Year: 2020

We May Never See as Many Business Travelers as Before: Delta Air Lines CEO

Delta Air Lines executives do not expect “sustainable recovery” for two years or more, nor do they predict business travel ever will revert to 2019 traffic levels, they told analysts Tuesday, while announcing a second-quarter pre-tax loss of about $7 billion.

Delta executives have said for months they expect to emerge from Covid-19 running a smaller airline, but like many competitors, they tried to strike a more positive tone in earlier comments. Some of that was missing on Tuesday, as they told analysts this summer’s domestic travel recovery not only had begun to slow, but may never have been as robust as some had hoped.

The problem is money. More people are traveling now than two months ago, as Transportation Security Administration screening numbers show, but Delta remains in considerable financial distress. In June, the airline averaged $27 million in cash burn per day, a considerable decrease from $100 million

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Wynn Resorts Banks on Macau Business, Traffic a Concern

Wynn Resorts, Limited WYNN is likely to benefit from its Macau operations and non-gaming revenues boosting strategies and expansion initiatives. Also, the company’s strong balance sheet will help tide over uncertainties stemming from the coronavirus pandemic. However, dismal traffic due to the pandemic remains a concern.

Let us delve deeper into factors highlighting why investors should hold on to the stock for the time being.

Growth Catalysts

Wynn Resorts derives a solid share of revenues from Macau (the largest gaming destination in the world). Despite the coronavirus pandemic, the company is confident about its prospects in Macau. Apart from the gaming business in Macau, it has been increasingly focusing on driving non-gaming revenues. 

Notably, the company has been offering various promotional allowances and undertaking initiatives to attract patrons. Also, it is undertaking several initiatives and building newer concepts to boost non-gaming revenues in the region. Moreover, opening of the world’s

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An Uber-backed influence campaign against bike and scooter ‘rider surveillance’ lost the support of major privacy groups once they found out the company was involved

Uber sold its share e-bike and scooter business earlier this year.
Uber sold its share e-bike and scooter business earlier this year.

(AP Photo/Gregory Bull

  • Several major digital privacy groups pulled their support for an Uber-backed influence campaign after learning of the company’s involvement, WIRED first reported Thursday.

  • The campaign, Communities Against Rider Surveillance, is a coalition of 25 organizations that Uber helped form to steer the debate around cities’ use of scooter and e-bike trip data.

  • Fight for the Future deputy director Evan Greer told Business Insider she shared concerns about trip data and privacy but that the group backed out of CARS because Uber’s involvement was not “clearly disclosed.”

  • CARS spokesperson Keeley Christensen told Business Insider that “any suggestion by proponents of real-time location tracking that there is some sort of sleight-of-hand here is both misleading and an effort to cloud the serious privacy issues at stake.”

  • Uber sued Los Angeles earlier this year over its use of trip

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SAP says business recovered more than expected in second quarter

FRANKFURT (Reuters) – SAP said on Wednesday its business activity gradually improved in the second quarter from the effects of a global lockdown, with revenues and operating profit edging up, and the German software maker confirmed its full-year outlook.

Total revenue in the period increased by 2% to 6.74 billion euros ($7.64 billion). Software licenses – SAP’s cash-cow business that generates much of its profits but is “lumpy” because revenue is recognised up front – slumped 18%, but cloud revenues were up by the same amount.

“Software licenses revenue, while still below normal levels, recovered more than expected”, SAP said in a pre-released earnings statement, adding that the revenue showed a strong sequential improvement compared to the first quarter.

Operating profit increased by 7% to 1.96 billion euros as SAP slowed hiring new staff and cut costs, including by spending less on travel and staging more virtual events.

“Our quick

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