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Continental Airlines, recently bought by United Airlines to form United Continental Holdings Inc , has scrapped plans to launch new service to Cairo, because of declining travel demand to Egypt, which is grappling with political unrest.
Continental said it has “indefinitely postponed” the planned service from Newark, New Jersey, to Cairo, which was to have begun on May 18. Get the full story »
From World Bakers | A number of food companies have stopped production or closed stores due to the upheavel in Egypt.
Kraft Foods said it was among a number of food companies to have temporarily suspend its operations in Egypt amid political upheaval. Kraft, which has four plants and one business office in Egypt where it makes products including Oreo and Mikado and markets brands like Tuc biscuits in Egypt said its facilities were “secure”. Get the full story>>
Designer Kenneth Cole. (Reuters)
Fashion house Kenneth Cole Productions became the target of the Internet’s collective wrath after the company’s namesake chairman tweeted a promotion that joked about this week’s escalating protests in Egypt.
The controversy began after the official Kenneth Cole company twitter account posted the tweet at around 10:30 a.m. ET, Thursday: “Millions are in uproar in #Cairo. Rumor is they heard our new spring collection is now available online… -KC.“ The post included a link to the company’s online store. Get the full story »
U.S. stocks were headed for a flat open Monday, as investors continued to worry about growing political unrest in Egypt.
Dow Jones industrial average, S&P 500 and Nasdaq futures were little changed before the opening bell. Futures measure current index values against perceived future performance. Get the full story »
Oil prices surged Friday as thousands continued to riot against the government in Egypt, and unrest threatened to spread across the Middle East.
Benchmark oil rose $3.56, or 4.2 percent, to $89.23 a barrel in afternoon trading on the New York Mercantile Exchange. It was as high as $89.73 a barrel. Get the full story »
