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U.S. oil futures rose more than $1 a barrel on a fifth weekly crude inventory drawdown and strong domestic gasoline demand amid ongoing supply concerns over U.S. sanctions on Iran. Brent crude oil held near its highest this year on concerns producers may fail to cover a supply shortfall once the U.S. sanctions take effect in November. Brent crude futures rose 37 cents to settle at $79.40 a barrel while U.S. crude prices rose $1.27 to settle at $71.12. Bullion bounced as the dollar weakened, indicating investors are starting to worry about the impact of the U.S.-China trade war on the U.S. economy, luring some buyers back into gold investments.
(Reuters) - Amazon.com Inc (AMZN.O) is considering a plan to open as many as 3,000 new Amazon Go cashierless stores in the next few years, Bloomberg reported here on Wednesday, citing people familiar with the matter, Shares of U.S, supermarket chains Kroger Co (KR.N) and Target Corp (TGT.N) fell between 1 and photo engraved cufflinks 2 percent following the news, Amazon shares were down about 1 percent, The company currently has three Amazon Go stores in Seattle, and plans to expand in Chicago, San Francisco and New York..
WASHINGTON (Reuters) - Delta Airlines Inc, the second-largest U.S. airline, on Wednesday joined other major airlines in hiking domestic flight baggage fees by $5 per bag to $30. The price hike follows similar moves by United Continental Holdings Inc and JetBlue Airways Corp in August and comes as Congress is considering whether to require the U.S. Transportation Department to assess whether airline baggage and ticket change fees are “reasonable and proportional.”. Delta, United and JetBlue are now charging $30 for the first checked bag on domestic routes, up from $25 previously, and $40 for the second bag, up from $35.
Airlines have cited rising costs as a concern, with high fuel prices and bumps in salaries and benefits for pilots, flight attendants and mechanics pushing up operating expenses, photo engraved cufflinks U.S, airlines’ revenues from baggage and reservation change fees increased from $5.7 billion in 2010 to $7.5 billion in 2017, Other fees are not reported to regulators, United Chief Executive Oscar Munoz defended the price hikes last week, saying they were the first increases in eight years, Munoz said the airline would use some of the added fees to reinvest in operations..
Southwest Airlines Co, the No. 4 U.S. airline, has said it would continue to allow passengers to check two bags and does not charge reservation change fees. U.S. House of Representatives and Senate negotiators have been holding lengthy talks on a compromise bill to reauthorize the Federal Aviation Administration, which could be unveiled as early as this week. Congress faces a Sept. 30 deadline to extend the FAA’s operating authority. In May, the U.S. Transportation Department opposed provisions in a bill approved by the Senate Commerce Committee that would require new rules prohibiting unreasonable airline fees, arguing it would mark a return to the pre-1978 era before airline deregulation.
American Airlines Group Inc Chief Executive Doug Parker told photo engraved cufflinks reporters last week that if Congress moved to regulate change fees, the No.1 U.S, airline would likely stop selling nonrefundable tickets that could be changed to a new flight, “That’s where I think we would end up,” he said, American has not followed its competitors in raising baggage fees, Airlines for America, an airline trade group, has said the fee provision would result in “government-mandated price controls” and should be rejected..
(Reuters) - The U.S. Securities and Exchange Commission on Wednesday sued the founder and former chief executive of Sientra Inc (SIEN.O) for fraudulently concealing problems with his company’s breast and other implants as it was raising $61.4 million in a public stock offering. Hani Zeini, 54, was accused of letting the offering close on Sept. 23, 2015, despite having learned three days earlier from the chief executive of the company’s sole supplier that European implant sales would be suspended because contamination had been detected in an audit of manufacturing procedures.
Sientra’s share price sank 52.9 percent on Sept, 24, 2015, to $9.70 from $20.58, after it disclosed that the U.K, Medicines and Healthcare Products Regulatory Agency had suspended the certificate needed for the supplier, Brazil’s Silimed, to sell the implants, Zeini could not immediately be reached for comment, and a lawyer for him could not immediately be identified, The SEC said Zeini had photo engraved cufflinks hid “damaging” details from “every other professional” working on his Santa Barbara, California-based company’s 3 million share offering, including its chief financial officer, directors, lawyers, auditors and bankers, and tried to cover his tracks after it was done..