Business
Delta suspends ‘specialty services’ perk for members of Congress, cites DHS shutdown
A Delta Air Lines Boeing 757-200 plane passes by the Capitol dome in Washington as it comes in for a landing at Ronald Reagan Washington National Airport, Nov. 9, 2025.
Bill Clark | Cq-roll Call, Inc. | Getty Images
No sky perks for you!
Delta Air Lines suspended its airport escorts and red coat services for members of Congress and their staff because of the ongoing partial shutdown of the Department of Homeland Security, the air carrier said Tuesday.
The move comes a week after Delta CEO Ed Bastian blasted Congress during an interview with CNBC’s “Squawk Box” for failing to authorize pay for Transportation Security Administration agents during the shutdown of the agency that includes TSA.
“Due to the impact on resources from the longstanding government shutdown, Delta will temporarily suspend specialty services to members of Congress flying Delta,” Delta said in a statement to CNBC.
“Next to safety, Delta’s No. 1 priority is taking care of our people and customers, which has become increasingly difficult in the current environment,” the airline said.
Delta’s action was first reported by the Atlanta Journal-Constitution
Delta’s Capital Desk, which is a reservation line for members of Congress and staffers, remains open.
But for now, those customers will be treated like any other passengers based on their respective Sky Miles status.
The move comes as airports around the U.S., including major hubs in cities such as Atlanta, where Delta is based, are seeing extra-long security lines as a result of elevated absences by TSA agents, who are set to miss their second full paycheck this week.
Bastian last week fumed to CNBC that it is “inexcusable that our security agents, our frontline agents, that are essential to what we do, are not being paid. And it’s ridiculous to see them being used as political chips.
“So, we’re outraged,” Bastian said.
“And if there’s a call to action here — and I think over 90% of the American public supports those people getting paid — ask our folks right here in Washington to do their job, get our people paid. They can do it,” the CEO said.
United Airlines, when asked by CNBC if it had suspended its similar perks for members of Congress, said, “We don’t have any changes to announce today.”
CNBC has requested comment from American Airlines about its services for federal lawmakers.
Airline executives have railed against lawmakers in recent months, urging them to ensure that essential government workers like TSA officers are paid during shutdowns, which have become increasingly common.
Repeated funding impasses, including in early 2019 and as recently as last fall, ended shortly after absences of government workers who were required to work without pay increased.
Business
UK inflation rate steady in February ahead of Iran war
The speed of price rises in the UK has stayed the same, according to data which was collected before the US-Israel war with Iran began.
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Business
PSX holds positive trend as global equities rise, oil prices drop – SUCH TV
Buying continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 1,700 points during the opening minutes of trading on Wednesday. At 10 am, the benchmark index was at 155,730.37, up 1,764.37 points (1.13%).
Buying interest was observed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs, power generation, and refinery. Index-heavy stocks, including ARL, HUBCO, PSO, MARI, OGDC, POL, PPL, HBL, MCB, and MEBL traded in the green.
On Tuesday, PSX ended with moderate gains as thin volumes and profit-taking capped the upward momentum despite supportive global cues and easing geopolitical concerns.
The KSE-100 Index closed at 153,966.36 points, gaining 1,225.99 points or 0.80%.
K-Electric led trading volumes with over 35 million shares exchanged, coinciding with the company’s announcement of a new chief executive earlier in the day.
Market heavyweights, including Engro Holdings, Fauji Fertiliser Company, Lucky Cement, Systems Limited, and Hub Power Company, contributed significantly to the index gains, while banking and select industrial stocks weighed on overall performance.
Despite the rebound, analysts noted that the market remained cautious after last week’s decline, which was driven by geopolitical uncertainty, particularly tensions in the Middle East, and concerns over global energy prices.
Experts suggest that future market direction will depend on regional stability, energy policy developments, and progress in ongoing discussions with the International Monetary Fund.
Globally, stocks rose, and oil fell on Wednesday on reports the US is seeking a month-long ceasefire in its war on Iran, and had sent a 15-point plan to Iran for discussion, raising hopes for a resumption of oil exports out of the Persian Gulf.
S&P 500 futures rose 0.9% in the Asian morning, European futures lifted 1.2%, and Brent crude futures fell about 6% to $98.30 a barrel.
Business
Currencies pause amid uncertainty over US efforts to end Iran war | The Express Tribune
Fed hike odds jump to 26% from 70% cut probability week ago as Middle East war fuels inflation fears
A picture showing $100 bills. SOURCE: REUTERS
Currency markets took a breather on Wednesday, with traders cautious over United States President Donald Trump’s efforts to bring an end to the war with Iran. While Trump told reporters at the White House the US was making progress in talks with Iran, Tehran denied that direct negotiations had taken place, keeping investors on edge.
The US dollar index, which measures the greenback’s strength against a basket of six currencies, was last 0.13% higher at 99.317, with the euro little changed at $1.1603. The British pound was 0.16% weaker at $1.3388 as data showed that British consumer price inflation held at an annual rate of 3.0% in February, unchanged from January’s rate. However, inflation is broadly expected to pick up as the war in the Middle East pushes up prices.
The subdued volatility contrasted with a pickup in equities and a fall in crude oil prices after Trump said on Tuesday the US was making progress in its efforts to negotiate an end to the war.
Read: Trump approval sinks to 36% as fuel prices surge amid Iran war
“For those reacting to every breaking headline around dialogue between the US and its allies and Iran, including speculation of high-level talks and temporary ceasefire proposals, an element of fatigue is now firmly setting in,” said Chris Weston, head of research at Pepperstone Group Ltd in Melbourne.
Against the yen, the US dollar was up a slight 0.2% at 158.99, after the release of minutes from the Bank of Japan’s January policy meeting showed many board members saw the need to keep raising interest rates without any specific pace in mind. The Australian dollar weakened 0.33% to $0.697 after the release of inflation data for February, which showed a 3.7% rise prior to the start of the US-Israeli war with Iran, a slightly slower pace than expected by analysts.
Although markets still anticipate no change in US interest rates this year, expectations of policy tightening are rising. Fed funds futures now imply a 26.1% chance of a 25-basis-point hike at the Federal Reserve’s December meeting, compared to a 69.5% probability of a cut a week ago, according to CME Group’s FedWatch tool.
Read More: Global shares skid as oil surge threatens inflation shock
The Fed may need to keep interest rates steady “for some time” before further cuts are warranted, Fed Governor Michael Barr said on Tuesday, noting continued inflation above the Fed’s 2% target and the risks posed by the conflict in the Middle East.
Bond markets rebounded after a volatile week, with the yield on the US 10-year Treasury bond down 3.4 basis points at 4.356%. “Higher oil prices added to expectations of increasing inflationary pressures and tighter monetary policy,” analysts from Westpac wrote.
In cryptocurrencies, bitcoin climbed 1.6% to $71,202.33, while ether was up 1.2% at $2,174.14.
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