Tariffs are causing turbulence for Korean Air. But its CEO remains bullish
CNN
The chief executive of Korean Air, one of the world’s top airlines, has a stark warning about the impact of US President Donald Trump’s trade war on some of the carrier’s most popular routes.
The chief executive of Korean Air, one of the world’s top airlines, has a stark warning about the impact of US President Donald Trump’s trade war on some of the carrier’s most popular routes. “We’re already seeing the downturn in passenger volume between trans-Pacific (routes) and also to Europe,” Walter Cho told CNN this week, just steps away from a gleaming Boeing 777 decked out in the airline’s distinctive blue and white colors. “It’s subtle, maybe 5% compared to last year, but it has some significant impact to our business.” When asked how the decline translates into dollars, Cho indicated it could cost Korean Air anywhere between $50 million to $100 million a year in lost revenue if lower passenger levels continue for the rest of 2025. “Korea’s economy is in between the US and China, and we depend on both economies as well, quite a bit,” Cho said. “We are bracing for the impact we’re looking at. I don’t expect this year to be great for the Korean economy, and we are looking at our costs as we speak. But I hope, I hope I’m wrong,” he added. Korean Air, which completed the acquisition of rival Asiana Airlines in December, isn’t the only major airline to warn about the impact of tariffs.
After weighing a slightly lower unemployment rate with small increases in inflation in December, the Federal Reserve on Wednesday decided to leave its key overnight lending rate untouched. That decision follows the three cuts the Fed made last year, for a total of six cuts since September 2024.
Unless your name is Domino’s, it’s tough to be a pizza chain right now.
Apple bet big on a dramatic redesign of its iPhone last year, the biggest shakeup to its flagship smartphone in nearly a decade. But the slimmer iPhone Air hasn’t seemed to resonate with buyers.
Federal Reserve officials convene this week at a pivotal moment in the US central bank’s 112-year history, with a series of historic events putting a spotlight on their ability to set interest rates without political interference.
TikTok’s new US business, led by a group of mainly American investors approved by President Donald Trump, is off to an inauspicious start.
For years, social media giants have argued against claims that their platforms harm young people’s mental health. Starting Tuesday, they will for the first time have to defend against those claims before a jury in a court of law.
Amazon is closing its branded brick-and-mortar grocery stores, with the company consolidating its strategy under the Whole Foods name.
Record-high car prices coupled with high interest rates are leading to huge monthly car payments for many Americans. A record share of Americans — more than 20% — agreed to pay more than $1,000 per month for a new car loan at the end of the year, according to car sales site Edmunds.
Some TikTok users are accusing the app of censorship after they attempted and failed to upload videos about ICE. TikTok says the ongoing glitches are related to a power outage.
The corporate cavalry isn’t coming.
President Donald Trump announced on Monday he is raising tariffs on goods from South Korea to 25% from 15%.
Minnesota’s corporate giants have remained silent publicly for more than a month as their businesses and the local economy suffered from massive federal immigration operations in the Twin Cities.
As MAGA media frets over the optics of the Alex Pretti shooting, Brian Kilmeade repeatedly floated a suggestion to the president over Fox’s airwaves on Monday.