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1. US ban on Canadian products begins
The new ban set by the White House on certain Canadian products starts today, CNBC reports. The ban includes motorcycles and mopeds with engines over 800cc, whey products and molasses as well as alcoholic beverages.
The American Action Forum estimates the total value of these Canadian imports to be about $19.9 billion.
Canadian Trade Minister Dominic LeBlanc said at a press conference last week the U.S. was implementing illegal tariffs, but while sides are working toward an agreement, Canada would not sign one that is bad for Canada.
“We have said we will sign an agreement when we think there is one that is in the interests of Canada’s sovereignty and Canada’s economy... but we’re not waiting by the phone,” LeBlanc said.
2. How 'Super El Niño' could disrupt travel
Typical El Niño weather events lead to higher global temperatures and disrupt rainfall over regions, but a "super El Niño" can lead to droughts and floods as well as disrupted weather patterns that can hurt crop production and wildlife migrations, Outside reports. The National Oceanic and Atmospheric Administration has given the upcoming super El Niño a 75% chance of being the strongest on record.
Though El Niño has global effects, some regions will see greater impacts than others. The areas expected to see significant travel issues are North America, the Caribbean, the Pacific Islands, South America and parts of Asia.
For example, the U.S. South and Gulf Coast are expected to see wetter weather than normal this winter, which could cause heavy rains, flooding and winter storms. For ski destinations, it could mean more favorable snow conditions in the Sierra Nevadas but less snow in the Northeast and Europe. Hawai'i and the Pacific Islands can expect higher tropical storm activity, as already evidenced by four major storms since August.
3. A story of scale: Marriott-Starwood deal 10 years later
It has been a decade since Marriott International closed on its acquisition of Starwood Hotels & Resorts Worldwide, a deal that has forever changed the global hotel industry, CoStar News Hotels reports. The deal not only gave Marriott a much larger global footprint and pipeline, it launched a new area of portfolio and brand growth.
In an interview with CoStar News Hotels, Marriott President and CEO Tony Capuano said that along with his own company's growth, the other global hotel franchisors have expanded as well, chasing scale through new brands and acquisitions.
“I think the Starwood transaction illustrated the power of these broader brand portfolios,” he said.
4. Alaska Air upgrades lounges, cabins for premium flyers
Alaska Air has been upgrading its lounges and cabins in a bid to capture more business from premium travelers, the Wall Street Journal reports. The airline bought Hawaiian Airlines two years ago, and it has been increasing its reach to attract more travelers, including new flights to Europe and Asia.
"The carrier’s premium push comes as airlines are finding that catering to travelers willing to spend more for comfort is critical to turning a profit, especially as expenses such as fuel, labor and airport fees climb," the newspaper reports. "Airlines are overhauling their airplane cabins to tap in to growing demand for travel luxuries."
5. Wyndham increases share buyback program by $400 million
The Board of Directors for Wyndham Hotels & Resorts approved an increase of $400 million to the company's share repurchase program, according to a news release.
Wyndham reported for the second quarter this year, it had repurchased 657,000 shares of its common stock for a total of $54 million. During the first quarter, it bought back 656,000 shares for $51 million.
"Our board's decision to increase our share repurchase authorization reflects its continued confidence in the strength of our business model, our ability to generate significant cash flow and its commitment to continued shareholder returns," Wyndham President and CEO Geoff Ballotti said in the news release.