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1. Small business optimism spikes
Sentiment among U.S. small businesses hit a three-and-a-half-year high, Reuters reports, citing data from the National Federation of Independent Businesses. That group's Small Business Optimism Index increased 8 points to 101.7 in November, the highest mark since June 2021.
The group points to the election of Donald Trump as the source of optimism for the largely right-leaning business owners.
One pressure point, though, is a persistent shortage of labor and increasing wages.
"Wage hikes are necessary to maintain current employment and hopefully to help fill vacancies," NFIB chief economist Bill Dunkelberg said.
2. Union pushes for JPMorgan to cancel San Francisco conference
The San Francisco Chronicle reports that union workers in San Francisco are pushing for JPMorgan Chase to cancel its January healthcare conference as roughly 2,500 hotel workers remain on strike in the city.
The conference typically draws more than 8,000 attendees in early January and is seen as a major part of the struggling city's convention calendar.
Jeff Cretan, a spokesman for San Francisco Mayor London Breed, told the newspaper: “We’ve been in ongoing conversations with both sides and have encouraged them to seek mediation to come to a solution. We’ve offered to help bring them together, including using our labor team to support, and we reiterated that offer just last week.”
3. A look at the hotel impact from the Eras Tour
Taylor Swift's two-year, global odyssey of a tour wrapped up this past weekend in Canada. HNN's Trevor Simpson reports that the hotel industry is unlikely to recapture the $2 billion magic of The Eras Tour in the foreseeable future.
Cody Bertone, general manager of the Virgin Hotels New Orleans, said his property saw year-over-year increases in occupancy of 47% and rate at 173%. Swift performed three shows from Oct. 25-27 at the Caesars Superdome in New Orleans.
"I would say it's a singular event," he said. "Having Friday, Saturday and Sunday, three concerts, allowing people to book one-night stays at a high amount, I don't think we'll repeat that. We won't have those types of rates until the Super Bowl in February here in New Orleans."
4. Boeing resumes some production, announces layoffs
Reuters reports production has resumed on Boeing's 737 Max airplanes roughly a month after the conclusion of the widespread strikes that affected the aerospace manufacturing company.
"Getting the 737 MAX production line moving again is essential to the heavily debt-burdened planemaker's recovery, and Boeing has about 4,200 orders for the jetliner from airlines eager to meet growing global demand for air travel," the news outlet reports.
But Boeing is simultaneously announcing a new round of layoffs, the AP reports.
5. LVMH invests in French hotel firm
HNN's Terence Baker reports luxury firm LVMH Moët Hennessy Louis Vuitton is making another investment in the hotel industry with a minority investment in French hotel owner and brand Les Domaines de Fontenille.
The latter company has 11 hotels, eight of which are in France.
LVMH previously spent $2.6 billion on global hotel firm Belmond back in 2018.