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☆ Delta Air Lines reports record bookings for summer travel
▼ + stars: | 2023-04-13 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Delta Air Lines reported record advanced bookings for this coming summer, a further sign that the US airline industry is putting the pandemic-caused losses behind it. The second quarter revenue and earnings were slightly below Wall Street forecasts, which the company attributed to flights canceled due to bad weather. But shares of Delta (DAL) were higher in pre-market trading due to its strong forecast going forward. The company said the record second-quarter bookings will allow it to post earnings per share of between $2 and $2.25, well above the current forecast of $1.66. It provides them with an immediate 18% raise and a signing bonus that cost the airline $735 million.

☆ Delta Air Lines posts quarterly loss but forecasts profit as peak travel season approaches
▼ + stars: | 2023-04-13 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Analysts polled by Refinitiv had anticipated second-quarter revenue growth of 14.7% and earnings per share of $1.66. But for the first quarter, adjusted revenue and adjusted earnings came in below analyst estimates. Adjusted revenue: $11.84 billion vs. $11.99 billion expected. In the first quarter, Delta posted a net loss of $363 million, or 57 cents per share, citing, in part, a new, four-year pilot contract that includes 34% raises. That's still improvement from the year-ago period, when travel demand was still recovering and the company reported a net loss of $940 million, or $1.48 per share.

☆ Fed expects banking crisis to cause a recession this year, minutes show
▼ + stars: | 2023-04-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

watch nowWASHINGTON – Fallout from the U.S. banking crisis is likely to tilt the economy into recession later this year, according to Federal Reserve documents released Wednesday. Projections following the meeting indicated that Fed officials expect gross domestic product growth of just 0.4% for all of 2023. With the Atlanta Fed tracking a first-quarter gain around 2.2%, that would indicate a pullback later in the year. Following the collapse of SVB and the other institutions, Fed officials opened a new borrowing facility for banks and eased conditions for emergency loans at the discount window. "Even with the actions, participants recognized that there was significant uncertainty as to how those conditions would evolve," the minutes said.

☆ Delta bets on premium travel as 'shock absorber' for economic downturn
▼ + stars: | 2023-04-12 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +6 min

[1/5] Delta Airlines passenger jets are pictured outside the newly completed 1.3 million-square foot $4 billion Delta Airlines Terminal C at LaGuardia Airport in the Queens borough of New York City, New York, U.S., June 1, 2022. REUTERS/Mike SegarCHICAGO, April 12 (Reuters) - Delta Air Lines (DAL.N) is doubling down on more profitable premium travel as it looks to shore up its defenses against an economic downturn. Chief Executive Ed Bastian told Reuters the U.S. carrier will have premium seats on every plane it flies starting this summer. Rivals United Airlines (UAL.O) and American Airlines (AAL.O) are also chasing premium revenue. CHANGING TRAVEL PATTERNSThe quest for premium revenue has its underpinnings in the post-pandemic travel patterns.

☆ Elasticity of travel demand in focus as U.S. carriers report earnings
▼ + stars: | 2023-04-11 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +2 min

CHICAGO, April 11 (Reuters) - Major U.S. airlines are expected to reiterate the strength of travel demand when earnings season gets underway later this week. Pent-up travel demand as well as constrained airline capacity due to shortages of aircraft, spare parts, and labor have, thus far, allowed the industry to avoid the fallout from a slowdown in the broader economy. Chief executives of major carriers last month rushed to reassure jittery investors after a profit warning from United Airlines (UAL.O) stoked worries about the industry's pricing power. The industry has been leaning on soaring consumer demand to mitigate higher labor and fuel costs with higher fares. "The price elasticity of demand over economic cycles will be the ultimate arbiter of the industry's ability to cover increasing costs," Moody's said.

The 2023 NBA Play-In Tournament runs from April 11-14 to decide the final seeds in this year's playoffs. How to watch the NBA Play-In Tournament in the USYou can watch the NBA Play-In Tournament on TNT and ESPN, with games spread across both channels. If you're outside the US right now, you might be in a region that doesn't have access to the NBA Play-In Tournament. How to watch the NBA Play-In Tournament with a VPNSign up for a VPN if you don't have one. 2023 NBA Play-In Tournament scheduleGame Date and time Channel Atlanta Hawks at Miami Heat April 11, 7:30 p.m.

☆ U.S. trade deficit widens in February as goods exports fall
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, April 5 (Reuters) - The U.S. trade deficit widened more than expected in February as exports of goods declined, suggesting that trade could drag on economic growth in the first quarter. The trade deficit increased 2.7% to $70.5 billion, the Commerce Department said on Wednesday. Consumer goods imports fell $3.7 billion, mostly reflecting decreases in cell phones and other household goods, pharmaceutical preparations as well as cotton apparel and household goods. Adjusting for inflation, the goods trade deficit widened 2.7% to $104.6 billion. A smaller trade deficit was one of the contributors to the economy's 2.6% annualized growth rate in the fourth quarter.

☆ How your phone learned to see in the dark
▼ + stars: | 2023-04-05 | by ( Samantha Kelly | ) edition.cnn.com time to read: +7 min

While shots like these used to require advanced cameras, they’re now often possible from the phone you already carry around in your pocket. People watch fireworks during a Fourth of July celebration, in this photo taken using the Google Pixel 5 Night Sight setting. “The quality of the lens is still a big deal, and how the phone addresses the lack of depth,” Ray said. The next big thingWhile night photography on phones has come a long way, a buzzy new technology could push it ahead even more. If this technology is added to smartphone photo systems, it could eventually make night modes even more powerful, Su said.

☆ NBA roundup: Knicks get by Wizards, clinch playoff berth
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +10 min

[1/4] Apr 2, 2023; New York, New York, USA; New York Knicks guard Quentin Grimes (6) dribbles against Washington Wizards forward Corey Kispert (24) during the second half at Madison Square Garden. New York led by no fewer than eight and by as many as 20 the rest of the way. Atlanta got 25 points from Dejounte Murray, 18 points and 10 rebounds from John Collins and 14 points and 11 boards from Clint Capela. Dallas also got 22 points, seven rebounds and seven assists from Doncic and 18 points from Wood. The Rockets' starting backcourt of Kevin Porter Jr. and Jalen Green combined for 44 points with Green adding seven assists.

☆ A dozen fake Easter eggs in dying kits from Walmart and Target are cheaper on average than a dozen real ones
▼ + stars: | 2023-04-01 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Egg prices are off of their January peak, but a dozen still costs more than $4, inflation numbers show. With Easter approaching, fake-egg dye kits from Walmart and Target may be cheaper than the real thing. The high cost of eggs led one of the largest dollar-store chains to decide not to carry them for now. (Actual egg prices vary substantially by geography. Easter decorators aren't the only ones adjusting their plans due to the still-high cost of eggs this spring.

☆ Markets and the economy survived a tough first quarter, but it's not going to get any easier
▼ + stars: | 2023-04-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +8 min

Despite peaks and valleys, stocks closed the first quarter on an up note, with the S & P 500 rallying more than 7% and the tech-fueled Nasdaq soaring about 16%. .SPX .DJI YTD line S & P 500 gains so far in 2023 Indeed, the market has lived through a lifetime of scary headlines in the first three months of 2023. Despite repeated protestations from Fed officials that they are taking the higher-for-longer approach on interest rates, markets still expect cuts. AAPL .SPX YTD mountain Apple compared to the S & P 500 Only five of the 11 S & P 500 sectors are positive for the year, despite the substantial rally for the index. The net profit margin for the S & P 500 also is expected to edge lower to 11.2%.

In the world of railroading, keeping the trains moving is paramount, and Norfolk Southern Corp. has little tolerance for late departures. Supervisors can be penalized for trains that are ready to leave but instead sit in rail yards, according to current and former employees of the Atlanta-based railroad. Train inspection time frames are tight. Employees who seek more-stringent reviews of rail equipment or slow down transport can face discipline.

☆ You can run for president from prison. Here's what happened when 2 candidates campaigned from behind bars.
▼ + stars: | 2023-03-31 | by ( Chris Panella | ) www.businessinsider.com time to read: +5 min

Two previous candidates, Eugene V. Debs in 1920, and Lyndon LaRouche in 1992, both ran from prison. If Trump is convicted, it's possible he could run for president from behind bars. Socialist Eugene V. Debs ran from behind bars over 100 years agoThe socialist party 1904 Eugene V. Debs and Ben Hanford. HUM Images/Universal Images Group via Getty ImagesIn 1920, Socialist Eugene V. Debs ran for the Oval Office from the Atlanta Federal Penitentiary, where he was known as "prisoner 9653," according to Smithsonian Magazine. Alex Brandon/File/APWhile Debs and LaRouche were both unsuccessful in their campaigns, they both were still able to run for president while behind bars.

☆ Jobless claims edge up to 198,000, higher than expected
▼ + stars: | 2023-03-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Initial filings for unemployment insurance ticked higher last week but remained generally low in a tight labor market. Jobless claims for the week ended March 25 totaled 198,000, up 7,000 from the previous period and a bit higher than the 195,000 estimate, the Labor Department reported Thursday. Though the number was slightly higher than expectations, the total indicates that companies are slow to lay off workers despite expectations that the unemployment rate will rise through the year. According to estimates last week, central bankers expect the unemployment rate to rise to 4.5% this year, from its current 3.6% level. Markets reacted little to the fresh batch of data, with futures pointing to a higher open on Wall Street.

☆ Judge fires as Yankees make fast start
▼ + stars: | 2023-03-30 | by ( Amy Tennery | ) www.reuters.com time to read: +3 min

[1/2] Mar 30, 2023; Bronx, New York, USA; New York Yankees center fielder Aaron Judge (99) hits a solo home run against the San Francisco Giants during the first inning at Yankee Stadium. Mandatory Credit: Brad Penner-USA TODAY SportsNEW YORK, March 30 (Reuters) - American League MVP Aaron Judge kicked off the New York Yankees season in style on Thursday, launching a solo homer in his first at-bat of the year in a 5-0 win over the San Francisco Giants. Judge quickly reminded the sellout crowd at Yankee Stadium why hope springs eternal for the 27-times world champions, however, launching one over the center field wall after assuming the captain's job in the off-season. While Judge is coming off a blockbuster 2022 in which he broke the AL single-season home run record, however, he cannot do it alone. Judge and DJ LeMahieu added to the advantage with an RBI each in the seventh.

☆ MLB Opening Day 2023: Understanding the 3 major rule changes baseball is making this year
▼ + stars: | 2023-03-30 | by ( Nicolas Vega | ) www.cnbc.com time to read: +3 min

Baseball is a game that thrives off of routine and rhythms, but this year the league is shaking things up. As teams take the field on March 30 for Opening Day of the 2023 baseball season, keep an eye out for these three major changes. Brace Hemmelgarn | Getty Images Sport | Getty ImagesPerhaps the most noticeable change for fans will be the implementation of a formal pitch clock. Batters, meanwhile, will need to be in the batters' box before the pitch clock ticks down to the eight second mark or they will be given a strike. The pitch clock has on average reduced the length of games by an average of 26 minutes, the MLB said when announcing the new rule.

Biden's 2024 race will be different, aides and Democratic party officials say. The race to host the party convention is now down to two cities, sources say: Chicago and Atlanta. Chicago's pull is rooted in tradition, deep-pocketed donors and union ties, while Atlanta's appeal reflects the power of Georgia's grassroots networks and the importance to the party of Black voters and a racially diverse electorate. Top Democratic political officials in eight Midwestern states wrote Biden last week to push for a Chicago convention. CHICAGO, UNION TOWNHolding the convention in Chicago would put Biden in a Democratic powerhouse, where the party controls the legislature and executive branches.

☆ Explaining the relative calm of the stock market as the Fed hikes rates into a mini-financial panic
▼ + stars: | 2023-03-25 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

.SPX 1Y mountain S & P 500, 1-year So, are equities under-reacting to a badly contorted bond market, a potentially trapped Fed and faltering economy? This has allowed the S & P 500 excluding financials and real estate to outperform the headline index by a couple percentage points year to date. Microsoft alone has added some $240 billion in market value since that date, more than the entire market cap of the S & P 500 regional-banks sub sector. Only about 60% of the S & P 500 members are positive over the past six months even as the index is up 7.5%, a loss of internal energy. The flash S & P Global U.S. Composite PMI for March, reported Friday, was up to 53.3 from 50.1 the prior month and above the 49.5 forecast, a reading S & P says is consistent with around a 2% real GDP pace.

☆ Apple will require a subscription to watch 'Friday Night Baseball' this year
▼ + stars: | 2023-03-22 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

Broadcasts of Major League Baseball games on Apple TV+ this season will require a subscription to the service, Apple announced on Wednesday. In 2022, Apple started broadcasting one or two MLB games every Friday night with a rotating cast of teams. Now, users will need an Apple TV+ subscription, which costs $7 per month in the U.S. While some games will air for free, a subscription with access to all games costs $14.99 per month, with a discount if the person also subscribes to Apple TV+. Apple said the first "Friday Night Baseball" doubleheader broadcast will take place on April 7, featuring the Texas Rangers at the Chicago Cubs followed by the San Diego Padres at the Atlanta Braves.

WASHINGTON, March 20 - The U.S. Supreme Court on Monday declined to hear a traveling Christian evangelist's free-speech challenge to a University of Alabama requirement that he obtain a permit before handing out religious pamphlets and preaching from a sidewalk adjacent to its campus. Keister, founder of a Pennsylvania-based group called Evangelism Mission, regularly visits U.S. university campuses in hopes of spreading his Christian message to students, according to court filings. School officials told Keister he needed a permit for a public-speaking event, prompting him and his companion to leave. Following losses in lower courts, Keister's appeal in 2018 was turned away by the U.S. Supreme Court, prompting him to file an amended civil rights suit against school officials the next year. The Supreme Court, which has a 6-3 conservative majority, in recent years has taken an expansive view of religious rights, though this case came to the justices as a free speech dispute.

☆ Snakes, rats and reptilian squatters: single family rental investors get a rude awakening as landlords
▼ + stars: | 2023-03-20 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +6 min

Single-family-rental landlords are like most other homeowners, just at scale. Indeed, rising interest rates have drastically reduced access to capital for everyone, including single-family landlords who've borrowed heavily to finance their purchases. Here are a few stories of the wild world of institutional single-family-rental property management. An iguana stuck inside a Divvy Homes property in Florida. Single-family-rental landlords face the twin challenges of customer service and homeownership, often at the same time.

His court filing also sought to disqualify the Fulton County District Attorney's Office, which has been conducting the criminal probe, from being involved in the case. The Atlanta grand jury earlier this year finished hearing testimony and reviewing evidence submitted by prosecutors. The panel then recommended the filing of criminal charges against a number of people, who have not been publicly identified. The grand jury focused particularly on a Jan. 2, 2021, phone call, during which Trump asked Georgia Secretary of State Brad Raffensperger to "find 11,780 votes" for Trump. Trump's 483-page court filing argues that the grand jury "was conducted under an unconstitutional statute, through an illegal and unconstitutional process."

☆ These elite dividend stocks have raised their payments for over 60 consecutive years
▼ + stars: | 2023-03-19 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Through recessions and economic booms, over decades of market volatility, only eight companies in the S & P 500 have hiked their annual dividends year-in and year-out for at least 60 years. It pays an annual dividend of $1.84 per share, and currently has a dividend yield of 3.07%, while the S & P 500's average dividend yield is 1.65%. Manufacturing company Stanley Black & Decker and food and beverage giant PepsiCo have raised their annual dividends for more than 50 years. ExxonMobil and Chevron have hiked their annual dividends for 40 and 36 years, respectively. Based on the current dividend rate, with no additional increases or decreases, Silverblatt expects cash payments for 2023 to increase 3.9% over 2022.

☆ Norfolk Southern shareholders sue over Ohio derailment
▼ + stars: | 2023-03-17 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

March 17 (Reuters) - Norfolk Southern Corp (NSC.N) shareholders have accused the railroad of defrauding them by prioritizing profit over safety prior to last month's derailment of a train carrying hazardous chemicals in East Palestine, Ohio. A Norfolk Southern spokesman declined to comment, saying the Atlanta-based company does not discuss pending litigation. Norfolk Southern has faced many lawsuits over the Feb. 3 derailment, including cases brought by local residents and Ohio's attorney general. Six of the seven largest U.S. freight railroads use Precision Scheduled Railroading: Norfolk Southern, Canadian National, Canadian Pacific, CSX, Kansas City Southern and Union Pacific. The case is Bucks County Employees Retirement System v Norfolk Southern Corp et al, U.S. District Court, Southern District of Ohio, No.

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