A congressional investigation partly attributed Boeing 737 Max's design and development and the Federal Aviation Administration's (FAA) failure in the certification process and oversight of the planemaker to the two fatal crashes.
The nearly 250-page report described Boeing as having a "culture of concealment" or unwillingness to share technical details.
The report added that the regulatory system under the FAA was "fundamentally flawed" and that there was an overly close relationship between Boeing and the FAA, which compromised the process of safety certification.
US representatives said that the FAA was, in effect, in Boeing's pocket, adding that "at the behest of Boeing" FAA management "overruled" its own technical and safety experts.
The report also identified a series of faulty technical assumptions by Boeing's engineers, lack of transparency on the part of Boeing's management, and grossly insufficient oversight by the FAA.
The two crashes involving Boeing 737 Max occurred in Indonesia and Ethiopia in March 2019, which resulted in 346 deaths.


Moody’s Upgrades Vodafone Hybrid Debt Ratings to Baa3
Nordson Stock Rises as Q3 Earnings Beat Estimates, Outlook Raised
Moderna Short Sellers Hit With $4.8 Billion Loss as Stock Soars
Schott Pharma Stock Rises as Barclays Upgrades Rating on Growth Outlook
Unitree Robotics Shares Soar Over 600% in Shanghai Market Debut
Toyota, Honda Shares Rise on Possible U.S.-Canada Auto Tariff Cut
Coty Revenue Beats Estimates as Beauty Demand Holds Firm
Google to Move All Pixel Production Out of China by 2027
OpenAI Tightens AI Safety Monitoring After Security Incidents
Lockheed Martin Secures $153.5 Million in U.S. Defense Contracts
Shein Targets $26B-$27B Valuation for Hong Kong IPO
Anthropic Eyes $10B-Plus Credit Line Ahead of Potential IPO
REPAY Stock Rises After Visa Platform Connect Collaboration
Hermès Stock Downgraded by RBC as Luxury Growth Premium Narrows
SEC Sues Former Tricolor Executives Over $1.9 Billion Investor Fraud Scheme 



