A new plume of ash has closed several European airports again. That's adding to the air-travel industry's woes as the International Air Transport Association estimates that the April shutdown cost $1.7 billion.
As the ash cloud from Iceland's Eyjafjallajokull volcano clears, travel and tourism businesses on both sides of the Atlantic are tallying the cost. Find out how the massive aviation disruption has affected those industries.
As airspace slowly reopens in parts of Europe and some airlines restart their service, the continent's aviation industry and the E.U. are trying to adjust to the historic economic disruptions brought on by ash from the Iceland volcano.
Some of Monday's best stories for inverstors, including how to trade market bubbles, the long-term impact of the Icelandic volcano, and is Goldman guilty?
With air travel restrictions still crippling most of Europe, national governments and businesses are starting to bridle under the unprecedented shut-downs. Losses are now reaching more than $200 million a day. A U.K. pilots group says: "A number of airlines are now staring bankruptcy in the face."
International shipping companies are scrambling to keep their operations moving, even as volcanic ash from Iceland closes down air traffic across much of Europe. Time-sensitive documents make up a large part of international air shipments. Promises of overnight deliveries are on hold.
President Obama can't be pleased by the loss of a Democratic Senate seat which jeopardizes passage of his cherished health-care reform. The news, however, appears to have fueled a mini stock rally in the health-care and pharma sectors wary of how any reform would affect their businesses. The uptrend is expected to continue.
