Good morning. Boeing has more parts trouble, but this time it doesn’t stem from manufacturing snafus or the 737 jet. The blame goes to Russia sanctions still rippling through the jet maker’s supply chain.

• The issue: In the opening days of Russia’s invasion of Ukraine, a maker of a temperature-regulating part for Boeing’s 787 Dreamliner ceased its Russian operations and shifted production west. At the time, Boeing was building so few of the jets that the supplier, RTX, was able to keep up with demand. But now the jet maker is trying to increase production of the wide-bodies, and RTX’s new factory lines in the U.S. and U.K. aren’t making enough.
   
• A demonstration of relatively simple glitches' impact on a global supply chain: Boeing’s inability to secure enough heat exchangers, a critical but relatively basic part akin to a radiator, in part led it to warn investors that it won’t deliver as many of the Dreamliner jets as anticipated this year.
   
• Impact on Boeing: The slowdown will sap the company’s already strained cash flow, with fallout extending to airlines and the flying public. American Airlines last week blamed Dreamliner delays in announcing moves to trim some international and long-haul routes this year and next.

Also:

• Boeing Locks Out Firefighters at 737 Factory Amid Contract Dispute

HSBC’s green credentials come under fresh scrutiny.

HSBC’s green credentials are under fresh scrutiny, with activist shareholders pressing the Asia-focused bank to clarify plans to spend up to $1 trillion on sustainable finance in the coming years.

The investor group, which has $892 billion in assets under management, said Friday that it intends to ask the bank at its annual general meeting to explain how it will spend its green funds. It also wants the bank to set a funding target for renewable energy.

Texas Democrat Henry Cuellar indicted on corruption charges.

Conservative Democrat Rep. Henry Cuellar, who represents a competitive district on the Texas-Mexico border, was charged Friday alongside his wife on allegations that they took nearly $600,000 in foreign bribes, the latest development in a long-running FBI probe examining the congressman’s work with Azerbaijan.

From 2014 to 2021, Cuellar and his wife, Imelda Cuellar, accepted bribes from an Azerbaijan-controlled energy company and a Mexican bank, in exchange for boosting their interests on Capitol Hill, prosecutors said in an indictment charging them with conspiracy, bribery, money laundering and other charges.

• A $16.5 billion deal aimed at boosting Novo Nordisk’s production of the weight-loss drug Wegovy is drawing extra scrutiny from U.S. antitrust regulators.
   
• Hong Kong’s securities regulator has started criminal proceedings against hedge fund management firm Segantii Capital Management, the firm’s founder and a former trader over insider dealing.
   
• Exxon Mobil has completed its $60 billion acquisition of rival Pioneer Natural Resources after reaching an agreement with antitrust regulators, closing out the largest oil-and-gas deal in decades.
   
• Electricity providers in Europe will soon have to perform cybersecurity risk assessments for regulators, including disclosing incidents, reporting threats and implementing safeguards, under coming rules that aim to prevent hacks from causing blackouts in multiple countries.
   
• Vernon Hill, the builder of Commerce Bank and Metro Bank, was also behind toppled Republic First Bancorp in Philadelphia, which was seized by regulators in late April, after shareholders had ousted Hill in a last-ditch effort to save the bank. 
   
• The political conflict over socially conscious finance is a boon for smaller investment banks in one contentious market: Texas.

Geopolitics takes a central role in supply chains.

Of all the decisions Markus Group is making about its new mechanized lift to help Americans more easily access their attics, none may be more complicated than where to build the product. “Ten years ago I would have just immediately said China,” said Mark Boone, owner of the Raleigh, N.C., contract manufacturer.

China has everything Boone needs for his Stoaway Lift: steel for the frame, low-cost computerized machines that can fashion parts, and the semiconductors and radio communication systems for the lift’s remote operation.

But U.S. trade relations with China are deteriorating, raising the potential that Washington could raise tariffs on Chinese goods or that war could break out over Beijing’s claims on Taiwan. So Boone is scouting factories in Poland and Romania, where suppliers are harder to find and labor and material costs are higher but where geopolitical risks may be lower.

• The Pentagon is shifting jet fighters, armed drones and other aircraft to Qatar, repositioning its forces to get around restrictions on conducting airstrikes from an air base long used by the U.S. in the United Arab Emirates.
   
• Student demonstrations spreading across U.S. campuses have drawn attention in Beijing, where comments by some officials and state media have conveyed sympathy for the protesters and criticism of what is seen as a U.S. double standard on protest crackdowns.
   
• Talks over a cease-fire deal in Cairo ended on Sunday without progress, said Arab mediators, after Hamas failed to formally respond to an Israeli-Egyptian proposal to pause the fighting in exchange for a release of hostages.
   
• The Iranian assault on Israel last month is likely to have drawn the keen interest of one world leader in particular: North Korea’s Kim Jong Un.

• Warren Buffett is still a big fan of Apple. The legendary investor praised the iPhone maker on Saturday from the stage of his annual meeting, even after revealing that Berkshire Hathaway had slashed its stake in the first quarter. He hinted that tax considerations may have played into the decision.
   
• The U.S. ambassador to the United Nations called for the protection of journalists, as governments around the globe have been making it harder for the media to provide the public with reliable and independent news.

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