Netflix blames its content slate, regional price increases and a "pull-forward effect" of its strong Q1 growth for the miss.Technologyread more
Netflix lost paid U.S. subscribers for the first time in eight years and fell below analyst estimates for international subscriber growth.Tech Driversread more
Despite a disappointing earnings report, Wall Street analysts are sticking by the stock and looking ahead to the third quarter.Marketsread more
Revenue of $10.24 billion exceeded the consensus estimate by almost $250 million.Financeread more
Treasury Secretary Steven Mnuchin says if the call goes well, he would expect in-person meetings to take place.Marketsread more
Southwest joints United and American in taking the Boeing 737 Max out of its schedules through early November with no end in sight to the federally mandated grounding of the...Airlinesread more
The filing came a day after the judge in Michael Cohen's criminal case ordered their release, saying that the end of a probe into those payments to alleged sexual partners of...Politicsread more
The strengthening of the president's formidable campaign war chest has led his organization, along with the Republican National Committee, to raise over $100 million in the...2020 Electionsread more
The three-judge panel in the U.S. Court of Appeals for the Second Circut also upheld the more than $7.7 million in fines and restitution that a judge imposed on Shkreli last...Biotech and Pharmaceuticalsread more
Raymond James upgraded Apple and said its most recent checks show Apple is preparing to bring a 5G iPhone to a wider range of models than previously thought.Marketsread more
Toys R Us is opening two permanent stores in November — at Simon Property Group's Galleria mall in Houston and at Unibail-Rodamco-Westfield's Garden State Plaza mall in...Retailread more
Airline fuel is overpriced, and the underlying cost of oil should sit around $52 per barrel, Tim Clark, President of Emirates told CNBC Friday.
"I am one of these people that says it is hugely overpriced. If you are at $77 or $83 dollars (per barrel) it should be at $52. That's where it needs to be," Clark said in an interview with CNBC's Joumanna Bercetche on the side-lines of The Aviation Festival in London.
"Those people, those countries, those entities that say they can't make money on $52, they need to be doing something else," he added.
Clark added that as spot prices for oil were now roughly matching the futures price, the market had sensed the oil price was unlikely to rise further from this point.
"I think fuel is now capped out. The forward curve is flat," he said before adding "There's a certain amount of flakiness going forward that fuel will rise above where it is today. That's my view," Clark said.
Emirates, which employs approximately 25,000 cabin crew staff around the world, has seen growth hampered by a prolonged period of lower oil prices in recent years — a key driver of wealth in the Gulf region.
Clark said fuel prices for his airline were now running at roughly 44 percent higher than the same time last year. However, he warned however that many oil producers weren't exhibiting a traditional response to a higher price.
"As the oil producing countries, largely in the Middle East get a benefit of that, historically there was an uptick very rapidly in demand, but we are not seeing that," Clark said.
He added that many emerging markets and Middle East countries were struggling to match the performance of the United States and global growth looked uncertain.
"One has got to worry a little bit about what is driving all of this. Whether it is an inordinate amount of debt creation and that is likely to take its toll. We saw that ten years ago," he said.
On Wednesday Federal health authorities and local police quarantined an Emirates Airline jumbo jet Wednesday morning in New York after several passengers said they were ill.
Flight 203 arrived in New York with around 100 travelers and flight staff complaining of cough, fever and "symptoms of gastrointestinal illness," according to the U.S. Centers for Disease Control and Prevention. 11 people were then taken to hospital as an additional precaution.
Clark told CNBC that no source for the sudden outbreak of sickness had been found as yet, but he expected to discover the root of the problem "within a week."
The Emirates president added that he didn't expect to lose custom over the incident before adding that the airline was an extremely safe organization that "prides ourselves on health and safety."