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NATIONAL BRIEFING
TRANSPORTATION
A Senate panel unanimously approved the nominations of Rep. Christopher Cox (R-Calif.), left, as the new SEC chairman, and Roel C. Campos and Annette L. Nazareth as commissioners.
(By Preston Keres -- The Washington Post)
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More Acela Service to Resume
Amtrak said it will bring more high-speed Acela Express trains back into service on Aug. 1, adding three weekday round trips between New York and Washington and two between Boston and New York. The additions will bring the New York-Washington total to nine and the Boston-Washington total to three, the railroad said in a statement. Amtrak began restoring service July 11 after an interruption of almost three months to repair defective brake parts.
EARNINGS
UAL Posts Larger Loss
UAL, United Airlines' parent company, said its second-quarter loss widened, to $1.43 billion from $247 million in the comparable quarter a year earlier. Most of that increase was related to its ongoing effort to exit bankruptcy this fall. Revenue increased 5.6 percent, to $4.42 billion.
Excluding $1.4 billion in reorganization costs, United's operating earnings grew to $48 million from $7 million -- despite $262 million in higher fuel costs. Chief executive Glenn Tilton pointed to United's revenue growth and 3 percent reduction in non-fuel costs as signs that the airline has become more competitive.
Real Estate Sale Boosts MetLife
MetLife's second-quarter profit jumped 135 percent, to a record $2.25 billion from $954 million, as the New York-based insurance company recorded $1.2 billion of gains from the sale of real estate. Revenue grew nearly 16 percent, to $10.95 billion.
Aetna Sales Rise With Enrollment
Aetna said second-quarter profit rose 43 percent, to $409.7 million. Revenue at the health insurer rose 13 percent, to $5.5 billion on increased medical and dental enrollment, as Aetna promoted plans designed to help employers slow the growth of health care expenses.
Loews Profit Climbs 6 Percent
Loews, the diverse company run by New York's Tisch family, said second-quarter earnings rose 6 percent, to $433.8 million, on gains in oil drilling, hotels and cigarettes.
Revenue for the quarter rose 3 percent, to $4.03 billion.
Compiled from staff and news service reports.
