Flight delays of more than two hours may occur at the largest U.S. airports after furloughs of controllers and maintenance workers begin April 21 under automatic spending cuts, Federal Aviation Administrator Michael Huerta said.
The U.S. government rested its case yesterday in a prosecution that may provide a preview of next year’s trial of Galleon Group LLC co-founder Raj Rajaratnam, accused of helping direct the largest-ever hedge fund insider trading scam, Bloomberg News’ David Glovin reports.
The House passed and sent President Barack Obama a bill barring U.S. airlines from paying penalties in a European Union plan to cut carbon emissions, a day after an EU commissioner proposed halting implementation of the program.
Federal prosecutors in New York have been examining transactions by Goldman Sachs Group Inc., accused of fraud by U.S. securities regulators, to determine whether to pursue a criminal case, according to two people familiar with the matter.
The European Union plans to freeze implementation of greenhouse gas curbs on flights into and out of the EU until September next year, while countries worldwide negotiate a global pact to cut pollution.
UAL Corp.’s United Airlines and Continental Airlines Inc. are studying a stock-for-stock merger with no premium, two people with knowledge of the talks said, in a deal that would create the world’s largest carrier.