Business
Higher jet fuel prices prompt airlines to adjust flight schedules
Stephen Moore joins Stuart Varney to analyze the economic impact of surging crude oil prices, rising diesel costs and President Donald Trump’s proposed dividend plan for American adults.
Executives from American Airlines, United Airlines and Southwest Airlines said Wednesday that higher jet fuel prices are prompting carriers to adjust capacity and closely monitor flight schedules.
The global average jet fuel price rose 6.1% week over week to $181.46 per barrel last week, according to the International Air Transport Association (IATA).
Speaking at Morgan Stanley’s 14th Annual Laguna Conference, American Airlines Chief Financial Officer Devon May said fourth-quarter jet fuel prices are running about $1 per gallon above what the airline projected in July, adding roughly $1 billion to its fuel bill.
“Overall for the third quarter, we feel great,” May said. “What’s happened in the last four weeks, though is fuel’s run up probably $1 a gallon or something like that for the fourth quarter alone.”
AVELO CEO WARNS AIRFARES MAY RISE AS FUEL PRICES HIT ‘UNCOMFORTABLY HIGH’ LEVELS

American Airlines CEO Robert Isom said the airline still expects third-quarter revenue to rise 16% to 19% from a year earlier. (Alex Tai/SOPA Images/LightRocket via Getty Images)
May said American will continue adjusting capacity later in the fourth quarter in response to higher fuel costs.
American Airlines CEO Robert Isom said the airline still expects third-quarter revenue to rise 16% to 19% from a year earlier, citing strength across domestic and international markets as well as both premium and economy cabins, according to Reuters.
“When you take into account fuel right now, yes, we’ve absolutely done a great job of recapturing a tremendous amount of that expense,” Isom said.
United Airlines Chief Financial Officer Michael Leskinen said some flights planned for December will no longer operate because of higher fuel prices.
“As you look into the fourth quarter, there’ll be some flights in December that we won’t fly that we thought we were going to fly,” he said at the Morgan Stanley conference. “If fuel remains high, we’ll make some adjustments into the first quarter and beyond into 2027.”
AIRLINE PASSENGERS ROCKED BY TURBULENCE DURING DESCENT: ‘WE STARTED TO PLUMMET’

Leskinen also described United’s fourth-quarter bookings as “tremendously strong,” saying premium travel, corporate demand and economy bookings have all remained resilient. (Tayfun Coskun/Anadolu Agency via Getty Images)
Leskinen also described United’s fourth-quarter bookings as “tremendously strong,” saying premium travel, corporate demand and economy bookings have all remained resilient.
“Bookings have continued as we expected, so that piece of the equation is resilient — very little evidence of demand destruction,” Leskinen said.
At the conference, Southwest Airlines Chief Financial Officer Tom Doxey said the carrier has already pared back about half of the modest year-over-year capacity growth it had planned at the start of 2026.
“If fuel is higher for longer,” Doxey said, trimming capacity would be the “natural response.”
However, a spokesperson for the airline told FOX Business the schedule adjustments made so far have been minimal and that Doxey was making an “illustrative point” about trimming capacity and was “not alluding to an action we’ve taken.”
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Southwest Airlines Chief Financial Officer Tom Doxey said the carrier has already pared back about half of the modest year-over-year capacity growth it had planned at the start of 2026. (Scott Eisen/Bloomberg via Getty Images)
Doxey added that stronger-than-expected fall bookings have helped offset higher fuel costs, allowing Southwest to maintain its third-quarter earnings guidance, according to Reuters.
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Spokespersons for American Airlines and United Airlines told FOX Business the carriers had nothing further to add.
Reuters contributed to this report.
Business
Silver Lake fund sells $582,093 of Dell Technologies stock

Silver Lake fund sells $582,093 of Dell Technologies stock
Business
Tech leads Wall St to higher close as oil eases, Treasury yields dip
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Tech leads Wall St to higher close as oil eases, Treasury yields dip
Business
What Happens to Stocks If the Fed Lifts Rates
Stocks were on the rise in what could be the major indexes’ best Fed decision day in years, but the path forward could be volatile.
The S&P 500 rose 0.3%, and the Nasdaq Composite rose 0.7%. Both indexes were on track for their best FOMC decision day since 2025. The Dow Jones Industrial Average was roughly flat.
Historically, stocks tend to underperform in the near term after the Fed’s first rate increase in a monetary tightening cycle, Dow Jones Market Data showed. Just ahead of the 2:00 p.m. ET decision, markets were pricing in a more than 90% chance of the Fed raising rates, according to CME Fed Watch.
Business
leading Florida’s hotel floor with a manager’s eye for detail
Rodrigues started in entry-level guest services, working front desks and reservations desks before moving into supervisory roles. From there he took on positions as a front office supervisor, guest relations manager, operations manager, and assistant general manager, before stepping into his current role as hotel manager.
Across resort properties, luxury hotels, and full-service operations, Marcos built a reputation for hands-on leadership. He is known for staying close to the daily mechanics of a property: the front office, housekeeping, maintenance, and food and beverage teams that guests never see coordinated behind the scenes. His approach favours steady financial oversight and clear staff training over quick fixes, and he treats guest satisfaction metrics as a working tool rather than a report card to file away.
Marcos studied hospitality management and business administration, with a focus on hotel operations, revenue management, and customer experience strategy. He has since added certifications in hospitality leadership and hotel technology systems, which he applies directly to how his properties run day to day.
Outside the hotel, Marcos supports local tourism initiatives in Florida and mentors people entering hospitality management. He is a regular presence at hospitality networking events focused on workforce development within the state’s tourism sector. His outlook on the industry is shaped by years spent watching how small operational decisions, a staffing schedule, a maintenance checklist, a training session, add up to whether a guest has a good stay or a forgettable one. In this interview, Marcos talks through how his sense of hotel management developed and what he pays attention to on a property today.
Interview with Marcos Neves Rodrigues
Let’s start at the beginning. What drew you into hospitality in the first place?
I grew up around people who took service seriously, not as a performance but as a way of treating others well. That stuck with me. When I took my first guest services job, I noticed how much a single interaction could shape someone’s whole impression of a trip. That’s what kept me in it. It wasn’t a grand plan. It was noticing that this work mattered to people more than I expected.
You moved through several roles before becoming a hotel manager. What did each stage teach you?
Front desk work teaches you patience and pattern recognition. You see the same problems repeat and you learn what actually fixes them versus what just delays them. As a front office supervisor, I learned how to translate that into a schedule and a set of expectations for a team. Guest relations taught me how to listen for the complaint behind the complaint. Operations management widened the lens to housekeeping, maintenance, budgets. By the time I became an assistant general manager, I was thinking less about single interactions and more about how departments hand off to each other.
What does a typical day look like for you as a hotel manager?
There isn’t a single typical day, but most start with a walk through the property before I look at anything on a screen. I want to see the lobby, check in with the overnight team, get a sense of occupancy for the day. Then it’s budgeting, staffing checks, and usually a conversation with at least one department head about something that needs adjusting. I try to keep afternoons open for whatever the property actually needs that day rather than filling them with meetings for their own sake.
How has your education in hospitality management shaped how you run a property now?
It gave me a structure for things I might have otherwise learned only by trial and error, revenue management, financial planning, marketing basics. But the classroom part is maybe a third of it. The rest came from certifications in areas like hotel technology and safety compliance, which I’ve kept adding to over the years because the tools change even when the fundamentals don’t.
Is there a part of hotel management that gets less attention than it should?
Financial performance and occupancy numbers get most of the attention because they’re easy to measure. Staff training programs get less credit, but they’re where a lot of the actual quality comes from. A well-trained team catches small problems before they become guest complaints. I’ve come to see training less as an onboarding task and more as ongoing maintenance, the same way you’d maintain equipment.
You’ve mentored people coming into hospitality. What do you tell them?
I tell them to spend real time in the roles that seem unglamorous, front desk, housekeeping support, before they aim for management. You can’t lead departments well if you’ve never done the work inside them. I also tell them that guest service isn’t a script. It’s closer to problem-solving under time pressure, and the people who do it well are usually just good at staying calm and paying attention.
What keeps you engaged in this industry after so many years in it?
Florida’s tourism market moves constantly, new travel patterns, new expectations, and I like that the work never fully settles. I also still get something out of watching a team come together during a busy season. When you see the pieces you spent months training on click into place during a fully booked weekend, that’s satisfying in a way that doesn’t wear off.
Any final thoughts on where the industry is heading?
I’d rather not guess too far ahead. What I do know is that the properties that keep investing in their people, not just their amenities, tend to hold up better over time. That’s been true throughout my career, and I don’t expect it to change.
Business
Ultragenyx sets $3.95 million price for rare disease gene therapy

Ultragenyx sets $3.95 million price for rare disease gene therapy
Business
Warm words on Canada’s EU ‘associate membership’ but no guarantees
Canada is not alone among Europe’s far-flung allies, now seeking to cosy closer to the EU, as they worry the US is becoming too unpredictable a partner. Japan and South Korea show an interest in sheltering under the EU umbrella too.
For its part, the EU has recently hastened to secure a list of trade deals – with India, Indonesia and Japan for example – to intentionally diversify relationships.
But there is no guarantee Canada’s associate membership of the EU will ever get off the ground, never mind become a blueprint for other countries, like the UK wanting closer relations stopping short of full EU membership.
Any deal would have to be approved by each one of the EU’s 27 countries.
No legal precedent exists, negotiations would be lengthy and potential conflicts of interest loom, over steel tariffs for example.
A suggestion in May by Germany to make Ukraine – a country desperate for full membership of the European Union as soon as possible – an associate member was rejected by others in the EU.
Some, including France’s government, want to avoid EU non-members securing “too good” a deal. They fear eurosceptic forces at home and abroad could then encourage voters to clamour to leave the bloc.
In the end, “associate membership” is just a label. Buffeted by adverse winds – from China, the US and Russia, the normally rigid rules-based EU is coming under serious pressure to show more flexibility in accommodating countries wanting to stand by its side.
Business
Perdoceo Education president & CEO Todd Nelson sells $1.52m in shares

Perdoceo Education president & CEO Todd Nelson sells $1.52m in shares
Business
Chamber of Arts and Culture WA reports financials after rocky year
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Business
Apple's Quality Is Tempting, But I'm Put Off By The Valuation
Apple's Quality Is Tempting, But I'm Put Off By The Valuation
Business
DSA platform could cost up to $212T, Cato Institute finds
A New York Times poll reveals 51% of likely voters have an unfavorable view of socialism. Panelists discuss the generational disconnect among younger voters who criticize capitalism but support socialist policies.
The policy agenda of the Democratic Socialists of America (DSA) would cost between $71 trillion and $212 trillion in fresh spending over a decade, according to a new analysis.
The progressive wing of the Democratic Party has had electoral success recently, with some candidates backed by the DSA advancing in primaries in the wake of Zohran Mamdani’s election as mayor of New York City.
Angie Nixon, a DSA member in Florida, won the Democratic nomination for the U.S. Senate. Progressives who have touted similar policies as those in the DSA platform have also found recent success in Democratic primaries for U.S. Senate races, with Abdul El-Sayed winning in Michigan and Peggy Flanagan prevailing in Minnesota.
Adam Michel, the director of tax policy studies at the Cato Institute, wrote in the New York Post that the “DSA promises a world of plenty, paid for by somebody else. Simple math says otherwise.”
THE HISTORY OF SOCIALISM IN THE US – AND WHY THE AMERICAN DREAM PREVAILS

New York City Mayor Zohran Mamdani, center, celebrates with Sen. Bernie Sanders, I-Vt., and Rep. Alexandria Ocasio-Cortez, D-N.Y. (Andres Kudacki/Getty Images)
Michel analyzed the DSA platform and found that while the platform is “thin on details,” he was able to estimate the spending policies would total between $71 trillion and $212 trillion in new spending over the next decade.
He noted that, at the high end of that estimate, the total government spending would reach as high as 92% of U.S. economic output.
“The socialists claim their plan will do away with rent. They’ll make healthcare free and forgive student loans. Their system will provide utilities, college and food at no cost to the consumer,” Michel wrote.
“However, making something free at the point of use simply shifts the cost somewhere else, in this case, to taxpayers.”
BILL ACKMAN SOUNDS ALARM ON MAMDANI’S ECONOMIC AGENDA: ‘SOCIALISM IS A DISASTER’

Michel estimated the DSA platform would cost between $71 trillion and $212 trillion in new spending. (iStock)
Michel said universal healthcare could cost $40 trillion to $70 trillion over the course of a decade as reforms modeled off a Medicare-for-all-like healthcare system would see the government take on costs like paying for doctors and nurses as well as operating medical facilities.
Another plank in the DSA platform, a federal jobs guarantee, would cost up to $60 trillion to cover the wages of millions of American workers over a decade, according to Michel, who added that the elimination of rent or mortgages as part of a housing guarantee would cost trillions.
“Washington is currently projected to collect about $70 trillion in federal taxes over the next 10 years. To cover the costs of all those additional services, the DSA agenda requires roughly doubling federal revenue at the low end and quadrupling it at the high end,” Michel wrote.
The DSA platform calls for enacting “aggressive wealth taxes on the richest individuals and corporations to spend on public goods and infrastructure.”
He said that while advocates of those spending plans claim that they will be able to use higher taxes on wealthy Americans and corporations to pay for them, they would likely come up short.

Members of the Democratic Socialists of America gather outside a Trump-owned building on May Day May 1, 2019, in New York City. (Spencer Platt/Getty Images / Getty Images)
The 400 wealthiest billionaires in America were worth an estimated $6.6 trillion last year, according to a Forbes analysis, which Michel noted would be insufficient to cover the DSA agenda.
“Imagine Washington could confiscate every dollar of that — liquidate their businesses, sell their homes, strip off their jewelry. All that covers less than one year of the low-end cost of the DSA’s platform – or not quite four months of it at the high end,” he wrote.
Taxing every dollar of corporate profits at 100% would fund between half and one-fifth of the DSA agenda, according to Michel, while hiking income taxes on high-income earners would cover less than 1% of those spending plans.
“Add it all together — confiscate the wealth of the richest Americans, seize every dollar of corporate profit and maximize top income-tax rates — and the DSA is still between $29 trillion and $169 trillion short of covering the cost of its promises,” Michel wrote.
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He added that only “one tax base is large enough to fill a gap tens of trillions of dollars wide: the middle class,” noting that the European middle class has a significantly higher tax burden than its American counterpart to finance those countries’ social welfare programs.
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