United Airlines (UAUA) has raised most of its U.S. business-oriented fares by $25 to $50 one way and other fares by $5 to $10 each way, citing the high cost of fuel. The increases took effect Wednesday. It was not clear whether United’s rivals intended to follow suit. The fare boost comes at a time when reduced domestic passenger demand is slowing results for U.S. carriers.
GENERAL MOTORS
General Motors Corp. (GM) reported its first-quarter profit of $62 million, or 11 cents a share, was 90 percent lower than a year ago, and cited losses in the home lending operations of its former financial arm, GMAC Financial Services. On the brighter side, it was the company’s second consecutive quarterly profit, reflecting record vehicle sales and improvements in automotive operations.
