In a series of tweets, the president addressed an unusual controversy stemming from a speech Thursday that New York Fed President John Williams delivered.Marketsread more
Four members of the House Armed Services Committee, including ranking member Rep. Mac Thornberry, R-Texas, said moving forward with the contract was critical to U.S. national...Technologyread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
Walmart is making further organizational changes to further integrate its store and digital operations and leadership, according to a memo obtained by CNBC that was sent by...Retailread more
George Nader helped arrange a January 2017 meeting in the Seychelles between Erik Prince and the head of Russia's sovereign wealth fund, who reported directly to Vladimir...Politicsread more
"I'm not hearing people blame the Fed as much as they're blaming tariffs," says CNBC's Jim Cramer.US Economyread more
Earlier, Williams said in a speech that "it's better to take preventative measures than to wait for disaster to unfold."The Fedread more
Gold has been on fire this year and some investors think it is poised to do something it has only done twice since World War II.Marketsread more
The University of Michigan's preliminary print on its consumer sentiment index ticked up to 98.4, from 98.2 in June. Economists polled by Refinitiv expected the preliminary...Economyread more
The mega-cap tech stocks that have led much of the record-long bull run have started to lose steam, but investors are still giving them the benefit of the doubt.Marketsread more
Houston, we have liftoff. Fifty years ago, man landed on the moon and McDonald's and a handful of other stocks took off into the stratosphere. Two of them have more fuel in...Trading Nationread more
Three months after PEOPLExpress Airlines got up in the air, the company has suspended service, effective immediately.
The setback is temporary, the company said, in a statement. It aims to relaunch "on or about Oct. 16."
"Recent aircraft and crew availability and maintenance issues, including an aircraft recently damaged by a vendor's truck, an engine change and a lack of a promised spare aircraft, have made it challenging to operate a full schedule, preventing us from delivering the passenger experience we are striving for," the company said.
A few minutes after the company issued its statement, it sent a revised release changing the term "promised" aircraft to "planned" aircraft.
The airline said it is processing refunds for passengers for flights booked through Oct.15. For reservations beyond that time, PEOPLExpress said its passengers will receive a notification as soon as our resumption plans are finalized.
In August, the airline stranded more than 80 passengers when its captain and first officer were unable to fly and there was no back-up crew available. The airline called the scheduling situation a "perfect storm" and said it was working on agreements with other airlines to provide emergency back-ups.
PEOPLExpress started service June 30 on a handful of routes from its headquarters at Newport News/Williamsburg International Airport in Virginia. Base fares for tickets started at $59, with extra fees for checked luggage, use of overhead bin space and even in-flight beverages such as coffee, tea or water.
The company said 55,000 passengers have so far flown on it 817 flights.
The airline has been flying to Newark, New Jersey; Boston; Pittsburgh; West Palm Beach, Florida; Atlanta; New Orleans and St. Petersburg, Florida.
On Sept. 3, the company announced it planned to start service between Charleston's Yeager Airport and Orlando International Airport as of Oct. 16. The company said today it still plans to start flying that route as of Oct. 16.
The airline shares its name with a low-cost airline that still stirs fond nostalgia from former passengers. The old PEOPLExpress was based at Newark until it was acquired by Continental, which was then acquired by United. "Other than the name there is no affiliation, however a number of our employees previously worked for the old PEOPLEexpress," CEO Jeff Erickson told CNBC in May.
PEOPLExpress wasn't the only new airline to launch this summer. La Compagnie, an all-business class airline flying between Paris and Newark, started service July 21.