Even with better economic data, the market is betting the Fed will cut rates by 50 basis points in July, after dovish comments from two Fed officials.Market Insiderread more
Iran on Friday denied President Donald Trump's assertion that the U.S. Navy has destroyed one of its drones, saying all of its unmanned planes were safe.Politicsread more
Regional stability, oil prices and potential for war will all depend on what Iran does with its nuclear program in the event of the deal's termination.World Politicsread more
Boeing will take a nearly $5 billion charge in the second quarter to compensate 737 Max customers as the planes remain grounded.Airlinesread more
Earlier, Williams delivered a speech at the annual meeting of the Central Bank Research Association in which he said, "It's better to take preventative measures than to wait...The Fedread more
Market researcher James Bianco believes it's crucial to get a half point cut at the next Federal Reserve meeting.Trading Nationread more
The base version of the sports car will punch out 495 horsepower, 40 more than the seventh-generation car and enough to launch it from 0 to 60 in "less than three seconds"...Autosread more
Taiwanese President Tsai Ing-wen is expected to stop over in the U.S. on Friday on her way back from visiting diplomatic allies in the Caribbean, a move that's sure to make...China Politicsread more
Animation fans and Kyoto residents gathered at the site of Japan's worst mass killing in 18 years on Friday, offering flowers and prayers for the 33 people who died in an...Asia Newsread more
Libra and bitcoin are different in a lot of ways, from the technology behind them to the way they're used.Technologyread more
Microsoft beat on top and bottom lines, and guidance was just ahead of expectations, but the company's Azure growth is slowing down.Technologyread more
American Airlines has agreed to pay $200 million for a stake in China Southern Airlines, the biggest of China's three major state-owned carriers, in a bid for a bigger share of the country's growing travel market.
American and China Southern will expand commercial cooperation, possibly in sales, airport facilities and code-sharing, the Chinese airline said in an announcement Tuesday through the Hong Kong stock exchange. It said the deal represents 2.76 percent of China Southern's shares and requires regulatory approval.
Foreign carriers are forging steadily closer ties with Chinese airlines to gain a bigger share of China's air travel market, which is growing strongly while travel in Europe and North America is leveling off. In exchange, Chinese carriers get access to experience and management skills.
China is forecast to pass North America over the next two decades as the biggest air travel market.
China's economic growth is slowing but tourism spending is rising as communist leaders encourage growth of service businesses in an effort to reduce reliance on heavy industry.
Chinese spending on air travel rose 10.6 percent in 2015, compared with 1.7 percent in the United States, according to the International Air Travel Association.
Two years ago, Delta Airlines paid $450 million for 3.55 percent of China Eastern Airlines. The third major U.S. carrier, United Airlines, has a partnership with Air China, the third major Chinese government-owned airline. Hong Kong-based Cathay Pacific Airlines owns 18 percent of Air China.
Regulators in both China and the United States are reluctant to allow large foreign ownership stakes or management control of their airlines.
China Southern, headquartered in Guangzhou, near Hong Kong, is China's biggest carrier by passenger volume but is known for sometimes haphazard service, with flights delayed or canceled with little notice.
China Southern says it operates more than 2,000 flights a day to 224 destinations in 40 countries and regions in Asia, Europe, North America and Africa. It says it carried 115 million passengers in 2016.
The partnership with American Airlines "is expected to provide continuous impetus for the company's long-term growth," said China Southern's announcement.
American, headquartered in Fort Worth, Texas, says it operates 6,700 flights a day to nearly 350 destinations in more than 50 countries.