Editor's Note: Some linked articles may be behind subscription paywalls.
1. Odds of rate hike in US increase
While much of the interest rate discussion in the U.S. has centered on the pace of possible rate cuts, signs now point to an increased possibility of a rate increase, Reuters reports.
Persistent U.S. inflation and a weaker jobs market are combining for the type of environment that would favor a rate hike, according to the news outlet, and experts say such a hike is already priced in.
"The front end now of the Treasury yield curve has priced in a rate hike," said Kevin Flanagan, head of investment strategy at WisdomTree.
2. A look at the planned $8 billion renovation at New York's Penn Station
The "busiest transit hub in the Western Hemisphere" is on tap for a major makeover with plans unveiled for an $8 billion sweeping renovation of Penn Station in New York, The Associated Press reports.
The updated design aims to return to the grandeur the station once featured, based on renderings released by Amtrak and Penn Transformation Partners.
"Inside, commuters are to be greeted by a sunlight-drenched grand concourse with soaring ceilings more than 50 feet high in places," the news outlet reports. "It includes such touches as bronze finishings and other ornamental details, like a bas relief of the city’s famous skyline and a large, classic station clock, also made of bronze."
3. MGM Resorts exec says market undervalues his company amid takeover bid
Speaking during the recent NYU International Hospitality Investment Forum, MGM Chief Financial Officer Jonathan Halkyard said his company continues to be undervalued by the wider market, CoStar News' Bryan Wroten report.
The resort-casino company currently is trading at $47.73 a share with a cash offer from Barry Diller's People Inc. to buy it out for $48.30 a share in cash.
But Halkyard seems to indicate the company continues to have runway for growth on its own.
“You account for [both domestic and international growth] — the valuation on our domestic business which most people know about in Las Vegas and other places, is at a very low multiple, and that’s been the case for quite a while,” he said.
4. New York hotel offers $1 million World Cup package
It's been reported recently that success for hotels in World Cup markets will be driven more by rate than demand growth, and one hotel in New York seems to be taking that very seriously.
The Mark Hotel in Manhattan is offering a $1 million World Cup VIP experience around the final for the event, CBS News reports.
That price includes a 5-bedroom penthouse, butler service, a private chef and helicopter transport to the game.
5. Emirates looks to overcome Middle East travel drop with incentives
The war in Iran has severely disrupted travel in the Middle East, and Dubai-based airline Emirates is now offering "all sorts of incentives other than price" to try to overcome that, Reuters reports.
The sticking point of not being able to reduce price comes largely from increasing fuel costs, which have been reported to broadly cut airline profits in half this year.
Incentives "could be new means of ensuring their safety of operation, for instance," said Emirates President Tim Clark. "We'll take care of all of that, including flying them on other carriers if necessary to bring them home or get the kids into school."