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  Bloomberg American Airlines credited Covid as a key reason it pursued a controversial business partnership with JetBlue Airways Corp., saying it needed the alliance to stay competitive in the heavily trafficked US Northeast. “Our business was hemorrhaging cash” in the spring of 2020, American’s CEO Robert Isom testified in a federal court in Boston, adding that the airline was …

  Bloomberg US aviation regulators are set to approve a long-delayed rule change giving flight attendants an extra hour of rest between shifts. The decision is expected to be the focus of a press briefing in Washington with Federal Aviation Administration (FAA) acting Administrator Billy Nolen. Flight attendants currently must be given at least nine hours of rest between shifts. …

  Bloomberg JBS SA, the world’s largest meat supplier, will discontinue operations at its US plant-based unit Planterra and focus on growing markets for alternative proteins in Brazil and Europe. The shutdown comes amid softening consumer demand for plant-based proteins. Maple Leaf Foods Inc. recently decided to reduce the size of its plant-based segment after a review found demand will …

  Bloomberg The Czech Finance Ministry told the country’s largest banks it plans to impose a windfall tax on them to fund energy subsidies, according to a summary of the meeting. The government would apply a tax rate of 60% on lenders’ extraordinary profit, seeking to raise about 25 billion koruna ($1 billion) a year, according to a note summarising …

  Bloomberg New Zealand’s central bank is poised to raise interest rates by half a percentage point for a fifth straight time, and some economists are tipping it will need to keep tightening well into next year as an aggressive Federal Reserve weakens the kiwi dollar. The Reserve Bank will lift the Official Cash Rate to 3.5% from 3% in …

  Bloomberg Canadian Imperial Bank of Commerce (CIBC) named Chief Risk Officer Shawn Beber as the new head of its US division and tapped Susan Rimmer to lead the company’s global corporate and investment banking franchise. Current US chief Mike Capatides will take over as the bank’s vice chair in the country when the changes become effective on November 1, …

  Bloomberg The Philippine central bank said it is taking steps to “manage any disruption” in the financial market, as it asked people not to take undue advantage of developments. “We ask those who have the means not to take undue advantage of changing market conditions,” Bangko Sentral ng Pilipinas said in an emailed statement. “This does not help the …

Bloomberg A wild first month for Liz Truss’s government has seen at least £300 billion ($340 billion) wiped from the combined value of the nation’s stock and bond markets. While assets globally have been roiled by central bank efforts to tame surging inflation, confidence in the UK has been shaken. The September selloff on concerns about the Truss government’s tax …

Bloomberg With the global economy likely to slow down next year, tech stocks and US equities are looking more attractive, according to Citigroup Inc. strategists. Strategists led by Robert Buckland expect 18% returns for global stocks by the end of 2023 but warn “it will likely be a volatile ride.” Growth strategies will be back in play as investor focus …

  Bloomberg Boeing Co. doesn’t expect its 737 Max 10 model to be ready for certification until next summer at the soonest, US aviation regulators told a key lawmaker. The planemaker’s latest plan was relayed in a letter from Federal Aviation Administration (FAA) acting Administrator Billy Nolen to Senator Roger Wicker, a Mississippi Republican. The comments provided the latest indication …