September, 2019

• 17 September

  For airlines, making money is a big mistake

  

  In the airline business, there’s nothing more damaging to a company’s internal harmony than making a profit. The pilot strikes that have grounded almost all British Airways flights for the next two days are a case in point. Unlike most industrial sectors, the usual state of affairs for airlines is spending vast sums of money for little return. In one ...

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• 17 September

  Will the real poverty rate please stand up?

  

  It has always been hard to measure poverty, because poverty is as much a state of mind as a condition of material well-being. Still, we seem to have made a bad situation worse. Consider the Census Bureau’s latest estimates. In 2018, the official poverty rate was 11.8%, down from 12.3% in 2017 and the lowest rate since 2001. This translates ...

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• 17 September

  US stocks slip, Treasuries advance as oil trims gains

  

  Bloomberg US index futures edged lower with European stocks while Treasuries continued higher as investors weighed the fallout from a drone attack on one of the world’s biggest oil facilities and the record surge in crude prices that followed. Contracts on the three main US stock indexes dipped after fluctuating earlier. The Europe Stoxx 600 index ticked lower, led by ...

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• 17 September

  China stocks dip, yuan weakens as PBOC holds loan rate

  

  Bloomberg China’s restrained approach to easing spooked financial markets on Tuesday, with stocks and the yuan dropping the most in weeks. The Shanghai Composite Index retreated 1.7 percent, its biggest decline in more than two months, to close below the psychologically important 3,000 level. The onshore yuan fell 0.37 percent, the most in three weeks, to 7.0950 a dollar as ...

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• 17 September

  HK dollar ranks below yuan

  Bloomberg The Hong Kong dollar became the ninth most traded currency in the world earlier this year, ranking just below the yuan, according to the Bank for International Settlements (BIS). The city’s currency accounted for 3.5 percent of global average daily turnover in April, compared with 1.7 percent during the same month in 2016, the latest triennial survey by BIS ...

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• 17 September

  China needs to spend $2.9tn on new jets, services: Boeing

  

  Bloomberg China will need to spend $2.9 trillion on new aircraft and ground services over the next two decades, according to Boeing Co, which continues to pin hopes on the world’s second-largest economy as its trade dispute with the US rolls on. The estimate, released in Boeing’s annual outlook on China’s commercial aviation market, is 7 percent higher than last ...

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• 17 September

  UK’s Thomas Cook files for bankruptcy protection in US

  

  Bloomberg Thomas Cook Group Plc has filed for Chapter 15 court protection in the US as part of a broader debt restructuring for the UK travel agent. The company’s Chapter 15 petition was filed in the Southern District of New York, court papers show. Law firm Latham & Watkins is representing the company, according to the documents. Chapter 15 of ...

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• 17 September

  FAA chief to assess 737 Max status in trip to Seattle plant

  

  Bloomberg Federal Aviation Administration (FAA) chief Steve Dickson plans to visit Boeing Co facilities in Seattle this week to personally assess the status of the 737 Max, which was grounded after two fatal crashes. Dickson, a former executive and pilot at Delta Air Lines Inc. who is qualified to fly the 737, said he intends to perform test runs on ...

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• 17 September

  Airports Company SA profit falls on weak economy, costs

  Bloomberg Airports Company South Africa’s full-year profit fell 59 percent to $15.4 million as a weak economy and cost pressures constrained revenue growth. The company, which manages South Africa’s major airports, reported a 4.6 percent decline in earnings before interest, tax, depreciation and amortisation to 2.8 billion rand, despite a 5.6 percent increase in revenue to 7.1 billion rand, Acting ...

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• 17 September

  United, Expedia end e-ticket sales feud

  Bloomberg United Airlines Holdings Inc and Expedia Group Inc reached a deal to continue online ticket sales, ending a standoff in which the airline had threatened to withdraw from one of the internet’s largest travel sellers. The agreement covers a multiyear period, the companies said in a statement without specifying how long it would last or disclosing other terms. United, ...

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