Boeing said it has finished more than half of the testing on its proposed battery fix for the 787, with the rest of the ground and flight tests coming in the next several days.
The results so far have been in line with the testing Boeing did when it was developing the fix, spokesman Marc Birtel said Wednesday.
Smoldering batteries -- including one fire on the ground -- prompted air safety authorities to ground the world's 787s in mid-January. Boeing has developed what it believes is a permanent fix, including more heat insulation and a system for venting battery gases outside of the plane.
Monsanto profit rises 22 percent in second quarter
WASHINGTON -- Monsanto reported Wednesday that its income increased 22 percent in the agriculture products company's second quarter on strong sales of biotech seeds, particularly in Brazil and other emerging markets.
The company boosted its full-year earnings guidance, citing its strong performance in the first half of the year.
The St. Louis company said it earned $1.48 billion, or $2.74 per share in the three months ended Feb. 13, up from $1.21 billion, or $2.24 per share, in the same quarter a year ago.
Monsanto Co.'s sales increased 15 percent to $5.47 billion, led by genetically modified corn seeds, the company's best-selling product.
Analyst: 60-inch Apple iTV to launch this year
NEW YORK -- It's no secret that Apple wants to get into the living room by making its own TV set, and there have been plenty of rumors and reports about how and when it's going to happen.
Now an analyst says he's learned that the set will go on sale late this year, for $1,500 to $2,500.
In a research note Wednesday, Brian White of Topeka Capital Markets says the "iTV'' will be 60 inches on the diagonal, but could also come in 50- and 55-inch versions. Apple will also release a small "iRing'' that fits on the viewer's finger, allowing the user to control the screen by pointing, White says.
Poll finds caution 5 years after financial crisis
BOSTON -- Americans have grown more cautious and disciplined in handling their money since the financial crisis struck in 2008, a survey by a leading mutual fund company suggests.
People say they don't spend as much, save as little or embrace as much risk as they did before the crisis, according to a survey of nearly 1,200 people by Fidelity Investments.
As a group, people say they're saving more in 401(k) retirement plans and reducing debt.
Dow Jones average falls 111.66 points
The Dow Jones industrial average fell 111.66 points, or 0.8 percent, to 14550.35. The Standard & Poor's 500 index dropped 16.56 points, or 1.1 percent, to 1553.69. The Standard & Poor's 500 index dropped 16.56 points, or 1.1 percent, to 1553.69.
Benchmark oil for May delivery dropped $2.74, or 2.8 percent, to close at $94.45 a barrel on the New York Mercantile Exchange. Brent crude, used to price many kinds of oil imported by U.S. refineries, was down $3.58, or 3.2 percent, to end at $107.11 per barrel on the ICE Futures exchange in London.
Heating oil lost 9 cents to finish at $3 a gallon. Natural gas gave up 7 cents to end at $3.90 per 1,000 cubic feet.