Raphael Stevens

JetBlue Airways aircrafts are pictured at departure gates at John F. Kennedy International Airport in New York.Fred Prouser | ReutersJetBlue Airways’ is finally making the hop across the pond.The New York-based carrier is now selling tickets for its first service from its home base at John F. Kennedy International Airport to London Heathrow, starting Aug. 11. After its debut, it plans to add flights from Kennedy Airport to London Gatwick on Sept. 29.It plans to start London flights from Boston in the summer of 2022.JetBlue’s plan for London service has been in the works for more than two years. Executives have said the trans-Atlantic market was ripe for disruption, particularly with lower business-class fares than competitors offer.A roundtrip JetBlue flight from Kennedy Airport to London Heathrow leaving Aug. 12 and returning Aug. 18 was posted for $1,968.45 in the airline’s Mint cabin and $618 for its nonrefundable basic economy fare. On Delta Air Lines, the cheapest and most restrictive coach fare was listed as $1,007 roundtrip on those same dates and for $2,631 in its top-tier Delta One cabin. United Airlines fares to Heathrow from its Newark, New Jersey hub started at $845 and $2.573 for its Polaris business-class cabin.JetBlue in February unveiled its revamped Mint business-class cabin that will feature suites with sliding doors for the London flights as well as some other longer-haul service.The airline took delivery of its first long-range Airbus A321LR last month that will be used for the flights. More

In this articleHDLOWA customer pushes a shopping cart towards the entrance of a Lowe’s store in Concord, California, on Tuesday, Feb. 23, 2021.David Paul Morris | Bloomberg | Getty ImagesLowe’s said Wednesday that fiscal first-quarter sales rose 24%, outpacing Wall Street expectations, as consumers continued to invest in their homes and sales picked up among home professionals, such as contractors.The home improvement retailer said momentum continued into May. Based on these trends, it said it’s tracking ahead of its prior sales forecast of $86 billion this fiscal year.Despite its strong quarter, shares fell nearly 3% in premarket trading as investors worried that the labor shortage could slow down the housing market.Here’s what the company reported for the fiscal first quarter ended April 30 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Earnings per share: $3.21 vs. $2.62 expectedRevenue: $24.42 billion vs. $23.86 billion expectedLowe’s reported first-quarter net income of $2.33 billion, or $3.21 per share, up from $1.34 billion, or $1.76 per share, a year earlier. The results outpaced the $2.62 per share expected by analysts surveyed by Refinitiv.Net sales rose to $24.42 billion from $19.68 billion last year, higher than analysts’ expectations of $23.86 billion. Lowe’s same-store sales grew by 25.9% in the quarter. That’s higher than the growth of 20.3% that Wall Street expected, according to a survey by StreetAccount.For some analysts, however, that sharp trajectory wasn’t good enough. Zack Fadem, a senior equity analyst for Wells Fargo, said in a research note that some had expected to see growth in the upper 20% to low 30% range.At rival Home Depot, sales soared by nearly 33% in the first quarter, but the retailer declined to provide a forecast. Its shares fell on Tuesday and were down about 1% in Wednesday’s premarket.Both home improvement players have benefited from the booming real estate market, but they face new challenges. Demand for homes remains high, but a labor crunch, rising lumber prices and land shortage is making it difficult for construction to keep up. Single-family housing starts dropped more than 13% in April compared with March, the U.S. Census reported Tuesday. That’s the sharpest decline since April 2020, when the pandemic shut down the economy.Lowe’s is also going up against big numbers in the fiscal year. It kept stores open during lockdowns last year as an essential retailer. As customers stayed at home, they took on do-it-yourself projects, replaced kitchen appliances and spruced up their lawns or backyards. Some investors are skeptical that will continue as people dine out, go on vacation and spend their time in other ways.As of Tuesday’s close, Lowe’s shares have risen about 20% this year. Its shares closed at $192.75 on Tuesday, bringing its market value to $138.24 billion.Read the full press release here. More

In this articleQSR-CABurger King’s Ch’King sandwichSource: Burger KingBurger King will enter the chicken sandwich wars in June with the Ch’King, its take on the trendy menu item.The Restaurant Brands International chain is following in the footsteps of sister chain Popeyes, which launched its own blockbuster sandwich in August 2019. For 1½ years, the fried chicken chain has reported double-digit sales growth, propelled by the popularity of the sandwich. Since then, rival fast-food chains, including McDonald’s and Yum Brands’ KFC, have launched their own versions.Burger King is trying to set itself apart from the pack by breading its chicken by hand, a step that takes time, training and new equipment. Ellie Doty, chief marketing officer of Burger King North America, said the chain took two years perfecting the recipe and figuring out to make the process work for its restaurants.”We really took our time to get it right, to get the reps in at the restaurant and make sure that every restaurant had their hand-breading station set up properly,” Doty told CNBC.The Ch’King launch also comes as the country faces a chicken shortage, fueled in part by the chicken sandwich wars and a lack of poultry processing workers. Prices for chicken breast, which is often used in chicken sandwiches, are soaring. The Wall Street Journal reported that KFC restaurants are limiting sales of its chicken sandwich in response. Doty said Burger King isn’t immune to macroeconomic factors but it took steps to make sure that its supply chain could handle pressure.”In taking the time to get this right, we also took the time to make sure that we have a very robust supply chain that is set up for the main scenario that we’re predicting as well as others that could happen,” she said.Doty said the Ch’King’s name was inspired by a customer who tried the menu item during the testing phase and said the chain should change its name to Chicken King.To celebrate the nationwide launch on June 3, customers who order the Ch’King on the Burger King app or online will also receive a free Whopper. The deal lasts through June 20. It’s the first major promotion for Burger King since it launched its loyalty program nationwide.Shares of Restaurant Brands International have risen 10% this year, giving it a market value of $31.3 billion. While Burger King and Popeyes’ U.S. locations have bounced back from the pandemic quickly, Tim Hortons is taking longer to see customers return to its cafes. More

When the Covid pandemic hit, small business owners across the country scrambled to stay afloat.Those who managed to stay open were the fortunate ones. As of May 5, the number of U.S. small businesses that are open decreased by 33.8% compared to January 2020, according to Opportunity Insights, a Harvard-based economic tracker.Here’s how four businesses pivoted in order to survive during the pandemic.Lovely LeapsLisa McCabe, owner of California-based dance studio Lovely Leaps, during her time as a dance student in college.Source: Lisa McCabeWhen schools shut down in California’s San Diego County last March, so did most of Lisa McCabe’s business at her dance studio, Lovely Leaps. About 90% of her classes took place at area preschools. Then, the building where she conducted her in-studio classes also permanently shuttered.McCabe, 32, immediately started networking and landed a gig teaching mommy-and-me virtual classes. She also began hosting virtual free dance classes for kids 10 months to 3 years old every week. Yet she needed to make money. So in June, she started a paid class for the 6-to-10 age group.”Realizing early on what the customer wants with virtual [dance] really helped us excel,” McCabe said.More from Invest in You:’Top Chef’ Shirley Chung pivoted her business, became a voice for AsiansLack of workers is hurting small businesses’ ability to keep up with demand’Huge’ opportunities await women entrepreneurs, venture capitalist saysIt also helped that she networked with local organizations, offered free classes and formed partnerships.”Our virtual classes took off like a rocket,” McCabe recalled.By the end of July, she had 2,000 virtual paying students. In October, she opened up a new studio location.”It has been bumpy, but it is all moving in the right direction,” McCabe said.Guru NandaPuneet Nanda, founder and CEO of Guru Nanda, with the lavender he uses in his essential oils.Jared HeimovitzPuneet Nanda saw an opportunity when the crisis unfolded. He quickly pivoted his essential oils and accessory company, Buena Park, California-based Guru Nada, to manufacturing essential oil-based hand sanitizer and masks.By July, when people were firmly entrenched in their home offices, he saw his essential oils and diffusers take off.”A lot of people would not use it when they are working from an office,” explained Nanda, 53, who walked away from his first business, the oral-care company Dr. Fresh, after a health scare. He returned to practicing yoga and aromatherapy, which led to his latest venture.”From their home office, they want some relief from their kids and their husbands and they probably want to be in their zone.”The past year wasn’t always smooth sailing, however. Nanda worried about his employees and his business. In early March 2020, the Food and Drug Administration issued a warning to his company, as well as several others, to stop selling products that claim to cure or prevent the coronavirus.Guru Nada immediately removed any information related to treatment or prevention of Covid-19 and the coronavirus, the company said in a statement at the time. It promised to be compliant and work with the FDA.Golden CatalystJan-Ie Low (right) and volunteer Huong Pham pack hot meals to help feed families in need for Operation #MoveForwardTogether in Fountain Valley, California on Feb. 21, 2021.Source: Jan-le LowBeing an event planner and a restaurant owner in Las Vegas during the pandemic meant 49-year-old Jan-Ie Low had to make some fast decisions.While her restaurant was shuttered, she concentrated on using her event planning business, Golden Catalyst, to consult with Asian-American businesses on how to navigate available aid, like the Paycheck Protection Program.She also turned to producing virtual events, like the 10th annual Chinese New Year in the Desert. The weekend-long event typically included sit-down dinners and celebrations.”We became creative,” Low said. “It is easy for us to say, ‘No, we can’t do it.’ But we twisted and modified it and made it into a production instead.”She’s since been hired to produce a virtual Japanese celebration, the annual Obon Festival, this August.”We are about at 50% with event planning, but I’m not complaining,” Low said.Black Travel BoxOrion Brown had to make adjustments to her business, Black Travel Box, during the pandemic.Orion BrownFor Orion Brown, 2020 was supposed to be the big launch of her brand, Black Travel Box. The 39-year-old started the business in 2017 to address the personal care needs of Black women travelers, but she had been mostly testing products on the market.The first thing she did was launch a Covid-19 relief kit, which was her body balm and lip balm. She also had travel candles in the pipeline and decided to make larger ones for the home, sticking with the travel theme with names like Harlem Speakeasy, London Fog and Riviera Bordeaux.”It was a hard few weeks of trying, ‘what does what does a good pivot look like for a business like this, that’s still getting off the ground?'” Brown said.In the end, she made a conscious choice not to stray too far from her brand.Brown is also upping her entrepreneurial game. She was awarded a $1,000 grant last September from personal care brand Caress’ Dreams to Reality Fund and got a $1,500 annual membership to IFundWomen to help crowdfund her business. In April, she joined The Workshop at Macy’s, the department store chain’s women-owned vendor development program.”I’m really excited and very, very optimistic for where things will go,” Brown said.SIGN UP: Money 101 is an 8-week learning course to financial freedom, delivered weekly to your inbox.CHECK OUT: Self-made millionaire: If your goal is to be financially independent, ask yourself 4 questions via Grow with Acorns+CNBC via Grow with Acorns+CNBC.Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns. More

Across the country, a growing number of colleges and universities have said vaccinations will be mandatory for the fall of 2021.Now, hundreds of thousands of students will be required to get the Covid-19 vaccine, whether they want to or not.For the most part, students will get vaccinated if it means campus life can return to a pre-pandemic “normal” by September. But not everyone feels that way.Roughly 88% of college students plan to get the coronavirus vaccine and nearly 3 in 4 students believe vaccinations should be mandatory, according to a recent survey of more than 1,000 college students by College Finance.More from Personal Finance:Hundreds of colleges say Covid vaccines will be mandatoryDespite FDA approval, some schools say they won’t mandate vaccinationsWill your child’s school mandate Covid vaccinations?However, Jackie Gale, a rising sophomore at the University of Alabama-Birmingham, is not one of them.For religious reasons, Gale has never been vaccinated. The 19-year-old attended Alabama public schools and received a religious exemption from the Alabama state health department. The University of Alabama-Birmingham also exempted Gale from its vaccine requirements during the 2020-2021 school year but won’t apply the same exemption for the upcoming year, according to her lawyer.”If they decide to give her a religious exemption, that will be the end of it,” said Hiram Sasser, executive general counsel for First Liberty Institute, based outside of Dallas. “If not, we will have to communicate with them through a lawsuit.””In compliance with applicable law, we do provide religious exemptions for immunization requirements,” a spokeswoman for the school said. The university does require students provide proof of immunization against certain diseases, although there is currently no Covid vaccine mandate for the fall semester.For those enrolled in school, there are many vaccination requirements already in place to prevent the spread of diseases such as polio, diphtheria, tetanus and whooping cough.All 50 states have at least some vaccine mandates for students attending public schools and even those attending private schools. In every case, there are medical exemptions and, in some instances, there are religious or philosophical exemptions, as well.Rutgers University, in New Brunswick, New Jersey, said it will now mandate Covid vaccinations for its 71,000 students.”Adding Covid-19 vaccination to our student immunization requirements will help provide a safer and more robust college experience for our students,” Rutgers President Jonathan Holloway said in a statement.”We are committed to creating a safe campus environment in fall 2021, and to support the health and safety for all members of the Rutgers community, the university has updated existing immunization requirements for students to include the Covid-19 vaccine,” a spokesman for the university added.Sara Razi, a 21-year-old junior at Rutgers, is challenging that requirement.”I’m not anti-vax, I’m anti-mandate,” she said. “My education should not be restricted based on my personal decision to receive the Covid-19 vaccination.Vaccinations are a personal and a private choice and students should have the right to choose whether or not they want to take a vaccine that is experimental.Sara Razistudent at Rutgers University”Vaccinations are a personal and a private choice and students should have the right to choose whether or not they want to take a vaccine that is experimental,” Razi added. “Therefore, a public institution like Rutgers should not have the right to dictate a student’s personal decisions.”Razi, who has received other immunizations in the past, said she hasn’t decided yet whether she will get a Covid shot. In the meantime, she will be participating in a rally on campus, protesting the school’s mandate.The political science major from Freehold, New Jersey, is also a member of Young Americans for Liberty, a libertarian group active on nearly 400 college and university campuses, including Rutgers.Rutgers has said it will grant exemptions, for medical or religious reasons, although requests will be evaluated on a case-by-case basis. “There are a lot of people who are hesitant, that doesn’t mean they don’t want to get the vaccinated,” said Brittany Kmush, assistant professor of public health at Syracuse University.”This pandemic has become so politicized and it’s really unfortunate that health outcomes have been tied to political parties,” she added.Colleges need to offer information and education so families can have their concerns addressed. “Just the opportunity to listen to people and give them a place to voice their concerns,” Kmush said, “that would be helpful.”Subscribe to CNBC on YouTube. More

People wearing protective face masks, following an outbreak of the coronavirus, are seen in front of the Giant Olympic rings at the waterfront area at Odaiba Marine Park in Tokyo, Japan, February 27, 2020.Athit Perawongmetha | ReutersArthur L. Caplan is the founding head of the Division of Medical Ethics at NYU School of Medicine in New York City and Lee H. Igel is a clinical professor in the NYU Tisch Institute for Global Sport.Pfizer and BioNTech are donating doses of their Covid-19 vaccine to athletes and delegations heading for the Tokyo Olympic and Paralympic Games this July. With so many people around the world still waiting for a jab and the pandemic not letting up in more than a few regions, should Olympians be jumping the vaccine line? Yes — and they ought to get a running start with a tough, mandatory program as soon as possible.The offer to donate the doses came up during a recent conversation that Pfizer CEO Albert Bourla was having with Japanese Prime Minister Suga Yoshihide. That led that Japanese government into discussing the opportunity in a meeting with the International Olympic Committee. The IOC then worked with Pfizer and BioNTech on a memorandum of understanding. It will have National Olympic Committees across the globe — 206 in all — coordinate with their local governments to administer vaccinations to athletes and delegates who are eligible for them.  Given the two-shot schedule, they need to start now.Japan is planning to host a total of about 15,000 athletes at the Olympic and Paralympic Games. Several thousand more people who will travel as part of the delegations will join them, even as numbers are limited due to pandemic regulations. Some of those heading to Tokyo will have been vaccinated already. Many, however, will have not yet had access to a vaccine. Others will have refused to take it because they are hesitant or don’t believe in its safety.How many thousands of doses will end up being provided to the Olympic movement remains to be seen. Pfizer, BioNTech, and the IOC have said that those doses will be in addition to amounts already set to be supplied to different countries. But many people are wondering, if the pharmaceutical firms can produce extra vaccines for Olympic allotment, shouldn’t those doses go to people who are at greater risk for severe illness or death if they contract Covid?   That is a fair question, but it misses an important reality: the Games are on pace to take place as scheduled. This despite the fact that Tokyo and surrounding prefectures are under a government-mandated state of emergency because of high Covid infection rates.  But Japan is too far down the road to cancel the Games, which were already postponed once.At a cost of more than $26 billion, the coming version of the Tokyo Olympics is the most expensive Summer Games ever. True, a majority of the Japanese public — about 60%, according to Yomiuri Shimbun polling, and up to 80%, according to polls cited by the Associated Press — opposes holding the Games. Doctors and nurses are protesting, and employees in at least one hospital posted signs in windows pleading for the Games to be canceled, because of overcapacity. But the money invested, not public health concerns, are now driving events. Unless a shock catastrophic event takes place, the Games will go on.The Olympic festival, its athletes and delegates, and registered media and broadcast teams will be flowing into and around into Japan in late July. Even if Tokyo reduces the infection rate to a more manageable level in time for opening ceremonies, allowing thousands of unvaccinated people to enter and move about is irresponsible. It risks real strain on health care and public safety systems in the Olympic venues and throughout the city, in a nation that has one of the highest rates of vaccine hesitancy and lowest rates of vaccine confidence in the world.The IOC will not be requiring athletes and delegates to have received a vaccine in order to participate in the Games. That is flat out wrong, given the danger of spreading new strains around the world when participants return home from the Games. Athletes, coaches, delegates, media, and suppliers, should be required to take the two-shot vaccine doses being offered. There is a need to keep as many people as safe as possible, and vaccines can help greatly in that regard.Authentication by a physician that a person has been vaccinated a minimum of one month before the Games should be part of the protocol. So should frequent testing just prior to departure, on arrival, and throughout the Games, as should maintaining a tight bubble at all Olympic sites, venues and lodgings.Olympic athletes and their support staff can be seen as “essential workers,” in that their participation in the Games can be seen by the world as a sign of good things happening in a bleak time. As IOC President Thomas Bach said, they can “lead by example … and send a powerful message that vaccination is not only about personal health, but also about solidarity and consideration of the wellbeing of others in their communities.”Arguing about canceling the Games is over. They are going to happen. The organizers and athletes have about a month from now to insure their safety, the safety of Tokyo, and the safety of the world. Vaccination, testing, and quarantine are the key tools to aligning public health with the world’s desire for a bit of relief from a deadly plague. Let’s hope the IOC, local organizing committee and Japan get this right. More

Rendering of Overtime Elite’s new basketball campus in Atlanta.Media company Overtime has selected Atlanta to host its basketball league that will pay teen players over $100,000 a season. The company is also constructing a new building for the games.Overtime Elite, which will exclusively feature high-school-level players between the ages of 16 and 18, released the rendering of a 103,000-square-foot complex in Atlanta’s Atlantic Station section. It said players will be housed on the campus, which will include personal living space and room for education courses. The project is expected to be complete by OTE’s debut in September.In a statement announcing the move, Aaron Ryan, OTE commissioner and president, said Atlanta’s “diverse population, vibrant business community and rich culture” stood out in the location search. Overtime estimated the construction project would add 400 jobs in Atlanta and said at least 30 percent of those jobs would be “diverse hires.”Atlanta mayor Keisha Lance Bottoms said, “This exciting announcement underscores that Atlanta is still a great place to do business. Overtime Elite will bring several well-paying jobs to our city, generate millions of dollars in economic impact and expand mentorship and programming opportunities for our young people. We are pleased that Overtime Elite has chosen Atlanta to be its permanent home, and we look forward to welcoming the next generation of basketball stars to our city.”Overtime launched OTE in March, and the league allows players to profit from basketball while also permitting them to capitalize on their personal brands via name, image, likeness. OTE plans to offer players education courses, life training, and financial literacy. The league will also pay an additional $100,000 for college expenses should players not pursue the professional route.Launched in 2016 by William Morris Endeavor executives Dan Porter and Zachary Weiner, Overtime’s revenue comes from two sources. One is indirectly aligning with brands by integrating them into its online media content and making money off video ads. The other is direct revenue via e-commerce.In April, Overtime raised $80 million from investors, including Jeff Bezos’ investment firm, global entertainer Drake, Reddit co-founder Alexis Ohanian and several National Basketball Association players. To date, the Brooklyn-based company said it raised more than $140 million.”The breadth and diversity of this investment group, including leaders from business, entertainment, technology and sports, speaks to Overtime’s remarkable growth and our future trajectory,” said Porter in April. “We believe this is just the tip of the iceberg, as we develop new ways for Overtime to engage with and entertain the next generation of athletes and fans.” More