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...They end up paying for all those card points, miles and cashback — one way or another. pan.yuk@ft.com...
...Fees are set by the payment network operators, Mastercard and Visa, as a percentage of each transaction and can be as high as 3 per cent....
...The model’s battery-only driving range of 68 miles is enough to cover the average of 18 miles a day that cars in the UK are driven. The timing is opportune. Hybrid sales are surging around the world....
...American said it expected revenue per “seat mile” — a measure of efficiency — to drop by as much as 6.5 per cent in the current quarter. This is in line with previous expectations....
...Nomura’s offices are in downtown Manhattan, but McElligott’s home is about 30 miles away in New Jersey....
...Miles Davis. Grace Jones. Then came the Nike account and a series of ad campaigns that helped transform a sports shoe company into a multibillion-dollar brand....
...In a hearing in the London high court on Monday, Mr Justice Miles outlined which documents could be used by both sides as evidence....
...The BNSF railroad, with more than 32,000 miles of track that run from Oakland, California to Chicago, showed a 12 per cent drop in revenues....
...At the same time, he hired high-profile lawyers in London and Washington and spun an elaborate lie about his innocence and sued journalists reporting on his activities....
...Making a lot of money from gaming cards, a high-volume business, means Nvidia can iterate its existing designs regularly and see an immediate return from the $8bn a year it spends on R&D....
...But high engagement means advertisers will be happy. Last year, slowing ad growth led to declarations that that was the end of the social media era....
...By the time the 21st century arrived, costs were too high to export ore profitably to China, forcing the company to vertically integrate....
...Houlihan Lokey has agreed to acquire 7 Mile Advisors....
...We can smell a rat, we can smell a phoney from a mile away, and we know Donald Trump delivered for us before,” she said....
...I’m not sure this will happen, even if rates do stay high, but it is worth thinking about....
...Smart reads Keeping up with the Prigozhins The family of Russian warlord Yevgeny Prigozhin is heavily involved in his businesses, yet their luxurious lifestyle has gone mostly uninterrupted, the FT’s Miles...
...In 2020, he established a company in the western Chinese city of Chengdu called CHJS High Technologies, a joint venture with Chengdu’s local government....
...Passenger yield — the revenue from each person flying one mile — was higher in 2022 than in 2019....
...Some reportedly walked 25 miles to get away from the campus where 200,000 of them live and work. Global shipments of the high-end iPhone 14 Pro and iPhone 14 Pro Max will be delayed....
...This would help the company satisfy a state law that 90 per cent of the miles driven by its fleet are in zero-emission vehicles by 2030....
...But what has scuppered the market is the high cost of maintenance and the dearth of riders in the pandemic. Ride demand disappeared in lockdown....
...However, users were still dependent on the strength of their “last mile” internet connections....
...We’ve manually plugged in the relevant stock data for Electric Last Mile to get the aggregate market cap drop, after ELM’s bankruptcy borked Google Finance/Sheets....
...In its initial public offering document, Uber said its TAM was “all passenger vehicle miles and all public transportation miles in all countries globally”....
...Its Ioniq 6 electric sedan can travel up to 610km (379 miles) on a single charge — longer than the Tesla’s Model Y and Model 3 Long Range....
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