American Airlines to cut international flights amid Iraq war fears
Fort Worth based AMR plans 6 percent reduction in international flights next month as demand wanes before wartime. CEO Donald Carty warns further cuts possible with a short war and ongoing wage and benefit concessions.
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Consumer prices rise sharply in February amid war fears
February CPI shows a 0.6 percent jump driven by energy costs as oil fears and war anxieties lift prices. Core inflation inches up 0.1 percent while gasoline, fuel oil, and natural gas surge. food also climbs, marking broad price pressure amid Iraq war concerns.
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Military spending unlikely to boost U S economy as past wars
War spending today yields smaller GDP boosts than Civil War and World War II, with direct costs around 1 percent of GDP for a $100 billion outlay. Historical wars show much larger GDP shares, while analysts note indirect costs like oil prices and consumer confidence. Experts see uneven effects across regions tied to defense industries and bases.
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