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AIRLINES MAKE A PROFIT
The world's airlines are expected to post a profit of $8.9bn (£5.7bn) this year, an industry body has said, in a sharp upgrade of its previous forecast.

The International Air Transport Association (Iata) said the industry recovery had been "stronger and faster than anyone predicted".

In June, it had predicted a much smaller profit of $2.5bn. In March, it had expected a loss of $2.8bn. Iata said increasing demand and stable costs were driving the recovery.

US RECESSION LONGEST SINCE WW2
The US recession lasted 18 months and was the most prolonged since World War II, a report has concluded. The National Bureau of Economic Research said the recovery began in June 2009, with recession having begun in 2007.

Its views carry weight in the US, even though there is usually a lag before it reaches a position.
The organisation's figures take in data beyond simply GDP. Income, employment industrial production and wholesale retail sales also form part of the analysis.

The previous longest postwar recessions in 1973-75 and 1981-82 both lasted 16 months, it said.


Source: BBC Business News