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Travel and Leisure Hit by Spending Slowdown, Ukraine Pierces Russian Border and Companies Race to Issue Debt
Anna Eisenberg
August 07, 2024
Anna's Daybreak News
Thursday, 5:35 AM
August 8, 2024
Good morning news friend! Keep abreast of the latest developments, staying attuned to the ever-shifting flow of current events. 📰🌟
Travel and Leisure Hit by Spending Slowdown
US consumers are spending less on travel and leisure. Disney, Airbnb, and Hilton all see weaker demand.
Despite a 2% rise in revenue, Disney's theme parks faced a 3% drop in operating profit. Wealthy visitors choose overseas travel due to a strong dollar.
Hilton's revenue per available room grew 2.9% compared to 5.6% last year. They also downgraded their earnings per share forecast for 2024 to range between $6.06 and $6.15.
Airbnb's earnings per share were 86 cents, lower than the expected 92 cents. Revenue reached $2.75 billion. However, they noted shorter booking lead times and signs of waning interest from US guests.
Source: Read More (Paywalled FT.com)
US consumers are spending less on travel and leisure. Disney, Airbnb, and Hilton all see weaker demand.
Despite a 2% rise in revenue, Disney's theme parks faced a 3% drop in operating profit. Wealthy visitors choose overseas travel due to a strong dollar.
Hilton's revenue per available room grew 2.9% compared to 5.6% last year. They also downgraded their earnings per share forecast for 2024 to range between $6.06 and $6.15.
Airbnb's earnings per share were 86 cents, lower than the expected 92 cents. Revenue reached $2.75 billion. However, they noted shorter booking lead times and signs of waning interest from US guests.
Source: Read More (Paywalled FT.com)
Companies Race to Issue Debt
Corporations issued over $1 trillion in debt this year. This marks the fastest pace since 2020. On Tuesday alone, they sold $6.77 billion in bonds.
Firms aim to capitalize on lower yields before November's presidential election.
Risk premiums for holding riskier debt have widened recently, indicating market caution. Despite concerns, the demand for high-grade bonds remains strong.
August is expected to bring around $95 billion in new bond issuance, the highest for the month since 2022.
Source: Read More
Corporations issued over $1 trillion in debt this year. This marks the fastest pace since 2020. On Tuesday alone, they sold $6.77 billion in bonds.
Firms aim to capitalize on lower yields before November's presidential election.
Risk premiums for holding riskier debt have widened recently, indicating market caution. Despite concerns, the demand for high-grade bonds remains strong.
August is expected to bring around $95 billion in new bond issuance, the highest for the month since 2022.
Source: Read More
Do you think the US will be able to avoid a recession? |
Ukraine Pierces Russian Border
Ukraine launched a cross border assault into Russia in the Kursk region. Ukrainian troops advanced with armored vehicles, catching Russian forces off guard.
As fighting intensified, Russian officials reported heavy clashes near Sudzha, a critical gas transit point.
Russia reinforced troops and increased security around the Kursk nuclear power plant. Military analysts suggest this operation may disrupt Russian supply lines.
The US State Department confirmed it is in contact with Ukraine but noted that the actions do not violate existing policies.
Source: Read More
Ukraine launched a cross border assault into Russia in the Kursk region. Ukrainian troops advanced with armored vehicles, catching Russian forces off guard.
As fighting intensified, Russian officials reported heavy clashes near Sudzha, a critical gas transit point.
Russia reinforced troops and increased security around the Kursk nuclear power plant. Military analysts suggest this operation may disrupt Russian supply lines.
The US State Department confirmed it is in contact with Ukraine but noted that the actions do not violate existing policies.
Source: Read More
Astronauts Stranded Until Next Year?
NASA astronauts Suni Williams and Butch Wilmore may remain aboard the International Space Station (ISS) until next year.
They initially launched on June 5, expecting an eight to ten-day mission. However, technical issues with the Boeing Starliner spacecraft delayed their return.
The astronauts could return on a SpaceX Crew Dragon vehicle in 2025.
Boeing insists that the Starliner remains safe, yet concerns linger about the spacecraft’s thruster failures.
Source: Read More
NASA astronauts Suni Williams and Butch Wilmore may remain aboard the International Space Station (ISS) until next year.
They initially launched on June 5, expecting an eight to ten-day mission. However, technical issues with the Boeing Starliner spacecraft delayed their return.
The astronauts could return on a SpaceX Crew Dragon vehicle in 2025.
Boeing insists that the Starliner remains safe, yet concerns linger about the spacecraft’s thruster failures.
Source: Read More
“Never take investment advice from someone who has to work for a living”
Baked with love,
Anna Eisenberg ❤️
What did you think of today's edition? |