December 17, 2019 Weekly Report

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Highlight of the Week

Boeing halts production of 737 MAX Jet

  • The company announced Monday they would halt production in January – the MAX had two fatal crashes in March
  • Boeing is the largest manufacturing exporter in the US and the MAX is their best-selling plane

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PNC and Venmo confrontation foreshadows future FinTech challenges

  • PNC customers have taken to Twitter to complain about issues connecting to the popular peer-to-peer payments app, Venmo
  • Venmo shot back tweeting, ‘users should tweet @PNCBANK to let them use the financial services apps they need’
  • The disagreement underlines the issue of data owned by the bank versus open banking – PNC aims to protect against fraud, particularly on providers that utilize ‘aggregators’ which function like glue to help businesses, governments, and donors easily connect with a variety of payment platforms and their customers

Amazon Prime blocks FedEx ground deliveries

  • In heated holiday rivalry, Amazon will block FedEx ground shipments declaring a decline in FedEx performance
  • FedEx leadership stated only a small number of customers would be affected

Drew Brees sets touchdown record

New Orleans Saints Quarterback breaks Peyton Manning’s TD record

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