Axios

Boeing must comply with a Federal Aviation Administration mandate to address quality-control issues before it can increase production in its troubled 737 MAX jets, Transportation Secretary Pete Buttigieg said on Wednesday.

Why it matters: Federal inspections of Boeing facilities revealed several issues with its jet production process after one of its 737 MAX 9 jets experienced a mid-flight door plug blowout.

Home Depot is spooking the calendar with its earlier-than-ever release of Halloween merchandise like its 12-foot skeleton.

Why it matters: The home improvement store chain is the first major retailer to push out fall holiday decor months ahead of summer and earlier than last year.

Boeing burned through almost $4 billion in cash in the first quarter and revenue fell 8% from a year ago, due mainly to struggles in its commercial aircraft business and efforts to implement fixes.

Between the lines: The company delivered 83 commercial planes during the quarter, 36% less than a year ago, and reported a $1.14 billion loss from operations from the segment.

• In its troubled 737 program — the company's bestselling plane — it slowed production to incorporate fixes around quality management and to implement its plan based on feedback from an FAA audit.

🏠 Mortgage rates touched 7.5% in April, the highest they've been since last fall. (Axios)

⚖️ U.S. prosecutors requested a 36-month prison sentence for Binance founder Changpeng Zhao. (Axios)

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Companies like Amazon are tacking on new fees and surcharges on top of the regular subscription fees they already charge.

Why it matters: Subscription fatigue is real and growing, testing the limits of consumer appetites for convenience.

Mortgage rates touched 7.5% in April, the highest they've been since last fall, per Mortgage News Daily data.

Why it matters: Our frozen housing market may not unthaw this spring.

Changpeng Zhao (CZ), the founder of Binance, the world's largest crypto exchange, will be sentenced next week in federal court in Seattle, and the government is looking for more prison time than originally thought.

Why it matters: CZ is the biggest fish in the relatively young industry of cryptocurrency, until recently running the largest and most far-reaching venue for trading, launching and making bets on digital assets.

One of the most important questions for the economy in 2024 is whether the surge in worker productivity that occurred in 2023 will prove to be both real and durable.

Why it matters: The answer will determine whether last year's combination of robust growth and falling inflation can continue, driving Americans' incomes higher and giving the Federal Reserve a green light for interest rate cuts.

The big rise in interest rates this year has drawn renewed attention to the balance sheets of banks in general — and of Bank of America in particular.

Why it matters: If you look at the market value of BofA's assets, the bank starts to look weaker than would befit its too-big-to-fail status.

A new card from the buy now, pay later company Klarna shows that it's possible to build a credit card that isn't designed to trap users in a so-called sweat box.

Why it matters: Only 33% of Americans pay off their credit cards in full every month, per the Philly Fed.