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U.S., Europe end Airbus-Boeing dispute, Chobani’s IPO, Southwest tech glitch

Julie Hyman breaks down Monday’s business headlines, including: The U.S. and the EU agreeing to end a 17-year trade dispute over subsidies for Boeing and Airbus, Chobani reportedly working with Goldman Sachs and Bank of America on an initial public offering for second half of 2021, Southwest resuming flights following a weather data outage, and the FAA cracking down on unruly passengers after receiving over 3,000 incident reports.

Video transcript

- The US and European Union may be close to an end of a trade dispute over government subsidies to Boeing and Airbus. The two sides have agreed to suspend World Trade Organization-authorized tariffs for five years. US Trade Representative Katherine Tai told reporters the deal allows us to start turning the page on this longstanding dispute. She also said it could provide a template for resolving further disputes.

Yogurt maker Chobani is poised for additional public offering in the second half of the year and has hired Goldman and Bank of America to work on its debut. That's according to a report by Bloomberg. The company could reportedly be worth up to $10 billion in public markets. Airline passenger traffic was sharply lower last year, but reports of unruly passengers were at a record high. 3,000 cases were recorded by the Federal Aviation Administration, 2,300 of which were for refusing to comply with mask mandates.

And the FAA further investigated 394 incidents where passengers possibly broke the law. The typical number of unruly reports, 100 to 150. Also in airline news, Southwest grounded flights yesterday after a nationwide weather data outage. The company said its third-party provider was experiencing, quote, "intermittent performance issues" that prevented necessary information from being sent to flight crews. Southwest flights reported more than 1,400 delays, according to FlightAware.