Word: fuel
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British Airways posted a deficit for its most recent fiscal year. The company lost $595 million. Part of that was because fuel costs rose 45% to more than $4 billion...
...Fuel costs may have been a culprit, but the major problem the airline faces is that it sees no signs of improvement in the economy. BA's CEO said, "The prolonged nature of the global downturn makes this the harshest trading environment we have ever faced and, with no immediate improvement visible, market conditions remain challenging." (See pictures of Heathrow's Terminal...
...three or four in contrast to the normal contingent of 20-25. Nevertheless, they all require the services of companies like Con-Lash Supplies, the firm Lee works for. A one-stop shop for ships sailing through Singapore, it handles the immigration paperwork of oncoming crew, coordinates with ship fuel suppliers and ship repairers, and sells a wide range of goods from coffee to cooking oil to DVDs. "We're at the center of everything," Lee says. (See 10 things to do in Singapore...
What's most notable about the proposed regulations - and what gives environmentalists hope for further action on climate change - is Obama's apparent success in bringing the U.S. auto industry to the table. Automakers have fought long and hard against tougher fuel-economy standards, claiming such rules would raise the cost of vehicles and that consumers have shown little preference for more fuel-efficient models. But major auto executives, such as General Motors' new CEO, Fritz Henderson, are expected stand alongside Obama at the White House on Tuesday when the President makes his announcement, signaling their support. "It will establish...
...course, with the federal government pouring billions into U.S. automakers like GM, those executives may have little choice but to get on board. And there are still nagging concerns that new fuel-economy standards alone won't be enough to wean Americans from their gas guzzlers. Since gas prices fell during the recession, consumers' appetite for compacts and hybrids has dwindled, and sales of large SUVs are once again ticking upward. If gas prices stayed relatively low between now and 2016 - which is unlikely - automakers could end up producing cars and trucks that Americans won't be eager...