UBS announced a net profit of $1.4 billion for the second quarter of 2019.Earningsread more
Japan and South Korea are part of a complex and tightly linked supply chain that produces electronic goods such as smartphones and laptops.Technologyread more
Michael Kugelman from the U.S.-based Wilson Center says other issues take precedence in the bilateral dialogue between the United States and Pakistan — namely, Afghanistan and...Asia Politicsread more
Beijing says it can still meet its 2019 growth target of between 6% and 6.5% and continues to roll out stimulus measures to prop up activity. China set a 2019 industrial...China Economyread more
A different oil pricing dynamic has been evolving with new supply calculations based on the U.S. as the world's largest producer.Market Insiderread more
The Massachusetts senator's alarm-sounding on consumer debt neglects to measure it against the growth in the economy and the ability to pay.Economyread more
Stocks in Asia Pacific edged up on Tuesday, as investors await closely-watched central bank meetings in the coming days.Asia Marketsread more
More than half of Venezuela's 23 states lost power on Monday, according to Reuters witnesses and reports on social media, a blackout the government blamed on an...World Politicsread more
Equifax will give consumers a range of options for monitoring their credit or making claims of fraud or data misuse, part of a $425 million restitution fund.Technologyread more
The deal between the White House and Democrats was earlier expected to raise the debt ceiling for two years and permanently end the sequester.Politicsread more
Britain's Antstream is jumping into the cloud gaming battle with a streaming platform for retro titles. And Tencent just backed the company.Technologyread more
JetBlue Airways plans to expand service to Europe from the East Coast of the U.S., the low-cost airline said Thursday.
The New York-based carrier said it will swap 13 of its existing Airbus orders in favor of the newly unveiled A321XLR, the manufacturer's longest-range narrow-body jet, to link Boston and New York with a host of European cities as the carrier prepares to take on rivals that dominate trans-Atlantic air travel.
JetBlue in April announced its first service to Europe with flights to London from both New York and Boston that would start in 2021.
JetBlue executives have said they plan to market the airline's premium Mint cabin that features lie-flat seats, better food and amenities kits, to entice high-paying corporate business travelers away from entrenched rivals. The airline is planning to launch a new version of Mint and its coach class for trans-Atlantic routes.
Large airlines like Delta, American, United and their European partners currently control most of the trans-Atlantic market. More than three-quarters of trans-Atlantic service last year was operated by airlines in the largest alliances among carriers, according to consulting firm ICF.
The new Airbus plane would allow JetBlue to service cities in north, south and central Europe, it said.
JetBlue declined to say which European cities it would serve from Boston and New York but spokesman Philip Stewart told CNBC that the airline "will explore European cities that suffer from high fares or mediocre service and those which are effectively controlled by legacy carriers and their massive joint ventures."
A search for a round-trip business-class ticket from New York's John F. Kennedy International Airport to Paris in early September showed up at $5,200 on Delta's site and $3,853 on American's. From Newark to Paris on United the fare was $4,550, a search showed.
The carrier's decision to switch to the longer-range planes, which are scheduled for delivery in 2023, is yet another endorsement of the new jet Airbus launched earlier this week at the Paris Air Show. It has also won orders from American Airlines, British Airways' parent International Consolidated Airlines Group and Frontier Airlines' owner Indigo Partners.
The new single-aisle plane is an aggressive bid by Airbus for the midrange aircraft market. Airbus' pitch to customers is that the planes can fly long distances (New York to Rome, for example) but are cheaper to operate than a wide-body jet, which could also be harder to fill.
Airbus' main rival, Boeing, has been considering a double-aisle midrange jet, but hopes for the company announcing it at the Paris Air Show faded as it has its hands full with the crisis left from two fatal crashes of its bestseller, the Boeing 737 Max, which has been grounded worldwide since mid-March.