AIRLINES

JETBLUE BEGINS FLIGHTS OUT OF NEWARK AIRPORT

NEWARK, N.J. – Discount carrier JetBlue Airways began flying yesterday from Newark Liberty International Airport to two airports in Florida, with plans to fly to three other Sunshine State airports, and one in Puerto Rico, before Thanksgiving.

Acting Governor Codey was among the dignitaries welcoming the New York based airline to New Jersey at a ceremony in Terminal A, where JetBlue will have use of two gates. The airline will probably bring an additional 250,000 passengers to Newark Liberty in its first 12 months, and more than 1 million in its second 12 months, said Anthony Coscia, chairman of the Port Authority of New York and New Jersey, which operates Newark Liberty and Teterboro airports in New Jersey, and Kennedy and LaGuardia airports in New York.

– Associated Press

SHIPPING

FEDEX RAISES EXPRESS RATES

FedEx, the world’s third-biggest package-shipping company, will increase rates at its express unit by 5.5% while reducing fuel surcharges by 2 percentage points. The new rates are effective January 2 for domestic and American export express package and freight shipments, the company said in a statement yesterday. FedEx Express, the company’s largest division, carries shipments by plane for delivery in one to three business days.

FedEx typically announces rate increases after mid-November. The early announcement may have been designed to quell investor concerns that a price war between FedEx and larger rival United Parcel Service would slow profit growth, analysts said.

– Bloomberg News

ENERGY

GAS PRICES FALL FOR FIFTH STRAIGHT DAY

Gasoline futures in New York fell for a fifth session on indications that demand is ebbing because of high prices at the pump. The 5.4% decline was the biggest fluctuation of any commodity market yesterday. Gasoline demand over the past four weeks averaged almost 8.8 million barrels a day, 2.6% below the same period last year, the U.S. Energy Department said in a weekly report yesterday. Eight states, including California and Virginia, have average retail gasoline prices above $3 a gallon, according to AAA, the nation’s largest motorist organization.

– Bloomberg News

CONSUMER BANKING

BANK OF AMERICA OFFERS DEBIT CARD TO BOOST SAVINGS

Bank of America, the second-biggest American bank, is offering customers a debit card that will round up purchases to the nearest dollar and deposit the difference in their savings accounts. The bank will match 100% of the transfers for the first three months of the promotion, dubbed “Keep the Change,” the Charlotte, N.C.-based lender said in a statement yesterday. After that, Bank of America will contribute 5%, up to a maximum of $250 a year. “It’s like an electronic change jar,” a deposits and debit-products executive at the bank, Diane Morais, said in the statement. “People can now turn those everyday purchases for groceries, gas and meals into a simple way to save.” The personal saving rate in America reached a record low of minus 0.6% in July, according to the Commerce Department.

– Bloomberg News

AUTOMOBILES

HONDA DESIGNS DOG-FRIENDLY CAR

WAKO, Japan – Honda Motor has designed a car that’s friendly for dogs – part of the Japanese automaker’s ongoing effort to create vehicles that are easy to use and comfortable to ride in.

The W.O.W. Concept, which stands for “wonderful openhearted wagon,” shown to reporters recently, is an exhibition model with no plans for commercial sale that will be exhibited at the Tokyo auto show later this month. A special crate for dogs in the glove compartment allows owners to interact with their pets while driving. A bigger crate pops up from the floor in the back seat area and can be folded back into the floor when it’s not needed. For even bigger dogs, just buckle them up with a special seat belt to the floor.

– Associated Press