Raphael Stevens

Airbus will test hydrogen propulsion on an A380, its largest passenger plane.
The manufacturer is working with engine maker CFM International, a joint venture of GE and France’s Safran.

Airbus hydrogen A380 demonstrator
Airbus hydrogen A380 demonstrator

Airbus said it plans to test a hydrogen-powered engine on a modified A380 by the middle of the decade, in hopes of bringing lower-emission fuels to commercial air travel.
The European aircraft giant said Tuesday that it’s working with engine maker CFM International — a joint venture of General Electric’s aviation arm and France’s Safran — on the test plane, which will include a modified version of an engine already in use that will have to handle higher temperatures at which hydrogen burns. Test flights could begin 2026, Airbus said.

Aircraft manufacturers and airlines are scrambling to slash their carbon emissions, which account for more than 2% of the world’s total. Airbus has aggressively pursued hydrogen and said it is working on a passenger aircraft powered by the fuel that it expects will enter service in 2035.
Rival Boeing has focused on more sustainable aviation fuels, which currently make up less than 1% of the jet fuel supply and are more expensive than conventional jet fuel. CEO Dave Calhoun said at an investor conference last June that he didn’t expect a hydrogen-powered plane on “the scale of airplanes that we’re referring to” before 2050.
“It will work for some very small packages,” he said.
One big challenge in using hydrogen fuel is that storing it would require additional equipment that adds weight to the aircraft, reducing the number of people or amount of cargo that a plane could carry, said Richard Aboulafia, managing director at Aerodynamic Advisory, an aviation consulting firm.
“Hydrogen is what happens when engineers and economists don’t talk to each other,” he said.
Airbus said it selected its A380, the world’s largest passenger plane, because it had room to store the liquid hydrogen tanks and other equipment.

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The ups and downs of the stock market may have you tempted to make changes to your portfolio.
Yet time and again experts will tell you to never let emotions drive your investing decisions.

This week, fear may be a factor for investors watching developments between Russia and Ukraine. Russian President Vladimir Putin said Monday he would recognize the independence of two breakaway regions in Ukraine, and later ordered forces into those territories.
The market was unsettled on Tuesday, following a week of losses by the major averages.
However, sudden declines and sharp rises in the stock market are a normal part of the investing journey, said financial advisor Mitch Goldberg, president of ClientFirst Strategy in Melville, N.Y.
“It’s what you do before a plunge that counts, not the hasty reactions that come during and after, when you have no time to think,” Goldberg said.
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While market experts said they didn’t see evidence of panic in the market, it’s normal for people to feel that way during heightened volatility, said financial psychologist Dr. Brad Klontz, associate professor of practice in financial psychology and behavioral finance at Creighton University Heider College of Business.
Those feelings have to do, in part, with the emotional brain being bigger and more powerful than the rational brain, he explained.
“Go ahead and panic,” Klonz said, “[but] don’t panic about the fact that you are panicking.”

In other words when it comes to the stock market, acknowledge your emotions — but don’t act on them. That goes for whether you want to sell during a big drop, or buy in during a surge.
Of course, refraining from acting may be easier said than done. Here are some techniques to calm your emotional brain so you can make more rational decisions.

Remember the past

When the stock market dives, remember that this isn’t the first time it’s happened.
“The stock market has overcome so many obstacles,” said Goldberg, pointing to 9/11, the Great Recession and the market crash of 1987.

Put some time between your impulse to act and your behavior.

Brad Klontz, financial psychologist

“What happened each time? The stock market recovered and claimed new highs.”
Klontz, who is also a certified financial planner, agrees. In fact, he said younger investors who have only witnessed a bull market are more prone to become emotionally charged during times of prolonged volatility.
“They never had this experience,” he said.

Take deep breaths

Consult with an expert

What’s more, consulting with a financial expert will not only help you evaluate the accuracy of your thinking, it also gives you something else you need: time.
If you can’t afford a financial advisor, at least speak to somebody before you make an investment decision, Klontz said. That is, as long as they are not also panicking.
“The goal is to put some time between your impulse to act and your behavior,” he explained. “If you can put some time in between those two things, you are more likely to calm down your emotional brain, engage your rational brain and make a good decision.”
Consulting with an expert will also give you an opportunity to reevaluate your approach to investing and assess your risk level. Perhaps your portfolio isn’t as diversified as it should be.
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The Supreme Court agreed to hear a Christian website designer’s appeal challenging a Colorado law that bars businesses from refusing to serve customers based on their sexual orientation.
The court will hear briefing and argument about whether “a law to compel an artist to speak or stay silent violates the Free Speech Clause of the First Amendment.”

A person walks down the sidewalk near the U.S. Supreme Court building in Washington, D.C., February 16, 2022.
Jon Cherry | Reuters

The Supreme Court on Tuesday agreed to hear a Christian website designer’s appeal challenging a Colorado law that bars businesses from refusing to serve customers based on their sexual orientation.
The court said in a list of orders that it will hear arguments about whether “a law to compel an artist to speak or stay silent violates the Free Speech Clause of the First Amendment.”

The graphic artist, Lorie Smith, says she wants to expand her business into creating wedding websites “promoting her understanding of marriage” and post a statement explaining why she will refuse to “promote messages contrary to her faith, such as messages that condone violence or promote sexual immorality, abortion, or same-sex marriage.”
But Smith cannot do so because the state law “considers it illegal,” according to her request for the Supreme Court to take up the case. Colorado state officials say the statute, the Colorado Anti-Discrimination Act, is constitutional.
Smith’s company, 303 Creative, “filed its complaint despite failing to identify any investigation into the Company’s conduct or any complaint filed against the Company,” the officials said.
The law had been upheld by two lower courts.
The court declined to take up Smith’s request for it to consider overturning decades-old precedent protecting laws that incidentally burden religious practice if they are neutral and generally applicable.

The justices are set to hear oral arguments and issue a ruling on the case in the court’s next term, which begins in October.
If the Biden administration has its way, the slate of justices hearing the case will include the high court’s first Black woman, whom President Joe Biden has vowed to nominate to succeed retiring Justice Stephen Breyer.
The court, which bears a 6-3 conservative majority after the appointment of three of former President Donald Trump’s nominees, has waded into divisive cultural issues including abortion, guns and religion.
The high court’s decision to hear the case comes more than seven years after the landmark ruling Obergefell v. Hodges, which legalized gay marriage.
In 2018, the court ruled 7-2 in favor of a Colorado bakery, Masterpiece Cakeshop, which had declined to design a wedding cake for a same-sex couple. The court said at the time that Colorado’s civil rights division showed “clear and impermissible hostility” toward the religious beliefs underpinning the baker’s decision.

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Most Americans struggle to figure out which health insurance plan will save them money.
A study of almost 24,000 employees at a major Fortune 100 company found that 61% of them chose the wrong plan for their needs. The researchers at Carnegie Mellon University who conducted the study estimated that the average employee could have saved $372 per year by choosing a different plan.

“The majority of employees chose plans that were more expensive, regardless of how much health care that they actually consumed the following year, and on average, the cost of these choices was about 2% of salary,” Carnegie Mellon associate professor of economics Saurabh Bhargava, who authored the study, told CNBC.
This is costing Americans. In 2018, over 8% of Americans’ total household spending went toward health-care costs. This represents about a 37% increase since 2004, up from 5.9% of total household spending.
Forty-six percent of Americans say it’s difficult for them to pay the out-of-pocket costs for medical care not covered by their insurance, according to an October 2021 poll from the Kaiser Family Foundation.
“It seems like people aren’t able to maximize their welfare because they’re having trouble understanding the decision environment,” said Anya Samek, associate professor of economics at the Rady School of Management at the University of California, San Diego.
One major issue in choosing a health-care plan is people don’t understand the lingo insurance companies use to discuss each plan. Only about 1 in 3 people are able to correctly identify three common health insurance terms: premiums, copays and deductibles, according to Policygenius’ 2020 Health Insurance Literacy Survey.

“This basic lack of literacy, I think, contributes to a number of problems that people have exhibited when they do choose from a plan,” Bhargava said.
Watch the video above to learn why Americans struggle to pick the most financially beneficial insurance plan for them and how to avoid leaving money on the table.
Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns. More

TSA data show some of the busiest days since the year-end holidays.
Airline executives have said spring break bookings have been strong.
Higher costs for fuel and labor are expected to push up fares.

Lines of people wait to get through TSA airport screening.
Getty Images

U.S. airports were the busiest since Thanksgiving over Presidents Day weekend, a sign that leisure travel continues to recover as Covid cases fall further.
The Transportation Security Administration screened nearly 8.4 million people from Friday through Monday, more than double the number from a year ago but down 7.5% from the 9 million people the TSA screened in 2020, a month before Covid-19 was declared a pandemic.

U.S. airline executives have recently said that leisure travel continues to recover or surpass pre-pandemic levels, particularly for domestic trips. Fares are likely to rise along with stronger demand this spring as well as amid a surge in airline costs, including for fuel and labor.
Corporate and long-haul international travel has been slower to recover as companies and individuals navigate a host of travel restrictions and many offices haven’t fully reopened.
Some countries, including the U.K., France and Israel have loosened entry requirements. U.S. airlines and several other travel industry groups earlier this month urged the Biden administration to drop predeparture Covid testing requirements for vaccinated travelers headed to the U.S.

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Yamaha Motor says the 5.0-liter V8 engine will be developed for automobiles and based on the one used by the Lexus RC F coupe.
Yamaha Motor President Yoshihiro Hidaka says the firm has “a strong passion for and level of commitment to the internal combustion engine.”
While there is excitement about the potential of hydrogen’s use in cars, high-profile figures within the industry such as Elon Musk have taken a different view.

A Yamaha Motor Co., V8 hydrogen engine displayed in Japan, on Saturday, Nov. 13, 2021.
Toru Hanai | Bloomberg | Getty Images

Toyota has commissioned Yamaha Motor to develop a hydrogen-fueled engine, with the president of the latter stating that his company was committed to the internal combustion engine.  
In an announcement toward the end of last week, Yamaha said the 5.0-liter V8 engine would be developed for automobiles and based on the one used by the Lexus RC F coupe, with alterations made to its cylinder heads and injectors, among other things.

According to Yamaha, the unit is able to deliver as much as 450 horsepower at 6,800 revolutions per minute. The company said it had been working on a hydrogen engine for automobiles for roughly five years.
Yamaha Motor President Yoshihiro Hidaka said that while his company was aiming to achieve carbon neutrality by the year 2050 it also had “a strong passion for and level of commitment to the internal combustion engine.”
“Hydrogen engines house the potential to be carbon-neutral while keeping our passion for the internal combustion engine alive at the same time,” Hidaka went on to say.
Last week’s statement builds on one from Nov. 2021 when Yamaha Motor, Kawasaki Heavy Industries, Toyota, Subaru and Mazda released details of what they described as a “challenge to expand fuel options for using internal combustion engines.” It was at this announcement that the V8 engine developed for Toyota was shown to the public.

Read more about electric vehicles from CNBC Pro

The notion of powering an internal combustion engine with hydrogen is not a new one. Toyota has already developed a GR Yaris which has a 1.6-liter ICE and uses hydrogen as its fuel.

According to the company, the GR Yaris uses the same powertrain as a hydrogen-powered Corolla Sport. The firm has labeled both of these vehicles as “experimental.”
Firms such as BMW have also produced vehicles such as the BMW Hydrogen 7. According to the German automaker, the Hydrogen 7 used an internal combustion engine and was able to run on gasoline or liquid hydrogen. Production of the vehicle began in 2006 and a limited run was made.
Using hydrogen to power an internal combustion engine is different to hydrogen fuel cell technology, where gas from a tank mixes with oxygen, producing electricity. As the U.S. Department of Energy’s Alternative Fuels Data Center notes, fuel cell vehicles emit “only water vapor and warm air.”
By contrast, hydrogen ICEs do produce emissions. “Hydrogen engines release near zero, trace amounts of CO2 … but can produce nitrogen oxides, or NOx,” Cummins, the engine maker, says.
Hydrogen ICEs are also “less efficient” compared to fuel cell electric vehicles, according to the Alternative Fuels Data Center.
While there is excitement about the potential of hydrogen fuel cell vehicles and companies such as Hyundai, BMW and Toyota have all developed cars based on the technology, others within the industry have taken a different view.
In June 2020, Tesla CEO Elon Musk tweeted “fuel cells = fool sells,” adding in July of that year: “hydrogen fool sells make no sense.”
In February 2021, the CEO of Germany’s Volkswagen Group also weighed in on the subject. “It’s time for politicians to accept science,” Herbert Diess tweeted.
“Green hydrogen is needed for steel, chemical, aero … and should not end up in cars. Far too expensive, inefficient, slow and difficult to rollout and transport. After all: no #hydrogen cars in sight.” More

Krispy Kreme reported its first quarterly profit since its July initial public offering, but its earnings fell short of Wall Street’s expectations.
CEO Mike Tattersfield said in an interview that Krispy Kreme, like the broader restaurant industry, is seeing inflation.
The company raised prices twice in the fourth quarter.

Krispy Kreme on Tuesday reported its first quarterly profit since going public again but fell short of Wall Street’s expectations for its earnings.
Shares of the doughnut company rose nearly 2% in premarket trading. Since its initial public offering in July, the stock has struggled, falling 33%.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: 8 cents adjusted vs. 9 cents expected
Revenue: $371 million vs. $364 million expected

Krispy Kreme reported fourth-quarter net income of $4.3 million, or 1 cent per share. A year ago, its quarterly net income was not meaningful, according to the company’s release.
Excluding items, the company earned 8 cents per share, missing the 9 cents per share expected by analysts surveyed by Refinitiv.
CEO Mike Tattersfield said in an interview that Krispy Kreme, like the broader restaurant industry, is seeing labor and commodity inflation, although it’s able to hedge against higher ingredient costs. The cost of sugar, wheat and oil make up about 12% of the company’s sales, and he said that the company has pricing power, too.
In the fourth quarter, Krispy Kreme raised prices twice. Compared with the year-ago period, the company’s prices are now up by the high-single digits worldwide, according to Tattersfield.

“We still seeing pricing as an opportunity,” he said.
Net sales rose 13.8% to $371 million, beating expectations of $364 million. Organic revenue climbed 13.9% compared with the year-ago period and 15.9% on a two-year basis.
Tattersfield credited strong Halloween and holiday demand for the company’s strong sales growth. Looking ahead to the first quarter, he said Valentine’s Day also saw robust sales. The February holiday is typically the company’s biggest day for sales.
“Our brand doesn’t tend to be a daily ritual,” Tattersfield said. “It tends to be at a gathering.”
For 2022, Krispy Kreme is anticipating net revenue growth of 11% to 13%, in line with Wall Street’s expectations. But its outlook for adjusted earnings per share of 38 cents to 41 cents fell short of analysts’ expectations of 45 cents per share.
Read the full earnings report here.

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