• Airlines Cancel Over 700 US Flights
  
  Airlines canceled over 700 flights in the United States on Monday, as adverse weather and a shortage of staff hurt their ability to keep up with a surge in summer travel demand.
• US Pending Home Sales Unexpectedly Rebound in May
  
  Contracts to buy U.S. previously owned homes unexpectedly increased in May after declining for six straight months, but higher mortgage rates are cooling demand for housing.
• Airlines Aim to Shift Blame for Flight Problems to FAA
  
  Airlines under scrutiny for widespread flight disruptions are renewing their criticism of the government agency that manages the nation's airspace, saying that understaffing at the Federal Aviation Administration is "crippling" traffic along the East Coast.
• Northrop, Raytheon Win Key US Hypersonic Defense Contracts
  
  Raytheon Technologies Co. and Northrop Grumman Corp. have won U.S. contracts to continue developing missiles to intercept hypersonic weapons, four people briefed on the decision said on Friday.
• US Crypto Firm Harmony Hit by $100 Million Heist
  
  U.S. crypto firm Harmony said on Friday that thieves stole around $100 million worth of digital coins from one of its key products, the latest in a string of cyber heists on a sector long targeted by hackers.
• Hackers Steal $100 Million in Cryptocurrency from Harmony Blockchain Bridge
  
  Hackers this week stole roughly $100 million in cryptocurrency from the startup Harmony, which has since contacted the FBI, CBS News reports.In a blog post, the company wrote: "On Thursday, June 23, 2022, the Harmony Protocol team was notified of a malicious attack on our...
• Congress Calls for 'Meme Stock' Crackdown
  
  Wall Street regulators must do more to address market risks highlighted by the "meme-stock" trading frenzy of January 2021 that pitted individual GameStop Corp investors against powerful hedge funds, a congressional report said Friday.
• Juul Seeks to Block FDA Ban on Its E-cigarettes in US
  
  Juul on Friday asked a federal court to block a government order to stop selling its electronic cigarettes.The e-cigarette maker asked the court to pause what it calls an "extraordinary and unlawful action" by the Food and Drug Administration.
• Pilots in Line for Big Raises Amid Global Travel Disruptions
  
  The largest pilots union has approved a contract that would boost the pay of pilots at United Airlines by more than 14% over the next 18 months, potentially clearing the way for similar large wage throughout the industry.
• Juul Ban Could Allow Altria to Explore E-cigarette Options
  
  Juul's U.S. e-cigarette ban could pave the way for Altria, one of its largest investors, to pursue other vaping product makers or go it alone, Wall Street analysts said on Friday.
• Next COVID Booster Shots Will Likely Be Updated for Omicron
  
  COVID-19 vaccines this fall are likely to be based on the Omicron variant of the coronavirus rather than the original strain, although some experts suggest they may only offer significant benefits for older and immunocompromised people. Moderna, Pfizer and Novavax have been...
• Amazon Unveils 1st Fully Autonomous Warehouse Robot
  
  The rise of the robots is no longer sci-fi. It's happening now, as Amazon has just rolled out its "first fully autonomous mobile robot" for its warehouses this week.
• Instagram Tests AI, Other Tools to Verify Age
  
  Instagram is testing new ways to verify the age of people using its service, including a face-scanning artificial intelligence tool, having mutual friends verify their age or uploading an ID.
• US Business Activity Slows Considerably in June
  
  U.S. business activity slowed considerably in June as high inflation and declining consumer confidence dampened demand across the board, resulting in a gauge of new orders contracting for the first time in nearly two years.
• US Oil Refiners to Meet Biden Officials in High-Stakes Price Talks
  
  Major U.S. oil refiners will meet with U.S. Energy Secretary Jennifer Granholm and other Biden officials on Thursday in an emergency meeting about how to lower record-high fuel prices that are squeezing American consumers.
• Air France-KLM Boss Warns Travelers: Go to the Airport Early
  
  The chief of airline alliance Air France-KLM said Thursday that it will take weeks or months to get new security staff in place to lighten pressure on the Amsterdam airport, which has seen flight cancellations, damaging delays and big travel headaches as global air travel...
• Airport Chaos: European Travel Runs into Pandemic Cutbacks
  
  Got European travel plans this summer? Don't forget to pack your passport, sunscreen and plenty of patience. Liz Morgan arrived at Amsterdam's Schiphol Airport 4 1/2 hours before her flight to Athens, finding the line for security snaking out of the terminal and into a big...
• US Refiners to Urge White House Not to Ban Fuel Exports
  
  U.S. refiners will try to convince the Biden administration not to ban fuel exports to combat sky-high gasoline prices, according to sources familiar with plans for a meeting set for Thursday.
• PIMCO: Inflation May Lead to Recession, Financial Risks
  
  Central banks' focus on fighting persistently high inflation could lead to a recession over the next two years and raise the risk of "financial accidents." U.S. investment firm PIMCO said Wednesday.
• JPMorgan Lays off Hundreds in Mortgage Business
  
  JPMorgan Chase & Co. is laying off hundreds of employees in its home-lending business and reassigning hundreds more this week, Bloomberg News reported on Wednesday, citing people familiar with the matter.
• Schlumberger Sees Global Oil Exploration, Production Accelerating
  
  Spending in the global oil exploration and production industry is "poised to accelerate broadly" and drive an increase in production, Olivier Le Peuch, chief executive of top oilfield firm Schlumberger, said at a conference on Wednesday.
• Breakeven Point for Maersk's Ocean Shipping up 25% - Executive
  
  The breakeven point for logistics giant Maersk to ship goods and cargo has risen by more than 25% due to an array of inflationary pressures that will abate but not return to pre-COVID-19 levels, a senior executive said on Wednesday.
• US Home Sales Slide as Prices Top $400k for 1st Time
  
  U.S. existing home sales tumbled to a two-year low in May as prices jumped to a record high -- topping the $400,000 mark for the first time -- and mortgage rates increased further, pushing out entry-level buyers from the market.
• Return of the Superjumbo: A380 Makes Comeback Despite High Oil Prices
  
  Two years ago, dozens of Airbus A380s set course for storage sites in rural France from the Gulf as the outbreak of COVID-19 accelerated the demise of the world's largest jets.
• Global Luxury Sales Seen Growing at Least 5% This Year
  
  Sales of luxury goods are set to rise at least 5% this year, as shoppers in the United States and Europe continue to snap up high-end watches, jewelry and shoes despite political uncertainty linked to conflict in Ukraine and soaring inflation, consultancy Bain said.

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