Articles by Alwyn Scott

GE Investors Handed Setback in Investor Lawsuit Over Insurance Liabilities

A federal judge in Manhattan on Thursday partially dismissed a lawsuit by investors in General Electric Co. that accused the company of concealing $24 billion in insurance liabilities and using fraudulent accounting to prop up its power business. Judge Jesse …

Shareholder Suit Alleges GE Hid Insurance Liabilities, SEC Probe

General Electric Co. was sued on Friday by a shareholder who accused the conglomerate of concealing mounting insurance liabilities and a U.S. Securities and Exchange Commission probe, saying it cost shareholders tens of billions of dollars. The complaint filed by …

Washington-based Spirit Aerosystems Hit with Worker Discrimination Suit

Employees laid off by Spirit AeroSystems Holdings Inc. in 2013 filed a lawsuit earlier this month accusing the aircraft parts supplier of singling them out by age and disability. Twenty-four plaintiffs were named and another 150 may join the case, …

Washington-based Spirit Aerosystems Hit with Worker Discrimination Suit

Employees laid off by Spirit AeroSystems Holdings Inc. in 2013 filed a lawsuit on Monday accusing the aircraft parts supplier of singling them out by age and disability. Twenty-four plaintiffs were named and another 150 may join the case, attorney …

U.S. Issues Draft Rules on Commercial Use of Drones; Insurers Welcome

The U.S. aviation regulator proposed rules on Sunday for commercial drone flights that would lift some restrictions but would still bar activities such as the delivery of packages and inspection of pipelines that have been eyed by companies as a …

After Jet Crashes, Aviation Industry ‘Struggling’ to Re-Train Pilots

As investigators hunt for what caused an AirAsia jet to crash in an equatorial storm on Dec. 28, the aviation industry is still struggling to apply the lessons of accidents in similar weather over the past decade. It is too …

U.S. Drone Regulations Delayed

The United States missed a year-end deadline for publishing new rules on remote-control aircraft, delaying an eagerly awaited step toward using drones in everything from farming to package delivery. Businesses have been clamoring for rules to allow commercial drone flights, …

UK Space Travel Insurer Sees No Spike in Queries after Virgin Crash

UK insurer Pembroke Managing Agency, who recently began offering life coverage for would-be space tourists, said it has seen no increase in interest in the policy following the fatal crash of a Virgin Galactic test space ship last month. The …

U.S. Opens Skies to Test Use of Aerial Drones

The U.S. government took a step on Monday toward opening the skies to aerial drones, authorizing six sites where unmanned aircraft can be tested for a variety of uses. The Federal Aviation Administration already had approved limited use of drones …

Probe of Boeing’s 787 Focuses on Condensation, Emergency Beacon

Officials investigating the fire on a parked Ethiopian Airlines Boeing 787 are focused on how condensation and increased humidity could have sparked the blaze at London’s Heathrow Airport last week, three sources familiar with the probe said. British authorities said …