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☆ Ron Insana says this economy is far from typical – and finding a policy fix will be tough
▼ + stars: | 2023-02-24 | by ( Ron Insana | ) www.cnbc.com time to read: +3 min

Jim Vondruska | ReutersIn my 39 years of covering the economy, markets and business, I'm not certain that I've ever seen a "typical" business cycle as described in an economics 101 class. Finally, the Federal Reserve raises rates to bring the economy back into equilibrium, overshoots and creates yet another recession. While that sounds a lot like what's happening in the economy now, the current environment is being shaped by factors well beyond those of a "typical" business cycle. This is not a typical business cycle top, in which growth and inflation are both accelerating. That's well below the typical peak sales the industry has enjoyed at about 17 million vehicles sold.

Haley also tapped Betsy Ankney, a former political director for the National Republican Senatorial Committee, to run the PAC, according to Axios. Longtime Haley advisor Jon Lerner, will likely have leadership roles within a Haley presidential campaign, two of the people said. Haley has publicly hinted in two recent interviews with Fox News that she could be ready to run for president. Kevin Lemarque | ReutersTrump, who lost his reelection bid to Biden in 2020, is the only candidate so far to jump into the 2024 presidential race. She even said in 2021 that she wouldn't run for president in 2024 if Trump was on the ballot.

☆ Startups Want to Help Airlines Prevent Tech Meltdowns
▼ + stars: | 2023-01-14 | by ( Belle Lin | ) www.wsj.com time to read: +7 min

Airlines should take advantage of new cloud-based tools, industry consultants said, to help prevent the recent snafus brought on by the use of antiquated and siloed technology at Southwest Airlines Co. and the Federal Aviation Administration. Photo: JIM VONDRUSKA/REUTERSSanta Clara, Calif.-based Couchbase Inc., founded in 2011, said it helped United Airlines Holdings Inc. modernize its operations by providing a cloud-based database for its crew-scheduling software. United declined to comment on its operations technology. Airlines generate a massive amount of data every year from their aircraft, passengers, suppliers and internal operations. Gurobi Optimization LLC, a company that develops mathematical-optimization software for industries including aviation, said it provides optimization technology for airlines such as Air France-KLM.

☆ U.S. lawmakers call FAA outage 'unacceptable,' demand a fix
▼ + stars: | 2023-01-14 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Jim Vondruska/File PhotoWASHINGTON, Jan 13 (Reuters) - A group of more than 120 U.S. lawmakers told the Federal Aviation Administration's (FAA) its computer outage on Wednesday that disrupted 11,000 flights was "completely unacceptable" and demanded the agency explain how it will avoid future incidents. On Thursday, the FAA said its preliminary analysis showed the computer outage was caused by a procedural error related to a corrupted data file. The Senate committee email also said it appears the groundstop actually lasted from 7:21 a.m. Buttigieg tweeted at approximately 8:50am that the groundstop had been lifted, was the NOTAM system full operational at that point?" The Senate email asked "what additional resources does FAA need to expeditiously update the NOTAM system?"

☆ U.S. lawmakers call FAA outage 'unacceptable,' demand fix plan
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

[1/2] Passengers exit a bus at Terminal 2 as they wait for the resumption of flights at O'Hare International Airport after the Federal Aviation Administration (FAA) ordered airlines to suspend all domestic departures due to a disruption in the system, in Chicago, Illinois, U.S., January 11, 2023. REUTERS/Jim Vondruska/File PhotoWASHINGTON, Jan 13 (Reuters) - A group of more than 120 U.S. lawmakers told the Federal Aviation Administration's (FAA) its computer outage Wednesday that disrupted 11,000 flights is "completely unacceptable" and demanded the agency explain how it will avoid future incidents. Lawmakers want details of what went wrong with a pilot messaging database that led to the first nationwide grounding of departing flights since the Sept. 11, 2001 attacks. They want Buttigieg to provide an "estimated cost to commercial airlines and passengers due to the delays resulting from the outage." Reporting by David Shepardson; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

WASHINGTON/CHICAGO, Jan 12 (Reuters) - U.S. airline operations returned to normal on Thursday even as the Federal Aviation Administration (FAA) continues to investigate pinpoint the cause of a computer outage that grounded flights nationally and to prevent it from happening again. "FAA operations are back to normal, and we are seeing no unusual delays or cancellations this morning," the FAA said in a tweet. More than 11,300 flights were delayed or canceled on Wednesday in the first national grounding of domestic traffic in about two decades. As of noon Thursday, 1,400 U.S. flights were delayed and 117 were canceled, according to FlightAware, a typical aviation day given current weather issues. Major carriers Delta Air Lines (DAL.N), United Airlines (UAL.O), American Airlines Group Inc (AAL.O) and Southwest Airlines (LUV.N) all were reporting normal operations on Thursday.

[1/2] Passengers wait for the resumption of flights at O’Hare International Airport after the Federal Aviation Administration (FAA) had ordered airlines to pause all domestic departures due to a system outage, in Chicago, Illinois, U.S., January 11, 2023. REUTERS/Jim VondruskaWASHINGTON/CHICAGO, Jan 12 (Reuters) - U.S. airlines said they expect operations to return to normal on Thursday as the Federal Aviation Administration (FAA) scrambles to pinpoint the cause of a computer outage that grounded flights nationally and to prevent it from happening again. More than 11,300 U.S. flights were delayed or cancelled on Wednesday, according to FlightAware, in the first national grounding of domestic traffic in about two decades. Major carriers such as Delta Air Lines (DAL.N), United Airlines (UAL.O) and Southwest Airlines (LUV.N) said they expected normal operations on Thursday. "The health of that agency and its ability to deliver on its mission really is important," he said in an interview.

☆ Explainer: Why U.S. flights were grounded by a FAA system outage
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +4 min

Over 4,000 flights were delayed and more than 600 canceled because of the outage as of early Wednesday morning. The FAA system that is meant to distribute notices to pilots on hazards failed at about 2 a.m. Eastern Time, officials said. [1/3] Passengers wait for the resumption of flights at O'Hare International Airport after the Federal Aviation Administration (FAA) had ordered airlines to pause all domestic departures due to a system outage, in Chicago, Illinois, U.S., January 11, 2023. REUTERS/Jim Vondruska 1 2 3The NOTAMs sent by the U.S. Federal Aviation Administration are part of a global safety system managed through the United Nations' aviation agency. The incident, and the information overload that pilots complain the system encourages, prompted the effort to change the way the system operates.

☆ U.S. inflation has not 'turned the corner yet', IMF's Gopinath warns -FT
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

[1/2] Shoppers crowd a supermarket to buy food ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 22, 2022. Gita Gopinath, a deputy managing director of the Fund, urged the U.S. central bank to press ahead with rate rises this year. "If you see the indicators in the labour market and if you look at very sticky components of inflation like services inflation, I think it's clear that we haven't turned the corner yet on inflation," she told the newspaper. In October, the IMF cut its outlook for global economic growth in 2023, reflecting the continuing drag from the Ukraine war as well as inflation pressures and high interest rates engineered by central banks to rein in those price pressures. In the interview Gopinath added that she expected China's economy to suffer significantly in the near term.

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