Tag: Content type
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Airlines Cap Fares as Southwest Cancellations Continue
Rival airlines have capped fares in some cities in response to an influx of last-minute bookings made after Southwest Airlines Ltd. Luv -3.96% Thousands of flights have been scrapped in the past week. Southwest Airlines canceled more than 2,500 flights on Wednesday, or 62% of its scheduled departures, according to FlightAware data. Chief Executive Bob…
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Wall Street’s Bankers Brace for Big Pay Cuts, but Bosses Don’t Want Whining
Wall Street bank earnings have never been as depressed as they are this year. Bankers want the bonus to last a little longer. Fees from advice on trading, stock offerings and bond sales are down more than 40% from this time last year, wiping out more than $50 billion in revenue, according to Dealogic data.…
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Asian shares mixed, but Hong Kong climbs as foreign travel measures ease
BANGKOK (AP) — Asian stocks were mixed on Wednesday after a post-holiday pullback on Wall Street as markets counted down to the end of a painful year for investors. Stocks fell in Tokyo, Shanghai and Seoul, but rose in Hong Kong as the Chinese government took further steps to resume international travel after easing its…
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‘Auto makers are building more expensive vehicles’: Why you should not buy a new car in 2023
There are always good reasons why most people don’t buy new cars. Such purchases can set you back years as high monthly payments delay building the savings and investments you’ll need later. After two years of shortages, empty new car lots and high prices, you might expect 2023 to be the year dealers are generous.…
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Southwest Airlines CEO Says More Cancellations Ahead as Airline Tries to Recover
“Today was a tough day, and tomorrow will probably be another tough one,” CEO Bob Jordan said in an interview Monday night. “This is the biggest event I have ever seen.” Southwest Airlines said it will operate just over a third of its normal schedule over the next few days to allow more time for…
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Tesla Extends Shutdown at Shanghai Plant in Rare Christmas Suspension
Singapore—Tesla Ltd. TSLA <span>-1.76%</span> The company halted vehicle production at its Shanghai plant on Saturday, extending a planned eight-day shutdown at the world’s largest plant by volume, according to a person familiar with the matter.</p><div> <p>On Saturday, Tesla told some employees in Shanghai that it would stop producing cars that day, a day earlier than…
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Not So Fast on Electric Cars
Toyota CEO Akio Toyoda recently let the climate change lobby blow a fuse when his fellow auto executives bravely told the truth about battery electric cars. “Like the fully self-driving cars we thought we were driving, BEVs will take longer to become mainstream than the media would have us believe,” Toyoda said in Thailand. I…