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FAA Relaxing Restrictions on Electronics
Airplane travelers will soon be able to watch videos and play games with their electronic devices throughout their entire flight - and not just above a certain altitude - the Federal Aviation Administration said Thursday in a long anticipated announcement.
But don't expect to be chatting on your cell phone. A ban on using cell phones for voice communication remains in effect.
The FAA, following months of study by a group of aviation experts, said that airlines can soon allow passengers to use portable electronic devices such as tablets, laptop computers, e-readers and cell phones in airplane mode throughout the flight - with some circumstantial restrictions.
The FAA does make this point that in certain circumstances you will be asked to turn it off in-flight,”CNN Chief Business Correspondent Christine Romans explains.
“It’s about 1% of flights, they’re going to tell you that landing systems may not be proven to be, as they call them PED tolerant (personal electronic device tolerant). So they’ll have you turn off your stuff in a very low-visibility situation.”
Chocolate, Wine Prices On The Rise
Halloween may be more bitter than sweet this year because the cost of buying your favorite treats—chocolate and wine, may soon be skyrocketing!
Why? Because growing demand in emerging markets and bad weather in major cocoa producing countries is pushing up the cost of key ingredients, CNNMoney reports.
Cocoa bean prices are up by 22%, cocoa butter by 63%.
“So far they haven’t really been passing that on to us, but you just wait,” CNN Chief Business Correspondent Christine Romans reports.
“Watch for prices to rise. What I think you’re going to see first are smaller packaging…And they’re going to start to have to try to figure out other things to put in there to make up for the higher cost of cocoa butter,” Romans says.
Bacchus may have to pay up due to weather related issues as well. Global production fell by more than 5% last year – to its lowest level since the 1960s – primarily due to bad weather in France and Argentina, CNNMoney reports.
“We consume more wine than we wine,” Romans says. “Basically wine production down at a time when wine consumption is actually up, and that means prices rise.”
Twitter Sets IPO Stock Price Between $17 And $20
Looking to buy Twitter stock in the company's initial public offering? We now know about how much that'll cost you, CNN's Christine Romans reports.
In a regulatory filing late Thursday, Twitter set a preliminary price range of $17 to $20 per share for its IPO. It also raised the maximum size of its offering to $1.4 billion, up from its previous $1 billion.
The company has about 545 million shares outstanding, so Twitter would be valued as high as $10.9 billion - slightly above previously reported valuation estimates.
Twitter plans to sell about 70 million of its shares in the IPO.
The company's target price range isn't binding, so we don't yet know what price Twitter will ultimately set for its IPO. The company will file several more rounds of paperwork before the IPO to provide a variety of new details - anything from setting a new price range, to more information about items like executive compensation.
Twitter will have to set its final price the night before it begins trading, but that won't be for another few weeks.
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