May 1, 2020 - Economy & Business

Boeing declines government funding after raising $25B in bond deal

A factory where Boeing manufactures the 737 MAX airplane on April 29 in Renton, Washington. Photo: Stephen Brashear/Getty Images

Boeing does not expect to seek aid from the federal government to offset losses exacerbated by the coronavirus crisis, after selling $25 billion in bonds in the public market, the company said in a Thursday press release.

Flashback: Boeing sought $60 billion in federal aid for the aircraft industry, including suppliers, in March. The Treasury Department had set aside up to $17 billion for Boeing as part of its $2 trillion CARES rescue package, the Wall Street Journal reported earlier this month.

Details: The company's seven-part bond offering, which WSJ reports is "one of the largest-ever," includes maturities ranging from three to 40 years.

Background: Boeing's production shutdown in the aftermath of two fatal crashes last year had already caused forecasts for the company's GDP this year to shrink.

Thought bubble from Axios’ Joann Muller: The huge bond deal is a vote of confidence in Boeing’s staying power, despite the uncertainty caused by the pandemic. Accepting federal aid would have been controversial, as Boeing already faced financial difficulties because of the grounding of its best-selling plane, the 737 Max, prior to the pandemic. CEO David Calhoun also balked at the idea of giving the U.S. Treasury a stake in the company.

Go deeper: Coronavirus threatens to further delay return of Boeing's 737 MAX

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Primary elections test impact of protests, coronavirus on voting

Election official at a polling place at McKinley Technology High School in Washington, D.C. Photo: Drew Angerer/Getty Images

In the midst of a global pandemic and national protests over the death of George Floyd, eight states and the District of Columbia held primary elections on Tuesday.

Why it matters: Joe Biden, the presumptive Democratic nominee, needs to win 425 of the 479 delegates up for grabs in order to officially clinch the nomination. There are a number of key down-ballot races throughout the country as well, including a primary in Iowa that could determine the fate of Rep. Steve King (R-Iowa).

Updates: George Floyd protests continue past curfews

Police officers wearing riot gear push back demonstrators outside of the White House on Monday. Photo: Jose Luis Magana/AFP via Getty Images

Protests over the death of George Floyd and other police-related killings of black people continued Tuesday across the U.S. for the eighth consecutive day, prompting a federal response from the National Guard, Immigration and Customs Enforcement and Customs and Border Protection.

The latest: Protesters were still out en masse even as curfews set in in New York City and Washington, D.C.. Large crowds took a knee at Arizona's state capitol nearly an hour before the statewide 8 p.m. curfew, and a peaceful march dispersed in Chicago ahead of the city's 9 p.m. curfew.

RNC officially plans to move 2020 convention to new city

President Donald Trump, Vice President Mike Pence and their families on the final night of the Republican National Convention in Cleveland, Ohio, on July 21, 2016. Photo: David Hume Kennerly/Getty Images

The Republican National Committee is scrambling for a new convention host city after President Trump said North Carolina’s coronavirus restrictions will make Charlotte unworkable for the crowds he’s counting on.

Driving the news: The organization is still hoping to conduct the convention's "official business" in Charlotte, an RNC spokesperson said. But the part that most Americans think about the convention — the spectacle of the speakers and the president accepting the Republican nomination itself — will be held in a different state with more relaxed COVID-19 laws.