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AIRLINES

Ryanair cut its passenger growth target for next year due to delivery delays from aircraft supplier Boeing. Ireland’s low-cost carrier now expects 210 million passengers in fiscal 2026, down from a previous target of 215 million, according to a statement on Monday. Ryanair said nine planes scheduled for delivery in the fiscal third quarter will now arrive in the next three months due to an ongoing strike at the aircraft manufacturer. – BLOOMBERG NEWS

RETAIL

Franchise Group Inc., the owner of brands including Vitamin Shoppe, Buddy’s Home Furnishings and Pet Supplies Plus, has filed for bankruptcy protection after months of losses and turmoil surrounding its lender B. Riley Financial Inc. The company, also known as FRG, filed under Chapter 11 in Delaware, listing nearly $2 billion in debt, according to court documents. Bloomberg News reported late Saturday that FRG was preparing to hand control to lenders, including HPS Investment Partners, after months of negotiations with the group over a restructuring. The company has been at the center of the turmoil surrounding Los Angeles-based B. Riley, the investment and brokerage firm that helped arrange a $2.8 billion takeover of the company last year. – BLOOMBERG NEWS

PHARMACEUTICAL PRODUCTS

BioNTech reported better-than-expected quarterly results, helped by solid sales of its variant-adapted COVID-19 vaccines. Revenue was nearly three times higher than expected at $1.3 billion, although the company still expects to exceed the lower end of annual revenue of between $2.72 billion and $3.37 billion. The sales decline was largely due to BioNTech receiving early regulatory approval in Europe and Britain for its variant-adapted COVID-19 shots, which it makes with Pfizer. – BLOOMBERG NEWS

AUTOMOTIVE

The U.S. government’s auto safety regulator has ended a two-and-a-half-year investigation into engine failures at Ford after the company replaced engines or extended warranties on some vehicles. The National Highway Traffic Safety Administration said in documents posted on its website Monday that its analysis traced the problem to intake valves that can break in some 2.7-liter and 3-liter turbo engines. Documents say the investigation opened in May 2022 ultimately included more than 411,000 vehicles from the 2021 and 2022 model years, including the Ford F-150 Bronco, Edge and Explorer, as well as the Lincoln Aviator and Nautilus. – ASSOCIATED PRESS

INTERNATIONAL

The tax rises for British companies in Chancellor Rachel Reeves’ first budget will lead to the “death of entrepreneurship” and could “kill growth”, according to James Dyson, the billionaire founder of vacuum cleaner manufacturer Dyson. In an op-ed for The Times newspaper, the tycoon said the new Labor government’s budget plans are “hateful” and will cause small businesses to suffer. According to the Bloomberg Billionaires Index, Dyson is Britain’s richest resident with a fortune of $21 billion. – BLOOMBERG NEWS

SOCIAL MEDIA

TikTok was sued by a group of seven French families who blame the social networking app for damaging their children’s mental health, driving two of them to suicide. The families, grouped in the Algos Victima association, filed their lawsuit in a court in Créteil, southeast of Paris, according to a statement from their lawyer Laure Boutron-Marmion. “TikTok’s responsibility must be recognized by the French judges,” Boutron-Marmion said. She pointed to the app’s “deliberately addictive design” and “a faulty algorithm” for regulating and moderating content that promotes self-harm, suicide and eating disorders, making such practices seem “trivial.” The French lawsuit adds to a series of legal actions in the United States amid growing concerns about the app’s effects on children. – BLOOMBERG NEWS

ELECTRIC VEHICLES

Tesla factory deliveries in Shanghai fell in October, the unexpected weakness coming after a record quarter for Chinese deliveries at Elon Musk’s automaker. The US electric vehicle maker shipped 68,280 Model 3 sedans and Model Y SUVs last month, down 5.3 percent year-on-year and a sharp 23 percent contraction from September, according to preliminary data released Monday by the China Passenger Car Association show. – BLOOMBERG NEWS

AVIATION

Singapore Airlines is introducing first class on its ultra-long-haul flights for the first time as part of a major $835 million upgrade to its cabin products. Singapore’s national carrier, already routinely ranked as the world’s No. 1 airline with its generous pours of champagne and the ability to book the chef and order Lobster Thermidor, unveiled its fresh and completely redesigned first and business class seats – with brand new privacy doors – on Monday. – BLOOMBERG NEWS

WORKPLACE

Grindr illegally imposed a “return to the office” policy last year, forcing half its staff out in an effort to thwart a push toward unionization, the U.S. Labor Council alleged in a new complaint. The U.S. National Labor Relations Board’s General Counsel Office accuses the LGBTQ dating company of violating federal labor law by enforcing a strict RTO mandate in retaliation against employees who tried to organize. The complaint, filed Friday, also accuses the company of illegally refusing to recognize and negotiate with the workers’ union, agency spokesperson Kayla Blado said. According to the Communications Workers of America, the company’s RTO action last year forced about 80 of Grindr’s 178 employees to resign, turning the company and its policies into a flashpoint amid a broader industry push to get employees back into the office. – BLOOMBERG NEWS

RIDE HAILING

Uber plans to propose a cut in base pay for drivers in New York City, among other recommendations, as it seeks to lower the prices of rides in one of its largest markets. The company wants the city’s Taxi and Limousine Commission, which sets the minimum wage for drivers, to reduce the per-mile rate in the driver pay formula by 6.1 percent to $1,277 from the current $1,360, according to a letter to the regulator which was seen by Bloomberg news on Monday. In the letter, the company cites falling gasoline prices as the reason for the rate reduction. – BLOOMBERG NEWS