Of all the cases of economic espionage charged by the DOJ's National Security Division since 2012, more than 80% of them implicated China.World Politicsread more
"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
Cryptocurrency fans will hope the futures contracts, which are federally regulated, can provide some much-needed legitimacy to bitcoin.Cryptocurrencyread more
Despite mixed fan and critic reactions to the final season of "Game of Thrones," the eight-season epic took home the top prize in the drama category at the Emmy Awards on...Entertainmentread more
There are alternative financial centers and investors can turn to Singapore, Tokyo or Shanghai if Hong Kong doesn't "shape up," says the founder and chairman of Citic Capital.Asia Economyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Traderead more
On Sunday, the 71st Primetime Emmy Awards honored the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
U.S. President Donald Trump's national security advisor said on Sunday that White House Asia policy adviser Matt Pottinger would become his top deputy.Politicsread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
Shares of American Airlines plunged more than 6 percent to a more than two-year low on Tuesday, after the carrier said its fuel costs were higher than it previously expected in the last quarter, and it detailed the impact from Hurricane Florence last month.
American shares fell to $33.55, its lowest closing price since August 2016, according to FactSet. The company's stock is down more than 35 percent so far this year, more than any other U.S. airline, ramping up pressure on CEO Doug Parker to persuade investors that the carrier can grow profits, even as fuel prices climb.
The airline will report third-quarter earnings later this month. Analysts polled by Thomson Reuters expect the carrier to post a per-share profit of $1.21, down close to 15 percent from the year-earlier period.
In an investor update released Tuesday morning, American said Hurricane Florence last month cost it $55 million in revenue in the quarter ended Sept. 30, after it canceled about 2,100 flights. The airline raised its estimated fuel cost in the last quarter from $2.28 to $2.33, up from its July forecast of $2.22 to $2.27.
American, however, raised its estimated increase in revenue per seat mile, a key industry metric, for the third quarter to 2 to 3 percent, up from forecast growth of 1 percent to 3 percent.
U.S. airline stocks have largely struggled this year amid a profit-crimping rise in fuel, generally airlines' second-largest expense after employee salaries. The sole outlier is United Airlines, whose stock is up nearly 21 percent this year. Shares of Delta Air Lines, which will report third-quarter earnings on Thursday, are down more than 9 percent this year.
Airline shares were down broadly on Tuesday. United and Delta each shed more than 2 percent. Southwest Airlines shares ended the day down close to 2 percent, while Alaska Airlines fell more than 4 percent.