Business News Archive - August 06, 2008

Oil traders sent crude prices tumbling as low as $118 Tuesday on the growing belief that a U.S. economic slowdown and high energy costs are curbing consumer demand for gasoline and other petroleum products. Crude's decline is giving Americans more relief at the pump.

US Airways topped the 10 largest airlines for on-time performance year to date through June, according to government figures released Tuesday. Flights arrived within 14 minutes of schedule 79.4 percent of the time.

Home News IN BRIEF *Two planes collided while taxiing towards a runway at Manchester airport yesterday. The aircraft, with 287 passengers on board, touched wings as they approached the airport's first runway. No one was injured.

By Sarah Arnott It was another gloomy day for the global airline industry yesterday as British Airways revealed depressed passenger numbers for what should have been one of the busiest months of the year, and two European carriers posted disappointing financial results.

By The Associated Press JERUSALEM (AP) - An Israeli couple going on a European vacation remembered to take their duty-free purchases and their 18 suitcases, but forgot their 3-year-old daughter at the airport, police said Monday.The couple and their five children were late for a charter flight to Paris Sunday and made a mad dash to the gate.

By John Stark, The Bellingham Herald, Wash. Aug. 5--BELLINGHAM -- A Las Vegas-bound Allegiant Air flight got stuck on a Bellingham International Airport taxiway Monday, Aug. 4, after the pilot made too wide a turn, putting the MD-80's nose wheel into the dirt.

Three Companies Combine to Help Embattled Airline Industry For Flight Sciences International Michael Miller, 703-608-2071 (on-site contact) airmm@yahoo.com Flight Sciences International: TABLE WHAT: Press conference to announce the formation of a new Anglo- European joint venture based in Europe, with staff from Canada, U.S.

PUTRAJAYA: A central agency is expected to be used to ensure proper distribution of price-controlled items like 15 per cent broken rice, cooking oil, and flour in rural areas.

By S.M. Mohamed Idris A PACK of premium-brand of cigarettes in Malaysia costs only RM8.20. However, the price of a premium brand in the United Kingdom is RM36.60 and in Singapore RM27.80.

By Ramit Plushnick-Masti The Associated Press PITTSBURGH - Small business is risky business these days.Costs are rising, profits are shrinking and the ability of the big guys to keep prices relatively lower is drawing away customers.Things are so bad that many small enterprises, which account for about 99 percent of the country's businesses, say they are hanging by a thread that might soon snap."We are basically losing money every month, about $1,000 a month.