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Delayed baggage? Wifi not working? Big US push to refund airline passengers

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Taking to the skies while your bags stay on the ground or being unable to connect to in-flight wifi may soon see you financially compensated in the US

The U.S. Transportation Department has released proposed new rules to require passenger airlines to refund fees for bags that are significantly delayed as well as issue money-back for services like onboard Wi-Fi that do not work.

The proposal, which will open for public comment for 60 days, came shortly after President Joe Biden signed an executive order to boost competition throughout the economy.

Biden’s new order also directs U.S. regulators to review airport slots and aviation market structure issues.

“it is our goal to have more competition in the airline industry.”

White House economic adviser Bharat Ramamurti said

Rules on the allocation of airport slots have massive ramifications for aviation competition and the market access for low-cost carriers.

Under existing rules within the United States, passengers are entitled to be compensated in the event that bags are lost, but not when delayed.

The new rules

Under the proposed rule, a “significantly delayed checked bag” is one not delivered to the passenger within 12 hours for domestic itineraries and within 25 hours for international itineraries.

The department estimates consumers could see $10.7 million to $11.4 million annually in refunded baggage fees and estimates carriers’ costs at around $4 million.

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Money

Will Australia’s foreign investment rule create an economic boost?

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Australian Treasurer Dr. Jim Chalmers announced an overall of foreign investment rules ahead of the budget.

Australia is set to announce a significant decline in its projected gross debt, signalling a more optimistic outlook for the country’s fiscal health.

The Airport Economist, Professor Tim Harcourt at UTS joins to discuss.

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Money

Research key to investment success

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What is the importance of research in the investing and super landscape in Australia?

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Peter Green, Director of Research at Lonsec Research. #wyld money

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Money

Why “stagflation” will be the greatest financial threat of 2024

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With inflation soaring and economic growth tapering off, concerns about stagflation are on the rise

Stagflation, a situation characterised by high inflation coupled with stagnant economic growth, presents a unique challenge that many are ill-prepared to face.

Mark Wyld from MW Wealth joins to unpack what defines “stagflation”. #featured

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