Karen's Feed
Jun 7, 2012

No direct link for Fed policy, Greek vote-Lockhart

, June 7 (Reuters) – Making a direct connection
between debt-stricken Greece’s upcoming elections and any policy
decision by the U.S. Federal Reserve would be unjustified,
Atlanta Federal Reserve President Dennis Lockhart said on
Thursday.

The U.S. central bank is due to hold a regular policy
meeting on June 19-20, just after a June 17 Greek election that
could decide the fate of the country as a member of the euro
zone.

Jun 5, 2012

More hotel deals expected in 2012

By Karen Jacobs

(Reuters) – The value of hotel deals for the first five months of 2012 came to $5.1 billion, down from $6.4 billion a year earlier, research from Jones Lang LaSalle Hotels indicated as attendees at a New York hospitality industry conference said they expected more hotel transactions this year.

The hotel investment services firm said the average price per room for single hotels that were bought so far this year topped $194,000, five percent higher than the level for all of 2011.

May 1, 2012

Corrected: Delta buys refinery, becoming first airline to make own fuel

By Karen Jacobs

(Reuters) – Delta Air Lines Inc (DAL.N: Quote, Profile, Research, Stock Buzz) will buy a Pennsylvania oil refinery from ConocoPhillips (COP.N: Quote, Profile, Research, Stock Buzz) for $180 million, an audacious bid to save money on fuel costs by investing in a sector shunned by many of the biggest oil firms.

Atlanta-based Delta said the first ever purchase of a refinery by an airline would allow it to cut $300 million annually from jet fuel costs, which reached $12 billion last year. It said production at the refinery along with other agreements to exchange refined products for jet fuel would provide 80 percent of its fuel needs in the United States.

May 1, 2012

Delta buys refinery, becoming first airline to make own fuel

By Karen Jacobs

(Reuters) – Delta Air Lines Inc (DAL.N: Quote, Profile, Research, Stock Buzz) will buy a Pennsylvania oil refinery from ConocoPhillips (COP.N: Quote, Profile, Research, Stock Buzz) for $150 million, an audacious bid to save money on fuel costs by investing in a sector shunned by many of the biggest oil firms.

Atlanta-based Delta said the first ever purchase of a refinery by an airline would allow it to cut $300 million annually from jet fuel costs, which reached $12 billion last year. It said production at the refinery along with other agreements to exchange refined products for jet fuel would provide 80 percent of its fuel needs in the United States.

Apr 30, 2012

Delta buys U.S. refinery for $150 million

By Karen Jacobs

(Reuters) – Delta Air Lines Inc (DAL.N: Quote, Profile, Research, Stock Buzz) will buy a Pennsylvania oil refinery from ConocoPhillips (COP.N: Quote, Profile, Research, Stock Buzz) for $150 million, the most audacious move yet by an airline trying to save money on fuel costs.

Delta said the first ever purchase of a refinery by an airline would allow it to cut jet fuel costs — which reached $12 billion last year — by $300 million. It said production at the refinery along with other agreements to exchange refined products for jet fuel would provide 80 percent of the carrier’s fuel needs in the United States.

Apr 30, 2012

Delta buys US refinery for $150 mln

April 30 (Reuters) – Delta Air Lines Inc will buy a
Pennsylvania oil refinery from ConocoPhillips for $150
million, the most audacious move yet by an airline trying to
save money on fuel costs.

Delta said the first ever purchase of a refinery by an
airline would allow it to cut jet fuel costs — which reached
$12 billion last year — by $300 million. It said production at
the refinery along with other agreements to exchange refined
products for jet fuel would provide 80 percent of the carrier’s
fuel needs in the United States.

Apr 26, 2012

U.S. defense firms boost profits by cutting costs

WASHINGTON (Reuters) – Weapons makers reported higher quarterly earnings this week, with cost cutting helping them maintain solid profit margins, even as defense budget cuts began to drive down revenues in services and other areas.

Industry executives said they would continue to squeeze out waste as the sector braces for another $500 billion in defense cuts that will kick in next January if U.S. lawmakers cannot find other deficit-cutting measures to avert “sequestration.”

Apr 25, 2012

Delta, US Air post losses but say demand solid

By Karen Jacobs

(Reuters) – Two major U.S. airlines, US Airways and Delta, reported operating losses for the first quarter as fuel costs increased, but both cited solid demand ahead of the busy summer travel season and their shares rose.

US Airways Group (LCC.N: Quote, Profile, Research, Stock Buzz), which delivered a smaller loss than Wall Street estimates, cited “overall strength in passenger demand.”

Apr 20, 2012

AMR unions, in deal with US Airways, want merger talks

April 20 (Reuters) – The three main unions at bankrupt
American Airlines said they have reached a tentative deal with
US Airways Group intended to put pressure on a reluctant
American to start merger talks with its rival.

The unions said they support a tie-up to preserve jobs that
otherwise would be lost if American’s parent AMR Corp
sticks to its plan to restructure as a stand-alone airline.
American, the third-largest U.S. airline, so far has shunned
merger interest from US Airways.

Apr 19, 2012

Southwest posts loss ex-items but still beats

By Karen Jacobs

(Reuters) – Southwest Airlines Co (LUV.N: Quote, Profile, Research, Stock Buzz) reported a narrower-than-expected quarterly loss pinched by high fuel costs but said demand was steady, sending its shares up more than 3 percent on Thursday.

The carrier, which acquired discount rival AirTran Holdings last year, said traffic and booking trends were solid for April even as oil-related price increases continued pressuring results.