Bloomberg American Airlines Group Inc is making additional cuts to its international flight plans this summer because of ongoing delays in deliveries of Boeing Co 787 Dreamliners, a setback for the carrier just as global travel is expected to begin recovering from a pandemic slump. The airline will delay until November from June the start of a flight between …

  Bloomberg Rice Krispies are the latest victim of US supply-chain troubles. Shoppers around the country have taken to social media to probe the absence of the Kellogg Co cereal brand from their grocery-store shelves. The company confirmed the problems, citing a temporary shortage due to manufacturing constraints. “We do not have an estimated date on when it will be …

Bloomberg Steve Dickson, who led the US Federal Aviation Administration (FAA) through a tumultuous period following fatal crashes of Boeing Co’s 737 Max and the Covid-19 pandemic, is stepping down from the agency at the end of March. Dickson informed FAA’s employees in an email of his plan to depart less than three years into his five-year term. He called …

Bloomberg Expedia Group Chief Executive Officer Peter Kern believes that 2023 will be the year that we stop predicting a travel recovery and actually start enjoying it. But before then, he forecasts something bolder: “Summer 2022 will be the busiest travel season ever,” he tells Bloomberg, speaking over Zoom in Wyoming. “We’ve been talking about pent-up demand for a long …

  Bloomberg Cathay Pacific Airways Ltd is to require all passengers flying to mainland China from Hong Kong to present a negative Covid-19 test result within 48 hours of departure, according to a statement. The move is a “precautionary measure to reduce the risk of exposure” for passengers and Cathay employees, and will start on February 23, the Hong Kong-based …

Bloomberg Embraer SA’s board approved a pause in development of the slow-selling E175-E2 jetliner for another three years, further delaying the aircraft’s market debut. The Brazilian planemaker plans to resume work following the hiatus, targeting an entry into service between 2027 and 2028, Embraer said. The 80-seat aircraft is the smallest of a three-jet family manufactured by Embraer that target …

  Bloomberg More European Central Bank (ECB) officials are conceding that interest rates will likely need to rise late this year in the face of a stronger inflation outlook. A consensus is emerging before the March 10 policy meeting to set September as the end-date for asset purchases, according to people familiar with the situation who asked not to be …

  Bloomberg Crypto platform Nexo appears to be changing the terms for US customers to a product that offers the ability to earn high interest rates on crypto deposits. The decision follows the US Securities and Exchange Commission’s recent settlement with BlockFi Inc. over a similar product. In a statement posted to its official subreddit by a moderator who isn’t …

  Bloomberg JPMorgan Chase & Co economists said the Federal Reserve is likely to raise interest rates by 25 basis points at nine consecutive meetings in a bid to tamp down inflation. The bank is joining others on Wall Street in ramping up bets for faster policy tightening, after US consumer prices posted the biggest jump since 1982 in January. …

  Bloomberg Credit Suisse will pay $81 million to resolve a lawsuit by some US pension funds over control of the more than $1 trillion market for stock lending and agreed to help with similar cases pending against other banks. It’s the first settlement of a class-action lawsuit filed in 2017 alleging a group of major banks blocked development of …