FAA backs Boeings plan to fix batteries
The Federal Aviation Administration on Tuesday approved Boeings plan to test its proposals to fix the battery problems that have grounded its 787 jets since mid-January. The FAA could still demand changes in Boeings new battery design if problems develop in the tests, which will take weeks. The decision marks a major step in Boeings efforts to get the jets back in the air. But it also could sharpen a debate among some safety experts over how certain Boeing and the FAA are that the changes will eliminate the risk of smoke or fire in the batteries.
Dow marks another increase
NEW YORK The Dow Jones industrial average logged its longest winning streak in two years barely. A tiny gain gave the Dow its eighth straight increase Tuesday, matching its longest series of gains since February 2011. The Dow rose 2.77 points, or 0.02 percent, to 14,450.06, having wavered between small gains and losses for most of the day. The broader Standard & Poors 500 ended down 3.74 points, or 0.2 percent, at 1,552.48. The Nasdaq composite dropped 10.55 points, or 0.32 percent, to 3,242.32.
Crop-insurance scheme uncovered
RALEIGH, N.C. Federal investigators have unraveled a scheme among dozens of insurance agents, claims adjusters, brokers and farmers in eastern North Carolina to steal at least $100 million from the government-backed program that insures crops. Authorities say the investigation is already the largest such ring uncovered in the country. Forty-one defendants have pleaded guilty or reached plea agreements after profiting from false insurance claims for losses of tobacco, soybeans, wheat and corn.
New York Times and The Associated Press contributed.