OSI Systems Inc. fell as much as 40 percent, the biggest intraday drop ever, after lawmakers said the company may face a ban on U.S. contracts for using unapproved Chinese-made parts in baggage-screening equipment.
The U.S. Transportation Security Administration’s decision to allow pocket knives on airliners was meant to signal a philosophical shift: focus less on screening everyone for everything, and more on terrorist threats.
The Transportation Security Administration will have to consult with industry groups on decisions like its short-lived move to end the ban on knives aboard airplanes, under a bill the House advanced today.
The U.S. Transportation Security Administration’s plans to loosen rules in place since 2001 appear stalled even as lawmakers, airlines and the public want changes in an approach the agency calls one-size-fits-all.
The U.S. Transportation Security Administration, under court order, will start a rulemaking process on its airport screening machines and full-body pat- downs, including collecting and analyzing public comments.
OSI Systems Inc.’s Rapiscan unit, one of two suppliers of body-scanning machines in U.S. airports, may have falsified tests of software intended to stop the machines from recording graphic images of travelers, a U.S. lawmaker said.