In brief: MasterCard to honor transactions in Cuba
WASHINGTON – MasterCard on Friday became the first major credit card company to say it will start handling U.S. card transactions in Cuba.
Citing new guidance from the U.S. Department of Treasury, MasterCard said it would begin processing swipes by U.S. card holders in Cuba beginning March 1.
The announcement comes one month after President Barack Obama said the U.S. would work to restore normal diplomatic relations for the first time in more than 50 years with the communist-run island. The move affects Americans who travel to Cuba to visit relatives or for a handful of other authorized purposes, including educational visits.
SkyMall files for bankruptcy
PHEONIX, Ariz. – Apparently, airline passengers aren’t buying enough garden gnomes, superhero pajamas and heated cat shelters. SkyMall has filed for bankruptcy.
The quirky in-flight shopping catalog has been a mainstay on airlines since 1989. Passengers with nowhere to go would pull it from the seatback and flip through the pages. While flying high over Iowa, they could dream about owning a $16,000 multisensory home sauna or maybe just a grill spatula with a built-in flashlight for $29.95.
But in recent years, passengers have found other distractions. More planes have seatback TV screens. The federal government now allows us to keep Kindles and iPads on during the entire flight. And most jets in the U.S. now have Wi-Fi, meaning passengers can chat with friends back home or actually do work.
“Nobody’s bored anymore. They don’t have a captive audience,” said John DiScala, who runs the travel advice site JohnnyJet.com. “Not only is it full of germs but travelers today have all the information they need at their fingertips.”
So Thursday, SkyMall’s parent company, Phoenix-based Xhibit Corp., filed for Chapter 11 protection in U.S. bankruptcy court. In the filing, the company said it has $1 million to $10 million in assets but $10 million to $50 million in liabilities.
Anheuser-Busch gulps Seattle brewer Elysian
ST. LOUIS – Anheuser-Busch is buying Seattle’s Elysian Brewing Co., expanding further its collection of craft brewers.
The financial terms of the deal were not disclosed.
Anheuser-Busch is the U.S. arm of Anheuser-Busch InBev SA, a Belgian company that is the world’s largest brewer. The company, which makes Budweiser and Bud Lite, has been combatting soft sales by buying up increasingly popular craft brewers.
While nationwide beer sales declined 1.9 percent in 2013, craft beer sales rose 17 percent, according to the Brewers Association.
Anheuser-Busch announced in November it was buying 10 Barrel Brewing of Oregon. InBev also has a one-third share in a Northwest group that produces Red Hook, Widmer and Kona beers.