BLOOMBERG The massive renovation to New York City’s John F Kennedy International Airport has gotten even more expensive. The Port Authority of New York & New Jersey increased its funding authorisation for the infrastructure portion of the project by about $1 billion, making the new budget $3.9 billion, after costs surged due to higher inflation, soaring labour expenses and supply ...

BLOOMBERG McDonald’s Corp is facing rising unrest among certain US franchisees — a potential stumbling block as the burger chain plots aggressive expansion. Squeezed by higher costs and grumbling at new operating rules, franchisees invited to a meeting with the company’s board will press their case in person. The session will give US operators “an opportunity to share with the ...

BLOOMBERG A coalition of midsize US banks asked federal regulators to extend FDIC insurance to all deposits for the next two years, arguing the guarantee is needed to avoid a wider run on the banks. “Doing so will immediately halt the exodus of deposits from smaller banks, stabilise the banking sector and greatly reduce chances of more bank failures,” the ...