CNBC.com's Pippa Stevens brings you the day's top business news headlines. On today's show, Ylan Mui investigates the cost to taxpayers of police misconduct. Plus, Phil LeBeau breaks down the better-than-expected recovery in domestic air passenger traffic.
George Floyd's family meets with Biden, Harris on the first anniversary of his murder
WASHINGTON — Members of George Floyd's family met with President Joe Biden and Vice President Kamala Harris at the White House on Tuesday, to mark the first anniversary of Floyd's murder by a Minneapolis police officer.
Floyd, a 46-year-old Black man, died on May 25, 2020, after then-Minneapolis cop Derek Chauvin pressed his knee onto Floyd's neck for more than nine minutes. Floyd was unarmed.
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Floyd's death sparked worldwide calls for racial justice in policing and a reimagining of law enforcement. Following the hourlong meeting, the Floyd family spoke to reporters outside the White House.
United shares jump after airline says domestic leisure fares topped 2019 levels
Summer vacations are getting more and more expensive as travelers return from the long pandemic slump.
United Airlines said Tuesday that yields on domestic leisure tickets purchased this month topped 2019 levels and said the trend would continue through summer, echoing similar comments from Southwest Airlines last week.
Shares of United were up close to 4% in late-morning trading, leading the S&P 500 higher.
United said total revenue per available seat mile, a gauge of how much revenue airlines are bringing in compared with its capacity, would be down 12% for the second quarter from previous guidance of about a 20% decline. Weak business travel demand is weighing on yields overall, though those are close to 2019 levels, United said.
DC attorney general sues Amazon on antitrust grounds, alleges it illegally raises prices
Washington, D.C., Attorney General Karl Racine announced Tuesday he's suing Amazon on antitrust grounds, alleging the company's practices have unfairly raised prices for consumers and suppressed innovation.
Racine is seeking to end what he alleges is Amazon's illegal use of price agreements to edge out competition; the lawsuit also asks for damages and penalties to deter similar conduct. The suit asks the court to stop what it calls Amazon's ability to harm competition through a variety of remedies as needed, which could include structural relief, often referred to as a form of breakup.
Shares of Amazon barely moved on the announcement, down 1% as of Tuesday afternoon.