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2024-04-22 08:58:55

'Junk fees' or flexible flying? Passenger charges fuel profits — and travellers' ire
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Passenger charges, also known as 'junk fees,' are fueling airline profits and causing frustration among travelers. The additional fees for services such as checked bags, pre-selected seats, and onboard snacks make up a growing share of airline revenue. Air Canada's ancillary revenue reached nearly $2 billion in 2022, up by nearly 50% from five years earlier. WestJet recently introduced a new service tier called 'Extended Comfort,' where economy-class passengers can pay for extra legroom, early access to overhead bins, and a free alcoholic drink. Ancillary revenue plays a critical role in the industry, helping to diversify income and insulate companies from fluctuations in fare prices, fuel costs, and competition. However, some passengers feel that the endless 'nickel-and-diming' risks alienating them. The federal government in Canada has pledged to 'crack down on junk fees' charged by carriers, prompting the National Airlines Council of Canada to demand greater clarity from Ottawa. Larger airlines see no choice but to slice their purchase options into ever thinner levels of service to compete with discount carriers. The debate continues as to whether these charges are 'junk fees' or if they offer greater choice for travelers.
#Airlines #PassengerCharges #AncillaryRevenue #Travelers #Fees
https://www.cambridgetoday.ca/national-business/junk-fees-or-flexible-flying-passenger-charges-fuel-profits-and-travellers-ire-8633351

TSX down almost 1% Friday, U.S. stock markets fall sharply as rate cut hopes wane
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Canada's main stock index, the S&P/TSX composite index, closed down 210.12 points at 21,899.99 on Friday. The Dow Jones industrial average was down 475.84 points at 37,983.24, the S&P 500 index was down 75.65 points at 5,123.41, and the Nasdaq composite was down 267.10 points at 16,175.09. The decline in stock markets is attributed to investors recalibrating their expectations regarding central banks and interest rates. Expectations for rate cuts from the U.S. Federal Reserve have been reduced from three to two or even one. The Bank of Canada is also expected to cut rates starting in June. The Canadian dollar has been negatively affected by these developments, trading at 72.64 cents US. Earnings season in the U.S. began with mixed reports from major banks, causing caution among investors. The May crude contract was up 64 cents at US$85.66 per barrel, the May natural gas contract was up one cent at US$1.77 per mmBTU, the June gold contract was up US$1.40 at US$2,374.10 an ounce, and the May copper contract was up one cent at US$4.26 a pound.
#StockMarket #Tsx #S&p/tsxCompositeIndex #InterestRates #RateCuts #Investors #UsFederalReserve #BankOfCanada #EarningsSeason #CrudeOil #Gold #Copper
https://www.cambridgetoday.ca/national-business/tsx-down-almost-1-friday-us-stock-markets-fall-sharply-as-rate-cut-hopes-wane-8591553

2024-03-15 21:29:51

S&P/TSX composite ekes out gain as base metals rise, U.S. markets down
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Canada's main stock index, the S&P/TSX composite, closed up 19.30 points at 21,849.15 as base metals rose. The U.S. stock markets, however, were down, with the Dow Jones industrial average down 190.89 points at 38,714.77, the S&P 500 index down 33.39 points at 5,117.09, and the Nasdaq composite down 155.36 points at 15,973.17. The week saw a lot of economic data, particularly on inflation, which had mixed results. The University of Michigan reported that consumer sentiment fell unexpectedly in March. The markets also experienced higher volumes and volatility due to the "triple witching," a day when derivative contracts, index options, and futures all mature at once. Next week, all eyes will be on the U.S. Federal Reserve's interest rate decision. The Bank of Canada may be more likely to cut rates in June than the Fed. The TSX performed better than its peers due to strength in copper, which rose in price after news of potential copper production cuts in China. The Canadian dollar traded at 73.89 cents US, while the May crude oil contract was down 16 cents at US$80.58 per barrel, the April natural gas contract was down nine cents at US$1.66 per mmBTU, the April gold contract was down US$6.00 at US$2,161.50 an ounce, and the May copper contract was up eight cents at US$4.12 a pound.
#S&p/tsxComposite #BaseMetals #U.s.Markets #StockIndex #Inflation #InterestRate #BankOfCanada #Copper #CanadianDollar #CrudeOil #NaturalGas #Gold
https://www.cambridgetoday.ca/national-business/sptsx-composite-ekes-out-gain-as-base-metals-rise-us-markets-down-8449509

2024-02-15 21:56:03

Senegal's top election authority voids president's decree postpone Feb. 25 presidential vote
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Senegal's top election authority has voided President Macky Sall's decree to postpone the presidential election scheduled for Feb. 25 and reschedule it for December. The Constitutional Council ruled that the moves were unconstitutional. The National Assembly's decision to reschedule the vote for Dec. 14 was also deemed contrary to the constitution.
#Senegal #Election #PresidentialElection #Postponement #ConstitutionalCouncil #NationalAssembly
https://www.cambridgetoday.ca/world-news/senegals-top-election-authority-voids-presidents-decree-postpone-feb-25-presidential-vote-8314236