European plane maker Airbus will take over parts of Spirit AeroSystems as it and Boeing carve up the key supplier in an effort to improve production quality.

Europe’s Airbus has finalized an agreement to take some assets from Spirit AeroSystems, both companies said Monday, completing a critical part of a transatlantic carve-up of the struggling supplier with US rival Boeing.

As part of today's Market Minute, Brad Smith examines some of the trading session's top stories. China's Huawei is reportedly testing a new artificial intelligence (AI) chip to rival Nvidia (NVDA), according to reporting from the Wall Street Journal.