WSJ reports American Airlines will install seatback screens on newly delivered Airbus and Boeing narrowbodies from 2028 and retrofit the feature on more than 800 existing aircraft.

PIMCO president Strack said wealth managers are withdrawing from private-credit strategies after several large direct-lending funds imposed sudden redemption limits, accelerating searches for alternatives. Wealth-management distributors are unwilling and often unable to sell retail private-credit products tied to direct lending. PIMCO estimates most business development companies (BDCs) have about 15% of AUM in redemption queues that will take several quarters to clear, and more than $14.5bn of investor capital is trapped in over a dozen funds. Some BDCs have accumulated large pools of stressed loans, notably software loans maturing in 2027–28. The software sector faces roughly $386bn of syndicated loan maturities in 2028–29, creating refinancing pressure and a projected rise in default rates over the next few years.

Interfax reports the Russian Defence Ministry said Russian forces struck a cargo ship in the Black Sea.