On the day bank branches reopened after China imposed restrictions on citizens trying to spirit money out of the country, Wendy Chen went to her branch in Shanghai and peppered staff with questions about how to get around the new controls. She was asking after the Jan. 1 rules required people converting yuan into dollars to provide detailed information on how they planned to use the money abroad and restricting its use.
Category: Travel
Russia is already retaliating against new US sanctions over…
Russia is already retaliating against new US sanctions leveled against the Kremlin for cyberattacks designed to interfere with the US presidential election. In response to the expulsion of 35 Russian diplomats who have been given three days to leave the US, Russia ordered the closure of the Anglo-American School of Moscow, CNN reported on Thursday, citing an unnamed US official with knowledge of the action.
Last-Minute Spending Surge Lifts Holiday Shopping Season
A jump in consumer spending in the final stretch of December significantly offset a slow start to the U.S. holiday shopping season, and is likely to help many retailers beat sales forecasts, industry research groups said on Tuesday. The December spending boost is in contrast to a muted November, when early holiday promotions and expectations among consumers that deals would always be available took a toll.
Low-Cost Airline Wannabe Has Plan for Costly Argentina
The serial airline entrepreneur trying to launch Argentina’s first low-cost carrier is betting the government will deregulate the industry enough to make his venture viable. And if it doesn’t, he’s got a back-up plan.
More foreign Vegas visits don’t equal more tips, workers say
Servers and dealers on the Las Vegas Strip say they’re worried that as more foreign visitors hit the restaurants and casinos, they’ll receive smaller tips because the tourists are coming from countries like China, where American-style, 20 percent gratuities are uncommon. “It’s very difficult when you’re serving or relying on tips and the majority of your guests are foreign.
Better Buy: Las Vegas Sands Corp. vs. MGM Resorts
Because each casino operator has placed separate bets on the gaming market, investors will want to know which makes the better investment as the industry’s rebound gains momentum. Sands and MGM have their feet firmly planted in the two biggest gambling markets, Las Vegas and Macau, but that’s where the similarities end.
Delta Air Lines, Inc. and Aeromexico Join Forces
This will enable them to coordinate their efforts in the transborder market. Delta and Aeromexico are going ahead with the joint venture even though U.S. regulators are forcing them to divest up to 28 airport slot pairs in New York and Mexico City.
China’s Year of Cat-and-Mouse With Insurance Buyers in Hong Kong
It’s a game of cat-and-mouse that has gone on for most of this year, with Beijing showing no signs of winning yet. Each time China tightens up on money flowing out of the country for purchases of Hong Kong insurance, new routes seem to emerge.
Zhongan Online Said to Scrap H.K. IPO, Consider China Listing
Zhongan Online P&C Insurance Co. scrapped plans for an initial public offering in Hong Kong or the U.S. and is instead focusing on a listing in mainland China, people familiar with the matter said.
Delta and Alaska Air Terminate Their “Frenemy” Relationship
While the two carriers have a codeshare and frequent flier partnership, they have aggressively entered each other’s markets and tried to steal customers from one another. This week, Delta and Alaska Air abandoned the pretense of being partners.
Orlando tech firm helps OIA, others analyze online feedback
Submit professional appointments, management-level promotions and significant awards for individuals , along with photos as a .jpg attachment, via email to peopleonmove@orlandosentinel.com . If you have a problem with a company, chances are these days you’ll let them have it on social media.
Airborne phone use facing ban
Answer : If airlines allow passengers to make in-flight cellphone calls, the carrier must notify passengers in advance, under a rule proposed by the U.S. Department of Transportation. The rule, proposed last week, may be a moot question because the Department of Transportation is still considering a complete ban on airborne voice calls within, to or from the United States.
Cashless Christmas and help booking winter getaway: CBC’s Marketplace consumer cheat sheet
Some parents pay more for child care than for their mortgage . A report this week found childcare in Toronto, Vancouver, Calgary and St. John’s usually costs more than $1,000 a month .
Chinese Buying Insurance in Hong Kong Said to Face Further Curbs
Chinese residents buying insurance in Hong Kong will no longer be able to swipe their credit cards multiple times to get around previously imposed curbs intended to slow sales, according to people with knowledge of the matter. Purchases of insurance in Hong Kong using MasterCard Inc. and Visa Inc. credit cards issued in China have been capped at $5,000 per insurance product, according to the people, who asked not to be identified because the changes haven’t been made public.
Snap makes $3 billion IPO details public
Snap Inc, owner of popular messaging service Snapchat, made many of its financial details public for the first time on Thursday as it prepared to raise up to $3 billion in an initial public offering. The Los Angeles-based company said it generated $404.5 million in sales in 2016, up from $58.7 million in 2015.