Business news in brief
By The Associated Press
Hospitality workers’ union endorses Harris
WASHINGTON | The hospitality workers’ union UNITE HERE has endorsed Vice President Kamala Harris for president. It’s a rejoinder to Republican Donald Trump’s effort to woo restaurant and hotel workers by promising to make their tips tax-free.
The endorsement includes a commitment by the union to have its members knock on more than 3.3 million doors for Harris in swing states.
Trump proposed excluding tips from federal income taxes during a rally in Nevada. Both of Nevada’s Democratic senators have supported Trump’s idea, a sign of its potential popularity.
CSX second quarter profit slips following collapsed bridge response
CSX railroad’s second quarter profit slipped 2% as it scrambled to respond to the Baltimore bridge collapse that disrupted coal exports. The drop came even though the volume of CSX’s shipments was up by the same rate.
CSX said Monday that it earned $963 million, or 49 cents per share, in the second quarter. The results still beat the 48 cents per share that analysts surveyed by FactSet Research predicted.
Baltimore is the nation’s No. 2 coal export port, so the bridge collapse that closed the port caused significant disruptions. But CSX and its competitor in the east, Norfolk Southern, quickly worked to reroute shipments to other ports.
CrowdStrike, Delta fight over canceled flights
Cybersecurity software company CrowdStrike is disputing Delta Air Lines over who is to blame for damage that the airline suffered after a global technology outage.
Delta’s CEO has threatened to sue CrowdStrike for what he said was $500 million in lost revenue and extra costs related to thousands of canceled flights.
A lawyer for CrowdStrike says, however, that the company’s liability should be less than $10 million.
—From AP reports
