737 max

The latest safety lapse at Boeing renews concerns about the company's influence in Washington and whether federal regulators have delegated too much of their oversight authority to its employees.

The airplane manufacturer admits deceiving regulators about the safety of a flight control system blamed in two crashes that killed 346 people. Critics call the settlement "a slap on the wrist."

The airplane manufacturer said it will eliminate nearly 16,000 jobs. Airlines are on pace to lose about $300 billion this year and aren't likely to be buying planes anytime soon.

The aircraft giant is the top U.S. exporter, and its decision to suspend production of the 737 Max is likely to ripple through the supply chain. Several analysts project that the move will cut growth.