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“Southwest was the only remaining airline that didn’t punish my family financially when we wanted to sit next to our young children without paying $35-50 extra per flight,” Emily Porter, a doctor based in Austin, Texas wrote on X soon after the airlines announced it was doing away with its open-seating model. Free bags will be on the chopping block next and they’ll be just as bad as American. Drew Ayling, a software engineer at the Ford Motor company described the move as something that just simply did not “feel right” while TJ Moe, a former America football wide receiver called the move an “a...
Invezz
The 2024 Summer Olympics games begin in Paris today and apart from the over 10,000 athletes congregating from across the world and a few lakh spectators, the expectations of the games’ accelerating tourist inflow have not quite been met. A Euromonitor International report last year predicted an extra 3 million people to come to Paris for the games, increasing tourism spending by up to 4 billion Euros. However, with reports of high-end hotels seeing a drop in bookings, and shops, restaurants and bars seeing a slump in an otherwise peak season, even as airlines factor in loss of revenues due to ...
Invezz
The popular SPDR S&P 500 ETF (SPY) soared to a record high on Monday as investors piled into stocks amid the ongoing stock bull run. The fund jumped to a high of $565, meaning that it has jumped by more than 175% from its lowest point in 2020. SPY to be passed by IVV and VOOThe SPY ETF is at an elevated risk of being passed by the Vanguard S&P 500 (VOO) and the iShares S&P 500 ETF (IVV) in terms of assets. Data by Morningstar shows that the SPY fund has over $558 billion in assets while the IVV has over $506 billion. VOO has $489 billion in assets. Eric Balchunas, who covers ETFs for Bloomberg...
Invezz
“It was probably the first time in my life I had a feeling of no control over everything. I was in disbelief over the whole situation,” 40-year old Tran, a passenger on-board the January 5 Ontario-bound Alaska Airlines told BBC. When an unused door of the Boeing 737 Max 9- the aircraft Tran was on, blew off mid-flight at a height of 16,000 ft, he sat inches away from the gaping hole left behind, battling the resultant powerful decompression, and holding on for dear life even as his shoes got sucked out by the suction, his phone disappeared from his hand, and Tran had to suffer injuries, includ...
Invezz
The World Economic Forum (WEF) is going through a new public relations (PR) crisis after the latest allegations against the organisation and Klaus Schwab, its founder. New Klaus Schwab allegationsIn a long piece, the Wall Street Journal wrote that the agency was dodged with a toxic workplace where women and black people were degraded. The journal cited several instances, such as when Klaus Schswab ordered the human resource manager to lay off most employees aged over 50. The goal was to ensure that the organisation had a lower average of the workforce. The paper also mentioned the case when Kl...
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In an interview with Fortune last month, Costco CEO Ron Vachris highlighted that the core of Costco’s business model is not just the wide array of products on their shelves, but the membership cards that shoppers carry in their wallets. Costco’s thriving membership baseCostco’s membership has become a significant revenue generator for the company. With 130 million members paying between $60 and $120 annually, membership fees alone generated $4.6 billion in revenue last year. The company offers two tiers of membership: the Gold Star membership at $60 per year and the Executive Membership at $12...
Invezz
The European Union is intensifying its scrutiny of Meta, the parent company of Facebook and Instagram, for allegedly failing to protect children on its platforms. The European Commission has launched a formal investigation to determine whether Meta has complied with its obligations under the Digital Services Act (DSA). This investigation underscores growing concerns about the harmful impact of social media on young users, particularly regarding addictive behaviours encouraged by these platforms. High daily engagement among teensAccording to Invezz research, a significant 93% of teens are activ...
Invezz
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