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☆ Megabus, Coach USA Bankruptcy: Wall Street Wrecked Discount Bus Option
▼ + stars: | 2024-09-11 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

Stagecoach Group, a UK-based travel company, first launched Megabus in the UK in 2003 and then brought it to the US in 2006. Along with Greyhound, Megabus became one of the two mega-carriers in the United States. The intercity bus industry is not in complete disarray, but things are not going great there. Bus industry insiders also note that they're often treated as an afterthought by policymakers even though they carry tens of millions of people each year. He emphasized that bus travel can be environmentally sustainable, too, compared to everyone driving their own cars or flying.

Persons: Megabus, Andrew Savikas, Peter Pan, John Stepovy, FlixBus, Joseph Schwieterman, Schwieterman, hadn't, Scott Michael, it's, Michael, Kai Boysan, BoltBus, Fred Ferguson, who's, Ferguson, It's, They've, They're, I'd, Wanderu, Stepovy, Emily Stewart Organizations: Coach USA, Equity, USA, Stagecoach Group, Greyhound, North America, DePaul University, Stagecoach, Fullington Trailways, US, United Motorcoach Association, FlixMobility, Flix, American Bus Association, Lake Holdings, Alden Global Capital, Atlantic City, Day, Labor, Business Locations: Los Angeles, Chinatown, Busbud, United States, Asia, Flix North America, Wanderu, Philadelphia, Dallas, Chicago, Cleveland, Boston, New York, FlixBus

☆ Treasury launches ‘Project Fortress,’ an alliance with banks against hackers
▼ + stars: | 2024-05-09 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

The new public-private partnership, dubbed Project Fortress, underscores the real danger US officials and bank executives believe cyberattacks pose to the economy. But Project Fortress is not just about playing defense. Project Fortress has been in the works for several months, with Treasury rolling out various parts of the alliance in pieces, the source said. One of the key elements of Project Fortress is the cyber hygiene tool run by the Cybersecurity and Infrastructure Security Agency (CISA). The federal government has recently flexed its offensive capabilities, including ones that are part of Project Fortress.

Persons: Wally Adeyemo, Janet Yellen, Adeyemo, Jamie Dimon, Brian Moynihan, Jane Fraser, Robin Vince, ” Vince, Vince, Jerome Powell, ” Adeyemo, Sean Lyngaas Organizations: New, New York CNN, Treasury, CNN, Bank Policy, JPMorgan Chase, Bank of America, Citigroup, BNY, Washington, Industrial, Commercial Bank of China, Infrastructure Security Agency, JPMorgan Locations: New York, Washington

☆ Interest rates staying where they are is a forgone conclusion, but the Fed's decision day still matters
▼ + stars: | 2024-05-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, what another delay to interest rate cuts means for a market banking on them. The big storyThe waiting game continuesChip Somodevilla/Getty Images; BISpoiler alert: The Federal Reserve won't be lowering interest rates today. The official announcement won't come until this afternoon, but interest rates staying where they are is a forgone conclusion. The CME FedWatch Tool, which calculates the probability of the Fed's decision based on interest rate traders, has the odds of rates staying untouched at 97.5%.) Talk of cutting interest rates has been going on for the better part of a year.

Persons: —, it's, doesn't, We'll, Chip Somodevilla, Jerome Powell, Matt Rourke, Sarah Silbiger, Alyssa Powell, CME's, aren't, Powell, Erin Schaff, Paul Krugman, Donald Trump's, Krugman, Trump, Marko Kolanovic, Rebecca Zisser, Instagram, Changpeng Zhao, Binance, Amazon, Emma Tucker's, Steve Bannon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Stagecoach, Trump, Tech, Investors, Bloomberg, Getty, The New York Times, Hunterbrook, JPMorgan, Adobe, Wall Street Journal, Staff, eBay, Pfizer, Google Locations: stagflation, New York, London

☆ Move over Coachella, there's a new festival wooing influencers in town
▼ + stars: | 2024-04-30 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +4 min

Lifestyle influencer Jacqlyn Burnett was more excited this year to attend the country music festival Stagecoach for the first time than to go to Coachella. Stagecoach, the annual country music festival held this past weekend in Southern California, is rivaling the Coachella Valley Music and Arts Festival as the new favorite among brands and social-media influencers. From the growing interest in country music to fashion, influencers and brands flocked to Stagecoach this year. Some influencers, including Paige Lorenze, Maggie and Emma Macdonald, Estelle Lebourgeois, Chloe Trujillo, and Alyssa Lynch, even skipped Coachella for Stagecoach. Béis, the luggage brand, invited influencers to Stagecoach instead of Coachella, offering themed activities and special access to the festival.

Persons: Jacqlyn Burnett, Beauty, Béis, influencers, Dominick Paielli, he's, Paielli, Paige Lorenze, Maggie, Emma Macdonald, Estelle Lebourgeois, Chloe Trujillo, Alyssa Lynch, Lynch, Liz Flora, Alix Earle, I've, Ali Grant, Stagecoach Mackenzie Gaston, Brynn Wade, Luke Scornavacco, Liz Money Organizations: Stagecoach, Valley Music, Arts Festival, Business, Clementine, Coachella, Tarte, Béis Brands, Stagecoach Mackenzie, 1AM Management Locations: Southern California, Coachella

☆ Beyoncé bounce: Western boot sales jump more than 20% week over week since 'Cowboy Carter' launch
▼ + stars: | 2024-04-12 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Beyonce leaves the Luar fashion show at 154 Scott in Brooklyn during New York Fashion Week on February 13, 2024 in New York City. The country fashion staple's sales surged more than 20% in the week after the music superstar released her "Cowboy Carter" album, according to consumer behavior firm Circana. "Cowboy Carter," which came out late last month, marked the "Halo" singer's foray into the country genre. Louis Vuitton unveiled an American Western line during Paris Fashion Week earlier this year, featuring models in everything from cowboy hats to bolo ties. Beyoncé's chart-topping album can provide a same-store sales boost and help lasso in women shoppers at Boot Barn , said Williams analyst Sam Poser.

Persons: Beyonce, Carter, Cowboy Carter, Circana, Louis Vuitton, Taylor Swift's, Williams, Sam Poser Organizations: Scott, New York, Paris Locations: Brooklyn, New, New York City, Beyoncé, American, California

☆ Brittney Spencer is telling her own story and collecting cosigns from her heroes — including Beyoncé
▼ + stars: | 2024-04-09 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +5 min

Read previewWhen Brittney Spencer woke up on Monday morning, she had no idea she would hit a major career milestone. This story is available exclusively to Business Insider subscribers. "That wasn't even on my radar," she told Business Insider of her top-40 debut, adding with a laugh, "My life has been very random." AdvertisementAlthough "My Stupid Life" contains the most explicitly personal lyricism of her career, Spencer has a knack for speaking her own dreams into existence — if not always intentionally. (Morris sang backup on Spencer's album highlight "Night In," while McEntire took Spencer on tour in 2022.)

Persons: —, Brittney Spencer, Parker McCollum, Spencer's, Beyoncé, Spencer, Carter, Tiera Kennedy, Reyna Roberts, Tanner Adell, they've, I'm, Queen Bey, Maren, Whitney, Maren Morris, Reba McEntire, Morris, McEntire, Queen Latifah, John Shearer, I've, She's, she'll, Bob Dylan, Willie Nelson, Cowboy Carter Organizations: Service, CMT, Business, Twitter, Stagecoach, Outlaw Locations: Nashville, Instagram

The weeklong Koyukon Athabascan burial ceremony in September was traditional in all ways but one: McCormick died in 1931. The 2,500-mile (4,000 km) journey ended at Morningside Hospital. For more than 15 years, volunteers in Fairbanks and in Portland have been working to identify the people who were committed to the hospital. Most records at the private hospital were lost in a 1968 fire, and territorial officials didn’t document those who were committed. McCormick died within weeks from a post-surgery infection.

Persons: — Lucy Pitka, McCormick, “, ”, Lucy, Wally Carlo, Karen Perdue, Niesje Steinkruger, Meg Green, Ellen Ganley, Robin Renfroe, Eric Cordingley, Ganley, Perdue, Gilford Kriska, Kriska, Henry Waldo Coe, Steinkruger, Cordingley, “ I’m, Baby Louise Haven, Lucy McCormick’s, —, Fairbanks, Helen Callahan, Carlo, Grandma Lucy, they’re Organizations: Morningside Hospital, Interior, National Archives, Alaska Natives, Morningside Locations: ANCHORAGE, Alaska, Fairbanks, Portland , Oregon, Valdez, Portland, Morningside, Oregon, College Park , Maryland, Nulato, Juneau, www.findagrave.com, Rampart

When two Native American boys from Nebraska died after being taken to a notorious boarding school hundreds of miles away in Pennsylvania, they were buried there without notice. After it opened in 1879 in an old Army barracks, thousands of Native American children were sent by train and stagecoach to Carlisle. In 1990, Congress passed the Native American Graves Protection and Repatriation Act, or NAGPRA. Interior Secretary Deb Haaland, the first Native American Cabinet secretary, has pushed the government to reckon with its role in Native American boarding schools. At least 500 children died at some of the schools, including Carlisle.

Persons: Samuel Gilbert, Edward Hensley, Samuel, Edward, weren't, Jan, ”, Greg Werkheiser, Richard Henry Pratt, Jim Thorpe, —, Deb Haaland, “, Beth Wright Organizations: Nebraska, Army, Carlisle Indian Industrial School, “, Cultural Heritage Partners, Department of Interior, War Department, Medical Field Service School, American, Protection, United States Congress, Interior, Native American, Native American Rights Fund Locations: Pennsylvania, Winnebago, Carlisle, Nebraska, Servicemembers, Lake, Washoe, Umpqua, Ute, Rosebud Sioux, Northern Arapaho, Blackfeet, Oglala Sioux, Oneida, Omaha, Modoc , Iowa

☆ Bud Light tries for a comeback with a focus on sports and concerts
▼ + stars: | 2023-10-31 | by ( Stefan Sykes | ) www.cnbc.com time to read: +3 min

The company's revenue fell nearly 14% from July to September in the U.S., its largest market, as Bud Light sales sank. Bud Light sales started falling in April after a conservative boycott of the brewer's partnership with transgender influencer Dylan Mulvaney. Anheuser-Busch is now trying to turn around the brand's fortunes by marketing Bud Light through platforms it considers uncontroversial. Moving forward, the company plans to promote Bud Light at events like football games and concerts, he said. "This was the result of one campaign," he said of the Mulvaney partnership, which featured her face on a Bud Light can.

Persons: Light, Bud, influencer Dylan Mulvaney, Bud Light, Bump, Michel Doukeris, Folds, Doukeris, Wall Organizations: Anheuser, Busch InBev, U.S, Bud Light, Modelo Especial, U.S . Bud, Nielsen, Bump Williams Consulting, CNBC, Busch, NFL, Stagecoach, Revenue Locations: U.S, Mulvaney

☆ UK transport group Mobico's shares hit record low on profit warning
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

SummaryCompanies Cuts annual profit forecastSuspends dividendsShares fall to record lowOct 12 (Reuters) - Mobico's (MCG.L) shares fell by a third to a record low on Thursday after the British transport company cut its annual profit forecast and suspended dividends, as high costs hit the group's efforts to improve profitability. The company, which changed its name from National Express to Mobico earlier this year, said it was planning to sell its North America school bus business in early 2024 to cut debt. The company was hit hard during the pandemic as lockdowns restricted travel and governments had to support transport operators. Mobico's school bus business in North America has faced high costs and labour shortages. "The profit warning just goes to show it takes more than a name change to prompt a recovery in a company's fortunes," Mould added.

Persons: Russ Mould, AJ Bell, Mobico, Mould, Radhika Anilkumar, Nivedita Bhattacharjee, Miral Fahmy, Sharon Singleton, Jane Merriman Organizations: National Express, North America, U.S, Stagecoach, Thomson Locations: British, North America, Britain, Europe, North Africa, Bengaluru

☆ AI-Driven Cataclysm Could Rock the Job Market: Top Economist
▼ + stars: | 2023-09-18 | by ( Aki Ito | ) www.businessinsider.com time to read: +33 min

Over the course of three conversations this summer, Acemoglu told me he's worried we're currently hurtling down a road that will end in catastrophe. "There's a fair likelihood that if we don't do a course correction, we're going to have a truly two-tier system," Acemoglu told me. "I was following the canon of economic models, and in all of these models, technological change is the main mover of GDP per capita and wages," Acemoglu told me. In later empirical work, Acemoglu and Restrepo showed that that was exactly what had happened. "I realize this is a very, very tall order," Acemoglu told me.

Persons: who's, Katya Klinova, Daron Acemoglu, Simon Johnson, Acemoglu, Johnson, we've, he's, we're, Power, James Robinson, —, Robinson, David Autor, Pascual Restrepo, Restrepo, John Maynard Keynes, Simon Simard, Lord Byron, Eric Van Den Brulle, hasn't, it's, Gita Gopinath, Paul Romer, Romer, What's, Daron, GPT, Asu Ozdaglar, It's, Mark Madeo, Tattong, Erik Brynjolfsson, Brynjolfsson, There's, Yoshua Bengio, Yuval Noah Harari, Andrew Yang, Elon Musk, I've, That's, Aki Ito Organizations: Getty, MIT, of Technology, Hulton, London School of Economics, Stagecoach, Technology, —, International Monetary Fund, Microsoft, Asu, Companies, Computer, Greenpeace, Communications, Big Tech, Workers Locations: Silicon Valley, America, Boston, Istanbul, Turkey, Acemoglu, England, United States, Britain, Australia

☆ Savoring Summer’s End at 5 Country Getaways
▼ + stars: | 2023-08-25 | by ( Stephanie Rosenbloom | ) www.nytimes.com time to read: +1 min

Shuttered in 2018, it reopened this year after a renovation that included new buildings and a new name. You can choose from 67 rooms, four of which are restored cottages dating to the early 1900s. There are new guest rooms, each with a patio, terrace or sun porch, situated in structures called Guest Houses. Also new is the two-bedroom Courtyard cottage with a living room and private outdoor space where you can end the day beside an outdoor fireplace or in a hot tub. The Homestead cottage has two bedrooms and private outdoor space as well.

Persons: Felix Locations: Olivos, Calif, Santa Ynez

The UK government said last August it would advance a bill in the current parliamentary session, which is expected to end this autumn, providing detailed regulations by 2025. That has not yet happened, with political turmoil forcing the government to water down ambitions for this session. Transport Minister Mark Harper in December said there would no longer be a Transport Bill this session, and did not mention a separate AV bill in an outline of the ministry's legislative agenda. Last month Junior Minister Jesse Norman said he shared AV startups' concerns. They fear a self-driving bill will be crowded out by other vote-winning priorities in the run-up to the election.

Persons: Toby Melville LONDON, Claudio Gienal, Mark Harper, Iain Stewart, Jesse Norman, We've, Kaity Fischer, Wayve, Ashley Feldman, Alexander Dennis, Jim Hutchinson, Oxbotica, Paul Newman, Nick Carey, Ben Klayman, Sharon Singleton Organizations: REUTERS, Ireland, AXA, Transport, United Arab Emirates, Microsoft, Autonomous Vehicles, Stagecoach, BP, Thomson Locations: Oxford, Britain, British, France, Germany, California, London, Bristol, Edinburgh, Fife

☆ UK launches first full-sized autonomous bus service with top speed of 50 miles per hour
▼ + stars: | 2023-05-15 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +1 min

The AB1 autonomous bus service will travel on a route in Scotland, with vehicles able to hit a top speed of 50 miles per hour. The U.K.'s first full-sized autonomous bus service opened to the general public on Monday, with those involved in the project describing it as a milestone for the sector. In an announcement toward the end of last week, Stagecoach described the launch as an "important milestone for autonomous technology." The company added that AB1 was "believed to be the first registered bus service in the world to use full sized autonomous buses." A fleet of five buses will be involved, traveling in mixed traffic at speeds of up to 50 miles per hour.

☆ Inside Wells Fargo's 'chaotic' journey to transform its services for the ultrarich
▼ + stars: | 2023-05-04 | by ( Hayley Cuccinello | Reed Alexander | ) www.businessinsider.com time to read: +23 min

In late 2020, some 300 Wells Fargo employees were summoned to a conference call. "I actually welcomed that, although I did like Abbot Downing," he said of folding Abbot Downing into the private bank. One team of legacy Abbot Downing employees with $3.5 billion in assets left for Hirtle Callaghan in June 2021. Today, Ginter runs a registered investment advisor called Callan Family Office, which some former Abbot Downing employees refer to as "the new Abbot Downing." Are you a current or former client of Wells Fargo Private Bank or Abbot Downing?

☆ Anheuser-Busch Changes Beer Marketing Focus After Transgender Promotion
▼ + stars: | 2023-05-04 | by ( Julie Creswell | ) www.nytimes.com time to read: +1 min

The beer giant Anheuser-Busch InBev on Thursday said that it would focus its marketing campaigns around sports and music and assign senior executives to oversee them, in the wake of controversy over a Bud Light promotion featuring a transgender influencer. In a call with analysts to discuss the financial results, Anheuser-Busch executives were peppered with questions about the backlash. They repeatedly noted that the promotion was limited to one influencer, Dylan Mulvaney, and one social media post, and that beer cans displaying her image had not been produced for mass distribution. The company said that senior executives would oversee all marketing campaigns before they are rolled out, and that it would largely focus its advertising and marketing around sports and music. The company noted it was a sponsor of the recent NFL draft and the Stagecoach music festival in California last week.

☆ Richard Rosenberg, former Bank of America chief who doubled its assets, dies
▼ + stars: | 2023-03-06 | by ( Lananh Nguyen | ) www.reuters.com time to read: +1 min

NEW YORK, March 5 (Reuters) - Richard Rosenberg, the former Bank of America Corp (BAC.N) chief executive who presided over a spree of acquisitions that doubled the bank's assets, has died. Rosenberg, a former Navy commander, served as the bank's chairman and CEO from 1990 to 1996. He took the helm as the industry was deregulating and orchestrated several major deals including a $4 billion merger with Security Pacific National Bank, one the largest banking deals of its time. They have since swelled to more $3 trillion after more deals, including the purchase of Merrill Lynch during the 2008 financial crisis. He joined Bank of America in 1987 to run its California operations, helping the company to swing to a profit from losses.

☆ 5 people including the patient died when a private air ambulance crashed in Nevada on Friday night
▼ + stars: | 2023-02-25 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

All five people on an air ambulance died when it crashed in Nevada on Friday night. The PC-12 aircraft had a pilot, nurse, paramedic, patient and a family member on board. Five people, including a nurse, paramedic and patient, were killed when the air ambulance crashed. Care Flight, the air ambulance operator, said in a statement that there were no survivors. The Nevada-headquartered air ambulance service also said it was in a "passive stand down" as a safety measure, meaning that it was not transporting any patients at this time.

☆ Factbox: Pay increases reached by UK workers following strike action
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +3 min

Below is a summary of some of the deals reached following strike action:AIRPORTSIn July, British Airways (ICAG.L) staff at London's Heathrow Airport represented by two unions called off strike action after accepting a new pay offer. Earlier that month the airline's check-in staff at Heathrow airport also suspended a strike after an improved pay deal was agreed. Wage rises were also agreed at bus operators Arriva and Go-Ahead, with Arriva's drivers in Kent securing a 13.92% pay rise in October and Go-Ahead's London workers getting a 10.5% increase. WASTE COLLECTIONWaste collection workers in various areas around the country have agreed pay rises after undertaking strike action which disrupted waste collections. Among agreements reached by the GMB were a 17% rise for some workers in Windsor and Maidenhead, just outside London, and increases of between 8% and 22% for refuse workers in Manchester.

☆ ‘The English’ Review: Destinies Manifest and Murderous
▼ + stars: | 2022-11-10 | by ( John Anderson | ) www.wsj.com time to read: 1 min

Revisionist westerns have been around since “Stagecoach,” but the trajectory of the genre—traveling as it does through the work of Sergio Leone , Quentin Tarantino , Jordan Peele and even John Ford himself—has arced, ever so inevitably, toward madness and horror. Which is director Hugo Blick ’s intended destination in “The English.”“It cannot be that this whole country is only full of killers and thieves,” says Lady Cornelia Locke ( Emily Blunt ), reflecting on the America of 1890, to which she has traveled from England in order to avenge the death of her son. And she’s right: There are also psychopaths, sadists, rapists, racists, idiots, imbeciles, religious fanatics and carnival freaks. They pepper a landscape whose panoramic vistas Mr. Blick emphasizes with poetic intentions, interrupted only now and then by spasms of violence and rivers of blood.

☆ Yellowstone Gets a Lifeline After Flood With Revamped Historic Road
▼ + stars: | 2022-11-01 | by ( Jim Carlton | Photographs Janie Osborne For The Wall Street Journal | ) www.wsj.com time to read: 1 min

The communities north of Yellowstone National Park that were hurt by a significant flood in June have a new lifeline to the park by way of a 1879 stagecoach line. That flood, which federal officials described as a once-in-a-1,000-years event, caused the Yellowstone River to overflow and destroy sections of the park’s main highway entrance from the north. The shut-off of visitors in communities along that route in Park County, Mont., erased most of their summer business.

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