U.S. Markets close in 2 hrs 44 mins

Embraer Jumps With Boeing Deal Talks in Final Stage

Samy Adghirni, Julie Johnsson
Embraer Jumps With Boeing Deal Talks in Final Stage

Embraer SA jumped the most in two months as its proposed commercial-jet venture with Boeing Co. cleared a major hurdle. Brazilian President Michel Temer has endorsed the partnership in principle, said a person familiar with the discussions, a crucial step since the Brazilian government has veto power over any Embraer tie-up. Boeing and Embraer are getting closer to a pact that would forge the second global alliance between major airplane manufacturers.