Business

The Valuable 500, a business coalition, released its list of the top 10 most accessible cities in the world. 
The report cited a survey conducted among 3,500 individuals with disabilities, who rated cities based on “transport links, proximity of accommodation to attractions, shops, and restaurants, and the availability of information about accessibility.”

The survey was conducted in August and September, and involved participants from five countries — the U.K., United States, Japan, China and Australia. 
“Our research shows that across both the public and private sectors in the travel and tourism industry, these cities consistently score well in the accessibility rankings,” said Caroline Casey, the founder of the Valuable 500. 

 “However … accessibility arrangements for people with disabilities remain an afterthought for the travel and tourism industry — which is why we’re looking into every aspect of the industry journey for people with disabilities in the research we have commissioned.”
Martin Heng, a travel writer who wrote the report, added: “Although physical accessibility is important, what’s so significant is that across all territories people with disability choose travel providers based on being treated with respect and understanding of their needs.”

Asia 

Singapore (Singapore)

Singapore’s aging population is “the main impetus” for its accessibility, said the report.
The city-state’s accessibility code includes mandates like ensuring the safety and accessibility of escalators and elevators, and the provision of accessible toilets at the entrance level of all buildings, it added.
Over 95% of pedestrian walkways, taxi stands and bus shelters in Singapore are also accessible to wheelchair users, seniors or other individuals with disabilities. 
Shanghai (China)
As much of its development happened in recent years, modern Shanghai’s pavements are in “good condition, with plenty of curb cuts,” said the report. Curb cuts are ramps connecting sidewalks to the street. 
The city also has the largest metro network in the world, which is fully accessible to wheelchair users. The survey found that 39% of respondents who chose Shanghai did so because of its accessible public transport.

The Pudong skyline in Shanghai.
xPACIFICA | The Image Bank | Getty Images

Tokyo (Japan) 
While 74% of respondents chose Tokyo for its accessible transport, tactile ground surface indicators — which were invented in Japan — are also “ubiquitous” in the city, said the report. 
Such indicators help warn visually impaired pedestrians of hazards and aid navigation. 
“The main streets are well-endowed with kerb cuts, and although smaller streets often have no pavement so wheelchair users share the roads with cars, bicycles and other pedestrians, drivers are a lot more considerate than in other countries,” it added. 

United States

Las Vegas
The “sheer number” of accessible hotel rooms in Las Vegas makes the city a stand-out choice for travel. 
“Some, like the Bellagio, offer dozens of accessible rooms, some offer hundreds – across all price brackets and room types, including Las Vegas’ famed themed rooms and suites,” Heng wrote. 

Such rooms have features such as ceiling hoists, visual and vibrating alarms. 
The report found that casinos in Las Vegas also have trained personnel to assist individuals with disabilities at gaming tables, or even place bets for those who need assistance.
New York 
New York City scored highest in providing adequate information, which allows individuals with disabilities to “plan their trip and avoid disappointment.”
“The official guide to New York City has an accessibility page that hosts in-depth articles on different aspects of accessibility in the city, as well as accessible guides to some of its more prominent tourist attractions,” Heng said. 
“There’s also a searchable, filterable database of 1,500 points of interest – including tourist attractions, museums, galleries, hotels and restaurants – that gives basic accessibility information.”
Orlando
Orlando is well known for being home to iconic theme parks such as Walt Disney World, SeaWorld and Universal Studios Florida. 

Disney World’s Magic Kingdom in Orlando, Florida.
Joe Raedle | Getty Images News | Getty Images

According to the Valuable 500 report, all theme parks in Orlando provide not just physical accommodations, but also measures to avoid queues.
Of those who selected Orlando, 48% chose it for its wide variety of accessible accommodation, it added. 

Europe

Amsterdam (Netherlands)
Amsterdam’s advantage over other cities is its network of 400 kilometers of bike lanes, which wheelchair users can use for “a smooth ride” too, said the report. 
“In one of the most bike-friendly cities in the world, it’s even possible to rent adapted bikes – including ones that can incorporate a wheelchair,” it added. 
Almost all of the city’s tourist attractions are accessible too, except the Anne Frank House and Rembrandt House Museum. 

Amsterdam is one of the most bike-friendly cities in the world, with an extensive network of bike lanes.
Lechatnoir | E+ | Getty Images

Paris (France)
Paris is the host for the 2024 Olympic and Paralympic Games, which has given it “further impetus” to be more accessible, said the report. 
“In the lead up to the 2024 Games, the city is creating 15 accessible pilot districts around Olympic and Paralympic sites, enhancing access to public spaces, hotels, services, shops and so on.” 
Entry to many of the city’s museums is not only free to people with disabilities, they are able to jump queues as well, it added. 
London (UK)
London has displayed a “strong commitment” to accessible tourism, said the Valuable 500, ever since a 2018 study which showed that it contributes more than $17 billion to the tourism industry. 

“One of the main outcomes … has been the publication of a wealth of all-important information needed by disabled people to plan holidays and excursions,” it wrote.
More than half (57%) of survey respondents also chose London because of its accessible transport links.

Australia

Sydney
Like New York City, Sydney scores highly on its provision of information about accessibility. 
Home to the iconic Opera House and Harbour Bridge, “the vast majority” of Sydney’s attractions are also wheelchair-accessible, said the Valuable 500. 
All new and renovated buildings in the city are also mandated by law to cater for wheelchair access. More

Monday – Friday, 6:00 – 7:00 PM ET

It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

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Energy Transfer LP: “It’s got a nice yield. I do like the pipeline companies very much. ET’s a win.”

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Tellurian Inc: “I believe that it is a call option on natural gas.”

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Hurricane Nicole snarled Florida travel on Wednesday.
Orlando International Airport said it would suspend operations from 4 p.m. ET “until circumstances permit operations resume.”
Miramar, Florida-based Spirit Airlines, said it would waive change fees and fare differences for some flights.

The ocean is whipped up by Tropical Storm Nicole near Anglin’s Fishing Pier on November 09, 2022 in Lauderdale-By-The-Sea, Florida.
Joe Raedle | Getty Images

Hurricane Nicole snarled Florida travel Wednesday and was set to disrupt flights on Thursday as the storm prompted at least two airports to suspend operations.
Orlando International Airport said it would suspend operations from 4 p.m. ET “until circumstances permit operations resume.” Nearly 300 scheduled flights to Orlando, more than half the schedule, were canceled on Wednesday. More than 80% of the Thursday schedule for the airport was scrubbed.

Palm Beach International Airport said later Wednesday that flights in and out of the airport were canceled.
Miramar, Florida-based Spirit Airlines, said it would waive change fees and fare differences for Fort Lauderdale and Miami flights through Nov. 14 and Orlando flights through Nov. 16. The budget carrier said it would continue waiving change fees after that but that passengers would have to pay the difference in fare.

This GOES-East GoeColor satellite image taken at 2:36 p.m. EST and provided by NOAA shows Tropical Storm Nicole approaching toward the northwestern Bahamas and Florida’s Atlantic coastline on Tuesday, Nov. 8, 2022.

Other airlines including JetBlue, which has a large operation in Fort Lauderdale, and Southwest, American and Delta, also waived fees for travelers affected by the storm.
The storm is threatening the state about a month and a half after Hurricane Ian slammed into Florida, causing severe damage in the Fort Meyers and Naples areas and other parts of its Gulf Coast.
Spirit said Hurricane Ian cost it up to $15 million through the fourth quarter due to lower bookings and canceled flights.

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Rocket Lab delivered quarterly results on Wednesday that boasted record revenue, with the space company tacking on additional contract wins across its business.
The company reported third-quarter revenue of $63.1 million, up 14% from the second quarter.
The spacecraft and components business won a number of contracts during the third quarter as well.

An Electron rocket launches from the company’s New Zealand facility on Nov. 4, 2022.
Rocket Lab

Rocket Lab delivered quarterly results on Wednesday that boasted record revenue, with the space company tacking on additional contract wins across its business.
“The quarter ended strongly for Rocket Lab,” CEO Peter Beck said on the company’s conference call with investors.

The company reported third-quarter revenue of $63.1 million, up 14% from the second quarter, with an adjusted EBITDA loss of $6.9 million – which was 62% lower than the third quarter a year ago. It had $333.3 million in cash on hand at the quarter’s end.
Rocket Lab stock is down 61% this year as of Wednesday’s close of $4.74 a share.

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The space venture conducted three successful Electron rocket missions from its New Zealand facility during the quarter, bringing in $23 million in revenue. Rocket Lab has completed a company record of nine launches so far this year.
It expects to complete the first Electron launch from the U.S., a long-awaited mission from NASA’s Wallops facility in Virginia, in December after receiving a key certification from the space agency. That flight will launch satellites for HawkEye 360, the first of three launches contracted through Rocket Lab to deliver 15 satellites to orbit.
The company also expects to conduct a second Electron launch from Virginia within “weeks” of the first, for “an undisclosed satellite constellation operator.”

Rocket Lab’s broader Space Systems division brought in $40.1 million in revenue during the period. The spacecraft and components business won a number of contracts during the third quarter as well.
The company expanded on an existing contract with space company MDA, to support the Globalstar constellation that is being heavily utilized by Apple for iPhone satellite connectivity – with Rocket Lab building spacecraft, solar panels and radios. It will also operate a spacecraft control center as part of the agreement.
The company also won a pair of contracts worth $14 million to provide satellite separation systems for satellites being built by two companies for the Pentagon’s Space Development Agency, as well as a U.S. Space Force contract to supply solar power for three missile-warning satellites.
Additionally, Rocket Lab signed a research agreement with the Pentagon’s United States Transport Command to “explore cargo transport use” with its rockets.
Rocket Lab has begun production of the hardware for its forthcoming, larger Neutron rocket. Given needed research and development spending, Rocket Lab CFO Adam Spice said that “achieving and sustaining profitability can really only happen once we’ve gotten the majority” of work on Neutron completed. The rocket is expected to debut in 2024.
Beck emphasized on the call how work to reuse its existing Electron rockets will help make the next-generation vehicle successful.
“I wouldn’t be wanting to develop a reusable rocket without having all of this knowledge and experience of reentering launch vehicles,” Beck said.
The company forecast lower revenue for the fourth quarter, guiding to a range of $51 million to $54 million, citing an unspecified customer launch that was delayed to 2023.
Spice noted that Rocket Lab expects to conduct about 14 Electron launches next year.

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Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer on Wednesday warned that growth stocks could take another beating if the October consumer price index reading shows that inflation is still running rampant.
Investors will parse through the October report, set for release Thursday morning, for any signs that inflation has cooled.

CNBC’s Jim Cramer on Wednesday warned that growth stocks could take another beating if the October consumer price index reading shows that inflation is still running rampant.
“If we get a steaming hot CPI reading, you’re going to see more horror on your screen, so that’s why people sold ahead of it,” he said.

The CPI measures the prices for a basket of goods and services. Investors will parse through the October report, set for release Thursday morning, for any signs that inflation has cooled with the view that the Federal Reserve could then ease its brisk pace of interest rate hikes.
Stocks fell on Wednesday, weighed down by a crypto sell-off and uncertainty about which political party will gain control of Congress following the midterm elections. The market’s decline comes after three consecutive days of gains.
Cramer echoed his advice to investors in recent weeks to stay away from semiconductor and tech stocks, including names like Meta, Amazon, Apple, Netflix and Alphabet. 
“When rates go up, you immediately get this kneejerk sell-off in virtually everything, but especially in tech,” he said, adding: “Some of these companies are doing much better than others, yet they all trade the same.”
Disclaimer: Cramer’s Charitable Trust owns shares of Meta, Amazon, Apple and Alphabet.

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Major League Pickleball, which boasts owners such as LeBron James, will merge with the PPA’s week-old VIBE Pickleball League.
Last week, the PPA announced the creation of the VIBE Pickleball League with Mark Cuban as its first team owner.
On Tuesday, the league announced Anheuser-Busch as the first Fortune 500 company to purchase an MLP team.

Jorja Johnson of the Hard Eights celebrates a point with teammate Cierra Gaytan-Leach during the Major League Pickleball finals match against BLQK at Pickle & Chill on October 16, 2022 in Columbus, Ohio.
Emilee Chinn | Getty Images

Two rival pickleball leagues with big-time backers are joining forces.
Major League Pickleball and the Professional Pickleball Association’s new VIBE Pickleball League have agreed to merge, the organizations said Wednesday.

Financial terms of the deal were not disclosed. The combined league will continue to operate under the Major League Pickleball brand name and format as the rapidly growing sport surges in popularity.
“We have agreed to agreed to a strategic merger to unify the sport of pickleball as a global, co-ed, team-based league featuring the greatest players, biggest events, and visionary owners, MLP founder Steve Kuhn and PPA co-founder Tom Dundon said in a joint statement.

Dundon, a private equity investor who owns the NHL’s Carolina Hurricanes, purchased the PPA and Pickleball Central in January.
PPA and MLP have operated independently, under different formats: PPA was focused on an individual format, while MLP featured co-ed teams. Last week, the PPA announced the creation of the VIBE Pickleball League with Mark Cuban as its first team owner. VIBE said it would be team focused and co-ed, similar to what Major League Pickleball has been doing.
The PPA features top players such as Ben Johns, Tyson McGuffin and Anna Leigh Waters. Its individual-competition operations will continue.

“Coming together as one team league allows us to build much bigger events, offer more prize money, enhance player development, pursue larger media and sponsorship deals and, most importantly, grow the game we all love,” the statement said.
Pickleball has seen explosive growth, and businesses and big-name celebrities want a piece of the action.
In recent months, MLP has announced dozens of high-profile investors, including NBA superstars LeBron James and Kevin Durant, and Tom Brady and Drew Brees of NFL fame. On Tuesday, the league announced Anheuser-Busch as the first Fortune 500 company to purchase an MLP team.
Milwaukee Bucks co-owner Marc Lasry and entrepreneur Gary Vaynerchuk have both made investments in Major League Pickleball.

Talking about his investment in the sport in 2021, Lasry told Sports Business Journal: “I think you’re going to be shocked [by] where it is five years from now.”
Companies like Life Time Health Clubs are converting many of their tennis courts into pickleball courts and will begin hosting MLP tournaments. Other entrepreneurs are investing in multi-million dollar complexes.
Google searches for the sport are up more than 200% over the last five years, said equipment maker Selkirk.
“We are just getting started,” the leagues said in their joint statement Wednesday. “Today marks a real milestone in the evolution of pickleball. In a world desperate for more social connection and reasons to celebrate, we are so excited for this merger and what it means for our community and our beautiful sport.”

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Beyond Meat reported a wider-than-expected loss as demand for its meat substitutes tumbled.
Beyond has tried to revive demand by offering restaurants and grocery customers discounts.
In October, the company said it would cut 19% of its workforce, or roughly 200 employees.

Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products sit on a shelf for sale in New York City.
Angela Weiss | AFP | Getty Images

Beyond Meat on Wednesday reported a wider-than-expected loss for its third quarter as demand for its meat substitutes tumbled.
CEO Ethan Brown called the results “disappointing” in the press release. Cash-strapped shoppers are skipping Beyond’s burger, sausage and chicken substitutes and instead buying cheaper proteins, according to Brown.

Shares of the company were effectively flat in after-hours trading. The stock closed down 9% on Wednesday.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Loss per share: $1.60 vs. $1.14 expected
Revenue: $82.5 million vs. $98.1 million expected

Net sales dropped 22.5% to $82.5 million in the third quarter.
Beyond has tried to revive demand for its meatless burgers and sausages by offering restaurants and grocery customers discounts. However, lower sticker prices weren’t enough. The company said total pounds sold fell 12.8%, and net revenue per pound shrank 11.2%.
The company’s U.S. food service business was the only division to report sales growth, rather than declines, for the quarter. Beyond sold 5.6% more of its meat alternatives to restaurants, corporate cafeterias and stadiums. The company said pounds sold climbed 32.2%, meaning the growth likely came from offering attractive discounts.

U.S. grocery sales fell 11.8% in the quarter, driven entirely by shrinking demand.
Outside the U.S., its sales declines were even more stark, in part due to unfavorable foreign exchange rates. International grocery sales cratered 53%, while food service revenue dropped 42%. International markets accounted for roughly 35% of sales a year ago. In the third quarter, they only made up a quarter of Beyond’s total revenue.
The company reported a third-quarter net loss of $101.7 million, or $1.60 per share, wider than its net loss of $54.8 million, or 87 cents per share, a year earlier.
As Wall Street grows pessimistic about the company’s growth prospects, Beyond has been trying to become cash-flow positive by the second half of 2023. In October, Beyond announced it would cut 19% of its workforce, or roughly 200 employees. Just two months earlier, the company said it would lay off 4% of its workers.
“This is a difficult period economically across the country and across the world, so we are going to rightsize our organization to get through it,” Brown said.
He told analysts on the conference call that the company won’t launch another product like Beyond Jerky, which was part of a joint venture with PepsiCo. The meatless jerky was expensive and inefficient to produce and launch. It took two quarters to break even. Going forward, Beyond will only launch cash-flow positive products.
Brown said the company is also focusing on a more narrow set of food service and grocery opportunities to reduce operating expenses.
“We have a number of [fast-food] partners. We’ve narrowed our focus somewhat to a handful,” Brown said.
Beyond also faced turmoil inside its C-suite. Chief Operating Officer Doug Ramsey left the company after being arrested for allegedly biting another man’s nose in a parking garage. The company also eliminated the role of chief growth officer and saw its chief financial officer, Phil Hardin, depart for another job elsewhere.
For 2022, Beyond expects full-year sales between $400 million to $425 million, reiterating the lower forecast it released in October.
Correction: This story was updated to reflect that Beyond Meat lowered its sales forecast in October.

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Electric vehicle maker Rivian Automotive on Wednesday reaffirmed its 25,000-vehicle production target for 2022.
It said it plans to spend less to do it as the company reported third-quarter revenue that fell short of Wall Street’s estimate.
Rivian said it now has “over 114,000” preorders for its R1-series trucks and SUVs.

Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California. 
Justin Sullivan | Getty Images

Electric vehicle maker Rivian Automotive on Wednesday reaffirmed its 25,000-vehicle production target for 2022, but said it plans to spend less to do it as the company reported third-quarter revenue that fell short of Wall Street’s expectations.
Rivian cut its guidance for 2022 capital expenditures: It now expects its full-year capital expenditures to total about $1.75 billion, down from the $2 billion it guided to after the second quarter, as it shifts some planned spending to next year.

The company still expects its full-year adjusted loss before income, taxes, depreciation and amortization to come in at $5.4 billion, in line with the guidance it gave in August.
Shares of the company rose 7% in after-hours trading.
Here are the key numbers from Rivian’s third-quarter earnings report, compared with average Wall Street analyst expectations as complied by Refinitiv:

Revenue: $536 million, versus $551.6 million expected.
Adjusted loss per share: $1.57, versus an expected loss of $1.82 per share.

Rivian’s net loss for the third quarter was about $1.72 billion, a wider loss than the $1.23 billion it reported a year earlier.
As of September 30, the company had about $13.8 billion in cash remaining, down from $15.5 billion as of June 30. Rivian said while inflation has been a factor in its supply chain, it’s taking steps to reduce costs and slow spending on future product. It reiterated that it’s “confident” its cash hoard will last through 2025.

As part of its moves to slow spending, the company now expects to launch its upcoming smaller product platform, called R2, in 2026 rather than in 2025 as it had previously said. The R2 will be built in a new factory in Georgia.
Rivian said it now has “over 114,000” preorders for its R1-series trucks and SUVs, up from about 98,000 preorders as of Aug. 11. Those totals don’t include the 100,000 electric delivery vans ordered by Amazon in 2020.
Rivian said it’s added a second shift of workers at its Illinois factory, a key step toward boosting production volumes. It noted that the new workers are still coming online — but said that the second shift is already producing vehicles.
Rivian said on Oct. 3 that it produced 7,363 vehicles in the third quarter and delivered 6,584 vehicles to customers during the period. Year to date, through the third quarter, Rivian produced 14,317 vehicles.
The automaker also said Wednesday that with production volumes increasing, it has moved to shipping its vehicles by rail, rather than by truck. That change has reduced costs, but it also means that new vehicles may take more time to get to customers after being produced. Because of that lag, Rivian said, the gap between its quarterly production and delivery totals may increase going forward.

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