Business briefs: 767s may need more frequent inspections

Operators of about 260 Boeing Co. 767 jets may need to inspect engine pylons more frequently. Boeing could issue revised service procedures in mid-July, following the recent discovery of pylon cracks on two American Airlines 767s, the company said Wednesday. Pylons keep engines attached to aircraft wings. Boeing and the airline still are trying to determine the cause of the cracks. Boeing could recommend pylon inspections every 400 flight cycles, down from every 1,500. A takeoff and landing is one cycle. The recommendation would affect 260 767s out of a worldwide fleet of about 900. A redesign of pylon struts was incorporated beginning with the 664th Boeing 767 made.

AAA predicts less holiday spending

The roads and airports are likely to be more crowded during the July 4 weekend, but travelers say they’ll be spending less money. A survey by travel organization AAA projects that the number of Americans traveling over the holiday weekend will increase 17.1 percent from 2009, with 34.9 million travelers taking a trip at least 50 miles away from home sometime between July 1 and July 5. Despite lingering uncertainty and volatile financial markets, “the landscape of the U.S. economy is in a much different place than it was one year ago,” Glen MacDonell, director of AAA Travel Services, said in a statement. Still, the AAA survey found that median spending by travelers is estimated to be $644 this holiday weekend, nearly $50 less than last year, despite generally higher travel costs. According to AAA, average airfares over the July 4 weekend are expected to increase 13 percent from last year.

Latest iPhone in stores — if you can find it

When the latest iPhone goes on sale in retail stores today, many diehard fans won’t care: They got theirs in the mail Wednesday. Others, including those shut out last week when ordering websites were overwhelmed, are expected to stand in lines at Apple stores beginning at 7 a.m. today to snag the much-hyped iPhone 4 smart phone, priced from $199. Best Buy and Radio Shack stores also will deliver phones to customers who preordered — though they won’t have enough for walk-in customers. And some Wal-Mart stores said they received few or no phones. AT&T stores will hand out preordered iPhones today.

Fed promises to hold low interest rates

The Federal Reserve struck a more cautious tone about the strength of the U.S. economic recovery, indicating Europe’s debt crisis poses a risk to it. Wrapping up a two-day meeting Wednesday, the Fed in a 9-1 decision retained its pledge to hold rates at record-low levels for an “extended period.” Doing so is intended to energize the rebound. The Fed expressed confidence that the recovery will stay intact despite several threats from abroad and at home.

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