Airfares are likely to keep rising this year

Marketplace All-in-One

Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 3 June 2024

⏱️ 1 minutes

🔗️ Recording | iTunes | RSS

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Summary

Airline industry group says higher jet fuel costs will push ticket prices higher; OPEC+ extends oil production cuts into 2025; China’s manufacturing sector rebounds; more women become CEOs of S&P 500 companies.

Transcript

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0:00.0	Airfares are likely to keep rising this year.
0:05.0	I'm Nova Safa with the Marketplace Minute.
0:07.0	The International Air Transport Association predicts airlines, domestic and international,
0:12.0	will continue to hike fares amid ongoing inflation
0:15.3	worldwide.
0:16.7	Among the biggest factors, the higher cost of jet fuel.
0:20.1	And the latest from OPEC Plus might not help, The group of oil-producing countries led by Saudi Arabia
0:24.9	and including Russia is extending production cuts.
0:28.3	Most will last well into next year.
0:30.5	Some cuts are, for now, scheduled to taper off in the fall.
0:34.0	China's manufacturing sector is rebounding.
0:37.0	Factory activity last month grew at its fastest pace in two years.
0:41.0	The Chinese government is subsidizing high-tech manufacturing to bolster its
0:45.9	economy. More women are chief executives of S&P 500 companies according to a
0:50.5	survey by the Associated Press. still the total number is small, 25,
0:55.2	Lisa Sue, CEO Chipmaker, AMD is the highest paid, $30 million in total compensation.
1:01.6	I'm Novasafo with a marketplace minute.

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