged, it is unaccountable. I think we should be very wary of trying to stop Brexit.”

Pointing to the referendum result, Lord Robathan added: “I don’t think we should be prepared – and that’s the point of this motion- to tell the little people outside… ‘sorry guys you just got it wrong’. I think that would be very unwise

“If we try to thwart the will of the people we would be very, very ill-advised.”

Baroness Smith, the Labour leader in the Lords, tabled the motion.

Opening the debate, she cited warnings from motor manufacturers, supermarket chains and the Bank of England about the potential impact on the economy of a no-deal Brexit.

“We cannot accept marching towards the cliff edge without an up-to-date assessment of what lurks beyond,” she said.

eu flag and uk flag ripping apart from one another

Baroness Smith warned of the impact on motor, supermarket and banking companies, if a no-deal Brexit (Image: GETTY)

Lord Robathan

Lord Robathan warned colleagues a no-deal Brexit is a political ruse (Image: getty)

Judges’ no problem with £350m claim

HIGH Court judges yesterday said they threw out a summons issued against Boris Johnson because false statements in politics “are not new”.

Marcus Ball, 29, had claimed the former foreign secretary lied during the 2016 referendum campaign saying the UK gave £350million a week to the EU.

But Lady Justice Rafferty said that the allegation could not apply to statistics that were publicly available.

P.O. (CNBC) Deutsche Bank reportedly considering up to 20,000 job cuts

P.O.

In my opinion, and as i said countless times, Deutsche Bank does not even stand a chance of surviving.

The internal culture and practices are wrong and the legal liabilities are not even possible to put an estimate on.

I am afraid the bank has been belly up for years.

Francisco (Abouaf) de Curiel Marques Pereira



(CNBC) Deutsche Bank is considering cutting 15,000 to 20,000 jobs, or more than one in six full-time positions globally, the Wall Street Journal reported on Friday, citing people familiar with the discussions.

The layoffs would probably take place over more than a year and would spread across regions and businesses, the Journal said.

Top-level talks about the restructuring took place on Thursday and Friday, but no final decisions have been made, a source close to the matter told Reuters.

Deutsche Bank is completing a plan that may eliminate hundreds of positions in equities trading and research, as well as derivatives trading, as part of a broad restructuring, Bloomberg reported on Friday, citing sources.

Sources told Reuters last week that the bank plans to cut the size of its U.S. equities business, leaving only a skeleton operation in place to service corporate and high-net-worth clients.

Members of Deutsche’s supervisory board discussed those plans on a call earlier this month and agreed that large-scale cuts were necessary in the bank’s U.S. equities and rates trading businesses, Reuters reported, citing the sources.

Chief Executive Officer Christian Sewing is trying to convince investors he can turn around Germany’s biggest bank, whose shares hit a record low this month. He told investors at the annual meeting last month that Deutsche was prepared to make “tough cutbacks” at its investment bank.

M.P.O. V.V.I. (FT) Liberalism ‘has outlived its purpose’ — President Putin speaks exclusively to the Financial Times

M.P.O.

Mr Putin is a dictator.

And of the worst kind.

He is the kind of person that gives sense to the word detest.

And he tells obvious lies.

And with such nerve…

However there are a few points in his interview that make sense to me.

I am sorry if this comes as a shock to some.

The obvious one is that to be tolerant to people that are intolerant by conviction and nature, is not possible and admissible any more.

Enough is enough.

And shame on all politician fouls that said otherwise for decades.

And to the Citizens of various Countries that trusted and voted for them, like sheep going to the slaughter house.

In some respects (not all) i have to say that i disagree with Mr Tusk.

In due respect.


Francisco (Abouaf) de Curiel Marques Pereira



Russian President Vladimir Putin speaks to FT editor Lionel Barber about foreign affairs and relations with the UK in an exclusive interview at the Kremlin

M.P.O. (ejinsight) Hong Kong’s contentious extradition bill spurs capital flight

…As per my written and published yesterday.

M.P.O. (GUA) Sound of Hong Kong’s defiance reverberates in Beijing


M.P.O.

To mix water with olive oil is impossible.

Every Portuguese knows this.

The Special Status of Hong Kong is effectively incompatible with Mainland China’s current system.

Now and in the future.

I have no idea what the outcome will be.

But one thing i think i know.

These problems are going to became worst and worst with time.

If the credibility of Hong Kong is affected a massive capital flight will occur, in proportions never seen before anywhere around the World.

And Mainland China has already a severe capital flight problem.

In the case of this happening it will be a severe blow to several of Beijing’s aspirations.

Only then the future will be clear.

Thank you for your patience.

Francisco (Abouaf) de Curiel Marques Pereira



(EJinsight) The Hong Kong government has decided to suspend the controversial extradition bill following massive demonstrations and clashes between protesters and police. 

But the issue’s negative impact on the local economy will not simply go away. First of all, more mainland billionaires may decide to move their money out of the city.

To some extent, the former British colony has become a safe haven for fugitives, which is one of the main reasons why Chief Executive Carrie Lam Cheng Yuet-ngor had tried to push her legislative initiative. But that’s one of the main attractions of Hong Kong.

Mainland China’s legal system remains immature, while there are many gray areas in the economic sector. Businessmen may find themselves in trouble as a result.

That’s why not a few mainland billionaires have obtained citizenship in Hong Kong and moved part of their assets here to diversify the risk.

However, their assets in Hong Kong could be frozen or confiscated under the proposed Mutual Legal Assistance in Criminal Matters Ordinance that forms part of the extradition bill.

That means that upon the request of the central government, the Department of Justice could ask the court to grant an injunction to freeze or confiscate certain assets.

Local tycoons and those from other Asian countries who have assets here are also spooked.

Many billionaires have set up family offices in the city for worldwide allocation of their assets. But they might feel Hong Kong is no longer an ideal destination for such offices and consider moving elsewhere.

Singapore, which also boasts low tax rates, a common law system and a complete wealth management industry chain, is likely to be the biggest winner.

The Hong Kong SAR government pledges that there is no timetable to relaunch the suspended legislation, but Chief Executive Lam insists that she is doing “the right thing” and plans to relaunch the bill after proper consultation. 

That is hardly reassuring for anybody. 

P.O. (BBC) Newspaper headlines: ‘Revenge is sweet’ in race for Number 10

P.O.

Out goes Michael Gove that had betrayed Boris Johnson 4 years ago.
Tactical voting?

Niet says the Kremlin.!

But I, Francisco, a Contrarian all my life, say yes.

Plus, revenge is a fish that is served cold.


FCMP



(BBC)

The i Friday 21
Image captionThe newspapers react to another day of ballots in the Conservative leadership race, when the four remaining candidates were whittled down to two – Boris Johnson and Jeremy Hunt. The i suggests frontrunner Mr Johnson feared being up against Michael Gove in the final two and so his campaign employed “dirty tricks” to increase Mr Hunt’s votes instead.
Daily Express
Image caption”Revenge is sweet” says the Daily Express, calling Mr Johnson “ruthless” for ending his “arch-rival” Mr Gove’s hopes of becoming prime minister. It refers to what happened in the 2016 leadership contest – which Theresa May won – when Mr Gove had initially backed Mr Johnson before changing his mind and deciding to run himself.
Telegraph Friday 21
Image captionThe Daily Telegraph also speaks of revenge and a “voting plot”. It says Mr Gove’s team grew suspicious when five MPs publicly promised to support Mr Johnson, but his vote share only increased by three votes. One supporter of Mr Johnson said Mr Gove “had it coming”, the paper reports. Former Defence Secretary Gavin Williamson – who is running the whipping operation in Mr Johnson’s campaign – has been accused of organising the tactical voting.
Guardian Friday 21
Image captionThe Guardian also reports on the same suspicions about the voting, saying Mr Johnson’s team believed Mr Hunt – who voted Remain – would make a “less formidable adversary” than Brexiteer Mr Gove. But one member of the Johnson campaign denied it had deliberately helped Mr Hunt get into the final two. And Mr Gove’s campaign manager, Mel Stride, also said “it would appear to me everybody has behaved pretty much as one would hope”.
The Times Friday
Image captionThe Times says supporters of Mr Johnson “boasted” that they had exacted revenge. One supporter tells the paper: “Gove stabbed us in the back – we’ve stabbed him in the front.” The paper says MPs made “extraordinary allegations” about Mr Johnson’s tactics, with one claiming a text was sent to a junior minister (who was backing another candidate) which read: “How are you enjoying your job? Do you want to carry on?” Mr Johnson’s campaign said claims it had orchestrated Mr Hunt’s success was “absolute nonsense”.
The Metro
Image captionThe Metro also reports on Mr Johnson’s “revenge”, and suggests his team “used dark arts” to see off his old rival. The final decision on who becomes prime minister out of the remaining two candidates now lies with Conservative Party members.
The Mail
Image captionThe Daily Mail’s headline takes the same view as others, focusing on Mr Johnson’s “revenge”. The paper calls Thursday a “dramatic conclusion” to the ballots by MPs in the leadership race. Mr Hunt has promised to give his adversary the “fight of his life”, the paper adds.
Mirror Friday 20
Image captionThe Daily Mirror focuses on the option facing Tory members when they vote for their next leader next month. The Mirror makes claims about Mr Johnson and his past behaviour and Mr Hunt’s time as health secretary.
The FT
Image captionThe Financial Times says Mr Johnson’s team was relieved he will now face the “mild-mannered Mr Hunt” rather than the “spiky Mr Gove”. The paper looks ahead to the four-week battle which comes next. “I’m the underdog, but in politics surprises happen,” Mr Hunt said on Thursday. Meanwhile, the Bank of England intends to allow tech companies to bank digital currencies in its vaults.
The Sun
Image captionThe Sun’s main story is about the BBC, which it says is under fire over claims a Mastermind contestant won the quiz by giving a wrong answer. Judith Lewis, 59, appeared to say the mascot of the Army’s Desert Rats was a gerbil – not a jerboa. A spokeswoman for BBC Studios said proper checks had taken place during the recording and her fellow contestants were satisfied with the answer.
The Daily Star
Image captionFriday’s Daily Star reports on the comedian Jimmy Carr, who it says cracked a “sick joke about dwarfs”.

The latest in the Conservative leadership contest and a theme of “revenge” features widely on many of Friday’s newspaper front pages.

“Boris gets his revenge” is the Daily Mail’s headline. It reports that former Foreign Secretary Boris Johnson has been accused of lending the votes of his supporters to Jeremy Hunt, after Michael Gove wrecked his previous campaign to become leader of the Conservative Party.

A friend of Mr Gove tells the paper he has been the victim of “dark dealings”.

The Daily Telegraph has the same story under a similar headline: “Boris exacts his revenge”, while the Daily Express describes Mr Gove being knocked out of the leadership contest as a moment of “sweet revenge” for the frontrunner.

The Times goes further, claiming that Mr Johnson’s supporters “boasted” about their revenge on Mr Gove.

It quotes one unnamed MP as saying: “Gove stabbed us in the back – we’ve stabbed him in the front”.

“Was the result fixed?” asks the Guardian. It says Boris Johnson’s camp believes Mr Hunt, who is dubbed “Theresa in trousers” by some at Westminster, will make a less formidable adversary than Mr Gove.

Boris Johnson and Jeremy Hunt composite picture
Image captionBoris Johnson and Jeremy Hunt are in the final two

The Financial Times comments that Conservative MPs were once labelled “the most sophisticated electorate in the world”. But after a day of dark rumours of skulduggery, one MP sighed: “Better to say we’re the most duplicitous.”

The Daily Mirror complains that after the latest round in the Conservative leadership race, “shameless Johnson ” or “callous Hunt” will be the next prime minister – and voters don’t get a say.

But the Daily Telegraph thinks that finally the country has what it needed three years ago: a public contest for the leadership of the party. It sees the vote as an historic opportunity to remind the candidates what the voters think beyond the world of Westminster.

P.O. (NYT) Deutsche Bank Faces Criminal Investigation for Potential Money-Laundering Lapses

P.O.

By George!
It’s Deutsche Bank again!

FCMP

(NYT) Federal authorities are investigating whether Deutsche Bank complied with laws meant to stop money laundering and other crimes, the latest government examination of potential misconduct at one of the world’s largest and most troubled banks, according to seven people familiar with the inquiry.

The investigation includes a review of Deutsche Bank’s handling of so-called suspicious activity reports that its employees prepared about possibly problematic transactions, including some linked to President Trump’s son-in-law and senior adviser, Jared Kushner, according to people close to the bank and others familiar with the matter.

The criminal investigation into Deutsche Bank is one element of several separate but overlapping government examinations into how illicit funds flow through the American financial system, said five of the people, who were not authorized to speak publicly about the inquiries. Several other banks are also being investigated.

The F.B.I. recently contacted the lawyer for a Deutsche Bank whistle-blower, Tammy McFadden, who publicly criticized the company’s anti-money-laundering systems, according to the lawyer, Brian McCafferty.

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Ms. McFadden, a former anti-money-laundering compliance officer at the bank, told The New York Times last month that she had flagged transactions involving Mr. Kushner’s family company in 2016, but that bank managers decided not to file the suspicious activity report she prepared. Some of her colleagues had similar experiences in 2017 involving transactions in the accounts of Mr. Trump’s legal entities, although it was not clear whether the F.B.I. was examining the bank’s handling of those transactions.

The same federal agent who contacted Ms. McFadden’s lawyer also participated in interviews of the son of a deceased Deutsche Bank executive, William S. Broeksmit. Agents told the son, Val Broeksmit, that the Deutsche Bank investigation began with an inquiry into the bank’s work for Russian money launderers and had expanded to cover a broader array of potential misconduct at the bank and at other financial institutions. One element is the banks’ possible roles in a vast money-laundering scandal at the Danish lender Danske Bank, according to people briefed on the investigation.

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The broader scope of the investigations and many details of precisely what is under scrutiny are unclear, and it is not known whether the inquiries will result in criminal charges. In addition to the F.B.I., the Justice Department’s Money Laundering and Asset Recovery Section in Washington and the United States attorney’s offices in Manhattan and Brooklyn are conducting the investigations. Representatives for the agencies declined to comment.

Deutsche Bank has said that it is cooperating with government investigations and that it has been taking steps to improve its anti-money-laundering systems.

Editors’ Picks

The Mystery of the Miserable Employees: How to Win in the Winner-Take-All EconomyJeremy Lin, ‘Reppin’ Asians With Everything I Have,’ Is Bigger Than an N.B.A. TitleOne Reluctant Night Out Leads to a Forever DateTammy McFadden said Deutsche Bank managers had declined to send the government a suspicious activity report she wrote.CreditWillie J. Allen Jr. for The New York Times

Tammy McFadden said Deutsche Bank managers had declined to send the government a suspicious activity report she wrote.
Tammy McFadden said Deutsche Bank managers had declined to send the government a suspicious activity report she wrote.CreditWillie J. Allen Jr. for The New York Times

Even so, the governmental scrutiny — from regulators, members of Congress and now the Justice Department and F.B.I. — has been a drag on the bank’s stock price, which is hovering near historic lows because of investors’ doubts about its future.

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The congressional investigations are focused on Deutsche Bank’s close relationship with Mr. Trump and his family. Over the past two decades, it was the only mainstream financial institution consistently willing to do business with Mr. Trump, who had a history of defaulting on loans. The bank lent him a total of more than $2 billion, about $350 million of which was outstanding when he was sworn in as president.

Two House committees have subpoenaed Deutsche Bank for records related to Mr. Trump and his family, including records connected to the bank’s handling of potentially suspicious transactions. The president has sued to block Deutsche Bank and Capital One, where he also holds money, from complying with the subpoenas. A federal judge rejected Mr. Trump’s request for an injunction, and the president has appealed that ruling.

The Justice Department has been investigating Deutsche Bank since 2015, when agents were examining its role in laundering billions of dollars for wealthy Russians through a scheme known as mirror trading. Customers would use the bank to convert Russian rubles into dollars and euros via a complicated series of stock trades in Europe and the United States.

In early 2017, federal and state regulators in the United States and British authorities imposed hundreds of millions of dollars in civil penalties on Deutsche Bank for that misconduct, but prosecutors never brought a criminal case against the bank. That led some senior Deutsche Bank executives to believe they were in the clear, according to people familiar with their thinking.

By last fall, though, federal agents were investigating a wider range of anti-money-laundering lapses and other possible misconduct at the bank.

F.B.I. agents met this year with Val Broeksmit, whose father was a senior Deutsche Bank executive who committed suicide in January 2014. Mr. Broeksmit said he had provided the agents with internal bank documents and other materials that he had retrieved from his father’s personal email accounts.

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Until his death, William Broeksmit sat on the oversight board of a large Deutsche Bank subsidiary in the United States, Deutsche Bank Trust Company Americas, which regulators have criticized for having weak anti-money-laundering systems.

Many of the bank’s anti-money-laundering operations are based in Jacksonville, Fla., where Ms. McFadden was one of hundreds of employees vetting transactions that computer systems flagged as potentially suspicious.Ms. McFadden worked in Deutsche Bank’s offices in Jacksonville, Fla. Current employees there have discussed the possibility of the building’s being raided by federal agents.CreditWillie Jr. Allen for The New York Times

Ms. McFadden worked in Deutsche Bank’s offices in Jacksonville, Fla. Current employees there have discussed the possibility of the building’s being raided by federal agents.
Ms. McFadden worked in Deutsche Bank’s offices in Jacksonville, Fla. Current employees there have discussed the possibility of the building’s being raided by federal agents.CreditWillie Jr. Allen for The New York Times

Ms. McFadden told The Times that she had warned in summer 2016 about transactions by the Kushner Companies involving money being sent to Russian individuals. Other Deutsche Bank employees prepared reports in 2017 flagging transactions involving legal entities associated with Mr. Trump, including his now-defunct charitable foundation, according to current and former bank employees. In both instances, the suspicious activity reports were never filed with the Treasury Department.

Deutsche Bank officials have said that the reports were handled appropriately and that it is not uncommon for managers to overrule employees and opt not to file suspicious activity reports with the government.

There is no indication that Kushner Companies is under investigation. The company said any allegations regarding its relationship with Deutsche Bank that involved money laundering were false. A Trump Organization spokeswoman said that she had no knowledge of any Deutsche Bank transactions being flagged.

The federal Bank Secrecy Act requires financial institutions to alert the government if they suspect that transactions involve criminal proceeds or are being used for illegal purposes. Banks can face civil or criminal penalties for failing to file reports about transactions that are found to be illegal. In recent years, banks like JPMorgan Chase and HSBC have incurred such penalties.

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Banks argue that when they err on the side of reporting potential problems, they end up flooding the government with false leads.

Former Deutsche Bank employees, speaking on the condition of anonymity, told The Times that the company had pushed them to rush their reviews of transactions and that managers sometimes created obstacles that discouraged them from filing suspicious activity reports.

Deutsche Bank has scrambled to toughen its anti-money-laundering procedures.

To address complaints about inadequate staffing, it brought in contractors to supplement its Jacksonville work force, although some employees said that the contractors were inexperienced and lacked the appropriate training.

Deutsche Bank also recently sent letters to hundreds of companies, warning that they could be cut off from the bank’s services if they did not swiftly provide up-to-date information about the sources of their money and the names of their business partners, according to bank employees who saw the letters. Deutsche Bank officials said the letters, first reported by the Financial Times, were part of their efforts to comply with “know your customer” rules, a crucial component of any bank’s anti-money-laundering efforts.

In Jacksonville, Deutsche Bank’s anti-financial-crime staff works in a white, three-story building surrounded by palm trees. The F.B.I. has a field office just down the road, clearly visible from the bank’s campus.

Bank employees recently have taken to joking that when the F.B.I. raids their offices, they will be able to see the agents coming.

M.P.O. (GUA) Sound of Hong Kong’s defiance reverberates in Beijing

M.P.O.

To mix water with olive oil is impossible.

Every Portuguese knows this.

The Special Status of Hong Kong is effectively incompatible with Mainland China’s current system.

Now and in the future.

I have no idea what the outcome will be.

But one thing i think i know.

These problems are going to became worst and worst with time.

If the credibility of Hong Kong is affected a massive capital flight will occur, in proportions never seen before anywhere around the World.

And Mainland China has already a severe capital flight problem.

In the case of this happening it will be a severe blow to several of Beijing’s aspirations.

Only then the future will be clear.

Thank you for your patience.

Francisco (Abouaf) de Curiel Marques Pereira



(GUA) Beijing’s public support for Hong Kong leader likely hides private fury, but letting her go would be another humiliation

Protest messages Legislative Council building in Hong Kong
 Protest messages written on sticky notes on the wall of a stairway near the Legislative Council building in Hong Kong. Photograph: Carl Court/Getty

The most obvious casualty of Hong Kong’s extraordinary uprising against chief executive, Carrie Lam, and her campaign to tie the city more closely to China, will be the bureaucrat-turned-politician’s own career. If she stays on, it will only be as a lame duck leader.

But the city’s turmoil is also a major challenge to her boss and patron, Chinese president, Xi Jinping.

Lam has been at pains to paint herself as an independent actor in the crisis, and as it unfurled Beijing has publicly doubled down on its expressions of support for her. But neither of those positions are entirely honest.

The show of political power by Hong Kong’s population, and Lam’s humiliating climbdown over a controversial extradition law, are a major headache for Xi, a ruler who has pursued an increasingly nationalist, autocratic agenda since becoming premier of China.

“I think Xi Jinping is probably mad as hell,” said Willy Lam, professor at the Centre for China Studies at the Chinese University of Hong Kong. “(Protestors) have forced Xi to back down, for the first time since he took power seven years ago, from a major policy platform.”

At home the crisis will provide immediate ammunition for his elite enemies inside the Communist party, and eventually perhaps inspiration to a different group of opponents in restive regions including Tibet and western Xinjiang province.

“Sooner or later news will filter through, and again people there will take heart from what Hong Kong people have achieved through a show of unity and coming out to the streets,” Lam said.

In self-ruled Taiwan, which Xi would dearly like see unified with the mainland, the crisis is expected to boost pro-independence president Tsai Ing-wen as she runs for re-election, by providing voters with a dramatic warning of the risks from closer ties with China.

Further afield, the showdown with Hong Kong citizens has given ammunition to critics in the West, at a time when China is hovering on the brink of a trade war with the US and under fierce attack for issues including a network of concentration camps for Uighurs in Xinjiang and its aggressive policy in the South China Sea.

Chinese authorities’ fear of what has been happening in Hong Kong is evidenced in widespread censorship. Many news outlets behind the digital great firewall that blocks China off from the rest of the Internet have avoided it, or briefly attacked foreign meddling in the former British colony. The English-language China Daily carried a report on an anti-US march by Hong Kong parents. It did not mention the protest that organiser’s claim numbered nearly 2 million marching against their own government.

Beijing’s expressions of support for Lam are almost certainly driven only by the calculation that losing a hand-picked leader under public pressure would do Beijing further damage.

Carrie Lam and Xi Jinping
 Hong Kong chief executive, Carrie Lam, after administering the oath for office in 2017, watched by Xi Jinping. Photograph: Kin Cheung/AP

“The protests in Hong Kong have exacerbated Beijing’s existing challenges. China is already embroiled in a trade war, and protests could strengthen Beijing’s critics in Taiwan as the election approaches,” said Zhixing Zhang, senior east Asia analyst at Stratfor.

“But the fact that Carrie Lam’s political career is at stake forces Beijing to firmly support its own appointed official.”

Lam’s own insistence that the controversial extradition law which lies at the heart of the current crisis was purely her own initiative ring almost as hollow as Beijing’s protestations of confidence.

It is still unclear whether the idea for the law originated in Beijing or Hong Kong, but once on the table, Xi and the ruling Communist party embraced it enthusiastically.

It would have been a useful tool, allowing the government in Beijing to legally pursue critics and fugitives who have set up shop in Hong Kong (it has occasionally kidnapped them in defiance of the law).

It would also have expedited political and legal integration of the two countries, a key goal for China ahead of the 2047 expiry date for Hong Kong autonomy.

Two members of China’s ruling politburo standing committee made unusual public statements in support of the bill, and Lam is reported to have consulted with one of them, Han Zheng, the day before agreeing to suspend it.

The Guardian view on Hong Kong’s crisis: the people have spoken

 Read more

Before the current crisis the chief executive had a reputation as a hardworking, competent and sometimes ruthless administrator, which may be why Beijing believed she could shepherd through legislation which would have such a profound impact on every aspect of Hong Kong life.

She has no obvious successor, and as Beijing tries to find one, it will have to confront the fundamental challenge it faces in trying to control Hong Kong, while the city still has freedom of speech and enjoys the rule of law.

“The job of the chief executive is pretty much impossible as they have to answer to two masters with radically different demands,” said Prof Lam.

One is the politburo in Beijing, long a loud and demanding master. But the other is the people of Hong Kong, and now they have found their voice too.

P.O. (BBC) Boeing 737 Max: BA-owner IAG signs deal to buy 200 planes

P.O.

In my opinion, and regardless of the ovious needs in fixing the anomalies in the Boeing737, this is an extremely smart move by IAG.
In a time in which Boeing was in a deep crisis with its main selling plane, IAG comes up with a huge order that fixes several problems n one go:

1 – To start with of an order of 24 billion dollars in face value, the press says IAG must have payed roughly half.

2 – Not bad for a discount…

3 – It solves Boeing problem of the continuation of this troubled model.

4 – Jt must have helped. Boeing, and a lot with the legal cases airlines must have surd Boeing.

5 – On antother front,IAG as far as i know is controlled by UK share holders.

By helping the US, and the US Government with this order at a particular difficult time, the UK is getting an enormous leverage with the US Government in a moment it needs all the help it can get because of Brexit.

6 – With an unconditional US support London can check mate Brussels come what may.

7 – In these kind of situations i think it makes the difference between winning and loosing.

8 – In the case i am reading these facts right, the unconditional US support would reach Brussels in less than a nanasecond.

9 – I am of the opinion, if my reasoning is correct, that the UK negociators wiuld arrive in Brussels with an “HIS Master’s Voice”sound.

10 – And that would be an ideal scenario, considering that, in my opinion, the EU is almost a dictatorship.

“That’s All Folks”

Francisco (Abouaf) de Curiel Marques Pereira



(BBC)

A Boeing 737 MAX 8 for China Southern Airlines pictured at the Boeing Renton Factory in Washington in 2019

Boeing has received a boost for its grounded 737 Max jet after British Airways-owner IAG signed a letter of intent to order 200 of the planes.

The airline group said it was confident that the Boeing planes would return to service in the coming months.

Boeing is currently trying to develop a software fix for 737 Max planes after two deadly crashes.

All 737 Max planes were grounded in March after an Ethiopian Airlines flight crashed, killing 157 people.

Five months earlier, 189 people were killed when a Boeing 737 Max operated by Lion Air crashed.


Analysis:

By Theo Leggett, BBC business correspondent

This is not a firm order, and strictly speaking, IAG could change its mind if it wanted to – but it will still come as a huge boost for Boeing, at a show where it has been struggling to dispel the clouds hanging over its business.

The 737 Max may still be grounded – but it remains a flagship product for the American giant. It’s worth remembering it is the fastest selling product in Boeing’s history. It still has more than four thousand of them on order, far more than the rest of its range put together.

What IAG seems to have offered is a vote of confidence that the company will be able to make the aircraft unquestionably safe, and be able to demonstrate to regulators that it has done so, allowing it to return to market before long.

The economic reality is that airlines need the 737 Max – because of its high efficiency and low operating costs. Airbus simply cannot supply the whole market with its rival A320neo.

The deal, if it goes ahead, would be valued at $24bn (£19bn) at list prices. But the “substantial discount” negotiated by IAG’s savvy chief executive Willie Walsh is likely to be very substantial indeed.

Meanwhile the announcement may help to alleviate the mood at Boeing’s chalet, where it would be understandable if something of a siege mentality had developed over the past few days.


The planes will be used by IAG’s airlines including British Airways, Vueling and Level, the airline group said in a statement. The letter of intent was signed at the Paris Air Show.

IAG chief executive Willie Walsh said: “We have every confidence in Boeing and expect that the aircraft will make a successful return to service in the coming months having received approval from the regulators”.

IAG’s “first priority is the safety of passengers and crew,” a spokeswoman said.

Boeing shares rose more than 2.8% after the announcement.

The firm said it was “truly honoured and humbled by the leadership at International Airlines Group for placing their trust and confidence in the 737 Max”.

Criticisms of the crew of the Ethiopian Airline plane that crashed in March were “seriously misinformed”, the airline’s chief executive Tewolde GebreMariam said after a US congressman claimed pilot error was a factor in the disaster.

This week a US Federal Aviation Administration official indicated that Boeing 737 Max aircraft might could be grounded until the end of the year – longer than many had been expecting.

P.O. (TravelMarket) Many Consumers Don’t Want to Fly the 737 Max When it Returns

P.O.

No wonder…
Personally i will never, ever fly that plane.
Better safe than sorry.
Or better said:
With all the outsourcing, personally, i don’t trust Boeing anymore.
And i loved the 747 400.
Now my favorite is the A380 on long haul.

FCMP



(TravelMarket) Boeing’s troubled 737 Max aircraft likely won’t be flying again until the fall, and maybe even later. This weekend, American Airlines announced that it is extending cancellation of about 115 daily flights into September, as testing and flight certifications incorporating software upgrades haven’t been completed yet.

Southwest Airlines and United Airlines also operate the 737 Max, grounded worldwide since mid-March, and both carriers had already extended flight cancellations past the busy summer travel season.

But even when the 737 Max returns to service, a new consumer survey indicates that travelers harbor significant concerns about the jet’s safety, which could complicate the lives of professional travel advisors.

One in four leisure travelers and one in five business passengers “definitely intend to avoid the plane,” even after it is reintroduced to airline schedules, according to a survey of 2,000 U.S. airline passengers, recently completed by Atmosphere Research Group, San Francisco, California.

“There are a lot of terrified airline passengers out there. Travel advisors will be serving some of them,” said Henry Harteveldt, Atmosphere Research president and travel industry analyst.

“When the 737 MAX is allowed to return to service, travel advisors should be prepared for more passengers to ask about the type of plane scheduled to operate a flight. Advisors should be prepared for people to state upfront that they don’t want to fly on a MAX, or if told the flight will use a MAX, get requests to be booked on flights that use other types of aircraft”

Atmosphere Research found that just 14 percent of consumers “would definitely” fly the aircraft within six months of its return to service. Only one in five would definitely fly the 737 Max within 12 months of returning to the skies, and more than two in five passengers would take less convenient flights or pay more for alternative flights to avoid flying the 737 Max.

Atmosphere Research said in its report that while it doesn’t expect 40 percent or more of passengers to avoid the 737 MAX, “even if actual avoidance is one-tenth the results in the study, given the size and scope of many airlines that have ordered the 737 MAX, there is a risk airlines could face a large number of passengers who would avoid the plane.”

Additionally, Atmosphere Research found that ongoing news coverage about oversight of Boeing by the Federal Aviation Administration (FAA) has caused 56 percent of business passengers and 44 percent of leisure passengers to “consider the relationship between Boeing and the FAA to be too cozy.”

If the FAA’s trust as an agency protecting flyer safety “is weakened or, worse, shattered, it’s possible the number of anxious flyers may grow, and travelers’ confidence about flying, at least on Boeing aircraft, may fall. The result? Some people may opt for flights on non-Boeing aircraft, while others may cut back on their air travel,” Atmosphere Research said in its report.

Are leisure travelers specifically sensitive to the 737 Max grounding?
Vacationers seem to be keenly sensitive to the 737’s safety issues.

“Leisure travelers fly less often than business travelers, and so they may be more focused on safety. It’s thus possible the news coverage of the 737 MAX’s problems may cause them more concern. Plus, with summer vacations looming, it’s possible leisure passengers may be more focused on the grounding because of possible direct effect on their vacations,” Atmosphere Research said.

Even after the 737 MAX is back in service for a year, 65 percent of leisure passengers aren’t sure whether they’d want to fly on it, Atmosphere Research said.

The aversion towards the 737 Max could lead to more difficult conversations for travel advisors as they are planning client trips. Atmosphere Research estimates that 57 percent of business passengers and half of leisure travelers pay attention to the type of aircraft they are flying when planning and booking their flights.

In the survey, the company presented passengers with three different scenarios, and asked them whether they’d choose a flight for a vacation on a 737 MAX or a different plane. The first scenario asked passengers to choose from a nonstop flight on a 737 MAX or a connecting flight that would take 90 minutes more either way on a different type of single-aisle jet airliner.

Forty-three percent of business passengers and 45 percent of leisure passengers preferred the longer connecting flight.

When Atmosphere Research asked passengers whether they would prefer a more conveniently timed nonstop on a 737 MAX or a less convenient nonstop aboard an Airbus A320, 44 percent of both business and leisure passengers opted for the less conveniently timed A320 nonstop.

In a third scenario, passengers were given the option of a nonstop on a 737 MAX or a nonstop on a different airplane, which would cost $40 more each way — or $80 more round-trip. Some 47 percent of business passengers and 49 percent of leisure passengers chose the more expensive, non-737 MAX nonstop.

“It says a great deal that, for a product where convenience (namely schedule) and

price often dominate passengers’ purchase decision-making, many — for now — would choose less convenient, more expensive options to avoid a 737 MAX,” Atmosphere Research said.

Consumers are mostly seeking trusted updates from network and cable TV news programs, followed by national newspapers. When asked, “Of the following ways to get news and information, which three would you trust most to receive updates about the 737 MAX?” agents were listed only by 4 percent of the respondents.

“I believe that travel advisors can and will play a more substantial role in helping instill confidence about the 737 MAX with their clients than either our research suggests, or that the agents may believe,” said Harteveldt.

“Agents need to avail themselves of as much credible information as possible about the MAX’s various safety improvements to provide clients with objective, useful information,” he said.

“The agents (or their agency managers) should post the information, or links to the information, on their websites and social media accounts. They may want to consider a proactive email campaign with news about the plane as well,” adding that “when an agent flies on the MAX after it is back in service, the agent should share that as well.”

Harteveldt said today’s airline passenger anxiety about an aircraft hasn’t been seen since the Douglas DC-10 was grounded in the 1970s.

When Harteveldt worked in TWA’s passenger advertising department in the mid-1980s, “we still saw some consumer resistance to the DC-10 in our market research. We found we were able to successfully sell against the DC-10 by promoting that we flew the Lockheed L-1011, a competing aircraft..

“Once the 737 Max was allowed to return to service, its reliability helped restore consumer confidence,” he said. A consistent safe return performance by the 737 Max would likely have the same effect on American travelers. “Consumer fears didn’t really last too long. The DC-10 went on to have a successful, four-decade long history of passenger service.”

“I think one thing that helped with restoring confidence in the DC-10 was that we were still in a world of ‘traditional’ media. We didn’t have digital media, nor did we have social media. Today, the presence of both can be a double-edged sword. On the positive side, digital and social media can play roles in communicating news updates and information far faster, and far more broadly. The risk to both is that consumers may not trust the outlets, and we have seen how easy it is for some to successfully publish false information.”

Atmosphere Research conducted the online survey from April 27 to May 1, with an average age of 46 years old for leisure traveler respondents, and a household income of nearly $94,000. The survey’s participants were selected at random from the US panel of a third-party market research firm that operates a global consumer panel of more than 100 million people.

P.O. (BG) Tory leadership candidates back UK net zero target

P.O.

I don’t care about Mrs May’s opinions.

She has prooven herself unwordy of any consideration.

The sooner she is out out of the goverment the better.

We don’t need loosers in the EU.

Only winners.

Francisco (Abouaf) de Curiel Marques Pereira




(BG)

As speculation continues over whether Theresa May will deliver a new net zero goal for the UK economy, all the candidates to replace her – bar one – publicly back new 2050 target

All of the frontrunners to replace Theresa May as Prime Minister have publicly confirmed they would introduce a net zero emission target for 2050 if they are selected as Conservative Party Leader.

P.O. (CNBC) Trump: If President Xi does not attend G-20, more China tariffs will go into effect immediately

P.O.

This is getting nastier by the minute.
President Trump is a master in confrontation negociations.
And he certainly has a point on the unfair to the US Workd trade.
If he succeds or not is anyone’s guess.
And we don’t know if it will damage the World’s growth.
Bur it’s only fair to say he had to try to fix these inbalances.
The World has to realize that it cannot continue to have unfair trade advantages with the US.
“That’s All  Folks”.

Francisco (Abouaf) de Curiel Marques Pereira




(CNBC) Trump is supposed to meet with Xi at the G-20 summit, which is scheduled for June 28-29 in Osaka, Japan. The leaders of 19 nations and the European Union are expected to attend.

In the telephone interview on “Squawk Box, ” the president said he’d be surprised if Xi did not attend. Trump said he has “a great relationship” with Xi, adding that “he’s actually an incredible guy.”

As the trade war between the U.S. and China continues, Trump has said he will continue raising tariffs on Chinese goods. He said his administration is currently taxing “35% to 40%” of the Chinese goods the U.S. imports. If an agreement isn’t reached, there are “another 60% and that’ll be taxed,” Trump said.

P.O. GUA) Boris Johnson to appear in court over Brexit misconduct claims

P.O.

What an unprecedented and riculous case with obvious political motivations.

If all the politicians that gave the wrong numbers (and i am not even sure this is a wrong number, because it depends on what’s put into it or not),had been prosecuted, i am of the opinion that there wouldn’t be one politician left around in the World without these charges.

This unprecedented attack by the Judicial System on the statements of a politician in an electoral campain, reminds me of autoritarian regimes.

I am embrassed for the UK.

Francico (Abouaf) de Curiel Marques Pereira


(GUA) MP summonsed to face accusations over comments made before EU referendum

Boris Johnson has been summoned to court to face accusations of misconduct in public office over claims that he lied by saying Britain gave £350m a week to the European Union.

The ruling follows a crowdfunded move to launch a private prosecution of the MP, who is the frontrunner in the Tory leadership contest.

Johnson lied and engaged in criminal conduct when he repeatedly claimed during the 2016 EU referendum campaign that the UK handed over the sum to Brussels, Westminster magistrates court was told last week by lawyers for a 29-year-old campaigner who has launched the prosecution bid.

District judge Margot Coleman ruled on Wednesday: “The allegations which have been made are unproven accusations and I do not make any findings of fact. Having considered all the relevant factors I am satisfied that this is a proper case to issue the summons as requested for the three offences as drafted. The charges are indictable only.

“This means the proposed defendant will be required to attend this court for a preliminary hearing, and the case will then be sent to the crown court for trial. The charges can only be dealt with in the crown court.”

The attempted prosecution is being brought by Marcus Ball, who has accused the former foreign secretary of misconduct in public office and raised more than £200,000 to hire a legal team.

The next hearing at Westminster magistrates court is expected to take place in three or four weeks and will be purely administrative, but Johnson will have to attend. He and his legal team will be asked if he intends to contest the case.

It would then be sent to a crown court, probably Southwark, where it would be listed for a preliminary hearing. At this point, Johnson’s team would be expected to seek to have the case dismissed.

A full trial, in front of a jury, would not be expected to take place for another six months, by which time Johnson could be prime minister.

The offence of misconduct in public office carries a maximum sentence of life imprisonment.

Acting for Johnson, Adrian Darbishire QC, told the court last week that the application by Ball had been brought for political purposes and was a “political stunt”.

“Its true purpose is not that it should succeed, but that it should be made at all. And made with as much public fanfare as the prosecution can engender,” he said. “The application represents an attempt, for the first time in English legal history, to employ the criminal law to regulate the content and quality of political debate. That is self-evidently not the function of the criminal law.”

However, in her ruling , the judge said she was satisfied there was a prima facie case for the allegation that there had been an abuse of the public’s trust in a holder of office.

She referred to statements provided by Ball’s team from members of the public that addressed the impact that “the apparent lie” had had on them. She also cited the contention by Lewis Power QC, counsel for Ball, that “there will seldom be a more serious misconduct allegation against a member of parliament or mayor than to lie repeatedly to the voting public on a national and international platform, in order to win your desired outcome”.

A central plank of the case put forward by Ball’s team was that Johnson, as an MP and previous mayor of London, “lied and misled” the public about the cost of EU membership and used the “platforms and opportunities offered to him by virtue of his public office”.

Coleman’s ruling noted that, as mayor, Johnson signed off several letters in that capacity when expressing his views on Brexit. His then chief of staff, Edward Lister, was also said to have informed the mayor’s staff that it was “official mayoral policy” to support the case for leaving the EU.

“A policy being deemed official, and therefore of the office, would make any campaigning thereafter by the proposed defendant official and pursuant to his office,” the ruling stated.

There was no immediate reaction from Johnson but a source close to the MP said: “This prosecution is nothing less than a politically motivated attempt to reverse Brexit and crush the will of the people.”

The ruling was also criticised by fellow pro-Brexit Tories, including David Davies, who said it was “deeply sinister” that Johnson faced being “dragged” into court. He added on Twitter: “EU supporters falsely claimed that a leave vote would collapse the economy. No action being taken against them.”

P.O. (FT) Why Goldman Sachs should buy Deutsche Bank

P.O.

Personally i would love it to happen.
We would get rid of two evils:
The Vampires of Wall Street and the eternally broke Deutsche Bank.
DB problems, particularly the litigation problems,would eat the Vampires of Wall Street’s (Goldman Sachs) capital in no time.
As the French would say:
Bon debarras!
(Good riddance!)

Francisco (Abouaf) de Curiel Marques Pereira



(FT) Why Goldman Sachs should buy Deutsche Bank

US group wants growth in transaction banking and a German deal could help achieve that

O.P./P.O. Port/Engl (ZeroHedge) Is Turkey The Snowflake That Unleashes The European Banking System Avalance?

O.P.

Não tenho dúvida que mais tarde ou mais cedo a Turquia precisará de ajuda internacional para poder honrar os seus compromissos com o exterior.
A situação da banca turca é particularmente dramática com empréstimos concedidos em liras turcas e recursos obtidos em Euros ou USD.

Esta situação é insustentável como bem sabemos.

É uma questão de tempo…


English version written by the Author

P.O.

I have no doubt that sooner or later Turkey will need international help to be able to honor its international commitements.

The situation of the Turkish banks is particularly worrying with the funding obtained in Euros or USD and the loans granted in liras.

This situation is unsustainable as we all know.

It is only a question of time.

Francisco (Abouaf) de Curiel Marques Pereira



(ZH)

Turkey’s Inevitable Recession, Surging Gold Demand,
Record Gold Highs and EU Bank Contagion

Turkey’s debt problem, coupled with the plummeting lira, is arguably the most important risk factor for the nation’s economy.

To make matters worse, far from it posing a threat just to Turkey itself, it also has the potential to inflict significant damage elsewhere too, starting with key economies in the Eurozone.

At first glance, the situation in Turkey might resemble many past similar scenarios of a heavily indebted nation with a plummeting currency that descends into a severe recession and eventually gets bailed out, like Greece.

However, there is one key difference that makes Turkey’s debt problem much more complicated and potentially dangerous. Unlike Greece, Italy or other seriously debt-laden economies, it’s not just government borrowing that’s the main risk here.

Instead, it’s the unsustainable and increasingly unfinanceable corporate debt that makes Turkey a ticking time bomb and renders an IMF-rescue option problematic.

Private debt to GDP stands at a staggering 170%, while, overall, over half of the borrowing is denominated in foreign currencies. Thus, the collapse of the lira has made it extremely challenging for businesses to pay off or even service their debt, while the default risk has surged. Around $179 billion in external debt is due to mature until July 2019, which amounts to almost a quarter of the country’s annual economic output, according to JPMorgan estimates. Most of that, $146 billion, is owed by the private sector and banks in particular.

However dire the current debt predicament might seem for Turkey’s businesses and economic outlook, it is important to also consider the implications for its debtholders, especially since European banks feature prominently among them. In fact, the level of exposure in some cases is so worrying that it justifiably raises concerns that what happens in Turkey won’t just stay in Turkey.

Spain’s banking sector is one of very few in the European bloc that was so far considered not to be problematic; especially in comparison to Italian or Greek banks.

However, the exposure of Spanish banks to Turkish debt means that the currency and debt woes of Europe’s neighbor have decisively challenged these assumptions. Spain’s second-biggest bank, BBVA, controls 49.9% of Turkish bank Garanti, which has already reported a rise in non-performing loans. Spanish banks also led the lending spree to Turkish businesses over the past years, rendering them vulnerable to the spiking default risk.

Although Spanish banks were by far the greatest lenders for Turkey, French, Italian and German banks also have significant exposure to Turkish debt. This already became problematic from the onset of the Turkish woes this past summer, when investors dumped Eurozone bank shares and prices suffered significant blows. Among the worst hit were BBVA, Unicredit, and PNB Paribas. Yet still, a blow to the stock price is nothing compared to the damage that a sustained currency crisis and rising default risk can inflict to the already vulnerable European banking sector.

Key lessons

Overall, Turkey’s woes are yet another important and timely reminder of the frailty of the current monetary system and of the banking sector, as well as of the systemic weaknesses and inevitable unsustainability of a centrally planned economy and of fiat money.

After all, the lira’s value, as that of any other fiat currency, depends on the trust the people place in its issuer. Once that is lost or even shaken, no measures and no force applied by the central planners can stabilize it. We saw that play out over the last months in Turkey, with the government trying a wide variety of approaches to control the currency’s fall, to no avail. That clearly demonstrated the flimsy and fickle nature of the entire system.

As the Turkish currency collapsed, demand for gold more than doubled in the country, while gold priced in lira reached all-time highs, as is to be expected in times of crisis.

Erdogan’s public calls for citizens to sell the “gold under their pillows” and buy lira to help defend the country against the “economic attacks” from the outside were clearly ignored. Consumers flocked to the precious metal in response to the deteriorating fiat currency and gold imports to Turkey increased eightfold last December, while the Turkish central bank itself also dramatically increased its official reserves over the last two years.

As the country now joins the long list of nations that came to regret reckless interventionism and aggressive monetary manipulation, it also sends a strong message to those investors who are wise enough to heed it. In order to effectively prepare for the upcoming economic slowdown and all that it will bring, one needs to hedge against these inherent risks that are deeply embedded in our current system.

While inflation, currency depreciations, volatile stock markets or a rise in toxic debt might be all we’ll see during the next downturn, nobody can be sure what the extent of the damage will be and whether it would be contained before threatening the banking system at large. Especially in Europe, the outlook is rather grim and the odds of a timely rescue are not favorable. As the central bank is already overstretched, after so many years of QE and negative interest rates, it is likely to lack the tools to fight the next recession and to limit its impact.

Turkey’s story can arguably be seen as a warning and as a cautionary tale. While governments and central banks will dismiss it, individual investors should not. Separating the signal from the noise has always been crucial in forming solid strategies and in planning for the future.

At this stage, when the signs of a widespread economic slowdown can already be seen on the horizon, the necessity of a physical precious metals position is imperative for any responsible investor who wishes to preserve their wealth.

P.O. (FT) UK store closures set to top 1,000 as use of CVAs mounts


Excerpt:  
«Jamie Oliver, the celebrity chef whose restaurant chain, Jamie’s Italian, filed for a CVA last year at the time described a “perfect storm” of “rents, rates, the high street declining, food costs, Brexit [and an] increase in the minimum wage”».

P.O.

Having lived in London for almost 6 years, what strikes me is not the number of retail groups that are going under.

What strikes me is the lengh time it took them to go under.

Retail shoping in London is outrageously expensive and probably the worst price vs quality relation in the World.

Retail shops pay extremely high rents, are overstaffed, and usualy sell, or try to sell,some of the more uninteresting goods in the World.

Years ago in a New Bond Street shop, of an Italian shoe maker, i asked why the exact same shoes (that were perfect for me) that i had bought one week earlier in Paris, costed 3 times more.

And the answer was:

” Here in London we dont mark items according to what they costed us.
We mark them according to the price we think we can sell for”

This really explains it all…

Francisco (Abouaf) de Curiel Marques Pereira



(FT) UK store closures set to top 1,000 as use of CVAs mounts
Debenhams, Paperchase and Monsoon pursue insolvency

O.P. O caso da Boeing

O.P.

O caso da Boeing

O Relatório perliminar do acidente com o Boeing das linhas aéreas Etíopes arrasa a Boeing.
Sem apelo nem agravo.
Os pilotos fizeram tudo conforme os manuais, e inclusivé fizeram os procedimentos introdhzidos pela Boeing depois do acidente com o mesmo avião de uma companhia aérea da Indonésia.
E mesmo assim perderam irremedialvelmente o controlo do avião. 
Como fenho uma licença de Piloto Particular de Aviões ( monomotores, sujeito a provas reduzidas) sei bem o que é se perder o contrôle de um acião, num monomotor, quanto mais num avião a jacto enorme
Sempre me pareceu que estavamos perante um defeito de fabrico que punha em causa a credibilidade da Boeing depois do caso dos incêndios nos chamados “aviões de plastico”.
Há dezenas de biliões de dolares de encomendas canceladas.
E não há mais porque a Airbus não tem capacidade de resposta perante um eventual  aumento brutal da procura.
Se não tivesse produção de aviões militares eu diria que a sobrevivência da Boeing poderia estar em causa.
Mas como tem entendo que não.
Mas nunca se sabe.
Diz o Povo na sua infindável sabedoria que uma desgraça nunca vem só.
Ou seja, mais um caso como este e  na minha opinião a Boeing não sobrevive como constructor de aviões para a Aviação Civil.

Francisco (Abouaf)de Curiel Marques Pereira