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Airlines are cancelling thousands of flights as Boeing 737 Max delays stretch on. Now the upcoming holiday travel season is starting to look bleak.

It is increasingly likely that the global grounding of the Boeing 737 Max aircraft will stretch into 2020. If that happens, the major airlines will be forced to try and manage the holiday travel season without an important segment of their fleets, likely leading to cancellations and major logistical challenges. American Airlines is the latest to extend 737 Max cancellations. It's now removed the plane from its schedule through November 2, although that date can be extended. Visit Business Insider's homepage for more stories. As the global grounding of Boeing's 737 Max drags on, airlines are eyeing a new challenge on the horizon: a holiday travel season without a full fleet. When all variations of the 737 Max were grounded in March, following the second deadly crash in five months, Boeing and airlines that fly the plane were optimistic that it could be returned to service quickly. A relatively simple software update was expected to be approved and implemented this summer.  The software fix initially addressed a potential flaw with the plane's MCAS, or Maneuvering Characteristics Augmentation System. MCAS is an automated system that compensates for the fact that the 737 Max has larger engines than previous 737 generations. The larger engines could cause the plane's nose to tip upward, leading to a stall — in that situation, MCAS could automatically point the nose downward to negate the effect of the engine size. However, as the grounding has extended into the summer, several new issues have emerged that raise additional safety concerns, including problems with electronic components and with emergency recovery procedures. Many FAA officials and airline executives now doubt that the plane will return to service before 2020, according to a Wall Street Journal report. Read more: Boeing announced a major leadership shuffle for its troubled 737 Max team, and the head of the program is out The three US airlines that have the Max in their fleets — American, Southwest, and United — have issued several extensions to their Max-related cancellations. American's latest, through November 2, is the fifth time the airline has pushed the grounding back. Southwest's latest cancellation end-date is October 1, and United's is November 3, although as the situation remains fluid, those dates can be extended even further. Initially, the FAA expected the software fix to be ready by April, and it was anticipated that it would be the only necessary fix. The 737 Max saga continues What initially began as an inconvenience for the airlines, causing them to cancel some flights and cover others with spare aircraft, has developed into a much larger `problem. Each of the airlines was supposed to receive additional deliveries of Max aircraft throughout the second and third quarters — consequently, they planned flight schedules and logistics for the end of the year with the assumption that those aircraft would be available. For instance, United, which only has 14 of the 737 Max 9 aircraft in its fleet — however, it was supposed to receive 16 more through 2019, according to data compiled by USA Today. American has 24 of the Max 8s, but was supposed to receive 16 more, while Southwest — the largest operator with 14 Max 8s — was supposed to take delivery of an additional 41 aircraft this year. Airlines are now scrambling to cover flights with other aircraft that were supposed to be flown by those Max planes, and that's becoming increasingly difficult to do. American has cancelled nearly 115 daily flights due to the Max — and recently suspended an entire route altogether, and Southwest has cancelled around 150 daily flights. United, meanwhile, expects to cancel 2,100 flights in September, and 2,900 in October due to the 737 Max saga. Read more: American Airlines made a doctor wrap a blanket around herself because a flight attendant found her summer outfit 'inappropriate' Boeing expects to submit all of the required software fixes — which should address every issue raised so far — by the end of September, according to a Washington Post report. Should the fixes be sufficient and approved quickly, the aircraft can theoretically return to regular service by November. However, if regulators find additional problems, or require any revisions or refinements to the software fix, the timeline could be pushed back an indeterminate amount of time. The FAA has not offered a timeline for when it expects to lift the grounding order. American, Southwest, and United all declined to comment on the expected impact to holiday travel, referring to the latest schedule updates instead. The airlines are avoiding committing to either the most optimistic or the more pessimistic timelines. With the latest cancellations extended through November 3, the airlines will be able to easily slot the jet into its equipment rotation should the FAA lift its grounding order quickly upon reviewing the software fix. However, the airlines are also leaving the door open to cancelling the Max's flights for later weeks and months.  Should the latter scenario happen, the airlines will then have to figure out which flights to cancel, and which to cover with limited spare equipment, during the busiest travel days of the year. Data from AAA suggests that this year's travel period may be one of the busiest on record. However, even if the plane can be returned to service before the holiday rush, airlines will face another daunting challenge: convincing nervous passengers that the jet is, indeed, safe.SEE ALSO: Boeing announced a major leadership shuffle for its troubled 737 Max team, and the head of the program is out Join the conversation about this story » NOW WATCH: Inside McLaren's quickest sports series car, the $240,000 600LT
Business Insider

This Stock Was Left for Dead – Now It’s The S&P 500’s Surprise Hero

Following its disastrous initial public offering (IPO), many investors left Snap Inc. for dead. However, the Snapchat creator’s stock has bounced back with a vengeance. The company’s shares are up by a jaw-dropping 185% in 2019, making it the S&P 500’s top performer – and surprise hero. Snap stock now trades at $15.66 after dropping […] The post This Stock Was Left for Dead – Now It’s The S&P 500’s Surprise Hero appeared first on CCN Markets
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Train your SOC team – Now!

I don’t need to tell you that it’s a tough time to be a cyber-defender. Attacks are growing increasingly sophisticated, as are the tools needed to detect them. Multi-vector threats that move laterally from IT to OT and IoT networks can cause substantial physical damage. Time sensitive malware like ransomware or fileless attacks crank the pressure up further. CISOs and SOC managers can’t combat cyberattacks without technology, and of course they want the most advanced defense tools available. These tools, however, require substantial expertise, but the teams who use them are usually understaffed and underqualified. And rarely are SOC teams trained on how to deal with a live cyberattack in a real-world setting.As a result, most SOC staff members will experience a major incident for the first time on the job. Nevertheless, they will be expected to understand the situation in a split second and manage it flawlessly. What good is an arsenal of fancy cyber weapons if your team members haven’t mastered them and even practiced the relevant playbooks? And how can we expect our SOC teams to identify and respond to an incident which they’ve never seen before?   When you consider how critical digital assets are to most organizations and how prevalent cyberattacks are, it’s a no brainer that organizations should require mandatory training for all security analysts. From fresh recruits to senior aces, SOC staff that practices for cyberattacks will be prepared in advance for the attack, and understand how to work TOGETHER as a well-oiled cyber security machine. This is, in my view, the most troubling aspect of the cybersecurity skills “gap.” “By failing to prepare, you prepare to fail” Problem solving under pressure, when the stakes are high is a challenge experienced by pilots, air traffic controller, doctors and first responders every day. These professionals are required to assess situations in real-time, make split second decisions against a ticking clock, and use – as a team and as individuals, sophisticated technologies in highly distracting environments. The cost of error is high and there is often no second chance to fix it. These industries also use experiential learning — hands-on training and simulation to minimize errors and ensure their experts can perform as needed, before they even get to see a patient, aircraft, or a control tower. Simulating day-to-day scenarios and crisis scenarios repeatedly, enables trainees to correct errors and improve their performance – as individuals and as a team, so when an actual crisis occurs it is handled efficiently. Cybersecurity is already heading that way, but now that cyberattacks can cause physical damage, we need to move towards it at a much faster clip. Why wouldn’t we want incident responders to experience real-life attacks in a safe environment using their day-to-day tools?  Cyberattacks are ATTACKS and should be treated as such. SOC analysts are an enterprises’ front line defenders, and like any other first responder they should be required to demonstrate their fitness for duty by completing required simulated training program successfully.  This approach can not only be used to certify and train cybersecurity experts, it can also validate operational procedures and technologies. For example, new incident response playbooks will have to be run in a simulated environment before being approved. Just as all aircraft must complete wind-tunnel testing before completing production, all security technologies can and should be field tested and certified by an entity other than the vendor that made it. The same simulation platforms used for training SOC staff can be used to validate and certify new security products and assessing network resilience. But the real value of simulated training is its impact on people. It helps them become more skilled at a given task, to acclimate and integrate new people onto a team, even to help prioritize purchasing and technology spend. Given the breadth and depth of the cybersecurity skills shortage, simulated training should very well be the most high value line item on your cybersecurity budget. I often read about people being cybersecurity’s weakest link, but I beg to differ. I’ve seen time and time again how simulated training for SOC staff and especially full team training, transforms a company’s cyber defense capabilities.  There may be some truth to people being cybersecurity ‘s weakest link, but with proper training, they are also by far, it’s strongest. Adi Dar is CEO of Cyberbit The post Train your SOC team – Now! appeared first on SC Media.
SC Media

🚫Is Bitcoin now BEARISH?🚫

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sunny decree

Bitcoin is too big to fail now; Trump and Fed Chair’s acknowledgement proves its growing significance

It is slowly becoming an impossible year to keep your eyes off from. Not only has Bitcoin and its family of cryptocurrencies outperformed most traditional stocks and assets, but today everyone from a small-time trader to the President of the United States, is tweeting about the digital asset. Speaking about the President of the United […] The post Bitcoin is too big to fail now; Trump and Fed Chair’s acknowledgement proves its growing significance appeared first on AMBCrypto.
AMBCrypto

Here's how much $1,000 could grow over 5 years in Wealthfront's high-yield savings account, which has the highest rates available right now

Robo-advisor Wealthfront recently bumped the annual percentage rate (APY) on its high-yield savings account to 2.57%. The savings account is FDIC insured up to $1 million, fee-free, and requires a minimum opening deposit of just $1, making it accessible to all savers. We did the math to find out how a $1,000 initial investment, plus additional contributions of $100 a month, would grow at the current interest rate over five years. Currently, Business Insider readers who sign up for a Wealthfront investment account will receive their first $5,000 managed for free in that account in perpetuity. The main objective of a savings account is to keep the money you're not using today safe and accessible. If you choose an account earning at least 2% in interest, you have a shot at beating inflation to grow that money into even more. Dozens of financial institutions have high-yield savings accounts on offer, but investment app Wealthfront is currently leading the pack with one of the top APYs — 2.57%, as of this writing. Not only does it earn 25 times more than your typical savings account, but Wealthfront's Cash Account is fee-free, requires a minimum opening deposit of just $1, allows unlimited transfers, and is FDIC-insured up to $1 million. True to its roots as a robo-adviser, Wealthfront's Cash Account can only be accessed online and through the mobile app. Wealthfront recommends its high-yield savings account for storing money that's going to be used within five years, whether an emergency fund, down payment for a home, or an upcoming expense. For longer-term growth, you can use Wealthfront's investing platform to invest in low-cost index funds with as little as $500, set up and contribute to an IRA, or save in a 529 college plan. To see how an initial deposit of $1,000, plus monthly contributions of just $100, could grow over five years in  Wealthfront's high-yield savings account, we plugged the numbers into the compound interest calculator on Investor.gov. Wealthfront doesn't offer a checking account, but you can easily set up automatic transfers from another bank to contribute to the high-yield savings account regularly. Below, you'll see the beginning and ending balance each year, along with the total additional contributions made throughout the year. Note that the interest on this account is compounded monthly. Also note that the calculation assumes a constant APY of 2.57%, though it's unlikely this would remain the same over five years since interest rates are subject to change depending on inflation and the government's interest-rate benchmark. Choosing the account with the highest interest rate today is a fine decision, but know that the rate offered when you open the account isn't locked in. In short, ensure the account otherwise fits your needs before parking your savings there. Across the board, high-yield savings accounts offer better rates than a traditional savings account — hence: high-yield — so you've already made progress toward automatically building wealth by keeping your money there, regardless of how the rate shifts over time. Learn more about the Wealthfront Cash Account » Read more: Robo-advisor Wealthfront now offers a new high-yield savings account with a minimum deposit of $1 — here's how it stacks up Ally vs. Marcus vs. Wealthfront: How 3 of the most popular high-yield savings accounts stack up American Express has a high-yield account to earn 20 times more on savings, and anyone can open it for as little as $1 I use Personal Capital to keep track of dozens of credit cards and bank accounts, and it's the easiest option I've found so far Join the conversation about this story » NOW WATCH: The US women's national team dominates soccer, but here's why the US men's team sucks
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UK Finance Chief Ready to Engage with ‘Potentially Transformative’ Libra

The UK is studying the properties of Libra in-depth to prevent the digital currency from damaging the economy. This is what Philip Hammond, Chancellor of the Exchequer of the United Kingdom, said in a recent interview with CNBC’s Squawk Box. Hammond explained that regulators must fully understand how Libra works to counter the risks associated […] The post UK Finance Chief Ready to Engage with ‘Potentially Transformative’ Libra appeared first on CCN Markets
CCN

Tether (USDT) Accidentally Creates $5 Billion in Crypto

Stable coins, which are backed by fiat currency, have become an integral part of the crypto ecosystem over the past couple of years, and in that regard, Tether (USDT) is possibly the most well known. However, the very fact that it is backed by fiat makes it possible for it to be prone to certain errors, and that is exactly what happened yesterday when the team behind USDT made a mistake that had an effect on the wider crypto market for some time. Administrative Error In an astonishing development, the members at Tether transferred $5 billion ... ﾿ Read The Full Article On CryptoCurrencyNews.com Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
Crypto Currency News

ZILLIQA Price Prediction Today: Daily (ZIL) Value Forecast – July 15

• The short-term and medium-term outlook is in a downtrend. • Selling opportunities at the broken demand area may be considered. ZIL/USD Medium-term Trend: Bearish Supply zone: $0.02500, $0.02600, $0.027000 Demand zone: $0.01000, $0.00500, $0.00300 ZILUSD is in a downtrend in the medium-term. The bears' strong pressure broke the lower demand area of the rant […]
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Royal Mint In UK Enters Crypto Realm Offering Custodial Services for Temtum (TEM) Cryptocurrency

The Royal Mint in the UK, a 1,100 financial institution tasked with minting coins for the United Kingdom announced their plans to become a cryptocurrency custodian in the coming days. This becomes the first time the financial institution is entering into the cryptocurrency world following previous unsuccessful attempts. The Royal Mint released an official press […]
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