Bloomberg A drone developed with the backing of UK defense giant BAE Systems Plc has become the first plane since the dawn of aviation to be maneuvered without the aid of wing flaps. The Magma model is flown by blowing air from its engine at supersonic speeds through slots in the wings. The technology is lighter, more reliable and cheaper …

Bloomberg Fiat Chrysler Automobiles NV’s CEO Mike Manley said he sees “very significant opportunities” to partner with other automakers on autonomy and electrification projects in the next two to three years. Fiat is seeking to fix a business that is losing money in Asia and Europe while sales in North America, which generates the lion’s share of the company’s profits, …

Bloomberg Two Federal Reserve officials laid out the case for a possible interest-rate cut just days after Chairman Jerome Powell said there was no reason to move in either direction. Two other US central bankers sounded more comfortable with the current policy stance. St. Louis Federal Reserve Bank President James Bullard and Chicago Fed President Charles Evans, both policy voters …