Boeing posts first annual loss in over twenty years

Boeing posted its first annual loss since 1997 as the fallout from the 737 MAX grounding continues... this as it admitted that the fallout of the scandal would cost a total of 18 billion dollars, double previous estimates. And more losses could be on the way as the plane maker said it would be cutting production of its current main money maker, the 787 Dreamliner aircraft. But shares opened 3 percent higher on Wednesday, as some analysts had expected even worse.