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At 34, he was the city’s youngest ever mayor, and he campaigned on a promise of self-determination for the predominantly Black city. It’s an ongoing factor in Mississippi politics,” said Leslie McLemore, a former Jackson State University political science professor who also once sat on the Jackson City Council. That was on top of years of boil-water notices that eroded residents’ trust in the city’s water supply. In April, a push by conservative legislators to strip local control of the city’s water system failed for the second time in the House. Rogelio V. Solis / AP fileByron D'Andra Orey, a political science professor at Jackson State University, said the bribery scandal could shape the municipal elections.

Persons: JACKSON, —, Chokwe Antar Lumumba, Jackson, Lumumba, Jody Owens, Aaron Banks, Angelique Lee . Lumumba, Owens, Banks, Lee, “ I’m, Virgi Lindsay, Lindsay, ”, Leslie McLemore, ” McLemore, ” Jackson, Lauren Witte, Ronnie Crudup Sr, “, that’s, Jacksonians, “ It’s, ” Kim Meeks, Rogelio V . Solis, Zakiya Summers, Summers, Tate Reeves, Reeves, Bill, “ H.B, Liam Kennedy, Chokwe Lumumba, Tupac Shakur, ” Jacksonians, Rukia Lumumba, Annie Cooper, Jan, Byron D'Andra Orey, CJ Rhodes, Mount Organizations: Miss, City, Republican, Democratic, Jackson State University, Jackson City Council, USA, New Horizon Church, City Council, DA, Rep, U.S . Justice Department, NAACP, Mississippi Army National Guard, Lumumba, Clarion, Ledger, ”, State Capitol, Mount Helm Baptist Locations: Black, Hinds, ”, Mississippi, Jackson, Mississippi’s, Jackson’s Fondren, Hinds County, “, Northwest Jackson, Mount Helm

☆ Budget travel icon Spirit Airlines files for bankruptcy protection after mounting losses
▼ + stars: | 2024-11-18 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Passengers check in at the Spirit Airlines counter at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida. Spirit Airlines , an icon of budget air travel that reshaped the industry, has filed for bankruptcy protection after years of mounting losses, a failed merger and more demanding consumer tastes. The airline said it expects to continue operating normally and said told customers can continue to book as the busy holiday season approaches. Spirit is the first major U.S. airline to file for Chapter 11 since American Airlines 13 years ago. Spirit filed for protection in U.S. Bankruptcy Court of the Southern District of New York.

Persons: Ted Christie, Spirit Organizations: Spirit Airlines, Fort, Hollywood International Airport, Fort Lauderdale , Florida . Spirit Airlines, U.S, American Airlines, JetBlue Airways, Bankruptcy, Southern, of, New York Stock Exchange Locations: Fort Lauderdale, Fort Lauderdale , Florida, , Florida, of New York

☆ CVS strikes deal with activist Glenview Capital for four board seats
▼ + stars: | 2024-11-18 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

CVS Health announced on Monday that it struck a deal with dissident investor Glenview Capital for four board seats, just a few weeks after the healthcare giant ousted former chief Karen Lynch. Glenview CEO Larry Robbins will join the CVS board effective immediately, alongside three other directors, which CVS said emerged from a "productive discussion" with Glenview. CVS' board will expand to 16 members. Glenview amassed a sizable stake in the healthcare conglomerate and worked with management in the lead-up to Lynch's ouster. Elliott Management struck a deal with Southwest Airlines in October in which the activist fund secured six seats on the carrier's board.

Persons: David Joyner, Karen Lynch, Larry Robbins, Roger Farah, Leslie Norwalk, Guy Sansone, Doug Schulman, Glenview's Robbins, Ancora, Alan Shaw Organizations: CVS, Health, Education, Labor, Washington , D.C, CVS Health, Glenview Capital, Glenview, Elliott Management, Southwest Airlines, Norfolk Locations: Washington ,, Glenview, Norfolk Southern

☆ What travelers need to know about Spirit Airlines' bankruptcy
▼ + stars: | 2024-11-18 | by ( Leslie Josephs | ) www.cnbc.com time to read: +4 min

In this article SAVE Follow your favorite stocks CREATE FREE ACCOUNTA passenger waits for assistance at the Spirit Airlines check-in counter in the Austin-Bergstrom International Airport on November 13, 2024 in Austin, Texas. Brandon Bell | Getty ImagesSpirit Airlines has filed for Chapter 11 bankruptcy protection, becoming the first major U.S. passenger carrier to do so since American Airlines 13 years ago. Here's what travelers need to know:Why did Spirit file for bankruptcy? Spirit said Monday that it has reached a prearranged deal with the majority of its bondholders for a "streamlined" Chapter 11 bankruptcy protection plan. Rather, it gives the airline protection to reorganize its business, which often means shedding assets or parts of its operation.

Persons: Brandon Bell, Ted Christie, Spirit, —, Henry Harteveldt, Harteveldt Organizations: Spirit Airlines, Austin, Bergstrom International Airport, Getty, Airlines, U.S, American Airlines, Airbus, JetBlue Airways, Atmosphere Research, Spirit Locations: Austin , Texas

☆ Greenlight's David Einhorn says the markets are broken and getting worse
▼ + stars: | 2024-11-14 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

As he has done several times before, Einhorn pointed a finger at passive, index investors: "The passive people, they don't care what the value is." "I view the markets as fundamentally broken," Einhorn said back in February on Barry Ritholtz's "Masters in Business" podcast. "You have these companies, and all they do is they manage these expectations, right?," Einhorn told Picker. This is causing great pain to value investors like Einhorn, many of whom have seen cash flee their funds. Another reason for long-term underperformance by active managers: They are competing against other active managers who have very little competitive edge against each other.

Persons: David Einhorn, Greenlight Capital's David Einhorn, Leslie Picker, Einhorn, It's, Picker, Barry Ritholtz's, Rob Arnott, Arnott, there's, doesn't, RAFI, you'd, I'm Organizations: Greenlight Capital, CNBC Delivering Alpha Investor, Alpha, CNH, Interactive, Cornell grad, Research Affiliates, P Global Locations: New York City, U.S

☆ Why the market should prepare for inflation to return in Trump second term, according to hedge fund investor David Einhorn
▼ + stars: | 2024-11-14 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +3 min

"We have increased our bets on inflation," he told CNBC's Leslie Picker at CNBC's Delivering Alpha investor summit on Wednesday. "We will have another inflection up in inflation," he said. "The policy mix being proposed is inflationary and we will see more of that over the next few years." The latest CPI data released Wednesday showed inflation in line with market expectations, at 2.6%. There is an argument for tolerating it and trying to run the economy as hot as possible.

Persons: David Einhorn, Donald Trump's, CNBC's Leslie Picker, Einhorn, bearish, Nelson Peltz, Trump, Harris, You've, you've, Anne Walsh Organizations: Greenlight, Alpha, Trump, Maytag, Trian, Guggenheim Partners Investment Management Locations: U.S

☆ FAA bans U.S.-Haiti flights for 30 days after Spirit Airlines flight struck by gunfire
▼ + stars: | 2024-11-12 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

The Federal Aviation Administration on Tuesday banned U.S. civilian flights to and from Haiti for 30 days after a Spirit Airlines airplane was struck by gunfire trying to land in Port-au-Prince a day earlier. The FAA's ban also prohibits U.S. flights from traveling under 10,000 feet in Haiti's airspace. On Monday, Spirit Airlines Flight 951 from Fort Lauderdale, Florida, diverted to Santiago in the Dominican Republic at around 11:30 a.m. after it was damaged by gunfire, the airline said. Spirit said one flight attendant on board "reported minor injuries" and that no passenger injuries were reported. JetBlue Airways and American Airlines have also canceled flights to the Haitian capital.

Persons: Spirit Organizations: Federal Aviation Administration, Spirit Airlines, U.S, JetBlue Airways, American Airlines, The U.S . State Department Locations: Haiti, Port, Fort Lauderdale , Florida, Santiago, Dominican Republic, The

☆ Boeing delivers fewest planes in October since 2020, warns factory restart after strike will take weeks
▼ + stars: | 2024-11-12 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

An employee works in the cockpit of a Boeing P-8 Poseidon maritime patrol aircraft on the production line at Boeing's 737 factory in Renton, Washington, November 18, 2021. Boeing machinists approved a new contract last week that included 38% pay raises over four years and other improvements, ending a more than seven-week strike that halted output of most of Boeing's aircraft production. Boeing's 787 Dreamliner production continued during the strike because those planes are made in a nonunion factory in South Carolina. Despite the strike pause, Boeing continued to sell dozens of aircraft in October, with 63 gross orders, two shy of September's total. Forty of them are 737 Max 8s for the Avia Solutions Group.

Persons: Max, Kelly Ortberg Organizations: Boeing, Avia Solutions, LATAM Airlines Locations: Renton , Washington, Washington state, Oregon, South Carolina

☆ Hedge funds performed better under Democratic presidents than Republican ones, history shows
▼ + stars: | 2024-11-12 | by ( Leslie Picker | ) www.cnbc.com time to read: +1 min

NYSEThere's been a rush of enthusiasm on Wall Street regarding Donald Trump's election win, but hedge funds actually generate more alpha when the White House is occupied by a Democrat president than a Republican one, according to HFR, collating data going back to 1991. But during Democratic administrations, the gap was about 183 basis points, with hedge funds delivering average, annualized returns of 10.16%, compared to 11.99% from the S&P 500. Zoom In Icon Arrows pointing outwards HFRWhen compared with the a bond index, HFR found that hedge funds under both parties outperformed – with stronger alpha when a Democrat was in the White House. Zoom In Icon Arrows pointing outwards HFRSurprisingly, the way that hedge fund participants donate in elections was a bit more tilted toward one party. Zoom In Icon Arrows pointing outwards Open Secrets

Persons: Donald Trump's, annualized, HFR Organizations: New York Stock Exchange, NYSE There's, Republican, Democratic, Democrat Locations: HFR

☆ Hedge funds performed better under Democratic presidents than Republican ones
▼ + stars: | 2024-11-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHedge funds performed better under Democratic presidents than Republican onesCNBC's Leslie Picker joins 'Closing Bell: Overtime' to discuss hedge fund performance under the two major political parties.

Persons: CNBC's Leslie Picker Organizations: Democratic

☆ Menendez supporters say brothers should go free — but prosecutors who tried them believe they got what they deserved
▼ + stars: | 2024-11-08 | by ( Tim Stelloh | Tim Stelloh Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +13 min

Erik and Lyle Menendez no longer pose a public safety risk and have paid their debt to society, Gascón told reporters. Menendez brothers, Erik, left, and Lyle at their Beverly Hills home in November 1989. Ronald L. Soble / Los Angeles Times via Getty Images fileJuan Mejia, now a head deputy for the Los Angeles County District Attorney’s Office, raised another concern. From left to right; Erik Menendez with his attorney, Leslie Abramson and Lyle Menendez in Los Angeles, Calif on March 9, 1994. Myung Chun / Los Angeles Times via Getty Images fileWhen they committed their crimes, Gascón said, they were younger than 26.

Persons: Erik, Lyle Menendez, “, Pamela Bozanich, ”, Menendez, Chance, Kitty Menendez, George Gascón —, —, Gascón, it’s, José Menendez, gunning, Lyle, Ronald L, Juan Mejia, Mejia, Lyle’s, ” Mejia, Dateline ”, resentencing, they’ve, Nathan Hochman, Hochman, Les Zoeller, who’d, Zoeller, Erik Menendez, Leslie Abramson, Ted Soqui, Ted, they’d, Bozanich, ” Bozanich, ‘, ’, Ann Wolbert Burgess, Mark J, Terrill, Jose, he’d, ” Gascón, They’ve, George Gascón, Myung Chun, Mark Geragos, Andy Cano, Kitty, Jose Menendez, NBC “ I’ve, Andy Organizations: NBC News, Los Angeles, “ Dateline, Beverly Hills, Los Angeles Times, Getty, Los Angeles County, Attorney’s Office, Dateline, Incoming, Angeles, Beverly, Rolex, Porsche, Court, Netflix, “, NBC, Attorney’s Locations: Los, Los Angeles County, Angeles County, Los Angeles, Calif, San Diego, ’ ”, Van Nuys, California

☆ Musk's legal battles pile up as Twitter's ex-CMO becomes the latest to sue him
▼ + stars: | 2024-11-07 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

Twitter's ex-CMO, Leslie Berland, is suing Elon Musk, saying she is owed $20 million in severance. The same week as Berland's filing, Twitter's ex-CEO got the go-ahead to proceed with a similar suit. AdvertisementTwitter's former chief marketing officer, Leslie Berland, is suing Elon Musk, saying she is owed over $20 million in unpaid severance. The documents state that a Twitter employee who was there on Bertrand's recommendation cautioned Musk against reinstating Trump in front of the advertisers, leaving him "embarrassed and angry." Related storiesBerland claims she was wrongly denied about $20 million in benefits owed to her under Twitter's policy.

Persons: Leslie Berland, Elon Musk, Twitter's, —, Berland, Musk, Xavi, Donald Trump's, Parag Agrawal, Maxine Chesney Organizations: Service, Bloomberg Law, Twitter, Cannes Lions, Trump, Business, Verizon, Bloomberg Locations: California's, California, Ireland

While many Silicon Valley VCs and founders aren't huge Trump fans, their industry thrives when startups are getting acquired or going public quickly. The Biden administration clamped down heavily on tech M&A, so Trump's win could be a financial boon for the sector. Stephen Hays, the founder and managing partner of What if Ventures, said money is already moving again. AdvertisementBig Tech returns to the tableAs president, Trump could roll back some of the antitrust policies that his opponent would have continued. "People are keeping to themselves and just getting on with their business," said Conrad Burke, a managing partner of MetaVC Partners.

Persons: Kamala Harris, Reid Hoffman, Laurene Powell, Vinod Khosla, Harris, Donald Trump's, aren't, Biden, There's, Jordan Nof, Stephen Hays, Trump, Elon, Lina Khan's, Lulu Cheng Meservey, Y, Lina Khan, Kevin Dietsch, Brandon Brooks, — Trump's, JD Vance —, Chris Farmer, Mason Angel, Louis Lehlot, Lardner, Michael Greeley, Crypto, hasn't, Gary Gensler, Bitcoin, Brian Garrett, Garrett, Jenny Fielding's, Fielding, Conrad Burke, Leslie Feinzaig, bundlers, Kamala, I've Organizations: Democrat, White House, Trump, Tusk Venture Partners, Ventures, Tech, Federal Trade, Investors, Foley, Big Tech, Markets, Flare Capital, Biden, SEC, Crosscut Ventures, Google, Microsoft, MetaVC Partners Locations: Europe

☆ Boeing’s strike ends after machinists approve new labor contract with 38% wage increases
▼ + stars: | 2024-11-05 | by ( Leslie Josephs | ) www.nbcnews.com time to read: 1 min

Boeing machinists approved a new labor deal Monday that ends a more than seven-week strike that halted most of the company’s aircraft production. Machinists voted 59% in favor of the new contract, which includes 38% wage increases over four years. It was their third vote since walking off the job on Sept. 13 when they overwhelmingly rejected an earlier proposal promising 25% raises, far short of the 40% the union sought. This is a developing story. Please check back for updates.

Persons: Machinists Organizations: Boeing

☆ Google and Meta are blocking political ads to combat misinformation. Some experts say it’s too late
▼ + stars: | 2024-11-05 | by ( Clare Duffy | ) edition.cnn.com time to read: +11 min

Meta last week began blocking advertisers from creating or running new ads about US social issues, elections or politics across its platforms, including Facebook and Instagram. But experts say that previous moves by social media companies — such as cutting their own internal safety teams — could undercut their current efforts. Former President Donald Trump and many of his supporters have already made repeated false claims that Democrats are cheating in the election. But since then, those companies have made cuts to those teams and walked back policies designed to restrict false claims about politics and elections. Last year, they said they would no longer remove false claims that the 2020 election was stolen.

Persons: TikTok, Elon Musk, Donald Trump, What’s, Twitter, Musk, we’ve, ”, Sacha Haworth, ” Imran Ahmed, “ It’s, —, Trump, Helene, Harris, Ahmed’s CCDH, Ahmed, ” Ahmed, Leslie Miller, ” Mann, X, Biden, Kamala, Kamala Harris Organizations: New, New York CNN, Facebook, Google, Meta, Capitol, Tech, Center, CNN, Biden, Trump, YouTube, ” Meta, Associated Press, Integrity Locations: New York, Milton, U.S

☆ UK's ultra-rich feel the pinch from Labour's tax-raising budget
▼ + stars: | 2024-11-05 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +5 min

New arrivals to the U.K. will receive 100% U.K. tax relief for their first four years, so long as they have been non-resident for the last 10 years. That's in addition to the £21.1 billion the independent Office for Budget Responsibility (OBR) forecast to be raised by earlier changes to the non-dom regime announced by the Conservatives in March. "Although the draft legislation has now been released, the Government still has time to create a new non-dom system that works for internationally-mobile individuals," Porter said in a statement. If they'd gone for the tiered (system), there would have been howls that you've given into the fat cats. "If they'd gone for the tiered (system), there would have been howls that you've given into the fat cats," he said.

Persons: Mike Kemp, Rachel Reeves, Reeves, Times Rich, David Lesperance, Lesperance, Steven Porter, Porter, they'd, Leslie Macleod Miller Organizations: Ford, Labour, Finance, —, Times, Associates, CNBC, Conservatives, Treasury, Government, Foreign Investors, Britain, Lesperance Locations: Kuwait, Burlington, Bond, London, United Kingdom, City, That's, Italy, Switzerland, Dubai

☆ Gender gap could be a significant factor in U.S. election: Chatham House
▼ + stars: | 2024-11-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGender gap could be a significant factor in U.S. election: Chatham HouseLeslie Vinjamuri, the director of the U.S. and Americas programme at Chatham House, discusses her expectations for the U.S. election.

Persons: Chatham House Leslie Vinjamuri Organizations: Chatham House, U.S

☆ 'the Menendez Brothers' Netflix Doc Director: Lyle and Eric Should Be Freed
▼ + stars: | 2024-11-05 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +7 min

But amid a sea of Menendez content, Alejandro Hartmann's new Netflix documentary has one thing most Menendez docs don't: both brothers telling their story in their own words. 'The Menendez Brothers' director says being a foreigner helped him offer a fresh perspective on a decades-old caseErik Menendez and his brother Lyle Menendez at a pre-trial hearing in 1992. Related storiesHe also used his outsider status to woo Lyle Menendez, whom he knew would be the more difficult brother to secure for an interview. He now believes the Menendez brothers should be freedErik Menendez with his attorney Leslie Abramson and his brother Lyle Menendez during their trial. "The Menendez Brothers" is now streaming on Netflix.

Persons: Jose, Kitty Menendez, Lyle, Erik, they've, Ryan Murphy's, Alejandro Hartmann's, Menendez, Richard J, It's, Barbara Walters, Pamela Bozanich, Hartmann, Menendez Brothers, Erik Menendez, Lyle Menendez, Vince Bucci, wasn't, Harmann, He's, Nicholas Chavez, Chloë Sevigny, Javier Bardem, Cooper Koch, Edie Falco, Leslie Abramson, Ryan Murphy, it's, he'd, Ted Soqui, George Gascón, I'm Organizations: Netflix, Donovan Correctional Facility, Business, NBC, Nielsen, Getty, Los Angeles District Locations: Menendez, San Diego, Argentina

☆ Singapore Airlines will add first class, revamp cabins for longest flights
▼ + stars: | 2024-11-04 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Singapore Airlines is planning to add a four-seat first class to the Airbus aircraft it uses for its longest routes, a bet to attract high-spending travelers to flights that can top 17 hours. The carrier will add the new seats to seven Airbus A350-900 URLs, or ultra-long-range aircraft that it uses for lengthy trips, including its longest, between New York and Singapore. Singapore said the new first- and business-class seats will have new in-flight entertainment but the carrier didn't disclose many details about the new cabins. Airlines have been investing billions of dollars to revamp their premium cabins to chase travelers willing to shell out for more space on board. They range from international airlines Singapore Airlines to smaller carriers like JetBlue Airways , whose long-range twin-aisle jets used for trips across the Atlantic feature suites with sliding doors.

Persons: Goh Choon Phong Organizations: Singapore Airlines, Airbus, Airlines, JetBlue Airways Locations: New York, Singapore

☆ Quincy Jones, musical titan and entertainment icon, dead at 91
▼ + stars: | 2024-11-04 | by ( Lisa Respers France | ) edition.cnn.com time to read: +7 min

“Tonight, with full but broken hearts, we must share the news of our father and brother Quincy Jones’ passing,” the Jones family said in the statement. American jazz musician, arranger, and composer Quincy Jones (left) works with singer and actor Frank Sinatra on a soundstage, 1964. His family eventually moved to Seattle, Washington, and Jones began taking lessons from famed horn player Clark Terry. Musician, composer and producer Quincy Jones poses for a portrait in 1981 in Los Angeles. In 1967 he married Swedish model Ulla Andersson, and they had two children, Martina and Quincy Jones III, before divorcing in 1974.

Persons: Quincy Jones, Ray Charles, Frank Sinatra, Michael Jackson, Jones, ”, John Dominis, Michael Jackson’s, Clark Terry, Lionel Hampton, Gladys, “, ” Jones, ‘, We’ll, ’ ” Jones, Schillinger, Count Basie, Duke Ellington, Sarah Vaughan, Dizzy Gillespie, Bobby Holland, Michael Ochs, Leslie Gore’s, Peggy Lee, Jackson, Steven Spielberg, Jim Henson, Kevin Mazur, Bel, Will Smith, Jeri Caldwell, Jolie, Ulla Andersson, Quincy Jones III, Peggy Lipton, Rashida Jones, Kidada Jones, Rachel, Carol Reynolds, Kenya Kinski, Nastassja Kinski, Rolling Stone, Louie Armstrong, Mr, Sinatra Organizations: CNN, Hampton, National Endowment, Arts, Berklee College of Music, Michael Ochs Archives, Mercury Records, Party, M Records, Qwest, Jim Henson Studios Locations: Bel Air , California, American, Chicago, Seattle , Washington, Boston, Los Angeles, Haiti, Hollywood , California, Swedish, Kenya

☆ Striking Boeing machinists vote on union-backed contract proposal, this time with a warning
▼ + stars: | 2024-11-04 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Boeing workers from the International Association of Machinists and Aerospace Workers District 751 gather on a picket line near the entrance to a Boeing production facility on the day of a vote on a new contract proposal during an ongoing strike in Renton, Washington, U.S. October 23, 2024. Boeing 's more than 32,000 striking machinists on Monday will vote for the third time on a contract proposal. The proposal includes 38% raises over four years, up from the 35% increase Boeing proposed and workers rejected late last month, extending the strike. Boeing said machinist pay will average $119,309 at the end of this contract proposal. But the union, upon unveiling the proposal last Wednesday, warned this deal might be as good as workers are going to get.

Organizations: International Association of Machinists, Aerospace Workers, Boeing, Workers Locations: Renton , Washington , U.S, Seattle

☆ Why flights to Europe are the cheapest they've been in years
▼ + stars: | 2024-11-03 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

A tourist takes a photo as the Acropolis’ Propylaea are seen in the background, in Athens, Greece, on June 28, 2024. Flights between the U.S. and Europe have not been this cheap in three years, when many countries were just lifting Covid-19 era rules. According to flight-tracking company Hopper, "good deal" fares across the Atlantic to Europe are averaging $578 in November, down from $619 a year earlier. Many airlines from financially troubled Spirit Airlines to profitable Southwest Airlines have cut flights or trimmed growth plans into next year, which has helped keep U.S. fares firm. Aircraft scarcity is also limiting airlines from adding many flights.

Persons: Brett Snyder, Hopper Organizations: U.S, Airlines, Southwest Airlines, Delta Air Lines, United Airlines, American Airlines Locations: Athens, Greece, Europe, Hopper .

☆ Boeing, union reach sweetened contract offer in bid to end strike, vote scheduled for Monday
▼ + stars: | 2024-10-31 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Boeing and its machinists' union have agreed on a new negotiated offer to raise worker pay and potentially end a crippling strike that began almost seven weeks ago with a vote on the new proposal set for Monday. The union urged workers to approve the contract. Boeing said Thursday at the end of the contract, average machinist pay will average $119,309. "We encourage all of our employees to learn more about the improved offer and vote on Monday, Nov. 4," Boeing said in a statement. The Boeing strike is expected to dent Friday's U.S. jobs report.

Persons: Kelly Ortberg Organizations: International Association of Machinists, Aerospace Workers, Boeing, Workers, Microsoft, — Locations: Renton , Washington , U.S, Seattle

☆ Boeing strike will dent last jobs report before election
▼ + stars: | 2024-10-31 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Boeing workers gather on a picket line near the entrance to a Boeing facility during an ongoing strike on October 24, 2024 in Seattle, Washington. Boeing 's more than seven-week machinist strike is set to hit Friday's U.S. jobs report — the last one that will be released before Nov. 5 presidential election and the Federal Reserve's meeting next week. Some 44,000 U.S. workers were on strike when the Labor Department conducted its survey in mid-October. About 33,000 of them are Boeing machinists, who walked off the job on Sept. 13 after overwhelmingly voting against a union-endorsed labor contract and in favor of their first strike since 2008. Boeing's machinist strike has complicated the plane maker's already difficult position as its new CEO Kelly Ortberg tries to steer the giant U.S. manufacturer and exporter out of safety, quality and financial crises.

Persons: Christopher Waller, I'm, Kelly Ortberg Organizations: Boeing, Labor Department, Bank of America, Federal Locations: Seattle , Washington, Hurricane Milton, Seattle

☆ United Airlines raises spending requirements to earn frequent flyer status
▼ + stars: | 2024-10-30 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

The thresholds to earn elite status on the airline's MileagePlus program are going up about 25% and include either spending on a co-branded card or a combination of spending and flying. The lowest level status, Silver Premier in 2025 will require customers to earn 5,000 premier qualifying points, or PQP, and fly 15 qualifying flights, up from 4,000 premier qualifying points and 12 qualifying flights. Travelers earn one PQPs for every $1 they spend on United and other qualifying flights. Earning Silver status only by spending— meaning getting to that status without the qualifying flights — will go for 6,000 points, up from 5,000. That would mean customers could spend $6,000 on United flights up from $5,000, regardless of the number of flights they take.

Organizations: United, American Airlines, Delta Air Lines, Airlines, Silver, —

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