Downward.(Ariane 5, the spacecraft launched by the European Space Agency, went off course and had to be destroyed; Boeing has canceled its partnership with McDonnell Douglas to construct a space shuttle; these and other business items are discussed)(Business This Week)(Brief Article)

Economist (US), The, June, 1996

The European Space Agency saw $500m-worth of uninsured spacecraft and scientific satellites come down in flames when Ariane 5 had to be blown up 40 seconds after taking off on its maiden flight from French Guiana. The disaster, apparently caused by faulty computer software sending the rocket off course, sets back the agency's plans to dominate the competitive market for commercial space transport, worth $3 billion a year.

Boeing pulled out of a partnership with McDonnell Douglas to build a new American space shuttle. NASA will award a $900m contract for a prototype next month.

German banks devised a plan to save Kl*ockner-Humboldt-Deutz from bankruptcy. The stumbling engineering firm will receive more than DM650m ($425m) in cash and forgiven loans, most...

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