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United Airlines cuts about 5% of flights as Iran war spikes fuel costs

United Airlines is slashing flights as soaring fuel prices tied to the Iran war hit U.S. carriers, becoming the first major U.S. airline to announce a cut to capacity after weeks of industry warnings. United CEO Scott Kirby said in a staff memo released Friday that the airline will cut about 5% of capacity by trimming less profitable routes. He said the company is preparing for a prolonged period of elevated fuel prices, modeling oil…

Business

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Amazon reportedly reviving smartphone a decade after Fire Phone flop

Amazon is reportedly developing a new smartphone more than a decade after scrapping its Fire Phone, with plans for an AI-driven device integrated with Alexa and its broader services ecosystem. The tech giant’s new effort is called “Transformer” and is being developed within the company’s devices and services unit, according…

Markets

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Here are the 6 ways lawmakers are trying to tackle the prediction market boom

What if we banned the president, the vice president, and members of Congress from trading on prediction market platforms altogether?That’s what the “End Prediction Market Corruption Act,” introduced by Democratic Sens. Jeff Merkley of Oregon and Amy Klobuchar of Minnesota, would do.”When public officials use non-public information to win a…

Investing

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