AVIATION
Cathay Pacific finds engine component problem on 15 planes
Hong Kong’s flagship airline, Cathay Pacific, said Tuesday that it found 15 of its Airbus A350 planes required repair after an engine component failed on a plane headed to Zurich. Cathay Pacific said it inspected all 48 planes in its Airbus A350 fleet, adding that three of them had been fixed by Tuesday afternoon. It said it has canceled at least 34 round-trip flights since Monday because of the engine issue. All flights were expected to return to operation by Saturday. The carrier began the inspections after one of its A350 planes took off from Hong Kong International Airport on Monday before it experienced a problem, dumped fuel over the sea for half an hour, and had to return to the airport. — NEW YORK TIMES
AUTOMOTIVE
Former Volkswagen CEO goes on trial in emissions case
Former Volkswagen Group CEO Martin Winterkorn went on trial Tuesday on charges of fraud and market manipulation in connection with the corporate scandal over Volkswagen’s use of rigged software that let millions of cars cheat on emissions tests and emit high levels of harmful pollutants. Prosecutors say Winterkorn knew about the illegal software well before the US Environmental Protection Agency announced its discovery of the violation in September 2015. He resigned days later. He has said he learned about the practice only shortly before the announcement and earlier testified during civil proceedings that the allegations against him “are not correct.” — ASSOCIATED PRESS
SHORT-TERM RENTALS
Airbnb asks NYC to revise local regulation
Airbnb is urging New York City officials to scale back a local regulation that outlawed most of its short-term rental listings when it came into effect nearly a year ago, citing impacts on travelers and hosts. In a blog post on Tuesday, Airbnb said New York City’s Local Law 18 regulation, which requires short-term rental hosts to obtain a license from the city verifying compliance with strict occupancy rules and building codes, has “failed to deliver on the promise to combat the housing crisis.” Rents in New York have continued to rise while travelers are left with fewer accommodation options and priced out by all-time high hotel prices, the company said. It called for the rules to be relaxed to make it easier for homeowners to rent out their places. — BLOOMBERG NEWS
AUCTIONS
Want a piece of ‘Game of Thrones’?
After watching eight seasons of the epic saga “Game of Thrones,” fans can now enter what may be a competition on par with the battle for the Iron Throne: an auction of prized memorabilia from the HBO series. Fans can now bid on a slew of costumes, props, set pieces, and memorabilia from the hit show that ended in 2019. More than 2,000 items — including a melted version of the coveted Iron Throne — distributed across 900 lots will be on the auction block in October through Heritage Auctions. The starting bids range from $500 to $20,000 for items as iconic as Jaime Lannister’s full suit of armor and sword to props as granular as prosthetic teeth used for the White Walkers. Other notable items include Daenerys Targaryen’s memorable cloaks, coats, and leather ensembles (some that feature dragon chokers and accents) worn by Emilia Clarke, Jon Snow’s notorious Longclaw sword wielded by Kit Harington, and the Hand of the Queen Pin donned by Peter Dinklage as Tyrion Lannister. Even items that didn’t boast much screen time, like the bell wielded during Cersei Lannister’s walk of shame or bloodstained garb from the infamous Red Wedding, are expected to draw fans’ attention during bidding. — ASSOCIATED PRESS
MANUFACTURING
Factory activity slows for fifth month in a row
US manufacturing activity shrank in August for a fifth month, reflecting faster rates of declines in orders and production. The Institute for Supply Management’s manufacturing gauge edged up 0.4 point to 47.2, data out Tuesday showed. A reading below 50 indicates contraction. The group’s measure of production slid for a fifth month — deeper into contraction territory — to the lowest level since May 2020. The gauge of new orders, which showed bookings are shrinking, dropped to a 15-month low. Export orders also shrank at the fastest rate since the start of the year. — BLOOMBERG NEWS
AUTOMOTIVE
Regulators end probe into GM seat belt failures
US auto safety regulators have closed a five-year investigation into seat belt failures in some General Motors SUVs after the company issued extended warranty coverage. The National Highway Traffic Safety Administration says in documents posted on its website Tuesday that warranty coverage issued in June of 2019 addressed the problem that caused the recall. In 2014, the company recalled more than 1.3 million midsize SUVs because a flexible steel cable that connects the seat belts to the front outside seats could fail over time and not hold people in a crash. Dealers were to replace the lap belt pretensioners. The recall covered Chevrolet Traverse, Buick Enclave, GMC Acadia, and Saturn Outlook SUVs from the 2009 through 2014 model years. On Tuesday, the agency said GM extended the warranty on the cables to 12 years or 180,000 miles from the initial sale date of the SUVs. Technicians were to inspect the driver’s seat belt cable for damage to a protective sleeve. If damage was found, the cable was to be replaced with new sleeve and a part that relocated the cable to mitigate any damage. — ASSOCIATED PRESS
AUTOMOTIVE
Hyundai unveils new electric SUVs
Despite slowing US electric vehicle sales, Hyundai on Tuesday rolled out the 2025 versions of its Ioniq 5 electric SUV with improved battery range and charging aimed at broadening the appeal of vehicles to be built at a massive new Georgia factory. The South Korean automaker unveiled a test version of its latest EV at a dealership in Savannah, Ga., a few miles from a sprawling new $7.6 billion manufacturing complex. The company says the plant will begin producing new Ioniq 5s before the end of the year, though it hasn’t said precisely when. — ASSOCIATED PRESS
ENERGY
First LNG export licenses awarded since January
The Biden administration granted the first liquefied natural gas export license since the Energy Department halted LNG export permits in January, even as the agency appeals a federal court’s ruling to overturn the temporary moratorium. The US Energy Department granted a five-year license Tuesday to Wes Edens’ company New Fortress Energy Inc., which is developing the small-scale LNG export plant known as Fast LNG offshore near Altamira, Mexico. The approval is key for US LNG export developers to sell LNG globally to countries in Europe, Japan, and China. The Energy Department, under the White House’s direction, announced in January it was halting new licenses to export LNG to key Asian nations and other countries that aren’t free-trade partners with the United States, while the agency scrutinized how the shipments affect climate change, the economy and national security. A federal judge in Louisiana lifted the temporary moratorium in July after 16 states filed a lawsuit arguing the pause violated federal law. The Energy Department is appealing the ruling. — BLOOMBERG NEWS