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U.S. FAA clears 45% of commercial plane fleet after 5G deployed

The FAA said Sunday it had cleared an estimated 45% of the U.S. commercial airplane fleet to perform low-visibility landings at many airports where 5G C-band will be deployed.....»»

Category: topSource: foxnews21 hr. 10 min. ago Related News

Flight Cancellations Soar As Brutal Winter Storm Slams Eastern US

Flight Cancellations Soar As Brutal Winter Storm Slams Eastern US Update (1335ET): As the eastern half of the United States braces for a winter storm on Sunday, flight cancellations are rising this afternoon, making travel a huge pain for flyers. According to data provided by FlightAware, there are 2,748 flights cancellations within, into, or out of the US. Delays within the US are increasing as well, up to 1,466. American Airlines canceled 22% of its flights or about 633. Southwest canceled about 9% flights or about 311. Delta canceled 10% flights or about 239.  FlightAware revealed most of the canceled flights originated at airports in the Southeast, Mid-Atlantic, and Northeast, such as Charlotte Douglas International Airport (95% of flights canceled totaling 618), Hartsfield-Jackson Atlanta International Airport (27% of flights canceled totaling 225), and Ronald Reagan Washington National Airport (37% of flights totaling 151).  The high number of cancellations is a multiprong issue. First, crew shortages showed no signs of easing three weeks after Christmas Eve. Second, a winter storm is battering the Southeast and heading up the coast late evening.  Flight cancellations and delays should only increase as the storm inches closer to the Baltimore–Washington metropolitan area. Much of the snowfall will be west of the Interstate 95 corridor.  * * * A massive winter storm could impact upwards of 100 million people across the Southeast, Mid-Atlantic, and Northeast during the latter part of the Martin Luther King Jr. holiday weekend.  National Weather Service (NWS) issued winter storm warnings for 19 states, with some areas over the Appalachians could experience a snowfall rate of 1-3 inches per hour.  "A major Winter Storm will impact the eastern U.S. on Sunday into Monday. The highest snowfall totals are expected along the spine of the Appalachians as well as across the lower Great Lakes. The most significant icing is expected over the Carolinas this morning. Significant impacts to travel across these regions are expected," NWS warned.  Winter storm warnings have been issued for these states: New York, Ohio, Vermont, Virginia, Kentucky, Maine, Massachusetts, Arkansas, New Jersey, Pennsylvania, Georgia, North Carolina, South Carolina, Tennessee, West Virginia, Maryland, Louisiana, Alabama, Mississippi and the District of Columbia. AccuWeather expects 6-12 inches of snow along the Appalachians and even into Ohio and western New York. There's a strong likelihood that snow accumulations of 3 feet could be seen at higher elevations in the Appalachians, Adirondacks, the Green and White mountains, and parts of southwestern New York near Lake Ontario.  Pittsburgh, Johnstown and Scranton, Pennsylvania; Buffalo, Binghamton, Albany and Syracuse, New York; Morgantown, West Virginia; Cleveland; Pittsfield, Massachusetts; Burlington, Vermont; and Caribou, Maine; all face accumulating snow through Monday. As for metro areas along the I-95 corridor, expect 1-3 inches of snow, with a mixture of ice and rain. The heaviest snowfalls will be in the interior Northeast. On Friday, weather models forecasted the heaviest snowfall would be west of the I-95 corridor -- so far, they're right.    Tyler Durden Sun, 01/16/2022 - 13:35.....»»

Category: dealsSource: nytJan 16th, 2022Related News

FedEx wants to put anti-missile lasers on some of its planes

The technology would directs infrared laser energy that disrupts heat-seeking missiles' ability to track an aircraft. Fedex DC-10Carlos Yudica/Shutterstock FedEx is looking to install anti-missile lasers on some of its jets, according to a proposal it sent to the FAA. The request, submitted for government approval back in 2019, is atypical for commercial and civilian planes. The FAA will hear public comment for 45 days before making its decision on allowing FedEx to adapt the tech. FedEx is looking to outfit some cargo planes with a unique protective measure — anti-missile laser technology.The Federal Aviation Association (FAA) said in a filing on Friday it is currently reviewing a request from FedEx to add infrared laser technology to some aircraft. The technology is designed to project a laser outside the plane that counters and disrupts a missile's heat-seeking capabilities."In recent years, in several incidents abroad, civilian aircraft were fired upon by man-portable air defense systems (MANPADS)," the FAA document reads. "This has led several companies to design and adapt systems like a laser-based missile-defense system for installation on civilian aircraft, to protect those aircraft against heat-seeking missiles."In 2003, a surface-to-air missile hit the left wing of an Airbus A330 operating for DHL just after takeoff from Baghdad, Iraq, but crew were able to escape unharmed. In 2014, a missile attack took out a Malaysia Airlines plane over Ukraine, killing 298 passengers.According to the filing, the tech will be adapted onto the Airbus Model A321-200 — a twin-engine, transportation jet with seating for 220 passengers. FedEx operates the worlds largest cargo air fleet, with more than 650 total planes, but it currently does not own or operate any A321-200 aircraft. FedEx did not respond to Insider's request for comment.The feature, which the FAA document described as "novel" and "unusual," is not typically seen on non-military aircraft. The FAA's current design standards are not able to accommodate this technology, the filing also said, and the agency has no basis to determine whether the system will perform as intended. "Infrared laser energy can pose a hazard to persons on the aircraft, on the ground, and another aircraft," the filing also said, citing several adverse affects on flight personnel and airport equipment. "The risk is high because infrared light is invisible to the human eye."Though the FAA and Department of Transportation made the filing public on Friday, the proposal was originally submitted by FedEx in October 2019."With the modifications on [the aircraft], the FAA keeps careful track of anything that is done to a jet that might impact its flight characteristics," said Richard Aboulafia, a managing director at Aerospace consulting firm AeroDynamic Advisory. FedEx could be looking at this as a one-off experiment, purchasing an A321 and testing the technology to see if it wants to add it to more of the company's fleet, Aboulafia told Insider. The company could also be planning on purchasing some A321 planes as part of a civil reserve aircraft fleet that the military could employ in hostile territories, he added.The US government and other civilian American airlines have looked into adding their similar countermeasures to civilian flights for nearly two decades, though high cost and low risk of domestic missile attacks eventually dissuaded them.Aviation regulators will spend 45 days hearing public comment it approves the infrared laser system.Read the original article on Business Insider.....»»

Category: personnelSource: nytJan 15th, 2022Related News

FAA issues new warning for Boeing 787 operators ahead of Verizon, AT&T 5G rollout

The FAA has issued an airworthiness directive requiring Boeing 787 operators to take additional precautions when landing on wet or snowy runways at airports where 5G C-band service is deployed. Approximately 137 aircraft in the U.S. and 1,010 worldwide will be impacted by the order......»»

Category: topSource: foxnewsJan 14th, 2022Related News

Helicopter Operations May Be Affected By Nationwide 5G Rollout

Helicopter Operations May Be Affected By Nationwide 5G Rollout The upcoming AT&T and Verizon 5G rollout create significant headaches for the US aviation community. The latest comes from the Helicopter Association International (HAI) revealed Thursday that US helicopter fleets nationwide might be grounded next week when 5G towers are switched on.  On Dec. 19, AT&T and Verizon plan to turn on their 5G towers as concerns over air safety have delayed the debut of the super-fast cellular network, originally scheduled to launch in early December.  HAI's statement read, "transmission from these towers have been demonstrated to interfere with radar altimeters, widely used in helicopters and other aircraft to measure altitude."  Over 1,450 Notices to Air Missions (NOTAMs) were issued by the Federal Aviation Administration (FAA) across the country next week around 5G towers that AT&T and Verizon will activate. This means that areas around the towers will be considered "hazards" and unsafe for helicopters to operate and may affect "a significant portion of commercial, law enforcement, and other helicopter operations," HAI said.  The heart of the problem lies in the aircraft's radar altimeter uses frequencies close to C-band. 5G towers also use C-band radio spectrum frequencies that have the potential to disrupt radar altimeters, an important device on a helicopter or airplane that informs the pilot of the aircraft's height above ground.  The FAA is mitigating these disruptions by placing 5G buffer zones around major airports so that radar altimeter disruptions do not impact commercial flights.  Meanwhile, Comcast announced the world's first 10G technology for its network that could dramatically increase upload and download capacity in the coming years.  Aircraft manufacturers better figure out how to make radar altimeters that don't interfere with 5G, or some severe aviation disasters could be ahead.  Tyler Durden Thu, 01/13/2022 - 19:20.....»»

Category: worldSource: nytJan 13th, 2022Related News

Vicari named to steer Gary airport to next level

Dan Vicari replaces Duane Hayden, whose contract was not renewed by the authority. Hayden served for four years during former Mayor Karen Freeman-Wilson’s administration.Dan Vicari replaces Duane Hayden, whose contract was not renewed by the authority. Hayden served for four years during former Mayor Karen Freeman-Wilson’s administration......»»

Category: topSource: chicagotribuneJan 13th, 2022Related News

3 Reasons and 3 Stocks to Bet On The Construction Sector In 2022 (Revised)

A hawkish Fed may not be encouraging for the construction sector, but there are other tailwinds that can help us pick winners. A hawkish Fed is bad news for the construction sector, as higher interest rates will increase borrowing costs for both the construction companies and those looking to buy homes. And although the Fed has indicated that it will keep the stock market impact in mind, it is under a lot of pressure to bring down inflation. So interest rate hikes are likely to follow soon after bond purchases normalize. The tapering started in November, when the Fed was buying $120 billion worth, but overall purchases will still continue to increase until some time in March, according to some estimates. And we should expect rate hikes some time after that, certainly by the end of the year. But that still means that we have a full year during which a lot of things are set to change for the construction sector.The first point to keep in mind is that inventories are still low and housing prices are still continuing to rise. And inventories are unlikely to grow rapidly given the fact that there are a lot of constraints. The first constraint is with respect to labor, where supply is very tight. The second constraint is with respect to supply chain issues, which is limiting raw material availability and pricing. The third is with respect to availability of lots, which is a longer-term issue that affects different players differently (depending on the way each has dealt with the situation) and won’t be solved any time soon.  The second reason why I think that there will still be opportunities here is the fact that there is secular demand for housing that is related to demographics. Because 2021 was so tight, a lot of this demand was shelved. On the other hand, those forced into the new normal of operating from home created incremental demand, not all of which was satisfied by the tight conditions last year. So the demand situation remains conducive. If there’s a rate hike toward the end of the year, that’s even more reason to buy before that to lock in a lower rate.And finally, the construction sector doesn’t just include home builders but also non-residential and other kinds of construction and the companies that supply to them. And this segment is going to benefit from Biden’s $550 billion allotment over the next five years for a number of things including roads and bridges, rail repair, public transit, airports, ports, pipelines, EV infrastructure and other public infrastructure.Winnebago Industries WGOHeadquartered in Iowa, Winnebago Industries is a leading producer of recreational vehicles in the United States. The motorhomes or RVs are made in the company's vertically integrated manufacturing facilities in Iowa, while the travel trailer and fifth wheel trailers are produced in Indiana. Winnebago distributes its RV and marine products through independent dealers throughout the United States and Canada.The demand for recreational vehicles picked up during the pandemic and is showing no signs of letting up. It was initially driven by the need to travel while also maintaining social distancing. But as the pandemic ebbed and flowed, it was apparent that a new normal was in order. Since the millennial and younger population is anyway looking for an active outdoor kind of lifestyle, RVs that are increasingly better connected and built on sustainable considerations have been the way to go. Fleet owners have also been increasing capacity as there’s also increasing demand in the rental market. Management quoted RBIA survey data on the last earnings call showing that an additional 9.6 million households say they are considering buying an RV in the next five years and that over 14 million households have camped for the first time during 2020 and 2021.Winnebago beat November quarter earnings expectations by 53.3%. Its 2022 and 2023 (ending August) earnings estimates are up a respective $2.74 (28.7%) and $1.05 (11.2%) in the last 60 days. Analysts currently expect Winnebago revenue and earnings to increase 25.7% and 43.7% in 2022. The dealer order business model ensures that there’s no excess inventory and the backlog indicates that the company is racing to replenish dealer inventories. As such, estimates are on track to keep moving upward.Winnebago carries a Zacks Rank #1 (Strong Buy) stock and Value Score of A, and belongs in the top 13% of Zacks-classified industries, indicating strong upside potential.  Beazer Homes USA BZHBeazer Homes USA designs, builds and sells single family homes primarily for the entry-level and first move-up segment. So their homes tend to balance quality and value.Beazer Homes is one of the lucky homebuilders that has substantially increased its lot position in recent times. At the end of fiscal 2021 ending September, active lots were up 25% from the prior year. It also grew its share of lots controlled by option from about 35% to nearly 50%. This ensures a steady capacity to grow. While supply chain disruptions and cost increases are impacting Beazer Homes just as it is other players, the strong demand environment facilitates record growth.As a result, Beazer Homes topped the Zacks Consensus Estimate by 91.5% in the last quarter. Additionally, the estimated earnings for 2022 increased $1.53 (44.0%) in the last 60 days. The estimated earnings for 2023 increased $1.34 (33.6%) during the same period.Shares of this Zacks Rank#1 company carry a Value Score of A and Growth Score of B. Besides, Beazer Homes belongs in the top 36% of Zacks-classified industries, another indication of upside potential.Toll Brothers TOLToll Brothers Inc. builds single-family detached and attached home communities; master planned luxury residential resort-style golf communities; and urban low, mid, and high-rise communities, principally on the land it develops and improves.Toll Brothers offers a broader product range than Beazer and it also sells land. So, while it is also benefiting from the strong demand that has so far allowed it to transfer rising cost to the customer, it also benefits from strategic initiatives related to its land business. Management has said that its land acquisition has become more capital efficient now, which along with improving operating efficiencies, is contributing to its profitability.  Toll Brothers beat the Zacks Consensus Estimate by 21.8% in the last quarter. In the last 60 days, The Zacks Consensus Estimate for its fiscal 2022 (ending October) earnings has increased 89 cents (10.1%) while the 2023 estimate has increased $1.13 (11.2%). Analysts currently expect Toll Brothers’ revenue and earnings to grow a respective 17.8% and 46.3% this year followed by 8.5% and 15.9% growth in the next.Toll Brothers shares carry a Zacks Rank #1 and an A for both Value and Growth. They’re in the same industry as Beazer, so they too have good upside potential.(We are reissuing this article to correct a mistake. The original article, issued on January 07, 2022, should no longer be relied upon.) Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Toll Brothers Inc. (TOL): Free Stock Analysis Report Beazer Homes USA, Inc. (BZH): Free Stock Analysis Report Winnebago Industries, Inc. (WGO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJan 13th, 2022Related News

Delta Air Lines Announces December Quarter and Full Year 2021 Financial Results

ATLANTA, Jan. 13, 2022 /PRNewswire/ -- Delta Air Lines (NYSE:DAL) today reported financial results for the December quarter and full year 2021 and provided its outlook for the March quarter 2022.  Highlights of the December quarter and full year 2021 results, including both GAAP and adjusted metrics, are on page five and are incorporated here. "2021 was a year like no other for Delta, with significant progress in our recovery supported by growing brand preference, enabling us to be the only major U.S. airline to deliver profitability across the second half of the year," said Ed Bastian, Delta's chief executive officer.  "As always, our people drove this success, which is why we were happy to announce this morning a special profit-sharing payment for all eligible employees." "While the rapidly spreading omicron variant has significantly impacted staffing levels and disrupted travel across the industry, Delta's operation has stabilized over the last week and returned to pre-holiday performance," Bastian said.  "Omicron is expected to temporarily delay the demand recovery 60 days, but as we look past the peak, we are confident in a strong spring and summer travel season with significant pent-up demand for consumer and business travel." December Quarter 2021 Financial Results  Adjusted pre-tax income of $170 million excludes a net impact of $564 million primarily in equity method losses, mark-to-market adjustments on investments and special profit-sharing payment Adjusted operating revenue of $8.4 billion, which excludes third-party refinery sales, was 74 percent recovered versus December quarter 2019 on capacity that was 79 percent restored Total operating expense decreased $833 million compared to the December quarter 2019. Adjusted for costs from third-party refinery sales, total operating expense decreased $1.9 billion or 19% percent in the December quarter 2021 versus the comparable 2019 period Remuneration from American Express in the quarter was $1.2 billion, up 11 percent compared to the December quarter 2019 At the end of the December quarter, the company had $14.2 billion in liquidity, including cash and cash equivalents, short-term investments and undrawn revolving credit facilities Full Year 2021 Financial Results  Adjusted pre-tax loss of $3.4 billion excludes a net benefit of $3.8 billion from items primarily related to the Payroll Support Programs (PSP), partially offset by equity method losses, debt extinguishment charges and special profit-sharing payment Generated a pre-tax profit of $1.1 billion in the second half of 2021. Excluding PSP, mark-to-market adjustments, equity method losses and debt extinguishment charges reported an adjusted pre-tax profit of $386 million in the second half of 2021 Adjusted operating revenue of $26.7 billion, which excludes third-party refinery sales, was 57 percent recovered versus full year 2019 on capacity that was 71 percent restored Total operating expense, which includes $4.5 billion of benefit related to PSP, decreased $12.4 billion compared to 2019. Adjusted for the benefits related to PSP and costs from third-party refinery sales, total operating expense, adjusted decreased $10.9 billion or 27 percent versus 2019 Remuneration from American Express for full year 2021 was $4.0 billion, 98 percent restored compared to full year 2019 Invested $2.9 billion back in the business and reduced financial obligations by $7 billion, including fully funding the pension plans on a Pension Protection Act (PPA) basis The company had total debt and finance lease obligations of $26.9 billion with adjusted net debt of $20.6 billion at the end of December 2021 March Quarter 2022 Outlook 1Q22 Forecast Capacity 1 83% - 85% Total Revenue 1, 2 72% - 76% Fuel Price ($/gal) 2, 3 $2.35 - $2.50 CASM-Ex 1, 2, 4 Up ~15% Gross Capital Expenditures 2 ~$1.6 billion Adjusted Net Debt 2 ~$22 billion 1 Compared to March quarter 2019 2 Non-GAAP measure 3 Fuel guidance based on prices as of January 11 (Brent at $81, cracks at $17, Monroe profit with RINS at $1.31) 4 Includes an ~3 point impact of operational disruption related cost Revenue Environment "The commercial strengths we spoke about last month at Capital Markets Day are evident in our December quarter results.  We ended December with revenues nearly 80 percent recovered to 2019 levels on strong demand and pricing during the holiday period, our premium products continued to perform well, we saw encouraging trends in business and international travel and our diverse revenue streams remained resilient," said Glen Hauenstein, Delta's president. "The recent rise in COVID cases associated with the omicron variant is expected to impact the pace of demand recovery early in the quarter, with recovery momentum resuming from President's Day weekend forward.  Factoring this in to our outlook, we expect total March quarter revenue to recover to 72 to 76% of 2019 levels, compared to 74% in the December quarter."  Operating revenue, adjusted of $8.4 billion for the December quarter 2021 improved 2 percent, or $149 million from September quarter 2021.  Compared to the same period in 2019, operating revenue, adjusted was 74 percent restored, in line with the company's mid-December guidance update on system capacity that was 79 percent restored compared to December quarter 2019 levels. Compared to the September quarter 2021, system yields improved 7 percent on a system load factor decline of 2 points to 78 percent.  As a result, total unit revenue, adjusted improved 6 percent sequentially. Revenue-related Highlights: Domestic revenue recovery progresses on strong holiday demand: Domestic passenger revenue was 78 percent restored compared to December quarter 2019, a 6 point sequential improvement in the rate of recovery versus the September quarter 2021 driven by robust leisure demand, improving corporate travel and strong holiday bookings. International passenger revenue recovered to 50 percent of December quarter 2019 levels, an 8 point improvement sequentially. Premium cabins continue to outperform main cabin: Domestic and short-haul Latin premium product revenue recovery outpaced main cabin by approximately 10 points, flat sequentially, with Domestic premium revenues 84 percent recovered compared to December quarter 2019. Business demand continues to improve: Business travel continues to progress with domestic passenger volumes approaching 60 percent restored during the December quarter 2021. This includes both managed corporate and Small and Medium Enterprises. American Express remuneration exceeded 2019 levels: American Express remuneration of $1.2 billion in the quarter was up 11 percent compared to December quarter 2019 and up 8 points sequentially. Co-brand spend was 121 percent of December quarter 2019, driven by strong holiday retail spend and T&E spend that exceeded December quarter 2019. Co-brand card acquisitions were 86 percent recovered compared to December quarter 2019. Cargo revenue achieves five consecutive quarters of positive growth: Cargo revenue increased to $304 million, a 63 percent improvement compared to the December quarter 2019 and up 24 points sequentially on strong holiday demand and yields. Cost Performance "The Delta team executed incredibly well in 2021, delivering another profitable quarter in an environment that remains dynamic," said Dan Janki, Delta's chief financial officer.  "With omicron impacting our near-term outlook, we expect losses in January and February months with a return to profitability in the month of March.  Despite expectations for a loss in the March quarter, we remain positioned to generate a healthy profit in the June, September and December quarters, resulting in a meaningful profit in 2022." For 2021, total operating expense, adjusted of $29.2 billion decreased 27 percent compared to full year 2019, driven by lower salaries and related benefits, fuel and volume and selling-related expense.  Non-fuel CASM for 2021 increased 11.4 percent versus 2019, on 29 percent lower capacity over the same period. Total operating expense, adjusted of $8.1 billion in the December quarter 2021 increased 3 percent sequentially, driven by both higher fuel and non-fuel costs from the continued restoration of the airline.  Fuel expense, adjusted of $1.6 billion in the December quarter 2021 increased 4 percent, or $55 million compared to the September quarter 2021.  Adjusted fuel price of $2.10 per gallon was up 8 percent compared to the September quarter 2021 driven by higher market prices and partially offset by continued refinery contribution and an improvement in RINs pricing and volume obligations.  During the December quarter 2021, fuel efficiency, defined as gallons per 1,000 ASMs, improved 4.3 percent versus the same period in 2019 as a result of our fleet renewal efforts.  In addition, carbon offsets expensed during the quarter drove a 3¢ impact on fuel prices as Delta supports its commitment to carbon neutrality by pursuing high quality, verified offsets.  Non-fuel cost, adjusted of $6.5 billion was up 3 percent sequentially on a 4 percent decrease in capacity.  This was driven primarily by people-related and seasonal costs.  Compared to the December quarter of 2019, non-fuel unit costs (CASM-Ex) were 8.3 percent higher, including a 1.2 point impact primarily due to omicron disruptions the last two weeks of the December quarter. Non-operating expense for the December quarter 2021 was $658 million including equity method losses, mark-to-market losses on certain investments and losses on the extinguishment of debt.  Non-operating expense, adjusted was $175 million. Balance Sheet, Cash and Liquidity "During 2021, we made significant progress restoring our balance sheet, reducing gross debt by $6 billion and fully funding our pension plans on a PPA basis," Janki said.  "Reducing debt remains a top financial priority as operating cash flow improves to support the return of our balance sheet back to investment grade metrics by 2024." At the end of the December quarter 2021, the company had total debt and finance lease obligations of $26.9 billion with adjusted net debt of $20.6 billion and a weighted average interest rate of 4.2 percent.  Operating cash flow during the December quarter 2021 was $555 million.  Free cash flow was negative $441 million for the quarter with gross capital expenditures reinvested in the business of $948 million. The company's Air Traffic Liability was $6.4 billion at December quarter-end, approximately flat compared to the end of the September quarter.  Delta ended the December quarter with $14.2 billion in liquidity, including $2.9 billion in undrawn revolver capacity.  Other Highlights from the December Quarter 2021 Culture and People Increased vaccination rates to more than 95 percent of employees as Delta continues to prioritize the health and safety of the Delta people Provided free, convenient COVID-19 testing options to Delta people Celebrated 75 years of Delta Cargo, which has played a pivotal role throughout the pandemic transporting vaccines and personal protective equipment as well as life-saving organs for transplant Committed to an eight-year partnership with LA28, making Delta the inaugural founding partner of the Olympic and Paralympic Games Los Angeles 2028 and a sponsor of the United States Olympic and Paralympic teams through 2028. As Team USA's official airline, Delta will manage travel for U.S. Olympians and Paralympians to Beijing 2022, Paris 2024, Milano Cortina 2026 and Los Angeles 2028 Celebrated 200 Chairman's Club inductees through a historic 25th annual gala; this special one-time class of 200 honorees were recognized for embodying the spirit of Delta Customer Experience and Loyalty Named No. 1 in the annual Business Travel News Airline Survey for the 11th consecutive year, sweeping all categories for the 8th straight year Opened the first-ever Delta-TSA PreCheck express lobby and bag drop at Hartsfield-Jackson Atlanta International Airport, with expanded facial recognition capabilities for touch-free, seamless entry Installed high-speed Viasat-powered Wi-Fi on 300 aircraft in 2021, enabling customers on Delta's most popular routes to stream and browse their favorite sites at fast speeds for a simple, flat rate of $5 per flight Launched in-flight entertainment partnership with leading interactive fitness platform Peloton to offer exclusive well-being focused content, giving customers more ways to stretch and unwind at their seats Enhanced Delta FlyReady, a digital solution that takes the guesswork out of international travel in the pandemic era, enabling customers to understand and manage entry requirements at their destination Extended Medallion Status for current Medallion members and rolled over all Medallion Qualification Miles for the second year in a row Launched updates to Global Upgrade Certificates, allowing customers more access to premium seats in Delta Premium Select Environmental, Social and Governance Announced strengthening of executive leadership team with the hiring of Pam Fletcher as the industry's only C-suite Chief Sustainability Officer Recognized as the No. 1 transportation company on The Just 100: Companies Doing Right By America and an overall ranking of No. 38 on the comprehensive global list Promoted health equity and responded to employee feedback with a new 2022 healthcare option designed to increase predictability and lower unplanned, out-of-pocket expenses for plan participants Engaged senior leaders in Racial Equity Leadership Workshops, led by the Groundwater Institute Built upon Delta's commitment to supplier diversity by launching vodka from Du Nord Social Spirits, America's first Black-owned distillery, on all domestic flights and Une Femme's 100 percent women-made wine on select flights Concluded 2021 with a robust set of climate-related goals including committing to set a medium-term science-based target for our global airline as well as a net zero emissions target for 2050, both aligned with the SBTi framework and the UN Race to Zero Signed 27 SAF agreements with corporate and agency customers in 2021. Beginning in 2025, Delta expects to receive 81 million gallons of SAF annually from producers Aemetis, Gevo, Neste and NWABF December Quarter and Full Year 2021 Results December quarter and full year results have been adjusted primarily for the government grant recognition, impairments and equity method losses, losses on extinguishment of debt, unrealized losses on investments, special profit-sharing payment and third-party refinery sales as described in the reconciliations in Note A. GAAP Adjusted GAAP Adjusted ($ in millions except per share and unit costs) 4Q21 4Q19 4Q21 4Q19 FY21 FY19 FY21 FY19 Pre-tax (loss)/income (395) 1,397 170 1,417 398 6,198 (3,415) 6,214 Net (loss)/income (408) 1,099 143 1,098 280 4,767 (2,598) 4,776 (Loss)/diluted earnings per share (0.64) 1.71 0.22 1.70 0.44 7.30 (4.08) 7.32 Pre-tax margin (4.2)% 12.2 % 2.0 % 12.4 % 1.3 % 13.2 % (12.8)% 13.3 % Operating revenue 9,470 11,439 8,430 11,384 29,899 47,007 26,670 46,718 Total revenue per available seat mile (TRASM) (cents) 18.30 17.47 16.29 17.39 15.37 17.07 13.71 16.97 Operating expense 9,207 10,040 8,086 9,961 28,013 40,389 29,197 40,082 Capital expenditures 1,217 1,072 948 954 3,247 4,936 2,876 5,306 Total debt and finance lease obligations 26,920 11,160 26,920 11,160 Adjusted net debt 20,581 10,489 20,581 10,489 Cost per available seat mile (CASM) (cents) 17.79 15.34 12.56 11.59 14.40 14.67 12.12 10.88 Fuel expense 1,577 2,012 1,588 1,983 5,633 8,519 5,625 8,477 Average fuel price per gallon 2.09 2.01 2.10 1.99 2.02 2.02 2.02 2.01 Non-operating expense 658 2 175 6 1,488 420 888 422 Operating cash flow / free cash flow 555 969 (441) 141 3,264 8,425 1,255 4,164 About Delta Air Lines  In a world that thrives on connection, no one better connects the world than Delta Air Lines (NYSE:DAL). Powered by its people around the world, Delta is the U.S. global airline leader in safety, innovation, reliability and customer experience. Delta was named by J.D. Power & Associates as the No. 1 airline in its 2021 North American Satisfaction Study, a recognition of its decade-long airline industry leadership in operational excellence and award-winning customer service. Delta is a values-driven company with a mission of connecting the people and cultures of the globe, striving to foster understanding across a diverse world. Delta is the first airline to commit to becoming carbon neutral on a global basis by focusing on carbon reductions and removals, stakeholder engagement, and coalition building. Delta's long-term vision is zero-impact aviation: air travel that does not damage the environment directly or indirectly via greenhouse gas emissions, noise, waste generation or other environmental impacts. Its people are committed to these values while leading the way in ensuring safe, reliable and comfortable travel. Forward Looking Statements Statements made in this press release that are not historical facts, including statements regarding our estimates, expectations, beliefs, intentions, projections, goals, aspirations, commitments or strategies for the future, should be considered "forward-looking statements" under the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees or promised outcomes and should not be construed as such. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the estimates, expectations, beliefs, intentions, projections, goals, aspirations, commitments and strategies reflected in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the material adverse effect that the COVID-19 pandemic is having on our business; the impact of incurring significant debt in response to the pandemic; failure to comply with the financial and other covenants in our financing agreements; the possible effects of accidents involving our aircraft or aircraft of our airline partners; breaches or lapses in the security of technology systems on which we rely; disruptions in our information technology infrastructure; our dependence on technology in our operations; our commercial relationships with airlines in other parts of the world and the investments we have in certain of those airlines; the effects of a significant disruption in the operations or performance of third parties on which we rely; failure to realize the full value of intangible or long-lived assets; labor issues; the effects of weather, natural disasters and seasonality on our business; the cost of aircraft fuel; the availability of aircraft fuel; failure or inability of insurance to cover a significant liability at Monroe's Trainer refinery; failure to comply with existing and future environmental regulations to which Monroe's refinery operations are subject, including costs related to compliance with renewable fuel standard regulations; our ability to retain senior management and other key employees, and to maintain our company culture; significant damage to our reputation and brand, including from exposure to significant adverse publicity; the effects of terrorist attacks, geopolitical conflict or security events; competitive conditions in the airline industry; extended interruptions or disruptions in service at major airports at which we operate or significant problems associated with types of aircraft or engines we operate; the effects of extensive government regulation we are subject to; the impact of environmental regulation, including increased regulation to reduce emissions and other risks associated with climate change, on our business; and unfavorable economic or political conditions in the markets in which we operate or volatility in currency exchange rates. Additional information concerning risks and uncertainties that could cause differences between actual results and forward-looking statements is contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and our Quarterly Report for the quarterly period ended September 30, 2021. Caution should be taken not to place undue reliance on our forward-looking statements, which represent our views only as of the date of this press release, and which we undertake no obligation to update except to the extent required by law. DELTA AIR LINES, INC. Consolidated Statements of Operations (Unaudited) Three Months Ended Year Ended December 31, December 31, (in millions, except per share data) 2021 2019 $ Change % Change 2021 2019 $ Change % Change Operating Revenue: Passenger $       7,241 $     10,245 $      (3,004) (29)% $     22,519 $     42,277 $    (19,758) (47)% Cargo 304 187 117 63% 1,032 753 279 37% Other 1,925 1,007 918 91% 6,348 3,977 2,371 60%   Total operating revenue 9,470 11,439 (1,969) (17)% 29,899 47,007 (17,108) (36)% Operating Expense: Salaries and related costs 2,632 3,046 (414) (14)% 9,728 11,601 (1,873) (16)% Aircraft fuel and related taxes 1,577 2,012 (435) (22)% 5,633 8,519 (2,886) (34)% Ancillary businesses and refinery 1,233 299 934 NM 3,957 1,245 2,712 NM Contracted services 697 742 (45) (6)% 2,420 2,942 (522) (18)% Landing fees and other rents 542 538 4 1% 2,019 2,176 (157) (7)% Depreciation and amortization 504 622 (118) (19)% 1,998 2,581 (583) (23)% Regional carrier expense 478 536 (58) (11)% 1,736 2,158 (422) (20)% Aircraft maintenance materials and outside repairs 386 417 (31) (7)% 1,401 1,751 (350) (20)% Passenger commissions and other selling expenses 313 542 (229) (42)% 953 2,211 (1,258) (57)% Passenger service 236 325 (89) (27)% 756 1,312 (556) (42)% Aircraft rent 118 105 13 12% 430 423 7 2% Restructuring charges (16) — (16) NM (19) — (19) NM Profit sharing 108 387 (279) (72)% 108 1,643 (1,535) (93)% Government grant recognition — — — NM (4,512) — (4,512) NM Other 399 469 (70) (15)% 1,405 1,827 (422) (23)%   Total operating expense 9,207 10,040 (833) (8)% 28,013 40,389 (12,376) (31)% Operating Income 263 1,399 (1,136) (81)% 1,886 6,618 (4,732) (72)% Non-Operating Expense: Interest expense, net (265) (72) (193) NM (1,279) (301) (978) NM Impairments and equity method (losses)/gains (232) 18 (250) NM (337) (62) (275) NM Gain/(Loss) on investments, net (197) 136 (333) NM 56 119 (63) (53)% Loss on extinguishment of debt (54) — (54) NM (319) — (319) NM Miscellaneous, net 90 (84) 174 NM 391 (176) 567 NM   Total non-operating expense, net (658) (2) (656) NM (1,488) (420) (1,068) NM (Loss)/Income Before Income Taxes (395) 1,397 (1,792) NM 398 6,198 (5,800) (94)% Income Tax Provision (13) (298) 285 (96)% (118) (1,431) 1,313 (92)% Net (Loss)/Income (408) 1,099 (1,507) NM $          280 $       4,767 $      (4,487) (94)% Basic (Loss)/Earnings Per Share $        (0.64) $         1.71 $         0.44 $         7.32 Diluted (Loss)/Earnings Per Share $        (0.64) $         1.71 $         0.44 $         7.30 Basic Weighted Average Shares Outstanding 637 642 636 651 Diluted Weighted Average Shares Outstanding 637 644 641 653   DELTA AIR LINES, INC. Passenger Revenue (Unaudited) Three Months Ended Year Ended December 31, December 31, (in millions) 2021 2019 $ Change % Change 2021 2019 $ Change % Change Ticket - Main cabin $       3,687 $       5,238 $      (1,551) (30)% $     11,626 $     21,919 $    (10,293) (47)% Ticket - Business cabin and premium products 2,585 3,684 (1,099) (30)% 7,713 14,989 (7,276) (49)% Loyalty travel awards 573 726 (153) (21)% 1,786 2,900 (1,114) (38)% Travel-related services 396 597 (201) (34)% 1,394 2,469 (1,075) (44)% Total passenger revenue $       7,241 $     10,245 $      (3,004) (29)% $     22,519 $     42,277 $    (19,758) (47)%.....»»

Category: earningsSource: benzingaJan 13th, 2022Related News

Escobar: After Kazakhstan, The Color Revolution Era Is Over

Escobar: After Kazakhstan, The Color Revolution Era Is Over Authored by Pepe Escobar via TheCradle.co, What happened in Kazakhstan increasingly looks like a US-Turkish-British-Israeli-led coup d'etat attempt foiled dramatically by their Eurasian adversaries... The year 2022 started with Kazakhstan on fire, a serious attack against one of the key hubs of Eurasian integration. We are only beginning to understand what and how it happened. On Monday morning, leaders of the Collective Security Treaty Organization (CSTO) held an extraordinary session to discuss Kazakhstan. Kazakh President Kassym-Jomart Tokayev framed it succinctly. Riots were “hidden behind unplanned protests.” The goal was “to seize power” – a coup attempt. Actions were “coordinated from a single center.” And “foreign militants were involved in the riots.” Russian President Vladimir Putin went further: during the riots, “Maidan technologies were used,” a reference to the Ukranian square where 2013 protests unseated a NATO-unfriendly government. Defending the prompt intervention of CSTO peacekeeping forces in Kazakhstan, Putin said, “it was necessary to react without delay.” The CSTO will be on the ground “as long as necessary,” but after the mission is accomplished, “of course, the entire contingent will be withdrawn from the country.” Forces are expected to exit later this week. But here’s the clincher: “CSTO countries have shown that they will not allow chaos and ‘color revolutions’ to be implemented inside their borders.” Putin was in synch with Kazakh State Secretary Erlan Karin, who was the first, on the record, to apply the correct terminology to events in his country: What happened was a “hybrid terrorist attack,” by both internal and external forces, aimed at overthrowing the government. The tangled hybrid web Virtually no one knows about it. But last December, another coup was discreetly thwarted in the Kyrgyz capital, Bishkek. Kyrgyz intel sources attribute the engineering to a rash of NGOs linked with Britain and Turkey. That introduces an absolutely key facet of The Big Picture: NATO-linked intel and their assets may have been preparing a simultaneous color revolution offensive across Central Asia. On my Central Asia travels in late 2019, pre-Covid, it was plain to see how western NGOs – Hybrid War fronts – remained extremely powerful in both Kyrgyzstan and Kazakhstan. Yet, they are just one nexus in a western nebulae of Hybrid War fog deployed across Central Asia, and West Asia for that matter. Here we see the CIA and the US Deep State crisscrossing MI6 and different strands of Turkish intel. When President Tokayev was referring, in code, to a “single center,” he meant a so far ‘secret’ US-Turk-Israeli military-intel operations room based in the southern business hub of Almaty, according to a highly placed Central Asia intel source. In this “center,” there were 22 Americans, 16 Turks and 6 Israelis coordinating sabotage gangs – trained in West Asia by the Turks – and then rat-lined to Almaty. The op started to unravel for good when Kazakh forces – with the help of Russian/CSTO intel – retook control of the vandalized Almaty airport, which was supposed to be turned into a hub for receiving foreign military supplies. The Hybrid War west had to be stunned and livid at how the CSTO intercepted the Kazakh operation at such lightning speed. The key element is that the secretary of Russian National Security Council, Nikolai Patrushev, saw the Big Picture eons ago. So, it’s no mystery why Russia’s aerospace and aero-transported forces, plus the massive necessary support infrastructure, were virtually ready to go. Back in November, Patrushev’s laser was already focused on the degrading security situation in Afghanistan. Tajik political scientist Parviz Mullojanov was among the very few who were stressing that there were as many as 8,000 imperial machine Salafi-jihadi assets, shipped by a rat line from Syria and Iraq, loitering in the wilds of northern Afghanistan. That’s the bulk of ISIS-Khorasan – or ISIS reconstituted near the borders of Turkmenistan. Some of them were duly transported to Kyrgyzstan. From there, it was very easy to cross the border from Bishek and show up in Almaty. It took no time for Patrushev and his team to figure out, after the imperial retreat from Kabul, how this jihadi reserve army would be used: along the 7,500 km-long border between Russia and the Central Asian ‘stans’. That explains, among other things, a record number of preparation drills conducted in late 2021 at the 210th Russian military base in Tajikistan. James Bond speaks Turkish The breakdown of the messy Kazakh op necessarily starts with the usual suspects: the US Deep State, which all but “sang” its strategy in a 2019 RAND corporation report, Extending Russia. Chapter 4, on “geopolitical measures”, details everything from “providing lethal aid to Ukraine”, “promoting regime change in Belarus”, and “increasing support for Syrian rebels” – all major fails – to “reducing Russian influence in Central Asia.” That was the master concept. Implementation fell to the MI6-Turk connection. The CIA and MI6 had been investing in dodgy outfits in Central Asia since at least 2005, when they encouraged the Islamic Movement of Uzbekistan (IMU), then close to the Taliban, to wreak havoc in southern Kyrgyzstan. Nothing happened. It was a completely different story by May 2021, when the MI6’s Jonathan Powell met the leadership of Jabhat al-Nusra – which harbors a lot of Central Asian jihadis – somewhere in the Turkish-Syrian border near Idlib. The deal was that these ‘moderate rebels’ – in US terminology – would cease to be branded ‘terrorists’ as long as they followed the anti-Russia NATO agenda. That was one of the key prep moves ahead of the jihadist ratline to Afghanistan – complete with Central Asia branching out. The genesis of the offensive should be found in June 2020, when former ambassador to Turkey from 2014 to 2018, Richard Moore, was appointed head of MI6. Moore may not have an inch of Kim Philby’s competence, but he does fit the profile: rabid Russophobe, and a cheerleader of the Great Turania fantasy, which promotes a pan-Turk confederation of Turkic-speaking peoples from West Asia and the Caucasus to Central Asia and even Russian republics in the Volga. MI6 is deeply entrenched in all the ‘stans’ except autarchic Turkmenistan – cleverly riding the pan-Turkist offensive as the ideal vehicle to counter Russia and China. Erdogan himself has been invested on a hardcore Great Turania offensive, especially after the creation of the Turkic Council in 2009. Crucially, next March, the summit of the Confederation Council of Turkic-speaking States – the new Turkic Council denomination – will take place in Kazakhstan. The city of Turkestan, in southern Kazakhstan, is expected to be named as the spiritual capital of the Turkic world. And here, the ‘Turkic world’ enters into a frontal clash with the integrating Russian concept of Greater Eurasia Partnership, and even with the Shanghai Cooperation Organization (SCO) that, crucially, does not count Turkey as a member. Erdogan’s short term ambition seems at first to be only commercial: after Azerbaijan won the Karabakh war, he expects to use Baku to get access to Central Asia via the Caspian Sea, complete with Turkey’s industrial-military complex sales of military technology to Kazakhstan and Uzbekistan. Turkish companies are already investing heavily in real estate and infrastructure. And in parallel, Ankara’s soft power is on overdrive, finally collecting the fruits of exercising a lot of pressure, for instance, to speed up the transition in Kazakhstan from Cyrillic script to the Latin alphabet, starting in 2023. Yet both Russia and China are very much aware that Turkey essentially represents NATO entering Central Asia. The organization of Turkic states are cryptically called the Kazakh operation ‘fuel protests’. It’s all very murky. Erdogan’s neo-Ottomanism – which comes with massive cheerleading by his Muslim Brotherhood base – essentially has nothing to do with the pan-Turanic drive, which is a racialist movement predicating domination by relatively ‘pure’ Turks. The problem is that they are converging while becoming more extreme, with Turkey’s right-wing Grey Wolves deeply implicated. That explains why Ankara intel is a sponsor and, in many cases, a weaponizer of both the ISIS-Khorasan franchise and those Turan racists, from Bosnia to Xinjiang via Central Asia. The Empire handsomely profits from this toxic association, in Armenia, for instance. And the same would happen in Kazakhstan if the operation is successful. Bring on the Trojan Horses Every color revolution needs a ‘Maximum’ Trojan Horse. In our case, that seems to be the role of former head of KNB (National Security Committee) Karim Massimov, now held in prison and charged with treason. Hugely ambitious, Massimov is half-Uyghur and that, in theory, obstructed what he saw as his pre-ordained rise to power. His connections with Turkish intel are not yet fully detailed, unlike his cozy relationship with Joe Biden and son. A former Minister of Internal Affairs and State Security, Lt Gen Felix Kulov, has weaved a fascinating tangled web explaining the possible internal dynamics of the ‘coup’ built into the color revolution. According to Kulov, Massimov and Samir Abish, the nephew of recently ousted Kazakh Security Council Chairman Nursultan Nazarbayev, were up to their necks in supervising ‘secret’ units of ‘bearded men’ during the riots. The KNB was directly subordinated to Nazarbayev, who until last week was the chairman of the Security Council. When Tokayev understood the mechanics of the coup, he demoted both Massimov and Samat Abish. Then Nazarbayev ‘voluntarily’resigned from his life-long chairmanship of the Security Council. Abish then got this post, promising to stop the ‘bearded men,’and then to resign. So that would point directly to a Nazarbayev-Tokayev clash. It makes sense as during his 29-year rule, Nazarbayev played a multi-vector game that was too westernized and which did not necessarily benefit Kazakhstan. He adopted British laws, played the pan-Turkic card with Erdogan, and allowed a tsunami of NGOs to promote an Atlanticist agenda. Tokayev is a very smart operator. Trained by the foreign service of the former USSR, fluent in Russian and Chinese, he is totally aligned with Russia-China – which means fully in sync with the masterplan of BRI, the Eurasia Economic Union and the SCO. Tokayev, much like Putin and Xi, understands how this BRI/EAEU/SCO triad represents the ultimate imperial nightmare, and how destabilizing Kazakhstan – a key actor in the triad – would be a mortal coup against Eurasian integration. Kazakhstan, after all, represents 60 percent of Central Asia’s GDP, massive oil/gas and mineral resources, cutting-edge high tech industries: a secular, unitary, constitutional republic bearing a rich cultural heritage. It didn’t take long for Tokayev to understand the merits of immediately calling the CSTO to the rescue: Kazakhstan signed the treaty way back in 1994. After all, Tokayev was fighting a foreign-led coup against his government. Putin, among others, has stressed how an official Kazakh investigation is the only one entitled to get to the heart of the matter. It’s still unclear exactly who – and to what extent – sponsored the rioting mobs. Motives abound: to sabotage a pro-Russia/China government, to provoke Russia, to sabotage BRI, to plunder mineral resources, to turbo-charge a House of Saud-style ‘Islamization’. Rushed to only a few days before the start of the Russia-US ‘security guarantees’ in Geneva, this color revolution represented a sort of counter-ultimatum – in desperation – by the NATO establishment. Central Asia, West Asia, and the overwhelming majority of the Global South have witnessed the lightning fast Eurasian response by the CSTO troops – who, having now done their job, are set to leave Kazakhstan in a couple of days – and how this color revolution has failed, miserably. It might as well be the last. Beware the rage of a humiliated Empire. Tyler Durden Thu, 01/13/2022 - 02:00.....»»

Category: blogSource: zerohedgeJan 13th, 2022Related News

Food tech"s newest unicorn Flipdish hits $1.25bn valuation after raising c.$100m

Investment will fuel global expansion and R&D as hospitality digitalization booms NEW YORK, Jan. 13, 2022 /PRNewswire/ -- Flipdish, the leading international online ordering and digital experience platform for hospitality, has received a c.$100m investment led by Tencent. The funding values the company at over $1.25bn and follows a $48.5m investment from Tiger Global Management in February 2021. The investment will be used to grow global operations, fund R&D in products that improve the hospitality industry's digital experience for consumers, and support new customers like hotels, stadiums, movie theaters, and airports. Founded by brothers Conor and James McCarthy in 2015, Flipdish allows hospitality businesses to deliver seamless consumer digital experiences which drive business growth. The unicorn provides technology that powers QR code ordering & payment at the table, online ordering for pick-up and delivery, self-service kiosks, customer loyalty programs, and digital marketing. Conor McCarthy, Co-Founder and CEO of Flipdish comments: "Digitization has been transforming the hospitality sector for years. The ongoing pandemic has further accelerated the trend with hospitality businesses becoming increasingly dependent on ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzingaJan 13th, 2022Related News

Food tech"s newest unicorn Flipdish hits $1.25bn valuation after raising c.$100m

Investment will fuel global expansion and R&D as hospitality digitalization booms NEW YORK, Jan. 13, 2022 /CNW/ -- Flipdish, the leading international online ordering and digital experience platform for hospitality, has received a c.$100m investment led by Tencent. The funding values the company at over $1.25bn and follows a $48.5m investment from Tiger Global Management in February 2021. The investment will be used to grow global operations, fund R&D in products that improve the hospitality industry's digital experience for consumers, and support new customers like hotels, stadiums, movie theaters, and airports. Founded by brothers Conor and James McCarthy in 2015, Flipdish allows hospitality businesses to deliver seamless consumer digital experiences which drive business growth. The unicorn provides technology that powers QR code ordering & payment at the table, online ordering for pick-up and delivery, self-service kiosks, customer loyalty programs, and digital marketing. Conor McCarthy, Co-Founder and CEO of Flipdish comments: "Digitization has been transforming the hospitality sector for years. The ongoing pandemic has further accelerated the trend with hospitality businesses becoming increasingly dependent on digital experiences to attract and retain customers. Our investment ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzingaJan 13th, 2022Related News

The 21 best books about time travel, from science fiction classics to time loop romances

If you love watching characters get transported to the past, pick up one of these time travel books, from 'Outlander' to 'Slaughterhouse-Five.' Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.If you love watching characters get transported to the past, pick up one of these time travel books.Amazon; Rachel Mendelson/Insider Time travel is a popular subgenre amongst science fiction readers. Authors have used time travel to tell incredible stories, from romances to historic events. These are 21 of the best time travel books, from 'Outlander' to Octavia Butler's 'Kindred.' Science fiction is a broad and exciting genre with plenty of fun subgenres for readers to explore, such as space operas where readers travel across galaxies or dystopian novels that provide a glimpse at terrifying possible futures. One popular science fiction subgenre is time travel, where characters cross time and space using parallel universes, advanced technology, or simply unexplainable magic. Time travel novels let readers imagine the limitless pasts and futures where anything is possible. To gather these recommendations, we looked at bestseller lists and popular recommendations from Amazon, Bookshop, and Goodreads. From epic romances to genre-bending classics, here are the best time travel books to take you on a reading adventure through time. The best time travel books to read in 2022:An epic time travel love storyAmazon"Outlander" by Diana Gabaldon, available at Amazon and Bookshop, from $9.19In this series that inspired a beloved TV show of the same name, Claire Randall and her husband are enjoying a second honeymoon after she returns from serving as a combat nurse in WWII. Their celebration is cut short, however, when Claire suddenly finds herself thrust back through time to 1743 Scotland. An outlander in this strange time, Claire meets a young warrior named James Fraser, whose love tears her heart between two times.A modern time travel classicAmazon"The Time Traveler's Wife" by Audrey Niffenegger, available at Amazon and Bookshop, from $13.79This contemporary time travel novel has quickly become a classic love story between Clare and Henry, who gravitate towards each other despite Henry's Chrono-Displacement Disorder, which causes him to be misplaced through time. Imaginative and original, "The Time Traveler's Wife" uses multiple points of view to tell an emotional story of love, friendship, and the effects of time on both.A romantic time travel readAmazon"This Is How You Lose the Time War" by Amal El-Mohtar and Max Gladstone, available at Amazon and Bookshop, from $13.15"This Is How You Lose the Time War" is a new, award-winning novel about rival agents Red and Blue who leave each other secret messages as they travel through time, altering history on behalf of their warring home empires. Though the messages begin as playful taunting, they soon become much more in this Queer, sci-fi romance.A time travel novel from the king of horrorAmazon"11/22/63" by Stephen King, available at Amazon and Bookshop, from $15This nearly-1,000 page historical science fiction read is a gripping time travel thriller  — and one of the highest-reviewed Stephen King books. Jake Epping is a high school English teacher who discovers a secret portal to 1958 and is enlisted to go back in time and try to stop the Kennedy assassination, the effects of which can't be known until Jake either succeeds or fails.A classic time travel taleAmazon"Kindred" by Octavia E. Butler, available at Amazon and Bookshop, from $10.39When Dana, a young, Black writer, is inexplicably thrust backward in time from 1976 to a pre-Civil War Maryland plantation, she's met with the drowning of a young white boy, whom she tries but fails to save. As she continues to drift between the past and present, Dana is accused of murdering the child, meets her ancestors, and is forced into slavery, all while trying to find her way back to the present.A journey to the Medieval timesAmazon"Doomsday Book" by Connie Willis, available at Amazon and Bookshop, from $8.27Beginning in near-future London, time travel technology is used by universities to send historians back in time for research purposes. When Kivrin is sent to the past to experience a Medieval village, everything goes immediately wrong and Kivrin is stuck with no way to return home, a mysterious illness, and disaster coming her way in this page-turning novel that won the Hugo, Nebula, and Locus Awards in 1993.An equally devastating and remarkable time travel novelAmazon"Recursion" by Blake Crouch, available at Amazon and Bookshop, from $11.99When a technology emerges that allows humans to return and re-experience their most precious and emotional memories, the effects begin to devastate the world as parallel worlds collide, unraveling society and threatening humanity in its entirety. "Recursion" is one of my all-time favorite novels, an undeniable page-turner that completely engrossed countless readers with Blake Crouch's masterful writing.A non-linear time travel classicAmazon"Slaughterhouse-Five" by Kurt Vonnegut Jr., available at Amazon and Bookshop, from $7.35"Slaughterhouse-Five" is an American classic and considered one of the greatest novels of all time. First published in 1969, this science fiction novel follows Billy Pilgrim from childhood through his time as a soldier during World War II,] and beyond as he travels back and forth through time and tells his story with messages about war, post-traumatic stress, life, and love.A time travel love storyAmazon"How to Stop Time" by Matt Haig, available at Amazon and Bookshop, from $15.30Tom Hazard has lived through many centuries but is ready to settle down as a high school history teacher and live a normal life. Because of his condition, he must not fall in love, but when the French teacher at school catches his eye, Tom flashes back through his many lives to help him figure out how to live in the present.A time loop romanceAmazon"One Last Stop" by Casey McQuiston, available at Amazon and Bookshop, from $10.25When cynical August moves to New York City, she doesn't believe in magical love stories, until she meets Jane on the Q train. As August continues to ride the Q train as often as she can to spend time with Jane, the two realize Jane is stuck there on a strange time loop, displaced from the 1970s and in desperate need of August's help to get her unstuck.An original time travel novel featuring magical realismAmazon"Oona Out of Order" by Margarita Montimore, available at Amazon and Bookshop, from $15.99On New Year's Eve in 1982, Oona Lockhart is minutes away from turning 19 and has a life of opportunities ahead of her, until the clock strikes midnight and Oona wakes up on her 51st birthday. Destined to travel back and forth through time and live her life out of order, Oona must figure out how to navigate life, love, and everything in between.A holiday-themed time travel readAmazon"In a Holidaze" by Christina Lauren, available at Amazon and Bookshop, from $11.59This holiday read is a rom-com fan-favorite about Maelyn Jones, who is on her way to the airport after a final family vacation at their beloved Utah cabin when she sees a truck hurtling towards their car. Just before the truck can hit them, Mae wakes up on the airplane headed to the cabin, stuck in a cycle of reliving the trip over and over until she can discover what makes her happy.A devastating middle-grade time travel readAmazon"The Shape of Thunder" by Jasmine Warga, available at Amazon, $14.49Cora and Quinn are next-door neighbors and best friends who haven't spoken to each other in a year since a tragedy changed both of their lives forever. When Quinn decides the only way to bridge the distance between them is by going back in time to stop that horrible day from ever happening, the two try to unravel the mysteries of time travel in this middle-grade novel about trauma, loss, and healing.A time travel graphic novel about true eventsAmazon"Displacement" by Kiku Hughes, available at Amazon and Bookshop, from $16.55This incredible graphic novel is about Kiku Hughes, who is on vacation in San Francisco when she's abruptly transported back in time to witness the internment camp into which her grandmother was forcibly relocated during World War II. Unsure how or if she will be able to return to the present, Kiku learns her grandmother's true history and begins to see the long-term effects her experiences had on their family and countless other Japanese Americans.A young adult time loop fantasy novelAmazon"Miss Peregrine's Home for Peculiar Children" by Ransom Riggs, available at Amazon and Bookshop, from $13.79In this best-selling young adult fantasy book, Jacob Magellan Portman is taken to a remote island off the coast of Wales to deal with his trauma after a horrible family tragedy. Though the home is allegedly haunted by the inhabitants who died on September 3, 1940, Jacob discovers peculiar children stuck in a time loop, cared for by the equally peculiar Miss Peregrine.A classic time travel storyAmazon"A Wrinkle in Time" by Madeleine L'Engle, available at Amazon and Bookshop, from $5.35On a dark and stormy night, Meg Murry, along with her brother and her friend, set out on a dangerous but extraordinary adventure to rescue her father who mysteriously disappeared. With the help of supernatural friends, the group uses a tesseract to travel through space and time in this 1962 story of love, evil, and purpose.A young adult novel about time travel and loveAmazon"Opposite of Always" by Justin A. Reynolds, available at Amazon and Bookshop, from $10.99Jack and Kate are immediately drawn to each other when they meet at a party and begin to fall in love in the weeks that follow. When Kate tragically dies from a genetic disease, Jack finds himself back at the moment they met, determined to do anything to prevent her death, even if it means hurting others in the process.A magical time travel mangaAmazon"Tokyo Revengers" by Ken Wakui, available at Amazon and Bookshop, from $7.99Takemichi Hanagaki is stuck in his less-than-thrilling life when he learns his middle school girlfriend, Hinata, has been killed by a villainous gang. When an accident sends him 12 years back in time to middle school, Takemichi is determined to change his life and save Hinata in this time travel manga.A time travel story of a father and sonAmazon"How to Live Safely in a Science Fictional Universe" by Charles Yu, available at Amazon and Bookshop, from $11.69Charles Yu lives in a science fiction reality, working as a time machine repairman and searching for his father, who invented time travel and has since disappeared. In this heartfelt read, Charles must navigate the universe with his companions to find a moment where he and his father can meet in memory.A feminist time travel novelAmazon"The Future of Another Timeline" by Annalee Newitz, available at Amazon and Bookshop, from $17.47Told through alternating first-person narratives, this time travel story focuses on two main timelines as Beth finds herself in 1992 with a front-row seat to a murder while Tess is determined to use time travel to fight for a change in 2022. As the two stories intertwine across time, war threatens to destroy time travel in this smart, feminist read.An irresistible time travel readAmazon"Here and Now and Then" by Mike Chen, available at Amazon and Bookshop, from $14.49Kin Stewart may seem like an average man but has a secret: He's actually a time-traveling secret agent from the year 2142, stuck in the present ever since a mission failed 18 years ago. When his rescue team finally arrives, Kin is torn between his two families, trying to keep them both, until a risk to his daughter's existence stretches Kin's love across time to save her.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 13th, 2022Related News

Airlines around the world have raised concerns about Airbus" A350 paint issues, and now Qatar is seeking over $600 million in damages from the planemaker

Included in the court filing is $76 million for one of Qatar's A350s that was set to be re-painted in a special livery for the 2022 World Cup. A Qatar Airways jet arriving from Doha, Qatar, at the airport in Frankfurt, Germany, in January 2015.AP Photo/Michael Probst, File Qatar Airways wants $618 million from Airbus over paint-related damages on the airline's A350 jets. Qatar has grounded 21 of its A350s, citing airworthiness issues due to cracked paint and exposed copper mesh. The two have been at a stalemate for months, with Airbus claiming the paint issues do not impact safety. Paint issues on Airbus' A350 jets have raised concerns from airlines around the world, and Doha-based Qatar Airways is seeking over $600 million in damages from the manufacturer.Qatar has grounded more than 20 Airbus A350 planes since August, citing airworthiness concerns about the surface paint the planemaker uses on the jet, according to Aviation International News. The airline said in a statement that it is following "explicit written instructions" from the Qatari aviation safety regulator.After Airbus pushed back on Qatar's claims, the airline filed a lawsuit against the manufacturer in a London High Court in December. Now, court documents reveal the carrier wants $618 million in compensation from Airbus, Reuters reported on Thursday. The airline is also asking for an additional $4 million for every day the jet remains out of service.Included in the court filing is $76 million for one of Qatar's A350s that was set to be re-painted in a special livery for the 2022 World Cup, which needs 980 repair patches, according to Reuters.An Airbus spokesperson told Insider that it "acknowledges the receipt" of Qatar's claim, which they "deny in total." The company also said they have identified the root cause and "provided necessary guidance to its customers and operators for continuous operations."During the months-long dispute, the manufacturer has repeatedly said the paint flaws do not impact the airworthiness of the A350 and re-emphasized that point in a statement to Insider. The findings were also confirmed by the European Aviation Safety Agency, according to Airbus.Photos obtained by Reuters show what appears to be paint peeling and cracking, and exposed copper mesh on the fuselage of Qatar's A350. According to Reuters, the mesh layer is placed under the paint to protect the plane's fuselage from lightning damage, which strikes planes once a year, on average.While Airbus says the problem is simply "cosmetic," Qatar CEO Akbar Al Baker says the paint flaw is a safety issue, claiming "the fuselage surface below the paint is degrading at an accelerated rate," reported AIN. At least six other carriers have also complained of paint damage on A350s, including Finnair, Cathay Pacific, Etihad, Lufthansa, Delta Air Lines, and Air France, reported Reuters. However, most of these airlines say the issue does not pose a safety threat, with Qatar being the only carrier to ground the jets.In response to the multiple concerns over its A350s, Airbus said in a statement that "it has become necessary for Airbus to seek an independent legal assessment as a way forward to resolve the dispute."However, the planemaker revealed its frustration over Qatar's claims in the same statement, saying "the attempt by this customer to misrepresent this specific topic as an airworthiness issue represents a threat to the international protocols on safety matters."Qatar's complaints have put the airline and Airbus at a stalemate. In June, the carrier announced it would not be accepting any future deliveries of the A350 until Airbus conducts a full root-cause analysis, which Qatar claims the manufacturer has yet to do, according to Reuters.Al Baker told the South China Morning Post in December that Airbus "destroyed" the business relationship with Qatar, which was the launch customer for the Airbus A350-1000. Because of the groundings, the airline temporarily reintroduced five A380 jets in November to cover capacity issues caused by the grounding of the A350, reported AIN.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 6th, 2022Related News

5 Steel Stocks to Boost Your Portfolio Even as Prices Retreat

Despite the recent pullback in prices from historic highs, the favorable fundamentals make the steel space an attractive area to invest in right now. CMC, TMST, TKAMY, NUE and X are worth adding to your portfolio. The steel industry had a banner year in 2021 as steel prices touched all-time highs, allowing companies in this space to churn our record profits despite a spike in the cost of raw materials including ferrous scrap and headwinds from supply-chain and logistics issues.  However, steel prices lost steam in the last three months of the year, partly due to the improving supply-side situation. Despite the pullback, prices remain elevated compared with historic levels while demand fundamentals for steel continue to be solid. In the current scenario, stocks like Commercial Metals Company CMC, TimkenSteel Corporation TMST, thyssenkrupp AG TKAMY, Nucor Corporation NUE and United States Steel Corporation X are worth adding to your portfolio now.Industry Remains on Firm FootingThe steel industry staged a strong comeback last year after being battered by the fallout from the coronavirus pandemic in 2020, thanks to a strong revival in end-market demand and an upswing in steel prices.The pandemic hurt demand for steel across major end-use markets for much of the first half of 2020. However, the industry rebounded strongly on solid pent-up demand and a rally in steel prices. The resumption of operations across major steel-consuming sectors such as construction and automotive following the easing of lockdowns and restrictions globally led to an uptick in steel demand.An upturn in industrial activities is driving demand for steel. Demand remains robust across construction and manufacturing sectors. Order activities in the non-residential construction and equipment remain strong. Steel makers are also seeing improved demand in the energy space.Steel prices also escalated to historically high levels in 2021. Notably, the U.S. steel industry reaped the benefits of record-high steel prices last year, courtesy of an upsurge in demand in major end-use markets and tight supply conditions partly due to production disruptions at domestic steel mills and sizable Section 232 tariffs on steel imports.After hitting a pandemic-led low of roughly $440 per short ton in August 2020, the benchmark hot-rolled coil (“HRC”) prices witnessed a significant rally, breaking above the $1,900 per short ton level in August 2021 on the back of a mismatch between supply and demand.However, HRC prices have come under pressure since October after peaking in September 2021, dragged down by shorter lead times and a slowdown in demand in automotive resulting from production cuts by carmakers in the wake of the semiconductor shortage.The upswing in U.S. steel prices in 2021 also created an unprecedented price arbitrage between U.S. and international prices, thereby attracting imports of lower-priced foreign steel. The strong price arbitrage triggered more steel shipments to U.S. shores last year despite the hefty tariffs. Higher steel imports have been exerting downward pressure on U.S. steel prices of late. Rising production levels have also brought down steel prices. Steel production is expected to pick up going forward with steel mills having completed scheduled maintenances in the final quarter of 2021 and more capacity coming online this year.Nevertheless, HRC prices (currently hovering around $1,600) remain elevated notwithstanding the recent steep correction from its peak levels. They are well above the year-ago levels and nearly four times higher than the August 2020 low.Demand weakness in automotive is likely to continue as the chip shortages are unlikely to abate anytime soon.  Despite a slowdown in steel demand in the automotive space amid the ongoing chip crunch, healthy demand in other end markets including construction is likely to support HRC prices over the near term, driving profit margins of steel companies.The massive infrastructure development project is also expected to be a significant catalyst for the American steel industry and U.S. HRC prices in 2022. On Nov 15, President Joe Biden signed the more than $1 trillion bipartisan infrastructure bill into law. The bill includes about $550 billion in new spending on roads, bridges, tunnels and the electric grid, as well as airports, broadband and other infrastructure improvements. The sizable infrastructure spending will spur demand for domestic steel.Favorable Zacks Industry RankThe Zacks Steel Producers industry currently carries a Zacks Industry Rank #39, which places it in the top 15% of more than 250 Zacks industries. The favorable rank reflects the industry’s strength. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.5 Steel Stocks to Snap UpNotwithstanding the recent pullback in prices from historic highs, the favorable fundamentals make the steel space an attractive area to invest in right now. Strong end-market demand aided by higher industrial activities, still-elevated steel prices, and a sizable infrastructure investment bode well for the industry. Here we pick five steel stocks with a Zacks Rank #1 (Strong Buy) or 2 (Buy) that are good options for investment right now.You can see the complete list of today’s Zacks #1 Rank stocks here.Commercial Metals: Texas-based Commercial Metals, sporting a Zacks Rank #1, is gaining from robust steel demand, driven by elevated spending on the residential and construction sector in North America and recovery in the manufacturing sector. It continues to witness stellar demand for steel products across most end markets. In North America, the company is gaining from strong rebar demand, supported by the solid construction growth along with robust merchant bar and wire rod demand. Strength across the key end markets in both North America and Europe is supporting solid steel sales volumes. CMC also continues to gain from its ongoing network optimization efforts. It also has solid liquidity and financial position, and remains focused on reducing debt.Commercial Metals has expected earnings growth of 10.5% for fiscal 2022. The Zacks Consensus Estimate for fiscal 2022 earnings for CMC has been revised 6.6% upward over the past 60 days. The company has also outpaced the Zacks Consensus Estimate in three of the trailing four quarters. In this time frame, it has delivered an average earnings surprise of roughly 7.4%.TimkenSteel: Ohio-based TimkenSteel carries a Zacks Rank #1.  The company is benefiting from higher industrial and energy demand and a strong pricing environment notwithstanding the semiconductor supply-chain disruptions that are affecting shipments to mobile customers. TMST is seeing continued recovery in its industrial markets. Higher end-market demand and cost-reduction actions are also aiding its performance. It is benefiting from its efforts to improve its cost structure and manufacturing efficiency.TimkenSteel has an expected earnings growth rate of 0.7% for 2022. The consensus estimate for 2022 earnings has been revised 22% upward over the past 60 days. The company surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average being 59.2%.thyssenkrupp: Germany-based thyssenkrupp sports a Zacks Rank #1. The company’s actions to transform into a high-performance and sustainable group of companies contribute to its performance. TKAMY’s Materials Services unit is benefiting from higher prices and sales volumes. It is seeing an upturn in demand across Materials Services and Industrial Components segments on the back of the ongoing macroeconomic recovery. Its Automotive Technology unit is also benefiting from favorable demand conditions and structural improvements. A recovery in demand and higher market prices are also driving its Steel Europe segment.thyssenkrupp has an expected earnings growth rate of 1,085.7% for fiscal 2022. The consensus estimate for fiscal 2022 earnings has been revised 41.8% upward over the past 60 days.Nucor: Charlotte, NC-based Nucor, carrying a Zacks Rank #1, is benefiting from strength in the non-residential construction market and a recovery in the automotive market. The company is also seeing strength in heavy and agriculture equipment and improved conditions in energy markets. Higher demand is supporting its shipments. NUE should also gain from its strategic investments in its most-significant growth projects. It remains committed to boosting production capacity, which should drive profitable growth and strengthen its position as a low-cost producer.The consensus estimate for Nucor’s 2022 earnings has been revised 10.1% upward over the past 60 days. NUE has a trailing four-quarter earnings surprise of roughly 2.7%, on average.United States Steel: Pennsylvania-based United States Steel, carrying a Zacks Rank #2, is gaining from strong demand across end markets, its Best for All business model and higher domestic steel prices. It is witnessing strong consumer-driven demand. The investment in Big River Steel is also expected to be accretive to X’s earnings and will generate significant synergies. Cost-saving initiatives and efforts to improve operation efficiency are also driving its results.The Zacks Consensus Estimate for United States Steel’s 2022 earnings has been revised 57.6% upward over the past 60 days. X also surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average being 24.5%. Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through November, the Zacks Top 10 Stocks gained an impressive +962.5% versus the S&P 500’s +329.4%. Now our Director of Research is combing through 4,000 companies covered by the Zacks Rank to handpick the best 10 tickers to buy and hold. Don’t miss your chance to get in on these stocks when they’re released on January 3.Be First to New Top 10 Stocks >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report United States Steel Corporation (X): Free Stock Analysis Report Nucor Corporation (NUE): Free Stock Analysis Report Commercial Metals Company (CMC): Free Stock Analysis Report Timken Steel Corporation (TMST): Free Stock Analysis Report ThyssenKrupp AG Sponsored ADR (TKAMY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJan 6th, 2022Related News

Political Scandal Erupts As Djokovic Remains In Limbo, His Lawyers Fight To Overturn Australia Entry Ban

Political Scandal Erupts As Djokovic Remains In Limbo, His Lawyers Fight To Overturn Australia Entry Ban Novak Djokovic will remain in Australian immigration detention limbo following a court’s decision to adjourn his appeal against a visa cancellation, the Associated Press reported. Lawyers for the tennis star launched an appeal seeking to overturn the federal government decision to deport him after federal officials overruled a state vaccine exemption. The world's number one tennis player was denied entry into Australia on Thursday after a storm of protest about a decision to grant him a medical exemption from COVID-19 vaccination requirements to play in the Australian Open. The player, due to contest the Australian Open this month, offered insufficient proof to enter the country under current pandemic rules, the Australian Border Force said Thursday. However, a court agreed not to deport him before a full hearing scheduled for Monday, leaving the Serbian champion holed up in a quarantine hotel in Melbourne for at least the next 72 hours. The saga, fuelled by domestic political point-scoring about the country's handling of a record surge in new COVID-19 infections, has led to an international row, with Serbia's president claiming his nation's most celebrated sportsman was being harassed, while Djokovic's father claimed that "this is a fight for everyone." After the decision to deny entry to the tennis star was confirmed, Australian Prime Minister Scott Morrison tweeted that Djokovic was subject to the same rules as everyone. "Rules are rules, especially when it comes to our borders. No one is above these rules. Our strong border policies have been critical to Australia having one of the lowest death rates in the world from Covid, we are continuing to be vigilant," he wrote. "There are no special cases, rules are rules," Morrison said at a televised news briefing. "We will continue to make the right decisions when it comes to securing Australian borders in relation to this pandemic." Spanish champion Rafael Nadal told reporters in Melbourne that he felt sorry for his rival "but at the same time, he knew the conditions since a lot of months ago. He makes his own decision." Djokovic, who has consistently refused to disclose his vaccination status while publicly criticizing mandatory vaccines, kicked off the furore when he said on Instagram on Tuesday he had received a medical exemption to pursue a record-breaking 21st Grand Slam win at the Open starting Jan. 17. The announcement prompted an outcry in Australia, particularly in the tournament host city of Melbourne, which has endured the world's longest cumulative lockdown to ward off the coronavirus, a lockdown which has clearly failed judging by the exponential increase in Australian covid cases. As Reuters notes, the move by the Australian government to block Djokovic's entry has caused ructions between Canberra and Belgrade. Serbian President Aleksandar Vucic said on Twitter he had spoken with Djokovic and accused the Australian government of harassment. "We're doing all we can. This persecution is unfair, starting with the Australian prime minister," he later told Serbian media. "They are acting as if the same set of rules apply to everyone, but they've let in others on the same grounds that Novak had applied to." Morrison said he was aware that "representations have been made" by the Serbian embassy in Canberra and denied the accusations of harassment. Djokovic's father told media in Serbia that his son was ushered into an isolation room under police guard when he touched down at Melbourne's Tullamarine airport at about 11:30 p.m. (1230 GMT) on Wednesday after a 14-hour flight from Dubai. His family later held an emotional news conference at Djokovic's restaurant in central Belgrade, with his nine previous Australian Open trophies on display. "They are keeping him in captivity. They are stomping all over Novak to stomp all over Serbia and the Serbian people," said his father Srdjan, who had earlier told local media his son was "the Spartacus of the new world". "I have no idea what's going on. They're holding my son captive for five hours," Srdjan Djokovic said in a statement to Russian news agency Sputnik. "This is a fight for the libertarian world, this is not just a fight for Novak, but a fight for the whole world! If they don't let him go in half an hour, we will gather on the street. This is a fight for everyone." His mother, Dijana, added: "They are keeping him as a prisoner, that's not human and it's not fair." There was also support on the streets of the Serbian capital. "He is the best in the history of that sport and they cannot break him in any other way but this one. But they are not going to break him," said Belgrade resident Zdravko Cukic. Earlier on Wednesday, Djokovic's coach Goran Ivanisevic posted a photo to social media from what appears to be the Melbourne Airport in Australia where Djokovic reportedly was being held, captioning it, "Not the most usual trip Down Under."         View this post on Instagram                       A post shared by Goran Ivanisevic (@goranivanisevicofficial) At a hearing in the Federal Circuit and Family Court of Australia on Thursday evening, lawyers for Djokovic and the government agreed the player could remain in the country until at least Monday. Nick Wood, a lawyer for Djokovic, earlier told Judge Anthony Kelly that Tennis Australia had advised they needed to know about his participation in the tournament by Tuesday. In response, Kelly, who had asked when Djokovic was scheduled to play his first match, said: "If I can say with the respect necessary, the tail won't be wagging the dog here." Djokovic's fate is tied to a political fight in Australia, characterized by fingerpointing between Morrison's conservative administration and the left-leaning Victoria state government. The squabbles rumbled on as Australia's daily COVID-19 infections hit a record high for the fourth consecutive day, with new cases exceeding 72,000, overwhelming hospitals and causing labour shortages. Under Australia's federal system, states and territories can issue exemptions from vaccination requirements to enter their jurisdictions. However, the federal government controls international borders and can challenge such exemptions. Djokovic travelled to Australia after receiving an exemption from the Victorian government. That exemption - the reasons for which are not known - supported his federal government-issued visa. On his arrival, however, Federal Border Force officials at the airport said Djokovic was unable to justify the grounds for his exemption. The Australian task force that sets the exemption parameters lists the risk of serious cardiac illness from inoculation and a COVID-19 infection within the past six months as qualifiers. However, Morrison said on Thursday that Tennis Australia had been advised weeks ago that a recent infection did not meet the criteria for exemption. Tennis Australia and Victoria government officials said Djokovic had received no preferential treatment. Tyler Durden Thu, 01/06/2022 - 09:45.....»»

Category: smallbizSource: nytJan 6th, 2022Related News

Rise in airport traffic key as SA embarks on $2B expansion plan

Those who use the facility will fund the landmark makeover.....»»

Category: topSource: bizjournalsJan 6th, 2022Related News

The war on terror is going great — for terrorist groups

In the 20 years of fighting since the 2001 AUMF was passed, the number of terrorist groups has doubled. A B-52 drops bombs in Afghanistan.U.S. Air Force/Master Sgt. Ralph Hallmon/AP When the 2001 AUMF passed, the US State Department counted 32 foreign terrorist groups around the world. After 20 years of war, $6 trillion spent, and nearly a million killed, the number of terrorist groups is 69. It began more than two decades ago. On September 20, 2001, President George W. Bush declared a "war on terror" and told a joint session of Congress (and the American people) that "the course of this conflict is not known, yet its outcome is certain."If he meant a 20-year slide to defeat in Afghanistan, a proliferation of militant groups across the Greater Middle East and Africa, and a never-ending, world-spanning war that, at a minimum, has killed about 300 times the number of people murdered in America on 9/11, then give him credit. He was absolutely right.Days earlier, Congress had authorized Bush "to use all necessary and appropriate force against those nations, organizations, or persons he determine[d] planned, authorized, committed, or aided the terrorist attacks that occurred on September 11, 2001 or harbored such organizations or persons."By then, it was already evident, as Bush said in his address, that al-Qaeda was responsible for the attacks. But it was equally clear that he had no intention of conducting a limited campaign."Our war on terror begins with al-Qaeda, but it does not end there," he announced. "It will not end until every terrorist group of global reach has been found, stopped, and defeated."US troops stands guard at Bagram airport, March 2, 2002.REUTERS/Mario LaportaCongress had already assented to whatever the president saw fit to do. It had voted 420 to 1 in the House and 98 to 0 in the Senate to grant an Authorization for Use of Military Force (AUMF) that would give him (and presidents to come) essentially a free hand to make war around the world."I believe that it's broad enough for the president to have the authority to do all that he needs to do to deal with this terrorist attack and threat," Senate Minority Leader Trent Lott (R-MS) said at the time. "I also think that it is tight enough that the constitutional requirements and limitations are protected."That AUMF would, however, quickly become a blank check for boundless war.In the two decades since, that 2001 Authorization for Use of Military Force has been formally invoked to justify counterterrorism (CT) operations — including ground combat, airstrikes, detention, and the support of partner militaries — in 22 countries, according to a new report by Stephanie Savell of Brown University's Costs of War Project.During that same time, the number of terrorist groups threatening Americans and American interests has, according to the US State Department, more than doubled.Under that AUMF, US troops have conducted missions across four continents. The countries in question include some of little surprise like Afghanistan, Iraq, and Syria, and a few unexpected nations like Georgia and Kosovo.President George W. Bush declares the end of major combat in Iraq in a speech aboard the aircraft carrier USS Abraham Lincoln off the California coast.AP Images/J. Scott Applewhite"In many cases the executive branch inadequately described the full scope of U.S. actions," writes Savell, noting the regular invocation of vague language, pretzeled logic, and weak explanations. "In other cases, the executive branch reported on 'support for CT operations,' but did not acknowledge that troops were or could be involved in hostilities with militants."For nearly a year, the Biden administration has conducted a comprehensive evaluation of this country's counterterrorism policies, while continuing to carry out airstrikes in at least four countries.The 2001 AUMF has, however, already been invoked by Biden to cover an unknown number of military missions in 12 countries: Afghanistan, Cuba, Djibouti, Iraq, Jordan, Kenya, Lebanon, Niger, the Philippines, Somalia, and Yemen."A lot is being said about the Biden administration's rethinking of US counterterrorism strategy, and while it's true that Biden has conducted substantially less drone strikes so far than his predecessors, which is a positive step," Savell told TomDispatch, "his invocation of the 2001 AUMF in at least 12 countries indicates that the US will continue its counterterrorism activities in many places. Basically, the US post-9/11 wars continue, even though US troops have formally left Afghanistan."AUMFing in AfricaUS Marines and French soldiers train for urban operations in Timbuktu, Mali, April 16, 2021.US Africa Command/Sgt. William Chockey"[W]e are entering into a long twilight struggle against terrorism," said Rep. David Obey (WI), the ranking Democrat on the House Appropriations Committee, on the day that the 2001 AUMF's fraternal twin, a $40 billion emergency spending bill, was passed. "This bill is a down payment on the efforts of this country to undertake to find and punish those who committed this terrible act and those who supported them."If you want to buy a house, a 20% down payment has been the traditional ideal. To buy an endless war on terror in 2001, however, less than 1% was all you needed. Since that initial installment, war costs have increased to about $5.8 trillion."This is going to be a very nasty enterprise," Obey continued. "This is going to be a long fight." On both counts he was dead on. Twenty-plus years later, according to the Costs of War Project, close to one million people have been killed in direct violence during this country's ongoing war on terror.Over those two decades, that AUMF has also been invoked to justify detention operations at Guantánamo Bay, Cuba; efforts at a counterterrorism hub in the African nation of Djibouti to support attacks in Somalia and Yemen; and ground missions or air strikes in Afghanistan, Iraq, Libya, Pakistan, Somalia, Syria, and Yemen.The authorization has also been called on to justify "support" for partner armed forces in 13 countries. The line between "support" and combat can, however, be so thin as to be functionally nonexistent.A US Army Special Forces weapons sergeant observes Nigerian soldiers training in Diffa, Niger, February 28, 2017.US Army/Sgt. 1st Class Christopher KluttsIn October 2017, after the Islamic State ambushed US troops in Niger — one of the 13 AUMF "support" nations — killing four American soldiers and wounding two others, US Africa Command claimed that those troops were merely providing "advice and assistance" to local counterparts.Later, it was revealed that they had been working with a Nigerien force under the umbrella of Operation Juniper Shield, a wide-ranging counterterrorism effort in northwest Africa. Until bad weather prevented it, in fact, they were slated to support another group of American commandos trying to kill or capture Islamic State leader Doundoun Cheffou as part of an effort known as Obsidian Nomad II.Obsidian Nomad is, in fact, a 127e program — named for the budgetary authority (section 127e of title 10 of the US Code) that allows Special Operations forces to use select local troops as surrogates in counterterrorism missions.Run either by Joint Special Operations Command, the secretive organization that controls the Navy's SEAL Team 6, the Army's Delta Force, and other elite special mission units, or by more generic "theater special operations forces," its special operators have accompanied local commandos into the field across the African continent in operations indistinguishable from combat.The US military, for instance, ran a similar 127e counterterrorism effort, codenamed Obsidian Mosaic, in neighboring Mali. As Savell notes, no administration has ever actually cited the 2001 AUMF when it comes to Mali, but both Trump and Biden referred to providing "CT support to African and European partners" in that region.Meanwhile, Savell also notes, investigative journalists "revealed incidents in which US forces engaged not just in support activities in Mali, but in active hostilities in 2015, 2017, and 2018, as well as imminent hostilities via the 127e program in 2019."And Mali was only one of 13 African nations where US troops saw combat between 2013 and 2017, according to retired Army Brig. Gen. Don Bolduc, who served at Africa Command and then headed Special Operations Command Africa during those years.US Air Force airmen conduct a flag-raising ceremony at Camp Simba in Kenya, August 26, 2019.US Air Force/Staff Sgt. Lexie WestIn 2017, the Intercept exposed the torture of prisoners at a Cameroonian military base that was used by US personnel and private contractors for training missions and drone surveillance. That same year, Cameroon was cited for the first time under the 2001 AUMF as part of an effort to "support CT operations." It was, according to Bolduc, yet another nation where US troops saw combat.American forces also fought in Kenya at around the same time, said Bolduc, even taking casualties. That country has, in fact, been cited under the AUMF during the Bush, Trump, and Biden administrations.While Biden and Trump acknowledged US troop "deployments" in Kenya in the years from 2017 to 2021 to "support CT operations," Savell notes that neither made "reference to imminent hostilities through an active 127e program beginning at least in 2017, nor to a combat incident in January 2020, when al Shabaab militants attacked a US military base in Manda Bay, Kenya, and killed three Americans, one Army soldier and two Pentagon contractors."In addition to cataloging the ways in which that 2001 AUMF has been used, Savell's report sheds light on glaring inconsistencies in the justifications for doing so, as well as in which nations the AUMF has been invoked and why.Few war-on-terror watchers would, for example, be shocked to see Libya on the list of countries where the authorization was used to justify air strikes or ground operations. They might, however, be surprised by the dates cited, as it was only invoked to cover military operations in 2013, and then from 2015 to 2019.In 2011, however, during Operation Odyssey Dawn and the NATO mission that succeeded it, Operation Unified Protector (OUP), the US military and eight other air forces flew sorties against the military of then-Libyan autocrat Muammar Gaddafi, leading to his death and the end of his regime. Altogether, NATO reportedly conducted around 9,700 strike sorties and dropped more than 7,700 precision-guided munitions.Between March and October of 2011, in fact, US drones flying from Italy regularly stalked the skies above Libya. "Our Predators shot 243 Hellfire missiles in the six months of OUP, over 20 percent of the total of all Hellfires expended in the 14 years of the system's deployment," retired Lt. Col. Gary Peppers, the commander of the 324th Expeditionary Reconnaissance Squadron during Operation Unified Protector, told the Intercept in 2018.Despite those hundreds of drone strikes, not to mention attacks by manned aircraft, the Obama administration argued, as Savell notes, that the attacks did not constitute "hostilities" and so did not require AUMF citation.The War for Terror?Al Qaeda leader Osama bin Laden in a video in 1998.CNN via Getty ImagesIn the wake of 9/11, 90% of Americans were braying for war. Rep. Jerrold Nadler (D-NY) was one of them."[W]e must prosecute the war that has been thrust upon us with resolve, with fortitude, with unity, until the evil terrorist groups that are waging war against our country are eradicated from the face of the Earth," he said.More than 20 years later, al-Qaeda still exists, its affiliates have multiplied, and harsher and deadlier ideological successors have emerged on multiple continents.As both political parties rushed the United States into a "forever war" that globalized the death and suffering al-Qaeda meted out on 9/11, only Rep. Barbara Lee (D-CA) stood up to urge restraint."Our country is in a state of mourning," she explained. "Some of us must say, 'Let's step back for a moment, let's just pause, just for a minute, and think through the implications of our actions today, so that this does not spiral out of control.'"While the United States was defeated in Afghanistan last year, the war on terror continues to spiral elsewhere around world.Last month, in fact, President Biden informed Congress that the US military "continues to work with partners around the globe, with a particular focus" on Africa and the Middle East, and "has deployed forces to conduct counterterrorism operations and to advise, assist, and accompany security forces of select foreign partners on counterterrorism operations."A Green Beret gives a weapons demonstration to partner force soldiers at al-Tanf Garrison in Syria, March 3, 2020.US Army/Staff Sgt. William HowardIn his letter, Biden acknowledged that troops continue detention operations at Guantánamo Bay, Cuba, and support counterterrorism operations by the armed forces of the Philippines.He also assured Congress and the American people that the United States "remains postured to address threats" in Afghanistan; continues its ground missions and air strikes in Iraq and Syria; has forces "deployed to Yemen to conduct operations against al Qaeda in the Arabian Peninsula and ISIS"; others in Turkey "to support Counter-ISIS operations"; around 90 troops deployed to Lebanon "to enhance the government's counterterrorism capabilities"; and has sent more than 2,100 troops to "the Kingdom of Saudi Arabia to protect United States forces and interests in the region against hostile action by Iran and Iran-backed groups," as well as approximately 3,150 personnel to Jordan "to support Counter-ISIS operations, to enhance Jordan's security, and to promote regional stability."In Africa, Biden noted, US forces "based outside Somalia continue to counter the terrorist threat posed by ISIS and al-Shabaab, an associated force of al Qaeda" through air strikes and assistance to Somali partners and are deployed to Kenya to support counterterrorism operations.They also remain deployed in Djibouti "for purposes of staging for counterterrorism and counter-piracy operations," while in the Lake Chad Basin and the Sahel, US troops "conduct airborne intelligence, surveillance, and reconnaissance operations" and advise, assist, and accompany local forces on counterterrorism missions.A US soldier talks to a Mozambique soldier next to a US Air Force C-130J at the airport in Maputo, Mozambique, April 5, 2019.US Air Force/Tech. Sgt. Chris HibbenJust days after Biden sent that letter to Congress, Secretary of State Antony Blinken announced the release of an annual counterterrorism report that also served as a useful assessment of more than 20 years of AUMF-fueled counterterror operations.Blinken pointed to the "spread of ISIS branches and networks and al-Qaeda affiliates, particularly in Africa," while noting that "the number of terrorist attacks and the overall number of fatalities resulting from those attacks increased by more than 10 percent in 2020 compared with 2019."The report, itself, was even bleaker. It noted that "ISIS-affiliated groups increased the volume and lethality of their attacks across West Africa, the Sahel, the Lake Chad Basin, and northern Mozambique," while al-Qaeda "further bolstered its presence" in the Middle East and Africa. The "terrorism threat," it added, "has become more geographically dispersed in regions around the world" while "terrorist groups remained a persistent and pervasive threat worldwide."Worse than any qualitative assessment, however, was the quantitative report card that it offered.The State Department had counted 32 foreign terrorist organizations scattered around the world when the 2001 AUMF was passed. Twenty years of war, around $6 trillion, and nearly one million corpses later, the number of terrorist groups, according to that congressionally mandated report, stands at 69.US soldiers recover bundles of fuel at Forward Operating Base Waza K'wah in Afghanistan's Paktika province.US Air Forces Central Command/Master Sgt. Adrian CadizWith the passage of that AUMF, George W. Bush declared that America's war would "not end until every terrorist group of global reach has been found, stopped, and defeated." Yet after 20 years, four presidents, and invocations of the AUMF in 22 countries, the number of terrorist groups that "threaten the security of U.S. nationals or the national security" has more than doubled."The 2001 AUMF is like a blank check that US presidents have used to conduct military violence in an ever-expanding number of operations in any number of places, without adequate oversight from Congress. But it's also just the tip of the iceberg," Savell told TomDispatch. "To truly end US war violence in the name of counterterrorism, repealing the 2001 AUMF is the first step, but much more needs to be done to push for government accountability on more secretive authorities and military programs."When Congress gave Bush that blank check — now worth $5.8 trillion and counting — he said that the outcome of the war on terror was already "certain." Twenty years later, it's a certainty that the president and Congress, Representative Barbara Lee aside, had it all wrong.As 2022 begins, the Biden administration has an opportunity to end a decades-long mistake by backing efforts to replace, sunset, or repeal that 2001 AUMF — or Congress could step up and do so on its own. Until then, however, that same blank check remains in effect, while the tab for the war on terror, as well as its AUMF-fueled toll in human lives, continues to rise.Nick Turse is the managing editor of TomDispatch and a fellow at the Type Media Center. He is the author most recently of "Next Time They'll Come to Count the Dead: War and Survival in South Sudan" and of the bestselling "Kill Anything That Moves."Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 6th, 2022Related News

Kazakh President Requests Troops From Russia & Allies To Quell Unrest

Kazakh President Requests Troops From Russia & Allies To Quell Unrest (update2:01eastern): Russian state sources are reporting that embattled Kazakh President Kassym-Jomart Tokayev has sent a formal request for foreign troops to help quell the ongoing unrest, particularly Russia, as multiple cities have seen state buildings torched by protesters and rioters. KAZAKH PRESIDENT SAYS PROTESTS ARE EXTERNAL AGGRESSION: TASS ⚡️Kazakh President sends request for foreign troops to collective security bloc - involving six former Soviet countries including Russia - to help stem the riots - reports pic.twitter.com/h8Nh1oyieR — RT (@RT_com) January 5, 2022 This after he extended the state of emergency nationwide, and as external monitors have said the internet has been blocked for much of the last 24 hours. Russia's RT has published the following statement: The Kazakh president has asked the Russia-led Collective Security Treaty Organization (CSTO) for help amid violent unrest gripping the nation, claiming that “terrorists” were overrunning strategic facilities across the country. “I believe reaching out to the CSTO partners is appropriate and timely,” President Kassym-Jomart Tokayev was quoted as saying by the media late on Wednesday. * * * It didn't take long for the Kremlin to chime in on the raging and increasingly violent protests which have rocked its southern neighbor, the former Soviet satellite of Kazakhstan. As we underscored earlier, what began as angry mass protests days ago upon authorities removing a cap on gas prices for the citizenry now appears to be a full-blown push for government overthrow happening in the streets. With state buildings on fire and fierce clashes with police in various cities, Kazakh President Kassym-Jomart Tokayev has on Wednesday extended the 'state of emergency' across the whole nation. Already there are rumblings in regional press of possible "foreign manipulation" — causing Russia to warn against any external interference in Kazakhstan's affairs, according to Reuters citing RIA news agency. At the same time some Western pundits are already making this all about Putin. Government buildings attacked in Almaty. Kremlin spokesman Dmitry Peskov addressed the rapidly moving events which has seen the Kazakh president vow not to leave the capital "no matter what". Peskov stressed to reporters that the country can "solve its own problems" and that it's crucial that "no one interfere from the outside." And more, the report quoted Peskov as saying "Kazakhstan had not requested Russian help to deal with protests, triggered by a fuel price increase, that prompted the resignation of its government on Wednesday." The Russian foreign ministry confirmed separately it's monitoring the unrest, "We advocate the peaceful resolution of all problems within the constitutional and legal framework and dialogue, rather than through street riots and the violation of laws," a statement said.  Internet has been blocked across the country for at least a full day at this point, and there were earlier unconfirmed reports that the largest international airport, Almaty Airport, had been stormed and seized by rioters, with all flights canceled.  Hawkish analysts in the West are already linking Kazakh government oppression with who else... Putin Another country with its border to Russia revolts: because the Beloved Leader stays in power for too long. Not a good sign for Putin, who will clearly intervene, if Nursultan (ruling since Summer 1989!) would disappoint Putin. Long live free Kazakhstan! pic.twitter.com/TAjQHDsewf — Sergej Sumlenny (@sumlenny) January 4, 2022 For now at this early point, claims of outside or foreign interference remain highly speculative, also given the lack of much if any international correspondents actually on the ground during the unrest. Meanwhile multiple public buildings, including at least one presidential residence, have been torched, according to widely circulating social media videos. Protesters now storming the main government building in Kazakhstan’s largest city Almaty. pic.twitter.com/lemKcpILL8 — Patrick Reevell (@Reevellp) January 5, 2022 There is also evidence of 'live fire' in various locations, though there's been little in the way of official casualty figures.  Tyler Durden Wed, 01/05/2022 - 14:01.....»»

Category: blogSource: zerohedgeJan 5th, 2022Related News

Russia Warns Against Any "Foreign Interference" In Kazakhstan Unrest

Russia Warns Against Any 'Foreign Interference' In Kazakhstan Unrest It didn't take long for the Kremlin to chime in on the raging and increasingly violent protests which have rocked its southern neighbor, the former Soviet satellite of Kazakhstan. As we underscored earlier, what began as angry mass protests days ago upon authorities removing a cap on gas prices for the citizenry now appears to be a full-blown push for government overthrow happening in the streets. With state buildings on fire and fierce clashes with police in various cities, Kazakh President Kassym-Jomart Tokayev has on Wednesday extended the 'state of emergency' across the whole nation. Already there are rumblings in regional press of possible "foreign manipulation" — causing Russia to warn against any external interference in Kazakhstan's affairs, according to Reuters citing RIA news agency. At the same time some Western pundits are already making this all about Putin. Government buildings attacked in Almaty. Kremlin spokesman Dmitry Peskov addressed the rapidly moving events which has seen the Kazakh president vow not to leave the capital "no matter what". Peskov stressed to reporters that the country can "solve its own problems" and that it's crucial that "no one interfere from the outside." And more, the report quoted Peskov as saying "Kazakhstan had not requested Russian help to deal with protests, triggered by a fuel price increase, that prompted the resignation of its government on Wednesday." The Russian foreign ministry confirmed separately it's monitoring the unrest, "We advocate the peaceful resolution of all problems within the constitutional and legal framework and dialogue, rather than through street riots and the violation of laws," a statement said.  Internet has been blocked across the country for at least a full day at this point, and there were earlier unconfirmed reports that the largest international airport, Almaty Airport, had been stormed and seized by rioters, with all flights canceled.  Hawkish analysts in the West are already linking Kazakh government oppression with who else... Putin Another country with its border to Russia revolts: because the Beloved Leader stays in power for too long. Not a good sign for Putin, who will clearly intervene, if Nursultan (ruling since Summer 1989!) would disappoint Putin. Long live free Kazakhstan! pic.twitter.com/TAjQHDsewf — Sergej Sumlenny (@sumlenny) January 4, 2022 For now at this early point, claims of outside or foreign interference remain highly speculative, also given the lack of much if any international correspondents actually on the ground during the unrest. Meanwhile multiple public buildings, including at least one presidential residence, have been torched, according to widely circulating social media videos. Protesters now storming the main government building in Kazakhstan’s largest city Almaty. pic.twitter.com/lemKcpILL8 — Patrick Reevell (@Reevellp) January 5, 2022 There is also evidence of 'live fire' in various locations, though there's been little in the way of official casualty figures.  Tyler Durden Wed, 01/05/2022 - 12:40.....»»

Category: blogSource: zerohedgeJan 5th, 2022Related News

Stocks Near Record Highs: Buy 6 Top-Ranked ETFs at Cheap Valuation

Wall Street has rallied hard lately on vaccine distribution, decent corporate earnings and strong cash pile-up at the household and corporate levels. Wall Street has rallied hard lately on vaccine distribution, decent corporate earnings and strong cash pile-up at the household and corporate levels. The S&P 500 touched a record high on the first trading day of 2022 while the Dow Jones hit the all-time high levels for two days in a row this year. The two indexes are currently at 4,793.54 and 36,799.65, respectively. However, the year 2022 has brought about rising rate worries.The Fed is expected to enact its first rate hike in three years in about two months to counter inflation. The U.S. central bank has already paced up QE tapering, upped its economic growth projections, raised its inflation outlook and cut the unemployment rate projections.The Fed’s December meeting projections revealed that 12 out of 18 FOMC members expect at least three rate increases in 2022. All 18 policymakers have also indicated the possibility of at least one rate hike before 2022 end (read: Warm Up Your Portfolio With These ETFs This Winter).If rising rate worries pick up momentum, we may see a cut-back on upbeat sentiments. Hence, it is intriguing to pick ETFs that are trading at a bargain and have strong potential. These ETFs have a Zacks Rank #1 (Strong Buy) or 2 (Buy).ETFs in FocusVanguard Financials ETF VFH – Zacks Rank #1; P/E: 11.50X; 1-Month Performance: 3.96%A clear beneficiary of rising rates is banks. As banks seek to borrow money at short-term rates and lend at long-term rates, a steepening yield curve earns more on lending and pays less on deposits, thereby leading to a wider spread. This expands net margins and increases banks’ profits. First Trust Health Care AlphaDEX ETF FXH – Zacks Rank #2; P/E: 18.93X; 1-Month Performance: 6.26%Higher demand for drugs, testing and vaccines for COVID-19 is a plus for the sector. The valuation of the sector is also compelling.iShares U.S. Home Construction ETF ITB – Zacks Rank #2; P/E: 16.59X; 1-Month Performance: 2.52%The thirst for home buying has risen even in the face of increasing housing prices and supply-chain disturbances, thus benefiting homebuilders. No wonder, existing home sales data have come in strong. Global X U.S. Infrastructure Development ETF PAVE – Zacks Rank #2; P/E: 16.71X; 1-Month Performance: 3.66%The passage of the $1.2 trillion U.S. infrastructure bill is a plus for the sector. The infrastructure bill provides $100 billion toward roads, bridges and other major projects. The plan allocates $39 billion to modernize public transit and improve access for disabled people. In addition, the bill has proposed $66 billion for passenger and freight rail, $15 billion for electric vehicles and buses, and $17 billion for airports, ports and waterways (read: 4 Sector ETFs to Gain from Infrastructure Bill).Invesco Dynamic Food & Beverage ETF PBJ – Zacks Rank #2; P/E: 17.84X; 1-Month Performance: 7.02%Demand for food and beverage should remain in the sweet spot as these are necessary items and less ruffled by economic weakness, if there is any.Invesco PureBeta MSCI USA Small Cap ETF PBSM – Zacks Rank #2; P/E: 18.68X; 1-Month Performance: 5.28%Vaccine boosters and antiviral therapies are available now. This should boost the U.S. economy in the coming days. The Fed is also likely to hike rates this year, which may give more strength to the greenback. Since small-cap stocks are more closely tied to the domestic economy, any improvement in the U.S. economy and dollar would be great for such stocks (read: 5 Reasons to Bet on Small-Cap ETFs).   Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report iShares U.S. Home Construction ETF (ITB): ETF Research Reports First Trust Health Care AlphaDEX ETF (FXH): ETF Research Reports Vanguard Financials ETF (VFH): ETF Research Reports Invesco Dynamic Food & Beverage ETF (PBJ): ETF Research Reports Global X U.S. Infrastructure Development ETF (PAVE): ETF Research Reports Invesco PureBeta MSCI USA Small Cap ETF (PBSM): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJan 5th, 2022Related News