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TUI's new strategy is paying off as it beats the quarterly earnings forecast
TUI, Europe's largest travel company, reported better than expected results on Wednesday. Summer travel was more resilient following the warning by Chief Executive Sebastian Ebel that 2025 would be a challenging year for the group. The performance of European airlines was generally good during the second quarter, as it appeared that concerns over a possible decline in travel demand had only a small impact on the results. TUI's underlying earnings (EBIT), before interest and taxes, were 321 million euro ($375 million) for the quarter ending June 30. This was 38% higher than the analysts polled in LSEG and a 38% increase over the year prior. TUI reported a 7% increase in revenue for its third quarter, with revenues across all segments totaling 6.2 billion euro. Shares of the group rose on Tuesday after the company raised its profit forecast for this year. Strong hotel and cruise demand has boosted business in recent months. The third quarter of 2025 and the first nine-month period were very strong. Ebel stated in a Wednesday statement that "Our strategy is working". The company admitted that the business environment for its airline division remained challenging. TUI reported a slight decline in bookings for summer travel during the last quarter. This was due to concerns about inflation and macroeconomic issues affecting consumer demand. According to a recent media presentation, despite a 2% drop in bookings for summer due to the Middle East conflict ticket prices rose 3%. This helped to offset higher costs. European customers, who make up the majority of TUI's clients, are more price sensitive than North American travellers. Ebel, who spoke to reporters during a press conference, said that German bookings had also fallen by 5% because of the hot weather. However, he added that more customers would be expected in the fall. TUI expanded into Asia and Central Europe to diversify revenue streams.
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Wall Street Journal, August 13,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch for the accuracy of these stories. Tinder's parent company Match Group agreed to pay the Federal Trade Commission $14 million in order to settle a complaint filed by the Federal Trade Commission regarding deceptive business practices. Spirit Airlines warned that it was facing doubts about its ability to continue operations, only months after regaining financial stability. The airline's operations are being strained by a weak domestic market and shrinking cash reserves. U.S. president Donald Trump slammed Goldman Sachs CEO David Solomon for predicting wrongly that U.S. Tariffs would harm the economy. He also questioned Solomon's suitability to lead Wall Street. Webtoon Entertainment, an online comics platform, has signed a deal with Disney to bring its iconic comic brands onto the platform. Air Canada has said that negotiations with its 10,000 flight crews have reached an impasse. The carrier warned that if no agreement is reached, it may shut down operations by Saturday. Mexico has sent to the U.S. more than a dozen suspected cartel leaders on Tuesday amid increasing pressure from Donald Trump to demolish the powerful drug groups in Mexico.
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Southern Taiwan closes ahead of Typhoon Podul
Thousands of people were evacuated as a large swathe in southern and eastern Taiwan was shut down and hundreds of flights cancelled on Wednesday ahead of Typhoon Podul's arrival later that day. Taiwan is frequently hit by typhoons. These are usually along the sparsely-populated, mountainous east coast of Taiwan facing the Pacific. Weather officials reported that the mid-strength Typhoon, Podul, which was packing wind gusts of up to 191 kph 118 mph, was headed for the city of Taitung in southeast China as it intensified. It was expected to land nearby on Wednesday afternoon. "Destructive wind from typhoon is expected." "Take shelter as soon as you can," said a text message sent to cellphone users early Wednesday in Taitung. The alert warned of gusts exceeding 150 kph in the next few hours. Nine cities and counties, including southern metropolises Kaohsiung Tainan and Tainan, announced Wednesday's suspension of school and work. Taipei's capital, which is home to Taiwan’s financial markets had no effect. Authorities are working to evacuate residents whose homes have been damaged by the typhoon of July, which brought record-breaking winds and damaged Taiwan's electricity grid. The government reported that almost 5,000 people were evacuated before the arrival of the typhoon. On Wednesday, all domestic flights were canceled. Taiwan's main international carriers China Airlines & EVA Air also cancelled a few international flights. The storm will hit Taiwan's densely-populated west coast after making landfall before moving on to China's southern province, Fujian, later this week. Central Weather Administration forecast that rain up to 600 mm (24 inches) could fall on southern mountainous regions over the next few weeks. In some areas of the south, more than a full year's worth of rain fell in just one week, causing widespread flooding and landslides, resulting in four deaths. (Reporting and editing by Ben Blanchard, Yimou Lee)
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No hazardous materials leakage after Union Pacific train crashes in Texas
The company reported that a Union Pacific Railroad train derailed on Tuesday two miles east from Gordon, Texas. Emergency responders confirmed the cars had not leaked any liquids. Emergency responders from Palo Pinto County stated that the derailment is "being treated as HazMat." In a press release, the company stated that approximately 35 Union Pacific cars had derailed at around 2 pm CDT. The cause of the derailment outside Gordon was unclear. Gordon is a small town of about 460 people located approximately 95 miles (153 km) west of Dallas. The company didn't immediately respond to an inquiry about the materials carried by derailed cars. Palo Pinto County Emergency Services District 1 officials said that the derailment caused some small grassfires which firefighters are working to contain. The emergency officials posted on social media that there were no confirmed leaks of hazardous materials at this time. The railroad said no one was injured in the incident, and that all personnel were present. Railroad said that additional crews are in transit, and an investigation into the incident is underway.
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Air Canada asks for government intervention after contract negotiations with flight attendants fail
Air Canada announced on Tuesday that it had asked the federal government to intervene in contract negotiations with its union of flight attendants after declaring an impasse in the negotiation. The company warned that it was also preparing for possible flight disruptions and had made arrangements with Canadian and foreign carriers in order to offer customers alternatives. Air Canada Rouge and Air Canada, which carry together about 130,000 passengers a day, could be affected by the standoff in contract negotiation as early as this Saturday. The Canadian Union of Public Employees (CUPE), which represents over 10,000 flight attendants in Canada, had earlier rejected the airline’s proposal of binding arbitration. They wanted a negotiated solution. The airline announced that it would offer a 38% total increase in compensation to flight attendants in four years. A 25% raise was offered in the first year. The offer included improved pensions, benefits and ground pay. The union, however, said that the offer was still "below inflation and market value and below minimum wage" and would leave flight attendants without pay for all hours worked. Most airlines have only paid their cabin crew when the plane is in motion. In their most recent contract negotiations, North American flight attendants have asked for compensation for all hours worked. This includes tasks such as boarding passengers or waiting at the airport between flights. Air Canada has offered to compensate flight attendants at only 50% of their hourly wage for certain unpaid work, according to the union. After 72-hour notice, flight attendants can strike as soon as August 16th. Air Canada claimed that the union was "insisting" on unsustainable wages. POTENTIAL FLIGHT DISRUPTIONS The Canadian labor code gives the government the authority to order both parties to arbitrate binding interests to avoid major economic disruptions. Government intervention has been seen in the transportation industry before. Tom Fitzgerald, an analyst at TD Cowen, said that the government would most likely intervene in this situation. Fitzgerald stated that it was difficult to imagine why the Canadian government would allow such a disruption to occur to the economy and travel public in the summer peak season. Reporting by Allison Lampert and Rajesh K Singh in Montreal; Editing by Lisa Shumaker, Stephen Coates
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US will retaliate if IMO members support net zero emission plan
The U.S. rejected Tuesday the proposal of the International Maritime Organization's "Net-Zero Framework", which aims to reduce global greenhouse gas emission from the international shipping industry. It also threatened countries who support the proposal with measures. In a joint announcement, Secretary of State Marco Rubio was joined by Commerce Secretary Howard Lutnick and Energy Secretary Chris Wright, as well as Transportation Secretary Sean Duffy. This announcement comes before a vote in October at the United Nations shipping agency on the proposal to go net-zero. The statement stated that "the Trump Administration unambiguously rejects this proposed before the IMO, and will not accept any action which increases costs for our citizens or energy providers, shipping firms and their customers, tourists, or other stakeholders." It continued, "Our fellow IMO Members should be aware that we will seek their support in opposing this action. We will not hesitate to retaliate against this action or to explore remedies for our Citizens should this effort fail." The U.S. exited IMO talks In April, he spoke on the net zero framework and urged IMO members to reconsider their support. The World Shipping Council (WSC), which represents the major global shipping companies like Maersk, a container carrier, and Wallenius Wilhelmen, a car carrier, declined to comment. Many WSC members have already committed to net-zero operations by 2050. The President of the United States, Donald Trump He has also stated that he is Withdrawal United States The Paris Climate Agreement, which set the goal of countries achieving net-zero emission by 2050. The U.S. has been engaged in a number of activities. In a memo, the United States has warned that it is in the midst of negotiations to achieve a global agreement to reduce plastic pollution. Will not support a Pact This bans certain chemicals and limits plastic pollution. Environmentalists and investors have called for more concrete actions, such as a carbon tax, to be taken by shipping, which accounts for 90% of global trade and nearly 3% the carbon dioxide emissions. The United States is a member of 176 IMO states.
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US Airlines' shares rise as data on airfares signals improved pricing power
The shares of major U.S. airlines soared Tuesday, after positive airfare data for July indicated improved pricing power for the sector. Airlines are bringing capacity under control to align themselves with a softening demand environment. In afternoon trading, shares of United Airlines, American Airlines, and Delta Air Lines all rose between 8 and 10 percent, while Southwest Airlines, a budget airline, gained 4%. Other smaller competitors also grew, with Alaska Air up by 8% and JetBlue Airways around 10%. Low-cost carrier Frontier Group surged 22%. The Bureau of Labor Statistics of the Labor Department released data on Tuesday showing that airfares increased 4% in July, after declining by 0.1% in June. This was their first rise in six months. After months of discounting and margin pressure, airlines have begun to reduce prices due to a weak demand by budget-conscious domestic travellers. Michael Ashley Schulman is the chief investment officer at Running Point Capital. He said that with CPI showing that airfares rose 4% in July carriers have finally regained pricing power. Travelers have been reevaluating their plans and cutting back on discretionary expenses due to the uncertainty caused by President Donald Trump’s tariffs and budget reductions. Since then, airlines have reduced the number of seats they offer and adjusted routes in order to maintain their pricing power and protect margins. Major executives were confident in their ability to reduce capacity and increase airfares by the end of the year during their earnings calls for the second quarter in July. The first increase in six months was the July airfare, which boosted investor confidence that carriers would be able to stabilize prices and profitability through capacity discipline. Schulman stated that the main risk was fuel and labor prices trying to jump ahead of the queue or an unlikely but possible recession. Reporting by Shivansh Tiwary, Bengaluru. Editing by Pooja Deai.
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US Airlines' shares rise as data on airfares signals improved pricing power
The shares of major U.S. airlines jumped Tuesday, after positive airfare data for July indicated improved pricing power for industry as airlines adjust capacity to align with soft demand. In afternoon trading, shares of United Airlines, American Airlines, and Delta Air Lines each jumped by nearly 10%, while the budget competitor Southwest Airlines rose by 4%. Alaska Air, JetBlue Airways and Frontier Group all grew by about 10%. The Bureau of Labor Statistics of the Labor Department released data on Tuesday showing that airfares increased 4% in July, after declining by 0.1% in June. This was their first rise in six months. Travelers have been prompted to cut back on discretionary spending due to the uncertainty caused by President Donald Trump’s tariffs and budget reductions. The carriers were forced to cut fares due to a soft demand, especially from budget-conscious domestic travellers, even though summer is their highest-profit season. Since then, airlines have reduced the number of seats they offer and adjusted routes in order to maintain their pricing power and protect margins. Major executives in the airline industry expressed their confidence during the second quarter earnings call in July. They said they were confident in the ability of the industry to reduce capacity and increase airfares by the end of the year. (Reporting and editing by Pooja Deai in Bengaluru)
Southern Taiwan closes ahead of Typhoon Podul
Thousands of people were evacuated as a large swathe in southern and eastern Taiwan was shut down and hundreds of flights cancelled on Wednesday ahead of the arrival of Typhoon Podul later that day.
Taiwan is frequently hit by typhoons. These are usually along the sparsely-populated, mountainous east coast of Taiwan facing the Pacific.
Weather officials reported that the mid-strength Typhoon, Podul, which was packing wind gusts of up to 191 kph 118 mph, was headed for the city of Taitung in the southeast as it intensified. It was expected to landfall on Wednesday afternoon.
"Typhoon winds are expected to be destructive." "Take shelter as soon a possible," said a text message sent to cellphone users early Wednesday in certain parts of Taitung. The alert warned of gusts exceeding 150 kph in the next few hours.
Nine cities and counties, including southern metropolises Kaohsiung Tainan and Tainan, announced Wednesday's suspension of school and work. Taipei's capital, which is home to Taiwan’s financial markets had no effect.
Authorities are working to evacuate residents whose homes have been damaged by the typhoon of July, which brought record-breaking winds and damaged Taiwan's electricity grid.
The government reported that more than 5,500 people were evacuated before the arrival of the typhoon.
Transport ministry: All domestic flights - 252 - were cancelled Wednesday, while 129 international flights were also canceled.
Taiwan's China Airlines and EVA Air, the two largest international carriers in Taiwan, said that their cancellations were mainly focused on routes from Kaohsiung. Some flights also stopped at Taoyuan's international airport.
The storm will hit Taiwan's densely-populated west coast after making landfall before moving on to China's southern province, Fujian, later this week.
Central Weather Administration forecast that rain up to 600 mm (24 inches) could fall on southern mountainous regions over the next few weeks.
In some areas of the south, more than a full year's worth of rain fell in just one week, causing widespread flooding and landslides, and resulting in four deaths. (Reporting and editing by Ben Blanchard, Yimou Lee)
(source: Reuters)