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☆ FAA says future United projects ‘may be delayed’ due to increased oversight
▼ + stars: | 2024-03-23 | by ( Samantha Delouya | Nicole Goodkind | ) edition.cnn.com time to read: +2 min

“Due to recent safety events, the FAA is increasing oversight of United Airlines to ensure that it is complying with safety regulations; identifying hazards and mitigating risk; and effectively managing safety,” an FAA spokesperson said in a statement. The civil aviation authority’s stepped up oversight comes after a United Boeing 737-800 landed in Medford, Oregon, missing an external panel on March 15. In just the last month, another United Boeing plane spewed flames from an engine after taking off, one slid off the runway, one lost a wheel during takeoff and another trailed hydraulic fluid. The FAA did not specify what future projects may be delayed by its evaluation, but on Saturday, Bloomberg reported the agency is considering preventing United Airlines from adding new routes, curbing the airline’s growth. Last week, a LATAM Airlines Boeing plane flying from Sydney, Australia, to Auckland, New Zealand, suddenly plunged in midair, injuring some passengers as they were thrown to the cabin’s ceiling.

Persons: authority’s, ” United, ”, CNN’s Gregory Wallace, Chris Isidore, Pete Muntean Organizations: CNN, Federal Aviation Administration, United Airlines, FAA, United Boeing, Boeing, Bloomberg, United, ”, Alaska Airlines Boeing, Max, LATAM Airlines Boeing Locations: Medford , Oregon, United, Sydney, Australia, Auckland , New Zealand

☆ What higher-for-longer interest rates could mean for tech stocks
▼ + stars: | 2023-08-31 | by ( Krystal Hur | American Airlines Flight Attendants Vote To Authorize A Strike | ) edition.cnn.com time to read: +5 min

CNN —After roaring higher for most of this year, the rally in tech stocks sputtered in August as investors grew increasingly worried about how long the Federal Reserve will keep interest rates high. Strong economic data in recent months has investors betting that the Fed will keep interest rates higher for longer. Higher yields also mean companies will need to pay more interest on their debt in the future, eating into future cash flows. Sustained, lofty yields could particularly pose a problem for tech stocks, which often trade at a premium because of the promise of rapid growth. Any sell-off in tech could reverberate across the broader market, since those stocks are largely responsible for propelling this year’s rally.

Persons: Ivana Delevska, Spear, Bryan Mena, CNN’s Gregory Wallace, Julie Hedrick, “ We’re, Read Organizations: CNN Business, Bell, CNN, Federal Reserve, Treasury, Nvidia, Devices, Marvell Technology, Gross, Commerce, American Airlines, Association of Professional, Airline

☆ Hurricanes could drive gas prices, and inflation, higher
▼ + stars: | 2023-08-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

That’s potentially bad news for gas prices. What’s happening: Gas prices are already at $3.82 a gallon. Geopolitical tensions have been supporting high oil and gas prices for some time. In 2005, for example, gas prices surged by 46% between Memorial Day and Labor Day because of the landfall of Hurricane Katrina, according to Bespoke. “Energy prices have been a major contributor to persistently high inflation in the US, so the crude oil price will remain a watch-out factor for future inflation.”High oil and gas prices are one of the largest contributing factors to inflation.

Persons: “ Idalia, ”, Louis Navellier, Andrew Woods, OpenAI, Catherine Thorbecke, Estee Lauder, CNN’s Gregory Wallace Organizations: CNN Business, Bell, New York CNN, Labor, Nasdaq Advisory Services Energy Team, Navellier, Investment, Citigroup, Day, Federal Reserve, “, Exxon Mobil, BP, Chevron, Fortune, CNN, The New York Times, Reuters, Disney, Bloomberg, The Washington Post, ABC News, ESPN, American Airlines, Airlines, Department of Transportation, Fort Worth Locations: New York, Florida, China, Russia, Saudi Arabia, Ukraine, The, Texas, Dallas, American

☆ Deadline for airline retrofits could impact
▼ + stars: | 2023-06-29 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

Multiple US air carriers told CNN Thursday that they will be able to meet the deadline. It added that all of its widebody aircraft will have the upgraded equipment by the deadline. The Regional Airline Association, meanwhile, said that most of its members’ planes were retrofitted ahead of a deadline last fall, and that they have plans to retrofit the remaining planes. That delay followed an even earlier postponement negotiated by the wireless carriers and the aviation industry, which had raised broad concerns that 5G signals might affect air travel. The deadline comes after a week of heavy flight disruptions linked to weather that are beginning to subside, with the exception of United.

Persons: Pete Buttigieg, ” Buttigieg, Buttigieg, CNN’s Gregory Wallace Organizations: New, New York CNN, Verizon, Transportation, Airlines for America, CNN, American Airlines, Southwest Airlines, United Airlines, Delta Air Lines, Delta, Regional Airline Association Locations: New York, Delta

☆ Congestion pricing is coming to New York City, officials announce
▼ + stars: | 2023-06-26 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

CNN —New York City has been cleared to implement congestion pricing, a practice that allows the city to charge drivers entering Lower Manhattan, New York Gov. The plan would also mark the culmination of more than a half-century of efforts to implement congestion pricing in New York City. Ultimately, it was the need to improve New York City’s public transit that became the rallying cry for congestion pricing. The stakes of New York City’s program are high, and leaders in other cities are watching the results closely. “It’s good to see New York City’s program is moving forward,” said the Los Angeles Times Editorial Board last month.

Persons: Kathy Hochul, ”, Michael Bloomberg, Andrew Cuomo —, Kate Slevin, Sam Schwartz, Hochul, “, US Sen, Bob Menendez, Josh Gottheimer, Bill Pascrell, Jr, Washington, CNN’s Gregory Wallace, Rob Frehse Organizations: CNN, New, Lower Manhattan , New York Gov, Federal, Administration, Central Business District, Federal Highway Administration, New York Metropolitan Transportation Authority, ” New York Gov, United, United States Each, MTA, Regional Plan Association, “, Democratic New, US, London, Drivers, Los Angeles Times Locations: New York City, Lower Manhattan ,, Manhattan, United States, New York, Lower Manhattan, New Jersey, Democratic New Jersey, Holland, Lincoln, Jersey, That’s, Stockholm, London, Singapore, York, Los Angeles

☆ Boeing forced to halt 787 Dreamliner deliveries once again
▼ + stars: | 2023-02-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN Business —Boeing has been forced to halt deliveries of the 787 Dreamliner once again, just months after it resumed deliveries to customers following a year-long halt. “We notified the FAA and have paused 787 deliveries while we complete the required analysis and documentation.”“Deliveries will not resume until the FAA is satisfied that the issue has been addressed,” said the agency. Boeing continued to build the 787 even while it was prevented from making deliveries in late 2021 and much of 2022. It was able to deliver much of that backlog once it was given clearance to resume deliveries, as it delivered 34 Dreamliners between August of last year and January of this year. Boeing plans to maintain assembly of the planes once again during this current delivery halt.

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