In brief: United puts 787s back into flight rotation
CHICAGO – United Airlines is putting its grounded Boeing 787s back in the flight schedule, even though the plane is still grounded by government authorities.
United acknowledged Monday that the plane is in its schedule starting May 31. Travel website Jaunted.com noted a 787 flight from Houston to Denver that day.
United Continental Holdings Inc. spokeswoman Christen David said the airline will make more schedule changes as it gets a better idea of when the plane will be cleared to fly. It’s planning to resume international 787 flying June 10, from Denver to Tokyo.
Boeing Co. has proposed a fix for the 787’s smoldering batteries, but it needs approval from the Federal Aviation Administration. The fix will then have to be installed on each plane. United owns six 787s.
Fed tests show banks healthier since crisis
WASHINGTON – The Federal Reserve’s annual “stress tests” of major U.S. banks have become better able to detect risks, Chairman Ben Bernanke said Monday night. He said the tests show that the banking industry has grown much healthier since the financial crisis.
Speaking in Atlanta, Bernanke noted that this year’s tests showed that 18 of the biggest banks had collectively doubled the cushions they hold against losses since the first tests were run in 2009. He said the tests are providing vital information to regulators.
The latest test results were released last month. They showed that all but one of the 18 banks were better prepared to withstand a severe U.S. recession and an upheaval in financial markets. The tests are used to determine whether the banks can increase dividends or repurchase shares.
Newspapers growing circulation revenue
After years of devastating losses, the newspaper industry has a glimmer of good news: Circulation revenue for daily newspapers grew in 2012 for the first time in a decade as more people paid to subscribe to digital editions, according to data compiled by the Newspaper Association of America.
Newspapers generated $10.4 billion in circulation revenue in 2012, a 5 percent increase over the previous year. It was the first gain since 2003, as more consumers read newspaper content on desktops, tablets and cellphones.
Otherwise, the news was not as good.
The NAA study found that overall revenue for daily newspapers fell 2 percent last year to $38.6 billion. That compared with $39.5 billion in 2011.
Advertising dollars continued to shrink, declining 6 percent last year. Revenue for ads in printed daily and Sunday editions tumbled 9 percent.
In contrast, ads on digital platforms, including mobile devices and the Internet, rose 5 percent, to $3.4 billion.