Seattle Pride parade drops Amazon, Boeing pilot found not guilty, Toshiba shareholders reject proposals

Yahoo Finance Live's Julie Hyman reports trending business headlines, which include Seattle Pride cutting ties with Amazon as its parade sponsor, a jury finding former Boeing pilot not guilty in a 737 Max fraud case, and Toshiba shareholders rejecting two competing proposals from management and activist investors.

Video Transcript

JULIE HYMAN: Seattle Pride is parting ways with Amazon. The organization dropping the e-commerce giant as a parade sponsor due to Amazon's donation record. Seattle Pride says Amazon gives contributions to politicians who actively propose and support anti LGBTQ legislation. And the group is quote, "reviewing our corporate partnership to ensure our partners words and actions align with our organization's values." Amazon had been a sponsor for the event previously, and of course, is one of Seattle's largest employers.

The only person to face criminal charges over Boeing 737 MAX flaws was found not guilty. Former Boeing pilot Mark Forkner was accused of deceiving FAA regulators about the amount of training the pilots needed for the 737 Max flight control system, which later played a role in two deadly crashes. Only computer exercises for pilots were needed instead of more substantial practice in simulators that could have cost Boeing millions of dollars. A jury in Texas acquitted Forkner after deliberating for less than two hours.

And the future of Toshiba hangs in the balance after shareholders voted down two competing proposals from management and activist investors. Now one plan was to spin off Toshiba's devices unit, and another called for the company to seek buyout offers. Both bids though failed to reach the required 50% of the vote. The lack of a decision means there's no likely immediate end to the four-year battle between bosses and activist shareholders. Soz.