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In February, the first full month since China's border reopened, Australia recorded 40,430 short-term visitors from China, government data showed. Government marketing body Tourism Australia declined to comment. Trade promotion office Austrade said Tourism Australia's managing director visited China in March to meet strategic partners such as airlines and the body would "continue to work closely with its key distribution partners in the market to realise tourism opportunities between Australia and China". China was Australia's biggest source of foreign students until 2019, but students of other nationalities have filled its foreign student ranks since Australia reopened its border in 2021. "When Chinese tourists return en masse, I'm worried that the supply will not catch up with demand," he said.

☆ Goldman Sachs, JPMorgan stake competing claims to No. 1 deal advisory spot
▼ + stars: | 2023-04-04 | by ( Anirban Sen | ) www.reuters.com time to read: +3 min

JPMorgan edged out Goldman to claim the top spot in global league tables compiled by Refinitiv Deals Intelligence, having worked on $119.8 billion worth of deals versus $115.4 billion for Goldman in second place. In Dealogic's global league tables, however, Goldman claimed the top spot in the first quarter with $120.5 billion worth of deals. The discrepancies led to Goldman asking Refinitiv and JPMorgan asking Dealogic for explanations, according to people familiar with the conversations. Goldman Sachs, JPMorgan stake competing claims to No. 1 spot, though there are some known differences in how the league tables of Refinitiv and Dealogic are compiled.

☆ Fitness chains add financial muscle as more Americans hit the gym
▼ + stars: | 2023-03-22 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Some of the major players in the fitness sector have pushed the envelope on membership rates after the pandemic scare, helping them beef up earnings, when most other industries are under stress from the impact of a cautious consumer. Larger rival Planet Fitness Inc (PLNT.N) added 400,000 members in the fourth quarter, taking the total to about 17 million in 2022. "People that are working out, are working out slightly more than they did in the past ... So even with the recessionary talks and layoffs you see, cancellations are just slightly better," Planet Fitness CEO Chris Rondeau said at a JPMorgan conference last week. A Planet Fitness executive said Gen Z represented 25% of the company's total membership.

Online searches by Americans for flights to Europe trips are surging despite soaring air fares, a worsening economic outlook and risks of gridlock at some of the airports in Europe. The travel boom is promising record profit margins at some U.S. carriers, which are ramping up transatlantic capacity to cash in on Americans' thirst for travel to Europe. Travel website Kayak said searches for travel to Europe this summer are up 77% from last year. There is still untapped travel demand for Europe even after a busy summer last year, said Hayley Berg, lead economist at Hopper. Average fare for a round-trip flight to Europe, meanwhile, has risen 31% from last year, Hopper data shows.

[1/3] Starbucks cups are pictured on a counter in the Manhattan borough of New York City, New York, U.S., February 16, 2022. REUTERS/Carlo AllegriFeb 2(Reuters) - Starbucks Corp (SBUX.O) missed Wall Street expectations for quarterly comparable sales on Thursday, as persistent weakness in the coffee chain's China business offset strong sales in the North American market. That resulted in a 29% fall in China comparable sales for Starbucks in its first fiscal quarter ended Jan. 1, pulling total international comparable sales down 13%. Global comparable sales at Starbucks rose 5%, compared with analysts' average estimate of a 6.75% rise, according to Refinitiv IBES data. Starbucks reiterated its previous guidance of global comparable sales growth of 7% to 9% for its fiscal 2023.

☆ McDonald's tops profit estimates, warns short-term inflation to persist
▼ + stars: | 2023-01-31 | by ( Hilary Russ | ) www.reuters.com time to read: +3 min

[1/3] McDonald's Crispy Chicken Sandwiches and fries are pictured in New York, U.S. March 30, 2021. REUTERS/Hilary RussJan 31 (Reuters) - McDonald's Corp (MCD.N) on Tuesday beat Wall Street estimates for quarterly profit on higher menu prices, even as it warned short-term inflationary pressures would persist in 2023. McDonald's benefited from higher menu prices, increased restaurant traffic and sales in the UK, Germany and France rose despite fears of a recession in Europe. Visits to some other fast-food chains started to fall last summer as they hiked menu prices, he said. McDonald's U.S. comparable sales rose 10.3% in the quarter ended Dec. 31.

☆ McDonald's sales surge, warns short-term inflation to persist
▼ + stars: | 2023-01-31 | by ( Hilary Russ | ) www.reuters.com time to read: +3 min

[1/2] A huge advertisement for a branch of fast-food giant McDonald's is seen on the outskirts of Berlin, Germany, April 22, 2016. The burger chain's global same-store sales increased 12.6% in the fourth quarter ended Dec. 31, compared with estimates for an 8.6% rise, according to IBES data from Refinitiv. That is compared to a 0.6% decline for fast food overall in the fourth quarter over the previous year. Visits to some other fast-food chains started to fall last summer as they hiked menu prices, he said. McDonald's U.S. comparable sales rose 10.3% in the quarter.

☆ McDonald's beats profit estimates, warns short-term inflation to persist
▼ + stars: | 2023-01-31 | by ( Hilary Russ | ) www.reuters.com time to read: +3 min

REUTERS/Hilary RussJan 31 (Reuters) - McDonald's Corp (MCD.N) on Tuesday beat Wall Street estimates for quarterly profit on higher menu prices, even as it warned short-term inflationary pressures would persist in 2023. McDonald's benefited from higher menu prices, increased restaurant traffic and sales in the UK, Germany and France rose despite fears of a recession in Europe. Even so, traffic rose 5% for full-year 2022 as McDonald's meals remained less expensive than many competitors, drawing low-income consumers. Visits to some other fast-food chains started to fall last summer as they hiked menu prices, he said. McDonald's U.S. comparable sales rose 10.3% in the quarter ended Dec. 31.

☆ What is NOTAM, the FAA computer system that halted all US flights?
▼ + stars: | 2023-01-11 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

It is separate from the air traffic control system that keeps planes a safe distance from each other, but it’s another critical tool for air safety. The FAA also operates the nation’s air traffic control system, with air traffic controllers using radar to track all planes in their air space and radio communications with their cockpits to guide them safely. If no new problems crop up, flights should return to normal soon, though it may take time to get all the delayed flights in the air. Just before noon ET Wednesday, tracking service FlightAware shows about 7,000 delayed flights to, from and within the United States, with nearly 1,100 canceled flights altogether. But if the problem stretches too long, flight crews who are standing by to fly delayed flights will run out of time in their service day.

☆ Netflix's new ad tier plan appears to be working
▼ + stars: | 2023-01-09 | by ( Lucia Moses | Ryan Joe | ) www.businessinsider.com time to read: +5 min

Netflix's new ad-supported tier accounted for 13% of subscribers in its first month, new Evercore research found. Evercore believes the ad tier is driving incremental subscriber growth for Netflix. The firm upgraded its rating on Netflix in September based on its ad-supported tier and plan to crack down on password-sharing, which are expected to drive earnings and share price. Netflix's ad tier entered a crowded field of streaming services, including ad-supported versions, from Disney's Hulu to Comcast's Peacock to Warner Bros. Netflix's ad tier was followed close behind Disney+ with Ads launching in December, and Warner plans to launch a combined Discovery+-HBO Max app in spring with an ad-supported tier.

☆ Netflix's ad tier drove 13% of subscriptions in its first month, new survey shows
▼ + stars: | 2023-01-06 | by ( Lucia Moses | Ryan Joe | ) www.businessinsider.com time to read: +5 min

Netflix's new ad-supported tier accounted for 13% of subscribers in its first month, new Evercore research found. Evercore believes the ad tier is driving incremental subscriber growth for Netflix. Netflix's new ad-supported tier accounted for 13% of the streamer's subscribers in its first month, with about half being new or returning users to the streamer, according to new research from Evercore ISI. Netflix's ad tier entered a crowded field of streaming services, including ad-supported versions, from Disney's Hulu to Comcast's Peacock to Warner Bros. Netflix's ad tier was followed close behind Disney+ with Ads launching in December, and Warner plans to launch a combined Discovery+-HBO Max app in spring with an ad-supported tier.

☆ Netflix’s Ad Jingle to Take Time to Catch On
▼ + stars: | 2022-12-20 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Netflix recently launched its first ad-supported streaming plan as part of its efforts to expand its subscriber base. The idea of Netflix with ads is clearly going to take some time to adjust to. The company formally launched its first ad-supported streaming plan on Nov. 3. Only 9% of subscribers who signed up for Netflix in November picked the ad-supported option, subscription analytics firm Antenna told The Wall Street Journal. That falls below the 15% of new HBO Max subscribers who picked the ad-supported tier of that service during its first month in June of last year, per Antenna’s data.

☆ Netflix’s Ad-Supported Tier Was Its Least Popular Plan, Analytics Firm Estimates
▼ + stars: | 2022-12-20 | by ( Sarah Krouse | ) www.wsj.com time to read: 1 min

Netflix ‘s new ad-supported plan was the least popular tier of its service in November, the first month in which the streaming giant offered it, according to subscription analytics firm Antenna. The plan accounted for 9% of new Netflix sign-ups in the U.S. during the month. Some 57% of subscribers to the ad-supported tier in the first month were people re-joining the service or signing up for the first time, while 43% downgraded from pricier plans, according to Antenna.

☆ Netflix’s Ad-Supported Tier Was Its Least Popular Plan in Launch Month, Analytics Firm Estimates
▼ + stars: | 2022-12-20 | by ( Sarah Krouse | ) www.wsj.com time to read: 1 min

Twenty people who were on a Hawaiian Airlines flight near Honolulu suffered significant injuries when the jetliner bucked violently in a patch of turbulent air Sunday, officials said. The aircraft was at capacity, with 278 passengers, eight flight attendants and two pilots on board, when the incident shook it enough to damage interior panels and cause head injuries for multiple people, Hawaiian Airlines officials said. Flight 35 was at a cruising altitude of 36,000 feet when it hit the patch, Hawaiian Airlines Chief Operating Officer Jon Snook said at a news conference Sunday. Fasten seat belt lights were on at the time, but at least some of the injured were not restrained properly, airlines officials said. Such a level of turbulence has not affected a Hawaiian Airlines flight since the century began, Snook said.

☆ Flights to Europe for Less Than $500? 5 Under-the-Radar, Temptingly Affordable Airlines
▼ + stars: | 2022-12-15 | by ( Barbara Peterson | ) www.wsj.com time to read: +1 min

UNIDENTIFIED FLYING OBJECTS A fleet of new or newly expanded airlines are flying from U.S. cities to top travel destinations in Europe and promoting fares for as little as $135 one-way. TOYING WITH THE idea of a European vacation next year but haven’t booked your trip? Experts, forecasting a travel boom across the pond in 2023, say affordable fares could become increasingly scarce. Mike Arnot, a spokesman for aviation analytics firm Cirium, said shoppers could reap savings of around 25% by booking on these under-the-radar carriers. From Iceland, Play offers connecting flights to Paris, Berlin, Prague, Barcelona and other European cities.

☆ Brits told to rethink Christmas plans with strikes set to hit flights and train travel
▼ + stars: | 2022-12-09 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

A train makes its way through the snow in Penistone, South Yorkshire, in March 2022. Passengers face Christmas travel disruption as workers strike over pay and working conditions. LONDON — Passengers traveling into or around the U.K. over the holiday period face significant disruption due to strikes, with the government urging people to reconsider their plans. Airport staff working for the U.K. Border Force are due to walk out from Dec. 23 to 26, and again from Dec. 28 to New Year's Eve. It will impact services at the U.K.'s busiest airport, London Heathrow, as well as London Gatwick, Manchester, Birmingham, Cardiff and Glasgow.

☆ UK airports face Christmas disruption as border staff to strike
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

LONDON, Dec 7 (Reuters) - Border Force workers at several major British airports including the country's busiest, Heathrow, will go on strike for eight days this month in a dispute over pay, threatening disruption to Christmas travel. The PCS trade union said staff employed by Britain's interior ministry in passport booths would take action at London's Heathrow and Gatwick airports and a handful of regional ones, plus the Port of Newhaven. The union's General Secretary Mark Serwotka said around 2,000-3,000 staff would be involved in the walkouts on ever day but one between Dec 23-31. A Heathrow spokesperson said the airport was working with airlines and Border Force on plans to mitigate disruption. Gatwick said it expected flights to operate as normal and it would also make extra airport staff available to help passengers on strike days.

☆ Premarket stocks: The corporate world has a succession problem
▼ + stars: | 2022-12-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

It’s been a nasty year for Fortune 500 companies and top executives are paying for it: CEOs are exiting in droves. CEO exits eased in the third-quarter, but the C-suite door seems to be revolving again as a slew of Fortune 500 CEOs have said their goodbyes this month. Looking back: One way to avoid the succession problem is to recycle an old CEO. On average, the annual stock performance of companies led by boomerang CEOs was 10.1% lower those with a first-stint leader, he found. Shares of movie theater chain AMC (AMC) have also plummeted 55% this year.

☆ The very last 747 jumbo jet is about to roll off Boeing’s assembly line
▼ + stars: | 2022-12-06 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN Business —After 53 years and more than 1,570 planes, the last Boeing 747 is set to roll off the assembly line in Washington state Tuesday, on its way to serve as a cargo plane. The once-groundbreaking jumbo jet, with the distinctive second-floor bulge, is perhaps the most notable and popular plane Boeing has ever built. The Boeing 747 in 1969. Other than that use, the 747’s days as a passenger plane are now almost completely behind it. But there are still 314 747 freighters in use, according to Cirium, many of which were initially used as passenger jets before being renovated into freighters.

☆ American Airlines is closing its San Francisco crew base and asking 400 flight attendants to leave California or leave the airline
▼ + stars: | 2022-12-03 | by ( Hannah Towey | ) www.businessinsider.com time to read: +9 min

American Airlines is closing its San Francisco base, potentially displacing 400 flight attendants. The base is home to some of the carrier's most senior flight attendants, two-thirds of whom have been at the airline for 13 years or more, according to the union representing American Airlines flight attendants. In interviews, 10 SFO-based flight attendants told Insider that a myriad of factors make it difficult to leave the Bay Area. The decades of experience with the goal of achieving that lifestyle are now effectively lost, one flight attendant told Insider. Some employees expressed confusion on why they need to leave San Francisco if the carrier will still need to staff SFO flights.

☆ Get ready for the most expensive holiday travel season ever
▼ + stars: | 2022-11-20 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

US gas prices are higher than they’ve ever been at this time of year. “Holiday travel has come back as strong as ever, and leisure travel is why that recovered,” said Scott Keyes, founder of travel site Scott’s Cheap Flights. “Holiday travel is definitely more expensive than we’ve seen in previous years,” said Hayley Berg, chief economist for Hopper. Even with the annual surge in holiday travel, the amount of driving in November and December is typically well below the summer driving season. Other travel costsHotel prices also are more expensive than they’ve ever been this time of year.

Nov 14 (Reuters) - Walmart (WMT.N) and Target (TGT.N) results this week are likely to show that major retailers are heading for a turbulent holiday season as rampant inflation has made everything from toothpaste to Christmas sweaters more expensive for shoppers. "We have our expectations set really low, it's a difficult environment," said Bill Smead, chief investment officer of Smead Capital Management, which owns Target shares worth more than $200 million. Smead said recent warnings around demand from FedEx and Amazon did not bode well for retailers this season. The economic slowdown has led to expectations of a more muted holiday shopping season with everyone from Amazon to Walmart kick-starting holiday deals early to clear excess merchandise. However, Walmart and Target's scale and ability to undercut smaller retailers on price may still help them fare better than others as they attract more cost-conscious consumers looking to do their Christmas shopping on a budget, analysts said.

☆ Elon Musk could be what makes diehard Twitter users finally rethink their habit
▼ + stars: | 2022-11-06 | by ( Travis Clark | ) www.businessinsider.com time to read: +6 min

It also still remains to be seen whether Musk will lead to a meaningful surge in Twitter exits, or if his changes could attract more users. Even before Musk announced planned changes to the platform, some people threatened to quit Twitter over his ownership. "After some introspection, I've made the decision to focus my time and energy elsewhere and move on from Twitter," Nibel tweeted. Producer Shonda Rhimes, who joined Twitter in 2008, tweeted on Saturday, two days after Musk's acquisition was final, "Not hanging around for whatever Elon has planned. Critics have said they're worried, however, about a potential rise in misinformation on Twitter under Musk.

☆ McDonald's beats sales estimates on boost from pricier menu
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

Oct 27 (Reuters) - McDonald's Corp (MCD.N) beat quarterly comparable sales estimates on Thursday, helped by higher menu prices and an increase in restaurant traffic from inflation-weary customers looking for value meals. Chipotle Mexican Grill Inc (CMG.N) on Tuesday also beat quarterly sales and profit estimates as it passed on higher prices to customers. Comparable sales for McDonald's in the United States, the company's biggest market, rose 6.1% in the reported quarter helped by higher prices. Analysts have noted that an easing in gas prices also boosted third-quarter restaurant sales in the United States in general after a slowdown in June. That still beat estimates of $5.69 billion.

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