Heard that new rule for baggage limit for International travel by air has been implemented. Now on, traveller is allowed to take only one suitcase of maximum 23 kg (50 lbs) as a checked in baggage. For second suitcase, it will cost $60/piece. The hand carry limit is 14 lbs. No more free two suitcases.....              is that correct?

Has someone heard/learned about this??

Yes, this is true but only for US based airlines like United, American, Delta, Continental, US airways and so on.  And there is some discount if you check your second bag online in most airlines.  Check the link below for more info.

http://www.utexas.edu/travel/news/checked_baggage_fees.pdf

 

My first 2 leg of the flight is on American Airlines, then from San Fransisco its Cathay Pacific. Are you saying I can only check in one suitcase when I first check in?
:'(

ya  thats true

Soon the air carriers in the US will announce something like this:

i. Travel in shorts - No extra charge
ii. Light carry-on baggage - $30 (only a toothpick, wallet and a cell phone allowed)
iii. Clothes on - $60
iv. Checked baggage - $100 ea. (20lbs. limit)