CHICAGO (Reuters) – American Airlines

has delayed plans to begin scheduling Boeing Co

737 MAX training for its pilots in November, the Allied Pilots Association said on Tuesday, as the grounded jet awaits regulatory approval to return to the skies.

Boeing is seeking approval from the U.S. Federal Aviation Administration (FAA) on a series of changes to the 737 MAX following two fatal crashes in 2018 and 2019 that triggered the aircraft’s global grounding. The FAA has also yet to determine new pilot training requirements for the jet.

Last month, American said its training plans could be canceled if the 737 MAX was not recertified.

“We have not made any definitive plans regarding the 737 MAX as the return to service timeline remains fluid,” an American Airlines spokeswoman said. “That’s why we recently adjusted the pilot training scheduling process and will continue to do so depending on when the MAX is recertified.”

She said American Airlines remains in contact with the FAA and Boeing on the recertification process, and continues to work in close collaboration with the pilots union.

Attempting to start MAX training for pilots in November seemed “a bit premature,” as we said recently, said Dennis Tajer, spokesman for the Allied Pilots Association, which represents American Airlines’ pilots.

(Reporting by Tracy Rucinski; Editing by Chizu Nomiyama and Paul Simao)

Copyright 2020 Thomson Reuters.

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By Lisa Richwine

LOS ANGELES (Reuters) – California’s health secretary on Friday agreed to hear more input from theme park operators before issuing reopening guidelines, a step that further delays Walt Disney Co’s plans to welcome visitors back to Disneyland.

Disney Executive Chairman Bob Iger also resigned from a California task force on reopening businesses during the coronavirus pandemic, the Sacramento Bee newspaper reported late on Thursday. No reason was given and Disney did not respond to requests for comment.

Earlier this week, Disney said the continued closure of Disneyland had exacerbated the financial strain on its parks division from the pandemic. The company, which is in the process of laying off 28,000 employees, has urged California to let Disneyland reopen.

On Thursday, a trade group that represents Disneyland, Comcast Corp’s Universal Studios and others, said it had reviewed California’s draft guidelines and then asked the state to hear more recommendations from the industry.

On Friday, Dr. Mark Ghaly, California’s health secretary, said he would continue talks with theme park operators.

“Given the size and operational complexities of these unique sectors, we are seeking additional input from health, workforce and business stakeholders to finalize this important framework – all leading with science and safety,” Ghaly said in a statement.

Disneyland has been closed since March. The company had announced the resort would reopen on July 17 but later delayed the move indefinitely, saying it had to wait for the state’s guidance.

All other Disney theme parks, including Walt Disney World in Florida, have reopened with limited attendance, mask requirements and other safety measures.

(Reporting by Lisa Richwine, Editing by Rosalba O’Brien)

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LOS ANGELES (Reuters) – California’s health secretary on Friday agreed to hear more input from theme park operators before issuing reopening guidelines, a step that further delays Walt Disney Co’s

plans to welcome visitors back to Disneyland.

Disney Executive Chairman Bob Iger also resigned from a California task force on reopening businesses during the coronavirus pandemic, the Sacramento Bee newspaper reported late on Thursday. No reason was given and Disney did not respond to requests for comment.

Earlier this week, Disney said the continued closure of Disneyland had exacerbated the financial strain on its parks division from the pandemic. The company, which is in the process of laying off 28,000 employees, has urged California to let Disneyland reopen.

On Thursday, a trade group that represents Disneyland, Comcast Corp’s

Universal Studios and others, said it had reviewed California’s draft guidelines and then asked the state to hear more recommendations from the industry.

On Friday, Dr. Mark Ghaly, California’s health secretary, said he would continue talks with theme park operators.

“Given the size and operational complexities of these unique sectors, we are seeking additional input from health, workforce and business stakeholders to finalize this important framework – all leading with science and safety,” Ghaly said in a statement.

Disneyland has been closed since March. The company had announced the resort would reopen on July 17 but later delayed the move indefinitely, saying it had to wait for the state’s guidance.

All other Disney theme parks, including Walt Disney World in Florida, have reopened with limited attendance, mask requirements and other safety measures.

(Reporting by Lisa Richwine, Editing by Rosalba O’Brien)

Copyright 2020 Thomson Reuters.

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Insurance companies are getting even more time to implement a new rule for valuing long-term contracts following a vote by the Financial Accounting Standards Board on Wednesday.

The rule maker, which sets accounting standards for companies and nonprofits in the U.S., in June proposed a delay of another year for the new rule amid the economic harm caused by the coronavirus pandemic. The rule was first delayed by a year last November to give companies more time to modernize their processes for reporting and valuation.

Insurance firms must review assumptions used to measure the value of their long-term contractual obligations and make revisions if needed. Long-term contracts include agreements on annuities, endowments and title insurance. Short-duration contracts usually cover property and liability protection.

Publicly listed insurers, excluding small ones, may now delay implementing the new standard until after Dec. 15, 2022. All others are allowed to wait until after Dec. 15, 2024.

Insurance companies in comment letters to FASB said a delay would give them time to address coronavirus hurdles and adequately prepare for the new standard by, for example, testing internal controls and educating management and investors.

Columbus, Ga.-based insurer

Aflac Inc.

was prepared for another potential delay in the new standard, Chief Financial Officer Max Brodén said. Challenges stemming from the pandemic have forced Aflac to revise its business goals and timelines, including for issues such as implementing new accounting rules, Chief Accounting Officer June Howard wrote in an Aug. 6 letter to FASB.

Principal Financial Group Inc.,

a Des Moines, Iowa-based insurer, is currently developing new valuation models and will update its actuarial systems to comply with the new rule, finance chief Deanna Strable-Soethout said. The delay

Electric-truck startup Nikola  (NKLA) – Get Report postponed its in-person Nikola World conference due to the coronavirus outbreak and stood by its plan to start sales in late 2021.

Shares of the Phoenix company at last check were up 11% to $19.78.

“Due to covid-19 audience-size restrictions at Arizona’s major venues, we have made the decision to reschedule an in-person Nikola World until we can bring the Nikola community together safely,” Nikola said in a statement.

The company maintained in a statement that it “remains committed to achieving” a set of milestones to develop its commercial truck.

“Nikola expects the first batch of five prototypes of the Nikola Tre, a 100% battery-electric truck, will be substantially completed at our joint venture facility in Ulm, Germany, in the next few weeks,” the company said. 

“We remain confident in our ability to begin production of the Tre and make it available to customers starting in the fourth quarter of 2021.”

Nikola also said it continues to make progress developing its one-million square-foot manufacturing facility in Coolidge, Ariz., which is scheduled to be completed by mid-2023.

The company has been beset by a series of problems, including allegations by Hindenburg Research that have sparked an investigation by the Securities and Exchange Commission and the Department of Justice; a share-price drop, and the resignation of its founder and former executive chairman, Trevor Milton.

In addition, Nikola’s $2 billion deal with General Motors  (GM) – Get Report that was slated to close Wednesday stalled after allegations of fraud and sexual abuse surfaced against Milton, CNBC reported.

Two women filed sexual-assault claims with Utah authorities against Milton. Both allegations were more than 15 years old but involve a cousin and an office assistant when both were 15.

Milton’s cousin, Aubrey Ferrin Smith,