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Boeing’s more than 32,000 unionized machinists walked off the job on Sept. 13.
Monday’s vote on a new labor deal will be their third since September and marks the company’s fourth offer.
Boeing has raised more than $20 billion as the strike halts most of its production.

Boeing workers from the International Association of Machinists and Aerospace Workers District 751 gather on a picket line near the entrance to a Boeing production facility on the day of a vote on a new contract proposal during an ongoing strike in Renton, Washington, U.S. October 23, 2024. 
David Ryder | Reuters

Boeing’s more than 32,000 striking machinists on Monday will vote for the third time on a contract proposal.
If a simple majority approve the offer, it would end the more than seven-week work stoppage that has halted most of the struggling company’s airplane production, another curve ball in what executives had once cast as Boeing’s turnaround year.

The proposal includes 38% raises over four years, up from the 35% increase Boeing proposed and workers rejected late last month, extending the strike. The deal that kicked off the strike in September had 25% raises, while the union had originally pushed for pay increases of about 40%.
Boeing said machinist pay will average $119,309 at the end of this contract proposal.
Workers have complained about the skyrocketing cost of living in the Seattle area, where most of Boeing’s aircraft are produced.
But the union, upon unveiling the proposal last Wednesday, warned this deal might be as good as workers are going to get.
“In every negotiation and strike, there is a point where we have extracted everything that we can in bargaining and by withholding our labor,” the International Association of Machinists and Aerospace Workers District 751 said in a statement. “We are at that point now and risk a regressive or lesser offer in the future.”

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On Saturday, the union told workers that it is “truly the time to lock in these gains and work to build more in future negotiations. You can confidently declare victory, vote yes for this agreement, and build on this for generations to come.”
Boeing CEO Kelly Ortberg, who took the reins in August, also urged workers to come back to work.
“I know the strike has been difficult for you as well as for our customers, suppliers, communities and all who work at Boeing,” he said in a staff note on Friday. “It’s time we all come back together and focus on rebuilding the business and delivering the world’s best airplanes. There are a lot of people depending on us.”
Boeing has raised more than $20 billion to shore up its finances. More

Singapore Airlines plans to add a four-seat first class to its Airbus A350-900 ultra-long range aircraft that are used on routes like the more than 18-hour flight between New York and Singapore.
The carrier also plans to grow its business class cabin on those aircraft, and retrofit other long-range Airbus A350s with new seats.
Some large airlines have done away with international first class in favor of larger business-class cabins.

Singapore Airlines new business-class seats.
Courtesy: Singapore Airlines

Singapore Airlines is planning to add a four-seat first class to the Airbus aircraft it uses for its longest routes, a bet to attract high-spending travelers to flights that can top 17 hours.
The carrier will add the new seats to seven Airbus A350-900 URLs, or ultra-long-range aircraft that it uses for lengthy trips, including its longest, between New York and Singapore. It will also revamp its cabins on long-haul Airbus planes with new business class seats that will likely include a suite with a sliding door, a popular design carriers are increasingly adopting to sell privacy as an onboard perk.

Singapore said the new first- and business-class seats will have new in-flight entertainment but the carrier didn’t disclose many details about the new cabins. CEO Goh Choon Phong said in a news release that they will “push the boundaries of comfort, luxury, and modernity.”
Airlines have been investing billions of dollars to revamp their premium cabins to chase travelers willing to shell out for more space on board. They range from international airlines Singapore Airlines to smaller carriers like JetBlue Airways, whose long-range twin-aisle jets used for trips across the Atlantic feature suites with sliding doors.

Singapore’s retrofit plans also include new cabins for 34 long-range Airbus A350s, part of a S$1.1 billion (about US$835 million), overhaul it plans to start putting into service in mid-2026. Those will still have 42 business-class seats, 24 premium economy seats and 192 in standard economy, up from the 187 economy seats it currently lists as the aircraft’s configuration.
The ultra-long-range-airplanes now have only business class and premium economy cabins. After the new cabin design with first class is installed, total business class seats will go up to 70 from 67 and the airline will offer 58 premium economy seats, from the 94 it currently offers, according to the carrier’s website.
Most U.S. carriers have already done away with long-haul first-class cabins, or are in the process of doing so, in favor of larger business-class.

American Airlines Boeing 787-9 Flagship Suite
Source: American Airlines

American Airlines is retrofitting some of its Boeing 777s to include a 70-seat business class instead of separate first and business-class cabins, and will upgrade its business-class seats on 777s and Boeing 787 Dreamliners to designs that include sliding doors. Supply chain issues have slowed some retrofits amid demand for premium-seats post-pandemic throughout the industry.
Some carriers, however, plan to keep first class, at least on some routes. German carrier Lufthansa’s new first class “suites” will debut on Nov. 9. More

Fares between the U.S. and Europe are low even for the slower late-fall and winter months.
The drop comes as airlines have added service in recent years to cater to post-pandemic travel demand.

A tourist takes a photo as the Acropolis’ Propylaea are seen in the background, in Athens, Greece, on June 28, 2024.
Elias Marcou | Reuters

Flights between the U.S. and Europe have not been this cheap in three years, when many countries were just lifting Covid-19 era rules.
Fares are low even for the traditionally slow late-fall and winter months outside of major holidays.

“It is brutal to fill seats during these times of year,” said Brett Snyder, who writes the Cranky Flier travel industry site.
According to flight-tracking company Hopper, “good deal” fares across the Atlantic to Europe are averaging $578 in November, down from $619 a year earlier.
It is the lowest deal fare for this month since 2021, when they were going for $479 and much of international travel was in a slump because of the pandemic, Hopper data shows.
In January, after the year-end holidays, 2025 fares are even lower: $558 compared to $578 for the same month in 2024, though higher than $488 in January 2022, according to Hopper.
U.S. domestic airfare, on the other hand, is more expensive compared with last year in every month from November through March.

Many airlines from financially troubled Spirit Airlines to profitable Southwest Airlines have cut flights or trimmed growth plans into next year, which has helped keep U.S. fares firm. Aircraft scarcity is also limiting airlines from adding many flights.
There are also some periods of weaker demand overall, executives at the largest U.S. carriers, Delta Air Lines, United Airlines and American Airlines have said, calling out the week before and after the U.S. presidential election on Tuesday.

How airlines got here

Carriers raced to add seats between the U.S. and Europe to cater to post-pandemic travel demand.
That buildup was not just during the peak months. Executives noted that they are seeing more shoulder-season demand to Europe as travelers look to escape scorching summer temperatures and crowds. As a result, they have also added flights outside of peak periods.
Airline capacity between the U.S. and Europe in the fourth quarter is marginally lower than last year, but it is higher than in 2019 and nearly double the amount in the same period of 2021, according to Cirium.
“I expect airfare [to Europe] to be low into next year,” said Hayley Berg, Hopper’s lead economist.
Now, on the heels of two big years for European travel, many customers are fresh off their big trips to popular destinations such as Spain and Italy, which means fewer people to fill seats in the offseason.
“It’s not as though there is so much low-hanging fruit and where airlines could print money hand-over-fist like last year,” said Scott Keyes, founder of travel app Going, which was previously known as Scott’s Cheap Flights.
Airlines traditionally discount flights in the offseason, but they are even cheaper this year.
“That’s the tell,” Keyes said. “When they’re having to go out and discount, they’re having to juice the demand.”
So that travelers do not get bored with European vacation mainstays when next year’s peak warm-weather travel season rolls around, airlines are trying new things. United Airlines has noted many customers have already taken trips to major European cities and the airline plans to expand its schedule next year to more off-the-beaten-path destinations such as Greenland and Mongolia.
“We’re also able to do just as well financially outside of our partner hubs,” United’s Chief Commercial Officer Andrew Nocella said on an earnings call last month. “So we look across the globe, we look for new destinations, we look for hot destinations and destinations, most importantly, we can make money in.”

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Disney’s domestic theme parks have already begun to transition from Halloween decorations to Christmas colors.
The effort is planned over the course of 12 months and involves a number of different departments from the horticulture team and tech services to crane operators, truck drivers, aerial lift drivers and even culinary experts.
October and December are two of the company’s most popular travel months for the parks, according to Gavin Doyle, founder of MickeyVisit.com.

A staple of Disney’s theme park’s celebrations, the giant Mickey pumpkin statue towers over guests on Main Street.

It’s time for Disney parks to swap pumpkins for poinsettias.
In the thick of its busiest season, Disney’s domestic theme parks have already begun to transition from Halloween decorations to Christmas colors. The transformation starts to take shape practically overnight, with warm autumn banners traded out for festive green garlands. The full metamorphosis takes about six weeks.

About two weeks before Halloween, Disney’s crew begins installing “inconspicuous” elements for the holiday season, such as lighting rigs. The effort is planned over the course of 12 months and involves a number of different departments, from the horticulture team and tech services to crane operators, truck drivers, aerial lift drivers and even culinary experts.
Most of the installation is completed during overnight hours when the park is closed.
“While every day is special at a Disney theme park, Halloween and the holidays are two very magical seasons, and our guests keep coming back year after year for both continued traditions and new surprises,” said Disneyland Resort President Ken Potrock. “These only-Disney-can-do experiences happen because of our passionate cast members, who make magic while most of us are sleeping — delivering seamless and wildly creative transformations of our parks throughout the year.”

Mickey Mouse poses during Mickey’s Not-So-Scary Halloween Party.

Starting Nov. 8 at Walt Disney World in Orlando, Florida, and Nov. 15 at the Disneyland Resort in Anaheim, California, Disney’s slate of winter holiday offerings will be in full swing — from sparkling ornamented trees and glitzy character costumes to limited-time food and beverage options and exclusive merchandise.
For Disney, these holidays are big business, drumming up significant revenue and traffic.

October and December are two of the company’s most popular travel months for the parks, according to Gavin Doyle, founder of MickeyVisit.com.
“Traditionally, it would have been summer, but it’s actually evolved to be these two months where there’s additional layers of offerings and it’s something unique on top of that,” Doyle said. “It kind of fits into that Disney vault strategy. … This is something that comes out, and then people are really excited about it for a limited time.”

Festive food options arrive just in time for the holidays at Disney’s theme parks. 

Disney’s experiences division — composed of parks, cruises, hotels and consumer products — generated $9.13 billion in revenue during the period from October through December 2023. In other quarters of 2023 and 2024, the division generated anywhere between $7 billion and $8.3 billion.
This year, Mickey’s Not-So-Scary Halloween party kicked off Aug. 9 in Florida and Oogie Boogie Bash, a big trick-or-treating event, started Aug. 25 in California — extending the Halloween crowds into the company’s summer quarter. Both events ran through Oct. 31.
The end of the year also brings a lot of repeat visitation, especially from local parkgoers, he said. In building the infrastructure to accommodate these decorations and limited-time specials, Disney has created a tradition for its guests, who bake it into their yearly plans.
The annual changes to character costumes, food and drink options, merchandise and other ambiance updates give attendees something new to explore.

The holiday overlay of Disney’s Haunted Mansion attraction features Jack Skellington from “The Nightmare Before Christmas.”

With Halloween now over, Disney has turned its attention to the winter holiday season. That includes special holiday changes to rides and attractions as well as Christmastime parades and fireworks.
At Disneyland, holiday overlays for Sleeping Beauty’s Castle, It’s a Small World and Haunted Mansion will debut Nov. 15. Seasonal parades, fireworks and festivals will also launch, and Santa Claus will take up residence at the Redwood Creek Challenge Trail.
At the Walt Disney World resort, Mickey’s Very Merry Christmas Party launches Nov. 8 and Jollywood Nights start Nov. 9. At the same time, the Florida park will debut its Christmastime fireworks, parade and themed character meet-and-greets. Space Mountain will be getting a holiday overlay, as will the Jungle Cruise ride, which will temporarily become Jingle Cruise, and other attractions.

Mickey and Minnie Mouse pose during Jollywood Nights. More

Apple committed about $1.5 billion to satellite communications company Globalstar to fund the expansion of iPhone services.
The tech giant has already been spending hundreds of millions for Globalstar services, which enabled the 2022 rollout of iPhone emergency satellite texting.
The new funds will allow Globalstar to purchase new satellites and expand its ground infrastructure.

Sofia Pitt, CNBC

Apple committed about $1.5 billion to satellite communications company Globalstar to fund the expansion of iPhone services, the companies disclosed in a securities filing on Friday.
The tech giant’s deal with Globalstar includes $1.1 billion in cash, of which $232 million will go toward the satellite company’s current debt, and a 20% equity stake. The deal is expected to close on Tuesday.

Apple has already been spending hundreds of millions for Globlastar services, which enabled the 2022 rollout of iPhone emergency satellite texting.
It is one of several efforts in the direct-to-device, or D2D, satellite connectivity market — which provides service to unmodified devices such as smartphones directly from space — with other projects underway from SpaceX, AST SpaceMobile, Iridium, Lynk and EchoStar.
Globalstar stock jumped 31.4% in Friday trading to close at $1.38 a share.

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In the filing, Globalstar noted that it will continue to allocate about 85% of its network capacity to Apple.
The new funds will allow Globalstar to purchase new satellites and expand its ground infrastructure. Globalstar currently operates 31 satellites and has already ordered as many as 26 satellites to replenish and upgrade its constellation in low Earth orbit.

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An outage or loss of GPS satellites is estimated to cost the U.S. military and economy upward of $1 billion a day.
Pentagon leaders believe that estimate is conservative, leading the U.S. Space Force to kick off a new roughly $2 billion satellite program to build a backup GPS.
For startup Astranis, one of the four companies selected for R-GPS, the program marks an expansion beyond satellite internet, as it announced its new line of Nexus satellites.

A depiction of Nexus satellites in a medium Earth orbit constellation.

The U.S. Air Force began deploying the Global Positioning System — more commonly known as GPS — nearly 50 years ago, satellites which have become critical infrastructure for both the military and the economy.
Since then, GPS is estimated to have generated more than $1.4 trillion in economic benefits, according to a Commerce Department study. But the agency warned that an “outage could potentially have an economic impact of $1 billion a day.” 

Pentagon leaders believe those losses are a conservative estimate, leading the U.S. Space Force to kick off a roughly $2 billion satellite program known as the Resilient Global Positioning System. Called R-GPS for short, the program is intended to provide an alternative, backup network for the current satellite system.
“[GPS is] vitally important to everything we do day-to-day, from the stock market, for timing of every transaction, to the crops we field,” Lt. Col. Justin Deifel, leader of R-GPS at the Space Force’s Space Systems Command, told CNBC.
“It’s like water and electricity. … It’s a utility of the economy and a utility of a warfighter that we need to make sure is available,” Deifel added.

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The importance of the existing 31 GPS satellites in orbit, as well as the potential threat in space from U.S. adversaries like Russia and China, has led the Pentagon to prioritize building the alternative R-GPS network — and the Space Force has turned to the commercial space industry to do so.
Last month, the branch awarded four companies with contracts for R-GPS design concepts: Astranis, Axient, L3 Harris and Sierra Space.

Astranis branches out

A rendering of a Nexus satellite in assembly.

For startup Astranis, which launched its first “MicroGEO” spacecraft last year, the R-GPS program marks an expansion beyond satellite internet into the market for positioning, navigation and timing, or PNT, services.
“We’ve started to see a huge push towards proliferation in higher orbits by the U.S. national security community,” Astranis CEO John Gedmark told CNBC. “Now the Department of Defense has recognized all of the fantastic things that we can do in high orbits with a next-generation small satellite approach.”
As it expands as a company, Astranis is announcing its new Nexus product line of PNT satellites, its answer for the R-GPS program. Gedmark noted they use the same type of spacecraft as the company’s broadband satellites.

A rendering of a Nexus satellite in orbit above the U.S.

Additionally, as R-GPS satellites will operate in medium Earth orbit, like the current GPS constellation, the Nexus product line marks a widening of where Astranis plans to deploy and operate its spacecraft.
The company, having raised $750 million since its founding in 2015, has announced deals for 12 of its internet satellites, 10 of which are expected to launch to geosynchronous orbit by the end of next year.
“We knew pretty early on that this platform that we developed could be used for other missions than broadband telecommunications and the Resilient GPS program has just come along as a perfect example of that,” Gedmark said.
Gedmark sees R-GPS as “a multi-billion dollar opportunity,” given that Space Force wants to build a full constellation of at least two dozen satellites.

The R-GPS plan

Space Force used a novel Pentagon funding authority, called “Quick Start,” to get the R-GPS program going.
In less than six months, the program got approval from the deputy secretary of defense, conducted market research, hosted companies for an industry day, solicited bids and awarded initial contracts — a process the military notes often takes as long as three years for space programs.
“The speed with which they’ve moved on this program is unprecedented. … We’ve never seen the Department of Defense move that fast before,” Gedmark said.

A rendering of a Nexus satellite in orbit.

R-GPS handed out $40 million total to fund the design studies. The companies will have an eight-month “phase zero” period to start their work that ends in spring, SSC’s Deifel explained.
“The total current budget, when you think of just recurring engineering costs: We’re looking at $50 [million] to $80 million per satellite and procuring upwards of 24 satellites. So the quick math is $1.2 [billion] to $1.9 billion for 24 satellites, over the course of the next five to six years,” Deifel said.
While the budget doesn’t currently include “non-recurring engineering costs,” Deifel said he expects those expenses will be significantly less than the design costs.
Space Systems Command wants to buy and deploy the R-GPS satellites in batches of eight, with the first set launching as soon as 2028.
As the design reviews wrap up, SSC plans to select one or more of the companies to move forward with the program into the construction stages.
While Astranis’ first satellite malfunctioned last year due to a third-party issue with its solar arrays, the company’s experience operating in the distant geosynchronous orbit has Gedmark confident about its chances in the R-GPS program.
“We are the only company that has proven on orbit a spacecraft of this class — a low cost, [radiation]-hardened satellite for high orbits,” Gedmark said. More

Greek media company the Antenna Group has begun talks to acquire fellow media company Time from Marc Benioff.
No deal is assured and the discussions are still early.
Benioff acquired Time for $190 million in 2018.

Salesforce CEO Marc Benioff attends the TIME100 Gala at Jazz at Lincoln Center in New York on April 26, 2023.
Dimitrios Kambouris | Getty Images

Greek media company the Antenna Group is in talks to acquire fellow media company Time from Salesforce co-founder Marc Benioff, according to people familiar with the matter.
No deal is assured and the talks are still early, said the people, who asked not to be named because the discussions are private.

“There is no agreement to sell Time,” said a Time spokesperson, who declined to comment on the talks with Antenna. An Antenna Group spokesperson didn’t respond for comment.
Benioff acquired Time in 2018 for $190 million. Early talks with Antenna have centered around a price of $150 million, one of the people said.
The talks come at a particularly turbulent time for legacy media companies, which are trying to stay afloat as digital-first assets amid competition with free services such as YouTube, TikTok and Instagram.
Comcast announced Thursday it is considering a spinoff of its cable network group. The Washington Post, owned by fellow tech billionaire Jeff Bezos, has lost more than 10% of its subscribers in recent days after deciding it wouldn’t endorse a candidate in the U.S. presidential election, according to NPR.
Benioff and his wife, Lynne, bought Time from Meredith Corp., which owned the magazine for less than a year.

“The Benioffs emerged as the best fit, willing to put journalistic integrity ahead of corporate gains,” Alan Murray, chief content officer of the Time Inc. brands at Meredith, said at the time.
The Antenna Group nearly acquired Vice Media in 2022 before the company declared bankruptcy. Most of its investments have been Europe-centric, though it has invested in Arianna Huffington’s technology company Thrive Global.
Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.
Correction: This article has been updated to correct the name of media company Time.

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Attorneys and advisors to family offices and high-net-worth families said they’re seeing strong demand from clients looking for second passports or long-term residencies abroad.
The American rich have been increasingly interested in leaving the U.S. since Covid-19, and wealth advisors said this time many of their wealthy clients are taking action.

Ferragudo, Portugal.
Gonzalo Azumendi | Stone | Getty Images

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
A growing number of wealthy Americans are making plans to leave the country in the run-up to Tuesday’s election, with many fearing political and social unrest regardless of who wins, according to immigration attorneys.

Attorneys and advisors to family offices and high-net-worth families said they’re seeing record demand from clients looking for second passports or long-term residencies abroad. While talk of moving overseas after an election is common, wealth advisors said this time many of the wealthy are already taking action.
“We’ve never seen demand like we see now,” said Dominic Volek, group head of private clients at Henley & Partners, which advises the wealthy on international migration.
Volek said that for the first time, wealthy Americans are far and away the company’s largest client base, accounting for 20% of its business, or more than any other nationality. He said the number of Americans making plans to move abroad is up at least 30% over last year.
David Lesperance, managing partner of Lesperance and Associates, the international tax and immigration firm, said the number of Americans hiring him for possible moves overseas has roughly tripled over last year.
A survey by Arton Capital, which advises the wealthy on immigration programs, found that 53% of American millionaires say they’re more likely to leave the U.S. after the election, no matter who wins. Younger millionaires were the most likely to leave, with 64% of millionaires between 18 and 29 saying they were “very interested” in seeking so-called golden visas through a residency-by-investment program overseas.

Granted, the interest in second passports or residencies has been rising steadily among the American rich since Covid-19. Whether it’s retiring to a warmer, cheaper country or being closer to family abroad, the wealthy have plenty of nonpolitical reasons to want to venture overseas.
The ultra-wealthy also increasingly see citizenship in one country as a concentrated personal and financial risk. Just as they diversify their investments, they’re now creating “passport portfolios” to hedge their country risk. Others want a non-U.S. passport in case they’re traveling to dangerous countries or regions hostile to the U.S.

Yet the elections and the political climate have accelerated and added to the push by wealthy Americans to consider a Plan B abroad. Lesperance said that for more than three decades, his American clients were mainly interested in moving overseas for tax reasons. Now, it’s politics and fear of violence, with next week’s election turbocharging those fears.
“For some of them, the primary thing is ‘I don’t want to live in a MAGA America,'” Lesperance said. Others are worried about violence if Donald Trump loses, or Vice President Kamala Harris’ plan to tax unrealized capital gains for those worth more than $100 million. While tax analysts say the unrealized gains plan has little chance of passing Congress, even with a Democratic majority, Lesperance said it’s still a risk.
“Even if there is only a 3% chance that it happens, you still want to take out insurance,” he said.

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Attorneys say the wealthy also cite mass school shootings, the potential for political violence, antisemitism, Islamophobia and the government’s soaring debts as reasons to leave.
When it comes to destinations, Americans are looking mainly to Europe. According to Henley, the top countries for Americans looking for residency or second citizenships include Portugal, Malta, Greece, Spain and Antigua. Italy has also become popular for Americans.
“The love affair between Americans and Europe has been going on for very long time,” said Armand Arton, of Arton Capital. “It comes with a price, and they are totally fine investing couple hundred thousand dollars or a half million into a property or a fund.”
The rules and costs, however, are changing fast. While mass immigration has become a hot-button political issue across the world, some politicians in Europe have started to push back against golden visas that give the wealthy citizenship or residency purely based on investments.
Portugal, for instance, faced a backlash after a flood of foreigners poured in the Algarve and bought beach properties as part of the golden visa program. With property prices soaring by 15%, the government changed the rules, increasing minimum investment thresholds and removing residential property as an investment category.
Italy this summer doubled its flat tax on the overseas incomes of wealthy foreigners who transfer their tax residency to Italy, to 200,000 euros ($217,000). The change followed a wave of wealthy new migrants who came for the program and drove up Milan property prices.

For now, Malta remains the go-to second passport for the American rich. While expensive, at about $1 million to $1.2 million all-in, Malta’s investment citizenship program offers citizenship and unrestricted travel and residency in Malta and by extension the European Union, according to immigration attorneys. The EU has been challenging the Malta program in court, but most immigration attorneys expect the country to prevail.
The Caribbean is increasingly popular for Americans who simply want a second passport. Buying an approved piece of real estate in Antigua and Barbuda for more than $300,000 puts you on a path for citizenship, which allows freedom to travel to Hong Kong, Russia, Singapore, the U.K. and Europe, among other countries. St. Lucia is also increasingly popular, attorneys say.
Americans with ancestry in Ireland, Italy and dozens of other countries can apply for so-called lineage citizenship, which is typically far cheaper than an investment visa. Some countries, like Portugal, also offer retirement visas, which allow entry and a path to citizenship.
Don’t expect to get any citizenship or residencies right away. With attorneys and countries inundated with so many applications, and so many different background checks and approvals required, the process can take months or even a year or more. And that waiting list could grow longer depending on the election results.
“It’s getting crowded,” Lesperance said. “And I’m sure I’m going to get a bunch more on Nov. 6 or 7.”

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