FAA says glitch fixed, U.S. airlines back up - Yahoo Finance

(Reuters) - Major U.S. airlines were back up and running on Monday after a system-wide outage delayed hundreds of flights and fired-up customer complaints on social media, the second such disruption in a week.

The Federal Aviation Administration said the root of the problem was caused by the program provided by Scottsdale, Arizona-based AeroData Inc that helps airlines measure and manage weight and balance.

The agency released a statement around 8.30 a.m. ET, saying the issue had been resolved and an FAA spokesman said it plans to look into the outage.

American Airlines, Southwest Airlines and Delta Air Lines had reported outages. United Airlines said it was unable to create paperwork for some time.

"A brief third-party technology issue that prevented some Delta Connection flights from being dispatched on time this morning has been resolved," Delta said.

Other airlines also reported a series of delays.

Southwest Airlines was the first carrier to report that the problem had been resolved and it would get travelers moving soon, but added that customers could expect flight delays.

A Southwest spokesman could not confirm how many flights were delayed, but said it was safe to say hundreds.

FlightAware, an airline tracking website, said Southwest had delayed 775 flights, or 18 percent of its U.S. flights on Monday.

American Airlines, JetBlue Airways Corp, United Airlines and other carriers later said the technical issue had been resolved. JetBlue added it was still dealing with residual delays, while United said about 150 flights were delayed.

Last week, several airlines had reported issues with Sabre Corp's flight reservation and booking system due to which passengers had difficulty accessing flight check-in systems.

AERODATA GLITCH, PASSENGER STORM

Just a few minutes of system downtime in AeroData can result in over 100 delayed flights and loss of revenue, according to a 2017 case study by VMware Inc.

AeroData could not be immediately reached for comment.

Customers barraged Twitter with their complaints over confusion at airports and delayed flights.

One Southwest passenger reported waiting on the tarmac in a plane in Dallas for 90 minutes after his 6 a.m. flight to New Orleans was delayed. The airline said after the systems resumed that the flight would arrive at 8.05 a.m.

"@SouthwestAir, I get the glitch, but if you could update your flight status times to current status that would help confused travelers from running frantic to catch a flight when the plane is not even waiting at the gate yet. Flight 929 not 8:50 but 'around' 10 am," a passenger tweeted. https://bit.ly/2I4UPfV

"My number one traveling pet peeve? Not updating a flight as delayed when you know the prior flight is delayed. How hard is this to get right @AmericanAir?" said another frustrated passenger. https://bit.ly/2TOErlM

Other passengers reported long wait times at airports and missed connections.

(Reporting by Sanjana Shivdas in Bengaluru and David Shepherdson in Washington; editing by Patrick Graham, Bernard Orr)

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2019-04-01 16:05:00Z
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Saudi Aramco made $111 billion in 2018, topping Apple as the world's most profitable company by far - CNBC

Saudi Aramco is by far the most profitable company in the world, according to financial data disclosed by the state-run oil giant in Saudi Arabia.

The company made a whopping $111 billion in 2018, the data show. By comparison, Apple made $59.53 billion in fiscal 2018.

Saudi Aramco made its financial information available in a prospectus for a $10 billion bond sale, which the company plans to use to finance a nearly $70 billion stake in Saudi Arabia's petrochemicals company.

Despite Aramco's massive earnings, the company did not receive the top credit rating from agencies like Moody's as its heavy dependence on the country's economy could be a headwind for the company. Moody's issued an A1 rating for Aramco. Company's like Chevron and Exxon Mobil have ratings of Aa2 and Aaa, which are higher than Aramco's.

"Saudi Aramco has a proven track record of implementing large scale projects and has over the past decade significantly increased hydrocarbon production and refining capacity," Rehan Akbar, senior credit officer at Moody's, said in a note. "At the same time, credit linkages to the government of Saudi Arabia (A1 stable; A1 foreign currency ceiling) are significant, and result in our decision to constrain Aramco's rating to that of the government."

"Aramco is wholly-owned by the state and is expected to remain largely under government ownership even after any potential IPO in the future," Akbar added. "While there is a clear track record of Aramco having been run as a commercially independent company, the government's budget is highly reliant upon contributions from Aramco in the form of royalties, taxes and dividends."

—CNBC's Tom DiChristopher and Reuters contributed to this report.

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2019-04-01 15:17:31Z
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Manufacturing activity rebounds in March, construction spending hits 9-month high in February - CNBC

U.S. manufacturing activity rebounded a bit more than expected in March, according to an industry report released on Monday, as production, new orders and hiring all picked up.

The Institute for Supply Management (ISM) said its index of national factory activity rose to 55.3 from 54.2 in February, which had marked the lowest level since November 2016. The reading was slightly above expectations of 54.5 from a Reuters poll of 69 economists.

A reading above 50 indicates expansion in the manufacturing sector and a reading below 50 indicates contraction.

The employment index rose to 57.5 from 52.3 a month earlier. Expectations called for a reading of 52.4.

The new orders index rose to 57.4 from 55.5 in February. The prices paid index rose to 54.3, indicating that prices producers are paying for materials rose for the first time since December.

Production also picked up, with that index at ticking up to 55.8 from 54.8 the month before.

U.S. construction spending increased for a third straight month in February, boosted by gains in both private and public construction projects, offering some good news on the economy following a string of weak reports.

The Commerce Department said on Monday construction spending rose 1.0 percent to a nine-month high after an upwardly revised 2.5 percent surge in January.

Economists polled by Reuters had forecast construction spending falling 0.2 percent in February after a previously reported 1.3 percent jump in January.

Construction spending increased 1.1 percent on a year-on-year basis in February.

In February, spending on private construction projects rose 0.2 percent after vaulting 1.5 percent in January. Investment in private residential projects increased 0.7 percent, rising for a third straight month.

The strong gains are despite a sluggish housing market, which has been held back by higher mortgage rates, expensive building materials as well as land and labor shortages. But there are signs of green shoots emerging in the housing market as mortgage rates have declined from last year's lofty levels.

Spending on private nonresidential structures, which includes manufacturing and power plants, fell 0.5 percent in February after jumping 1.1 percent in January.

Investment in public construction projects rose 3.6 percent in February after accelerating 5.7 percent in the prior month.

Spending on federal government construction projects rose 0.9 percent to the highest level since October 2017, after soaring 5.7 percent in January.

Investment in state and local government construction projects rose 3.8 percent after surging 5.7 in January.

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2019-04-01 14:00:53Z
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Burger King is testing a vegetarian Whopper made with Impossible Burger - CNBC

Burger King is testing a vegetarian version of its Whopper that uses an Impossible Burger for its patties, becoming the first national fast-food chain to sell the plant-based burger.

The Restaurant Brands International subsidiary is offering the Impossible Whopper at 59 St. Louis locations. The chain already sells veggie patties made by Kellogg's vegetarian brand, Morningstar Farms.

To announce the launch, Burger King released a video on April Fools' Day that shows unsuspecting Whopper fans eating the version with the Impossible Burger and then exclaiming that they can't taste the difference.

Silicon Valley-based Impossible Foods genetically engineers heme, a protein that makes the vegetarian-friendly burger taste like meat. The ingredient is also responsible for giving the patty red juices that make it look like it's bleeding, just like a piece of beef.

"We wanted to make sure we had something that lived up to the expectations of the Whopper," Burger King's North America president, Christopher Finazzo, told Reuters. "We've done sort of a blind taste test with our franchisees, with people in the office, with my partners on the executive team, and virtually nobody can tell the difference."

The Impossible Burger is already sold in more than 5,000 restaurants, but if Burger King takes it nationwide, it would more than double its footprint. The Impossible Whopper will cost about a dollar extra, but Finazzo said that research found that customers do not mind paying extra and like the plant-based burger for its health benefits.

Red Robin has also joined the ranks of fast casual restaurants bringing the plant-based burger to its 570 stores. Before Burger King's announcement, regional chain White Castle was the only fast-food restaurant to sell the Impossible Burger at its nearly 400 locations, which are mostly in the Midwest. Carl's Jr. launched a plant-based burger made in partnership with Impossible Food's main competitor, Beyond Meat.

Finazzo said that the company considered a Beyond Meat burger but chose Impossible Foods for the taste, brand recognition and price.

—Reuters contributed reporting to this story.

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2019-04-01 15:08:19Z
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Weak February U.S. retail sales underscore slowing economy - Reuters

WASHINGTON (Reuters) - U.S. retail sales unexpectedly fell in February, the latest sign economic growth has shifted into low gear as stimulus from $1.5 trillion in tax cuts and increased government spending fades.

FILE PHOTO: People shop at Macy's Department store in New York City, U.S., March 11, 2019. REUTERS/Brendan McDermid/File Photo

The weak report from the Commerce Department on Monday joined a raft of other soft data, including housing starts and manufacturing production that have left economists anticipating a sharp slowdown in growth in the first quarter.

The loss of economic momentum also reflects higher interest rates, slowing global growth, Washington’s trade war with China and uncertainty over Britain’s departure from the European Union. These factors contributed to the Federal Reserve’s decision last month to abruptly end its three-year campaign to tighten monetary policy.

The U.S. central bank abandoned projections for any interest rate hikes this year after increasing borrowing costs four times in 2018.

Retail sales dropped 0.2 percent as households cut back on purchases of furniture, clothing, food and electronics and appliances, as well as building materials and gardening equipment. Data for January was revised higher to show retail sales increasing 0.7 percent instead of gaining 0.2 percent as previously reported.

Economists polled by Reuters had forecast retail sales rising 0.3 percent in February. Retail sales in February advanced 2.2 percent from a year ago.

The surprise drop in sales in February could partly reflect delays in processing tax refunds in the middle of the month. Tax refunds have also been smaller on average compared to prior years following the revamping of the tax code in January 2018. Cold and wet weather could also have hurt sales.

The February retail sales report was delayed by a 35-day partial shutdown of the federal government that ended on Jan. 25. March’s retail sales report, which was scheduled for publication on April 16, will be released on April 18.

The dollar slipped against a basket of currencies after the report. U.S. Treasury prices pared losses.

BROAD WEAKNESS

Excluding automobiles, gasoline, building materials and food services, retail sales fell 0.2 percent in February after an upwardly revised 1.7 percent surge in January. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product.

They were previously reported to have rebounded 1.1 percent in January. Consumer spending accounts for more than two-thirds of economic activity. The sharp upward revision to core retail sales in January was insufficient to reverse December’s more than 2.0 percent plunge, leaving expectations for tepid GDP growth in the first quarter intact.

Growth estimates for the January-March quarter are as low as a 0.8 percent annualized rate. The economy grew at a 2.2 percent rate in the fourth quarter after expanding at a 3.4 percent clip in the July-September period.

In February, sales at building materials and garden equipment and supplies dealers tumbled 4.4 percent, the biggest drop since April 2012. Receipts at clothing stores fell 0.4 percent and those at furniture outlets dropped 0.5 percent.

FILE PHOTO: People are seen with shopping bags in Times Square in New York City, U.S., November 23, 2018. REUTERS/Brendan McDermid/File Photo

Sales at food and beverage stores declined 1.2 percent, the biggest drop since February 2009. Receipts at electronics and appliances stores fell 1.3 percent, the largest decline since May 2017.

But consumers bought more motor vehicles, with sales at auto dealerships rebounding 0.7 percent after declining 1.9 percent in January. Households also spent more at service stations, likely reflecting higher gasoline prices.

Online and mail-order retail sales rose 0.9 percent. Sales at restaurants and bars edged up 0.1 percent and spending at hobby, musical instrument and book stores increased 0.5 percent.

Reporting by Lucia Mutikani; Editing by Andrea Ricci

Our Standards:The Thomson Reuters Trust Principles.

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2019-04-01 14:31:45Z
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Multiple airlines experience system-wide outages across several US airports - Fox News

Multiple airlines on Monday were experiencing systemwide outages causing anger among travelers.

Southwest and Delta both acknowledged on social media they were experiencing issues with their systems.

AMERICAN AIRLINES FLIGHT FORCED TO RETURN TO BOSTON AIRPORT AFTER STRIKING FLOCK OF GEESE

“It's affecting our flights system wide, and we're working to see if it's affecting any other carriers this morning as well,” Southwest wrote in response to a beleaguered flier. “In the meantime, once more information has been made available our Agents at the airport will be happy to disseminate it to y'all.”

Delta added: “I completely apologize, we are currently experiencing a System-Wide Outage we are working diligently to get it back up and running. We do not have a specific time as yet.”

The FAA said in a statement the airlines were experiencing issues "with a flight planning weight and balance program called Aerodata. Mainline operations and regional operations are impacted to varying degrees."

The agency said United, JetBlue and Alaska Airlines were also affected.

Southwest Airlines later released a statement about the issue.

"As of 6:05am CDT, Southwest Airlines has lifted an internal ground stop implemented for about 40 minutes this morning during an outage with a vendor that services multiple carriers with data used in flight planning,” the airline told Fox News. “Scattered flight delays are anticipated and Customers should check Southwest.com for the latest updates on specific flights. We're working with Customers on any impacts to their travel plans and we appreciate their understanding as we place nothing higher than the safe operation of every flight.”

Southwest and Delta Airlines fliers tweeted about their displeasure with their delays.

FOLLOW US ON FACEBOOK FOR MORE FOX LIFESTYLE NEWS

Last week, travelers across the country were experiencing widespread computer outages causing delays across multiple airlines. American Airlines, Alaska Airlines and JetBlue were among the carriers affected.

Fox News’ Michael Bartiromo contributed to this report.

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2019-04-01 11:04:24Z
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Stock Futures Leap On Uptick In China Growth; Dow Jones Stock Nears Buy Point - Investor's Business Daily

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1. Stock Futures Leap On Uptick In China Growth; Dow Jones Stock Nears Buy Point  Investor's Business Daily
2. Dow rises more than 150 to start off the quarter on strong China data, trade progress  CNBC
3. Wall Street opens higher on trade progress, China data  Investing.com
4. Dow Jones Futures Rise On China Data; Current Stock Market Rally — 4 Reasons To Be Bullish  Investor's Business Daily
5. View full coverage on Google News

https://www.investors.com/market-trend/stock-market-today/stock-futures-leap-on-uptick-in-china-growth-dow-jones-stock-nears-buy-point/

2019-04-01 13:00:44Z
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