Marriott plans to offer Netflix on its in-room televisions, the World Bank urges the U.S. Fed to hold off on interest rate increases. Here are the top news stories for June 11, 2015.
Marriott to Offer Netflix
Back in the day, one thrill in a hotel stay was the on-demand television channels that were available in your room. Today, those channels are being ignored as hotel guests just use their laptops or mobile devices to watch films. So Marriott hotels has decided to update its offerings by providing Netflix to hotel guests. Currently, Netflix is available in only six locations in the United States, but Marriott is planning to have it available in 100 of its properties by the end of 2015, and in almost 300 locations by the end of 2016. With the new hookups, guests will be able to access Netflix accounts as well as Hulu, Pandora and YouTube on their hotel television monitor. The access will require membership to any of the special channels.
Airline Group Want Smaller Carry-Ons
The International Air Transport Association, a trade group that represents most of the world’s largest airlines, said this week it wants airlines to allow only smaller carry-on bags, to create more space in overhead bins. A standard maximum allowance for carry-ons would streamline boarding processes for all airlines, the IATA says. Currently, different carriers allow different size bags to be brought onto the planes. The IATA recommendation would make the maximum bag size for carry-on at 21.5 inches tall by 13.5 inches wide by 7.5 inches deep. That is smaller than the maximum currently in place for most major airlines, including American, Delta and United. These are just recommendations, and airlines are not obligated to adopt the new carry-on standards.
EPA Wants to Clean Up Airplane Emissions
In more air traffic news, the Obama administration has proposed regulations on aircraft emissions similar to the emission standards set for power plants. The Environmental Protection Agency says aircraft emissions are a threat to human health because they contain pollutants that help promote global warming. Next year, the International Civil Aviation Organization is set to announce new emissions standards for aircraft, which will be the first of its kind. Any American proposal will probably be left to the next presidential administration, since the EPA is not likely to adopt the international standards until sometime in 2017.
Krispy Kreme Tops Earnings Expectations
Krispy Kreme Wednesday announced it topped earnings expectations but missed on expected revenue numbers in the company’s first-quarter reports. Earnings reached 24 cents per share and revenue of $132 million, while Wall Street had expected 22 cents per share on $136 million in revenue. Net income for the year is expected to fall between $48 million and $51 million. The company’s store count has increased by 3.3 percent to 855 stores, including franchises.
World Bank Warns Against Rate Increase
The World Bank has joined the International Monetary Fund in suggesting the United States Federal Reserve delay raising interest rates until sometime in 2016. There is growing belief the Fed will raise rates in September as the American economy continues to show signs of growth, but the lead author of the World bank’s bi-annual Global Economic Prospects report said the U.S. should hold off on that move. Franziska Ohnsorge said markets outside of the U.S. would be affected negatively by a raise in U.S. interest rates and those outside markets are not ready to handle the change. Last week the International Monetary Fund issued a similar plea to delay an increase in interest rates until the first half of 2016.
Retail Sales Jump in May
The Commerce Department Thursday announced that U.S. retail sales inroad 1.2 percent in May after a 0.2 percent gain in April. Consumers paid a bit more for gasoline in May, and there was an increase in automobile sales. Retail sales excluding gasoline, automobiles, building materials and food services increased 0.7 percent in May. Sales at clothing stores jumped 1.5 percent in May, while receipts at online stores climbed 1.4 percent and sporting god stores saw a 0.8 percent increase.