Boeing advances

funds to supplier

Boeing Co. will advance Spirit Aerosystems Holdings Inc. as much as $350 million as the planemaker gives its most important supplier a financial lifeline ahead of the planned purchase of the company. The advances will be used to support production and readiness to make Boeing aircraft at the rates required by the U.S. planemaker, according to a stock exchange filing on Tuesday. The money must be repaid to Boeing by the end 2026, according to the filing. Spirit this month said that a slowdown in deliveries to Boeing had impacted its liquidity and cash flow, leading to a “substantial doubt” about the aerospace supplier’s ability to continue to as a going concern. The company cited the planemaker’s refusal to accept 737 Max fuselage sections from Spirit that need additional work in Boeing facilities, and the seven-week strike by 33,000 Boeing factory workers.

EU warns Apple

about geo-blocking

Apple Inc. was notified by the European Union that its geo-blocking practices are potentially in breach of consumer protection rules, adding to the iPhone maker’s regulatory issues in the bloc. Apple’s App Store, iTunes Store and other media services unlawfully discriminate against European customers based on their places of residence, according to a European Commission statement on Tuesday. The notification comes as Apple is facing the first-ever fine under the Digital Markets Act for failing to allow app developers to steer users to cheaper deals, Bloomberg News reported last week. That penalty is set to come months after the Cupertino, California-based company was hit with a $1.9 billion fine for similar abuses under the bloc’s traditional competition rules. The geo-locating investigation found Apple media services only allow users to use payment cards issued in the countries they registered their Apple accounts, according to the statement. The App Store also blocks users from downloading apps offered in other countries, the investigation found. A spokesperson for Apple didn’t immediately respond to a request for comment.

EPA to charge

methane fee 

Oil and natural gas companies for the first time will have to pay a federal fee if they emit dangerous methane above certain levels under a rule announced by the Biden administration. The Environmental Protection Agency rule follows through on a directive from Congress included in the 2022 climate law. The new fee is intended to encourage industry to adopt best practices that reduce emissions of methane — the primary component of natural gas — and thereby avoid paying. President-elect Donald Trump is likely to target the fee. Amid a flurry of expected actions he has promised to deregulate the oil and gas industry.