Bloomberg Checkout lines at most American retailers were noticeably shorter in July as sales stalled following one of the strongest quarters in years, indicating consumer spending will cool in the third quarter. The Commerce Department said purchases totaled $457.7 billion last month, little changed from the $457.9 billion in June. That reflected declining receipts at eight of 13 major …
Read More »United Airlines nears labour peace six years after merger
Bloomberg United Continental Holdings Inc. won approval for a new contract with flight attendants and reached an “agreement in principle†with mechanics, setting the stage for labor peace for the first time since the 2010 merger that created the airline. The Association of Flight Attendants voted 53 percent in favour of a five-year pact that raises top pay rates …
Read More »Neeleman sees clearer skies for troubled airline markets
Bloomberg Airline tycoon David Neeleman is seeing signs of a turnaround in his two main markets after months of struggle, with a massive recession in Brazil and a management shakeup in his European foothold. Neeleman, the founder and chief executive officer of Brazilian carrier Azul Linhas Aereas Brasileiras SA, said a measure of pricing power known as revenue per …
Read More »Delta’s pilot talks delayed three weeks
Bloomberg Contract talks between Delta Air Lines Inc. and its pilots have been suspended for three weeks by a federal mediator because of a lack of progress. The two sides were notified of the break August 3 by the National Mediation Board, according to a letter posted on the union’s website from John Malone, chairman of the Air Line …
Read More »â€˜Heights’ of luxury at Los Angeles apartments
Bloomberg With its 40 stories and monthly rents of as much as $25,000, a new Los Angeles apartment tower is reaching Manhattan’s heights. And its amenities may make New Yorkers jealous: a chauffeur-driven Rolls-Royce, in-house Botox and your latte brewed to order before you even ask for it. In a city known for sprawling mansions, the 283-unit Ten Thousand, …
Read More »Fewer housing markets in the US have double-digit price gains
Bloomberg Fewer US housing markets are seeing double-digit gains in prices as affordability becomes more of a challenge in some areas. In the second quarter, prices rose 10 percent or more from a year earlier in 25 metropolitan areas, down from 28 markets in the first quarter and 34 in the second quarter of 2015, the National Association of …
Read More »Even London’s green spaces aren’t safe from air pollution
Bloomberg London is famous for its numerous parks and gardens, but even those green spaces aren’t safe from pollution. The air in many city parks surpass legal limits for nitrogen oxide set by the European Union, according to data website Asiopendata.com. The pollutant is largely from vehicle exhaust. The finding’s support Mayor Sadiq Khan’s effort to keep the issue at …
Read More »Homeowners have real estate agents over a barrel
Bloomberg You just sold your home for $400,000. Good going, nice job, congratulations. Kudos are also due to the real estate agents who helped you close the deal. If you live in a part of the country where the standard commission is 6 percent, you probably just paid them $24,000. Or maybe not. Real estate commissions are set by …
Read More »Netflix fueling yet another record year of TV shows
Bloomberg The TV industry will make a record number of shows in 2017, as streaming services Netflix, Amazon and Hulu propel a swell in production that’s creating an oversupply, veteran Fox executive John Landgraf said during his semiannual presentation for critics. TV networks will make 500 original scripted shows in 2017, almost 20 percent more than the 419 produced …
Read More »Self-driving cars spur heavy auto deal traffic in Silicon Valley
Bloomberg The auto industry’s self-driving revolution has spurred the biggest two years of car-supplier takeovers in a decade, with more coming as parts makers struggle to keep up with the pace of technological transformation. The total value of automotive-supplier deals in 2015 and 2016 was $74.4 billion, according to data compiled by Bloomberg, with each of those years far …
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