It's about time to write off high-growth tech stocks, Goldman warned, saying software carries the highest multiples since the tech bubble.Marketsread more
Iran will surpass the internationally agreed levels of its low-enriched uranium levels in 10 days, the country's atomic energy body said Monday.Politicsread more
Boeing said the airline industry will need 44,040 new commercial airplanes by 2038. The market value of those planes would reach $6.8 trillion, up from $6.49 trillion...Airlinesread more
Apple is reportedly building three new iPhones for 2020, including two with 5G. It may also slightly change the screen sizes of the new iPhones.Technologyread more
Sotheby's announces it has signed an agreement to be acquired by BidFair USA, a venture owned by art collector Patrick Drahi.Marketsread more
Overall, extortion by email is growing significantly, according to the FBI's Internet Crime Compliant Center (IC3). Last year, these complaints rose 242% to 51,146 reported...Technologyread more
In a 7-2 ruling, over dissents from Justices Ruth Bader Ginsburg and Neil Gorsuch, the justices affirmed the so-called "dual sovereignty" exception to the Constitution's...Politicsread more
Target's nationwide cash register meltdown over the weekend created more than $16 million in buzz on the internet from news reports and other social media mentions, according...Retailread more
The chipmaker crush could persist and investors should be selective, but Nvidia looks like a clear buy, one market watcher says.Trading Nationread more
The top court scrapped a ruling from the Oregon Court of Appeals in favor of the same-sex couple. The owners of the bakery, which refused the make the cake due to religious...Politicsread more
Boeing reached a deal with British Airways to provide parts for some of its plane's made by rival manufacturer Airbus, part of Boeing's push to grow its services business.Airlinesread more
Talk about a turnaround.
After years of dismissing the practice of bumping passengers from overbooked flights as just a regular part of doing business, airlines have done an about face.
In the second quarter, the percentage of passengers bumped from flights in the U.S. was the lowest since 1995, when the U.S. Department of Transportation started tracking overbooked flights.
A total of 7,764 people out of the 177 million who flew in April, May and June, were bumped from flights. The passenger bump rate was down compared with the same time a year ago.
"Airlines knew if they didn't solve the problem, somebody else would have solved it for them," said Seth Kaplan, managing partner of Airline Weekly.
That somebody else would have been the federal government, with members of Congress threatening new rules and regulations to change how airlines booked and treated passengers.
Those threats came after Dr. David Dao was dragged off of an oversold United Airlines flight in April. The video of a bumped passenger being forcibly removed sparked outrage not only against United Airlines but the industry's practice of overselling flights and telling passengers there's no seat for them.
After being scorned around the world, United Airlines CEO Oscar Munoz not only apologized publicly, he announced United would dramatically reduce how often it bumped passengers.
United and Delta Air Lines have both increased how much money gate agents can offer passengers to voluntarily give up their seat. Raising the possible payment up to $10,000.
Kaplan said the changes in policies are far better for passengers and airlines.
"If you set it up so people get off voluntarily, overselling flights is not a big problem," he said.
Correction: The 0.44 percent in an earlier version of this article for the rate per 10,000 passengers was mischaracterized.