DIRS.INFO The most relevant business & tech news

☆ Spirit Airlines beats estimates on strong travel demand
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

Feb 6 (Reuters) - Ultra low-cost carrier Spirit Airlines Inc (SAVE.N) posted better-than-expected quarterly results on Monday, fueled by strong demand for air travel despite ongoing economic concerns. Shares of Spirit rose over 7% to $21 in aftermarket trade. U.S. airlines have been trying to cash in on strong demand for air travel, undeterred by rising interest rates and a looming recession, as pandemic restrictions ease. Spirit earned $0.12 per share on an adjusted basis, above analyst estimates of $0.04 per share, according to Refinitiv data. The Miramar, Florida-based airline's total operating revenue in the quarter rose nearly 41% to $1.39 billion, compared with analysts' estimates of $1.38 billion.

☆ Column: Europe needs France to get its nuclear act together in 2023: Maguire
▼ + stars: | 2023-02-01 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

LITTLETON, Colo., Feb 1 (Reuters) - A steep drop in France's nuclear power output in 2022 exacerbated Europe's power crisis by forcing French utilities to flip from net power exporters to importers just as Russia's invasion of Ukraine snarled energy markets across the continent. POWERING UPSo far in 2023, France's nuclear power output remains 17.5% below the average from 2020 and 2021, Refinitiv data shows, due in part to strikes against planned pension reforms for unionised workers. Even if average output remains below that previous target, any sustained increase in nuclear production from 2022 totals stands to have an impact on local power prices, as well as France's overall power import needs. For example, in December, some previously curtailed reactors resumed operations and that boosted national nuclear output by 40% from the average of the previous eight months, Refinitiv data shows. France seasonal nuclear power outputReporting By Gavin Maguire; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Why PETA—and Taxidermists—Approved of Kylie Jenner’s Lion-Head Dress
▼ + stars: | 2023-01-25 | by ( Lane Florsheim | ) www.wsj.com time to read: 1 min

Fur has long been known to ruffle fashion critics’ feathers. But as couture week began Monday in Paris, it was a group of fake animal heads that got people up in arms. A lion’s face leapt off the front of Irina Shayk’s black velvet dress. The head of a wolf sat on the shoulder of Naomi Campbell’s faux-fur coat. Kylie Jenner, seated front row at the show, also wore a lion head fastened to her dress.

☆ Live Nation exec will face lawmakers about Taylor Swift concert tickets fiasco
▼ + stars: | 2023-01-24 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +7 min

“It goes without saying that I’m extremely protective of my fans,” Swift wrote on Instagram in November. The mergerCriticism of Ticketmaster’s dominance dates back decades, but the Swift ticketing incident has once again turned that issue into a dinner table discussion at many households. Concert promoter Live Nation and ticketing company Ticketmaster, two of the largest companies in the concert business, announced their merger in 2009. ‘Customers are the ones that pay the price’While irate fans were left scrambling to wade through the Swift ticket confusion, their collective anger caught lawmakers’ attention. To me, what happened with the Swift concert tickets was not necessarily the result of Ticketmaster being the dominant player in the industry,” he said.

☆ Ticketmaster under fire: 6 takeaways from hearing over Taylor Swift concert fiasco
▼ + stars: | 2023-01-24 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +9 min

The venues controlled by Live Nation set fees that are “consistent with the other venues in the marketplace,” he said. Entertainment industry pushes back at Ticketmaster’s dominanceMembers of the entertainment industry and one rival spoke out against Ticketmaster’s dominance in the industry. Andrew Harnik/APClyde Lawrence, a singer-songwriter on the witness panel, explained how the company acts as a promoter, a venue and the ticketing company, which eats into performing artists’ revenues. Artists, he said, have no leverage over Live Nation. Lawmaker says Ticketmaster merger should ‘be on the table’Lawmakers repeatedly questioned the US government’s past handling of the Live Nation merger with Ticketmaster.

☆ Retail CEO crisis: why the industry's top job is suddenly the hardest to fill
▼ + stars: | 2023-01-23 | by ( Matthew Kish | Avery Hartmans | ) www.businessinsider.com time to read: +8 min

It's the surest sign yet of a crisis facing the retail industry. Supply chains got snarled, shoppers stopped visiting stores, and stimulus payments spiked demand, each making it difficult to measure how business was doing. Then stimulus payments sent demand for everything from sneakers to home goods spiking while supply chains snarled. And just when supply chains started to sort themselves out, inflation hit, and shoppers started to scale back spending. Retail CEOs need 'peripheral vision'Workers at Starbucks stores and Amazon warehouses across the country have pushed to unionize, with many calling out the pay disparity between front-line workers and top executives.

☆ COVID-hit Chinese factories eye gradual recovery after Lunar New Year break
▼ + stars: | 2023-01-19 | by ( David Kirton | ) www.reuters.com time to read: +5 min

But people running factories expect that the sudden U-turn will at least deliver a recovery that will be faster than what would have followed a phased withdrawal of controls. Economically, the country should finally leave behind a pandemic that suppressed domestic demand and snarled global supply chains for three years. LIMPING BACK TO NORMALLi's factories had to scramble last month, when up to a third of their workers were down with COVID at the same time. Her industry peer Li says his factories might even need to cut jobs later this year if external demand weakens. "If the U.S. economy enters a recession, then it's going to be very damaging to us," he said.

☆ School lunch, eggs and airfare: Why inflation soared for 10 items in 2022
▼ + stars: | 2023-01-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Here's a look at the 10 items with the largest price gains, as measured by the annual inflation rate in December. Food at school: 305.2%The price of a meal at elementary and secondary schools spiked the most in 2022, by a whopping 305%. Overall food prices have been pressured on many fronts, too, funneling into school meals. Oil prices retreated in the second half of the year, though, as fears mounted of a possible recession and an accompanying weakness in oil demand. Monthly milk production among major suppliers fell each month from September 2021 to June 2022, according to the U.S. Department of Agriculture.

[1/4] Soy plants are pictured on a farm in Enconada, on the outskirts of Santa Cruz de la Sierra, Bolivia, January 7, 2023. The tensions underscore a sharpening of a deep-seated rivalry between Santa Cruz and La Paz - Bolivia's farming hub and the political capital respectively - that have long butted heads over politics and resources. La Paz is an Andean stronghold with a large indigenous population that has traditionally titled towards the ruling socialist MAS party. "They can't resist on their own", said Montenegro, adding the rising economic pressures would force Santa Cruz producers to re-start supply within the country. Every Santa Cruz person has to fight, all Bolivians must fight for the well-being of Bolivia, for freedom."

☆ Here’s the inflation breakdown for December 2022 — in one chart
▼ + stars: | 2023-01-12 | by ( Greg Iacurci | ) www.cnbc.com time to read: +8 min

A decline in the annual inflation rate doesn't mean consumers saw deflation, which is when overall prices decrease. Categories with the largest changes in Decemberwatch nowWhile on the decline, the annual inflation rate remains at its highest since the early 1980s. Car and truck rental prices fell by 4.9%, while beef and veal prices fell by 3.1%, women's dresses by 2.3% and admission to sporting events by 1.5%. A decline in the inflation rate for electronics may seem counterintuitive when iPhones and other gadgets didn't necessarily come with steep discounts in 2022. Hourly wages have fallen by 1.7% in the past year, after accounting for inflation, according to the U.S. Department of Labor.

☆ U.S. Congress to investigate FAA computer outage that snarled flights
▼ + stars: | 2023-01-11 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The public needs a resilient air transportation system." House Transportation Committee Chair Sam Graves, a Republican, said the ground stop "highlights a huge vulnerability in our air transportation system." The administration needs to explain to Congress what happened, and Congress should enact reforms in this year’s FAA reauthorization legislation." Senate Majority Leader Chuck Schumer said "the FAA needs to get to root causes so this doesn’t happen again." The FAA authorization is due to expire on Sept. 30 and the outage may put pressure on Congress to complete action.

☆ Why sneaker prices are at a 40-year high, with one economist comparing them to an 'erratic' EKG
▼ + stars: | 2023-01-06 | by ( Matthew Kish | ) www.businessinsider.com time to read: +4 min

Footwear prices increased more in 2022 than in any of the previous 40 years. A sneaker economist expects footwear inflation to moderate this year. That goes for sneaker prices, too. Through November, footwear prices were up 4.96% in 12 months, while inflation was running at 7.1%. "It was unlike anything the industry had ever seen before," he told Insider, describing footwear prices the last few years as "suddenly erratic, like an EKG."

☆ The $360 billion electric car battery market will determine the fate of electric vehicles
▼ + stars: | 2023-01-03 | by ( Alexa St. John | ) www.businessinsider.com time to read: +14 min

There's also money to be made: The EV battery market could hit $360 billion by 2030, according to McKinsey. At Insider, we've looked at white-hot EV battery technologies that give automakers the EV performance they need at the price their customers want. We've investigated how automakers are securing enough battery supply, especially amid the call for domestic sourcing brought on by requirements in President Joe Biden's climate bill. It just led a $400 million investment into the little-known EV battery startup that could make it work. The soon-to-be $339 billion battery industry is on a hiring tear to power the shift to electric cars.

☆ U.S. FAA slows air traffic over Florida due to computer problem
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: 1 min

Jan 2 (Reuters) - The Federal Aviation Administration (FAA) on Monday said it had slowed flight volume over Florida as it worked to resolve a problem with an air traffic computer system. The problem hampered a system known as the En Route Automation Modernization (ERAM) used to control air traffic, according to a spokesperson at the U.S. regulator who did not provide further details. The issue emerged after a massive winter storm snarled air travel during the Christmas holiday season, crippling operations at low-cost carrier Southwest Airlines (LUV.N). reporting by Nathan Layne; Editing by Howard Goller and David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ The first quarter could determine how good or bad the new year will be
▼ + stars: | 2023-01-01 | by ( Patti Domm | In | ) www.cnbc.com time to read: +9 min

The first quarter of the third year of a presidential term is consistently the best quarter for S & P 500 performance, according to CFRA data. "If everyone says the first half is going to be bad and the second half is going to be good, it could be the opposite. "The timing of the economic rebound probably starts in the second quarter so the market can look forward to it," he said. "Right now it's estimated to be down 3% year-on-year … We are looking at an earnings recession which is typically coincident with an economic recession." The second quarter is expected to be down 2.3%.

The S&P 500 was 0.7% lower Friday, leaving it down 19.9% for the year. Corporate bonds had a miserable 2022, too: The return on bonds issued by S&P 500 companies was -14.2% this year. The Bloomberg Aggregate US Bond Index had its worst year since the index’s inception in 1977, according to FactSet. Excluding energy, S&P 500 earnings would fall 1.8% this year, Butters predicted. Occidental Petroleum has been the biggest gainer of the year in the S&P 500, up 122% year-to-date.

☆ Flight canceled? Here are some expert tips.
▼ + stars: | 2022-12-27 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

Staying calm — and knowing your rights — can go a long way if your flight is canceled, experts say. Here’s some of their advice for dealing with a flight cancellation:My flight was canceled. Can I ask to be rebooked on another airline's flight? Airlines aren’t required to put you on another airline’s flight, but they can, and sometimes do, according to the DOT. Agents are typically under a lot of pressure when a flight is canceled, so giving them some options helps.

☆ Oil rises in thin trade on concerns over U.S. storm impact
▼ + stars: | 2022-12-27 | by ( Yuka Obayashi | ) www.reuters.com time to read: +1 min

TOKYO, Dec 27 (Reuters) - Oil prices rose in light trade on Tuesday on concerns that winter storms across the United States are affecting logistics and production of petroleum products and shale oil. Airlines had cancelled nearly 2,700 U.S. flights as of Saturday afternoon after the weather snarled airport operations around the country. Frigid cold and blowing winds on Friday knocked out power and cut energy production across the United States, driving up heating and electricity prices. Concerns over a possible production cut by Russia were also behind today's rally. Russia may cut oil output by 5% to 7% in early 2023 as it responds to price caps, the RIA news agency cited Deputy Prime Minister Alexander Novak as saying on Friday.

☆ 'Travel insanity': U.S. passengers stranded by winter storm
▼ + stars: | 2022-12-26 | by ( Kanishka Singh | ) www.reuters.com time to read: +3 min

The travel disruptions continued into Monday when airlines canceled over 2,500 flights as of early afternoon, according to flight tracking website FlightAware. The hardest hit was Southwest Airlines (LUV.N) with about 1,700 cancellations while Delta Air Lines Inc (DAL.N) had over 250 cancellations. David Sharp said on Twitter his Southwest Airlines flight from Denver to St. Louis was canceled and the next flight was not available for another two days. Voice actress Grey DeLisle tweeted to Southwest Airlines: "Flight 1824 from Nashville to Burbank was canceled due to Elliot and we haven't received any rebooking! Nothing anyone could do but so much travel insanity," tweeted another Twitter user named Alex Gervasi.

☆ Death toll rises to at least 55 as freezing temperatures and heavy snow wallop swaths of U.S.
▼ + stars: | 2022-12-26 | by ( Mithil Aggarwal | Melissa Chan | ) www.cnbc.com time to read: +2 min

(Photo by John Normile/Getty Images)A "once-in-a-lifetime" blizzard has killed at least 55 people in the United States, including 25 in western New York's Erie County, officials said Monday morning. Snow was expected to fall in Erie County into Tuesday afternoon. Nationwide, temperatures plummeted, and huge snow drifts have trapped people inside their homes and snarled travel. The medical examiner's office in Erie County determined the 25 deaths there to be directly related to the blizzard, Poloncarz said. The county executive said a "good portion" of those deaths occurred in Buffalo, and that many died from heart problems while shoveling or snow blowing.

[1/6] Hoak's restaurant is covered in ice from the spray of Lake Erie waves during a winter storm that hit the Buffalo region in Hamburg, New York, U.S. December 24, 2022. Twenty-eight people have died so far in weather-related incidents across the country, according to an NBC News tally. The Buffalo airport had recorded 43 inches (109 cm) of snow as of 7 a.m ET (1200 GMT) on Sunday, Otto said. "Another one to two feet in general before Monday morning in the Buffalo area is expected," Otto said. "I guess you can say in some ways, the worst of it is over but there's still some pretty significant snowfall that's ongoing around the Buffalo region today."

☆ Tesla Shares Head for Worst Year Ever as Elon Musk Focuses on Twitter
▼ + stars: | 2022-12-24 | by ( Rebecca Elliott | Nate Rattner | ) www.wsj.com time to read: 1 min

Tesla Inc. is on pace for its worst annual stock performance on record as investors bristle at Elon Musk‘s Twitter Inc. ownership, as well as declining demand for the car company’s electric vehicles and slumps in the broader market in a higher interest rate environment. Tesla’s share slide marks a sharp reversal for the world’s most valuable car company. The electric-vehicle maker had been one of the auto industry’s biggest winners during the early 2020s, a period plagued by chip shortages, snarled global supply chains and shutdowns related to Covid-19.

☆ Airlines cancel 10,000 flights during severe winter storms and scramble to rebook holiday travelers
▼ + stars: | 2022-12-24 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

U.S. flight cancellations eased on Saturday but federal officials warned that disruptions could continue as severe winter storms snarled air travel across the country ahead of Christmas. U.S.-based airlines have canceled more than 10,000 flights since Wednesday, according to flight tracker FlightAware. Airlines and travelers were hard-pressed to find alternative flights before the holiday because planes were booked so full and schedules dropped sharply during the weekend. That could force airlines to provide cash refunds to travelers who decide to scrap their trips altogether because of the delays. FedEx and UPS warned holiday packages could arrive late due to the storms.

☆ Airlines cancel 2,000 U.S. flights on Saturday over winter storm
▼ + stars: | 2022-12-24 | by ( Kanishka Singh | ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 24 (Reuters) - Airlines canceled nearly 2,000 U.S. flights as of Saturday morning following a massive winter storm that snarled airport operations around the United States and frustrated thousands of holiday travelers. The flight cancellations on Saturday morning included over 450 from Southwest Airlines (LUV.N) and nearly 400 from Delta Air Lines Inc (DAL.N). The flight disruptions came as an arctic blast gripped much of the United States on Saturday, causing power outages and car wrecks. An NBC News affiliate reported that inclement weather canceled over 130 flights as of Saturday morning at the Seattle-Tacoma International Airport. Passenger railroad Amtrak also canceled dozens of trains through Christmas, disrupting holiday travel for thousands.

☆ Airlines cancel 3,900 U.S. flights Friday as winter storm snarls travel
▼ + stars: | 2022-12-23 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

WASHINGTON, Dec 23 (Reuters) - Airlines canceled over 3,900 U.S. flights on Friday as a massive winter storm snarled airport operations around the United States and frustrated thousands of holiday travelers. The cancellations follow nearly 2,700 canceled flights on Thursday, according to flight tracking website FlightAware. The Federal Aviation Administration (FAA) imposed ground stops or delays for de-icing at a number of U.S. airports because of winter weather. Another 3,800 U.S. flights were delayed on Friday - including more than 14% of those operated by American Airlines (AAL.O), United Airlines (UAL.O), Delta Air Lines (DAL.N) and Southwest Airlines (LUV.N). Southwest canceled 800 flights Friday, about one-fifth of all its scheduled flights, while Alaska Airlines (ALK.N) canceled 321, or 41%, of its flights.

Search resuls for: "snarled"

25 mentions found