Economy

UK government plans to allow airlines to consolidate flights as jet fuel costs soar

The government says it wants to reduce the likelihood of last-minute flight cancelations over the summer amid uncertainty over the Iran war.

Recent inflation data was 'bad news,' Fed's Goolsbee says

The Personal Consumption Expenditures price index, the central bank's preferred inflation measure, rose at a 3.5% annual rate in March.

Global week ahead: Is 'Sell in May' just a myth?

Should investors 'sell in May' or flip a coin?

'Godspeed my friend': Inside the final hours of Spirit Airlines

Spirit Airlines ceased operations overnight after a failed government bailout.

OPEC+ Set for Another Oil Output Quota Hike Despite Hormuz Closure, Sources Say

The output increase will remain largely on paper as long as the U.S.-Iran war continues to disrupt Gulf oil supplies.

Sean Duffy holds news conference after Spirit Airlines shutters overnight

Transportation Secretary Sean Duffy held a news conference at Newark Liberty International Airport on Saturday morning after Spirit Airlines announced it would immediately cease operations.

What will a Spirit Airlines shutdown mean for travelers?

Updated on: May 2, 2026 / 11:16 AM EDT / CBS News

Spirit Airlines shutting down after failed effort at government rescue deal

Updated on: May 2, 2026 / 11:15 AM EDT / CBS News

The S&P 500 and Nasdaq Kept Their Record Rallies Going. Here Are 3 Key Takeaways

It seemed like what really captivated Wall Street though was corporate earnings.

Berkshire Hathaway shareholders gather for 1st annual meeting without Warren Buffet on stage

Berkshire Hathaway shareholders gathered Saturday in Omaha, Nebraska for the first annual meeting without legendary founder Warren Buffett on the stage.

Airfare amid Iran war: Buy now or wait out the conflict? Experts weigh the risks

It could be risky to delay buying plane tickets and hoping fares will drop, according to travel experts.

Ford CEO discusses auto industry affordability amid rising gas prices and economic uncertainty

The average cost of a new car is about 30% more expensive than 2019, data shows. Ford CEO Jim Farley spoke with "CBS Saturday Morning" about how the car company is tackling affordability amid economic uncertainty and rising gas prices.