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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UK first-time home-buyers’ mortgage costs highest since 2008: Nationwide

LONDON (Reuters) – Mortgage costs for first-time home-buyers in Britain have risen to their highest since 2008, reflecting a surge in interest rates over the past year, Nationwide Building Society said on Friday. The average monthly mortgage payment for a new first-time buyer in the final quarter of 2022 was equivalent to 39% of a …

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Venezuelan economy grew above 15% in 2022, president says

By Deisy Buitrago CARACAS (Reuters) – Venezuela’s economy expanded around 15% last year, President Nicolas Maduro said on Thursday during his annual state of the nation address, crediting the expansion to diversification of the largely oil-focused economy. The South American country’s economy grew 17.73% year-over-year in the first three quarters of 2022, its central bank …

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