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The dollar index, which measures the U.S. dollar against a basket of currencies, rose 0.16 percent, with the euro down 0.14 percent to $1.1248. Oil prices slumped after government data showed U.S. crude inventories grew more than expected last week as a Texas chemical spill hampered exports. U.S monogrammed cufflinks amazon. crude settled down 0.9 percent at $59.41 per barrel and Brent settled at $67.83, down 0.2 percent. Palladium prices plummeted as investors worried that prices had risen too far too fast and breaks below technical levels triggered automatic selling..
(Reuters) – Swedbank Chief Executive Birgitte Bonnesen said on Wednesday that a search of its head office by Sweden’s Economic Crime Authority (EBM) was part of a previously announced investigation. The authority launched an inquiry into Swedbank in February over allegations the Swedish bank informed some investors of a news report linking the bank to a Baltic money-laundering scandal before the information was made public. “We will cooperate with EBM and we await the conclusions of the authority,” Bonnesen said in a statement monogrammed cufflinks amazon.
(Reuters) – Southwest Airlines Co on Wednesday was the first major U.S. airline to formally cut its financial outlook for the year after being forced to pull its new fleet of 34 Boeing 737 MAX planes out of service. The Dallas, Texas-based airline, which has struggled with maintenance problems and a harsh U.S monogrammed cufflinks amazon. winter, estimates it will have canceled 9,400 flights between mid-February and March 31, reducing growth in its number of available seats to just 1 percent compared to a year ago. That compared with a forecast of around 3.5 percent to 4 percent in late January. The reduction also led it to cut growth in another closely-watched measure – revenue per available seat mile (RASM) – by a full percentage point..
Overall it estimated it would lose $150 million in revenue in the quarter compared to previous expectations. “(We) experienced softness in passenger demand and bookings related to the government shutdown, resulting in an estimated $60 million negative revenue impact in first quarter 2019,” Southwest said monogrammed cufflinks amazon. “Trends have also been negatively impacted by more winter weather disruptions than expected, unscheduled maintenance disruptions, further softness in leisure-oriented passenger demand and yields, and the MAX groundings.”..
Southwest also now estimates first-quarter unit costs to increase about 10 percent, compared with its previous forecast of about 6 percent because of flight cancellations monogrammed cufflinks amazon. This figure excludes fuel costs and profit-sharing expenses. U.S. airlines and manufacturers, along with Wall Street, have been slow to estimate losses from the fallout of the Ethiopian Airlines crash on March 10, which killed 157 and led to the worldwide grounding of Boeing’s new MAX jets. Southwest said of its expected cancellations, about 3,800 would be weather-related and about 2,800 due to unscheduled maintenance disruptions and the grounding of the 737 MAX 8..