FAA links computer outage to procedural error as U.S. flights return to normal

By David Shepardson and Rajesh Kumar Singh WASHINGTON/CHICAGO (Reuters) -A computer outage that grounded flights nationally on Wednesday and disrupted more than 11,000 flights was caused by a procedural error related to a data file, the Federal Aviation Administration said on Thursday as U.S. airline operations returned to normal. The FAA said its preliminary analysis …

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U.S. FAA says initial review shows outage sparked by procedural failure

WASHINGTON (Reuters) – The Federal Aviation Administration (FAA) said its preliminary analysis of a computer system outage on Wednesday that led to a 90-minute nationwide ground stop and disrupted more than 11,000 flights was prompted by a procedural failure. “The agency determined that a data file was damaged by personnel who failed to follow procedures. …

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China property developer Kaisa faces $102 million in legal claims on bonds – filing

By Scott Murdoch SYDNEY (Reuters) – Hong Kong investment firm Oasis Capital Management has filed a legal claim in New York against Chinese property developer Kaisa Group Holdings to recoup $102.3 million in missed payment and interest from four bonds, a U.S. court filing shows. The documents were lodged on Thursday and showed Oasis was …

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IMF’s Georgieva says Japan not facing increased inflationary pressures

WASHINGTON (Reuters) -International Monetary Fund Managing Director Kristalina Georgieva on Thursday said the Bank of Japan was conducting an appropriate review of its monetary policy stance, but should keep policy accommodative because the country faces low inflationary pressures. Georgieva told reporters that an adjustment to the central bank’s debt yield curve control regime was not …

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Argentina’s inflation rate at 95%, highest since 1991

By Hernan Nessi and Jorge Otaola BUENOS AIRES (Reuters) -Argentina’s annual inflation hit its highest rate in more than 30 years last month as prices almost doubled versus a year ago, official data released on Thursday showed, further eroding consumers’ dwindling purchasing power. In December, consumer prices jumped 5.1% month-on-month, according to national statistics agency …

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Shareholders sue Southwest Airlines over flight meltdown

By Jonathan Stempel (Reuters) -Shareholders filed a lawsuit against Southwest Airlines Co on Thursday, accusing the carrier of fraudulently concealing problems that led last month to an operational meltdown and more than 15,000 flight cancellations. According to the proposed class action filed in federal court in Houston, Southwest publicly downplayed or failed to disclose serious …

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