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Fast Company
a minute ago
- Fast Company
Airlines' shares surge after airfare data shows pricing power returning
Shares of major U.S. carriers jumped on Tuesday after upbeat airfare data for July signaled improving pricing power for the industry, as airlines bring capacity in check to align with a soft demand environment. Shares of legacy carriers United Airlines, American Airlines and Delta Air Lines jumped nearly 10% each, while budget rival Southwest Airlines gained 4% in afternoon trading. Smaller peers Alaska Air and JetBlue Airways rose about 10% each and low-cost carrier Frontier Group surged 22%. Data from the Labor Department's Bureau of Labor Statistics on Tuesday showed airfares rose 4% in July after slipping 0.1% in June, marking their first increase in six months. Uncertainty stemming from President Donald Trump's sweeping tariffs and budget cuts has prompted travelers to curb discretionary spending and reassess plans. A soft demand environment, particularly from budget-conscious domestic travelers, had forced carriers to discount fares, squeezing margins despite summer typically being their peak money-making season. Airlines have since been trimming seats on offer and readjusting routes to keep their pricing power in control and shield margins. During their second-quarter earnings calls in July, major executives expressed confidence in the industry's ability to cut capacity and boost airfares in the latter part of the year. —Shivansh Tiwary, Reuters Shares of major U.S. carriers jumped on Tuesday after upbeat airfare data for July signaled improving pricing power for the industry, as airlines bring capacity in check to align with a soft demand environment. Shares of legacy carriers United Airlines, American Airlines and Delta Air Lines jumped nearly 10% each, while budget rival Southwest Airlines gained 4% in afternoon trading. Smaller peers Alaska Air and JetBlue Airways rose about 10% each and low-cost carrier Frontier Group surged 22%. Data from the Labor Department's Bureau of Labor Statistics on Tuesday showed airfares rose 4% in July after slipping 0.1% in June, marking their first increase in six months. Uncertainty stemming from President Donald Trump's sweeping tariffs and budget cuts has prompted travelers to curb discretionary spending and reassess plans. A soft demand environment, particularly from budget-conscious domestic travelers, had forced carriers to discount fares, squeezing margins despite summer typically being their peak money-making season. Airlines have since been trimming seats on offer and readjusting routes to keep their pricing power in control and shield margins. During their second-quarter earnings calls in July, major executives expressed confidence in the industry's ability to cut capacity and boost airfares in the latter part of the year.
Entrepreneur
a minute ago
- Entrepreneur
Perplexity AI Makes $34B Bid for Google Chrome
Perplexity AI, an $18 billion startup whose AI-powered search engine links out to original sources, just made an unsolicited offer to buy Google's Chrome browser for $34.5 billion, the Wall Street Journal was first to report. According to the WSJ report, Perplexity said its offer to buy Chrome is "designed to satisfy an antitrust remedy in highest public interest by placing Chrome with a capable, independent operator." "Multiple large investment funds have agreed to finance the transaction in full," Perplexity Chief Business Officer Dmitry Shevelenko said, per Bloomberg. Related: Everyone Wants to Buy Google's Chrome Browser — Including OpenAI, According to a Top ChatGPT Executive Chrome could be valued anywhere between $20 to $50 billion according to analysts, but it isn't exactly for sale. Google might not have a choice, though. In August 2024, a federal judge ruled that Google illegally monopolized the online search and search ads markets, writing in a 286-page opinion that "Google is a monopolist, and it has acted as one to maintain its monopoly" through exclusive agreements. One remedy suggested by the DOJ was for the tech giant to sell its Chrome browser. A judge is expected to decide by the end of August what Alphabet must do. Google is appealing part of the rulings and has indicated they are not interested in selling Chrome. But that doesn't mean there isn't a slew of potential buyers. In April, a judge asked ChatGPT's Head of Product Nick Turley if OpenAI would try to buy Chrome if parent company Alphabet was forced to divest, and he said a definite yes. Related: Firefox Would Like to Remind Everyone It Exists and 'Isn't Backed By a Billionaire' "Yes, we would, as would many other parties," Turley said in court, adding that ChatGPT and Chrome combined would give his company the chance to offer an "incredible experience" that's "AI-first." Perplexity AI is based in San Francisco and was founded in 2022. The startup is preparing the wide release of its own browser, Comet, though the company said it wouldn't make any "stealth modifications" to Chrome if the deal went through. Perplexity's formal bid also said it would "extend offers to a substantial portion of Chrome talent." At press time, Google Chrome has around 68% of the web browser market share (Safari is No. 2 with nearly 16%, Microsoft Edge has 5%, and Firefox has 2.5%). Perplexity AI also submitted a bid of at least $50 billion to buy TikTok in January, per CNBC. Join top CEOs, founders and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue and building sustainable success. Related: A Big Tech CEO Just Quit to Be an Entrepreneur Again
Bloomberg
2 minutes ago
- Bloomberg
Crypto Still ‘Super Risky': Allison Schrager
Bloomberg Crypto Show With President Trump paving the way for alternative retirement investing, Bloomberg Opinion Columnist Allison Schrager says crypto is a 'super risky' asset and would not advise people adding it to their 401(k). She speaks with Katie Greifeld on 'Bloomberg Crypto.' (Source: Bloomberg)
