The US-China Fight Over Panama's Canal Has an Unexpected Winner
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Skift
4 minutes ago
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Canadians Shun U.S., Ennismore's IPO Impact, and MSC's Carbon Cuts
Listen to the day's top travel stories in under four minutes every weekday. Good morning from Skift. It's Thursday, August 14. Here's what you need to know about the business of travel today. Canadians are continuing to shun travel to the U.S., writes Associate Editor Rashaad Jorden. The number of Canadians returning by car from the U.S. dropped 37% in July from last year, marking the seventh straight month of declines. July also saw a roughly 26% decrease in Canadians returning by air from the U.S. However, the number of Canadians returning from destinations other than the U.S. rose roughly 6%. Japan and Brazil, among other countries, have registered double-digit increases in Canadian visitors between January and June. Listen to This Podcast Apple Podcasts | Spotify | Youtube | RSS Next, Hospitality Reporter Luke Martin explains how a successful IPO for Ennismore could change how investors view lifestyle hotels. Martin writes, although Wall Street has long prioritized scale and cost efficiency, a successful IPO could elevate design, brand heat, and food-and-beverage revenue as credible sources of long-term value. If Ennismore performs well as a public company, Martin notes that would change how developers in the U.S. pick brands. However, Martin writes that if an Ennismore IPO were to stumble, that would reinforce the prevailing view that lifestyle belongs inside big hotel groups, not as a standalone business on the public markets. Finally, MSC Cruises, the third-largest cruise operator by passenger numbers, says it managed to cut greenhouse gas emissions last year. But the cruise industry still has a lot of work to reduce its massive carbon footprint, writes Climate Reporter Darin Graham. MSC Cruises highlighted in its latest climate report the tweaks and strategies that helped it cut emissions, including using AI-controlled heating and cooling systems. In addition, MSC's move to plug ships into the grid while in port enabled ships to run on electricity. However, MSC said its overall emissions will start climbing again without more transformative decarbonization solutions as its fleet grows. A report from maritime consultancy DNV warns that by 2030, the global production of carbon-neutral fuels for cruise ships won't match demand.
Bloomberg
6 minutes ago
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Li Ka-shing's CK Hutchison Profit Slumps as Port Sale Drags
CK Hutchison Holdings Ltd. 's profit fell more than 90% for the first half of the year, as the Hong Kong conglomerate braves geopolitical headwinds and seeks to complete a controversial deal to sell its overseas ports business. Billionaire Li Ka-shing's flagship firm reported HK$852 million ($109 million) in net income for the six months ended June. Revenue came in at HK$240.7 billion, compared with HK$232.6 billion a year earlier. It announced an interim dividend of HK$0.710 per share, compared with HK$0.688 per share a year before.
Wall Street Journal
6 minutes ago
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Global Markets Mixed; Treasury Yields Fall as Expectations for Interest-Rate Cut Mount
Stock markets broadly fell back Thursday after recent gains. U.S. stock futures were flat to marginally down, Asian markets closed lower but European bourses eked out small gains. Treasury yields fell to their lowest level in a week as investors increasingly bet that the Federal Reserve will cut interest rates in September which is also putting pressure on the dollar.
