FAA proposes directive after lapse on Boeing Dreamliner aircraft

U.S. aviation regulators proposed a directive to require maintenance record checks or inspections of some of Boeing Co.’s 787 Dreamliners after the planemaker reported a missed test on a part for the main landing gear.

The proposed directive, which would apply to all 787-8, 787-9, and 787-10 models, would affect an estimated 156 US-registered aircraft, according to the Federal Aviation Administration. In the regulatory filing, known as an airworthiness directive, the agency said Boeing reported that an inspection designed to detect cracks or defects wasn’t performed during the manufacture of the landing gear part.

The FAA said a subsequent investigation determined the safety lapse “was caused by human error” and was isolated to a single technician. Undetected cracks could lead to a fracture of the part — an “unsafe condition” that may cause the landing gear to collapse, the regulator said.

The finding comes as Boeing faces heightened scrutiny from regulators after a mid-air blowout on one of its 737 Max jets in January uncovered manufacturing and quality lapses at its factories. Since then, the planemaker has made strides to try to address the issues, including by encouraging more employees to report problems they see on the shop floor.

Apple breaks out of recent sales slump as it gears up to make its leap into the AI craze

Apple snapped out of a prolonged sales slump during its most recent quarter as the trendsetting company prepares to launch into the artificial intelligence craze with an arsenal of new technology that’s expected to juice demand for its next iPhone.

The fiscal third-quarter results announced Thursday covered an April-June period that’s typically a sluggish stretch for Apple as its loyal customer bases awaits the next version of the iPhone that’s traditionally unveiled shortly after Labor Day.

Even so, Apple boosted its sales from a year ago — a welcome reversal of fortune on the heels of five consecutive quarters of year-over-year revenue declines.

This time around, Apple’s revenue rose 5% from a year to $85.78 billion — a figure that exceeded analysts’ projections. The Cupertino, Calif., company earned $21.45 billion, or $1.40 per share, an 8% increase from the same time last year. The profit also topped analyst forecasts.

Amazon reports boost in quarterly profits but misses revenue estimates

Amazon reported a boost in its quarterly profits Thursday, but the company missed revenue estimates, sending stocks lower in after-hours trading.

The Seattle-based tech company said it earned $13.5 billion for the April-June period, higher than the $10.99 billion industry analysts surveyed by FactSet had anticipated. Amazon earned $6.7 billion during the same period last year.

Earnings per share for the second quarter came out to $1.26, higher than analysts expectations of $1.03.