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☆ Air travel demand is breaking records. Airline profits are not
▼ + stars: | 2024-07-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +6 min

Scott Olson | Getty ImagesRecord summer air travel demand isn't translating to record U.S. airline profits. Some airlines have forecast record demand, and in some cases, revenue. American Airlines on May 28 cut its second-quarter revenue and profit forecasts and announced its chief commercial officer was leaving after a sales strategy backfired. "The domestic supply and demand imbalance has led to a weaker domestic pricing environment than we had forecast," American Airlines CEO Robert Isom said at a Bernstein industry conference the next day. Travelers at New York's LaGuardia Airport Leslie Josephs/CNBCSouthwest Airlines cut its second-quarter forecast in late June, citing shifting demand patterns.

Persons: Scott Olson, sprees, Raymond James, Savanthi Syth, Scott Group, Hopper, Airfare, Robert Isom, Leslie Josephs, Bob Jordan, Pratt, Ted Christie Organizations: O'Hare, Getty, Airbus, Boeing, Pratt & Whitney, NYSE Arca, Paris, Investors, Delta Air Lines, Analysts, Delta, American Express, United Airlines, Alaska Airlines, Wolfe Research, Scott, theTransportation Security Administration, Airlines, Airline, Aircraft, U.S, American Airlines, CNBC Southwest Airlines, Elliott Investment Management, Politico, JetBlue Airways, Frontier Airlines, JetBlue, Spirit Airlines Locations: Chicago, Delta, Alaska, U.S, Europe, New, Dallas

☆ The church of Warren Buffett: Why thousands of investors flock to Omaha to be near the investing genius
▼ + stars: | 2024-05-16 | by ( Ryan Ermey | ) www.cnbc.com time to read: +10 min

Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024. A shopping extravaganzaFor many shareholders, the annual meeting is less about buy-and-hold investing and more about, well, buying. Judith Lieber clutches were among the items on sale at Borsheim's in Omaha, Nebraska. The CHI Health Center before the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. Warren Buffett poses with Martin, the Geico gecko, ahead of the Berkshire Hathaway Annual Shareholder's Meeting in Omaha, Nebraska on May 3rd, 2024.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Charlie Munger, I've, I'd, Borsheim's, Judith Lieber, Ryan Ermey, Diane Cunningham Redden, —, Clayton, Brooks, Sarah Min, who'd, She'd, they'd, James Eddins, Greg Abel, Carol Loomis, David A, Charlie, Guy Spier, Spier, Charlie Munger's, Doerthe Obert, Martin Organizations: Berkshire, Berkshire —, Oracle, CNBC, Nebraska Furniture Mart, IWC, CHI, Buffett, Squishmallows, Berkshire Hathaway, CHI Health, Apple, Harlem Globetrotters, Grogen, Aquamarine Fund, Grogan Locations: Omaha , Nebraska, Berkshire, England, Woodstock, Omaha, Geico, Nebraska, Borsheim's, China, Australia, Cincinnati , Ohio, Diane Cunningham Redden Cincinnati , Ohio, Columbus , Nebraska, Fairhope , Alabama, Zurich

Berkowitz, 43, is the CEO and co-founder of Insomnia Cookies, a chain of late-night bakeries he started in 2002 as a college side hustle while attending the University of Pennsylvania. "2009 and 2010 [were] some of the hardest years ever at Insomnia Cookies," says Berkowitz. His wife Rebecca — who's also responsible for the name "Insomnia Cookies," Berkowitz says — responded with some perspective and optimism. "When I talk about the brand and our journey, [I often say] that Insomnia Cookies is a perseverance story," says Berkowitz. Sign up for CNBC's new online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories.

Persons: Seth Berkowitz, Berkowitz, Krispy Kreme, DON'T, Rebecca — who's, —, You've, he'd Organizations: University of Pennsylvania, CNBC, SEC Locations: —, Syracuse , New York, Champaign , Illinois

But the de minimis rule also has powerful defenders. China's exports grew only 0.6% last year, but the bright spot was cross-border e-commerce, which includes but is not limited to the de minimis packages. In a January meeting with Mayorkas, the National Council of Textile Organizations complained about unfair trade practices, including the de minimis rule. It is unclear how much fentanyl and other illicit drugs may be slipping undetected into the country in the small packages. On a recent Friday morning at Chicago's O'Hare airport, small parcels that had arrived by mail from overseas were on conveyor belts going through X-ray machines for inspection.

Persons: Lindsey Puls, Puls, ”, Alexander Mayorkas, Earl Blumenauer of, ” Blumenauer, Sen, John Thune, LaFonda Sutton, Burke, Charles Benoit, Benoit, Mayorkas, Videojournalist Melissa Perez Winder, Haleluya Hadero Organizations: WASHINGTON, Will, Homeland, National Foreign Trade Council, FedEx, UPS, DHL, eBay, South Dakota Republican, Customs, Custom, China’s Communist Party, Coalition for, Prosperous, National Council of Textile Organizations, National Association of Police, Border Protection, Investments Locations: China, U.S, Shiocton , Wisconsin, Earl Blumenauer of Oregon, Shein, Singapore, Chicago, United States, Prosperous America, Chicago's, New York

☆ Companies are hopeful about the economy again — even if they’re nervous
▼ + stars: | 2024-02-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Earnings season is in full swing, and that means investors get a chance to hear from multinational companies about the state of the global economy. Some of the United States’ biggest companies are in the hot seat to answer questions about the economy, and where it could be headed. Like the rest of the US, companies are watching whether the economy could still tip into a recession as interest rates hover around a 23-year high. Achieving a soft landing, or a situation in which inflation comes down without an economic downturn, looks likely, some companies said. According to the UK government’s own estimates, the checks — including physical inspections from April — will cost British businesses about £330 million ($419 million) annually and increase food inflation by about 0.2 percentage points over three years.

Persons: it’s, ”, Michael Hsu, Kimberly, Clark, Blackstone, Stephen Schwarzman, Christophe Le Caillec, Jim Vondruska, We’re, Robert Isom, Lorenzo Simonelli, Baker Hughes, Alan Schnitzer, Elisabeth Buchwald, “, Christopher Waller, Waller, Hanna Ziady, Read Organizations: CNN Business, Bell, New York CNN, United States ’, American, O'Hare Airport, Travelers Companies, ”, European Union Locations: New York, Chicago , Illinois, United Kingdom, Britain

☆ A winter weather pattern change is about to bring a wild swing in temperatures to the US
▼ + stars: | 2024-01-19 | by ( Mary Gilbert | ) edition.cnn.com time to read: +9 min

Mark Zaleski/The Tennessean/USA Today Network Snow falls on parked cars in Concord, New Hampshire, on January 16. Monday's caucuses were the coldest ever , with high temperatures below zero across much of the state. Dan Powers/USA Today Network Firefighters rescue a man after his car was stuck in a flooded area in Charlotte, North Carolina, on January 9. Gregg Pachkowski/USA Today Network Snow covers the trees around the Holy Hill Basilica and National Shrine of Mary in Hubertus, Wisconsin, on January 9. Tariq Zehawi/NorthJersey.com/USA Today Network Flooding is seen at an intersection in Spartanburg, South Carolina, on January 9.

Persons: Nature, Nikki Haley, Deb Cram, Andrew Kelly, Mark Zaleski, Snow, Will Lanzoni, Rogelio V . Solis, Amanda Andrade, Rhoades, Reuters Isaac Hammond, Geoff Stellfox, Brandon Bell, Christian Monterrosa, Daniel Cole, Dan Busey, Crews, RJ Sangosti, Jeffrey T, Barnes, Chip Somodevilla, Barbara J, Al Drago, Gary Hershorn, Brendan McDermid, Joseph Prezioso, Jim Vondruska, Andrew Harnik, Eric Seals, Rebecca Zimmerman, Antonio Perez, Zuma Snow, Erin Hooley, Drake, Sam Wolfe, Bryan Woolston, Kelly, Jo St, Aubin, Dan Powers, Peter Zay, Floyd Bennett Field, Spencer Platt, Scott Olson, County Sheriff Tommy Ford, Jaide Garcia, CNN Linda Cox, Gregg Pachkowski, of Mary, Mike De Sisti, Joe Raedle, Michael Gordon, Michael Gordon Workers Brian Henderson, Phil Murphy, Tariq Zehawi, Alex Hicks Jr Organizations: CNN, Omni Mount Washington, USA, Reuters, Mississippi State Capitol, Reuters Isaac Hammond braves, Austin, Bergstrom International Airport, Iowa State Capitol, Getty, Denver International Airport, MediaNews, Denver Post, NFL, Buffalo Bills, Pittsburgh Steelers, AP, Columbus Dispatch, Bloomberg, Corbis, Reuters Storm, AP Vehicles, Chicago Tribune, TNS, Storm Bros, Network Firefighters, County Sheriff, National, of, Milwaukee Journal, People, Michael, Michael Gordon Workers, New, New Jersey Gov, Spartanburg Herald, Chicago, Minneapolis Locations: Bretton Woods , New Hampshire, New, New York, Philadelphia, Baltimore, Washington, Nashville , Tennessee, Concord , New Hampshire, Jackson, Wheeling , Illinois, Washington ,, Malcolm , Iowa, Austin , Texas, Des Moines, AFP, Florence , Alabama, Orchard Park , New York, Williamsburg , Iowa, Worthington , Ohio, Atlantic , Iowa, Hudson, Jersey City , New Jersey, Winthrop , Massachusetts, Ankeny , Iowa, Iowa, Northwestern, Farmington Hills , Michigan, Oak Park , Illinois, Chicago, Bamberg , South Carolina, Annapolis , Maryland, Kaukauna , Wisconsin, Charlotte , North Carolina, Anadolu, Brooklyn , New York, Iowa City , Iowa, Panama City Beach , Florida, Florida's Bay County, County, Myrtle Grove , Florida, Hubertus , Wisconsin, Bay County , Florida, Florida , Alabama, Georgia, Totowa , New Jersey, New Jersey, Spartanburg , South Carolina, Canada, Midwest, Des Moines , Iowa, Minneapolis, Indianapolis, Cleveland, New York City

☆ Northwest faces freezing rain and heavy snow while Arctic blast loosens its grip on eastern US
▼ + stars: | 2024-01-17 | by ( Elizabeth Wolfe | Robert Shackelford | ) edition.cnn.com time to read: +11 min

Mark Zaleski/The Tennessean/USA Today Network Snow falls on parked cars in Concord, New Hampshire, on January 16. Gary Hershorn/Corbis News/Getty Images Snow and ice dust a worker who was removing snow from a sidewalk in Des Moines on January 13. Dan Powers/USA Today Network Firefighters rescue a man after his car was stuck in a flooded area in Charlotte, North Carolina, on January 9. Gregg Pachkowski/USA Today Network Snow covers the trees around the Holy Hill Basilica and National Shrine of Mary in Hubertus, Wisconsin, on January 9. Tariq Zehawi/NorthJersey.com/USA Today Network Flooding is seen at an intersection in Spartanburg, South Carolina, on January 9.

Persons: Nikki Haley, Deb Cram, Andrew Kelly, Mark Zaleski, Snow, Will Lanzoni, Rogelio V . Solis, Amanda Andrade, Rhoades, Reuters Isaac Hammond, Geoff Stellfox, Brandon Bell, Christian Monterrosa, Daniel Cole, Dan Busey, Crews, RJ Sangosti, Jeffrey T, Barnes, Chip Somodevilla, Barbara J, Al Drago, Gary Hershorn, Brendan McDermid, Joseph Prezioso, Jim Vondruska, Andrew Harnik, Eric Seals, Rebecca Zimmerman, Antonio Perez, Zuma Snow, Erin Hooley, Drake, Sam Wolfe, Bryan Woolston, Kelly, Jo St, Aubin, Dan Powers, Peter Zay, Floyd Bennett Field, Spencer Platt, Scott Olson, County Sheriff Tommy Ford, Jaide Garcia, CNN Linda Cox, Gregg Pachkowski, of Mary, Mike De Sisti, Joe Raedle, Michael Gordon, Michael Gordon Workers Brian Henderson, Phil Murphy, Tariq Zehawi, Alex Hicks Jr, Nouran Salahieh, Joe Sutton, Sarah Dewberry, Raja Razek, Jennifer Henderson Organizations: CNN, National Weather Service, Oregon -, . Maine, Police, Rockies, South Washington Cascades, Omni Mount Washington, USA, Reuters, Mississippi State Capitol, Reuters Isaac Hammond braves, Austin, Bergstrom International Airport, Iowa State Capitol, Getty, Denver International Airport, MediaNews, Denver Post, NFL, Buffalo Bills, Pittsburgh Steelers, AP, Columbus Dispatch, Bloomberg, Corbis, Reuters Storm, AP Vehicles, Chicago Tribune, TNS, Storm Bros, Network Firefighters, County Sheriff, National, of, Milwaukee Journal, People, Michael, Michael Gordon Workers, New, New Jersey Gov, Spartanburg Herald Locations: Pacific Northwest, Pacific, Oregon, Northwest, Portland , Oregon, Columbia, Oregon - Washington, Maine, • Buffalo , New York, Buffalo, Tennessee , Mississippi , Arkansas , Kansas, In Tennessee, Knoxville, Washington, Washington , Idaho, Montana, Portland, South, Bretton Woods , New Hampshire, New, New York, Philadelphia, Baltimore, Nashville , Tennessee, Concord , New Hampshire, Jackson, Wheeling , Illinois, Washington ,, Malcolm , Iowa, Austin , Texas, Des Moines, AFP, Florence , Alabama, Orchard Park , New York, Williamsburg , Iowa, Worthington , Ohio, Atlantic , Iowa, Hudson, Jersey City , New Jersey, Winthrop , Massachusetts, Ankeny , Iowa, Iowa, Northwestern, Farmington Hills , Michigan, Oak Park , Illinois, Chicago, Bamberg , South Carolina, Annapolis , Maryland, Kaukauna , Wisconsin, Charlotte , North Carolina, Anadolu, Brooklyn , New York, Iowa City , Iowa, Panama City Beach , Florida, Florida's Bay County, County, Myrtle Grove , Florida, Hubertus , Wisconsin, Bay County , Florida, Florida , Alabama, Georgia, Totowa , New Jersey, New Jersey, Spartanburg , South Carolina, Cincinnati, Detroit, Texas, Gulf, Buffalo , New York, Watertown , Massachusetts, Midwest

☆ A United Airlines plane reportedly made an emergency landing just days after an emergency slide opened midair on the same jet
▼ + stars: | 2023-07-30 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

A United flight made an emergency landing after smoke filled the cockpit, per Aviation Herald. It was the same jet that recently deployed an evacuation slide midair, the Aviation Herald reported. A United Airlines plane made an emergency landing after smoke reportedly filled the cockpit just days after an evacuation slide was accidentally deployed midair on the same aircraft. The Herald reported the jet had the same registration number as the United flight that accidentally deployed an emergency evacuation slide in midair on July 17. The Federal Aviation Administration said maintenance crew discovered that the slide was missing after the jet landed at Chicago O'Hare.

Persons: FlightRadar, N666UA, Patrick Devitt's, didn't Organizations: Aviation Herald, Morning, United Airlines, United Boeing, Chicago O'Hare, Wednesday, O'Hare, Herald, CNN, WLS, Federal Aviation Administration, United, FAA Locations: Chicago, Zurich, Switzerland, Alpena , Michigan

☆ A woman with a lung condition is suing Delta after she says it gave her an empty oxygen tank on a flight
▼ + stars: | 2023-06-09 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

A Delta passenger with a lung condition says the crew gave her an empty oxygen tank on a flight. A Delta passenger with a lung condition is suing the airline, accusing it of giving her insufficient oxygen on a flight and saying she had to be taken to a hospital as a result. She says Delta instead provided her with an oxygen tank that was insufficient to last the 55-minute flight. Nash-Jackson says the cabin crew then gave her a second oxygen tank that turned out to be empty. In May, a Delta passenger filed a complaint to the Department of Transportation after suffering anaphylaxis on a flight.

Persons: Mattie Nash, Jackson, Nash, she'd, Sara Metzger, Metzger Organizations: Morning, Delta, Chicago O'Hare, Nash, Department of Transportation, Twitter Locations: Minnesota, Minneapolis, St.Paul, Chicago, Delta, Atlanta, Portland , Oregon

☆ Memorial Day air travel tops 2019 levels as consumers keep shelling out for trips
▼ + stars: | 2023-05-30 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Travelers arrive for flights at O'Hare Airport on May 25, 2023 in Chicago, Illinois. Memorial Day air travel surpassed pre-Covid pandemic levels, showing how consumers continue to shell out for trips despite persistent inflation. The Transportation Security Administration screened 9.79 million people from Friday through Monday, up slightly from the holiday weekend in 2019. Relatively clear weather helped air travel over the weekend, and 16% of flights arrived late from Friday through Monday, according to FlightAware, a flight-tracking site. Delays fell from the holiday weekend last year.

☆ I was the first woman to be hired as a pilot by a major US airline in 1973. When I first started, they called me 'the little girl' and a uniform for women didn't even exist.
▼ + stars: | 2023-04-28 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +9 min

When American Airlines hired her in 1973, Bonnie Tiburzi was the only woman among 214 new hires. This as-told-to essay is based on a conversation with Bonnie Tiburzi, the first woman to fly with American Airlines as a pilot in 1973. A Boeing 727 jet in American Airlines livery similar to the one Tiburzi would have operated. Look like a female pilotWhen Tiburzi first started working for American Airlines, there was no uniform for female pilots. After 26 years with American Airlines, I retired in 1999.

☆ Crime tops Chicago voters' concerns in mayoral election
▼ + stars: | 2023-02-28 | by ( Joseph Ax | ) www.reuters.com time to read: +3 min

[1/2] Chicago Mayor Lori Lightfoot speaks to children after a press event ahead of expected Thanksgiving travel at O'Hare airport in Chicago, Illinois, U.S., November 21, 2022. The Chicago race is technically nonpartisan, but every candidate identifies as a Democrat in the heavily left-leaning city. There were more than 800 murders in Chicago in 2021, the most in a quarter-century. Garcia, considered a liberal member of Congress, has said he would increase the number of officers on patrol and fund more community-based anti-violence programs. Reporting by Joseph Ax Editing by Colleen Jenkins and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Kamil Krzaczynski/File PhotoJan 18 (Reuters) - New York excavation contractor Brian Dietz does not view higher air fares as a deal-breaker for flying and airlines are seeing more small and medium size companies like his feeding a 2023 rebound in business travel. Although business travelers often book economy seats, corporate travel is critical for airlines because it means more frequent flyers and appetite for higher-margin premium fares. SME executives were some of the first business travelers back on planes after the pandemic-induced slump. They have since emerged as the fastest-growing segment within corporate travel according to Amex GBT. Spending on business travel globally is expected to recover to 80% of 2019 levels in 2023, up from 65% in 2022, according to the Global Business Travel Association (GBTA).

☆ Infrastructure innovation derailed: How Facebook's failed plan to turn a century-old railway into a commuter bridge may serve as a warning for The Boring Company
▼ + stars: | 2023-01-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

Elon Musk's tunnel infrastructure company has completed just one known project. While reporters and consumers immediately questioned whether Musk was serious about creating The Boring Company, early progress on its development silenced critics for several years. It's unclear whether The Boring Company will submit additional bids for tunnel projects in the future or complete the scheduled additions to the Vegas Loop. Despite its failed plan to materialize the Dumbarton Rail Bridge project, Facebook has continued massive infrastructure undertakings, largely in the form of submarine cable acquisition and development. Representatives for Facebook and The Boring Company did not immediately respond to Insider's requests for comment.

☆ A Lufthansa flight from LA to Germany made an 'unscheduled landing' in Chicago after passenger's laptop caught fire
▼ + stars: | 2022-12-28 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

A Lufthansa flight to Frankfurt landed in Chicago due to a small fire onboard on Monday night. The fire was caused by an overheating laptop and was put out before the plane landed. No passengers were injured but some flight attendants were treated for smoke inhalation. The fire was caused by a passenger's overheating laptop, Lufthansa said. None of the passengers onboard were injured, but two flight attendants were "treated onsite" for smoke inhalation.

If the deal is approved by Delta pilots, it is widely expected to act as a benchmark for contract negotiations at rivals United Airlines (UAL.O) and American Airlines (AAL.O). The Atlanta-based carrier's pilots have been working without a new contract for nearly three years after their old contract became amendable in December 2019, fueling frustration. In the draft agreement, Delta promises that pay rates of its pilots will exceed those at United and American by at least 1%. In a year of protests for the industry, pilots at all major U.S. carriers have been demanding higher wages and a better work-life balance. In its memo, Delta's pilot union said more than 25% of the value of the contract agreement is dedicated to quality-of-life related items.

Airlines are operating 13% fewer domestic flights during the eight-day Thanksgiving travel period compared with 2019, according to data by Cirium. While flight delays and cancellations marred U.S. summer travel, airlines say they are better prepared to handle the holiday travel rush for Thanksgiving, which occurs on the fourth Thursday in November. Federal officials say they have enough staffing to handle holiday travel as well. More than 1.4 million travelers are going out of town for Thanksgiving by bus, train or cruise ship, AAA estimates. The company this year received Thanksgiving travel bookings as early as June, three months earlier than in 2019.

☆ Video shows a woman on a red-eye flight holding a baby while threatening to kill a United Airlines flight attendant
▼ + stars: | 2022-11-14 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +2 min

A video posted to TikTok showed a woman with a baby telling a flight attendant: "I will kill you." The video, which has gone viral on TikTok, shows the woman in a physical confrontation with a flight attendant while holding a child on her hip. It's unclear what preceded the video, but the woman can be heard saying: "I will kill you. The flight attendant keeps saying "ma'am" and another one tells the woman she needs to take her seat, but the woman continues to push herself down the aisle. The person who posted the video, another passenger on United Airlines flight 476, gave more details in a follow-up video.

☆ Flames shot out of the engine of a United Airlines plane after a bird strike, forcing its return to Chicago O'Hare Airport
▼ + stars: | 2022-10-15 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

A United flight made an emergency landing after it hit a bird shortly after takeoff, per abc7. A video posted on Twitter shows United flight 1930 spitting flames out of its left engine. Witnesses on the ground told the news channel they could see flames coming from United flight 1930 shortly after it took off. Chris McCullough told abc7 he heard "this tremendous rumble" that shook his home as the plane passed over him in Bensenville. A United spokesperson said in a statement to abc7: "United Flight 1930 returned to Chicago after experiencing a bird strike shortly after take-off.

☆ Amex Platinum vs Chase Sapphire Reserve and other credit cards
▼ + stars: | 2021-07-22 | by ( Jennifer Yellin | ) edition.cnn.com time to read: +11 min

Not only is this the same Priority Pass membership that comes with the Amex Platinum, but it’s actually slightly better, as Amex Platinum card members don’t have access to Priority Pass restaurants, while Sapphire Reserve card holders do. Although the card comes with a $525 annual fee, that’s $170 less than the cost of the Amex Platinum card. Delta SkyMiles® Reserve American Express CardNow, if you’re a Delta flyer, you might prefer the Delta SkyMiles Reserve American Express Card. Even better, with the Delta Reserve Amex, you’ll receive access to the exclusive Amex Centurion Lounges when you’re flying on Delta. You can get Marriott elite status for much less than the Amex Platinum when you have the Marriott Brilliant Amex card.

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