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☆ US airline pilots fight their unions to increase retirement age
▼ + stars: | 2023-08-22 | by ( Rajesh Kumar Singh | Allison Lampert | ) www.reuters.com time to read: +7 min

Increasing the age limit by two years would also align pilot retirement with the minimum federal retirement age, allowing them to receive full social security benefits. But the specific question of increasing the retirement age to 67 was never brought to the floor for a vote. “This is a coup by junior pilots against senior pilots,” said Allen Baker, who retired as a United Airlines pilot in June. Dennis Tajer, a spokesman for American Airlines pilots union, said pilots seeking higher retirement age want to keep earning longer. But United Airlines CEO Scott Kirby has said lifting the retirement age would not solve the pilot shortage.

Persons: Bo Ellis, F, Andrew Kelly ALPA, Ellis, ALPA, ”, “, ” ALPA, Rick Redfern, Savanthi Syth, Raymond James ., Dan Carr, Carr, Allen Baker, Baker, Dennis Tajer, Jason Ambrosi, Barry Biffle, Scott Kirby, Jonathan Ornstein Organizations: Reuters, Air Line Pilots Association, Kennedy International Airport, REUTERS, U.S . Congress, Regional Airline Association, Southwest Airlines, Air, Mesa, MESA, United Airlines, United, U.S . Senate, Raymond James . JUNIOR, American Airlines, Frontier Airlines, International Air Transport Association Locations: Queens , New York City, U.S, Delta, United, Redfern, Canada, Japan, Australia, Mesa

☆ Airbnb Hosts and Guests Scramble as New York Begins Crackdown
▼ + stars: | 2023-08-22 | by ( Allison Pohle | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/lifestyle/travel/airbnb-new-york-city-laws-rentals-2950904e

Persons: Dow Jones

Lawyers for the former crypto billionaire, who is vegan, said the detention center is not accommodating his diet and failing to regularly dispense his prescription Adderall. “He’s literally now subsisting on bread and water, which are the only things he’s served that he can eat, and sometimes peanut butter,” his attorney, Mark Cohen, told the court. It’s a far cry from his house arrest, which he spent in the relative luxury of his parents Palo Alto home in California. Bankman-Fried, 31, has pleaded not guilty to multiple conspiracy and fraud charges relating to the collapse of his exchange, FTX, in November. The company filed for bankruptcy and quickly became the center of the federal fraud investigation.

Persons: Sam Bankman, Fried, “ He’s, he’s, Mark Cohen, Judge Netburn, Palo, Lewis Kaplan, Caroline Ellison, Bankman, FTX, SBF Organizations: New, New York CNN, of Prisons, Metropolitan Detention, Palo Alto, Super Bowl, Alameda Research Locations: New York, Brooklyn, California

Increasing the age limit by two years would also align pilot retirement with the minimum federal retirement age, allowing them to receive full social security benefits. But the specific question of increasing the retirement age to 67 was never brought to the floor for a vote. "This is a coup by junior pilots against senior pilots," said Allen Baker, who retired as a United Airlines pilot in June. Dennis Tajer, a spokesman for American Airlines pilots union, said pilots seeking higher retirement age want to keep earning longer. But United Airlines CEO Scott Kirby has said lifting the retirement age would not solve the pilot shortage.

Persons: F, Andrew Kelly, Bo Ellis, ALPA, Ellis, Rick Redfern, Savanthi Syth, Raymond James ., Dan Carr, Carr, Allen Baker, Baker, Dennis Tajer, Jason Ambrosi, Barry Biffle, Scott Kirby, Jonathan Ornstein, Rajesh Kumar Singh, Allison Lampert, Ben Klayman, Grant McCool Organizations: Pilots, Kennedy International Airport, REUTERS, Air Line Pilots Association, U.S . Congress, Regional Airline Association, Southwest Airlines, Reuters, Mesa, MESA, United Airlines, United, U.S . Senate, Raymond James . JUNIOR, American Airlines, Frontier Airlines, International Air Transport Association, Thomson Locations: Queens , New York City, U.S, Redfern, Canada, Japan, Australia, Chicago, Montreal

☆ American Airlines pilots approve new contract that boosts compensation by more than 46%
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

The Allied Pilots Association (APA), which represents 15,000 pilots at the Texas-based carrier, said on Monday that 72.7% of the pilots voted for the deal which will result in an immediate pay raise of more than 21%. Overall, compensation for pilots at the airline will rise by more than 46% during the contract's duration. With no letup in travel demand, airlines are in a rush to staff up, bolstering the bargaining power of pilots. Rival United Airlines (UAL.O) last month announced a preliminary deal for a new four-year contract that would give its pilots a cumulative increase of 34.5%-40.2% in pay. American's contract includes about $1.1 billion in immediate, one-time payments and ratification bonuses.

Persons: Brian Snyder, Ed Sicher, Sicher, Rajesh Kumar Singh, Allison Lampert, Matthew Lewis Organizations: American Airlines, Airport, REUTERS, Rights, Allied Pilots Association, Allied Pilots, Reuters, Jefferies, U.S, Rival United Airlines, Thomson Locations: Boston , Massachusetts, U.S, Texas, Chicago, Montreal

But that can take time, analysts say, since airlines must manually override automated systems that raise fares in the case of higher demand. Here is a look at how airlines deal with a sudden surge in demand on a particular route. DISASTERS VERSUS HIGH DEMANDAirlines set a range of ticket prices based on factors like purchase timing and demand. They then allocate seats to each fare, explained Chris Amenechi, founder of startup SeatCash, which offers subscribers a product that predicts future flight prices. Travel site Expedia Group (EXPE.O) said air partners set flight prices and availability on its site.

Persons: Chris Helgren, Chris Amenechi, ”, Amenechi, Robert Mann, Mann, Allison Lampert, Doyinsola, Denny Thomas, Josie Kao Organizations: REUTERS, Air Canada, HIGH, CAP, Air, Expedia, Airlines, WestJet Airlines, U.S, Amtrak, Thomson Locations: Okanagan, West Kelowna, British Columbia, Canada, Yellowknife, Air Canada, Calgary, Maui, Honolulu, U.S, Washington, New York

☆ Artists behind Chewy's adorable pet portraits are revealing the ugly side of the program. 'The way they are treating us is like we are just machines of mass production.'
▼ + stars: | 2023-08-20 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +11 min

Chewy's portraits are popular on social media . We also spoke with four Chewy artists who talked on the condition of anonymity, citing fears of retaliation from Chewy and fellow portrait artists. The mysterious Chewy portrait artistFinding a Chewy artist is a lengthy quest for the most enduring online sleuths. Artists told Insider Chewy had withheld artists' information even when both the customer and the artist mutually requested the company share it. AnonymousThe Chewy artists Insider spoke with estimated that their 6-by-6-inch acrylic paintings would be worth between $50 and $70 each if they sold them independently.

Persons: Chewy, they're, Allison Gray, Gray, —, I've, I'm Organizations: Service, Artists Locations: Wall, Silicon, Chewy

☆ Opinion: A powerful weapon for prosecutors is now in the hands of Fani Willis
▼ + stars: | 2023-08-20 | by ( Richard Galant | ) edition.cnn.com time to read: +18 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. In the US, prosecutors are given enormous power to apply the law as they see fit, choosing who to charge and what to charge them with. Evidence of their misdeeds can secure convictions and allow for strict sentences that otherwise couldn’t be imposed. Bill Bramhall/Tribune Content AgencyThe 97-page indictment unveiled by Willis last week cites a lot more evidence than could be arrayed against a sandwich served at lunch. “We are the chief law enforcement officers in each jurisdiction, with the weighty power to deprive others of their freedom,” Aronberg observed.

Persons: CNN — Caesar Enrico “ Rico ” Bandello, Caesar, ”, Edward G, Robinson, Rico, Rudolph Giuliani, Fani Willis, Willis, Giuliani, Donald Trump, Sol Wachtler, Bill Bramhall, Jennifer Rodgers, “, Trump, Ruby Freeman, Shaye Moss, Dave Aronberg, Attorney Alvin Bragg, Aronberg, Jack, Smith, ” Aronberg, Trump Walt Handelsman, James Antle III, ” Antle, ” Trump, Biden, Dean Obeidallah, Clay Jones, Tucker Carlson, Ron DeSantis, Lanhee Chen, Joe Biden, DeSantis, David Axelrod, Axelrod, Vivek Ramaswamy, Rich Lowry, “ Ramaswamy, … ”, Lowry, ” Carrie Sheffield, ” Lisa Benson, GoComics.com, ‘, Julian Zelizer, Jeff Zelevansky, Sandra Bullock, Leigh Anne Tuohy, Jill Filipovic, “ it’s, Michael Oher, Sean, Leigh Anne Tuohy —, … Oher, …, Facebook Filipovic, “ Oher, ” Bradley Cooper’s, ’ “, Leonard Bernstein —, Bradley Cooper, ’ —, David M, Perry, Bernstein, Felicia Montealegre, Carey Mulligan, Cooper, ‘ Maestro, ’, Joel Pett, Agency “, Celia Wexler, Joan Meyer, ” Wexler, Don’t, Ric Ward, Sigrid Fry, Alden Wicker, Jay Michaelson, Al Gore, Lauren Hersh, Rebecca Zipkin, David Andelman, Africa —, Michael Coren, Elsie Robinson, UC Berkeley Elsie Robinson, “ Robinson, Allison Gilbert, ” Gilbert, — Organizations: CNN, ”, New, Appeals, New York Daily News, Department, Electoral, Palm, Manhattan, Attorney, “, White House, of Justice, Trump, Agency, GOP, Republicans, Florida Gov, Republican, Fair, Politico, Hawaii, Federal Emergency Management Agency, FEMA, NFL, Oher, Twitter, Netflix, Rican, ” Press, Marion County, Russia, Hearst, San Francisco Examiner, Bancroft Library, UC Berkeley, Google, Smithsonian Locations: Rico, Fulton County, Atlanta, county’s, Georgia, Coffee County, Palm Beach County , Florida, “, Milwaukee, Iowa, GoComics.com Maui, Maui, Delaware, Hawaii, Tennessee, Costa, Rican American, Marion, The Kansas, Revere, Africa

☆ The Case for Home Births in America
▼ + stars: | 2023-08-19 | by ( Susan Dominus | More About Susan Dominus | ) www.nytimes.com time to read: +3 min

BIRTH CONTROL: The Insidious Power of Men Over Motherhood, by Allison YarrowSeventeen years ago, while pregnant with twins, I was hospitalized for pre-eclampsia before undergoing a cesarean delivery days later. After delivery, I was left alone and shivering in a separate room for easily an hour, without anyone to ask when I could hold my newborn children. At the time, I was only grateful we were all healthy; the submission and alienation the process engendered always seemed beside the point. Yarrow systemically makes the case that the dominant methods of childbirth in America are the clumsy evolution of earlier medical practices that were designed to protect the privilege, status and convenience of 20th-century male doctors. Yarrow convincingly recasts this country’s maternal health care system as needlessly dehumanizing, prioritizing expediency and profit over the best interests of a population of women rendered vulnerable.

Persons: Allison Yarrow, Yarrow, “, surreptitious snippings Organizations: Labor Locations: America

☆ Why it matters that this year’s Women’s World Cup teams ditched white shorts
▼ + stars: | 2023-08-18 | by ( Tara Subramaniam | ) edition.cnn.com time to read: +8 min

CNN —When England take the field at Sunday’s Women’s World Cup final, the team won’t look the same as the one that won the European championship last July. No white shorts. The number of nations whose uniforms feature white shorts decreased from 2019’s tournament, despite the number of participants expanding from 24 to 32. Melton noted that the historical prevalence of white shorts in women’s sports suggests that little to no consideration was given to how women’s bodies differ from men’s. Eugenie Le Sommer of France, one of several teams to switch from white shorts to dark-colored ones at this year's World Cup.

Persons: —, Ireland’s, Lauren Hemp, ”, “, Zealand’s Hannah Wilkinson, Qin Lang, Nicole Melton, ” Allison Smith, meanwhile, ” Smith, — we’re, ‘, “ It’s, Melton, haven’t, ” Melton, she’s, Aryna, Patrick Smith, Clare Hanlon, Hanlon, ” Hanlon, Smith, “ Young, Eugenie Le Sommer, France, Justin Setterfield Organizations: CNN, England, Wimbledon, League, Manchester City, Manchester, Getty, University of Massachusetts Amherst, FIFA, University of Massachusetts, Sports outfitters, “, Victoria University’s Institute of Health, Sport, Nike, “ Nike Locations: England, Zambia, Philippines, Canada, France, Nigeria, South Korea, Xinhua, United States, Europe, South America, University of Massachusetts Boston

REUTERS/John Sommers II/File Photo Acquire Licensing RightsAug 18 (Reuters) - Air cargo enjoyed record demand when COVID-19 closed borders and snarled supply chains. Now, it is reeling from overcapacity and tumbling freight rates as the freight boom makes a hard landing. Passenger jets grounded during the health crisis are flying again and bringing their lower-deck cargo space, which competes with dedicated air freighters, back into play. The Florida-based carrier cited "the unyielding and rapidly mounting macro-economic headwinds that plagued the entire air cargo transportation sector starting in late 2022". In June, air cargo experienced the slowest contraction since February 2022, the International Air Transport Association said.

Persons: John Sommers, Xeneta, they're, Peter Sand, we're, Sand, planemakers, Eddy Pieniazek, expective, Pieniazek, Robert, Tim Hepher, Lisa Bartlein, Allison Lampert, Valerie Insinna, Barbara Lewis Organizations: Parcel Service, UPS, REUTERS, Air, Reuters, Western Global Airlines, Japan Airlines, Xeneta, International Air Transport Association, Ishka, Cathay, HK, Boeing, Airbus, Aeronautical Engineers, Thomson Locations: Louisville , Kentucky, Delaware, Florida, China, Asia, United States, Miami

☆ Evergrande’s bankruptcy may be just the beginning of China’s real estate crisis
▼ + stars: | 2023-08-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Evergrande’s US bankruptcy serves as a cautionary tale about the growth-at-all-costs model that underpinned China’s spectacular growth over the past 30 years. For decades, Evergrande, once one of China’s most successful real estate developers, gobbled up debt as China’s economy exploded. A wave of defaults followed, and China’s vast real estate market has yet to recover. Evergrande's decline has become a cautionary tale about the breakneck growth that defined China's economy for three decades. China’s economy is strugglingIt’s hard to overstate the importance of the property market China.

Persons: Evergrande, Xi Jinping, ” Organizations: New, New York CNN, Getty Locations: New York, AFP, China, Beijing

☆ Premarket stocks: How China's economic turmoil could hurt your portfolio
▼ + stars: | 2023-08-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Why it matters: “For most of the last two decades, China’s economic growth has been a major driver of the global economy,” said Alex Etra, a strategist at data analytics firm Exante. That means that if China’s economy slows down, global economic growth slows down. ExxonMobil (XOM) may not be doing too much business with China, said Etra, but if Chinese growth slows, that means oil prices go down. Earlier this year, Bank of America compiled a list of the S&P 500 companies with the highest exposure to China. The grand total of all the private wealth in the world fell 2.4% to $454.4 trillion last year, according to the annual Credit Suisse and UBS global wealth report.

Persons: Joe Biden, BlackRock, ”, Alex Etra, Michael Burry’s, Allison Morrow, That’s, Jason Hart, Winn, ” Hart, “, Ramishah Maruf Organizations: CNN Business, Bell, New York CNN, country’s National Bureau of Statistics, ExxonMobil, Apple, Intel, Starbucks, Nike, Bank of America, Las, Qualcomm, Nvidia, Wynn Resorts, WYNN, MGM Resorts, MGM, Funds, PitchBook, Michael Burry’s Scion Asset Management, Moore Capital Management, D1 Capital, Tiger Global, Securities, Exchange, Credit Suisse, UBS, Millionaires, Aldi, Dixie, Winn, CNN Locations: New York, Beijing, China, Ukraine, United States, Aldi, Winn

Smoke hangs in the air on the outskirts of Yellowknife after a state of emergency was declared due to the proximity of a wildfire in Yellowknife, Northwest Territories, Canada August 16, 2023. "We have put in place a cap on our fares for non-stop flights out of Yellowknife," said Air Canada, the country's largest carrier, in a statement. Air Canada said it has cancelled flights out of Yellowknife on Saturday to comply with the evacuation order given by the Northwest Territories government. This is how Air Canada plans on helping?" Canada's Transport Minister Pablo Rodriguez will be speaking with Air Canada today to receive an update on the situation on the ground, a spokesperson said.

Persons: Smoke, Pat Kane, WestJet, Pablo Rodriguez, Allison Lampert, Ismail Shakhil, Josie Kao Organizations: REUTERS, Air Canada, WestJet Airlines, Canada's, . Air, Northwest Territories, Air, Facebook, Thomson Locations: Yellowknife, Northwest Territories, Canada, Canadian, Calgary, . Air Canada, Air Canada, Montreal, Ottawa

☆ Wheels Up flies for now, but private-jet rivals see opportunity
▼ + stars: | 2023-08-16 | by ( Allison Lampert | ) www.reuters.com time to read: +4 min

Wheels Up avoided a possible bankruptcy when it secured backing from investors on Tuesday, including U.S. carrier Delta Air Lines (DAL.N). Two operators have closed down since May in the face of diminished traffic and higher labor costs could force some private-jet operators out of business. While private flying remains above 2019 levels, traffic has slowed since the pandemic, when wealthy passengers sought to avoid crowded commercial airports. The company, which provided third-party flying service to Wheels Up, faces a lawsuit from Wheels Up over a contract dispute. Jamie Walker, chairman of U.S. private jet operator Jet Linx, said he sees opportunity for both organic growth and acquisitions due to the softening marketplace.

Persons: Brian Foley, Foley, Jim Segrave, Uber, Dynamics's, Canada's, Travis Kuhn, Justin Crabbe, Andrew Collins, Jamie Walker, Linx, " Walker, Allison Lampert, Ben Klayman, Andy Sullivan Organizations: Delta Air Lines, Rivals, Gulfstream, Canada's Bombardier, U.S, Argus, North, Thomson Locations: U.S, New York, Miami, North Carolina, Montreal

☆ Falling markets sank global wealth in 2022, leaving the world with 3.5 million fewer millionaires
▼ + stars: | 2023-08-16 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

Here’s the deal: The grand total of all the private wealth in the world fell 2.4% to $454.4 trillion, according to the annual Credit Suisse and UBS global wealth report. Meanwhile, global median wealth, a more meaningful indicator of how the typical person is faring, actually rose 3% in 2022. The top 1% of households still hold a staggering 44.5% of all global wealth. “The global economy is experiencing a period of astonishing economic alteration,” wrote Paul Donovan Chief Economist at UBS Global Wealth Management, in the report. Another silver lining: According to Credit Suisse projections, global wealth will rise 38% over the next five years, reaching $629 trillion by 2027.

Persons: CNN Business ’, Joe, ”, Paul Donovan, you’ll Organizations: CNN Business, New York CNN, Credit Suisse, UBS, UBS Global Wealth Management, Suisse Locations: New York, United States, China

☆ Coinbase wins key regulatory approval to offer crypto futures in the US
▼ + stars: | 2023-08-16 | by ( Allison Morrow | ) edition.cnn.com time to read: +1 min

New York CNN —Coinbase has won a crucial regulatory approval that will allow the platform to provide US-based investors access to the crypto derivatives market. The approval comes from the National Futures Association, a self-regulatory body designated by the Commodity Futures Trading Commission, nearly two years after Coinbase applied to register as a futures merchant. Crypto derivatives make up more than 75% of all global crypto trades, but such products had been off-limits for investors in the United States, in part because of their complexity and high levels of risk. “This is a significant milestone for bringing federal regulatory oversight over the crypto markets,” said Faryar Shirzad, Coinbase’s chief policy officer. “Offering US investors access to secure and regulated crypto futures is key to unlocking growth and enabling broader participation in the cryptoeconomy,” said Andrew Sears, the CEO of Coinbase Financial Markets.

Persons: New York CNN — Coinbase, Coinbase, ”, Faryar Shirzad, Andrew Sears Organizations: New, New York CNN, National Futures Association, Commodity Futures Trading Commission, NFA, Securities and Exchange Commission, Binance, Coinbase Locations: New York, United States

☆ Americans Flocked to Cancún for Vacation. Now They’re Thinking Twice.
▼ + stars: | 2023-08-15 | by ( Allison Pohle | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/cancun-mexico-travel-deals-safety-f5a49403

Persons: Dow Jones Locations: cancun, mexico

☆ Coinbase launches nonprofit crypto advocacy group
▼ + stars: | 2023-08-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

The Stand with Crypto Alliance is America’s first independent advocacy group for the crypto community, Coinbase says. Crypto regulation: Questions of who and howA central sticking point is the question of how crypto tokens should be regulated. The Securities and Exchange Commission, Wall Street’s top cop, contends that most crypto products are investment contracts and therefore fall under its jurisdiction — an argument the crypto industry is fighting. ‘Recess is over’The Stand With Crypto Alliance aims to mobilize “the full force of the decentralized crypto community to tell lawmakers: Recess is over,” Shirzad wrote in a blog post announcing the nonprofit. The Coinbase-backed nonprofit is an outgrowth of Crypto435, an earlier Coinbase campaign to try to organize the crypto community around legislative issues.

Persons: New York CNN —, Coinbase, Faryar, ” Crypto, —, Sam Bankman, Fried, ” Shirzad, we’ve, Shirzad Organizations: New, New York CNN, Crypto, CNN Business, Securities, Exchange Commission, SEC, Ripple Labs, Financial Services Committee, Commodity Futures Trading Commission, Crypto Alliance Locations: New York

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/maui-wildfires-recovery-efforts-continue-as-death-toll-hits-55-8ce5a88a

Persons: Dow Jones Locations: maui

My mortgage broker demystified the homebuying process and guided me step by step. Here's how my mortgage broker and I worked out a plan to make my dreams of homeownership a reality and how I'm preparing for mortgage renewal in the not-too-distant future. See Insider's picks for the best mortgage lenders »My mortgage broker ran the numbers for different scenariosI spoke with a few mortgage brokers before deciding to work with the brilliant Lisa Okun. Compare today's 30-year mortgage rates »I know renegotiating my mortgage will be complexI like to know how much I'm going to need to spend. Because the interest rates in Canada were so low at the time (around 2.5%), I felt good about locking into that rate.

Persons: Lisa Okun, Lisa, They've Organizations: Service Locations: Wall, Silicon, Ontario, Canada

☆ Air Canada beats quarterly profit estimates, flags strong demand
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +3 min

An Air Canada airplane is towed along a runway at Toronto Pearson Airport in Mississauga, Ontario, Canada April 28, 2021. Air Canada pilots anticipate sitting down for labor talks with the carrier in the next couple of weeks, a union official said. Montreal-based Air Canada said it expects to grow available seat mile capacity for 2023 by 21% compared with a year earlier. For the quarter ended June 30, Air Canada reported adjusted net income of C$664 million ($493.97 million), or C$1.85 per diluted share. In May, Air Canada said it expected CASM of about 0.5% to 2.5% below 2022 levels.

Persons: Carlos Osorio, Charlene Hudy, Hudy, Mike Rousseau, Shivansh Tiwary, Allison Lampert, Devika Syamnath, Frances Kerry, Elaine Hardcastle, Jonathan Oatis Organizations: Air Canada, Toronto Pearson Airport, REUTERS, North, Air Canada Pilots Association, Canadian, Air, Thomson Locations: Toronto, Mississauga , Ontario, Canada, U.S, Montreal, Air Canada, Bengaluru

☆ Air Canada beats on quarterly profit versus year-ago loss
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

An Air Canada airplane is towed along a runway at Toronto Pearson Airport in Mississauga, Ontario, Canada April 28, 2021. REUTERS/Carlos OsorioAug 11 (Reuters) - Air Canada (AC.TO) reported a better than expected quarterly profit on Friday compared with a year-ago loss and is adding capacity as the country's largest airline cashes in on strong international travel demand. Air Canada reported some relief in a 31.4% decrease in jet fuel prices during the second quarter. For the quarter ended June 30, Air Canada reported adjusted net income of C$664 million ($493.97 million), or C$1.85 per diluted share. In May, Air Canada said it expected CASM of about 0.5% to 2.5% below 2022 levels.

Persons: Carlos Osorio, Shivansh, Allison Lampert, Devika Syamnath, Frances Kerry Organizations: Air Canada, Toronto Pearson Airport, REUTERS, North, Air, Thomson Locations: Toronto, Mississauga , Ontario, Canada, Montreal, Air Canada, Bengaluru

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/maui-wildfires-recovery-efforts-continue-as-death-toll-hits-55-8ce5a88a

Persons: Dow Jones Locations: maui

New York CNN —Sam Bankman-Fried, the alleged crypto grifter, is about to learn which of two profoundly divergent paths he’ll take on the road to trial. One path allows him to continue his house arrest in the comfort of his parents’ California home. If his bail is revoked, Bankman-Fried will be immediately remanded to a notorious federal detention center in Brooklyn. Bankman-Fried, who has pleaded not guilty to multiple conspiracy and fraud charges, is set to go to trial in October. But the company came unglued in the span of a week last November — as concerns about its financial ties to Bankman-Fried’s crypto hedge fund, Alameda Research, spurred investors and customers to yank their funds.

Persons: Sam Bankman, ’, Judge Lewis Kaplan, “, ”, Fried, Caroline Ellison, FTX Organizations: New, New York CNN, Bankman, Metropolitan Detention Center, New York Times, of Prisons, Prosecutors, Super Bowl, Alameda Research Locations: New York, ’ California, Brooklyn, Bahamas

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