The Street
  • 4 months ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and the Biden Administration’s family-friendly seating proposal for airlines.

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Transcript
00:00I'm Conway Gittins reporting from the New York Stock Exchange. Here's what we're watching on the street today.
00:05Economic worries resurfaced and that knocked Wall Street off its feet. There was no place to hide with big losses across the board.
00:13Manufacturing activity shrank in July to its slowest pace in eight months according to the Institute for Supply Management.
00:20Separately, new filings for unemployment benefits jumped to an 11-month high.
00:25Eyes turn now to Friday's monthly jobs report.
00:29In other news, the Biden administration wants airlines to sit parents and their children together at no extra cost.
00:37According to a new proposal from the Department of Transportation,
00:40parents will be able to book seats next to their kids who are 13 years old or younger without any additional fee.
00:47Other family accommodations would include seating multiple children together in front or behind the parent or
00:54across the aisle. If these family accommodations can't be met within 48 hours of booking the ticket,
01:00parents can request a full refund or switch to another flight at no charge.
01:07Transportation Secretary Pete Buttigieg said in a statement,
01:10quote, many airlines still don't guarantee family seating which means parents wonder if they'll have to pay extra just to be seated with their young
01:17child. Flying with children is already complicated enough without having to worry about that.
01:23According to the DOT, getting rid of these so-called junk fees could save a family of four up to $200 per round-trip seat.
01:31American, JetBlue, Alaska and Frontier already guarantee fee-free family seating. The proposed rules would make it an industry-wide practice.
01:40That'll do it for your daily briefing from the New York Stock Exchange. I'm Conway Gittins with The Street.

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