By David Shepardson WASHINGTON (Reuters) -Critical U.S. air traffic control (ATC) facilities face staffing challenges and the Federal Aviation Administration “lacks a plan to address them,” a government audit released on Friday found. The Transportation Department Office of Inspector General said the staffing issues pose risks to the continuity of air traffic operations. U.S. airlines…
By Andrew Chung and John Kruzel WASHINGTON (Reuters) – The U.S. Supreme Court on Friday backed cryptocurrency exchange Coinbase Global Inc’s bid to halt customer lawsuits while it pursues appeals aimed at moving the disputes out of courts and into private arbitration, which businesses often prefer over litigation. The justices, in a 5-4 decision, overturned…
By Lewis Jackson and Scott Murdoch SYDNEY (Reuters) -PricewaterhouseCoopers Australia is looking to sell its government, education and healthcare practice to private equity firm Allegro Funds, according to a person familiar with the matter, as the firm battles the fall out from a major scandal. The scandal, which first broke in January, centres around a…
COPENHAGEN (Reuters) -Danish brewer Carlsberg said on Friday it had signed an agreement to sell its Russian business but did not name the buyer or the agreed price for the transaction, which is subject to an extensive regulatory review by Moscow. Carlsberg, the Western brewer most exposed to Russia, said last year it expected a…
By Jonathan Stempel (Reuters) – Home Depot has agreed to pay $72.5 million to end a long-running class-action lawsuit alleging the largest U.S. home improvement retailer underpaid workers in California. The preliminary settlement was filed late Thursday in a San Francisco federal court, and requires a judge’s approval. Half of the settlement, after taking out…
By Richa Naidu and Sybille de La Hamaide LONDON/PARIS (Reuters) -Danone and Kellogg are among 75 consumer goods companies that French authorities have asked to cut prices, according to a list seen by Reuters that sources say the government is using for the initiative. Finance Minister Bruno Le Maire said on June 9 he had…
By Kylie MacLellan, Lawrence White and Muvija M LONDON (Reuters) -British banks agreed on Friday to give homeowners who miss mortgage payments a year of grace before foreclosing and to protect credit scores of borrowers who change loan terms, as the government sought to ease the strain of rising interest rates. Finance minister Jeremy Hunt…
By Kannaki Deka (Reuters) -CarMax Inc said on Friday that vehicle affordability remains a challenge due to high interest rates and low consumer confidence, but cost cuts helped the used-car retailer post a quarterly profit beat. Shares of the company jumped 8.8% to $85.25 in early trade, as it also reported a better-than-expected first-quarter revenue….
(Reuters) – Southwest Airlines said on Friday it had reached a tentative agreement with the union representing the company’s mechanics and related employees. The Aircraft Mechanics Fraternal Association (AMFA), which represents more than 2800 Southwest employees, said the agreement, if ratified by members, will elevate salaries of aircraft maintenance technicians to “industry-leading” standards. Employees and unions…
(Reuters) -Hong Kong’s Cathay Pacific Airways on Friday forecast its first half-year profit in three years, buoyed by a strong rebound in travel demand and one-off gain from a stake sale in Air China. The city’s flagship carrier had posted record losses for the last three years as it parked much of its fleet during…
