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BUSINESS BRIEFS.(TO THE POINT)
TRANSPORTATION
Northwest warns of dire finances
The No. 4 U.S. airline said its cash had dwindled by 19% to $1.7 bil in the last 2 months, hurt by a 50% spike in fuel prices. Northwest Airlines said it will lose $400 mil in Q3, but possibly more due to Katrina's impact. The airline's pilots are planning to negotiate a new round of pay cuts, but the mechanics are still striking. Shares fell 8.5% to 3.63.
** Southwest Airlines rose 3% to 13.51 after Goldman Sachs upgraded its rating to outperform, saying the discount carrier was least impacted from rising fuel prices.
...
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